TIDMGO.
GlobeOp Financial Services S.A.
09 May 2012
GlobeOp launches monthly Hedge Fund Performance Index
An independent, timely window on returns on capital invested
LONDON, NEW YORK - 9 MAY 2012 - GlobeOp Financial Services
(LSE:GO.) will launch an independent, asset-weighted hedge fund
performance index on May 15, 2012. The latest in a series of
monthly GlobeOp hedge fund indices, it is transparent, consistent
in underlying funds and data processing, and free from selection
and survivorship bias.
"The GlobeOp Hedge Fund Performance Index offers a timely and
true reflection of the aggregated return on capital invested in
funds on our administration platform," said Hans Hufschmid, chief
executive officer, GlobeOp Financial Services. "The Index does not
overstate exposure to, or the contribution of, any single strategy
to aggregated hedge fund performance. Its correlation to many
popular equity indices - such as the S&P 500 and the MSCI World
Index - is therefore substantially lower than other widely followed
hedge fund performance indices. Since its 2006 inception date, the
GlobeOp Hedge Fund Performance Index has had a correlation of
approximately 25% to 30% to these equity market indices. Fund
managers and investors will find the early fund performance
benchmarking useful. Both will gain comfort from the data
consistency and independence, and from the preservation of
individual client confidentiality."
The GlobeOp Hedge Fund Performance Index will report on actual
fund performance data independently collected from clients for whom
GlobeOp provides monthly administration services.
-- On the 10th business day of each month, the Performance Index
will provide a flash estimate of the aggregate gross performance
(net of management but not incentive fees) of funds administered by
GlobeOp
-- Interim and final values, both gross and net of management
and incentive fees, will be provided in each of the two following
months, respectively
-- The GlobeOp Hedge Fund Performance Index inception date is January 1, 2006
Although individual fund data is anonymized by aggregation,
Performance Index data will be based on the same reconciled fund
data GlobeOp uses to calculate fund net asset values (NAVs). These
rigorous processes are included in GlobeOp's annual SOC 1 Type II
examination. Online data charts can be segmented by gross and net
performance, and by time periods - useful for investors or fund
managers constructing their own performance benchmarks. GlobeOp's
total assets under administration represent approximately 10
percent of the estimated assets currently invested in the hedge
fund sector. The investment strategies of the funds in the GlobeOp
Indices span a representative industry sample.
Data for middle and back office clients who are not also fund
administration clients is not included in any of the GlobeOp
Indices, but is included in the company's results announcement
figures.
Commenting on the new index's methodology, Tony Glickman,
GlobeOp head of Client Solutions, said, "The Performance Index
completes the picture of fund and investor behavior provided by the
GlobeOp Hedge Fund Index family. Fund managers, asset allocators,
fund investors and academics welcomed the GlobeOp Hedge Fund
Performance Index in its trial phase, both as an early monthly
benchmark and as independent data with a low correlation to many
equity benchmark indices. Like our Capital Movement Index and
Forward Redemption Indicator, the Performance Index is calculated
by GlobeOp from monthly administration client data. Snapshots are
taken at the same point in time each month and use a consistent
methodology, eliminating the self-selection and self-reporting
biases of many other indices. In addition, because data is reported
within days of the business month-end, the delay factor inherent in
some other indices is eliminated."
Dr. Stuart Turnbull, Bauer Chair Professor, Bauer College of
Business, University of Houston, TX , said, "The family of indices
introduced by GlobeOp provides investors with an independent,
transparent, timely and accurate measure of aggregate fund
performance and investor activity with respect to subscriptions and
redemptions. The independent nature of the GlobeOp Hedge Fund
Performance Index avoids the 'backfill' bias caused by funds
deciding whether or not to report their returns. This family of
indices is a most welcome and needed addition to the tools used by
analysts in studying hedge fund performance."
From May 15, 2012 the GlobeOp Hedge Fund Performance Index will
be available on www.globeopindex.com, or through a link on the
homepage of www.globeop.com. Alert and RSS subscriber options are
available on www.globeop.com. Index Twitter comments: #HFindex.
- ends -
GlobeOp Financial Services
GlobeOp Financial Services (LSE:GO.) is an independent financial
administrator specializing in middle and back office services and
integrated risk-reporting to hedge funds, asset management firms
and other sectors of the financial industry -- including family
wealth, banks, insurance companies, pension funds and corporate
treasuries. By outsourcing to GlobeOp, clients can reduce their
technology investments and operational risks, while increasing
their focus on asset generation and portfolio management.
Established in 2000, GlobeOp serves approximately 200 clients
worldwide, representing $187 billion in assets under
administration. Headquartered in London and New York, GlobeOp
employs over 2,300 people on three continents through its 11
offices in the Cayman Islands, India, Ireland, the UK and US.
Further information: www.globeop.com; www.twitter.com/GlobeOp;
www.globeopindex.com.
About the GlobeOp Hedge Fund Index(R)
GlobeOp Financial Services (LSE:GO.) offers an independent
monthly window onto hedge fund capital flows following the launch
in April 2011 of the first indices in the GlobeOp Hedge Fund Index
family. It is the first index by a hedge fund administrator, and
offers clients, investors and the overall market transparency on
liquidity and investor sentiment based on a significant platform of
assets. The GlobeOp Hedge Fund Index is available on
www.globeopindex.com or through a link on the homepage of
www.globeop.com. Alert and RSS subscriber options are available on
www.globeop.com. Index Twitter comments: #HFindex.
The GlobeOp Capital Movement Index and the GlobeOp Forward
Redemption Indicator - provide monthly reports based on actual and
anticipated capital movement data independently collected from all
hedge fund clients for whom GlobeOp provides administration
services. The GlobeOp Hedge Fund Performance Index is an
asset-weighted benchmark of the aggregate performance of funds for
which GlobeOp provides monthly administration services. Flash
estimate, interim and final values are provided, in each of three
months, respectively, following each business month-end. While
individual fund data is anonymized by aggregation, Index data will
be based on the same reconciled fund data GlobeOp uses to produce
fund net asset value (NAV) reports. GlobeOp's total assets under
administration represent approximately 10 percent of the estimated
assets currently invested in the hedge fund sector. The investment
strategies of the funds in the Indices span a representative
industry sample. Data for middle and back office clients who are
not fund administration clients is not included in the Index but is
included in the company's results announcement figures.
GlobeOp, GlobeOp Hedge Fund Index and the GlobeOp "G" are trade
or service marks of GlobeOp and its affiliates
Media Contacts Financial Media Gill Ackers Tel. +44 (0)20 7404
5959 Email: goteam@brunswickgroup.com
Trade Media Caroline Beer Metia (UK) +44 (0) 203 100 3796
Caroline.Beer@metia.com
Sheryl Lee Metia (US) +1 917 320 6462 Sheryl.Lee@metia.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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