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UBS: partners with BlackRock on development bank debt

(CercleFinance.com) - Swiss wealth manager UBS said on Tuesday that it has partnered with US asset manager BlackRock on the launch of a new exchange-traded fund (ETF).


The ETF investing in multilateral development bank (MDB) will be offered as an alternative to traditional high-quality fixed income investments such as government bonds, UBS said.

MDB debt offers exposure to US dollar debt securities issued by institutions such as African Development Bank, Asian Development Bank and European Bank for Reconstruction and Development.

This debt has strong - often AAA - credit ratings, high liquidity, and a higher yield than US Treasuries.

The launch is UBS' first collaboration with an external fund manager on a development bank bond ETF.

The fund will be distributed in Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom.

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