May 31, 2012
--- The AlphaClone Alternative Alpha ETF
(exchange-traded fund) aims to include exposure to alpha-generating equity
positions, Exchange Traded Concepts LLC said. ---
The fund tracks the rules-based AlphaClone
Hedge Fund Long/Short Index. This index directly selects long positions from
hedge funds' public disclosures using AlphaClone's Clone Score ranking. Proprietary
methodology measures the efficacy of following managers based on their
disclosures over a complete market cycle.
The index uses a rules-based hedging
strategy that adjusts holdings between being long only and market-hedged based
on price targets for a broad index of U.S. equities.
AlphaClone LLC, the fund’s index
provider, was among the earliest to work with the multiple series trust
established by Exchange Traded Concepts and U.S. Bancorp Fund Services LLC.
Exchange Traded Concepts serves as
investment adviser. Index Management Solutions LLC is the sub-adviser.
More information is available here.