Main Management said that the exchange-traded fund (ETF) is firm's first ETF brought to market using a Section 351 exchange structure.

San Francisco-based asset manager Main Management has launched the Main Active Rotation ETF (SECA), scheduled to begin trading on the Cboe BZX Exchange on 18 September. T he Section 351 exchange framework enables investors to contribute appreciated securities to the fund on a tax-deferred basis The fund will be its fifth ETF and the first it has brought to market through a Section 351 exchange structure. The Section 351 exchange framework enables investors to contribute appreciated securitie