BNY Mellon Asset Servicing has been selected by AdvisorShares Trust to provide comprehensive exchange traded funds (ETF) services.
BNY Mellon will supply custody, fund accounting, fund administration, basket calculation, and transfer agency services for AdvisorShares’ multi-manager and single-manager strategies.
“We’re pleased to be working with BNY Mellon, which excels in providing ETF services to our sophisticated family of active ETFs,” says Noah Hamman, chief executive officer of AdvisorShares. “We are excited about the imminent launch of our first ETF and anticipate introducing additional products shortly.”
“The AdvisorShares ETF structure delivers the combined benefits of active management found in mutual funds with the advantages of an ETF, including tax efficiencies and real-time pricing and transaction capability.”
“Our reputation for service was a key reason for being chosen as a partner by AdvisorShares,” says Joseph Keenan, managing director and head of relationship management for U.S. Asset Services, BNY Mellon Asset Servicing. “We are continuing to develop the technology required to support an expanding array of ETFs, particularly in the actively managed space.”
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