BondBloxx, an exchange-traded fund issuer specializing in bond ETFs, has joined with fixed-income asset manager Income Research + Management to launch a new ETF designed to maximize after-tax income on a bond portfolio, the firms said on Thursday.
On Thursday, BondBloxx partnered with Income Research + Management (IR+M) to launch the BondBloxx IR+M Tax-Aware Short Duration ETF (NYSE Arca: TAXX).
Veteran BlackRock portfolio manager Joseph Wolfe has come off of the $1.9bn BlackRock Large Cap Focus Value fund (MABAX) and the $7.8m BlackRock Global Impact fund (BGIMX), according to filings with the Securities and Exchange Commission (SEC).
Partnership between two leaders in fixed income investing brings IR+M’s institutional investment heritage and tax-aware strategy to the broader marketplace for the first time. Designed for investors seeking core bond exposures, TAXX aims to maximize after-tax income by optimizing across a wider opportunity set of short duration municipal and taxable bonds.