The IQ Hedge Multi-Strategy Tracker ETF (NYSE: QAI), the first US-listed hedge fund replication ETF, celebrated its three-year anniversary on 25 March, 2012, the fund’s sponsor, IndexIQ, has announced. “We launched the IQ Hedge Multi-Strategy Tracker ETF in 2009 with the goal of making a whole new asset class available to the average investor. Before the launch of QAI, hedge fund investing was generally limited to institutions and high net worth individuals,” said Adam Patti, CEO of IndexIQ.

London-based ETP provider Source has announced the launch of the MSCI Europe Value Source ETF, a fund designed to provide exposure to European companies offering the best fundamental value. The fund tracks the MSCI Europe Value Index, a subset of the MSCI Europe Index focussed on stocks that exhibit “value” characteristics. The factors used to assess a stock’s value include book value, 12-month forward earnings and dividend yield. The launch is reflective of the increased interest in so-called ‘smart beta’ ETFs.

Credit Suisse has announced that it will be converting seven CS ETFs from synthetically to physically-replicating funds. In November 2011, four Credit Suisse ETFs were converted from a synthetic to a physical-replication method. Since then, the bank has monitored the remaining synthetic CS ETFs for opportunities to convert to a physical structure. With this second wave of conversions, Credit Suisse hopes to position itself as one of the leading providers of physically-replicating ETFs in Europe.

UBS has announced the issuance of the ETRACS Monthly Pay 2x Leveraged Dow Jones International Real Estate ETN (RWXL), an exchange-traded note (ETN) providing leveraged exposure to international real estate securities. RWXL provides 200% monthly exposure to the Dow Jones Global ex-US Select Real Estate Securities Index, a float-adjusted market-capitalisation weighted index that tracks publicly traded real estate securities in countries outside of the US. The ETN offers investors a hefty income yield, which currently stands at 7.60%

State Street Global Advisors (SSgA) has announced the European launch of the SPDR S&P 500 ETF (SPY5), a locally domiciled version of its flagship US SPDR product. The US-listed product (SPY) is the largest and most actively traded ETF in the world with almost $95bn in assets under management. While SPDR S&P 500 ETF will compete against a swathe of existing European S&P 500 ETFs, with a TER of just 0.15% pa, the fund is significantly cheaper than its rivals and should make progress gathering assets.

Direxion has expanded its product lineup with the launch of the Direxion NASDAQ-100 Equal Weighted Index ETF (QQQE). The fund provides investors with diversified exposure to the constituents of the NASDAQ-100 index. Unlike traditional market-cap weighted ETFs, which are prone to portfolio concentration risk, QQQE weights holdings equally. This capitalises on both the small-cap premium and the natural tendency of stocks to mean revert. It also means that performance is significantly less reliant on a few mega-cap companies.

Van Eck has announced the launch of the Market Vectors Indonesia Small-Cap ETF (IDXJ), the first US-listed ETF designed to deliver pure-play exposure to the small-capitalisation segment of Indonesia’s stock market. IDXJ is the second ETF introduced by Market Vectors that focusses exclusively on Indonesia, joining the Market Vectors Indonesia Index ETF (IDX), which focuses on large-caps. Home to roughly 240 million people, investment-grade Indonesia is Southeast Asia’s largest economy. Its stock market has risen by over 250% in the past three years.

The US economy is back on track, but rising energy costs mark the latest speed bump on the road to recovery, according to a report released by TD Economics. “There’s a new confidence in the recovery that we haven’t seen in a while,” says TD Chief Economist Craig Alexander, noting recent positive developments in the labour and housing markets. With US economic growth forecast to average 2.2% in 2012 and 2.4% in 2013, “There’s a strong case for optimism.”

Over the last 10 years, the Asia-Pacific equity market, excluding Japan, has delivered an annualised return of over 12%. While 2012 could be another year of challenges for global markets, the Asia-Pacific region benefits from a number of positive characteristics which should continue to drive growth, according to the Asia desk at Edinburgh-based Martin Currie Investment Management. These characteristics include resilience, value, wealth, intra-Asian trade and car ownership.

Ireland’s ability to begin reducing its deficit and restore growth has enabled it to separate itself from European countries with more troubled economies such as Portugal and Greece, according to Desmond Mac Intyre, chairman and CEO of Standish Mellon Asset Management. Among the reasons for optimism cited were the reduction of the government deficit below 10% in 2011 and the estimated expansion of its economy by 0.9% in 2011, the first growth since 2007.