SPDR ETFs, the exchange traded funds (ETF) platform of State Street Global Advisors, has launched an emerging markets corporate bond fund denominated in dollars.
The SPDR BofA Merrill Lynch Emerging Markets Corporate Bond Ucits ETF is physically backed and has launched on the Deutsche Börse and London Stock Exchange.
It is managed by the specialist corporate bond team at State Street and expands the SPDR ETF range of 15 fixed income ETFs in Europe.
The fund also adds to SPDR’s existing emerging market debt range, which includes the SPDR Barclays Emerging Markets Local Bond Ucits ETF, which the firms says is Europe’s largest ETF to offer access to local currency emerging market government bonds.
The fund tracks a BofA Merrill Lynch index covering more than 25 markets, around 600 issues and 230 issuers with a minimum rating floor of CCC.
Scott Ebner, global head of product development at SPDR ETFs, says: “Clients are looking for opportunities to diversify their portfolios within emerging markets across both equity and fixed income.”
©2012 funds europe
