Record year as Irish tech firms raise €888m in venture capital – up 70% (Irish Venture Capital Association)
The fund’s exposure to high-yield bonds and small-value stocks helped push it to a 16.3% gain for the year after a disappointing 2015.
We briefly examine the tightening credit market.
The Gold-rated fund’s exposure to corporate bonds has gone from a headwind to a tailwind.
Rising rates have pushed bond indexes into the red this year, but high-yield bonds, helped by tightening credit spreads in energy, have bucked the trend.