A new exchange-traded fund based on the economic forecasting and demographic research of author and money manager Harry Dent will officially launch on Wednesday, according to its managers.

As reported last week, the AdvisorShares Dent Tactical ETF (NYSEArca: DENT) has been given a greenlight by regulators. That came after the fund first proposed in March to the Securities and Exchange Commission coming out with an ETF based on Dent's quantitative-based investment methodology.

(See related Q&A with Dent on his approach and current views of the market here.)

"We got all of the final details finished on Tuesday and we're ready to launch on Wednesday," said Rodney Johnson, president of HS Dent Investment Management in an interview from the firm's headquarters in Tampa Bay, Fla.

The ETF will start with $500,000 in seed money, added Johnson, who also serves as co-manager of DENT. "But with ETFs it really doesn't matter because creation units can be added at any point," said Johnson.

The ETF-of-ETFs will have a flexible mandate to be able to hold large levels of cash. In this case,  the fund's managers expect to primarily use the SPDR 1-3 Month Treasury Bill (NYSEArca: BIL) to replicate cash positions.

"We've been running this strategy in a variable annuity since May 2008, and we've been in cash four times since its inception," said Johnson.

The ETF will start with no allocation to BIL. "We're using a relative strength model. Even though the market feels like it's slowing down, our model won't make that move until a shift shows itself in actual momentum factors included in our methodology," said Johnson.

About 20 percent of the ETF will open with technology investments in funds such as the PowerShares QQQ (NasdaqGM: QQQQ). Another big sectior will be Asia ex-Japan (around 20 percent) through ETFs such as the iShares MSCI Pacific ex-Japan (NYSEArca: EPP).

DENT will also hold, at least initially, big chunks of domestic as well as international small-cap- focused ETFs, according to Johnson.

Complete holdings for the ETF will be posted each day at the AdvisorShares Web site, which, along with BNY/Mellon, sponsors the fund.

The annual expense ratio of DENT is expected to wind up at 1.56 percent, which includes the underlying ETF expense ratios along with a 0.95 percent management fee.