Indices continue to drop this week

HFRX Hedge Fund Indices Performance 4 May-11 May

HFRX Global Hedge Fund Index          -0.51%
HFRX Convertible Arbitrage Index        -0.74%
HFRX Distressed Securities Index       -0.31%
HFRX Equity Hedge Index                   -0.59%
HFRX Equity Market Neutral Index        0.17%
HFRX Event Driven Index                     -0.80%
HFRX Macro Index                              -0.72%
HFRX Merger Arbitrage Index               -0.56%
Relative Value Arbitrage Index              -0.09%

Background Note: The HFRX Indices provide investors with accurate reference for true Hedge Fund single Strategy performance on a daily basis. HFRX Hedge Fund Indices are designed to be representative of the overall hedge fund universe and its major component strategies. Construction of the Global Hedge Fund Index and each HFRX Strategy Index employs state-of-the-art quantitative techniques and qualitative analysis. HFRX Indices are calculated and owned by Hedge Fund Research, Inc. using its proprietary methodology.