New products and changes introduced recently include a suite of ETFs from IndexIQ, a family of tradable equity indexes from Barclays and Roubini Global Economics, and a strategic partnership between Barclays and Elkhorn Capital Group.
Also, Scientific Beta added a stock universe; MetLife introduced a qualified longevity annuity contract and tru Independence partnered with TruClarity to provide operational support.
Here are the latest developments of interest to advisors:
1) IndexIQ Adds Suite of ETFs
IndexIQ, in partnership with MainStay Investments, has launched a suite of ETFs: the IQ 50 Percent Hedged FTSE International ETF (HFXI), IQ 50 Percent Hedged FTSE Europe ETF (HFXE) and IQ 50 Percent Hedged FTSE Japan ETF (HFXJ). In each ETF, approximately half of the respective index exposure is hedged against the U.S. dollar on a monthly basis.
HFXI seeks to track the performance of the FTSE Developed ex-North America 50% Hedged to USD Index, which is made up primarily of large- and mid-cap companies in Europe, Australasia and the Far East; HFXE seeks to track the performance of the FTSE Developed Europe 50% Hedged to USD Index, which is made up of equities from 17 developed European countries; and HFXJ seeks to track the performance of the FTSE Japan 50% Hedged to USD Index, which is made up of Japanese equities.
2) Barclays Bank, Roubini Partner on Tradable Equity Indexes
Barclays Bank PLC and Roubini Global Economics have announced the launch of the Roubini Barclays Country Indices, based on the Roubini Country Insights model.
The indices, co-developed by Roubini Global Economics and Barclays’ equity and funds structured markets investment strategies group, aim to provide enhanced beta exposure by notionally allocating exposure, while considering liquidity, in a systematic manner to equity benchmark indexes in countries that the Roubini Country Insights model perceives to be the most fundamentally sound. The indexes will be available in four versions: All-World, Developed Markets, Developed Markets ex-North America and Emerging Markets.
3) Barclays Partners with Elkhorn Capital Group
Barclays has announced a strategic partnership with Elkhorn Capital Group that will allow Barclays and Elkhorn to collaborate in offering clients access to additional products based on Barclays’ strategies.