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Portfolio > Economy & Markets > Fixed Income

Grail Advisors Files for DoubleLine-Managed Emerging Markets ETF

By James J. Green

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Grail Advisors said on June 24 that it has filed a registration statement with the SEC to offer the Grail DoubleLine Emerging Markets Fixed Income ETF as part of a strategic partnership it announced at the same time with Los Angeles-based DoubleLine Capital, the firm founded just last year by Jeffrey Gundlach and Philip Barach.

Under the agreement, DoubleLine’s emerging markets fixed income team, headed by Luz Padilla, is expected to manage the emerging markets ETF for Grail, which is based in San Francisco.

In an interview during the Morningstar Investment Conference in Chicago on June 24, Grail Advisors CEO Bill Thomas said his firm had been “searching for an emerging markets fixed income manager, and DoubleLine fit the bill; it’s wonderful for us.”

Grail is a leader in introducing active management in the ETF space, and Thomas said that there is increasingly more choice among active ETFs. “More managers are filing in the active ETF space, which is confirming for us, since we plowed the road, but it’s also good for the end client and advisors,” he said.

It took 16 years for passive ETFs to account for more investing dollars than passive mutual funds, he said, and while Thomas admits “it’s still early in the game,” he nevertheless expects the same development to occur with active ETFs becoming more popular than actively managed mutual funds, but in a third of the time.

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