Eaton Vance [profile] is saying, "Let me wrap that up for you."

The firm's subsidiary Navigate Fund Solutions is working on creating an ETF-like wrapper for active mutual fund managers, ETF Trends writes, introducing a new acronym into the fund industry lexicon: ETMFs.

ETMFs, or exchange traded managed funds would not disclose holdings daily and represents a trend to index-tracking ETFs and away from active equity mutual funds, Nicholas Colas, chief market strategist at ConvergEx Group wrote, ETF Trends reports.

"Their edge: a claimed 50 basis point advantage over the traditional mutual fund cost structure. While they still need regulatory approval and industry buy-in, this is a sufficiently important development," ETF Trends quoted Colas as writing.

MFWire covered Eaton's filing for the product Friday.

To read more, click here here. 

Edited by: Casey Quinlan


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