October 5, 2005
NEW YORK, NY, October 5, 2005 --- CSFB/Tremont Index LLC announced today that the CSFB/Tremont Investable Hedge Fund Index ("Investable Index") has completed its routine semi annual rebalancing of funds.
The rebalancing resulted in the addition and removal of seven funds. The Investable Index is constructed on an objective, rules-based methodology, which includes the following criteria:
- Funds are selected from the CSFB/Tremont Hedge Fund Index;
- Funds generally represent the six largest eligible "open" funds in each of the ten sectors;
- Funds are determined by application of the Investable Index construction rules.
The funds that were added include Akanthos Arbitrage, Avenue International, Drake Absolute Return Fund Ltd., O'Connor Global Convertible Arbitrage, O'Connor Global Fundamental Market Neutral Long/Short, Thales and Winton. The new constituent funds were added as of October 1, 2005.
After the rebalancing, the sector weightings are as follows:
| ||Sector Weights |
At April 1, 2005 Rebalancing
|Sector Weights |
At October 1, 2005 Rebalancing
| 6.87% || 4.20% |
Dedicated Short Bias
| 1.72% || 1.92% |
| 5.27% || 5.66% |
Equity Market Neutral
| 7.17% || 9.22% |
| 16.74% || 16.95% |
Fixed Income Arbitrage
| 12.72% || 14.06% |
| 11.57% || 11.03% |
Long Short Equity
| 15.27% || 13.61% |
| 10.67% || 9.33% |
| 12.00% || 14.00%|
"The rules based construction of the Investable Index ensures its goals of representation and objectivity of the hedge fund industry with the addition of these funds," said Oliver Schupp, President of CSFB Tremont Index LLC. "The new member funds and sector weights represent the dynamic changes of the hedge fund industry."
Please visit our website www.hedgeindex.com for further information.
Credit Suisse First Boston Tremont Index LLC is the joint venture company of Credit Suisse First Boston Index Co., Inc., an affiliate of Credit Suisse First Boston Inc., and Tremont Capital Management, Inc. Credit Suisse First Boston Tremont Index LLC is headquartered at 11 Madison Avenue, New York, NY 10010-3629.
Credit Suisse First Boston (CSFB) is the trade name for the investment banking business of Credit Suisse and its subsidiaries and affiliates. CSFB is a leading global investment bank serving institutional, corporate, government and individual clients. Its businesses include securities underwriting, sales and trading, investment banking, private equity, financial advisory services, investment research, venture capital, correspondent brokerage services and asset management. CSFB operates in 69 locations in 33 countries across five continents. CSFB is a division of the Zurich-based Credit Suisse Group, a leading global financial services company.
Tremont Capital Management, Inc. is one of the leading global alternative investment management firms, whose business lines include research and investment management services, sale and distribution of its proprietary investment products. Tremont advises on over $13 billion in alternative investment assets. Through its information and market intelligence, the firm provides data on the performance of more than 3,000 alternative investment managers and funds. Tremont is headquartered in Rye, New York and has offices in Toronto, Bermuda and London.
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Certain statements in this Press Release constitute "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. The Companies assume no obligation to update these forward looking statements to reflect actual results, changes in assumption or changes in other factors affecting such forward looking statements.