Key Takeaways
- • Credit Suisse and Dow Jones Indexes signed an agreement on June 22, 2010 covering the calculation, licensing, branding and marketing of the hedge fund indexes formerly known as the Credit Suisse/Tremont Hedge Fund Indexes, which will now be branded the Dow Jones Credit Suisse Hedge Fund Indexes.
- • Dow Jones Indexes will calculate, distribute and market the index family, while Credit Suisse affiliates continue to manage the financial products linked to the indexes.
- • The index family currently comprises 17 indexes built from a database of more than 5,000 hedge funds, spanning broad, investable, and regional emerging-markets benchmarks.
- • The joint venture between Credit Suisse and Tremont Capital Management has been dissolved, and Dow Jones Indexes will discontinue its existing hedge fund indexes as of June 30, 2010.
- • Oliver Schupp remains president of Credit Suisse Index Co., Inc., and the methodologies and rules of existing indexes are intended to remain consistent with past practice.
Summary
Credit Suisse and Dow Jones Indexes signed an agreement on June 22, 2010 covering the calculation, licensing, branding and marketing of the hedge fund indexes previously known as the Credit Suisse/Tremont Hedge Fund Indexes, according to a Credit Suisse press release distributed via PR Newswire. Under the deal, the indexes will be branded the Dow Jones Credit Suisse Hedge Fund Indexes. Dow Jones Indexes will take over calculation, distribution and marketing, while Credit Suisse affiliates will continue to manage the financial products linked to the indexes. The two firms stated their intention to keep the methodologies and rules for each existing index consistent with past practices.
The index family presently consists of 17 indexes, including geographic and strategy-specific benchmarks, and is expected to expand over time. The Broad Index, formerly the Credit Suisse/Tremont Hedge Fund Index, is an asset-weighted benchmark constructed from a database of more than 5,000 hedge funds. The Dow Jones Credit Suisse AllHedge Index is an investable index comprising all 10 AllHedge Strategy Indexes, weighted according to the sector weights of the Broad Index. The Blue Chip Hedge Fund Index, formerly the Credit Suisse/Tremont Investable Hedge Fund Index, is an investable index of 60 of the largest funds across the ten style-based sectors. The LEA Hedge Fund Index is an asset-weighted composite covering Latin America, Emerging Europe, Middle East and Africa, and Asia.
Oliver Schupp, president of Credit Suisse Index Co., Inc., said the collaboration combines Credit Suisse's hedge fund expertise with the technology and distribution strengths of Dow Jones Indexes. Michael A. Petronella, president designate of Dow Jones Indexes, said the family would become a prominent benchmark for hedge fund performance within the industry. The existing Credit Suisse operational and managerial team remains in place. Dow Jones Indexes will discontinue its existing hedge fund indexes as of June 30, 2010, and the joint venture between Credit Suisse and Tremont Capital Management, Inc. has been dissolved. Further details are available at www.hedgeindex.com.
The index family presently consists of 17 indexes, including geographic and strategy-specific benchmarks, and is expected to expand over time. The Broad Index, formerly the Credit Suisse/Tremont Hedge Fund Index, is an asset-weighted benchmark constructed from a database of more than 5,000 hedge funds. The Dow Jones Credit Suisse AllHedge Index is an investable index comprising all 10 AllHedge Strategy Indexes, weighted according to the sector weights of the Broad Index. The Blue Chip Hedge Fund Index, formerly the Credit Suisse/Tremont Investable Hedge Fund Index, is an investable index of 60 of the largest funds across the ten style-based sectors. The LEA Hedge Fund Index is an asset-weighted composite covering Latin America, Emerging Europe, Middle East and Africa, and Asia.
Oliver Schupp, president of Credit Suisse Index Co., Inc., said the collaboration combines Credit Suisse's hedge fund expertise with the technology and distribution strengths of Dow Jones Indexes. Michael A. Petronella, president designate of Dow Jones Indexes, said the family would become a prominent benchmark for hedge fund performance within the industry. The existing Credit Suisse operational and managerial team remains in place. Dow Jones Indexes will discontinue its existing hedge fund indexes as of June 30, 2010, and the joint venture between Credit Suisse and Tremont Capital Management, Inc. has been dissolved. Further details are available at www.hedgeindex.com.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.