New products and changes introduced over the last week include a change in name and objective for one of Van Eck Global’s funds and the launch of another; an impact investing platform from Incapital; and a fund launch from Deutsche Asset & Wealth Management.
Also, New York Life Investment Management announced that it will acquire IndexIQ and ActiFi and Advisor Impact introduced a client engagement program.
Here are the latest developments of interest to advisors:
1) New York Life Investment Management to Acquire IndexIQ
Upon closing of the transaction, IndexIQ will be integrated into NYLIM and marketed through New York Life’s MainStay Investments platform. The transaction is expected to close in the first half of 2015.
2) Van Eck Global Changes One Fund Name, Objective and Launches Another
Van Eck Global has announced that the Van Eck Long/Short Equity Fund has been renamed the Van Eck Long/Short Equity Index Fund. Along with the name change has come a change in objective, with the new focus to track, before fees and expenses, the performance of the Market Vectors North America Long/Short Equity Index (the MVLSNATR Index).
Van Eck also launched the Variable Insurance Portfolio (VIP) Long/Short Equity Index Fund, an investment option available within variable annuity contracts. It also tracks the MVLSNATR Index, which implements a rules-based methodology that is designed to identify and reflect the long-term themes of a select peer group of North America-focused long/short equity hedge funds.
3) Incapital Launches Legacy Impact Investing Platform