Jesse Emspak discusses a new mutual fund that tracks the hedge fund market in his recent Investor’s Business Daily article, “NEW ETF Tracks Index Based on Hedge Funds”.
The IQ Alpha Hedge Strategy Fund was launched by IndexIQ, a New York firm. The fund tracks the IQ Alpha Hedge Index, which tries to replicate the returns of the following six hedge fund strategies: long/short, global macroeconomic, fixed-income arbitrage, event-driven, emerging markets, and market neutral. The weight of each strategy is rules based; the fund is not actively managed.
Since the hedge fund index went live in October, it has fallen 1.61% while the S&P 500 has declined 21%.
You can view the entire article here.