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February 23, 2009

Looking Deeper: How Certain Hedge Fund Strategies Posted Positive January Returns Despite Negative Equity Markets

New York, February 23, 2008 Following six straight months of negative returns, the Credit Suisse/Tremont

Broad Hedge Fund Index posted a gain of 1.09% in January. A New Credit Suisse/Tremont Hedge Fund Index monthly commentary provides insight.

 

A new monthly publication from Credit Suisse/Tremont offers a 360 degree review of the events that shaped hedge fund performance over the previous month. The report includes:

 

n         A summary of global markets and an overview of hedge fund performance for January

n         In-depth commentary on individual hedge fund sectors

n         Hedge fund return dispersion statistics for each strategy

 

Convertible Arbitrage strategies outperformed all others in January –- posting 5.72% returns -- due to three major factors:  An appetite for risk returned to the financial markets, corporate bond spreads improved, and the emergence of crossover buyers.   Although convertibles were one of the worst performing strategies in 2008, we believe the strategy could rebound strongly in 2009 if conditions in the credit markets continue to improve.

 

Dedicated Short Bias managers also performed positively in January with a return of 3.69%, as short positions benefited from falling equity prices.

 

The commentary also notes that the hedge fund landscape going into 2009 looks considerably different than it did 12-months ago based on the Credit Suisse/ Tremont sector allocation.  For example, Long/Short Equity was the largest sector in the Broad Index, representing nearly 30% of all hedge funds in January 2009.  That sector has shrunk and now represents 23% of the Index and is now the second largest sector, behind Event Driven. 

 

Click here to view the complete commentary.

 

Credit Suisse Tremont Index LLC industry commentaries and publications are available on the Research section of our website, www.hedgeindex.com.

 

Information

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

 

Credit Suisse

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 47,800 people. Credit Suisse is comprised of a number of legal entities around the world and is headquartered in Zurich. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, 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 multi-asset class products, to alternative investments such as real estate, hedge strategies, 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 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.

 

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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.

 

 

 

 


© 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.