The FTSE Euro FRN Investment Grade Bond Index (EuroFIG) is a multi-sector benchmark for investment-grade, Euro-denominated, government-sponsored, collateralised, and corporate floating rate notes (FRNs). Sub-indices are available by sector, maturity, and rating. The index provides exposure to the European FRN market, therefore providing opportunities to integrate diversified strategies into fixed income portfolios.
During periods of rising policy rates, low duration investment vehicles, like treasury bills and Floating Rate Notes (FRNs), insulate investors against the ‘death-by-duration’ in longer maturity bonds. Frequent coupon adjustments in FRNs give investors protection against rising yields, in contrast to straight bonds with fixed coupons and long duration.
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