Credit Suisse LAB Index down 0.9% in May

Date: Tuesday, June 7, 2011
Author: Wendy Chothia, HedgeWeek

The Credit Suisse LAB Liquid Indices posted mostly negative performance in May, signalling a challenging month for hedge funds according to Dr Jordan Drachman, Head of Research for Alternative Beta Strategies at Credit Suisse.

"The Credit Suisse Liquid Alternative Beta Index ("CSLAB"), which aims to reflect the performance of the overall hedge fund industry, generated negative performance in May, finishing down 0.90% for the month," says Drachman. "The Credit Suisse Long/Short Liquid Index, which seeks to replicate the aggregate return of Long/Short Equity hedge funds, dropped 0.93% as equity markets fell amidst downgraded economic outlooks and disappointing first quarter earnings reports. Year-to-date, however, the strategy remains the top performer, up 5.58%."