iShares will launch a new fund investing in dollar-denominated investment-grade floating-rate bonds, Index Universe reports. The iShares Floating Rate Note Fund will track the Barclays Capital U.S. Floating Rate Note <5 Years Index. The new ETF will include notes that have remaining maturity of one month to five years, and have about $300 million of outstanding face value. The fund’s investment advisor, BlackRock Fund Advisors, may also include futures and options instruments in the fund’s portfolio.
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