AdvisorShares Announces Reorganization of Dent Tactical ETF (DENT) into Meidell Tactical Advantage ETF (MATH)
BETHESDA, Md., May 21, 2012 /PRNewswire/ -- AdvisorShares, a leading sponsor of actively managed Exchange Traded Funds (ETFs), announced today that the AdvisorShares Dent Tactical ETF (NYSE: DENT) will be reorganized into the AdvisorShares Meidell Tactical Advantage ETF (NYSE: MATH). The AdvisorShares Trust Board of Trustees approved the plan of reorganization effective May 21, 2012. DENT's portfolio management team will resign, effective June 2, 2012, and Laif Meidell, President of American Wealth Management, will act as the interim portfolio manager. Pending shareholder approval, it is planned that the reorganization could be effective on or after September 7, 2012, with the Fund retaining the name of the AdvisorShares Meidell Tactical Advantage ETF (NYSE: MATH) and Meidell serving as the portfolio manager.
Noah Hamman, CEO of AdvisorShares, said, "It's our mission to excel not only through our innovative actively managed ETF suite but also in how we service and communicate to our shareholders, guiding them to achieve the financial goals they seek. After a thorough review with the portfolio management teams of DENT and MATH, our collective conclusion is reorganization is in the best interest of all parties involved, and that the quantitative tactical methodology provided by American Wealth Management is a more advantageous investment solution to shareholders. We also look forward to continuing a productive working relationship with HS Dent Investment Management by utilizing their exceptional demographic and economic research capabilities for commentary to our advisor base."
"We are excited to continue our partnership with AdvisorShares and look forward to the opportunity of supporting additional shareholders," said Meidell. "Since MATH's inception nearly a year ago, we are pleased with the performance our quantitative tactical strategy has exhibited. We expect shareholders may benefit from MATH's ability to take advantage of changes in the economy to determine our asset allocation, as well in how we provide consistent and transparent communication of the portfolio management explaining our investment perspective."
Rodney Johnson, President of HS Dent Investment Management said, "We greatly appreciate the opportunity to have teamed with AdvisorShares and believe this transition will allow shareholders access to a desirable alternative investment solution. After observing MATH's performance and reviewing its investment strategy, we believe American Wealth Management's quantitative tactical methodology could benefit DENT shareholders very well. We look forward to continue our relationship with AdvisorShares by providing strategic research resources that we believe will be instrumental to the growth of both our firms moving forward."
For media inquiries requesting 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 5/18/2012 AdvisorShares offers 13 active ETFs with over $560,000,000 of assets under management, including:
Domestic Equity Strategies
International Equity Strategies
Global Equity Strategies
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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 ETFs' or ETPs' investments, including the possibility that the value of the underlying securities will decrease. The Fund may not be suitable for all investors.