Morgan Stanley Capital International and Lyxor Asset Management will jointly offer an investible index of hedge funds, according to officials for both companies. It will initially comprise 60 hedge funds. Lyxor will select the funds and conduct due diligence, and MSCI will construct the index and maintain it. Investors will be able to invest and redeem funds on a weekly basis. MSCI also maintains its own database of 160 non-investible hedge fund indexes comprising more than 1,500 hedge funds.