Add another new exchange traded fund (ETF) provider to the list: an upstart has filed for exemptive relief with the Securities and Exchange Commission (SEC) for a line of mostly actively managed funds.

Matt Hougan for Index Universe says new ETF upstart FFCM LLC plans to initially launch an ETF of ETFs designed  “to outperform a major hedge fund index such as the Credit Suisse/Tremont Global Macro Index.”

Hougan says there’s not a lot of detail in the filing, but there’s some information about an aggressive 130/30 fund in there, as well as a range of follow-on products.

A 130/30 strategy involves shorting poor-performing stocks and buying stocks that are anticipated to have high returns, taking a 130% long position in high-ranked stocks and a 30% short position in low-ranked stocks. [Is 130/30 a good strategy for you?]

The filing is here, if you wish to read more.

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The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.