Bloomberg- Credit Suisse Group plans to launch a product to replicate hedge fund performance with more liquid securities by the first half of 2008, said Oliver Schupp, a managing director in thefirm’s alternative investments business.
The product, the first of its kind for Credit Suisse, will seek to mimic hedge funds that bet on a market going either up or down by using “directional equity strategies,” New York-based Schupp said in an interview during a visit to Hong Kong.
Switzerland’s second-biggest bank is joining peers including Merrill Lynch & Co., Goldman Sachs Group Inc. and Swiss manager Partners Group to offer low-cost clones that use listed securities such as futures contracts to replicate hedge fund returns.
