Bloomberg has announced the launch of the Bloomberg Goldman Sachs Community Municipal Index (Ticker: I37248), focused on one-to-15-year maturities within the investment grade municipal bond universe with targeted allocation into municipalities and projects that meet certain classification requirements.
This launch follows recent Sustainable Index introductions, including the Bloomberg Global Aggregate Green, Social, Sustainability Bond Indices and the Bloomberg U.S. Municipal Impact Index both tracking Green, Social, and Sustainability Bonds and fields that show alignment with International Capital Market Association (ICMA) Principles and Guidelines.
The new index is a market-value weighted combination of two components of the intermediate-segment of Bloomberg’s flagship Municipal Index. One component includes bonds which are classified as Green, Social or Sustainable by the Bloomberg Sustainable Finance Solutions Group and are in alignment with ICMA Principles, as well as pre-refunded bonds. The other component includes bonds whose municipal sources, sectors, purposes or credit enhancements are not associated with negative environmental or social outcomes, such as casinos or lottery.
“We are glad to announce the Bloomberg Goldman Community Municipal Index created in collaboration with Goldman Sachs Asset Management,” says Nick Gendron, Global Head of Fixed Income Index Product at Bloomberg. “The launch reiterates our commitment to offering best-in-class Municipal Indices through our access to industry standard municipal data sets, sophisticated index construction capabilities, as well as opportunities focused on sustainability in the fixed income space.”
The index has been adopted for the recently launched Goldman Sachs Community Municipal Bond ETF (ticker: GMUN).
