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Portfolio > ETFs

Top Portfolio Products: IndexIQ Adds 2 Liquid Alt ETFs

By Marlene Y. Satter

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New products and changes introduced over the last week include two ETFs from IndexIQ and a long-short hedge fund from Coral Gables Asset Management.

Also, Highland Capital Management has launched an alternative investment platform.

Here are the latest developments of interest to advisors:

1) IndexIQ Launches Two ETFs

IndexIQ has announced the launch of the IQ Hedge Long/Short Tracker ETF (QLS) and the IQ Hedge Event-Driven Tracker ETF (QED).

QLS attempts to replicate, before fees and expenses, the risk-adjusted return characteristics of the IQ Hedge Long/Short Index, which seeks to mirror the collective returns of hedge funds using a long/short equity investment style.

QED seeks to replicate, before fees and expenses, the risk-adjusted return characteristics of the IQ Hedge Event-Driven Index, which is intended to capture the collective returns of hedge funds using an event-driven investment style.

2) Coral Gables Asset Management Adds Long-Short Hedge Fund

Coral Gables Asset Management has announced that it has launched a hedge fund with a long-short trading strategy and seeks to exploit short-term and medium-term trading opportunities in the U.S. equities market.

Jawad Addoum is the portfolio manager for the fund, which uses quantitative strategies based on geographical information dispersion and industry-level political sensitivity to generate risk-adjusted returns for investors.

3) Highland Capital Management Launches Highland Alternative Investors

Highland Capital Management has announced the launch of Highland Alternative Investors, an alternative-investment platform that will encompass all of Highland’s existing nontraditional, liquid alternative funds.

In addition to his existing roles, Michael Gregory will oversee the new platform as global head and CIO of Highland Alternative Investors.

Read the March 22 Portfolio Products Roundup at ThinkAdvisor.

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