PowerShares Capital Management LLC announced today that it is the first exchange-traded fund provider to receive exemptive relief from the U.S. Securities and Exchange Commission for actively managed ETFs.

PowerShares’ four active ETFs will provide investors with access to active management in an ETF structure. Two of the funds will be sub-advised by Invesco Institutional (N.A.), Inc. and two will be sub-advised by AER Advisors, Inc.

The anticipated fund names are: PowerShares Active AlphaQ Fund; PowerShares Active Alpha Multi-Cap Fund; PowerShares Active Mega-Cap Fund; PowerShares Active Low Duration Fund.

“PowerShares is proud to be the first ETF provider to be granted SEC exemptive relief to offer actively managed equity and fixed-income ETF portfolios,” said Bruce Bond, president and CEO of PowerShares, in a release.

“This is an important milestone for the ETF industry and underscores PowerShares’ commitment to innovation and ability to leverage Invesco’s broad investment management capabilities to provide investors with new and innovative products,” Bond added.

Chicago-based PowerShares Capital Management manages a family of more than 100 U.S. domestic and international exchange-traded funds.