Invesco PowerShares is launching the Multi-Strategy Alternative Portfolio (LALT), a product that focuses on low volatility and enhanced risk-adjusted returns, says the firm.

The ETF is scheduled for listing on the Nasdaq Stock Market on May 29th.

“One of the primary goals for investors that use alternative strategies is to minimize exposure to equity and bond markets, and to achieve better risk-adjusted returns compared to portfolios consisting only of traditional asset classes,” said Dan Draper, Invesco PowerShares managing director of global ETFs. “LALT is an actively managed, long-short strategy that seeks to provide efficient exposure to a broad mix of alternative-asset classes.” 

The fund's benchmark is the Morgan Stanley Multi-Strategy Alternative Index, which was designed to combine strategies that seek attractive risk-adjusted returns with low correlation to traditional asset classes, according to the firm.