AdvisorShares, one of the largest issuers of actively managed exchange traded funds, and Mebane Faber’s Cambria Investments are parting ways on the AdvisorShares Cambria Global Tactical ETF (GTAA) .
North Carolina-based Morgan Creek Capital Management will be GTAA’s new sub-advisor. GTAA, which debuted in 2010, is a multi-asset fund comprised of other ETFs. At the end of April, the ETF allocated 33% of its weight to foreign stocks, 22% to U.S. equities and a combined 21% to global and U.S. bonds, according to AdvisorShares data. http://advisorshares.com/fund/gtaa
GTAA’s eleventh-largest holding is Cambria’s Cambria Shareholder Yield ETF (SYLD) .
Morgan Creek’s Mark Yusko will serve as GTAA’s new portfolio manager, according to a statement issued by AdvisorShares.
SYLD and FYLD focus on companies that boosting dividends and buybacks while reducing their debt burdens. GVAL, the newest of the three Cambria ETFs, nvests in about 100 stocks from the world’s most undervalued markets. [New ETF Targets Global Bargains]
AdvisorShares Cambria Global Tactical ETF
ETF Trends editorial team contributed to this piece. Tom Lydon’s clients own shares of TLT.
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