RiverPark Advisors, in an updated exemptive relief filing with
the U.S. Securities and Exchange Commission, laid out plans to
offer three specific actively managed ETFs-one of which, a
short-term, high-yield debt portfolio, it had previously described
The funds outlined in the July 28 filing included the RiverPark
Short Term High Yield ETF, the RiverPark Small Cap Growth ETF and
the RiverPark/Gravity Long-Biased Fund. It didn't include trading
symbols or possible expense ratios for the proposed funds.
RiverPark, which made its original filing outlining plans to
offer its own funds in February, has said the move was in response
to forecasts for significant growth in actively managed ETFs. The
company is already involved in the ETF industry as a subadviser to
four active ETFs from San Francisco-based Grail Advisors.
Those Grail funds are:The RP Growth ETF (NYSEArca:RPX), the RP
Focused Large Cap Growth ETF (NYSEArca:RWG), the RP Technology ETF
(NYSEArca:RPQ) and the RP Financials ETF (NYSEArca:RFF).
Exemptive relief filings grant the ETF firms exception to
sections of the Investment Act of 1940 and are just the first step
in the path to launching ETFs. It often takes at least six to 12
months from the date of the initial filing for a company's first
ETF to hit the market.
Don't forget to check IndexUniverse.com's ETF Data
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