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Credit Suisse/Tremont Hedge Fund
The Credit Suisse/Tremont Blue Chip Investable Hedge Fund Index (“INVX”) Is Up 2.33% for the First Quarter of 2007
The Event Driven Sector Is the Best Performing Strategy Up 6.67% for the First Quarter of 2007
New York, May 1, 2007-- Credit Suisse Index Co., Inc
released today its first quarter performance review for 2007,
revealing positive news for the Credit Suisse/Tremont Blue Chip Investable Hedge Fund Index that finished the quarter up 2.33%,
according to Oliver Schupp, President of the Credit Suisse
Tremont Index, LLC.
“We are pleased to present our quarterly review analyzing the
performance of the Credit Suisse/Tremont Hedge Fund Indices for
the first quarter of 2007,” said Mr. Schupp. “Hedge fund
managers experienced a strong first quarter thanks to a
favorable market environment that allowed nine of the ten hedge
fund strategies to produce positive quarterly results. Record
highs in mergers and acquisition activity, a decision by the Fed
to leave interest rates unchanged, high volatility and a
steepening of the yield curve all contributed positively to
hedge fund performance for the first quarter of 2007.”
Highlights for all Credit Suisse/Tremont Hedge Fund Indices in
the first quarter of 2007 include:
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Consistent positive performance of the Credit Suisse/Tremont
Hedge Fund Index leads to a strong first quarter for
index-linked products.
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Event Driven, Long/Short Equity and Multi-Strategy were the top
performing sectors of the quarter for the Credit Suisse/Tremont
Hedge Fund Index
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The Credit Suisse/Tremont Blue Chip Investable Hedge Fund Index
posted positive returns for every month this quarter.
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Nine of the ten Credit Suisse/Tremont Sector Invest Indices
performed positively for the quarter with particularly strong
performance from Event Driven, Long/Short Equity and
Multi-Strategy.
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Quarter-to-date INVX outperformed, on a gross basis*, several
competing investable indices. The INVX finished up 2.54%,
as compared to the Hedge Fund Research HFRX Global Hedge Fund
Index (“HFRX”), up 1.58% and the MSCI Hedge Invest Index (“MSCI”)
that was up 1.57%.
The full first quarter performance review is available on the News
and Press section of our website,
www.hedgeindex.com.
*INVX returns are presented gross of a 0.07% monthly
management fee.
Sources: All performance data shown above is taken from Credit Suisse Tremont
Index LLC, www.hedgeindex.com, www.msci.com, www.hfr.com. MSCI and HFR Index
data was obtained from publicly available sources. Credit Suisse Tremont LLC
does not guarantee the accuracy of such data
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Category* |
Q1 2007 |
|
Credit
Suisse/Tremont Hedge Fund Index |
3.34% |
|
Credit
Suisse/Tremont Blue Chip Investable Hedge Fund Index
|
2.33% |
|
Sector Invest
Convertible Arbitrage |
2.35% |
|
Sector Invest
Dedicated Short Bias |
1.04% |
|
Sector Invest
Emerging Markets |
1.18% |
|
Sector Invest
Equity Market Neutral |
2.03% |
|
Sector Invest
Event Driven |
5.29% |
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Sector Invest
Fixed Income Arbitrage |
1.81% |
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Sector Invest
Global Macro |
2.27% |
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Sector Invest
Long/Short Equity |
3.88% |
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Sector Invest
Managed Futures |
-5.80% |
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Sector Invest
Multi-Strategy |
3.56% |
* Returns for INVX and the Sector Invest Indices are
presented net of fees, while the Broad Index is presented on a gross
basis.
Information
Oliver Schupp, Credit Suisse, telephone 212 538 8179, oliver.schupp@credit-suisse.com
Meg Bode, Bode Associates, telephone 516 869 6610, meg@bodeassociates.com
Suzanne Fleming, Credit Suisse, telephone 212 325 7396, suzanne.fleming@credit-suisse.com
Credit Suisse
As one of the world's leading banks, Credit Suisse provides its clients
with investment banking, private banking and asset management services
worldwide. Credit Suisse offers advisory services, comprehensive
solutions and innovative products to companies, institutional clients
and high-net-worth private clients globally, as well as retail clients
in Switzerland. Credit Suisse is active in over 50 countries and employs
approximately 62,500 people. Credit Suisse's parent company, Credit
Suisse Group, is a leading global financial services company
headquartered in Zurich. Credit Suisse Group's registered shares (CSGN)
are listed in Switzerland and, in the form of American Depositary Shares
(CSR), in New York. Further information about Credit Suisse can be found
at www.credit-suisse.com.
In its asset management business, Credit Suisse offers products across
the full spectrum of investment classes, ranging from equities, fixed
income and multiple-asset class products, to alternative investments
such as real estate, hedge funds, private equity and volatility
management. Credit Suisse’s asset management business manages
portfolios, mutual funds, and other investment vehicles for a broad
spectrum of clients ranging from governments, institutions and
corporations to private individuals. With offices focused on asset
management in 18 countries, Credit Suisse’s asset management business is
operated as a globally integrated network to deliver the bank’s best
investment ideas and capabilities to clients around the world.
The asset management business of Credit Suisse is comprised of a number
of legal entities around the world that are subject to distinct
regulatory requirements; certain asset management products and services
may not be available in all jurisdictions or to all client types. # # # # #
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.
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