BlackRock Inc. is converting two mutual funds — managed by Chief Investment Officer of global fixed income Rick Rieder — into ETFs to better fit the strategies into the firm’s booming model-portfolio ecosystem.
The actively managed mutual funds will become the iShares Dynamic Equity Active ETF (ticker BDYN) and the iShares Disciplined Volatility Equity Active ETF (BDVL), according to a Monday press release. The funds will have “identical investment objectives” as their predecessor mutual funds, which control a combined $3 billion, the release said.