Some active managers that have entered the ETF space have dealt with the front-running issue with aplomb, indicating it is a non-starter for them. For example, the Calamos Focus Growth ETF (NASDAQ: CFGE), the first actively managed exchange traded fund from Calamos Investments, is the ETF offshoot of the firm’s Calamos Focus Growth Mutual Fund (CBCAX). CFGE launched in mid-July and is off to a solid start, having outperformed the S&P 500 since coming to market while attracting $23.4 million in assets. [Hidden Benefit With New Calamos ETF]

In addition to BlackRock, Eaton Vance and Precidian, State Street (NYSE: STT) and T. Rowe Price (NasdaqGS: TROW) have also filed for active non-transparent active offerings.

Eaton Vance has proposed a new type of exchange traded managed funds, or ETMFs, where market makers would buy or sell shares based on the so-called proxy price that represents the fund’s end-of-day net asset value, or “NAV-based” trading. [Eaton Vance Files Amended Application for ETMFs Product]

Eaton Vance originally filed its exemptive relief for ETMFs in March 2013 and the application has been amended at least three times since then.

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