FYI: Fidelity Investments unveiled plans for a completely new hybrid fund structure on Thursday in a filing with federal securities regulators.
The Boston fund giant petitioned the Securities and Exchange Commission to approve what it calls non-transparent exchange traded active funds, or ETAFs. Read the filing here.
Recall that so-called non-transparent fund structures have been in the works for years, viewed by legacy fund companies as vehicles for selling stock-picking strategies while passive, index-tracking exchange-traded funds gobble market share. U.S. stock ETFs have taken in $343 billion since the start of 2009, compared with the $729 billion that has moved out of actively managed U.S. stock mutual funds over the same period, according to Morningstar
Regards,
Ted
http://blogs.barrons.com/focusonfunds/2016/08/11/fidelity-investments-unveils-plans-for-new-hybrid-fund-structure/tab/print/
