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Lehman Brothers Asset-Backed Securities Index

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Dictionary Says

Definition of '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

Investopedia explains 'Lehman Brothers Asset-Backed Securities Index'

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.

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