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AdvisorShares to launch first actively managed long/short ETF

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AdvisorShares Investments will begin trading in the industry’s first actively managed long/short ETF, the Mars Hill Global Relative Value ETF (GRV). GRV is sub-advised by Mars Hill Partners, an SEC-registered investment adviser and an affiliate of private wealth manager Huntley Thatcher Ellsworth, Ltd.

GRV employs a "relative value" approach created and managed by Mars Hill Partners, which combines long positions in the most attractive country, sector and industry ETFs, with an equal dollar amount short in the least attractive country, sector and industry ETFs.
This core long/short portfolio construction is designed to reduce downside volatility and drawdown risk caused by the directional influence of the global equity markets and instead strives to profit from the performance spread between its long and short positions. These relative value spreads are prevalent throughout both rising and falling market environments, enabling GRV to potentially generate more consistent returns over time than a conventional long-only approach.
"GRV has an institutional-calibre investment strategy that is designed to pursue consistent positive absolute returns regardless of the direction of the stock market or interest rates,” says Noah Hamman, CEO and Founder of AdvisorShares. “We are excited to bring investors access to this compelling investment strategy through an actively managed ETF.”
Founder and Chief Investment Officer of Mars Hill Partners, Jason Huntley adds: "We are very excited to partner with AdvisorShares to package and launch GRV given the underlying merits of our long/short investment strategy when combined with the daily liquidity, fully transparent and tax efficiency benefits of an NYSE-listed ETF. Historically, strategies like ours have been accessible primarily through separate accounts or private hedge funds, neither of which offers anywhere near the benefits of the ETF package which includes transparency."

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