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HFR introduces indices designed to track the performance of hedge funds investing in Asia

HFR introduces indices designed to track the performance of hedge funds investing in Asia

Hedge Fund Research Inc (HFR) has introduced five new indices designed to track the performance of hedge funds investing in Asian markets.

The five new indices are the HFRX Japan Index, HFRX Asia ex-Japan Index, HFRX Asia with Japan Index, HFRX Asia Equal Weighted Index, and HFRX Asia Composite Index.  The indices are constructed to accurately reflect the dynamic performance characteristics of the specific economic regions within the Asian hedge fund universe.

'Hedge funds focusing on Asian exposure - Emerging, Developed and a combination of both - continue to attract capital from hedge fund investors interested in accessing the tremendous growth of the Asian economies', says Kenneth J Heinz, president of HFR. 'Hedge fund exposure to Asian markets & situations is increasingly not only from Asian-based managers, but also from many European & US-based managers as well.'

Hedge funds maintaining direct Asian exposure manage over USD300bn in hedge fund capital, with hedge fund capital dedicated exclusively to the Asian region in excess of USD100bn, exempting significant capital deployed in the region by traditional asset managers or by funds of hedge funds. These allocations are maintained across nearly 800 hedge fund vehicles and over 400 management firms.

The Japan Index is constructed by combining and weighting hedge funds that maintain substantially all of their exposure to Japan, creating an accurate depiction of the Developed component of the Asian hedge fund universe. The Asia ex-Japan Index is constructed by combining and weighting hedge funds which maintain substantially all of their exposure to the dynamic economies of Emerging Asia, creating an accurate depiction of the Asia Pacific hedge fund universe outside Japan.

The Asia with Japan Index is constructed by combining and weighting hedge funds which maintain broad Pan-Asian exposure, including both Emerging and Developed Asia within a single strategy. The Asia Equal Weighted Index is constructed by combining hedge funds in each of the aforementioned indices with equal regional weightings to produce a balanced and accurate representation of the performance of the entire Asian region. The Asia Composite Index is constructed to be representative of the overall regional distribution of capital within the Asian hedge fund universe.  The Index is built on a 'regions-up' basis from the three regional indices and follows an asset-weighted approach to reflect changing capital allocations across the three regions.

All five of the HFRX indices are rebalanced quarterly.


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