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An asset manager that oversees investments for Blue Cross & Blue Shield of Minnesota is starting an exchange-traded fund (ETF) for insurers and other treasurers wanting to streamline their cash management.

The ETF, which will trade under the ticker AWTM, will be actively run by Aware Asset Management, which manages $1.6 billion, according to a press release from the company. The Aware Ultra-Short Duration Enhanced Income ETF, which costs $2.30 for every $1,000 invested, is designed to be a liquid, cost-effective alternative to earnings credits, commercial paper, and money-market funds, the statement said.

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