In Fund Action, Asset Management Partner Paulita Pike Discusses Invesco’s Innovative ETF Filing
Invesco Ltd., a leading global provider of exchange-traded funds (ETFs), announced on Sept. 25 that it filed an application with the U.S. Securities and Exchange Commission (SEC) requesting exemptive relief to build its own proprietary non-transparent active ETF model. Invesco is being advised and represented by Ropes & Gray on this matter.
In a Fund Action article titled “Invesco Files For Its Own Nontransparent ETF Structure,” asset management partner Paulita Pike explains that where the substitute basket differs on weightings or securities will be decided through a combination of a proprietary optimization process, market events, and portfolio manager desires. “I suspect the specifics of that will be teased out during the exemptive application process,” she said, and added that she expects the novel aspects of the Invesco application will “address what I anticipate will be several of the SEC’s areas of focus.”
The Chicago Daily Law Bulletin also named Ms. Pike as leading the Ropes & Gray team representing Invesco on the matter, which includes asset management partners Tom Hiller and Gregory Sheehan, strategic transactions partner Ed Black, tax partner Jim Brown, and asset management counsel Ed Baer.