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Nasdaq announced that Global X Funds will list a new exchange-traded fund (ETF), the Global X GuruTM Activist Index ETF (Symbol: ACTX), which will begin trading on The Nasdaq Stock Market today, April 29, 2015.
"Activist investing is an increasingly popular alpha strategy, but is often limited to investors in hedge funds and other institutional managers," said Jay Jacobs, Research Analyst at Global X Funds. "With the launch of ACTX, investors can now participate in activist campaigns, but without a 2 and 20 fee structure and with the liquidity and transparency of an ETF."
ACTX seeks to provide investors with access to 50 of the top equity holdings of major activist investors in the United States. By investing alongside hedge funds and institutional investors, ACTX seeks to benefit from their campaigns to unlock shareholder value, potentially generating excess returns over US equity benchmarks such as the S&P 500.
"We are pleased to welcome ACTX to Global X's suite of ETPs listed on The Nasdaq Stock Market," said Jeff McCarthy, Vice President, Head of ETP Listings at Nasdaq. "Nasdaq endeavors to penetrate the end-user base in conjunction with our partners at Global X to achieve the widest adoption of investment tools like ACTX."
Nasdaq operates an efficient platform for successfully introducing a product suite into one of the single largest pools of liquidity, including market participants which represent a full spectrum of investors. ETF issuers benefit from an end-to-end solution that provides ongoing product support including index licensing, listings opportunities, data offerings and trading services. As the home to some of the world's most innovative ventures, Nasdaq generates opportunities for issuers to access new markets and deliver new concepts that change the way the industry develops, manages and applies ETFs.
