NYU Stern Professor Ed Altman’s latest project was highlighted in the Wall Street Journal. Altman, inventor of the Z-score model and Z-score+ app, is set to release a new exchange-traded fund (ETF) called “Market Vectors-Altman Default & Distressed Bond ETF.” The new ETF, comprised of half distressed bonds and half defaulted bonds, is a unique type of distressed debt investing. Altman formally announced this new ETF at NYU Stern’s recent Hedge Fund Association Conference. The proposal was submitted to the SEC in November 2012.
“I’ve oftentimes been asked ‘Why not make the [Altman-Kuehne Defaulted Bond] index into a product that people can trade?’” Mr. Altman said. “For the first time, we’re going to make an attempt at it.”
Read more about Altman’s ETF. Ed Altman is the Max L. Heine Professor of Finance at the Stern School of Business, New York University and taught Bankruptcy and Reorganization to the current MSRM class of 2013.