MEMPHIS, Tenn. (HedgeWorld.com)–Consulting Services Group LLC began using the S&P Hedge Fund Index as an option for its clients, and seven or eight institutions are on the verge of investing in it.
CSG, Memphis, Tenn., will add the hedge fund index to its investment options for its institutional investor client base. The firm plans to use the master index and three sub-indices for asset allocation and performance benchmarking. CSG was attracted to the S&P index based on the index’s transparency, daily pricing, and risk reporting, while institutions also are comfortable with S&P’s standing as a benchmark creator, said Joe Wade, president of Alternative Investment Strategies LP, the alternatives unit of CSG. CSG consults on assets of more than US$22 billion, of which US$2 billion is in hedge funds.