Goldman Sachs is to launch a commodities index with Clive Capital, the world's largest commodity hedge fund, the Financial Times reported on Monday citing a source familiar with the product.

The index will aim to minimize the risk of large losses by changing its exposure to individual commodities over time, the newspaper said, adding that Goldman has started marketing the index to its clients.

It will track 19 raw materials including crude oil, gold, wheat, sugar and live cattle, using the components of the Dow Jones-UBS benchmark as its starting point.

London-based Clive Capital will decide each month how much of each commodity the index should hold, the FT said.

Clive Capital was not immediately reachable for comment.

(Reporting by Karolina Tagaris; Editing by Himani Sarkar)