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Invesco plays to fixed income fears with floating note ETFs

Invesco plays to fixed income fears with floating note ETFs

Invesco has launched three floating rate note (FRN) exchange traded funds (ETFs) amid rising investor anxiety about global rate hikes.

More than half (55%) of flows into European bond ETFs in the first quarter of this year went into FRN ETFs, up on 20% in 2017, the company reported.

Invesco head of EMEA ETF fixed income product management Paul Syms, said: ‘We expect these ETFs to appeal to investors who either think bond yields are going to rise or who just want to take a defensive stance on interest rates.

The funds will benchmark agaist maturity and liquidity modified versions of the Bloomberg Barclays euro, US dollar and Swiss franc indices.

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