Pyxis I announces plans to launch Pyxis/iBoxx Liquid Loan ETF

By Toni Weeks

San Diego, July 3 - Pyxis Funds I announced in an N-1A filing with the Securities and Exchange Commission its plans to launch a new fund that tracks the senior secured loan universe.

The Pyxis/iBoxx Liquid Loan ETF will trade on the Nasdaq under the symbol "LQLN."

The new ETF will seek to provide investment results that correspond generally, before fees and expenses, to the price and yield performance of the Markit iBoxx Liquid Leveraged Loan Index. It will invest at least 80% of its assets in component securities of the underlying index.

The index is a subset of the Markit iBoxx USD Leveraged Loan Index and is a rules-based index consisting of some of the largest, most liquid loans, as measured by the number of active market participants trading the security and the dollar face amount of outstanding senior loans issued. The component securities primarily consist of senior loans to domestic or foreign corporations, partnerships and other entities that operate in a variety of industries and geographic regions. The securities are expected to be primarily below investment grade.

The portfolio managers will be Greg Stuecheli and Ethan Powell.

Shareholder fees and annual fund operating expenses have not yet been determined.

Dallas-based Pyxis Capital, LP will serve as the investment manager.

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