iShares, has an exchange-traded fund (ETF) in Europe to offer investors diversified exposure to global corporate bonds.
In a statement, the asset manager said its iShares Global Corporate Bond ETF would aim to track the Barclays Global Aggregate Corporate Bond Index, a broad-based measure of global investment grade fixed rate corporate debt markets.
It trades across more than 7,000 high quality corporate bonds mainly from US (48%), Europe (23%) and Asia Pacific (10%) and across 15 currencies. Rather than holding all bonds simultaneously, iShares said, it would be sampled, with around 270 bonds at launch increasing to a typical holding of around 500 bonds.
The ETF is physically-backed and has a total expense ratio of 20 basis points while also paying dividends to investors twice a year.
©2012 funds europe
