Opalesque Industry Update - Final performance for the Dow Jones Credit Suisse Hedge Fund Index (“Broad Index”) starts the year in positive territory up 0.69% in January.|
Oliver Schupp, President of Credit Suisse Index Co.,LLC, said, “The Dow Jones Credit Suisse Hedge Fund Index rose 0.69% in January, with six out of ten sectors posting positive performance for the month. Convertible Arbitrage was the best performing sector, finishing up 2.16%. Positive performance was also seen in the Event Driven sector, which finished up 1.80%, with all three of its sub-indices posting positive performance.”
Performance for the Broad Index and its ten sub-strategies is calculated monthly. January, December and 2010 performance numbers are listed below and are available at www.hedgeindex.com.
The following funds were added to the Broad Index: Ajia-Lighthorse China Growth Fund, Armajaro Commodities Fund, AT MLP Fund, Del Mar Fund, GLG European Opportunity Fund, Matterhorn Breithorn Fund, and Saba Capital.
The following funds are no longer reporting to the Broad Index: Brummer & Partners Karakoram, Caduceus Capital Trust, and Threadneedle European Crescendo Fund Limited.
The Broad Index is constructed using the Credit Suisse database of more than 8,000 hedge funds. It includes both open and closed funds located in the U.S. and offshore, but does not include fund of funds. In order to qualify for inclusion in the index selection universe, a fund must have a minimum of USD 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, which ensures that 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, funds are not excluded until they liquidate or fail to meet the reporting requirements. The Broad Index is calculated as a total return index on a monthly basis, adjusted for asset in- and outflows, including a reselection according to the procedure outlined above, on a quarterly basis... Full press release: Source