New Credit Suisse/Tremont Hedge Fund Index Research Paper Reviews Hedge Fund Performance Through the Third Quarter of 2009
New York, October 21, 2009 Credit Suisse Tremont Index LLC today released a new research piece, "Q3 2009 Hedge Fund Update: On the Road to Recovery" that reviews third quarter hedge fund performance with a focus on the ongoing recovery of the overall industry.
The report explores the year-to-date performance of hedge funds as represented by the Credit Suisse/Tremont Hedge Fund Index, which are currently on track to post their best annual returns in 10 years. Through September 30, 2009, the Credit Suisse/Tremont Hedge Fund Index is up 15% with 83% of all funds posting positive performance.
Some key takeaways from the report include:
n 26% of all hedge funds have “fully recovered” their losses from 2008, i.e., they have regained all losses to meet or surpass previous peak performance levels.
n Overall, the industry experienced net outflows of $4.8 billion in the third quarter.
n Sizeable redemptions occurred in the Event Driven sector, resulting in a net outflow of $7.4 billion for the quarter.
n The Long/Short Equity sector experienced the most significant increase in new capital, resulting in a net positive flow of $3.0 billion for the quarter.
n Including performance gains, total hedge fund AuM is estimated at $1.4 trillion as of September 30, 2009. This is up from an estimated $1.3 trillion as of June 30, 2009.
Note: Asset flows based on information provided by underlying funds within the Credit Suisse/Tremont Hedge Fund database as of September 30, 2009.
Credit Suisse Tremont Index LLC industry commentaries and publications are available in the Research section on www.hedgeindex.com. Click here to view the full report.
Credit Suisse Hedge Fund Index Investor Relations, telephone +1 212 538 0583, email@example.com
Meg Bode, Bode Associates, telephone 516 869 6610, firstname.lastname@example.org
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 46,700 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.
In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including alternative investments such as private equity, hedge funds, real estate and credit, as well as multi asset class solutions, which include equities and fixed income products. 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 21 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.
All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.
# # # # #
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.
The investment views and market opinions/analyses expressed herein may not reflect those of Credit Suisse as a whole and different views may be expressed based on different investment styles, objectives, views or philosophies. No part of this material may be reproduced or retransmitted in any manner without the prior written permission of Credit Suisse. Copyright © 2009, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.