The HFRI Institutional EH: Long/Short Directional Index is a global, equal-weighted index of single-manager funds that report to the HFR Database. The HFRI Institutional EH: Long/Short Directional Index is comprised of Equity Hedge funds that are not considered Equity Market Neutral. The HFRI Institutional EH: Long/Short Directional Index include funds that are classified as Fundamental Growth, Fundamental Value, Multi-Strategy, Quantitative Directional and sector-focused (i.e., Energy/Basic Materials, Healthcare and Technology).
HFRI Institutional Indices - Index Descriptions
The HFRI Institutional Indices Descriptions are listed below.
The HFRI Institutional Equity Hedge Index is a global, equal-weighted index of hedge funds with minimum assets under management of USD $500MM which report to the HFR Database and are open to new investments. The Equity Hedge funds that comprise the index are a subset of the HFRI Institutional Fund Weighted Composite Index. The index is rebalanced on an annual basis.
The HFRI Institutional Event Driven Directional Index is a global, equal-weighted index of single-manager funds that report to the HFR Database. The HFRI Institutional Event Driven Directional Index is comprised of Event Driven Funds that are classified as Special Situations, Credit Arbitrage and Distressed funds.
The HFRI Institutional Event Driven Index is a global, equal-weighted index of hedge funds with minimum assets under management of USD $500MM which report to the HFR Database and are open to new investments. The Event Driven funds that comprise the index are a subset of the HFRI Institutional Fund Weighted Composite Index. The index is rebalanced on an annual basis.
The HFRI Institutional Fund Weighted Composite Index is a global, equal-weighted index of hedge funds with minimum assets under management of USD $500MM which report to the HFR Database and are open to new investments. The index constituents are classified into Equity Hedge, Event Driven, Macro or Relative Value strategies. The index is rebalanced on an annual basis.
The HFRI Institutional Macro Index is a global, equal-weighted index of hedge funds with minimum assets under management of USD $500MM which report to the HFR Database and are open to new investments. The Macro funds that comprise the index are a subset of the HFRI Institutional Fund Weighted Composite Index. The index is rebalanced on an annual basis.
The HFRI Institutional Macro: Discretionary Directional Index is a global, equal-weighted index of single-manager funds that report to the HFR Database. The HFRI Institutional Macro: Discretionary Directional Index is comprised of Macro funds that are classified as Macro: Active Trading, Macro: Currency – Discretionary and Macro: Discretionary Thematic.
The HFRI Institutional Macro: Systematic Directional Index is a global, equal-weighted index of single-manager funds that report to the HFR Database. The HFRI Institutional Macro: Systematic Directional Index is comprised of Macro funds that are classified as Macro: Currency – Systematic and Macro: Systematic Diversified.
The HFRI Institutional Relative Value Index is a global, equal-weighted index of hedge funds with minimum assets under management of USD $500MM which report to the HFR Database and are open to new investments. The Relative Value funds that comprise the index are a subset of the HFRI Institutional Fund Weighted Composite Index. The index is rebalanced on an annual basis.
The HFRI Institutional RV: Fixed Income Directional Index is a global, equal-weighted index of single-manager funds that report to the HFR Database. The HFRI Institutional RV: Fixed Income Directional Index is comprised of Relative Value funds that are classified as RVA: Fixed Income - Sovereign, RVA: Fixed Income - Convertible Arbitrage, RVA: Fixed Income - Corporate and RVA: Fixed Income - Asset Backed.
The HFRI Institutional Strategy Weighted Composite Index is a global, strategy-weighted index of hedge funds with minimum assets under management of USD $500MM which report to the HFR Database and are open to new investments. The index constituents are classified into Equity Hedge, Event Driven, Macro or Relative Value strategies. The index is rebalanced on an annual basis.
The HFRI Institutional Strategy Weighted Composite Index is computed by applying the strategy weights of the HFRI Fund Weighted Composite Index (as measured by the number of funds in each hedge fund strategy as a percent of the total) and applies them to the performance of the corresponding HFRI Institutional strategy indices.
The HFRI InstitutionalTrend Following Directional Index is a global, equal-weighted index of single-manager funds that report to the HFR Database. The HFRI InstitutionalTrend Following Directional Index is comprised of funds that employ trend following strategies such as Macro: Currency – Systematic, Macro: Systematic Diversified, certain Macro: Multi-Strategy funds and other Macro funds that utilize, to some degree, trend following.