The mandate extends BNY Mellon’s relationship with AdvisorShares, which began in 2009, and covers 14 ETFs with assets worth over $500m.
Global Echo is a multi-manager ETF focusing on investment themes, sub-advised by Community Capital Management; Baldwin Brothers; Reynders, McVeigh Capital Management and First Affirmative Financial Network.
BNY Mellon Asset Servicing managing director and global head of ETF services Joseph Keenan said that the ETF will contribute 0.40 percent of the ETF management’s fee to the Global Echo Foundation.
"Our strong investment in the ETF business has positioned BNY Mellon with the ability to provide top-flight service to an operationally complex actively managed fund such as GIVE," Keenan said.
In February 2012, BNY Mellon has been selected to provide ETF services, custody, fund accounting and fund administration for the AdvisorShares Rockledge SectorSAM ETF.
