Dow Jones Suspends Hedge Fund Index
Source: http://www.indexuniverse.com/sections/newsinfocus/5799-dow-jones-suspends-distressed-securities-index-.html?Itemid=3&utm_source=straightstocks.com&utm_medium=sidebar&utm_campaign=rssPosted on Monday, May 4th, 2009 | In Exchange Traded Funds, Market Commentary
Hedge fund index tracking distressed securities stops publishing, according to Dow Jones.
An index that tracks hedge fund strategies with distressed securities has temporarily suspended publication, Dow Jones announced early Monday.
The Dow Jones Hedge Fund Distressed Securities Strategy Benchmark will remain closed indefinitely, the index provider added in a statement.
It said the “decision to halt publication of the benchmark is a result of market conditions in the distressed securities space, and was made jointly by Dow Jones Hedge Fund Indexes and the investment manager of the managed account platform that supports the Dow Jones Hedge Fund Strategy benchmarks.”
The move follows similar action taken by Dow Jones recently. On Jan. 2, it halted publication of the Dow Jones Hedge Fund Convertible Arbitrage Strategy Benchmark. That index remains suspended.
However, Dow Jones noted that its remaining strategies—Equity Long/Short, Equity Market Neutral, Event Driven and Merger Arbitrage—will continue to be published on an end-of-day basis.
Launched in November 2003, the Dow Jones Hedge Fund Strategy Benchmarks measure individual hedge fund strategies.
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