UK – Index company FTSE Group is looking at developing an investable hedge fund index.

“It’s something we’re looking at,” said FTSE spokeswoman Sandra Steel. She said the company was talking to clients about it at the moment, though she stressed FTSE has not yet made any decision about it.

The idea was at the research stage, she said. Steel added that FTSE, under chief executive Mark Makepeace, was always looking at new things.

The company, co-owned by the Financial Times and the London Stock Exchange, says on its web site: “If you need a benchmark, tradable or custom index in any currency, market, region, sector or asset class, there is a FTSE index for you.”

FTSE’s rivals Standard & Poor’s and MSCI already offer similar products. And outfits such as Hedge Fund Research launched and CSFB/Tremont unveiled investable hedge fund indices last year.