Legg Mason [profile] has two active equity ETFs and one active fixed income ETF in the pipeline, pending SEC approval.

On Monday the Baltimore-based mutual fund shop updated its filing with the SEC, requesting an exemption order to create a Legg Mason ETF Trust with three initial ETFs: the Legg Mason Western Asset Ultra-Short Duration ETF, the Legg Mason Capital Management Systematic Equity Fund and the Legg Mason Equal-Weighted Equity Sector Fund.

The deadline for requesting an SEC hearing on Legg's filing is November 15, 2012. According to the filing, "an order granting the requested relief will be issued unless the [SEC] orders a hearing."

Legg's move into active ETFs has been on the horizon for several years. In October 2009 at the MFWire Influencers' Summit, Legg's retail chief, Matt Schiffman, said that "the active ETF space may offer some opportunities" for Legg Mason. According to today's notice in the Federal Register, Legg first filed in February 2010, later updating the request in July 2010, April 2011, May 2012 and August 2012. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE