Press Releases & Announcements       
Back to Press Release & Announcement Index

March 10, 2008

Credit Suisse forms Strategic Alternative Beta Research Partnership with Professors Fung, Hsieh and Naik

New York, March 10, 2008 - Credit Suisse announced today the formation of a research partnership between its Beta Strategies group and Professors William Fung, David Hsieh and Narayan Naik, academic leaders in the areas of hedge fund and alternative beta research. The Beta Strategies group is Credit Suisse’s fiduciary quantitative index platform and is part of Funds and Alternative Solutions within Asset Management.

Professors Fung, Hsieh and Naik are widely-recognized as pioneers in researching the fields of alternative beta and hedge fund replication, having explored these topics from an academic perspective since 1994.  Professor Fung serves on the boards of financial services companies and holds the position of Visiting Research Professor of Finance at the BNP Paribas Hedge Fund Centre, London Business School.  Professor Hsieh is Bank of America Professor of Finance at the Fuqua School of Business, Duke University.  Professor Naik is Professor of Finance and Director of the BNP Paribas Hedge Fund Centre at the London Business School.

In this partnership, Credit Suisse and Professors Fung, Hsieh and Naik will focus on the research in support of ongoing development of alternative beta models designed to replicate the risk and return characteristics of hedge fund strategies and identification of alternative risk premiums.  These new alternative beta models will further enhance Credit Suisse’s quantitative replication platform capabilities.  Because such strategies will be executed through liquid securities such as futures, options and ETFs, access to the risk and return profile of hedge fund strategies may be achieved with full transparency and high levels of liquidity.

Steve Smith, head of Credit Suisse’s Funds and Alternative Solutions business said, “Our group has a longstanding tradition of providing clients with thought leadership and innovative investment solutions.  Clients are seeking transparent investment methodology, increased liquidity and costs in line with existing alpha and beta products.”

Oliver Schupp, head of Beta Strategies, went on to say, “Institutional investors demand a detailed understanding of the return sources in their portfolios and are willing to substitute alternative beta factors through cost-effective replication strategies. This new investment approach may ultimately allow investors to tactically adjust their portfolios to lower the expense ratio, enhance liquidity, hedge long positions and obtain a desired correlation.”

Professor Fung said, “Credit Suisse has been a leading provider of hedge fund benchmarks for many years. They have tremendous insight into the underlying factors that drive a broad array of hedge fund strategies’ performance.  The firm’s experience in managing quantitative hedge fund portfolios makes Credit Suisse an ideal partner to take the concept to the next level.” 

Credit Suisse is a leading provider of alternative investment solutions with a proprietary database of over 5,000 hedge funds in its indexing business and experience in managing hedge fund portfolios since 1998.

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 48,000 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 (CS), 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 and multiple-asset class products. Credit Suisse’s Asset Management business manages assets for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 23 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.

Information

Nadya Prashad, Credit Suisse, telephone 212 538 0859, nadya.prashad@credit-suisse.com

Meg Bode, Bode Associates, telephone 516 869 6610, meg@bodeassociates.com

Suzanne Fleming, Corporate Communications, Credit Suisse, telephone 212 325 7396, suzanne.fleming@credit-suisse.com


© 1999-2014 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.