Performance

Absolute Return indices

by

New year signals hope for equity market.

It was a good start to the year for all Absolute Return medians with strategies posting positive returns across the board. The U.S. and Global Equity medians were just above water with gains of 0.37% and 0.30%, respectively, while the Technology median outperformed its peers with a 1.59% monthly return. Surprisingly, the highest return in January came from Convertible Equity Arbitrage, which was up 4.51%. Distressed funds also showed sign of recovery after seven consecutive monthly declines, posting a healthy 1.57% in January. RB

ABSOLUTE RETURN STRATEGY INDICES

Strategy

Jan 09

YTD 09

Jan 09

YTD 09

Arbitrage

1.31%

1.31%

2.94%

2.94%

Commodities

0.13%

0.13%

1.10%

1.10%

Convertible & Equity Arbitrage

4.51%

4.51%

4.56%

4.56%

Credit

1.40%

1.40%

1.40%

1.40%

CTAs

0.19%

0.19%

0.05%

0.05%

Distressed

1.57%

1.57%

1.74%

1.74%

Event Driven

1.55%

1.55%

2.50%

2.50%

Fixed Income

1.50%

1.50%

1.90%

1.90%

Global Equity

0.30%

0.30%

0.57%

0.57%

Latin American