AdvisorShares Announces the Launch of the Newfleet Multi-Sector Income ETF (MINC) Value-Driven Fixed Income Strategy Delivered in an Actively Managed ETF
BETHESDA, Md., March 19, 2013 /PRNewswire/ -- AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today that the Newfleet Multi-Sector Income ETF (NYSE Arca: MINC) will open for trading on Wednesday, March 20, 2013. MINC is sub-advised by Newfleet Asset Management, an affiliated manager of Virtus Investment Partners, Inc. that has an established track record of delivering widely acclaimed fixed income strategies for their clients.
The investment objective of MINC seeks to provide current income consistent with preservation of capital, while limiting fluctuations in net asset value (NAV) due to changes in interest rates. In doing so, Newfleet's experienced portfolio management team utilizes a three-step process that focuses on sector analysis and allocation, security selection and portfolio construction. Utilizing an opportunistic approach to active management by overweighting and underweighting 14 different bond sectors, the portfolio manager aims to build a diversified and tactical portfolio that seeks to fulfill its investment objective.
"The track record of Virtus and Newfleet in their actively managed mutual fund family is well established," said Noah Hamman, chief executive officer of AdvisorShares. "In bringing MINC to market, we feel shareholders can benefit from their fixed income experience now accessible with the intraday liquidity and operational efficiency of an actively managed ETF. Additionally, we feel investors and financial advisors in search of yield with an actively managed short duration bond ETF may find MINC as a desirable alternative to other short-term investment options."
"We believe our value-driven portfolio management approach, which focuses beyond the typical core bond sectors, can allow MINC shareholders to realize their investment goals. We look forward to providing our expertise in fixed income investment management to an actively managed ETF," said David L. Albrycht, CFA, president and chief investment officer of Newfleet. "The partnership with AdvisorShares on MINC also allows us to extend our distinctive investment capabilities to additional product structures."
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AdvisorShares is one of the leading providers of actively managed ETFs. As of 3/15/2012 AdvisorShares offers 17 active ETFs with approximately $630,000,000 of assets under management.
About Newfleet Asset Management
Newfleet Asset Management, an affiliated manager of Virtus Investment Partners, provides comprehensive fixed income portfolio management, including multi-sector, enhanced core, and core plus strategies and dedicated sector strategies such as emerging markets debt, bank loans and high yield. Newfleet leverages the knowledge and skill of a team of investment professionals with expertise in every sector of the bond market, including evolving, specialized, and out-of-favor sectors.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS), which had $45.5 billion of assets under management at December 31, 2012, is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. Virtus offers access to a variety of investment styles across multiple disciplines to meet a wide array of investor needs, and provides products and services through affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process and individual brand. Additional information can be found at www.virtus.com.
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. Diversification and sector asset allocation do not guarantee a profit, nor do they eliminate the risk of loss of principal. An investment in the Fund is subject to risk, including the possible loss of principal amount invested. The Fund's investment in fixed income securities will change in value in response to interest rate changes and other factors, such as the perception of the issuer's creditworthiness. Fixed income securities with longer maturities are subject to greater price shifts as a result of interest rate changes than fixed income securities with shorter maturities. The Fund's investments in high-yield securities or "junk bonds" are subject to a greater risk of loss of income and principal than higher-grade debt securities. See prospectus for details regarding specific risks.
Press Contact: Ryan Graham