Credit Suisse’s AIR Shows Positive Month for Hedge Funds
Friday, September 4, 2009 : PermalinkWest Palm Beach (HedgeCo.net) – Long/Short Equity hedge funds returned positive performance in August mainly as a result of the continued uptrend in equity markets, according to Jordan Drachman, Head of Research for Alternative Beta Strategies at Credit Suisse.
“Following a strong rally in July, equity markets continued their upward trend in August, reaching highs not achieved since October 2008.” Dr. Drachman noted, “Long/Short Equity hedge fund managers continued to increase their overall net exposures in order to benefit from market gains. Despite brief corrections due to a mid-month weak consumer sentiment report, managers were able to finish up for the month. The Credit Suisse Long/Short Equity Replication Index (“AIR Long/Short Equity Index”) was up 1.55% (net) for the month, while the Credit Suisse Global Macro Replication Index (“AIR Global Macro Index”) finished up 0.08% (net) over the same period.”
AIR Indices seek 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 seek to 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.
Alex Akesson
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equity hedge, hedge fund strategies, hedge funds, hedge-fund-index, hedge-fund-managers, long short equity