Friday, 22 May 2015
Last updated 4 hours ago
Nov 4 2008 | 1:30am ET
The economic turmoil has already claimed more than a few hedge funds. Now, it can add a pair of benchmarks and an index to the casualty list.
Dow Jones & Co. said that it has suspended the publication of two of its hedge fund benchmarks and it’s Hedge Fund Balanced Portfolio Index. The firm made the move after Lyra Capital, which provides the benchmarks’ methodology, asked some underlying hedge funds to deleverage. The result, according to Dow Jones, was that the delivered hedge funds no longer represented the strategies broadly.
“The decision to halt publication of the benchmarks is the result of the temporary measures taken by the investment manager of the managed account platform that supports the Dow Jones Hedge Fund Strategy Benchmarks and Dow Jones Hedge Fund Balanced Portfolio Index,” Dow Jones said in a statement. It added that the suspensions will last “until further notice.”
The two benchmarks affected are those covering equity long/short and equity market-neutral strategies, two of the six benchmarks that make up the suspended Balanced Portfolio Index.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…