ETF Trends
ETF Trends

State Street has filed to launch actively managed exchange traded funds (ETFs), another sign of interest in this sector of the market. The Boston-based provider has filed to register six ETFs that are actively managed.

Oliver Ludwig for Index Universe reports that the funds cover a range of assets in different classes, and also span the globe to cover international equities as well as domestic.

Over 99% of the more than $1 trillion in assets in ETFs is in index funds, and active equity funds have, by and large, hit the market with a thud. State Street entering this area of the market is pivotal, as the firm sponsors of two of the largest ETFs trading, SPDR S&P 500 ETF (NYSEArca: SPY) and SPDR Gold Shares (NYSEArca: GLD). The move also puts the provider  in competition with iShares, the largest ETF provider. [ETFs Gaining Traction With Active Managers.]

State Street managed about $2 trillion in assets overall at the end of 2010.

Ironically, one of the largest active ETFs is PIMCO Enhanced Short Maturity Strategy Fund (NYSEArca: MINT), which is a cash-substitute ETF. MINT has become the first actively managed ETF to break the $1 billion milestone. [PIMCO’s ETF hits $1 Billion With Active Success.]

Active ETF assets in the U.S. were up 20% as of March 2011, rising over the $4 billion mark, reports Shishir Nigam on Daily Markets.

Eaton Vance has been approved to start launching actively managed ETFs, Ignites reported Tuesday.

Tisha Guerrero contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, 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.