AdvisorShares Peritus High Yield ETF marks $1 billion of assets

By Jennifer Chiou

New York, May 14 - AdvisorShares announced that the AdvisorShares Peritus High Yield ETF surpassed the $1 billion asset milestone.

According to a press release, the fund is managed by Peritus Asset Management.

"This is further testament that active management not only works in a fully-transparent ETF, but can work very well," AdvisorShares chief executive officer Noah Hamman said in the release.

"When it comes to leveraged finance assets, we firmly believe traditional indexing just doesn't work well," Tim Gramatovich, chief investment officer of Peritus, said in the release.

As reported, the fund (NYSE: HYLD) is the first high-yield actively managed exchange-traded fund that has met CBOE listing requirements.

Bethesda, Md.-based AdvisorShares is a provider of actively managed ETFs.

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