WEST PALM BEACH, FL (HEDGECO.NET) – Standard & Poor�s announced the launching of S&P Equity Long/Short Index. According to the release, �The Index is designed to represent the range of hedgefunds that relies on fundamentally driven, bottom-up research for long and short stock picks, and that attempts to create alpha on both sides of the market while limiting overall portfolio risk.�
The S&P Equity Long/Short Hedge Fund Index is made up of 24 funds, including to regional sub-indices, a US focus fund and a Global Ex-US focus fund, according to published reports. Each of these funds is comprised of 12 funds.
Paul Aaronson, executive managing director of Standard & Poor’s said, �Since the launch of the S&P Hedge Fund Index in October 2002, we have seen a tremendous surge in interest for additional indices tracking various segments of the hedge fund universe.�
Aaronson further said, �Investors have shown confidence in Standard & Poor’s high standards for transparency, investability and representativeness and we expect the S&P Equity Long/Short Index will offer similar market appeal as our composite hedge fund index and the S&P Managed Futures Index launched last year,� he added.
In his statement, Justin Dew, senior hedge fund specialist of Standard &Poor�s said, �Recently, significant trends in the world’s economy have highlighted opportunities for equity long/short strategies, including the rise in commodity prices and the decline in the U.S. dollar.� Dew added, �These trends, coupled with the bottom-up stock analysis approach employed by most long/short managers, could provide the basis for many trading opportunities going forward.�
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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