Index Profile
Energy is the cornerstone of modern life and offers immense investment potential. For this reason, Gardner Group has developed the Gardner Energy MacroIndex calculated by Gardner Finance, a forward-looking index that unites all relevant developments within the international energy industry. With ever-rising need to a proper exposure into the global energy industry, the Gardner Energy MacroIndex (GEMI) is the perfect tool as its focus meets the goals and objectives of a broad exposure into all energy sectors. Thanks to this comprehensive approach, the Gardner Energy MacroIndex offers highly promising prospects.
The purpose of the Index is to provide a macro view on global energy markets by looking at the performance of selected investment vehicles belonging to the investment class "Energy Hedge Funds". Objective criteria, arranged in a proprietary selection matrix, are applied in selecting the energy hedge funds to be included in the Index as Components. The performance of the components forms the Index performance and is used as a basis for monthly calculations of the Index value.
Index Components
The Index includes components, representative of a careful hypothetical investment in the investment class "Energy Hedge Funds" to make it suitable for use as a benchmark by investors in international energy markets. Prior to inclusion in the Index, all potential Index components must undergo a standardized quantitative and qualitative analysis, which also serves to achieve a high level of consistency of the Index composition through continuity of included Index components.
Index Criteria
Components
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Minimum 20 components
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Sector Components
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Minimum 3 per sector, whereby one component may belong to more then one sector
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Volume
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90% or more of components must manage at least US$10M (based on index value)
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Audit
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90% or more of components must have an annual independent audit (based on index value)
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Redemptions
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80% or more of components must allow redemptions at least on a quarterly basis
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Notice Period
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75% or more of components must offer a maximum notice period of 90 days
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Reporting (e)
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Estimated monthly Net Asset Value must be reported within in 10 business days
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Reporting (c)
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Confirmed monthly Net Aset Value must be reported within 20 business days
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Qualiitative
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Measurement of Average Gain, Standard Deviation (ann.), downside Deviation, Sharpe Ratio, Skewness and Kurtosis
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Quantitative
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Assessment of Personnel and Organization, Security, Conflicts, Execution, Administration, Research and Data, IT
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Transparency
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Assesment of Process, Valuation, Risk, Position, Operational, Liquidity, Fees, Expenses
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Rating
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excellent performer |
| Category 2 |
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far exceeding median |
| Category 3 |
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exceeding median |
| Category 4 |
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median |
| Category 5 |
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below median |
| Category 6 |
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far below median |
Any component must reach a minimum rating of Category 3 or above at time of evaluation and inclusion in the index. Category evaluation is based on the quantitative and qualitative drivers of the index criteria.
Component Risk Diversification
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| Exploration & Development | |
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| Refining, Processing, Mining, Chemical | |
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| Pipeline & Transportation | |
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| Utility, Generation & Storage | |
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| Energy Trading (Derivatives) | |
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Exploratory Wells & Drilling |
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Development Wells & Drilling |
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Directional Drilling |
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Crude Oil & Natural Gas Production |
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Mineral Acquisitions |
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Field Services |
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Natural Gas Liquids |
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Compressor Stations |
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Refineries |
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LNG |
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Distillates |
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Gasoline |
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Alternative Fuels |
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Pipeline |
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Transportation |
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Shipping |
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Terminals |
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Utilities |
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Electric Generetion |
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Heat & Power Plants |
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Renewable Energy |
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Biomass & Hydro |
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Solar & Geo Thermal |
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Above- & Underground Storage |
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Distribution & Transmission Systems |
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Energy Derivatives (Exchange & OTC) |
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Electricity/Power |
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