T. Rowe Expands ETF Business With Actively Managed Bond Funds
(Bloomberg) -- T. Rowe Price Group Inc., the $1.68 trillion money manager that started its first exchange traded fund last year, added three actively managed bond funds to its lineup.
The offerings expand the firm’s ETF roster to eight funds, Baltimore-based T. Rowe said in a statement issued Wednesday.
The move is part of a surge of interest in actively managed ETFs over the past year as money managers seek to attract investors to new products that look to beat benchmarks instead of tracking indexes. Inflows into active ETFs are on pace to surpass last year’s record.
“Investors now have access to a wider selection of T. Rowe Price investment strategies in whichever product format best fits their needs,” Tim Coyne, T. Rowe’s head of ETFs, said in the statement.
The new funds are:
- T. Rowe Price QM U.S. Bond ETF (Ticker: TAGG)
- T. Rowe Price Total Return ETF (TOTR)
- T. Rowe Price Ultra Short-Term Bond ETF (TBUX)
T. Rowe manages about $415 million in ETF assets, according to a spokesman, putting the firm behind the top ranks of issuers led by BlackRock Inc., which managed about $3 trillion in such assets at the end of the second quarter.
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