GRAIL ETF TRUST AND ITS ETFs HOLD SPECIAL MEETING OF SHAREHOLDERS; COLUMBIA MANAGEMENT INVESTMENT ADVISERS, LLC APPROVED AS ETFs' INVESTMENT MANAGER, AMONG OTHER APPROVED PROPOSALS
Boston, MA, May 20, 2011 - Today, at a special meeting of shareholders of RP Growth ETF, RP Focused Large Cap Growth ETF, Columbia Concentrated Large Cap Value Strategy Fund (formerly known as Grail American Beacon Large Cap Value ETF), Grail McDonnell Intermediate Municipal Bond ETF, and Grail McDonnell Core Taxable Bond ETF (each, an “ETF” and collectively the “ETFs”), each a series of Grail Advisors ETF Trust (the “Trust”), shareholders, voting separately (other than with respect to the election of Trustees where all shareholders voted together), approved the following proposals:
(1) a new Investment Management Services Agreement between each ETF and Columbia Management Investment Advisers, LLC (“Columbia”), a wholly owned subsidiary of Ameriprise
(2) the election of nine Trustees to the Board of Trustees of the Trust, which comprises the entire Board: Kathleen Blatz, Pamela G. Carlton, Patricia M. Flynn, Stephen R. Lewis, Jr., John F.
Maher, Catherine James Paglia, Leroy C. Richie, Alison Taunton-Rigby and William F. Truscott;
(3) a Rule 12b-1 Distribution and Service Plan for each of Grail McDonnell Intermediate Municipal Bond ETF and Grail McDonnell Core Taxable Bond ETF;
(4) Bond ETF, whereby the ETF and its investment adviser may enter into and materially amend subadvisory agreements in the future, with the approval of the Trust’s Board of Trustees, but
without obtaining additional shareholder approval; and
(5) a change to the fundamental investment limitation on concentration.
With the approval by shareholders of each ETF of the new Investment Management Services Agreement between such ETF and Columbia, Columbia announced the closing of its acquisition (the “Acquisition”) of Grail Advisors, LLC (“Grail”), the ETFs’ former investment manager, effective immediately following the close of business of the New York Stock Exchange on May 20, 2011 (the “Closing”). With the completion of the Acquisition, Columbia is the new investment manager of the ETFs, and Grail and each of the ETF’s sub-advisers will no longer provide portfolio management services to the ETFs, in each case, as of the Closing.In connection with the above, the Trust will now be known as the Columbia ETF Trust and the name of each ETF is changing as follows (ticker symbols are not changing):
|Old Name||New Name||Ticker|
|RP Growth ETF||Columbia Growth Equity Strategy Fund||RPX|
|RP Focused Large Cap Growth ETF||Columbia Large-Cap Growth Equity Strategy Fund||RWG|
|Grail McDonnell Intermediate Municipal Bond ETF||Columbia Intermediate Municipal Bond Strategy Fund||GMMB|
|Grail McDonnell Taxable Bond ETF||Columbia Core Bond Strategy Fund||GMTB|
|Columbia Concentrated Lare Cap Value Strategy ETF||Columbia Concentrated Lare Cap Value StrategyFund||GVT|