Bear launches actively managed ETF

AMEX has launched the Bear Stearns Current Yield Fund today, touting it as the the first actively-managed ETF to hit the market.
MAR 25, 2008
The American Stock Exchange launched the Bear Stearns Current Yield Fund today, touting it as the the first actively-managed ETF to hit the market. The fund, managed by Bear Stearns Asset Management, seeks as high a level of current income as is consistent with the preservation of capital and liquidity and invests primarily in short-term debt obligations, Amex officials said in a statement. The fund differs from an index fund since it is actively-managed by its portfolio manager who has the discretion to choose securities for the fund’s portfolio consistent with its investment objective, according to the statement. “We are excited to mark another important milestone in the development of the ETF industry,” said Scott Ebner, senior vice president of the New York-based Amex ETF Marketplace. “YYY provides investors with access to a transparent, professionally managed portfolio of short-term fixed income securities.”

Latest News

WallStreetBets takes on the SEC — and makes a surprisingly sharp case
WallStreetBets takes on the SEC — and makes a surprisingly sharp case

The Reddit trading community's formal comment letter against the proposal is drawing widespread attention across finance and tech circles.

Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale
Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale

RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.

Beyond wealth management: Why the future of advice is becoming more human
Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up
Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up

Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.

UBS loses $1.2 million arbitration claim linked to variable annuities and margin
UBS loses $1.2 million arbitration claim linked to variable annuities and margin

UBS has a history of costly litigation stemming from the sale of volatile investment products.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline