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November 19, 2009

New Credit Suisse/Tremont Commentary Offers Insight Into October Hedge Fund Performance

New York, November 19, 2009 Hedge funds posted a slight gain for the month as market reversals muted performance. The Credit Suisse/Tremont Hedge Fund Index (“Broad Index”) finished up 0.13% for the month, bringing year to date performance to 15.11% through October 31, 2009.

 

A new monthly commentary offers insight into October hedge fund performance. Some key findings from the report include:

 

n         Dedicated Short Bias had the strongest performance, up 4.79%, the sector’s first monthly gain since February

 

n         Relative Value strategies had a strong month, in part by implementing heavy equity hedges ( Convertible Arbitrage), or by arbitraging changes in central bank policies such as the Reserve Bank of Australia’s benchmark rate hike (Fixed Income Arbitrage and Global Macro)

 

n         A number of hedge funds are reducing risk and winding down for the year, particularly those who were net-long the equity/global equity markets and have been able to take profits, while others, who were late to add risk, have continued to seek opportunities arising from the market volatility

 

n         While most equity indices were down for the month, Global Macro and Event Driven managers had positive months because of these strategies’ flexibility to make gains despite market reversals

 

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 which includes an overview of October hedge fund performance, in-depth commentary on individual hedge fund sectors and hedge fund return dispersion statistics for each strategy.

 

Information

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

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

 

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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.

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Copyright © 2009, CREDIT SUISSE GROUP AG and/or its affiliates.  All rights reserved.

 

 

 

 


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