In more recent years, Barclays has introduced a range of alternative weight indices including fiscal strength and GDP-weighted indices, a new family of LDI benchmarks, and environmental, social, and governance (ESG) themed fixed income indices. Today the business comprises a broad offering of thousands of standard and bespoke indices spanning developed and emerging debt markets, investment grade and high yield bonds, fixed- and floating-rate debt, nominal and inflation-linked securities and the taxable and tax-exempt markets.
Since the introduction of the US Government and US Corporate indices in 1973, and the US Aggregate in 1986, the Barclays Index, Portfolio & Risk Solutions (IPRS) business has grown into the industry-leading global provider of indices and portfolio analytics. The launch of these indices coincides with the 40th anniversary of the Barclays index platform. "We see Mirror Futures Indices as an extremely useful index product for our clients to better align their portfolios with their specific interest rate outlook," said Terrence Burke, US Head of Futures Distribution and Execution and Head of Futures Electronic Distribution. "Investors seeking to adjust the duration of their fixed income portfolios in expectation of rising rates will now have an independent and rules-based benchmark alternative that scales the duration exposure to a desired level, while preserving the broad coverage and diversification of their existing fixed income investment set."īarclays is offering two types of indices for duration management, for both single-currency and multi-currency fixed income investors:īarclays Mirror Futures Indices (MFI) are indices whose return reflects a funded set of Treasury futures contracts, weighted to match closely the beginning-of-the-month option adjusted duration (OAD) profile of an underlying standard Barclays bond index such as the US Aggregate or Global Aggregate.īarclays Duration Hedged Indices (DHI) are funded indices that reflect the return of a Barclays fixed income index with its interest rate duration hedged (fully or partially) using its associated Mirror Futures Index.īarclays Mirror Futures and Duration Hedged Indices will be available for a number of existing flagship Barclays indices but can also be customized for client-specific benchmarks. "Movements in interest rates represent the largest driver of returns for fixed income investments," said Ajay Rajadhyaksha, Co-Head of FICC Research at Barclays.
"By continuing to invest in new index technology and developing new and innovative index products, Barclays is able to offer debt investors a full suite of index and portfolio risk solutions truly tailored to their strategic market perspective," said Brian Upbin, Head of Benchmark Index Research at Barclays.
0 kommentar(er)
