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.
AdvisorShares is an investment management firm designed to offer actively managed ETFs.
Were pleased to be working with BNY Mellon, which excels in providing ETF services to our sophisticated family of active ETFs, said 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.