Pioneer Investments has teamed up with Navigate Fund Solutions, a subsidiary of Eaton Vance Corp, to support the launch of a family of Pioneer NextShares exchange-traded managed funds.
Lisa Jones, President and Chief Executive Officer of Pioneer Investment Management USA Inc, says: “NextShares offer the potential for an enhanced client investment experience and outcome, a commitment Pioneer has focused on since 1928. NextShares are an innovative way to deliver our active management to investors.”
NextShares are a new type of actively managed fund designed to provide better performance for investors because as exchange-traded products, NextShares have built-in cost and tax efficiencies. Unlike conventional ETFs, NextShares protect the confidentiality of fund trading information and provide buyers and sellers of shares with transparency and control of their trading costs. As a result, NextShares can offer advantages over both mutual funds and ETFs as vehicles for active investment strategies. A range of leading asset managers have announced plans to offer NextShares funds to their investors.
“We are delighted to add Pioneer to the list of fund sponsors that have announced plans to offer NextShares,” says Stephen W Clarke, President of Navigate. “By working together and in partnership with broker-dealers, we seek to evolve the delivery of active management to a higher-performing and more tax-efficient structure.”