With fixed income yields below a level that any risk-adjusted return can historically justify, investors are seeking new solutions. Alternative credit, a dynamic, complex and evolving market comprising loans not traded on public markets, can provide multiple benefits.
It is expanding rapidly due to the shortage of credit in the wake of the credit crisis. A 2016 pension survey shows that 52% of European pension plans are invested in alternative credit. Most of them report that their investments have delivered value. The adoption rate is likely to reach 80% by 2020.
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