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Rating:Grail Files to Launch Two A Pair of Active Bond ETFs Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, October 5, 2009

Grail Files to Launch Two A Pair of Active Bond ETFs

Reported by Armie Margaret Lee

Grail Advisors on Monday filed papers with the SEC to launch two actively managed bond ETFs that will be sub-advised by McDonnell Investment Management. San Francisco-based Grail, a subsidiary of investment bank Grail Partners, plans to file for another active bond ETF within the next two weeks, this time sub-advised by a different firm, said CEO Bill Thomas in an interview with The MFWire.

Invesco PowerShares was the first to launch an actively managed bond ETF, the PowerShares Active Low Duration Fund, in April of last year. Bond giant Pimco, for its part, filed with the SEC in July to launch active bond ETFs.

Grail is targeting to launch the two McDonnell-subadvised ETFs -- the Grail McDonnell Intermediate Municipal Bond ETF and the Grail McDonnell Core Taxable Bond ETF -- and the other bond ETF in December, Thomas said.

Thomas said Grail looked at several firms before deciding to go with Oak Brook, Illinois-based McDonnell for the two ETFs.

"We were introduced to them this summer and we're very impressed with the capabilities they brought to the table," Thomas said, citing McDonnell's "stellar reputation, performance and strong risk management capabilities."

Grail is currently in the process of determining the expense ratios for those two funds.

Currently, Grail has five active equity ETFs on the market. Those products hold a total of $14 million, according to Thomas.

Grail hopes to close out 2009 with nine ETFs on the market. The firm is targeting to launch the Grail American Beacon International Equity ETF on December 1.

"Next year, we're looking to add another 15 or so," Thomas said. 

Correction: An earlier version of this story incorrectly stated that there are no active bond ETFs in the market.

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