Dow Jones Suspends Market-Neutral Index Again

Nov 9 2009 | 10:40am ET

For a hedge fund index provider, Dow Jones Hedge Fund Indexes is providing precious few hedge fund indices these days.

The firm suspended publication of its equity-market neutral index on Friday, the sixth time it has suspended and index since the beginning of the financial crisis. Dow Jones is now publishing just three of its six hedge fund indices, equity long/short, event-driven and merger arbitrage.

Dow Jones blamed “market conditions in the equity market neutral space” for the decision. It is the second time in just a year that the firm has suspended the equity-market neutral benchmark; after being put on the shelf in December, the index returned in March.

In addition to the equity-market neutral index, the convertible arbitrage and distressed securities benchmarks are also currently suspended.

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