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June 01, 2012 at 07:00 AM EDT
Hedge Fund “Clone” ETF Debuts (ALFA)
Exchange-Traded Concepts, the firm providing turnkey solutions to companies looking to make an entrance into the ETF industry, announced this week the debut of a unique product that will seek to clone strategies implemented by hedge funds. The new AlphaClone Alternative Alpha Exchange-Traded Fund (ALFA) will seek to replicate the AlphaClone Hedge Fund Long/Short Index, a benchmark that is constructed based on publicly disclosed positions of hedge funds and institutional investors. The underlying index includes holdings that are disclosed by managers with the highest “clone score,” a metric that measures the efficacy of following a manager based on their publicly disclosed holdings. Clone scores incorporate monthly returns in excess of a broad market index, as well as a fixed hurdle rate over time [sign up for the free ETFdb newsletter]. ALFA will essentially try to mimic the holdings of top hedge fund managers, which are regularly revealed through filings with the SEC. [...] Click here to read the original article on ETFdb.com. Related Posts: ETFs: The $10 Billion Club Alternatives To The 20 Most Popular ETFs 101 ETF Lessons Every Financial Advisor Should Learn 10 Most Useful New ETFs Of 2011 (For Buy-And-Hold Investors) The Appeal Of Dividend ETFs
Exchange-Traded Concepts, the firm providing turnkey solutions to companies looking to make an entrance into the ETF industry, announced this week the debut of a unique product that will seek to clone strategies implemented by hedge funds. The new AlphaClone Alternative Alpha Exchange-Traded Fund (ALFA) will seek to replicate the AlphaClone Hedge Fund Long/Short Index, a benchmark that is constructed based on publicly disclosed positions of hedge funds and institutional investors. The underlying index includes holdings that are disclosed by managers with the highest “clone score,” a metric that measures the efficacy of following a manager based on their publicly disclosed holdings. Clone scores incorporate monthly returns in excess of a broad market index, as well as a fixed hurdle rate over time [sign up for the free ETFdb newsletter]. ALFA will essentially try to mimic the holdings of top hedge fund managers, which are regularly revealed through filings with the SEC. [...]

Click here to read the original article on ETFdb.com.

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