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May 10, 2010

Early View: Credit Suisse/Tremont Hedge Fund Index Posts Estimated Positive Performance of 1.49% in April

May 10, 2010: Early estimates indicate the Credit Suisse/Tremont Hedge Fund Index (“Broad Index”) will finish up +1.49% in April (based on 74% of assets reporting).

 

Key highlights for the month;

        Estimates indicate hedge funds continued to post positive returns into the second quarter with eight out of ten sectors finishing April in positive territory. Event Driven appears to be the best performing sector for the month, returning an estimated 2.28% as managers benefited from idiosyncratic events and general upward movements in high yield and leveraged loan markets.

        Relative Value strategies, such as Fixed Income and Convertible Arbitrage, continued to post positive returns to finish April up 1.93% and 1.70% respectively. While the majority of gains were due to a bullish equity and credit environment, many managers with long volatility exposures also benefited from a surge in volatility towards the end of the month. 

        Global Macro finished up an estimated 2.03% in April with manager performance largely driven by tactical equity and yield curve trades.      

        Long/Short Equity funds returned an estimated 0.16% last month. Performance was driven by stock specific gains. Conversely, Dedicated Short Bias managers struggled throughout the month, finishing down an estimated 3.41%.

Strategy Estimates                                        

Index

Apr-10

Mar-10

2010

CS/Tremont Hedge Fund Index

1.49%

2.22%

4.63%

Convertible Arbitrage

1.70%

2.06%

5.29%

Dedicated Short Bias

-3.41%

-6.61%

-12.45%

Emerging Markets

0.97%

3.89%

3.63%

Equity Market Neutral

-0.23%

0.54%

-0.95%

Event Driven

2.28%

2.85%

7.16%

     Distressed

1.65%

2.64%

6.75%

     Event Driven Multi-Strategy

2.76%

3.07%

7.48%

     Risk Arbitrage

0.13%

0.69%

1.53%

Fixed Income Arbitrage

1.93%

1.44%

5.56%

Global Macro

2.03%

0.38%

4.65%

Long/Short Equity

0.16%

2.99%

2.95%

Managed Futures

2.21%

4.25%

4.35%

Multi-Strategy

1.17%

1.44%

3.78%

MSCI World

-0.16%

5.93%

2.58%

Barclays Capital Aggregate Bond Index

+0.02%

-0.76%

-0.26%

DJ-UBS Total Return Commodities Index

1.94%

-1.24%

-3.18%


           

Estimates are based on 74% of assets reporting; final April performance will be published May 17th 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 Alternative Capital, 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

Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 47,600 people. 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 hedge funds, credit, index, real estate, commodities and private equity products, 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 19 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.

Important Legal Information

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 does not constitute an offer 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 to future performance. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable 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.

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.

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

 

 

 

 


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