Hedge Funds Post Their Best Monthly Returns in Over Nine Years as Managers Show Increased Risk Appetite

NEW YORK--(Business Wire)--
The Credit Suisse/Tremont Hedge Fund Index finished up 4.1% in May, with nine
out of ten sub-strategies posting positive returns. A new Credit Suisse/Tremont
Hedge Fund Index monthly commentary provides further insight.Key findings from
the report include:

* Emerging Markets managers, up almost 7% in May, benefited from increased
optimism about global growth and rising commodity prices, with Eastern
European-focused managers outperforming other regions for the third month in a
row.
* Convertible Arbitrage funds continue to make a comeback, finishing up 5.8% for
the month. In the US, the nearly $6 billion in new convertible bond issuances
were met with healthy demand from a spectrum of investors.
* Many Long/Short Equity managers increased their net long exposures resulting
in a 5.2% return for the month, the highest monthly return for the strategy
since June 2000. Some remain cautious that a switch from a government-led
recovery to a consumer-led recovery may face hurdles.
* The Global Macro sector generated positive returns for a seventh consecutive
positive month, finishing up 1.5%. The strategy`s flexibility and tactical
trading ability may have helped managers to post positive returns during both up
and down equity market environments in 2009.

Click here to view the full report, which also includes an overview of May hedge
fund performance, in-depth commentary on individual hedge fund sectors and hedge
fund return dispersion statistics for each strategy.

Credit Suisse Tremont Index LLC industry commentaries and publications are
available on the Research section of their website, www.hedgeindex.com.

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Bode Associates
Meg Bode, 516-869-6610
meg@bodeassociates.com
or
Credit Suisse
Suzanne Fleming, 212-325-7396
Corporate Communications
suzanne.fleming@credit-suisse.com

Copyright Business Wire 2009