BlackRock, State Street Alums Map Plan to Disrupt Junk-Debt ETFs
- BondBloxx files for new funds investing based on credit rating
- ETFs would tap a ‘potentially lucrative’ niche: Morningstar
This article is for subscribers only.
An ETF startup founded by former industry players at BlackRock Inc., State Street Corp. and JPMorgan Asset Management is stepping up efforts to disrupt the slow-moving world of junk debt.
BondBloxx Investment Management LL plans to launch three new exchange-traded funds that slice and dice high-yield credit by rating, targeting BB, B and CCC rated securities, respectively, according to a U.S. Securities and Exchange Commission filing Tuesday.