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NASDAQ OMX today announced that FlexShares, managed by Northern Trust, listed a new exchange traded fund, FlexShares Disciplined Duration MBS Index Fund (Nasdaq:MBSD), on The NASDAQ Stock Market® (NASDAQ®). MBSD will begin trading on NASDAQ today, September 4, 2014.
"Our Disciplined Duration MBS Index Fund is designed to reduce effective duration volatility while providing incremental yield potential and fixed income diversification," said 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 U.S. government agencies. The Fund is an accessible, daily traded and efficient investment product which provides fixed income MBS exposure. MBSD will be FlexShares' first listing on NASDAQ.
FlexShares came to market in 2011 and manages almost $9 billion in assets. It leverages Northern Trust's deep investment expertise, collaborative client relationships, and rich fiduciary heritage to deliver distinctive exchange traded products. Northern Trust's portfolio management capabilities in global index management, quantitative active strategies, global fixed income and multi-asset class solutions, provide the foundation for innovative product development.
"We appreciate Northern Trust's confidence in choosing NASDAQ to launch their new exchange-traded product," said Walt Smith, Vice President, Head of U.S. Equities & 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."
NASDAQ OMX operates an efficient platform for successfully introducing a product suite into one of the single largest pools of liquidity, including market participants which represent a full spectrum of investors. ETF issuers benefit from an end-to-end solution that provides ongoing product support including index licensing, listings opportunities, data offerings and trading services. As the home to some of the world's most innovative ventures, NASDAQ OMX generates opportunities for issuers to access new markets and deliver new concepts that change the way the industry develops, manages and applies ETFs.
