Eureka, Parent Launch New Set Of Indices

Sep 28 2011 | 9:41am ET

Eurekahedge will next month launch a new suite of hedge fund indices alongside new owner Mizuho Corporate Bank.

The hedge fund data provider will begin calculating at least a dozen new benchmarks, dubbed the Mizuho-Eurekahedge indices. Eurekahedge's existing, and widely-followed, suite of indices will be unaffected.

The new indices, which will become available next month with data for September, will employ a rigid methodology and will be asset-weighted, Eureka and Mizuho, which bought a 95% stake in Eureka in March, said. Historical performance will be calculated back to the beginning of 2005, and will be frozen to eliminate backfill bias.

The indices will focus on the Asia-Pacific region, with several regional indices focused on that area. In addition, there will be two indices covering the largest 100 and 300 hedge funds, a number of strategy indices and three hedge foreign exchange indices, for the U.S. dollar, Japanese yen and euro.

"The Japanese pension fund industry is currently reported to have almost US$100 billion invested in alternatives and in particular is undertaking a great deal of research into this area," Eurekahedge CEO Alexander Mearns said. "So with the launch of these indices we have provided the means for financial institutions to create products around these new indices to meet this demand."

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