A liquid alternative mutual fund shop is about to scale back its ETF lineup, though it's not exiting the business entirely.
| James Palmer|
Highland Capital Management
Today Dallas-based Highland Capital Management Fund Advisors
plans to shut down three of its four ETFs on April 11. Yet Highland will continue to offer its first ETF, the Highland/iBoxx Senior Loan ETF
Highland debuted its first ETF, SNLN, about three years ago. Then a year ago, Highland launched
three more ETFs: the Highland HFR Event-Driven ETF
(DRVN), the Highland HFR Equity Hedge ETF
(HHDG), and the Highland HFR Global ETF
(HHFR). Those were meant to be the first three of 17
new Highland ETFs coming down the line.
A spokeswoman for Highland declined to comment beyond the release.
Per today's statement from Highland, the company "has chosen to focus on core products and will continue offering the Highland/iBoxx Senior Loan ETF," citing "favorable prospects for continued growth" for that fund.
23-year-old Highland now has about $18 billion in AUM.
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