Accessible and Efficient Investment Product Providing Exposure to U.S. Corporate Debt
NEW YORK, Nov. 13 (Korea Bizwire) – Nasdaq today announced that FlexShares(R) Exchange Traded Funds, sponsored and managed by Northern Trust, will list a new exchange-traded fund, FlexShares Credit-Scored US Corporate Bond Index Fund (Symbol: SKOR), on The Nasdaq Stock Market. SKOR will begin trading today, November 13th, 2014.
“Regulatory changes impacting the fixed income capital markets and persistent low interest rates have caused institutional investors and financial advisors to reassess their investment options for exposure to corporate bonds,” said Shundrawn A. Thomas, Executive Vice President and Head of Northern Trusts’ Funds and Managed Accounts Group. “The FlexShares(R) Credit-Scored US Corporate Bond Index Fund employs a rules-based methodology that incorporates forward looking financial metrics to optimize credit risk while providing improved transparency and liquidity as compared to legacy corporate bond benchmarks.”
SKOR is a fixed income portfolio consisting of corporate debt securities selected using a proprietary credit scoring process. The fund focuses on an intermediate maturity, with securities ranging from two to ten years in maturity. SKOR is an accessible and efficient investment product which provides exposure to U.S. corporate debt. The fund seeks to maximize the credit score while maintaining a similar spread and duration to the intermediate maturity corporate debt universe.
“It’s our pleasure to welcome a new FlexShares exchange-traded fund to The Nasdaq Stock Market,” said Walt Smith, Vice President, Head of U.S. Equities at Nasdaq. “Nasdaq offers FlexShares the opportunity to access new markets and expand SKOR’s reach to a full spectrum of investors.”
Nasdaq operates an efficient platform for successfully introducing a product suite into one of the single largest pools of liquidity, including market participants which represent a full spectrum of investors. ETF issuers benefit from an end-to-end solution that provides ongoing product support including index licensing, listings opportunities, data offerings and trading services. As the home to some of the world’s most innovative ventures, Nasdaq generates opportunities for issuers to access new markets and deliver new concepts that change the way the industry develops, manages and applies ETFs.
FlexShares ETFs are designed to help long-term investors pursue real world goals. FlexShares leverage investment expertise and research across multiple disciplines to offer distinctive solutions. Individual investors can purchase and sell shares through any brokerage firm, financial advisor or online broker. For additional information, please visit www.flexshares.com.
Northern Trust Corporation is a leading provider of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. Chicago-based Northern Trust has offices in 19 states, Washington, D.C., and 19 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2014, Northern Trust had assets under custody of US$6 trillion, and assets under investment management of US$923 billion. For 125 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com and follow us on Twitter @NorthernTrust.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of over $8.8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaq.com/ambition or www.nasdaqomx.com.
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Source: NASDAQ OMX via GLOBE NEWSWIRE