* 13 new active ETFs would be run by new division
* Funds would disclose holdings quarterly
(Corrects third paragraph to eliminate reference to
competition with iShares)
BOSTON, Sept 2 Money management giant BlackRock
Inc (BLK.N) asked regulators for permission to set up a new
unit offering actively managed exchange-traded funds that would
not disclose their holdings on a daily basis.
In a filing with the U.S. Securities and Exchange
Commission late on Thursday, BlackRock said the new unit,
Spruce ETF Trust, would manage 13 equity funds and reveal their
holdings only on a quarterly basis, like ordinary mutual
New York-based BlackRock's iShares division is the world's
largest ETF manager with $632 billion of assets.
The iShares unit received permission from the SEC in March
to open actively managed ETFs that would disclose their
holdings every day, just like more common index-based ETFs.
(Reporting by Aaron Pressman; editing by John Wallace)