Credit Suisse is capitalising on the ongoing imbalance between energy supply and demand and launching index certificates for investors inter...

Credit Suisse is capitalising on the ongoing imbalance between energy supply and demand and launching index certificates for investors interested in investing in the entire energy value chain. The certificates will be marketed under the Gardner Energy MacroIndex name and will make it possible for investors to access the global energy market. The MarcoIndex will be a broadly diversified global energy index comprised of hedge funds. According to Credit Suisse, investments will be made in the entire energy spectrum, from exploration and development companies to refineries, petrochemical firms and suppliers, to shipping and logistics companies. The investments will not be limited to crude oil and natural gas, but cover all energy sources including coal, hydro power, nuclear power, biomass and renewable energies. The spectrum also includes companies operating in the fields of natural gas condensates, liquefied natural gas, compressed natural gas, gas to liquid, clean coal, hydrogen and related technologies. The index's underlyings are actively managed and, as well as listed securities, include private equity, structured financing deals, public sector debt issues and energy derivatives. The MacroIndex is denominated in US dollars, and the Credit Suisse certificates are offered in denominations of 1,000 US dollars, Swiss francs and euros. The exchange rate risk is reduced by currency hedging. The minimum investment is ten certificates. The subscription period will end on March 22, 2005.