VanEck Australian Floating Rate ETF (ASX:FLOT)

VanEck Australian Floating Rate ETF is an exchange traded fund launched by VanEck Investments Limited. It is managed by Van Eck Associates Corporation. The fund invests in the fixed income markets of Australia. It invests in the floating rate bonds issued by corporate entities with maturity of minimum one month. The fund invests in the investment grade securities that are rated as at least BBB- by S&P and Fitch and at least Baa3 by Moody’s. It seeks to replicate the performance of the Bloomberg AusBond Credit FRN 0+ Yr Index, by employing representative sampling methodology. VanEck Australian Floating Rate ETF was formed on July 5, 2017 and is domiciled in Australia.