Not all rates rise equally: An opportunity for floating rate loans – NYL Investments – 2.24.21

Overview:
Title: Not all rates rise equally: An opportunity for floating rate loans
Date: Wednesday, February 24, 2021
Time: 1:00 PM Eastern Standard Time
Duration: 1 hour

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Summary:

Now On Demand. With the Fed on hold and yields hitting historic lows across fixed income, investors are wondering about the potential risks that longer duration assets may pose to their portfolios. While investors have tended to gravitate towards floating rate loans only when short-term rates (as determined by Fed policy) are expected to increase, they can also benefit a portfolio when longer-term yields (i.e. 10-year Treasury) are rising – as they are today.

Get insight into how floating rate loans can generate attractive levels of income potential while insulating portfolios from the negative effects of a steepening yield curve.

Discussion Topics:

  • Market dynamics (Fed policy, steepening yield curve, etc.)
  • Asset class performance and growth
  • Why floating rate loans make sense today

Speakers:
Arthur Torrey Arthur Torrey Managing Director and Portfolio Manager New York Life Investors

Arthur is a Portfolio Manager in the High Yield Credit Group. He is responsible for the management of non-investment grade assets, including floating rate loans and high yield bonds. He is also a portfolio manager on all floating rate loan mandates, including retail mutual funds, institutional accounts and CLOs. Arthur joined the firm in 2006. Previously, he was a portfolio manager and investment analyst for Carlyle High-Yield Partners. He was also a corporate relationship manager for Fleet Securities, as well as a corporate banker with Credit Agricole/Indosuez and ABN-AMRO Bank. He has worked in the financial services industry since 1993. Arthur earned a B.S.B.A. from the University of Denver.
Moderator: Adam Schrier, CFA Moderator: Adam Schrier, CFA Director – Product Management New York Life Investments

Adam is a Director of Product Management covering taxable fixed income strategies at New York Life Investments. Previously, he worked as a Global High Income Product Specialist at Invesco in New York. He began his career in investment management at Morgan Stanley Investment Management where he was a Senior Associate on the Portfolio Manager Support team. He earned an M.B.A. from the Stern School of Business at NYU and a B.A. in Economics from Rutgers University. Adam holds the CFA, FRM, and CAIA designations.
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