HSBC Hedge Weekly N22

Hedge Weekly N22
Investment Funds Performance Review
HSBC Alternative Investment Group

Week of Monday 23 May to Friday 27 May 2016
Alternative Investment Products are:

NOT A DEPOSIT OR
OTHER OBLIGATION
OF THE BANK OR
ANY OF ITS
AFFILIATES
NOT FDIC INSURED
NOT INSURED BY
ANY FEDERAL
GOVERNMENT
AGENCY OF THE
UNITED STATES
NOT GUARANTEED
SUBJECT TO
BY THE BANK OR ANY INVESTMENT RISK,
OF ITS AFFILIATES
INCLUDING POSSIBLE
LOSS OF PRINCIPAL
INVESTED
Index by Strategies
Index by Funds
Top/Bottom 20
Newsletter
12
About This Document
60
Past performance is not a reliable indicator of future performance.
Convertible Arbitrage
Convertible
12
Credit Long/Short
Credit
Fixed Income
13
18
20
Equity Long/Short
Equity-Commodity
Equity-Diversified
Equity-Energy
Equity-Financial
Equity-Healthcare
Equity-Mid-Small Cap
Equity-Pharma-Biotech
Equity-Technology
Equity-Utility
21
21
30
30
31
31
32
32
32
Event Driven
Equity-Diversified
Merger-Arbitrage
Multi-Strategy
Currency
Systematic
46
49
Market Neutral
Discretionary
Diversified
Equity Diversified
Multi-Strategy
Statistical Arbitrage
Systematic
50
51
51
52
52
52
Merger Arbitrage
Merger-Arbitrage
54
Multi-Strategy
33
33
33
Fixed Income Arbitrage

Fixed Income
40
40
40
41
44
45
Managed Futures
Distressed
Distressed Security
Commodity
Commodity-Systematic
Currency
Diversified
Fixed Income
Systematic
36
Credit
Diversified
55
55
Volatility Arbitrage
Arbitrage
59
Fund of Funds
Arbitrage
Event Driven
Macro
Multi-Strategy
Trading
37
37
37
38
38
Long Only
Equity-Diversified
39
Macro
Source - HSBC
4
400 CAPITAL CREDIT OPPORTUNITI
18
ANAVON MASTER FUND LTD CLASS -
25
BLACKROCK EUROPEAN DIVERSIFIED
51
CANYON BALANCED FUND LTD
55
ANDALUSIAN CORPORATE OPPORTUNI
34
BLACKROCK FIXED INCOME GLOBAL
36
CANYON VALUE REALIZATION FD, L
19
ANDURAND COMMODITIES FUND
40
BLACKROCK OBSIDIAN FUND
36
CAPEVIEW AZRI 2X FUND
23
ANTARES EUROPEAN FUND, LTD - U
22
BLACKROCK PAN ASIA OPPORTUNITI
51
CAPEVIEW AZRI FUND
23
APERIOS EMERGING CONNECTIVITY
22
BLACKROCK UK EQUITY HEDGE FUND
28
CAPEVIEW RECOVERY FUND
14
14
AQUILUS INFLECTION FUND LTD E
23
BLUEBAY CREDIT ALPHA LONG SHOR
15
CAPITAL FOUR CREDIT OPPORTUNIT
A.R.T. INTERNATIONAL INVESTOR
52
ARCTIC BLUE
40
BLUEBAY EMERGING MARKET CORPOR 13
CAPULA GLOBAL RELATIVE VALUE F
36
AAM ABSOLUTE RETURN FUND
25
ARCTIC BLUE CAPITAL 3X
40
BLUEBAY EMERGING MARKET OPPORT
13
CASSIOPEIA FUND CLASS C
59
ABACO FINANCIALS FUND
30
ARISTEIA INTERNATIONAL LTD
15
BLUEBAY EVENT DRIVEN CREDIT FU
19
CAXTON GLOBAL INVESTMENT LTD
42
ABRAX MERGER ARBITRAGE S.G. FU
54
ARROWGRASS MASTER FUND
55
BLUEMATRIX FUND CLASS -A- USD
53
CCI HEALTHCARE PARTNERS LTD
30
ABSOLUTE INSIGHT CREDIT FUND B
13
ASCEND PARTNERS FUND II LTD -
28
BLUEMOUNTAIN CREDIT ALTERNATIV
15
CCI MICRO HEALTHCARE PARTNERS
30
ABSOLUTE INSIGHT EMERGING MARK
13
ASGARD FIXED INCOME FUND LTD
15
BLUEMOUNTAIN EQUITY ALTERNATIV
59
CERBERUS INTL. LTD CLASS A A/
19
ABSOLUTE INSIGHT UK EQUITY MKT
50
ASPECT DIVERSIFIED FUND - CLAS
46
BLUEMOUNTAIN LONG SHORT EQUITY
25
CHENAVARI CORPORATE CREDIT STR
15
ADELPHI EUR. FUND $ (A)
22
ATLAS ENHANCED FUND LTD
55
BLUETREND FUND, LTD -USD- CLAS
46
CHENAVARI MULTI STRATEGY CREDI
55
ADRIGO HEDGE
22
ATLAS FUNDAMENTAL TRADING FUND
25
BNY MELLON ARX BRAZIL FUND SPC
22
CHENAVARI REGULATORY CAPITAL S
14
ADVENT GLOBAL PARTNERS
12
ATLAS GLOBAL INVESTMENTS LTD U
56
BORONIA DIVERSIFIED FUND MASTE
47
CHENAVARI TORO LIMITED
14
AG MORTGAGE VALUE PARTNERS LTD
15
ATREAUS OVERSEAS FUND LTD
42
BOUSSARD & GAVAUDAN HOLDING LT
56
CLAREANT GLOBAL SPECIAL SITUAT
15
AG SUPER FUND INTERNATIONAL, L
33
BREVAN HOWARD ASIA FUND LIMITE
41
CLAREANT STRUCTURED CREDIT OPP
15
AHL EVOLUTION
46
BREVAN HOWARD FUND, LTD - USD
42
CLAREANT STRUCTURED CREDIT OPP
15
AHL ALPHA
46
BREVAN HOWARD M/S FUND, LTD
56
COASTLAND DIRECT YIELD FUND
18
BRIGADE LEVERAGED CAPITAL STRU
18
COBALT OFFSHORE LTD
28
BRUMMER MULTISTRATEGY 2XL, LTD
56
COHERENCE CAPITAL SPECTRUM FUN
16
BTG PACTUAL GLOBAL EM. MKTS AN
42
COMMONWEALTH OPPORTUNITY CAYMA 42
AHL DIMENSION
55
AHL DIVERSIFIED
46
AJR INTERNATIONAL (BVI), INC.
28
AKAMATSU FUND
27
ALLIANCEBERNSTEIN SELECT US EQ
28
ALPHA4X CAPITAL GROWTH FUND
41
ALPHADYNE INVESTMENT STRATEGIE
41
ALPHAGEN OCTANIS CLASS A
28
ALPHAGEN VOLANTIS FUND, LTD -
31
ALTAI CAPITAL PARTNERS OFFSHOR
33
ALTIS GLOBAL TREND PORTFOLIO
46
AMAZON MARKET NEUTRAL FUND CLA
50
B
BAF LATAM TRADE FINANCE FUND
13
BASSO INVESTORS LTD
12
BAY RESOURCES PARTNERS OFFSHOR 28

BCM WESTON LP (BILLINGS CAPITA
28
BEACH POINT TOTAL RETURN OFFSH
18
BG UMBRELLA FUND PLC
34
BH-DG SYSTEMATIC TRADING FUND
46
CAIRN SPECIAL OPPORTUNITIES CR
14
BLACK DIAMOND RELATIVE VALUE L
50
CAIRN STRATA CREDIT FUND LTD
14
BLACK DIAMOND, LTD - CLASS B (
56
CAMPBELL GLOBAL ASSETS FUND LT
47
BLACKROCK EOS CLASS B USD COM
52
CAMPBELL GLOBAL ASSETS FUND LT
47
BLACKROCK MULTI-STRATEGY FUND
56
CANDLEWOOD SPECIAL SITUATIONS
19
BLACKROCK 32 CAPITAL MASTER FU
52
CANDLEWOOD STRUCTURED CREDIT H 15
BLACKROCK CAPITAL STRUCTURE IN

Source - HSBC
56
CANTAB CAPITAL PARTNERS QUANTI
47
CONQUEST MACRO FUND, LTD (COMP
47
CONTRARIAN CAPITAL FUND I OFFS
19
CONTRARIAN EMERGING MARKETS OF
13
COOPER CREEK PARTNERS LLC
31
COVALIS CAPITAL CLASS B
23
CQS ABS FEEDER FUND - CLASS -B
16
CQS DIRECTIONAL OPP. FEEDER FU
56
CQS DIVERSIFIED FUND (SPC) LTD
56
CQS GLOBAL CONVERTIBLE ARBITRA
12
CRABEL FUND SPC LTD CLASS A
47
ELECTRON GLOBAL FUND, L.P.
32
GLADE BROOK GLOBAL OFFSHORE FU
25
HIGHER MOMENT AURORA FUND LP
45
CYGNUS EUROPA EVENT DRIVEN FUN
33
ELLINGTON CREDIT OPPORTUNITIES
16
GLAZER ENHANCED OFFSHORE FUND
54
HIGHER MOMENT CAPITAL OPPORTUN
45
CYGNUS UTILITIES, INFRASTRUCTU
32
ELLINGTON MORTGAGE OPPORTUNITI
16
GLENVIEW CAPITAL PARTNERS (CAY
28
HINOKI FUND LP
29
ELM RIDGE CAPITAL PARTNERS L.P
28
GLG CROSS ASSET VALUE OFFSHORE
14
HORSEMAN GLOBAL FUND USD
26
EPISODE INC. CLASS A
42
GLG EUROPEAN EQUITY ALTERNATIV
51
HSBC CREDIT MARKET OPPORTUNITI
37
EQUILIBRIA JAPAN FUND LTD 1X U
50
GLG EUROPEAN LONG SHORT FUND C
23
HSBC GH FUND USD
38
EQUILIBRIA JAPAN FUND LTD 2X (
50
GLG MARKET NEUTRAL FUND - CLAS
56
HSBC LEVERAGED GH FUND
38
EXANE ARCHIMEDES FUND CLASS A
32
GOLDEN CHINA FUND NR CLASS
21
HSBC MAA FUND USD
37
EXANE TEMPLIERS FUND
25
GRAHAM ABSOLUTE RETURN TRADING
43
HSBC SPECIAL OPPORTUNITIES FUN
37
GRAHAM GIF II PROPRIETARY MATR
48
HSBC TRADING ADVANTEDGE FUND
38
GRAHAM GLOBAL INVESTMENT FUND
43
HSBC UCITS ADVANTEDGE FUND - U
38
48
HUDSON BAY INTERNATIONAL FUND
52
48
HUTCHIN HILL DIVERSIFIED ALPHA
57
48
GRAHAM GLOBAL INVESTMENT FUND-
43
GRANADA EUROPE FUND LTD
23
GRATICULE ASIA MACRO FUND
41
GREEN FUND LLC - CLASS I
42
GREENLIGHT CAPITAL OFFSHORE, L
29
GREYWOLF CAPITAL OVERSEAS FUND
34
GSA INTERNATIONAL FUND - CLASS
52
GSA TREND FUND
48
D
DACHARAN EQUITY FUND
53
DACHARAN HIGH EXPOSURE
46
DAVIDSON KEMPNER DIST. OPP. IN
19
DAVIDSON KEMPNER INTL, LTD - C
34
DB PLATINUM IV DBX SYSTEMATIC
47
DB PLATINUM IV MW HELIUM
47
DIAMOND NEUTRAL FUND CLASS A1
37
FARRINGDON ALPHA ONE
25
DISCUS FEEDER LTD CL. B USD ST
47
FINISTERRE CREDIT FUND
13
DORSET ENERGY FUND, LTD - CLAS
30
FINISTERRE GLOBAL OPPORTUNITY
41
DOUBLE BLACK DIAMOND LTD - SER
56
FIREBIRD NEW RUSSIA FUND, LTD
27
DROMEUS GLOBAL OPPORTUNITIES F
34
FIREBIRD REPUBLICS FUND, LTD
22
DUET EM FRONTIER FUND
22
FJ CAPITAL FINANCIAL OPPORTUNI
28
DUET GLOBAL PLUS FUND
25
FORT GLOBAL CONTRARIAN
47
DUNN WMA FUND SA
47
FORT GLOBAL DIVERSIFIED
47
DUNN WMA INSTITUTIONAL UCITS F
47
DW CATALYST OFFSHORE FUND -A -
16
DW VALUE OFFSHORE FUND LTD
16
DYMON ASIA MACRO FUND (SERIES
40
G
GABELLI ASSOCIATES LIMITED
54
GAM DIVERSITY I INC - US$ CLAS
38
GAM GLOBAL RATES HEDGE FUND
42
GAM TALENTUM ENHANCED EUROPE L
51
EAGLE GLOBAL
47
GAM TRADING II USD
38
EAGLE QUANTITATIVE MACRO
45
GAMUT INVESTMENTS
42
ECF VALUE FUND INTERNATIONAL L
34
GAVEA FUND LTD . CLASS A S/1
41
ECLECTICA FUND CLASS A EURO (T
42
GEMS PROGR. FUND SICAV RECOVER
37
ECOFIN VISTA LONG SHORT FUND
25
GEMSSTOCK FUND - B1 USD
42
EIFFEL CREDIT OPPORTUNITIES FU
14
GIM PORTFOLIO STRATEGIES Eur

Source - HSBC
23
I
III FUND LTD
36
III RELATIVE VALUE CREDIT STRA
16
III SELECT CREDIT FUND LTD CLA
16
IP ALL SEASONS ASIAN CREDIT FU
13
ISAM SYSTEMATIC TREND FUND CLA
48
IVORY CAPITAL FLAGSHIP STRATEG
29
IVORY OPTIMAL FUND LTD
29
HABROK LTD
25
HALCYON OFF. ASSET-BACKED VALU
20
HALCYON PARTNERS OFFSHORE FUND 56

HARBOUR HOLDINGS LTD
31
HARMONIC ALPHA PLUS MACRO FUN
43
HARNESS MACRO CURRENCY FUND
41
HARVEY PARTNERS LLC
31
HIGHBRIDGE CAPITAL CORPORATION
57
JABCAP EMEA FUND CLASS X1
22
JABCAP GLOBAL BALANCED FUND LT
57
JABCAP GLOBAL CONVERTIBLE FUND
12
JABCAP MULTI STRATEGY FUND LTD
57
JENOP GLOBAL HEALTHCARE FUND L
30
JPMORGAN INVESTMENT GLOBAL MAC
43
K
KEYNES LEVERAGED QUANTITATIVE
48
KG INVESTMENT FUND LLC
34
LYNX (BERMUDA) LTD
48
MITRA CAPITAL MASTER FUND LP
51
OCP DEBT OPPORTUNITY INTERNATI
19
LYNX BERMUDA 1.5 LTD
48
MKP CREDIT OFFSHORE FUND
16
OCTAGON HIGH INCOME FUND
18
MKP ENHANCED OPPORTUNITY OFFSH
43
OCTAGON PAN ASIA FUND
21
MKP OPPORTUNITY OFFSHORE, LTD
43
ODEY EUROPEAN, INC (EUR)
24
MLIS - BEACH POINT DIVERSIFIED
16
OKUMUS OPPORTUNISTIC VALUE FUN
29
MLIS - CCI HEALTHCARE LONG SHO
30
OMEGA OVERSEAS PARTNERS LTD CL
29
MLIS - MARSHALL W. TOPS UCITS
50
OMNI EVENT FUND LIMITED
34
MLIS - OZ EUROPE UCITS FUND CL
33
ONE WILLIAM STREET CAPITAL FUN
16
MLIS - THEOREMA EUROPEAN EQUIT
24
ONSLOW MACRO FUND CLASS A
43
MLM MACRO PEAK PARTNERS OFFSH
43
ORTUS AGGRESSIVE FUND (CAYMAN)
46
MOAB PARTNERS OFFSHORE FUND LT
34
ORTUS FUND (CAYMAN) LTD
46
MOJNA ALPHA LEVERAGED MASTER F
24
OWL CREEK OVERSEAS FUND, LTD
34
MONARCH DEBT RECOVERY FUND LTD
19
OWS CREDIT OPPORTUNITY FUND
19
MONEDA LATIN AMERICAN CORPORAT
13
OYSTER MARKET NEUTRAL EUR
50
MOORE GLOBAL INV FD, LTD - A $
43
MOORE MACRO MANAGERS FUND, LTD
43
MS ASCEND UCITS FUND CLASS I E
26
MUDRICK DISTRESSED OPPORTUNITY
19
KINGDON CREDIT LTD A1/1
16
M. KINGDON OFFSHORE NV - A/1
26
KINSALE COMPASS FUND
26
MACQUARIE ASIAN ALPHA FUND
51
KITE LAKE (KL) SPECIAL OPPORTU
34
MACQUARIE EUROPEAN ALPHA FUND
51
KLS DIVERSIFIED FUND LTD
18
MADRAGUE EQUITY LONG SHORT
23
KO-ZHOU FUNDAMENTAL FX FUND
41
MAN AHL CURRENCY FUND DN USD
46
MAN GLG MULTI-STRATEGY CLASS M
57
L
L1 CAPITAL LONG SHORT FUND
22
LANSDOWNE DEVELOPED MARKET FUN 26

LANSDOWNE EUROPEAN EQUITY FD,
23
LAZARD GLOBAL HEXAGON FUND
26
LAZARD RATHMORE FUND - CLASS A
12
LC EQUITY FUND LTD
23
LEGG MASON MARTIN CURRIE EUROP
23
LIGHTHORSE CHINA GROWTH FUND L
21
LIM ASIA MULTI-STRATEGY FUND C
52
LIM JAPAN FUND
58
LINDEN INTERNATIONAL LTD
57
LION FUND, LTD (THE)
54
LMR ALPHA RATES TRADING FUND,
36
LMR FUND LTD
57
LNG EUROPA CREDIT FUND
14
LONDON SELECT FUND LIMITED
43
LOOMIS SAYLES CREDIT LONG SHOR
16
LOREM IPSUM MASTER FUND LP
26
LTS GLOBAL EMERGING MARKETS FU
13
LUCERNE CAPITAL FUND L.P.
23
MAN GLG MULTI-STRATEGY FUND CL
57
MARATHON VERTEX JAPAN FD, LTD
27
MARCATO INTERNATIONAL LTD
33
MARINUS OPPORTUNITIES FUND
18
MARKHAM RAE I SUB FUND
44
MARLIN FUND LP
29
MARSHALL WACE - EUROPA FUND A
23
PALOMA INTERNATIONAL LTD CLASS
57
MARSHALL WACE - MW TOPS FUND
24
MARSHALL WACE - MW EUREKA A1 E
26
MARSHALL WACE - MW GLOBAL FINA
30
MARSHALL WACE - MW GLOBAL OPPO
26
NAPIER PARK EUROPEAN CREDIT OP
PASSPORT LONG SHORT STRATEGY F
26
MARSHALL WACE - MW MARKET NEUT
50
NEUBERGER BERMAN US LONG SHORT 29
PASSPORT SPECIAL OPPORTUNITIES
26
MASTERS FUND LTD MAGNOLIA SERI
37
NEZU CYCLICALS FUND LTD
21
PEGASUS FUND LIMITED SHARES A-
28
MAVERICK FUND, LTD - CLASS A/1
26
NORDIC ALPHA CLASS B - NOK
24
PELAGUS CAPITAL FUND
36
MELLON OFF GLOB OPP FUND LTD -
43
NORTHLIGHT EUROPEAN FUNDAMENTA 14
PELHAM LONG/SHORT FUND LTD CLA
24
MERCHANT COMMODITY FUND (THE)
40
NUMEN CREDIT OPPORTUNITIES FUN
PELHAM LONG/SHORT SMALL CAP FU
31
MERRICKS CAPITAL SOFT COMMODIT
40
PENSATO EUROPA FUND LTD EURO C
24
MIDOCEAN ABSOLUTE RETURN CREDI
18
PERCEPTIVE LIFE SCIENCES OFFSH
32
MIDOCEAN CREDIT OPPORTUNITY FU
18
PERSHING SQUARE INTL.LTD
34
MILLBURN COMMODITY PROGRAM
40
PHALANX JAPAN AUSTRALASIA MULT
55
MILLBURN DIVERSIFIED PROGRAM
48
PHARO GAIA FUND, LTD
42
MILLENNIUM INTL LTD
57
PHARO MACRO FUND, LTD
44

Source - HSBC
N
14
55
O
OBSERVATORY CREDIT MARKETS FUN
14
OCCO EASTERN EUROPEAN FUND A S
22
OCEANIC HEDGE FUND - CLASS A
21
PAMPLONA CREDIT OPPORTUNITIES
14
PARUS FUND PLC USD CLASS
26
PASSPORT GLOBAL STRATEGY FUND
26
PHARO TRADING FUND, LTD
42
RENAISSANCE INSTITUTIONAL DIVE
51
SMN DIVERSIFIED FUTURES FUND
49
TRICADIA CREDIT STRATEGIES, LT
17
PIMCO ABSOLUTE RETURN STRATEGY
44
RENAISSANCE INSTITUTIONAL EQUI
29
SOLAISE SYSTEMATIC FUND LTD (
49
TRISHIELD SPECIAL SITUATIONS F
35
PIMCO GLOBAL CREDIT OPPORTUNIT
17
RESIDENTIAL REAL ESTATE TOTAL
17
SOLUS SOLA LTD CL. I
35
TRISTAN PARTNERS LP
31
PIMCO MULTI-ASSET VOLATILITY F
59
ROY G. NIEDERHOFFER DIVERSIFIE
48
SOUND POINT BEACON OFFSHORE FU
20
TT INTERNATIONAL FUND
44
PIMCO TACTICAL OPPORTUNITIES F
17
RP DEBT OPPORTUNITIES FUND
17
SPF CREDIT SUISSE SECURITIZED
17
TT LONG/SHORT FOCUS FUND
25
PINE RIVER CONVERTIBLES FUND
12
RP SELECT OPPORTUNITIES FUND
17
SPINNAKER GLOB OPP FUND, LTD C
42
TT MID-CAP EUROPE LONG/SHORT F
25
PINE RIVER FIXED INCOME FUND L
17
RUBICON GLOBAL FUND, LTD
44
SPINNAKER GLOBAL EMERGING MARK
55
TUDOR B.V.I GLOBAL FUND LTD -A
44
PINE RIVER FUND CLASS -B1- SHA
57
RUSSIAN PROSPERITY FUND - A
39
SR GLOBAL FUND (Class N) Emerg
22
TUDOR BVI GLOBAL FUND LTD CLAS
44
PINE RIVER LIQUID RATES FUND
36
RV CAPITAL ASIA OPPORTUNITY FU
41
SR GLOBAL FUND C - INTERNATION
27
TUDOR DISCRETIONARY MACRO FUND
44
PINPOINT CHINA FUND CLASS A US
21
RWC ASIA ABSOLUTE ALPHA FUND -
27
SR GLOBAL FUND H - JAPAN (Real
27
TULIP TREND FUND, LTD - A
49
PINPOINT MULTI-STRATEGY FUND
44
RWC ASIA OPPORTUNITY FUND
21
SR GLOBAL FUND INC - G - GLOBA
27
TWO SIGMA ABSOLUTE RETURN CAYM
52
PLATINUM FUND LTD
27
RWC SAMSARA FUND CLASS A EURO
24
SR PHOENICIA INC CLASS -A- SER
27
TWO SIGMA COMPASS CAYMAN FUND
49
PLATINUM PARTNERS VALUE ARBITR
57
RWC US ABSOLUTE ALPHA FUND - C
29
STANDARD LIFE GLOBAL FOCUSED S
44
TYRUS CAPITAL EVENT FUND LTD
35
POLAR CAPITAL EUROPEAN CONVICT
24
STK CAPITAL GLOBAL EQUITIES
27
POLAR CAPITAL EUROPEAN FORAGER
31
STRATEGIC VALUE RESTRUCTURING
20
STRATUS FUND LIMITED CLASS B
58
SUSA EUROPEAN EQUITIES FUND CL
24
PORTLAND HILL OVERSEAS FUND LT
33
POTOMAC RIVER CAPITAL MASTER F
44
PROLOGUE FEEDER FUND, LTD. CLA
36
PSAM REBOUND PORTFOLIO FUND LT
19
PSAM WORLDARB MASTER FUND LTD
34
PWP GLOBAL MACRO FUND
44
S
SABA CAPITAL OFFSHORE FUND LTD
17
SAGIL LATIN AMERICAN OPPORTUNI
22
SALAR CONVERTIBLE ABSOLUTE RET
12
SANCTUM FIXED INCOME FUND
36
SANDLER PLUS OFFSHORE FUND LTD
29
TELLIGENT GREATER CHINA FUND
21
SCHRODER CAZENOVE UK ABSOLUTE
50
TEWKSBURY INVESTMENT FUND, LTD
49
SCHRODER ISF EMERGING MARKET D
13
THE CAMBRIDGE STRATEGY - ASIAN
40
SEER CAPITAL PARTNERS OFFSHORE
17
THE CAMBRIDGE STRATEGY - EMERG
41
U
UMJ KOTOSHIRO FUND
27
VARDEN PACIFIC OPPORTUNITY OFF
17
VERITION MULTI-STRATEGY FUND C
58
VISIUM BALANCED OFFSHORE FUND
32
VISIUM GLOBAL OFFSHORE FUND LT
58
VISIUM INSTITUTIONAL PARTNERS
31
VR GLOBAL OFFSHORE FUND LTD
20
QMS DIVERSIFIED GLOBAL MACRO
48
SEGANTII ASIA-PACIFIC EQUITY M
55
THREADNEEDLE UK ABSOLUTE ALPHA
28
QUAM CHINA FOCUS SEGREGATED PO
21
SELIGMAN TECH SPECTRUM FUND CL
32
TIG ARBITRAGE ENHANCED FUND
33
QVT OFFSHORE LTD CLASS 1-NR
57
SEMINOLE OFFSHORE FUND
29
TIG SECURITIZED ASSET FUND LTD
17
SENVEST PARTNERS, LTD - CLASS
31
TILDEN PARK OFFSHORE INVESTMEN
18
SERONE KEY OPPORTUNITIES FUND
15
TONGA PARTNERS LP
31
WEISS MULTI-STRATEGY PARTNERS
58
SFP VALUE REALIZATION FUND
27
TOSCA CLASS A - USD
30
WELLINGTON MANAGEMENT INV BERM
30
49
R
RBR EUROPEAN LONG SHORT LTD (E
24
REAL RETURN ASIAN FUND LTD (TH
21
REDWOOD OFFSHORE FUND
20
SIERRA EUROPE OFFSHORE, LTD -
24
TRADELINK INTEGRATED PROGRAM L
49
WELTON GLOBAL DIRECTIONAL PORT
SINFONIETTA FUND
41
TRIAN PARTNERS LTD
35
WF ASIA FUND LTD S/1
21
SIVIK GLOBAL HEALTHCARE OFFSHO
32
TRIAS L/S FUND
24
WHITEBOX MULTI-STRATEGY FUND
35

Source - HSBC
WINTON EVOLUTION FUND
49
WINTON FUTURES FUND
49
WYETREE EUROPEAN RECOVERY FUND 15

WYETREE YIELD DISTRIBUTION FUN
18
Z
ZADIG FUND CLASS A1
25
ZEAL CHINA FUND LTD - USD -NI
21
ZWEIG-DIMENNA INTL LIMITED - C
29

Source - HSBC
Top
Investment Funds
Bottom
Return
Date
Investment Funds
Return
Date
DORSET ENERGY FUND, LTD - CLASS A
40.83
20 May 16
-27.95
20 May 16
20.38
19 May 16
ALTAI CAPITAL PARTNERS OFFSHORE, LTD
-27.03
30 Apr 16
19.37
30 Apr 16
OKUMUS OPPORTUNISTIC VALUE FUND, LTD CLASS A
-25.36
30 Apr 16
HALCYON PARTNERS OFFSHORE FUND LTD
18.61
20 May 16
SR GLOBAL FUND H - JAPAN (Real Perf)
-21.96
20 May 16
VARDEN PACIFIC OPPORTUNITY OFFSHORE FUND I LTD
15.21
30 Apr 16
-20.93
31 Mar 16
MUDRICK DISTRESSED OPPORTUNITY FUND LTD
15.10
20 May 16
30 Apr 16
15.03
30 Apr 16
WELLINGTON MANAGEMENT INV BERMUDA LTD BAY

POND A/1 NI
-20.68

CONQUEST MACRO FUND, LTD (COMP)
14.53
24 May 16
JENOP GLOBAL HEALTHCARE FUND LTD SERIES A
-20.17
10 May 16
ELM RIDGE CAPITAL PARTNERS L.P.
14.16
30 Apr 16
-18.20
20 May 16
-17.05
24 May 16
JABCAP GLOBAL BALANCED FUND LTD CLASS D/1 NI
-16.90
17 May 16
-16.73
20 May 16
14.06
20 May 16
12.67
30 Apr 16
CQS DIRECTIONAL OPP. FEEDER FUND. Ltd A NI USD
11.55
30 Apr 16
PEGASUS FUND LIMITED SHARES A-1
11.15
13 May 16
10.67
20 May 16
ECF VALUE FUND INTERNATIONAL LTD
10.60
30 Apr 16
BRIGADE LEVERAGED CAPITAL STRUCTURES FUND

LTD
10.52
20 May 16
10.23
30 Apr 16
VISIUM INSTITUTIONAL PARTNERS FUND LTD
-16.34
20 May 16
-16.25
20 May 16
-16.05
30 Apr 16
AMAZON MARKET NEUTRAL FUND CLASS A USD
-16.04
30 Apr 16
ZWEIG-DIMENNA INTL LIMITED - CLASS A
-15.66
31 Mar 16
LANSDOWNE EUROPEAN EQUITY FD, LTD - A (EUR)
-14.62
29 Apr 16
FIREBIRD NEW RUSSIA FUND, LTD - CLASS A
9.73
20 May 16
-14.62
20 May 16
9.20
20 May 16
JABCAP MULTI STRATEGY FUND LTD CLASS D/1 NI
-13.74
13 May 16
SAGIL LATIN AMERICAN OPPORTUNITIES FUND CLASS

A
8.81
30 Apr 16
CCI MICRO HEALTHCARE PARTNERS LTD
-13.63
30 Apr 16
This ranking is for information only and should not be considered as exhaustive.
Source - HSBC
Top
Investment Funds
Bottom
Date
Investment Funds
Return
60.52
31 Dec 15
Return
-44.05
31 Dec 15
Date
58.52
31 Dec 15
ALTAI CAPITAL PARTNERS OFFSHORE, LTD
-39.09
31 Dec 15
PERCEPTIVE LIFE SCIENCES OFFSHORE FUND LTD
49.60
31 Dec 15
ELM RIDGE CAPITAL PARTNERS L.P.
-29.96
31 Dec 15
43.43
31 Dec 15
MUDRICK DISTRESSED OPPORTUNITY FUND LTD
-25.71
31 Dec 15
PELHAM LONG/SHORT SMALL CAP FUND LTD
42.71
31 Dec 15
ANDALUSIAN CORPORATE OPPORTUNITIES FUND LP
-22.85
31 Dec 15
HIGHER MOMENT CAPITAL OPPORTUNITIES, LP
31.61
31 Dec 15
ECF VALUE FUND INTERNATIONAL LTD
-20.57
31 Dec 15
SEGANTII ASIA-PACIFIC EQUITY MULTI-STRATEGY FUND
29.51
31 Dec 15
GREENLIGHT CAPITAL OFFSHORE, LTD - A/1
-20.38
31 Dec 15
LANSDOWNE EUROPEAN EQUITY FD, LTD - A (EUR)
28.24
31 Dec 15
TRISHIELD SPECIAL SITUATIONS FUND LLC
-19.85
31 Dec 15
CYGNUS EUROPA EVENT DRIVEN FUND
27.54
31 Dec 15
GLENVIEW CAPITAL PARTNERS (CAYMAN), LTD.
-18.12
31 Dec 15
26.81
31 Dec 15
SENVEST PARTNERS, LTD - CLASS A
-17.34
31 Dec 15
AMAZON MARKET NEUTRAL FUND CLASS A USD
26.27
31 Dec 15
-16.66
31 Dec 15
25.50
31 Dec 15
CANDLEWOOD SPECIAL SITUATIONS FUND LTD
-14.25
31 Dec 15
CLAREANT GLOBAL SPECIAL SITUATIONS FUND
23.71
31 Dec 15
GREYWOLF CAPITAL OVERSEAS FUND
-14.14
31 Dec 15
PENSATO EUROPA FUND LTD EURO CLASS
23.68
31 Dec 15
-13.76
31 Dec 15
ABRAX MERGER ARBITRAGE S.G. FUND
22.73
31 Dec 15
-13.46
31 Dec 15
TRIAS L/S FUND
22.56
31 Dec 15
-12.82
31 Dec 15
21.94
31 Dec 15
TONGA PARTNERS LP
-12.61
31 Dec 15
21.64
31 Dec 15
POLAR CAPITAL EUROPEAN CONVICTION FUND LIMITED
-12.20
31 Dec 15
20.42
31 Dec 15
-11.65
31 Dec 15
FJ CAPITAL FINANCIAL OPPORTUNITY FUND LTD
19.64
31 Dec 15
BNY MELLON ARX BRAZIL FUND SPC LONG SHORT
-11.34
31 Dec 15
Source - HSBC
10
Top
Investment Funds
Bottom
Date
Investment Funds
ISAM SYSTEMATIC TREND FUND CLASS Q
Return
61.95
31 Dec 14
Return
MERCHANT COMMODITY FUND (THE) - COMPOSITE
59.33
31 Dec 14
FIREBIRD NEW RUSSIA FUND, LTD - CLASS A
-34.59
31 Dec 14
MAN AHL CURRENCY FUND DN USD
58.05
31 Dec 14
-27.20
31 Dec 14
-43.99
Date
31 Dec 14
SMN DIVERSIFIED FUTURES FUND
57.24
31 Dec 14
-22.64
31 Dec 14
42.18
31 Dec 14
PEGASUS FUND LIMITED SHARES A-1
-15.72
31 Dec 14
CANTAB CAPITAL PARTNERS QUANTITATIVE FUND

(THE) - USD ARISTARCHUS
39.31
31 Dec 14
PHALANX JAPAN AUSTRALASIA MULTI-STRATEGY FUND

LTD
-12.87
31 Dec 14
38.31
31 Dec 14
-12.55
31 Dec 14
37.24
31 Dec 14
-11.47
31 Dec 14
36.15
31 Dec 14
-10.80
31 Dec 14
DUNN WMA FUND SA
35.08
31 Dec 14
-10.36
31 Dec 14
SEGANTII ASIA-PACIFIC EQUITY MULTI-STRATEGY FUND
34.88
31 Dec 14
-9.85
31 Dec 14
WELTON GLOBAL DIRECTIONAL PORTFOLIO
34.01
31 Dec 14
-8.57
31 Dec 14
AHL DIVERSIFIED
33.79
31 Dec 14
-8.29
31 Dec 14
32.91
31 Dec 14
QUAM CHINA FOCUS SEGREGATED PORTFOLIO
-8.20
31 Dec 14
GSA TREND FUND
32.59
31 Dec 14
OWL CREEK OVERSEAS FUND, LTD
-8.00
31 Dec 14
ASPECT DIVERSIFIED FUND - CLASS A
32.05
31 Dec 14
-7.94
31 Dec 14
30.02
31 Dec 14
GLG MARKET NEUTRAL FUND - CLASS Z USD Unres
-7.43
31 Dec 14
SELIGMAN TECH SPECTRUM FUND CLASS -A1-S/2-2002
30.00
31 Dec 14
AJR INTERNATIONAL (BVI), INC. - A/1
-6.92
31 Dec 14
OKUMUS OPPORTUNISTIC VALUE FUND, LTD CLASS A
29.71
31 Dec 14
TOSCA CLASS A - USD
-6.79
31 Dec 14
28.09
31 Dec 14
MLIS - OZ EUROPE UCITS FUND CLASS B EUR
-6.70
31 Dec 14
Source - HSBC
11
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(1.03%)
0.38%
2.08%
3.94%
-1.54%
10.51%
8.45%
-6.27%
7.37%
6.77%
Max
Drawdown1
Convertible
Ytd Avg. 2016
(0.26%)
Convertible/Global
ADVENT GLOBAL PARTNERS
ADVENT CAPITAL MANAGEMENT
30 Sep 96
BASSO INVESTORS LTD

Howard Fischer
30 Sep 95
Q
Q
CQS GLOBAL CONVERTIBLE

30 Jun 14
ARBITRAGE MASTER FUND LTD
CQS (UK) LLP, Alex Schoenenberger
JABCAP GLOBAL CONVERTIBLE

FUND - D1 Unrestricted
Philippe Jabre
30 Apr 07
LAZARD RATHMORE FUND CLASS A-2

Sean Reynolds
31 May 07
SALAR CONVERTIBLE ABSOLUTE

RETURN FUND
Alex Warren, David Persaud
31 Aug 10
Q/M
$311M
Mar 16
$444M
Apr 16
404.16
20 May 16
7,486.03 20 May 16
$496M
Apr 16
108.46
$227M
Apr 16
181.59
$826M
Feb 16
201.95
$217M
Apr 16
117.89
$219M
May 16
0.43%
1.64%
2.11%
1.95%
11.45%
9.5%
2.61%
10.24%
5.74%
(25.00%)
Dec 07 - Oct 08
06 May 16 (0.01%)
1.76%
7.54%
-0.88%
4.48%
2.96%
(1.53%)
Jul 14 - Sep 14
17 May 16 (1.96%)
(9.94%)
0.25%
4.13%
27.14%
5.37%
-14.15%
6.81%
12.18%
(28.61%)
May 08 - Nov 08
20 May 16 (0.31%)
0.15%
-3.74%
-1.69%
10.55%
4.73%
-1.64%
8.14%
8.06%
(16.25%)
Aug 08 - Nov 08
20 May 16
0.27%
(1.88%)
1.9%
0.71%
10.34%
6.42%
-2.86%
2.92%
3.52%
(7.17%)
May 15 - Mar 16
Convertible/USA
PINE RIVER CONVERTIBLES FUND 31 Jul 09
Franklin Parlamis
(27.58%)
Oct 07 - Nov 08
198.67
30 Apr 16
Ytd Avg. 2016

4.39%
4.70%
4.39%
-3.59%
0.41%
19.34%
7.6%
4.98%
10.70%
7.15%
(11.01%)
Jun 15 - Jan 16
1. Max Drawdown: Peak to trough.

Source - HSBC
12
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

1.67%
25 May 16 (1.37%)
2.38%
-4.31%
2.42%
-0.65%
11.73%
0.08%
4.59%
6.85%
Max
Drawdown1
Credit
Ytd Avg. 2016
0.14%
Credit/Emerging
ABSOLUTE INSIGHT EMERGING
MARKET DEBT FUND CLASS B1P
Colm McDonagh
30 Apr 08
BAF LATAM TRADE FINANCE FUND 29 Feb 08

Ernesto Lienhard & team.
BLUEBAY EMERGING MARKET

31 Oct 11
CORPORATE ALPHA FUND
Polina Kurdyavko and Anthony Kettle
BLUEBAY EMERGING MARKET

OPPORTUNITY FUND
BlueBay Asset Management LLP David Dowsett
31 May 07
CONTRARIAN EMERGING
MARKETS OFF FUND LTD
Xiao Song
31 Dec 05
FINISTERRE CREDIT FUND

Rafal Biosse Duplan
31 Jan 06
IP ALL SEASONS ASIAN CREDIT

FUND
Job Campbell
31 Jan 02
M
W
LTS GLOBAL EMERGING MARKETS 31 Dec 11

FUND LTD
LTS Capital LLP, Simon Dalah &
Anthony Nahum
MONEDA LATIN AMERICAN

CORPORATE DEBT FUND -AFernando Tisn and Javier Montero
30 Sep 07
SCHRODER ISF EMERGING

MARKET DEBT A/R -I ACCAbdallah Guezour
31 Jan 02
781M
Mar 16
1.44
$820M
Mar 16
1,999.89
$36M
Apr 16
110.08
$34M
Mar 16
175.07
$439M
Mar 16
340.60
$572M
Apr 16
204.37
$142M
Apr 16
24.71
$50M
Apr 16
111.60
$203M
Apr 16
$3'374M
Mar 16
30 Apr 16
640M
Mar 16
0.57%
2.27%
7.2%
7.76%
8.09%
8.71%
8.99%
8.85%
0.52%
0.00%
Jan 00 - Jan 00
20 May 16 (1.47%)
(1.67%)
2.44%
11.29%
-7.22%
12.29%
2.19%
3.96%
6.47%
(12.26%)
Feb 13 - Sep 13
31 Mar 16
0.54%
(1.46%)
-4.87%
-2.05%
-1.96%
11.33%
2.85%
6.54%
8.61%
(19.88%)
Feb 08 - Nov 08
30 Apr 16
0.31%
(4.07%)
14.48%
-1.98%
14.61%
23.2%
-7.16%
12.59%
13.37%
(28.43%)
Feb 08 - Oct 08
30 Apr 16
0.89%
(0.62%)
-2.41%
2.62%
4.78%
18%
-4.14%
7.22%
11.05%
(33.64%)
Jun 08 - Dec 08
18 May 16
1.12%
6.80%
-0.39%
4.94%
2.2%
18.68%
-1.37%
6.53%
9.08%
(38.05%)
Feb 08 - Mar 09
30 Apr 16
1.57%
2.11%
3%
3.47%
2.55%
11.27%
5.12%
3.44%
(2.46%)
Oct 14 - Jan 15
1,827.86 25 May 16
0.63%
3.78%
-6.12%
3.36%
8.67%
11.48%
2.44%
7.21%
13.48%
(32.05%)
Aug 08 - Dec 08
34.97
25 May 16 (2.90%)
7.22%
-4.87%
0.62%
0.8%
5.36%
0.69%
7.05%
5.43%
(9.31%)
Mar 08 - Oct 08
Credit/Europe
ABSOLUTE INSIGHT CREDIT FUND 30 Sep 11
B1P2 EURO
Alex Veroude
(15.32%)
May 08 - Oct 08
1.20
25 May 16
Ytd Avg. 2016

(0.87%)
0.55%
(4.10%)
-1.06%
2.21%
7.38%
12.65%
2.59%
4.06%
4.44%
(8.44%)
Jul 14 - Mar 16

Source - HSBC
13
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Credit/Europe
CAIRN SPECIAL OPPORTUNITIES
CREDIT FUND
Cairn Capital Limited
31 Dec 07
CAIRN STRATA CREDIT FUND LTD 31 Dec 14

Cairn Capital Limited
CAPEVIEW RECOVERY FUND

Theo Phanos
30 Jun 03
CAPITAL FOUR CREDIT

OPPORTUNITIES FUND
Capital Four Management Team
31 Dec 09
CHENAVARI REGULATORY
CAPITAL STRATEGY - DR
Chenavari Investment Managers
31 Mar 11
CHENAVARI TORO LIMITED

31 May 09
EIFFEL CREDIT OPPORTUNITIES

FUND CLASS A
Emmanuel Weyd, Eiffel Investment
Group
30 Nov 11
GLG CROSS ASSET VALUE

OFFSHORE FUND Class A USD
Unres
Chris Huggins
30 Nov 12

LNG Capital LLP
31 Mar 11
M
M
NAPIER PARK EUROPEAN CREDIT 31 Aug 10

OPPORTUNITIES FUND LTD
Napier Park Global Capital (US) LP
NORTHLIGHT EUROPEAN
FUNDAMENTAL CREDIT FUND
NORTHLIGHT GROUP LLP
30 Nov 09
OBSERVATORY CREDIT MARKETS 30 Jun 04

FUND (THE)
Shazad Ghaffar
PAMPLONA CREDIT
OPPORTUNITIES FUND
Yves Leysen
31 Aug 08
122M
Apr 16
175.57
59M
Apr 16
97.67
$355M
Feb 16
347.14
114M
May 16
152.82
$171M
Mar 16
190.29
$396M
Mar 16
1,070.58
75M
Apr 16
1,285.09 20 May 16
$245M
Mar 16
1,194.17 20 May 16
$119M
Mar 16
1,223.78
362M
Apr 16
260.74
$210M
Mar 16
30 Apr 16
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(0.87%)
1.67%
(2.40%)
-3.28%
2.3%
8.54%
19.95%
-12.51%
6.98%
7.50%
Max
Drawdown1
(13.94%)
Jun 11 - Nov 11
30 Apr 16
1.35%
(3.03%)
0.72%
(1.76%)
4.62%
(7.21%)
May 15 - Feb 16
20 May 16
1.09%
(0.16%)
4.06%
3.14%
18.23%
8.41%
1.48%
10.13%
8.39%
(30.45%)
Oct 07 - Dec 08
30 Apr 16
1.87%
0.04%
3.84%
11.37%
16.31%
17.68%
10.64%
13.92%
7.04%
(6.46%)
May 11 - Nov 11
31 Mar 16
2.48%
3.34%
10.44%
8.84%
15.19%
36.91%
-2.87%
13.72%
4.70%
(4.65%)
Jul 11 - Sep 11
30 Apr 16
0.92%
(1.20%)
15.22%
24.82%
32.93%
32.42%
24.71%
40.86%
11.47%
(5.11%)
Jul 11 - Oct 11
0.00%
(2.59%)
-5.61%
4.53%
8.11%
20.07%
3.01%
5.76%
6.37%
(12.78%)
May 15 - Feb 16
2.22%
(3.12%)
4.87%
4.68%
11.5%
0.71%
5.24%
4.91%
(7.87%)
Dec 15 - Feb 16
31 Mar 16
3.49%
5.04%
2.22%
-10.36%
16.1%
19.58%
-7.79%
4.25%
8.40%
(12.90%)
Jun 14 - Dec 14
30 Apr 16
1.95%
1.33%
8.12%
8.89%
31.11%
55.73%
-2.23%
18.42%
8.90%
(14.95%)
May 11 - Dec 11
1,523.79 20 May 16
0.89%
1.07%
5.12%
5.91%
12.51%
6.31%
3.68%
6.72%
2.50%
(2.13%)
Sep 15 - Feb 16
$1'010M
Apr 16
327.81
374M
Apr 16
192.73
30 Apr 16
1.08%
1.37%
3.13%
3.31%
7.25%
13.46%
-5.02%
10.55%
6.10%
(12.74%)
Jul 07 - Jul 08
20 May 16
0.15%
(4.46%)
0.22%
6.55%
12.68%
19.87%
-9.26%
8.87%
7.58%
(17.90%)
Apr 11 - Dec 11

Source - HSBC
14
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Credit/Europe
SERONE KEY OPPORTUNITIES
FUND
Serone Capital Management, Serj
Walia
29 Feb 12
WYETREE EUROPEAN RECOVERY 31 Aug 13

FUND (WERF)
WyeTree Asset Management
$147M
Mar 16
252.05
55M
Apr 16
105.92
30 Apr 16
ARISTEIA INTERNATIONAL LTD

Anthony M. Frascella, William R.
Techar
01 Aug 97
ASGARD FIXED INCOME FUND LTD 30 Jun 03

Morten Mathiesen
BLUEBAY CREDIT ALPHA LONG

SHORT FUND
Geraud Charpin
31 Oct 11
BLUEMOUNTAIN CREDIT
ALTERNATIVES FUND
BlueMountain Capital Management
31 Oct 03
CANDLEWOOD STRUCTURED
CREDIT HARVEST FD LTD
Greg Richter and Brian Herr
31 Jul 12
CHENAVARI CORPORATE CREDIT 30 Sep 08

STRATEGY M1
CLAREANT GLOBAL SPECIAL

SITUATIONS FUND
Alcentra Ltd / David Forbes-Nixon
31 Oct 07
CLAREANT STRUCTURED CREDIT 31 Aug 09

OPPORTUNITIES FUND
Alcentra Ltd / Hiram Hamilton
CLAREANT STRUCTURED CREDIT 31 Jan 11

OPPORTUNITIES FUND II
Alcentra Ltd / Hiram Hamilton
YTD
2015
Ytd Avg. 2016

(0.87%)
2.52%
2.05%
11.05%
2014
2013
2012
9.14%
25.94%
61.8%
2011
Ann.
Return
Ann.
Volatility
24.82%
8.56%
Max
Drawdown1
(4.47%)
Nov 15 - Feb 16
30 Apr 16
0.50%
(7.04%)
-5.25%
16.86%
2.91%
2.18%
6.33%
(14.52%)
Mar 15 - Feb 16
Credit/Global
AG MORTGAGE VALUE PARTNERS 30 Apr 09
LTD
Jonathan Lieberman
MTD
$1'382M
Mar 16
257.54
$957M
May 16
829.49
268M
Feb 16
531.96
191M
Apr 16
132.01
$6'570M
Mar 16
260.40
$394M
Apr 16
134.49
$237M
Mar 16
140.18
115M
Mar 16
170.82
142M
Apr 16
538.76
220M
Apr 16
312.24
30 Apr 16
Ytd Avg. 2016

(0.15%)
1.10%
(1.33%)
4.43%
10.07%
12.91%
20.59%
7.47%
14.46%
4.26%
(3.76%)
Oct 15 - Feb 16
30 Apr 16
1.11%
0.14%
-7.22%
-3.13%
15.67%
11.2%
2.36%
11.94%
8.79%
(30.20%)
May 08 - Dec 08
04 May 16
0.04%
5.25%
8.8%
10.6%
16.02%
34.12%
25.32%
13.89%
6.71%
(10.40%)
Aug 08 - Oct 08
20 May 16
0.86%
(1.13%)
1.57%
0.92%
12.13%
26.17%
0.3%
8.30%
4.92%
(4.75%)
Feb 15 - Apr 16
20 May 16
1.51%
(0.55%)
0.07%
2.67%
7.87%
14.51%
3.56%
7.92%
5.86%
(11.83%)
Aug 08 - Dec 08
30 Apr 16
0.30%
(5.31%)
-1.04%
13.78%
14.05%
10.71%
8.22%
4.52%
(9.96%)
Jun 15 - Mar 16
29 Apr 16 (0.18%)
(8.09%)
1.4%
3.94%
13.84%
17.22%
1.29%
9.17%
5.69%
(9.40%)
Apr 15 - Apr 16
31 Mar 16
2.02%
0.29%
23.71%
-1.88%
12%
16.64%
-8.59%
6.56%
14.84%
(48.74%)
Oct 07 - Dec 08
30 Apr 16
1.02%
(3.05%)
3.68%
7.28%
29.09%
44.15%
8.7%
28.73%
16.98%
(15.92%)
May 11 - Nov 11
30 Apr 16
2.76%
1.41%
8.89%
5.51%
48.08%
50.97%
19.88%
24.22%
12.17%
(8.17%)
May 11 - Sep 11

Source - HSBC
15
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Credit/Global
COHERENCE CAPITAL SPECTRUM 31 Jul 12
FUND OFFSHORE FUND
Coherence Capital Partners LLC
CQS ABS FEEDER FUND - CLASS

-B1- USD
Simon Finch
30 Sep 06
DW CATALYST OFFSHORE FUND

-A - USD NI
DW Partners, LP
31 Jul 09
DW VALUE OFFSHORE FUND LTD

DW Partners, LP
29 Feb 12
ELLINGTON CREDIT
Ellington Management Group, LLC
30 Apr 08
ELLINGTON MORTGAGE
OPPORTUNITIES MASTER FUND
LTD
Ellington Management Group, LLC
31 Jan 09
III RELATIVE VALUE CREDIT

STRATEGIES FUND LTD
Lester Coyle
31 Oct 05
III SELECT CREDIT FUND LTD

CLASS -ALester Coyle
31 Dec 07
KINGDON CREDIT LTD A1/1

Michael Pohly
30 Sep 09
LOOMIS SAYLES CREDIT LONG

SHORT FUND
Kevin Kearns and Tom Stolberg
31 Aug 07
MKP CREDIT OFFSHORE FUND

MKP Capital Management, L.L.C.
28 Feb 99
MLIS - BEACH POINT DIVERSIFIED 31 Mar 13

CREDIT UCITS FUND CLASS B USD
Carl Goldsmith and Scott Klein
ONE WILLIAM STREET CAPITAL
FUND
OWS Capital Management
31 Mar 08
HY
Q
Q
Q
Q
W
Q/Y
$92M
Apr 16
15.02
$1'077M
Apr 16
5,082.87
$4'400M
Mar 16
165.36
$900M
Mar 16
156.68
$840M
Apr 16
269.01
$301M
Apr 16
267.55
20 May 16
MTD
YTD
Ytd Avg. 2016

(0.15%)
0.50%
2.23%
2015
2014
2013
2012
5.2%
2.83%
18.98%
14.17%
2011
Ann.
Return
Ann.
Volatility
11.29%
4.34%
Max
Drawdown1
(2.98%)
Jun 14 - Oct 14
30 Apr 16
1.89%
(4.52%)
-2.36%
8.02%
9.7%
16.85%
0.67%
18.48%
10.87%
(11.97%)
May 15 - Feb 16
30 Apr 16
1.91%
(2.55%)
-8.9%
5.8%
13.91%
15.34%
1.22%
7.73%
4.89%
(14.77%)
Apr 15 - Mar 16
30 Apr 16
1.57%
(0.08%)
-1.46%
8.1%
23.7%
19.01%
11.37%
5.59%
(6.74%)
Apr 15 - Feb 16
30 Apr 16
0.47%
(4.09%)
3.22%
7.89%
15.28%
27.73%
1.86%
13.16%
5.70%
(5.51%)
Aug 15 - Mar 16
30 Apr 16
0.52%
0.97%
1.79%
7.25%
9.64%
13.29%
16.19%
14.54%
3.92%
(0.85%)
May 15 - Oct 15
$126M
Mar 16
1,775.66 20 May 16 (0.40%)
$142M
Mar 16
1,859.46 20 May 16 (0.37%)
$335M
Apr 16
1,591.21
$685M
Apr 16
170.03
$2'012M
Nov 15
474.17
$207M
Oct 15
107.70
$961M
May 16
1,987.57
2.19%
-7.26%
5.23%
8.5%
10.22%
10.36%
5.59%
7.58%
(31.27%)
Nov 07 - Dec 08
2.27%
-8.35%
6.02%
8.56%
11.95%
7.41%
7.79%
6.33%
(10.51%)
May 15 - Feb 16
30 Apr 16
1.89%
(0.21%)
-2.68%
3.42%
15.67%
8.3%
1.64%
7.42%
5.31%
(10.60%)
May 15 - Feb 16
20 May 16
0.14%
2.11%
-2.52%
-2.44%
4.35%
12.48%
-0.76%
6.27%
6.30%
(9.90%)
Jun 08 - Sep 08
30 Apr 16
0.37%
(7.37%)
-6.74%
5.33%
11.18%
19.63%
-5.12%
9.48%
5.64%
(16.78%)
May 15 - Mar 16
24 May 16
0.10%
3.16%
-1.98%
-2.52%
9.26%
2.38%
5.26%
(9.25%)
Jun 14 - Feb 16
30 Apr 16
2.00%
(0.21%)
2.33%
10.05%
5.75%
18.98%
-4.19%
8.86%
5.51%
(8.43%)
Feb 11 - Nov 11

Source - HSBC
16
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Credit/Global
PIMCO GLOBAL CREDIT
OPPORTUNITY FUND SERIES 1
Dan Ivascyn / Jon Horne
30 Jun 06
PIMCO TACTICAL OPPORTUNITIES 31 Jan 13

FUND
PIMCO LLC - Dan Ivascyn / Josh
Anderson / Alfred Murata
PINE RIVER FIXED INCOME FUND
LTD
Steve Kuhn, Colin Teichholtz,
Brendan McAllister, Jiayi Chen
31 Aug 08
RESIDENTIAL REAL ESTATE

TOTAL RETURN OPP. FUND
(RRETRO FUND)
30 Nov 08
RP DEBT OPPORTUNITIES FUND

RP Investment Advisors
30 Sep 09
RP SELECT OPPORTUNITIES
FUND
RP Investment Advisors
31 Mar 14
SABA CAPITAL OFFSHORE FUND

LTD
Boaz Weinstein
31 Jul 09
HY
M
M
SEER CAPITAL PARTNERS

30 Apr 09
OFFSHORE FUND LTD
Phil Weingord, Richard d'Albert, Seer
Capital
SPF CREDIT SUISSE SECURITIZED 31 Dec 11

PRODUCTS MASTER FUND LTD
Albert Sohn
TIG SECURITIZED ASSET FUND

LTD
Stuart Lippman, David Liu
30 Sep 12
TRICADIA CREDIT STRATEGIES,

LTD
Arif Inayatullah & Michael Barnes
31 Mar 05
VARDEN PACIFIC OPPORTUNITY

OFFSHORE FUND I LTD
Varden Pacific LLC
31 Mar 11
$3'380M
Apr 16
192.13
$972M
Apr 16
131.50
$1'623M
May 16
476.80
$96M
Mar 16
206.64
$942M
Apr 16
190.73
$236M
Apr 16
110.48
$1'191M
May 16
123.31
$1'450M
Mar 16
200.30
$1'888M
Apr 16
160.34
$684M
Apr 16
148.53
$1'573M
Mar 16
341.88
$427M
Apr 16
148.35
30 Apr 16
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(0.15%)
0.81%
1.06%
6.89%
4.34%
7.45%
15.18%
6.24%
6.86%
4.81%
Max
Drawdown1
(12.86%)
Jun 07 - Nov 08
30 Apr 16
1.24%
0.80%
5.68%
7.56%
14.76%
8.80%
4.11%
(1.88%)
May 13 - Jun 13
30 Apr 16
1.50%
(3.63%)
-2.52%
6.13%
10.18%
34.85%
4.77%
22.59%
9.37%
(8.99%)
May 15 - Mar 16
30 Apr 16
2.20%
(3.66%)
-0.42%
12.66%
17.56%
24.07%
-10.5%
10.28%
6.42%
(14.92%)
Feb 11 - Dec 11
30 Apr 16
1.53%
2.97%
5.13%
5.07%
10.35%
14.9%
2.78%
10.30%
3.51%
(1.80%)
Jul 11 - Sep 11
30 Apr 16
2.06%
1.08%
6.62%
2.52%
4.90%
4.25%
(3.50%)
Dec 15 - Feb 16
20 May 16
1.35%
14.06%
3.36%
-10.8%
-6.76%
-3.87%
9.33%
3.13%
8.62%
(28.08%)
Jun 12 - Mar 15
30 Apr 16
2.10%
(7.65%)
-0.57%
5.41%
12.13%
25.85%
2.09%
10.42%
6.68%
(17.05%)
Jul 15 - Feb 16
17 May 16
0.25%
(0.38%)
6.14%
10.31%
18.04%
16.46%
11.38%
3.09%
(2.24%)
Dec 15 - Feb 16
30 Apr 16
0.57%
(3.83%)
6.06%
15.17%
20.05%
5.33%
11.67%
3.75%
(4.65%)
Sep 15 - Mar 16
13 May 16
0.18%
(2.94%)
-1.82%
3.94%
10.57%
12.73%
-0.81%
11.68%
6.97%
(10.77%)
Jun 08 - Nov 08
30 Apr 16
2.88%
15.21%
-6.17%
9.15%
15.14%
28.54%
-15.05%
8.06%
13.40%
(18.02%)
Mar 11 - Sep 11

Source - HSBC
17
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Credit/USA
400 CAPITAL CREDIT
OPPORTUNITIES
Chris Hentemann
31 Jan 09
BEACH POINT TOTAL RETURN

OFFSHORE FUND II, LTD
Carl Goldsmith, Scott Klein,
30 Jun 96
BRIGADE LEVERAGED CAPITAL

STRUCTURES FUND LTD
Don Morgan
31 Dec 06
COASTLAND DIRECT YIELD FUND 31 Aug 14

Coastland Capital, Peter Sterling
MARINUS OPPORTUNITIES FUND

Najib Canaan
31 Mar 12
MIDOCEAN ABSOLUTE RETURN

CREDIT FUND
MidOcean Credit Fund Management
LP
31 Jan 10
MIDOCEAN CREDIT OPPORTUNITY 31 Mar 09

FUND CLASS B
MidOcean Credit Fund Management
LP
OCTAGON HIGH INCOME FUND

Andrew D. Gordon
31 Jan 11
TILDEN PARK OFFSHORE

INVESTMENT FUND LTD
Josh Birnbaum
31 Dec 10
WYETREE YIELD DISTRIBUTION

FUND (WYDF)
30 Nov 12
$1'073M
Apr 16
262.37
$2'000M
Mar 16
633.80
$2'300M
Apr 16
156.24
$80M
Apr 16
112.59
$345M
Apr 16
124.63
$318M
Jan 16
149.47
$742M
Jan 16
224.49
$114M
Mar 16
135.33
$3'482M
May 16
209.94
$69M
Apr 16
113.79
30 Apr 16
MTD
YTD
2015
Ytd Avg. 2016

1.23%
1.36%
(7.23%)
-0.42%
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
12.35%
15.24%
34.21%
3.07%
14.23%
6.32%
Max
Drawdown1
(11.54%)
Jun 15 - Mar 16
30 Apr 16
2.04%
3.62%
-2.08%
-0.67%
12.61%
13.86%
-0.98%
9.75%
7.92%
(24.04%)
Oct 07 - Dec 08
20 May 16
1.23%
10.52%
-11.11%
0.22%
5.96%
6.7%
2.44%
4.87%
6.80%
(19.42%)
Jun 08 - Dec 08
31 Mar 16
0.33%
0.82%
10.2%
1.34%
7.78%
1.17%
(0.12%)
Aug 14 - Sep 14
30 Apr 16
1.12%
0.73%
1.37%
3.08%
6.11%
11.59%
5.54%
2.52%
(2.27%)
May 15 - Feb 16
30 Apr 16
0.41%
0.97%
4.34%
0.33%
7.66%
10.87%
9.99%
6.64%
3.78%
(5.37%)
Jun 14 - Jan 15
30 Apr 16
1.67%
0.41%
2.26%
0.98%
10.07%
10.78%
7.46%
12.09%
6.17%
(4.96%)
Aug 14 - Feb 16
30 Apr 16
2.87%
4.80%
-0.92%
0.94%
9.04%
19.9%
-1.24%
5.93%
6.98%
(10.79%)
Jul 11 - Aug 11
30 Apr 16
1.11%
(3.10%)
1.31%
14.06%
20.51%
41.34%
10.07%
14.92%
5.62%
(5.77%)
May 15 - Mar 16
30 Apr 16
1.90%
0.73%
-0.42%
7.78%
5.46%
-0.2%
3.85%
3.72%
(6.24%)
May 15 - Feb 16
Fixed Income
Ytd Avg. 2016
(0.89%)
Fixed Income/Global
KLS DIVERSIFIED FUND LTD
31 Jul 08
Jeff Kronthal ; Harry Lengsfield ; John
Steinhardt
$830M
Apr 16
159.02
30 Apr 16
Ytd Avg. 2016

(0.89%)
2.41%
(0.89%)
-2.4%
6.76%
1.58%
7.35%
4.85%
6.17%
3.89%
(10.06%)
May 15 - Feb 16

Source - HSBC
18
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
14.22%
9.75%
13.06%
-0.49%
6.66%
4.84%
Max
Drawdown1
Distressed Security
Ytd Avg. 2016
1.80%
Distressed Security/Global
BLUEBAY EVENT DRIVEN CREDIT
FUND
BlueBay Asset Management LLP Anthony Robertson
30 Nov 09
CANDLEWOOD SPECIAL
SITUATIONS FUND LTD
Michael Lau and David Koenig
30 Apr 03
CANYON VALUE REALIZATION FD, 31 Dec 94

LTD - CLASS A
M.R. Julis & J.S. Friedman
CERBERUS INTL. LTD CLASS A A/C 31 May 93

191
Steve Feinberg
CONTRARIAN CAPITAL FUND I

OFFSHORE LTD
Jon Bauer
30 Sep 86
DAVIDSON KEMPNER DIST. OPP. 31 Mar 05

INT. LTD - CLASS A TRN 1
Anthony A. Yoseloff, Avi Z. Friedman
and Conor Bastable
MONARCH DEBT RECOVERY

FUND LTD
Michael Weinstock, Andrew
Herenstein
31 Mar 02
MUDRICK DISTRESSED
OPPORTUNITY FUND LTD
Jason Mudrick
30 Jun 09
OCP DEBT OPPORTUNITY

INTERNATIONAL LTD
Onex Credit Partners
30 Jun 01
OWS CREDIT OPPORTUNITY FUND 31 Dec 10

OWS Capital Management
Q/Y
PSAM REBOUND PORTFOLIO

28 Feb 03
FUND LTD
P.Schoenfeld Asset Management LLC
138M
Jan 16
151.77
$840M
Jan 16
670.33
$5'874M
Mar 16
7,731.10
20 May 16
Ytd Avg. 2016

1.70%
0.28%
(0.38%)
-0.66%
(7.96%)
Jul 15 - Feb 16
29 Feb 16 (3.60%)
(5.91%)
-14.25%
5.68%
12.53%
14.78%
3.88%
15.97%
11.02%
(28.11%)
May 08 - Nov 08
30 Apr 16
1.89%
1.58%
-2.72%
4.32%
15.65%
18.05%
-4.66%
10.06%
8.15%
(28.82%)
Oct 07 - Nov 08
$507M 1,018,817.43 30 Apr 16 (0.60%)

Apr 16
$1'918M
Apr 16
2,438.53
$1'085M
Apr 16
262.31
$1'575M
Mar 16
3,710.23
$1'200M
May 16
160.25
$250M
Mar 16
250.92
$611M
May 16
1,544.56
$2'000M
Apr 16
231.29
30 Apr 16
4.07%
(0.95%)
-4.96%
23.09%
14.1%
12.05%
9.6%
10.65%
6.39%
(22.26%)
May 08 - Feb 09
1.68%
-7.89%
0.46%
17.01%
24.31%
-1.32%
11.39%
9.46%
(33.22%)
Jun 07 - Feb 09
30 Apr 16
3.72%
4.69%
-6.17%
3.5%
21.95%
13.51%
-2.45%
9.08%
9.46%
(26.27%)
Oct 07 - Nov 08
30 Apr 16
0.51%
(2.31%)
-2.73%
1.37%
18.36%
11.57%
-0.46%
9.75%
7.52%
(32.31%)
Oct 07 - Dec 08
20 May 16
4.70%
15.10%
-25.71%
15.7%
7.73%
21.85%
-3.72%
7.08%
9.43%
(31.42%)
Aug 14 - Jan 16
31 Mar 16
3.51%
0.79%
-10.48%
0.47%
9.93%
9.21%
-1.39%
6.43%
6.40%
(24.14%)
Jun 07 - Dec 08
30 Apr 16
1.10%
(0.21%)
1.8%
12.3%
12.47%
23.41%
-2.46%
8.49%
4.73%
(7.86%)
Apr 11 - Oct 11
30 Apr 16
1.05%
(2.19%)
-9.49%
-1.16%
12.61%
14.01%
1.55%
6.57%
8.13%
(32.91%)
Jul 07 - Mar 09

Source - HSBC
19
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Distressed Security/Global
SOUND POINT BEACON
OFFSHORE FUND, LTD
Stephen Ketchum
30 Nov 13
STRATEGIC VALUE
RESTRUCTURING FUND
Victor Khosla
31 Aug 02
VR GLOBAL OFFSHORE FUND LTD 30 Apr 99

Richard Deitz
HY
Q/Y
$353M
Apr 16
126.63
$1'100M
Mar 16
343.95
$2'118M
Apr 16
30 Apr 16
30 Nov 05
REDWOOD OFFSHORE FUND

Jonathan Kolatch
31 Jul 00
$892M
Mar 16
$2'332M
Mar 16
YTD
2015
Ytd Avg. 2016

1.70%
2.40%
(0.15%)
0.57%
2014
2013
18.36%
6.54%
2012
2011
Ann.
Return
Ann.
Volatility
10.26%
7.51%
Max
Drawdown1
(8.26%)
May 15 - Jan 16
20 May 16
0.15%
6.14%
-5.2%
1.7%
16.17%
13.18%
-11.03%
9.42%
7.52%
(24.47%)
May 07 - Jan 09
43,445.85 30 Apr 16
5.02%
5.89%
14.49%
-0.4%
32.33%
20.69%
3.58%
24.82%
14.59%
(48.38%)
May 08 - Mar 09
Distressed Security/USA
HALCYON OFF. ASSET-BACKED
VALUE FUND LTD
Joseph Wolnick ,Joseph Godley and
Jim Coppola
MTD
3,049.05 13 May 16
Ytd Avg. 2016

2.53%
0.41%
2.40%
2.14%
6.74%
6.66%
16.14%
4.12%
11.25%
5.04%
(13.32%)
Aug 08 - Mar 09
718.56
30 Apr 16
3.20%
2.66%
-2.95%
1.59%
17.62%
21.94%
-1.98%
13.33%
10.41%
(36.28%)
May 07 - Dec 08

Source - HSBC
20
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(8.03%)
3.10%
(8.03%)
0.97%
3.87%
23.3%
-7.73%
5.24%
9.38%
8.32%
Max
Drawdown1
Equity-Commodity
Ytd Avg. 2016
(8.03%)
Equity-Commodity/Global
OCEANIC HEDGE FUND - CLASS A
Cato Brahde, Andreas Vergottis,
Bjorn Rise
31 Jul 02
$335M
Feb 16
3,448.56 20 May 16
(13.37%)
Jul 15 - Mar 16
Equity-Diversified
Ytd Avg. 2016
(3.89%)
Equity-Diversified/Asia
George Jiang,
30 Jun 04
LIGHTHORSE CHINA GROWTH

FUND LTD
Shawn Kang
31 Dec 05

Fuyuki Fujiwara
31 Jul 05
OCTAGON PAN ASIA FUND

Poh Min Lam & Nelson Chia
30 Sep 04
PINPOINT CHINA FUND CLASS A

USD
Qiang Wang
31 May 05
QUAM CHINA FOCUS

SEGREGATED PORTFOLIO
Chris Choy
30 Jun 05
REAL RETURN ASIAN FUND LTD

(THE)
Ezra Sun
30 Sep 04

Garret Mallal
30 Apr 15
TELLIGENT GREATER CHINA

FUND
Ching-Shan Lin
31 Jul 04
WF ASIA FUND LTD S/1

Scobie Ward
31 Jan 01
ZEAL CHINA FUND LTD - USD -NI

Daniel POON Chun Pong
31 Dec 09
M
M
Q
M
M
M
M
M
M
$1'731M
Feb 16
179.70
$110M
Aug 15
383.56
$196M
Feb 16
239.11
$21M
Feb 16
211.63
$618M
Apr 16
938.20
$127M
Apr 16
385.01
$234M
Mar 16
275.67
$81M
Apr 16
116.19
$256M
Apr 16
329.23
$546M
Apr 16
475.82
$217M
Apr 16
162.97
Ytd Avg. 2016

(5.40%)
20 May 16 (7.37%) (16.25%)
21.94%
30.02%
17.48%
26.91%
-3.9%
24.79%
24.43%
(64.64%)
Oct 07 - Nov 08
29 Apr 16
0.01%
(4.16%)
8.66%
-0.51%
15.85%
-14.51%
-12.64%
13.89%
19.42%
(41.06%)
Feb 08 - Dec 08
20 May 16 (2.93%)
(14.62%)
3.83%
16%
27.39%
-6.58%
-5.09%
8.40%
12.16%
(25.06%)
Oct 07 - Feb 09
30 Apr 16
1.20%
0.12%
1.33%
-4.44%
4.6%
11.8%
-6.07%
6.68%
8.25%
(10.69%)
Oct 07 - Jan 09
13 May 16 (0.80%)
(3.66%)
11.75%
17.46%
9.26%
8.06%
0.6%
22.66%
19.13%
(42.16%)
Oct 07 - Nov 08
20 May 16 (7.01%)
(13.55%)
4.45%
-8.2%
61.8%
16.99%
-22.17%
13.31%
25.21%
(45.67%)
May 15 - Jan 16
20 May 16
5.94%
(7.85%)
1.25%
4.33%
13.35%
9.02%
-9.19%
9.10%
10.17%
(23.36%)
May 15 - Apr 16
20 May 16
4.85%
10.67%
5%
15.25%
13.35%
(5.73%)
Aug 15 - Jan 16
30 Apr 16 (0.86%)
(8.86%)
0.63%
-6.27%
28.57%
10.76%
-17.35%
10.67%
18.32%
(46.90%)
Oct 07 - Oct 08
20 May 16
2.46%
(2.73%)
15.28%
5.71%
11.72%
27.68%
-7.21%
10.73%
12.54%
(37.65%)
Oct 07 - Nov 08
20 May 16 (1.36%)
1.52%
7.28%
0.92%
5.55%
12.89%
6.19%
7.94%
14.82%
(20.74%)
May 15 - Aug 15

Source - HSBC
21
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Equity-Diversified/Australian
L1 Capital PTY Ltd
31 Aug 14
$108M
Mar 16
Equity-Diversified/Brazil
BNY MELLON ARX BRAZIL FUND
SPC LONG SHORT
Bruno Garcia, Frederico Saraiva &
Rogerio Poppe
31 Jan 07
$23M
Mar 16
193.99
31 Dec 11
DUET EM FRONTIER FUND

Hedi Ben Mlouka
31 Dec 12

Harvey Sawikin & Ian Hague
30 Apr 97
JABCAP EMEA FUND CLASS X1

Carl Tohme
30 Sep 08
OCCO EASTERN EUROPEAN FUND 31 Dec 01

A SHARES
Andrew Wiles
SAGIL LATIN AMERICAN
OPPORTUNITIES FUND CLASS A
Adrian Landgrebe and Brad Jones
30 Jun 09
SR GLOBAL FUND (Class N)

Emerging Market Equity
Ed Butchart and CJ Morrell
31 Dec 12
M
Q
M
Q/Y
30 Sep 97
ADRIGO HEDGE
Gran Torne
30 Nov 06
ANTARES EUROPEAN FUND, LTD - 08 Dec 98

USD
Peter Miles Testa, Luca Orsini Baroni
Q
M
M
2015
Ytd Avg. 2016

15.03%
2.46%
15.03%
60.52%
Ytd Avg. 2016

6.61%
1,733.46 23 May 16 (1.62%)
6.61%
-11.34%
2014
2013
2012
2011
5.07%
Ann.
Return
Ann.
Volatility
48.85%
10.52%
Max
Drawdown1
(2.42%)
5.1%
5.22%
11.04%
3.56%
6.08%
8.64%
(23.95%)
Jun 08 - Oct 08
$80M
Apr 16
95.82
$200M
Feb 16
131.79
$136M
Apr 16
848.81
$211M
Apr 16
239.47
$442M
Apr 16
422.06
$90M
Apr 16
153.90
$70M
Feb 16
115.20
Ytd Avg. 2016

0.95%
30 Apr 16 (1.04%) (10.35%)
-3.37%
12.24%
11.49%
9.92%
4.13%
10.07%
(19.58%)
May 15 - Feb 16
19 May 16 (0.56%)
(0.38%)
2.15%
12.92%
14.7%
8.50%
12.73%
(14.92%)
Jul 15 - Feb 16
20 May 16 (0.58%)
7.73%
-11.65%
-22.64%
24.2%
13.26%
-19.42%
11.87%
29.03%
(73.20%)
Sep 97 - Jan 99
13 May 16 (1.20%)
(0.40%)
-0.08%
7.15%
9.23%
6.94%
-3.2%
12.13%
9.42%
(10.02%)
Apr 11 - May 12
20 May 16
1.87%
4.16%
5.04%
-2.56%
11.63%
7.73%
5.42%
11.42%
7.32%
(20.86%)
Jun 08 - Oct 08
30 Apr 16
6.40%
8.81%
-2.37%
6.71%
7.91%
14.48%
-9.05%
6.51%
8.97%
(15.40%)
Jun 14 - Aug 15
20 May 16 (1.91%)
(2.91%)
3.32%
3.68%
10.76%
4.27%
10.49%
(14.61%)
May 15 - Feb 16
Equity-Diversified/Europe
ADELPHI EUR. FUND $ (A)
Roderick Jack, Marcel Jongen
YTD
Aug 14 - Sep 14
Equity-Diversified/Emerging
APERIOS EMERGING
CONNECTIVITY MASTER FUND
LTD
Aperios Partners Investment
Management LLP
30 Apr 16
MTD
$1'940M
Aug 15
493.50
$245M
Feb 16
174.08
$252M
Apr 16
621.84
20 May 16
Ytd Avg. 2016

(5.09%)
4.12%
(7.20%)
2.84%
9.35%
17.28%
14.08%
-4.91%
8.94%
11.52%
(26.28%)
May 07 - Feb 09
30 Apr 16 (0.15%)
(0.19%)
4.58%
4.32%
12.83%
5.91%
-0.17%
6.06%
4.90%
(9.13%)
May 07 - Oct 08
20 May 16
3.52%
(8.77%)
17.71%
5.5%
28.79%
1.7%
-10.75%
11.03%
14.60%
(32.68%)
Jun 07 - Dec 08

Source - HSBC
22
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
AQUILUS INFLECTION FUND LTD
EUR SHS
Richard Vogel
31 Jul 07

Michael Sakkas and Sushil Shah
30 Sep 10
CAPEVIEW AZRI FUND

Michael Sakkas and Sushil Shah
31 Oct 07
COVALIS CAPITAL CLASS B

Zach Mecelis
31 Dec 12
GIM PORTFOLIO STRATEGIES

Europe Dynamic L/S Fund A10-03
Jonathan Ingram, John Baker, Anis
Lahlou-Abid
30 Sep 03
M
M
M
M
GLG EUROPEAN LONG SHORT

30 Sep 00
FUND Class D EUR Unres
Pierre Lagrange, Simon Savage, Neil
Mason
GRANADA EUROPE FUND LTD

Swiss Hedge Capital AG, Andreas
Zehnder
31 Aug 04
LANSDOWNE EUROPEAN EQUITY 31 Aug 98

FD, LTD - A (EUR)
David Craigen
LC EQUITY FUND LTD

Limmat Capital Alternative
Investments AG
30 Sep 05
LEGG MASON MARTIN CURRIE

31 Aug 10
EUROP ABS ALPHA FUND Class M
(PF) Distr. (A) EUR
Michael Browne and Steve Frost

Pieter Taselaar, Thijs Hovers
31 Dec 01
MADRAGUE EQUITY LONG SHORT 31 Jan 12

Madrague Capital Partners
MARSHALL WACE - EUROPA FUND 31 Oct 06

A USD
Ernesto Fragomeni
481M
May 16
135.44
$320M
Feb 16
173.74
$1'440M
Apr 16
179.36
$291M
Mar 16
136.60
341M
Apr 16
426.24
$354M
Mar 16
331.23
CHF61M
Apr 16
1,576.58
$486M
Apr 16
225.09
CHF73M
Apr 16
289.73
257M
Mar 16
13.36
$300M
Apr 16
440.92
106M
Apr 16
136.84
$122M
May 16
152.86
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(5.09%)
20 May 16 (0.90%)
(3.74%)
3.12%
7.37%
14.59%
18.73%
-14.14%
3.50%
8.74%
Max
Drawdown1
(22.46%)
Oct 07 - Oct 08
20 May 16 (0.14%)
(16.73%)
21.64%
9.86%
24.8%
12.65%
4.31%
10.29%
8.06%
(16.97%)
Nov 15 - May 16
20 May 16 (0.10%)
(8.51%)
9.84%
4.6%
11.51%
5.82%
1.29%
7.06%
4.09%
(8.67%)
Nov 15 - May 16
30 Apr 16
1.25%
6.78%
8.67%
3.69%
14.99%
-1.27%
10.23%
4.29%
(2.45%)
Feb 14 - Jun 14
20 May 16
0.94%
(7.65%)
7.63%
1.1%
15.93%
-4.72%
10.2%
12.15%
8.48%
(16.39%)
Jun 08 - Nov 09
20 May 16
0.27%
(2.45%)
7.62%
-5.24%
7.09%
5.75%
7%
7.95%
7.76%
(17.94%)
Oct 07 - Oct 08
30 Apr 16
0.27%
1.46%
0.61%
2.12%
-3.57%
-8.93%
4.9%
3.98%
4.68%
(13.54%)
Sep 11 - Dec 13
29 Apr 16 (0.01%)
(14.62%)
28.24%
-4.32%
21.51%
4.56%
-12.68%
8.75%
11.80%
(21.60%)
May 08 - Feb 09
30 Apr 16
0.49%
1.11%
2.09%
2.7%
5.27%
2.04%
0.83%
10.57%
5.75%
(5.29%)
Jun 11 - Aug 11
25 May 16
2.22%
(4.43%)
6.31%
1.54%
20.02%
14.91%
-8.75%
5.18%
6.58%
(9.23%)
Dec 10 - Sep 11
30 Apr 16 (3.89%)
(16.05%)
17.14%
10.8%
29.19%
26.9%
-19.85%
12.26%
20.15%
(60.03%)
May 07 - Feb 09
30 Apr 16
2.22%
1.51%
6.52%
-5.68%
30.08%
3.16%
7.66%
8.93%
(9.12%)
Jan 12 - Jun 12
24 May 16
1.13%
(5.46%)
9.61%
3.96%
7.44%
8.72%
5.65%
4.53%
8.16%
(26.47%)
Jun 07 - Sep 08

Source - HSBC
23
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MARSHALL WACE - MW TOPS
FUND
Anthony Clake
31 Dec 04
MLIS - THEOREMA EUROPEAN

31 May 10
EQUITY LONG SHORT UCITS FUND
- EUR B (acc)
Theorema Asset Management Limited
MOJNA ALPHA LEVERAGED

MASTER FUND - EUR NNI
Jakob Nordestedt, Michael OMara
30 Nov 07
NORDIC ALPHA CLASS B - NOK

Thomas Raaschou, Christian T.
Nygaard
31 Dec 12

Crispin Odey
31 May 92
PELHAM LONG/SHORT FUND LTD

CLASS A EUR
Ross Turner
31 Oct 07
PENSATO EUROPA FUND LTD

EURO CLASS
Graham Clapp & Edward Rumble
31 May 08
POLAR CAPITAL EUROPEAN

CONVICTION FUND LIMITED
Robert Gurner & Andrew Marsh
31 Mar 06
RBR EUROPEAN LONG SHORT

LTD (Ex Rhine Alpha Stars)
Rudolf Bohli
30 Apr 05
RWC SAMSARA FUND CLASS A

EURO
Ajay Gambhir
17 Sep 07
W
M
SIERRA EUROPE OFFSHORE, LTD 28 Feb 97

- CLASS C USD
Charles Michaels
SUSA EUROPEAN EQUITIES FUND 28 Feb 09

CLASS A NIE EUR
Reza Amiri
TRIAS L/S FUND

Entrepreneur Partners AG / Kilian
Kentrup
30 Apr 12
$531M
May 16
241.33
66M
Oct 15
110.90
$90M
Apr 16
167.79
NOK479M
Apr 16
155.17
730M
Mar 16
603.15
3'613M
Apr 16
214.43
99M
Apr 16
147.91
18M
Dec 15
144.54
CHF105M
Mar 16
24 May 16
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(5.09%)
0.84%
0.94%
9.98%
6.72%
16.17%
11.31%
4.29%
8.03%
7.19%
Max
Drawdown1
(21.75%)
Oct 07 - Feb 09
24 May 16
1.25%
(4.86%)
6.21%
-5.61%
7.94%
4.37%
-0.27%
1.74%
7.12%
(12.02%)
Sep 11 - Jul 12
20 May 16 (2.10%)
(2.61%)
7.31%
-5.72%
14.82%
-4.33%
5.58%
6.30%
6.33%
(11.33%)
Dec 13 - Aug 14
24 May 16
1.35%
(1.99%)
8.84%
15.85%
24.67%
13.57%
6.64%
(5.18%)
Dec 15 - Jan 16
20 May 16
6.02%
(27.95%)
-12.82%
5.48%
25.76%
30.69%
-20.56%
10.84%
17.88%
(50.64%)
Jan 94 - Jul 95
30 Apr 16 (0.87%)
(2.48%)
14.57%
2.58%
32.52%
16.89%
-10.68%
9.38%
11.11%
(12.25%)
May 08 - Dec 08
30 Apr 16 (0.34%)
(5.24%)
23.68%
-4.99%
1.99%
11.22%
-0.28%
5.06%
6.31%
(8.88%)
May 13 - Apr 14
20 May 16
0.76%
(0.08%)
-12.2%
2.97%
1.9%
8.07%
6.45%
3.70%
8.26%
(15.17%)
Dec 14 - Oct 15
2,937.80 13 May 16
2.60%
(8.21%)
4.25%
13.94%
20.33%
29.45%
-11.71%
10.25%
18.40%
(55.01%)
Jun 07 - Nov 08
53M
Apr 16
135.16
$42M
Apr 16
530.45
$432M
Apr 16
182.32
97M
Apr 16
189.27
20 May 16 (0.55%)
(6.13%)
-1.22%
3.63%
17.47%
2.95%
-0.84%
3.53%
7.33%
(11.67%)
Apr 15 - May 16
20 May 16
1.61%
(3.52%)
7.61%
-1.76%
4.48%
11.82%
4.88%
9.06%
8.67%
(16.98%)
Mar 00 - Jan 03
20 May 16
3.80%
(1.34%)
10.67%
-4.8%
17.78%
15.22%
-10.33%
8.66%
11.05%
(16.04%)
May 11 - Sep 11
24 May 16
3.06%
(3.30%)
22.56%
11.08%
33.7%
7.53%
16.98%
12.53%
(10.72%)
May 14 - Oct 14

Source - HSBC
24
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Vikram Kumar
30 Jun 13
TT MID-CAP EUROPE
LONG/SHORT FUND LTD - CL B
David Grimbley
30 Apr 05
ZADIG FUND CLASS A1

Laurent Saglio
30 Nov 05
M
M
$483M
May 16
131.22
$548M
Apr 16
324.09
163M
Sep 15
240.75
30 Nov 05
ANAVON MASTER FUND LTD

CLASS -BAvi Fruchter and Avraham Mevorah
31 Dec 10
M
M
ATLAS FUNDAMENTAL TRADING

30 Jun 08
FUND LTD
Dmitry Balyasny, Managing Partner &
CIO
BLUEMOUNTAIN LONG SHORT

EQUITY FUND L.P.
LLC
30 Jun 11
DUET GLOBAL PLUS FUND

Jason McNab
31 Jul 10
ECOFIN VISTA LONG SHORT FUND 30 Nov 12

Matthew Breidert
EXANE TEMPLIERS FUND

Jean-Francois Roussel, Stphane
Arrouays, Henri-Daniel Samama,
Exane Asset Management
28 Feb 06
FARRINGDON ALPHA ONE

31 Dec 06
Bram Cornelisse, Andreas Tholstrup,
Dennis van Wees
GLADE BROOK GLOBAL

OFFSHORE FUND LTD CLASS-ANRPaul Hudson
30 Sep 11
HABROK LTD
Rahul Khanna
31 Mar 04
2015
Ytd Avg. 2016

(5.09%)
30 Apr 16 (2.15%)
(4.98%)
26.81%
2014
2013
-2.65%
11.87%
2012
2011
Ann.
Return
Ann.
Volatility
10.05%
9.81%
Max
Drawdown1
(5.74%)
30 Apr 16
1.14%
(0.57%)
14.66%
2.64%
14.43%
6.9%
-1.72%
11.27%
8.31%
(7.41%)
20 May 16
0.36%
(5.53%)
19.06%
-6.33%
8.9%
11.02%
3.56%
8.75%
10.77%
(19.14%)
Aug 08 - Oct 08
298.17
$66M
Apr 16
131.07
Ytd Avg. 2016

(5.05%)
20 May 16 (6.00%)
(1.50%)
58.52%
-9.85%
4.75%
0.95%
16.27%
10.99%
11.03%
(16.84%)
Oct 13 - Oct 14
30 Apr 16 (1.50%)
(4.96%)
-2.07%
6.66%
11.45%
12.62%
5.19%
5.20%
8.15%
(11.31%)
May 15 - Jan 16
1,488.88 20 May 16 (0.93%)
1.58%
4.86%
12.64%
8.54%
-3.47%
7.52%
5.17%
8.23%
(13.57%)
Sep 11 - Jun 13
$882M
Mar 16
147.66
$1'500M
Mar 16
125.46
$92M
Apr 16
106.77
144M
Apr 15
YTD
Apr 06 - Sep 06
$207M
Feb 16
$239M
Mar 16
MTD
Feb 14 - Jul 14
Equity-Diversified/Global
Harald James Otterhaug
Date
20 May 16
2.51%
(3.31%)
2.83%
19.48%
19.48%
3.66%
0.34%
8.29%
6.79%
(12.86%)
Jul 15 - Apr 16
30 Apr 16
0.05%
(0.19%)
0.84%
-0.38%
3.95%
11.05%
8.05%
5.05%
2.97%
(2.56%)
Feb 14 - May 14
30 Apr 16
0.85%
(6.97%)
7.61%
-0.21%
7.14%
-0.24%
1.94%
8.35%
(14.23%)
May 15 - Mar 16
17,286.49 24 May 16
0.20%
(0.61%)
0.23%
-1.64%
1.85%
0.77%
0.49%
3.97%
3.03%
(3.81%)
Dec 13 - Jan 16
$480M
Apr 16
197.36
$284M
May 16
1,261.44
$73M
Apr 16
283.17
24 May 16 (5.03%)
(7.06%)
11.35%
6.78%
10.56%
19.44%
-12.63%
7.50%
11.03%
(16.50%)
May 08 - Oct 08
30 Apr 16 (0.30%)
(10.48%)
13.12%
-1.36%
19.76%
13.1%
-6.77%
5.19%
9.53%
(10.75%)
Dec 15 - Feb 16
30 Apr 16
0.03%
(7.80%)
0.84%
7%
13.13%
6.27%
-14.36%
8.99%
14.71%
(37.31%)
May 08 - Jan 09

Source - HSBC
25
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Russell Clark & Bobby Turnbull
31 Jan 01
KINSALE COMPASS FUND

Peter A Kinney
31 Oct 11
M
M
LANSDOWNE DEVELOPED
31 Jul 01
MARKET FUND, LTD (GBP) NNI
Peter Davies, Stuart Roden, Jonathon
Regis
LAZARD GLOBAL HEXAGON FUND 31 May 10

Jean-Daniel Malan

John Segrich
31 Jul 13
M. KINGDON OFFSHORE NV - A/1

Mark Kingdon
28 Feb 86
MARSHALL WACE - MW EUREKA

A1 EUR
Paul Marshall
07 Jan 98
MARSHALL WACE - MW GLOBAL

OPPORTUNITIES A USD
Fehim Sever
28 Feb 09
Q
M
MAVERICK FUND, LTD - CLASS A/1 28 Feb 95

Lee Ainslie III
MS ASCEND UCITS FUND CLASS I

EUR
Malcolm Fairbairn
30 Apr 11
PARUS FUND PLC USD CLASS

Parus Finance, Fabrice Vecchioli
31 Dec 02 Bi-weekly
PASSPORT GLOBAL STRATEGY

FUND
John Burbank
31 Jul 00
PASSPORT LONG SHORT

STRATEGY FUND
John Burbank, Tim Garry
30 Jun 10
PASSPORT SPECIAL
30 Apr 08
OPPORTUNITIES FUND LTD CLASS
AA
John Burbank
HY
$1'016M
Apr 16
690.40
$250M
Apr 16
161.67
$10'592M
Apr 16
713.35
$326M
Feb 16
119.88
$93M
Mar 16
95.08
$1'661M
Apr 16
161.38
$8'076M
May 16
462.92
$1'073M
May 16
254.04
25 May 16
MTD
YTD
2015
Ytd Avg. 2016

(5.05%)
2.15%
(3.13%)
20.42%
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
12.63%
19.15%
16.28%
-2.98%
13.44%
16.34%
Max
Drawdown1
(33.75%)
Feb 09 - Jun 10
30 Apr 16
1.86%
1.16%
9.04%
6.56%
15.74%
16.75%
1.79%
11.26%
5.52%
(4.87%)
May 15 - Jan 16
20 May 16
3.92%
(9.47%)
16.84%
11.49%
33.26%
17.87%
-20.07%
14.18%
10.80%
(20.07%)
Dec 10 - Dec 11
20 May 16 (0.63%)
(3.98%)
1.28%
-2.22%
8.97%
13.27%
-1.94%
2.91%
4.99%
(8.43%)
Apr 15 - Feb 16
31 Mar 16 (2.10%)
(20.93%)
-1.47%
12.27%
8.69%
(1.88%)
16.98%
(31.55%)
May 15 - Mar 16
20 May 16
2.77%
(5.35%)
3.34%
8.23%
23.82%
11.78%
-18.03%
14.08%
12.60%
(30.15%)
Sep 87 - Oct 87
24 May 16
1.65%
(2.94%)
12.05%
8.44%
21.61%
7.45%
9.74%
12.73%
8.79%
(23.24%)
Oct 07 - Oct 08
24 May 16
3.37%
0.60%
6.38%
6.3%
13.37%
6.83%
27.16%
13.75%
9.34%
(7.61%)
Jan 15 - Apr 15
$2'000M
Jan 16
1,702.27 20 May 16
$230M
Dec 15
1,045.91 24 May 16
2.20%
0.67%
16.01%
8.51%
16.46%
15.46%
-14.85%
12.09%
11.22%
(30.04%)
May 08 - Nov 08
0.34%
(5.94%)
1.62%
5.11%
12.16%
-0.14%
-7.06%
0.89%
4.12%
(7.49%)
Jul 15 - Mar 16
$740M
Apr 16
521.60
$1'900M
Apr 16
1,033.04
$1'000M
Apr 16
141.37
$424M
Apr 16
228.78
20 May 16
3.02%
(8.48%)
12.48%
3.75%
26.37%
23.69%
-6%
15.63%
14.06%
(15.49%)
Apr 11 - Sep 11
30 Apr 16 (0.20%)
(7.70%)
10.19%
0.9%
23.02%
11.08%
-18.74%
15.97%
25.13%
(52.74%)
Jun 08 - Dec 08
30 Apr 16 (0.60%)
(3.12%)
10.12%
-6.24%
19.89%
12.13%
-7.19%
6.11%
8.11%
(10.06%)
Apr 11 - Dec 11
30 Apr 16 (4.90%)
(8.21%)
17.81%
9.94%
45.5%
-5.67%
-19.91%
10.89%
26.81%
(43.24%)
Jun 08 - Nov 08

Source - HSBC
26
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
PLATINUM FUND LTD
Kerr Neilson
31 May 94
RWC ASIA ABSOLUTE ALPHA

FUND -BPriya Kodeeswaran
31 Jan 10
SR GLOBAL FUND C INTERNATIONAL (Real Perf)

Hugh Sloane
31 Dec 93
SR GLOBAL FUND INC - G GLOBAL OPPORTUNITIES PTF

(Real Perf)
Richard Chenevix-Trench
29 Feb 96
SR PHOENICIA INC CLASS -ASERIES 1

Richard Atherton
31 Jul 01
STK CAPITAL GLOBAL EQUITIES

Daniel Grozdea
30 Nov 10
M
D
$390M
Apr 16
81.19
$19M
Apr 16
139.55
$530M
Feb 16
620.30
$390M
Feb 16
31 Dec 04
MARATHON VERTEX JAPAN FD,

LTD CLASS B
William Arah
31 May 03

Greg McEntyre
31 Oct 03
M
Q
SR GLOBAL FUND H - JAPAN (Real 30 Sep 03

Perf)
Hugh Sloane, Alex Kydd
UMJ KOTOSHIRO FUND

Masahiro Koshiba
31 Oct 08
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(5.05%)
20 May 16 (3.93%)
(4.86%)
-3.08%
-2.67%
21.76%
17.44%
-13.51%
9.99%
12.26%
25 May 16
1,298.49 20 May 16 (1.00%)
(30.48%)
(1.13%)
11.02%
0.29%
12.92%
6.59%
0.45%
5.42%
6.65%
(6.47%)
(11.00%)
4.95%
8.36%
36.28%
1.03%
-24.27%
11.41%
20.71%
(50.10%)
(6.54%)
0.92%
2.7%
18.09%
-0.88%
-17.2%
16.59%
17.34%
(37.25%)
Oct 07 - Feb 09
$98M
Apr 16
130.19
20 May 16 (1.98%)
(6.49%)
4.18%
4.63%
20.89%
8.13%
-20.97%
11.39%
17.34%
(56.02%)
Oct 07 - Feb 09
30 Apr 16 (0.93%)
(3.47%)
-1.98%
5.27%
16.09%
9.35%
-1.64%
4.99%
8.59%
(11.78%)
Feb 15 - Feb 16
190.96
Ytd Avg. 2016

(12.06%)
30 Apr 16 (3.55%)
(7.26%)
2.45%
5.88%
21.71%
-3.45%
-0.85%
5.87%
7.27%
(12.18%)
Mar 12 - Oct 12
2,634.00 20 May 16
0.33%
(10.72%)
15.58%
2.91%
23.38%
4.89%
0.59%
7.75%
8.61%
(12.09%)
Nov 15 - Feb 16
$309M
Apr 16
380.16
$110M
Feb 16
143.58
$280M
May 16
209.45
$70M
Mar 16
1.62%
20 May 16 (5.08%)
20 May 16
7.38%
(18.20%)
18.6%
10.82%
82.11%
44.54%
7.42%
11.22%
19.93%
(55.47%)
Jan 06 - Oct 10
20 May 16 (4.60%)
(21.96%)
0.97%
0.41%
62.51%
31.05%
-8.33%
3.16%
20.20%
(35.57%)
Mar 08 - Jul 10
30 Apr 16 (2.89%)
(2.15%)
5.72%
15.2%
32.05%
17.83%
12.2%
10.36%
8.11%
(9.48%)
Jul 09 - Sep 10
Equity-Diversified/Russia
FIREBIRD NEW RUSSIA FUND, LTD 30 Jun 96
- CLASS A
Harvey Sawikin & Ian Hague
Max
Drawdown1
Apr 08 - Aug 12
494.26
$465M
Feb 15
YTD
Feb 14 - Apr 14
$100M
Feb 16
$58M
Mar 16
MTD
Oct 07 - Feb 09
Equity-Diversified/Japan
AKAMATSU FUND
Philip Kay
Date
1,568.60 20 May 16
Ytd Avg. 2016

9.73%
0.16%
9.73%
-11.33%
-34.59%
4.08%
11.42%
-14.62%
14.83%
37.85%
(81.79%)
Mar 98 - Sep 98

Source - HSBC
27
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Equity-Diversified/UK
ALPHAGEN OCTANIS CLASS A
Ben Wallace & Luke Newman
28 Feb 05
BLACKROCK UK EQUITY HEDGE

FUND
Nigel Ridge & Imran Sattar
30 Apr 05
M
M
PEGASUS FUND LIMITED SHARES 31 Oct 97

A-1
Martin Hughes
THREADNEEDLE UK ABSOLUTE
ALPHA FUND
Chris Kinder & Mark Westwood
30 Sep 10
$6'925M
Mar 16
264.11
$640M
Apr 16
230.99
$140M
Jan 15
61.12
$970M
Oct 15
140.44
06 May 16
31 Jan 93
ALLIANCEBERNSTEIN SELECT US 30 Nov 99

EQUITY LONG SHORT
Kurt Feuerman
Q/Y
ASCEND PARTNERS FUND II LTD - 31 Jan 04

A
Malcolm Fairbairn
BAY RESOURCES PARTNERS

OFFSHORE FUND
Thomas Claugus
31 Jul 98
BCM WESTON LP (BILLINGS

CAPITAL MANAGEMENT)
Billings Capital Management LLC
31 Jan 08
COBALT OFFSHORE LTD

Wayne Cooperman
31 Dec 96
ELM RIDGE CAPITAL PARTNERS

L.P.
Ronald Gutfleish
31 Dec 99
FJ CAPITAL FINANCIAL
OPPORTUNITY FUND LTD
Martin Friedman
31 Dec 07
GLENVIEW CAPITAL PARTNERS

(CAYMAN), LTD.
Lawrence M. Robbins
31 Dec 00
Q
Q
$1'300M
Dec 15
$126M
Apr 16
$440M
Mar 16
$2'143M
Feb 16
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

2.76%
0.31%
(0.71%)
7.74%
4.01%
16.77%
3.87%
-0.47%
9.07%
5.78%
Max
Drawdown1
(10.72%)
May 07 - Mar 08
20 May 16
1.48%
0.97%
8.35%
6.93%
6.42%
4.27%
2.48%
7.86%
5.49%
(11.70%)
Jun 08 - Oct 08
13 May 16
0.21%
11.15%
-4.13%
-15.72%
63.74%
1.06%
-1.11%
10.30%
14.88%
(35.27%)
May 98 - Oct 98
25 May 16
1.31%
(0.36%)
7.19%
5.4%
10.7%
2.91%
4.22%
6.19%
3.72%
(3.17%)
Jun 11 - Sep 11
Equity-Diversified/USA
AJR INTERNATIONAL (BVI), INC. A/1
Alexander J. Roepers
MTD
1,061.58
30 Apr 16
Ytd Avg. 2016

(2.64%)
0.15%
1.75%
-7.15%
-6.92%
20.33%
3.85%
-6%
10.69%
18.75%
(44.44%)
May 08 - Dec 08
4,548.99 24 May 16
0.26%
0.30%
-0.78%
2.76%
16.27%
6.17%
0.81%
9.62%
7.13%
(9.98%)
May 08 - Feb 09
202.24
20 May 16
0.33%
(4.36%)
2.63%
4.75%
11.59%
3.48%
-2.86%
5.89%
4.21%
(5.23%)
Apr 11 - Dec 11
10,481.24 30 Apr 16
1.00%
(1.33%)
-1.62%
5.04%
22.23%
9.24%
-6.89%
14.14%
15.51%
(39.02%)
May 08 - Feb 09
$65M
Feb 16
260.46
$298M
Mar 16
751.61
$349M
Apr 16
420.06
$163M
Apr 16
271.69
$3'001M
Apr 16
535.57
30 Apr 16
4.26%
4.07%
4.37%
3.42%
50.32%
15.2%
-8.95%
12.30%
13.28%
(20.35%)
Jun 15 - Jan 16
30 Apr 16 (2.12%)
(5.55%)
-1.12%
4.92%
8.88%
4.49%
-0.66%
10.99%
7.88%
(19.53%)
Apr 98 - Sep 98
30 Apr 16 10.10%
14.16%
-29.96%
-1.31%
22.28%
-14.08%
0.7%
9.18%
13.91%
(37.41%)
Aug 14 - Feb 16
30 Apr 16
3.68%
(0.72%)
19.64%
9.76%
25.15%
25.9%
14.77%
12.74%
13.50%
(27.44%)
May 08 - Feb 09
30 Apr 16
2.59%
(9.88%)
-18.12%
14.44%
42.9%
24.24%
-10.95%
11.56%
16.57%
(49.17%)
May 07 - Dec 08

Source - HSBC
28
Inception Liquidity
Date
GREENLIGHT CAPITAL
OFFSHORE, LTD - A/1
David Einhorn
30 Sep 96
HINOKI FUND LP
Ellen Adams & Dan Sheridan
30 Jun 12
IVORY CAPITAL FLAGSHIP

STRATEGY
Curtis Macnguyen
30 Nov 98
IVORY OPTIMAL FUND LTD

Curtis Macnguyen
31 Dec 08
MARLIN FUND LP
Michael Masters
30 Jun 95
NEUBERGER BERMAN US LONG

SHORT EQUITY FUND
Neuberger Berman Group LLC
28 Feb 14
M
Q
Q
M
D
OKUMUS OPPORTUNISTIC VALUE 31 Dec 12

FUND, LTD CLASS A
Ahmet H. Okumus
HY
OMEGA OVERSEAS PARTNERS

LTD CLASS A
Leon Cooperman
31 Dec 91
RENAISSANCE INSTITUTIONAL
EQUITIES LP (B)
Renaissance Technologies LLC
31 Jul 05
RWC US ABSOLUTE ALPHA FUND - 30 Sep 09

CLASS B
Mike Corcell
SANDLER PLUS OFFSHORE FUND 30 Sep 05

LTD
Sandler Capital Mgmt, Andrew
Sandler
SEMINOLE OFFSHORE FUND

Michael G. Messner, Paul C.
Shiverick
31 May 98
ZWEIG-DIMENNA INTL LIMITED CLASS A

Joseph DiMenna
31 May 87
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
Ytd Avg. 2016

(2.64%)
$2'923M 139,535.27 30 Apr 16 (0.30%)
2.55%
-20.38%
Jan 16
$70M
Apr 16
$782M
Apr 16
$1'686M
Apr 16
$413M
Apr 16
132.48
(8.04%)
18.12%
2013
2012
2011
Ann.
Return
Ann.
Volatility
7.51%
18.76%
7.66%
1.86%
14.40%
10.94%
Max
Drawdown1
(27.17%)
May 08 - Oct 08
-4.9%
26.05%
1.73%
7.61%
9.94%
(12.58%)
Feb 14 - Apr 14
4,098.02 20 May 16 (0.46%)
(3.39%)
-4.91%
6.8%
17.07%
10.5%
-3.54%
8.40%
5.99%
(12.61%)
May 08 - Nov 08
189.12
20 May 16 (0.27%)
(5.22%)
-6.53%
11.31%
28.31%
16.41%
-4.37%
9.01%
8.45%
(15.01%)
May 15 - Feb 16
12,216.72 30 Apr 16 (2.14%)
(0.28%)
-8.43%
21.72%
77.47%
31.53%
-17.77%
25.92%
24.99%
(60.15%)
Oct 07 - Feb 09
$161M
May 16
10.27
$376M
Apr 16
148.76
$1'400M
Feb 16
793.62
$2'572M
Mar 16
273.91
$495M
Apr 16
134.72
$117M
Apr 16
305.66
$690M
Apr 16
736.85
$1'141M
Mar 16
30 Apr 16 (4.91%)
2014
25 May 16
0.69%
2.50%
-4.21%
4.61%
1.20%
6.89%
(8.39%)
Mar 15 - Jan 16
30 Apr 16
7.48%
(25.36%)
14.25%
29.71%
34.49%
12.66%
19.85%
(36.06%)
Jun 15 - Mar 16
31 Mar 16
4.81%
(5.62%)
-10.43%
-2.13%
30.02%
25.66%
-2.97%
8.91%
14.71%
(42.55%)
May 07 - Feb 09
20 May 16
0.63%
8.50%
16.53%
13.84%
16.78%
8.29%
34.12%
9.77%
10.50%
(35.73%)
May 07 - Apr 09
24 May 16
1.20%
(4.15%)
5.37%
5.45%
14.28%
16.32%
-2.24%
4.58%
6.08%
(9.19%)
Apr 10 - Dec 11
20 May 16
2.10%
(0.34%)
12.97%
5.68%
10.38%
5.62%
8.91%
11.07%
10.34%
(14.88%)
Dec 07 - Mar 09
20 May 16 (1.10%)
(2.04%)
-7.29%
11.04%
23.18%
5.08%
-0.7%
11.75%
12.05%
(15.62%)
May 02 - Mar 03
92,342.79 31 Mar 16 (2.83%)
(15.66%)
1.79%
4.64%
21.25%
-1.18%
-2.37%
13.23%
14.94%
(50.23%)
Feb 00 - Dec 02

Source - HSBC
29
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
-27.2%
29.76%
-6.43%
-1.27%
7.74%
25.77%
Max
Drawdown1
Equity-Energy
Ytd Avg. 2016
40.83%
Equity-Energy/USA
DORSET ENERGY FUND, LTD CLASS A
David M. Knott, Donald Textor
31 Oct 00
$120M
Jan 16
31.90
Ytd Avg. 2016

40.83%
20 May 16 (3.77%)
40.83%
-44.05%
(70.37%)
Jun 14 - Feb 16
Equity-Financial
Ytd Avg. 2016
(9.97%)
Equity-Financial/Global
Abaco Asset Management LLP
31 May 03
MARSHALL WACE - MW GLOBAL

FINANCIALS M/N A USD
Amit Rajpal
31 Oct 08
TOSCA CLASS A - USD

Johnny de la Hey
30 Sep 00
WELLINGTON MANAGEMENT INV

BERMUDA LTD BAY POND A/1 NI
Nicholas C. Adams, Partner
31 Dec 95
M
M
M
HY
381M
Apr 16
232.94
$97M
May 16
143.02
$697M
Apr 16
268.45
$4'064M
Apr 16
186.93
Ytd Avg. 2016

(9.97%)
30 Apr 16 (1.03%)
(1.21%)
10.15%
-11.47%
15.74%
4.84%
12.67%
6.76%
6.09%
(11.68%)
Nov 13 - Dec 14
24 May 16
0.87%
(5.98%)
10.31%
6.52%
5.76%
-0.75%
3.21%
4.84%
5.72%
(8.01%)
Nov 11 - Aug 12
30 Apr 16
1.19%
(12.00%)
14.57%
-6.79%
30.5%
24.94%
1.14%
6.54%
16.60%
(67.54%)
Dec 07 - Nov 08
30 Apr 16
3.40%
(20.68%)
8.16%
-1.68%
20.27%
20.41%
-12.53%
15.48%
16.88%
(63.22%)
Apr 98 - Mar 99
Equity-Healthcare
Ytd Avg. 2016
(13.59%)
Equity-Healthcare/Global
CCI HEALTHCARE PARTNERS LTD 31 Dec 00
Oliver Marti, CCI Healthcare Partners
CCI MICRO HEALTHCARE

31 Dec 12
PARTNERS LTD
JENOP GLOBAL HEALTHCARE

FUND LTD SERIES A
David Chan
31 Oct 12
MLIS - CCI HEALTHCARE LONG

31 Jan 10
SHORT UCITS FUND - B (acc) USD
$517M
Apr 16
304.19
$44M
Apr 16
175.23
$170M
Apr 16
11.99
$506M
Oct 15
125.22
30 Apr 16
Ytd Avg. 2016

(13.59%)
1.55%
(8.51%)
-7.25%
7.67%
26.54%
6.56%
3.99%
7.52%
8.89%
(20.58%)
Mar 15 - Mar 16
30 Apr 16
4.57%
(13.63%)
5.39%
20.54%
59.69%
18.34%
23.50%
(28.85%)
Jul 15 - Feb 16
10 May 16 (4.48%)
(20.17%)
-2.68%
21.95%
27.17%
-0.45%
5.29%
16.01%
(31.09%)
Jul 15 - May 16
24 May 16 (0.67%)
(9.31%)
-7.93%
7.41%
26.97%
5.51%
2.72%
3.63%
9.78%
(21.03%)
Mar 15 - Mar 16

Source - HSBC
30
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Equity-Healthcare/Global
VISIUM INSTITUTIONAL PARTNERS 31 May 10
FUND LTD
Jacob Gottlieb, Visium Asset
Management
$78M
Apr 16
113.93
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(13.59%)
20 May 16 (4.60%) (16.34%)
4.69%
2.11%
20.91%
5.73%
1.28%
2.21%
7.93%
Max
Drawdown1
(21.24%)
Jun 15 - May 16
Equity-Mid-Small Cap
Ytd Avg. 2016
(0.06%)
Equity-Mid-Small Cap/Europe
PELHAM LONG/SHORT SMALL CAP 31 Oct 14
FUND LTD
Ross Turner
POLAR CAPITAL EUROPEAN

FORAGER FUND LTD - AX
Robert Gurner & Andrew Marsh
31 Jul 03
425M
Apr 16
143.27
574M
Dec 15
306.13
31 Mar 16
$332M
Mar 16
20 May 16 (0.37%)
31 Oct 08

Charles A. Paquelet
31 Dec 85
HARVEY PARTNERS LLC

Jeff Moskowitz and Jim Schwartz
31 Jan 06
SENVEST PARTNERS, LTD CLASS A

Richard Mashaal
31 Mar 97
Q
M
Q
Q
TONGA PARTNERS LP
30 Jun 92
J. Carlo Cannell, Cannell Capital LLC
HY
TRISTAN PARTNERS LP
31 May 05
J. Carlo Cannell, Cannell Capital LLC
HY
28.90%
10.71%
(6.70%)
(3.81%)
-1.67%
4.76%
11.79%
11.93%
2.39%
9.12%
7.14%
(21.47%)
Oct 07 - Feb 09
468.21
06 May 16
Ytd Avg. 2016

1.39%
1.43%
1.39%
-4.72%
-2.54%
13.46%
12.7%
1.02%
11.63%
8.45%
(14.36%)
Jun 14 - Feb 16
Equity-Mid-Small Cap/USA
COOPER CREEK PARTNERS LLC
Robert Schwartz
3.41%
Dec 15 - Jan 16
Equity-Mid-Small Cap/UK
ALPHAGEN VOLANTIS FUND, LTD - 30 Apr 02
A (USD)
Rob Giles & Adam McConkey
Ytd Avg. 2016

(3.36%)
2.72%
(2.92%)
42.71%
$163M
Mar 16
185.44
$129M
Mar 16
160.38
$106M
Apr 16
2,196.44
$670M
Apr 16
2,190.99
$67M
Apr 16
2,619.80
$64M
Apr 16
325.51
30 Apr 16
Ytd Avg. 2016

0.80%
0.00%
0.53%
7.27%
2%
27.15%
9.93%
-13.51%
8.58%
10.20%
(22.12%)
Feb 11 - Sep 11
31 Mar 16
7.30%
(1.22%)
-13.46%
8.83%
26.65%
14.64%
-1.07%
16.87%
22.80%
(49.05%)
May 07 - Feb 09
30 Apr 16
1.20%
3.70%
-9.77%
3.63%
15.93%
9.43%
-4.99%
7.98%
7.52%
(13.18%)
Jun 15 - Jan 16
30 Apr 16
4.00%
(6.30%)
-17.34%
22.21%
79.39%
34.84%
-34%
17.55%
36.12%
(70.54%)
Feb 00 - Sep 02
30 Apr 16
9.12%
5.31%
-12.61%
12.36%
34.84%
24.02%
-9.02%
14.67%
15.25%
(50.33%)
Jun 07 - Apr 09
30 Apr 16 12.30%
2.79%
-6.76%
-3.87%
38.52%
17.18%
20.24%
11.41%
16.48%
(49.97%)
Jun 07 - Feb 09
Equity-Pharma-Biotech
Ytd Avg. 2016
(8.34%)

Source - HSBC
31
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Equity-Pharma-Biotech/USA
PERCEPTIVE LIFE SCIENCES
OFFSHORE FUND LTD
Joseph Edelman
31 Jul 00
SIVIK GLOBAL HEALTHCARE

OFFSHORE - A/01-01
Krishen Sud
30 Jun 01
VISIUM BALANCED OFFSHORE

FUND CL 2
Jacob Gottlieb
31 Oct 05
Q/Y
$1'161M
Feb 16
1,582.17 20 May 16
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(8.34%)
1.65%
(11.09%)
49.6%
20.3%
43.88%
27.75%
5.82%
19.08%
16.96%
Max
Drawdown1
(24.43%)
Dec 07 - Nov 08
$42M
Feb 16
2,350.58
$3'408M
Feb 16
252.18
30 Apr 16
2.46%
(3.49%)
-5.08%
25.55%
20.95%
13.88%
-8.27%
5.93%
11.71%
(32.70%)
Oct 07 - Feb 09
20 May 16 (3.54%)
(10.44%)
5.56%
7.78%
18.57%
10.31%
1.89%
9.16%
8.85%
(15.79%)
Aug 08 - Dec 08
Equity-Technology
Ytd Avg. 2016
(0.29%)
Equity-Technology/Global
EXANE ARCHIMEDES FUND CLASS 30 Sep 06
A CAP
Gilles Lenoir and Csar Zeitouni
1'136M
Mar 16
17,895.85 24 May 16
$494M
Apr 16
8.21%
3.84%
-0.19%
3.99%
6.22%
4.30%
(5.10%)
Nov 11 - May 12
Equity-Technology/USA
SELIGMAN TECH SPECTRUM
31 Dec 06
FUND CLASS -A1-S/2-2002
J. & W. Seligman & Co. Incorporated
Ytd Avg. 2016

1.38%
0.41%
1.38%
3.76%
464.36
Ytd Avg. 2016

(1.97%)
30 Apr 16 (5.45%)
(1.97%)
8.35%
30%
11.22%
0.65%
-0.21%
9.44%
11.70%
(19.91%)
May 08 - Nov 08
Equity-Utility
Ytd Avg. 2016
(0.23%)
Equity-Utility/Europe
CYGNUS UTILITIES,
INFRASTRUCTURE &
RENEWABLES
Cygnus Asset Management
30 Apr 06
$250M
Apr 16
1,905.05
28 Feb 13
$560M
Apr 16
4.09%
2.98%
10.88%
-2.7%
6.65%
7.24%
(10.69%)
Nov 09 - Aug 11
Equity-Utility/Global
ELECTRON GLOBAL FUND, L.P.
Electron Capital Partners, LLC
30 Apr 16
Ytd Avg. 2016

3.06%
0.24%
3.06%
-0.98%
126.51
Ytd Avg. 2016

(3.52%)
20 May 16 (0.37%)
(3.52%)
17.63%
-2.84%
14.71%
7.56%
7.67%
(7.85%)
May 15 - Aug 15

Source - HSBC
32
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(11.96%)
16 May 16 (2.50%) (11.96%)
-9.31%
5.33%
26.16%
28.67%
-4.16%
6.10%
14.66%
Max
Drawdown1
Equity-Diversified
Ytd Avg. 2016
(11.96%)
MARCATO INTERNATIONAL LTD
Richard McGuire, Marcato Capital
Management LLC
30 Sep 10
$1'784M
Aug 15
139.61
(26.08%)
May 15 - Feb 16
Merger-Arbitrage
Ytd Avg. 2016
(0.12%)
Merger-Arbitrage/Global
TIG ARBITRAGE ENHANCED FUND 31 Dec 06
Drew Figdor
$148M
Apr 16
220.09
Ytd Avg. 2016

(0.12%)
30 Apr 16 (2.49%)
(0.12%)
1.83%
1.72%
13.34%
7.34%
6.85%
8.82%
7.80%
(10.97%)
Oct 07 - Oct 08
Multi-Strategy
Ytd Avg. 2016
(1.48%)
Multi-Strategy/Europe
CYGNUS EUROPA EVENT DRIVEN 30 Jun 10
FUND
Jose Luis Perez Esteve
MLIS - OZ EUROPE UCITS FUND

CLASS B EUR
David Windreich, Och-Ziff Capital
Management Group
31 Mar 11
PORTLAND HILL OVERSEAS FUND 31 May 12

LTD
Thierry Lucas
$139M
Mar 16
2,233.99
$379M
Oct 15
109.00
$119M
Apr 16
145.62
Multi-Strategy/Global
AG SUPER FUND INTERNATIONAL, 30 Apr 93
LTD
Michael Gordon & Dave Kamin
ALTAI CAPITAL PARTNERS

OFFSHORE, LTD
ALTAI CAPITAL MANAGEMENT,
L.P.
31 Oct 09
$482M
Apr 16
$79M
Apr 16
Ytd Avg. 2016

(2.63%)
30 Apr 16 (3.34%)
(2.31%)
27.54%
22.57%
32.14%
9.47%
-0.26%
14.77%
10.01%
(15.90%)
Oct 11 - Jul 12
24 May 16
2.46%
(3.65%)
4.96%
-6.7%
14.37%
10.74%
-8.79%
1.69%
6.55%
(10.96%)
Apr 11 - Nov 11
30 Apr 16 (1.30%)
(1.94%)
17.54%
0.25%
17.1%
7.62%
10.07%
8.37%
(6.30%)
Dec 15 - Jan 16
Ytd Avg. 2016

(1.30%)
1,665.17 20 May 16 (0.15%)
2.09%
-6.41%
2.63%
16.86%
13.67%
-2.62%
8.97%
5.40%
(24.78%)
Jun 07 - Dec 08
97.54
30 Apr 16 (1.68%)
(27.03%)
-39.09%
24.91%
52.07%
-0.05%
-0.36%
(0.38%)
24.11%
(60.60%)
Jun 15 - Apr 16

Source - HSBC
33
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
ANDALUSIAN CORPORATE
OPPORTUNITIES FUND LP
Michael Reeber, Harrison M.
Wreschner
31 Jul 09
BG UMBRELLA FUND PLC

Boussard & Gavaudan Investment
Management
28 Feb 03
DAVIDSON KEMPNER INTL, LTD CLASS C Tranche 1

Thomas L. Kempner, Jr.
31 Oct 95
DROMEUS GLOBAL
OPPORTUNITIES FUND
Dromeus Capital Management Ltd
30 Jun 08
ECF VALUE FUND INTERNATIONAL 30 Jun 02

LTD
Gates Capital Management Inc.
GREYWOLF CAPITAL OVERSEAS

FUND
Greywolf Capital Management LP
31 Jul 03
KG INVESTMENT FUND LLC

KG Funds Management LLC
31 Dec 08
KITE LAKE (KL) SPECIAL

Jamie Sherman & Jan Lernout
31 Jan 11
MOAB PARTNERS OFFSHORE

FUND LTD
Moab Capital Partners, LLC, Michael
Rothenberg
31 Mar 06
OMNI EVENT FUND LIMITED

Omni Partners LLP, John Melsom
31 Aug 13
OWL CREEK OVERSEAS FUND,

LTD
Jeffrey Altman
31 Jan 02

William Ackman
31 Dec 04
PSAM WORLDARB MASTER FUND 31 Aug 98

LTD
P. Schoenfeld Asset Management LP
Q
Q
M
Y
Q/Y
Q
$127M
Apr 16
192.35
1'480M
Apr 16
142.64
$7'738M
Apr 16
509.78
$91M
Apr 16
198.71
$1'600M
Mar 16
569.67
$946M
Apr 16
262.74
$140M
Apr 16
311.77
$235M
Apr 16
146.64
$161M
Mar 16
226.40
$97M
Mar 16
122.42
31 Mar 16
MTD
2015
Ytd Avg. 2016

(1.30%)
4.25%
(8.75%)
-22.85%
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
5.37%
41.15%
30.08%
1.49%
10.30%
11.86%
Max
Drawdown1
(36.95%)
Aug 14 - Feb 16
20 May 16
1.25%
5.66%
10.77%
4.23%
11.56%
8.49%
-5.04%
2.72%
13.20%
(44.40%)
Oct 10 - Dec 11
20 May 16
0.70%
2.12%
1.68%
5.15%
10.24%
8.49%
1.59%
8.24%
3.67%
(11.22%)
Oct 07 - Nov 08
29 Apr 16
0.21%
(2.05%)
-8.8%
1.92%
11.65%
20.78%
-1.62%
9.16%
9.25%
(17.93%)
Jun 14 - Feb 16
30 Apr 16
5.34%
10.60%
-20.57%
-2.28%
18.9%
26.22%
2.09%
13.39%
16.91%
(43.83%)
May 07 - Dec 08
30 Apr 16
3.18%
1.20%
-14.14%
5.67%
15.74%
3.8%
-1.09%
7.86%
9.54%
(27.67%)
Jul 07 - Dec 08
30 Apr 16 (0.45%)
(1.67%)
12.44%
8.97%
26.85%
21.93%
12.4%
16.77%
13.51%
(20.31%)
Dec 08 - Feb 09
30 Apr 16
0.21%
3.44%
8.99%
1.31%
9.44%
11.94%
4.8%
7.56%
5.33%
(8.21%)
Mar 12 - Jun 12
20 May 16
0.10%
1.99%
4.31%
9.77%
18.26%
4.76%
-0.82%
8.39%
7.31%
(16.75%)
Aug 08 - Feb 09
30 Apr 16 (0.48%)
3.66%
16.55%
-3.49%
6.34%
8.40%
7.19%
(8.29%)
Sep 14 - Oct 14
$2'123M
Apr 16
4,613.37 20 May 16 (0.10%)
$3'967M
Apr 16
3,530.22 24 May 16 (2.50%)
$900M
Apr 16
YTD
2.55%
-2.95%
-8%
48.63%
11.07%
-15.44%
11.28%
12.70%
(20.92%)
Mar 10 - Sep 11
(17.05%)
-16.66%
37.24%
9.3%
12.39%
-2.03%
11.70%
14.91%
(39.81%)
Jul 15 - Mar 16
343.27
30 Apr 16 (0.47%)
1.91%
-7.2%
3.51%
18.08%
10.66%
1.94%
7.23%
6.61%
(29.14%)
May 07 - Nov 08

Source - HSBC
34
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
SOLUS SOLA LTD CL. I
Chris Pucillo, Scott Martin, CJ
Lanktree
31 Dec 01
TRIAN PARTNERS LTD

31 Dec 05
Nelson Peltz, Peter May & Ed Garden
TRISHIELD SPECIAL SITUATIONS

FUND LLC
Jeff Buick and Robert Harteveldt.
31 May 08
TYRUS CAPITAL EVENT FUND LTD 30 Sep 09

Tony Chedraoui
WHITEBOX MULTI-STRATEGY
FUND
Andrew Redleaf, Paul Twitchell, Rob
Vogel
31 Dec 01
$3'967M
May 16
1,236.12 20 May 16
MTD
YTD
2015
Ytd Avg. 2016

(1.30%)
0.61%
(0.17%)
0.37%
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
10.04%
31.78%
9.11%
-1.73%
19.09%
13.52%
Max
Drawdown1
(21.93%)
Feb 08 - Apr 09
$2'678M
Jan 16
230.43
$138M
Apr 16
3,820.41
$2'200M
Apr 16
159.33
$575M
Dec 15
558.44
20 May 16
0.35%
1.98%
4.38%
10.52%
40.06%
0.9%
3.98%
8.36%
13.24%
(30.56%)
May 07 - Feb 09
31 Mar 16
1.98%
(12.67%)
-19.85%
15.65%
22.84%
52.21%
-8.38%
18.65%
29.64%
(34.32%)
Aug 14 - Feb 16
20 May 16 (0.67%)
4.16%
-1.31%
7.65%
15.74%
6.77%
-0.07%
7.26%
7.38%
(13.79%)
Jun 14 - Sep 15
20 May 16
1.10%
1.99%
-2.78%
6.16%
18.09%
11.38%
1.2%
12.69%
9.36%
(34.40%)
Jun 08 - Dec 08

Source - HSBC
35
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

2.52%
30 Apr 16 (0.34%)
0.30%
2.77%
3.78%
6.04%
14.73%
19.93%
8.60%
5.03%
Max
Drawdown1
Fixed Income
Ytd Avg. 2016
2.52%
Fixed Income/Global
BLACKROCK FIXED INCOME
GLOBAL ALPHA FUND
Tim Webb
30 Sep 06
BLACKROCK OBSIDIAN FUND

Stuart Spodek
30 Jun 96
CAPULA GLOBAL RELATIVE VALUE 30 Sep 05

FUND LTD CLASS -AYan Huo, Masao Asai
III FUND LTD

Cliff G Viner
30 Jun 93
LMR ALPHA RATES TRADING

FUND, LTD
LMR Partners
31 May 14
PELAGUS CAPITAL FUND

Bruno Usai
31 Dec 07
PINE RIVER LIQUID RATES FUND

Pine River Capital Management L.P.
30 Nov 11
PROLOGUE FEEDER FUND, LTD.

CLASS A
David Lofthouse, Graham Walsh
31 Jan 06
SANCTUM FIXED INCOME FUND

Sanctum FI, LLP
31 Aug 03
M
M
Q
$5'700M
Feb 16
$2'000M
May 16
$9'006M
May 16
$177M
Apr 16
220.56
6,852.51 20 May 16 (0.25%)

266.35
-0.14%
5.23%
10.83%
34.27%
-13.5%
10.15%
9.24%
(20.93%)
20 May 16
0.29%
2.72%
7.53%
8.15%
7.56%
0.43%
6.21%
9.64%
4.25%
(7.41%)
Feb 08 - Mar 08
4,186.35 20 May 16
0.35%
2.37%
1.65%
2.87%
13.44%
11.83%
9.03%
6.45%
10.56%
(54.77%)
Jan 08 - Nov 08
127.67
$83M
Apr 16
197.11
$1'241M
May 16
154.03
$277M
May 16
(1.37%)
Jan 08 - Feb 09
$775M
Apr 16
$993M
May 16
(10.54%)
Jun 08 - Dec 08
20 May 16
1.00%
5.76%
15.05%
4.93%
13.18%
2.45%
(0.15%)
Mar 15 - Apr 15
20 May 16
0.08%
3.28%
-2.61%
-4.09%
3.38%
4.47%
2.27%
8.42%
5.43%
(8.75%)
Oct 13 - Jun 15
30 Apr 16
1.10%
4.85%
13.55%
2.27%
7.96%
11.71%
4.89%
10.27%
5.84%
(7.68%)
Mar 12 - May 12
1,924.69 20 May 16
0.18%
1.35%
1.88%
-3.34%
2.51%
6.02%
8.37%
6.56%
3.84%
(6.61%)
May 13 - Aug 14
199.45
20 May 16
0.28%
3.46%
5.67%
-0.27%
3.36%
1.91%
6.58%
5.57%
8.35%
(23.61%)
Jul 08 - Oct 08

Source - HSBC
36
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(2.33%)
30 Apr 16 (0.12%)
(2.33%)
2.06%
4.48%
4.95%
4.21%
-3.61%
3.83%
4.53%
Max
Drawdown1
Arbitrage
Ytd Avg. 2016
(2.33%)
Arbitrage/Global
HSBC MAA FUND USD
15 Jun 95
HSBC Alternative Investments Limited
Q/M
$79M
Mar 16
219.30
(25.30%)
Jul 07 - Dec 08
Event Driven
Ytd Avg. 2016
(1.68%)
Event Driven/Global
GEMS PROGR. FUND SICAV
31 Dec 01
RECOVERY PORTFOLIO REGULAR
USD
David Goldfarb, Miguel Abadi, Cedric
Carrol
HSBC CREDIT MARKET

OPPORTUNITIES FUND USD
CLASS COMPOSITE
Hsbc Management (Guernsey) Ltd
31 May 09
HSBC SPECIAL OPPORTUNITIES

28 Feb 07
FUND LTD - USD CLASS
$73M
Jun 15
Ytd Avg. 2016

(1.68%)
2,152.67 20 May 16 (0.67%)
(5.41%)
-5.31%
-0.44%
8.61%
5.91%
-12.46%
5.47%
6.48%
(23.23%)
Jun 08 - Dec 08
$32M
Mar 16
116.49
$59M
Mar 16
134.73
29 Apr 16
0.20%
(2.66%)
-0.53%
2.75%
9.19%
8.74%
-7.47%
3.74%
5.26%
(9.16%)
Feb 11 - Dec 11
30 Apr 16
0.91%
3.04%
-3.33%
4.75%
13.97%
20.63%
-3.5%
3.30%
9.48%
(35.45%)
Jun 08 - Mar 09
Macro
Ytd Avg. 2016
(1.17%)
Macro/Global
MASTERS FUND LTD MAGNOLIA
SERIES
Sean M. Doyle
31 Dec 96
$248M
Feb 16
5,253.97
Ytd Avg. 2016

(1.17%)
31 Mar 16 (1.61%)
(1.17%)
1.11%
1.97%
11.1%
1.49%
-0.36%
9.00%
8.36%
(9.96%)
Jul 98 - Oct 98
Multi-Strategy
Ytd Avg. 2016
(3.12%)
DIAMOND NEUTRAL FUND CLASS
A1
Elchanan Jaglom, Daniel Jaglom
31 Oct 02
$118M
Apr 16
180.99
29 Apr 16
Ytd Avg. 2016

(3.12%)
0.17%
(2.68%)
2.62%
1.42%
10.45%
2.61%
-1.97%
4.49%
4.13%
(14.18%)
Jun 08 - Dec 08

Source - HSBC
37
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
GAM DIVERSITY I INC - US$ CLASS 31 Dec 89
David Smith
GAM TRADING II USD

David Smith, Arvin Soh
30 Apr 97
HSBC GH FUND USD

31 May 96
HSBC LEVERAGED GH FUND

HSBC Republic Investment Limited
30 Nov 04
HSBC UCITS ADVANTEDGE FUND - 31 Oct 09

USD CLASS
Hsbc Alternative Inv. Ltd
$284M
Mar 16
714.19
$541M
Mar 16
344.48
$2'042M
Mar 16
336.34
$2'042M
Mar 16
158.34
204M
Mar 16
90.88
23 May 16
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(3.12%)
0.49%
(3.30%)
-2.38%
0.19%
10.49%
6.67%
-3.44%
7.73%
7.76%
Max
Drawdown1
(19.64%)
Jan 94 - Jan 95
23 May 16 (0.24%)
0.25%
0.46%
4.08%
-0.45%
2.83%
-4.11%
6.70%
5.73%
(7.34%)
Apr 13 - Oct 13
30 Apr 16
0.42%
(2.06%)
3.51%
4.77%
8.51%
5.4%
-3.37%
6.28%
6.10%
(18.30%)
Jun 08 - Dec 08
30 Apr 16
0.66%
(4.92%)
5.03%
7.61%
15.12%
8.72%
-8.76%
4.11%
10.89%
(37.09%)
Jun 08 - Dec 08
18 May 16 (0.38%)
(6.02%)
-1.97%
-1.57%
7.25%
1.38%
-7.51%
(1.44%)
3.93%
(10.79%)
May 15 - May 16
Trading
Ytd Avg. 2016
6.81%
Trading/Global
HSBC TRADING ADVANTEDGE
31 Oct 05
FUND
$62M
Mar 16
166.76
Ytd Avg. 2016

6.81%
30 Apr 16 (0.42%)
6.81%
3.29%
16.59%
-8.75%
-5.39%
-1.62%
4.99%
9.76%
(20.93%)
Apr 11 - Sep 13

Source - HSBC
38
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
-43.99%
3.11%
20.19%
-18.03%
15.08%
43.49%
Max
Drawdown1
Equity-Diversified
Ytd Avg. 2016
20.38%
Equity-Diversified/Emerging
Alexander Branis
31 Aug 96
$796M
Apr 16
154.93
Ytd Avg. 2016

20.38%
19 May 16 (4.17%)
20.38%
-3.1%
(90.26%)
Jul 97 - Jan 99

Source - HSBC
39
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
38.31%
25.02%
2012
2011
Ann.
Return
Ann.
Volatility
24.32%
18.87%
Max
Drawdown1
Commodity
Ytd Avg. 2016
5.44%
Commodity/Global
Pierre Andurand
31 Jan 13
MERCHANT COMMODITY FUND

(THE) - COMPOSITE
Michael Coleman and Doug King
31 May 04
MERRICKS CAPITAL SOFT

COMMODITIES
Merricks Capital Pty Limited
31 Jan 08
M
M
$1'130M
Apr 16
1,611.37
$239M
Apr 16
597.72
$151M
Apr 16
167.59
30 Apr 16
Ytd Avg. 2016

5.44%
6.50%
12.67%
4.05%
(14.92%)
Jul 13 - Sep 14
20 May 16 (0.40%)
8.67%
-3.23%
59.33%
15.77%
-7.6%
-30.07%
16.10%
21.67%
(36.93%)
Dec 10 - Oct 11
30 Apr 16
1.44%
(5.01%)
-3.43%
4.06%
8.79%
4.98%
1.85%
6.46%
7.11%
(13.39%)
May 15 - Mar 16
Commodity-Systematic
Ytd Avg. 2016
10.19%
Commodity-Systematic/Global
ARCTIC BLUE
Jean-Jacques Duhot
31 Dec 07

Jean-Jacques Duhot
31 May 14
MILLBURN COMMODITY
PROGRAM
Millburn Ridgefield Corporation
28 Feb 05
M
M
M
$70M
Apr 16
214.89
$65M
Apr 16
180.49
$208M
Apr 16
235.90
30 Apr 16
Ytd Avg. 2016

10.19%
1.10%
6.06%
3.88%
4.54%
13.28%
7.6%
2.87%
9.61%
8.71%
(12.55%)
Jun 13 - Jul 14
30 Apr 16
3.40%
19.37%
13.76%
32.91%
36.05%
21.20%
(13.02%)
Mar 15 - Jun 15
24 May 16
1.61%
5.13%
25.5%
28.09%
-7.65%
-15.24%
-5.62%
7.93%
12.50%
(30.96%)
Apr 11 - Nov 13
Currency
Ytd Avg. 2016
1.86%
Currency/Asia
DYMON ASIA MACRO FUND
(SERIES A)
Danny Yong
31 Jul 08
THE CAMBRIDGE STRATEGY ASIAN MARKETS CURRENCY

ALPHA
Alexandra Edstein
31 Jan 06
$3'242M
Apr 16
172.56
$109M
Mar 16
171.86
20 May 16
Ytd Avg. 2016

(0.61%)
2.85%
3.98%
-10.25%
18.75%
5.19%
0.96%
20.11%
7.24%
11.16%
(13.69%)
Jul 08 - Sep 08
20 May 16 (1.42%)
(5.20%)
4.16%
8.72%
1.06%
0.86%
6.36%
5.39%
7.98%
(6.96%)
May 13 - Apr 14

Source - HSBC
40
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Currency/Global
HARNESS MACRO CURRENCY
FUND
Harness Investment Group Ltd
31 Mar 09
KO-ZHOU FUNDAMENTAL FX
FUND
Joe Zhou,
28 Feb 15
THE CAMBRIDGE STRATEGY 31 Jan 08

EMERGING MARKETS CURRENCY
ALPHA
Andrew Saunders
$630M
Mar 16
1,016.14 24 May 16
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

3.50%
0.85%
(0.78%)
-3.64%
8.27%
3.49%
17.64%
-4.62%
5.62%
10.37%
Max
Drawdown1
(13.52%)
Apr 10 - Aug 10
$81M
Apr 16
111.10
$148M
Mar 16
204.05
13 May 16 (0.91%)
4.98%
5.83%
9.12%
5.82%
(1.35%)
Aug 15 - Sep 15
20 May 16 (0.09%)
6.30%
7.91%
16.61%
-0.3%
7.42%
10.46%
8.96%
8.16%
(10.76%)
May 13 - Sep 13
Diversified
Ytd Avg. 2016
(2.02%)
Diversified/Asia
ALPHADYNE INVESTMENT
31 Jan 07
STRATEGIES FUND LTD
Bart Broadman, Philippe Khuong-Huu
BREVAN HOWARD ASIA FUND

LIMITED
Kaspar Ernst
30 Sep 04
GRATICULE ASIA MACRO FUND

Adam Levinson
28 Feb 11
RV CAPITAL ASIA OPPORTUNITY

FUND
Ranodeb Roy, RV Capital
Management Private Ltd
31 Dec 11
SINFONIETTA FUND
Symphony Financial Partners
30 Jun 08
Q
M
$473M
Apr 16
2,025.11 20 May 16
FINISTERRE GLOBAL
OPPORTUNITY FUND
Darren Walker
31 Mar 06
GAVEA FUND LTD . CLASS A S/1

Fraga Arminio and Gabriel Srour
31 Jul 03
5.69%
12.15%
7.06%
3.11%
7.88%
4.97%
(5.92%)
Jan 14 - Jun 14
$2'602M
Apr 16
249.40
$3'540M
Apr 16
147.09
$203M
Feb 16
151.81
$60M
Apr 16
156.70
30 Apr 16 (0.11%)
(1.57%)
5.19%
3.55%
11.55%
4.41%
8.86%
8.21%
3.74%
(2.56%)
Jan 16 - Apr 16
20 May 16 (0.55%)
(0.22%)
1.76%
-1.21%
17.08%
21.23%
3.3%
7.66%
6.00%
(6.81%)
May 15 - Feb 16
30 Apr 16
1.40%
1.96%
-0.94%
9.95%
13.06%
20.91%
10.11%
4.70%
(4.45%)
May 15 - Feb 16
30 Apr 16
0.48%
(9.40%)
-5.14%
-3.1%
34.5%
7.26%
22.95%
5.79%
14.29%
(18.23%)
Jun 13 - Mar 16
Diversified/Emerging
ALPHA4X CAPITAL GROWTH FUND 30 Apr 06
Manuel E. Meja-Aoun, Urvish Bidkar
Ytd Avg. 2016

(1.70%)
0.42%
0.75%
2.68%
$49M
Apr 16
162.49
$1'227M
Apr 16
233.19
$508M
Apr 16
245.17
Ytd Avg. 2016

(0.23%)
30 Apr 16 (0.94%) (10.51%)
10.25%
6.85%
-7.33%
2.54%
11.5%
4.97%
7.94%
(14.63%)
Jun 13 - Jun 14
30 Apr 16
1.29%
2.66%
6.37%
11.35%
5.36%
7.75%
-5.97%
8.75%
7.04%
(18.02%)
Jun 08 - Oct 08
20 May 16
2.05%
(1.24%)
11.51%
-5.31%
2.71%
8.19%
-0.35%
7.25%
7.02%
(12.50%)
Jul 08 - Oct 08

Source - HSBC
41
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
GREEN FUND LLC - CLASS I
Luis Stuhlberger
31 Jan 01
PHARO GAIA FUND, LTD

Guillaume Fonkenell and Michael
Skarbinski
30 Nov 08
PHARO TRADING FUND, LTD

Guillaume Fonkenell
30 Nov 00
SPINNAKER GLOB OPP FUND, LTD 31 Jan 01

COMPOSITE
Jorge Rosas
M
Q
M
M
$556M
Feb 16
744.49
$1'127M
Apr 16
2,413.71
$409M
Apr 16
5,077.15
$856M
Mar 16
501.04
30 Apr 12
BREVAN HOWARD FUND, LTD USD CLASS A

Alan Howard
31 Mar 03
BTG PACTUAL GLOBAL EM. MKTS

AND MACRO FD
BTG Pactual Global Asset
Management
31 Jan 09
CAXTON GLOBAL INVESTMENT

LTD
Andrew E. Law
31 Jan 97
M
M
COMMONWEALTH OPPORTUNITY 30 Nov 08

CAYMAN FUND LTD
Adam Fisher
ECLECTICA FUND CLASS A EURO 30 Sep 02

(THE)
Hugh Hendry
EPISODE INC. CLASS A

David Fishwick / Tony Finding
31 Jul 05
GAM GLOBAL RATES HEDGE

FUND
Adrian Owens
31 Jan 04
GAMUT INVESTMENTS
Adrian Owens
30 Jun 86
GEMSSTOCK FUND - B1 USD

Al Breach & Darren Read
30 Nov 10
M
M
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(0.23%)
19 May 16 (0.49%)
1.39%
4.69%
-3.49%
9.9%
13.55%
-5.7%
13.15%
13.31%
Max
Drawdown1
(33.00%)
30 Apr 16
2.70%
4.19%
7.94%
17.5%
6.73%
1.1%
8.26%
13.23%
12.59%
(14.76%)
30 Apr 16
3.65%
4.84%
-9.25%
12.47%
19.65%
0.69%
-2.68%
11.11%
10.84%
(17.68%)
Aug 14 - Dec 15
15 May 16 (1.62%)
(2.97%)
-2.3%
6.64%
1%
14.01%
-11.83%
11.11%
10.99%
(31.78%)
May 08 - Feb 09
120.02
$16'891M
Apr 16
297.38
$331M
Apr 16
2,758.32
$5'986M
Feb 16
919.53
$503M
Apr 16
222.03
$66M
Mar 16
258.20
$1'111M
Apr 16
151.40
$392M
Mar 16
225.67
$424M
Apr 16
YTD
May 13 - Jun 13
$1'310M
Apr 16
$62M
Mar 16
MTD
Jun 08 - Nov 08
Diversified/Global
ATREAUS OVERSEAS FUND LTD
Atreaus Capital LP
Date
Ytd Avg. 2016

(2.43%)
20 May 16 (1.33%)
(3.07%)
12.09%
9.07%
1%
0.27%
4.60%
7.70%
(4.11%)
Nov 15 - May 16
30 Apr 16 (0.87%)
(1.78%)
-1.96%
-0.79%
2.68%
3.93%
12.15%
8.68%
6.76%
(8.53%)
Apr 13 - Apr 16
30 Apr 16
0.70%
(2.08%)
5.3%
-4.66%
9.65%
28.12%
3.44%
15.02%
7.74%
(12.56%)
Jun 14 - Jan 15
24 May 16 (1.39%)
(0.20%)
3.53%
-1.38%
18.16%
1.96%
0.7%
12.17%
7.53%
(7.37%)
Jun 07 - Aug 07
20 May 16
0.30%
0.59%
1.04%
6.19%
5.39%
15.64%
10.75%
11.26%
8.86%
(10.38%)
Jan 09 - Feb 09
20 May 16 (0.60%)
(6.39%)
6.45%
9.48%
-0.01%
-1.72%
12.11%
7.20%
19.89%
(31.94%)
Feb 08 - Sep 08
20 May 16 (1.00%)
(0.24%)
2.51%
7.77%
6.14%
-4.69%
0.98%
3.91%
10.57%
(32.77%)
Oct 07 - Feb 09
17 May 16 (2.51%)
(2.60%)
1.72%
4.72%
-0.11%
14.71%
-6.73%
6.84%
7.23%
(12.25%)
Mar 11 - Sep 11
8,201.14 24 May 16 (0.88%)
(1.08%)
0.54%
5.1%
-2.83%
0.29%
-0.95%
15.87%
12.89%
(13.45%)
Dec 87 - Apr 88
201.55
30 Apr 16
5.74%
0.38%
12.42%
6.19%
23.95%
48.41%
-13.11%
13.81%
15.95%
(20.66%)
Apr 11 - Sep 11

Source - HSBC
42
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Diversified/Global
GRAHAM ABSOLUTE RETURN
TRADING LTD
Graham Capital Management, L.P.
31 Dec 04
GRAHAM GLOBAL INVESTMENT

FUND II - DISCRETIONARY
ENHANCED VOL -CLASS - B Kenneth G. Tropin
31 May 04

FUND- DISCRETIONARY
Kenneth G. Tropin
31 May 04
HARMONIC ALPHA PLUS MACRO

FUND - USD CLASS
Harmonic Capital Partners LLP
30 Apr 03
JPMORGAN INVESTMENT GLOBAL 30 Apr 05

MACRO OPPORTUNITIES C (Acc)
EUR
James Elliot, Shrenick Shah, Talib
Sheikh
LONDON SELECT FUND LIMITED

David Gorton
31 Mar 04
MELLON OFF GLOB OPP FUND

LTD - MULTICURRENCY - A1
Jeff Zhang
30 Nov 05
MKP ENHANCED OPPORTUNITY

OFFSHORE, LTD
MKP Capital Management, LLC
31 Jul 13
MKP OPPORTUNITY OFFSHORE,

LTD
MKP Capital Management, L.L.C.
31 Jul 01
MLM MACRO PEAK PARTNERS

OFFSH FD, LTD - B
Timothy Rudderow
31 Mar 02
MOORE GLOBAL INV FD, LTD - A $ 31 Dec 89

Louis Bacon
MOORE MACRO MANAGERS

FUND, LTD CLASS -ALouis Bacon
31 Jul 93

Nicolas Galperin, Esteban Klein
31 Dec 07
$1'328M
Apr 16
452.45
$2'048M
Apr 16
238.90
$2'048M
Apr 16
272.17
$96M
Apr 16
134.92
2'934M
Feb 16
152.14
$486M
Apr 16
166.67
$137M
Aug 15
1,246.52
$748M
Nov 15
98.58
$2'422M
Nov 15
298.98
24 May 16
MTD
2015
Ytd Avg. 2016

(2.43%)
0.19%
0.16%
1.32%
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
10.41%
10.5%
9.29%
4.54%
11.72%
9.66%
Max
Drawdown1
(13.31%)
May 07 - May 08
24 May 16
0.06%
(0.19%)
-0.27%
6.53%
7.57%
7.8%
6.66%
10.00%
10.20%
(30.81%)
May 07 - Jun 08
24 May 16
0.02%
(0.21%)
-0.35%
3.18%
3.63%
3.83%
3.56%
5.57%
5.11%
(14.81%)
May 07 - Jun 08
20 May 16 (1.48%)
(5.86%)
3.43%
8.27%
-8.34%
23.45%
-8.95%
5.11%
11.79%
(18.17%)
Aug 12 - Feb 14
25 May 16
0.52%
(0.07%)
10.43%
13.75%
16.29%
2.71%
-5.09%
5.69%
7.38%
(21.35%)
Oct 07 - Feb 09
17 May 16 (0.62%)
(4.68%)
-1.32%
2.53%
9.34%
5.37%
0.08%
4.30%
9.21%
(34.17%)
Jan 08 - Dec 08
29 Apr 16
1.82%
(2.40%)
11.89%
-1.12%
1.21%
-2.53%
4.79%
2.14%
8.74%
(31.90%)
Jan 07 - Oct 08
30 Apr 16
0.51%
(2.79%)
0.82%
-3.62%
4.36%
(0.52%)
7.23%
(11.28%)
Mar 15 - Mar 16
30 Apr 16
0.34%
(1.87%)
0.66%
-2.17%
7.11%
6.89%
11.43%
7.70%
5.34%
(7.57%)
Mar 15 - Mar 16
$872M
Apr 16
2,572.83 20 May 16 (2.10%)
$4'000M
Feb 16
58,787.03 12 May 16 (0.13%)
$7'500M
Feb 16
14,284.59 12 May 16
$113M
May 16
YTD
(6.24%)
1.44%
13.66%
23.84%
-0.76%
-35.04%
6.91%
17.48%
(36.99%)
Dec 10 - May 12
(0.14%)
3.43%
1.74%
17.02%
8.82%
-2.21%
16.70%
11.38%
(18.45%)
Jan 94 - Feb 95
0.05%
(4.45%)
3.12%
5.54%
13.49%
9.01%
-2.57%
12.37%
8.10%
(14.47%)
Jan 94 - Feb 94
151.95
30 Apr 16
3.92%
2.46%
8.15%
-7.94%
7.16%
-6.72%
3.17%
5.11%
13.23%
(25.48%)
Sep 08 - Oct 08

Source - HSBC
43
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Diversified/Global
PHARO MACRO FUND, LTD
Pharo Team
30 Apr 05
PIMCO ABSOLUTE RETURN

31 Mar 02
STRATEGY IV OFFSHORE FUND II ,
CL. A/1
Qi Wang
PINPOINT MULTI-STRATEGY FUND 29 Feb 08

Qiang Wang
POTOMAC RIVER CAPITAL

MASTER FUND
Mark W. Spindel
28 Feb 11
PWP GLOBAL MACRO FUND

Maria Vassalou,
30 Sep 13
RUBICON GLOBAL FUND, LTD

Paul Brewer
31 Oct 99
STANDARD LIFE GLOBAL

FOCUSED STRATEGIES (GFS)
FUND
Standard Life Investments
31 Dec 13
Tacchi Tim
31 Aug 89
TUDOR B.V.I GLOBAL FUND LTD

-A- ALT SERIES 01
Paul Tudor Jones
31 Dec 11
TUDOR BVI GLOBAL FUND LTD

CLASS -A- SERIES 01 NI
Paul Tudor Jones
31 Oct 86
TUDOR DISCRETIONARY MACRO

FUND CLASS I Series 01
Multi-PM Platform
30 Jun 12
M
M
D
M
Q
$4'229M
Apr 16
3,254.30
$1'672M
Apr 16
2,524.22
$275M
Apr 16
192.40
$11M
Apr 16
120.15
$385M
Apr 16
113.37
$777M
Apr 16
514.85
650M
Apr 16
10.20
$190M
Apr 16
6,491.05
30 Apr 16
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(2.43%)
2.51%
1.85%
3.57%
8.23%
18.51%
12.53%
-7.83%
11.31%
8.43%
Max
Drawdown1
(9.64%)
Jun 08 - Nov 08
30 Apr 16
1.30%
(1.56%)
4.54%
5.86%
-0.44%
12.01%
1.82%
6.79%
8.04%
(25.88%)
May 08 - Nov 08
13 May 16 (0.20%)
(2.74%)
17.03%
8.37%
4.65%
6.19%
-10.43%
8.30%
11.20%
(17.36%)
Jun 08 - Nov 08
20 May 16 (0.69%)
(6.83%)
-9.67%
5.19%
9.3%
5.55%
17.65%
3.57%
10.08%
(18.10%)
Feb 15 - May 16
30 Apr 16 (1.34%)
1.30%
-5.47%
17.22%
1%
4.97%
6.04%
(7.18%)
Jan 15 - Dec 15
20 May 16 (0.47%)
(7.92%)
5.41%
1.72%
18.27%
-3.89%
5.34%
10.40%
14.97%
(36.03%)
Dec 04 - May 07
20 May 16
0.81%
(6.18%)
8.32%
-1.12%
0.20%
5.34%
(6.94%)
Dec 15 - Apr 16
30 Apr 16 (0.95%)
(6.73%)
-0.58%
-8.57%
7.65%
4.27%
-14.09%
7.20%
13.93%
(27.05%)
Jan 94 - Jan 95
$8'250M 130,084.84 20 May 16 (0.42%)

Sep 15
(3.06%)
$8'250M 125,846.33 20 May 16 (0.49%)

Sep 15
(3.53%)
$1'764M
Sep 15
(4.45%)
1,120.17 20 May 16 (0.65%)
1.42%
3.47%
14.29%
6.27%
4.94%
6.67%
(5.52%)
Mar 15 - May 16
0.45%
2.65%
13.99%
5.41%
2.17%
17.76%
18.13%
(17.07%)
Apr 92 - Jul 92
0.56%
0.15%
13.2%
2.82%
2.96%
6.75%
(9.27%)
Jun 13 - Jun 14
Fixed Income
Ytd Avg. 2016
(1.62%)
Fixed Income/Global
MARKHAM RAE I SUB FUND
Christopher Brandt
30 Sep 11
$183M
Apr 16
11.49
20 May 16
Ytd Avg. 2016

(1.62%)
1.00%
(1.62%)
5.83%
6.89%
-6.81%
5.77%
4.71%
3.03%
9.08%
(19.31%)
May 13 - Jul 14

Source - HSBC
44
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
11.34%
-10.32%
8.57%
4.2%
5.55%
13.63%
Max
Drawdown1
Systematic
Ytd Avg. 2016
0.61%
Systematic/Global
EAGLE QUANTITATIVE MACRO
Eagle Trading Systems Inc.
(Menachem Sternberg)
30 Sep 06
HIGHER MOMENT AURORA FUND

LP
Ravi Singh
31 Mar 08
HIGHER MOMENT CAPITAL

OPPORTUNITIES, LP
Ravi Singh
30 Nov 09
$303M
Mar 16
168.35
$78M
Apr 16
160.09
$79M
Apr 16
459.59
Ytd Avg. 2016

0.61%
20 May 16 (7.67%)
(2.67%)
-9.39%
(22.33%)
May 12 - Apr 14
30 Apr 16 (1.27%)
0.30%
-4.99%
11.69%
5.5%
9.42%
6.81%
5.99%
6.08%
(9.63%)
Jun 09 - Aug 09
30 Apr 16 (0.08%)
4.20%
31.61%
12.47%
-9.29%
38.83%
52.2%
26.82%
22.96%
(17.34%)
Jan 11 - Mar 11

Source - HSBC
45
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
-0.62%
-6.23%
-2.31%
14.41%
17.40%
24.09%
Max
Drawdown1
Currency
Ytd Avg. 2016
2.97%
Currency/Global
Dacharan
30 Apr 08
MAN AHL CURRENCY FUND DN

31 Jul 93
USD
Matthew Sargaison and Emidio Sciulli
ORTUS AGGRESSIVE FUND

(CAYMAN) LTD
Joe Zhou,
29 Feb 04
ORTUS FUND (CAYMAN) LTD

Dr Joe Zhou
30 Sep 03
$85M
Apr 16
3,611.93
$37M
Mar 16
140.18
$163M
Apr 16
320.65
$94M
Apr 16
212.57
30 Apr 16
Ytd Avg. 2016

2.97%
7.71%
10.23%
13.49%
(26.75%)
Jul 11 - Aug 14
20 May 16 (0.35%)
(7.40%)
13.03%
58.05%
-11.24%
1.13%
-20.46%
12.27%
23.78%
(31.58%)
Apr 11 - Jun 12
13 May 16 (3.48%)
6.48%
0.87%
18.72%
-30.11%
-30.43%
12.54%
10.01%
28.78%
(62.89%)
Jul 08 - Oct 08
13 May 16 (1.81%)
2.58%
-1.06%
7.42%
-17.32%
-17.33%
5.7%
6.15%
11.42%
(33.53%)
Jan 12 - Sep 14
Systematic
Ytd Avg. 2016
(1.58%)
Systematic/Global
AHL EVOLUTION
Tim Wong , Matthew Sargaison
31 Aug 05
AHL ALPHA
Tim Wong, Matthew Sargaison
30 Sep 95
AHL DIVERSIFIED
Tim Wong, Matthew Sargaison
29 Feb 96
M
M
W
ALTIS GLOBAL TREND PORTFOLIO 30 Jun 14

Altis Partners (Jersey) Limited,
Zbigniew Hermaszewski
ASPECT DIVERSIFIED FUND CLASS A

Anthony Todd
30 Nov 98
BH-DG SYSTEMATIC TRADING

FUND LTD
BH-DG Systematic Trading LLP
30 Apr 06
BLUETREND FUND, LTD -USDCLASS A

Systematica Investments Limited
31 Mar 04
$1'551M
Apr 16
1.53
$4'500M
Mar 16
1.27
$4'600M
Mar 16
1.39
$44M
Apr 16
110.91
$831M
Apr 16
406.52
$370M
Apr 16
182.00
$5'000M
Apr 16
310.64
Ytd Avg. 2016

(1.58%)
20 May 16 (1.80%)
3.27%
3.18%
20.31%
16.91%
23.53%
10.53%
14.45%
12.25%
(13.16%)
Jun 08 - Oct 08
20 May 16 (2.30%)
(1.69%)
1.51%
22.83%
-1.51%
-0.06%
-2.76%
12.11%
12.25%
(12.29%)
Oct 01 - Feb 02
20 May 16 (3.37%)
(3.70%)
-2.68%
33.79%
-3.05%
-2.23%
-5.91%
12.63%
16.57%
(19.53%)
Oct 01 - Apr 02
30 Apr 16 (5.76%)
(11.12%)
7.87%
15.69%
5.80%
23.14%
(18.59%)
Feb 16 - Apr 16
24 May 16 (1.30%)
(6.06%)
7.88%
32.04%
-4.44%
-10.66%
4.51%
8.35%
16.01%
(22.19%)
Feb 12 - Mar 14
20 May 16 (3.89%)
(0.43%)
-1.43%
10.81%
2.09%
-3.33%
1.83%
6.13%
11.25%
(15.21%)
Apr 11 - Apr 14
20 May 16 (2.29%)
(2.18%)
3.44%
12.68%
-11.5%
0.02%
0.32%
9.78%
14.23%
(22.05%)
Apr 11 - Jan 14

Source - HSBC
46
Inception Liquidity
Date
Asset
Size
Systematic/Global
BORONIA DIVERSIFIED FUND
31 Aug 93
MASTER
Richard Grinham and Angus Grinham
CAMPBELL GLOBAL ASSETS FUND 31 Jan 98

LTD Class A
Campbell & Company
CAMPBELL GLOBAL ASSETS FUND 30 Jun 02

LTD Class B
Campbell & Company
CANTAB CAPITAL PARTNERS

QUANTITATIVE FUND (THE) - USD
ARISTARCHUS
Ewan Kirk, Erich Schlaikjer, Cantab
Capital
28 Feb 07
CONQUEST MACRO FUND, LTD

(COMP)
Marc Malek
30 Apr 99

Toby Crabel
28 Feb 98
DB PLATINUM IV DBX SYSTEMATIC 30 Jun 10

ALPHA INDEX FUND - CLASS I1CU
DB Platinum Advisors
DB PLATINUM IV MW HELIUM
31 Jan 12
Marshall Wace LLP / Philippe Azoulay
DISCUS FEEDER LTD CL. B USD

STANDARD LEVERAGE
Team managed
31 Dec 90
DUNN WMA FUND SA

Dunn Capital Management LLP
31 Dec 10
DUNN WMA INSTITUTIONAL UCITS 31 Aug 11

FUND
Dunn Capital Management LLP
EAGLE GLOBAL
Menachem Sternberg
30 Sep 95
FORT GLOBAL CONTRARIAN

Yves Balcer, Sanjiv Kumar
30 Sep 02
FORT GLOBAL DIVERSIFIED

Yves Balcer, Sanjiv Kumar
30 Sep 93
D
W
$50M
Mar 16
Last NAV
or Index
Date
MTD
2015
Ytd Avg. 2016

(1.58%)
2,082.88 24 May 16 (2.95%)
3.52%
-4.54%
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
14.33%
13.23%
-3.99%
-8.75%
9.00%
11.59%
Max
Drawdown1
(14.56%)
Feb 08 - Apr 12
$37M
Jan 16
4,242.95 24 May 16 (1.16%)
$37M
Jan 16
3,762.18 24 May 16 (0.70%)
$2'500M
Apr 16
1,864.31 20 May 16 (1.98%)
(6.55%)
-2.97%
19.84%
12.57%
4.52%
-2.92%
8.21%
13.27%
(21.17%)
Jun 07 - Jan 10
(0.31%)
1.34%
14.38%
11.34%
1.84%
1.83%
6.64%
11.46%
(22.92%)
Jun 07 - Aug 07
(0.37%)
-8.24%
39.32%
-27.65%
15.32%
12.84%
7.15%
18.06%
(34.86%)
Apr 13 - Apr 14
$199M
Feb 16
2,394.47 24 May 16
$565M
Mar 16
6,273.39 20 May 16 (1.16%)
0.75%
14.53%
2.28%
4.21%
-6.62%
-33.44%
-6.08%
5.25%
20.22%
(56.11%)
Jul 09 - Mar 13
9.20%
-1.74%
8.67%
2.2%
15.53%
-1.93%
10.59%
15.46%
(16.71%)
Oct 98 - Jun 99
$2'374M
May 16
127.44
$126M
Apr 16
90.97
$280M
Apr 16
YTD
18 May 16 (1.32%)
(3.69%)
-0.06%
14.41%
6.63%
-3.96%
4.85%
4.20%
8.23%
(7.88%)
Mar 15 - May 16
23 May 16
0.78%
(7.49%)
-3.27%
21.93%
6.14%
4.09%
4.43%
10.32%
(17.98%)
Mar 15 - Apr 16
1,228.64 20 May 16 (2.65%)
(2.50%)
8.36%
15.4%
-10.32%
-13.88%
21.95%
10.61%
15.55%
(34.56%)
Jun 94 - Oct 95
$233M
Apr 16
167.77
$76M
Oct 15
136.96
30 Apr 16 (3.33%)
(0.94%)
9.66%
35.08%
33.42%
-18.27%
4.85%
10.19%
25.22%
(27.38%)
Aug 11 - Oct 12
24 May 16
0.36%
(0.59%)
9.14%
24.18%
33.48%
-20.2%
-4.56%
6.87%
18.95%
(27.86%)
Aug 11 - Oct 12
$390M
Apr 16
704,376.73 20 May 16 (12.14%)
$1'350M
May 16
4,138.06 20 May 16 (0.19%)
$360M
May 16
2,587.62 20 May 16 (2.35%)
(10.80%)
-9.55%
-1.04%
-15.88%
8.1%
8.82%
9.91%
22.79%
(37.82%)
Apr 13 - May 16
(1.88%)
-1.34%
12.36%
1.62%
2.83%
28.7%
10.97%
11.38%
(17.42%)
Mar 08 - Oct 08
3.50%
-3.2%
19.02%
-4.67%
7.12%
39.95%
15.44%
18.70%
(26.55%)
May 99 - Sep 00

Source - HSBC
47
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Systematic/Global
GRAHAM GIF II PROPRIETARY
MATRIX SP SIES A
Kenneth G. Tropin
30 Jun 99

FUND II - K4D-10V
Kenneth G. Tropin
31 Jan 95

FUND II - K4D-15V - COMPOSITE
Kenneth G. Tropin
31 Dec 00

FUND TACTICAL TREND S/A
Graham Capital Management, L.P.
30 Sep 06
GSA TREND FUND

Jonathan Hiscock, Pavel Zhlobich &
David Khabie-Zeitoune
31 Aug 13
ISAM SYSTEMATIC TREND FUND

CLASS Q
ISAM Systematic Management
31 May 01
KEYNES LEVERAGED
31 Dec 04
QUANTITATIVE STRATEGIES FUND
CLASS B SERIE 2
Sushil Wadhwani,
LYNX (BERMUDA) LTD

30 Apr 00
Jonas Bengtsson, Svante Bergstrom,
Martin Sandquist

30 Apr 08
Jonas Bengtsson, Svante Bergstrom,
Martin Sandquist
MILLBURN DIVERSIFIED
PROGRAM
Millburn Ridgefield Corporation
31 Jan 77
QMS DIVERSIFIED GLOBAL

MACRO
QMS CAPITAL MANAGEMENT LP
31 May 10
ROY G. NIEDERHOFFER
DIVERSIFIED OFFSHORE FUND
R. G. Niederhoffer Capital
Management, Inc.
31 Aug 95
$845M
Apr 16
370.38
$2'744M
Apr 16
410.13
$2'744M
Apr 16
263.53
$5'799M
Apr 16
230.14
$992M
Mar 16
152.19
$786M
Apr 16
621.45
$312M
Apr 16
111.02
$2'648M
Apr 16
$382M
Apr 16
$849M
Feb 16
Date
MTD
YTD
2015
Ytd Avg. 2016

(1.58%)
24 May 16 (1.10%)
(3.61%)
0.27%
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
15.91%
13.72%
-0.07%
-9.85%
8.05%
11.90%
Max
Drawdown1
(17.90%)
Apr 11 - Nov 12
24 May 16 (1.96%)
(5.95%)
0.34%
17.71%
10.04%
-4.91%
-13.12%
6.84%
12.08%
(20.70%)
Apr 11 - Nov 12
24 May 16 (2.92%)
(8.34%)
1%
27.43%
15.25%
-7.15%
-18.64%
9.90%
18.82%
(29.84%)
Feb 04 - Apr 05
24 May 16 (2.30%)
(6.39%)
5.13%
22.4%
8.44%
4.21%
-0.1%
9.02%
10.50%
(10.54%)
May 15 - May 16
20 May 16 (3.04%)
(2.60%)
14.91%
32.59%
2.55%
16.69%
15.03%
(9.97%)
Feb 16 - May 16
20 May 16 (2.36%)
(6.00%)
15.06%
61.95%
-10.66%
-17.47%
-2.74%
12.97%
18.68%
(34.79%)
Feb 11 - Sep 13
20 May 16 (4.25%)
(3.45%)
2.28%
15.91%
-3.01%
7.19%
-4.95%
7.38%
12.08%
(12.69%)
Mar 15 - May 16
5,513.39 24 May 16 (4.79%)
(0.08%)
-8.73%
27.03%
11.1%
-6.71%
-2.25%
11.20%
14.33%
(16.95%)
Mar 15 - May 16
186.24
24 May 16 (7.18%)
(0.40%)
-13.76%
42.18%
16.7%
-10.82%
-4.08%
8.01%
22.43%
(25.28%)
Mar 15 - May 16
23,977.60 24 May 16
0.32%
5.66%
5.57%
17.65%
-6.02%
-5.5%
-6.39%
14.95%
17.90%
(25.65%)
May 89 - Oct 89
$2'690M
Apr 16
175.01
$803M
Apr 16
306.53
30 Apr 16 (2.34%)
(0.54%)
2.65%
17.14%
22.88%
11.04%
1.5%
9.91%
12.06%
(11.27%)
Dec 13 - Jul 14
25 May 16 (2.70%)
6.94%
4.22%
14.86%
9.31%
-22.39%
-16.7%
5.55%
18.77%
(52.73%)
Nov 08 - Oct 12

Source - HSBC
48
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Systematic/Global
SMN DIVERSIFIED FUTURES FUND 31 Oct 96
SMN Investment Services GmbH
SOLAISE SYSTEMATIC FUND LTD ( 31 May 11

S Class)
Ali Nejjar
TEWKSBURY INVESTMENT FUND, 31 Dec 90

LTD - B
Matthew Tewksbury
TRADELINK INTEGRATED
PROGRAM LTD
Alex Brockmann
31 Dec 93

Progressive Capital Partners Ltd
31 Mar 03
TWO SIGMA COMPASS CAYMAN

FUND
Two Sigma Investments, LP
31 Jul 09
WELTON GLOBAL DIRECTIONAL

PORTFOLIO
Welton Investment Partners
31 May 04
WINTON EVOLUTION FUND

David Harding
31 Aug 05
WINTON FUTURES FUND

David Harding
30 Sep 97
M
M
M
M
$68M
Feb 16
302.84
$350M
May 16
100.54
Date
MTD
Ytd Avg. 2016

(1.58%)
20 May 16 (1.23%)
(6.78%)
20 May 16 (1.00%)
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
0.9%
57.24%
-5.95%
-20.11%
-7.77%
7.57%
19.13%
Max
Drawdown1
(37.70%)
(10.17%)
3.18%
12.26%
1.84%
-0.15%
-4.97%
0.11%
12.04%
(13.98%)
Mar 15 - May 16
19,686.59 20 May 16 (3.00%)
$132M
Apr 16
2,605.42 20 May 16 (2.70%)
$315M
Mar 16
4,530.40 20 May 16 (9.37%)
$862M
Mar 16
2,786.43
$133M
Apr 16
226.49
$13'418M
Apr 16
2015
Dec 08 - Sep 13
$2'224M
Apr 16
$358M
Apr 16
YTD
6.71%
3.21%
7%
7.57%
3.53%
4.55%
12.45%
4.95%
(7.75%)
Jun 07 - Aug 07
(3.79%)
-6.78%
22.7%
7.76%
-6.33%
-21.27%
15.67%
21.82%
(36.53%)
May 03 - Jan 05
(0.84%)
-8.81%
36.15%
-0.01%
4.89%
-20.93%
12.18%
27.46%
(34.25%)
Feb 09 - Jan 10
30 Apr 16
0.61%
7.50%
15.02%
25.56%
14.07%
4.23%
2.33%
16.38%
8.77%
(9.85%)
Apr 11 - Sep 11
23 May 16 (3.50%)
2.31%
-1.91%
34.01%
-5.73%
-8.12%
-14.44%
7.06%
14.10%
(33.18%)
Feb 11 - Sep 13
1,669.30 25 May 16 (2.37%)
(6.22%)
0.74%
17.26%
14.56%
-8.31%
3.83%
4.89%
11.07%
(14.61%)
Jun 08 - Jul 09
989.51
25 May 16 (1.96%)
(4.11%)
0.93%
13.87%
9.4%
-3.56%
6.29%
13.07%
16.35%
(25.08%)
Oct 01 - Feb 02

Source - HSBC
49
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
11.2%
7.34%
1.85%
11.56%
15.09%
12.02%
Max
Drawdown1
Discretionary
Ytd Avg. 2016
(3.96%)
Discretionary/Asia
AMAZON MARKET NEUTRAL FUND 31 Aug 05
CLASS A USD
Philip King
$266M
Apr 16
448.00
Ytd Avg. 2016

(16.04%)
30 Apr 16 (0.79%) (16.04%)
26.27%
Discretionary/Europe
OYSTER MARKET NEUTRAL EUR
Syz Asset Management S.A.
31 Jul 09
261M
Mar 15
167.42
24 May 16
MARSHALL WACE - MW MARKET

NEUTRAL TOPS A USD
Anthony Clake.
31 Oct 07
MLIS - MARSHALL W. TOPS UCITS 31 Dec 07

FUND (MKT NTRL)
Marshall Wace LLP
$805M
May 16
319.81
$1'159M
May 16
194.26
$3'309M
Apr 16
139.94
20 May 16
30 Apr 02
EQUILIBRIA JAPAN FUND LTD 2X

(USD)
James Pulsford, Sara Gardiner-Hill
30 Apr 09
24 May 16
31 Mar 08
SCHRODER CAZENOVE UK
ABSOLUTE TARGET FUND - P2
GBP
Steven Cordell
30 Jun 08
10.72%
6.4%
-6.15%
1.62%
4.51%
(8.93%)
Ytd Avg. 2016

0.94%
0.96%
(1.81%)
-3.82%
1.57%
8.26%
9.2%
-4.11%
7.16%
5.48%
(10.73%)
1.95%
3.86%
19%
13.34%
18.78%
15.02%
3.18%
8.06%
6.37%
(15.98%)
Jun 08 - Nov 08
24 May 16
0.65%
0.76%
7.97%
6.39%
7.58%
6.07%
3.46%
4.08%
4.29%
(11.63%)
Jun 08 - Oct 08
$187M
Apr 16
242.61
$337M
Apr 16
153.71
20 May 16
Ytd Avg. 2016

(5.96%)
0.29%
(3.91%)
1.95%
4.6%
9.16%
-3.55%
-0.13%
6.50%
4.57%
(7.20%)
Jul 11 - Dec 12
20 May 16
0.54%
(8.02%)
3.19%
9.46%
19.7%
-6.6%
-0.5%
6.28%
8.59%
(13.42%)
Jul 11 - Dec 12
Discretionary/UK
ABSOLUTE INSIGHT UK EQUITY
MKT NEUTRAL FUND-CLASS B2P
GBP
Andrew Cawker, Iain Brown, Richard
Howarth
-0.18%
Jul 14 - Mar 16
Discretionary/Japan
EQUILIBRIA JAPAN FUND LTD 1X
USD
James Pulsford, Sara Gardiner-Hill
Ytd Avg. 2016

(8.35%)
0.64%
(8.35%)
5.18%
Dec 15 - Apr 16
Discretionary/Global
BLACK DIAMOND RELATIVE VALUE 31 Jul 99
LTD -C-Shs
Clint Carlson
(20.20%)
Jun 08 - Dec 08
783M
Sep 15
1.23
262M
Aug 15
124.60
25 May 16
Ytd Avg. 2016

(1.06%)
0.43%
(0.54%)
1.69%
0.6%
2.8%
3.49%
2.3%
2.49%
1.40%
(1.82%)
Feb 14 - May 14
25 May 16 (0.56%)
(1.58%)
5.24%
-3.98%
10.09%
4.08%
11.24%
2.82%
4.88%
(9.96%)
Sep 09 - Dec 10

Source - HSBC
50
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
11.39%
7.07%
-0.67%
2011
Ann.
Return
Ann.
Volatility
9.00%
11.17%
Max
Drawdown1
Diversified
Ytd Avg. 2016
4.56%
Diversified/Global
RENAISSANCE INSTITUTIONAL
DIVERSIFIED ALPHA FUND INTL.
L.P.,A
Renaissance Technologies LLC
28 Feb 12
$2'512M
Mar 16
143.96
20 May 16
Ytd Avg. 2016

4.56%
1.64%
4.56%
16.23%
(8.40%)
Mar 13 - Sep 13
Equity Diversified
Ytd Avg. 2016
(4.37%)
Equity Diversified/Asia
BLACKROCK PAN ASIA
31 Jul 10
OPPORTUNITIES FUND LTD CLASS
B
Jeff Shen, Ryan Kim, Ryan LaFond,
Jan Bratteberg
MACQUARIE ASIAN ALPHA FUND

Nick Bird
30 Sep 05
$723M
Apr 16
$1'300M
Apr 16
119.18
30 Sep 10
GAM TALENTUM ENHANCED

EUROPE LONG/SHORT - A Gianmarco Mondani / Roberto
Cantaluppi / Paolo Longinotti
30 Nov 04
GLG EUROPEAN EQUITY

30 Jun 11
ALTERNATIVE Class IN EUR
Pierre Lagrange, Simon Savage, Neil
Mason
MACQUARIE EUROPEAN ALPHA

FUND - CLASS A
Nick Bird, Andrew Alexander
31 Jul 12
1,762.59 13 May 16
612M
Sep 15
129.75
337M
Apr 16
289.94
$912M
Mar 16
112.97
$734M
Apr 16
130.15
$69M
Mar 16
7.13%
2.92%
9.6%
3.08%
5.83%
(12.85%)
0.40%
(5.86%)
-8.11%
10.4%
9.04%
4.41%
9.11%
7.11%
6.42%
(14.79%)
May 15 - Apr 16
Ytd Avg. 2016

(4.35%)
25 May 16 (0.18%)
(3.58%)
5.2%
4.9%
16.13%
-0.35%
-4.05%
4.15%
5.42%
(13.12%)
Mar 11 - May 12
20 May 16
1.74%
(6.91%)
18.3%
3.54%
15.83%
16.66%
2.91%
9.72%
8.80%
(25.03%)
Jun 08 - Apr 09
20 May 16
0.17%
(2.83%)
6.91%
-6.26%
7.23%
6.19%
1.87%
2.52%
4.85%
(10.37%)
Feb 14 - Oct 14
30 Apr 16 (2.03%)
(4.09%)
5.04%
9.62%
12.78%
5.11%
7.44%
4.58%
(4.57%)
Jan 16 - Apr 16
Equity Diversified/Global
MITRA CAPITAL MASTER FUND LP 30 Sep 12
David Lander
3.78%
Jul 15 - Apr 16
Equity Diversified/Europe
BLACKROCK EUROPEAN
DIVERSIFIED EQUITY A.R.F SHARE CLASS D
Robert Fisher/Simon Weinberger
13 May 16
Ytd Avg. 2016

(6.78%)
0.74%
(7.70%)
-1.91%
142.39
31 Mar 16
Ytd Avg. 2016

(2.00%)
1.60%
(6.33%)
43.43%
-12.55%
17.04%
3.55%
10.62%
21.13%
(20.68%)
Feb 14 - Dec 14

Source - HSBC
51
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Equity Diversified/Global
TWO SIGMA ABSOLUTE RETURN
CAYMAN FUND LTD
Two Sigma Advisers, LP
31 Oct 11
$1'062M
Mar 16
1,517.58
30 Apr 16
MTD
YTD
2015
Ytd Avg. 2016

(2.00%)
0.43%
2.33%
14.99%
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
10.09%
11.25%
4.03%
1.23%
9.71%
4.94%
Max
Drawdown1
(3.30%)
Jun 13 - Aug 13
Multi-Strategy
Ytd Avg. 2016
0.86%
Multi-Strategy/Asia
LIM ASIA MULTI-STRATEGY FUND
CLASS A
George W. Long
31 Dec 95
$970M
Apr 16
39.93
20 May 16
$2'204M
Mar 16
4.12%
5.63%
3.57%
-0.23%
7.02%
5.59%
(15.79%)
Feb 08 - Nov 08
HUDSON BAY INTERNATIONAL
31 May 06
FUND LTD
Hudson Bay Capital Management LP
Ytd Avg. 2016

0.91%
0.48%
0.91%
1.77%
229.00
30 Apr 16
Ytd Avg. 2016

0.81%
0.19%
0.81%
-1.91%
-2.08%
7.9%
11.37%
4.31%
8.71%
4.94%
(6.11%)
Feb 14 - Nov 15
Statistical Arbitrage
Ytd Avg. 2016
(0.87%)
Statistical Arbitrage/Global
A.R.T. INTERNATIONAL INVESTOR 28 Feb 07
(BVI) Ltd
Aaron Sosnick
GSA INTERNATIONAL FUND CLASS A

David Khabie-Zeitoune
28 Feb 05
$841M
Apr 16
248.46
$793M
Apr 16
285.93
Ytd Avg. 2016

(0.87%)
18 May 16 (0.93%)
1.23%
3.11%
9.83%
4.91%
5.67%
7.88%
10.37%
7.14%
(10.48%)
Jul 07 - Aug 07
20 May 16
1.66%
(2.96%)
11.41%
12.14%
13.28%
3.64%
15.2%
9.81%
4.40%
(11.91%)
Jun 08 - Sep 08
Systematic
Ytd Avg. 2016
(4.10%)
Systematic/Europe
BLACKROCK EOS CLASS B USD
COMPOSITE
Robert Fisher, Simon Weinberger
28 Feb 02
$431M
Apr 16
Ytd Avg. 2016

(3.64%)
1,561.87 24 May 16 (0.76%)
(3.64%)
5.08%
31 Jul 02
M/Q
$1'047M
Mar 16
20.08%
3.49%
-3.11%
8.80%
8.19%
(14.33%)
Jul 07 - Jan 08
Systematic/Global
BLACKROCK 32 CAPITAL MASTER
FUND SPC, LTD (THE) - B/1
Raffaele Savi and Ken Kroner
6.55%
2,079.91
Ytd Avg. 2016

(4.26%)
30 Apr 16 (1.68%)
(7.40%)
6.35%
-0.67%
8.02%
9.41%
24.92%
5.47%
7.43%
(25.15%)
Jun 08 - Sep 09

Source - HSBC
52
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Systematic/Global
BLUEMATRIX FUND CLASS -AUSD
Systematica Investments Limited
31 Oct 07
DACHARAN EQUITY FUND

Dacharan
31 Dec 13
$774M
Feb 16
169.02
$53M
Apr 16
1,273.99
20 May 16
MTD
YTD
Ytd Avg. 2016

(4.26%)
1.20%
(4.18%)
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
7.9%
10.4%
12.57%
-2.49%
-1.42%
6.32%
7.02%
Max
Drawdown1
(9.96%)
Apr 11 - Sep 11
30 Apr 16 (4.83%)
(1.19%)
9.66%
19.88%
11.88%
10.48%
(6.62%)
Jan 15 - Jun 15

Source - HSBC
53
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
2.63%
12.2%
12.04%
14.32%
13.20%
10.46%
Max
Drawdown1
Merger-Arbitrage
Ytd Avg. 2016
2.26%
Merger-Arbitrage/Global
ABRAX MERGER ARBITRAGE S.G.
FUND
Puzzle Capital, Xavier Robinson
30 Apr 11
GLAZER ENHANCED OFFSHORE

FUND LTD
Paul Glazer
31 Dec 98

Nick Walker
31 Jan 96
$82M
Apr 16
$473M
May 16
$32M
Apr 16
186.05
Ytd Avg. 2016

2.31%
30 Apr 16 (4.22%)
2.78%
22.74%
1,252.42 20 May 16
31 Aug 89
$138M
Apr 15
0.49%
2.96%
11.78%
5.91%
5.56%
5.34%
8.94%
15.64%
5.93%
(5.77%)
Oct 07 - Dec 07
37.89
30 Apr 16
3.21%
1.18%
8.52%
-8.29%
-5.17%
2.36%
4.6%
6.72%
9.43%
(34.07%)
Oct 07 - Feb 09
Merger-Arbitrage/USA
GABELLI ASSOCIATES LIMITED
Mario Gabelli
(11.84%)
May 12 - Oct 12
646.00
20 May 16
Ytd Avg. 2016

2.12%
0.42%
2.12%
3.14%
2.09%
3.12%
2.55%
3.03%
7.23%
3.20%
(6.65%)
Oct 07 - Oct 08

Source - HSBC
54
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
Ytd Avg. 2016

(1.68%)
0.71%
(5.41%)
2.48%
7.89%
20.57%
6.72%
2011
Ann.
Return
Ann.
Volatility
7.39%
4.32%
Max
Drawdown1
Credit
Ytd Avg. 2016
(1.12%)
Credit/Europe
CHENAVARI MULTI STRATEGY
CREDIT FUND - MS2
31 Jan 12
NUMEN CREDIT OPPORTUNITIES

FUND
Filippo Lanza
31 Oct 08
$513M
Mar 16
134.58
195M
Apr 16
448.16
31 Mar 16
30 Apr 16 (0.83%)
31 May 04
$1'413M
Apr 16
2.04%
1.79%
1.59%
12.47%
25.15%
-9.8%
22.14%
16.49%
(16.68%)
Oct 10 - Jan 12
Credit/Global
CANYON BALANCED FUND LTD
M.R. Julis & J.S. Friedman
(6.69%)
May 15 - Feb 16
3,278.91
30 Apr 16
Ytd Avg. 2016

0.01%
2.05%
0.01%
-8.4%
6.16%
19.99%
20.52%
-4.57%
10.47%
9.91%
(30.14%)
Oct 07 - Nov 08
Diversified
Ytd Avg. 2016
0.03%
Diversified/Asia
PHALANX JAPAN AUSTRALASIA
MULTI-STRATEGY FUND LTD
Christopher S. McGuire
31 Mar 05
SEGANTII ASIA-PACIFIC EQUITY

MULTI-STRATEGY FUND
Simon Sadler & Kurt Ersoy
30 Nov 07
$43M
Mar 16
1,440.80
$1'723M
Apr 16
379.10
31 Mar 16
30 Jun 99
$950M
Mar 16
30 Jun 06
ARROWGRASS MASTER FUND

Nick Niell , Henry Kenner
31 Jan 08
ATLAS ENHANCED FUND LTD

Dmitry Balyasny
28 Feb 11
M
Q
M
12.82%
11.48%
4.79%
27.42%
25.19%
(30.13%)
20 May 16 (0.95%)
0.36%
29.51%
34.88%
-1.68%
4.81%
40.75%
17.02%
9.90%
(10.16%)
May 13 - Mar 14
2,175.10 15 May 16
Ytd Avg. 2016

5.29%
1.24%
5.29%
7.08%
-3.57%
3.4%
20.68%
-9.29%
20.00%
11.56%
(33.18%)
May 08 - Feb 09
Diversified/Global
AHL DIMENSION
Tim Wong, Nick Granger
-12.87%
Apr 06 - Mar 07
SPINNAKER GLOBAL EMERGING
MARKETS FUND, LTD
Alexis Habib
Ytd Avg. 2016

1.76%
0.73%
3.17%
10.23%
$4'600M
Mar 16
1.04
4'405M
Apr 16
173.70
$7'300M
Mar 16
149.47
Ytd Avg. 2016

(0.26%)
20 May 16 (0.81%)
(0.69%)
6.94%
16.33%
2.64%
2.6%
-5.83%
5.92%
9.04%
(10.63%)
Dec 08 - Jan 10
20 May 16
1.00%
(1.30%)
6.13%
2.89%
8.58%
5.6%
0.12%
6.87%
4.11%
(3.99%)
Apr 11 - Sep 11
20 May 16
0.55%
(3.75%)
5.93%
13.73%
20.85%
12.61%
-5.28%
7.99%
7.91%
(13.44%)
Jul 11 - Apr 12

Source - HSBC
55
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Diversified/Global
ATLAS GLOBAL INVESTMENTS
LTD UNRESTRICTED
Dmitry Balyasny
31 Dec 03
BLACK DIAMOND, LTD - CLASS B

(UNRESTRICTED)
Clint D. Carlson
31 Dec 95
BLACKROCK MULTI-STRATEGY
FUND LTD - CLASS A
Matt McBrady
30 Apr 05
BLACKROCK CAPITAL
31 Dec 08
STRUCTURE INVESTMENTS FUND
LTD
Chad Meuse, Benoy Thomas
BOUSSARD & GAVAUDAN

HOLDING LTD ordinary shares
Emmanuel Gavaudan
31 Oct 06
BREVAN HOWARD M/S FUND, LTD 29 Feb 08

CL. A/USD
Alan Howard
BRUMMER MULTISTRATEGY 2XL,

LTD - C Klaus Jntti, Patrik Brummer
30 Apr 09
CQS DIRECTIONAL OPP. FEEDER

FUND. Ltd A NI USD
Michael Hintze
31 Jul 05
CQS DIVERSIFIED FUND (SPC) LTD 28 Feb 07

ALPHA CLASS B USD
James Peattie & Peter Warren
DOUBLE BLACK DIAMOND LTD SERIES A (UNRESTRICTED)

Clint Carlson
31 Mar 98
GLG MARKET NEUTRAL FUND CLASS Z USD Unres

Steve Roth
31 Dec 97
HALCYON PARTNERS OFFSHORE 31 May 04

FUND LTD
Jason Dillow
$3'600M
Mar 16
3,897.72 20 May 16
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(0.26%)
0.30%
(2.94%)
2.45%
7.2%
12.94%
4.84%
4.76%
11.60%
8.00%
Max
Drawdown1
(12.51%)
Jun 04 - Aug 04
$73M
May 16
340.06
$1'030M
Apr 16
1,535.54
$436M
Mar 16
132.65
515M
Apr 16
21.85
$2'187M
Apr 16
126.86
20 May 16
2.74%
0.96%
-0.89%
4.91%
6.18%
10.23%
-2.13%
6.18%
4.05%
(18.64%)
Aug 08 - Dec 08
30 Apr 16 (0.24%)
(3.35%)
1.67%
2.07%
7.04%
7.86%
2.43%
3.97%
5.26%
(13.96%)
Jun 08 - Dec 08
30 Apr 16 (2.76%)
(5.39%)
12.3%
-5.21%
7.19%
3.74%
22.94%
3.93%
9.06%
(13.18%)
Feb 14 - Jun 15
23 May 16
1.30%
5.80%
15.65%
6.85%
13.6%
9.45%
-2.58%
8.51%
6.70%
(20.69%)
May 07 - Sep 08
30 Apr 16 (0.81%)
(0.29%)
-2.39%
1.13%
0.91%
4.61%
5.2%
2.95%
4.62%
(6.29%)
Feb 08 - Sep 08
$1'415M
Apr 16
1,372.77 13 May 16 (0.40%)
$3'009M
Apr 16
4,924.65
$1'366M
Apr 16
1,698.86
$2'864M
May 16
435.87
$589M
Mar 16
876.56
$260M
Oct 15
199.56
(7.53%)
2.5%
1.86%
15.02%
3.57%
1.02%
4.60%
7.50%
(12.92%)
Mar 15 - May 16
30 Apr 16
3.23%
11.55%
-7.97%
3.12%
15.97%
35.87%
-10.42%
15.98%
14.07%
(24.58%)
Apr 11 - Sep 11
30 Apr 16
2.03%
2.66%
-2.63%
1.18%
5.99%
11.4%
-3.45%
5.94%
6.48%
(14.78%)
Jun 08 - Dec 08
20 May 16
2.02%
1.58%
0.64%
4.45%
7.74%
10.94%
-2.67%
8.45%
5.25%
(19.30%)
Aug 08 - Dec 08
20 May 16
1.10%
1.68%
-0.23%
-7.43%
10.3%
18.4%
0.78%
12.52%
14.07%
(54.03%)
Nov 07 - Dec 08
20 May 16
1.05%
18.61%
-5.73%
-2.88%
7.4%
11.24%
-5.91%
5.94%
6.90%
(15.01%)
Oct 07 - Dec 08

Source - HSBC
56
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Diversified/Global
HIGHBRIDGE CAPITAL
31 Aug 92
CORPORATION CLASS -A-Series N
(Composite)
Mark Vanacore
HUTCHIN HILL DIVERSIFIED
ALPHA MASTER FUND LTD 15%
Incentive Allocation
Neil Chriss
30 Jun 08
Q/Y
JABCAP GLOBAL BALANCED FUND 30 Apr 07

LTD CLASS D/1 NI
Philippe Jabre
JABCAP MULTI STRATEGY FUND

LTD CLASS D/1 NI
Philippe Jabre
31 Jan 07
LINDEN INTERNATIONAL LTD

Joe Wong
31 May 03
LMR FUND LTD

LMR Partners LLP, LMR Partners
Limited
31 Jan 10
MAN GLG MULTI-STRATEGY

CLASS MUS D140 USD
Neil Mason and David Kingsley
31 May 12
Q
M
MAN GLG MULTI-STRATEGY FUND 31 Dec 02

CLASS G USD
Neil Mason and David Kingsley
MILLENNIUM INTL LTD

Israel A Englander
31 Dec 89
PALOMA INTERNATIONAL LTD

CLASS A
Donald Sussman
31 Dec 02
PINE RIVER FUND CLASS -B1SHARES

Aaron Yeary, James Clark
31 May 02
PLATINUM PARTNERS VALUE

ARBITRAGE INT. FUND LTD
Mark Nordlicht
31 Dec 02
QVT OFFSHORE LTD CLASS 1-NR

Dan Gold
31 Oct 03
Q/Y
Q/Y
$1'097M
Jan 16
97,459.61 30 Apr 16
$3'737M
May 16
1,873.71 20 May 16
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
Ytd Avg. 2016

(0.26%)
0.85%
0.64%
2.92%
6.16%
6.5%
9.79%
-5.11%
10.09%
6.80%
Max
Drawdown1
(30.04%)
Jun 08 - Nov 08
0.41%
1.19%
-5.2%
9.69%
19.38%
11.06%
-4.92%
8.28%
5.93%
(8.52%)
Mar 15 - Feb 16
$366M
Apr 16
185.75
$379M
Apr 16
134.61
$1'050M
Apr 16
357.00
$1'147M
Apr 16
257.60
$229M
Mar 16
103.26
$92M
Mar 16
107.19
$33'180M
Apr 16
3,183.79
$2'532M
Apr 16
308.61
$3'599M
May 16
3,508.03
$708M
Apr 16
8,318.61
$1'603M
Mar 16
2,684.14
17 May 16 (3.61%)
(16.90%)
-3.93%
2.01%
47.8%
15.5%
-27.33%
7.08%
15.56%
(35.04%)
Apr 10 - Jun 12
13 May 16 (2.29%)
(13.74%)
-0.74%
-3.04%
43.03%
11.8%
-25.65%
3.25%
17.29%
(40.20%)
Feb 08 - Jan 09
30 Apr 16
1.73%
0.46%
2.82%
12.43%
16%
4.11%
-7.86%
10.35%
9.01%
(24.60%)
Feb 08 - Dec 08
20 May 16
0.75%
2.12%
14.72%
2.22%
10.04%
8.09%
38.69%
16.19%
9.09%
(9.53%)
Apr 10 - May 10
20 May 16 (0.18%)
(3.90%)
1.98%
-0.97%
4.73%
1%
0.66%
3.42%
(6.77%)
Apr 15 - May 16
20 May 16
1.00%
(2.79%)
5.91%
-0.92%
5.08%
4.98%
-3.59%
4.21%
6.94%
(30.54%)
Oct 07 - Dec 08
30 Apr 16
1.37%
(2.73%)
12.54%
12.09%
13.27%
6.32%
8.39%
14.02%
4.40%
(7.24%)
May 98 - Aug 98
30 Apr 16 (0.09%)
1.14%
10.78%
5.06%
16.02%
8.43%
-2.83%
8.81%
4.76%
(6.83%)
Jul 11 - Dec 11
30 Apr 16
2.30%
(2.98%)
-2.75%
4.57%
9.58%
21.75%
5.7%
9.43%
9.96%
(29.16%)
Jun 08 - Dec 08
30 Apr 16
4.98%
7.79%
8.76%
10.76%
7.12%
11.58%
21.03%
17.21%
5.51%
(4.44%)
Aug 08 - Oct 08
31 Mar 16
0.31%
(0.45%)
17.74%
-2.3%
1.39%
14.69%
6.55%
8.27%
9.36%
(40.35%)
Feb 08 - Dec 08

Source - HSBC
57
Inception Liquidity
Date
Asset
Size
Diversified/Global
STRATUS FUND LIMITED CLASS B 30 Nov 03
Jean-Philippe Bouchaud, Philippe
Jordan, Marc Potters, Jacques
Sauliere
VERITION MULTI-STRATEGY FUND 29 Feb 08

COMPOSITE MODIFIED
INTERESTS,OPT-IN
Verition Fund Management LLC
VISIUM GLOBAL OFFSHORE FUND 31 Mar 09

LTD
Jacob Gottlieb
WEISS MULTI-STRATEGY
PARTNERS LLC
Weiss Multi-Strategy Advisers,LLC
30 Sep 06
$262M
Apr 16
Last NAV
or Index
Date
31 Oct 04
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
14.58%
1.82%
-2.89%
15.63%
8.34%
6.01%
Max
Drawdown1
(10.52%)
Feb 12 - Sep 13
$361M
Apr 16
308.46
$1'542M
Feb 16
335.01
$524M
Apr 16
188.31
$220M
Apr 16
YTD
Ytd Avg. 2016

(0.26%)
2,717.90 20 May 16 (1.57%)
0.95%
13.54%
30 Apr 16
0.71%
1.42%
14.25%
10.56%
24.79%
13.62%
1.18%
14.78%
6.95%
(7.89%)
May 11 - Sep 11
20 May 16
2.37%
(3.01%)
10.28%
0.79%
16.99%
19.52%
1.75%
18.44%
9.44%
(7.80%)
Apr 10 - Jun 10
20 May 16
0.52%
4.79%
-0.86%
-0.01%
14.64%
1.75%
-0.15%
6.78%
6.24%
(17.75%)
Jun 08 - Dec 08
Diversified/Japan
LIM JAPAN FUND
George Long
MTD
211.15
20 May 16
Ytd Avg. 2016

0.73%
0.59%
0.73%
-0.37%
5.85%
11.39%
5.62%
2.73%
6.68%
5.44%
(10.09%)
Jun 08 - Feb 09

Source - HSBC
58
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2015
2014
2013
2012
2011
Ann.
Return
Ann.
Volatility
5.5%
0.36%
7.56%
12.24%
7.67%
9.02%
6.19%
Max
Drawdown1
Arbitrage
Ytd Avg. 2016
2.24%
Arbitrage/Global
BLUEMOUNTAIN EQUITY
ALTERNATIVES FUND
28 Feb 06
CASSIOPEIA FUND CLASS C

Pierre de Saab & Alain Dos Santos
31 Jul 04
PIMCO MULTI-ASSET VOLATILITY

FUND LTD
Josh Thimons
31 Jul 11
M
M
$583M
Apr 16
2,419.97 20 May 16
Ytd Avg. 2016

2.24%
0.89%
2.87%
(9.57%)
Sep 08 - Feb 09
263M
Apr 16
241.71
$972M
Apr 16
138.81
20 May 16
2.24%
4.64%
4.75%
-4.16%
0.53%
24.85%
6.52%
10.06%
9.08%
(15.42%)
Mar 10 - Jun 10
30 Apr 16
1.04%
(0.78%)
7.73%
1.39%
-6.17%
13.41%
20.36%
7.14%
7.05%
(8.64%)
Oct 12 - Aug 13

Source - HSBC
59
This document is provided to you by HSBC Private Bank, a division of HSBC Bank USA, N.A. (the Bank), for informational purposes and is not a
recommendation, offer or solicitation to purchase or sell any product, security, commodity, currency or other instrument. This document does not consider
your specific objectives, circumstances or needs, does not provide legal or tax advice, and does not identify or define all the risks that may be associated
with investing in hedge funds or any investment. Prior to making an investment decision, you should consult with your own legal, financial, tax, accounting
and other professionals regarding the appropriateness of investing in any product, security, commodity, currency or other instrument. No person is
authorized to use this document for any purpose other than the purpose stated above.
The information contained in this document is derived from a variety of sources we believe to be reliable; however, we cannot guarantee its accuracy or
completeness, nor shall we be liable for any incidental or consequential losses or damages including, but not limited to, errors (including errors of
transmission), inaccuracies, omissions, changes in market factors or conditions, or any other circumstances beyond our control. The information, analysis
and opinions contained herein constitute our present judgment, which is subject to change at any time without notice. The information contained herein is
confidential and intended solely for the use of the client or prospective client to whom it has been delivered. It is not to be produced or distributed to any
other person except to the clients professional advisors. Third party information obtained in this document may have been obtained from various
published and unpublished sources. Past performance is not a reliable indicator of future results.
In the United States, HSBC Private Bank offers banking services through HSBC Bank USA, N.A., member FDIC, and HSBC Private Bank International,
and provides securities and brokerage services through HSBC Securities (USA) Inc.
Where this document is distributed by HSBC Securities USA Inc. please note that alternative investments are generally intended
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loss of all or a substantial portion of the investment;
Increase risk of loss due to leveraging;
short-selling, or other speculative investment practices;
lack of liquidity in that there may be no secondary market for the fund and none expected to develop;
volatility of returns;
prohibitions and/or material restrictions on transferring interests in the fund;
absence of information regarding valuations and pricing;
delays in tax reporting;
less regulation and higher fees than mutual funds;
key man and advisor risk;
limited or no transparency to underlying investments;
and limited or no regulatory oversight.
HSBC Securities USA Inc. has not undertaken the verification of this document, and make no express or implied representation about the accuracy, completeness, sufficiency, value or
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Securities and funds are provided by Registered Representatives of HSBC Securities (USA) Inc., member NYSE/FINRA/SIPC, a registered Futures
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Funds and other securities are not FDIC insured nor insured by any other government agency, are not deposits or other obligations of HSBC
Bank USA, N.A. and are not guaranteed by HSBC Bank USA, N.A.; they are subject to investment risk including, but not limited to, the possible
loss of principal amount invested.
HSBC Private Bank is the principal private banking business of the HSBC Group. Private Banking may be carried out internationally by different HSBC
legal entities according to local regulatory requirements. Different companies may provide the services listed in this document within HSBC Private Bank
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Further details are available on request. A complete list of private banking entities is available on our website, www.hsbcprivatebank.com.
Copyright. HSBC Bank USA, N.A 2013 ALL RIGHTS RESERVED
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HSBC Hedge Weekly N22

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Hedge Weekly N22

Investment Funds Performance Review

HSBC Alternative Investment Group

Alternative Investment Products are:

NOT FDIC INSURED

About This Document

Past performance is not a reliable indicator of future performance.

HSBC Alternative Investment Group

Fixed Income Arbitrage

HSBC Alternative Investment Group

ANAVON MASTER FUND LTD CLASS -

BLACKROCK EUROPEAN DIVERSIFIED

CANYON BALANCED FUND LTD

ANDALUSIAN CORPORATE OPPORTUNI

BLACKROCK FIXED INCOME GLOBAL

CANYON VALUE REALIZATION FD, L

ANDURAND COMMODITIES FUND

BLACKROCK OBSIDIAN FUND

CAPEVIEW AZRI 2X FUND

ANTARES EUROPEAN FUND, LTD - U

BLACKROCK PAN ASIA OPPORTUNITI

CAPEVIEW AZRI FUND

APERIOS EMERGING CONNECTIVITY

BLACKROCK UK EQUITY HEDGE FUND

CAPEVIEW RECOVERY FUND

AQUILUS INFLECTION FUND LTD E

BLUEBAY CREDIT ALPHA LONG SHOR

CAPITAL FOUR CREDIT OPPORTUNIT

A.R.T. INTERNATIONAL INVESTOR

BLUEBAY EMERGING MARKET CORPOR 13

CAPULA GLOBAL RELATIVE VALUE F

AAM ABSOLUTE RETURN FUND

ARCTIC BLUE CAPITAL 3X

BLUEBAY EMERGING MARKET OPPORT

CASSIOPEIA FUND CLASS C

ABACO FINANCIALS FUND

ARISTEIA INTERNATIONAL LTD

BLUEBAY EVENT DRIVEN CREDIT FU

CAXTON GLOBAL INVESTMENT LTD

ABRAX MERGER ARBITRAGE S.G. FU

ARROWGRASS MASTER FUND

BLUEMATRIX FUND CLASS -A- USD

CCI HEALTHCARE PARTNERS LTD

ABSOLUTE INSIGHT CREDIT FUND B

ASCEND PARTNERS FUND II LTD -

BLUEMOUNTAIN CREDIT ALTERNATIV

CCI MICRO HEALTHCARE PARTNERS

ABSOLUTE INSIGHT EMERGING MARK

ASGARD FIXED INCOME FUND LTD

BLUEMOUNTAIN EQUITY ALTERNATIV

CERBERUS INTL. LTD CLASS A A/

ABSOLUTE INSIGHT UK EQUITY MKT

ASPECT DIVERSIFIED FUND - CLAS

BLUEMOUNTAIN LONG SHORT EQUITY

CHENAVARI CORPORATE CREDIT STR

ADELPHI EUR. FUND $ (A)

ATLAS ENHANCED FUND LTD

BLUETREND FUND, LTD -USD- CLAS

CHENAVARI MULTI STRATEGY CREDI

ATLAS FUNDAMENTAL TRADING FUND

BNY MELLON ARX BRAZIL FUND SPC

CHENAVARI REGULATORY CAPITAL S

ADVENT GLOBAL PARTNERS

ATLAS GLOBAL INVESTMENTS LTD U