The Credit Suisse Inverse Long/Short Equity Replication Index (“Inverse AIR LOSHO Index”) announces positive financial results for the month through November 19th with up 5.22% net.
Performance for the AIR LOSHO Indices is calculated daily and shown net of a 1.15% per annum calculation fee. Here is the review of returns. The first figures in the table represent the period November MTD 2008 (November 19), the second figures October 2008, and the tird ones 2008 YTD (November 19):
Credit Suisse Long/Short Equity
-5.28% -7.36% -22.04% Replication Index (Net)
Credit Suisse Inverse Long/Short Equity
5.22% 6.69% 25.72% Replication Index (Net)
S&P 500 TRI Index*
-16.53% -16.79% -43.95%
Dow Jones World Index*
-14.05%
-19.96%
-49.25%
Points marked with * stand for Total Return Indices.
Additional features of the Credit Suisse Long/Short Equity Replication Indices include transparency via pages on Bloomberg (AIRI).
The Inverse AIR LOSHO Index reflects the return of a dynamic basket of liquid, investable market factors selected and weighted in accordance with an algorithm that aims to approximate the aggregate returns of short exposure to the universe of long/short equity hedge fund managers.
The AIR LOSHO Index reflects the return of a dynamic basket of liquid, investable market factors selected and weighted in accordance with an algorithm that aims to approximate the aggregate returns of the universe of long/short equity hedge fund managers.
The AIR LOSHO Index attempts to track the Long/Short Equity sector of the benchmark Credit Suisse/Tremont Hedge Fund Index.
“November has so far been a very challenging month for hedge funds across all strategies, hence the Credit Suisse Inverse Long/Short Equity Replication Index is up 5.22% net through mid-November,” says Jordan Drachman, head of research for Alternative Beta Strategies, Credit Suisse.
“By providing inverse hedge fund-like returns, the Index is able to offer investors insight to the performance of offsetting exposure to the common factors driving the Long/Short Equity sector of the hedge fund universe. Conversely, the Credit Suisse Long/Short Equity Replication Index (“AIR LOSHO Index”) finished down 5.28% net for the month through November 19.”
L.D.