Invesco Seeks SEC Nod for ETF Designed to Thwart Copycats
- The firm wants to keep portfolio holdings confidential
- Products would be actively run, like most mutual funds
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Invesco Ltd. wants to start a new type of exchange-traded fund that conceals its portfolio.
The actively-managed ETFs would rely on Invesco’s own, proprietary design, according to regulatory filings from the $1.2 trillion money manager. Unlike conventional ETFs, which mostly track an index and publish a full list of assets every day, these funds would keep some of their holdings hidden to protect their strategies from copycats.