Fund Description: AdvisorShares Sunrise Global Multi-Strategy ETF is an actively managed exchange-traded fund or Actively Managed ETF which is a separate investment portfolio of the AdvisorShares Trust, a diversified open-end investment management company. INVESTMENT OBJECTIVE: The AdvisorShares Sunrise Global Multi-Strategy ETF seeks to provide long-term total returns. The Fund is an actively managed ETF and does not seek to replicate the performance of a specified Index. Instead, it uses an active investment strategy to seek to meet its investment objective. The Sunrise Capital Partners, the Sub-Advisor, subject to the oversight of the Advisor and the Board, has discretion on a daily basis to manage the Fund’s portfolio in accordance with the Fund’s investment objective and investment policies. FUND STRATEGY: The Fund seeks to achieve its investment objective by utilizing a diversified multi-asset strategy that invests, both long and short, in numerous global markets to gain diversified exposure to equity securities and sectors. To obtain such exposure, the sub-advisor invests in exchange traded funds (ETFs) and other exchange traded products (ETPs), as well as U.S. treasuries, stock index futures, single stock futures, fixed income futures, over-the-counter currencies and currency futures. To the extent that the Fund invests in ETPs to gain exposure to a particular domestic or global market, the Fund is considered, in part, a fund of funds. In seeking to achieve the Fund’s investment objective, the Sub-Advisor will employ a proprietary multi-technique strategy that includes trend-following and momentum-utilizing trading methods, pattern recognition methods, and mean reversion methods, among others. The Fund’s portfolio will vary greatly over time depending upon the investment opportunities presented by trading models. On a day-to-day basis, the Fund may hold U.S. government issued securities, money market instruments, cash, other cash equivalents, and ETPs that invest in these and other highly liquid instruments to collateralize its derivative positions. FUND MANAGEMENT: AdvisorShares Investments, LLC serves as the Advisor to the Fund. Sunrise Capital Partners LLC serves as the Sub-advisor to the Fund.