Northern Trust has a new ETF to compete with money market mutual funds. The new FlexShares Ready Access Variable Income ETF (RAVI) aims to give investors an interest experience at the very least, above zero.

RAVI launched on NYSE Arca, reports Forbes. The report also states that RAVI should find its own market through the ready distribution of Northern Trust [profile], its mother company.

This ETF will be PMed by three short-duration fixed income managers.

Shundrawn Thomas, Northern Trust's head of ETFs, said they "can't come out and swing for the fences."

"Investors are looking for the right mix of income and liquidity," he said. 

Edited by: HFD


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