Grail swoops into US ETF market with actively-managed ETF

The fund will usually invest around 80% of its assets in large-cap US equities, similar to those that constitute the Russell 1000 Index. Holdings will include preferred stock, common stock, American depositary receipts and US dollar-denominated foreign equities traded on US exchanges. Its investment objective will be to provide long-term capital appreciation and income.Assets are allocated among three investment sub-advisers: Brandywine Global Investment Management, Hotchkis and Wiley Capita