Long/Short Equity Hedge Funds Finish 2009 with Double-Digit Returns, Based on Credit Suisse Liquid Alternative Beta ("LAB") Index Performance

Jan 05, 2010, 14:15 ET from Credit Suisse AG

NEW YORK, Jan 5 /PRNewswire/ -- Based on December performance for the Credit Suisse Long/Short Equity Liquid Index ("LAB Long/Short Equity Liquid Index"), Long/Short Equity funds ended the year on a high note as managers took advantage of increased equity market opportunities to further their gains in December, according to Jordan Drachman, Head of Research for Alternative Beta Strategies at Credit Suisse.

(Logo: http://www.newscom.com/cgi-bin/prnh/20091204/CSLOGO )

Dr. Drachman noted, "Long/Short Equity hedge funds experienced positive December returns in line with many global equity markets. In particular, managers were able to capitalize on increased volatility in Asian markets, including a significant year-end rebound in Japan which contributed to opportunities in the sector. The LAB Long/Short Equity Liquid Index was up 1.19% (net) for the month and 13.12% (net) year to date. However, the Credit Suisse Global Macro Liquid Index ("LAB Global Macro Liquid Index") was down 1.70% (net) in December and up 3.93% (net) 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 Equity 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 Equity Liquid Indices (shown below) is calculated daily and shown net of a 0.50% per annum calculation fee. 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 >.




                                                Dec-09     Nov-09      2009
                                                ------     ------      ----
    LAB Long/Short Equity Liquid Index (Net)     1.19%     -0.75%    13.12%
    ----------------------------------------     -----     ------    ------
    Credit Suisse/Tremont Long/Short Equity
     Hedge Fund Index                             N/A*      1.92*      N/A*
    ---------------------------------------      -----      -----      ----
    LAB Global Macro Liquid Index (Net)         -1.70%      2.23%     3.93%
    -----------------------------------         ------      -----     -----
    Credit Suisse/Tremont Global Macro Hedge
     Fund Index                                   N/A*      3.52*      N/A*
    ----------------------------------------      ----      -----      ----
    S&P 500 TRI Index**                          1.93%      6.00%    26.47%
    -------------------                          -----      -----    ------
    Dow Jones World Index**                      2.23%      3.81%    31.97%
    -----------------------                      -----      -----    ------

    *  December performance will be published January 15th on Bloomberg and
       online at www.hedgeindex.com
    ** Total Return Indices


Additional features of the LAB Long/Short Equity 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

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. 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 necessarily a guide to the future. 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.

Copyright © 2010, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.

SOURCE Credit Suisse AG



RELATED LINKS

http://www.credit-suisse.com