BusinessWorld reports ‘SEC completes draft measure for exchange-traded funds‘. SEC is then moving to solicit public comments before finalizing the measure.
I have always welcomed the idea of ETF’s (Exchange Traded Funds) in the local bourse. Think about it, no more minimum holding periods nor sales load to worry about when buying and selling ETF stocks in the local stock exchange, except of course for the usual minimal fees and taxes.
In my opinion, this is a more liquid type of investment than regular mutual funds or UITF’s in a sense that you can sell your shares anytime without worrying about minimum holding periods and their corresponding charges. Besides, this is still a managed fund, thus you need not devote any more time in research for stocks to pick.
You might also want to read the 5 Things You Need to Know About Exchange Traded Funds.