Pensions & Investments, March 22, 2010. Acadian's new mandate to manage a low-volatility portfolio for a Japanese client is cited in "Japanese investors could push minimum volatility into limelight"

Dow Jones Newswire, February 23, 2010. John Chisholm commented on the likely direction of markets over the next three to six months in light of economic recovery.

Pensions & Investments, February 22, 2010. In "Face to Face" Acadian's Director of Marketing Churchill Franklin discussed the prospects for quantitative investment firms.

In the Jan. 8, 2010 issue of MarketWatch, John Chisholm commented on economic prospects in the article "US Stocks Fall As December Jobs Report, Rating Downgrades Weigh."

Pensions & Investments, January 11, 2010. In "Quants have struggled, not failed" Terry Burnham upholds the ongoing rationale for a quantitative approach to investing.

New York Times, January 10, 2010, "How to Gauge the Rush to Emerging Markets." Acadian CIO John Chisholm provided an assessment on the overall attractiveness of the asset class following the strong returns of 2009.

Foundation and Endowment Money Management, January 2010. Acadian's John Peta was quoted on the potential for non-profits from investing in emerging markets debt.

Dow Jones Newswire, November 5, 2009, "Acadian Looks At Transaction Cost Of Doing Business." This article profiled Acadian's new initiatives in the area of transaction cost modeling and dynamic portfolio allocations.

Dow Jones Newswire, October 20, 2009, "Emerging-Market Investors Bank More On China's Middle Class." Constantine Papageorgiou discussed China's demographic trends.

Dow Jones Newswire, October 5, 2009, "Despite Lagging In '09, Local EM Debt Still Offers More Value." Acadian's Bryan Carter commented on the outlook for the emerging market fixed income asset class.

Kiplinger.com, July 21, 2009. Acadian was cited in the article "5 Top Emerging-Markets Funds."

MSN Money, June 23, 2009. In "Go global to grow your portfolio," Constantine Papageorgiou discussed reasons to expect superior economic growth in emerging markets. "Number one, these countries are running surpluses rather than deficits," he noted. "Secondly, we've seen the emergence of sizable and strong consumer classes that could carry these emerging markets through recent turbulence. Third, you have positive exposure to commodities and energy prices."

Wall Street Journal, June 17, 2009. In "Local-Currency Emerging Market Bonds Still Gaining Weight," Acadian's John Peta discussed the merits of local currency approaches to emerging markets debt.

Wall Street Journal, May 26, 2009. "One Key Number in Pricing a Deal: The 52-Week High" featured the work of Acadian consultants Malcolm Baker and Jeff Wurgler on the unexpectedly powerful psychological role of the 52-week high share price in the pricing and successful completion of merger deals.

Pensions & Investments, May 25, 2009. In "Talking investment strategies, not barbeque," Churchill Franklin discussed the merits of low-volatility investment strategies.

Dow Jones Newswires, May 13, 2009. The head of Acadian's emerging markets debt team John Peta cited some attractive opportunities in "Emerging-Market Local-Currency Debt Shines, For Now."

Wealth Bulletin, April 27, 2009. Acadian was mentioned as a manager who offers a frontier markets fund in the article "Asset managers boldly go to new frontiers."

Dow Jones Newswires, March 26, 2009. "Global Crisis Doesn't Spare Less Integrated Frontier Markets." Constantine Papageorgiou, manager of Acadian's frontier markets strategy, made the case for the long-term attractiveness of the frontier markets despite the recent downturn.

Global Money Management, January 13, 2009. "Acadian Snatches SGAM European Chief" provides coverage of Acadian's hire of Kelly Young, former European head of index fund management at SGAM Alternative Investments, as a relationship manager in our London office.

Dow Jones Newswires, January 8, 2009. In "Developed World Borrowers to Elbow Out Emerging Markets" Acadian's Emerging Market Debt portfolio manager John Peta commented on the current outlook for this asset class.

IMWeekly, December 8, 2008. "Acadian Explores New Frontier" profiles Acadian's frontier markets strategy.

Wall Street Journal, November 21, 2008. John Chisholm was quoted in the Small-Stock Focus column, noting, "Though in the long run, companies with high hedge-fund ownership have outperformed, in this environment, they are especially susceptible to selling pressure."

Pensions & Investments, November 3, 2008. "Low volatility, high return strategies get a look; Market chaos opens window for contrarian approach." In this article on low volatility strategies, Churchill Franklin comments, "Low-volatility strategies have been gaining traction this year among sophisticated investors, with interest especially strong among European and Japanese clients."

Wall Street Journal, November 1, 2008. In "Stocks Look Cheap World-Wide --- Valuations Are Now at a Level That Appears Equivalent to the 1970s," Acadian's Ron Frashure discussed the overall attractiveness of emerging markets given their recent sharp declines.

Wall Street Journal, October 27, 2008. In the article "Stocks, After the Battering, Appear Cheap by Some Measures" Constantine Papageorgiou spoke about prospects for emerging markets. He stressed that even if earnings fall in the near term, the trends that have driven emerging markets in recent years -- exports, urbanization, growing consumer economies -- will ultimately lead to long-term growth. Buying emerging-market stocks now "is for investors who . . . are in for the long haul," Constantine was quoted.

Dow Jones Chinese Financial Wire, October 17, 2008, "China Best Positioned Among BRICs To Weather Global Storm." This article quoted Charles Wang on the outlook for China.

Wall Street Journal, October 1, 2008. John Chisholm was quoted in "Quarterly Markets Review: Global Markets Show Cracks, May Not Mend Soon." He noted that, "On balance, emerging markets no longer look overpriced relative to developed markets."

Financial Times Mandate, October 1, 2008. Brendan Bradley authored a piece entitled "Give low-volatility a chance," in which he discusses the opportunities currently offered by low-volatility strategies.

Financial Week, September 29, 2008, "House gives Wall Street one-fingered salute, crushing stocks, T-bill yields." In this article Terry Burnham said, "Things develop, and fall apart, so quickly in these markets, that there are few parties investors have confidence in. Yet, ironically perhaps, when it comes to where they want to put their money right now, the entity that people can trust the most is the U.S. government."

Financial Times, September 14, 2008. "‘Magic formula' defies all the rules" explored minimum variance strategies and quoted Churchill Franklin on the recent uptick of interest in this investment approach. Churchill noted that the market correction has made sophisticated investors think about risk as well as return.

Financial Times, September 7, 2008, "Pre-emerging economies grow increasingly attractive." "We are seeing increased interest from the institutional and consultant communities, as they have become more aware of this asset class and its attractions," says Constantine Papageorgiou, portfolio manager at Acadian Asset Management.

Pensions & Investments, September 1, 2008, "Institutions wading into frontier markets." Constantine Papageorgiou, portfolio manager for Acadian's frontier strategy, noted that "We believe that frontier is worth a look for a diversified portfolio. If you look at the longer term return for risk metrics, frontier markets significantly outweigh that of emerging markets over the last 10 years."

Pensions & Investment Daily, August 12, 2008, noted the hire of Ted Noon and Marlena Bonasera to Acadian's marketing and client service team.

Pensions & Investments, July 21, 2008. John Chisholm was quoted in "Shorting ban won't hurt too much, say money managers."

Wealth Bulletin, July 21, 2008. In "Hunger for excess returns drives systems development" Acadian's Qi Zeng provided views on quantitative tools for collecting, organizing and analyzing market data.

Pensions & Investments, July 7, 2008. In "Olympic Glow Already Fading," Acadian's John Chisholm was quoted on China: "The Olympics have provided a mild boost historically in terms of stock prices, and China was no exception. But then things fall after the event and you get a subsequent letdown."

Financial Week, June 2, 2008, In "The Smart Money" Acadian consultants Malcolm Baker and Jeff Wurgler were profiled for their pioneering work on sentiment beta, "a measure of the sensitivity of a stock to investor sentiment that is particularly relevant in today's topsy-turvy markets."

FundFire, May 28, 2008, "Does 130/30 Work in International Markets?" Acadian's Jim Wylie discussed this question, noting that "recent research has shown that long-short implementations that relax the long-only constraint can provide significant increases in value-added at a given level of investor skill."

Toronto Globe and Mail, May 22, 2008, "Hedge fund crowd picks up the slack for beaten-down pension managers." The article noted that "Boston-based Acadian Asset Management rode an expertise in long-short hedge fund strategies and a global outlook to a 47.4-per-cent increase in assets, cracking the top 40 for the first time with $4.6-billion of Canadian pension funds."

MoneyManagement.com, May 19, 2008, "A stellar year for Acadian." This Australian publication noted that Acadian's Australian Equity Long Short strategy achieved the winner's circle of the Hedge Funds (Long Short Australia Equities) category of this year's awards.

Pensions & Investments, May 12, 2008, "Cutting Edge Academics." Acadian consultants Malcolm Baker and Jeffrey Wurgler were featured in this piece on the intersection of academia and finance. The article noted the team's pioneering work on "sentiment beta," a measure of the sensitivity of stocks to investor sentiment.

Pensions & Investments, May 12, 2008, "Quants still have place -- even in volatile markets." Acadian President Ron Frashure penned this opinion piece which notes in part: "Typically, the debate is framed in the context of managers that use a quantitatively based process vs. managers that use a traditional fundamental process. In my view, this is an artificial divide that tends to obscure the important point of what constitutes excellence in an investment management approach regardless of the label pinned on it."

Institutional Investor, April 15, 2008, "Doubt of Africa -- The Buy Side - The Key In The Lock?" Acadian's head of emerging markets debt John Peta was quoted as saying "This is a business where investors like to invest where others have gone before." He noted emerging-markets debt remains a relatively underutilized option for many institutional investors.

Financial Times, April 6, 2008, "How to play safe before the Next Big Thing." Discussing low-volatility strategies, Acadian CIO John Chisholm commented, "They're not meant to match liabilities but, to the extent that equities have a place in LDI portfolios, low-volatility strategies should be a great substitute for conventional index funds."

Dow Jones Newswire, March 28, 2008, "Acadian Off Beaten Path In Emerging-Market Debt." John Peta noted, "There's a lot of interest in the asset class. Credit quality continues to improve." He added that emerging countries also have shown resilience amid a credit-market deterioration in the U.S.

Wall Street Journal, March 31, 2008, "U.S. Stocks Are Doing Better Than Most." Ron Frashure was quoted in this article and noted that several markets "seem to have gotten quite a bit ahead of themselves, like China and India."

CNBC, March 11, 2008, "Emerging From Emerging Markets." In this interview Acadian CIO John Chisholm said that he thinks it may be time for investors to emerge from some of the more popular emerging markets. "We've become a lot more cautious on emerging markets in the last year," he told CNBC. We still think there are good investments in the emerging markets, but we don't expect nearly to see the same kind of return for the next five years that we've seen for the past five years."

Money Management Letter, March 12, 2008, "Analytic Investors Backs Long/Short." Raymond Mui, senior vice president at Acadian, noted in this article that going short allows managers to realize returns from their negative views on securities and as a result deliver more consistent performance than long-only portfolios.

New York Times, February 24, 2008, "A Sign of Hope for Stocks." This article focused on research suggesting that in past periods when stocks were overvalued, companies greatly preferred equity over debt and vice versa. The reporter interviewed Acadian consultants Malcolm Baker and Jeff Wurgler (finance professors at Harvard Business School and New York University respectively).

Barron's, January 28, 2008, "The Great Submergence." John Chisholm provided a cautious outlook for the emerging markets over the next three to six months, particularly for larger, highly extended markets such as China and India.

Wall Street Journal, December 16, 2007, "How to Beat the Next Bubble." Terry Burnham commented on crowd-following behavior and its impact on investments.

Business Week, December 10, 2007, "High Returns -- and Low Volatility?" Charles Wang discussed the investment potential of African stock markets, noting "This kind of growth and diversification are a free lunch."

Wall Street Journal, November 21, 2007, "A Nervous Investor's Guide to Overcoming Market Jitters." Terry Burnham discussed the biological basis for market risk aversion. "We're built to do exactly the wrong thing," he commented.

Journal of Indexes, October 1, 2007, "MSCI Considers a New Frontier." Acadian's Constantine Papageorgiou discussed frontier markets and commented, "As…emerging markets have matured, as they have received more and more foreign investor interest, the correlations between emerging and developed markets have increased over time. Although they do provide some diversification for portfolios, they're certainly not the great diversifiers they were 15 years ago or so." He also noted, "It's entirely possible that there are certain anomalies or inefficiencies that may exist in the frontier markets that have been traded away in the developed or emerging markets over time."

Investment News, September 10, 2007, "Investing in Africa: Is now the time to jump In?" John Peta commented, "We're now buying sovereign bonds from Egypt, Nigeria, Ghana and Uganda…Many have only become available in the last year and a half."

Pensions & Investments Online, September 6, 2007, "Web Extra: Changes Ahead."

FundFire, August 30, 2007, "Emerging Markets Surge May Force Rebalancing." Churchill Franklin spoke about the emerging and frontier markets and the widespread closure of the best-performing funds and strategies.

Dow Jones Newswires, August 20, 2007, "UPDATE: Emerging Mkt Assets Trade Sideways As Jitters Remain." "It is rarely a good decision to react to sudden events due to fear," said Acadian's Charles Wang.

Pensions & Investments, August 20, 2007, "Alaska Permanent Fund."

Investment Management Weekly, August 20, 2007, "Alaska Perm. Fund Hires New Managers."

Anchorage Daily News, August 17, 2007, "Inside Alaska Business."

Money Management Letter, August 13, 2007, "Acadian Launches Domestic All-Cap 130/30." (PDF)

Christian Science Monitor, August 13, 2007, "Could red-hot foreign markets burn out?" John Chisholm noted that market returns from abroad still look relatively favorable, if not as stellar as in recent years. From a returns perspective, Mr. Chisholm commented, "there still is a reason to stay invested" overseas.

Barrons, July 30, 2007, "Is the Bloom off Emerging Markets?"

Wall Street Journal, July 30, 2007, "Stock Declines Spur New Look At Risk Picture --- With Returns Thinning, Emerging Markets No Longer as Attractive." Ron Frashure noted that the broad-based rally in global stocks of the past few years "largely leveled the playing field…Table-thumping opportunities elude our vision."

Institutional Investor, July 11, 2007, "MONEY MANAGEMENT - Who Says It Doesn't Grow on Trees?"

Wall St. Journal, July 11, 2007, "Why Your Paycheck Is Really a Bond."

Dow Jones Business News, July 10, 2007, "DUE DILIGENCE: CORRECT: Old Mutual Targets New Funds As U.S. Expansion Mounts."

LiveMint.com, July 5, 2007, "US portfolio managers lukewarm about India." "India is one of the most expensive emerging markets," said Charles Wang. "You need breadth and depth to make it more stable. The India market is quite a risky market in our view."

Pensions & Investments, June 25, 2007, "Profiles of the top 50 international/global managers."

Insurance Asset Manager, June 2007, "The Risk-Return Advantages of Low-Volatility Equity Portfolios."(PDF)

Europe

Novecon Information Agency, August 21, 2007, "ACADIAN Becomes Major MTS Minority Shareholder."

AFX News, August 21, 2007, "Moscow shares TFN at a glance outlook."

Australia/New Zealand

Australian Associated Press, July 23, 2007, "Media Release: Colonial First State."