WEST PALM BEACH, FL (HEDGECO.NET) – A new hedge fund index has been launched by the FTSE Group. According to the report, the index gained 3% on its first day. The FTSE Hedge fund index is comprisedof 40 hedge funds, based on 3-day old data. The value of the index will be determined on August 31 according to the report.
Investors can soon begin investing in the new index and the investment could be made monthly. The new index will be audited monthly, and the total assets in the index will be independently verified.
The new FTSE index is an investable index, which includes a wide spectrum of hedge funds, incorporating different managers and strategies. According to the earlier press release, �FTSE Hedge will be calculated on a daily basis and will comprise a global index of 40 Hedge Funds, with a range of sub indices covering the major hedge fund strategies. FTSE Hedge has been designed to accurately reflect the investable opportunity for investors across all hedge funds.�
The release added, �FTSE Group imposes strict eligibility criteria on the constituent hedge funds in FTSE Hedge. Only open hedge funds with a proven 2-year track record and strict external audits are included in the index. The independent hedge fund consultant, Harcourt Investment Consulting AG, will perform due diligence tests for each constituent hedge fund.�
Mark Makepeace, Chief Executive of the FTSE Group, said, �FTSE Hedge will bring greater clarity and transparency to the hedge fund market. It will help investors understand and analyze hedge funds and their performance with much greater confidence.�
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: [email protected]
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