AdvisorShares Press Release, AdvisorShares Announces October 2014 Distributions
The AdvisorShares Newfleet Multi-Sector Income ETF (NYSE Arca: MINC) seeks to provide current income consistent with preservation of capital, while limiting fluctuations in net asset value (“NAV”) due to changes in interest rates. MINC is managed by Newfleet Asset Management (“Portfolio Manager”), an investment subsidiary of Virtus Investment Partners. Newfleet believes that active fixed income sector rotation and quality security selection, combined with disciplined risk management, offers the best potential to achieve the Fund's investment objective of providing a high level of total return, including a competitive level of current income in the fixed income market.
|Yield to Maturity||3.12%|
|30-Day SEC Subsidized Yield||2.92%|
|30-Day SEC Unsubsidized Yield||2.85%|
Past Performance is not indicative of future results. MINC statistics and bond sector allocation are for the actual MINC security holdings as of the listed date, excluding cash. Duration is the change of a fixed income security that will result from a 1% change in interest rates, and is based on the yield to worst date. Yield to Maturity is the yield if the security is held until the maturity date. 30–Day SEC Yield (Standardized Yield) is an annualized yield that is calculated by dividing the investment income earned by the Fund less expenses over the most recent 30-day period by the current maximum offering price. The Subsidized Yield reflects fee waivers and/or expense reimbursements recorded by the Fund during the period. Without waivers and/or reimbursements, yields would be reduced. The Unsubsidized Yield does not adjust for any fee waivers and/ or expense reimbursements in effect. If the Fund does not incur any fee waivers and/or expense reimbursements during the period, the 30-Day Subsidized Yield and 30-Day Unsubsidized Yield will be identical.
The ratings issued by Nationally Recognized Statistical Rating Organizations assess the credit worthiness of a corporation's or government debt issues. The ratings apply to the fund's holdings and not the fund itself. The higher of the ratings between Moody’s, Standard & Poor's and Fitch is used. If one of the three agencies does not have a rating, the higher of the other two ratings is used. If only one agency has rated the bond, the rating from that agency is used. If none of the three agencies have rated the bond the bond is placed in the Not Rated category.
The credit ratings are published rankings based on detailed financial analyses by a credit bureau specifically as it relates to the bond issue'rs ability to meet debt obligations. The highest rating is AAA, and the lowest is D. Securities with credit ratings of BBB and above are considered investment grade.
|NAV||Market Price Return||Barclays Capital Aggregate Bond Index|
|NAV||Market Price Return||Barclays Capital Aggregate Bond Index|
Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized.
The Barclays Capital Aggregate Bond Index measures the performance of the U.S. investment grade bond market. One cannot invest directly in an index.
|Ex-Date||Record Date||Pay Date||Cash Div||ST Cap Gain||LT Cap Gain||Return of Capital||Total Distribution|
David L. Albrycht, CFA. - President and Chief Investment Officer
David Albrycht is president and chief investment officer of Newfleet Asset Management, an investment management affiliate of Virtus Investment Partners. Prior to joining Newfleet in 2011, Mr. Albrycht was executive managing director and senior portfolio manager with Goodwin Capital Advisers, a former Virtus investment management subsidiary. He joined the Goodwin multi-sector fixed income team in 1985 as a credit analyst and has managed fixed income portfolios since 1991.
Mr. Albrycht earned a B.A., cum laude, from Central Connecticut State University and an M.B.A., with honors, from the University of Connecticut. He holds the Chartered Financial Analyst designation.
Jonathan R. Stanley, CFA. - Managing Director, Fixed Income Research
Jonathan Stanley is managing director, fixed income research at Newfleet Asset Management, an investment management affiliate of Virtus Investment Partners. Prior to joining Newfleet in 2011, Mr. Stanley was on the fixed income team at Goodwin Capital Advisers, an investment management company that previously was a subsidiary of Virtus. At Newfleet, he continues in the same role that he held at Goodwin Capital, serving as the sector manager for high yield credit. In addition, he is co-portfolio manager of the Virtus High Yield Fund.
Mr. Stanley earned a B.S. in accounting from Fairfield University and an M.B.A. from the University of Florida. He is a CFA (Chartered Financial Analyst) charter holder. He began working in the investment industry in 1997.Christopher J. Kelleher, CFA, CPA. - Senior Managing Director and Senior Portfolio Manager
Mr. Kelleher earned a B.S. in accounting from the University of Connecticut and a M.S. in accounting from the University of Hartford. He holds the Chartered Financial Analyst designation and is a Certified Public Accountant and Certified Financial Planner. He began his career in the financial services industry in 1983.
|4PM Bid/Offer Midpoint||$49.52||Premium/Discount||$0.04|
|Assets Under Management||$175,653,235.68|
|Premium/Discount Historical Data|
|US TREASURY N/B 1 9/15/2017||100.398||2.86%|
|JPMCC 2007-LD12 A4 FRN 2/15/2051||109.527||1.16%|
|WBCMT 2007-C31 AM FRN 4/15/2047||108.072||<1%|
|CGCMT 2007-C6 A1A FRN 12/10/2049||109.007||<1%|
|CFAB 2004-2 1A4 5.323 2/26/2035||101.098||<1%|
|LBUBS 2007-C6 A4 FRN 7/15/2040||106.256||<1%|
|JPMCC 2006-LDP7 AM FRN 4/15/2045||107.092||<1%|
|MVCOT 2012-1A A 2.51 5/20/2030||101.79||<1%|
|GCCFC 2007-GG9 A4 5.444 3/10/2039||107.775||<1%|
|BACM 2007-2 A4 FRN 4/10/2049||108.575||<1%|
Shares are bought and sold at market price (closing price) not NAV and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined), and do not represent the return you would receive if you traded at other times. Holdings and allocations are subject to risks and to change. A holding identified with an "MM" at the end of its name indicates it is a Money Market fund.
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