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Products February 6, 2004
Refco Securities Creates New Fund
February 6, 2004 (PLANSPONSOR.com)Refco Securities,
LLC announced the S&P Managed Futures Index Fund, LP, a
fund intended to seek investment returns by following the
S&P Managed Futures Index before fund expenses.
Reported by Alison Cooke
The S&P Managed Futures Index is 14 accounts that use systematic trading strategies in the futures markets and are maintained by registered commodity trading advisors.
The fund will be distributed by Refco Securities, LLC, the broker dealer subsidiary of REFCO Group Ltd., LLC and will be sold though a select group of US broker-dealers, a press release announced.
An alternative asset manager division of the company, RefcoFund Holdings, LLC, will be general partner of the Fund, and will be responsible for allocating the fund’s assets to the SPhinX Managed Futures Fund SPC, the release said. A list of SPhinX index constituents, methodology and daily index values can be found on www.hedgefundindex.standardandpoors.com .
The initial offering period will have units available for $1,000 per unit, with a minimum initial investment of $10,000 with $3,000 for an individual retirement account, and then $2,500 for subsequent investments.
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REFCO Group Ltd., LLC is a diversified financial services organization with operations in 14 countries.
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