AdvisorShares' 14th actively managed exchange traded fund – and the first of its ETFs to focus on sustainable investment, the Global Echo ETF (GIVE) – opened for trading on Thursday at the New York Stock Exchange.
Launched in partnership with environmental advocate and social entrepreneur Philippe Cousteau Jr., the AdvisorShares Global Echo ETF is a multi-manager fund that seeks to "do well by doing good" by pairing a public investment company product with a private charitable foundation.
In an interview at the NYSE, AdvisorShares CEO Noah Hamman said his three-year-old firm's sole focus on actively managed ETFs involved a complicated, time-consuming process to meet regulatory requirements. But the effort is worth it, he said, because ETFs were transparent, liquid, tax efficient and open to investors of all kinds.
"People should be able to lift the hood whenever they want," Hamman said, "and with the Global Echo ETF, you have four active managers under one ticker symbol."
Global Echo's four sub-advisors may all be seasoned mutual fund managers, but the GIVE launch represents the first time that they will be involved in ETF management:
Equity: Baldwin Brothers, Marion, Mass. Investment strategy focuses on core equity strategies (global) and long only, with sustainable investment themes.
Equity: Reynders, McVeigh Capital Management, Boston. Investment strategy focuses on core equity (global with a U.S. focus) and long only, sustainability and concentrated growth.
Fixed Income: Community Capital Management, Weston, Fla. Investment strategy focuses on sustainable U.S. core fixed income themes.
