October 28th, 2004
NEW YORK, NY, October 26, 2004 --- CSFB Tremont Index LLC has announced that the CSFB/Tremont Investable Hedge Fund Index has completed its second rebalancing of funds.
The six-month rebalance resulted in the addition and removal of eleven funds and the re-classification of one fund into another strategy-based sector. The index is constructed on an objective, rules-based methodology, which includes the following criteria:
- Funds are selected from the CSFB/Tremont Hedge Fund Index by an asset-based formula
- The funds generally represent the six largest eligible "open" funds in each of the ten sectors
- The funds are determined by application of the construction rules
The funds that were added include AlphaGen Altai, Aspect Diversified, Bridgewater Pure Alpha, Fletcher Income Arbitrage, FrontPoint Fixed Income Opportunties, Hermitage, Kingsford International, Plexus, Quattro, Standard Pacific Capital, and VR Distressed Assets.
After the rebalancing, the weightings are as follows:
| ||Sector Weights at April 1, 2004 ||Sector Weights At October 1, 2004 Rebalance |
|Convertible Arbitrage ||8.45% ||6.76%|
|Dedicated Short ||1.39% ||1.69%|
|Emerging Markets ||3.41% ||4.43%|
|Equity Market Neutral ||7.69% ||7.11%|
|Event Driven ||12.05% || |
|Fixed Income Arbitrage ||13.08% ||12.95%|
|Global Macro ||14.94% ||15.66%|
|Long/Short Equity ||16.24% ||15.95%|
|Managed Futures ||10.75% ||11.21%|
|Multi-Strategy ||12.00% ||12.00%|
"The primary goal of the Investable Index is representation," said Oliver Schupp, President of CSFB Tremont Index LLC. "The addition of these funds with more assets under management increases the representation of the index."
The 60 member funds of the CSFB/Tremont Investable Hedge Fund Index at the October 1, 2004 rebalance are as follows:
|Advisory U.S.||Alexandra Global Investment |
|AlphaGen Altai ||Alpine Associates|
|Arcas ||Argent LowLev Convertible|
|Ashmore ||Aspect Diversified|
|Avenue ||Bear Stearns Global|
|Brevan Howard ||Bridgewater Pure Alpha|
|BTOP ||Campbell Global|
|Canyon Value Realization ||Capital Fund|
|Castlerigg ||CDC MBS|
|Deephaven ||Everest Capital Frontier|
|Fletcher Income Arbitrage ||FrontPoint Fixed Income Opportunities|
Credit Suisse First Boston Tremont Index LLC is the joint venture company of Credit Suisse First Boston Index Co., Inc., a subsidiary 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 a leading global investment bank serving institutional, corporate, government and individual clients. CSFB's 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. The Firm is a business unit 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, and database sales and information services. Tremont advises on over $11 billion in alternative investment assets. Through its information and market intelligence unit, TASS Research, 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.
|For further information: ||Oliver Schupp ||(212) 712-7641|
| ||Robert I. Schulman ||(914) 925-1140 |
|PR Contacts: ||Meg Bode || |
| ||Victoria Harmon || |