WEST PALM BEACH, FL (HEDGECO.NET) – Barclays Capital and Hedge Fund Research have announced a joint effort to launch a new bond-based hedge fund benchmark. According to the statement, the index willenable investors to acquire broad exposure to different products.
The new index will be based on the HFRX Global Tracker Fund Index, owned by Hedge Fund Research, a Chicago based fund tracker. According to Christian Stoiber, of Barclays Capital, “The product will appeal to investors such as pension funds and insurance companies looking for…the capital efficiency of investment grade rated bond investments.”
HFR explained that the new �bonds will be rated BBB, with a coupon of 6.25 percent, a maximum redemption value of 100 percent and is expected to benefit from a ratings upgrade as Barclays Bank is rated AA+ by Standard & Poor’s.� HFR further said, �The other has two tranches. The first has a coupon of five percent, with the redemption value rated at A-, and the second has a 5.5 percent coupon with the redemption value rated BBB.�
Hedge Fund Research, Inc. is one of the industry’s most respected sources for hedge fund data and performance information. According to information on company website, HFR tracks over 5000 hedge funds internally and is authorized to distribute information on over 3600 funds and fund of funds to HFR Database subscribers.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: [email protected]
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