October 7, 2004
NEW YORK, NY, October 7, 2004 --- Answering widespread investor demand, CSFB/Tremont Index LLC announced today that it has launched ten new investable hedge fund indices, designed to provide representative and objective benchmarks of the style-based investment strategies in the hedge fund universe.
The new investable indices, called the CSFB/Tremont Sector Invest Indices, are derived from the CSFB/Tremont Hedge Fund Index, the most widely quoted hedge fund index in the world with almost 400 constituent funds. The ten Sector Invest Indices currently include 114 funds.
The CSFB/Tremont Sector Invest Indices aim to achieve a high degree of representation and generally include the largest funds by assets under management that are open to investment and meet certain liquidity conditions in each of the following 10 style-based sectors: Convertible Arbitrage, Dedicated Short Bias, Emerging Markets, Equity Market Neutral, Event Driven, Fixed Income Arbitrage, Global Macro, Long/Short Equity, Managed Futures, and Multi-Strategy. The complete set of Sector Invest Index Rules can be found on www.hedgeindex.com beginning October 15.
"In constructing these ten investable sector indices, we relied on our long-term experience and proven transparent, objective construction methodology," said Oliver Schupp, President of Credit Suisse First Boston Tremont Index LLC. "We applied the rules-based selection process, minimizing subjectivity in fund selection, that was successfully introduced in the CSFB/Tremont Investable Index last year and remains an unmatched standard for hedge fund indices."
CSFB will offer investment products linked to the Sector Invest Indices, allowing investors to construct their portfolios according to their risk/return preferences and actively participate in the tactical asset allocation process.
Additional information about the CSFB/Tremont Sector Invest Indices will be available on www.hedgeindex.com on October 15.
Credit Suisse First Boston Tremont Index LLC is the joint venture company of Credit Suisse First Boston Index Co., Inc., CSFB Alternative Capital, Inc. and Tremont Capital Management, Inc. Credit Suisse First Boston Tremont Index LLC is headquartered at 11 Madison Avenue, New York, NY 10010-3629.
CSFB Alternative Capital, Inc. is a registered investment adviser and is affiliated with Credit Suisse First Boston (CSFB), 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, and database sales and information services. Tremont advises on over $11 billion in alternative investment assets. 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 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 (212) 538-8179
PR Contact: Meg Bode (516) 869-6610