Hedge fund weightings shifted in rebalancing

The CSFB/Tremont Investable Hedge Fund index was rebalanced Oct. 1. The semiannual rebalancing increased the weightings from April 1 levels in equity market neutral to 9.22% from 7.17%; event driven, to 16.95% from 16.74%; fixed-income arbitrage, to 14.06% from 12.72%; multistrategy, to 14% from 12%; dedicated short, to 1.92% from 1.72%; and emerging markets, to 5.66% from 5.27%. Weightings were lowered for convertible arbitrage, to 4.2% from 6.87%; global macro, to 11.03% from 11.57%; long-short equity, to 13.61% from 15.27%; and managed futures, to 9.33% from 10.67%.