In an SEC filing, Grail Advisors, a provider of actively managed exchange-traded funds launched in January 2009, indicates it may be in the process of being acquired. Should that fail, it may liquidate its actively managed ETFs.
Grail says it has “entered into a letter of intent concerning a transaction involving its ownership interests in order to enable it to continue its operations.” Grail is providing fee waivers and expense reimbursements on three of its remaining ETFs, in an effort to attract initial investors.
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