New York Life to Buy ETF Provider IndexIQ
Text size Consolidation in the industry for exchange-traded funds is heating up. New York Life Insurance said Thursday that will buy IndexIQ, a niche ETF provider specializing in hedge-fund like strategies, according to a press release[1]. IndexIQ commands about $1.3 billion in its stable of about a dozen ETFs, the most popular of which is the $954 million IQ Hedge Multi-Strategy...