New Credit Suisse/Tremont Research Paper Reviews Hedge Fund Performance in the First Quarter
New York, May 7, 2009 Credit Suisse/Tremont Hedge Fund Index today released a new research piece, Q1 2009 Update: Hedge Funds Gain Traction in First Quarter. The report discusses first quarter performance, provides updated industry statistics and explores developing trends in the hedge fund space.
Despite continued market volatility, hedge fund returns appear to have stabilized in the first quarter as funds posted gains of 0.9% between January and March¾this is compared to a loss of 13% in the MSCI World Index and a 3% decline in the Barclays Global Aggregate Bond Index.* A new research paper, Q1 2009 Update: Hedge Funds Gain Traction in First Quarter, reveals:
n Despite positive performance, overall assets under management for the industry declined an estimated $163 billion between January and March. Total industry assets are now estimated at $1.3 trillion (as of March 31)
n As of March 31, an estimated 17% of funds were classified as impaired, meaning they have either imposed gate provisions, suspended redemptions or sidepocketed assets
n Global Macro, Managed Futures and Convertible Arbitrage appear to be gaining momentum and investor interest in the current environment
n Further consolidation of the hedge fund industry seems likely, potentially leaving surviving funds better positioned to capitalize on alpha generating opportunities
n Expect to see investors increase their focus on liquidity, transparency and cost efficiency
n Expect core/satellite approach to gain in popularity
* Past performance does not guarantee or indicate future results.
Credit Suisse Tremont Index LLC industry commentaries and publications are available on the Research section of our website, www.hedgeindex.com. Click here to view the full report.
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