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Hans Hufschmid Bailey McCann, Opalesque New York:

UK-based fund services firm, GlobeOp has launched an independent, asset-weighted hedge fund performance index on May 15, which shows a gross performance of 0.51% in April. The new index compliments the firm's two other indexes - the GlobeOp Capital Movement Index and the GlobeOp Forward Redemption Indicator.

The index will report on actual fund performance data independently collected from clients for whom GlobeOp provides monthly administration services, clients will not be able to opt-in or opt-out of being listed on the index. The firm says that by independently pulling the data, they will be able to eliminate selection and survivorship biases typical to other indexes.

On the 10th business day of each month, the Performance Index will provide a flash estimate of the aggregate gross performance (net of management but not incentive fees) of funds administered by the firm. The data will be presented in aggregate and therefore anonymized. Performance Index data will be based on the same reconciled fund data GlobeOp uses to calculate fund net asset values (NAVs).

"Together, the indexes will provide a complete picture of overall performance and how comfortable investors are," says Hans Hufschmid, CEO, GlobeOp, in an interview with Opa......................

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