AdvisorShares Announces Morgan Creek Capital Management Begins as Portfolio Manager of Global Tactical ETF (GTAA)

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Jul 28, 2014, 08:40 ET

BETHESDA, Md., July 28, 2014 /PRNewswire/ -- AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced that Chapel Hill, North Carolina-based Morgan Creek Capital Management will assume sub-advisor responsibilities of AdvisorShares Morgan Creek Global Tactical ETF (NYSE Arca: GTAA) today, July 28, 2014. Mark W. Yusko, Morgan Creek's CEO and CIO, will serve as lead portfolio manager of GTAA.

In pursuing its investment strategy, Morgan Creek will continue GTAA's investment objective that seeks to preserve and grow capital from investments in major global asset classes that include the U.S. and foreign equity, fixed income, commodity and currency markets – independent of market direction. Morgan Creek will utilize a discretionary macro approach that seeks to provide consistent returns with reduced volatility and manageable drawdowns. GTAA has been a fund of funds strategy but will now additionally use individual stocks, futures contracts, and options (calls or puts) as a means of enhancing returns or limiting portfolio risk as part of its principal investment strategy.

"We are very pleased to welcome Mark Yusko and the Morgan Creek team as the new portfolio manager to GTAA," said Noah Hamman, CEO of AdvisorShares. "Morgan Creek takes a different approach to global tactical asset allocation and utilizes a deep network of industry resources with expertise which has served institutions and top endowments, employing forward-looking investment themes and trends that we believe will benefit GTAA shareholders. We feel that their world-class globally-based investment team delivers yet another compelling core alternative strategy to our actively managed ETF suite."

"We are delighted to partner with AdvisorShares and look forward to providing Morgan Creek's discretionary macro investment approach as portfolio manager of GTAA," said Mr. Yusko. "As an experienced investment manager deeply rooted across institutions, private wealth, and top university endowments throughout the country, we strive to think alternatively and to provide an edge that we believe best suits our investors. We feel that delivering our alternative investment process through the daily transparency, intraday liquidity, efficiency and accessibility of an ETF structure can serve as a core for investors and advisors' client portfolios."

For media inquiries requesting more information on AdvisorShares, please contact Ryan Graham at 202-684-6442 or [email protected]. 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).

About AdvisorShares

AdvisorShares is one of the leading providers of actively managed ETFs. As of July 25, 2014, AdvisorShares offers 25 active ETFs currently trading with over $1.8 billion 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.

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