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Press Release
Credit Suisse Announces the Launch of New Long/Short Equity Replication Index
London, May 19, 2008 Credit Suisse announced today that it has launched the Long/Short Equity Replication Index, the first in a planned suite of Alternative Index Replication (AIR) products that will be designed to replicate the performance of the major hedge fund strategies.
The Credit Suisse Long/Short Equity Replication Index aims to capture the risk/return characteristics represented by the Credit Suisse/Tremont Long/Short Equity Hedge Fund Index. Index values are finalized daily and quoted on Bloomberg under the symbol AIRI.
Oliver Schupp, Head of Beta Strategies, said, "Long/short equity is typically the largest allocation and dominant return source in hedge fund portfolios, and investors today are growing increasingly concerned about the correlation of their hedge fund investments to the broad equity markets. This index allows them to gain systematic exposure and enhanced liquidity through a direct investment, or to tactically adjust their portfolios through a short position." Walter Rotondo, Head of Fund Linked Products, went on to say, "The Long/Short Equity Replication Index allows our clients to participate in the performance of this rapidly growing market segment."
The Credit Suisse AIR approach, led by Head of Research, Jordan Drachman, draws upon a strategic alliance with leading academic researchers in the field of quantitative investments: Professors Bill Fung, David Hsieh, and Narayan Naik. These three research advisors are pioneers in the field of alternative beta, providing unique insights and helping to fine-tune the development of the long/short equity replication model with experienced, independent viewpoints that ensure a sound academic basis for the methodology.
Credit Suisse has helped pioneer the measurement of alternative beta for more than a decade. By bringing together indexing expertise, the academic partnership and extensive global resources, Credit Suisse has created a solid foundation for developing alternative index replication products.
Enquiries:
- Suzanne Fleming, Corporate Communications/Credit Suisse, Tel. +1 212 325 7396, suzanne.fleming@credit-suisse.com
- Credit Suisse
- As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 48,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
In its Asset Management business, Credit Suisse offers products across the full spectrum of investment classes and multiple-asset class products. Credit Suisse's Asset Management business manages assets for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 23 countries, Credit Suisse's Asset Management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.
The Asset Management business of Credit Suisse is comprised of a number of legal entities around the world that are subject to distinct regulatory requirements; certain asset management products and services may not be available in all jurisdictions or to all client types.Certain statements in this Press Release constitute "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. The Companies assume no obligation to update these forward looking statements to reflect actual results, changes in assumption or changes in other factors affecting such forward looking statements.
