S&P unveils plans for nine strategy index

Standard & Poor's is pencilling in a third quarter launch for an investable hedge fund index based on 40 portfolios invested across nine different strategies. The aim of the S&P Hedge Fund Index is to provide a transparent benchmark of the hedge fund asset class. This will be broadly representative of the range of major strategies hedge funds employ, according to the group. The 40 funds will be divided into three sub-indices: arbitrage, event driven and tactical. In turn, these will represent a total of nine specific strategies: macro, equity long/short, managed futures, special s...