Information on the sub-indices

CHF Bonds
The formerly used SBI Total index has been replaced by the SBI Total AAA-BBB from 31 December 2007 onward. The SWX Swiss Bond Index AAA-BBB (SBI®) is calculated by SWX Swiss Exchange. It reflects developments in the CHF bond markets and hence in the field of interest rates. The universe of securities comprises all bonds issued in CHF (domestic and foreign borrowers) which are listed on the SWX Swiss Exchange and whose "composite rating" (blend of ratings from S&P, Moody's and Fitch and 4 major Swiss banks) is not lower than BBB.

SWX Swiss Exchange

World Bonds
The Lehman Multiverse Index consists of the Global Aggregate Index combined with High Yield Bonds and Emerging Markets Bonds. It includes government bonds as well as corporate bonds. The Lehman Multiverse Index reflects the broadest coverage of the world bonds market. The currency risk of all index positions is hedged in CHF.

Equities Switzerland
The Swiss Performance Index (SPI) contains about 230 Swiss securities, where the stock and sector weightings corresponds to the stock market capitalisation. It is free float adjusted for equities with a free float above 20%. Small caps are also included in the index.

Equities World
The formerly used Custom MSCI ACWI + World Small Cap Index has been replaced by the MSCI AC WORLD IMI CHF from 30 November 2007 onward. The MSCI AC WORLD IMI CHF is calculated by Morgan Stanley Capital International Barra. This is a cap-weighted index that includes large, mid and small caps equities from both developed and emerging markets.

Real Estate Switzerland
Because of the lack of a broad acceptance of real estate equities in Switzerland we are using the SWX Immofonds Index. It includes all listed Swiss real estate funds. Their weighting in the index correspond to their market capitalisation.

Real Estate World
The FTSE EPRA Global NAREIT index consists of equities of real estate companies and REITs (Real Estate Investement Trusts). The weightings are based on the market capitalisations and the index is free float adjusted.

Hedge Funds
The FTSE Hedge Global CHF is an investable hedge fund index. The hedge funds included in this index are based on managed accounts platform. The index consists of 40 open hedge funds and can be replicated without tracking error. The index is hedged in CHF.

Private Equity
The LPX 50 Index is a daily replicable index. It reflects the 50 biggest Private Equity companies, which represent 80% of the worldwide listed private equtiy universum.