TDX Independence Files For New Family Of ETFs “X Funds”

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April 21, 2009 2:32pm ETF BASIC NEWS

etf-news7The asset management arm of TD Ameritrade has been quite active recently. And it appears to be ramping up for a bigger presence in the exchange-traded funds market.

In a filing dated April 20, the company has amended past requests for new ETFs through its TDX Independence Funds group. Among the main changes is the creation of a new family of ETFs to be marketed and operated as the X Funds family.

Earlier this month, TDX Independence Funds asked the Securities and Exchange Commission to make Amerivest Investment Management the investment adviser to its series of five target-date ETFs. The filing also made it clear that struggling XShares Advisors could be removed from the family in the future. (See story here.)

A spokeswoman for TD Ameritrade declined to comment on Tuesday about action regarding any pending filings.

The most recent document explains that X Funds is an open-end management investment company organized as a Maryland corporation. X Funds filed with the SEC a registration statement last October. But it hasn’t been approved yet.

“X Funds … will offer a number of different series of funds with distinct investment strategies in an exchange-traded fund format,” said the filing.

It added that X Funds currently has two portfolios. Presumably, those two portfolios would be the first X Funds out of the gates. Those are:

  • The Nations Large Cap Enhanced Covered Call ETF. It’s expected to be subadvised by Esposito Partners LLC, according to the filing.
  • The CRB-Research Global Energy Efficiency ETF.

Full Story: http://www.indexuniverse.com/sections/newsinfocus/5738-td-ameritrade-group-files-for-new-etf-family.html



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