Eurekahedge and MPI announce new benchmark index tracking the top 50 hedge funds |
Date: Thursday, December 4, 2014
Author: Press Release
SINGAPORE (DECEMBER 03, 2014) - Eurekahedge, a market leading alternative fund
data and research house, announced today the launch of a new index, the
Eurekahedge 50, created in partnership with Markov Processes International, Inc.
(MPI), a premier provider of quantitative tools and technologies for analysing
investment performance and risk. The Eurekahedge 50 consists of the world's most
successful hedge funds that have generated consistently attractive risk-adjusted
returns over a number of years and market cycles.
The index was created to meet the demands of institutional hedge fund investors
seeking a more selective benchmark reflective of diversified institutional
quality hedge fund portfolios. The Eurekahedge 50 tracks the returns of the top
hedge funds based on longevity, assets under management (AUM) and quality of
risk-adjusted returns, taking into account stability and consistency. Boasting
attractive performance coupled with a low downside deviation, the Eurekahedge 50
contains household names such as Paulson, BlueCrest, Cerberus, Fortress,
Renaissance Technologies and other distinguished advisors from the hedge fund
industry. With membership to the index limited to one fund per management
company, the Eurekahedge 50 captures the best of the large hedge fund
franchises.
"As investing in hedge funds continues to mature, institutional investors have
been looking for a benchmark that is more reflective of their investment
objectives as opposed to broad all-inclusive hedge fund indices. With a
well-defined index construction criteria and attractive performance
characteristics of the Eurekahedge 50, we feel we have created such an index and
are excited to offer our clients access to this industry-leading hedge fund
portfolio benchmark." said Alexander Mearns, CEO, Eurekahedge.
The Eurekahedge 50 is equally weighted among its constituent funds and has been
reconstructed by Eurekahedge since December 31, 2006 using a rules-based
methodology, and avoiding survival and backfill biases. The current combined AUM
of the 50 constituent funds exceeds US$110 billion.
"We are excited to join forces with Eurekahedge in designing a robust process
that better captures the way institutional investors select and monitor hedge
funds. MPI's deep expertise in quantitative due diligence and fund analysis
provides great insights into hedge fund portfolio construction. In partnership
with Eurekahedge, we helped build the first benchmark that aims to provide a
reasonable proxy for a concentrated portfolio of institutional quality hedge
funds." said Michael Markov, Co-Founder and Chairman, MPI.
Based on this new benchmark, Quantvest Capital LLC, a US-based investment
adviser, will create a daily tracker index which will be published on its
website and has plans to launch an investible product that tracks the
performance of the Eurekahedge 50 with a portfolio of liquid, exchange-traded
securities.
About the index
The Eurekahedge 50 index is designed to provide representative performance of a
diversified, institutional quality investment in hedge funds. The index consists
of 50 large hedge funds that pass a series of quantitative due diligence screens
and exhibit superior risk-adjusted performance. The index is equally weighted.
It is rebalanced at the beginning of each year and reviewed on a monthly basis.
Base weighted at 100 starting from 31 December 2006, it does not contain
duplicate funds and is denominated in USD. The index's returns and values for
the most recent 3 months remain provisional until all funds have reported their
returns. The Eurekahedge 50 is a product of collaboration between Eurekahedge
and Markov Processes International, a leader in quantitative analysis of hedge
funds.
The Eurekahedge 50 can be found at: http://www.eurekahedge.com/Indices/IndexView/Eurekahedge/639/The_Eurekahedge_50
and on Bloomberg with the symbol EHFI400.
About Eurekahedge
Launched by financial professionals in 2001, Eurekahedge's proven track record
spans over a decade - setting us apart as the world's largest independent data
provider and alternative research firm.
Specialising in hedge fund databases covering Asia, Europe, North America and
Latin America, Eurekahedge's alternative asset funds databases are the most
complete and precise with indices updated by an average of 96% by month-end. The
tracking of over 220 data points - more than any competitor - makes analysis of
managers' performances easier on our clients which include, but are not limited
to, family offices, endowments & trusts, pension funds, funds of hedge funds,
sovereign wealth funds, private banks, advisors and service providers to the
industry.
Eurekahedge is a subsidiary of Mizuho Bank, the second largest financial
services group in Japan. Headquartered in Singapore with offices in New York and
Cebu, Eurekahedge has a worldwide strength of over 50 employees. The global
expertise of our research team constantly adapts to industry changes and needs,
allowing Eurekahedge to develop and offer a wide array of products and services
coveted by accredited investor groups, financial institutions and media sources.
In addition to market-leading hedge fund databases and analysis, Eurekahedge's
other business functions include hedge fund publications, due diligence
services, investor services, and an analytical platform service.
About MPI
Markov Processes International, Inc. (MPI) is a premier financial technology
firm delivering innovative solutions to over 300 of the world's largest
financial institutions: pensions and endowments, sovereign wealth funds, global
wealth management firms, institutional consultants, investment advisors and
asset managers. Since 1992, MPI has harnessed the latest in quantitative
thinking to create practical applications for investment management
professionals. MPI developed a suite of patented models and proprietary
techniques which address investors' need for greater precision and transparency,
especially in complex and often opaque products, such as hedge funds.
MPI was co-founded by Michael Markov, a recognised authority in quantitative
analysis and an expert sought after by some of the largest institutions on
forensic analysis of hedge funds. Mr. Markov is a mathematician by training who
has published on signal processing, investment style and performance analysis,
quantitative modeling of investments, and advanced hedge fund replication.
About Quantvest
Quantvest Capital LLC is a U.S.-based investment advisory firm specialising in
replication of customised hedge fund portfolios for institutional investors.
Contact Details
Eurekahedge Pte Ltd:
Deborah Rols
Senior Marketing Executive
deborah@eurekahedge.com
+65 6212 0892
Markov Processes International, Inc:
Paul Damon
Press Contact
info@markovprocesses.com
+1 802 999 5526
www.markovprocesses.com
Quantvest Capital LLC:
Dimitri Sogoloff
Chief Executive Officer
dsogoloff@quantvestcap.com
+1 212 939 7310
www.quantvestcap.com
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