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Products April 10, 2003
Refco, PlusFunds Form Alternative Investment Partnership
April 10, 2003 (PLANSPONSOR.com) - Refco Group Ltd
LLC, and PlusFunds Group Inc have entered into a partnership
to develop alternative investment vehicles, including a
S&P tracking product.
Reported by Eric Hazard
The partnership will initially develop funds for institutions and individual investors seeking exposure to alternative investments via the S&P Managed Futures Index. This index was targeted due to its status as a global benchmark in the managed futures strategy.
“Standard & Poor’s created the S&P Managed Futures Index to meet marketdemand for a transparent and investable index that offers the risk andreturn characteristics of this currently popular alternative strategy,”said Paul Aaronson, executive managing director, Standard & Poor’s.“Products like the fund being developed by PlusFunds and Refco willenable investors to gain broad exposure to this strategy.”