Actively managed exchange traded fund (ETF) provider Grail Advisors is teaming up with DoubleLine Capital for its next venture: an actively managed fixed-income fund.
DoubleLine was founded by former TCW Group Inc. bond-fund star Jeffrey Gundlach. The first ETF launched as part of the new partnership will be called the Grail Double Lines Emerging Markets Fixed Income ETF. The expense ratio will be 0.95% and no ticker symbol has been set yet. Grail and DoubleLine plan to launch more funds in the future. [Step Aside, Mutual Funds; ETFs Coming Through.]
Grail doesn’t intend to stop there, either. The provider has plans to launch more customized actively managed ETFs with other firms, as well, reports Daisy Maxey for The Wall Street Journal.
Grail first appeared on the scene in May 2009 and currently has seven active ETFs trading. [Why Brokerages Want in on ETFs.]
For more stories about mutual funds, visit our mutual fund category.
Tisha Guerrero contributed to this article.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.