Aflac’s Kirsch Makes $1 Billion Bet on Junk Bonds, Bank Loans
Monday, February 9th, 2015
Eric Kirsch is betting that declines in risky debt are overdone.
Kirsch, the chief investment officer at Aflac Inc., is moving about $1 billion from high-grade corporate bonds to junk debt and bank loans, he said Wednesday on a conference call with investors. The shift began in December and is scheduled to be completed soon, Kirsch said.
“We’ve seen this dislocation in the credit markets going back to about November, December,” he said. “We are being tactical on our asset allocation.”
