Daily ETF Watch: NextShares Get Go-Ahead

Eaton Vance’s 18 ETFs in registration declared effective by SEC; will launch in early 2016.

Reviewed by: Heather Bell
Edited by: Heather Bell

It looks like nontransparent actively managed ETFs—in the works for yearswill soon become a reality. According to a Dec. 11 press release, Eaton Vance’s subsidiary NextShares Solutions has the necessary authorization to launch the 18 actively managed ETFs it has in registration. The funds cover various asset classes and strategies, and are slated to list on the Nasdaq stock exchange. They include the following:

In a press release, NextShares Solutions said it plans to launch the first NextShares in a “staged introduction” in the first quarter of next year.

The underlying approach of the NextShares allows for nontransparent actively managed ETFs. Instead of offering daily transparency, the funds can release their holdings to the public like any actively managed mutual fund, while the fund’s daily pricing is based on NAV-based trading using a methodology patented by ETF industry mainstay Gary Gastineau.

Among the funds that have licensed the NextShares approach from Eaton Vance are American Beacon, Gabelli, Hartford, Pioneer Investments, Nile Capital Management, Principal Financial Group, Victory Capital Management and Broms Asset Management.

Contact Heather Bell at [email protected].

Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a graduate of Dartmouth college and resides in the Denver area with her two dogs.