FlexShares Credit-Scored US Long Corporate Bond Index Fund to launch

By Toni Weeks

San Luis Obispo, Calif., June 22 – FlexShares Trust plans to launch a new investment-grade fixed-income fund, according to an N-1A filing with the Securities and Exchange Commission.

The FlexShares Credit-Scored US Long Corporate Bond Index Fund will seek investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Credit-Scored US Long Corporate Bond index, which reflects the performance of a broad universe of dollar-denominated bonds of companies that are considered to have higher credit quality, lower risk of default and the potential for higher yield, price appreciation and liquidity relative to the securities comprising the parent index, the Northern Trust Investment-Grade US Long Corporate Bond index. The fund will normally invest at least 80% of its total assets in the securities of its underlying index.

Bradley Camden, Mike T. Doyle and Brandon P. Ferguson will be the portfolio managers.

Management fees and annual fund operating expenses have not yet been determined.

Shares of the fund are expected to trade on the Nasdaq stock exchange under the symbol “LKOR.”

Chicago-based Northern Trust Investments, Inc. is the investment adviser to the fund.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.