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Rating:Legg Mason Takes a Step Toward Active ETFs Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, February 23, 2010

Legg Mason Takes a Step Toward Active ETFs

Reported by InvestmentWires Staff, 

Four months after The MFWire broke the news that Legg Mason was considering getting into the active ETF space (click here to view the October 1, 2009 article), the Baltimore fund firm filed papers with the SEC on Monday requesting exemptive relief in order to offer the funds.

"The Future Funds may include one or more exchange-traded funds (“ETFs”) which invest in other open- and/or closed-end investment companies and/or ETFs (“Fund of Fund ETFs”)," Legg Mason officials wrote in the February 22 filing.

Speaking at a panel during The MFWire Influencers Summit in Boston last October, Legg Mason head of retail Matt Schiffman said the active ETF space "may offer some opportunities for us." 

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