(Bloomberg) -- It was all high-fives and slaps on the back for Mark Okada and his team at Highland Capital Management as they rang the Nasdaq closing bell last week in New York.
No wonder. Okada and Highland were celebrating the best year yet for their ETF, Highland/iBoxx Senior Loan ETF, a $465 million basket of corporate leveraged loans that has returned 7.2% in 2016. They aren’t the only ones smiling; similar ETFs and mutual funds attracted $2.5 billion last quarter. That’s the most in 2 1/2 years, and the wind is still blowing in their favor.