Sept. 24 (Bloomberg) -- T. Rowe Price Group Inc. has asked the U.S. Securities and Exchange Commission for permission to offer actively managed exchange-traded funds that wouldn’t disclose their holdings daily.
The first of the funds, if approved by regulators, would aim to beat the Standard & Poor’s 500 Index, according to the request, filed yesterday with the SEC. T. Rowe Price, based in Baltimore, joins BlackRock Inc. and Eaton Vance Corp. among money managers seeking the go-ahead to offer so-called non- transparent active ETFs.
“We see non-transparent active ETFs as an alternative vehicle for potentially delivering our investment management expertise to investors, without the prospect of daily disclosures impacting our existing mutual fund shareholders, consistent with their best interests,” Heather McDonold, a spokeswoman, said in an e-mailed message.
--Editors: Christian Baumgaertel, Sree Vidya Bhaktavatsalam