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*Total Return Indices<\/p>\n
The Credit Suisse\/Tremont Hedge Fund Index value is 364.88 returning 264.88% for the 148-month period since inception (January 1, 1994 through April 30, 2006).<\/p>\n
For additional current and historical data including more comparisons with other widely followed global indices, visit the Credit Suisse\/Tremont Hedge Fund Index web site at www.hedgeindex.com<\/a>.<\/p>\n The Credit Suisse\/Tremont Hedge Fund Index is comprised of 424 funds as of April 30, 2006.<\/p>\n The following funds are no longer reporting to the Credit Suisse\/Tremont Hedge Fund Index: Lion Global Opportunity Fund Ltd, UT Technology Partners, and Double Alpha Fund. The following fund, Sagamore Hill Hub Fund Ltd, changed strategy classification from Multi-Strategy to Event Driven. The following funds were added to the Credit Suisse\/Tremont Hedge Fund Index: Bear Stearns Emerging Markets Macro Master Fund Ltd, FrontPoint Asia Pacific Fund LP, Talentum Activedge & Enhanced Funds, Amber Master Fund SPC, Drake Global Opportunities Fund, AlphaGen Capella Fund Ltd., Rodinia Master Fund Ltd., RAB Special Situations Fund, FrontPoint Japan Funds, Highline Capital, Pershing Square, FrontPoint Financial Services Fund LP., AlphaGen Tucana Fund Ltd., AlphaGen Hokuto Fund Ltd., AlphaGen Velas Fund Ltd., Aster-X Europe Fund, and IKOS Financial Fund.<\/p>\n The Index is constructed using the Credit Suisse\/Tremont database of more than 4,500 hedge funds. It includes both open and closed funds located in the U.S. and offshore, but does not include fund of funds. In order to qualify for inclusion in the index selection universe, a fund must have a minimum of US $50 million under management, a 12-month track record, and audited financial statements. Index funds are selected using a formula based on assets under management. That ensures the Index represents at least 85% of total assets in each of ten strategy-based sectors in the selection universe. In order to minimize survivorship bias funds are not excluded until they liquidate or fail to meet the reporting requirements. The Index is calculated as a total return index on a monthly basis, adjusted for asset in- and outflow, including a reselection according to the procedure outlined above on a quarterly basis.<\/p>\n Return for the Credit Suisse\/Tremont Investable Hedge Fund Index<\/strong><\/u><\/p>\n The Credit Suisse\/Tremont Investable Hedge Fund Index is up an estimated 1.77% net for the month of April 2006. The confirmed performance for March is up 1.60% net.<\/p>\n Performance for the Credit Suisse\/Tremont Investable Hedge Fund Index is calculated monthly. Returns for the months of April, March, and year-to-date 2006 are listed below and at www.hedgeindex.com<\/a>. The return shown is net of a 0.07% calculation fee.<\/p>\n The Credit Suisse\/Tremont Investable Hedge Fund Index was launched with 60 funds and was set at 100 on August 1, 2003.<\/p>\n The funds currently included in the index are available on the web site at www.hedgeindex.com<\/a>.<\/p>\n The Credit Suisse\/Tremont Investable Hedge Fund Index is designed to give investors broad exposure to hedge funds as an asset class. It fulfills investor demand for index-linked products created to reduce dependency on fund manager selection and fund concentration risk.<\/p>\n The Credit Suisse\/Tremont Investable Hedge Fund Index is based on the broad Credit Suisse\/Tremont Hedge Fund Index, which is the largest hedge fund index with $414.8 billion in assets managed by 424 funds as of April 30, 2006.<\/p>\n The funds in the Credit Suisse\/Tremont Investable Index or the Credit Suisse\/Tremont Sector Invest Indices are selected from the funds included in the Credit Suisse\/Tremont Hedge Fund Index. The Credit Suisse\/Tremont Investable Hedge Fund Index and the Credit Suisse\/Tremont Sector Invest Index comprise the largest funds that are open to investment and meet certain liquidity conditions in each of the 10 style-based sectors. The fund selection rules can be found on www.hedgeindex.com<\/a> and include the following criteria:<\/p>\n \u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u00a2 The funds are selected from the Credit Suisse\/Tremont Hedge Fund Index by an asset-based formula<\/p>\n \u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u00a2 The funds generally represent the largest eligible \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201copen\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d funds in each of the ten sectors<\/p>\n \u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u00a2 The funds are determined by application of the construction rules<\/p>\n \u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u00a2 Member funds must provide timely performance reporting, audited financials and offering memorandum review for inclusion<\/p>\n Additional features of the Credit Suisse\/Tremont Index series include:<\/p>\n![\"Frame2\"](\"\/images\/articles\/html_m7cd34d05.gif\")
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