The Markets March 11, 2008

Dow Jones Creates 130/30 Investment Strategy Indexes

Dow Jones Indexes and Transparent Value LLC have launched the Dow Jones Required Business Performance (RBP) Index series, with indexes that measure the likelihood that a company can deliver the performance required to support its current stock price.
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The likelihood that a company will deliver the performance required to support its current stock price is measured according to Transparent Value’s proprietary RBP methodology.

The Dow Jones RBP Large-Cap 130/30 Indexes, the first indexes in the series, use the RBP probability metrics to create 130/30 investment strategy indexes based on U.S. large-cap stocks, according to the announcement.

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The index universe for the Dow Jones RBP Large-Cap 130/30 Indexes includes all stocks in the Dow Jones Wilshire U.S. Large-Cap Index. RBP probability scores are calculated by Transparent Value for each of the 750 companies in the Dow Jones Wilshire U.S. Large-Cap Index. The 30 stocks with the highest RBP probability scores become components of the Dow Jones RBP Large-Cap Leading 30 Index, and the 30 stocks with the lowest RBP probability scores become components in the Dow Jones RBP Large-Cap Lagging 30 Index. Components for the Dow Jones RBP Large-Cap Leading and Lagging 30 indexes are subject to a screen that requires components to have a three-month average daily trading volume of at least $2.5 million.

The Dow Jones RBP Large-Cap 130/30 Index measures the performance of the 750 stocks in the Dow Jones Wilshire U.S. Large-Cap Index as well as an additional 30% long position in the Dow Jones RBP Large-Cap Leading 30 Index and 30% inverse exposure to the Dow Jones RBP Large-Cap Lagging 30 Index, the announcement explained. The Indexes are rebalanced on a quarterly basis.

The Dow Jones RBP Large-Cap Growth 130/30 Index and Dow Jones RBP Large-Cap Value130/30 Index are also available and follow the same methodology as the broader index. They are derived from the Dow Jones Wilshire U.S. Large-Cap Growth Index and Dow Jones Wilshire U.S. Large-Cap Value Index, respectively.

More information can be found at www.dowjonesRBP.com.

Deals & People March 11, 2008

American Century Announces New Head of Institutional Business

American Century Investments announced Joseph P. Craven has joined the firm as senior vice president of its institutional business.
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Craven joins American Century Investments from Aquiline Investments, a private equity firm where he was a principal, according to the company.

From 2002 to 2004, Craven served as director of Institutional Retirement Services at Putnam Investments, where he managed the institutional full service defined contribution business. From 1996 to the end of 2001, he served as Putnam’s director of Consultant Relations and Institutional Product Management.

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Prior to his time at Putnam, Craven joined the Office of the Massachusetts State Treasurer as general counsel. Later he served as deputy treasurer of the Pension Investment Division, responsible for oversight of pension plans with assets in excess of $8 billion. He also practiced public finance and commercial finance law in Massachusetts, New Jersey and New York, where he worked as an investment banker.

“American Century Investments has been working diligently to bring institutional rigor to an already strong investment management capability,” said Brian Jeter, American Century Investments’ chief sales and distribution officer, in an announcement. “Those efforts, combined with the addition of Joe Craven to a very solid and experienced team, underscore our commitment to expanding our footprint in the institutional marketplace.’

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