State Street Global Advisors (SSGA) has launched the first European exchange traded fund providing exposure to short maturity emerging market bonds in hard currency.
The ETF has been listed on the Deutsche Börse and tracks BofA Merrill Lynch 0-5 year EM USD Government Bond ex-144a index.
The new ETF expands on the emerging market fixed income capabilities of the company. the launch follows that of the SPDR Thomson Reuters Global Convertible Bond Ucits ETF trading on the London Stock Exchange and Deutsche Börse.
SSGA is the asset management arm of State Street Corporation and manages $415bn (€332bn) in 220 ETFs as of September 30.
Francesco Lomartire, SPDR ETFs Sales Specialist for Italy and Ticino, commented: “This ETF broadens opportunities in the bond market of EMs and strengthens our expertise in the fixed income space in these countries.”