First Trust Advisors, an ETF provider and asset manager, is set to launch the First Trust Managed Municipal ETF, a new actively managed fund, which is expected to begin trading on NASDAQ, on 15 May 2014.
While the fund primary seeks to provide federally tax-exempt income to its investors, its secondary objective is long-term capital appreciation, which the fund plans to achieve by investing at least 80% of its net assets, including investment borrowings, in municipal debt securities.
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Johnathan N. Wilhelm, senior vice president and Tom Futrell, CFA, senior vice president at First Trust, will be the senior portfolio managers of the fund.
The fund will be maintained using a disciplined approach, focusing on both quantitative analysis and fundamental research.
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