The alternative exchange traded fund investment space is getting ready for an influx of new product offerings as Highland Capital Management, the sponsor behind a senior loan ETF, works on expanding its ETF suite with 17 new offerings.
According to a press release, Highlands has filed for 17 new ETFs that will invest across various alternative asset classes and provide access to sophisticated, hedge-fund-esque strategies.
Specifically, according to a Securities and Exchange Commission filing, Highland is planning the following ETFs, which will best listed on the NYSE Arca:
- HIGHLAND EQUITY HEDGE FUNDAMENTAL GROWTH ETF
- HIGHLAND EQUITY HEDGE FUNDAMENTAL VALUE ETF
- HIGHLAND EQUITY HEDGE MULTI-STRATEGY ETF
- HIGHLAND EQUITY HEDGE TECHNOLOGY ETF
- HIGHLAND EQUITY HEDGE HEALTHCARE ETF
- HIGHLAND EVENT-DRIVEN ACTIVIST ETF
- HIGHLAND EVENT-DRIVEN CREDIT ARBITRAGE ETF
- HIGHLAND EVENT-DRIVEN MERGER ARBITRAGE ETF
- HIGHLAND EVENT-DRIVEN MULTI-STRATEGY ETF
- HIGHLAND MACRO DISCRETIONARY THEMATIC ETF
- HIGHLAND MACRO MULTI-STRATEGY ETF
- HIGHLAND RELATIVE VALUE FIXED-INCOME ASSET BACKED ETF
- HIGHLAND RELATIVE VALUE FIXED-INCOME CONVERTIBLE ARBITRAGE ETF
- HIGHLAND RELATIVE VALUE FIXED-INCOME CORPORATE ETF
- HIGHLAND RELATIVE VALUE FIXED-INCOME SOVEREIGN ETF
- HIGHLAND RELATIVE VALUE VOLATILITY ETF
- HIGHLAND RELATIVE VALUE MULTI-STRATEGY ETF
The proposed ETFs track hedge fund strategies or employ hedge fund investment styles.
For instance, the HIGHLAND EQUITY HEDGE FUNDAMENTAL GROWTH ETF is based off a rules-based index that seeks to track the returns of hedge funds that employ fundamental growth strategies, such as abnormally high levels of growth compared with the growth of relevant benchmarks in earnings, profitability, sales or market share. The HIGHLAND EQUITY HEDGE FUNDAMENTAL VALUE ETF tracks fundamental value strategies that include attractive opportunities due to their current market value being discounted to what the hedge fund manager determines to be the company’s fundamental value.
The HIGHLAND EQUITY HEDGE MULTI-STRATEGY ETF includes various investment styles, including long/short, macro and event-driven hedge fund strategies.