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New Credit Suisse/Tremont Hedge Fund Index research paper reviews hedge fund performance in 2008


Date: Tuesday, January 27, 2009
Author: Business Wire

Credit Suisse Tremont Index LLC today released a new research piece, One for the History Books: Hedge Fund Performance in 2008, a review of the factors which contributed to hedge funds’ dismal -19% return in 2008

 

The report discusses the impact of events such as the fall of Lehman Brothers, the short sale ban and the scandal surrounding Bernard Madoff, offering insight into the impact of each event on individual sectors and the hedge fund industry as a whole. The piece also offers some comparisons to past market downturns, periods in which strategies saw severe declines in assets under management and how performance was impacted in the years that followed. Some key takeaways from the report include:

  • The Broad Index, a diversified, asset weighted hedge fund index comprised of 496 underlying hedge funds (as of December 31, 2008), was down 19% for the year, marking 2008 the worst year in the history of the Broad Index.
  • It is estimated that the hedge fund industry lost approximately 29% of assets in 2008, totaling $582 billion, representing the first time in six years that the hedge fund industry has seen net asset losses.
  • One in five funds within the Broad Index posted positive returns for the year, with almost one in seven posting returns in the double digits.

Credit Suisse Tremont Index LLC industry commentaries and publications are available on the News & Press/Research section of our website, www.hedgeindex.com.

Information

Credit Suisse Hedge Fund Index Investor Relations, telephone +1 212 538 0583, hfindices.ir@credit-suisse.com

Meg Bode, Bode Associates, telephone 516 869 6610, meg@bodeassociates.com

Tamsin Chance, Corporate Communications, Credit Suisse, telephone 212 325 1863, tamsin.chance@credit-suisse.com

Credit Suisse

As one of the world's leading banks, Credit Suisse provides its clients with private banking, investment banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 50,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) 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 the full spectrum of investment classes, ranging from equities, fixed income and multiple-asset class products, to alternative investments. 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 23 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.

The Asset Management business of Credit Suisse is comprised of a number of legal entities around the world that are subject to distinct regulatory requirements; certain asset management 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.

Contact:

Credit Suisse Hedge Fund Index Investor Relations
telephone +1 212 538 0583
hfindices.ir@credit-suisse.com
or
Bode Associates
Meg Bode
telephone 516 869 6610
meg@bodeassociates.com
or
Credit Suisse
Tamsin Chance, Corporate Communications
telephone 212 325 1863
tamsin.chance@credit-suisse.com