Putnam Says XShares to Launch Actively Managed ETFs
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Monday, October 22, 2007

Putnam Says XShares to Launch Actively Managed ETFs

XShares is planning on making a splash in the ETF market by launching the first actively managed ETFs. Yesterday at the Money Management Institutes's Managed Account Solutions Conference, Don Putnam, managing partner at Grail Partners, said the paperwork had already been filed with the SEC. (However, MFWire was unable to find said SEC filing.)

Grail invested $10 million this year in XShares. And William Henson, a partner at Grail, was installed as the CEO of XShares on October 1 of this year. Another installment of $10 million was given to the company by a consortium of European institutional investors in September of this year.

An industry insider told the MFWire that Henson's presence at XShares is to ensure that the company uses the second helping of $10 million received from a consortium of European investors in September of this year, more wisely than it used the first. Grail previously gave XShares a $10 million commitment in January of this year.

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