![]() This intraday tradability will allow the funds to maintain significant cost and tax advantages. The fund will still enjoy intraday trading however, with all trades being finalised at day’s end with prices reflecting the fund’s Net Asset Value plus or minus a trading cost (premium/discount) that was established at the time the trade was executed. Similar to mutual funds, the new vehicle will protect and harness the manager’s proprietary research in a bid to obtain benchmark-beating returns. Extensive preparations have been made to develop technology to support NextShares trading and reporting, and the final stages of testing are currently in process.” Jeff McCarthy, Head of Exchange-Traded Product Listing at Nasdaq, added: “We’re pleased to serve as the listing and trading venue for NextShares. The Fund’s introduction provides the first opportunity to demonstrate the performance, tax efficiency and trading characteristics of NextShares.” “Our initial NextShares will offer investors access to established fund strategies in a new structure with significant potential investor benefits. Faust Jr., Chairman and Chief Executive Officer of Eaton Vance. “The Fund is the first of several NextShares funds that we expect to introduce this year,” said Thomas E. Eaton Vance Corp is pioneering a new type of exchange-traded vehicle that protects the fund manager’s strategies from being exposed in real-time yet maintains the benefits of intraday tradability common to ETFs. ![]()
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