The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:The SEC Smiles On Faust's Exchange-Traded Next Step Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, November 07, 2014

The SEC Smiles On Faust's Exchange-Traded Next Step

News summary by MFWire's editors

It looks like Tom Faust and his team will get the chance to offer their next-generation mutual fund product structure to the world.

Yesterday the Securities and Exchange Commission (SEC) revealed that, unless the commission orders a hearing, the regulatory agency is poised to grant Eaton Vance's [profile] exemptive relief request to launch "exchange-traded managed funds" [see the SEC's notice]. The brand, Faust reveals, will be NextShares. He has 18 ETMFs ready to go, all designed to trade in real time like an ETF but without an ETF's usual requirement of disclosing holdings daily.

The Financial Times, InvestmentNews, Reuters and the Wall Street Journal all covered the news.

Yet Faust can't launch the NextShares just yet. The SEC would also have to approve NASDAQ's proposed rule governing the listing and trading of the ETMFs. The SEC would have to approve registration statements for the specific funds. And the commission also could order a hearing on the ETMFs -- anyone who wants to talk to the commission about Eaton Vance's idea has to speak up by December 1.

Eaton Vance first filed for the ETMFs in March 2013, and they want other fundsters to launch ETMFs, too. Eaton Vance affiliate Navigate Fund Solutions holds the intellectual property related to the ETMFs, intellectual property that Eaton Vance has asked for permission to license to others. 

Edited by: Neil Anderson, Managing Editor

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

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use