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AdvisorShares launches Peritus High Yield ETF


AdvisorShares Investments has launched the Peritus High Yield ETF on the NYSE.

The ETF is managed by Peritus Asset Management, a California-based investment manager.

Peritus is an active credit manager capitalising on opportunities in the corporate bond market. It places limited value on rating agencies and their methodologies, and instead views credit as either "AAA" or "D" – either the credit is expected to pay its coupon and principal obligations or it is not.

Noah Hamman, chief executive and founder of AdvisorShares, says: "We are very excited to be the first firm to offer an actively managed high yield bond ETF to investors, and as identified by an active ETF panel at this year’s Morningstar ETF conference, high yield is one of the top asset classes that benefits from professional active management."

Tim Gramatovich, chief investment officer of Peritus, says: "We are very excited to have launched HYLD with AdvisorShares as we believe many investors have begun to realise the benefits of yield in their portfolios. Delivering this via an ETF brings both transparency and liquidity to a much misunderstood asset class. Given the massive size of the marketplace, we believe that we have the tools to manage this portfolio through any and all environments and as such view HYLD as an active credit fund with all season tyres."

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