Sponsor of actively managed exchange-traded funds (ETFs), AdvisorShares, is reducing the expense cap on the AdvisorShares Cambria Global Tactical ETF. The expense cap will be lowered from 1.35% to 0.99%, starting from Feb. 1, 2011.
The move reflects the growth of the fund, which has attracted about $72 million in assets. The company will also keep net expenses from exceeding 0.99% until Sept. 12, 2011.
Click here for the release from Market Wire.