Legg Mason Readies Trio of Active ETFs: Report
October 29th 2012 at 3:30pm by John Spence
Legg Mason (NYSE: LM) has filed to launch a pair of actively managed stock exchange traded funds and an active bond ETF, according to a report.
“On Monday the Baltimore-based mutual fund shop updated its filing with the SEC, requesting an exemption order to create a Legg Mason ETF Trust with three initial ETFs: the Legg Mason Western Asset Ultra-Short Duration ETF, the Legg Mason Capital Management Systematic Equity Fund and the Legg Mason Equal-Weighted Equity Sector Fund,” MFWire reports.
The filing means the SEC could clear the ETFs to list soon.
Legg Mason has also filed to introduce a global bond ETF that would track an index. [Legg Mason Drafts a Passive Global Income ETF]
Last year, the asset manager filed Legg Mason Western Asset Ultra-Short Duration ETF, which would be an actively managed fund. [Legg Mason Files to Launch Bond ETF]
Earlier this year, Legg Mason’s CEO said the company was testing the waters in the ETF business. [Legg Mason, Fund Firms Mull ETF Entry]
The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.