Institutional investors who deal in exchange-traded funds are about to get another option in alternative investments.
Exchange operator NASDAQ announced that AdvisorShares, a Bethesda, MD.-based sponsor of actively ETFs will launch its Sunrise Multi-Strategy ETF on Wednesday, July 9. Sunrise will trade on Nasdaq under the MULT symbol.
The actively-managed fund will be overseen by Sunrise Capital Management, a San Diego-based SEC registered investment adviser with over three decades of experience in quantitative asset management.
“We are pleased to bring another compelling actively managed ETF offering on NASDAQ OMX,” said Noah Hamman, chief executive of AdvisorShares. “With Sunrise Capital Management serving as MULT’s portfolio manager, we believe that we’re providing yet another compelling alternative investment solution from a manager with an established expertise – all through the daily transparency, intra-day liquidity and overall efficiency of an actively managed ETF for financial advisors and investors to access through.”
MULT’s goal is to provide long-term total returns through a multi-model and multi-strategy quantitative investment approach by tactically investing both long and short through a variety of asset classes using ETFs, futures, foreign currencies and U.S. Treasuries.
Sunrise Capital looks to achieve MULT’s investment objective through a quantitative approach that is designed to be agnostic to the economic environment, across all financial markets including global equity, bond and currency. By doing so, MULT continually assesses over 50 global markets using a suite of diversified systems that concentrate on trend following, sector rotation, momentum, and reversionary patterns.
As of July 1, 2014, AdvisorShares offers 24 active ETFs currently trading with approximately $1.9 billion, of assets under management.
