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CSFB Hedge Fund Index Up 2.71% In May

by Philip Morton, Investors Offshore.com

19 June 2003

The CSFB/Tremont Hedge Fund Index was up 2.71% for May, president of Credit Suisse First Boston Tremont Index LLC, Oliver Schupp revealed on Monday.

'As equity markets continued the run-up that began in March, hedge funds, more specifically directional equity-oriented hedge funds, took advantage of the bullish signals and posted solid gains during May,' Mr Schupp announced, continuing:

'Year-to-date, the broadly diversified Index is up 7.05%, leaving it slightly more than 3% behind the S&P but continuing to provide comparatively higher-risk adjusted returns.'

The Standard & Poor's Hedge Fund Index recently posted returns of 2% for May.

The CSFB/Tremont Hedge Fund Index is constructed using the TASS database of more than 2,600 hedge funds, and includes both open and closed funds located in the US and offshore. However, it does not cover funds of funds.

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