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.
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.
Investment dictionary. Academic. 2012.
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