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January 12, 2009

Credit Suisse/Tremont Hedge Fund Index Estimated to Finish Up 0.30% for December, Bringing 2008 Estimated Performance to -18.80%

New York, January 12, 2009  Early estimates indicate the Credit Suisse/Tremont Hedge Fund Index (“Broad Index”) will finish up approximately 0.30% in December (based on 74% of assets reporting).

 

Prompted by concerns with deflation, on December 16th the US Federal Reserve lowered the central Fed Funds rate to a range between zero and 25 bps, the lowest level since 1954. The move points to an expanded role by central banks, with the Fed announcing it would use “all available tools” to promote economic growth, including shifting troubled assets from private to public balance sheets by purchasing agency debt and mortgage-backed securities. The Fed’s announcement of its quasi-zero interest rate policy (ZIRP), was followed by the Bank of Japan cutting its overnight lending rate from 0.3% to 0.1%, and announcing that it would buy corporate debt for the first time. Other countries that implemented rate cuts included the European Central Bank, the UK, China, Switzerland, Australia, Taiwan and Korea.

 

Click here to view the complete release, including charts and individual sector returns.

 

 

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Certain information contained in this document constitutes “Forward-Looking Statements” (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “anticipate”, “target”, “project”, “estimate”, “intend”, “continue” or “believe”, or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.

 

Credit Suisse

Credit Suisse Tremont Index, LLC is the joint venture company of Credit Suisse Index Co., Inc., a subsidiary of Credit Suisse Co., Inc., and Tremont Group Holdings, Inc. Credit Suisse Tremont Index LLC is headquartered at 11 Madison Avenue, New York, NY 10010-3629.

 

As one of the world's leading banks, Credit Suisse provides its clients with private banking, investment 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 49,000 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.

 

Asset Management

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 private equity, real estate, hedge funds, 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 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.

 

Contact Information

Credit Suisse Hedge Fund Index Investor Relations, telephone +1 212 538 0583, hfindices.ir@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

 

 

 

 


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