UPDATE: Credit Suisse Index Posts Dec. Loss

Jan 15 2009 | 5:04pm ET

As it turns out, hedge funds may not have done as well last month as initially reported.

The Credit Suisse Index Co. has finalized the December performance of the Credit Suisse/Tremont Hedge Fund Index, and in place of the 0.3% return the early estimates showed there is a 0.03% decline. For the full-year, the index fell 19.07%.

“Despite a late month equity rally, hedge fund finished marginally down in December,” CS Index Co. President Oliver Schupp said.

Two subindices estimated earlier this week to have enjoyed a positive December are, in the final analysis, in the red with most of its brethren: event-driven multi-strategy actually fell 0.49% last month, compared to an estimated return of 0.28%, while fixed-income arbitrage swung from a 0.72% rise to a 0.8% loss.

The somewhat disappointing news comes as the remaining 26% of the funds in the CS indices have reported this week. Poorer-performing funds tend to report their results to indices later than those who did relatively well.

Just two of the CS subindices were in the black last year: managed futures at 18.33% and dedicated short-bias at 14.87%. On the reverse side of the ledger, equity market-neutral funds fell 40.32%, convertible arbitrage fell 31.59% and emerging markets 30.41%.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 
Error

From the current issue of