Ben Santonelli, from Polen Capital, discusses interval funds, managing interest rates in bond allocation, valuing businesses, and risks in high yield bonds. They explore strategies for navigating the low yield environment, the impact of interest rate moves, and the importance of sector specialization in credit opportunities.

Ben Santonelli, Portfolio Manager at Polen Capital, discusses the state of the high yield bond market and where he finds the best opportunities as debt investors can generate equity type returns. Topics include default rates, investing in high quality businesses, loan demand, liquidity, credit spreads, credit performance during a recession, margin compression, and potential refinancing issues.