FTSE look at hedge

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Index company FTSE Group is looking to develop an investible hedge fund index.
“This is something we are looking at,” says Sandra Steel of FTSE in London.
The group was talking to clients about its ideas currently, but she stressed that FTSE has not yet made any decision. The concept is at the research stage.The company, co-owned by the Financial Times and the London Stock Exchange, says on its website: “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.”
In New York Dow Jones Hedge Fund Indexes (DJHFI) has announced that its new hedgefund strategy benchmark series representing five hedge fund strategies is now being calculated and published on a daily basis. Previously, the data for the benchmarks was available only on a monthly basis.
The indices will be published daily in Wall Street Journal and on the Dow Jones Indexes Website
The benchmarks track five strategies (and their 2003 returns): convertible arbitrage (11.81%), distressed securities (23.44%), equity market neutral (-0.66% figures from June 30 to December 31 only), event driven (18.07%) and merger arbitrage (7.98%).
In October last DJHFI assumed ownership rights to the benchmark data from Lyra Capital LLC.

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