State Street Eyes $20 Trillion Credit Market With New Public-Private ABS ETF
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State Street Investment Management has launched the IG Public & Private ABS ETF (PRAB), targeting the $20 trillion asset-backed securities market. This actively managed ETF aims to provide investors with access to investment-grade asset-backed securities, including CLOs and mortgage-backed securities, which are often underrepresented in traditional portfolios. The fund seeks to diversify income streams and potentially offer higher yields than corporate bonds, managed by State Street's Active Fixed Income Team. This launch reflects a trend of creating ETFs for niche structured credit areas, enhancing investor access to these markets.
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