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CSFB/Tremont Hedge Fund Index Performs Well In June

by Philip Morton, Investors Offshore.com

21 July 2003

The CSFB/Tremont Hedge Fund Index was up 0.83% in June, it emerged last week.

Speaking with regard to the positive results, Oliver Schupp, president of Credit Suissse First Boston Tremont Index LLC, explained that:

'The stock market rally through the early part of June, another rate cut by the Federal Reserve and general optimism about the global economy led hedge funds higher in June.' He continued:

'Although some funds found themselves on the wrong side of a trade when earnings disappointments and a mareket correction in the second half triggered a temporary sell-off, hedge funds as an asset class continued to provide positive, absolute returns.'

Distressed funds, Emerging Market funds, and Global Macro funds performed particularly well last month, and were up 2.63%, 2.02%, and 1.63% respectively.

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