NEW YORK (HedgeWorld.com)–Standard & Poor’s will expand its S&P Hedge Fund Index to create a managed futures index, S&P Managed Futures Index, and might have additional alternatives indexes in the works.
Separately, Van Hedge Fund Advisors International Inc., Nashville, Tenn., is working on the creation of a new hedge fund index based on hedge funds that are still available for investment, executives said. They declined to discuss the index, though, until Van has completed a formal statement about it.
The S&P futures index has 14 components, four of which are included in the S&P Hedge Fund Index. The introduction of this new futures index follows S&P’s introduction last year of an indicator that seeks to replicate the trend following returns of futures managers, the S&P Diversified Trends Indicator. S&P adopted that tool from Alpha Financial Technologies LLC, Dallas, a firm headed by Victor Sperandeo, chief executive, who also is known as Trader Vic.