Table: Make a Better Bet

3-YR 2001 ANNUALIZED FUND/(SYMBOL) STRATEGY RETURN* RETURN*

RECESSION HEDGES

ARBITRAGE FUND** Merger Arb. 6.4% NA% BOSTON PARTNERS LONG-SHORTEQUITY (BPLEX) Long-Short 21.6 17.9 GATEWAY FUND (GATEX) Covered Call -5.1 5.0 MERGER FUND (MERFX) Merger Arb. 1.4 12.9 NEEDHAM GROWTH (NEEGX) Long-Short 10.2 32.9 UAM ANALYTIC DEFENSIVE EQUITY (ANDEX) Covered Call -4.3 5.2

INFLATION HEDGES

FRANKLIN FLOATING RATE** Floating Loans -3.9 4.5 OPPENHEIMER REAL ASSET (QRAAX) Commodities -31.9 10.1 PIMCO REAL RETURN (PRRDX) TIIS 7.8 8.6 VANGUARD INFLATION-PROTECTED SECUR. TIIS 7.1 NA (VIPSX)

* 2001 and 3-year annualized returns include appreciation plus reinvest- ment of dividends as of Dec. 14, 2001

** These funds have no ticker symbols. Go to www.thearbfund.com or www.franklintempleton.com for more information.

Data: Morningstar Inc. and fund companies

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