Legg Mason Inc. has a proactive approach to regulatory uncertainty: move onto something else. The $754 billion asset manager is considering starting its first debt-focused exchange-traded fund as it waits for news from the Securities and Exchange Commission on whether an innovative actively managed structure it wants to use for equity ETFs can go ahead. The debt fund will start in the first half of next year -- pending a nod from regulators, according to Tim Gilligan, an ETF product specialist at the money manager.
from FA News https://www.fa-mag.com/news/legg-mason-turns-to-debt-etfs-with-equity-funds-still-in-sec-limbo-35795.html
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