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UBS teams up with HFR to roll out UCITS-compliant ETF


Date: Wednesday, December 29, 2010
Author: Hedgeweek

Swiss bank UBS AG has teamed up with US-based Hedge Fund Research, a market leader in hedge fund analytics and indexation, to launch a UCITS-compliant ETF. Based on HFR’s HFRX Index, which uses a UCITS III methodology to calculate daily, monthly and YTD returns for hedge funds globally, the UBS ETFs plc – HFRX Global Hedge Fund Index SF is the world’s first ETF to use such a standard investable benchmark. The fund’s “SF-I” share class was officially listed on the Deutsche Boerse Exchange on 3rd December 2010 for qualified investors but additional share class listings are anticipated over the coming weeks. The HFRX Global Hedge Fund Index has been running since 1998 and has long been considered the industry standard for investable hedge fund indices. The decision to partner up for this ETF is expected to compliment the core strengths of both institutions. Nicolas Samaran, Executive Director, Fund Derivatives Structuring Group at UBS said that they were delighted to bring the UBS plc ETF-HFRX Global Hedge Fund Index [sic] to the market. “This is a unique opportunity for investors to access the world-leading hedge fund benchmark in a liquid, exchange-traded, UCITS compliant form,” added Samaran. Kenneth J. Heinz (pictured), President of HFR, said: “The construction and versatility of the ETF enables it to be used broadly by both institutional and retail investors to obtain hedge fund exposure efficiently.”