Pro forma historical performance data for the period before July 15, 2003, relies on significant assumptions, and is provided for illustration purposes only. As with all historical performance data, it may not be used to predict future characteristics or performance of the index or relied on in making any investment decisions. For a more detailed description of how this simulated data was calculated and its limitations, click here.
 Index Fact Sheet

A factsheet containing further details of the MSCI Hedge Invest Indices can be found here.


MSCI Hedge Invest Indices -- as of January 20, 2009
Index Official Weekly Index Level (USD)* Daily Indicative Index Level (USD) Daily Week to
Date**		 Month to Date YTD Since Inception***
MSCI Hedge Invest Index 9415.89 9415.89 -0.19% -0.18% 0.69% 0.69% -5.84%
Equity Non-Directional 10740.28 10740.28 -1.25% -1.04% -0.31% -0.31% 7.40%
Convertible Arbitrage 6652.30 6652.30 -2.17% -2.45% -3.44% -3.44% -33.48%
Event Driven 11205.74 11205.74 -1.42% -0.76% 0.43% 0.43% 12.06%
Systematic Trading 12495.22 12495.22 0.55% 0.44% 0.71% 0.71% 24.95%
Discretionary Trading 10288.44 10288.44 -0.08% 0.09% 0.91% 0.91% 2.88%
Long Bias 9290.56 9290.56 0.05% -0.09% 0.28% 0.28% -7.09%
Variable Bias 11087.40 11087.40 0.19% 0.34% -0.54% -0.54% 10.87%
Fixed Income 6727.62 6727.62 0.56% 0.24% 2.91% 2.91% -32.72%

Daily index levels do not reflect traded prices of the underlying funds. Daily index levels are calculated using estimated daily constituent fund net asset values as reported to MSCI, and should be considered indicative only. Official weekly index levels are based on actual traded or offered constituent fund net asset values as reported to MSCI. Index values will not be restated.

* Official Weekly Index Level is as of January 20, 2009
** WTD Performance reflects performance since last official weekly index publication
*** Since inception performance reflects the period from July 15, 2003 to date, except for the following indices: Fixed Income (January 4, 2005), Discretionary Trading (January 6, 2004), Variable Bias (July 6, 2004).

The MSCI Hedge Invest Indices are constructed according to the MSCI Investable Hedge Fund Index Methodology. This methodology has been applied to a range of managed accounts owned by Lyxor Asset Management, a subsidiary of Société Générale Group.



MSCI Hedge Invest Index
Strategy Weights, funds in Total as of January 20, 2009