In a Securities and Exchange Commission filing, Grail Advisors, a provider of actively managed exchange-traded funds that was started in January 2009, has indicated that it may be in the process of being acquired.
Should a deal fail, Grail said in the Jan. 5 filing, it may liquidate its actively managed ETFs.
It said it has "entered into a letter of intent concerning a transaction involving its ownership interests in order to enable it to continue its operations."
Grail is offering fee waivers and expense reimbursements on three of its remaining ETFs in an effort to attract initial investors.
In August, it shut down two ETFs due to weak sales. Its five remaining funds have not fared much better; they have combined assets under management of $20 million.
The portfolio with the most assets, the Grail RP Focused Large Cap Growth Fund, manages $5 million.
