The ETF lowered its management fee and is
tracking a new underlying index, the IQ CBRE NextGen Real Estate
Index
IndexIQ has announced that effective today, the IQ U.S. Real
Estate Small Cap ETF (the “Fund”) has completed the transition to
tracking the IQ CBRE NextGen Real Estate Index (the “New Underlying
Index”) and has been renamed as the IQ CBRE NextGen Real Estate
ETF. As part of the transition, the management fee has decreased
from 0.69% to 0.60%.
Under these changes, the Fund seeks to provide exposure to real
estate sectors and companies that are expected to benefit from
large trends (“NextGen Trends”) affecting the global economy over a
secular, multi-year time horizon. The New Underlying Index will
primarily provide exposure to U.S.-based companies, but also
includes securities of issuers based in foreign markets. The Index
will typically be made up of 75-150 securities of real estate
issuers and will be rebalanced quarterly.
The NextGen Trends are focused on property sectors aligned with
the following:
- Digital Transformation: Companies in the technology real
estate sector owning, operating, and developing cell tower, fiber
network, and data center assets which enable the growth of data and
digital communications
- eCommerce Revolution: Companies in the industrial sector
owning, operating, and developing logistics facilities where
products are stored and shipped to the end user and may benefit
from the long-term growth of online sales
- Generational Change: Companies within the healthcare and
residential real estate sectors that provide exposure to life
science facilities, skilled nursing facilities, senior living
facilities, multifamily residential, single family for rent, and
student housing to capitalize on demand from aging populations,
increased healthcare spending, and rising home ownership
costs.
Ian Forrest, Head of IndexIQ said:
“There’s been a big shift in the real estate market particularly
in the last couple of years, and we’re now witnessing a new wave of
trends emerge within the sector that we believe are valuable to
have in the portfolio. It remains a priority for us to regularly
evaluate our lineup and enhance our product solutions to best fit
the needs of our clients. We’re excited to be leveraging the
tenured expertise from global real estate leader CBRE Investment
Management to help identify these trends and build this new Index
to best reflect the changing real estate market.”
Joseph Smith, Chief Investment Officer, Listed Strategies of
CBRE Investment Management, said:
“This is an exciting opportunity to align with IndexIQ to better
position this ETF and partner in offering the IQ CBRE NextGen Real
Estate Index as the new benchmark for the ROOF ETF. There are
several NextGen trends reshaping the real estate landscape, and
this index has been designed to capture them in a global,
diversified way.”
For more information on the fund and on IndexIQ’s full suite of
ETF offerings, as well as insights and commentary on inflation and
the current market environment, please visit our website here.
About IndexIQ
IndexIQ, a New York Life Investments company, is a provider of
exchange-traded funds (ETFs), with a decade of offering highly
differentiated and innovative solutions to retail and institutional
investors. With $5.1 billion in assets under management as of
December 31, 2021, IndexIQ leverages the asset management
capabilities of New York Life Investments' multi-boutique platform
into its suite of offerings which include: fixed income, equities,
alternatives, ESG components and specialty asset classes. For
additional information on IndexIQ, visit
newyorklifeinvestments.com/etf or follow us on Twitter or
LinkedIn.
About CBRE Investment Management
CBRE Investment Management is a leading global real assets
investment management firm with $146.9 billion in assets under
management* as of June 30, 2022, operating in more than 30 offices
and 20 countries around the world. Through its investor operator
culture, the firm seeks to deliver sustainable investment solutions
across real assets categories, geographies, risk profiles and
execution formats so that its clients, people, and communities
thrive. CBRE Investment Management Listed Real Assets LLC is a
separately registered investment adviser within CBRE Investment
Management that specializes in the management of global listed real
assets solutions.
CBRE Investment Management is an independently operated
affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest
commercial real estate services and investment firm (based on 2021
revenue). CBRE has more than 105,000 employees (excluding Turner
& Townsend employees) serving clients in more than 100
countries. CBRE Investment Management harnesses CBRE’s data and
market insights, investment sourcing and other resources for the
benefit of its clients. For more information about CBRE Investment
Management, please visit www.cbreim.com.
*Assets under management (AUM) refers to the fair market value
of real assets-related investments with respect to which CBRE
Investment Management provides, on a global basis, oversight,
investment management services and other advice and which generally
consist of investments in real assets; equity in funds and joint
ventures; securities portfolios; operating companies and real
assets-related loans. This AUM is intended principally to reflect
the extent of CBRE Investment Management’s presence in the global
real assets market, and its calculation of AUM may differ from the
calculations of other asset managers and from its calculation of
regulatory assets under management for purposes of certain
regulatory filings.
Disclosures:
About Risk:
All investments are subject to risk and will fluctuate in
value.
Foreign Securities Risk
Investments in the securities of non-U.S. issuers involve risks
beyond those associated with investments in U.S. securities. These
additional risks include greater market volatility, the
availability of less reliable financial information, higher
transactional and custody costs, taxation by foreign governments,
decreased market liquidity and political instability.
Industry/Sector Concentration Risk
The Fund’s investment of a large percentage of its assets in the
securities of issuers within the same industry or sector means that
an adverse economic, business or political development may affect
the value of the Fund’s investments more than if the Fund were more
broadly diversified.
Real Estate Sector Risk
Companies in the real estate sector may be adversely affected
by, among other things, general and local economic conditions,
intense competition, overbuilding, supply and demand, interest
rates, environmental liability, zoning laws, regulatory limitations
on rents, property taxes, operating expenses and limited
diversification.
Small- and/or Mid-Capitalization Companies Risk
Small- and mid-capitalization companies may be more vulnerable
to adverse general market or economic developments, and their
securities may be less liquid and may experience greater price
volatility than larger, more established companies.
Consider the Funds' investment objectives, risks, charges and
expenses carefully before investing. The prospectus and the
statement of additional information include this and other relevant
information about the Funds and are available by visiting
IQetfs.com. Read the prospectus carefully before investing.
New York Life Investment Management LLC engages the services of
federally registered advisors. CBRE Investment Management is
unaffiliated with New York Life Investments.
"New York Life Investments" is both a service mark, and the
common trade name, of certain investment advisors affiliated with
New York Life Insurance Company. IndexIQ® is the indirect wholly
owned subsidiary of New York Life Investment Management Holdings
LLC and serves as the advisor to the IndexIQ ETFs. ALPS
Distributors, Inc. (ALPS) is the principal underwriter of the ETFs,
and NYLIFE Distributors LLC is a distributor of the ETFs. NYLIFE
Distributors LLC is located at 30 Hudson Street, Jersey City, NJ
07302. ALPS Distributors, Inc. is not affiliated with NYLIFE
Distributors LLC. NYLIFE Distributors LLC is a Member
FINRA/SIPC.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220901005129/en/
For additional information about IndexIQ, please contact:
Allison Scott / Sara Guenoun New York Life Investments
Allison_scott@nylim.com / sara_j_guenoun@newyorklife.com
Chris Sullivan / Julia Stoll MacMillan Communications
chris@macmillancom.com / julia@macmillancom.com
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