Under the agreement, the indexes will be branded Dow Jones Credit Suisse Hedge Fund Indexes, and Dow Jones Indexes will calculate, distribute, and market the indexes, while Credit Suisse affiliates will continue to manage the financial products linked to them, according to a press release. The companies said they intend to keep the methodologies and rules for each of the existing indexes consistent with past practices.
The Dow Jones Credit Suisse Hedge Fund Indexes are a family of hedge fund indexes which include broad market and investable indexes, are constructed from a database of more than 5,000 hedge funds, and seek to provide the most accurate representation of the hedge fund universe. The index family presently consists of 17 indexes, including a range of geographical and strategy-specific hedge fund indexes, and will expand over time.
The current index family includes:
- The Dow Jones Credit Suisse Hedge Fund Index (the Broad Index), formerly known as the Credit Suisse/Tremont Hedge Fund Index – an asset-weighted benchmark that measures hedge fund performance and seeks to provide the most accurate representation of the hedge fund universe.
- The Dow Jones Credit Suisse AllHedge Index – an investable index comprised of all 10 Dow Jones Credit Suisse AllHedge Strategy Indexes (formerly known as the Credit Suisse/Tremont Sector Invest Indexes) weighted according to the sector weights of the Broad Index.
- The Dow Jones Credit Suisse Blue Chip Hedge Fund Index (formerly known as the Credit Suisse/Tremont Investable Hedge Fund Index) – an investable index comprised of 60 of the largest funds across the ten style-based sectors in the Broad Index; and
- The Dow Jones Credit Suisse LEA Hedge Fund Index – an asset-weighted, composite index which provides insight in to three specific regions of the emerging markets hedge fund universe (Latin America, EEMEA (Emerging Europe, Middle East and Africa, and Asia).
The announcement said the current Credit Suisse operational and managerial team remains in place, with Oliver Schupp as president of Credit Suisse Index Co., Inc. Dow Jones Indexes will discontinue its existing hedge fund indexes as of June 30. The joint venture between Credit Suisse and Tremont Capital Management, Inc. has been dissolved.
Additional information about the Dow Jones Credit Suisse Hedge Fund Indexes can be found at www.hedgeindex.com.
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