AdvisorShares, a US sponsor of actively managed ETFs, has announced that the AdvisorShares Global Echo ETF (GIVE) will commence trading on 24 May, 2012.
The AdvisorShares Global Echo ETF (GIVE) donates a portion of its management fee to Philippe Cousteau Jr's Global Echo Foundation.
GIVE is a broadly diversified multi-manager ETF, focused on sustainable investment themes, that seeks to achieve long-term capital appreciation with an emphasis on absolute returns and low sensitivity to a blend of traditional financial market indices such as the S&P 500 Index, over a full market cycle.
The fund is novel in that it directly supports the Global Echo Foundation, a charitable foundation co-founded by Philippe Cousteau Jr. AdvisorShares has confirmed that 0.40% of the fund’s management fee will be contributed to the Global Echo Foundation.
Philippe Cousteau Jr, Co-founder and Chairman of the Global Echo Foundation, said: “I am thrilled about the partnership with AdvisorShares. Through my extensive travels and work around the globe, I have witnessed first-hand many of the challenges the world faces today. By launching GIVE, we are creating an innovative and transparent investment model that will help drive resources to address many of these global challenges. GIVE’s combination of strategic investment and sustainable philanthropy will not only create a positive impact for investors but help foster a legacy beyond monetary value.”
Noah Hamman, CEO of AdvisorShares, said: “We feel we’re entering an exciting new chapter by not only adding another attractive and broadly diversified product to our existing suite of actively-managed ETFs, but providing a truly one-of-a-kind sustainability focused investment strategy with an innovative approach to combat some of our planet’s biggest challenges. We believe our partnership with Philippe Cousteau Jr and the Global Echo Foundation will allow investors to realise positive returns on their investment capital while still making a charitable impact for the betterment of the earth.”
The fund has a net expense ratio of 1.70%.
GIVE has four portfolio managers allocating to different investment strategies and asset classes:
Fixed Income Strategies
Community Capital Management will employ an investment strategy focus on a thematic Sustainable Core Fixed Income (US focus)
Equity Strategies
Baldwin Brothers will employ an investment strategy focus on Core Equity Strategies (Global) and Long only, with a thematic approach to investing in Sustainable Investment themes
Reynders, McVeigh Capital Management will employ an investment strategy focus on Core Equity Strategies (Global with a US focus) and Long only, Sustainability, Concentrated Growth
Alternative Strategies
First Affirmative Financial Network acts as the funds allocation manager and will employ an investment strategy focus on Alternative Long/Short trend following