Fund.com, Inc. announced today after the closing bell that its majority-owned subsidiary, AdvisorShares Investments, LLC, a developer and distributor of actively managed ETFs, anticipates having three actively managed ETFs trading on the New York Stock Exchange in April. As of today, there are only 17 actively traded ETFs on the market.
According to Fund.com CEO Gregory Webster, AdvisorShares is one of the few firms that has approval from the Securities and Exchange Commission (technically known as exemptive relief from the provisions of the Exchange Act of 1940) to form new actively managed ETFs. Webster noted AdvisorShares’ major advantage in its ability to bring to market active manager strategies through an AdvisorShares ETF.
Webster stated, “AdvisorShares earns its revenues from sharing in the investment advisors’ management fees by providing services to register, list and market actively managed ETFs.”
As an originator and distributor of new actively managed ETFs, Fund.com’s AdvisorShares has previously announced relationships to develop actively managed ETFs on its patent-pending ETF development platform with WCM Investment Management, Laguna, CA, in conjunction with BNY Mellon, NYC, Peritus Asset Management, Santa Barbara, CA.; and Mars Hill Partners, LLC, Colorado Springs, CO.
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