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Ex-Bridgewater exec to launch suite of hedge fund-style ETFs

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Unlimited, an exchange traded fund firm launched by former Bridgewater Associates executive Bob Elliott, is to expand its offering with the launch of a suite of ETFs providing investors with access to a range of hedge fund-like strategies.

Ten months after launching the nearly $40m Unlimited HFND Multi-Strategy Return Tracker ETF (HFND), the New York-based asset manager has filed with the SEC to launch eight more hedge fund strategy ETFs, which will aim to replicate the returns of styles such as equity long-short, global macro, and low beta.

According to its website, Unlimited’s aim is to offer “access to the returns of sophisticated investment strategies at a lower cost than traditional limited partnerships, with greater transparency and liquidity”.

Each fund will invest primarily in ETFs and futures contracts and use an algorithm that utilises historical returns and positioning data to build portfolios that best match each sector’s returns, according to the regulatory filing.

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