May 21, 2012
/PRNewswire/ -- AdvisorShares, a leading sponsor of actively managed Exchange Traded Funds (ETFs), announced today that the AdvisorShares Dent Tactical ETF (NYSE: DENT) will be reorganized into the AdvisorShares Meidell Tactical Advantage ETF (NYSE: MATH). The AdvisorShares Trust Board of Trustees approved the plan of reorganization effective
, 2012. DENT's portfolio management team will resign, effective
June 2, 2012
, President of American Wealth Management, will act as the interim portfolio manager. Pending shareholder approval, it is planned that the reorganization could be effective on or after
September 7, 2012
, with the Fund retaining the name of the AdvisorShares Meidell Tactical Advantage ETF (NYSE: MATH) and Meidell serving as the portfolio manager.
, CEO of AdvisorShares, said, "It's our mission to excel not only through our innovative actively managed ETF suite but also in how we service and communicate to our shareholders, guiding them to achieve the financial goals they seek. After a thorough review with the portfolio management teams of DENT and MATH, our collective conclusion is reorganization is in the best interest of all parties involved, and that the quantitative tactical methodology provided by American Wealth Management is a more advantageous investment solution to shareholders. We also look forward to continuing a productive working relationship with HS Dent Investment Management by utilizing their exceptional demographic and economic research capabilities for commentary to our advisor base."
"We are excited to continue our partnership with AdvisorShares and look forward to the opportunity of supporting additional shareholders," said Meidell. "Since MATH's inception nearly a year ago, we are pleased with the performance our quantitative tactical strategy has exhibited. We expect shareholders may benefit from MATH's ability to take advantage of changes in the economy to determine our asset allocation, as well in how we provide consistent and transparent communication of the portfolio management explaining our investment perspective."