15 Jul Fixed Income Perspectives – ‘Why Does Total Return Matter in Private Credit? ‘
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Voya Investment Management – Fixed Income Perspectives – Private Credit
Total return is the measuring stick many investors use to determine how their asset managers are performing over time. Although total return is more difficult to track for private credit offerings than it is for public bonds, the performance metric is arguably more important in the private market. This is because private holdings have different sources of non-coupon income to consider, such as up-front yield premiums.Read full paper