Hedge Funds

CSFB drops Cerberus but adds Maverick to index

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The CSFB/Tremont Investable Hedge Fund Index will now include such well-known funds as Maverick, York and III, at the same time dropping other names including Cerberus.

The $1.3 billion index's managers made the additions of nine new funds and subtraction of seven others on April 1 as part of the first rebalancing of the product's portfolio.

Officials would not comment on the reasons for specific substitutions. Generally, the index is made up of the six largest funds in each of 10 constituent strategies that are still accepting capital and are willing to report numbers to the index provider.