ETFs That Hide Their Portfolios Get Go-Ahead From U.S. Regulator
- T. Rowe Price, Fidelity and Natixis got nod on Tuesday
- Next battle is against one another, transparent ETFs
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Four new types of exchange-traded funds that allow money managers to hide their holdings have been approved by U.S. regulators.
T. Rowe Price, Fidelity, Natixis and Blue Tractor won permission from the Securities and Exchange Commission to create ETFs that disclose their holdings once a quarter, rather than every day like conventional ETFs. The watchdog indicated in November that it was inclined to approve the applications.