iShares, the exchange-traded fund (ETF) business of BlackRock, is set to launch a new actively managed fund focused on short maturity bonds.
The fund will trade under the ticker NEAR on the BATS Exchange.
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The iShares Short Maturity Bond ETF (NEAR) will invest in the short-duration pocket of the market with interest-rate duration of around one year.
The fund will focus primarily on US debt and on high-quality debt, at least 80% of the fund will comprise investment-grade assets at all times.
The fund is a US dollar-denominated multi-asset portfolio with a total expense ratio of 0.25%.
NEAR will complement iShares’ existing line-up of single-sector bond ETFs and own Treasurys, corporate bonds, asset-backed debt and commercial mortgage-backed securities.
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By GlobalData
