AdvisorShares to Launch New Long/Short ETF On Jan. 12
AdvisorShares, the Maryland-based ETF issuer most known for its suite of actively managed ETFs, will add that lineup on January 12, 2012 when the AdvisorShares Rockledge SectorSAM ETF debuts on the New York Stock Exchange under the ticker "SSAM."
The new ETF will seek to generate stable and consistent annual returns under all market conditions by utilizing both long and short positions in U.S. Sector ETFs that correspond to the U.S. large capitalization sectors, according to a statement issued by AdvisorShares.
SSAM will have an expense ratio of 1.5%. The ETF's fact sheet currently does not indicate what ETFs SSAM will establish long and short positions in.
"We are very excited to be launching SSAM with Alex Gurvich's team from Rockledge," said Noah Hamman, CEO and Founder of AdvisorShares. "Financial Advisors and investors are seeking more active and hedging strategies to add to their investment portfolio. The ability to add a new alternative manager in a transparent, cost-effective actively managed ETF structure will be a compelling offering to both advisors and their clients. We feel this provides an excellent complement to our existing suite of actively managed ETF strategies."
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.