Industry Updates

Credit Suisse Alternative Index Replication (AIR) indices project hedge funds will post mixed returns for June

Thursday, July 02, 2009

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Opalesque Industry Updates - Market uncertainty led to mixed hedge fund returns in June, according to Jordan Drachman, Head of Research for Alternative Beta Strategies at Credit Suisse.

Dr. Drachman noted, “Following May, which was one of the better performing months for hedge funds in recent history, June generated mixed performance both for hedge funds and broad market indices.

The Credit Suisse Long/Short Equity Replication Index (“AIR Long/Short Equity Index”) was down 0.57% (net) for the month, while the Credit Suisse Global Macro Replication Index (“AIR Global Macro Index”) finished up 0.33% (net) over the same period.

As suggested by these returns, hedge funds appear to remain cautious in the face of broad market uncertainty. However, many funds are poised to capitalize on forthcoming market rallies by maintaining a positive net exposure to equity markets.”

AIR Indices are designed to replicate the performance of major hedge fund strategies, and enable investors to gain liquid, transparent insight into the Global Macro and Long/Short Equity sectors of the Credit Suisse/Tremont Hedge Fund Index. The AIR platform also offers inverse indices that approximate short exposure to the aggregate returns of the universe of Long/Short Equity and Global Macro hedge fund managers.

Performances for the AIR Global Macro and Long/Short Equity Indices are calculated daily and shown net of a 1.15% per annum calculation fee. Performance, descriptions, statistics and downloadable price history can be found on the Credit Suisse Alternative Beta website, Source.

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