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| INVESTORS OFFSHORE -
NEWS |
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Credit Suisse/Tremont Hedge Fund Index Posts Largest Gain Since August 2000,
by Carla Johnson, Investors Offshore.com 17 February 2006
The Credit Suisse/Tremont Hedge Fund Index in January racked up its largest one-month
gain since August 2000, with strong global equity markets, particularly in emerging
economies, helping to boost hedge funds returns.
"Hedge funds continued their strong performance from December into January,"
observed Oliver Schupp, President of the Credit Suisse Tremont Index LLC and
senior member of the Credit Suisse Funds and Alternative Solutions Group.
"The global appetite for risk and strong equity markets pushed the Long/Short
sector up 4.18% and the Emerging Markets sector up 5.76% for January 2006,"
he explained.
Mr Schupp noted that Convertible Arbitrage managers reported gains of 2.75%
in January - the strongest in 3 years - as they profited from higher valuations
and increased inefficiencies after a year which saw many funds close.
Meanwhile, Event Driven hedge fund managers had one of their strongest months
in recent history as they took advantage of a tightened credit spread throughout
the month and an increase in announced mergers and acquisitions after the start
of the New Year, according to Robert I. Schulman, Chief Executive Officer of
Tremont Capital Management, Inc.
Global Macro managers also had a strong start to the year, reporting an average
3.37% gain for January, generating returns through long equity exposure as well
as from short positions in European and Japanese bonds," noted Mr Schulman.
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