Alternative Investments/ESG: IndexIQ Launches High Yield And Equity ESG Funds
IndexIQ is a provider of exchange-traded funds (ETFs) with With $5.1 billion in assets under management as of December 31, 2021.
IndexIQ has launched the IQ MacKay ESG High Income ETF (IQHI) and the IQ Candriam ESG U.S. Mid Cap Equity ETF (IQSM). The funds expand further the firm’s existing lineup of ESG investment solutions. (Businesswire)
IQ MacKay ESG High Income ETF (IQHI)
This actively managed ETF tracks the Bloomberg Very Liquid High Yield Index, which seeks to maximize current income using the philosophy that strong risk-adjusted investment returns can be achieved by employing a strategy of seeking to eliminate uncompensated risk.
The strategy seeks to avoid companies with elevated ESG risks while favoring companies with strong and/or improving ESG attributes.
IQ Candriam ESG U.S. Mid Cap Equity ETF (IQSM)
This passively managed ESG focused strategy tracks the IQ Candriam ESG U.S. Mid Cap Equity Index. The index strategy, designed in collaboration between IndexIQ and Candriam, leverages Candriam’s proprietary ESG evaluation framework with a broadly diversified U.S. mid cap portfolio comprised of companies meeting ESG criteria developed by Candriam.
Kirk Lehneis, Chief Operating Officer of New York Life Investment Management (NYLIM) & President of IndexIQ ETFs, said: “The teams at MacKay Shields and Candriam are foremost in their fields and having their insights and unique approaches available to power our newest ETFs is a tremendous benefit to potential investors in these funds. IQHI is a unique solution that can help investors and advisors manage two of today’s biggest portfolio challenges: finding ways to add yield potential while also seeking to avoid potential pitfalls tied to ESG-related risks; while IQSM brings a compelling ESG-focused lens to the U.S. mid-cap category, an area of the equity market that is often underrepresented in investors’ portfolios.”
IndexIQ is the indirect wholly owned subsidiary of New York Life Investment Management Holdings LLC and serves as the advisor to the IndexIQ ETFs.
Related Story: New York Life Floats ETFs For Gender Equality, Clean Oceans, Cleaner Transport
Latest Alternative Investment News
FinTech: Klarna’s All-In Efforts To Achieve Profitability Getting Traction
Swedish fintech company Klarna achieved a significant improvement in its financial performance during the first quarter, as it halved its net loss compared to the same period last year. The…
Alternative Investments/AI: Euclidean Technologies Launches ETF For AI-Selected Value Stocks
Seattle-based investment advisor Euclidean Technologies Management has launched its first exchange-traded fund (ETF), the Euclidean Fundamental Value ETF (ECML US). The actively managed US equity fund utilizes artificial intelligence (AI)…
Venture Capital: Matrix Partners Raises $550M For Its Fourth India Fund
Matrix Partners India, a venture capital firm focused on investments in India, has announced the closure of its latest fund, securing over $550 million in commitments. This new fund from…
Artificial Intelligence: AI Helps Researchers Find A Compound To Kill The Drug-Resistant A. baumannii Bacterium
Scientists at MIT and McMaster University have used artificial intelligence (AI) to identify a new antibiotic that can combat drug-resistant infections caused by Acinetobacter baumannii. The bacterium is commonly found…