New York Life Investment Management Debuts First Tokenized Bond Fund
New York Life Investment Management is tokenizing part of its fixed-income business through Centrifuge, launching the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio (HYB). It is NYLIM’s first tokenized product and one of the earliest high-yield bond funds placed on public blockchain infrastructure. The strategy’s investment process and risk management stay the same, but eligible investors can subscribe and redeem using USDC via tokens on Centrifuge’s platform. NYLIM, which manages about $807 billion, says tokenization is meant to improve transparency, efficiency, and access while complementing its traditional setup. Centrifuge says the move fits a broader effort to bring institutional funds onto more transparent, composable digital rails. The fund is not available to U.S. persons, reflecting ongoing regulatory caution as major asset managers expand blockchain-based products.
