New York (HedgeCo.Net) – A New York and Buenos Aires-based technical team yesterday launched an index with an app that allows users to follow hedge fund billionaires’ investment practices.
“The iBillionaire Index is designed to track and measure the performance of those who have, over time, reaped the biggest rewards on Wall Street: financial billionaires.” The start-up company said. “The index monitors the portfolios of leading billionaire investors, such as Warren Buffett, Carl Icahn, Daniel Loeb, David Tepper and David Einhorn.”
The index is composed of the top 30 large-cap equities listed on the S&P 500 in which financial billionaires have allocated the most funds, “Providing ample trading liquidity, a well-known benchmark, and better results to equity indexation than capitalization-weighted indices.” The company said, “Devised from 13F filings, the iBillionaire Index provides investors an efficient and effective way to follow the smart money. In essence, the index works as though one gathered a group of billionaires and asked them to come to a consensus as to which S&P 500 stocks are the best bets.”
The company was founded in 2013 by Raul Moreno and Alejandro Estrada. iBillionaire for iOS and iBillionaire for Android.
Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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