The actively managed category of exchange traded funds (ETFs) is continuing to grow, now that four new ETFs from Grail Advisors have begun trading this morning.

Grail Advisors is giving traditional mutual funds a run for their money, with the launch of  a new line of actively managed ETFs. New York-based RiverPark Advisors, assisted by Wedgewood Partners, will do the day-to-day stock selection. RiverPark’s involvement is notable because the firm’s principals are veterans of the traditional mutual-fund industry, hailing from Baron Funds, explains Eleanore Laise for The Wall Street Journal.

The new ETFs are:

• RP Growth (NYSEArca: RPX)
  
• RP Focused Large Cap Growth (NYSEArca: RWG)
• RP Technology (NYSEArca: RPQ)
• RP Financials (NYSEArca: RFF)

A actively managed ETF can offer many benefits to investors such as tax efficiency, lower costs, and full disclosure of what the fund owns, at any time of day. Garnering assets for the actively managed ETFs has proved to  be tough, however, as the market conditions and lack of investor education may be contributing, reports Joe Morris of Ignites. Nonetheless, Grail is planning to roll out 24-30 actively managed ETFs over the next year or so.

For more stories about New ETFs, visit our new ETF category.

Tags: Actively Managed ETFs, Asset Class ETFs, Financial, Large-Cap, New ETFs, RFF, RPQ, RPX, RWG, Sector ETFs, Technology