In January final performance of Credit Suisse/Tremont Hedge Fund Index was up 1.09%.
Performance for the Credit Suisse/Tremont Hedge Fund Index and its ten sub-strategies is calculated monthly. January 2009 returns, as well as December 2008 and 2008 returns for all categories are listed below. The first column indicates name of the index, the second one January 2009, the third December 2008, the fourth 2008 total.
Credit Suisse/Tremont Hedge Fund Index 1.09%, -0.03%, -19.07%
Convertible Arbitrage 5.72%,-0.98%, -31.59%
Dedicated Short Bias 3.69%, -1.68%, 14.87%
Emerging Markets -0.14%, 0.22%, -30.41%
Equity Market Neutral 1.14%, 0.41%, -40.32%
Event Driven 0.79%, -1.26%, -17.74%
Distressed -0.06%, -2.54%, -20.48%
Event Driven Multi-Strategy 1.33%, -0.49%, -16.25%
Risk Arbitrage 38%, 1.60%, -3.27%
Fixed Income Arbitrage 0.48%, -0.80%, -28.82%
Global Macro 2.33%, 1.11%, -4.62%
Long/Short Equity 0.17%, 1.06%, -19.76%
Managed Futures -0.56%, 2.37%, 18.33%
Multi-Strategy 3.35%, -1.52%, -23.63%
S&P 500 TRI Index* -8.43%, 1.06%, -37.00%
Dow Jones World Index*-8.51%, 3.86%, -42.85%
*Total Return Indices
Hedge funds showed signs of a rebound last month, finishing up over 1% despite U.S. equity markets experiencing the worst January in recent history, says Oliver Schupp, president, Credit Suisse Index Co., Inc.
Convertible Arbitrage managers, in particular, posted positive performance, benefiting both from improved credit markets and overall increased buying interest in the space. Global Macro managers also did well last month as market volatility created favorable trading opportunities. Overall, seven of the Indexs ten sectors finished the month in positive territory.
L.D.