Columbia to dump Grail’s subadvisers after acquisition
Purchase of ETF firm vaults Ameriprise unit into 'big player' in actively managed fund space.
Columbia Management Investment Advisers, LLC, a subsidiary of Ameriprise Financial Inc, has agreed to purchase Grail Advisors LLC, a move that could transform the firm into a major player in the active exchange-traded fund industry, experts said.
As first reported on InvestmentNews.com yesterday, A
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