Funds Load Up on Risk as Crisis-Era Securities Make a Comeback

  • Complex products like synthetics and CDOs are returning
  • Dutch fund PGGM buys risk on a package of Nordea AB’s loans

The logo of PGGM at the headquarters of the pension fund in Zeist, the Netherlands.

Photographer: Lex van Lieshout/AFP via Getty Images

In a world of rock-bottom interest rates and negative bond yields, maybe it was bound to happen.

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