Legg Mason has filed for an actively managed ETF sub-advised by one of its affiliates, ClearBridge Investments.
According to a report on ETF.com, the new ClearBridge All Cap Growth ETF seeks to target companies that are likely to see above-average long-term earnings and cash flow growth via a bottom-up investment process.
The ETF can invest in stocks across the market capitalization spectrum and, according to the prospectus, seeks to invest in inefficiently priced companies with strong fundamentals, incentive-driven management teams, dominant positions in niche markets and/or goods and services that are in high customer demand.
ETF.com wrote that the funds managers rely on fundamental research, much of it supplied by ClearBridges sector analysts. Because the fund seeks long-term growth, the prospectus notes that the portfolio will typically have low turnover, but market conditions could cause the funds managers to become more active in their investment approach.
The ETF will be listed on Nasdaq.
