First Trust Advisors has launched an actively managed ETF that seeks to provide long-term capital appreciation. The FT Raymond James Multicap Growth Equity ETF (NYSE Arca: RJMG) invests in U.S.-listed equities that exhibit growth characteristics. The fund targets equities of various market capitalizations that Raymond James Equity Research rates “Strong Buy” or “Outperform.”
As RJMG’s nondiscretionary subadvisor, Raymond James & Associates oversees a model portfolio of roughly 40 recommended investments and weightings. It provides this model portfolio to First Trust, the fund’s advisor. Members of First Trust’s investment committee serve as the ETF’s portfolio managers, and manage its day-to-day operations.
Uncovering Attractive Stocks With Solid Fundamentals
For years, passive, market-weighted indexes have provided relatively strong performance. But First Trust ETF Strategist Ryan Issakainen said in a news release that this could change going forward.
“Stock selection may play a more important role for investors in the years ahead,” he said.
“Raymond James has a robust, time-tested process for uncovering relatively attractive stocks with solid fundamentals,” Issakainen added. “We believe RJMG is an effective tool for investors to gain exposure to some of Raymond James’ highest conviction ideas.”
The fund carries an expense ratio of 0.85%.
A Quickly Expanding Lineup
The launch of RJMG adds to a quickly expanding lineup of ETFs from First Trust. In November, First Trust converted the First Trust Dynamic Europe Equity Income Fund (FDEU) into the First Trust Active Global Quality Income ETF (AGQI). Earlier that month, it listed the active fixed income fund, the First Trust Core Investment Grade ETF (FTCB).
The week prior, it launched the First Trust Emerging Markets Human Flourishing ETF (FTHF), which targets companies from emerging markets that place a premium on human dignity.
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