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Noah Hamman, chief executive of AdvisorShares

AdvisorShares to close Rockledge SectorSAM ETF

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Actively-managed exchange-traded fund sponsor AdvisorShares is to close the AdvisorShares Rockledge SectorSAM ETF (SSAM).

 
The AdvisorShares board of trustees approved the closing and subsequent liquidation of SSAM.
 
Following its last day of trading on 14 June 2013, the ETF will cease operations, withdraw its assets, and distribute the remaining proceeds to shareholders on or after 21 June 2013.
 
Noah Hamman (pictured), chief executive of AdvisorShares, says: "We carefully review the entire AdvisorShares actively managed ETF suite on an ongoing basis.  After consulting with the Rockledge team, we determined that it was in the best interest of shareholders to close SSAM due to its performance and associated costs. As a leading innovator of actively managed ETFs, AdvisorShares remains steadfastly committed to providing a diversified line-up of alternative and core strategies to help investors realise their financial goals."

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