FYI: (This Is A Follow-Up Article.)
What’s in a name? What’s in a fund structure? These two questions come into play regarding the expected rollout of exchange-traded funds based on the ActiveShares structure created by Precidian Funds that enable actively managed ETFs to divulge their portfolio holdings on a quarterly basis like mutual funds do, rather than on a daily basis like traditional ETFs must do.
The ActiveShares concept was approved by the Securities and Exchange Commission in May, and it’s the first to get the thumbs up from among several other entities that have approached the regulator in recent years seeking approval to roll out a structure letting active managers launch ETFs that don’t have daily portfolio disclosures. Those other platforms from the likes of T. Rowe Price, Fidelity Investments, Blue Tractor Group and a joint effort by Natixis Investment Managers and the New York Stock Exchange are still under review.
These product structures were initially labeled as "non-transparent" by the media and others, but Precidian calls them "semi-transparent" because it says ActiveShares funds provide the same quarterly portfolio transparency as mutual funds, which aren’t called non-transparent
Regards,
Ted
https://www.fa-mag.com/news/get-ready-for-a-new-wave-of-newfangled-active-etfs-52306.html?print
