12.11.19
ETFs That Hide Their Portfolios Get Go-Ahead from SEC
by: Rachel Evans
T. Rowe Price, Fidelity, Natixis and Blue Tractor got permission from the SEC on Tuesday to create ETFs that disclose their holdings once a quarter, rather than every day like conventional ETFs. The approval sets up a new battle for active managers, who've watched trillions of dollars flow out of mutual funds and into ETFs over the last decade. Many proved slow to start their own ETFs, fearing the transparency that they traditionally require would reveal strategies and expose them to front-running. “The SEC's announcement today is a huge milestone for the ETF industry,” Greg Friedman, head of ETF management and strategy at Fidelity, said.
Read the full article on Bloomberg