T. Rowe Price is developing a family of actively managed exchange-traded funds, which would mark the old-line asset management firm’s first foray into the space, The Wall Street Journal reports.
The funds will cover a broad range of sectors, including bonds, U.S. stocks and international stocks. “We want to explore ETFs for existing and prospective clients who may want to access our investment expertise through such a vehicle,” said T. Rowe spokeswoman Heather McDonald. “We see them as another potential vehicle for the delivery of our investment management services.”
To date, there are an estimated 13 actively managed ETFs with combined assets of $83 million, a mere drop in the $739 billion ETF bucket totaling 802 funds, according to data from IndexUniverse.com and State Street Global Advisors.