NEW YORK, April 5, 2011 (GLOBE NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, and UBS Investment Bank today announced the daily currency hedged versions of the Dow Jones-UBS Commodity Index.
Designed as benchmarks for non-U.S. dollar investors, these versions are calculated to reflect the hedging of foreign exchange risk on a daily basis. The indexes aim to provide an easily replicable basis for the creation of financial products, such as exchange-traded funds, for which it is important to enter into or terminate hedging transactions at that day's settlement value of the reference index.
The new indexes are available in excess return versions, which reflect the return of underlying commodity futures price movements and movements in foreign exchange rates only. Total return versions are also available, reflecting additional assumed return on cash collateral held in the relevant non-USD currency.
Dow Jones Indexes and UBS will publish the daily currency hedged versions together with the monthly hedged currency versions, the first of which launched in October 2008.
The following daily hedged indexes are currently available:
- Dow Jones-UBS Commodity Index Australian Dollar Hedged Daily;
- Dow Jones-UBS Commodity Index Canadian Dollar Hedged Daily;
- Dow Jones-UBS Commodity Index Swiss Franc Hedged Daily;
- Dow Jones-UBS Commodity Index Euro Hedged Daily;
- Dow Jones-UBS Commodity Index Pound Sterling Hedged Daily; and
- Dow Jones-UBS Commodity Index Yen Hedged Daily
"The new daily currency hedged versions of the Dow Jones-UBS Commodity Indexes will help meet a growing demand for non-U.S. dollar denominated investment tools in the commodity markets," commented Jon Fraade, Managing Director in the UBS Commodities group.
Michael A. Petronella, President, Dow Jones Indexes, added: "We believe these benchmarks will satisfy investors who wish to measure commodity markets while removing the additional risk of currency fluctuations from their portfolios."
As of March 25, 2011, assets totaling $76.9 billion tracked Dow Jones-UBS Commodity Indexes.
Further information on the daily currency hedged versions of the Dow Jones-UBS Commodity Index can be found at .
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About Dow Jones Indexes
Dow Jones Indexes () is a leading full-service index provider that develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best-known for the Dow Jones Industrial Average, Dow Jones Indexes offers more than 130,000 equity indexes as well as fixed-income and alternative indexes, including measures of hedge funds, commodities and real estate. Dow Jones Indexes employs clear, unbiased and systematic methodologies that are fully integrated within index families. Dow Jones Indexes is part of a joint venture company owned 90 percent by CME Group Inc. () and 10 percent by Dow Jones & Company, Inc. (), a News Corporation company (Nasdaq:NWS) (Nasdaq:NWSA) (ASX:NWS) (ASX:NWSLV) ().
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UBS draws on its 150-year heritage to serve private, institutional and corporate clients worldwide, as well as retail clients in Switzerland. We combine our wealth management, investment banking and asset management businesses with our Swiss operations to deliver superior financial solutions.
UBS is present in all major financial centers worldwide. It has offices in over 50 countries, with about 37% of its employees working in the Americas, 37% in Switzerland, 16% in the rest of Europe and 10% in Asia Pacific. UBS employs about 65,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
"Dow Jones®", "Dow Jones Indexes", "Dow Jones-UBS Commodity Indexes" and all other index names listed above are service marks of Dow Jones Trademark Holdings LLC ("Dow Jones"), and have been licensed for use by CME Group Index Services LLC ("CME Indexes"). Investment products based on the Dow Jones-UBS Commodity Indexes are not sponsored, endorsed, sold or promoted by Dow Jones, CME Indexes or their respective affiliates and none of Dow Jones, CME Indexes and their respective affiliates make any representation regarding the advisability of investing in such products. Inclusion of a company in any of the Dow Jones-UBS Commodity Indexes does not in any way reflect an opinion of Dow Jones, CME Indexes or any of their respective affiliates on the investment merits of such company. None of Dow Jones, CME Indexes or any of their respective affiliates is providing investment advice in connection with these indexes.
CONTACT: Dow Jones Indexes press offices: New York: +1-212-597-5720 London: +44-20-7796-7247