BlackRock’s Rieder Launches Second ETF After $400 Million Debut
- BRTR charges 38 basis points and holds fixed-income securities
- Rieder’s first ETF has handily outperformed its benchmark
Rick Rieder
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
BlackRock Inc. bond chief Rick Rieder is expanding his footprint in the $7.8 trillion ETF industry with the launch of his second fund.
The BlackRock Total Return ETF, which began trading Thursday under the ticker BRTR, is actively managed by a team led by Rieder, according to a press release. It launches roughly seven months after Rieder, BlackRock’s chief investment officer of global fixed income, brought the $413 million BlackRock Flexible Income ETF (ticker BINC) to market.