Ernst and Young New Zealand Absolute Return index ...

The New Zealand Absolute Return Association Inc (NZARA pron: “en-zara”), the organization representing the New Zealand hedge fund, CTA and absolute return equity industry in New Zealand, has recently launched the Ernst and Young New Zealand Absolute Return Index.

The index is narrow, reflecting a small but innovative industry, with initially only seven constituent managers, but represents a cross section of the global industry with global equities, trend-following, long volatility and commodities all represented in the index.

Since inception (data collection started in July 2007), the index has returned over 25%. Year to date in 2008, the index has returned 12.4% with a +3.86% performance in September.

Chairman of NZARA, Anthony Limbrick said “Considering most indices are struggling to post gains on a year-to-date basi......................

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Ernst and Young New Zealand Absolute Return index ...