At a special shareholder meeting on Friday, after shareholders had voted to approve a change in investment managers for all the ETFs formerly managed by Grail Advisors, ColumbiaManagement Investment Advisors, closed its acquisition of Grail effective at the close of business that day.
Columbia, a wholly owned subsidiary of Ameriprise Financial Inc., was approved as the new investment manager for all Grail’s ETFs and in addition took over management of the Grail Advisors ETF Trust. Nine new trustees were elected to replace the previous board of trustees, and the names of the ETFs were changed to reflect the new agreements.
New trustees elected were Kathleen Blatz, Pamela G. Carlton, Patricia M. Flynn, Stephen R. Lewis, Jr., John F. Maher, Catherine James Paglia, Leroy C. Richie, Alison Taunton-Rigby and William F. Truscott.