AdvisorShares Announces Change in Sub-Adviser to the Mars Hill Global Relative Value ETF

BETHESDA, Md., Nov. 21, 2011 /PRNewswire/ -- AdvisorShares Investments, LLC ("AdvisorShares") an investment adviser to actively managed exchange-traded funds ("ETFs"), today announced a change in the sub-adviser for the Mars Hill Global Relative Value ETF (NYSE: GRV) (the "Fund"), a series of AdvisorShares Trust. Accuvest Global Advisors ("Accuvest"), a Walnut Creek, CA-based investment adviser that manages over $300 million in global portfolio assets, was approved by the AdvisorShares Trust Board of Trustees as the new sub-adviser to the Fund effective December 1, 2011. Also effective December 1, 2011, the Fund will change its (i) name to the "Accuvest Global Long Short ETF" and (ii) ticker symbol to AGLS (NYSE: AGLS).

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"We continuously analyze our ETF product line-up to provide clients investment options that will help them achieve the financial goals they seek," said Noah Hamman, CEO of AdvisorShares. "This change will bring an expert in global asset management to a product that has fallen short in performance relative to its peers. After reviewing the performance with the current sub advisor, it was concluded that a change was in the best interest of shareholders."

In pursuing the Fund's investment strategy, Accuvest will use its proprietary country ranking model methodology, which ranks countries from most attractive to least attractive based on a broad range of fundamental factors.  Accuvest will then purchase the highest ranked countries and hedge the long portion of the Fund's portfolio by short selling the lowest ranked countries. "Accuvest's proprietary model methodology seeks to identify countries that are targeted to outperform global indices and underperforming countries that can be shorted, which will provide a hedging solution that may provide lower correlation and lower volatility than traditional long-only strategies," Hamman added. 

David Garff, President of Accuvest Global Advisors said, "We are excited to launch our first of two actively managed ETFs with AdvisorShares Trust.  The Fund will provide an active long short ETF solution for advisors looking to complement their alternative investment exposure, as well as a way to get global all capitalization exposure with potential lower volatility. The Fund will allow us to deliver this strategy in a liquid, transparent vehicle that makes it accessible to a wide variety of investors.  In addition to managing the Fund, we also will serve as the sub-adviser for the Accuvest Global Opportunities ETF (NYSE: ACCU), which has not yet commenced operations.  Our upcoming launch of the Accuvest Global Opportunities ETF will provide a focused long-only global equity option for investors."

Financial Professionals only: Join us for a live conference call with the AGLS portfolio managers, Thursday, December 1st at 4pm ET. Call 1-617-939-0999 and enter access code 4759252.

To request more information on AdvisorShares, please contact Noah Hamman or Chuck Robertson at 202-657-6383, [email protected] or [email protected].

About AdvisorShares
AdvisorShares is one of the leading providers of actively managed ETFs.  As of 11/15/2011, AdvisorShares offers 11 active ETFs with over $430,000,000 of assets under management, including:

Alternative Strategies:

Core Tactical Strategies
Dent Tactical ETF (NYSE: DENT)
Cambria Global Tactical ETF (NYSE: GTAA)
Meidell Tactical Advantage ETF (NYSE: MATH)

Core Long/Short Strategies
Mars Hill Global Relative Value ETF (NYSE: GRV)

Core Short Strategies
Active Bear ETF (NYSE: HDGE)

Core Domestic Strategies:
Madrona Domestic ETF (NYSE: FWDD)
TrimTabs Float Shrink ETF (NYSE: TTFS)

Core International Strategies:
WCM/BNY Mellon Focused Growth ADR ETF (NYSE: AADR)
Madrona International ETF (NYSE: FWDI)

Income Strategies:
Peritus High Yield ETF (NYSE: HYLD)
Madrona Global Bond ETF (NYSE: FWDB)

An investment in the Fund is subject to risk, including the possible loss of principal amount invested. The risks associated with the Fund include the risks associated with the underlying ETFs, which can result in higher volatility, and are detailed in the Fund's Prospectus and on the Fund's webpage. The Fund may not be suitable for all investors.

AdvisorShares provides educational support to help investors understand ETFs, and the underlying investment strategy for each AdvisorShares ETF.  AdvisorShares continues to seek qualified sub-adviser investment partners to offer compelling investment strategies in an active ETF structure. Visit our website at www.advisorshares.com to learn more about us. Follow the AdvisorShares Team on Twitter or 'Like' us on Facebook.

Please read the AdvisorShares Funds' Prospectuses and Summary Prospectuses (if available) carefully before investing. The Prospectuses contain each Fund's investment objectives, risks, fees and expenses and other information, which should be considered carefully before investing. Obtain a Prospectus and Summary Prospectus (if available) at the Fund's website at www.AdvisorShares.com.

Foreside Fund Services, LLC, serves as the distributor to the AdvisorShares Trust.

A long position is the purchase of an investment with the expectation that it will rise in value.  A short position is the sale of a borrowed investment with the expectation that it will decline in value. Correlation is a statistical measure of how two securities move in relation to each other. Volatility is a statistical measure of the dispersion of returns for a given security or market index.

SOURCE AdvisorShares Investments, LLC