Russell has filed with the Securities and Exchange Commission (SEC) for exemptions in an effort to enter into the actively managed ETF segment of the industry. Some of the many exemptions include allowing funds of funds operated by Russell to buy shares of the ETFs in amounts beyond what is normally allowed under SEC guidelines and allowing ETFs launched by Russell to use the firm’s own indexes, according to Index Universe.
Russell is seeking to create index-based ETFs, as well.
Some of the other requests in the filing include:
- The funds could cover domestic stocks, international stocks or fixed income
- The holdings of each fund for the prior day, whether passive or actively managed, will be made available on a daily basis
- Basic operation of ETFs
So far this year we’ve seen a number of new and old names file for actively managed ETFs. Allianz, Claymore, State Street and Vanguard have all sought the OK from the SEC. BlackRock may dive in, and Grail Advisors launched their first active ETF earlier this year.
For more stories on actively managed ETFs, visit our actively managed cateogry.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. 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.