( www.thestreet.com ) – One interesting development in hedge funds is the appeal of hedge fund vehicles pegged to an index.
Called investable hedge fund indices, these vehicles resemble a fund of funds, but instead just track a hedge fund index. A fund of funds manager selects a pool of hedge funds using his own research. Investable hedge fund indices already represent several billion dollars of investment — a drop of water in the $1 trillion hedge fund universe, but it’s growing.
