Credit Suisse/Tremont Investable Hedge Fund Index Is Up 0.99% in March
The Credit Suisse/Tremont Long/Short Equity Sector Invest Index Is Up 2.32% Net in March
NEW YORK -- The Credit Suisse/Tremont Hedge Fund Index is up 1.24% in March and up 3.34% for the first quarter of 2007 according to Oliver Schupp, President of the Credit Suisse Index Co., Inc.
"Despite getting off to a rocky start, global equity markets managed to recoup losses in the beginning of March and ended the month on a positive note. Markets were affected by remarks made by U.S. Federal Reserve Chairman, Ben Bernanke, that inflation is "uncomfortably high" promoting speculation that the U.S. central bank won't reduce interest rates to prop up the slowing economy, a weakening consumer confidence, and a growing housing slump," said Mr. Schupp. "Overall, this market environment has led to the estimation that eight of the ten hedge fund sectors will end March on a positive note. Long/Short Equity managers, in particular, were up 1.87% in March as industry themes and ongoing M&A activity provided stock specific opportunities, while superior stock selection paid off."
Performance for the Credit Suisse/Tremont Hedge Fund Index and its ten sub strategies is calculated monthly. March, February and year-to-date 2007 returns for all categories are listed below and at www.hedgeindex.com.
Category March 2007 February 2007 YTD 2007Credit Suisse/Tremont Hedge Fund Index 1.24% 0.74% 3.34%
Convertible Arbitrage 0.68% 1.16% 3.06%
Dedicated Short Bias -0.62% 0.77% 1.64%
Emerging Markets 1.96% 1.13% 3.20%
Equity Market Neutral 1.65% 0.47% 2.75%
Event Driven 1.27% 1.55% 4.96%
Distressed 1.27% 1.21% 4.25%
Event Driven Multi-Strategy 1.26% 1.81% 5.60%
Risk Arbitrage 1.29% 1.15% 2.66%
Fixed Income Arbitrage 0.90% 1.21% 2.25%
Global Macro 1.21% 0.50% 3.02%
Long/Short Equity 1.87% 0.71% 3.77%
Managed Futures -2.54% -4.38% -4.70%
Multi-Strategy 0.82% 1.20% 3.76%
S&P 500 DRI Index* 1.12% -1.96% 0.64%
Dow Jones World Index* 1.79% - 0.39% 1.39%
* Total Return Indices
The Credit Suisse/Tremont Hedge Fund Index value is 398.28 returning 298.28% for the 159-month period since inception (January 1, 1994 through March 31, 2007).
For additional current and historical data including more comparisons with other widely followed global indices, visit the Credit Suisse/Tremont Hedge Fund Index web site at www.hedgeindex.com.
The Credit Suisse/Tremont Hedge Fund Index is comprised of 432 funds as of March 31, 2007. The following funds no longer report to the Credit Suisse/Tremont Hedge Fund Index: Systeia Convertible Arbitrage and Globalvest Latin American.
The Index is constructed using the Credit Suisse/Tremont database of more than 4,500 hedge funds. It includes both open and closed funds located in the U.S. and offshore, but does not include fund of funds. In order to qualify for inclusion in the index selection universe, a fund must have a minimum of US $50 million under management, a 12-month track record, and audited financial statements. Index funds are selected using a formula based on assets under management. That ensures the Index represents at least 85% of total assets in each of ten strategy-based sectors in the selection universe. In order to minimize survivorship bias funds are not excluded until they liquidate or fail to meet the reporting requirements. The Index is calculated as a total return index on a monthly basis, adjusted for asset in- and outflow, including a reselection according to the procedure outlined above on a quarterly basis.
Return for the Credit Suisse/Tremont Investable Hedge Fund Index
The Credit Suisse/Tremont Investable Hedge Fund Index is up an estimated 0.99% net for the month of March 2007. The confirmed performance for February is up 0.09%.
Performance for the Credit Suisse/Tremont Investable Hedge Fund Index is calculated monthly. Returns for the months of March, February, and year-to-date 2007 are listed below and at www.hedgeindex.com. The return shown is net of a 0.07% calculation fee.
[TABLE OMITTED]The Credit Suisse/Tremont Investable Hedge Fund Index was launched with 60 funds and was set at a value of 100 on August 1, 2003. The funds currently included in the index are available on the website at www.hedgeindex.com.
The Credit Suisse/Tremont Investable Hedge Fund Index is designed to give investors broad exposure to hedge funds as an asset class. It fulfills investor demand for index-linked products created to reduce dependency on fund manager selection and fund concentration risk.
No comments:
Post a Comment