Dow Jones Indexes, a leading global index provider, today announced the Dow Jones Hedge Fund Convertible Arbitrage Strategy Benchmark hit a new high in August.
The final reconciled August 2006 month-end index close for the Dow Jones Hedge Fund Convertible Arbitrage Benchmark indicates that the strategy reached a new high with a closing value of 128.49. The previous month-end high of 126.94 was in April 2004.
Over the 28 months the Benchmark spent below its previous high, it hit a month-end low of 114.27 at the end of May 2005, resulting in a maximum decline of 9.98%. After that the strategy has posted consistent gains every month with the exception of fourth quarter of 2005.
Since its inception in January 2002, the Dow Jones Hedge Fund Convertible Arbitrage Strategy Benchmark has had a cumulative gain of 28.49% (5.52% annualized) through August 2006.
As of September 29, 2006, the estimated performance of the Benchmark is up 0.49% on a month-to-date basis and up 8.81% on a year-to-date basis.
Note: The month-end figures for the Dow Jones Hedge Fund Strategy Benchmarks are based on daily estimates net-of-fees. Final performance figures for September 2006 will be available towards the end of October 2006. The methodology used to calculate the Dow Jones Hedge Fund Strategy Benchmarks is available on www.djhedgefundindexes.com.
