Asset Management Partner Brian McCabe Discusses Nontransparent Exchange-Traded Funds in Fund Directions
Asset management partner Brian McCabe is quoted in a July 10 Fund Directions article titled “Nontransparent ETFs may pose heightened oversight challenges for directors, experts say.” Mr. McCabe discusses how the use of the untested VIIV mechanism as a stand-in for NAV means that fund directors will have an obligation to monitor even more closely how their fund trades. “[Boards should want to make sure] that the prices individual investors pay are at least close to the then-prevailing value, which is the VIIV,” he says.