Grail Advisors of San Francisco has launched four actively managed exchange-traded funds.
The company introduced Friday the RP Growth ETF, the RP Focused Large Cap Growth ETF, the RP Technology ETF and the RP Financials ETF. The funds will trade on the New York Stock Exchange.
These are among the first single-manager ETFs in the equity space using traditional active management. RiverPark Advisors LLC of New York will serve as the primary subadviser for each of the funds. Wedgewood Partners Inc. of St. Louis will serve as co-subadviser to the RP Focused Large Cap Growth ETF.
Grail Advisors introduced the industry's first actively managed equity ETF in May — the Grail American Beacon Large Cap Value ETF. Total operating expenses for each of the four funds will be limited to 0.89% of average daily net assets annually.
