The Credit Suisse/Tremont hedge fund indexes are becoming the Dow Jones Credit Suisse indexes, as one indexing partnership ends and another begins.

Credit Suisse and Dow Jones Indexes announced that they have signed a deal that will see the Credit Suisse/Tremont Hedge Fund Indexes change their names to the Dow Jones Credit Suisse Hedge Fund Indexes. Dow Jones will calculate, distribute and market the indexes, while Credit Suisse affiliates will continue to manage the financial products linked to them. The index methodologies and rules are not to change.

Dow Jones Indexes will discontinue its existing hedge fund indexes as of June 30. Meanwhile, the joint venture between Credit Suisse and Tremont Capital Management, Inc. has been dissolved, the firms reported.

The newly-named indexes are a family of hedge fund indexes which include broad market and investable indexes designed to track hedge fund performance, which are constructed from a database of more than 5,000 hedge funds. The index family currently consists of 17 indexes, including a range of geographical and strategy-specific hedge fund indexes, and will expand over time.

Oliver Schupp, president, Credit Suisse Index Co., Inc. said, “This collaboration merges the hedge fund expertise of Credit Suisse with the technology and distribution strengths of Dow Jones Indexes and we are eager to work with them in our continued efforts to develop industry-leading benchmarks and innovative alternative investment solutions.”

“This family of hedge fund indexes will be a prominent benchmark for hedge fund performance within the industry,” said Michael Petronella, president designate, Dow Jones Indexes.

IE