Tuesday, 5 May 2015
Last updated 9 min ago
Jul 29 2010 | 12:33pm ET
Exchange-traded fund house AdvisorShares has launched a long/short ETF managed by hedge fund Mars Hill Partners.
The Mars Hill Global Relative Value ETF debuted on the New York Stock Exchange earlier this month. Bethesda, Md.-based AdvisorShares said it was “the industry’s first actively-managed long/short ETF.”
“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,” Mars Hill founder Jason Huntley said. “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.”
The new ETF invests in ETFs covering countries, sectors and industries deemed most attractive by Mars Hill. It then puts an equal amount of money into shorting what the firm sees as the least attractive countries, sectors and industries.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…