The CSFB/Tremont Hedge Fund Index is up 0.88% for August 2005, according to Oliver Schupp, president of Credit Suisse First Boston Tremont Index LLC and senior member of the CSFB Hedge Fund Investments Group.
“Despite US and European equity markets being down on concerns of the impact of rising oil prices both Long/Short Equity hedge funds and Dedicated Short Managers reported positive performance in August. The Managers were able to profit from stock specific short positions”, said Schupp. “Emerging Market Managers focusing on equity oriented strategies showed performance of 2.29% on the back of rallying equity markets in Russia, China and Argentina.”
“Convertible Managers profited from the pick-up in volatility and a reversal of recent selling pressure” said Robert I. Schulman, chief executive officer of Tremont Capital Management, Inc. “Managed Futures was the only strategy out of the CSFB/Tremont Sub-Indices which ended the month down with -0.87%. Profits in the sector were more then offset by losses from reversals in the currency and bond markets.”