On February 29, 2016, a new type of fund was born: Eaton Vance listed the very first Exchange-traded Managed Fund on the Nasdaq Stock Market. Eaton Vance Chairman and CEO, Thomas Faust rang the opening bell at Nasdaq MarketSite to celebrate the listing and the milestone reached with the initial NextShares listing.
"This is the first of several NextShares funds that we expect to launch this year,” said Faust. “NextShares will offer investors access to established fund strategies in a new structure with significant potential investor benefits."
NextShares may invest across all fund asset classes including equities, income and alternative investments. Because they are actively managed, NextShares offer the potential for benchmark-beating returns by applying their manager’s proprietary investment research. Because they trade on an exchange, NextShares offer cost and tax efficiencies that can enhance shareholder returns.
The introduction of the first NextShares fund provides an opportunity to demonstrate the performance, tax efficiency and trading characteristics of NextShares, said Faust. Get more information on NextShares.