GLOBAL - The CSFB/Tremont Hedge Fund Index returned 1.95% for December 2003 and 15.44% for 2003.
Oliver Schupp, president of Credit Suisse First Boston Tremont Index said: “A broad economic recovery in 2003, equity returns of 30% worldwide and solid performance in most hedge fund sectors drove the Index to a strong 1.95% return in December and 15.44% for 2003.”
Robert Schulman, co-chief executive officer of Tremont Capital Management said: The year-end story belongs to the emerging markets sector. The strategy provided consistent returns to investors all year and finished up at 28.75%.
Convertible arbitrage funds returned 0.70% as on December 2003 and 12.90% for the entire year. Distressed funds performed well, returning 1.73% for December and 25.12% for 2003. Event driven funds returned 1.49% for December and 20.02% for the whole year.
The CSFB/Tremont Hedge Fund Index value is 286.89 returning 186.89% for the 120-month period since its inception in 1994.
The CSFB/Tremont Investable Hedge Fund Index is up 1.26% for the month of December 2003.
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