ENHANCED INDEXING

• Grew assets from $4.3B in 2001 to about $60B at December 31, 2004

• Offers strategy for European investors who want equity participation with low risk

Passive

Active Risk

Active

Return

Enhanced

Quantitative Active

Fundamental

Active

Alternatives

Private Equity

Long

-

Short Equity

Leveraged Real Estate

Hedge Funds

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