Financial services giant Charles Schwab Corp. (NYSE: SCHW - News) has filed to launch actively managed exchange traded funds. The broker and asset manager is the latest firm to position itself for an entry in the active ETF space.
According to a filing with the Securities and Exchange Commission, Schwab has requested regulatory relief to introduce actively managed ETFs. [Surveying Actively Managed ETFs]
At the end of February, Schwab managed 15 index-based ETFs with total assets of about $6.3 billion, according to data from the ETF Industry Association. [ETFs vs. Active Managers]
Most of the assets in the ETF business are in passively managed funds that follow benchmarks. However, more firms are launching active ETFs. Also, PIMCO recently launched an ETF version of Total Return Fund that will be managed by bond sage Bill Gross. [PIMCO ETF Puts Focus on Active ETFs]
Index Universe first reported on the Schwab active ETF filing on Thursday.