This time last year Neuberger Berman [profile]
revealed its ambitions to join the ranks of mutual fund firms that plan to offering active ETFs. Now it is refining its course. While the prior filing was more general in nature, the firm has now provided specifics on the active ETF it is planning.
The New York City-based asset manager said in a filing last week that they plan to launch the Neuberger Berman Real Return Active ETF
. [SEC filing
Company officials did not say how much they plan to charge for the ETF.
"The investment objective of the Initial Fund will be to provide risk-adjusted returns through investments in U.S. and foreign equity and fixed income markets," read the filing, which was picked up
by Morningstar ETF analyst Robert Goldsborough in his ETF Weekly column.
The details of planned fund comes a year after Neuberger sought the SEC's greenlight to launch active ETFs.
"As an active manager, we take interest in exploring alternative ways for clients to access our unique investment capabilities," said Neil Siegel
, managing director and head of marketing and product development at Neuberger Berman, in e-mailed comments to The MFWire.com
Other fund shops making a bet on active ETFs include
, which bought active ETF provider Grail Advisors this year, and Eaton Vance
, which launched a subsidiary last month called Navigate Fund Solutions LLC to develop exchange-traded managed funds. Eaton Vance acquired Managed ETFs LLC last year.
Armie Margaret Lee
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