By Daily Record Staff
July 6, 2020
T. Rowe Price said July 6 it has received federal regulatory approval to launch four active exchange-traded funds, a milestone that allows the Baltimore-based asset manager to enter an increasingly growing market.
The U.S. Securities & Exchange Commission has granted the remaining approvals necessary for the firm to bring to market the funds, which will be listed on the New York Stock Exchange.
The first T. Rowe Price active ETFs will include the Blue Chip Growth ETF, the Dividend Growth ETF, the Equity Income ETF, and the Growth Stock ETF, all of which are constructed in a way to fit the company’s existing investment strategy, officials said.
The four ETFs will be open later in 2020, T. Rowe said.
ETFs will diversify and complement T. Rowe Price’s traditional mutual fund offerings for investors who prefer the
intraday trading, tax efficiency, and cost structure ETFs provide, the firm said.
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Source: The Daily Record