CHICAGO Nuveen Investments is preparing to launch its first exchange-traded funds tracking U.S. Treasury indexes.
The Fixed Income Trust Receipts, to trade on the American Stock Exchange. will be based on the indexes of one-, two-, five-, and 10-year Treasury issues and 20-year Treasury Strips (Separately Traded Registered Interest and Principal Securities).
They will track Ryan Labs Inc.s Ryan Treasury Indexes, which reflect the risk and return characteristics of so-called on-the-run Treasuries, the most recently auctioned Treasury securities for a designated maturity. The indexes are viewed as benchmarks for U.S. dollar-denominated debt.
Nuveen entered the exchange-traded funds market in October, when it started an equity ETF based on the Americas Fastest Growing Companies Index.
The company is awaiting regulatory approval of the Fixed Income Trust Receipts. It announced the launch plan Tuesday.