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S&P Hedge Fund Index
Desc Level Daily MTD QTD YTD ITD1,2,3
S&P Hedge Fund Index5   0.00% 0.00% 0.00% 0.00% 27.91%
S&P Arbitrage Index5   0.00% 0.00% 0.00% 0.00% 12.11%
S&P Directional/Tactical Index5   0.00% 0.00% 0.00% 0.00% 30.14%
S&P Equity Long/Short Index4 1,153.551 0.00% 0.00% 0.00% 0.00% 15.36%
S&P ELSI - Global Ex-US4 1,174.760 0.00% 0.00% 0.00% 0.00% 17.24%
S&P ELSI - US4 1,128.365 0.00% 0.00% 0.00% 0.00% 13.06%
S&P Event-Driven Index5   0.00% 0.00% 0.00% 0.00% 42.51%
S&P Managed Futures Index 1,188.802 (0.25%) 1.72% 7.19% 7.08% 18.88%
1 = Inception (09/30/02) to Date for S&P HFI and three sub-indices.   
2 = Inception (12/31/02) to Date for S&P MFI.   
3 = Inception (03/31/04) to Date for S&P ELSI and sub-indices.   
4 = As of 4/1/06 S&P ELSI and its sub-indices indicative series are priced on a weekly basis.   
Please note: Effective July 1, 2006 Standard & Poor's suspended calculation and publication of the composite S&P HFI and its three sub-indices, as well as the net value and currency hedged versions of these indices. Standard & Poor's continues to make historical S&P HFI values available on its website.