Two groups watched carefully by advisors and investors alike had different developments in their fund introduction plans.
The Securities and Exchange Commission gave a preliminary thumbs-up to a bond ETF run by Janus Capital Group (JCG) on Wednesday. Meanwhile, on Tuesday, Edward Jones filed a one-month extension to its application to register a group of new Bridge Builder mutual funds.
Janus hired fixed income expert Bill Gross to come on board as a portfolio manager after he left the bond ship he started, PIMCO, in the fall. Around the same time, the Denver-based firm said it was buying VelocityShares, an ETF provider.
Janus’ first ETF is focused on both domestic and foreign fixed income securities of varied durations. Investors and others who wish to submit comments to the SEC about the new product can do so through March 27.
(Earlier this week on Bloomberg TV, Gross said the Federal Reserve should raise interest rates by 25 basis points in June.)