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July 09, 2010

Early View: Dow Jones Credit Suisse Hedge Fund Index Posts Estimated Performance of -0.88% in June

July 9, 2010: Early estimates indicate the Dow Jones Credit Suisse Hedge Fund Index (“the Index”) will experience negative performance in June, with a -0.88% decrease for the month (based on 77% of assets reporting).

 

Key highlights for the month:

         Estimates indicate that hedge funds generated negative performance for the month of June. The Dow Jones Credit Suisse Hedge Fund Index is estimated to have finished down 0.88%, bringing year-to-date performance to 0.59%. In contrast, global equity markets, as represented by the MSCI World index, returned -3.56% in June and -10.88% in the first half of the year.

         Global Macro Sub- Index was one of the positive performers this month, with an estimated increase of 0.53% in June and 4.15% year-to-date. Macro managers have largely avoided market volatility due to their bearish outlooks and low equity market exposures. The majority of gains in the space were generated by currency investments. 

         Event Driven Sub-Index funds were down an estimated 1.97% in June with managers experiencing mixed performance for the month.  Although some managers generated profits by capitalizing on special situation investments and opportunities in distressed credit, equity related losses detracted from gains and only the Risk Arbitrage Sub-index produced positive returns for the month. 

        Long/Short Equity Sub-Index funds finished down an estimated 2.30% in June as equity market sell-offs continued to hurt returns. Conversely, Dedicated Short Bias was the top performing strategy last month, finishing up an estimated 4.84%.

Strategy Estimates

Index

Jun-10

May-10

2010

Dow Jones Credit Suisse Hedge Fund Index

-0.88%

-2.76%

0.59%

Convertible Arbitrage

0.00%

-2.51%

2.64%

Dedicated Short Bias

4.84%

5.84%

-3.33%

Emerging Markets

0.49%

-4.28%

-0.28%

Equity Market Neutral

-1.06%

-3.30%

-4.60%

Event Driven

-1.97%

-3.07%

1.43%

     Distressed

-1.49%

-2.50%

2.57%

     Event Driven Multi-Strategy

-2.34%

-3.53%

0.60%

     Risk Arbitrage

0.17%

-1.52%

-0.08%

Fixed Income Arbitrage

0.91%

-0.79%

5.49%

Global Macro

0.53%

-0.63%

4.15%

Long/Short Equity

-2.30%

-4.13%

-3.45%

Managed Futures

0.52%

-4.03%

0.35%

Multi-Strategy

-0.77%

-2.19%

0.52%

MSCI World

-3.56%

-9.91%

-10.88%

Barclays Capital Aggregate Bond Index

1.53%

-1.56%

-0.32%

DJ-UBS Total Return Commodities Index

0.32%

-6.92%

-9.60%

 

Estimates are based on 77% of assets of the hedge fund index components reporting; final June performance will be published July 15th on Bloomberg and online at www.hedgeindex.com. For a complete description of the Dow Jones Credit Suisse Hedge Fund Index, please see the index rules available at www.hedgeindex.com.

 

Credit Suisse Contact Information

Meg Bode, Bode Associates, phone: +1-516-869-6610, meg@bodeassociates.com

Suzanne Fleming, Corporate Communications, Credit Suisse, phone +1-212-325-7396, suzanne.fleming@credit-suisse.com

Credit Suisse Hedge Fund Index Investor Relations, hfindices.ir@credit-suisse.com

 

 

About Dow Jones Indexes

Dow Jones Indexes (www.djindexes.com) is a leading full-service index provider that develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best-known for the Dow Jones Industrial Average, Dow Jones Indexes offers more than 130,000 equity indexes as well as fixed-income and alternative indexes, including measures of hedge funds, commodities and real estate. Dow Jones Indexes employs clear, unbiased and systematic methodologies that are fully integrated within index families. Dow Jones Indexes is the marketing name of CME Group Index Services LLC, a joint venture company which is owned 90 percent by CME Group Inc. (www.cmegroup.com) and 10 percent by Dow Jones & Company (www.dowjones.com), a News Corporation company (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV; www.newscorp.com).

 

About 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 48,300 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.

 

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

 

 

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.

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 or indicator 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.

 

“Dow Jones®”, “The Dow Jones Credit Suisse Hedge Fund Indexes” and “Dow Jones Indexes” are service marks of Dow Jones Trademark Holdings LLC (“Dow Jones”), and Credit Suisse Group AG, as the case may be, and have been licensed for use by Credit Suisse Index Co., Inc. and CME Group Index Services LLC (“CME Indexes”). Investment products based on the Dow Jones Credit Suisse Hedge Fund Indexes are not sponsored, endorsed, sold or promoted by Dow Jones, CME Indexes or their respective affiliates and none of Dow Jones, CME Indexes and their respective affiliates make any representation regarding the advisability of investing in such products.  Inclusion of a hedge fund in any of the Dow Jones Credit Suisse Hedge Fund Indexes does not in any way reflect an opinion of Dow Jones, CME Indexes or any of their respective affiliates on the investment merits of such fund. None of Dow Jones, CME Indexes or any of their respective affiliates is providing investment advice in connection with these indexes.

 

 

 

 


© 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.