Columbia Management, the fund manager that took over five actively managed exchange-traded funds from the now-defunct Grail Advisors, filed regulatory paperwork to put 15 more active funds into registration, including one focused on emerging markets stocks.
The company is casting a wide net with the 15 proposed funds, targeting both the fixed-income and equities spaces in both the U.S. and internationally. The company is even planning on a family of target-date maturity municipal bond ETFs and an emerging markets ETF as well, including one ETF targeting European securities.
Overall, the proposed funds detailed in two separate filings amount to a rounding out of the firm’s ETF offerings, which currently consist of three equities funds and two bond funds—one focused on munis. The firm had $25 million in assets under management at the end of July, according to data compiled by IndexUniverse.
The company outlined its plans in two separate regulatory filings, one of which detailed the five target-date maturity muni bond ETFs as well the emerging markets fund. All the funds in that particular filing are as follows:
- Columbia AMT-Free Muni Target 2015 ETF
- Columbia AMT-Free Muni Target 2016 ETF
- Columbia AMT-Free Muni Target 2017 ETF
- Columbia AMT-Free Muni Target 2018 ETF
- Columbia AMT-Free Muni Target 2019 ETF
- Columbia Emerging Markets Equity ETF
- Columbia Dividend Income ETF
- Columbia Tax-Exempt ETF
- Columbia Pacific/Asia Equity ETF
- Columbia Small/Mid Cap Growth ETF
The other filing described the following five funds:
- Columbia European Equity ETF
- Columbia Limited Duration Credit ETF
- Columbia Short Term Bond ETF
- Columbia Small/Mid Cap Value ETF
- Columbia U.S. Government Mortgage ETF
The latest paperwork filed with the Securities and Exchange Commission didn’t include tickers or proposed expense ratios, but it did leave open the possibility of charging marketing-related 12 b-1 fees of up to 0.25 percent a year.
Columbia’s current five-fund lineup, as well as assets and expense ratios of each fund, are as follows:
- Columbia Concentrated Large Cap Value Strategy Fund (GVT), $3 million in assets, and a net annual expense ratio of 0.83 percent
- Columbia Growth Equity Strategy Fund (RPX), $1.53 million in assets and a net annual expense ratio of 0.90 percent
- Columbia Large-Cap Growth Equity Strategy Fund (RWG), $7.45 million in assets and a net annual expense ratio of 0.89 percent.
- Columbia Intermediate Municipal Bond Strategy Fund (GMMB), $8.14 million in assets and a net annual expense ratio of 0.49 percent.
- Columbia Core Bond Strategy Fund (GMTB), $5.28 million in assets and a net annual expense ratio of 0.48 percent.
Columbia acquired Grail Advisors and took over the five funds in April 2011, and the five funds had $23 million in assets at the time. Terms of the transaction weren’t disclosed.
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