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Top Portfolio Products: IndexIQ Launches 3 Hedged ETFs

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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.

The partnership is designed to extend Barclays’ product availability by bringing together its track record in creating investment concepts with Elkhorn’s product expertise.

4) Scientific Beta Adds Stock Universe

Scientific Beta has announced the addition of an extended U.S.A. 1,000-stock universe for its multibeta multistrategy and smart factor indexes.

The Extended United States of America universe consists of large- and mid-capitalization stocks from the USA, selected by free-float-adjusted market capitalization and subject to a liquidity screen. The universe contains a fixed number of 1,000 constituents.

5) MetLife Adds QLAC

MetLife has announced the introduction of its Guaranteed Income Builder deferred income annuity as a qualifying longevity annuity contract (QLAC) for individual clients.

When a client purchases Guaranteed Income Builder as a QLAC, the portion of their IRA balance that they used to buy it is excluded from the funds used to calculate the required minimum distributions (RMDs) they are required to take beginning at age 70½. Clients can then begin income payments at a chosen start date, which can be as late as age 85.

6) tru Independence Partners with TruClarity

Wealth management consulting and services platform tru Independence has announced that it will provide its back-office technology and consulting platform to independent advisor incubator TruClarity.

Among the services tru Independence will provide are business formation and analysis, compliance and broker protocols, office procurement, a technology platform, access to premier service providers (including custodians and research), marketing, branding and launch support.

— Read the July 17 Portfolio Products Roundup on ThinkAdvisor.