Aave Horizon to onboard fixed-income fund from Neuberger Berman and Securitize
Stani Kulechov, founder and CEO of Aave, announced a governance proposal to bring the Neuberger Securitize High Income Tokenized Fund, known as HINC, onto Aave Horizon as supply-only collateral. Neuberger Berman, the asset manager behind the fund, oversees roughly $230 billion in assets under management.
What HINC brings to the table
HINC is a high-yield fixed-income strategy fund that invests primarily in high-yield corporate bonds, collateralized loan obligations (CLOs), and bank loans. The fund requires a minimum investment of $100,000, which signals this isn’t aimed at retail participants. It’s built for qualified, institutional users who want exposure to below-investment-grade credit products while tapping into onchain borrowing.
If the Aave governance proposal passes, HINC holders would be able to borrow stablecoins including USDC, GHO, and RLUSD against their fund positions. That’s a meaningful expansion of what’s available as collateral on Aave Horizon, which until now has focused more on treasuries and investment-grade instruments.
Securitize handles the tokenization and infrastructure for HINC. The firm has previously worked with VanEck on its VBILL tokenized treasury fund.
Neuberger Berman itself serves as subadvisor on the fund. The firm is part of a larger group managing approximately $567 billion as of March 2026.
Why Aave Horizon matters
Aave Horizon is an institutional-grade lending protocol built on Ethereum, specifically designed for qualified users to borrow stablecoins against tokenized real-world assets. The platform already has hundreds of millions in market size. The onboarding of HINC would be Aave Horizon’s first below-investment-grade credit asset, moving the platform beyond the safer, more conservative corner of fixed income and into territory where yields are higher but so are the risks.
HINC’s multi-chain integration adds another layer to the story. The fund is structured to operate across Avalanche, Ethereum, Solana, and Sui, which gives institutional participants flexibility in choosing their preferred blockchain infrastructure.
The bigger picture for tokenized RWAs
The supply-only designation for HINC is worth noting. Collateral marked as supply-only can be deposited to earn yield or posted as collateral for borrowing, but it cannot itself be borrowed by other users. That constraint limits certain forms of leverage and rehypothecation, which is a sensible guardrail for a fund investing in below-investment-grade instruments.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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