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February 16, 2000

February 16, 2000
-0.1% FOR JANUARY. Dedicated Short Bias Funds
Return 3.7% to Outperform All Indices. Eleven New Funds Added to Index

NEW YORK, February 16, 2000 --- The CSFB/Tremont Hedge Fund Index is down -0.1% for January 2000, according to Roland Lorenzo, President and Chief Operating Officer of Credit Suisse First Boston Tremont Index LLC. ''''After a very difficult year, short bias fund managers found opportunity in the untamed volatility we saw during January,''''said Mr. Lorenzo. ''''Up 3.7% for the month, the CSFB/Tremont Dedicated Short Bias Index is the top performing index on a global basis.''''
''''January performance illustrates the importance of diversification,'''' added Robert I. Schulman, President and Chief Operating Officer of Tremont Advisers. ''''The short bias and convertible arbitrage managers shined this month, while other styles languished, and proved that it is vital to have one''''s assets well diversified.''''
Performance for the CSFB/Tremont Hedge Fund Index and the nine style-driven sub-indices are calculated monthly. January 2000 and December 1999 returns for all categories are listed below and at

Category January 2000 December 1999
Master Index -0.1% 8.5%
Long/Short Equity 0.5% 13.0%
Emerging Markets -1.5% 15.3%
Global Macro -2.4% 9.2%
Event Driven 0.5% 3.1%
Equity Market Neutral 1.4% 1.0%
Convertible Arbitrage 2.6% 0.9%
Fixed Income Arbitrage 0.5% 1.0%
Managed Futures 0.0% 2.3%
Dedicated Short Bias 3.7% -6.6%

The CSFB/Tremont Hedge Fund Index returned 120.07% for the 73-month period since inception (January 1, 1994 through January 31, 2000).

For additional current and historical data including more comparisons with other widely followed global indices visit our web site

The Index is reselected on a quarterly basis, and eleven funds were added in January 2000: Arbitrage Associates LP, Argent Classic Convertible Fund (Bermuda) LP, Cygnus Offshore Fund Ltd, Essex High Technology USA LP, Fletcher Income Arbitrage Fund, Ltd, Manhattan International Partners Fund LP, Meditor European Hedge Fund B Ltd, MKP Offshore Partners Ltd., Rotella High Yield Fund Ltd, Strategic Growth Fund Ltd, and Zweig-DiMenna Partners LP. Four funds have been removed from the Index � one due to reclassification of its investment style, two ceased operations, and one due to a technical correction, as previously reported. Funds are added or removed so that the Index consistently represents 85% of the assets in the universe and reflects the shape of the universe.
The CSFB/Tremont Hedge Fund Index is comprised of 291 funds. The Index is constructed using the more than 2,600 hedge funds. It includes both US and off shore 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 COO, 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 over 14,000 employees. As of December 31, 1998, CSFB has $6.7 billion in revenues, $7.1 billion in equity and $291 billion in assets. The Firm is a wholly owned subsidiary of the Zurich-based Credit Suisse Group.

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.

© 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.