LONDON (HedgeWorld.com)–MSCI is adding more hedge funds to its investable index following a quarterly review, with the resulting small shifts in strategy distribution taking effect immediately.
The MSCI Hedge Invest Index will grow to 120 from 109 hedge funds, each of which offer weekly liquidity, an MSCI requirement for index inclusion. The underlying strategy target weightings show little change overall, with slightly higher allocations made to long bias, arbitrage, specialist credit ex illiquid and discretionary trading strategies.
The largest category in terms of numbers is the systematic trading process group, which has 23 underlying funds. The greater asset weighting in the investable index, though, is among long-bias managers, which are make up 22.38% of the assets.