Grail Advisors will serve as the lead manager of the four funds: RP Growth ETF (RPX), RP Focused Large Cap Growth ETF (RWG), RP Technology ETF (RPQ), and RP Financials ETF (RFF), according to a statement released today.
RiverPark Advisors LLC will serve as the primary subadviser for each the funds, while Wedgewood Partners Inc. will serve as a co-subadviser to the RP Focused Large Cap Growth ETF.
Total operating expenses for each of the funds will be limited to 0.89% of average daily net assets annually, Grail said in the statement.
The firm is also discussing plans with several financial institutions and asset managers to launch customized, actively managed ETFs, including fixed-income funds, William Thomas, chief executive of Grail Advisors, said in the statement.
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