The MSCI DM World Index (Net/Local Currency) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets. The MSCI World Index consists of the following 23 developed market country indexes: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden,Switzerland, the United Kingdom, and the United States (as of 31 August 2017). The index takes re-investment of dividends into account.
Index returns are provided for comparison purposes only to show how the composite's returns compare to a broad-based index of equities.
The Bloomberg Barclays Capital U.S. Aggregate Bond Index is a broad-based index that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, MBS (agency fixed-rate and hybrid ARM pass-throughs), ABS and CMBS (agency and nonagency). Intra-month cash flows from interest and principal payments contribute to monthly index returns but are not reinvested at a short-term reinvestment rate between rebalance dates. At each rebalancing, cash is effectively reinvested into the Returns Universe for the following month so that index results over two or more months reflect monthly compounding.
Index returns are provided for comparison purposes only to show how the composite's returns compare to a broad-based index of bonds.
Hedge Fund Research, Inc. (HFR) utilizes a UCITSIII compliant
methodology to construct the HFRX Hedge Fund Indices. The methodology is
based on defined and predetermined rules and objective criteria to
select and rebalance components to maximize representation of the Hedge
Fund Universe. HFRX Indices utilize state-of-the-art quantitative
techniques and analysis; multi-level screening, cluster analysis,
Monte-Carlo simulations and optimization techniques ensure that each
Index is a pure representation of its corresponding investment focus, in this case Equity Hedge strategies.
Index returns are provided for comparison purposes only to show how the composite's returns compare to the overall long/short equity hedge fund industry.
The Credit Suisse Hedge Fund Index is compiled by Credit Suisse Hedge
Index LLC. It is an asset-weighted hedge fund index and includes only
funds, as opposed to separate accounts. The index uses the Credit Suisse
Hedge Fund Database, which tracks approximately 9,000 funds and
consists only of funds with a minimum of US$50 million under management,
a 12-month track record, and audited financial statements. The index is
calculated and rebalanced on a monthly basis, and reflects performance
net of all hedge fund component performance fees and expenses.
Index returns are provided for comparison purposes only to show how the composite's returns compare to the overall hedge fund industry.