Pimco, T. Rowe Bet on SEC Prioritizing Tax-Savvy Funds (1)

Optimism is building that a game-changing fund design that will help asset managers shrink clients’ tax bills and grow their ETF businesses will soon be approved by the US securities regulator.

This week, at least seven firms including JPMorgan and Pacific Investment Management Co. filed amendments to their applications to create funds that have both ETF and mutual fund share classes. The filings update initial applications — some of which sat idle for months — with more details about the fund structure, and suggest the US Securities and Exchange Commission has engaged in constructive discussions with a growing number of ...