Grail registers actively managed fixed income ETFs

The Grail McDonnell Intermediate Municipal Bond ETF and the Grail McDonnell Core Taxable Bond ETF will enable the portfolio managers to have unrestricted trading, similar to typical actively managed bond funds. The ETFs will be managed by Grail Advisors and will be sub-advised by McDonnell Investment Management, which has more than $13bn in assets under management. Grail says the funds offer the benefits of an ETF structure in terms of lower costs, tax efficiency, transparency of holdings and intra-day trading, combined with actively managed strategies from a fixed income management t...