Invesco unveils Europe's first ETF for exposure to US municipal bonds
Today's launch of the Invesco US Municipal Bond UCITS exchange traded fund (ETF) seeks to provide investors with an opportunity for higher yields than are generally available from the US investment grade credit market without taking on additional credit risk.
The ETF is the first of its kind in Europe.
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Gary Buxton, head of EMEA ETFs and Indexed Strategies at Invesco, said: "We are pleased to be bringing the first municipal bond ETF to the European market. This launch opens the door to an asset class that until now has been difficult for investors to access. Municipal bonds, or ‘munis' for short, offer higher yields, better average credit ratings and much lower default rates than US investment grade credit. We believe that unusual profile could make them attractive for many income investors."