State Street Global Advisors has amended its pending Securities and Exchange Commission filing for actively managed ETFs to explicitly exclude the use of derivatives.
The document now states that neither the new funds nor any future fund relying on the exemptive order will invest in options contracts, futures contracts, or swap agreements. If approved, the filing paves the way for a suite of actively managed SPDR ETFs, with SSgA Funds Management acting as adviser. The funds are set to pursue a strategy similar to existing target date mutual funds and will be managed according to an asset allocation strategy that becomes increasingly conservative over time. SSgA made the original filing over a year ago, but its approval has been delayed by the SEC's...
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