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PlusFunds launches new tracker for hedge fund index

PlusFunds Group, Inc. has introduced a new leveraged vehicle that tracks a hedge fund

This vehicle seeks to track the performance of the Standard & Poor's Hedge Fund Index on
a leveraged basis, by leveraging the investor's initial equity investment through additional
capital, obtained through direct borrowing or the use of derivative transactions.  It will seek
to maintain the targeted leverage multiple at a set level through regular rebalancing, although
liquidity and other constraints may prevent the realisation of such target.  

This new vehicle managed by PlusFunds intends to give similar benefits as existing S&P
Hedge Fund Index-linked vehicles, namely independent oversight, transparency, liquidity
and risk monitoring across institutional quality funds, by virtue of the systematic use of
separately managed accounts. 

Diego Winegardner, Vice-Chairman of PlusFunds, said: "The demand for a leveraged
vehicle that tracks the S&P Hedge Fund Index stems from our investors' increased comfort
level with the low volatility profile of the index. In roughly one year, the Index has firmly
established itself as an institutional benchmark for hedge fund investments, and as a basis
for multiple variations on the original theme."

Background Note: PlusFunds manages products for hedge fund managers and investors. 
PlusFunds has forged a broad alliance of global firms within the financial services industry
to improve both the accessibility and quality of information and oversight in the
marketplace, augmenting the benefits of hedge funds for institutions, private investors and
the professionals who advise them.

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