American Century Investments has launched a new Exchange Traded Fund (ETF), the American Century Multisector Floating Income ETF (FUSI), which is listed on the New York Stock Exchange (NYSE). FUSI is primarily focused on high credit quality and aims to generate attractive yield by investing across several investment grade floating rate security types, such as collateralized loan obligations (CLOs), commercial mortgages, residential mortgages, corporate credit and other similarly structured investments. The fund is managed by Charles Tan, Peter Van Gelderen, and Jason Greenblath and has a target duration of less than one year with a gross expense ratio of 0.27%.
ETF Newz Says:
FUSI is the latest addition to American Century Investments' active ETF lineup, which now has $21 billion in assets under management.
