AdvisorShares Lowers Expense Cap on GTAA ETF

AdvisorShares announced it is lowering the expense cap on the AdvisorShares Cambria Global Tactical ETF (NYSE:GTAA).

AdvisorShares, a sponsor of actively managed exchange-traded funds (ETFs), reported that the expense cap will be lowered from 1.35% to 0.99%, effective February 1, 2011. Total Annual Fund Operating Expenses are 1.32%. The Advisor has contractually agreed to keep net expenses from exceeding 0.99% until September 12, 2011.  

“AdvisorShares and Cambria made a commitment to lower ETF fees as assets grew and operational efficiencies were achieved,” said Noah Hamman, CEO and Founder of AdvisorShares, in the announcement. “In the three months since GTAA launched it has been one of the fastest growing actively managed ETFs, and it has attracted over $72,000,000 in assets as investors have quickly embraced the GTAA investment strategy.”