Hedge fund administrator GlobeOp Financial Services will launch a family of hedge fund indexes next week based on the aggregate data of its clients.
The first index, the GlobeOp Capital Movement index, will report on monthly net flows into the hedge funds of the company's fund administration clients the prior month, according to a news release. The index will launch on April 12.
The second index, the GlobeOp Forward Redemption Indicator index, will launch on April 21 and will track the amount of monthly redemptions divided by the total hedge fund assets of GlobeOp's fund administration clients.
Other indexes are planned for introduction later this year, including hedge fund returns, said Hans Hufschmid, GlobeOp CEO, in the release.
“Because data is calculated by GlobeOp across all our active administration clients each month, at the same point in time and using consistent mathematical methodology, the self-selection and self-reporting biases of many other indices are eliminated. In addition, because data is reported within days of the business month-end close, the delay factor inherent in some other indices is eliminated,” said Tony Glickman, a GlobeOp managing director, in the release.