May 3, 2005
NEW YORK, NY, May 3, 2005 --- To further enhance transparency in its index calculation, CSFB/Tremont has engaged Ernst & Young LLP ("Ernst & Young") to examine the monthly index values of the CSFB/Tremont Investable Hedge Fund Index.
Using descriptive and performance data provided to Ernst & Young by CSFB/Tremont, Ernst & Young has verified the Investable Index monthly values since its launch in August 2003 and their consistency with the Investable Index Rules.
Going forward, Ernst & Young will perform this service on a monthly basis for the Investable Index. Additionally, Ernst & Young will review the semi-annual rebalancings of the Investable Index to confirm that the addition and removal of funds are also consistent with the guidelines of the Investable Index Rules. The Investable Index Rules can be found on the Index Website (www.hedgeindex.com).
"The CSFB/Tremont Hedge Fund Indices have a long history of accuracy and transparency," said Oliver Schupp, President of Credit Suisse First Boston Tremont Index LLC and senior member of the Credit Suisse First Boston Hedge Fund Investments Group. "The introduction of an external verification through Ernst & Young of the historical Investable Index values and confirmation of their accurate calculation enhance this history. Using their services on a monthly basis should increase the confidence of the hedge fund industry in our Investable Index as the most representative and reliable benchmark."
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. 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.
For further information:
|Oliver Schupp || |
|Meg Bode || |
| ||John Gallagher || |