AdvisorShares Announces Change in Portfolio Manager, Ticker Symbol and New Fund Name: AdvisorShares EquityPro ETF (NYSE Arca: EPRO)
BETHESDA, Md., Nov. 26, 2013 /PRNewswire/ -- AdvisorShares, a leading sponsor of 18 actively managed exchange-traded funds (ETFs), today announced that Irvine, Calif.-based The Elements Financial Group, LLC (TEG) was approved by the AdvisorShares Board of Trustees as the new portfolio manager to the AdvisorShares Global Alpha & Beta ETF (NYSE Arca: RRGR), effective December 1, 2013. Also effective that date, the Fund will be renamed the AdvisorShares EquityPro ETF and continue trading on the NYSE Arca under the ticker symbol, EPRO.
"We constantly evaluate all the products within the AdvisorShares actively managed ETF suite," said Noah Hamman, chief executive officer of AdvisorShares. "After carefully considering the Fund's performance and assets under management, we consulted with Your Source Financial and TEG and subsequently decided that it was in shareholders' best interest to change portfolio managers."
In pursuing the EPRO investment strategy, the portfolio manager will employ a disciplined, quantitative top-down approach that tactically manages exposure to global equities and dynamically allocates among global economic sectors by investing primarily in other ETFs. The manager will apply its investment process to either fully invest in global equities, or maintain a more defensive position with more U.S. fixed income exposure in the EPRO portfolio.
"We are very pleased to partner with AdvisorShares on our first actively managed ETF strategy," said Joshua Emanuel, chief investment officer of TEG and portfolio manager of EPRO. "With our unique quantitative approach, we blend the most relevant progressive research with disciplined portfolio construction in striving to deliver an innovative investment solution for investors. With EPRO, we look forward to providing shareholders exposure to a diversified global equity portfolio with flexible risk and the added transparency, liquidity and overall efficiency of an active ETF."
Financial Professionals only: On Thursday, December 5th at 4:00pm Eastern time, the AdvisorShares weekly Alpha Call will feature Josh Emanuel, portfolio manager of EPRO, providing a detailed overview of the investment strategy. Dial-In: (800) 977-8002; Code: 777534#
To request more information on AdvisorShares, please contact Ryan Graham at 202-684-6442 or email@example.com. For financial professionals and investors requesting more information, please visit www.advisorshares.com or call the AdvisorShares Investment Consultant Team at 1-877-THE-ETF1 (1-877-843-3831).
AdvisorShares is one of the leading providers of actively managed ETFs. As of 11/25/2013, AdvisorShares offers 18 active ETFs with over $1,011,000,000 of assets under management. AdvisorShares provides educational support to help financial advisors and investors understand the benefits of actively managed ETFs and their underlying investment strategies.
Please visit www.advisorshares.com to register for free weekly economic commentary. For educational insight into the active ETF marketplace, visit www.alphabaskets.com, follow @AdvisorShares on Twitter and 'Like' us on Facebook. Every Thursday at 4:00pm Eastern time, AdvisorShares hosts an educational conference call for Financial Professionals featuring our portfolio managers and leading investment industry experts—Dial: 1-800-977-8002; Code: 777534#
Before investing you should carefully consider the Fund's investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting the Fund's website at www.AdvisorShares.com. Please read the prospectus carefully before you invest.
There is no guarantee that the Fund will achieve its investment objective. An investment in the Fund is subject to risk, including the possible loss of principal amount invested. Other Fund risks include market risk, asset allocation risk, early closing risk, liquidity risk and trading risk. The Fund is also subject to the risks associated with the underlying ETF investments, including the possibility that the value of the underlying securities will decrease. The Fund may not be suitable for all investors.
Alpha is the premium an investment earns above a certain benchmark.
Beta is the measure of a fund's relative volatility as compared to the S&P 500 Index.
Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receive if you traded at other times.
Contact: Ryan Graham