11.13.09
Merger Arbitrage ETF to debut
A merger-arbitrage ETF is coming to town, ticker MNA. It should start trading in a month or so. With expenses of 0.75%, this looks like a nice addition to portfolios.
IndexIQ, a pioneer in the area of hedge fund and inflation hedge ETFs, is preparing to launch another fund, the IQ ARB Merger Arbitrage ETF. The fund is scheduled to begin trading later this month under the clever ticker MNA. The proposed ETF will track the IQ ARB Merger Arbitrage Index, a strategy that involves investing in global companies for which there has been a public announcement of a takeover. The index also includes short exposure to global equities as a partial equity market hedge.
Read more here.
Disclosure: No positions.