The World of Ryan ALM Indexes
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Facts:  Ron Ryan, CFA was the former Director of Research at Lehman where he designed many of the popular bond indexes.  Since he left Lehman, Ron Ryan and his index team has designed many indexes as solutions to traditional bond index problems, including several innovations:

               1st Daily Bond Index
               1st Constant Maturity Index Series (Treasury Yield Curve)
               1st Constant Duration Index Series (Treasury STRIPS Yield Curve)
               1st Liability Index
               1st Social Responsible Corporate Bond Index Series (4 ESG Indexes)
               1st Treasury Maturity Ladder Index Series (4 PowerShares ETFs)


New Breed:   All of the Ryan Indexes are a new breed of bond indexes that correct traditional bond index problems, such as:

                Market Weighted   =  Don’t know amount outstanding due to stripping/ prepays
                Tracking Errors  =  Impossible to duplicate large bond indexes
                Large Portfolios  =  Creates pricing and liquidity problems

Ryan Indexes:   The current list of Ryan Indexes total 60 indexes to include:

                11   Treasury Yield Curve                                (Constant Maturities by Auction Issues)
                31   Treasury STRIPS Yield Curve                 (Constant Duration series from 1 to 30 years)
                  4   Treasury Maturity Ladder                        (PowerShares ETFs  for 1-5, 1-10, 1-20, 1-30 year)
                  9   Municipal Target Maturity                        (2025, 2030, 2035 series … Insured, NY, CA)
                  4   Social Responsible Maturity Bands      (ESG 1-3, 1-5, 1-10, 1-30 year)
                  1   FAS 158                                                        (Price Waterhouse Cooper yield curve index)