DALLAS, June 2, 2011 /PRNewswire/ -- Esposito Securities, LLC is proud to announce that the AdvisorShares-Cambria Global Tactical Fund (NYSEArca: GTAA) has succeeded in attracting more than $170 Million in assets under management. As the fund attracts significant assets under management (AUM) it demonstrates to the financial community that actively managed ETFs are an asset class that will have longevity. Portfolio Manager, Mebane Faber stated: "I am pleased with GTAA's growth and excited about the future of our ETF product line. Further, I believe that our strategy is a powerful tool for the investment community to use in portfolio management. "
Noah Hamman, Founder of AdvisorShares added: "We are excited about the growth of active ETFs. Active ETFs have grown faster in their first 3 years of existence than index ETFs did in their first 3 years. We feel that advisors are appreciating the benefits of professional money management with the transparent, liquid, and tax efficient benefits of ETFs."
Esposito Securities was pleased to be the seed participant that brought GTAA to market. Mark A. Esposito, Chief Executive and Founder of Esposito Securities said: "We strive to find products that have the management and vision in place to succeed in the ETF space. We wish to congratulate Advisor Shares and Cambria in bringing this product to market and having the ability to attract such a large early interest from investors."
Recent ETF activity speaks to the strategic direction of Esposito to provide across the board value-added services to its clients. Esposito Securities, LLC, is a part of the Esposito Global family, and provides global equity trading services. A growing list of clients use our services, including registered investment advisors, mutual funds, hedge funds, ETFs, closed end funds and unit investment trusts with trillions of dollars in assets. The benchmark of Esposito is a commitment to customer service.
SOURCE Esposito Securities, LLC