NEW YORK (HedgeWorld.com)–The MSCI Hedge Invest Index, a new investable hedge fund index, went live with weekly performance as of July 22.
MSCI first said it would be offering the index in June in response to investor demand for investability Previous HedgeWorld Story. The new index is separate from MSCI’s Hedge Fund Indexes, which are sold on a subscription basis.
MSCI is taking an approach that is reminiscent of that used by Standard and Poor’s and PlusFunds Inc., which together are creating hedge fund portfolios indexed to the S&P Hedge Fund Index. (PlusFunds officials say it has US$600 million under management in S&P-linked portfolios.)
MSCI will manage the investable index using separate accounts that are owned by Lyxor Asset Management, a unit of Soci?t? G?n?rale Group, Paris, but managed by external hedge fund managers. Lyxor also will use the index as the basis for a tracking fund.