AdvisorShares Investments, LLC, a developer and distributor of actively managed ETFs, was excited to announce today that it has partnered with Peritus Asset Management, LLC, Santa Barbara, CA, a value-based, active credit investment manager, to create a new actively-managed ETF, anticipated to be a high yield bond-focused ETF. The new ETF would join AdvisorShares’ growing portfolio of innovative actively managed ETFs. In addition, in an exclusive arrangement, Peritus agreed to develop all future ETFs with AdvisorShares.
“Peritus has an outstanding track record managing high yield investments,” stated Noah Hamman, CEO and founder of AdvisorShares. “AdvisorShares believes an important advantage of actively managed ETFs is to enable more investors to benefit from particularly skillful advisors such as Peritus.”
Tim Gramatovich, chief investment officer of Peritus Asset Management, commented, “At Peritus, we take a value-based contrarian approach to the credit markets, foregoing relative value and new issue participation in favor of absolute returns. We look for structural and technical inefficiencies within secondary credit markets that create tremendous investment opportunities.”
“We believe AdvisorShares will help us create distinctive, actively managed products that will introduce new investors to our value-based approach,” he added.
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