Highland Capital Management Fund Advisors L.P. (“Highland”) announces the launch of three new exchange-traded funds (“ETFs”) that leverage the industry-leading indices and research from HFR (Hedge Fund Research, Inc.). The three ETF products designed in collaboration with HFR will be the first of their kind to replicate aggregate hedge fund positions in an ETF and will trade on the New York Stock Exchange, with trading commencing today.

The three new ETFs represent the firm’s continued expansion of its alternative beta product suite and mark the first of 17 new ETFs for the firm. The three initial ETFs are:

- Highland HFR Global ETF (NYSE: HHFR)
- Highland HFR Event Driven ETF (NYSE: DRVN)
- Highland HFR Equity Hedge ETF (NYSE: HEDG)

“The launch of these three ETFs further demonstrates Highland’s commitment to pursuing alternative beta solutions,” said Ethan Powell, Chief Product Strategist for Highland. “We believe that our collaboration with HFR on these new products illustrates Highland’s dedication to delivering tailored products to meet investor demands.”

In conjunction with the recently launched Highland Alternative Investors platform, the launch of these funds underscores Highland’s expanding efforts to offer differentiated strategies at a competitive price.

“With more than $320 million already invested in our first ETF, SNLN, we believe there is market appetite for alternative income and uncorrelated alternative beta products that satisfy investors’ concerns over interest rate and equity volatility,” explained Powell.

“ETFs are a cost-effective option for investors looking to benefit from exposure to alternative investment strategies,” said Kenneth Heinz, President of HFR, the established global leader in the indexation, analysis and research of the global hedge fund industry. “We’re excited to combine HFR’s expertise in indexing and research with Highland’s experience in creating and marketing investment strategies to offer these innovative new investment products.”