In the Margins
JPMorgan Chase & Co. is the latest asset managers to back a new type of exchange-traded fund that mimics active strategies but keeps its investments secret. The concept, designed by Precidian Investments, has so far been rejected by the Securities and Exchange Commission despite support from industry giants including BlackRock, American Funds owner Capital Group, and Legg Mason, which owns a minority stake in Precidian. Read the original story from The Wall Street Journal.
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