MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, May 18, 2012 AdvisorShares Thinks It's Time to GIVE AdvisorShares [profile] will launch an ETF next week that will be supporting sustainability in the global scenario, reports Thomas Kostigen for MarketWatch. AdvisorShares will contribute 40 basis points of the Global Echo ETF's fee to the charitable foundation co-founded by Philippe Cousteau. The ETF will list on the New York Stock Exchange under the ticker GIVE. The Bethesda, Maryland-based mutual fund shop revealed the partnership last July. Noah Hamman, AdvisorShares' chief, explained that "We believe our partnership with Philippe Cousteau Jr. and the Global Echo Foundation will allow investors to realize positive returns on their investment capital while still making a charitable impact for the betterment of the earth." Kostigen reports that four managers will run the fund, but will employ different strategies. Community Capital will use domestic core fixed income strategy, Baldwin Brothers will take on the global equity strategy, Reynders, McVeigh Capital will also use a global equity strategy but will focus in the US, and the First Affirmative Financial Network will take on an alternative long/short investment strategy. According to Cousteau, launching GiVE will be " ... 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." Printed from: MFWire.com/story.asp?s=40053 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |