For decades, companies' freedom to pursue unencumbered growth increased as large corporations benefited from less regulation, allowing already large businesses to become even bigger and more powerful.
But there is a price to pay.
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95 percent of active global high-yield managers struggle to consistently add value net of fees, according to the world's fourth-largest asset manager ahead of launching a global HY index fund. However, a recent survey by consultancy Kirstein showed a vast majority of Nordic investors preferring their HY portfolios actively managed.