NEW YORK (HedgeWorld.com)–Refco Securities LLC will license for sale and distribute a new fund linked to the Standard & Poor’s Managed Futures Index.
Refco officials said in a statement that the new S&P Managed Futures Index Fund LP will be sold via a group of broker-dealers that includes Raymond James Financial Services, St. Petersburg, Fla.; Morgan Keegan & Co., Memphis, Tenn.; and Advest Inc., Hartford, Conn.
The S&P Managed Futures Index is composed of 14 accounts managed by registered commodity trading advisers using various futures trading strategies. The index was designed to accurately reflect the performance of managed futures strategies and to serve as a benchmark for managed futures returns.
S&P’s goal in partnering with Refco is to allow investors to participate in managed futures returns through a fund that tracks the index.