ProShares [see profile] plans to roll out ads within the next couple of weeks featuring its new themeline, "The Alternative ETF Company." The ads, created in-house, will appear in advisor-focused publications.

Steve Cohen ProShares Managing Director

The new tagline, which now appears on ProShares' Web site, replaces the one that the Bethesda, Maryland-based firm had since 2006, "ETFs, Chapter Two."

"We're closing the book on that chapter," said ProShares managing director Steve Cohen of the old tagline. "This is a new chapter for us, an expansion of what we've been doing."

ProShares made its name as a manager of leveraged and inverse funds. Last year, it took its first step beyond leveraged and inverse-oriented products with the launch of the ProShares Credit Suisse 130/30 ETF. Then last week, it rolled out a new ETF called ProShares RAFI Long/Short, for which it partnered with Research Affiliates' Rob Arnott.

The launch of the new themeline coincides with the launch of the new product.

Explaining the choice of themeline, Cohen said: "We're the fifth largest ETF manager. We're not looking to compete with the three largest firms in the plain vanilla area."

"We're focused on serving specific investment needs," said Cohen, who runs the strategy group. "The new themeline is a way of continuing to distinguish ourselves as a different type of ETF company." 

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