Institutional Benchmarks Series

COMPANY OVERVIEW
WHAT'S NEW
INTRODUCTION
METHODOLOGY
INVESTMENT STRUCTURE
DUE DILIGENCE
MANAGEMENT
LYRA & DOW JONES
STRATEGIES
Convertible Arbitrage
Equity Market Neutral
Event Driven
Distressed Securities
Merger Arbitrage
Equity Long/Short
BALANCED PORTFOLIOS
WHITE PAPERS
LOGIN

LYRA & DOW JONES
ow Jones develops, maintains and licenses market indexes for use as benchmarks and as a reference for investment products. Pursuant to a licensing agreement entered into in October 2003, Dow Jones began to use Lyra's investment methodology and platform as the basis for its hedge fund indexes. Lyra manages the platform that provides the underlying return series for the Dow Jones Hedge Fund Strategy Benchmarks and the Dow Jones Hedge Fund Balanced Portfolio Indexes. The roles of Dow Jones and Lyra are outlined below:

DOW JONES & ADVISORY COMMITTEE'S ROLE:

Adopted Lyra’s methodology for existing hedge fund indexes; Provides guidelines for addition of new strategies to Lyra’s platform; Establishes index objectives for new strategies; and Publishes index level data and constituent list.

LYRA CAPITAL LLC 'S ROLE:

Manages the investment platform; Conducts manager due diligence; Negotiates transparency and other key terms with managers; Monitors managers' adherence to a style pure investment mandate; and Negotiates structured platforms on behalf of select clients.

DOW JONES ADVISORY COMMITTEE:

o ensure that the hedge fund indexes published by Dow Jones and the related Lyra products continue to be of institutional quality, the Advisory Committee is charged with reviewing and advising on the methodologies of the various Dow Jones hedge fund indexes, including in connection with the manager selection and removal process of the underlying platform. Advisory Committee Members include:

JOHN PRESTBO, Editor and Chairman, Dow Jones Indexes Oversight Committee, Dow Jones Indexes RIDGELY WALTERS, President, Dow Jones Hedge Fund Indexes, Inc. and Senior Director, Client Development and Sales, Dow Jones Indexes JEFF LOPEZ, Deputy Chief Executive Officer, CASAM Americas PHILIP HALPERN, Independent Member LAURENCE SIEGEL, Director of Policy Research, The Ford Foundation EDGAR SULLIVAN, Managing Director - Absolute Return Strategies, General Motors Asset Management





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