The Euro High Yield asset class / strategy has gained ground in the past three years versus its US counterparts. The sector grew over three times in terms of notional during that period. In fact, this is an ongoing trend that started post crisis in 2008 with the European market expanding massively, gaining a greater share of the global HY asset class.
Furthermore, the asset class is supported by the temporary weakening of the Euro currency while corporate fundamentals are still strong and default rates remain at an historical low. Additionally, ECB’s monetary policy based on Quantitative Easing has helped to support growth in the Euro area and we believe that it will continue to do so during 2016.
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