Below is an email letter we sent to shareholders in June. While I strive to avoid discussing work related matters on social media such as this blog and Twitter, sometimes it is important as a delivery mechanism to ensure all investors are informed. Lots of our investors are not on our work email list, and the below news potentially impacts their investments, especially since many are on summer vacation! The short summary is that we are separating with AdvisorShares and will no longer be running the GTAA ETF as of the end of the day on July, 25th.
You can find the full letter below from early June:
Cambria Investment Management, LP and AdvisorShares issued notice today that the two parties plan on separating, and Cambria will move on from sub-advising the Cambria Global Tactical ETF (GTAA) pending board and shareholder approval.
Cambria, as a fiduciary, is committed to offering the best possible investment portfolios to our investors. Cambria will be launching the successor to the Cambria Global Tactical ETF (GTAA), the Cambria Global Momentum ETF (GMOM), at a management fee of 0.59% in the coming months. GMOM is currently subject to an effective registration statement, and we are finalizing the terms of the listing with the NYSE and the SEC.
Cambria has been managing global tactical portfolios since 2007, and together with GMOM we will continue to manage these strategies in separate accounts and private funds.
Cambria has launched three ETFs under our own sponsorship, including the Cambria Shareholder Yield ETF (SYLD), the Cambria Foreign Shareholder Yield ETF (FYLD), and the Cambria Global Value ETF (GVAL).
You can find more information on Cambria at www.cambriafunds.com. Please feel free to email us with any questions.