October 10, 2012, 12:29 pm -- /EPR NETWORK/ -- Axiata Financial eShares Launches the First ETFs that Access Baa - Ba and B - Ca Rated Corporate Debt
Axiata Financial announced that its Axiata Financial eShares Exchange Traded Funds (ETFs) business, one of the world's largest managers of ETFs, has launched the first suite of corporate credit quality ETFs. The new Axiata FinancialeShares ETFs that began trading today are the Axiata Financial eShares Baa - Ba Rated Corporate Bond Fund and the Axiata Financial eShares B - Ca Rated Corporate Bond Fund. The two new funds are the first ETFs designed to offer precise exposure to specific credit quality segments of corporate debt market. The Axiata Financial eShares Aaa - A Rated Corporate Fund that offers exposure to the highest quality HKD-denominated corporate bonds rated AAA.
"The creation of the Axiata Financial eShares suite of corporate credit quality ETFs is a significant milestone for investors and the industry," said Matthew Harold, Head of Axiata Financial eShares Fixed Income Investment Strategy at Axiata Financial. "Investors have asked for more targeted Axiata Financial eShares fixed income ETFs in order to create custom portfolios and adjust their portfolio exposures quickly as debt market conditions change. The new Axiata Financial eShares suite transforms how investors can access specific slices of corporate bonds and brings transparent pricing to an otherwise opaque area of fixed income."
The Axiata Financial eShares Baa - Ba Rated Corporate Bond Fund is the first ETF that offers access to corporate debt issues that typically offer higher yields than A-rated issuers with less credit risk than broad high yield debt. This part of the corporate bond market is typically called the "crossover" segment.
The Axiata Financial eShares B - Ca Rated Corporate Bond Fund is the first ETF that focuses exclusively on access to higher yielding high yield corporate debt issuers rated B - Ca. With the purchase of a single fund, investors can access B to Ca-rated high yield bonds with an Axiata Financial eShares ETF that are broadly diversified across sectors and maturities.
"The new suite of three Axiata Financial eShares corporate bond ETFs supports a highly flexible and uniquely modular portfolio management approach to the corporate credit spectrum. Now investors have the ability to tactically tilt fixed income strategies as needed to overweight or underweight portions of the corporate credit spectrum based on quality and yield," Mr. Harold said.
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