Michigan Municipal Employees stocks up on BondBloxx ETFs, adding 9 in Q3.

Fixed-income portfolio In its fixed-income portfolio, MERS predominantly uses bond ETFs but also uses active managers in "inefficient" asset classes such as emerging markets debt, Mr. Van Gilder said in an email. BondBloxx entered a "relatively crowded and relatively concentrated" ETF marketplace and found success by focusing on the fixed-income market and offering investors "a more focused slice" of traditionally broad investment styles, Mr. Rosenbluth said. The BondBloxx team saw a gap in the emerging market debt ETF product marketplace where a low-cost, shorter-duration emerging market sovereign debt ETF could be a valuable addition, Mr. Van Gilder said. [Extracted from the article]