NEW YORK, Nov. 3, 2008 (GLOBE NEWSWIRE) -- Dow Jones Hedge Fund Indexes, Inc. (DJHFI), today announced that it will temporarily suspend publication of the Dow Jones Hedge Fund Equity Long/Short and Equity Market Neutral Strategy Benchmarks, effective November 3 until further notice. The Dow Jones Hedge Fund Balanced Portfolio Indexes (DJHFBPIs) also will be suspended.
The decision to halt publication of the benchmarks is the result of the temporary measures taken by the investment manager of the managed account platform that supports the Dow Jones Hedge Fund Strategy Benchmarks and Dow Jones Hedge Fund Balanced Portfolio Indexes to temporarily reduce the risk profiles of some of its managers.
Index values for the Dow Jones Hedge Fund Equity Long/Short and Equity Market Neutral Strategy Benchmarks are available through October 31, 2008. No changes have been made to the Dow Jones Hedge Fund Strategy Benchmarks for Convertible Arbitrage, Distressed Securities, Event Driven and Merger Arbitrage, which will continue to be published on an end-of-day basis.
Launched in November 2003, the Dow Jones Hedge Fund Strategy Benchmarks measure individual hedge fund strategies. The six existing strategies are Equity Market Neutral, Convertible Arbitrage, Distressed Securities, Merger Arbitrage, Event Driven and Equity Long/Short(i). The Dow Jones Hedge Fund Balanced Portfolio Index reflects the performance of a portfolio that is allocated approximately equally among six strategies on an asset management platform that seeks to track the Dow Jones Hedge Fund Strategy Benchmarks.
DJHFI provides style-pure, hedge fund strategy indexes that exhibit highly correlated component returns. The methodologies and components underlying the Dow Jones Hedge Fund Strategy Benchmarks are available on the Dow Jones Hedge Fund Indexes Web site at www.djhedgefundindexes.com.
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(i) The Dow Jones Hedge Fund Equity Long/Short Benchmark was launched in October 2004.