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ALPS to launch NextShares exchange-traded managed funds

ALPS to launch NextShares exchange-traded managed funds

ALPS has entered into a preliminary agreement with Navigate Fund Solutions LLC (Navigate), a subsidiary of Eaton Vance Corp. (NYSE: EV), to support the launch of a family of ALPS NextShares exchange-traded managed funds (ETMFs).

The new ALPS NextShares funds will be launched through the ALPS ETMF Trust, which is designed to provide a turnkey solution for investment managers looking to launch new NextShares funds. NextShares are a new type of actively managed fund seeking to provide better performance and improved tax efficiency for investors through lower operating costs and improved trading efficiency. NextShares can invest in all the same asset classes and strategies as mutual funds, including equity, income, alternative, and multi-asset investments. As exchange-traded products, NextShares have built-in cost and tax advantages. Unlike conventional exchange-traded funds, NextShares provide buyers and sellers of shares with transparency of their trading costs and protect the confidentiality of fund trading information. NextShares were developed by Navigate Fund Solutions LLC, a subsidiary of Eaton Vance Corp.

“It’s clear to us that NextShares can offer certain advantages as vehicles for active investment strategies,” says Ned Burke (pictured), Chief Executive Officer, ALPS Holdings, Inc. “As pioneers in product development, we look forward to working with Navigate to bring this new product initiative to the marketplace.”

The timing of the NextShares launch depends upon final regulatory approval and market readiness.
“We believe that the improved performance and tax efficiency of NextShares is what fund investors have been waiting for,” says Stephen W Clarke, President of Navigate. “We look forward to working with ALPS to introduce this game-changing idea to investors and the financial advisors who serve them.”

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