Several well-known asset managers are seeking approvals from U.S. regulators to list non-transparent ETFs. The vast majority of traditional, passive ETFs disclose holdings on a daily basis.
There have been a handful of so-called non-transparent, ETF-like petitions set to SEC over recent years. For instance, Eaton Vance’s NextShares suite of exchange traded managed funds, or ETMFs, have already received SEC approval. Other structures, such as those from Precidian Investments, BlackRock, T. Rowe Price and Capital Group, are still waiting on regulatory approval..”
“We have spent months dialoguing with authorized participant firms and exchange market makers, leading custodial banks and distributors and asset managers and believe the amended structure as described in our Application successfully addresses the needs of investors and issuers for a product that can deliver the attributes of active management with the cost and tax efficiencies of an ETF wrapper,” said Blue Tractor founder Terry Norman in the statement.
For more information on the ETF industry, visit our current affairs category.