.jpg)
The S&P Equity Long/Short Index starts with the five Equity Long/Short funds represented in the flagship S&P Hedge Fund Index, and adds 19 new funds to create a separate build-out index that is more representative of hedge funds employing this strategy.
The S&P Equity Long/Short Index is designed to represent the range of hedge funds that relies on fundamentally driven, bottom-up research for long and short equity selection, typically attempting to create a separate alpha for both long and short positions, while limiting overall portfolio risk. The S&P Equity Long/Short Index includes 24 funds screened for asset size, tenure, and strategy purity. The index includes two regional sub-indices: one with a U.S. focus and one with a Global-Ex-U.S. focus, each comprising 12 funds.
Like the other hedge fund indices designed and maintained by Standard & Poor's, the S&P Equity Long/Short Index is investable through the PlusFunds separate account platform, which is designed to mirror the S&P indices.
"This index represents another step in our strategy to provide build-out, representative indices at the individual strategy level for the nine strategies comprising the composite S&P Hedge Fund Index," said Peter Roffman, managing director, Standard & Poor's. "These indices are designed to offer single-strategy exposure that can be used by investors both as benchmarks as well as the basis for investment."
Said Gabriel Bousbib, Chief Executive Officer of PlusFunds, “We are delighted to further expand our relationship with Standard & Poor’s. S&P’s decision to use the PlusFunds platform for monitoring the complex trading activities of 24 Equity Long/Short managers further confirms the strength of PlusFunds’ operational and risk management processes.”
The list of 24 constituents, daily calculations, methodology, and performance data are available on www.sp-hedgefundindex.com.
S&P Equity Long/Short Index Constituents
|
Tracking Fund/Portfolio/Advisor(1) |
Geography(2)(3) |
|
S&P Equity Long/Short Global Ex-US (SPELSI Global Ex-US) |
|
|
The AlphaGen Hokuto Fund Ltd. Japan |
Asia Focus |
|
Sparx Long-Short Fund Limited |
Asia Focus |
|
Tiedemann/Ayer Asian Growth Ltd. |
Asia Focus |
|
Aspect European Equity Long/Short Program(4) |
Europe Focus |
|
New Star Hedge Fund Ltd. |
Europe Focus |
|
RAB Europe Fund Ltd. |
Europe Focus |
|
ReachCapital International Fund I, Ltd. |
Europe Focus |
|
Sofaer Capital European Hedge Fund |
Europe Focus |
|
Thames River Kingsway Fund |
Europe Focus |
|
TT International: Long Short Europe |
Europe Focus |
|
Lazard Global Opportunities |
Multi-regional |
|
Lion Global Opportunity Fund Ltd. |
Multi-regional |
|
S&P Equity Long/Short US (SPELSI US) |
|
|
Ardsley Offshore Fund, Ltd. |
U.S. Focus |
|
Ascend Offshore Fund, Ltd. |
U.S. Focus |
|
Blue Coast Partners I, LP |
U.S. Focus |
|
Bricoleur Offshore Ltd. |
U.S. Focus |
|
Chilton Investment Partners |
U.S. Focus |
|
CRM US Value Fund, Ltd. |
U.S. Focus |
|
Cumberland Partners |
U.S. Focus |
|
EGM Long/Short Growth Strategy |
U.S. Focus |
|
Omega Overseas Partners Ltd.(5) |
U.S. Focus |
|
Ridgecrest Partners QP, LP |
U.S. Focus |
|
Sandler Associates |
U.S. Focus |
|
Willow Creek Capital Partners, LP |
U.S. Focus |
Footnotes
(1) Generally excludes illiquid investments
(2) May hold securities outside a specified region
(3) Europe Focus: Continental Europe and United Kingdom
(4) 20% net long utilizing futures; Excludes futures overlay
(5) Excludes Macro investments
A decision to include a hedge fund as a component of the S&P Equity Long/Short Index does not reflect an endorsement by Standard & Poor’s or anyone else of the investment merits of the fund.
About Standard & Poor's
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research, data and valuations. With 5000 employees
located in 20 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit www.standardandpoors.com.
