The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Friday, September 02, 2011|
BlackRock Wants to Launch Nontransparent Active ETFs
BlackRock is seeking the nod of the SEC to launch 13 nontransparent actively managed ETFs. [ SEC filing]
The planned funds will not disclose their portfolio holdings on a daily basis.
Bloomberg and IndexUniverse 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.
Printed from: MFWire.com/story.asp?s=37720
Copyright 2011, InvestmentWires, Inc.
All Rights Reserved