Grail swoops into US ETF market with actively-managed ETF

Grail Advisers has listed its first exchange-traded fund (ETF) on the Arca platform of the New York Stock Exchange (NYSE). The Grail American Beacon Large Cap Value ETF is an actively-managed fund which uses multi-managers to achieve its return, like a traditional mutual fund.

The fund will usually invest around 80% of its assets in large-cap US equities, similar to those that constitute the Russell 1000 Index. Holdings will include preferred stock, common stock, American depositary receipts and US dollar-denominated foreign equities traded on US exchanges. Its investment objective will be to provide long-term capital appreciation and income.

Assets are allocated among three investment sub-advisers: Brandywine Global Investment Management, Hotchkis and Wiley Capital