An ETF pioneer could be reentering the ETF business soon, 13 years after dropping its first efforts in the space.
On Friday Chicago-based
Nuveen [
profile], now a
TIAA-CREF subsidiary,
filed with the SEC for an exemption to be able to launch active ETFs, both in equities and in fixed income. Trevor Hunnicutt of
InvestmentNews points out that Nuveen first asked for an ETF exemption in 2000, aiming for indexed bond ETFs, yet shut the unit down in 2002.
"It's a little hard to fault anyone for not seeing the writing on the wall,"
Dave Nadig chief investment officer of
ETF.com, tells
InvestmentNews.
"The active ETF market is much further advanced,"
Greg Bottjer, a Nuveen product development executive, tells the trade publication. "There's a lot more familiarity, comfort and exposure to active ETFs, and there are some large active asset management firms out there doing this. The momentum is really there today compared to where it was over 10 years ago."
So, fighting off ETF fever once does not permanently inoculate a firm against catching it again, in better market circumstances. 
Edited by:
Neil Anderson, Managing Editor
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