State Street has partnered with Jeffrey Gundlach’s DoubleLine Capital to launch a new actively managed bond ETF.
Dubbed as SPDR DoubleLine Total Return Tactical ETF, the new ETF will invest in fixed-income securities and compete with Bill Gross’s Pimco Total Return ETF.
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The fund will be managed by Gundlach and Philip Barach and will list on the NYSE Arca exchange.
The SPDR DoubleLine ETF will invest as much as 25% in corporate and sovereign high-yield debt, up to 15% in foreign-currency securities and a maximum of 25% in emerging markets.
Additionally, the ETF will invest in every type of debt security, including investment-grade, sovereign and corporate debt from issuers around the globe.
DoubleLine now manages about US$49 billion in assets via mutual funds and closed-end funds.
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