Semi-Transparent Active ETFs

Semi-transparent, or what some call, non-transparent, active ETFs are the newest wrapper to branch out of ETF evolution. There are currently 7 different semi-transparent active ETF structures at different stages of SEC approval and roll out. Each look to reduce costs, optimize tax impact and make use of the highly efficient ETF wapper for active management.

To come to market, asset managers need to wade through the SEC requirements, cultivate capital market functionality, educate Fund Boards, foster relationships with the ETF ecosystem, and sell into the broker/dealer community, all while remaining client-centric. It is effort worth doing but takes time and expertise. The ecosystem needs educated and experienced people to help them navigate the opportunities.

After having spent the bulk of my career at Broker-Dealers and having worked to accommodate and promote the transparent ETF and later the Active ETF, I am excited to be part of this next chapter of bringing lower cost, more tax efficient investments to investors. Exchange-Traded Managed Funds (ETMFs) or NextShares paved the way in the industry in educating market participants and offering active non-transparent exchange-traded products in the marketplace. I was part of the core team that brought this innovation to market.

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Speaking on latest podcast on Semi-Transparent Active ETF.com ETF Working Lunch

We explore the new semitransparent and nontransparent ETF frontier with Cleo Chang, head of Investment Solutions at American Century Investments, and Women in ETFs' board member Kristine Delano. From lessons learned from NextShares, to innovation ActiveShares and other wrapper offers, we shine a light on this opaque structure.

https://www.etf.com/sections/podcasts/etf-working-lunch-all-about-semitransparent-etfs

Highlights of Latest Experience

Current - Board Member of Women in ETFs www.womeninetfs.com. Women in ETFs is the first women’s group for the ETF industry. Founded in January 2014, WE is an organization that brings together over 5,600 members, including women and men, in chapters in major financial centers across the United States, Canada, EMEA and Asia Pacific to Connect, Support, and Inspire.

Previous - Managing Director at Eaton Vance. Managing Director or Marketplace Strategy for NextShares Solutions www.nextshares.com. Managed marketplace ecosystem for Exchange-Traded Managed Funds, the first non-transparent active exchange-traded product.

20 Previous Years of Broker-Dealer Experience from SVP of Technology Strategy to Head of Client Technology to Senior Advisor of Strategic Planning

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