Van Eck Acquires Lyster Watson Beta Indices

Jul 19 2012 | 10:29am ET

Van Eck Associates has bought Lyster Watson's hedge fund beta business.

Terms of the deal were not disclosed. Van Eck will call its suite of hedge fund beta indices Trackers; two are already available as investment products.

Those two strategies, North American and emerging markets long/short equity, currently have more than $75 million in assets under management. Trackers indices also cover Western Europe, developed Asia and global long/short strategies and event-driven equity. Only strategies that can be statistically replicated by U.S.-listed exchange-traded funds are included.

"We're very excited to add the Hedge Fund Beta Team and its sophisticated methodology to our alternatives group," said Jan van Eck. "Their innovative approach to tracking hedge fund performance is a great fit with our existing alternative strategies and is an approach we believe has applications for investors looking to build and manage a diversified alternative investment portfolio."

The Tracker suite is managed by Marc Freed, Mark Hurrell and Ben McMillan.

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