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Wednesday, May 10, 2023

IndexIQ and CBRE Team Up Again

Reported by Neil Anderson, Managing Editor

The folks at New York Life's IndexIQ and CBRE are teaming up on a second active ETF.

Today, Sal Bruno, chief investment officer of IndexIQ, and Joseph Smith, CIO of listed real assets strategies at CBRE Investment Management, unveiled the launch of the IQ CBRE Real Assets ETF (IQRA on the NYSE Arca). The new fund is a series of the IndexIQ Active ETF Trust.

IQRA's inception date is today, and it has $4.9 million in AUM. It comes with an expense ratio of 65 basis points (including a 27-bps fee waiver).

IndexIQ Advisors LLC serves as IQRA's investment advisor, and CBRE Investment Management Listed Real Assets LLC serves as subadvisor. The PM team at CBRE includes: Smith; Jeremy Anagnos, CIO of listed infrastructure; Daniel Foley, senior vice president and portfolio manager; and Jonathan Miniman, global portfolio manager.

"Real assets, such as real estate and infrastructure, can play a meaningful role in portfolios, particularly in an environment with rising rates, continued volatility, and inflation," Bruno states, adding that the new new fund "offers a compelling, dynamic, risk-managed approach to asset allocation and ... attractive income generation potential."

The launch of IQRA comes 12 years after the launch of ROOF, another IndexIQ-CBRE team up product. (Roof now has $23 million in AUM.)

IQRA's other service providers include: ALPS Distributors, Inc. as distributor; the Bank of New York Mellon (BNY Mellon) as administrator, custodian, securities lending agent, and transfer agent; Chapman and Cutler LLP as counsel; and PricewaterhouseCoopers LLP as independent accounting firm. 

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