The $260 Billion Mom-and-Pop Funds Distorting the Credit Market

Popular with individual investors, fixed-maturity funds are hoovering up the debt of big companies, reducing borrowing costs but obscuring repayment risk.

By Tasos Vossos, Abhinav Ramnarayan · Bloomberg Markets

Popular with individual investors, fixed-maturity funds are hoovering up the debt of big companies, reducing borrowing costs but obscuring repayment risk.