CSBF/Tremont Index down

The CSFB/Tremont Hedge Fund Index is down -0.6% for February 2001, according to Robert Sloan, chief executive officer of Credit Suisse First Boston Tremont Index LLC. Sloan said: "Hedge funds managed to limit losses for broadly diversified investors during the market sell-off in February. Unfortunately, the major indices suffered significant damage as did long-only portfolios."

Dedicated short biased managers achieved the highest returns in February of 8.3%.