Dow Jones Suspends Convertible Arbitrage Index

Jan 9 2009 | 12:44pm ET

Dow Jones Hedge Fund Indexes said today that it has temporarily suspended publication of the Dow Jones Hedge Fund Convertible Arbitrage Strategy Benchmark, effective Jan. 2 until further notice.

Last month, DJ suspended publication of two other benchmarks, covering equity-market neutral and equity long/short strategies, leaving it with just three active benchmarks.
 
The decision to halt publication of the convertible arbitrage benchmark was made jointly by DJ and the investment manager of the managed-account platform that supports the Dow Jones Hedge Fund Strategy Benchmarks. DJ said the manager has taken steps to reduce the platform's exposure to the convertible arbitrage strategy and to reduce the number of managers on the platform that specialize in this strategy.

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Editor's Note