IndexIQ Leaps into the Asset Management Business

September 17, 2007 ( - IndexIQ has launched an asset management business that will be led by Austin "Gus" Fleites, the former Chief Investment Officer and head of Exchange Traded Funds (ETFs) at Pro Shares.

IndexIQ Advisors have seven investable funds that include hedge fund and exchange-traded fund products.

Fleites will be the president of IndexIQ Advisors. Fleites spent eighteen years with State Street Global Advisors (SSgA), starting as a portfolio manager and then later becoming department head for Asset Allocation Strategies, then head of Exchange-Traded Funds, and finally President of SSgA Funds Management, Inc.

The seven investable funds are derived from two product families HedgeIQ, a series of hedge fund replication solutions, and ETFIQ, a series of exchange-traded fund products, according to a news release.

The Four HedgeIQ strategies include:

  • HedgeIQTM Composite:   provides performance characteristics comparable to a fundof hedge fund strategy.
  • HedgeIQTM Long Short:   provides performance characteristics comparable to long/shorthedge fund styles.
  • HedgeIQTM Market Neutral:provides performance characteristics comparable tomarket neutral hedge fund styles.
  • HedgeIQTM Fixed Income Arbitrage:provides performance characteristicscomparable to fixed income arbitrage hedge fund styles.

Three ETFIQ strategies include:

  • ETFIQTM – Commodity Rotation:   seeks long-term capital appreciation and lowcorrelation to the broader market through rotating exposure to various commodities ETFs.
  • ETFIQTM – Country Rotation All World Ex-US:   seeks long-term capitalappreciation through rotating exposure to the universe of developed and emerging international equity markets, through country ETFs.
  • ETFIQTM – Country Rotation Developed Markets Ex-US:seeks long-term capital appreciation through rotating exposure to the universe of developed international equity markets through country ETFs.

Additional information about the company and its products can be found at .