FTSE Group says that Barclays Group has licensed its FTSE Hedge Index as the basis for an investment product for retail investors, named The Woolwich Protected FTSE Hedge Plan.
The FTSE Hedge Index, which was launched in June 2004, cuts through the complexity of this alternative asset class. It currently consists of 40 open and investable hedge funds, representing a cross-section of hedge fund strategies. FTSE calculates both daily and monthly values for the index.
FTSE says the FTSE Hedge Index has strict constituent entry requirements, including independently audited financial accounts, monthly reporting, a minimum of US$50 million AUM and a minimum two-year track record.
“We are very pleased that the Barclays Group has chosen to select FTSE Hedge Index as the basis for its investment product,” says Paul McLean, Marketing Director of FTSE Group. “The FTSE Hedge Index provides the most accurate measurement of the investable global hedge fund universe, allowing institutions and individuals to gain exposure to this exciting alternative investment market.”
“We are delighted to be offering the first retail investment product linked to the FTSE Hedge Index,” adds Colin Dickie, product development manager at Woolwich Plan Managers. “The strict eligibility criteria for constituents of FTSE Hedge and the investible nature of the index make it an ideal basis for a product aimed at private investors such as the Woolwich Protected FTSE Hedge Plan.”