Long/Short Equity and Global Macro Hedge Funds Experienced Positive Returns in February, Based on Credit Suisse Liquid Alternative Beta ("LAB") Index Performance

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Mar 03, 2010, 12:42 ET

NEW YORK, March 3 /PRNewswire-FirstCall/ -- Based on February performance for the LAB Liquid Indices, Long/Short Equity and Global Macro hedge funds posted positive February returns, according to Jordan Drachman, Head of Research for Alternative Beta Strategies at Credit Suisse.

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Dr. Drachman noted, "The LAB Long/Short Liquid Index was up 1.01% with gains coming primarily from long positions in the industrial and consumer sectors. Despite February gains, Long/Short Equity funds are down 0.46% year-to-date as a result of increased global equity market volatility. Moreover, the Credit Suisse Global Macro Liquid Index ("LAB Global Macro Liquid Index") finished the month up 1.14% as many managers benefited from long commodity positions in February. The Global Macro sector is estimated to be up 2.33% year-to-date."

About Liquid Alternative Beta ("LAB") Indices

LAB (formerly known as Alternative Index Replication or "AIR") is a series of indices that seek to replicate the aggregate return profiles of alternative investment strategies using liquid, tradable instruments. The LAB umbrella currently includes the Long/Short Liquid Index and the Global Macro Liquid Index which enable investors to gain liquid, transparent insight into the Global Macro and Long/Short Equity sectors of the Credit Suisse/Tremont Hedge Fund Index.

Performance for the LAB Global Macro and Long/Short Liquid Indices (shown below) is calculated daily. Performance, descriptions, statistics and downloadable price history can be found on the Credit Suisse Alternative Beta website, www.credit-suisse.com/alternativebeta or on Bloomberg at < ILAB >.

    
    
    
                                             Feb-10     Jan-10    YTD 2010
                                             ------     ------    --------
    LAB Long/Short Liquid Index               1.01%     -1.46%      -0.46%
    ---------------------------               -----     ------     -------
    Credit Suisse/Tremont Long/Short Equity
     Hedge Fund Index                          N/A*     -1.50%       N/A*
    ---------------------------------------   -----     ------     -------
    LAB Global Macro Liquid Index             1.14%      1.18%      2.33%
    -----------------------------             -----     ------     -------
    Credit Suisse/Tremont Global Macro 
     Hedge Fund Index                          N/A*      1.07%       N/A*
    ----------------------------------------  -----     ------     -------
    S&P 500 TRI Index**                       3.10%     -3.60%      -0.61%
    -------------------                       -----     ------     -------
    Dow Jones World Index**                   1.13%     -4.21%      -3.13%
    -----------------------                   -----     ------     -------
    
    *   February performance will be published March 15th on Bloomberg and 
        online at www.hedgeindex.com
    
    **  Total Return Indices

Additional features of the LAB Long/Short and Global Macro Liquid Indices include:

LAB Indices seek to capture the risk/return characteristics of specific hedge fund sectors
Indices are valued daily and are comprised of liquid, investable market factors that are selected and weighted using an objective and transparent rules-based methodology
An algorithm determines the appropriate factors and weightings employed in seeking to replicate the returns of specific hedge fund strategies
Transparency via website (www.credit-suisse.com/alternativebeta) and pages on Bloomberg < ILAB >

Credit Suisse Alternative Capital, Inc. is a subsidiary of Credit Suisse and is headquartered at 11 Madison Avenue, New York, NY 10010-3629.

Credit Suisse AG

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In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including alternative investments such as private equity, hedge funds, real estate and credit, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse's Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse's Asset Management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.

All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.

Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.

This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change without notice or any obligation to update. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not a guide to future performance. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof. No part of this material may be reproduced or retransmitted in any manner without the prior written permission of Credit Suisse.

SOURCE Credit Suisse AG