April 29, 2011 at 10:00 AM EDT
UBS Debuts BDC ETN (BDCS)
UBS has made another addition to its fast-growing ETN lineup, rolling out a product linked to an index consisting of U.S.-listed business development companies (“BDCs”). Th E-Tracks Linked to the Wells Fargo Business Development Company Index (BDCS) is an exchange-traded note due in April 2041. The underlying index currently consists of about 26 BDCs, including Ares Capital Corp., American Capital Ltd., and Apollo Investment Corp. BDCs are generally involved in lending money to small and mid-sized companies, often establishing equity stakes in the companies as well. The portfolio of Ares Capital, one of the largest components of the index linked to BDCS, consists of 1st Lien Senior Debt, 2nd Lien Senior Debt, Senior Subordinated Debt, Senior Secured Loan Program, Equity, and commercial real estate. The portfolio of a BDS may consist of various types of investments in dozens or even hundreds of privately-held companies. Unique Exposure BDCs are legal entities [...] Click here to read the original article on ETFdb.com. Related Posts: 11 Rapid Fire ETF Ideas For 2011 How Record Private Equity Cash Pile Could Move PSP Will Buyers’ Market Boost Private Equity ETF (PSP)? Ten ETF Ideas For 2010 October ETF Roundup: Launches, Filings, and Closures
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