RYE BROOK, N.Y., Jan. 18, 2017 /PRNewswire/ -- IndexIQ, the leading provider of innovative investment solutions, today announced the December performance of its family of IQ Hedge(TM) Indexes and the updated holdings in the firm's IQ Merger Arbitrage ETF (NYSE Arca: MNA).
Five of the six IndexIQ Hedge Indexes were up strongly for the month, led by a rise of +1.72 percent in the IQ hedge Long/Short Index, as markets rallied heading into the end of the year. The lone decliner for the period was the IQ Hedge Global Macro Index, down -0.11 percent.
"The markets started to behave more rationally in December, as the surge following the election of Donald Trump gave way to a less emotional assessment of the prospects for interest rates and the economy over the coming year," said Salvatore Bruno, IndexIQ's Chief Investment Officer. "The results were broadly positive for hedge funds, with most of the indexes showing strong returns for the period."
Designed as investable benchmarks that replicate the performance characteristics of sophisticated hedge fund strategies, the IQ Hedge Indexes comprise the first family of investable benchmark indexes covering hedge fund replication/alternative beta strategies. IQ Hedge Index returns for the period ended December 31, 2016 were as follows:
IQ Hedge Indexes
----------------
1 3 YTD 1 3 5
Month Month Year Year Year
IQ Hedge Multi-Strategy Index IQHGMS 0.79% -1.82% 2.01% 2.01% 1.66% 3.17%
IQ Hedge Market Neutral Index IQHGMN 0.64% -0.62% 3.54% 3.54% 1.80% 2.57%
IQ Hedge Global Macro Index IQHGMA -0.11% -2.35% 2.12% 2.12% -0.64% 0.41%
IQ Hedge Event Driven Index IQHGED 0.83% -0.85% 6.35% 6.35% 3.72% 5.19%
IQ Hedge Long/Short Index IQHGLS 1.72% 0.45% 5.98% 5.98% 2.92% 5.94%
IQ Merger Arbitrage Index IQMNA 0.83% 0.79% 5.63% 5.63% 4.70% 5.04%
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The latest updates to MNA's holdings, including recent additions and deletions, can be found here:
Additions to the IQ Merger Arbitrage Index
Target Acquirer Target Target Announce Added
Name Name Sector Country Date Date
---- ---- ------ ------- ---- ----
Accordia Golf Co., Ltd. MBK Partners, Ltd. Consumer Discretionary Japan 11/29/2016 01/05/2017
Allied World Assurance Co. Holdings AG Fairfax Financial Holdings Ltd. Financials United States 12/18/2016 01/05/2017
CLARCOR, Inc. Parker-Hannifin Corp. Industrials United States 12/01/2016 01/05/2017
InvenSense, Inc. TDK Corp. Information Technology United States 12/21/2016 01/05/2017
Linde AG Praxair, Inc. Materials Germany 11/29/2016 01/05/2017
NeuStar, Inc. Neustar, Inc. /Private Group/ Information Technology United States 12/14/2016 01/05/2017
Stillwater Mining Co. Sibanye Gold Ltd. Materials United States 12/09/2016 01/05/2017
Vascular Solutions, Inc. Teleflex, Inc. Health Care United States 12/02/2016 01/05/2017
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Deletions from the IQ Merger Arbitrage Index since last rebalance
Target Acquirer Announce Added Deal
Name Name Sector Country Date Date Result
------ ------- ---- ---- ------
LinkedIn Corp. Microsoft Corp. Information Technology United States 06/13/2016 07/06/2016 Completed
SAI Global Ltd. Baring Private Equity Partners Group LLP Industrials Australia 09/26/2016 10/05/2016 Completed
China High Speed Transmission Equipment Group Co., Ltd. Fullshare Holdings Ltd. Utilities Hong Kong 09/19/2016 12/05/2016 Completed
Virgin America, Inc. Alaska Air Group, Inc. Industrials United States 04/04/2016 05/04/2016 Completed
St. Jude Medical, Inc. Abbott Laboratories Health Care United States 04/28/2016 05/04/2016 Completed
PrivateBancorp, Inc. Canadian Imperial Bank of Commerce Financials United States 06/29/2016 07/06/2016 Max Age
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About IndexIQ
IndexIQ is a pioneer and leading provider of innovative investment solutions focused on absolute return, real assets, international and fixed income strategies. IndexIQ's solutions are offered as ETFs, mutual funds, separately managed accounts, and ETF model portfolios. The company's philosophy is to democratize investment management by providing all investors with cost-effective access to the types of high-quality, sophisticated investment products that typically have been reserved for institutional and ultra high-net-worth investors. IndexIQ's mission is to take indexing to the next level by combining the best attributes of both passive and active investing, and make strategies available to investors in low cost, liquid, and transparent products*. IndexIQ is an indirect, wholly-owned subsidiary of New York Life Insurance Company.
Additional information about IndexIQ and its products can be found at IQetfs.com.
For more ETF market insights, click here.
* The nature of IndexIQ's products allows for these potential benefits, which typically are not associated with traditional hedge funds.
ETF PERFORMANCE: The performance data quoted above represents past performance. Past performance is not a guarantee of future results. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. Fund returns reflect dividends and capital gains distributions. Fund performance current to the most recent month-end is available by calling 1-888-934-0777 or by visiting IQetfs.com.
IQ Merger Arbitrage ETF (MNA) Risk Discussion: Certain of the proposed takeover transactions in which the Fund invests may be renegotiated, terminated or involve a longer time frame than originally contemplated, which may negatively impact the Fund's returns. The Fund's investment strategy may result in high portfolio turnover, which, in turn, may result in increased transaction costs to the Fund and lower total returns. The Fund is susceptible to foreign securities risk - since the Fund invests in foreign markets, it will be subject to risk of loss not typically associated with domestic markets, including currency transaction risk. Diversification does not eliminate the risk of experiencing investment losses. Stock prices of mid and small capitalization companies generally are more volatile than those of larger companies and also more vulnerable than those of larger capitalization companies to adverse economic developments. The Fund is non-diversified and is susceptible to greater losses if a single portfolio investment declines than would a diversified fund. The ETF should be considered a speculative investment with a high degree of risk, does not represent a complete investment program and is not suitable for all investors.
About Risk: Certain of the proposed takeover transactions in which the Fund invests may be renegotiated, terminated or involve a longer time frame than originally contemplated, which may negatively impact the Fund's returns. The Fund's investment strategy may result in high portfolio turnover, which, in turn, may result in increased transaction costs to the Fund and lower total returns. The Fund is susceptible to foreign securities risk - since the Fund invests in foreign markets, it will be subject to risk of loss not typically associated with domestic markets, including currency transaction risk. Diversification does not eliminate the risk of experiencing investment losses. Stock prices of mid and small capitalization companies generally are more volatile than those of larger companies and also more vulnerable than those of larger capitalization companies to adverse economic developments. The Fund is non-diversified and is susceptible to greater losses if a single portfolio investment declines than would a diversified fund. The ETF should be considered a speculative investment with a high degree of risk, does not represent a complete investment program and is not suitable for all investors. Alternative investment/strategies are speculative, not suitable for all clients, an intended for experienced and sophisticated investors who are willing to bear the high economic risks of the investment. Funds that invest in bonds are subject to interest-rate risk and can lose principal value when interest rates rise. Investors cannot invest in an index.
Consider the Funds' investment objectives, risks, and charges and expenses carefully before investing. The prospectus and the statement of additional information include this and other relevant information about the Funds and are available by visiting IQetfs.com or calling 888-934-0777. Read the prospectus carefully before investing.
IndexIQ(®) is the indirect wholly owned subsidiary of New York Life Investment Management Holdings LLC. ALPS Distributors, Inc. (ALPS) is the principal underwriter of the ETFs. NYLIFE Distributors LLC is a distributor of the ETFs and the principal underwriter of the IQ Hedge Multi-Strategy Plus Fund. NYLIFE Distributors LLC is located at 30 Hudson Street, Jersey City, NJ 07302. ALPS Distributors, Inc. is not affiliated with NYLIFE Distributors LLC. NYLIFE Distributors LLC is a Member FINRA/SIPC.
(*)IndexIQ's ETF holdings are available daily on IndexIQ's website. Brokerage commissions apply to ETFs. ETFs are liquid in that they are exchange-traded.
Index performance does not reflect charges and expenses associated with the Funds or brokerage commissions associated with buying and selling ETF shares. One cannot invest directly in an index.
Liquid alternatives are alternative investment strategies that are available through vehicles that provide daily liquidity, such as mutual funds and ETFs.
For additional information, please contact:
Chris Sullivan/Mike MacMillan Allison Scott
MacMillan Communications New York Life Insurance
(212) 473-4442 (212) 576-4517
chris@macmillancom.com allison_scott@newyorklife.com
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SOURCE IndexIQ
