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AGGY - Open-Ended Bond Funds Can Cause Systemic Instability - In Extremis They Can't Liquidate Fast Enough
WisdomTree Yield Enhanced U.S. Aggregate Bond Fund
Firth Ratings has issued a warning - a general one, not about any specific fund or provider of them - concerning open-ended bond funds. The essential and basic idea of such funds leaves them potentially vulnerable to the same problems banking is. That of a bank run where withdrawals outpace the ability to collect on assets. We have, in fact, seen these in slightly different funds, open-ended property investment ones. The concern is real.