Reported about 6 hours ago
State Street Corp. and Apollo Global Management Inc. will rename their private credit ETF following concerns raised by the SEC regarding its name and liquidity issues. The ETF, which recently launched under the ticker 'PRIV', will modify its name to address claims that its current title is misleading, as Apollo is not obligated to sell debt to the fund. The changes are pending board approval, and the fund aims to ensure compliance with SEC regulations regarding illiquid investments.
Source: YAHOO