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July 27, 2004 at 08:00 PM
NEW YORK (HedgeWorld.com)–PlusFunds Group Inc. hired Ibbotson Associates Advisors LLC, Chicago, to create two hedge fund allocation models based on the nine strategies in the S&P Hedge Fund Indexes.
One model will seek to outperform the S&P Hedge Fund Index and the other will be designed to profit from upward movements in equities while maintaining downside protection, according to a statement from PlusFunds.
The S&P Index is investable and has had more than US$2.5 billion in assets linked to it since it launched late in 2002, even though its performance this year, like much of the industry, has been unimpressive. In the first six months of the year, the S&P Hedge Fund Index returned just 0.34% (see ).
