A mechanism is provided for managing a high speed memory. An index entry indicates a storage unit in the high speed memory. A corresponding non-free index is set for a different type of low speed memory. The indicated storage unit in the high speed memory is assigned to a corresponding low speed memory by including the index entry in the non-free index. The storage unit in the high speed memory is recovered by demoting the index entry from the non-free index. The mechanism acquires a margin performance loss corresponding to a respective non-free index in response to receipt of a demotion request. The mechanism compares the margin performance losses of the respective non-free indexes and selecting a non-free index whose margin performance loss satisfies a demotion condition as a demotion index and selects an index entry from the demotion index to perform the demotion operation.