Early View: Dow Jones Credit Suisse Hedge Fund Index Posts Estimated Positive Performance of 0.22% in August

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Sep 09, 2010, 10:23 ET

NEW YORK, Sept. 9 /PRNewswire/ -- Early estimates indicate the Dow Jones Credit Suisse Hedge Fund Index ("Broad Index") will post positive performance of 0.22% in August (based on 70% of assets in the index reporting).

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Key highlights for the month:

Hedge funds sustained moderate gains in August. The Dow Jones Credit Suisse Hedge Fund Index was up 0.22%, bringing year-to-date performance to 2.46%. The industry outperformed global equity markets, as represented by the Dow Jones Global Index, which fell 3.62% in August and is down 6.08% year-to-date.
Managed Futures hedge funds posted some of the highest performance in August, finishing up 4.96% for the month. Trend followers posted gains from long fixed income positions in both short term interest rates and bonds. High frequency managers also ended the month up as models were able to capture the fixed income rally acceleration and the fall in commodities such as natural gas.
Global Macro hedge fund managers were among the top performers this month, finishing up 2.57% as managers capitalized on long interest rate and short Euro positions. Equities exposure continued to represent a small portion of overall portfolio risk as managers attempted to avoid the negative effects of recent equity market volatility.
Long/Short Equity hedge funds experienced an overall negative month, losing 1.39% as directional net-long managers were unable to find profitable positions amid equity market sell-offs.

Strategy Estimates
Index	Aug-10	Jul-10	2010
Dow Jones Credit Suisse Hedge Fund Index	0.22%	1.59%	2.46%
Convertible Arbitrage	1.37%	2.22%	6.37%
Dedicated Short Bias	5.11%	-3.52%	-1.40%
Emerging Markets	-0.50%	3.52%	2.18%
Equity Market Neutral	-2.33%	1.67%	-5.20%
Event Driven	-0.69%	1.56%	2.71%
Distressed	-0.49%	1.10%	3.60%
Event Driven Multi-Strategy	0.57%	1.90%	3.48%
Risk Arbitrage	-0.80%	1.61%	0.65%
Fixed Income Arbitrage	1.00%	1.20%	7.84%
Global Macro	2.57%	0.65%	7.56%
Long/Short Equity	-1.39%	2.53%	-2.15%
Managed Futures	4.96%	-1.50%	3.64%
Multi-Strategy	-0.46%	1.66%	1.67%
Dow Jones Global Index	-3.62%	7.90%	-6.08%
Barclays Capital Aggregate Bond Index	1.39%	3.40%	4.51%
DJ-UBS Total Return Commodities Index	-2.55%	6.77%	-5.93%

Estimates are based on 70% of assets in the index reporting; final August performance will be published September 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 48,300 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