Bank of America Corp shares tumbled on Wednesday after the second-largest U.S. lender detailed its sensitivity to low interest rates and the Federal Reserve indicated it has no plans to raise its benchmark rate any time soon.
The bank added exposure to collateralized loan obligations (CLOs) it underwrites that have high credit ratings, rather than distributing all the pieces to investors, Donofrio said. Those securities tend to have higher returns than Treasury bonds and other low-risk assets.
Volta Finance Limited (LON:VTA) is a closed-ended limited liability company registered in Guernsey. Volta’s investment objectives are to seek to preserve capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis.