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November 15, 2001


November 15, 2001

CSFB/TREMONT HEDGE FUND INDEX IS UP 0.4% IN OCTOBER
Managed Futures Index is Top Performer -- Up 3.4%

NEW YORK, NY, November 15, 2001  --- The CSFB/Tremont Hedge Fund Index is up 0.4% for October 2001, according to Robert S. Sloan, Chief Executive Officer of Credit Suisse First Boston Tremont Index LLC.

"Absolute return strategies continue to provide risk diversification during this remarkably volatile time in the markets," said Mr. Sloan.  "The CSFB/Tremont Hedge Fund Index remains alone in the plus column year-to-date -- up 2.6% -- as other global indices are down double-digits despite improvements during October."

 "Managed futures programs outperformed all other strategies for the second month in a row, finishing the month up 3.4%," added Robert I. Schulman, President of Tremont Advisers.  "The diversification and trend-following nature of this strategy thrives on sustained volatility and provides insurance against downside risk."

Performance for the CSFB/Tremont Hedge Fund Index and the nine style-based sector indices are calculated monthly.  October 2001, September 2001 and year-to-date returns for all categories are listed below and at www.hedgeindex.com

Category Oct 2001 Sept 2001 YTD
CSFB/Tremont/Index 0.4% -0.8% 2.6%
Convertible Arbitrage 1.1% 0.7% 13.4%
Dedicated Short Bias -5.0% 2.9% 5.2%
Emerging Markets 2.2% -4.4% -2.9%
Equity Market Neutral 0.7% 0.0% 8.5%
Event Driven 1.4% -1.5% 9.4%
Fixed Income Arbitrage 1.5% 0.2% 8.1%
Global Macro 1.2% 1.2% 16.0%
Long/Short Equity -0.8% -1.6% -5.9%
Managed Futures 3.4% 3.6% 9.2%
Dow Jones Ind. Index 2.6% -11.1% -15.9%
MSCI EAFE Index 2.5% -10.3% -25.7%
MSCI World Index -1.9% -8.9% -22.8%
S&P 500 1.8% -8.2% -19.7%
Nasdaq 12.8% -17.0% -31.6%

The CSFB/Tremont Hedge Fund Index returned 137.05% for the 94-month period since inception (January 1, 1994 through October 30, 2001).
For additional current and historical data including more comparisons with other widely followed global indices, visit the web site at www.hedgeindex.com.

The CSFB/Tremont Hedge Fund Index is comprised of 372 funds as of October 1, 2001, down from 375 funds.  The Index is reselected quarterly, and 8 funds were added in October, while 11 were dropped. 

New funds in the Index include American Masters ''''AG Absolute Return Series'''' Ltd, Antares European Fund Ltd (Euro), Bricoleur Offshore Ltd, Clinton Riverside Convertible Fund Ltd (Class B), Dancing Bear Partners LP, EGM- EECO Fund International, LibertyView Global Volatility Fund Ltd and Quadriga Bet. AG.


Funds that were dropped include the following: Carl Marks Strategic Investments LP, Concordia Capital Ltd (Class B), The Convergence Portfolio Company LP, Cygnus Offshore Fund Ltd, Integral Hedging LP, Millennium-T Global Markets-Plus Ltd, Thoroughbred Limited Partnership I, Tontine Financial Partners LP, Tontine Partners LP, Waterville Associates Ltd and Wolverine LP.  Of the funds that were dropped, The Convergence Portfolio Company LP, Millennium-T Global Markets-Plus Ltd and Thoroughbred Limited Partnership I liquidated, Concordia Capital (Class B) is now reflected in the Index as a component of Concordia Capital (Class A), and all others will no longer report performance. 

The Index is constructed using a database of more than 2,600 hedge funds.  It includes both U.S. and offshore funds, but does not include funds of funds.  Funds are not excluded until they liquidate or fail to meet the financial reporting requirements, in order to minimize survivorship bias.  In order to qualify for inclusion in the universe, a fund must have US $10 million under management and an audited financial statement.  The Index is calculated on a monthly basis and adjusted for capitalization and return.

The CSFB/Tremont Hedge Fund Index, the only asset-weighted hedge fund benchmark, was designed to establish a standard for tracking and comparing hedge fund performance against other major asset classes, like the S&P 500, on a global basis.  Its web site provides interactive tools that allow users to manipulate the information and customize their research.

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 Advisers, Inc.  The company''''s management team includes from CSFB, Paul Calello, Managing Director, Robert S. Sloan, Managing Director, and Roland Lorenzo, Director, and from Tremont Advisers, Robert I. Schulman, President and Co-CEO.  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 banking firm serving institutional, corporate, government and individual clients. CSFB''''s businesses include securities underwriting, sales and trading, investment and merchant banking, financial advisory services, investment research, venture capital, correspondent brokerage services and online brokerage services. It operates in over 76 locations across more than 37 countries and 6 continents, and has some 28,000 staff worldwide. The Firm is a business unit of the Zurich based Credit Suisse Group, a leading global financial services company.

 Tremont Advisers, Inc. is an independent wholly owned subsidiary of Oppenheimer Acquisitions Corp., the parent company of OppenheimerFunds, Inc., one of the nation''''s most respected asset managers.  Tremont is a diversified holding company which, through its subsidiaries, is engaged in three core businesses: advisory services, information & research, and investment products for the global alternative investment industry.  Tremont holds leadership positions in each of its specialty areas and advises on approximately $8.5 billion in alternative investment assets.  Through its London-based information and market intelligence unit, TASS Research, the firm provides data on the performance of more than 2,800 alternative investment managers and funds.  Tremont manages in excess of $1 billion in proprietary funds and has more than $100 million in insurance policies related to alternative investments.

Tremont''''s wholly owned subsidiaries, Tremont Partners, Inc., and Tremont Securities, Inc. are registered as investment advisers under the Investment Advisers Act of 1940 and as a registered broker/dealer under the Securities Exchange Act of 1934, respectively.  Tremont is headquartered in Rye, New York and has offices in Toronto, Bermuda and London.


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: Robert S. Sloan (212) 325-2773 
    Roland Lorenzo 44 (207) 883-6102
    Robert I. Schulman (914) 925-1160

PR Contact:    Meg Bode  (516) 869-6610


© 1999-2014 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.