Northern Trust has launched a new family of exchange-traded funds called FlexShares. The four funds, which are trading on the New York Stock Exchange, are based on indexes created and maintained by Morningstar and Markit.
The new offerings are the FlexShares Morningstar Global Upstream Natural Resources Index, FlexShares Morningstar U.S. Market Factor Tilt Index, FlexShares iBoxx 3-Year Target Duration TIPS Index and FlexShares iToxx 5-Year Target Duration TIPS Index funds.
“FlexShares represent Northern Trust’s global expertise in asset management, investment solutions and risk management,” said Shundrawn Thomas, head of the ETF group at Northern Trust. “With $684 billion in assets under management, Northern Trust has deep connections to sophisticated investors, and FlexShares reflect our insights into investor needs in an evolving marketplace.”
-- This article first appeared on Money Management Executive.