WEST PALM BEACH, FL (HEDGECO.NET) – Dow Jones has announced that it will begin the publication of a Hedge Fund Index this Nov 1. According to a new press release, the new DJHFI �was created tounderlie investable products.� Dow Jones took over the ownership of the indexes from Lyra Capital LLC, and henceforth will be responsible for the �ongoing design, construction, and maintenance of theDow Jones Hedge Fund Strategy Benchmarks.�
According to Mike Petronella, president of Dow Jones Indexes/Ventures and director of DJHFI, �The Dow Jones Hedge Fund Strategy Benchmarks represent the unique returns of five robust hedge fund strategies, offer risk control through diversification and leverage guidelines, and provide the transparency needed by this growing investment class.�
In his statement, the CEO of Lyra Capital LLC, Garry Crowder said, �Lyra Capital is the successor firm to Zurich Institutional Benchmarks Management LLC. Over the past three years, we have been a leader in the research and development of meaningful hedge fund structures for institutional clients. The assumption by Dow Jones Hedge Fund Indexes as the owner and provider of the Dow Jones Hedge Fund Strategy Benchmarks ensures that these indexes will continue to be at the forefront of the hedge fund indexes marketplace.�
The index will cover five different areas according to the news release: Equity Market Neutral, Convertible Arbitrage, Distressed Securities, Merger Arbitrage, and Event Driven. The new product will be made available to the public through the Dow Jones Indexes website at www.djindexes.com. DJHFI is a subsidiary of the Dow Jones & Company, a global financial news provider.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: [email protected]
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