Actively Managed Muni Bond ETFs Emerge Amid Industry Conversions

AllianceBernstein and Franklin Templeton have launched actively managed municipal bond ETFs, converting their mutual funds into ETF wrappers as the industry accelerates muni mutual fund conversions. AllianceBernstein launched two ETFs targeting different segments of the fixed income market, while Franklin Templeton converted 10 Putnam muni bond mutual funds into ETFs. The conversions provide the same muni bond strategies with the structural features of an ETF.