AdvisorShares has partnered with explorer, social entrepreneur and environmental advocate Philippe Cousteau, Jr. to launch AdvisorShares Global Echo ETF (NYSE: GIVE), an active, multi-manager socially responsible fund.

Community Capital Management, Inc. of Weston, Fla. will employ an investment strategy focus on a thematic sustainable core fixed income strategies for the fund (U.S. Focus). Baldwin Brothers, Inc. of Marion, Mass. and Reynders, McVeigh Capital Management, LLC, also of Boston, Mass., will focus on long only equity strategies for the fund. Also, GIVE employs an alternative sleeve managed by First Affirmative Financial Network, LLC of Colorado Springs, Colo., which will employ a long/short trend following strategy.

The $25 million fund, which sports a net expense ratio of 170 basis points, will donate 40 basis points of its management fee to the Global Echo Foundation, a 501(c)(3) charitable foundation, co- founded by Cousteau Jr., which provides funding to social issues impacting women and children, environmental conservation and social entrepreneurship through micro-enterprise.

Hung Tran writes for Money Management Executive.