Schwab Prescibes ETF for Money Fund Malaise By Joe Morris
Charles Schwab has filed to launch an actively managed short-term bond exchange traded fund, in the latest sign that US fund managers see ETFs as the heirs to money market funds. The company’s proposed Active Short Duration Income ETF, its first active ETF, which will invest in investment grade short-term fixed income securities, professes to share the same goals as money funds – capital preservation and daily liquidity. It will …