BlackRock Inc. has expanded its active fixed-income range with the launch of a flexible income ETF in Europe.
The iShares € Flexible Income Bond Active UCITS ETF (IFLX) is listed on Euronext Amsterdam and Deutsche Borse with a total expense ratio (TER) of 0.40%.
Benchmarked against the Bloomberg Euro Aggregate Bond index, IFLX aims to “maximize income” by investing in a range of fixed-income securities, including government and corporate bonds, across both developed and emerging markets.
IFLX uses a flexible approach to credit quality, allowing investments in investment-grade, non-investment-grade and unrated securities, with up to 60% exposure to non-investment-grade assets.
IFLX also uses financial derivatives to generate additional income.
In a recent ETF Interview, iShares EMEA product head Manuela Sperandeo noted her team had been looking at the opportunity set for active outcome and income strategies across asset classes, following strong traction among goal-based investors in the U.S.
“Last year … a category we usually classify as outcome strategies—delivering income and non-linear participation in the market—have been very prevalent in the US,” she said.
“As investors move increasingly towards goal-based investing, we can expect to see more interest in this outcome-oriented way of conceiving products.”
IFLX’s arrival comes after ETF Stream revealed the launch of the iShares € Cash UCITS ETF (YCSH) last November.
Elsewhere in active fixed-income launches, Jupiter Asset Management unveiled an actively managed global government bond ETF via the HANetf white-label platform.
Goldman Sachs Asset Management (GSAM) also launched its first actively managed ETFs in Europe with two investment-grade corporate bond ETFs.
The launches coincide with European professional investors warming up to active fixed-income ETFs. In a recent survey conducted by ETF Stream, 29.4% said they allocate between 1% and 10% of their portfolios to active fixed-income ETFs, up from 20% of respondents the year before.
New York-based BlackRock is the No. 1 US ETF issuer, with $3.04 trillion in 438 exchange-traded funds.
This article was originally published by etf.com sister publication ETF Stream.
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