On Tuesday, February 19
, executives and guests of Peritus Asset Management (Peritus
) and AdvisorShares will visit the New York Stock Exchange (NYSE
) to ring the Opening Bell, and to celebrate the listing of the AdvisorShares Peritus High Yield ETF (NYSE Arca: HYLD
), the first high-yield actively managed ETF on the market.
Peritus believes active management is essential in optimizing returns by procuring securities that index-based high yield ETFs cannot access due to a limited investable universe. With no restrictions on bond tranches in HYLD's investment universe, avoiding credit problems is essential as Peritus strongly emphasizes managing risk. HYLD's active management within an asset class that is not easily indexable delivers the same ETF vehicle benefits that investors and financial professionals appreciate-intraday liquidity, better trading control, limit orders, transparency, and a more operationally efficient structure that reduces expenses and can be more tax-aware.
In celebration of the occasion, Tim Gramatovich, CIO, and Ron Heller, CEO of Peritus will ring the NYSE Opening Bell with Noah Hamman, CEO of AdvisorShares. Mr. Hamman will be ringing the bell in honor of David Nichols Jr., a founding Board member of AdvisorShares, who recently passed away.
Tuesday, February 19, 2013
NYSE Security Checkpoint/Tent at corner of Exchange Place and Broad Street
9:00 a.m. Media arrives for bell ringing
9:30 a.m. The Opening Bell rings
Media interested in covering the bell ringing MUST contact Anthony Drizis at 212.656.2147 or firstname.lastname@example.org.
Photos available via Associated Press/New York (212.621.1902), Reuters America (646.223.6285),Getty Images (646.613.4141), Bloomberg Photo (212.617.3420) and European Press Agency (917.670.1323). The Closing Bell (starting at 3:55 p.m.) feed is available via Encompass loop #4009. Media seeking footage via The Switch should contact NYSE Broadcast at 212.656.5483.
For photos and video of the bell ringing, connect with NYSE Euronext on Facebook (NYSE Euronext-Official Site), YouTube (nysetv1), and Twitter (@NYSEEuronext), #NYSEBell
AdvisorShares is one of the leading providers of actively managed ETFs offering domestic, international, alternative and fixed income products. As of 1/31/2013 AdvisorShares offers 17 active ETFs with over $600,000,000 of assets under management.
About AdvisorShares Peritus High Yield ETF (NYSE Arca: HYLD):
Launched on December 1, 2010, HYLD invests in a focused portfolio of high yield debt securities that, via their coupons, generate a high current income stream with a secondary goal of capital appreciation. Peritus Asset Management, the portfolio manager of HYLD, takes a value-based, active credit approach to the markets, largely foregoing new issue participation, favoring instead the secondary market where they believes there is less competition and more opportunities for capital gains. HYLD de-emphasizes relative value in favor of long-term, absolute returns. Additional information about HYLD can be found at http://hyld.advisorshares.com/.
About Peritus Asset Management:
Peritus Asset Management is a SEC-registered investment advisor headquartered in Santa Barbara, CA, with approximately $315 million dollars in assets under management as of 1/31/2013. Founders Tim Gramatovich and Ron Heller began their partnership in 1995. Peritus is a value based, active credit investment manager providing services to institutions and retail investors. For information, please visit www.peritusasset.com