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Products bring indexing to hedge funds for small investors

Date: Saturday, November 15, 2003

By Rob Carrick, Globe & Mail: Index investing and hedge funds have come together in some new products with special appeal to small investors. Whereas most index funds track a stock index, these new hedge products mirror the performance of an index based on baskets of hedge funds overseen by Morgan Stanley Capital International and CSFB-Tremont. With new hedge fund indexes appearing all the time, retail investors are likely to see an increasing number of hedge index products. Canadians have a couple of options for now, both of which are open to small investors as well as the high-net-worth types that are the usual hedge audience. One is the Tremont Hedge Fund Index Linked Trust, an exchange-traded investment trust that will follow the CFSB-Tremont Investable Hedge Index of 60 global hedge funds. The other is ONE Financial MSCI Hedge Invest Index Notes, which deliver returns linked to the Morgan Stanley Capital International Hedge Invest Index and its 74 underlying hedge funds. For the complete article: http://www.globeinvestor.com/servlet/ArticleNews/story/gam/20031115/STCAR15