New Grail, Western Enhanced Cash ETF
A press release entitled, "Grail Advisors add Western Asset Management to Growing List of Strategic Partners," says, "Grail Advisors, an innovator in the development and distribution of actively-managed exchange traded funds (ETFs), today announced the firm has formed a strategic partnership with Western Asset Management Company. Grail Advisors has filed registration for an actively-managed ETF -- the Grail Western Asset Enhanced Liquidity ETF -- that will employ Western Asset's management capabilities in the short-term fixed income space. With more than $478 billion in assets under management as of March 31, 2010, Western Asset is recognized as one of the industry's largest fixed income managers. The Pasadena, California-based firm is affiliated with Legg Mason Global Asset Management." William Thomas, CEO of Grail Advisors LLC, says, "This partnership with Western Asset Management Company represents an important addition for us as we work to bring active fund managers and strategies to the ETF marketplace. Having a manager of their caliber on board adds meaningful potential to our entire actively managed ETF lineup." In other news, the replay of Monday's "Open Meeting of the SEC Investor Advisory Committee" has now been posted on the SEC's site (click on "Afternoon" to see the money fund portion).
