Eaton Vance Acquires Active ETF Trading Shop

Eaton Vance

, the asset management firm and mutual fund issuer, said it will acquire Boston-based Managed ETFs LLC for an undisclosed price. Managed ETFs, founded by Gary Gastineau and Todd Broms, was one of the first firms to work on the concept of actively managed ETFs while still being able to comply with government requirements for transparency in end-of-day fund holdings. Gastineau has been working on a way in which active ETF managers can replicate a fund's holdings each day without giving competitors enough real-time data to front-run trades, Barron's reported. The active ETF space has also attracted interest from the likes of JPMorgan Chase

and Legg Mason

among others.