Bank of England QE led institutional investors into corporate debt
Portfolio rebalancing into riskier assets did not extend to equities, BoE paper finds
Quantitative easing (QE) in the UK has prompted institutional investors to shift their portfolios away from gilts towards corporate bonds, according to a Bank of England (BoE) working paper, based on national accounts' net investment data and micro-data on life insurance companies and pension funds.
Institutional investor portfolio allocation, quantitative easing and the global financial crisis by Michael Joyce, Zhuoshi Liu and Ian Tonks, investigates whether QE changed the investment behaviour
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