Can active credit managers generate alpha through single name selection?
For most investors, the concept of active management in credit markets is centered on fundamental analysis and single name selection. In this discussion paper, we aim to quantify the potential for active managers to generate alpha from fundamental analysis and cross-sectional single name selection.
Comparing credit indices: are CDS indices a better investment than corporate bonds?
Credit default swap (CDS) indices, such as the iTraxx and CDX families, have grown considerably in volumes since their inception in the early 2000s. In this paper we use more than 15 years of data to assess how successful using the most liquid CDS indices has been to take long risk exposure to credit markets.