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GMOM

golub1
in Fund Discussions
It appears from a recent discussion by Charles and other websites that GMOM had a mgmt fee of .59 addition in addition to the acquired funds fee of .35, which would be total of .94. It now has apparently eliminated the .59 and the acquired funds fee has been reduced. Do you think the elimination of the mgmt fee of .59 is a temporary event to build fund assets?

I presume the acquired funds fee has changed because they have changed some holdings.

Comments

  • CharlesCharles
    Hmmm.

    I know GAA has a permanent 0% management fee.

    Did the management fee go to zero on GMOM too? (I hope I did not indicate that...if I did, will correct soonest.)
  • CharlesCharles
    edited January 2015
    Hmmm...the commentary looks correct, it's only GAA where Cambria is applying the 0% management fee. Unless you know something I don't, which is an easy do. c
  • golub1
    Charles November 2014 in Fund Discussions
    GTAA ETF to be dissolved at AdvisorShares, Cambria plans relaunch of strategy as GMOM ETF
    Honestly, think this is good news...
    Letter yesterday:

    Cambria Investment Management, LP and AdvisorShares issued notice today that the two parties plan on separating, and Cambria will move on from sub-advising the Cambria Global Tactical EtF (GTAA) pending board and shareholder approval.
    Cambria, as a fiduciary, is committed to offering the best possible investment portfolios to our investors. Cambria will be launching the successor to GTAA, the Cambria Global Momentum EtF (GMOM), at a management fee of 0.59% in the coming months. GMOM is currently subject to an effective registration statement, and we are finalizing the terms of the listing with the NYSE and the SEC.
    Cambria has been managing global tactical portfolios since 2007, and together with GMOM we will continue to manage these strategies in separate accounts and private funds.
    Cambria has launched three EtFs under our own sponsorship, including the Cambria Shareholder Yield EtF (SYLD), the Cambria Foreign Shareholder Yield EtF (FYLD), and the Cambria Global Value EtF (GVAL).
  • CharlesCharles
    Right, I don't think anything has changed...

    image

    Am I missing something?
  • golub1
    Charles, GMOM has changed the .59 management fee, that you cited above in Nov. to Zero.
  • CharlesCharles
    Wow. Where did you get that info? I thought it was just GAA that is zero.
  • JohnChisum
    I have looked all over and I cannot find any mention of a zero ER.
  • golub1
    Charles I got that from you. Read my 10:15 AM post. This was taken directly from the MFO, Nov. fund discussion. If it's not true than you miss-reported. However I think I've seen that reported elsewhere as well.
  • golub1
    John not a zero ER, but a Zero management fee.
  • CharlesCharles
    No worries.

    I reached out to the source and here is response from Meb:

    From: Mebane Faber
    Date: Sun, Jan 4, 2015 at 8:09 PM
    Subject: Re: GMOM Question
    To: Charles
    Just GAA is 0%, rest of ETFs are around 59 to 69 bps...and hopefully declining over time!
  • JohnChisum
    "John not a zero ER, but a Zero management fee."

    My mistake. Thanks for pointing this out.
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