Oh, and the AdvisorShares Global Alpha & Beta ETF (RRGR) started trading today.
Someone beat me to the first print which is pretty cool. We hit a snag yesterday as it turned out my claims that this ETF will lower cholesterol and whiten teeth could not be substantiated (I stole that joke from a friend) but we were still able to list without delay.
Seriously there was a lot of work by a lot of people to get to this point and of course everyone at our firm and everyone in the Nusbaum household are grateful. But now the real work starts in terms of hopefully delivering a compelling proxy for the stock market and continuing to be accessible as I believe I have been for the last eight years.
14 comments:
What are the Fund Fee & Expenses for RRGR? Thanks!
Can you point us to the fact sheets on your fund? I am interested on what the yield should be.
There are limits on what can be written on the blog and I am still learning so please bear with me.
I can point readers to the RRGR page at http://advisorshares.com/fund/rrgr and can tell people they can call Advisorshares too at 1 877 THE ETF1.
I need to give the Advisorshares crew the trailing yield, which i will work on today but it will be a trailing yield.
In an actively managed portfolio the yield for the next 12 months could be more or less than the yield for the trailing 12 months.
Well, all right. My initial order to purchase RRGR shares just filled, and we're off. Captain, My Captain; may you steer the ship well.
thank you!
Congrats, RR! I can't imagine all the work and red tape you went through, but appreciate your labors and look forward to the ride, not to mention lower cholesterol :)
thank you jakeman,
I probably don't know the half of it, there are dozens of bank personnel involved in the operations (not portfolio management) of the fund
Presume you saw the write up in Barron's Focus on Funds blog, Roger?
Well done!
I'm in, with my meager $15K investment; and being the patient and conservative investor I am, i'm willing to give random at least, oh, say, at least a day-and-a-half to turn my investment into a multi-million dollar stash.
Break a leg random! GO YARD!
thank you
an advantage of a light calendar is everyone who writes about ETFs will write about the one new that comes.
thank you very much 4:51!
Roger, congrads on the ETF. I've been beating up the ow volatility etf approach, and I'm amazed at how well SPLV has done in it's short life time. From the foreign perspective, I was impressed with ABCS, but have been discouraged by comments from another investment professional who commented that low volume etf's are risky investments, since they could be dissolved, and your stuck with a bunch of odd lot shares from all over the world to dispose of. Since your etf will initially be low volume, what's your take on this opinion?
Thanks, Sam
comments like that are not very well informed. liquidity is not how much volume there is but the ability to get a trade executed. Some funds are indeed illiquid because they cannot be easily traded but we have been able to execute orders in size with ETFs that have low volume.
Ending up with a bunch of odd shares is not how ETFs close. An ETF cashes out at the NAV it does not distribute shares of the underlying holdings. However if an ETF you own is going to close you are better off selling in the market than holding on through the cash out process.
Thanks, Roger. The odd shares comment did not make sense, but I needed an expert opinion.
Sam
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