The CSFB/Tremont Hedge Fund Index is up 1.43% for February 2005, according to Oliver Schupp, President of Credit Suisse First Boston Tremont Index LLC.
“The Dedicated Short sub strategy reported the strongest return for the second month in a row, making it the highest sub strategy year-to-date, up 10.59%,” said Mr. Schupp. “Emerging Markets managers also reported a very positive month, aided by strong emerging equity markets in addition to generally positive emerging market bonds. In terms of currencies, managers reported profits from trades involving long emerging market currencies versus short G10 currencies.”
“The Long/Short Equity sub strategy experienced a good month as European and Asian managers generally posted strong returns, and in the US the energy and homebuilder sectors contributed positively,” said Robert I. Schulman, Co-Chief Executive Officer of Tremont Capital Management, Inc. “The Convertible Arbitrage sub strategy suffered due to a continued lack of new convertible issuance and low volatility.”
Likewise, the CSFB/Tremont Investable Hedge Fund Index is up an estimated 0.81% net for the month of February 2005. The confirmed performance for January is down -0.64% net.