The Tokyo Stock Exchange has issued a request for public comments regarding the development of listing rules for actively managed exchange-traded funds, according to the website of Japan Exchange Group, which owns the TSE.
Until now, the TSE has required all ETFs to "have their base prices track specific eligible indicators as one of the listing requirements, in order to properly ensure their quality as listed products," a document regarding development of the listing rules said.
"However, as TSE, like major exchanges in other countries, began laying the groundwork to diversify ETFs and improve their liquidity, it also began hearing from market participants who pointed out that some actively managed investment trusts could be offered to investors as ETFs," the document said.
The announcement was dated March 29, according to the website, which listed an April 28 closing date for comments.
Active ETFs listed globally attracted $14.3 billion of net inflows in February, according to a March 23 news release from ETFGI, a research and consultancy firm that covers trends in ETFs.
"Active ETFs are seen as part of the evolution of the ETF industry and as one of the important drivers of future growth for the ETFs industry," said Deborah Fuhr, managing partner, founder and owner of ETFGI, in an email received Thursday.
