Industry News
How asset managers are prepping for (likely) ETF share class approval
Eva Thomas / Mar 27, 2025
Citywire spoke to a number of asset managers who have applied for some version or form of the Vanguard-esque exemption at the ETF Exchange conference in Las Vegas.
One of the major discussion points at the ETF Exchange conference in Las Vegas this week was - predictably - whether the Securities and Exchange Commission (SEC) would approve exemptive relief applications that would allow firms to implement a multi share-class fund structure for mutual funds and ETFs.
So far, more than 50 firms have applied for the dual share-class structure, and for most asset managers who spoke with Citywire, it’s less a question of ‘if’ than it is ‘when’ the applications will be approved.
‘It’s still TBD if it’s going to be approved, but we have been working under the assumption that it will be approved,’ Tim Coyne, global head of ETFs at T. Rowe Price, told Citywire.
Like Coyne, many asset managers said they are operating under that assumption. However, questions still loom in terms of how to best prepare what they believe is the inevitable.
For Coyne and his team, he said they’ve been doing a lot of work internally to determine which products in their mutual fund suite...
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citywire ria
Apr 01, 2025
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