The CSFB/Tremont Hedge Fund Index, comprised of 448 funds, is up 0.08% for July 2003, according to Oliver Schupp, President of Credit Suisse First Boston Tremont Index LLC.
“Stock and bond markets proved a bit tricky to trade during July, but event-driven strategies continued to perform nicely,” said Mr. Schupp. “Although the index is flat for the month, the year-to-date performance remains strong at over 8%, and hedge funds continue to provide good diversification and absolute returns.”
“Distressed funds are top performers for the second month in a row,” said Robert I. Schulman, Co-Chief Executive Officer of Tremont Capital Management, Inc. “With a 1.14% return in July, after a 2.63% return in June, this strategy is now up 15.41% year-to-date, outperforming all others.”
The CSFB/Tremont Hedge Fund Index was designed to establish a standard for tracking and comparing hedge fund performance against other major asset classes, like equities and bonds, on a global basis.
Credit Suisse First Boston (CSFB) is a leading global investment bank serving institutional, corporate, government and individual clients. CSFB’s businesses include securities underwriting, sales and trading, investment banking, private equity, financial advisory services, investment research, venture capital, correspondent brokerage services and asset management.
The Firm is a business unit of the Zurich-based Credit Suisse Group.
Tremont Capital Management, Inc. is one of the leading global alternative investment management firms, whose business lines include research and investment management services, sale and distribution of its proprietary investment products, and database sales and information services. Tremont advises on approximately $9 billion in alternative investment assets, including more than $1billion in its proprietary funds.