{"id":112299,"date":"2025-04-03T06:29:52","date_gmt":"2025-04-03T10:29:52","guid":{"rendered":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/"},"modified":"2025-04-04T06:30:13","modified_gmt":"2025-04-04T10:30:13","slug":"janus-is-skeptical-of-private-credits-push-into-etfs","status":"publish","type":[3765],"link":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/","title":{"rendered":"Janus Is Skeptical of Private Credit\u2019s Push Into ETFs"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row bg--white  text--black row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a093be04b26e'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong>PODCAST<\/strong><\/p>\n\n<\/div>\n    <h1 class=\"bbg-metadata bbg-metadata--title\">Janus Is Skeptical of Private Credit\u2019s Push Into ETFs<\/h1>\n<div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/markets\/\" rel=\"category tag\">\n                    Markets\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/regional-analysis\/\" rel=\"category tag\">\n                    Regional Analysis\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/risk\/\" rel=\"category tag\">\n                    Risk\n                <\/a>\n            <\/li>\n            <\/ul>\n<div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div>    <p class=\"bbg-metadata bbg-metadata--date\">April 3, 2025<\/p>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong>Bloomberg Intelligence Podcast<\/strong><\/p>\n\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a093be0525b5'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2 bbg-column--valign-middle bbg-column--m-width-4 bbg-column--s-width-2\"\n    style=\"\"\n    >\n    <div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"6182\" height=\"6182\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Credit_Edge-logo-AVAT-411224981.png\" class=\"bbg-single-image__image attachment-full\" alt=\"\" title=\"Credit_Edge-logo-AVAT-411224981\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Credit_Edge-logo-AVAT-411224981.png 6182w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Credit_Edge-logo-AVAT-411224981.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Credit_Edge-logo-AVAT-411224981.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Credit_Edge-logo-AVAT-411224981.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Credit_Edge-logo-AVAT-411224981.png 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Credit_Edge-logo-AVAT-411224981.png 2048w\" sizes=\"auto, (max-width: 6182px) 100vw, 6182px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p style=\"font-size: 18px; font-weight: 600; margin-top: -55px;\">Listen on<\/p>\n<div class=\"flexbox\">\n<div><a href=\"https:\/\/open.spotify.com\/episode\/3apbAzwaBB1TDZUV1Qg2Ba?si=v8VXDXTeQRamCQ8h373x2w\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/assets.bbhub.io\/professional\/sites\/41\/Spotify.svg\" alt=\"\" width=\"32\" height=\"32\" \/><\/a><\/div>\n<div><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/janus-is-skeptical-of-private-credits-push-into-etfs\/id1674628050?i=1000702101202\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/assets.bbhub.io\/professional\/sites\/41\/Apple-podcast.svg\" alt=\"\" width=\"32\" height=\"32\" \/><\/a><\/div>\n<div><\/div>\n<\/div>\n<div><\/div>\n\n<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-1 bbg-column--valign-middle\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--valign-middle\"\n    style=\"\"\n    >\n    <div\n  class=\"bb-audio\"\n  data-title=\"Janus Is Skeptical of Private Credit\u2019s Push Into ETFs\"\n  data-state=\"fresh\"\n  data-audio-url=\"https:\/\/assets.bbhub.io\/professional\/sites\/41\/final-John-K-Janus-Henderson.mp3\"\n  data-label-desc=\"for Janus Is Skeptical of Private Credit\u2019s Push Into ETFs\"\n  data-controls-class=\"no-controls\"\n  data-custom-controls-background=\"fill\"\n  data-theme=\"light-mode\"\n  data-progress=\"0\">\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row bg--white  text--black row-padding--top-none bbg-row--full-bg-bleed\" data-anchor='row-6a093be05a85f'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><strong>Overview<\/strong><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>Retail investors aren\u2019t yet ready to jump on the private-credit bandwagon, according to Janus Henderson. \u201cThe skepticism [around ETFs focused on direct lending] should be real,\u201d\u00a0John Kerschner, the company\u2019s head of US securitized products, tells Bloomberg News\u2019\u00a0James Crombie\u00a0and\u00a0Bloomberg Intelligence\u2019s\u00a0Spencer Cutter\u00a0in the latest Credit Edge podcast. \u201cThe underlying isn\u2019t nearly as liquid and hasn\u2019t really been tested throughout a real dislocation credit cycle.\u201d Kerschner and Cutter also discuss the outlook for the US economy and consumers, collateralized loan obligations, relative value in securitized credit and fund flows.<\/p>\n\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row bg--gray  text--black bbg-row--full-bg-bleed\" data-anchor='row-6a093be05c4df'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h3>More episodes from <a href=\"https:\/\/www.bloomberg.com\/podcasts\/series\/bloomberg-intelligence\/\">Bloomberg Intelligence<\/a><\/h3>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-4 bbg-column--halign-right\"\n    style=\"\"\n    >\n    \n<div\n  id=\"cta_475652041721189337\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    #cta_475652041721189337.bbg-cta .bbg-cta-link.link-holder .bbg-cta-link {\n\tcolor: #000000 !important;\n}\n\n#cta_475652041721189337.bbg-cta .bbg-cta-button__icon-right::after {\n\tcolor: #000000 !important;\n}\n\n#cta_475652041721189337.bbg-cta .bbg-cta-button__icon-left::before {\n\tcolor: #000000 !important;\n}\n\n#cta_475652041721189337.bbg-cta .bbg-cta-link.link-holder .bbg-cta-link:after {\n\tbackground-color: #000000 !important;\n}\n    #cta_475652041721189337.bbg-cta .bbg-cta-link.link-holder .bbg-cta-link:hover {\n\tcolor: #0062dd !important;\n}\n\n#cta_475652041721189337.bbg-cta .bbg-cta-link.link-holder .bbg-cta-link:hover:after {\n\tbackground-color: #0062dd !important;\n\tcolor: #0062dd !important;\n}\n\n#cta_475652041721189337.bbg-cta .bbg-cta-link.link-holder .bbg-cta-link:hover:before {\n\tcolor: #0062dd !important;\n}\n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link\"\n        href=\"https:\/\/www.bloomberg.com\/podcasts\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"View all\"\n        >\n                      View all\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <script>\n    window.feed = window.feed || {};\n    window.feed['6a093be060a0b'] = {\"config\":{\"uuid\":\"\",\"title\":\"\",\"filter_label\":\"\",\"post_type\":\"post\",\"order_by\":\"date\",\"direction\":\"desc\",\"show_date\":\"no\",\"show_excerpt\":\"no\",\"display\":\"limit\",\"filter\":\"OR\",\"max_items\":\"3\",\"skip_cache\":\"no\",\"feed_style\":\"grid\",\"published_date\":\"\",\"show_cta\":\"\",\"featured_image\":\"yes\",\"el_class\":\"\",\"terms_post\":\"\",\"terms_page\":\"\",\"terms_attachment\":\"\",\"terms_webinar\":\"\",\"terms_bbmegamenu\":\"\",\"terms_directory\":\"\",\"terms_datalayer\":\"\",\"terms_templatera\":\"\",\"terms_bbg-fourofour\":\"\",\"terms_reusable\":\"\",\"terms_cookie_items\":\"\",\"terms_bbl_email_subscriber\":\"\",\"terms_dynamic_table_ticker\":\"\",\"terms_bfix\":\"\",\"terms_quicklinks\":\"\",\"terms_interstitial\":\"\",\"terms_slide\":\"\",\"terms_gated_content_form\":\"\",\"terms_site_alert\":\"\",\"terms_country\":\"\",\"terms_region\":\"\",\"terms\":\"\"},\"cpt\":{\"name\":\"post\",\"label\":\"Posts\",\"labels\":{\"name\":\"Posts\",\"singular_name\":\"Post\",\"add_new\":\"Add New\",\"add_new_item\":\"Add New Post\",\"edit_item\":\"Edit Post\",\"new_item\":\"New Post\",\"view_item\":\"View Post\",\"view_items\":\"View Posts\",\"search_items\":\"Search Posts\",\"not_found\":\"No posts found.\",\"not_found_in_trash\":\"No posts found in Trash.\",\"parent_item_colon\":null,\"all_items\":\"All Posts\",\"archives\":\"Post Archives\",\"attributes\":\"Post Attributes\",\"insert_into_item\":\"Insert into post\",\"uploaded_to_this_item\":\"Uploaded to this post\",\"featured_image\":\"Featured image\",\"set_featured_image\":\"Set featured image\",\"remove_featured_image\":\"Remove featured image\",\"use_featured_image\":\"Use as featured image\",\"filter_items_list\":\"Filter posts list\",\"filter_by_date\":\"Filter by date\",\"items_list_navigation\":\"Posts list navigation\",\"items_list\":\"Posts list\",\"item_published\":\"Post published.\",\"item_published_privately\":\"Post published privately.\",\"item_reverted_to_draft\":\"Post reverted to draft.\",\"item_trashed\":\"Post trashed.\",\"item_scheduled\":\"Post scheduled.\",\"item_updated\":\"Post updated.\",\"item_link\":\"Post Link\",\"item_link_description\":\"A link to a post.\",\"menu_name\":\"Posts\",\"name_admin_bar\":\"Post\"},\"description\":\"\",\"public\":true,\"hierarchical\":false,\"exclude_from_search\":false,\"publicly_queryable\":true,\"show_ui\":true,\"show_in_menu\":true,\"show_in_nav_menus\":true,\"show_in_admin_bar\":true,\"menu_position\":5,\"menu_icon\":\"dashicons-admin-post\",\"capability_type\":\"post\",\"map_meta_cap\":true,\"register_meta_box_cb\":null,\"taxonomies\":[],\"has_archive\":false,\"query_var\":false,\"can_export\":true,\"delete_with_user\":true,\"template\":[],\"template_lock\":false,\"_builtin\":true,\"_edit_link\":\"post.php?post=%d\",\"cap\":{\"edit_post\":\"edit_post\",\"read_post\":\"read_post\",\"delete_post\":\"delete_post\",\"edit_posts\":\"edit_posts\",\"edit_others_posts\":\"edit_others_posts\",\"delete_posts\":\"delete_posts\",\"publish_posts\":\"publish_posts\",\"read_private_posts\":\"read_private_posts\",\"read\":\"read\",\"delete_private_posts\":\"delete_private_posts\",\"delete_published_posts\":\"delete_published_posts\",\"delete_others_posts\":\"delete_others_posts\",\"edit_private_posts\":\"edit_private_posts\",\"edit_published_posts\":\"edit_published_posts\",\"create_posts\":\"edit_posts\"},\"rewrite\":false,\"show_in_rest\":true,\"rest_base\":\"posts\",\"rest_namespace\":\"wp\\\/v2\",\"rest_controller_class\":\"WP_REST_Posts_Controller\",\"rest_controller\":{},\"revisions_rest_controller_class\":false,\"revisions_rest_controller\":{},\"autosave_rest_controller_class\":false,\"autosave_rest_controller\":{},\"late_route_registration\":false},\"taxonomies\":[{\"taxonomy\":\"post_format\",\"terms\":[{\"term_id\":33,\"name\":\"Link\",\"slug\":\"post-format-link\",\"term_group\":0,\"term_taxonomy_id\":33,\"taxonomy\":\"post_format\",\"description\":\"\",\"parent\":0,\"count\":12,\"filter\":\"raw\"},{\"term_id\":666,\"name\":\"Link\",\"slug\":\"post-format-link\",\"term_group\":0,\"term_taxonomy_id\":666,\"taxonomy\":\"post_format\",\"description\":\"\",\"parent\":0,\"count\":2,\"filter\":\"raw\"}]},{\"taxonomy\":\"post_series\",\"terms\":{\"0\":{\"term_id\":3751,\"name\":\"Asia Centric\",\"slug\":\"asia-centric\",\"term_group\":0,\"term_taxonomy_id\":3751,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":51,\"filter\":\"raw\"},\"1\":{\"term_id\":3741,\"name\":\"Bloomberg Expert Access\",\"slug\":\"bloomberg-expert-access\",\"term_group\":0,\"term_taxonomy_id\":3741,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":10,\"filter\":\"raw\"},\"2\":{\"term_id\":3739,\"name\":\"Bloomberg Pro Tips\",\"slug\":\"bloomberg-pro-tips\",\"term_group\":0,\"term_taxonomy_id\":3739,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":59,\"filter\":\"raw\"},\"4\":{\"term_id\":3743,\"name\":\"Functions for the Market\",\"slug\":\"ffm\",\"term_group\":0,\"term_taxonomy_id\":3743,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":7,\"filter\":\"raw\"},\"5\":{\"term_id\":3770,\"name\":\"Market Dialogues\",\"slug\":\"market-dialogues\",\"term_group\":0,\"term_taxonomy_id\":3770,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":11,\"filter\":\"raw\"},\"6\":{\"term_id\":3742,\"name\":\"Need to Know\",\"slug\":\"need-to-know\",\"term_group\":0,\"term_taxonomy_id\":3742,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":15,\"filter\":\"raw\"},\"7\":{\"term_id\":3798,\"name\":\"Pricing Insights\",\"slug\":\"pricing-insights\",\"term_group\":0,\"term_taxonomy_id\":3798,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":6,\"filter\":\"raw\"},\"8\":{\"term_id\":3740,\"name\":\"Terminal Essentials\",\"slug\":\"terminal-essentials\",\"term_group\":0,\"term_taxonomy_id\":3740,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":6,\"filter\":\"raw\"}}},{\"taxonomy\":\"type\",\"terms\":{\"0\":{\"term_id\":3762,\"name\":\"Article\",\"slug\":\"article\",\"term_group\":0,\"term_taxonomy_id\":3762,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":1646,\"filter\":\"raw\"},\"1\":{\"term_id\":3763,\"name\":\"Case Study\",\"slug\":\"case-study\",\"term_group\":0,\"term_taxonomy_id\":3763,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":41,\"filter\":\"raw\"},\"3\":{\"term_id\":3765,\"name\":\"Podcast\",\"slug\":\"podcast\",\"term_group\":0,\"term_taxonomy_id\":3765,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":504,\"filter\":\"raw\"},\"4\":{\"term_id\":3815,\"name\":\"Press Release\",\"slug\":\"press-release\",\"term_group\":0,\"term_taxonomy_id\":3815,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":81,\"filter\":\"raw\"},\"5\":{\"term_id\":3766,\"name\":\"Q&amp;A\",\"slug\":\"qa\",\"term_group\":0,\"term_taxonomy_id\":3766,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":101,\"filter\":\"raw\"},\"6\":{\"term_id\":3767,\"name\":\"Report\",\"slug\":\"report\",\"term_group\":0,\"term_taxonomy_id\":3767,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":78,\"filter\":\"raw\"},\"8\":{\"term_id\":3768,\"name\":\"Video\",\"slug\":\"video\",\"term_group\":0,\"term_taxonomy_id\":3768,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":135,\"filter\":\"raw\"}}}],\"excluded_taxonomies\":{\"\":[]},\"post_id\":112299};\n<\/script>\n<div class=\"feed\" data-id=\"6a093be060a0b\"><\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black bbg-row--full-bg-bleed\" data-anchor='row-6a093be061963'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\tbackground:#e6f3ff;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:black;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_1\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Get insights delivered to your inbox<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Sign up for Bloomberg Professional Services newsletter<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_5198174689668789899\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/newsletter\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Retail investors aren\u2019t yet ready to jump on the private-credit bandwagon, according to Janus Henderson. \u201cThe skepticism [around ETFs focused on direct lending] should be real,\u201d\u00a0John Kerschner, the company\u2019s head of US securitized products, tells Bloomberg News\u2019\u00a0James Crombie\u00a0and\u00a0Bloomberg Intelligence\u2019s\u00a0Spencer Cutter\u00a0in the latest Credit Edge podcast.<\/p>\n","protected":false},"author":1976,"featured_media":92520,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-podcast.php","format":"standard","meta":{"_yoast_wpseo_primary_category":"453","footnotes":""},"categories":[453,534,469],"tags":[776,3659,3686,454,574],"series":[],"class_list":["post-112299","post","type-post","status-publish","format-standard","hentry","category-markets","category-regional-analysis","category-risk","tag-analyst","tag-credit","tag-credit-edge-podcast","tag-equities","tag-news","type-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Janus Is Skeptical of Private Credit\u2019s Push Into ETFs | Insights | Bloomberg Professional Services<\/title>\n<meta name=\"description\" content=\"Retail investors aren\u2019t yet ready to jump on the private-credit bandwagon, according to Janus Henderson. \u201cThe skepticism should be real,\u201d\u00a0John Kerschner, the company\u2019s head of US securitized products, tells Bloomberg News\u2019\u00a0James Crombie\u00a0and\u00a0Bloomberg Intelligence\u2019s\u00a0Spencer Cutter\u00a0in the latest Credit Edge podcast.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Janus Is Skeptical of Private Credit\u2019s Push Into ETFs | Insights | Bloomberg Professional Services\" \/>\n<meta property=\"og:description\" content=\"Retail investors aren\u2019t yet ready to jump on the private-credit bandwagon, according to Janus Henderson. \u201cThe skepticism should be real,\u201d\u00a0John Kerschner, the company\u2019s head of US securitized products, tells Bloomberg News\u2019\u00a0James Crombie\u00a0and\u00a0Bloomberg Intelligence\u2019s\u00a0Spencer Cutter\u00a0in the latest Credit Edge podcast.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/\" \/>\n<meta property=\"og:site_name\" content=\"Bloomberg Professional Services\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/bloomberglp\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-03T10:29:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-04T10:30:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2FBI-Podcast_Credit-Edge_Feature-Image.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1536\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"vgarcialoust\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theterminal\" \/>\n<meta name=\"twitter:site\" content=\"@theterminal\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"vgarcialoust\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/\"},\"author\":{\"name\":\"vgarcialoust\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#\/schema\/person\/e657d374e4f8b160444f1194de2aca19\"},\"headline\":\"Janus Is Skeptical of Private Credit\u2019s Push Into ETFs\",\"datePublished\":\"2025-04-03T10:29:52+00:00\",\"dateModified\":\"2025-04-04T10:30:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/\"},\"wordCount\":\"379\",\"publisher\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#organization\"},\"keywords\":[\"Analyst\",\"Credit\",\"Credit Edge Podcast\",\"Equities\",\"News\"],\"articleSection\":[\"Markets\",\"Regional Analysis\",\"Risk\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/\",\"url\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/\",\"name\":\"Janus Is Skeptical of Private Credit\u2019s Push Into ETFs | Insights | Bloomberg Professional Services\",\"isPartOf\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#website\"},\"datePublished\":\"2025-04-03T10:29:52+00:00\",\"dateModified\":\"2025-04-04T10:30:13+00:00\",\"description\":\"Retail investors aren\u2019t yet ready to jump on the private-credit bandwagon, according to Janus Henderson. \u201cThe skepticism should be real,\u201d\u00a0John Kerschner, the company\u2019s head of US securitized products, tells Bloomberg News\u2019\u00a0James Crombie\u00a0and\u00a0Bloomberg Intelligence\u2019s\u00a0Spencer Cutter\u00a0in the latest Credit Edge podcast.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#website\",\"url\":\"https:\/\/www.bloomberg.com\/professional\/\",\"name\":\"Bloomberg Professional Services\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.bloomberg.com\/professional\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#organization\",\"name\":\"Bloomberg Professional Services\",\"url\":\"https:\/\/www.bloomberg.com\/professional\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png\",\"contentUrl\":\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png\",\"width\":\"512\",\"height\":\"103\",\"caption\":\"Bloomberg Professional Services\"},\"image\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.instagram.com\/bloomberg\/\",\"https:\/\/www.linkedin.com\/showcase\/bloomberg-professional-service\/\",\"https:\/\/www.facebook.com\/bloomberglp\",\"https:\/\/twitter.com\/theterminal\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#\/schema\/person\/e657d374e4f8b160444f1194de2aca19\",\"name\":\"Bloomberg Professional Services\",\"url\":\"https:\/\/www.bloomberg.com\/professional\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Janus Is Skeptical of Private Credit\u2019s Push Into ETFs | Insights | Bloomberg Professional Services","description":"Retail investors aren\u2019t yet ready to jump on the private-credit bandwagon, according to Janus Henderson. \u201cThe skepticism should be real,\u201d\u00a0John Kerschner, the company\u2019s head of US securitized products, tells Bloomberg News\u2019\u00a0James Crombie\u00a0and\u00a0Bloomberg Intelligence\u2019s\u00a0Spencer Cutter\u00a0in the latest Credit Edge podcast.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/","og_locale":"en_US","og_type":"article","og_title":"Janus Is Skeptical of Private Credit\u2019s Push Into ETFs | Insights | Bloomberg Professional Services","og_description":"Retail investors aren\u2019t yet ready to jump on the private-credit bandwagon, according to Janus Henderson. \u201cThe skepticism should be real,\u201d\u00a0John Kerschner, the company\u2019s head of US securitized products, tells Bloomberg News\u2019\u00a0James Crombie\u00a0and\u00a0Bloomberg Intelligence\u2019s\u00a0Spencer Cutter\u00a0in the latest Credit Edge podcast.","og_url":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/","og_site_name":"Bloomberg Professional Services","article_publisher":"https:\/\/www.facebook.com\/bloomberglp","article_published_time":"2025-04-03T10:29:52+00:00","article_modified_time":"2025-04-04T10:30:13+00:00","og_image":[{"width":1536,"height":1024,"url":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2FBI-Podcast_Credit-Edge_Feature-Image.png","type":"image\/png"}],"author":"vgarcialoust","twitter_card":"summary_large_image","twitter_creator":"@theterminal","twitter_site":"@theterminal","twitter_misc":{"Written by":"vgarcialoust","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/#article","isPartOf":{"@id":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/"},"author":{"name":"vgarcialoust","@id":"https:\/\/www.bloomberg.com\/professional\/#\/schema\/person\/e657d374e4f8b160444f1194de2aca19"},"headline":"Janus Is Skeptical of Private Credit\u2019s Push Into ETFs","datePublished":"2025-04-03T10:29:52+00:00","dateModified":"2025-04-04T10:30:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/"},"wordCount":"379","publisher":{"@id":"https:\/\/www.bloomberg.com\/professional\/#organization"},"keywords":["Analyst","Credit","Credit Edge Podcast","Equities","News"],"articleSection":["Markets","Regional Analysis","Risk"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/","url":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/","name":"Janus Is Skeptical of Private Credit\u2019s Push Into ETFs | Insights | Bloomberg Professional Services","isPartOf":{"@id":"https:\/\/www.bloomberg.com\/professional\/#website"},"datePublished":"2025-04-03T10:29:52+00:00","dateModified":"2025-04-04T10:30:13+00:00","description":"Retail investors aren\u2019t yet ready to jump on the private-credit bandwagon, according to Janus Henderson. \u201cThe skepticism should be real,\u201d\u00a0John Kerschner, the company\u2019s head of US securitized products, tells Bloomberg News\u2019\u00a0James Crombie\u00a0and\u00a0Bloomberg Intelligence\u2019s\u00a0Spencer Cutter\u00a0in the latest Credit Edge podcast.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.bloomberg.com\/professional\/insights\/markets\/janus-is-skeptical-of-private-credits-push-into-etfs\/"]}]},{"@type":"WebSite","@id":"https:\/\/www.bloomberg.com\/professional\/#website","url":"https:\/\/www.bloomberg.com\/professional\/","name":"Bloomberg Professional Services","description":"","publisher":{"@id":"https:\/\/www.bloomberg.com\/professional\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.bloomberg.com\/professional\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.bloomberg.com\/professional\/#organization","name":"Bloomberg Professional Services","url":"https:\/\/www.bloomberg.com\/professional\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bloomberg.com\/professional\/#\/schema\/logo\/image\/","url":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png","contentUrl":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png","width":"512","height":"103","caption":"Bloomberg Professional Services"},"image":{"@id":"https:\/\/www.bloomberg.com\/professional\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.instagram.com\/bloomberg\/","https:\/\/www.linkedin.com\/showcase\/bloomberg-professional-service\/","https:\/\/www.facebook.com\/bloomberglp","https:\/\/twitter.com\/theterminal"]},{"@type":"Person","@id":"https:\/\/www.bloomberg.com\/professional\/#\/schema\/person\/e657d374e4f8b160444f1194de2aca19","name":"Bloomberg Professional Services","url":"https:\/\/www.bloomberg.com\/professional"}]}},"_links":{"self":[{"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/posts\/112299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/users\/1976"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/comments?post=112299"}],"version-history":[{"count":2,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/posts\/112299\/revisions"}],"predecessor-version":[{"id":112302,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/posts\/112299\/revisions\/112302"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/media\/92520"}],"wp:attachment":[{"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/media?parent=112299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/categories?post=112299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/tags?post=112299"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/series?post=112299"},{"taxonomy":"type","embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/type?post=112299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}