IndexIQ
a pioneer and leading provider of innovative investment solutions, today
announced the mergers and acquisitions (M&A) deals to which investors
can gain exposure in the IQ Merger Arbitrage ETF (Ticker: MNA).
MNA was the industry’s first exchange-traded fund (ETF) to give
investors exposure to global corporate M&A activity, which has been
rapidly increasing.
As of February 3, 2016, the deals that were added to and removed from
the IQ Merger Arbitrage ETF are as follows:
M&A Deals Added to the MNA ETF
Target
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Acquirer
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Target
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Target
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Announce
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Added
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Name
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Name
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Sector
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Country
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Date
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Date
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Atmel Corp.
|
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Microchip Technology, Inc.
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Information Technology
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United States
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01/13/2016
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02/03/2016
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FirstMerit Corp.
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Huntington Bancshares, Inc.
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Financials
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United States
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01/26/2016
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02/03/2016
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Progressive Waste Solutions Ltd.
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Waste Connections, Inc.
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Industrials
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Canada
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01/19/2016
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02/03/2016
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RealD, Inc.
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Rizvi Traverse Management LLC
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Information Technology
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United States
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11/09/2015
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02/03/2016
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Showa Shell Sekiyu KK
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Idemitsu Kosan Co., Ltd.
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Energy
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Japan
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11/12/2015
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02/03/2016
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Starwood Hotels & Resorts Worldwide, Inc.
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Marriott International, Inc.
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Consumer Discretionary
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United States
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11/16/2015
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02/03/2016
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M&A Deals Removed from the MNA ETF
Target
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|
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Acquirer
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|
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Announce
|
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Added
|
|
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Deal
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Name
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Name
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Sector
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Country
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Date
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Date
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Result
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PMC-Sierra, Inc.
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Microsemi Corp.
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Information Technology
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United States
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10/19/2015
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11/05/2015
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Completed
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Boulder Brands, Inc.
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Pinnacle Foods, Inc.
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Consumer Staples
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United States
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11/24/2015
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12/03/2015
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Completed
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Dyax Corp.
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Shire Plc
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Health Care
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United States
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|
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11/02/2015
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12/03/2015
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Completed
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UTi Worldwide, Inc.
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DSV A/S
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Industrials
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United States
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10/09/2015
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01/06/2016
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Completed
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BioMed Realty Trust, Inc.
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The Blackstone Group LP
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Financials
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|
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United States
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10/08/2015
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11/05/2015
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Completed
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MedAssets, Inc.
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Pamplona Capital Management LLP
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Health Care
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United States
|
|
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11/02/2015
|
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01/06/2016
|
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Completed
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Precision Castparts Corp.
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Berkshire Hathaway, Inc.
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Industrials
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United States
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08/10/2015
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09/03/2015
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Completed
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Symetra Financial Corp.
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Sumitomo Life Insurance Co.
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Financials
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|
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United States
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|
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08/11/2015
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09/03/2015
|
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Completed
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The Pep Boys-Manny Moe & Jack
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Icahn Enterprises LP
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Consumer Discretionary
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United States
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12/07/2015
|
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11/05/2015
|
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Completed
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Meredith Corp.
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Media General, Inc.
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Consumer Discretionary
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United States
|
|
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09/08/2015
|
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01/06/2016
|
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Terminated
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Rexam Plc
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Ball Corp.
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Materials
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United Kingdom
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02/05/2015
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03/04/2015
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Max Age
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Merger Arbitrage funds typically have the potential to benefit from
buying target companies below the target price. The “spread” in price,
the difference between the target price and market price, can provide
investors opportunity for gains, especially if there are competitive
bids for a company. Given today’s relatively low corporate valuations
and the significant amount of cash on corporate balance sheets, industry
experts forecast a sustained high level of M&A activity.
The IQ Merger Arbitrage ETF seeks to track, before fees and expenses,
the performance of the IQ Merger Arbitrage Index. The Index seeks to
achieve capital appreciation by investing in global companies for which
there has been a public announcement of a takeover by an acquirer. This
approach is based on a passive strategy of owning certain announced
takeover targets with the goal of generating returns that are
representative of global merger arbitrage activity. The Index also
includes short exposure to global equities as a partial equity market
hedge.
The IndexIQ family of funds includes:
-
IQ Hedge Multi-Strategy Plus Fund (IQHIX – Class I Shares; IQHOX –
Class A Shares);
-
IQ Hedge Multi-Strategy Tracker ETF (NYSE Arca: QAI);
-
IQ Hedge Market Neutral Tracker ETF (NYSE Arca: QMN);
-
IQ Hedge Macro Tracker ETF (NYSE Arca: MCRO);
-
IQ Hedge Long/Short Tracker ETF (NYSE Arca: QLS);
-
IQ Hedge Event-Driven Tracker ETF (NYSE Arca: QED);
-
IQ Merger Arbitrage ETF (NYSE Arca: MNA);
-
IQ Leaders GTAA Tracker ETF (NYSE Arca: QGTA);
-
IQ 50 Percent Hedged FTSE International ETF (NYSE Arca: HFXI);
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IQ 50 Percent Hedged FTSE Europe ETF (NYSE Arca: HFXE);
-
IQ 50 Percent Hedged FTSE Japan ETF (NYSE Arca: HFXJ);
-
IQ Real Return ETF (NYSE Arca: CPI);
-
IQ US Real Estate Small Cap ETF (NYSE Arca: ROOF);
-
IQ Global Resources ETF (NYSE Arca: GRES);
-
IQ Global Agribusiness Small Cap ETF (NYSE Arca: CROP);
-
IQ Global Oil Small Cap ETF (NYSE Arca: IOIL);
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IQ Canada Small Cap ETF (NYSE Arca: CNDA); and,
-
IQ Australia Small Cap ETF (NYSE Arca: KROO).
About IndexIQ
IndexIQ is a pioneer and leading provider of innovative investment
solutions focused on absolute return, real assets, and international
strategies. IndexIQ’s solutions are offered as ETFs, mutual funds,
separately managed accounts, and ETF model portfolios. The company's
philosophy is to democratize investment management by providing all
investors with cost-effective access to the types of high-quality,
sophisticated investment products that typically have been reserved for
institutional and ultra high-net-worth investors. IndexIQ’s mission is
to take indexing to the next level by combining the best attributes of
both passive and active investing, and make strategies available to
investors in low cost, liquid, and transparent products*. IndexIQ is an
indirect, wholly-owned subsidiary of New York Life Insurance Company.
Additional information about IndexIQ and its products can be found at IQetfs.com.
* The nature of IndexIQ's products allows for these potential benefits,
which typically are not associated with traditional hedge funds.
Consider the Funds’ investment objectives, risks, and charges and
expenses carefully before investing. The prospectus and the statement of
additional information include this and other relevant information about
the Funds and are available by visiting IQetfs.com or calling
888-934-0777. Read the prospectus carefully before investing.
IndexIQ® is the indirect wholly owned subsidiary of New York
Life Investment Management Holdings LLC. ALPS Distributors, Inc. (ALPS)
is the principal underwriter of the ETFs. NYLIFE Distributors LLC is a
distributor of the ETFs and the principal underwriter of the mutual
fund. NYLIFE Distributors LLC is located at 169 Lackawanna Ave,
Parsippany, NJ 07054. ALPS Distributors, Inc. is not affiliated with
NYLIFE Distributors LLC. NYLIFE Distributors LLC is a Member FINRA/SIPC.
*IndexIQ’s ETF holdings are available daily on IndexIQ’s
website. Brokerage commissions apply to ETFs. ETFs are liquid in that
they are exchange-traded.
Index performance does not reflect charges and expenses associated with
the Funds or brokerage commissions associated with buying and selling
ETF shares. One cannot invest directly in an index.
Certain of the proposed takeover transactions in which the Fund
invests may be renegotiated, terminated or involve a longer time frame
than originally contemplated, which may negatively impact the Fund’s
returns. The Fund’s investment strategy may result in high portfolio
turnover, which, in turn, may result in increased transaction costs to
the Fund and lower total returns. The Fund is susceptible to foreign
securities risk – since the Fund invests in foreign markets, it will be
subject to risk of loss not typically associated with domestic markets,
including currency transaction risk. Diversification does not eliminate
the risk of experiencing investment losses. Stock prices of mid and
small capitalization companies generally are more volatile than those of
larger companies and also more vulnerable than those of larger
capitalization companies to adverse economic developments. The Fund is
non-diversified and is susceptible to greater losses if a single
portfolio investment declines than would a diversified fund. The ETF
should be considered a speculative investment with a high degree of
risk, does not represent a complete investment program and is not
suitable for all investors. Investors cannot invest in an index.
The IQ Hedge Multi-Strategy Plus Fund (IQ Fund), the IQ Hedge
Multi-Strategy Tracker ETF (IQ Multi-Strategy ETF), the IQ Hedge Market
Neutral Tracker ETF (QMN ETF), the IQ Hedge Long/Short Tracker ETF (QLS
ETF), the IQ Hedge Event-Driven Tracker ETF (QED ETF), and the IQ Macro
Tracker ETF (IQ Macro ETF) are not hedge funds and do not invest in
hedge funds. The IQ Hedge-Multi Strategy Plus Fund is a registered
open-end mutual fund that invests in exchange-traded funds (ETFs) and
similar securities in an attempt to replicate the performance
characteristics of certain hedge fund investing styles, but with less
cost, more liquidity, and greater portfolio transparency than
traditional hedge funds. There can be no assurance that the Funds’
investment strategies will be successful. The investment performance of
the IQ Multi-Strategy ETF, the QMN ETF, the IQ Macro ETF, the QLS ETF,
the QED ETF, and the IQ Real Return ETF (collectively, the IQ ETFs),
because they are funds of funds, depends on the investment performance
of the underlying ETFs in which they invest. There is no guarantee that
the IQ ETFs themselves, or each of the underlying ETFs in the Funds’
portfolios, will perform exactly as its underlying index. The IQ ETFs
are non-diversified and susceptible to greater losses if a single
portfolio investment declines than would a diversified mutual fund. The
IQ ETFs’ underlying ETFs invest in: foreign securities, which subject
them to risk of loss not typically associated with domestic markets,
such as currency fluctuations and political uncertainty; commodities
markets, which subject them to greater volatility than investments in
traditional securities, such as stocks and bonds; and fixed income
securities, which subject them to credit risk; the possibility that the
issuer of a security will be unable to make interest payments and/or
repay the principal on its debt; and interest rate risk; changes in the
value of a fixed-income security resulting from changes in interest
rates. Leverage, including borrowing, will cause some of the IQ ETF’s
underlying ETFs to be more volatile than if the underlying ETFs had not
been leveraged.
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