Investing August 15, 2003

CSFB/Tremont: Hedge Funds Squeeze Out 0.08% July Gain

August 15, 2003 (PLANSPONSOR.com) - The CSFB/Tremont Index managed to wring out a 0.08% gain in July, on the back of Distressed Securities.
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The Distressed Securities Index’s 1.18% gain was enough to prop up the composite, now up 8.03% year-to-date.   In June, the aggregate was up 0.83%, according to data released by CSFB/Tremont Index.

Overall, results among the Index components were evenly mixed between gainers and losers.   After Distressed Securities, now up 15.41% YTD, was the Event Driven Index with a 0.95% gain (12.08% YTD).   Among the other monthly winners:

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  • Event Driven Multi-Strategy – 0.81%
  • Equity Market Neutral – 0.68%
  • Emerging Markets – 0.56%
  • Risk Arbitrage – 0.48%

Conversely, the Managed Futures Index, lost 2.75% in July, its second losing month in a row.   However, for the year, Managed Futures are still on the positive side, up 7.47%.   Among the month’s other indexes in the red:

  • Dedicated Short Bias – off 2.06%
  • Fixed Income Arbitrage – down 0.98%
  • Convertible Arbitrage – lower by 0.35%

Performance for the CSFB/Tremont Hedge Fund Index is calculated monthly.  Full July and year-to-date returns for all categories are at  www.hedgeindex.com .

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