Nasdaq OMX and Accretive partner to develop BulletShares index range

Jun 18th, 2013 | By | Category: Fixed Income

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Nasdaq OMX Global Indexes and Accretive Asset Management have formed a new partnership to promote and develop the BulletShares range of target-maturity corporate bond indices.

Nasdaq OMX and Accretive partner to develop BulletShares index range

Nasdaq OMX Global Indexes and Accretive Asset Management have announced a partnership to co-brand and develop the BulletShares target-maturity bond index range.

The indices, which have been co-branded Nasdaq BulletShares Indexes, currently have more than $2.5 billion in exchange-traded fund (ETF) assets linked to them – most notably under management by Guggenheim, a US-based ETF provider.

The indices, originally developed by Accretive, represent the performance of an investment in a diversified, held-to-maturity portfolio of fixed income securities with a common year of maturity. The concept combines the benefits of individual bonds and bond funds.

John L. Jacobs, Executive Vice President, Nasdaq OMX Global Indexes, said: “Accretive was quick to identify an opportunity in the bond index field and develop an innovative solution to meet the needs of investors with the first fixed-maturity corporate bond indexes. Nasdaq OMX is excited to partner with Accretive to expand the BulletShares brand globally and bring these indexes to investors around the world.”

Matthew Patterson, Accretive’s Managing Director, added: “We are excited about this new partnership with Nasdaq OMX, which has quickly emerged as a force in the global index arena. We strongly believe that Nasdaq OMX’s expertise, powerful brand and marketing prowess can take our innovative, first-to-market offering to another level of development.”

The existing BulletShares line-up includes 20 indices covering the investment grade and high-yield corporate debt markets, with maturities ranging from 2013 to 2022.

In addition to Guggenheim, ETF providers active in the target-maturity bond space include iShares in the US, and RBC and BMO in Canada. As yet, the concept has not been rolled out in ETF format in either the UK or wider Europe.

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