Securitize has launched a tokenised fixed-income fund with Neuberger Berman, bringing the investment manager’s credit strategies to public blockchain networks and expanding the range of institutional products available through digital assets.
The Neuberger Securitize High Income Tokenized Fund (HINC) will invest mainly in high-yield bonds. It may also hold other income-generating assets, including collateralized loan obligations (CLOs) and leveraged loans.
The fund will be issued across Avalanche, Ethereum, Solana and Sui, allowing eligible investors to access it through four public blockchains.
The launch represents Neuberger Berman’s first appointment as sub-adviser to a tokenised fund. The investment manager oversees more than $230bn through its fixed-income platform.
“This tokenized fund brings Neuberger’s established fixed income capabilities to public blockchains,” said Securitize co-founder and chief executive Carlos Domingo.
Under the arrangement, Neuberger will be responsible for portfolio management and investment research. Securitize Capital will act as investment adviser, while Securitize Markets will offer interests in the fund.
Other Securitize affiliates will provide tokenisation, administration and operational services.
Anil Abraham, Neuberger’s head of product management, said the firm was making its “process-driven, actively managed approach available to qualified investors looking to access fixed income strategies on-chain.”
The product reflects a wider change in the development of tokenised financial markets. Early offerings were concentrated on US Treasury bills and money-market funds, but asset managers are increasingly exploring higher-yielding credit products that demand more detailed underwriting and active portfolio management.
HINC will only be available to eligible accredited investors and qualified purchasers. Participation will also depend on know-your-customer and anti-money-laundering checks, jurisdictional restrictions and relevant securities regulations.
The announcement follows Securitize’s entry into the public markets. The company began trading on 2 July, becoming the first firm to list its shares simultaneously on the New York Stock Exchange and onchain.
Securitize recorded record first-quarter revenue of $19.5m, an increase of almost 40% from the same period a year earlier. Its tokenised assets under management rose to $3.4bn.
The partnership with Neuberger expands Securitize’s platform beyond tokenised cash and government securities. By bringing high-yield bonds, leveraged loans and CLO exposure onto public blockchains, the company is testing whether the technology can support more complex areas of institutional credit.
The significance of the launch lies not only in the tokenisation of another investment fund. It also demonstrates how increasingly sophisticated investment strategies are beginning to use the same blockchain infrastructure that initially supported Treasury and money-market products.
Elsewhere in the market, Wells Fargo plans to launch tokenised deposits for corporate clients this autumn. The service will initially support transactions between US dollars and pounds.
