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April 09, 2010

Early View: Credit Suisse/Tremont Hedge Fund Index Posts Estimated Positive Performance of 2.09% in March

April 8, 2010: Early estimates indicate the Credit Suisse/Tremont Hedge Fund Index (“Broad Index”) will finish up +2.09% in March (based on 70% of assets reporting).

 

Key highlights for the month;

        Estimates indicate hedge funds are on track to post their highest returns since November 2009. Managed Futures was the best performing sector in the period, returning an estimated 4.84% in March, with trend followers posting the highest returns within the sector. Gains were largely generated from trades in equities, crops, base metals and particularly from short exposures to the Euro and Sterling. 

        Emerging Markets returned an estimated 3.62% in March, making a comeback from the previously negative returns seen in the first two months of 2010. Returns were largely driven by profitable currency trades and strong equity performance across emerging markets.     

        Event Driven finished up an estimated 3.36% in March. Credit driven situations were the main drivers of returns in the space, as managers benefited from strong credit markets, which, in turn, were bolstered by a record level of junk bond sales. 

        Long/Short Equity funds returned an estimated 3.04% last month, as global equity markets rallied following various positive economic indicators. Conversely, Dedicated Short Bias managers struggled throughout the month, finishing down an estimated 6.21%.

        Global Macro experienced mixed performance and finished almost flat for the month. Managers with long exposures to sovereign credit finished in negative territory, while those with currency and equity focus typically performed well.

Strategy Estimates                                        

Index

Mar-10

Feb-10

2010

CS/Tremont Hedge Fund Index

2.09%

0.68%

2.96%

Convertible Arbitrage

2.20%

0.47%

3.68%

Dedicated Short Bias

-6.21%

-3.20%

-8.97%

Emerging Markets

3.62%

-0.45%

2.37%

Equity Market Neutral

0.57%

-1.35%

-0.69%

Event Driven

3.36%

0.44%

5.29%

     Distressed

3.52%

0.29%

5.92%

     Event Driven Multi-Strategy

3.30%

0.57%

4.82%

     Risk Arbitrage

0.47%

0.30%

1.17%

Fixed Income Arbitrage

1.34%

0.07%

3.46%

Global Macro

0.06%

1.10%

2.24%

Long/Short Equity

3.04%

1.32%

2.83%

Managed Futures

4.84%

1.81%

2.67%

Multi-Strategy

1.03%

0.56%

2.16%

MSCI World

5.93%

1.23%

2.74%

Barclays Capital Aggregate Bond Index

-0.76%

0.07%

-0.27%

DJ-UBS Total Return Commodities Index

-1.24%

3.71%

-5.03%


           

Estimates are based on 70% of assets reporting; final March performance will be published April 15th on Bloomberg and online at www.hedgeindex.com. For a complete description of the Credit Suisse/Tremont Hedge Fund Index, please see the index rules available at www.hedgeindex.com.

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. 

 

Contact Information

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

 

Credit Suisse AG

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 47,400 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 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.

Disclosure

This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change without obligation to update. It has been prepared solely for information purposes and for the use of the recipient. It is not a research report. It does not constitute an offer to buy or sell securities or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not a guide, guarantee or indicator of future results. The information and analysis contained in this publication have been compiled or arrived at from third party sources believed to be reliable by Credit Suisse  but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.

 

 Copyright © 2010, CREDIT SUISSE GROUP AG and/or its affiliates.  All rights reserved.

 

 

 

 


© 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.