The deal will provide Columbia Management with active ETF capabilities, adding to its broad product line-up.
Active ETFs combine the potential benefits of traditional ETF investing with active portfolio management.
Columbia Management chief investment officer Colin Moore said this jump starts Columbia Management’s entrance into active ETFs.
"It will enhance our already deep product line-up and allow us to reach even more investors with our broad investment management capabilities. We intend to utilize this acquisition to build an extensive offering of actively managed ETFs over time," Moore said.
Columbia Management president Mike Jones said as a leading asset manager, Columbia Management work with a broad array of valued distribution partners, and Columbia Management looks forward to working with these firms to grow the actively managed ETF market, which can benefit them and their clients.
The transaction is expected to close in May. Terms are not disclosed.
