Eaton Vance Wins Exemptive Relief for ETMFs

Last month, the SEC granted the NASDAQ Stock Market approval to list Eaton Vance’s ETMFs.

“Because NextShares will provide market makers with opportunities to earn reliable, low-risk profits without intraday hedging of their fund positions, NextShares can be expected to trade at prices that are consistently close to NAV in the absence of daily portfolio holdings disclosure. Because the trading cost to buy and sell NextShares (premium or discount to NAV) is always explicitly stated, NextShares will provide investors with transparency of entry and exit costs unparalleled among exchange-traded products,” said Eaton Vance at the time the NASDAQ news was announced.

Eaton Vance and its affiliates managed $297.7 billion in assets as of October 31, 2014, according to Tuesday’s statement.

ETF Trends editorial team contributed to this post.