FlexShares, managed by Northern Trust, has listed a new exchange-traded fund, FlexShares Disciplined Duration MBS Index Fund (MBSD), on The Nasdaq Stock Market.
MBSD began trading on Nasdaq on 4 September.
“Our Disciplined Duration MBS Index Fund is designed to reduce effective duration volatility while providing incremental yield potential and fixed income diversification,” says Shundrawn A Thomas, head of Northern Trust’s funds and managed accounts group. “It is another example of our flexible indexing approach enabling investors to construct and manage portfolios for the outcomes they seek to achieve.”
MBSD features a fixed income portfolio consisting of fixed rate mortgage-backed pass-through securities (MBS) issued by US government agencies. MBSD will be FlexShares’ first listing on Nasdaq.
“We appreciate Northern Trust’s confidence in choosing Nasdaq to launch their new exchange-traded product,” says Walt Smith, vice president, head of US equities and group revenue management at Nasdaq OMX. “As a leader in cutting-edge exchange-traded product innovations, we are pleased to offer Northern Trust exposure to traders that participate in multiple asset classes and execution platforms globally.”
