Performance

Absolute Return indices

by

Converts lead the way in 2009.

Converts lead the way in 2009.

The Absolute Return Convertible & Equity Arbitrage Index posted the highest return of all strategies tracked by Absolute Return for a second month running, up 2.74% for the month and 7.37% for 2009. The U.S. and Global Equity medians lost 1.32% and 1.30%, respectively, forcing their year-to-date losses to more than 1%. Most other strategies remained just above or below water, with CTAs posting 0.10% for the month and 0.29% for the year. Commodities were down 0.24% for a year-to-date loss of 0.11%. The mortgage-backed index was up for its second consecutive month,