Two actively managed equity exchange-traded funds have been launched in the United States.

AER Advisors, Inc., sub-advisor on the funds, announced today that the two actively managed equity ETFs — PowerShares Active AlphaQ Fund and PowerShares Active Alpha Multi-Cap Fund — began trading on the NYSE Arca last Friday.

The two funds are based on a flexible universe of approximately 3,000 U.S. exchange listed stocks and seek to outperform traditional index benchmarks.

David O’Leary, AER Advisors chairman and chief investment officer, said, “We follow approximately 3,000 U.S. traded stocks representing essentially all companies with over US$400 million market capitalization. This allows us to find unique growth candidates, undervalued stocks relative to growth, and companies that are not widely covered and owned by the investment community.”

“I believe Invesco PowerShares has the ability to take the ETF revolution to an entirely new level through its utilization of actively managed equity ETFs,” added Carol O’Leary, CEO and president of AER Advisors.