CSFB Unveils Hedge Index Tracker Offering

February 14, 2002 (PLANSPONSOR.com) - Credit Suisse First Boston has a new alternative investment offering for pension funds and other institutional investors.

CSFB unveiled the Hedgefund Index Participations (HIP) tracking fund that will match the performance of the CSFB/Tremont hedge fund index. Shares in the new fund will be listed in Dublin, according to Investment & Pensions Europe.

The company said in an announcement that the index is constructed using more than 2,600 hedge funds including those in both the US and offshore, but excluding fund of funds products.

CSFB says HIP will be diversified across a wide spread of hedge fund managers and strategies, according to the report.

The company will not impose exit charges nor performance-based fees and will allow investors to buy into the fund monthly and redeem quarterly.

In the eight years since the creation of the CSFB/Tremont, it has returned an average 11.6% a year compared with 8.7% for the FTSE 100 index.