The purveyor of active ETFs decides to reinvent one of its funds.
The AdvisorShares Global Alpha & Beta ETF (RRGR), an actively managed global asset allocation fund, will adopt a new ticker and a new game plan, according to a regulatory filing.
The fund has changed its name to the AdvisorShares EquityPro ETF (EPRO) and has adopted a fund-of-funds strategy whereby it will bet on other exchange-traded funds as well as common stock of issuers of any capitalization range and American depositary receipts.
The predecessor fund was launched in July 2012 but has only attracted $1.5 million in assets since then, according to AdvisorShares’ website. RRGR and its reincarnation both charge 1.48 percent, or $148 for every $10,000 invested. RRGR is up 15.8 percent year-to-date.
There were no other filings or launches this morning.