NextShares Seeks to Mix Best of Open-End Mutual Funds and ETFs

NextShares intends to combine the best features of actively managed open-end mutual funds and exchange traded funds, said Jonathan Isaac, Managing Director at Navigate Fund Solutions, a subsidiary of Eaton Vance. Isaac added that he hopes to launch NextShares in late 2015 or early 2016. He said NextShares will seek to capture the performance and tax efficiencies of ETFs while offering the portfolio trading confidentiality that ETFs lack. Finally, Isaac said NextShares is targeting long term investors as opposed to those seeking to trade in and out of the fund on a daily basis.