S&P Unveils Long/Short Hedge Index

May 17, 2004 (PLANSPONSOR.com) - Standard & Poor's has launched the S&P Equity Long/Short Index, the index and research company announced.

The S&P Equity Long/Short Index starts with the five Equity Long/Short funds represented in the flagship S&P Hedge Fund Index and adds 19 new funds to create a separate build-out index that is more representative of hedge funds employing this strategy.

The S&P Equity Long/Short Index is designed to represent the range of hedge funds that relies on fundamentally driven, bottom-up research for long and short equity selection, typically attempting to create a separate alpha for both long and short positions, while limiting overall portfolio risk, the company said.

The S&P Equity Long/Short Index includes 24 funds screened for asset size, tenure, and strategy purity.   The index includes two regional sub-indices: one with a U.S. focus and one with a Global-Ex-U.S. focus, each comprising 12 funds.

More information is at  http://www.sp-hedgefundindex.com .