Investing August 15, 2001

CSFB/Tremont Hedge Index Totally Flat in July

August 15, 2001 (PLANSPONSOR.com) - The CSFB/Tremont Hedge Fund Index came in totally flat at 0.0% for July 2001, with gains in dedicated short bias and convertible arbitrage cancelled out by losses in emerging markets and long/short equity strategies.
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Still, the return compares favorably with other benchmarks, notably:

  • the S&P 500, which fell by 1.1%
  • the Nasdaq, which lost 6.2% of its value
  • the MSCI World Index, which was down by 1.4%.

Year to date, the CSFB/Tremont Hedge Fund has outperformed all major indices, increasing 2.1%, compared to negative returns in the Nasdaq, S&P 500 and the MSCI World.

The month’s best performing funds were those that followed a dedicated short bias strategy. These finished the month up by 4.1% for a year to date return of 3.7%.

On a year-to-date basis, global macro funds proved to be the clear winner, rewarding investors with a 12.2% for the first seven months of 2001.

On the down side, emerging market funds once again proved volatile, as the crisis in Argentina deepens, the funds falling -3.0% in July after gaining 1.5% the previous month.

 The CSFB/Tremont Hedge Fund Index is comprised of 375 funds as of July 1,  up from 339 funds.  The Index is reselected quarterly, and 47 funds were added in July, while 11 were dropped. 


 

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