Investors nervous about a tired bull market, rising bond yields and a potential Greek exit no longer have to search very far – or pay a steep hedge fund fee – for peace of mind. Ethan Powell, chief product strategist for Highland Capital Management Fund Advisors, said his company’s three new alternative ETFs offer a readymade solution. ‘These funds run anywhere between 50% net long to 75% net long so right off the bat you have muted exposure to the marketplace which is where you want to be in this type of uncertain market,’ said Powell. Highland Capital launched the trio of exchange-traded funds (ETFs) earlier this month that replicate hedge fund strategies: Highland HFR Global ETF (HHFR), Highland HFR Event Driven ETF (DRVN) and the Highland HFR Equity Hedge ETF (HHDG). All three new Highland ETFs carry fees of 0.85% per year. Dallas-based Highland Capital Management has approximately $21 billion of assets under management. Highland launched its first ETF, the Highland iBoxx Senior Loan ETF (SNLN) in November 2012. The SNLN has $321 million in assets under management at last check.
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