Investable indexes - April 2009

Final performance for the Credit Suisse/Tremont Hedge Fund Index was up 1.68% in April. Risk appetite returned to markets along with increased investor confidence. This benefited most hedge fund sectors in April. Convertible arbitrage had another strong month, gaining 4.52% in April and is currently up 12.58% YTD. Nonetheless, while economic data appears to be improving, market conditions remain tenuous. Most hedge funds continue to maintain their defensive positioning and this trend is expected