It seems that whoever you talk to in the pensions industry about their current hot topic, the answer is Multi-Asset Credit (MAC). But what does this term really mean? The answer, it appears, depends who you ask.
When you also consider Absolute Return Bond (ARB) funds, which are often talked about in the same breath, the potentialfor confusion is rife.
The purpose of this newsletter is firstly to consider the role that credit typically plays within a portfolio. We then compare this to the types of asset MAC/ARB funds hold before considering the strategic and tactical case for such funds.