Fund.com Subsidiary, AdvisorShares, Partners with BNY Mellon and WCM Investment Management to Launch WCM/BNY Mellon Focused Grow
16 December 2009 - 5:14AM
PR Newswire (US)
NEW YORK, Dec. 15 /PRNewswire-FirstCall/ -- Fund.com, Inc., (OTC
Bulletin Board: FNDM), an exchange traded fund and education
provider, announced today that its subsidiary, AdvisorShares
Investments, LLC, will launch the WCM/BNY Mellon Focused Growth ADR
ETF, (NYSE Arca: AADR), in January, the first actively managed ETF
to invest in international American Depositary Receipts or ADRs.
BNY Mellon, one of the world's leading financial institutions with
more than $966 billion in assets under management as of Dec. 10, is
the provider of the BNY Mellon Classic ADR Index. WCM Investment
Management, Laguna, CA, as sub-advisor to the fund, will direct the
ETF's investments in a limited number of non-US companies that are
dominant leaders in their industries. WCM has a proven track record
of success using this investment strategy for more than two
decades. AADR will be AdvisorShares' second actively managed ETF.
AdvisorShares' Dent Tactical ETF was launched in September.
Fund.com owns 60% of AdvisorShares Investments LLC. Fund.com CEO
Greg Webster said, "We believe WCM/BNY Mellon Focused Growth ADR
ETF may be an efficient and accessible way for investors to capture
the potential of high-performing international stocks using this
proven active management discipline." "We envision WCM/BNY Mellon
Focused Growth ADR ETF as the second offering in what we anticipate
will be a family of actively managed ETFs," he added. "Along with
the DENT Tactical ETF, which focuses on US and global growth
companies, AADR gives investors an easy way to diversify their
portfolios with varying asset classes, strategies and styles," he
said. Webster noted that AdvisorShares business model generates
consistent fee income from asset management fees. It strives to
grow assets under management by partnering with leading asset
management companies that use the AdvisorShares ETF platform to
launch new ETFs. "The addition of AADR to AdvisorShares' family of
funds may potentially have a significant impact on Fund.com's
bottom line," said Webster, "if AADR's growth trajectory can follow
that of another ETF founded by AdvisorShares CEO Noah Hamman. At
Rydex, he led the launch of the Rydex S&P 500 Equal Weight ETF
in April 2003, and it now has $1.6 billion under management." About
Fund.com Fund.com's subsidiary, AdvisorShares Investments LLC, is
creating actively managed ETFs, such as the Dent Tactical ETF, to
take advantage of the rapidly growing ETF business. Fund.com also
is an online content provider and lead generation platform for
investment funds and other financial services providers. Its
objective is to engage individual investors and to match their
needs with interested fund product providers. The
http://www.fund.com/ website is approachable to everyday investors
and serves as an educational and research resource. Fund.com also
is an education provider. Forward-Looking Statements: Statements in
this press release regarding future performance and the potential
advantages of the products and services provided by Fund.com, and
any other statements about future expectations, beliefs, goals,
plans, or prospects expressed constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Any statements that are not statements of historical fact
(including statements containing the words "will," "believes,"
"plans," "anticipates," "expects," "estimates," and similar
expressions) should also be considered to be forward-looking
statements. There are a number of important factors that could
cause actual performance or events to differ materially from those
indicated by such forward-looking statements including the
Company's limited operating history and economic conditions
generally. Additional information on potential factors that could
affect results and other significant risks and uncertainties are
detailed from time to time in Fund.com's periodic reports,
including Forms 10-K, 10-Q, 8-K, and other forms filed with the
Securities and Exchange Commission. Before investing you should
carefully consider the Fund's investment objectives, risks, charges
and expenses. This and other information is in the prospectus, a
copy of which may be obtained by calling 1-877-843-3831. Please
read the prospectus carefully before you invest. Foreside Fund
Services, LLC, Distributor. An investment in the Fund is subject to
risk, including the possible loss of principal amount invested.
Other Fund risks include concentration risk, foreign securities and
currency risk, emerging markets risk, large-cap risk, early closing
risk, and trading risk, which can increase Fund expenses and may
decrease Fund performance. The Fund is, also, subject to the same
risks associated with the underlying ETFs, which can result in
higher volatility. Newly organized, actively managed Funds have no
trading history and there can be no assurance that active trading
markets will be developed or maintained. PR/Media Relations: Stern
& Co. Richard Stern, 212-888-0044 DATASOURCE: Fund.com CONTACT:
PR/Media Relations, Richard Stern, Stern & Co.,
+1-212-888-0044, Web Site: http://www.fund.com/
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