Securitize and Neuberger launch tokenised income fund

Securitize and Neuberger have launched a tokenised fixed-income fund investing primarily in high-yield bonds, CLOs and leveraged loans. The product marks Neuberger’s first role as sub-adviser to a tokenised fund and brings an established institutional credit strategy onto four public blockchain networks.

Securitize and Neuberger have launched a tokenised fixed-income fund that brings an institutional high-yield strategy onto public blockchain infrastructure, providing another example of traditional asset management capabilities moving into digital securities markets.

The Neuberger Securitize High Income Tokenized Fund, known as HINC, invests primarily in high-yield bonds alongside other income-producing fixed-income assets including collateralised loan obligations and leveraged loans. Neuberger is acting as sub-adviser and brings a fixed-income platform overseeing more than $230bn in assets.

HINC is available across Avalanche, Ethereum, Solana and Sui. The fund is targeted at eligible accredited investors and qualified purchasers, with access subject to onboarding, KYC and AML requirements, jurisdictional restrictions and applicable securities laws.

The significance for the asset-management industry is less about the individual fund and more about the operating model. Securitize is providing tokenisation infrastructure alongside fund administration and other operational services, while its regulated affiliates provide the investment-adviser and distribution functions.

That creates a model in which portfolio management remains recognisably traditional while issuance, transfer and elements of investor servicing move onto blockchain infrastructure.

The development comes as tokenisation increasingly moves from experimental projects involving money-market funds and private assets towards a broader range of investment strategies. Fixed income is potentially well suited to the model because investors can combine traditional portfolio exposure with digital settlement and distribution mechanisms.

There are, however, operational and regulatory issues that remain important. Securitize’s own disclosure highlights additional risks associated with blockchain-based fund interests, including digital-asset custody, smart contracts, network failures, cybersecurity and evolving regulation.

For asset managers, the development raises a practical question: whether tokenisation becomes a separate distribution channel or eventually forms part of mainstream fund infrastructure.

Neuberger’s participation is significant in that context. An established global manager using tokenised infrastructure for an actively managed credit strategy suggests the technology is moving beyond specialist digital-asset firms and into conventional institutional investment products.

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