Great coverage of $HFND from @pensionsnews @KathieOD_PI. A thread of some highlights:
$HFND "seeks to create a portfolio that has return characteristics similar to the hedge fund industry's returns before fees"
pionline.com/exchange-trade…
$HFND "seeks to create a portfolio that has return characteristics similar to the hedge fund industry's returns before fees"
pionline.com/exchange-trade…
"We believe that this ETF, which replicates the returns of the hedge fund industry, provides a low-cost alternative for any investor who is putting money in hedge fund-type products,"
"The new ETF uses a propriety machine learning algorithm to create a portfolio that best matches the most recent month's returns of each major hedge fund style"
"Investors could include both retail and institutional investors such as pension funds, 'many of whom are facing enormous fee pressure and are struggling to rationalize paying 2 and 20 to hedge fund managers'"
"The ETF wrapper is 'the best structure for the investor,' Mr. Elliott said. 'It's low-cost, it's liquid, it's transparent and it's tax efficient,' he said. 'And so that's why we chose (to develop) our products in the ETF form as opposed to other forms.' #ETF
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