Amex to get active in ETFs
The American Stock Exchange (Amex) is planning to launch what is thought to be the US market's first actively managed exchange-traded fund (ETF). " We are close to having one agreement sealed with a fund company," says New York-based Charles Baker, managing director, new product development at Amex, adding that he expects to put in an application to the US Securities and Exchange Commission (SEC) fairly soon.
Up until now ETFs have been based on passive management strategies through participation
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