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Industry Updates

RBC Hedge 250 Index returned +1.02% in November, 18.48% YTD

Tuesday, December 15, 2009
Opalesque Industry Updates - RBC Capital Markets today reported that for the month of November 2009 the RBC Hedge 250 Index had a net return of 1.02 per cent. This brings the year-to-date return of the Index to 18.48 per cent. These returns are estimated and will be finalized by the middle of next month. The return for October 2009 has been finalized at -0.18 per cent.

The RBC Hedge 250 Index is an investable benchmark of the performance of the hedge fund industry. The Index operates in accordance with a unique construction methodology. Comprised of approximately 250 actual hedge funds, the RBC Hedge 250 Index is positioned as the industry's most diversified and representative investable index. The Universe on which the Index is based currently consists of 5,131 hedge funds (excludes funds of hedge funds) with aggregate assets under management of $946 billion.

Since its inception on July 1, 2005 through the end of October 2009, the RBC Hedge 250 Index has had an annualized net return of 3.73 per cent. In comparison, over the same period, other investable indices have averaged -0.29 per cent while non-investable indices have averaged 5.59 per cent, according to information reported by the sponsors of those indices.


Index Level Nov-09 Oct-09 YTD ITD
RBC Hedge 250 118.41 1.02% -0.18% 18.48% 18.41%
Relative Value



Convertible Arbitrage -0.96% 3.60% 64.25% 19.60%
Equity Market Neutral -1.21% -0.39% 0.31% 9.00%
Fixed Income Arbitrage 1.29% 2.79% 22.11% 9.83%
Tactical



Equity Long/Short 0.90% -1.56% 22.53% 43.31%
Macro 0.57% 0.31% 6.66% 13.26%
Managed Futures 3.50% -1.33% 5.92% 64.51%
Event-Driven



Credit 1.39% 1.69% 21.72% 0.07%
Mergers & Special Situations 1.54% -0.17% 28.26% 25.75%
Multi-Strategy



Multi-Strategy 0.62% 0.58% 13.80% -0.97%
Table contains estimated returns, except for the October returns, which are final. Inception date is July 1, 2005. Index Level at inception was 100.00.

For more information about the RBC Hedge 250 Index, including historical performance information, please visit www.rbchedge250.com.

- FG

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