“The proposed rule was published in the Federal Register on June 13, 2016, and was subject to an initial review period of 45 days. The SEC has now extended the review period for the proposed rule for an additional 45 days. If the SEC approves the proposed rule at the conclusion of this review period, the funds intend to complete their conversion to ETFs as soon as practicable thereafter,” according to a statement issued Thursday.
It was revealed last month that Nuveen filed plans with the SEC to possibly launch an aggregate bond ETF, the NuShares Enhanced Yield U.S. Aggregate Bond ETF.
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That ETF “would track an index comprised of investment grade government, corporate, residential and commercial mortgage-backed securities and asset-backed bonds. It will track an index called the TIAA Enhanced Yield U.S. Aggregate Bond Index (TIAA Global Asset Management owns Nuveen),” reports Chris Dieterich for Barron’s.