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Novus maintains a proprietary aggregate data index called the Novus Hedge Fund Universe that is based on public disclosures from approximately 1,500 hedge fund managers, and weighted on reported market value. Novus divides this data index into seven portfolio categories, shown to the right.
The Fundamental Equity category is used for Novus’ research on conviction, and is now leveraged for the Novus Barclays Public Ownership Hedge Fund Conviction Index Family.
The Fundamental Equity category includes long-short, long-only, market-neutral, and event-driven strategies.
“We are very pleased to be able to leverage Novus’ unique expertise in this space to launch these indices.”
Benedict Redmond – Director EFS Solutions
Barclays has partnered with Novus to develop an investable index family which identifies high conviction stocks from within the hedge fund universe, based on public regulatory filings. The Public Ownership Hedge Fund Conviction Index Family represents portfolios comprised of liquid stocks in which multiple hedge funds have invested with conviction.
Conviction reflects a manager's skill in stock picking and position sizing.
When a stock accounts for a large portion of a manager’s portfolio, the stock is considered an investment with conviction. Novus' research shows that the high conviction portion of a manager’s portfolio tends to outperform both its low conviction portion and also broader market benchmarks.
As described above, these indices rely solely on the analysis of publicly available holdings (known as 13F filings) of equity-linked hedged funds. Our clients’ private data will not be impacted or shared in this index. Novus client data is not analyzed, integrated, or referenced for any partnership.
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Disclaimer: This material should not be construed as an offer to sell or the solicitation of an offer to buy any security, which may only be made by prospectus or other offering document. Novus is not soliciting any specific action based on this material. It does not constitute a recommendation or take into account the particular investment objectives, financial conditions, or needs of individual clients.