The 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