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Komfie Manalo, Opalesque Asia:

Investment solutions provider IndexIQ has reduced the management fee for its $1bn IQ Hedge Multi-Strategy Tracker ETF (QAI) by 29% to 53 basis points, a 22-basis point reduction.

The waiving of a portion of the will be effective on November 1 this year and includes acquired fund fees. The total expense ratio for QAI after the fee waiver will now be 76 basis points, the company said in a statement.

"Lowering the fees on this flagship ETF will allow more investors to benefit from exposure to hedge fund performance, and the diversification it provides within a well-constructed portfolio," said Salvatore Bruno, CIO of IndexIQ. "With a live track record stretching back more than eight years, QAI has performed exactly as planned while supporting the launch of other successful liquid alternative funds like our merger arbitrage ETF, MNA. We remain focused on delivering cost-effective, innovative ETF approaches that help advisors and investors achieve their financial goals."

QAI, which launched in 2009 as the first hedge fund replication ETF, is the largest ETF in the multi-alternative category by asset size. With its unique approach of delivering investors hedge fund exposure with the liquidity, transparency, tax efficiency and low......................

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