Within the next year, the mutual fund industry can expect to see a new share class attached to some equity funds that allows them to be traded throughout the day and includes features common to exchange-traded funds, according to executives in the mutual fund industry.

"I would expect that you'll see a gradual extension of the types of exchange-traded funds that are available," said Gary Gastineau, managing director of structured investments for John Nuveen Co. of Chicago. "There will be additional kinds of exchange-traded funds that will probably surprise people. Existing funds will add an exchange-traded share class, there will be actively managed exchange-traded funds and fixed income exchange-traded funds."

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