FlexShares, the exchange-traded funds arm of Northern Trust Corp., launched its first actively managed ETF, the FlexShares Ready Access Variable Income Fund (RAVI), a money market ETF that will invest in global short-duration, investment-grade fixed-income products, including U.S. Treasuries.

The new ETF will invests in what Northern Trust identifies as sound corporate, sovereign and asset-backed securities, including those that fall beyond the SEC Rule 2a7 restrictions imposed on registered money market funds, the firm said in a statement. RAVI trades on the New York Stock Exchange’s Archipelago Exchange (NYSEArca).

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