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Structured Products Drive HFR Growth

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CHICAGO (–Assets under management at HFR Asset Management LLC have broached US$2 billion, in large part due to structured products, the firm announced.

Investors from Asia, Europe and the United States, including major banks and brokers, are using Hedge Fund Research funds and indexes as the basis of structured products, according to HFR chief marketing officer Bill Santos. Principal protected notes, options, warrants and total return swaps are among these products.

The firm, founded in 1993 and a supplier of hedge fund data as well as investment vehicles, launched investable hedge fund indexes in March 2003. These consist of eight strategy benchmarks and an asset-weighted proxy for the overall hedge fund universe

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Other hedge fund indexes, all launched in the past year or so, also are in demand for structured products. Hedge fund index vehicles offered by CSFB/Tremont, Morgan Stanley Capital International and S&P collectively have attracted billions of dollars in assets, partly through capital guaranteed notes .

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