Invesco PowerShares launches European short-dated high yield ETF

The PIMCO Euro Short-Term High Yield Corporate Bond Index Source UCITS ETF will invest in a selection of high yield securities with a maximum duration of five years with an issuer cap of 2%, excluding emerging market issuers in order to offer downside protection. The portfolio will be managed by PIMCO, which has selected an index aiming to have the same approach as a US short-term high yield fund. With interest rates and yields at low levels, the firm said the ETF will be for investors who are looking for income which they cannot get from government or investment grade bonds. It wi...