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June 20, 2000

June 20, 2000
Dedicated Short Bias Index is Top Performer - Up 6.1%for the Month.

NEW YORK, NY, June 20, 2000 --- The CSFB/Tremont Hedge Fund Index is down -1.2% for May 2000, according to Roland Lorenzo, President and Chief Operating Officer of Credit Suisse First Boston Tremont Index LLC.

Despite the roller coaster effects of the markets in general, hedge funds have provided fairly smooth returns, said Mr. Lorenzo. This illustrates clearly the efficacy of broad-based hedge fund investing. It''''s no surprise that dedicated short bias managers performed well in May boosting performance for diversified portfolios, said Robert I. Schulman, President and Chief Operating Officer Tremont Advisers. The CSFB/Tremont Dedicated Short Bias Index is up 6.1% for the month.Once again, we see that the power of hedging should never be underestimated.
Performance for the CSFB/Tremont Hedge Fund Index and the nine style-driven sub-indices are calculated monthly. May and year-to-date 2000 returns for all categories are listed below and at

Category May 2000 YTD 2000
CSFB/Tremont/Index -1.2% -1.9%
Convertible Arbitrage 1.9% 15.8%
Dedicated Short Bias 6.1% -3.2%
Emerging Markets -4.1% -4.8%
Equity Market Neutral 1.5% 7.6%
Event Driven 0.0% 2.7%
Fixed Income Arbitrage 0.0% 1.9%
Global Macro 2.3% -3.7%
Long/Short Equity -3.5% -4.2%
Managed Futures 0.6% -5.0%
Dow Jones Ind. Index -2.0% -8.5%
MSCI EAFE Index -2.5% -8.1%
MSCI World Index -2.6% -6.1%
S&P 500 -2.2% -3.3%

The CSFB/Tremont Hedge Fund Index returned 116.2% for the 77-month period since inception (January 1, 1994 through May 31, 2000). For additional current and historical data including more comparisons with other widely followed global indices, visit the website at

The CSFB/Tremont Hedge Fund Index is comprised of 308 funds. 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. Funds are reselected on a quarterly basis.

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 COO, and Nicola Meaden, Director. Credit Suisse First Boston Tremont Index LLC is headquartered at 11 Madison Avenue, New York, NY 10010-3629.

Credit Suisse First Boston is a leading global investment banking firm, providing comprehensive financial advisory, capital raising, sales and trading, and financial products for users and suppliers of capital around the world. It operates in over 60 offices across more than 30 countries and has more than 15,000 employees. As of December 31, 1999, CSFB has $9.8 billion in revenues, $7.8 billion in equity and $275 billion in assets. The Firm is a wholly owned subsidiary of the Zurich-based Credit Suisse Group. For more information on Credit Suisse First Boston, please visit our website at
Tremont Advisers, Inc. (TMAVB) is a diversified holding company which, through its subsidiaries, is engaged in three core businesses: consulting, 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 $6.5 billion in alternative investment assets. Through its London-based information and market intelligence unit, TASS Investment Research Ltd, the firm provides data on the performance of more than 2,600 alternative investment managers and funds. Tremont manages in excess of $500 million 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 (212) 325-2773
Robert I. Schulman (914) 925-1160
Nicola Meaden 44 (207) 222-0099

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.