There is a new ETF on the way for investors still seeking to invest in IPOs following the recent Facebook launch. The twist on the fund is that it will be pegged to an index created by its advisor. Index Universe picks up on a prospectus filing for the Renaissance IPO ETF.

Renaissance Capital [profile] has asked the SEC to allow them to roll out a number of ETFs that will target US and non-US stocks and bonds.

Renaissance IPO ETF, the first fund to track its own Renaissance IPO Index, will follow US IPO markets.

The Greenwich, Connecticut-based firm also said it wants to include the initial ETF as part of the trust that markets its IPO Plus Aftermarket Fund. 

Edited by: HFD


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