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April 12, 2004

April 12, 2004

NEW YORK, NY, April 12, 2004  --- CSFB Tremont Index LLC has announced that the CSFB/Tremont Investable Hedge Fund Index has completed its first rebalancing of funds, according to Oliver Schupp, President of CSFB Tremont Index LLC.  

Mr. Schupp also announced that the products linked to the CSFB/Tremont Investable Hedge Fund Index ("the Investable Index") have resulted in $1.3 billion in inflows through the sale of index-linked products.  The Investable Index now represents total assets in its member funds of $72 billion after the rebalance on April 1, 2004. 

The initial six-month rebalance resulted in the addition of nine funds and the removal of seven funds.  The index is constructed on a 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 Maverick, Shepherd, III Fund, Mariner, York, Quadriga, Basso, Gramercy Emerging Markets, and Thai Focused.   The funds that were removed include Cerberus, Orbis Optimal, Concordia Capital, D.QUANT/Ramsey Futures, LIM Asia Arbitrage, OneWorld Sovereign Growth and Income, and Equalt Selection.   As previously announced, two funds were removed from the index prior to the rebalance as they were no longer eligible.  Implementation followed the procedures outlined in the CSFB/Tremont Investable Hedge Fund Index rules.

After the rebalancing, the weightings are as follows:

Sector Weights at August 1, 2003

Sector Weights After April 1, 2004 Rebalance

Convertible Arbitrage



Dedicated Short



Emerging Markets



Equity Market Neutral



Event Driven



Fixed Income Arbitrage



Global Macro



Long/Short Equity



Managed Futures






 "Hedge fund indices have overcome the long-time criticism that they are not investable and are now viewed as an option for investors seeking representative exposure to the asset class.  The growing demand and broad acceptance of the Investable Index is due to its access to a diversified spectrum of hedge funds in a fee-sensitive environment," said Oliver Schupp, President of CSFB Tremont Index LLC.  

 "Institutional investors understand and embrace indices as smart investments," said Robert I. Schulman, Co-Chief Executive Officer of Tremont Capital Management, Inc. "Hedge fund-linked index products provide a simple solution to investing in hedge fund strategies, which otherwise can be a daunting task for many investors."

The CSFB/Tremont Investable Hedge Fund Index was launched with 60 funds across 10 style-based sectors and is designed to give investors broad exposure to hedge funds as an asset class through index-linked products.  Performance for the index and the ten style-based sector indices is calculated monthly.   The funds currently included in the index are available on the web site at

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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 34 countries across five continents. The Firm is a business unit of the Zurich-based Credit Suisse Group, a leading global financial services company. For more information on Credit Suisse First Boston, please visit our Web site at

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 approximately $9 billion in alternative investment assets, including more than $1billion in its proprietary funds.  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, headquartered in Rye, New York with offices in Toronto, Bermuda and London, is a wholly owned subsidiary of Oppenheimer Acquisition Corp, the parent company of Oppenheimer Funds, Inc., one of the nation's most respected asset managers.

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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 Contact:                                    Meg Bode                      (516) 869-6610

© 1999-2017 Credit Suisse Hedge Index LLC. All rights reserved.Credit Suisse Hedge Fund Index was formerly known as Dow Jones Credit Suisse Hedge Fund Index from June 22, 2010 to September 15, 2013. Credit Suisse AllHedge Index was formerly known as Dow Jones Credit Suisse AllHedge Index from June 22, 2010 to September 15, 2013. Credit Suisse Blue Chip Hedge Fund Index was formerly known as Dow Jones Credit Suisse Blue Chip Hedge Fund Index from June 22, 2010 to September 15, 2013.