NEW YORK, July 8, 2014 (GLOBE NEWSWIRE) -- NASDAQ OMX today announced that AdvisorShares, Bethesda, MD.-based sponsor of actively managed exchange traded funds (ETFs) will launch a new ETF on Wednesday, July 9, 2014. AdvisorShares Sunrise Multi-Strategy ETF (Symbol:MULT) will list on The NASDAQ Stock Market(R) (NASDAQ(R)).
"We are pleased to bring another compelling actively managed ETF offering on NASDAQ OMX," said Noah Hamman, CEO of AdvisorShares. "With Sunrise Capital Management serving as MULT's portfolio manager, we believe that we're providing yet another compelling alternative investment solution from a manager with an established expertise -- all through the daily transparency, intra-day liquidity and overall efficiency of an actively managed ETF for financial advisors and investors to access through."
MULT seeks to provide long-term total returns through a multi-model and multi-strategy quantitative investment approach by tactically investing both long and short through a variety of asset classes using ETFs, futures, foreign currencies and U.S. Treasuries. MULT is managed by Sunrise Capital Partners, LLC ("Portfolio Manager"), a San Diego-based SEC registered investment adviser with over three decades of experience in quantitative asset management. The Portfolio Manager looks to achieve MULT's investment objective through a quantitative approach that is designed to be agnostic to the economic environment, across all financial markets including global equity, bond and currency. By doing so, MULT continually assesses over 50 global markets using a suite of diversified systems that concentrate on trend following, sector rotation, momentum, and reversionary patterns.
"As a home to the world's most innovative ventures, NASDAQ OMX generates opportunities for issuers to access new markets and deliver new concepts that change the way the industry develops, manages and applies Exchange Traded Products," said Dave LaValle, Head of Exchange Traded Product Listings at NASDAQ OMX. "We are thrilled to list MULT with our good partners at AdvisorShares and we appreciate their confidence in choosing the NASDAQ marketplace for ETFs."
NASDAQ OMX operates an efficient platform for successfully introducing a product suite into one of the single largest pools of liquidity, including market participants which represent a full spectrum of investors. ETF issuers benefit from an end-to-end solution that provides ongoing product support at every level including index licensing, listings opportunities, data offerings and trading services. As a home to the world's most innovative ventures, NASDAQ OMX generates opportunities for issuers to access new markets and deliver new concepts that change the way the industry develops, manages and applies ETFs.
AdvisorShares offers the most actively managed exchange-traded funds (ETFs) of any investment provider. As of July 1, 2014, AdvisorShares offers 24 active ETFs currently trading with approximately $1.9 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 for more information.
About Sunrise Capital Partners:
Sunrise Capital Partners, based in San Diego, California, is a quantitative asset management firm founded in January 1995 and a successor entity to a lineage of asset management firms that launched in the late 1970s and early1980s. From its beginnings as a small firm managing a private pool of assets for friends and family, over the past three decades Sunrise has evolved into a multi-faceted asset management business that provides a range of alternative investment solutions to clients ranging from individuals to large institutions.
About NASDAQ OMX:
NASDAQ OMX (NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. NASDAQ OMX is home to more than 3,400 listed companies with a market value of over $8.5 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaqomx.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
The AdvisorShares Sunrise Global Multi-Strategy ETF has not been passed on by NASDAQ OMX as to its legality or suitability, and it is not issued or sold by NASDAQ OMX. NASDAQ OMX MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO THE ADVISORSHARES SUNRISE GLOBAL MULTI-STRATEGY ETF.
Nothing contained herein should be construed as investment advice from NASDAQ OMX, either on behalf of a particular financial product or an overall investment strategy. NASDAQ OMX makes no recommendation to buy or sell any financial product or any representation about the financial condition of any company or fund. Investors should undertake their own due diligence and carefully evaluate financial products before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
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.
Foreside Fund Services, LLC, distributor.
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. Derivative risk may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions that could result in losses that exceed the Fund's original investment. Other Fund risks include counterparty risk, credit risk, issuer risk, liquidity risk, portfolio turnover risk, premium- discount risk, foreign securities and foreign investment risk. The Fund may invest in (or short) ETFs, ETNs and other ETPs which will subject the Fund to the same risks associated with the underlying ETFs, which can result in higher volatility. This Fund may not be suitable for all investors. See prospectus for detail regarding risk.
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.
Shares are bought and sold at market price not net asset value (NAV) and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receive if you traded at other times.
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