Ameriprise Eyes ETF Manager Grail

Ameriprise Financial is seeking to acquire active exchange-traded fund manager, Grail Advisors.

Ameriprise Financial is seeking to acquire active exchange-traded fund (ETF) manager, Grail Advisors, Pensions & Investment reports. The financial terms of the transaction have not been disclosed. San Francisco-based Grail Advisors currently has five funds with a total of over $20 million in assets under management. Grail will join Columbia Management, the mutual fund family Ameriprise acquired from Bank of America, as part of its proprietary lineup of products, adds Index Universe.

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