Press Release – The Dow Jones Credit Suisse Core Hedge Fund Index saw less than half of the declines seen in broad equity indexes in September. Nevertheless, uncertain market conditions negatively affected all strategies.
Oliver Schupp, President of Credit Suisse Index Co., LLC, said, “The Dow Jones Credit Suisse Core Hedge Fund Index finished down -4.23% in September, bringing year-to-date performance to -7.84%. In the Event Driven space, losses mainly stemmed from relatively concentrated long equity positions related to special situations, while Global Macro managers declined following sharp reversals in precious metals, such as gold which posted its worst monthly loss since 1983. Compared to the year-to-date drop of -15.36% for the Dow Jones Global Index, hedge funds have provided some level of capital preservation to date this year, however, all strategies appear to be feeling the pain with market uncertainty at an all time high.”
The Dow Jones Credit Suisse Core Hedge Fund Index provides the benefit of daily valuations which enables investors to more accurately track the impact of market events on the hedge fund industry. September, August and year-to-date 2011 performances are listed below and available at www.hedgeindex.com .
Index Sep 11 Aug 11 2011 YTD Dow Jones Credit Suisse Core Hedge Fund Index -4.23% -2.88% -7.84% Convertible Arbitrage -2.64% -3.46% -6.15% Emerging Markets -2.87% -3.45% -2.83% Event Driven -5.71% -5.31% -13.32% Fixed Income Arbitrage -1.50% -0.66% -0.17% Global Macro -5.13% -1.84% -10.78% Long/Short Equity -6.13% -3.56% -9.16% Managed Futures -0.14% 1.03% -0.11%
About the Dow Jones Credit Suisse Core Hedge Fund Index
Following the market events of 2008, increased attention has been focused on liquid hedge fund structures, including managed accounts, which tend to offer superior liquidity and transparency. The Dow Jones Credit Suisse Core Hedge Fund Index is the only hedge fund index to measure the performance of this rapidly growing industry segment by sourcing funds from multiple best-in-class managed account platforms, an advantage over indices which are built on a single managed account platform that may have a particular sector bias.
The Dow Jones Credit Suisse family of hedge fund indexes also includes:
The Dow Jones Credit Suisse Hedge Fund Index, an asset-weighted benchmark that measures hedge fund performance and seeks to provide the most accurate representation of the hedge fund universe.
The Dow Jones Credit Suisse AllHedge Index, an investable index comprised of all 10 Dow Jones Credit Suisse AllHedge Strategy Indexes weighted according to the sector weights of the Broad Index.
The Dow Jones Credit Suisse Blue Chip Hedge Fund Index, an investable index comprised of 60 of the largest funds across the ten style-based sectors in the Broad Index.
The Dow Jones Credit Suisse LEA Hedge Fund Index, an asset-weighted, composite index which provides insight in to three specific regions of the emerging markets hedge fund universe (Latin America, EEMEA (Emerging Europe, Middle East and Africa) and Asia).