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Minerd warns on loan funds

Apr. 30, 2018 1:10 PM ETEVF, EFR, VVR, JFR, FCT, BRW, BHL, BSL, PHD, TLI, BKLN, OXLC, AFT, BGX, SRLN, BGB, FTSL, FSLF, ECC, HYSABy: Stephen Alpher, SA News Editor36 Comments
  • Holding court at the Milken Global Conference, Guggenheim Partners' Scott Minerd reminds that leveraged loan ETFs (also called senior loans or bank loans) promise near-instant liquidity while the paper backing them very much does not.
  • "If you have passive money pull out ... It could be a real problem." As someone who invests directly in the bank loan market, Minerd says it takes at least two weeks to get cash back.
  • Source: Bloomberg
  • ETFs: OXLC, BKLN, ECC, PPR, EFR, BGB, VVR, NSL, BGX, PHD, TSLF, BSL, SRLN, AFT, SNLN, FCT, EVF, FTSL, TLI, BHL

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