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Legg Mason Acquires Stake In Precidian Investments, Upping Ante In Battle For Hybrid Funds

TedTed
in The Bullpen
FYI: Asset managers’ dogfight over a new breed of ETF-hybrid funds intensified Friday after Legg Mason (LM) announced that it had acquired a minority stake in Precidian Investments.

Precidian is seeking regulatory approval for a fund structure that would allow stockpickers to shield holdings from daily public viewing and investors to buy or sell intraday, like an exchange-traded fund. The Precidian model would compete directly with Eaton Vance’s (EV) “exchange-traded managed funds,” the first of which are slated to launch early this year.
Regards,
Ted
http://blogs.barrons.com/focusonfunds/2016/01/22/legg-mason-acquires-stake-in-precidian-investments-upping-ante-in-battle-for-hybrid-funds/tab/print/

MutualFund Wire.Com Slant:
http://www.mfwire.com/common/artprint2007.asp?storyID=53323&wireid=2
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