The alternative assets group of Toronto-based RBC Capital Markets has launched a diversified hedge fund index comprised of 250 funds, which is about six times larger than other investable hedge fund indexes, according to the company.

The 250 funds represent about 20% of all hedge fund assets under management out of a total universe of 4,700 funds, including many funds that are now closed to new investors or have lock-up requirements - making it one of the broadest indexes representing the industry, said Winson Ho, co-head of the division and co-creator of the index.

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