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October 12, 2010

Early View: Dow Jones Credit Suisse Hedge Fund Index Posts Estimated Positive Performance of 3.23% in September

New York, October 12, 2010 Early estimates indicate the Dow Jones Credit Suisse Hedge Fund Index (“Broad Index”) will post its best year-to-date performance in September, gaining 3.23% for the month (based on 87% of assets in the index reporting).

 

Key highlights for the month:

        Hedge funds experienced their best month year-to-date in September as the Dow Jones Credit Suisse Hedge Fund Index rose an estimated 3.23%. Nine out of the 10 sectors posted positive performance this month as a result of global market rallies. The industry is up 5.78% for the year, outperforming global markets, as represented by the Dow Jones Global Index, which have posted gains of 2.89% year-to-date.

        Equity focused managers experienced positive performance this month due to global equity market rallies. Long/Short Equity managers posted their biggest gain since May of 2009, finishing up 4.50% for the month. Managers with high net exposures led performance and many funds increased their market exposures as the month progressed. Equity Market Neutral funds gained 4.30% as market correlations dropped from their record highs managers and managers capitalized on short term price reversals.

        Emerging Markets funds were also among the top performers this month finishing up 4.68%. Performance in the space was largely led by equity-focused managers which benefited from market rallies in emerging Asian and Latin American markets. FX positions also contributed positively to the month’s gains.

        The Event Driven sector also finished in positive territory as increasing investment opportunities began to arise around special situations. All three sub-sectors performed well this month with Risk Arbitrage up 3.88% driven by the recent increase in M&A activity.

        Global Macro was up an estimated 2.63% as managers increased their risk exposures in the FX markets and seized opportunities in the commodities space. Many managers with long AUD positions were able to capture significant gains as the Aussie rallied to an all time record high. 

Strategy Estimates

Index

Sep-10

Aug-10

2010

Dow Jones Credit Suisse Hedge Fund Index

3.23%

0.23%

5.78%

Convertible Arbitrage

1.32%

1.35%

7.75%

Dedicated Short Bias

-11.77%

5.15%

-12.97%

Emerging Markets

4.68%

0.12%

7.63%

Equity Market Neutral

4.30%

-1.55%

-0.34%

Event Driven

3.31%

-0.40%

6.42%

     Distressed

2.12%

-0.64%

5.64%

     Event Driven Multi-Strategy

4.14%

-0.24%

6.90%

     Risk Arbitrage

3.88%

0.31%

5.73%

Fixed Income Arbitrage

1.48%

1.24%

9.69%

Global Macro

2.63%

1.48%

9.21%

Long/Short Equity

4.50%

-1.12%

2.53%

Managed Futures

2.76%

4.87%

6.41%

Multi-Strategy

2.83%

0.01%

5.04%

Dow Jones Global Index

9.54%

-3.62%

2.89%

Barclays Capital Aggregate Bond Index

2.35%

1.39%

6.96%

DJ-UBS Total Return Commodities Index

7.26%

-2.55%

0.90%


 

Estimates are based on 87% of assets in the index reporting; final September performance will be published October 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 Hedge 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

 

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.

 

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.

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© 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.