Neuberger launches first tokenized fixed-income fund with Securitize across four blockchains
Key Takeaways
- •Neuberger launched its first tokenized fixed-income fund, the High Income Tokenized Fund (HINC), marking the firm's debut as a subadvisor to a tokenized product.
- •The fund will invest primarily in high-yield bonds, with additional exposure to collateralized loan obligations and leveraged loans, and is open to qualified investors.
- •Securitize provides the infrastructure to issue and manage the fund's tokenized shares across Ethereum, Solana, Avalanche and Sui.
- •Securitize holds roughly $4.96 billion in distributed asset value across 26 tokenized real-world assets, including BlackRock's $2.7 billion BUIDL fund.
- •Securitize shares rose about 5% in Tuesday morning trading to a market capitalization of roughly $838 million, though the stock remains down more than 50% from levels after its July public debut.
Asset manager Neuberger has launched its first tokenized fixed-income fund through Securitize, offering an actively managed high-yield strategy across four blockchains: Ethereum (ETH), Solana (SOL), Avalanche (AVAX) and Sui (SUI).
The Neuberger Securitize High Income Tokenized Fund (HINC) will invest primarily in high-yield bonds, with additional exposure to collateralized loan obligations and leveraged loans, according to an announcement on Tuesday.
The launch comes as investors demand higher yields amid heated competition for corporate and government funding. "The previous market regime rewarded investors for assuming that capital would remain cheap and plentiful," Saxo chief investment strategist Charu Chanana said in a Tuesday client note. "The emerging regime may reward investors for recognising that capital has a price again."
The new fund is open to qualified investors, with Securitize providing the infrastructure to issue and manage tokenized shares across the four blockchain networks. Tokenized funds record share ownership on a blockchain, a structure issuers say can enable faster settlement and around-the-clock transfer of fund shares. Ethereum hosts the largest share of tokenized real-world asset value among public blockchains, according to RWA.xyz data, and issuers have increasingly distributed tokenized products across multiple networks.
Neuberger will serve as subadvisor to a tokenized fund for the first time. The firm's fixed-income platform manages more than $230 billion in assets, while Neuberger oversees about $613 billion overall.
Securitize holds roughly $4.96 billion in distributed asset value across 26 tokenized real-world assets, according to RWA.xyz data. Its product lineup includes BlackRock's $2.7 billion BUIDL fund, a $355 million tokenized AAA CLO fund and a $95 million Apollo diversified credit fund. BlackRock launched BUIDL in March 2024, and Franklin Templeton's on-chain U.S. government money fund became the first U.S.-registered mutual fund to process transactions and record share ownership on a public blockchain when it launched in 2021.
The company's shares rose around 5% in Tuesday morning trading, giving it a market capitalization of about $838 million. Despite the gain, the stock remains down more than 50% from levels reached shortly after its public debut in July.