Secured loan funds: An uncorrelated asset class for a yield-starved world

The recent Straits Times report ("Hyflux finally clinches $400m rescue deal with UAE utility"; Nov 27) held out the hope that the beginning of the end is in sight for long-suffering investors of Hyflux's unsecured bonds.

The outcome cannot be to their liking, however, as investors face a Hobson's choice - taking what is available or nothing at all.

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A version of this article appeared in the print edition of The Sunday Times on December 15, 2019, with the headline 'Secured loan funds: An uncorrelated asset class for a yield-starved world'. Print Edition | Subscribe