The empire of what's left of Lehman Brothers continues to be dismantled, including its fixed-income indexes.
Barclays Global Investors (BGI) has changed the name of underlying indexes for 14 bond iShares ETFs to "Barclays Capital Indexes" from Lehman. The change is part of a re-branding effort to integrate Lehman's indexing business, which was acquired by Barclays during the fourth quarter of last year.
"We have combined two great franchises to create a leader in the index business that covers the whole spectrum from benchmark to strategy indices," says Larry Kantor, head of research, Barclays Capital. "We are very excited by the enormous opportunities afforded by this expanded index platform, across the full range of products and our locations around the world."
Barclays continues to maintain the index calculation, publication and analytical infrastructure and tools that were part of the former Lehman Brothers index platform. The funds' investment objectives, tickers and respective indexing methodologies in connection with these name changes remain the same and no shareholder action is required.
In related news, State Street Global Advisors has also renamed its 10 bond ETFs to reflect the Barclays index re-branding.
Ron DeLegge is the San Diego-based editor of www.etfguide.com