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 …
State Street Begins Asset-Allocation ETF’s in Active Push By Alexis Leonids and Christopher Condon
– Apr 26, 2012 State Street Corp. (STT), the second- largest manager of exchange-traded funds, opened three products that can spread money across a range of asset classes in a push into actively managed ETFs. The funds will use tactical asset-allocation strategies and invest in ETFs including those run by State Street, James Ross, senior managing director of State Street Global Advisors, the Boston-based company’s money-management unit, said today at …