New Star Asset Management is making a third offering of Hedge ETS, a London-listed daily tradeable security designed to be a representative, investable benchmark of the performance of the hedge fund asset class with extensive diversification across over 250 hedge funds and nine distinct strategies. It is asset-weighted by strategy, approximately equally-weighted initially by hedge fund and with a rules-based construction methodology aiming to emphasise inclusiveness and minimise selection bias. It also has selection criteria inclusive of hedge funds which may have lock-ups, redemption gates, low liquidity and which are presently closed to investment. Ravi Anand, director at New Star, said: “Hedge ETS offers access to the performance of the hedge fund universe through a representative index, with the added benefit of daily liquidity. This third offering is in response to strong demand from investors. We expect interest from institutional investors and wealth managers seeking to benefit from the portfolio diversification benefits provided by hedge fund returns.” New Star’s two previous offerings attracted investors from 20 different countries, in particular Spain, Switzerland, the UK and offshore jurisdictions, raising over $250 million. Leveraged and unleveraged share classes are offered. Under the placing, both are available in Euro, sterling and US dollars, with a minimum investment of €50,000, £40,000 and $75,000 respectively.