Investable indexes - March 2009

Final performance for the Credit Suisse/Tremont Hedge Fund Index was up 0.65% in March. Hedge funds posted slight gains for the month, bringing YTD returns to 0.85%. As markets continue to demonstrate volatility, hedge funds remain defensively positioned, which prevented some managers from fully capitalising on February's equity rally. However, despite March gains, most equity indices are down for the year, while hedge funds' returns to date have been positive with far less volatility. Emerging