Product & Service Launches 8/21/25

Neuberger Berman Launches First Interval Fund Offering Private Credit Access

Neuberger Berman launched the NB Asset-Based Credit Fund, the firm’s first interval fund designed to provide individual investors access to private credit solutions. Managed by Neuberger’s Specialty Finance group, the actively managed strategy will invest in short-duration, income-generating, asset-based credit instruments across receivables lending, consumer and small business loans, real assets, revenue-based loans and public asset-backed securities.

The fund is structured as a closed-end interval fund registered under the Investment Company Act of 1940, with daily valuations, low investment minimums, 1099 tax reporting and limited quarterly liquidity via repurchase offers.

“Financial advisers are growing increasingly sophisticated in their use of alternative assets in client portfolios. The NB Asset-Based Credit Fund offers an accessible structure for investors to achieve that goal,” said Scott Kilgallen, managing director and head of North American intermediary at Neuberger. “The fund is launching at a critical moment as financial advisers are looking for diversified sources of credit returns, and Neuberger is well positioned to capitalize with a seasoned team whose deep industry network enables opportunities for attractive deal flow origination and structuring.”

Vanguard and Wellington File for New Active Equity ETFs

Vanguard and Wellington Management Company filed registration statements with the U.S. Securities and Exchange Commission for three new actively managed equity exchange traded funds, projected to launch in the fourth quarter of 2025. The funds include the Vanguard Wellington Dividend Growth Active ETF, Vanguard Wellington U.S. Growth Active ETF and Vanguard Wellington U.S. Value Active ETF.

The ETFs are designed to provide investors with complementary approaches across dividend growth, growth and value strategies, each managed by seasoned Wellington portfolio managers. Expected expense ratios range from 0.30% to 0.40%.

“These ETFs are not just new products—they’re thoughtfully designed building blocks that reflect our long-standing commitment to disciplined product development and investor outcomes,” said Ryan Barksdale, head of active equity product at Vanguard, in a statement. “By combining Wellington’s active management expertise with the structural benefits of ETFs, we’re aiming to deliver low-cost, active, transparent and tax-efficient solutions for today’s investors.”

Manulife John Hancock Investments Launches Global Senior Loan ETF

Manulife John Hancock Investments announced the launch of the John Hancock Global Senior Loan ETF, expanding its ETF lineup to 18 funds with more than $7.5 billion in assets under management. Subadvised by Manulife CQS Investment Management, the actively managed fund aims to deliver high current income by investing at least 80% of assets in a diversified portfolio of senior loans, including secured floating-rate bank loans and credit facilities.

The ETF will be managed by James Fitzpatrick, CIO North America and head of global loans at Manulife CQS IM. Executives highlighted the fund’s role in helping investors seek income and manage duration risk amid market volatility. “This ETF is designed to help investors pursue income and diversify their portfolios more effectively. It complements our existing active fixed-income ETF lineup and offers a compelling option for those seeking income generation, duration management and enhanced total return potential,” said Kristie Feinberg, president and CEO of Manulife John Hancock Investments, in a statement.

Janus Henderson Launches Global AI ETF

Janus Henderson Investors announced the launch of the Janus Henderson Global Artificial Intelligence ETF, an actively managed fund designed to capture opportunities by investing in AI companies. The portfolio aims to identify disruptive businesses reshaping industries through AI, spanning beyond traditional technology sectors.

The firm’s investment team said that active, bottom-up research is key to identifying future AI leaders and capitalizing on long-term growth trends.

“We believe AI could be the greatest productivity booster since the Industrial Revolution,” said portfolio manager Denny Fish in a statement.