“The SEC had previously extended the review period for the proposed rule for an additional 45 days, and today the SEC further extended the review period for an additional 90 days. The SEC may take action on the proposed rule at any time during this extended review period, and may further extend the review period for up to an additional 60 days. If the SEC approves the proposed rule, the funds intend to complete their conversion to ETFs as soon as practicable thereafter,” said Nuveen in the most recent statement.
Earlier this year, Nuveen filed plans with the SEC to possibly launch an aggregate bond ETF, the NuShares Enhanced Yield U.S. Aggregate Bond ETF.
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.