Opalesque Industry Update - Foundation to address pressing social and environmental issues|
Social entrepreneur and environmental advocate Philippe Cousteau Jr. and AdvisorShares Investments, a sponsor of actively managed Exchange Traded Funds (ETFs), today announced a partnership to develop the AdvisorShares Global Echo ETF (NYSE: GIVE), which will bring the first multi-manager ETF with an absolute return and sustainable investment mandate to advisors and their clients. The Global Echo Foundation, a 501(c)(3) charitable foundation co-founded by Philippe Cousteau Jr., will provide funding solutions to many of the challenges facing the world community from social issues impacting women and children to environmental conservation, as well as supporting social entrepeneurship. The Global Echo Foundation will be funded through a portion of the Global Echo ETF management fee.
“Through my work with individuals and organizations around the globe, I’ve seen an opportunity and a need for creative solutions to the global challenges we face. It is critical that we find innovative models for the financial market that create positive impact for investors, and the world, beyond financial returns. By employing a blended model of strategic investment and sustainable philanthropy, we now have the opportunity to create a financial instrument that will help drive resources to solving some of the world’s biggest challenges,” said Cousteau, Co-founder and Chairman, Global Echo Foundation.
Noah Hamman, CEO and Founder of AdvisorShares, said, “This is a wonderful opportunity for us to provide an innovative solution to support the earth, the environment and the social challenges we face. We feel that partnering with Philippe Cousteau Jr. and his Foundation is the perfect opportunity for us to give a practical option for the average investor to make a difference with their investment capital without having to give it away.”
AdvisorShares is one of the leading providers of actively managed ETFs. As of 07/01/2011 AdvisorShares offers 10 active ETFs with over $360,000,000 of assets under management, including:
Core Tactical Strategies
Core Long/Short Strategies
Core Short Strategies
Core Domestic Strategies
Core International Strategies
About Philippe Cousteau Jr.
Explorer, social entrepreneur and environmental advocate, Philippe Cousteau Jr. is the 31-year-old son of Jan and Philippe Cousteau Sr., and the grandson of Captain Jacques-Yves Cousteau. As a member of the legendary family, Philippe is continuing the work of his father through EarthEcho International (www.earthecho.org), the non-profit organization he founded with his sister and mother and of which he serves as CEO. His goal is to engage and empower people to take action for a brighter future.