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Whitepaper: Converting Mutual Funds Into ETFs

In our most recent podcast on converting a mutual fund to an ETF we briefly discussed the related legal and operational challenges in the conversion. In this updated whitepaper, we delve deeper into the key considerations and challenges in converting a mutual fund into an exchange-traded-fund.

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Flash Analysis: Making Sense of the Non- and Semi-Transparent Active ETF Models

Practices: Asset Management, Investment Management

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On November 14, 2019, the SEC issued notices for four “semi-transparent” active ETF models – the T. Rowe, Fidelity, Blue Tractor, and Natixis/NYSE applications. These “semi-transparent” models noticed for approval reflect variations of a “proxy portfolio” approach, where there is some transparency into the ETF’s holdings and baskets available to authorized participants (APs) and other market participants. The enclosed contains a brief comparison of some of the principal features of the non- and semi-transparent active ETF exemptive models.

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