AdvisorShares to release high yield bond ETF

The ETF is managed by Peritus Asset Management, a California-based active credit manager, which focuses on seeking opportunities in the corporate bond market. AdviserShares believes rating agencies and their methodologies have limited value, lagging market perception of risk and ignoring critical aspects of a company's profile. Peritus looks at credit as either triple-A rated or D, in the view that it either pays its coupon and principal obligation, or does not. Without this credit rating restriction, the firm can focus on the credits where they see the best risk-reward. The active...