Lehman Brothers will launch new hedge fund indexes in the second...

Lehman Brothers will launch new hedge fund indexes in the second quarter. The series will include broad market benchmarks and investible indexes and will be constructed using quantitative techniques common to Lehman indexes for other asset classes, said Steve Berkley, managing director and global head of index products. While specifics remain to be determined, Mr. Berkley said the broad-market hedge fund indexes will be designed to eliminate or minimize some common problems such as survivorship bias and backfill. Lehman Brothers will base its new indexes on the HedgeFund.net database.