Four of Six IQHedge Indexes Higher in May, Led by Merger Arb

Jun 23 2016 | 6:01pm ET

Volatility helped Investable hedge fund replication indices from IndexIQ post broadly positive performance in May, according to new data.
 
Of the firm’s six absolute return indexes, four were positive, led by a 1.31% return for the IQ Merger Arbitrage Index, and two showed negative returns.
 
Index returns through May 31 were as follows:

    1 Mo. YTD 1 Year
IQ Hedge Multi-Strategy IQHGMS -0.08% 2.20% -1.67%
IQ Hedge Market Neutral IQHGMN 0.01% 2.76% 1.17%
IQ Hedge Global Macro IQHGMA -0.25% 1.37% -2.59%
IQ Hedge Event Driven IQHGED 0.55% 2.47% -0.96%
IQ Hedge Long/Short IQHGLS 0.72% 2.63% -1.99%
IQ Merger Arbitrage IQMNA 1.31% 3.31% 1.17%
 
“Volatility has been growing over the last couple of months, which is broadly good for hedge funds,” said Adam Patti, CEO at IndexIQ. “There are enough uncertainties looming over the markets to keep things interesting through the summer as we can see from the drama surrounding the Brexit vote.”
 
Designed as investable benchmarks that replicate the performance characteristics of sophisticated hedge fund strategies, the IQ Hedge series of indexes were originally introduced in 2007. They are now used as the basis of investment products worldwide, as well as benchmarks for advisors and hedge fund managers. 
 
Rye, NY-based IndexIQ, bought by the asset management arm of insurance company New York Life in December 2014, is an issuer of liquid alternative products offered as indexes, ETFs, mutual funds, SMAs and model portfolios.

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