Hedge Funds Finish the First Quarter in Positive Territory, Based on Credit Suisse Liquid Alternative Beta ("LAB") Index Performance

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Apr 06, 2010, 12:58 ET

NEW YORK, April 6 /PRNewswire-FirstCall/ -- The performance for the LAB Liquid Indices through March suggests that overall hedge fund performance will be positive for the month, according to Jordan Drachman, Head of Research for Alternative Beta Strategies at Credit Suisse.

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Dr. Drachman noted, "The Credit Suisse Liquid Alternative Beta Index ("CSLAB") was up 1.02% in March and 1.83% year-to-date suggesting that in aggregate, hedge funds will continue their streak of positive performance through the first quarter. CSLAB aims to replicate the performance of the Credit Suisse/Tremont Hedge Fund Index which has been up every month since March 2009, as the hedge-fund space has evolved from being more directional in nature to employing a range of investment strategies aimed at providing better diversification from traditional market movements."

About LAB Indices

LAB is a series of indices that seek to replicate the aggregate return profiles of alternative investment strategies using liquid, tradable instruments 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.

Performance for the LAB 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 >.

    
    
                                              Mar-10       Feb-10        YTD
    Credit Suisse Liquid Alternative
     Beta Index                                 1.02%        0.75%      1.83%
    LAB Long/Short Liquid Index                 3.57%        1.01%      3.10%
    LAB Global Macro Liquid Index              -2.97%        1.14%     -0.71%
    LAB Event Driven Liquid Index               2.15%        0.52%      3.59%
    LAB Merger Arbitrage Liquid Index           0.94%        0.13%      2.29%

The LAB family of indices includes five separate indices which are valued daily and returns listed on Bloomberg:

The Liquid Alternative Beta Index seeks to reflect the return of the overall hedge fund industry as represented by the Credit Suisse/Tremont Hedge Fund Index. Bloomberg ticker, CSLAB;
The Long/Short Liquid Index seeks to reflect the return of hedge funds as represented by the Long/Short Equity sector of the Credit Suisse/Tremont Hedge Fund Index, Bloomberg ticker, CSLABLS;
The Global Macro Liquid Index seeks to reflect the return of hedge funds as represented by the Global Macro sector of the Credit Suisse/Tremont Hedge Fund Index, Bloomberg ticker, CSLABGM;
The Event Driven Liquid Index seeks to reflect the return of hedge funds as represented by the Event Driven sector of the Credit Suisse/Tremont Hedge Fund Index, Bloomberg ticker, CSLABED and
The Credit Suisse Merger Arbitrage Liquid Index aims to gain broad exposure to the Merger Arbitrage strategy using a pre-defined quantitative methodology to invest in a liquid, diversified and broadly representative set of announced merger deals, Bloomberg ticker, CSLABMA.

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

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 47,400 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.

Asset Management

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