BarclayHedge announced the names of the twelve currency programs that will comprise the Barclay BTOP FX Index for the year 2010.
Launched in January 2005, the BTOP FX is the first daily index of currency traders and has monitored selected traders returns on a daily basis for the past five years.
The BTOP FX Index seeks to replicate the overall composition of the currency sector of the managed futures industry with regard to trading style and overall market exposure, says Sol Waksman, founder and president of BarclayHedge.
The Index allows investors and currency managers to accurately compare their returns with a recognized benchmark on a daily basis.
The BTOP FX Index was designed to be an investible subset of the more broadly based Barclay Currency Trader Index, which has data going back to 1987. There is currently no tracker fund available that attempts to replicate the performance of the BTOP FX.
The currency trading managers selected for the BTOP FX represent more than 50% of the investible assets of the Barclay Currency Traders Universe, says Waksman.
Taken together, the currency trading programs selected for inclusion in the 2010 BTOP FX have a total of US$11.6 billion in assets under management.
Requirements for Inclusion
The BTOP FX Index employs a top-down approach in selecting its constituents. The largest investable currency trading programs, as measured by assets under management, are selected for inclusion in the BTOP FX Index.
To be included in the BTOP FX Index, managers must also meet the following criteria:
The trading program/fund must trade exclusively currencies, either futures or interbank.The program must be open for investment.
Managers must be willing to provide Barclay with daily rates of return on a timely basis.
The BTOP FX Index is equally weighted among the selected programs at the beginning of each calendar year and is rebalanced annually.
2010 Barclay BTOP FX Index Components are:
FX Concepts, LLC Multi-Strategy ProgramFX Concepts, LLC Global Currency ProgramC-View Limited 3X Levered ProgramCambridge Strategy (Asset Management) Ltd. Extended Markets ProgramQFS Asset Management QFS Currency ProgramCurrency Insight Ltd. Diversified Systematic ProgramPremium Currency Advisors AG Premium Currencies ProgramHathersage Capital Management LLC. Long Term Currency ProgramIKOS CIF G10 Currency FundRhicon Currency Management (UK) Ltd. Strategic ProgramQuaesta Capital GmbH vTrader FX 2XLExcalibur Funds Management Pty Excalibur Absolute Return Fund
D.C.