New Firm Plans Hedge-Fund-Beating ETF
January 04, 2010 8:02 am
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Yet another upstart exchange-traded fund issuer has filed for “exemptive relief” from the Securities and Exchange Commission, asking for the green light to launch a new family of primarily actively managed ETFs. The firm—FFCM LLC—plans to initially launch an ETF of ETFs designed (in its words) “to outperform a major hedge fund index such as the Credit Suisse/Tremont Global Macro Index.” The exemptive relief application is noticeably short on details, but lays the groundwork for an aggressively managed 130/30 product as well as a wide range of follow-on products. No information about FFCM or its president and chief operating officer, Kishore Karunakaran, was immediately available. The 40-APP filing is available here.
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