The Securities and Exchange Commission has granted T. Rowe Price exemptive relief to issue actively managed ETFs, according to Morningstar reports.
Last month's update revealed that the first active ETF T. Rowe plans on offering will be T. Rowe Price Diversified Bond ETF. It will seek positive total returns with an emphasis on income. A spokesman for the firm was not immediately available to comment on the new fund.
According to Morningstar, T. Rowe's not the only company to win exemptive relief to issue active ETFs, including Eaton Vance, Federated Investors, Legg Mason and Northern Trust. None of these companies have issued their active ETFs just yet, although Northern Trust currently issues passively managed funds.