] 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.
, 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."
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