CSFB Tremont Index rebalanced the 6-month-old CSFB/Tremont Investable Hedge Fund index for the first time. Nine funds were added to the index: Maverick; Shepherd; III Fund; Matiner; York; Quadriga; Basso; Gramercy Engin Markets; and Thai Focused. Seven were removed: Cerebrus; Orbis Optimal; Concordia Capital; D. QUANT/Ramsey Futures; LIM Asia Arbitrage; OneWorld Sovereign Growth; and Equalt Selection.
Sector weightings changed with the rebalancing. Long-short equity is 16.24%, up from 12.94%; global macro now is 14.94%, up from 12.44%; fixed-income arbitrage, 13.08%, up from 12.23%; event-driven, 12.05%, from 16.84%; multistrategy, 12%, from 9.11%; managed futures, 10.75%, from 9.69%; convertible arbitrage, 8.45%, from 11.04%; market neutral, 7.69%, from 10.28%; emerging markets, 3.41%, from 3.37%; and dedicated short, 1.39%, from 2.05%.
A total of $1.3 billion in assets is invested in vehicles based on the index. The 60 hedge funds in the 10 style-based sectors comprising the index have a total of $72 billion in assets under management.