The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Grail Seeks Brand Partners; Ties Deal with Gundlach Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, June 24, 2010

Grail Seeks Brand Partners; Ties Deal with Gundlach

Reported by Sean Hanna, Editor in Chief

Jeff Gundlach's appearance before 1,300 Morningstar Conference attendees was not his only move yesterday; DoubleLine Capital, his Los Angeles-based mutual fund firm, also took the wraps off a partnership with Grail Advisors. The two firms are planning a fixed income ETF, reports Dow Jones newswire. Oh yes, the new ETF will be actively managed by Gundlach's team at DoubleLine (though not Gundlach himself -- it will be managed by a team headed by Luz Pudilla).

DoubleLine will be the advisor to the Grail DoubleLine Emerging Markets Fixed Income ETF. The ETF is the first for DoubleLine, though Grail is an old-hand with the products. What Grail has lacked so far is effective distribution for its existing products as the relative newcomer battles heavyweights such as iShares, SSgA, Vanguard and others. Meanwhile, DoubleLine has been the fastest growing fund firm in recent memory, going from zero to more than one billion in its flagship mutual fund (DoubleLine Total Return) in less than a year, Gundfest told Morningstar Conference attendees yesterday.

Grail CEO William Thomas certainly sees the benefits of pairing with DoubleLine. Indeed, he expects the new ETF to be just the first step in what he describes as a "long-standing relationship we are looking to develop." As he told Dow Jones reporter Daisy Maxey:

"You're seeing significant flows going into emerging-markets fixed-income strategies, and DoubleLine, from our research, was just a wonderful partner with a great track record and a seasoned, professional management team."

The deal follows an earlier partnership between Grail and Western Asset Management. Partnering with "bigger brands" turns out to be Thomas' strategy for building Grail in this highly competitive space.

"What we're seeing is that the bigger brands continue to want to get into this ETF space, [which is] certainly validated by Western Asset Management making the move," he told Maxey. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use