New Dow Jones Credit Suisse Hedge Fund Index Commentary Offers Insight into November Hedge Fund Performance
New York, December 21, 2012 - The Dow Jones Credit Suisse Hedge Fund Index finished up 0.64% in November. A new monthly commentary offers insight into hedge fund performance through the month of November. Some key findings from the report include:
Hedge funds, as measured by the Dow Jones Credit Suisse Hedge Fund Index, finished November up 0.64%, with 9 out of 10 strategies in positive territory;
In total, the industry saw estimated outflows of approximately $1.3 billion in November, bringing overall assets under management for the industry to approximately $1.76 trillion;
The Fixed Income Arbitrage and Equity Market Neutral sectors experienced the largest asset inflows on a percentage basis, with inflows in November equal to 2.64% and 1.06% of the October 2012 levels, respectively;
Event Driven funds generally sustained positive performance in November. Contributors for the month were a diversified mix of long positions from credit strategies, namely stressed and distressed names, as well as special situation equities, and risk arbitrage; and
Long/Short Equity funds finished November in positive territory, though the first half of the month was poor for equity markets, driven by continued weak earnings numbers and some mixed economic data. Return drivers for the month for managers included Consumer Discretionary and Staples exposure, European Banks exposures, and select Health Care exposure.
Industry commentaries and publications are available in the "News" section of our website, www.hedgeindex.com. Click here to view the full report which includes an overview of November hedge fund performance, in-depth commentary on individual hedge fund sectors and hedge fund return dispersion statistics for each strategy.
Katherine Herring, Corporate Communications, +1-212-325-7545, firstname.lastname@example.org
S&P Dow Jones Indices
Dave Guarino, +1-212-438-1471, email@example.com
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Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse is able to offer clients its expertise in the areas of private banking, investment banking and asset management from a single source. Credit Suisse provides specialist advisory services, comprehensive solutions and innovative products to companies, institutional clients and high net worth private clients worldwide, and also to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 48,400 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com
Copyright © 2012, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
Source: Credit Suisse Asset Management, LLC, 2012.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
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