is seeking the nod of the SEC to launch 13 nontransparent actively managed ETFs.
The planned funds will not disclose their portfolio holdings on a daily basis.
are among those that picked up on BlackRock's filing.
Here's an excerpt from the filing:
While the Funds are nontransparent ETFs, Applicants do not believe that the Funds raise any
significant new regulatory issues or that the lack of disclosure regarding a Fundís portfolio holdings on daily basis will in any way make the Fund more susceptible to manipulation for the benefit of one group over another. Rather, Applicants believe that nontransparency avoids the risks of "front running" and "free riding" to which actively-managed funds that disclose their holdings are subject.
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