Invesco has launched the first ETF in Europe providing exposure to taxable municipal bonds, an asset class that which has been "difficult for investors to access", according to the firm.
The Invesco US Municipal Bond UCITS ETF will provide investors with higher yields than are generally available from the US investment grade credit market without taking on additional credit risk, Invesco said. Gary Buxton, head of EMEA ETFs and indexed strategies at Invesco, said: "This launch opens the door to an asset class that until now has been difficult for investors to access. European ETF market opens 2021 breaking €1trn barrier "Municipal bonds, or ‘munis' for short, offer higher yields, better average credit ratings and much lower default rates than US investment grade cr...
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