CHARLOTTE, N.C.--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) today announced the launch of the Wells Fargo Hedge Fund Manager Holdings Index® (ticker: HEDGE). The Index measures the real-time performance of the 100 largest positions in equities and equity-related securities as reported quarterly to the Securities and Exchange Commission (SEC) by hedge funds or managed accounts. The Index represents modified market capitalization weighted to provide diversified exposure in the market. The securities are required to be listed on the NYSE or NASDAQ and to satisfy specific market capitalization and other eligibility requirements.
“Aggregating hedge fund holdings and illustrating the performance through an index will bring greater transparency to the sector,” said Dan Forth, head of strategic indexing for Wells Fargo. “We believe the index will provide investors with a unique tool to help better manage their own portfolios, by providing them with a benchmark for measuring hedge funds’ performance in the market.”
The value of the Index will be disseminated by NYSE every 15 seconds over the Consolidated Tape Association’s Network B between the hours of 9:30 am and 4:15 pm EST/EDT under the ticker symbol “HEDGE.”
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.