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From Benedicte Gravrand, Geneva: BNP Paribas announced on 9th November 07 the launch of the CMRI, Commodity Market Representative Index (see Monday’s coverage).

The index is designed to be the most representative, replicable and investable commodity market portfolio. It offers wider commodity representation through basket of futures; it combines all commodities in proportion of their market representation; it does not use arbitrary fundamental data; the pro-forma performance over cash is 12.42% annualised (14.76% vol); it has reduced volatility through diversification and sheer number of contracts; it is also a suite of indices and has sub-indices for each sector available. The index is available on Bloomberg.

Frederic Hervouet, the new Managing Director and Head of Commodity Investor Derivatives Asia - Sales & Marketing at BNP Paribas was working until recently at Diapason Commodities Management as Head of Sales. He is currently working in London and will relocate to Singapore in the near future. He and Lionel Semonin, Global Head of Commodity Investor Derivatives Asia, talked to Opalesque about CMRI. “The main idea is to build an object market portfolio for commodit......................

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