Daily - 08/16/2007  Jul 2006 2005 2004 2003 
HFRX Index DTD MTD YTD Value * ROR TOTAL TOTAL TOTAL TOTAL 
HFRX Global Hedge Fund Index -1.3839 -5.5387 -0.4414 1270.14 -0.93 9.26 2.72 2.69 13.39 
HFRX Equal Weighted Strategies Index -1.1388 -4.9915 -0.1397 1227.49 -0.65 8.83 1.28 2.72 11.32 
HFRX Absolute Return Index -0.4513 -2.5217 3.7047 1141.78 0.35 7.43 -0.03 3.20 11.95 
HFRX Market Directional Index -2.0801 -7.8524 -2.1905 1176.98 -1.82 10.45 4.20 4.85 25.22 

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  HFRX Convertible Arbitrage Index -0.9421 -3.7111 -1.5837 1041.05 -0.73 9.57 -5.69 -0.14 8.85 
  HFRX Distressed Securities Index -0.3601 -0.3575 4.1637 1450.06 -1.13 9.56 1.21 8.95 20.90 
  HFRX Equity Hedge Index -1.2918 -5.6809 -0.3384 1299.44 -1.40 9.23 4.19 2.18 14.47 
  HFRX Equity Market Neutral Index -0.5051 -4.3807 1.5530 1039.27 -0.42 4.76 0.21 0.32 -2.38 
  HFRX Event Driven Index -1.8318 -5.2352 2.5785 1451.85 -0.74 10.32 2.81 6.93 18.74 
  HFRX Macro Index -3.6463 -10.9687 -10.5832 1122.00 -3.13 5.61 6.67 -0.32 14.61 
  HFRX Merger Arbitrage Index -0.1383 -3.5237 -0.0121 1227.68 -2.14 10.73 3.72 2.80 4.26 
  HFRX Relative Value Arbitrage Index -0.2968 -4.5033 1.5695 1213.15 1.65 10.65 -0.97 1.98 9.15