BETHESDA, Md., June 6, 2013 /PRNewswire/ -- AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today that the AdvisorShares Rockledge SectorSAM ETF (NYSE Arca: SSAM) will be closed. The AdvisorShares Board of Trustees approved the closing and subsequent liquidation of SSAM. Following its last day of trading on June 14, 2013, the ETF will cease operations, withdraw its assets, and distribute the remaining proceeds to shareholders on or after June 21, 2013.
Noah Hamman, CEO of AdvisorShares, said, "We carefully review the entire AdvisorShares actively managed ETF suite on an ongoing basis. After consulting with the Rockledge team, we determined that it was in the best interest of shareholders to close SSAM due to its performance and associated costs. As a leading innovator of actively managed ETFs, AdvisorShares remains steadfastly committed to providing a diversified line-up of alternative and core strategies to help investors realize their financial goals."
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).
AdvisorShares is one of the leading providers of actively managed ETFs. As of 6/5/2013, AdvisorShares offers 18 active ETFs with approximately $830,000,000 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 insight into the active ETF marketplace, follow @AdvisorShares on Twitter and 'Like' us on Facebook. Every Thursday at 4:00pm EDT, AdvisorShares hosts an educational conference call for Financial Professionals featuring our portfolio managers and leading investment industry experts—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. 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.