1. EPFR Global 1 Equity/Bond Fund Country Flows Method of Calculation

2. EPFR Global 2 Equity/Bond Fund Country Flows (New) ………………………………………………………………………………………………. Our Country Flows combine our Fund Flow and Country Weightings data to track the flow of money into world stock markets. Our fund flow reports track the amount of cash flowing into and out of the thousands of investment funds we monitor world-wide. Our country weightings report tracks fund manager allocations at month-end across the various markets they invest in. Data sourced directly from managers or administrators Value-added datasets Fund Flows Fund Allocations Country/Sector/ Industry Flows By combining these two data sets, we are able to estimate the flow of cash into and out of various stock markets.

3. EPFR Global 3 Example : Fund Flows ……………………………..……………….. The Fund flow amounts for the week chosen are indicated in the Flow US$ column China is included in the investment mandates of the fund asset classes that we track China is included in the investment mandates of the fund asset classes that we track

4. EPFR Global 4 Fund Category Manager Simple Avg Allocation % Global Emerging Markets15.1863 Asia ex-Japan Regional24.8013 Pacific Regional8.2625 Global ex-US3.1472 Global2.1478 BRIC34.6900 Greater China56.8500 China100.0000 At each month-end, we use the average manager weighting (for example to China) for each of the fund groups that can invest in China (for China dedicated funds we assume a 100% allocation to China). Example: Fund Weightings ………………………………………………..…………... *Assumption: manager weightings from month to month do not vary significantly for the entire population of funds (individual manager weightings can certainly vary quite a bit from month to month, but all funds taken together do not show extreme changes).

5. EPFR Global 5 Example: Country Flows ………………………………………………..………. To calculate China Country Flow, we multiply these China Fund Weightings by each fund groups net Fund Flows for the period. The resulting China Country Flow is an estimate of how much new investor money will be put to work in China. DateAsset Class Weekly Flow US$mill (a) Latest available avg Weighting % (b) Estimated Country Flows US$mill (a) x (b) 6/10/2009Asia ex-Japan Regional803.4824.8013%199.27 6/10/2009BRIC Funds215.5534.6900%74.77 6/10/2009China Funds404.89100.0000%404.89 6/10/2009Global Emerging Market Funds1,123.1515.1863%170.56 6/10/2009Global ex-US Funds146.623.1472%4.61 6/10/2009Global Funds454.092.1478%9.75 6/10/2009Greater China Funds122.756.8500%69.75 6/10/2009Pacific Regional Funds81.798.2625%6.76 Total Estimated Flows into China Stocks 940.38

6. EPFR Global 6 Equity Fund Country Flows (Standard Report) ……………………………..………………………………………………………………... Total Estimated allocation of money in absolute dollar terms at the beginning of period Total Estimated allocation of money in absolute dollar terms at the beginning of period Total Estimated allocation of money in absolute dollar terms at the end of period Total Estimated allocation of money in absolute dollar terms at the end of period Flow of money into/out of world stock markets in absolute dollar terms Flow of money into/out of world stock markets in absolute dollar terms Flow of money into/out of world stock markets in percentage terms Flow of money into/out of world stock markets in percentage terms

7. EPFR Global 7 Sample reports and pricing information are available at http://www.epfr.com/feedback.aspx or please feel free to contact us By Email: marketing@epfr.com By Phone: 1-617-864-4999 Or, visit EPFR website at http://www.epfr.com