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  • Trends with Benefits

    Trends with Benefits #35: State of Credit Markets with Fran Rodilosso

    Ed Lopez, Head of ETF Product
    November 17, 2020
     

    In this episode I speak with Fran Rodilosso, Head of Fixed Income ETF Portfolio Management for VanEck, about his experience managing fixed income ETFs, the state of credit markets and where to find value in fixed income markets today.


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    Crazy Year in Credit

    The year 2020 has been a crazy year many would like to forget. It's been challenging on so many fronts including healthcare, society, politics as well as investment markets. March was a major test for fixed-income markets and fixed-income ETFs. The long-term outcome from Federal Reserve interventions and record debt issuance is still to play out, but fixed-income investors are facing new lows in yields and being forced to take on different or greater risks.

    Fran is a 27 year veteran of fixed income portfolio management, managing both active and index-based strategies. Given his extensive experience in corporate credit and emerging markets I wanted to get his perspective on the state of play in fixed-income today, how ETFs performed and opportunities for finding value in credit markets. Two notable areas that came to the forefront this year that Fran provides insight into are fallen angel bonds and the ongoing development and accessibility of Chinese bond markets. These are areas that may be new and even seem a little far afield for investors used to typical fixed-income funds, but this has been anything but a typical year.

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    IMPORTANT DISCLOSURES

    Please note that Van Eck Securities Corporation (an affiliated broker-dealer of Van Eck Associates Corporation) may offer investments products that invest in the asset class(es) discussed in this podcast.

    The views and opinions expressed are those of the speaker(s) but not necessarily those of VanEck. Commentaries are general in nature and should not be construed as investment advice. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results, are valid as of the date of this communication and subject to change without notice. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. Any discussion of specific securities/financial instruments mentioned in the commentary is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary. All indices mentioned are measures of common market sectors and performance. It is not possible to invest directly in an index. Information on holdings, performance and indices can be found at vaneck.com.

    All investing is subject to risk, including the possible loss of the money you invest. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future performance.

    Van Eck Associates Corporation