BlackRock's Ben Edwards sticks to his BBB guns despite industry-wide fears

There have been warnings from fellow bond fund managers and central banks alike that with such a large portion of the investment grade credit market now in BBB bonds - the tier has grown from around 30% of the market to more than 50% in the past decade - a financial shock could see BBB bonds downgraded to non-investment grade or 'junk' status, leading to spiking borrowing costs and a higher risk of defaults. However, Edwards, who has run the fund since 2011, remains optimistic as he focuses on companies that should avoid being devalued in the case of a downturn. He said: "The goal of ...