CSFB/Tremont Hedge Fund Index Posts Positive Return In March

by Phillip Morton, Investors Offshore.com

23 April 2004

Hedge fund managers posted a positive return in March 2004 according to the CSFB/Tremont Hedge Fund Index, which gained 0.28% last month, announced the firm.

"Despite a difficult and volatile environment in the equity and bond markets combined with widening credit spreads, hedge fund managers posted generally positive returns for the month, bringing the Index up 3.42% year-to-date," observed Oliver Schupp, President of Credit Suisse First Boston Tremont Index LLC.

Once again Emerging Markets proved to be the best performing strategy, returning 1.83% last month and 5.86% year to date. Managed Futures, which returned 6.89% in February, was down 0.86% in March, although year to date returns stand at 7.11%.

"Emerging markets managers took advantage of geopolitical fluctuations during March and outpaced all other strategies," noted Robert I. Schulman, Co-Chief Executive Officer of Tremont Capital Management, Inc.

Meanwhile, the CSFB/Tremont Investable Hedge Fund Index is up an estimated 0.08% for the month of March 2004. The confirmed performance for February is 1.32%.

"Volatility in equity and bond markets combined with widening credit spreads left hedge fund managers in a difficult environment, although most sectors in the Investable Index performed in line with the broad index and provided investors with a 2.67% return year-to-date," added Mr. Schupp.

Here, Emerging Markets led the way also, gaining 1.57% in March and 5.97% year to date. Whilst Managed Futures was down 0.57%, it continues to be the leading strategy year to date, returning 7.51%.

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