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.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.
This week's top stories included coverage of the much-anticipated defined benefit (DB) white paper and the sector's reaction.