Nuveen Investments of Chicago and Epoch Partners, an investment banking firm in San Francisco, announced plans last week to introduce two more exchange-traded funds. Nuveen also announced that it is developing an actively-managed exchange-traded fund. Nuveen does not yet know whether it will introduce a single actively-managed exchange-traded fund or several of them, said Laurel O'Brien, a spokesperson for Nuveen.
Nuveen announced plans to introduce its first equity-based exchange-traded fund Oct. 16. The fund will be based on the America's Fastest Growing Companies index and traded on the American Stock Exchange, O'Brien said. Nuveen has not yet filed with the SEC to register the fund but has applied for exemptive relief from the Investment Company Act, O'Brien said. There are standard exemptions from the act that exchange-traded funds seek. The fund will be the first in a series of new equity exchange-traded funds, Nuveen said. The firm already has several municipal bond exchange-traded funds, Nuveen said.