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Posted by on Sep 23, 2016 in Market Insight, Pacific Asset Management

The Labor of LIBOR

The Labor of LIBOR

Pacific Asset Management (PAM) is a Newport Beach, Calif.- based SEC registered investment adviser that specializes in institutional fixed income management, and features an investment professional team that carries multiple decades of experience managing an diverse suite of actively managed bond and floating rate loan portfolios, including as sub-advisor to the AdvisorShares Pacific Asset Enhanced Floating Rate ETF (FLRT).   Since mid-June, the three-month London Interbank Offered Rate (LIBOR)1 has increased by approximately 20 basis points.2 This is despite an unchanged federal funds rate in the United States and caution by the U.S. Federal Reserve (Fed) on future rate hikes. The rise in LIBOR has been driven in part by regulatory changes in U.S. money markets as the U.S. Securities and Exchange Commission adopts rules for floating-rate net asset value (NAV) for prime money-market funds. It’s important to look at what this change in LIBOR is telling investors.   What This Change IS Telling Investors The increase in LIBOR is a consequence of recent money market reforms. The upcoming...

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Posted by on Jan 15, 2016 in Market Insight, Pacific Asset Management

Twelve for ‘15

Twelve for ‘15

Pacific Asset Management (PAM) is a Newport Beach, Calif.- based SEC registered investment adviser that specializes in institutional fixed income management, and features an investment professional team that carries multiple decades of experience managing an diverse suite of actively managed bond and floating rate loan portfolios, including as sub-advisor to the AdvisorShares Pacific Asset Enhanced Floating Rate ETF (FLRT).   The PAM team recently furnished a commentary highlighting 12 charts that defined the credit market landscape in 2015, as well as summarizing the investment environment of the past year and their outlook for 2016. Please click here to read, “Twelve for ’15,” PAM’s December 2015 Investment Compass...

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