New York Life Investment Management Completes Acquisition of IndexIQ

NEW YORK--(BUSINESS WIRE)--New York Life Investment Management (NYLIM), the third party global asset management business of New York Life, announced today that it has completed its acquisition of IndexIQ, the leader in the liquid alternative exchange-traded fund (ETF) industry.1 The completion of the acquisition comes at a time when the ETF market is experiencing tremendous growth and is increasingly being recognized for efficient investment vehicles to help investors build diversified portfolios.