Grail Advisors LLC, a San Francisco investment manager, launched two actively managed exchange-traded funds.

The Grail American Beacon Large Cap Value ETF and the Grail American Beacon International Equity ETF, which were introduced last week, are subadvised by American Beacon Advisors Inc., a Fort Worth investment manger that had $37 billion of equity and fixed-income assets under management as of Sept. 30.

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