Neuberger's $230B Bond Machine Lands On-Chain, Now Pick a Chain 🎯

Securitize has launched the Neuberger Securitize High Income Tokenized Fund (HINC), giving qualified investors on-chain access to an actively managed high-yield fixed-income strategy. The launch marks Neuberger's first role as a subadvisor to a tokenized fund and extends the asset manager's fixed-income platform, which oversees more than $230 billion in assets, onto public blockchain networks. The firm manages approximately $613 billion overall.

HINC will invest primarily in high-yield bonds, with additional exposure to collateralized loan obligations (CLOs) and leveraged loans. Neuberger will manage the portfolio and supply research support under the subadvisory arrangement. Securitize will handle the issuance and management of tokenized shares through its infrastructure. "We are pleased to work with Securitize to extend our process-driven, actively managed approach to qualified investors looking to access fixed income strategies on-chain," Neuberger Head of Product Management Anil Abraham said.

The fund is accessible across four blockchain networks: Avalanche ($AVAX), Ethereum ($ETH), Solana ($SOL) and Sui ($SUI). Eligible investors can select the chain that fits their infrastructure preferences. Securitize operates about $4.96 billion in distributed asset value across 26 tokenized real-world assets, according to RWA.xyz data.

Among Securitize's existing tokenized products are BlackRock's $2.7 billion BUIDL fund, a $355 million tokenized AAA CLO fund and a $95 million Apollo diversified credit fund. The company launched HINC as investor demand for higher yields has intensified amid heated competition for corporate and government funding. "The previous market regime rewarded investors for assuming that capital would remain cheap and plentiful," Saxo chief investment strategist Charu Chanana said in a Tuesday client note. "The emerging regime may reward investors for recognising that capital has a price again."

The launch contributed to a market reaction for Securitize, whose shares rose approximately 5% in Tuesday morning trading, lifting its market capitalization to about $838 million. The stock remains down more than 50% from levels reached shortly after its public debut in July.