SPDR ETFs has cross-listed its new high yield exchange-traded fund (ETF) on the London Stock Exchange.
The SPDR Barclays Capital Euro High Yield Bond ETF aims to offer investors exposure to an “increasingly attractive” asset class that offers diversification away from investment-grade corporate bonds and government debt.
SPDR ETFs is the ETF arm of State Street Global Advisors (SSGA).
Euro high yield bond ETFs experienced inflows of €564 million in 2011, said SSGA quoting Morningstar Direct figures. This put the asset class within the top six ETF asset classes in terms of inflows.
The product is also listed on Deutsche Börse.
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