The Dow Jones Credit Suisse Core Hedge Fund Index finished down 1.71% in May as alpha remained elusive amidst a difficult trading environment.

Oliver Schupp, President of Credit Suisse Index Co, LLC, says: "May was a challenging month for hedge fund managers across strategies as relatively low volatility levels, higher intra-stock correlations and continued market sell-offs created a difficult trading environment. Overall, the Dow Jones Credit Suisse Core Hedge Fund Index was down 1.71% for the month. Managed Futures saw the most significant decline, falling 4.40% as positions in energy, currencies and equities detracted from performance."

The Dow Jones Credit Suisse Core Hedge Fund Index provides the benefit of daily valuations which enables investors to more accurately track the impact of market events on the hedge fund industry. May, April and 2011 year-to-date performance is listed below and available at www.hedgeindex.com.