AdvisorShares’ GTAA Takes Off, Peritus High Yield ETF to Launch Before Dec. 3

Tue, 11/02/2010 - 11:00 EDT - Seeking Alpha

Shishir Nigam submits:
AdvisorShares launched the Cambria Global Tactial ETF (GTAA) just early last week and has already seen it gain strong traction amongst investors with the fund accumulating more than $17 million in assets in 1 week. Trading volume in GTAA also exceeded 100,000 shares on Nov 1st. The fund is managed by Cambria Investment Management, with portfolio managers Mebane Faber and Eric Richardson making day-to-day portfolio decisions. Faber is known for being the author of the book “The Ivy Portfolio” and the portfolio is managed to strategies similar to those discussed in the book. After its first week in the markets, GTAA’s biggest holdings were the SPDR Dow Jones International Real Estate ETF (RWX), Vanguard Emerging Market ETF (VWO) and iShares MSCI EAFE Small Cap Index (SCZ) with each getting a 5% allocation. Other ETFs were also held in very similar sizes, with weightings generally ranging between 4-5% each. The total cost that investors pay for these underlying ETFs is 30 basis points, which is included in the total net expense ratio of 1.35%. AdvisorShares also announced through a press release on Oct 28th that its long planned Peritus High Yield ETF (HYLD) will launch by December 3rd this year. HYLD will be the first actively-managed ETF to focus on the junk bond sector and it will be managed by Santa Barbara based Peritus Asset Management. The fund will look to target investors on the lookout for higher yields in their portfolio. AdvisorShares’ CEO, Noah Hamman, adds, “Peritus has an established track record managing high yield bonds. More importantly they have extensive high yield bond trading experience and the relationships to find the best opportunities. We believe that the high yield asset class is one which is best served through active management”. AdvisorShares had first announced plans for the Peritus High Yield ETF back in February of this year.Complete Story »

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AdvisorShares’ GTAA Takes Off, Peritus High Yield ETF to Launch Before Dec. 3

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