Ex-BlackRock Executives Push to Revive Multi-Strategy ETF Gambit

Two former BlackRock executives are spearheading a push into a small but fast-evolving corner of the $12.5 trillion exchange-traded fund industry: multi-strategy products.

Backing a new ETF called QALT, SEI’s Bob Hum and Michael Lane are betting that demand for hedge-fund-like returns in ETF form will finally take off. The challenge is stark. Multi-strat ETFs tracked by Morningstar Inc. had just $782 million in assets compared with $34 billion in mutual funds as of September, existing products have shown mixed results and BlackRock itself is preparing its own entry.