BOSTON – April 15, 2011 – Columbia Management Investment Advisers, LLC, today announced an agreement to acquire Grail Advisors, LLC, a registered investment adviser that offers actively managed exchange-traded funds (ETFs). The deal will provide Columbia Management with active ETF capabilities, adding to its broad product line-up. Active ETFs combine the potential benefits of traditional ETF investing with active portfolio management.
The transaction is expected to close in May. Terms are not disclosed.
“This jump starts our entrance into active ETFs,” said Colin Moore, chief investment officer of Columbia Management. “It will enhance our already deep product line-up and allow us to reach even more investors with our broad investment management capabilities. We intend to utilize this acquisition to build an extensive offering of actively managed ETFs over time.”
“As a leading asset manager, we work with a broad array of valued distribution partners, and we look forward to working with these firms to grow the actively managed ETF market, which can benefit them and their clients,” said Mike Jones, president of Columbia Management. “We offer a wide range of product solutions that is strengthened by the addition of active ETFs.”
About Columbia Management:
Columbia Management is the seventh largest investment manager of long-term assets in the U.S., with $355 billion in assets under management as of December 31, 2010. For more information, please visit columbiamanagement.com
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Investment products are not federally or FDIC-insured, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.
© 2011 Columbia Management Investment Advisers, LLC. All rights reserved.