Credit Suisse/Tremont Hedge Fund Index Is Up 1.24% in March.Credit Suisse/Tremont Investable Hedge Fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" Index Is Up 0.99% in March The Credit Suisse/Tremont Long/Short Equity Long/Short Equity A hedge fund strategy that involves buying certain stocks long and selling others short. There usually isn't a restriction on the country that the stocks trade in either. Sector Invest Index Is Up 2.32% Net in March NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- The Credit Suisse/Tremont Hedge Fund Index is up 1.24% in March and up 3.34% for the first quarter of 2007 according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Oliver Schupp, President of the Credit Suisse The Credit Suisse Group (SWX:CSGN, NYSE: CS) is a financial services company, headquartered in Zürich, Switzerland. It is the second-largest Swiss bank, behind UBS AG. Index Co., Inc. "Despite getting off to a rocky start, global equity markets managed to recoup losses in the beginning of March and ended the month on a positive note. Markets were affected by remarks made by U.S. Federal Reserve Chairman, Ben Bernanke, that inflation is "uncomfortably high" promoting speculation that the U.S. central bank won't reduce interest rates to prop up the slowing economy, a weakening consumer confidence, and a growing housing slump," said Mr. Schupp. "Overall, this market environment has led to the estimation that eight of the ten hedge fund sectors will end March on a positive note. Long/Short Equity managers, in particular, were up 1.87% in March as industry themes and ongoing M&A activity provided stock specific opportunities, while superior stock selection paid off." Performance for the Credit Suisse/Tremont Hedge Fund Index and its ten sub strategies is calculated monthly. March, February and year-to-date 2007 returns for all categories are listed below and at www.hedgeindex.com. Category March 2007 February 2007 YTD 2007 Credit Suisse/Tremont Hedge Fund Index 1.24% 0.74% 3.34% Convertible Arbitrage 0.68% 1.16% 3.06% Dedicated Short Bias -0.62% 0.77% 1.64% Emerging Markets 1.96% 1.13% 3.20% Equity Market Neutral 1.65% 0.47% 2.75% Event Driven 1.27% 1.55% 4.96% Distressed 1.27% 1.21% 4.25% Event Driven Multi-Strategy 1.26% 1.81% 5.60% Risk Arbitrage 1.29% 1.15% 2.66% Fixed Income Arbitrage 0.90% 1.21% 2.25% Global Macro 1.21% 0.50% 3.02% Long/Short Equity 1.87% 0.71% 3.77% Managed Futures -2.54% -4.38% -4.70% Multi-Strategy 0.82% 1.20% 3.76% S&P 500 DRI Index* 1.12% -1.96% 0.64% Dow Jones World Index* 1.79% - 0.39% 1.39% * Total Return Indices The Credit Suisse/Tremont Hedge Fund Index value is 398.28 returning 298.28% for the 159-month period since inception (January 1, 1994 through March 31, 2007). For additional current and historical data including more comparisons with other widely followed global indices, visit the Credit Suisse/Tremont Hedge Fund Index web site at www.hedgeindex.com. The Credit Suisse/Tremont Hedge Fund Index is comprised of 432 funds as of March 31, 2007. The following funds no longer report to the Credit Suisse/Tremont Hedge Fund Index: Systeia Convertible Arbitrage Convertible Arbitrage An investing strategy that involves the long position on a convertible security and a short position in its converting common stock. Notes: and Globalvest Latin American. The Index is constructed using the Credit Suisse/Tremont database of more than 4,500 hedge funds. It includes both open and closed funds located in the U.S. and offshore, but does not include fund of funds Fund of Funds A mutual fund that invests in other mutual funds. Notes: For example, an investor would select a general risk profile and the fund-of-funds manager would pick underlying investments from a range of products managed by external managers. . In order to qualify for inclusion in the index selection universe, a fund must have a minimum of US $50 million under management, a 12-month track record, and audited financial statements. Index funds are selected using a formula based on assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . That ensures the Index represents at least 85% of total assets in each of ten strategy-based sectors in the selection universe. In order to minimize survivorship bias Survivorship Bias Specifically in the context of mutual funds, the tendency for poor performers to drop out while strong performers continue to exist. This results in an overestimation of past returns. funds are not excluded until they liquidate To pay and settle the amount of a debt; to convert assets to cash; to aggregate the assets of an insolvent enterprise and calculate its liabilities in order to settle with the debtors and the creditors and apportion the remaining assets, if any, among the stockholders or owners of the or fail to meet the reporting requirements. The Index is calculated as a total return index on a monthly basis, adjusted for asset in- and outflow, including a reselection according to the procedure outlined above on a quarterly basis. Return for the Credit Suisse/Tremont Investable Hedge Fund Index The Credit Suisse/Tremont Investable Hedge Fund Index is up an estimated 0.99% net for the month of March 2007. The confirmed performance for February is up 0.09%. Performance for the Credit Suisse/Tremont Investable Hedge Fund Index is calculated monthly. Returns for the months of March, February, and year-to-date 2007 are listed below and at www.hedgeindex.com. The return shown is net of a 0.07% calculation fee. [TABLE OMITTED] The Credit Suisse/Tremont Investable Hedge Fund Index was launched with 60 funds and was set at a value of 100 on August 1, 2003. The funds currently included in the index are available on the website at www.hedgeindex.com. The Credit Suisse/Tremont Investable Hedge Fund Index is designed to give investors broad exposure to hedge funds as an asset class. It fulfills investor demand for index-linked products created to reduce dependency on fund manager selection and fund concentration risk. The Credit Suisse/Tremont Investable Hedge Fund Index is based on the broad Credit Suisse/Tremont Hedge Fund Index, which is the largest hedge fund index with approximately $501 billion in assets managed by 432 funds as of March 31, 2007. The funds in the Credit Suisse/Tremont Investable Index or the Credit Suisse/Tremont Sector Invest Indices are selected from the funds included in the Credit Suisse/Tremont Hedge Fund Index. The Credit Suisse/Tremont Investable Hedge Fund Index and the Credit Suisse/Tremont Sector Invest Index comprise the largest funds that are open to investment and meet certain liquidity constraints A liquidity constraint in economic theory is a form of imperfection in the capital market. It causes difficulties for models based on intertemporal consumption. Many economic models require individuals to save or borrow money from time to time. in each of the 10 style-based sectors. The fund selection rules can be found on www.hedgeindex.com and include the following criteria: * The funds are selected from the Credit Suisse/Tremont Hedge Fund Index by an asset-based formula * The funds generally represent the largest eligible "open" funds in each of the ten sectors * The funds are determined by application of the construction rules * Member funds must provide timely performance reporting, audited financials and offering memorandum Offering Memorandum A legal document stating the objectives, risks, and terms of investment involved with a private placement. Notes: The private placement of hedge funds necessitates the issue of memorandums. review for inclusion Additional features of the Credit Suisse/Tremont Index series include: * Transparency via www.hedgeindex.com and pages on Bloomberg and Reuters, Wall Street Journal Asia and Europe. * A broad suite of index-linked investment products through Credit Suisse Credit Suisse Tremont Index, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control 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 Madison Avenue, celebrated street of Manhattan, borough of New York City. It runs from Madison Square (23d St.) to the Madison Bridge over the Harlem River (138th St.). In the 1940s and 50s, some of the major U.S. , New York, NY 10010-3629. Credit Suisse As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , 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 45,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN CSGN Cyber Sports Gaming Network (UK) CSGN coordinating subgroup for narcotics (US DoD) CSGN Strike Cruiser, Nuclear Powered (US Navy ship designation) ) are listed in Switzerland and, in the form of American Depositary Shares American Depositary Share (ADS) Foreign stock issued in the US and registered in the ADR system. (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com. In its asset management business, Credit Suisse offers products across the full spectrum of investment classes, ranging from equities, fixed income and multiple-asset class products, to alternative investments such as real estate, hedge funds, private equity and volatility management. 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 18 countries, Credit Suisse's asset management business is operated as a globally integrated network A network that supports both data and voice and/or different networking protocols. See converged network and new public network. to deliver the bank's best investment ideas and capabilities to clients around the world. The asset management business of Credit Suisse is comprised of a number of legal entities around the world that are subject to distinct regulatory requirements Regulatory requirements are part of the process of drug discovery and drug development. Regulatory requirements describe what is necessary for a new drug to be approved for marketing in any particular country. ; certain asset management products and services may not be available in all jurisdictions or to all client types. Certain statements in this Press Release constitute "forward looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. The Companies assume no obligation to update these forward looking statements to reflect actual results, changes in assumption or changes in other factors affecting such forward looking statements. |
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