IndexIQ: Hedge Fund Replication Post Mostly Modest Gains in August

Sep 16 2016 | 6:46pm ET

Five of six investable hedge fund replication indices from IndexIQ posted positive performances during August, although the gains were minor in what was a generally quiet period. 

Gainers were led by the IQ Hedge Merger Arbitrage Index, which was up 1.12%, while the only measure in the red for the month was the The IQ Hedge Multi-Strategy Index, which lost -0.06%.

Index returns through August 31, 2016 were as follows:

Name Ticker  1 Month YTD 1 Year
IQ Hedge Multi-Strategy  IQHGMS -0.06% 3.83% 2.69%
IQ Hedge Market Neutral  IQHGMN 0.09% 4.34% 3.49%
IQ Hedge Global Macro  IQHGMA 0.40% 3.68% 4.02%
IQ Hedge Event Driven  IQHGED 0.29% 6.57% 7.03%
IQ Hedge Long/Short  IQHGLS 0.54% 5.47% 4.76%
IQ Merger Arbitrage  IQMNA 1.12% 3.57% 3.49%
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.
“August was generally slow, as concerns over BREXIT continued to fade,” commented Adam Patti, CEO of IndexIQ, in a statement. “With the summer coming to an end, the market is likely to focus again on the potential for an increase in the Federal funds rate, and the impact that will have on credit spreads and the dollar. It may be that the time of relative quiet is drawing to an end.”
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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