PowerShares Applies to Offer Three Active ETFs

There are rumblings, once again, over the possibility of creating the first actively managed exchange-traded fund.

PowerShares Capital Management has filed with the Securities and Exchange Commission to offer three such equity-linked funds and has other plans to offer an actively managed bond ETF, as well, The Wall Street Journal reports.

“We’re hopeful these funds will create a tremendous new market for ETF investors,” said PowerShares CEO Bruce Bond. “We’re expecting this will open a lot of interest among active managers in ETFs.”

Matt Hougan, editor of IndexUniverse.com, agreed: “It’s certainly going to create a lot of excitement among investors who haven’t up to this point been interested in ETFs.”

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.