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 (NYSEArca: 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 (NYSEArca: SYLD).
Morgan Creek’s Mark Yusko will serve as GTAA’s new portfolio manager, according to a statement issued by AdvisorShares.