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Fund.com acquires majority stake in AdvisorShares Investments

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New York-based Fund.com, an online financial information provider, has acquired a majority interest in AdvisorShares Investments, a developer of proprietary exchange traded funds.

New York-based Fund.com, an online financial information provider, has acquired a majority interest in AdvisorShares Investments, a developer of proprietary exchange traded funds.
 
The acquisition enhances the mission of Fund.com to connect individual investors with appropriate diversified fund products and to also assist asset managers in building client assets under management.
 
In the US there are currently 10,466 registered investment advisors that control USD37.5trn in professionally managed assets, according to Tiburon Strategic Advisors.
 
AdvisorShares will partner with registered investment advisers to create individual actively managed ETFs customized for their clients and will allow the advisers to actively rebalance the portfolio within the ETF.
 
Greg Webster, chief executive of Fund.com, says: ‘Registered investment advisors are looking for solutions for their clients, particularly in this economic climate, and AdvisorShares represents a simple tool for RIAs in their active asset allocation strategies.’
 
Noah Hamman, chief executive of AdvisorShares, adds: ‘This partnership is timely and strategic. Our focus is to offer professionally managed ETFs, which provide operational and tax efficiency, with diversified investment strategies designed to help investors meet their financial goals.’
 
AdvisorShares is seeking exemptive relief from the Securities and Exchange Commission and is expected to offer a suite of actively-managed ETFs in early 2009.

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