Bringing you live news and features since 2006 

Ivy Funds Thomas W Butch

Ivy Funds to introduce NextShares exchange-traded managed funds

RELATED TOPICS​

Ivy Investment Management Company, a subsidiary of Waddell & Reed, is teaming up with with Navigate Fund Solutions, to support the launch by Ivy Funds of a family of NextShares exchange-traded managed funds.

“Adapting to evolutions in the product landscape has always been one of Ivy’s priorities, as we seek to deliver our investment products in structures that the marketplace may desire,” says Thomas W Butch (pictured), president and CEO of Ivy Funds Distributor, Inc, and executive vice president of Ivy’s parent firm Waddell & Reed Financial, Inc. “NextShares can be a progressive way to offer Ivy’s actively managed products.” 

Butch says that NextShares also may be considered for Waddell & Reed Advisors Funds, Waddell & Reed’s other retail fund family.

NextShares are a new type of actively managed fund designed to have built-in cost and tax efficiencies. Like actively managed mutual funds, they are managed by an investment team that seeks to outperform a benchmark index. However, unlike conventional exchange-traded funds (ETFs), NextShares are designed to 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 potentially offer attractive features unavailable in other investment products. 

"Ivy Funds is an innovative and respected investment manager that we’re pleased to add as a NextShares partner," says Stephen W Clarke, president of Navigate. "Together with broker-dealers, we seek to evolve the delivery of active management to a higher-performing and more efficient fund structure."

Among other things, the Ivy Funds launch of NextShares is subject to securing exemptive order relief from the Securities and Exchange Commission to allow it to manage exchange-traded managed funds, as well as the development of implementation technology by broker/dealers and other market participants.

Latest News

News came last night from the US that the SEC has approved CBOE’s proposal to list and trade VanEck’s spot..
Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15 per cent increase in net..
European white label ETF platform, HANetf, has announced its total assets under management (AUM) has now exceeded USD4.31 billion...
New research from European ETF provider Tabula Investment Management shows investors are expecting improvements in ESG from the gold mining..

Related Articles

Timothy Rotolo, Range Funds
In 2023, Timothy Rotolo launched his business, Range Fund Holdings, the parent company for Range Indices and Range ETFs, followed...
Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by