By building on IndexIQ’s already established business and product approvals, MainStay has a chance to enhance its ETF industry profile.
“We believe the larger benefit for Mainstay is the opportunity for them to more easily launch ETF versions of the above existing mutual funds or other strategies from their institutional asset managers. Existing ETF providers should have an easier time receiving regulatory approval than newer entrants to the market,” said S&P Capital IQ.
Although it is just speculation at this point, MainStay may look for other ETF purchases in the future. The company has a history of deal-making, having acquired Cushing Asset Management earlier this year and Marketfield Asset Management in 2012.
IndexIQ Hedge Multi-Strategy Tracker ETF
