Jefferies Seeks ETF Exemption From SEC

By
Heather Bell
September 02, 2009
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Jefferies has filed with the SEC to enter the U.S. ETF marketplace.

 

Jefferies Asset Management, a subsidiary of Jefferies Group, has taken the first steps to entering the U.S. ETF market with the filing of a 40-APP seeking the necessary exemptions from the Securities & Exchange Commission.

The filing provides rough details on two initial funds – one that would cover domestic equities and one that would cover domestic fixed income issues. It also indicates that the firm plans to launch additional funds after the first two. Both of the initial funds would track indexes, although no details were provided about the underlying indexes or their providers.

Jefferies Group main subsidiary Jefferies & Company is a global investment bank with operations in 25 cities.

Read the initial 40-APP filing here.

ETF DAILY DATA

'SPY' lost $2.48 billion on Wednesday, Jan. 28, as net outflows and a lower stock market pulled total U.S.-listed ETF assets below $2 trillion.

'SPY' paced SSgA's issuer-leading outflows on Wednesday, Jan. 28, as net outflows and falling stocks pulled total U.S.-listed ETF below $2 trillion.

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