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Credit Suisse launches ETN linked to long/short liquid index


US investors will be able for the first time to access the Credit Suisse Tremont Long/Short Equity Hedge Fund Index strategy through an exchange-traded product.

Credit Suisse’s investment banking division is launching an exchange-traded note on one of the asset management liquid alternative beta indices.

The Credit Suisse Long/Short Liquid Index (Net) ETN designed to correlate to the historical performance of the Credit Suisse Tremont Long/Short Equity Hedge Fund Index by tracking the performance of non-hedge fund, transparent market measures.

The exchange-traded approach offers a variety of advantages to investors, including real-time pricing, intraday liquidity and portfolio transparency – advantages previously not associated with alternative investments.

The ETN does not invest directly in hedge funds and therefore does not have the risks usually associated with hedge funds such as illiquidity, fraud risk or individual manager risk.

"We are very excited to be bringing the return profile of our leading hedge fund indices to a broad US investor base through the launch of this new ETN," says Oliver Schupp, president of Credit Suisse Tremont Index and head of the beta strategies group which manages Credit Suisse’s liquid alternative beta strategies.

The ETN seeks to replicate the performance of the long/short equity hedge fund sector as represented by the Credit Suisse Long/Short Liquid Index (Net), an index which is calculated intraday and reflects the return of a dynamic basket of 18 liquid, investable market factors. These factors are selected and weighted monthly in accordance with an algorithm that aims to track the performance of the Credit Suisse Tremont Long/Short Equity Hedge Fund Index.

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