Reported about 20 hours ago
BlackRock Inc. is transforming its high-yield municipal bond fund into the iShares High Yield Muni Active ETF (HIMU) to attract more investments by offering a cost-effective and liquid alternative. The fund aims to invest in state and local government debt with the goal of outperforming its benchmark. Launched as a mutual fund in 2006, it had assets of about $1.6 billion and returns of 8.6% over the last year. BlackRock anticipates significant growth in active ETFs, projecting assets to reach $4 trillion by 2030.
Source: YAHOO