BlackRock

The longer the trend continues, the more likely its effects could spread to bank earnings and the economy.

“People need to know what the rules are,” an industry consultant says.

The delay was partly prompted by BlackRock’s testimony that policymakers, not index compilers, should set corporate governance standards.

The fund will give investors exposure to noninvestment-grade bonds for less than half the cost of its flagship high-yield offering.

The move comes as part of a wider push to deepen the firm’s offerings across income-generating assets.

The funds gained an average of 13.3% a year over the past decade, which began before the financial crisis.

The asset manager’s institutional assets have grown in each of the past five years, increasing about 45% since 2011.

The manager expects the rule would remove some of the impediments faced by wannabe ETF issuers.

One option for clients to consider is municipal bonds, which offer tax-free yields.

Data reported by FUSE Research.