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Nasdaq OMX Group, a leading exchange group and index provider, and Newfound Research, a Boston-based investment adviser, have unveiled their first instalment of indices, the product of a partnership between the two companies announced last month.
The new Nasdaq Newfound Index Family features rules-based, quantitatively enabled investment strategies created by Newfound Research and tracks specific investment strategies through the use of exchange-traded funds (ETFs).
The indices are designed to utilize ETFs to allow for specific outcomes to be achieved as an overlay on a broad market experience.
These initial indices represent a unique investment strategy including defensive equities, target yields, risk managed income, and a dynamic market neutral strategy.
Nasdaq OMX and Newfound expect the new indices will be available for licensing and implementation through separately managed accounts and ETFs.
Commenting on the launch, Dave Gedeon, Managing Director of Nasdaq OMX Global Indexes, said: “The Nasdaq Newfound Indexes give investment and asset managers unique outcome-oriented investment strategies for their clients’ portfolios. The intellectual property captured within Newfound Research is powerful and distinct compared to other broad market strategy indexes. Our target excess yield indexes, for example, are unique and we look forward to comparing them to traditional fixed income products over time.”
Corey Hoffstein, Chief Investment Officer of Newfound, added: “Newfound has been recognized as a premier provider of ETF Managed Portfolios to its distribution partners. Nasdaq OMX is recognized throughout the world as an innovative, market-leading index provider with an extensive network of partnerships. By combining our strengths, asset managers around the world will gain access to these custom investment strategies.”
The initial suite of indices is as follows:
Nasdaq Newfound Global Defensive Equity Index (NQNFGEQ)
Nasdaq Newfound Global Defensive Equity Total Return Index (NQNFGEQT)
Nasdaq Newfound 1% Target Excess Yield Index (NQNF1YL)
Nasdaq Newfound 1% Target Excess Yield Total Return Index (NQNF1YLT)
Nasdaq Newfound 2% Target Excess Yield Index (NQNF2YL)
Nasdaq Newfound 2% Target Excess Yield Total Return Index (NQNF2YLT)
Nasdaq Newfound 3% Target Excess Yield Index (NQNF3YL)
Nasdaq Newfound 3% Target Excess Yield Total Return Index (NQNF3YLT)
Nasdaq Newfound 4% Target Excess Yield Index (NQNF4YL)
Nasdaq Newfound 4% Target Excess Yield Total Return Index (NQNF4YLT)
Nasdaq Newfound Risk Managed Income Index (NQNFINC)
Nasdaq Newfound Risk Managed Income Total Return Index (NQNFINCT)
Nasdaq Newfound US Dynamic Long/Short Index (NQNFLS)
Nasdaq Newfound US Dynamic Long/Short Total Return Index (NQNFLST)