IndexIQ, a New York Life Investments Company, today announced that it has entered into an agreement with Precidian Investments LLC (“Precidian”) to license Precidian’s ActiveShares® structure.
“Our core commitment is to bring-to-market innovative strategies and structures that align with our clients’ investment goals,” said Jon Zimmerman, Chief Operating Officer at IndexIQ. “We look forward to leveraging the ActiveShares structure to continue offering our clients the breadth, depth, and time-tested expertise of New York Life Investments boutiques in the cost-effective structure of ETFs.”
IndexIQ’s current ETF line-up consists of 24 ETFs, headlined by its liquid alternative offerings, as well as strategies in the equity, fixed-income, asset allocation, and active municipal bond asset classes. IndexIQ most recently launched an active fixed-income ETF led by NYL Investors: the IQ Ultra Short Duration ETF (Ticker: ULTR). IndexIQ also offers two additional actively managed municipal bond strategies managed by New York Life Investments boutique MacKay Shields: IQ MacKay Municipal Insured ETF (Ticker: MMIN) and IQ MacKay Municipal Intermediate ETF (Ticker: MMIT).
IndexIQ joins other leading asset managers in licensing Precidian’s intellectual property. Precidian’s ActiveShares® structure seeks to combine the most beneficial aspects of the traditional mutual fund with the efficiencies and flexibilities of an ETF. The patented ETF structure seeks to provide asset managers with the ability to generate alpha without daily disclosure of their proprietary strategies while simultaneously creating significant improvements in tax efficiency, manager flexibility and lower operating costs. Investors also can enjoy significant benefits associated with intraday access to their money through transactions on regulated exchanges.
IndexIQ, a New York Life Investments Company, is a global provider of exchange-traded funds (ETFs), with a decade of offering highly differentiated and innovative long-term solutions to retail and institutional investors. With assets under management of $4.1 billion, IndexIQ leverages the first-class asset management capabilities of New York Life Investments’ multi-boutique platform into its suite of offerings which include: fixed income, equities, alternatives and specialty asset classes.
About Precidian Investments
Precidian Investments is an industry leader in the creation of innovative financial products, specializing in exchange-traded fund (ETF) and mutual fund development, and associated trading and pricing technologies. Precidian designs and develops next-generation tools for the mutual fund industry, ETF providers and leading financial services institutions to meet the needs of today’s more sophisticated investors. Expertise in product development, trading, clearance, sales, technology, and securities law enables Precidian to more efficiently design and build cutting-edge financial instruments.
New York Life Investments