|UBS Lists Hedge Fund Strategy ETFs|
|June 18, 2012 11:20 (CET)|
UBS has launched four new ETFs offering exposure to individual hedge fund strategies, based on indices supplied and calculated by Hedge Fund Research.
The UBS HFRX equity hedge index, HFRX event-driven index, HFRX macro CTA index and HFRX relative value arbitrage index ETFs were listed on the German Stock Exchange on Friday 15 June and carry individual total expense ratios of 1.5% a year. Management and performance fees will also be payable on the hedge funds underlying each index.
The ETFs use funded swaps to track their indices and have a base currency of euro.
The HFRX equity hedge index tracks funds investing primarily in equities and equity derivatives, taking both long and short positions.
UBS has been operating an ETF offering exposure to the headline HFRX global hedge fund index since October 2010. The fund has €72 million under management and has lost 8% since inception.