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Eurekahedge and MPI announce new benchmark index tracking the top 50 hedge funds

Thursday, December 04, 2014
Opalesque Industry Update - Eurekahedge, an alternative fund data and research house, has announced 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.

The Eurekahedge 50 can be found: here
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