Standard & Poors named 40 hedge funds that will make up its investible hedge fund index.
The funds comprise three style sub-indexes arbitrage, event-driven and directional/tactical according to a news release from S&P. The median assets under management of the funds is $530 million, and the average track record is six years, said Peter Roffman, vice president for S&Ps portfolio services. The company is expected to announce a launch date later this year. The entire list is available at
Separately, S&P is expanding its corporate consulting services to assist boards of directors, including audit committees, focusing on four areas of corporate board oversight: financial statements and disclosure; risk management and internal control effectiveness; quality of the financial reporting process; and board policies and procedures.
The services will help boards examine the quality and efficiency of their oversight work and advise on how to safeguard the integrity of the financial statement process.