Investable indexes - May 2009

Final performance for the Credit Suisse/Tremont Hedge Fund Index was up 4.06% in May capturing the largest monthly gains since February 2000. Emerging markets funds were the strongest performers, finishing up 6.96%. The emerging markets experienced a significant turnaround over the last three months as risk appetite seems to be returning to markets. Investors are encouraged by positive signs of global growth and rising commodities prices. Convertible arbitrage managers also performed well during