Grail Adds Fixed Income to Actively Managed ETFs

Grail Advisors has registered two new actively managed fixed-income exchange-traded funds (ETFs): Grail McDonnell Intermediate Municipal Bond ETF and Grail McDonnell Core Taxable Bond ETF.

McDonnell Investment Management, LLC (McDonnell), a Chicago-based fixed-income specialist, will serve as the sub-adviser to both of the funds, Grail announced.

Grail Advisors rolled out an actively-managed equity ETF in May, designed to incorporate a traditional investment management approach and a multi-manager format into an active ETF structure (see “Grail Advisors To Launch Two Actively Managed ETFs”), the fund manager said.

Grail said the new offerings will “combine all the benefits of an ETF structure—lower costs, tax efficiency, transparency of holdings, and intra-day trading—with actively-managed strategies from a veteran fixed-income management team.”