IndexIQ, a New York Life Investments Company and a leading provider of innovative investment solutions, proudly announces that the IQ Merger Arbitrage ETF (MNA) has surpassed USD1 billion in assets under management (AUM).
“When we launched MNA nearly a decade ago, we knew we were breaking new ground for ETF investors. To that point, there were no low cost, liquid, transparent means through which to add merger arbitrage exposure to a portfolio. That meant investors were missing the opportunity to add the risk mitigation and volatility dampening aspects that merger arb can provide,” says Sal Bruno, chief investment officer of IndexIQ.
“Merger arbitrage strategies have historically generated relatively stable returns, and global M&A activity remains robust. With global growth, Brexit and trade driving volatility into the markets, and in an uncertain interest rate environment, investors are looking for solutions to help them maintain market exposure while still managing downside participation.”
MNA joins IQ Hedge Multi-Strategy ETF (QAI), another IndexIQ ETF, as only the second liquid alternative ETF in the industry to have passed the $1 billion threshold.
“IndexIQ was founded with the belief that investment management needed to be democratised, allowing investors and advisors of all types to access institutional-quality strategies,” adds Jon Zimmerman, chief operating officer of IndexIQ. “It was a radical idea at the time, but we’re proud of the response that our family of ETFs has generated over the past 10 years, and we’re just as excited to continue to bring innovative new approaches to the marketplace.”