Definitions

Consumer Price Index (CPI): Consumer Price Index measures the price of a fixed basket of market goods bought by a typical consumer Euro Stoxx 50: An index of 50 stocks from 12 Eurozone countries (Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain) designed to measure the performance of developed Europes supersector leaders. Global Macro: Based on forecasts and analysis about interest rates trends, movements in the general flow of funds, political changes, government policies, intergovernment relations, and other broad systemic factors. HFRI Macro Index: Macro strategy managers which trade a broad range of strategies in which the investment process is predicated on movements in underlying economic variables and the impact these have on equity, fixed income, hard currency and commodity markets. Managers employ a variety of techniques,both discretionary and systematic analysis, combinations of top down and bottom up theses, quantitative and fundamental approaches and long and short term holding periods. Although some strategies employ relative value techniques, Macro strategies are distinct from relative value strategies in that the primary investment thesis is predicated on predicted or future movements in the underlying instruments, rather than realization of a valuation discrepancy between securities. In a similar way, while both Macro and equity hedge managers may hold equity securities, the overriding investment thesis is predicated on the impact movements in underlying macroeconomic variables may have on security prices, as opposed to equity hedge, in which the fundamental characteristics on the company are the most significant and integral to investment thesis. iShares MSCI Emerging Markets Index Fund (EEM): A fund that corresponds to the MSCI Emerging Market Index, a market capitalization index that measures equity market performance in the global emerging markets. MSCI China: The MS CI China Index is a market capitalization index designed to measure equity market performance in China. MSCI Europe Growth: A capitalization index designed to measure performance of the growth segment in developed equity markets in Europe. MSCI Europe Value: A capitalization index designed to measure performance of the value segment in developed equity markets in Europe. S&P 500 Index: The Standard and Poors 500 Index (S&P 500) is a broad based index, the performance of which is based on the performance of 500 widely-held common stocks chosen for market size, liquidity and industry group representation. S&P 500 Retail Index: An aggregate of companies in two S&P 500 Industry Group Indices Retailing and Food & Drug Retail. The S&P 500 Retail Index is comprised of all basic companies of the two retail-oriented indices. Shanghai 50 (SSE 50): The SSE 50 is an index consisting of the 50 largest stocks of good liquidity listed on the Shanghai Stock Exchange.