No longer content to be working in the shadows of XShares, Grail Partners wants to be known as an ETF provider, and a cutting-edge provider at that.
The Boston-based merchant bank announced Thursday that it registered two new ETFs under the umbrella of its Grail Advisors unit. Not just any ETFs, mind you, the most active, in the nascent ETF niche called actively-managed ETFs: The Grail American Beacon Large Cap Value ETF and the Grail American Beacon International Equity ETF. These funds are supposed to be the most “actively managed ETFs in the equity space.” Of course, they haven’t been launched yet. In fact, they haven’t even been given the once over by the SEC. Let’s see what happens when they finally come out of the sausage factory.
Currently, Invesco PowerShares is the only firm with actively managed ETFs: the PowerShares Active AlphaQ Fund (PQY), the PowerShares Active Alpha Multi-Cap Fund (PQZ), the PowerShares Active MegaCap Fund (PMA) and the PowerShares Active Low Duration Fund (PLK).