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Credit Suisse index posts negative hedge fund performance for November


Date: Monday, December 6, 2010
Author: Madison Marriage, Hedge Funds Review

The Credit Suisse Liquid Alternative Beta (CS LAB) Index turned in a negative performance for hedge funds in November, falling 1.29%, as managers struggled to find profitable positions.

European equities took a knock in November as markets failed to take comfort from the eurozone Irish bailout and displayed continued concern over Spain's and Portugal's finances.

Despite November's negative performance, Jordan Drachman, head of research for alternative beta strategies at Credit Suisse, said "four out of the five liquid indices remain in positive territory for the year with the event driven liquid index leading returns at plus 9.79% year-to-date".

CS LAB runs five separate indexes replicating the aggregate return profiles of alternative investment strategies. An algorithm determines the appropriate factors and weightings to replicate the returns of specific hedge fund strategies.

The indexes cover a range of strategies, including long/short equity, global macro, event driven and merger arbitrage.

Credit Suisse provides advisory services and products to companies, institutional clients and high net worth private clients globally, focusing on private banking, investment banking and asset management. In the third quarter of 2010 it registered total assets under management of Sfr1,251.2 billion ($1,262.96 billion).