BETHESDA, Md., Sept. 13, 2012 /PRNewswire/ -- AdvisorShares, a leading sponsor of actively managed Exchange Traded Funds (ETFs), announced today that the STAR Global Buy-Write ETF (NYSE Arca: VEGA) will open for trading on Tuesday, September 18, 2012. VEGA is sub-advised by Partnervest Advisory Services (Partnervest), a Santa Barbara, Calif.-based investment advisor. (Logo: http://photos.prnewswire.com/prnh/20110909/PH64986LOGO ) VEGA seeks consistent repeatable returns across all market cycles by using a proprietary strategy known as Volatility Enhanced Global Appreciation ("VEGA"). Partnervest employs a "Buy-Write" or "Covered Call" overlay for VEGA's global allocation strategy using Exchange Traded Products (ETPs). The strategy simultaneously writes (sells) an option against each position in order to seek cumulative price appreciation from the portfolio's global exposure, while generating a consistent income stream from the sale of covered call and/or cash-secured put options, creating less dependence on markets for returns during downturns. When volatility is low the portfolio manager uses protective put options to manage downside risk. "In the growing market for actively managed ETFs, we believe VEGA provides a compelling offering that is truly unique to the space," said Noah Hamman, CEO of AdvisorShares. "We feel investors and our advisor base will find Partnervest's Volatility Enhanced Global Appreciation proprietary strategy as an attractive liquid alternative vehicle that aims to generate lower beta and positive alpha, especially in the face of such market uncertainty. VEGA is a welcomed complement to our broadly diversified stable of actively managed ETFs." "We're excited to partner with AdvisorShares in bringing VEGA to market," said Ken Hyman, President and Chief Executive Officer of Partnervest. "If history has taught us anything, it is that a single person or entity cannot consistently predict the markets with any high degree of accuracy. We feel confident that VEGA may minimize losses on the downside and has the capability to participate in the markets upside, providing investors with an attractive all-weather alternative strategy within a transparent, highly liquid and cost-efficient ETF wrapper." James Herrell, CFA, Chief Investment Officer and Portfolio Manager of VEGA, added, "In managing VEGA, we seek to perform in all market conditions by utilizing a disciplined process designed to harness the benefits that volatility offers. These include providing alternative income sources and the ability to repair a portfolio when it needs it most. In doing so, we strive to realize option premium income during volatility while adding protective put options when volatility is low. We believe investors who become shareholders of VEGA will benefit from our structured target return approach." For media inquiries requesting more information on AdvisorShares, please contact Ryan Graham at 202-684-6442 or firstname.lastname@example.org. 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). About AdvisorSharesAdvisorShares is one of the leading providers of actively managed ETFs. As of 9/10/2012 AdvisorShares offers 15 active ETFs with approximately $650,000,000 of assets under management, including: Alternative StrategiesTacticalCambria Global Tactical ETF (NYSE Arca: GTAA) Meidell Tactical Advantage ETF (NYSE Arca: MATH) Long/ShortAccuvest Global Long Short ETF (NYSE Arca: AGLS) Rockledge SectorSAM ETF (NYSE Arca: SSAM) QAM Equity Hedge ETF (NYSE Arca: QEH) ShortActive Bear ETF (NYSE Arca: HDGE) SustainableGlobal Echo ETF (NYSE Arca: GIVE) Global EquityGlobal Alpha & Beta ETF (NYSE Arca: RRGR) Domestic Equity StrategiesMadrona Domestic ETF (NYSE Arca: FWDD) TrimTabs Float Shrink ETF (NYSE Arca: TTFS) International Equity StrategiesWCM/BNY Mellon Focused Growth ADR ETF (NYSE Arca: AADR) Madrona International ETF (NYSE Arca: FWDI) Global Equity StrategiesAccuvest Global Opportunities ETF (NYSE Arca: ACCU) Income StrategiesPeritus High Yield ETF (NYSE Arca: HYLD) Madrona Global Bond ETF (NYSE Arca: FWDB) AdvisorShares provides educational support to help investors understand ETFs, and the underlying investment strategy for each of the AdvisorShares ETFs. AdvisorShares continues to seek qualified sub-advisor investment partners to offer compelling investment strategies in an active ETF structure. Visit our website at www.advisorshares.com to learn more about us. Follow the AdvisorShares Team on Twitter or 'Like' us on Facebook. About Partnervest Advisory Services, LLCPartnervest Advisory Services, LLC ("Partnervest") serves as investment sub-advisor to the Fund and is responsible for selecting the Fund's investments according to the Fund investment objective, polices and restrictions. Partnervest Advisory Services, LLC has been owned and operated by its founders since 2002. Partnervest provides unbiased investment solutions for advisors and their clients. The firm uses state-of-the-art alternative strategies to create portfolios designed to generate income and manage risk. As of September 9, 2012, Partnervest Advisory Services, LLC managed approximately $435 million in assets. Please visit their website at www.partnervest.com. 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. Other Fund risks included: allocation risk; derivative risk; early closing risk; Exchange Traded Note risk; liquidity risk, market risk; trading risk; commodity risk; concentration risk; counterparty risk; credit risk; emerging markets and foreign securities risk; foreign currency risk; large-, mid- and small- cap stock risk. Please see the prospectus for detailed information regarding risk.