Early View: Dow Jones Credit Suisse Hedge Fund Index Posts Estimated Positive Performance of 1.34% in October

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Nov 08, 2010, 10:57 ET

NEW YORK, Nov. 8, 2010 /PRNewswire/ -- Early estimates indicate the Dow Jones Credit Suisse Hedge Fund Index ("Broad Index") extended its positive performance into October, gaining 1.34% for the month (based on 67.12% of assets in the index reporting).

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Key highlights for the month:

Hedge funds extended their rally into October as the Dow Jones Credit Suisse Hedge Fund Index rose an estimated 1.34%. Many managers were able to capitalize on October's market momentum enabling nine out of the ten sectors to post positive performance for the month. The industry is up 7.41% for the year.
Managed Futures funds were among the top performers this month finishing up 3.46%. Performance in the space was largely led by long positions and bull spreads in corn, wheat and sugar, all of which benefited from strong rallies throughout the month.
Equity-focused managers also experienced positive performance due in part to the decrease in overall equity market correlations in October. Long/Short Equity managers finished up 1.75% for the month, bolstered by long positions in the Technology, Communications, and Media sectors. On the other hand, Dedicated Short managers with short positions in small/mid cap stocks were negatively impacted, as several deals and rumors of takeovers caused shorted targets to rally.

Strategy Estimates
Index	Oct-10	Sep-10	2010
Dow Jones Credit Suisse Hedge Fund Index	1.34%	3.43%	7.41%
Convertible Arbitrage	1.74%	1.11%	9.40%
Dedicated Short Bias	-3.07%	-11.28%	-15.17%
Emerging Markets	1.00%	4.77%	8.80%
Equity Market Neutral	0.09%	3.66%	-0.86%
Event Driven	1.11%	3.20%	7.49%
Distressed	0.23%	2.09%	5.85%
Event Driven Multi-Strategy	1.75%	4.03%	8.66%
Risk Arbitrage	0.02%	2.31%	4.15%
Fixed Income Arbitrage	0.78%	1.55%	10.62%
Global Macro	1.07%	2.72%	10.48%
Long/Short Equity	1.75%	5.09%	4.92%
Managed Futures	3.46%	2.77%	10.11%
Multi-Strategy	1.43%	2.79%	6.51%
Dow Jones Global Index	3.52%	9.54%	6.50%
Barclays Capital Aggregate Bond Index	1.26%	2.35%	8.31%
DJ-UBS Total Return Commodities Index	4.98%	7.26%	5.92%

Estimates are based on 67.12% of assets in the index reporting; final October performance will be published November 15th on Bloomberg and online at www.hedgeindex.com. For a complete description of the Dow Jones Credit Suisse Hedge Fund Index, please see the index rules available at www.hedgeindex.com.

Credit Suisse Hedge Index LLC is headquartered at 11 Madison Avenue, New York, NY 10010-3629.

About Dow Jones Indexes

Dow Jones Indexes (www.djindexes.com) is a leading full-service index provider that develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best-known for the Dow Jones Industrial Average, Dow Jones Indexes offers more than 130,000 equity indexes as well as fixed-income and alternative indexes, including measures of hedge funds, commodities and real estate. Dow Jones Indexes employs clear, unbiased and systematic methodologies that are fully integrated within index families. Dow Jones Indexes is the marketing name of CME Group Index Services LLC, a joint venture company which is owned 90 percent by CME Group Inc. (www.cmegroup.com) and 10 percent by Dow Jones & Company (www.dowjones.com), a News Corporation company (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV; www.newscorp.com).

About Credit Suisse AG

Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 50,500 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

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SOURCE Credit Suisse AG