Grail Partners With DoubleLine: A Match Made in ETF Heaven?
Tuesday, June 29th, 2010Michael Johnston submits:
Grail Advisors, the San Francisco-based firm that burst onto the scene last year with the launch of the first true actively-managed equity ETF, just scored a major victory. The company announced this week that it has formed a strategic partnership with DoubleLine Capital LP, the firm founded last year by legendary investor Jeffrey Gundlach and his long-time colleague Philip Barach. Grail has filed registration for the Grail DoubleLine Emerging Markets Fixed Income ETF, a fund that will employ DoubleLine’s management capabilities in the emerging markets sector. “This new relationship represents great potential for the Grail Advisors actively-managed ETF lineup and for the ETF marketplace in general,” said William M. Thomas, CEO of Grail Advisors LLC. “The partnership will give us access to the skill and experience of the DoubleLine team in an important asset class.”
Match Made In ETF Heaven?
The Grail/DoubleLine marriage could give the active ETF industry a much-needed shot in the arm, introducing the first superstar manager to a space that has so far been slow to gain traction. Although many of the asset managers behind existing active ETFs have impressive track records, Gundlach is in a class by himself, with an investing history perhaps rivaled only by PIMCO boss Bill Gross [see Three Potential Active ETF Gamechangers].
