Highland
Capital Management Fund Advisors L.P. (“Highland”) announces the
launch of three new exchange-traded funds (“ETFs”) that leverage the
industry-leading indices and research from HFR (Hedge Fund Research,
Inc.). The three ETF products designed in collaboration with HFR will be
the first of their kind to replicate aggregate hedge fund positions in
an ETF and will trade on the New York Stock Exchange, with trading
commencing today.
The three new ETFs represent the firm’s continued expansion of its
alternative beta product suite and mark the first of 17
new ETFs for the firm. The three initial ETFs are:
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Highland HFR Global ETF (NYSE: HHFR)
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Highland HFR Event Driven ETF (NYSE: DRVN)
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Highland HFR Equity Hedge ETF (NYSE: HEDG)
“The launch of these three ETFs further demonstrates Highland’s
commitment to pursuing alternative beta solutions,” said Ethan Powell,
Chief Product Strategist for Highland. “We believe that our
collaboration with HFR on these new products illustrates Highland’s
dedication to delivering tailored products to meet investor demands.”
In conjunction with the recently launched Highland
Alternative Investors platform, the launch of these funds
underscores Highland’s expanding efforts to offer differentiated
strategies at a competitive price.
“With more than $320 million already invested in our first ETF, SNLN, we
believe there is market appetite for alternative income and uncorrelated
alternative beta products that satisfy investors’ concerns over interest
rate and equity volatility,” explained Powell.
“ETFs are a cost-effective option for investors looking to benefit from
exposure to alternative investment strategies,” said Kenneth Heinz,
President of HFR, the established global leader in the indexation,
analysis and research of the global hedge fund industry. “We’re excited
to combine HFR’s expertise in indexing and research with Highland’s
experience in creating and marketing investment strategies to offer
these innovative new investment products.”
About Highland Capital Management
Highland Capital Management, L.P. is an SEC-registered investment
adviser which, together with its affiliates, has approximately $21
billion of assets under management. Founded in 1993 by James
Dondero and Mark
Okada, Highland is one of the largest and most experienced global
alternatives, credit and equity managers and has been instrumental in
providing alternative investment solutions for over 20 years. Highland
invests across a variety of asset classes and structures within the
alternative landscape including hedge funds, separate accounts,
distressed and special situations private equity, collateralized loan
obligations (CLOs), mutual funds and ETFs. Highland’s diversified client
base includes wealth managers, public pension plans, foundations,
endowments, corporations, financial institutions, fund of funds,
governments, and high net-worth individuals. Our firm is headquartered
in Dallas, Texas and maintains offices in New York, São Paulo,
Singapore, and Seoul.
Follow Highland on Twitter: @HighlandCapMgmt
About HFR®
HFR (Hedge Fund Research, Inc.) is the global leader in the alternative
investment industry, specializing in the indexation and analysis of
hedge funds. Established in 1992, HFR produces the HFRI, HFRX and HFRU
Indices, the industry’s most widely used benchmarks of global hedge fund
performance. HFR calculates over 100 indices of hedge fund performance
ranging from industry-aggregate levels down to specific, niche areas of
sub-strategy and regional investment focus. HFR Database, a
comprehensive resource available for hedge fund investors, includes
fund-level detail on historical performance and assets, as well as firm
characteristics on both the broadest and most influential hedge fund
managers. For the hedge fund industry’s leading investors and hedge fund
managers, Hedge Fund Research is The Institutional Standard.
Follow HFR on Twitter: @HFRINC
Follow HFR on Weibo: @HFRASIA
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