Eleanor Laise of the Wall Street Journal previews tomorrow's launch of four actively managed exchange-traded funds from Grail Advisors. The funds will be managed by RiverPark Advisors, using a traditional qualitative stock-picking strategy.

So far, actively managed ETFs have not been hugely successful in attracting assets—in part because many of the funds that launched have so far failed to beat their benchmarks. Despite the challenges, Grail hopes to launch 24 to 30 new active ETFs in the next year and is expected to continue its campaign to have actively managed mutual funds convert to an ETF structure.

You can read the full Wall Street Journal article here.