BETHESDA, Md., Nov. 2, 2015 /PRNewswire/ -- AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), today announced that Laif Meidell, president of Reno, Nevada-based American Wealth Management received approval from the AdvisorShares Board of Trustees as the new portfolio manager of the AdvisorShares Sunrise Global Multi-Strategy ETF (NASDAQ: MULT), effective before the NASDAQ opens for trading on November 2, 2015. Also effective today, the fund has been renamed the AdvisorShares Market Adaptive Unconstrained Income ETF and continues to trade on the NASDAQ under its new ticker symbol, MAUI.
MAUI becomes the second active ETF managed by Mr. Meidell, who is also the portfolio manager of the four-star Morningstar rated AdvisorShares Meidell Tactical Advantage ETF (NYSE Arca: MATH).1 MAUI is an ETF of ETFs investment strategy that seeks to provide long-term total return and income with a secondary emphasis on capital preservation.
Similar to MATH's tactical nature, MAUI employs a tactical allocation approach using a quantitative methodology and can invest broadly across all segments of the fixed income market, which includes various global regions, income categories, credit qualities and durations. MAUI assesses its underlying investable universe of income ETFs by gauging price velocity to determine how fast, or how slow, the price of rising and falling assets are moving. The fund tactically adapts to market conditions, constantly measuring momentum indicators and durable trends that identify specifically how and when its income portfolio should be allocated, either offensively or defensively.
"We are pleased to have Laif Meidell assume management of this fund and believe his established record and expertise as a portfolio manager will steer MAUI in a direction that can benefit investors," said Noah Hamman, chief executive officer of AdvisorShares. "Similar to the investment approach that has earned MATH industry recognition, MAUI's quantitative methodology will seek to adapt according to opportunities within the income marketplace – free of any emotion wondering if and when the U.S. Federal Reserve or any other major central bank will raise interest rates. For advisors and investors looking for income diversification that can also protect a client's portfolio, we believe MAUI represents a compelling alternative to consider."
"As the president of an RIA and a fiduciary to my own clients, I recognize first-hand how financial advisors face a significant need to invest and diversify in both offensive and defensive positions within client income portfolios," said Mr. Meidell. "The reality is that no individual knows if the future will be like the past. MAUI is designed to adapt to the market and hopefully can create peace of mind for the investor. MAUI seeks to provide consistent total return, and in the event that rising interest rates could cause certain bond funds to lose value, our fund is built to tactically adapt to the market environment and help protect shareholders' investment capital from unforeseen volatility."
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).
A leading provider in the actively managed ETF marketplace, AdvisorShares offers 21 active ETFs with approximately $1.2 billion of assets under management (as of October 23, 2015). Visit www.advisorshares.com to register for free weekly economic commentary. Visit www.alphabaskets.com for educational insight into the active ETF marketplace, and follow @AdvisorShares on Twitter and 'Like' us on Facebook. Every Thursday at 4:00pm Eastern time, AdvisorShares hosts an educational "AlphaCall" for financial professionals featuring portfolio managers and leading investment industry experts. On Thursday, February 19th, this conference call will feature Laif Meidell who will discuss tactical investing and MAUI's investment strategy in greater detail—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. The Fund will primarily invest in ETPs and ETNs which will subject the Fund to additional expenses and risks of each ETP or ETN including but not limited to credit risk, and income risk, and interest rate risk. The Fund may also invest in Closed-End Funds. Secondary market trading prices of closed-end funds should be expected to fluctuate and such prices may be higher or lower than the net asset value ("NAV") of a closed-end fund's portfolio holdings. The Fund may not be able to sell closed-end fund shares at a price equal to the NAV of the closed-end fund. Other Fund risks include counterparty risk, issuer risk, liquidity risk, portfolio turnover risk, premium- discount risk, foreign securities and foreign investment risk. This Fund may not be suitable for all investors. See prospectus for detail regarding risk.
Shares are bought and sold at market 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.
1 As of 9/30/15 Overall Morningstar rating is derived from a weighted average of the fund's 3-, 5-, and 10-year (if applicable) risk-adjusted returns as of 09/30/2015. Category consists of 237 funds in 3 year, 133 in 5 year, and 53 in 10 year. The Morningstar Rating™ is provided for those exchange-traded funds ("ETFs") with at least a three-year history. Ratings are based on the ETF's Morningstar Risk-Adjusted Return measure, which accounts for variation in monthly performance, placing more emphasis on downward variations and rewarding consistent performance. An ETF's risk-adjusted return includes a brokerage commission estimate. This estimate is intended to reflect what an average investor would pay when buying or selling an ETF. PLEASE NOTE, this estimate is subject to change and the actual brokerage commission an investor pays may be higher or lower than this estimate. Morningstar compares each ETF's risk-adjusted return to the open-end mutual fund rating breakpoints for that category. Consistent with the open-end mutual fund ratings, the top 10% of ETFs in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The overall rating for an ETF is based on a weighted average of the time-period ratings (e.g., the ETF's 3, 5, and 10 year rating).. The determination of an ETF's rating does not affect the retail open-end mutual fund data published by Morningstar. Past performance is no guarantee of future results.
Press Contact: Ryan Graham AdvisorShares 202-684-6442 firstname.lastname@example.org