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Monday, November 22, 2010

Neuberger Throws its Hat into the ETF Arena

News summary by MFWire's editors

Neuberger Berman [see profile] is jumping on the offer exchange-traded funds bandwagon by launching its own actively managed ETFs, IndexUniverse reports.

The New York-based firm has filed paperwork with the Securities and Exchange Commission detailing plans to offer a diversified basket of ETFs that invest in stocks and fixed-income securities inside and outside the U.S., currencies and funds-of-funds using ETFs managed by Neuberger Berman.

Neuberger Berman's initiative will reportedly put the firm in the crosshairs of Goldman Sachs [see profile], Legg Mason [see profile], J.P. Morgan [se profile], Dreyfus [see profile], Janus [see profile] Alliance Bernstein [see profile] and Pimco [see profile]

Edited by: Hung Tran

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