© Reuters. U.S. non-transparent ETF proposal set to get SEC nod

NEW YORK (Reuters) – The U.S. Securities and Exchange Commission said in a filing on Monday it plans to approve Precidian Investments’ non-transparent exchange-traded fund (ETF) proposal.

The conditional approval would allow a new type of actively managed exchange traded fund that, like traditional active mutual funds, will not be required to disclose its holdings on a daily basis as most current active ETFs must. The SEC said it would approve the proposal unless its commissioners decide to order a hearing.

Precidian’s ActiveShares technology – which has been licensed by fund companies including ETF giant BlackRock Inc (NYSE:) – is designed for money managers who actively pick stocks and bonds instead of following a market index.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link