For the main index, the nine S&P Hedge Fund Index strategies will be reset to 11.11% each. Within each strategy, the component funds will also be reset to equal weights.
For the Arbitrage, Event-Driven and Directional/Tactical sub-indices, the three component strategies that comprise each sub-index will be reset to 33.33% each. Within each strategy, the component funds will also be reset to equal weights.
About the Standard & Poor's Hedge Fund Index
The S&P Hedge Fund Index, introduced in May 2002 and launched in mid-November, is designed to be both investable and representative of the broad-based investment experience of the hedge fund marketplace. It comprises nine distinct hedge fund investment strategies grouped into three broad style categories-Arbitrage, Event-Driven and Directional/Tactical. There are 40 institutional quality managers that currently comprise the S&P Hedge Fund Index. In order to guarantee investability of the index, Standard & Poor's requires each of the constituent managers to set aside $100,000,000 in investment capacity for Index related assets. Its values are calculated and published daily by Standard & Poor's on its website. Index values are also available on Bloomberg tickers: SPHG (Main Index), SPHGARB (Arbitrage sub-index), SPHGEVT (Event-Driven sub-index), SPHGDIR (Directional/Tactical sub-index). More information about the structure, design and components of the S&P Hedge Fund Index can be found on www.standardandpoors.com.
About Standard & Poor's
Standard & Poor's is a leader in providing widely recognized credit opinions, financial data, analytical research and investment analysis to the global capital markets. With more than 5,000 employees located in 18 countries, Standard & Poor's is an integral part of the world's financial architecture. Additional information is available at www.standardandpoors.com.