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Rating:AdvisorShares Preps to Expand its ETF Menu Not Rated 1.0 Email Routing List Email & Route  Print Print
Thursday, June 02, 2011

AdvisorShares Preps to Expand its ETF Menu

Reported by Armie Margaret Lee

Executives of Bethesda, Maryland-based ETF shop AdvisorShares [see profile] and El Segundo, California-based asset manager Cambria Investment Management trooped to Manhattan this morning to ring the opening bell at the New York Stock Exchange. The executives are celebrating the growth of the AdvisorShares Cambria Global Tactical ETF, which was launched last October and now counts $170 million of AUM.

The ETF is the largest among AdvisorShares' six ETFs. The six have a total of $292 million of assets.

AdvisorShares CEO Noah Hamman, Cambria Investment Management CEO Eric Richardson and Cambria CIO Mebane Faber were among those in attendance at the bell ringing ceremony.

Hamman told The MFWire.com that his firm is planning to launch three ETFs sub-advised by Madrona Funds in the next few weeks.  

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