As competition among ETF providers increases, BlackRock renewed efforts to secure SEC approval for a product that is run by a portfolio manager and doesn't have to disclose its holdings daily, as is currently required by actively managed ETFs. The transparency of ETFs has long been used as a selling point, however analysts also point out that it reveals the portfolio managers' strategy to other funds. Rival Eaton Vance is planning to launch actively managed non-transparent funds in 2016 after obtaining becoming the first and only firm to gain SEC approval. BlackRock said it remains focused on products in its iShares ETF line that provide "daily transparency" and may not necessarily launch the new type of product even if the SEC approves its request.
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