Newfleet Asset Management Launches New Multi-Sector Unconstrained Bond Fund

Sep 4 2015 | 7:15pm ET

Newfleet Asset Management has launched a new liquid-alternative unconstrained bond ETF on Virtus’s ETF services platform. 

Run by Newfleet’s president and CIO David Albrycht, as well as Newfleet executives Jonathan Stanley and Christopher Kelleher, the new vehicle will adhere to the company’s philosophy that dynamic allocation of credit exposure across bond markets and segments, along with disciplined risk management, is the right combination to generate long-term excess returns. 

Named the Virtus Newfleet Multi-Sector Unconstrained Bond ETF, the fund will invest according to a macro/interest rate outlook, which is then combined with sector analysis and fundamental issuer assessments of credit risk, management, and structure. The fund will carry a high-conviction, diversified portfolio of traded credit instruments across 14 sectors, with no restrictions on credit quality grade or domestic market.

Like all unconstrained bond funds, the new ETF is benchmark agnostic, according to liquid alternatives web site DailyAlts. The fund began trading on August 10 under the symbol NFLT and carries a net-expense ratio of 0.80%.

Hartford, CT-based Newfleet is a wholly-owned subsidiary of Virtus Investment Partners and provides a wide range of fixed-income products ranging from institutional strategies to mutual funds. The company has $12 billion in assets under management as of June 30, 2015. 

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