Lehman Brothers Asset-Backed Securities Index
A fixed-income index that focuses on asset-backed securities. The Lehman Brothers Asset-Backed Securities Index serves as the performance benchmark for many ABS funds. The index includes pass-through, controlled-amortization and bullet-structured securities, which have a minimum average life of one year. Investopedia Says:
The Lehman Brothers ABS Index is a subset of the Lehman Brothers Aggregate Bond Index, a primary benchmark for bond funds. The ABS index focuses on three forms of asset-backed debt: credit cards, auto loans and home equity loans. All securities in this index are from senior classes of an issue, which means no subordinated tranches are included. Related Terms:
Asset-Backed Security - ABS
Bullet Repayment
Index
Lehman Aggregate Bond Index
Pass-Through Rate
Pass-Through Security
Tranches |