A NEW index of hedge funds is to join the FTSE 100 and the FTSE All Share among the barometers of investment returns. FTSE Group announced plans to launch FTSE Hedge, an index reflecting theperformance of 40 hedge funds worldwide, in April. The newcomer will challenge the CSFB/Tremont hedge fund indices.
Fund manager MSS Capital plans a fund to track the new index.
IN PROSPECT
INVENSYS shares firmed 1/4p to 241/2p today ahead of a Pounds 500 million rescue rights issue tomorrow. The cash-raising is necessary to save the engineering group from a series of debt-repayment deadlines, beginning with Pounds 400 million in June. Plans to sell two-thirds of the business for Pounds 1.8 billion have foundered in a buyers’ market.
