Baillie Gifford, a veteran asset manager, collaborates with BNY to launch an on chain fixed income tokenization fund, deploying Ethereum and Solana dual chains BlockBeats News: On June 22nd, Baillie Gifford, a well-established asset management company in Edinburgh, Scotland (established for over 118 years), and global custodian giant BNY jointly announced on Monday the launch of a tokenized fixed income fund - Baillie Gifford Enhanced Yield Fund (BAGEY), which will be deployed simultaneously on Ethereum and Solana public chains. The fund is denominated in US dollars and operates through an Open End Investment Corporation (OEIC) structure under the UK regulatory framework. It is open to qualified investors from the UK, Switzerland, and the Cayman Islands and offers actively managed short-term corporate bond portfolios with a current yield of approximately 7%. Unlike most tokenized products in the market, Theo Golden, head of digital assets at Baillie Gifford, emphasized that BAGEY is not a traditional fund that is wrapped in a token shell, but a fund directly issued on the chain. The blockchain itself is an equity register, and investors directly hold shares and enjoy direct recourse. BNY will provide tokenization and wallet infrastructure for the fund, with NatWest trustee and custodian service company serving as the fund custodian. The Global Head of BNY Investor Solutions stated that this issuance marks the transition of tokenization from concept to practical application, and the regulated fund structure is evolving towards a more digital and interconnected market. [Original link]