HSBC - 12-18-2015

Hedge Weekly N51
Investment Funds Performance Review
HSBC Alternative Investment Group

Week of Monday 14 Dec to Friday 18 Dec 2015
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
13
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
31
31
31
32
32
33
Event Driven
Equity-Diversified
Merger-Arbitrage
Multi-Strategy
34
34
34
Currency
Systematic
47
50
Market Neutral
Discretionary
Equity Diversified
Multi-Strategy
Statistical Arbitrage
Systematic
51
52
52
53
53
Merger Arbitrage
Merger-Arbitrage
54
Multi-Strategy
Credit
Diversified
55
55
Volatility Arbitrage
Arbitrage
Fixed Income Arbitrage

Fixed Income
41
41
42
46
46
Managed Futures
Distressed
Distressed Security
Commodity-Systematic
Currency
Diversified
Fixed Income
Systematic
59
37
Fund of Funds
Arbitrage
Event Driven
Macro
Multi-Strategy
Trading
38
38
38
39
39
Long Only
Equity-Diversified
40
Macro
Commodity
Source - HSBC
41
4
400 CAPITAL CREDIT OPPORTUNITI
18
ALPHAGEN VOLANTIS FUND, LTD -
31
BLACKROCK 32 CAPITAL MASTER FU
53
CANDLEWOOD STRUCTURED CREDIT F
ALTAI CAPITAL PARTNERS OFFSHOR
34
BLACKROCK CAPITAL STRUCTURE IN
56
CANDLEWOOD STRUCTURED CREDIT H 15
15
AMAZON MARKET NEUTRAL FUND CLA
51
BLACKROCK EUROPEAN DIVERSIFIED
52
CANOSA GLOBAL MACRO FUND LTD
ANAVON MASTER FUND LTD CLASS -
25
BLACKROCK FIXED INCOME GLOBAL
37
CANTAB CAPITAL PARTNERS QUANTI
48
ANDALUSIAN CORPORATE OPPORTUNI
34
BLACKROCK OBSIDIAN FUND
37
CANYON BALANCED FUND LTD
55
ANDURAND COMMODITIES FUND
41
BLACKROCK PAN ASIA OPPORTUNITI
52
CANYON VALUE REALIZATION FD, L
19
43
A.R.T. INTERNATIONAL INVESTOR
53
ANTARES EUROPEAN FUND, LTD - U
22
BLACKROCK UK EQUITY HEDGE FUND
28
CAPEVIEW AZRI 2X FUND
23
ABACO FINANCIALS FUND
30
APERIOS EMERGING CONNECTIVITY
22
BLUEBAY CREDIT ALPHA LONG SHOR
15
CAPEVIEW AZRI FUND
23
ABRAX MERGER ARBITRAGE S.G. FU
54
AQUILUS INFLECTION FUND LTD E
23
BLUEBAY EMERGING MARKET CORPOR 13
CAPEVIEW RECOVERY FUND
13
ABSOLUTE INSIGHT CREDIT FUND B
13
ARISTEIA INTERNATIONAL LTD
15
BLUEBAY EMERGING MARKET OPPORT
13
CAPITAL FOUR CREDIT OPPORTUNIT
14
ABSOLUTE INSIGHT EMERGING MARK
13
ARROWGRASS MASTER FUND
55
BLUEBAY EVENT DRIVEN CREDIT FU
19
CAPULA GLOBAL RELATIVE VALUE F
37
ABSOLUTE INSIGHT UK EQUITY MKT
51
ASCEND PARTNERS FUND II LTD -
28
BLUEMATRIX FUND CLASS -A- USD
53
CARLYLE LIQUID TACTICAL FUND
25
ACUITY CORPORATE OPPORTUNITY F
18
ASGARD FIXED INCOME FUND LTD
15
BLUEMOUNTAIN CREDIT ALTERNATIV
15
CARLYLE TREND FOLLOWING FUND
48
ADELPHI EUR. FUND $ (A)
22
ASPECT DIVERSIFIED FUND - CLAS
47
BLUEMOUNTAIN EQUITY ALTERNATIV
59
CASSIOPEIA FUND CLASS C
59
ADRIGO HEDGE
22
ATLAS ENHANCED FUND LTD
55
BLUEMOUNTAIN LONG SHORT EQUITY
25
CAXTON GLOBAL INVESTMENT LTD
43
ADVENT HEDGED CONVERTIBLE STRA
12
ATLAS FUNDAMENTAL TRADING FUND
25
BLUETREND FUND, LTD -USD- CLAS
47
CCI HEALTHCARE PARTNERS LTD
31
AG MORTGAGE VALUE PARTNERS LTD
15
ATLAS GLOBAL INVESTMENTS LTD U
56
BNY MELLON ARX BRAZIL FUND SPC
22
CCI MICRO HEALTHCARE PARTNERS
31
AG SUPER FUND INTERNATIONAL, L
34
ATREAUS OVERSEAS FUND LTD
43
BORONIA DIVERSIFIED FUND MASTE
47
CERBERUS INTL. LTD CLASS A A/
19
AHL EVOLUTION
47
AXONIC CREDIT OPPORTUNITIES OV
15
BOUSSARD & GAVAUDAN HOLDING LT
56
CHENAVARI CORPORATE CREDIT STR
15
AHL ALPHA
47
AXONIC SYSTEMATIC ARBITRAGE OV
37
BREVAN HOWARD ASIA FUND LIMITE
42
CHENAVARI MULTI STRATEGY CREDI
55
AHL DIMENSION
55
BREVAN HOWARD FUND, LTD - USD
43
CHENAVARI REGULATORY CAPITAL S
14
AHL DIVERSIFIED
47
BREVAN HOWARD M/S FUND, LTD
56
CHENAVARI TORO LIMITED
14
AJR INTERNATIONAL (BVI), INC.
28
BREVAN HOWARD SYSTEMATIC TRADI
47
CLAREANT STRUCTURED CREDIT OPP
15
AKAMATSU FUND
27
BRIGADE LEVERAGED CAPITAL STRU
18
CLAREANT STRUCTURED CREDIT OPP
15
ALCENTRA GLOBAL SPECIAL SITUAT
15
BRUMMER MULTISTRATEGY 2XL, LTD
56
COBALT OFFSHORE LTD
29
ALLBLUE LIMITED
55
BTG PACTUAL GLOBAL EM. MKTS AN
43
COHERENCE CAPITAL SPECTRUM FUN
15
ALLIANCE BERNSTEIN SELECT US E
28
ALPHA4X CAPITAL GROWTH FUND
42
ALPHADYNE INVESTMENT STRATEGIE
42
ALPHAGEN HOKUTO FUND LTD - CLA
27
ALPHAGEN JAPAN ABS RETURN FD,
27
ALPHAGEN OCTANIS CLASS A
28
B
BAF LATAM TRADE FINANCE FUND
13
BASSO INVESTORS LTD
12
BAY RESOURCES PARTNERS OFFSHOR 29

BCM WESTON LP (BILLINGS CAPITA
29
BEACH POINT TOTAL RETURN OFFSH
18
BEACONLIGHT OFFSHORE FUND LTD
25
BLACK DIAMOND RELATIVE VALUE L
51
CAIRN SPECIAL OPPORTUNITIES CR
13
BLACK DIAMOND, LTD - CLASS B (
56
CAMPBELL GLOBAL ASSETS FUND LT
47
BLACKROCK EOS CLASS B USD COM
53
CAMPBELL GLOBAL ASSETS FUND LT
47
BLACKROCK MULTI-STRATEGY FUND

Source - HSBC
COMMONWEALTH OPPORTUNITY CAYMA 43
56
CANDLEWOOD SPECIAL SITUATIONS
19
CONQUEST MACRO FUND, LTD (COMP
48
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
ELECTRON GLOBAL FUND, L.P.
33
GIM PORTFOLIO STRATEGIES Eur
23
HARMONIC ALPHA PLUS MACRO FUN
44
CQS DIRECTIONAL OPP. FEEDER FU
56
ELEMENT CAPITAL FUND
43
GLADE BROOK GLOBAL OFFSHORE FU
26
HARNESS MACRO CURRENCY FUND
41
CQS DIVERSIFIED FUND (SPC) LTD
56
ELLINGTON CREDIT OPPORTUNITIES
16
GLAZER ENHANCED OFFSHORE FUND
54
HARVEY PARTNERS LLC
32
CRABEL FUND SPC LTD CLASS A
48
ELLINGTON MORTGAGE OPPORTUNITI
16
GLENVIEW CAPITAL PARTNERS (CAY
29
HIGHBRIDGE CAPITAL CORPORATION
57
CYGNUS UTILITIES, INFRASTRUCTU
33
ELM RIDGE CAPITAL PARTNERS L.P
29
GLG CROSS ASSET VALUE OFFSHORE
14
HIGHER MOMENT AURORA FUND,LP
46
EPISODE INC. CLASS A
43
GLG EUROPEAN EQUITY ALTERNATIV
52
HIGHER MOMENT CAPITAL OPPORTUN
46
EQUILIBRIA JAPAN FUND LTD 1X U
51
GLG EUROPEAN LONG SHORT FUND C
23
HORSEMAN GLOBAL FUND USD
26
EQUILIBRIA JAPAN FUND LTD 2X (
51
GLG MARKET NEUTRAL FUND - CLAS
56
HSBC CREDIT MARKET OPPORTUNITI
38
EURO MANAGED CURRENCY PLUS FUN 41
GLOBAL FOCUSSED STRATEGIES FUN
56
HSBC GH FUND USD
39
EXANE ARCHIMEDES FUND CLASS A
32
GOLDEN CHINA FUND NR CLASS
21
HSBC LEVERAGED GH FUND
39
EXANE TEMPLIERS FUND
25
GRAHAM ABSOLUTE RETURN TRADING
44
HSBC MAA FUND USD
38
GRAHAM GIF II PROPRIETARY MATR
48
HSBC SPECIAL OPPORTUNITIES FUN
38
GRAHAM GLOBAL INVESTMENT FUND
44
HSBC TRADING ADVANTEDGE FUND
39
48
HSBC UCITS ADVANTEDGE FUND -US
39
48
HUDSON BAY INTERNATIONAL FUND
53
49
HUTCHIN HILL DIVERSIFIED ALPHA
57
GRAHAM GLOBAL INVESTMENT FUND-
44
GRANADA EUROPE FUND LTD
23
GRATICULE ASIA MACRO FUND
42
GREEN FUND LLC - CLASS I
42
GREEN T G2 FUND
16
GREENLIGHT CAPITAL OFFSHORE, L
29
GREYWOLF CAPITAL OVERSEAS FUND
35
GSA INTERNATIONAL FUND - CLASS
53
GSA TREND RISK PREMIA FUND
49
D
DAVIDSON KEMPNER DIST. OPP. IN
19
DAVIDSON KEMPNER INTL, LTD - C
35
DB PLATINUM IV DBX SYSTEMATIC
48
DB PLATINUM IV MW HELIUM
48
DIAMOND CAPITAL MANAGEMENT
38
DISCUS FEEDER LTD CL. B USD ST
48
DORSET ENERGY FUND, LTD - CLAS
30
FARRINGDON ALPHA ONE
25
DOUBLE BLACK DIAMOND LTD - SER
56
FINISTERRE CREDIT FUND
13
DROMEUS GLOBAL OPPORTUNITIES F
35
FINISTERRE GLOBAL OPPORTUNITY
42
DUET EM FRONTIER FUND
22
FIREBIRD NEW RUSSIA FUND, LTD
28
DUET GLOBAL PLUS FUND
25
FIREBIRD REPUBLICS FUND, LTD
22
DUNN WMA FUND, SA
48
FJ CAPITAL FINANCIAL OPPORTUNI
29
DUNN WMA INSTITUTIONAL UCITS F
48
DW CATALYST OFFSHORE FUND -A -
16
DW VALUE OFFSHORE FUND LTD
16
DYMON ASIA MACRO FUND (SERIES
41
FORT GLOBAL DIVERSIFIED

FORTRESS MACRO FUND LTD. CLAS
44
G
GABELLI ASSOCIATES LIMITED
48
54
GAM DIVERSITY I INC - US$ CLAS
38
EAGLE DIRECTIONAL MACRO
46
GAM GLOBAL RATES HEDGE FUND
44
EAGLE GLOBAL
48
GAM TALENTUM ENHANCED EUROPE L
52
EAGLE QUANTITATIVE MACRO
46
GAM TRADING II USD
39
ECLECTICA FUND CLASS A EURO (T
43
GAMUT INVESTMENTS
44
ECOFIN VISTA LONG SHORT FUND
25
GAVEA FUND LTD . CLASS A S/1
42
EIFFEL CREDIT OPPORTUNITIES FU
14
GEMS PROGR. FUND SICAV RECOVER

Source - HSBC
38
I
III FUND LTD
37
III RELATIVE VALUE CREDIT STRA
37
III SELECT CREDIT FUND LTD CLA
16
IP ALL SEASONS ASIAN CREDIT FU
13
ISAM SYSTEMATIC TREND FUND CLA
49
IVORY CAPITAL FLAGSHIP STRATEG
29
IVORY OPTIMAL FUND LTD
29
HABROK LTD
26
HALCYON OFF. ASSET-BACKED VALU
20
HALCYON PARTNERS OFFSHORE FUND 57

HALKIN ACCURATE FX INCOME INDE
46
HARBOUR HOLDINGS LTD
32
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
31
K
KEYNES LEVERAGED QUANTITATIVE
KG INVESTMENT FUND LLC
49
35
LUCIDUS LEVERAGED CREDIT FUND
16
MILLBURN COMMODITY PROGRAM
41
LYNX (BERMUDA) LTD
49
MILLBURN DIVERSIFIED PROGRAM
49
LYNX BERMUDA 1.5 LTD
49
MILLENNIUM INTL LTD
57
MKP CREDIT OFFSHORE FUND
16
MKP ENHANCED OPPORTUNITY OFFSH
44
MKP OPPORTUNITY OFFSHORE, LTD
44
MLIS - BEACH POINT DIVERSIFIED
16
MLIS - CCI HEALTHCARE LONG SHO
31
MLIS - GRAHAM CAPITAL SYSTEMAT
49
MLIS - MARSHALL W. TOPS UCITS
51
MLIS - OZ EUROPE UCITS FUND CL
34
MLIS - THEOREMA EUROPEAN EQUIT
24
MLM MACRO PEAK PARTNERS OFFSH
44
MOAB PARTNERS OFFSHORE FUND LT
36
MOJNA ALPHA LEVERAGED MASTER F
24
MOJNA ALPHA MASTER FUND - EUR
24
MONARCH DEBT RECOVERY FUND LTD
19
MONEDA LATIN AMERICAN CORPORAT
13
MOORE GLOBAL INV FD, LTD - A $
44
MOORE MACRO MANAGERS FUND, LTD
45
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
52
KITE LAKE (KL) SPECIAL OPPORTU
35
MACQUARIE EUROPEAN ALPHA FUND
52
KLS DIVERSIFIED FUND LTD
37
L
LANSDOWNE EUROPEAN EQUITY FD,
23
LANSDOWNE GLOBAL FINANCIALS FU
30
LAZARD GLOBAL HEXAGON FUND
26
12
LC EQUITY FUND LTD
23
LEGG MASON MARTIN CURRIE GF EU
23
LIGHTHORSE CHINA GROWTH FUND L
23
MAN AHL CURRENCY FUND DN USD
47
MAN GLG MULTI-STRATEGY CLASS M
LANSDOWNE DEVELOPED MARKET FUN 26
LAZARD RATHMORE FUND - CLASS A
MADRAGUE EQUITY LONG SHORT
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,
37
LMR FUND LTD
57
LNG EUROPA CREDIT FUND
14
LONDON DIVERSIFIED FUND, LTD -
37
LONDON SELECT FUND LIMITED
44
LOOMIS SAYLES CREDIT LONG SHOR
16
LOREM IPSUM MASTER FUND LP
26
LUCERNE CAPITAL FUND L.P.
23
MAN GLG MULTI-STRATEGY FUND CL
57
MARATHON VERTEX JAPAN FD, LTD
27
MARCATO INTERNATIONAL LTD
34
MARINUS OPPORTUNITIES FUND
18
MARK PARTNERS LP
29
MARKHAM RAE I SUB FUND
46
MARLIN FUND LP
29
MARSHALL WACE - EUROPA FUND A
23
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
MARSHALL WACE - MW MARKET NEUT
51
MARTIN CURRIE ARF - JAPAN FUND
28
NAPIER PARK EUROPEAN CREDIT OP
MASTERS FUND LTD MAGNOLIA SERI
38
NEUBERGER BERMAN US LONG SHORT 29
MAVERICK FUND, LTD - CLASS A/1
26
NEVSKY FUND PLC (COMPOSITE)
26
MELLON OFF GLOB OPP FUND LTD -
44
NEZU CYCLICALS FUND LTD
21
MERCHANT COMMODITY FUND (THE)
41
NORDIC ALPHA CLASS B - NOK
24
MERRICKS CAPITAL SOFT COMMODIT
41
NORTHLIGHT EUROPEAN FUNDAMENTA 14
MIDOCEAN ABSOLUTE RETURN CREDI
18
NUMEN CREDIT OPPORTUNITIES FUN
MIDOCEAN CREDIT OPPORTUNITY FU
18

Source - HSBC
57
O
OBSERVATORY CREDIT MARKETS FUN
14
OCCO EASTERN EUROPEAN FUND A S
22
OCEANIC HEDGE FUND - CLASS A
21
OCP DEBT OPPORTUNITY INTERNATI
19
OCTAGON HIGH INCOME FUND
18
OCTAGON PAN ASIA FUND
21
ODEY EUROPEAN, INC (EUR)
24
OKUMUS OPPORTUNISTIC VALUE FUN
29
OMEGA OVERSEAS PARTNERS, LTD
29
OMNI MACRO FUND I LIMITED
45
ONE WILLIAM STREET CAPITAL FUN
16
ONEWALL GLOBAL FUND
45
ONSLOW MACRO FUND CLASS A
45
ORTUS FUND (CAYMAN) LTD
47
OWL CREEK OVERSEAS FUND, LTD
35
OWS CREDIT OPPORTUNITY FUND
19
OYSTER MARKET NEUTRAL EUR
51
P
PALOMA INTERNATIONAL LTD CLASS
N
14
55
57
PAMPLONA CREDIT OPPORTUNITIES
14
PARUS FUND PLC USD CLASS
26
PASSPORT GLOBAL STRATEGY FUND
26
PASSPORT LONG SHORT STRATEGY F
27
PASSPORT SPECIAL OPPORTUNITIES
27
PEGASUS FUND LIMITED SHARES A-
28
PELAGUS CAPITAL FUND
37
PELHAM LONG/SHORT FUND LTD CLA
24
PENSATO EUROPA FUND LTD EURO C
24
PERCEPTIVE LIFE SCIENCES OFFSH
32
PERSHING SQUARE INTL.LTD
35
PHALANX JAPAN AUSTRALASIA MULT
55
PHARO GAIA FUND, LTD
42
PHARO MACRO FUND, LTD
45
PHARO TRADING FUND, LTD
43
PIMCO ABSOLUTE RETURN STRATEGY
45
PIMCO GLOBAL CREDIT OPPORTUNIT
16
PIMCO MULTI-ASSET VOLATILITY F
59
PIMCO TACTICAL OPPORTUNITIES F
17
PINE RIVER CONVERTIBLES FUND
12
PINE RIVER FIXED INCOME FUND L
17
PINE RIVER FUND CLASS -B1- SHA
57
PINE RIVER LIQUID RATES FUND
37
PINPOINT CHINA FUND CLASS A US
21
R
RAVEN ROCK CREDIT OFFSHORE FUN
18
RBR EUROPEAN LONG SHORT LTD (E
24
REAL RETURN ASIAN FUND LTD (TH
21
REDWOOD OFFSHORE FUND
20
RENAISSANCE INSTITUTIONAL DIVE
58
RENAISSANCE INSTITUTIONAL EQUI
30
RESIDENTIAL REAL ESTATE TOTAL
17
ROY G. NIEDERHOFFER DIVERSIFIE
49
RP DEBT OPPORTUNITIES FUND
17
RP SELECT OPPORTUNITIES FUND
17
RUBICON GLOBAL FUND, LTD
45
RUSSIAN PROSPERITY FUND - A
40
RV CAPITAL ASIA OPPORTUNITY FU
42
RWC GLOBAL INNOVATION ABSOLUTE
27
SENVEST PARTNERS, LTD - CLASS
32
THE CAMBRIDGE STRATEGY - EMERG
42
SERONE KEY OPPORTUNITIES FUND
14
THREADNEEDLE UK ABSOLUTE ALPHA
28
SFP VALUE REALIZATION FUND
28
TIG ARBITRAGE ENHANCED FUND
34
SIERRA EUROPE OFFSHORE, LTD -
24
TIG SECURITIZED ASSET FUND LTD
17
SILVER POINT CAPITAL OFFSHORE
20
TILDEN PARK OFFSHORE INVESTMEN
18
SINFONIETTA FUND
42
TONGA PARTNERS LP
32
SIVIK GLOBAL HEALTHCARE OFFSHO
32
TOSCA CLASS A - USD
30
SKYLINE UCITS FUND INSTITUTION
22
TRADELINK INTEGRATED PROGRAM L
50
SMN DIVERSIFIED FUTURES FUND
49
TREND MACRO OFFSHORE LTD
45
SOLAISE SYSTEMATIC FUND LTD (
49
TRIAN PARTNERS LTD
35
SOLUS SOLA LTD CL. I
35
TRIAS L/S FUND
25
SOMERSET SPECIAL OPPORTUNITIES
35
TRICADIA CREDIT STRATEGIES, LT
17
SOUND POINT BEACON OFFSHORE FU
20
TRISHIELD SPECIAL SITUATIONS F
35
SPF CREDIT SUISSE SECURITIZED
17
TRISTAN PARTNERS LP
32
SPINNAKER GLOB OPP FUND, LTD C
43
TT INTERNATIONAL FUND
45
SPINNAKER GLOBAL EMERGING MARK
55
TT LONG/SHORT FOCUS FUND
25
SR GLOBAL FUND (Class N) Emerg
22
TT MID-CAP EUROPE LONG/SHORT F
25
SR GLOBAL FUND C - INTERNATION
27
TUDOR B.V.I GLOBAL FUND LTD -A
45
PINPOINT MULTI-STRATEGY FUND
45
PLATINUM FUND LTD
27
PLATINUM PARTNERS VALUE ARBITR
57
POLAR CAPITAL EUROP CONVICTION
24
SR GLOBAL FUND H - JAPAN (Real
28
TUDOR BVI GLOBAL FUND LTD CLAS
45
POLAR CAPITAL EUROPEAN FORAGER
31
SR GLOBAL FUND INC - G - GLOBA
27
TUDOR DISCRETIONARY MACRO FUND
45
PORTLAND HILL OVERSEAS FUND LT
34
SR PHOENICIA INC CLASS -A- SER
27
TULIP TREND FUND, LTD - A
50
RWC SAMSARA FUND CLASS A EURO
24
RWC US ABSOLUTE ALPHA FUND - C
30
POTOMAC RIVER CAPITAL MASTER F
45
SAB OVERSEAS FUND LTD
STANDARD PACIFIC CAPITAL -B-
27
TWO SIGMA ABSOLUTE RETURN FUND
52
PROLOGUE FEEDER FUND, LTD. CLA
37
SABA CAPITAL OFFSHORE FUND LTD
17
STK CAPITAL GLOBAL EQUITIES
27
TWO SIGMA COMPASS CAYMAN FUND
50
PROSIRIS GLOBAL OPPORTUNITIES
17
SAGIL LATIN AMERICAN OPPORTUNI
22
STRATEGIC VALUE RESTRUCTURING
20
TYRUS CAPITAL EVENT FUND LTD
35
PSAM REBOUND PORTFOLIO FUND LT
19
SALAR CONVERTIBLE ABSOLUTE RET
12
STRATUS FUND LIMITED CLASS B
58
PSAM WORLDARB MASTER FUND LTD
35
SANCTUM FIXED INCOME FUND
37
SUSA EUROPEAN EQUITIES FUND CL
24
PWP GLOBAL MACRO FUND
45
SCHRODER CAZENOVE UK ABSOLUTE
51
SCHRODER ISF EMERGING MARKET D
13
SEER CAPITAL PARTNERS OFFSHORE
17
SEGANTII ASIA-PACIFIC EQUITY M
55
SELIGMAN TECH SPECTRUM FUND CL
32
Q
QMS DIVERSIFIED GLOBAL MACRO
49
QUAM CHINA FOCUS SEGREGATED PO
21
QVT OFFSHORE LTD CLASS 1-NR
58
SEMINOLE OFFSHORE FUND

Source - HSBC
30
30
U
UMJ KOTOSHIRO FUND
T
TELLIGENT GREATER CHINA FUND
21
TEWKSBURY INVESTMENT FUND, LTD
50
THE CAMBRIDGE STRATEGY - APOLL
43
THE CAMBRIDGE STRATEGY - ASIAN
41
28
V
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
W
WEISS MULTI-STRATEGY PARTNERS
58
WELLINGTON MANAGEMENT INV BERM
31
WELTON GLOBAL DIRECTIONAL PORT
50
WF ASIA FUND LTD S/1
21
WHITEBOX MULTI-STRATEGY FUND
35
WINTON EVOLUTION FUND (THE)
50
WINTON FUTURES FUND - CLASS B
50
WYETREE EUROPEAN RECOVERY FUND 14

WYETREE YIELD DISTRIBUTION FUN
18
Z
ZADIG FUND CLASS A1
25
ZEAL CHINA FUND LTD - USD -NI
21
ZWEIG-DIMENNA INTL LIMITED - C
30

Source - HSBC
Top
Investment Funds
Bottom
Return
HIGHER MOMENT CAPITAL OPPORTUNITIES, LP
32.27
Date
Investment Funds
30 Nov 15
DORSET ENERGY FUND, LTD - CLASS A
Return
-35.36
Date
04 Dec 15
PERCEPTIVE LIFE SCIENCES OFFSH FUND, LTD
27.87
11 Dec 15
ALTAI CAPITAL PARTNERS OFFSHORE, LTD
-32.47
31 Oct 15
SEGANTII ASIA-PACIFIC EQUITY MULTI-STRATEGY FUND
27.60
11 Dec 15
ELM RIDGE CAPITAL PARTNERS L.P.
-23.62
30 Nov 15
25.39
30 Nov 15
11 Dec 15
25.26
15 Dec 15
THE CAMBRIDGE STRATEGY - APOLLO (EM MACRO)

ABSOLUTE RETURN
-23.27

LANSDOWNE EUROPEAN EQUITY FD, LTD - A (EUR)
24.71
11 Dec 15
MUDRICK DISTRESSED OPPORTUNITY FUND LTD
-22.51
11 Dec 15
ALCENTRA GLOBAL SPECIAL SITUATIONS FUND
24.33
30 Nov 15
AMAZON MARKET NEUTRAL FUND CLASS A USD
23.62
04 Dec 15
20.96
31 Oct 15
FJ CAPITAL FINANCIAL OPPORTUNITY FUND LTD
20.12
30 Nov 15
PENSATO EUROPA FUND LTD EURO CLASS
19.84
30 Nov 15
GREENLIGHT CAPITAL OFFSHORE, LTD - A/1
-20.38
30 Nov 15
ANDALUSIAN CORPORATE OPPORTUNITIES FUND LP
-19.86
30 Nov 15
TRISHIELD SPECIAL SITUATIONS FUND LLC
-19.81
30 Nov 15
-19.36
08 Dec 15
FORTRESS MACRO FUND LTD. CLASS A
-17.48
30 Sep 15
GLENVIEW CAPITAL PARTNERS (CAYMAN), LTD.
-17.00
30 Nov 15
-16.13
11 Dec 15
TRIAS L/S FUND
19.84
15 Dec 15
19.52
16 Dec 15
SKYLINE UCITS FUND INSTITUTIONAL SHARE CLASS

(MontLake)
ABRAX MERGER ARBITRAGE S.G. FUND
19.05
31 Oct 15
-15.93
30 Nov 15
18.99
11 Dec 15
POLAR CAPITAL EUROP CONVICTION FUND LIMITED
-14.74
04 Dec 15
18.76
11 Dec 15
-14.45
11 Dec 15
18.45
11 Dec 15
CANDLEWOOD SPECIAL SITUATIONS FUND LTD
-14.17
30 Nov 15
PORTLAND HILL OVERSEAS FUND LTD
18.10
04 Dec 15
GREYWOLF CAPITAL OVERSEAS FUND
-14.16
30 Nov 15
MARSHALL WACE - MW MARKET NEUTRAL TOPS A USD
17.88
15 Dec 15
EAGLE GLOBAL
-12.53
11 Dec 15
OKUMUS OPPORTUNISTIC VALUE FUND, LTD CLASS A
17.13
30 Nov 15
SENVEST PARTNERS, LTD - CLASS A
-12.40
30 Nov 15
OMEGA OVERSEAS PARTNERS, LTD CLASS A
-12.02
30 Sep 15
This ranking is for information only and should not be considered as exhaustive.
Source - HSBC
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
58.05
31 Dec 14
DORSET ENERGY FUND, LTD - CLASS A
-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
LANSDOWNE GLOBAL FINANCIALS FUND LTD. -N-USD
-12.32
31 Dec 14
37.24
31 Dec 14
-11.47
31 Dec 14
36.15
31 Dec 14
-10.80
31 Dec 14
CARLYLE TREND FOLLOWING FUND
35.55
31 Dec 14
31 Dec 14
35.08
31 Dec 14
SKYLINE UCITS FUND INSTITUTIONAL SHARE CLASS

(MontLake)
-10.63
DUNN WMA FUND, SA

SEGANTII ASIA-PACIFIC EQUITY MULTI-STRATEGY FUND
34.88
31 Dec 14
WELTON GLOBAL DIRECTIONAL PORTFOLIO
34.01
31 Dec 14
AHL DIVERSIFIED
33.79
31 Dec 14
32.59
31 Dec 14
ASPECT DIVERSIFIED FUND - CLASS A
32.05
31 Dec 14
30.02
31 Dec 14
SELIGMAN TECH SPECTRUM FUND CLASS -A1-S/2-2002
30.00
31 Dec 14
OKUMUS OPPORTUNISTIC VALUE FUND, LTD CLASS A
29.71
31 Dec 14
28.09
31 Dec 14
-10.36
31 Dec 14
-8.57
31 Dec 14
-8.29
31 Dec 14
QUAM CHINA FOCUS SEGREGATED PORTFOLIO
-8.20
31 Dec 14
-8.00
31 Dec 14
-7.94
31 Dec 14
GLG MARKET NEUTRAL FUND - CLASS Z USD Unres
-7.43
31 Dec 14
RAVEN ROCK CREDIT OFFSHORE FUND LTD
-7.41
31 Dec 14
SOMERSET SPECIAL OPPORTUNITIES FUND LP
-7.02
31 Dec 14
CANOSA GLOBAL MACRO FUND LTD
-6.96
31 Dec 14
Source - HSBC
10
Top
Investment Funds
Bottom
Return
82.12
Date
Investment Funds
31 Dec 13
CANTAB CAPITAL PARTNERS QUANTITATIVE FUND

(THE) - USD ARISTARCHUS
-27.65
31 Dec 13
-17.32
31 Dec 13
EAGLE GLOBAL
-15.88
31 Dec 13
SENVEST PARTNERS, LTD - CLASS A
79.39
31 Dec 13
MARLIN FUND LP
77.47
31 Dec 13
PEGASUS FUND LIMITED SHARES A-1
63.74
31 Dec 13
SR GLOBAL FUND H - JAPAN (Real Perf)
62.51
31 Dec 13
QUAM CHINA FOCUS SEGREGATED PORTFOLIO
61.80
31 Dec 13
CCI MICRO HEALTHCARE PARTNERS LTD
59.69
31 Dec 13
ALTAI CAPITAL PARTNERS OFFSHORE, LTD
52.07
31 Dec 13
BCM WESTON LP (BILLINGS CAPITAL MANAGEMENT)
50.32
31 Dec 13
48.63
31 Dec 13
CLAREANT STRUCTURED CREDIT OPPORTUNITIES

FUND II
48.08
31 Dec 13
Return
Date
BLUETREND FUND, LTD -USD- CLASS A
-11.50
31 Dec 13
-11.24
31 Dec 13
ISAM SYSTEMATIC TREND FUND CLASS Q
-10.66
31 Dec 13
DISCUS FEEDER LTD CL. B USD STANDARD LEVERAGE
-10.32
31 Dec 13
-10.32
31 Dec 13
-9.64
31 Dec 13
HIGHER MOMENT CAPITAL OPPORTUNITIES, LP
-9.29
31 Dec 13
HSBC TRADING ADVANTEDGE FUND
-8.75
31 Dec 13
JABCAP GLOBAL BALANCED FUND LTD CLASS D/1 NI
47.80
31 Dec 13
HARMONIC ALPHA PLUS MACRO FUND - USD CLASS
-8.34
31 Dec 13
PASSPORT SPECIAL OPPORTUNITIES FUND LTD CLASS

AA
45.50
31 Dec 13
-7.65
31 Dec 13
PERCEPTIVE LIFE SCIENCES OFFSH FUND, LTD
43.88
31 Dec 13
ALPHA4X CAPITAL GROWTH FUND
-7.33
31 Dec 13
-7.21
31 Dec 13
JABCAP MULTI STRATEGY FUND LTD CLASS D/1 NI
43.03
31 Dec 13
BLUEBAY EMERGING MARKET CORPORATE ALPHA

FUND
GLENVIEW CAPITAL PARTNERS (CAYMAN), LTD.
42.90
31 Dec 13
-6.81
31 Dec 13
ANDALUSIAN CORPORATE OPPORTUNITIES FUND LP
41.15
31 Dec 13
-6.76
31 Dec 13
TRIAN PARTNERS LTD
40.06
31 Dec 13
CONQUEST MACRO FUND, LTD (COMP)
-6.62
31 Dec 13
TRISTAN PARTNERS LP
38.52
31 Dec 13
PIMCO MULTI-ASSET VOLATILITY FUND LTD
-6.17
31 Dec 13
MARK PARTNERS LP
38.27
31 Dec 13
MILLBURN DIVERSIFIED PROGRAM
-6.02
31 Dec 13
Source - HSBC
11
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
10.51%
8.45%
-6.27%
10.31%
7.49%
6.83%
Max
Drawdown1
Convertible
Ytd Avg. 2015
0.81%
Convertible/Global
ADVENT HEDGED CONVERTIBLE
STRATEGY
ADVENT CAPITAL MANAGEMENT
30 Sep 96
BASSO INVESTORS LTD

Howard Fischer
30 Sep 95
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
W
Q/M
$380M
Aug 15
400.51
$561M
Nov 15
7,383.55
$329M
Nov 15
202.25
$1'027M
Sep 15
203.24
$245M
Nov 15
119.99
$224M
Dec 15
(27.58%)
Oct 07 - Nov 08
11 Dec 15 (0.36%)
2.36%
1.95%
11.45%
9.5%
2.61%
17.15%
10.40%
5.76%
(25.00%)
Dec 07 - Oct 08
08 Dec 15 (2.41%)
0.56%
4.13%
27.14%
5.37%
-14.15%
8.45%
8.51%
12.21%
(28.61%)
May 08 - Nov 08
11 Dec 15 (1.67%)
(2.97%)
-1.69%
10.55%
4.73%
-1.64%
16.96%
8.66%
8.04%
(16.25%)
Aug 08 - Nov 08
11 Dec 15 (0.71%)
1.77%
0.71%
10.34%
6.42%
-2.86%
2.65%
3.51%
3.53%
(5.37%)
May 15 - Sep 15
Convertible/USA
PINE RIVER CONVERTIBLES FUND 31 Jul 09
Franklin Parlamis
Ytd Avg. 2015

1.37%
11 Dec 15 (0.14%)
5.14%
-1.54%
193.46
Ytd Avg. 2015

(2.00%)
30 Nov 15 (1.52%)
(2.00%)
0.41%
19.34%
7.6%
4.98%
22.41%
10.98%
6.74%
(5.99%)
Sep 14 - Jan 15
1. Max Drawdown: Peak to trough.

Source - HSBC
12
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

0.19%
17 Dec 15 (1.30%)
(4.50%)
2.42%
-0.65%
11.73%
0.08%
8.01%
4.51%
6.95%
Max
Drawdown1
Credit
Ytd Avg. 2015
1.33%
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, Rodrigo da Fonseca
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
MONEDA LATIN AMERICAN

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

MARKET DEBT A/R -I ACCGeoffrey Blanning
31 Jan 02
M
W
1'155M
Oct 15
1.40
$750M
Oct 15
1,937.69
$41M
Oct 15
109.98
$92M
Oct 15
181.14
$361M
Oct 15
351.34
$546M
Nov 15
208.18
$182M
Nov 15
23.41
$217M
Oct 15
1,773.81
$4'150M
May 15
32.56
CAIRN SPECIAL OPPORTUNITIES

CREDIT FUND
Cairn Capital Limited
31 Dec 07
CAPEVIEW RECOVERY FUND

Theo Phanos
30 Jun 03
31 Oct 15
0.55%
6.23%
7.76%
8.09%
8.71%
8.99%
11.23%
9.00%
0.51%
0.00%
Jan 00 - Jan 00
04 Dec 15 (0.54%)
0.62%
11.29%
-7.21%
12.29%
2.19%
4.39%
6.27%
(12.25%)
Feb 13 - Sep 13
31 Oct 15
3.43%
(3.02%)
-2.05%
-1.96%
11.33%
2.85%
16.82%
7.31%
8.61%
(19.88%)
Feb 08 - Nov 08
30 Nov 15
1.29%
13.29%
-1.98%
14.61%
23.2%
-7.16%
33.16%
13.50%
13.42%
(28.43%)
Feb 08 - Oct 08
30 Nov 15
0.07%
(1.21%)
2.62%
4.78%
18%
-4.14%
14.83%
7.74%
11.22%
(33.64%)
Jun 08 - Dec 08
09 Dec 15 (1.34%)
0.76%
4.94%
2.2%
18.68%
-1.37%
17.43%
6.33%
9.05%
(38.05%)
Feb 08 - Mar 09
11 Dec 15 (2.95%)
(5.44%)
3.36%
8.67%
11.48%
2.44%
17.08%
7.24%
13.72%
(32.05%)
Aug 08 - Dec 08
16 Dec 15 (0.61%)
(5.05%)
0.62%
0.8%
5.36%
0.69%
2.94%
6.73%
5.21%
(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
782M
Oct 15
1.25
130M
Oct 15
180.67
$355M
Nov 15
351.56
Ytd Avg. 2015

3.35%
16 Dec 15 (0.47%)
(1.73%)
2.21%
7.38%
12.65%
2.59%
5.37%
4.27%
(3.93%)
Jul 14 - Dec 15
31 Oct 15 (0.51%)
(2.87%)
2.3%
8.54%
19.95%
-12.51%
10.39%
7.84%
7.42%
(13.94%)
Jun 11 - Nov 11
11 Dec 15
2.80%
5.17%
3.19%
18.23%
8.41%
1.48%
18.16%
10.62%
8.52%
(30.45%)
Oct 07 - Dec 08

Source - HSBC
13
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Credit/Europe
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
SERONE KEY OPPORTUNITIES

FUND
Serone Capital Management, Serj
Walia
29 Feb 12
WYETREE EUROPEAN RECOVERY 31 Aug 13

FUND (WERF)
WyeTree Asset Management
56M
Oct 15
152.60
$222M
May 15
181.68
330M
Jul 15
1,074.32
130M
Oct 15
1,332.70
$277M
Nov 15
1,218.71
$147M
Oct 15
1,182.27
364M
Sep 15
257.10
$200M
Aug 15
1,509.84
$1'013M
Sep 15
324.64
420M
Oct 15
199.80
$148M
Oct 15
243.00
70M
Nov 15
113.72
Date
MTD
YTD
2014
Ytd Avg. 2015

3.35%
30 Nov 15 (0.29%)
3.74%
11.37%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
16.31%
17.68%
10.64%
30.31%
14.94%
7.06%
Max
Drawdown1
(6.46%)
May 11 - Nov 11
31 Oct 15
0.84%
8.97%
8.84%
15.19%
36.91%
-2.87%
13.90%
4.84%
(4.65%)
Jul 11 - Sep 11
31 Oct 15
0.02%
14.23%
24.82%
32.93%
32.42%
24.71%
90.56%
44.73%
11.46%
(5.11%)
Jul 11 - Oct 11
11 Dec 15 (0.60%)
(4.66%)
4.53%
8.11%
20.07%
3.01%
7.38%
6.44%
(9.01%)
May 15 - Dec 15
11 Dec 15 (0.06%)
3.68%
4.68%
11.5%
0.71%
6.74%
3.42%
(3.53%)
Jun 14 - Sep 14
31 Oct 15 (1.30%)
3.72%
-10.36%
16.1%
19.58%
-7.79%
3.87%
8.58%
(12.90%)
Jun 14 - Dec 14
30 Nov 15
0.69%
8.03%
8.89%
31.11%
55.73%
-2.23%
9.48%
19.70%
9.00%
(14.95%)
May 11 - Dec 11
11 Dec 15
0.21%
5.27%
5.91%
12.51%
6.31%
3.68%
9.16%
7.07%
2.36%
(1.28%)
Apr 12 - Jun 12
30 Nov 15
0.27%
3.55%
3.31%
7.25%
13.46%
-5.02%
7.36%
10.86%
6.18%
(12.74%)
Jul 07 - Jul 08
30 Nov 15
1.78%
(0.74%)
6.55%
12.68%
19.87%
-9.26%
14.91%
10.01%
7.14%
(17.90%)
Apr 11 - Dec 11
31 Oct 15
0.16%
9.26%
9.14%
25.94%
61.8%
27.36%
8.41%
(0.57%)
May 15 - Jun 15
30 Nov 15
1.20%
(5.44%)
16.86%
2.91%
5.88%
5.27%
(8.13%)
Mar 15 - Oct 15

Source - HSBC
14
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Credit/Global
AG MORTGAGE VALUE PARTNERS 30 Apr 09
LTD
Jonathan Lieberman
ALCENTRA GLOBAL SPECIAL

SITUATIONS FUND
Alcentra Ltd / David Forbes-Nixon
31 Oct 07
ARISTEIA INTERNATIONAL LTD

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

Morten Mathiesen
AXONIC CREDIT OPPORTUNITIES

OVERSEAS FUND,LTD
Clayton DeGiacinto
31 Dec 10
BLUEBAY CREDIT ALPHA LONG

SHORT FUND
Geraud Charpin
31 Oct 11
BLUEMOUNTAIN CREDIT
ALTERNATIVES FUND
BlueMountain Capital Management
31 Oct 03
CANDLEWOOD STRUCTURED
CREDIT FUND LTD
Greg Richter and Brian Herr
31 Dec 10
CANDLEWOOD STRUCTURED
CREDIT HARVEST FD LTD
Greg Richter and Brian Herr
31 Jul 12
CHENAVARI CORPORATE CREDIT 30 Sep 08

STRATEGY M1
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
COHERENCE CAPITAL SPECTRUM 31 Jul 12

FUND OFFSHORE FUND
Coherence Capital Partners LLC
$1'453M
Oct 15
261.93
164M
Nov 15
171.18
$2'362M
Jun 15
842.58
270M
May 15
497.53
$1'067M
Oct 15
167.44
219M
Oct 15
135.02
$7'300M
Sep 15
262.85
$313M
Oct 15
175.93
$479M
Oct 15
144.05
$386M
May 15
150.39
207M
Oct 15
559.81
254M
Oct 15
307.17
$93M
Dec 15
14.62
Date
MTD
YTD
2014
Ytd Avg. 2015

1.41%
30 Nov 15 (0.10%)
4.79%
10.07%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
12.91%
20.59%
7.47%
24.06%
15.73%
4.05%
Max
Drawdown1
(1.66%)
May 13 - Jun 13
30 Nov 15 (0.07%)
24.33%
-1.88%
12%
16.64%
-8.59%
14.54%
6.87%
15.11%
(48.74%)
Oct 07 - Dec 08
30 Nov 15 (0.22%)
(5.62%)
-3.13%
15.67%
11.2%
2.36%
10.5%
12.32%
8.84%
(30.20%)
May 08 - Dec 08
11 Dec 15
1.70%
7.10%
10.6%
16.02%
34.12%
25.32%
20.65%
13.75%
6.67%
(10.40%)
Aug 08 - Oct 08
30 Nov 15
0.02%
1.11%
10.87%
12.1%
25.69%
6.01%
11.05%
4.02%
(3.35%)
Jul 11 - Oct 11
04 Dec 15
0.30%
2.98%
0.94%
11.78%
26.2%
0.3%
9.88%
4.89%
(3.37%)
Feb 15 - Sep 15
11 Dec 15 (0.34%)
0.45%
2.67%
7.87%
14.51%
3.56%
12.19%
8.30%
5.85%
(11.83%)
Aug 08 - Dec 08
30 Nov 15 (2.70%)
(5.60%)
10.57%
12%
20.12%
25.27%
12.17%
4.45%
(7.74%)
Jun 15 - Nov 15
30 Nov 15 (0.70%)
0.27%
13.78%
14.05%
10.71%
11.57%
3.86%
(3.26%)
Jun 15 - Nov 15
31 Oct 15 (0.65%)
(0.02%)
3.94%
13.84%
17.22%
1.29%
12.41%
10.94%
5.31%
(6.82%)
Apr 11 - Aug 11
30 Nov 15
0.67%
4.44%
7.28%
29.09%
44.15%
8.7%
46.78%
31.72%
17.27%
(15.92%)
May 11 - Nov 11
30 Nov 15
1.81%
8.63%
5.51%
48.08%
50.97%
19.88%
26.14%
12.40%
(8.17%)
May 11 - Sep 11
11 Dec 15
0.44%
4.68%
2.83%
18.98%
14.17%
11.95%
4.30%
(2.98%)
Jun 14 - Oct 14

Source - HSBC
15
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Credit/Global
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
GREEN T G2 FUND
Darryl Green, Geoffrey Sherry
28 Feb 99
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
LUCIDUS LEVERAGED CREDIT

FUND
Darryl Green, Geoffrey Sherry
28 Feb 11
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
PIMCO GLOBAL CREDIT

OPPORTUNITY FUND SERIES 1
Dan Ivascyn / Jon Horne
30 Jun 06
HY
Q
Q
Q
Q
Q
Q
W
Q/Y
$1'594M
Oct 15
5,348.09
$3'800M
Oct 15
170.98
$910M
Apr 15
157.61
$608M
Oct 15
281.22
$325M
Oct 15
264.47
$502M
Oct 15
192.72
$222M
Sep 15
1,831.63
$365M
Nov 15
1,605.10
$762M
Nov 15
172.58
$446M
Oct 15
107.04
$2'012M
Nov 15
519.19
$207M
Oct 15
103.45
$972M
Nov 15
2,002.67
$2'646M
Nov 15
188.90
30 Nov 15
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

1.41%
0.13%
(1.91%)
8.02%
9.7%
16.85%
0.67%
19.2%
20.06%
10.80%
Max
Drawdown1
(4.31%)
May 15 - Oct 15
30 Nov 15 (3.20%)
(8.20%)
5.8%
13.91%
15.34%
1.22%
13.46%
8.83%
4.77%
(10.19%)
Apr 15 - Nov 15
30 Nov 15 (1.18%)
(0.96%)
8.1%
23.7%
19.01%
12.88%
5.48%
(4.50%)
Apr 15 - Sep 15
30 Nov 15
0.76%
3.49%
7.89%
15.28%
27.73%
1.86%
12.47%
14.60%
5.53%
(1.84%)
Apr 11 - Jul 11
30 Nov 15
0.21%
1.59%
7.25%
9.64%
13.29%
16.19%
23.72%
15.30%
3.95%
(0.85%)
May 15 - Oct 15
11 Dec 15
0.07%
(1.88%)
-0.08%
2.66%
2.76%
0.8%
5.88%
5.71%
3.49%
(4.26%)
Dec 03 - Jul 04
11 Dec 15 (0.03%)
(7.67%)
6.02%
8.56%
11.95%
7.41%
18.47%
8.04%
6.31%
(8.44%)
Aug 08 - Nov 08
30 Nov 15 (3.14%)
(2.03%)
3.42%
15.67%
8.3%
1.64%
16.36%
8.09%
5.38%
(7.66%)
May 15 - Nov 15
11 Dec 15 (1.99%)
(0.48%)
-1.35%
4.76%
12.48%
-0.76%
12.15%
6.81%
6.24%
(9.90%)
Jun 08 - Sep 08
11 Dec 15
0.23%
(3.94%)
-0.21%
5.01%
5.23%
1.04%
1.43%
3.73%
(6.54%)
Feb 15 - Oct 15
11 Dec 15 (1.15%)
(5.41%)
5.33%
11.18%
19.63%
-5.12%
15.34%
10.30%
5.45%
(8.96%)
Feb 11 - Oct 11
15 Dec 15 (3.28%)
(2.87%)
-2.52%
9.26%
1.26%
5.29%
(8.28%)
Jun 14 - Dec 15
30 Nov 15
0.25%
2.88%
10.05%
5.75%
18.98%
-4.19%
18.8%
9.48%
5.33%
(8.43%)
Feb 11 - Nov 11
30 Nov 15
0.15%
6.20%
4.34%
7.45%
15.18%
6.24%
9.17%
6.98%
4.89%
(12.86%)
Jun 07 - Nov 08

Source - HSBC
16
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Credit/Global
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
PROSIRIS GLOBAL
OPPORTUNITIES FUND
Reza Ali
30 Jun 11
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
$798M
Nov 15
131.09
$2'559M
Dec 15
496.30
$981M
Oct 15
167.24
$139M
Nov 15
215.57
$869M
Nov 15
184.75
$193M
Oct 15
108.78
$1'565M
Nov 15
110.18
$1'560M
Oct 15
219.58
$2'129M
Nov 15
159.92
$845M
Oct 15
154.43
$1'717M
Oct 15
353.36
$320M
Oct 15
138.34
30 Nov 15
MTD
YTD
2014
Ytd Avg. 2015

1.41%
0.00%
6.20%
7.56%
2013
2012
2011
2010
14.76%
Ann.
Return
Ann.
Volatility
10.03%
4.22%
Max
Drawdown1
(1.88%)
May 13 - Jun 13
30 Nov 15
1.19%
(2.22%)
6.13%
10.18%
34.85%
4.77%
31.84%
24.72%
9.32%
(8.83%)
Jul 11 - Oct 11
31 Oct 15 (1.97%)
(3.09%)
7.02%
16.35%
22.49%
13.15%
12.58%
4.53%
(4.01%)
May 15 - Oct 15
30 Nov 15 (0.40%)
0.08%
12.66%
17.56%
24.07%
-10.5%
22.94%
11.59%
5.98%
(14.92%)
Feb 11 - Dec 11
30 Nov 15
0.68%
4.86%
5.07%
10.35%
14.9%
2.78%
15.76%
10.46%
3.38%
(1.80%)
Jul 11 - Sep 11
31 Oct 15
2.57%
6.10%
2.52%
5.44%
3.48%
(1.51%)
Jul 15 - Sep 15
30 Nov 15 (1.28%)
5.33%
-10.8%
-6.76%
-3.87%
9.33%
10.85%
1.54%
7.32%
(28.08%)
Jun 12 - Mar 15
30 Nov 15
0.35%
0.67%
5.41%
12.13%
25.85%
2.09%
24.93%
12.68%
5.11%
(7.47%)
May 11 - Nov 11
30 Nov 15
0.39%
5.46%
10.31%
18.04%
16.46%
12.73%
2.89%
(0.57%)
May 13 - Jun 13
31 Oct 15 (0.29%)
6.05%
15.17%
20.05%
5.33%
15.13%
2.73%
(0.29%)
Sep 15 - Oct 15
14 Dec 15 (0.63%)
(1.52%)
3.94%
10.57%
12.73%
-0.81%
10.19%
12.51%
6.99%
(10.77%)
Jun 08 - Nov 08
31 Oct 15
4.80%
0.81%
9.15%
15.14%
28.54%
-15.05%
7.33%
11.75%
(18.02%)
Mar 11 - Sep 11

Source - HSBC
17
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Credit/USA
400 CAPITAL CREDIT
OPPORTUNITIES
Chris Hentemann
31 Jan 09
ACUITY CORPORATE
OPPORTUNITY FUND LTD
John Harnisch
31 Dec 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
MARINUS OPPORTUNITIES FUND

Najib Canaan
31 Mar 12
MIDOCEAN ABSOLUTE RETURN

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

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

Andrew D. Gordon
31 Jan 11
RAVEN ROCK CREDIT OFFSHORE 31 Aug 09

FUND LTD
Nate Brown, Guy Caplan, Bobby
Richardson
TILDEN PARK OFFSHORE

INVESTMENT FUND LTD
Josh Birnbaum
31 Dec 10
WYETREE YIELD DISTRIBUTION

FUND (WYDF)
30 Nov 12
$1'152M
Oct 15
285.98
$175M
Nov 15
138.04
$2'100M
Oct 15
627.44
$2'764M
Nov 15
145.14
$343M
Nov 15
123.57
$403M
Jul 15
148.28
$753M
Jul 15
225.82
$131M
Jun 15
131.90
$135M
Oct 15
147.59
$3'714M
Nov 15
213.74
$96M
Nov 15
113.99
Date
MTD
YTD
2014
Ytd Avg. 2015

(0.76%)
31 Oct 15 (0.74%)
0.68%
12.35%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
15.24%
34.21%
3.07%
21.17%
16.84%
5.77%
Max
Drawdown1
(2.91%)
May 11 - Oct 11
30 Nov 15 (10.97%)
(10.31%)
1.31%
8.61%
11.14%
1.2%
24.36%
5.60%
8.53%
(14.76%)
May 15 - Nov 15
30 Nov 15 (1.36%)
0.45%
-0.67%
12.61%
13.86%
-0.98%
13%
9.91%
7.90%
(24.04%)
Oct 07 - Dec 08
11 Dec 15 (1.20%)
(8.74%)
0.22%
5.96%
6.7%
2.44%
7.5%
4.25%
6.54%
(19.42%)
Jun 08 - Dec 08
30 Nov 15
0.18%
1.24%
3.08%
6.11%
11.59%
5.94%
2.36%
(1.60%)
Sep 14 - Nov 14
30 Nov 15
0.37%
4.60%
0.24%
7.66%
10.87%
9.99%
7.72%
6.99%
3.86%
(5.29%)
Jun 14 - Jan 15
30 Nov 15 (0.17%)
3.22%
1.05%
10.07%
10.78%
7.46%
16.64%
12.99%
6.16%
(4.30%)
Aug 14 - Dec 14
30 Nov 15 (1.94%)
1.20%
0.94%
9.04%
19.9%
-1.24%
5.89%
6.73%
(10.79%)
Jul 11 - Aug 11
31 Oct 15
1.59%
(1.15%)
-7.41%
5.8%
8.46%
6.53%
18.82%
6.51%
6.49%
(14.51%)
Jun 14 - Sep 15
30 Nov 15
1.13%
(0.06%)
14.06%
20.51%
41.34%
10.07%
16.70%
5.45%
(4.09%)
May 15 - Oct 15
30 Nov 15 (0.10%)
0.49%
7.78%
5.46%
-0.2%
4.46%
3.20%
(3.72%)
May 13 - Jun 13

Source - HSBC
18
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
9.75%
13.06%
-0.49%
8.32%
7.34%
4.78%
Max
Drawdown1
Distressed Security
Ytd Avg. 2015
(3.62%)
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 C 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
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
153M
Sep 15
153.12
$977M
Oct 15
713.19
$6'684M
Sep 15
7,658.11
04 Dec 15
Ytd Avg. 2015

(4.20%)
0.08%
(0.16%)
14.22%
(7.72%)
May 11 - Sep 11
30 Nov 15 (3.70%)
(14.17%)
5.68%
12.53%
14.78%
3.88%
11.54%
16.88%
10.98%
(28.11%)
May 08 - Nov 08
30 Nov 15 (2.12%)
(2.11%)
4.32%
15.65%
18.05%
-4.66%
14.66%
10.22%
8.16%
(28.82%)
Oct 07 - Nov 08
$1'900M 1,049,613.7630 Nov 15

Jul 15
$2'308M
Oct 15
2,438.77
$1'195M
Mar 15
2,464.31
$1'460M
Oct 15
3,865.55
$1'200M
Oct 15
145.21
$267M
Oct 15
259.44
$400M
Nov 15
1,557.60
$254M
Aug 15
237.19
3.27%
(3.02%)
23.09%
14.1%
12.05%
9.6%
10.32%
11.01%
6.42%
(22.26%)
May 08 - Feb 09
30 Nov 15 (1.57%)
(6.34%)
0.46%
17.01%
24.31%
-1.32%
12.38%
11.57%
9.45%
(33.22%)
Jun 07 - Feb 09
15 Dec 15 (2.06%)
(7.25%)
2.96%
21.95%
13.51%
-2.45%
10.16%
8.78%
9.51%
(26.27%)
Oct 07 - Nov 08
30 Nov 15 (1.18%)
(0.99%)
1.37%
18.36%
11.57%
-0.46%
23.74%
10.39%
7.54%
(32.31%)
Oct 07 - Dec 08
11 Dec 15 (4.40%)
(22.51%)
15.7%
7.73%
21.85%
-3.72%
11.42%
5.95%
7.80%
(23.91%)
Aug 14 - Dec 15
31 Oct 15 (0.50%)
(6.72%)
0.47%
9.93%
9.21%
-1.39%
10.32%
6.87%
6.33%
(24.14%)
Jun 07 - Dec 08
30 Nov 15
0.25%
2.45%
12.3%
12.47%
23.41%
-2.46%
9.43%
4.27%
(7.86%)
Apr 11 - Oct 11
30 Nov 15 (1.85%)
(9.21%)
-1.16%
12.61%
14.01%
1.55%
13.24%
7.00%
8.19%
(32.91%)
Jul 07 - Mar 09

Source - HSBC
19
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Distressed Security/Global
SILVER POINT CAPITAL
OFFSHORE LTD
Edward Mul
31 Dec 01
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
$4'500M
Jul 15
4,442.62
$451M
Oct 15
127.13
$1'400M
Sep 15
324.10
$1'999M
Oct 15
30 Nov 05
REDWOOD OFFSHORE FUND

Jonathan Kolatch
31 Jul 00
MTD
YTD
2014
Ytd Avg. 2015

(4.20%)
15 Dec 15 (0.54%)
(2.01%)
3.08%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
16.11%
20.04%
4.52%
19.42%
11.27%
7.99%
Max
Drawdown1
(35.48%)
Jun 07 - Dec 08
30 Nov 15 (1.75%)
0.81%
18.36%
6.54%
12.75%
7.44%
(4.44%)
May 15 - Nov 15
11 Dec 15 (1.46%)
(5.19%)
1.7%
16.17%
13.18%
-11.03%
13.12%
9.25%
7.52%
(24.47%)
May 07 - Jan 09
40,640.78 31 Oct 15
5.64%
13.41%
-0.4%
32.33%
20.69%
3.58%
58.35%
25.15%
14.74%
(48.38%)
May 08 - Mar 09
Distressed Security/USA
HALCYON OFF. ASSET-BACKED
VALUE FUND LTD
Joseph Wolnick ,Joseph Godley and
Jim Coppola
Date
$1'135M
Oct 15
2,974.56
$2'647M
Sep 15
717.16
Ytd Avg. 2015

0.73%
30 Nov 15 (0.14%)
2.03%
6.74%
6.66%
16.14%
4.12%
25.33%
11.51%
5.13%
(13.32%)
Aug 08 - Mar 09
30 Nov 15 (1.20%)
(0.57%)
1.59%
17.62%
21.94%
-1.98%
23.48%
13.70%
10.41%
(36.28%)
May 07 - Dec 08

Source - HSBC
20
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

(2.89%)
1.32%
(2.89%)
3.87%
23.3%
-7.73%
5.24%
-0.5%
10.07%
8.03%
Max
Drawdown1
Equity-Commodity
Ytd Avg. 2015
(2.89%)
Equity-Commodity/Global
OCEANIC HEDGE FUND - CLASS A
Cato Brahde, Andreas Vergottis,
Bjorn Rise
31 Jul 02
$355M
Sep 15
3,606.27
11 Dec 15
(12.78%)
Nov 11 - Jul 12
Equity-Diversified
Ytd Avg. 2015
4.21%
Equity-Diversified/Asia
George Jiang,
30 Jun 04
LIGHTHORSE CHINA GROWTH

FUND LTD
Shawn Kang
31 Dec 05
NEZU CYCLICALS FUND LTD

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
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
$1'952M
Oct 15
209.37
$110M
Aug 15
395.19
$166M
May 15
281.19
$124M
Nov 15
209.29
$580M
Oct 15
961.36
$123M
Oct 15
420.74
$290M
Oct 15
292.91
$298M
Nov 15
365.94
$775M
Oct 15
480.12
$223M
Oct 15
156.79
Ytd Avg. 2015

5.88%
11 Dec 15 (2.39%)
18.99%
30.02%
17.48%
26.91%
-3.9%
13.17%
27.54%
24.30%
(64.64%)
Oct 07 - Nov 08
31 Oct 15 (0.68%)
7.31%
-0.51%
15.85%
-14.51%
-12.64%
22.79%
14.99%
19.84%
(41.06%)
Feb 08 - Dec 08
11 Dec 15 (0.32%)
4.25%
16%
27.39%
-6.58%
-5.09%
7.53%
10.48%
11.97%
(25.06%)
Oct 07 - Feb 09
30 Nov 15 (0.44%)
0.32%
-4.44%
4.6%
11.8%
-6.07%
-2.68%
6.83%
8.38%
(10.69%)
Oct 07 - Jan 09
30 Nov 15
4.42%
10.31%
17.46%
9.26%
8.06%
0.6%
5.87%
24.03%
19.42%
(42.16%)
Oct 07 - Nov 08
11 Dec 15 (3.03%)
(1.33%)
-8.2%
61.8%
16.99%
-22.17%
-7.45%
14.89%
24.95%
(38.53%)
May 15 - Sep 15
11 Dec 15 (1.87%)
(0.86%)
4.33%
13.35%
9.02%
-9.19%
5.75%
10.07%
9.79%
(15.09%)
Apr 11 - May 12
30 Nov 15
1.49%
1.93%
-6.27%
28.57%
10.76%
-17.35%
12.73%
12.12%
18.13%
(46.90%)
Oct 07 - Oct 08
11 Dec 15
0.65%
13.14%
5.71%
11.72%
27.68%
-7.21%
-1.28%
11.13%
12.53%
(37.65%)
Oct 07 - Nov 08
11 Dec 15
1.49%
4.78%
0.92%
5.55%
12.89%
6.19%
17.18%
7.85%
15.16%
(20.74%)
May 15 - Aug 15

Source - HSBC
21
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Equity-Diversified/Brazil
BNY MELLON ARX BRAZIL FUND
SPC LONG SHORT
Bruno Garcia, Frederico Saraiva &
Rogerio Poppe
31 Jan 07
$36M
Oct 15
1,635.50
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
SKYLINE UCITS FUND

INSTITUTIONAL SHARE CLASS
(MontLake)
Geoff Bamber, David Tovar,
31 Jul 11
SR GLOBAL FUND (Class N)

Emerging Market Equity
Ed Butchart and CJ Morrell
31 Dec 12
M
Q
M
Q/Y
$90M
Nov 15
106.47
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
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

(10.82%)
11 Dec 15 (1.03%) (10.82%)
5.08%
5.22%
11.03%
3.58%
11.7%
5.71%
8.55%
Max
Drawdown1
(23.95%)
$200M
Sep 15
132.12
$138M
Oct 15
802.79
$223M
Nov 15
244.47
$435M
Sep 15
405.60
$85M
Oct 15
134.96
$93M
Aug 15
106.80
$50M
Aug 15
120.16
Ytd Avg. 2015

(2.91%)
30 Nov 15 (0.81%)
(3.74%)
12.24%
11.49%
9.92%
7.43%
8.87%
(12.23%)
May 15 - Sep 15
11 Dec 15 (3.65%)
2.02%
12.92%
14.7%
9.92%
12.43%
(9.76%)
Aug 14 - Mar 15
11 Dec 15 (0.82%)
(9.99%)
-22.64%
24.2%
13.26%
-19.42%
29.51%
11.83%
29.21%
(73.20%)
Sep 97 - Jan 99
16 Nov 15 (0.55%)
1.60%
7.15%
9.23%
6.94%
-3.2%
13.59%
13.35%
9.48%
(10.02%)
Apr 11 - May 12
30 Nov 15
0.97%
5.14%
-2.56%
11.63%
7.73%
5.42%
11.17%
11.51%
7.39%
(20.86%)
Jun 08 - Oct 08
30 Nov 15 (1.50%)
(6.84%)
6.71%
7.91%
14.48%
-9.05%
5.07%
4.78%
8.51%
(15.40%)
Jun 14 - Aug 15
11 Dec 15 (1.73%)
(16.13%)
-10.63%
10.01%
25%
3.62%
1.52%
12.33%
(28.15%)
Aug 14 - Dec 15
04 Dec 15 (0.08%)
4.63%
3.68%
10.76%
6.48%
10.29%
(9.84%)
May 15 - Sep 15
Equity-Diversified/Europe
ADELPHI EUR. FUND $ (A)
Roderick Jack, Marcel Jongen
MTD
Jun 08 - Oct 08
Equity-Diversified/Emerging
APERIOS EMERGING
CONNECTIVITY MASTER FUND
LTD
Aperios Partners Investment
Management LLP
Date
$1'940M
Aug 15
569.81
$218M
Aug 15
175.65
$546M
Feb 15
662.40
Ytd Avg. 2015

7.70%
11 Dec 15 (1.36%)
10.20%
9.35%
17.28%
14.08%
-4.91%
9.15%
10.03%
11.32%
(26.28%)
May 07 - Feb 09
30 Nov 15
0.51%
5.31%
4.32%
12.83%
5.91%
-0.17%
7.42%
6.45%
4.98%
(9.13%)
May 07 - Oct 08
11 Dec 15 (1.12%)
14.38%
5.5%
28.79%
1.7%
-10.75%
28.25%
11.75%
14.58%
(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 GF 31 Aug 10

EUROPEAN ABSOLUTE ALPHA
FUND
Michael Browne and Steve Frost
LUCERNE CAPITAL FUND L.P.

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
501M
Sep 15
137.63
$240M
Apr 15
203.18
$1'490M
Nov 15
193.51
$500M
Nov 15
127.35
412M
Nov 15
458.52
$348M
Nov 15
336.31
CHF62M
Oct 15
1,565.02
$336M
Jul 15
256.39
CHF75M
Oct 15
282.37
479M
Nov 15
13.94
$338M
Nov 15
513.09
112M
Oct 15
134.48
$141M
Dec 15
159.38
Date
MTD
YTD
2014
Ytd Avg. 2015

7.70%
11 Dec 15 (4.05%)
0.87%
7.37%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
14.59%
18.73%
-14.14%
22.2%
3.89%
8.82%
Max
Drawdown1
(22.46%)
Oct 07 - Oct 08
11 Dec 15 (2.90%)
18.45%
9.86%
24.8%
12.65%
4.31%
6.47%
14.61%
6.72%
(7.15%)
Feb 14 - May 14
11 Dec 15 (1.46%)
8.42%
4.6%
11.51%
5.82%
1.29%
12.75%
8.47%
3.65%
(3.66%)
Feb 14 - May 14
30 Nov 15
0.30%
8.19%
3.69%
14.99%
-1.27%
9.12%
4.33%
(2.45%)
Feb 14 - Jun 14
11 Dec 15
0.21%
6.92%
1.1%
15.93%
-4.72%
10.2%
28.88%
13.29%
8.36%
(16.39%)
Jun 08 - Nov 09
11 Dec 15
0.20%
6.59%
-5.24%
7.09%
5.75%
7%
8.25%
8.30%
7.82%
(17.94%)
Oct 07 - Oct 08
30 Nov 15 (0.32%)
1.32%
2.12%
-3.57%
-8.93%
4.9%
8.03%
4.06%
4.75%
(13.54%)
Sep 11 - Dec 13
11 Dec 15 (1.83%)
24.71%
-4.32%
21.51%
4.56%
-12.68%
5.4%
9.77%
11.65%
(21.60%)
May 08 - Feb 09
30 Nov 15
0.12%
0.61%
2.7%
5.27%
2.04%
0.83%
6.42%
10.74%
5.79%
(5.29%)
Jun 11 - Aug 11
16 Dec 15
1.75%
6.33%
1.54%
20.02%
14.91%
-8.75%
2.59%
6.47%
6.39%
(9.23%)
Dec 10 - Sep 11
30 Nov 15
2.54%
14.44%
10.8%
29.19%
26.9%
-19.85%
24.82%
13.88%
20.16%
(60.03%)
May 07 - Feb 09
31 Oct 15
3.04%
6.26%
-5.68%
30.08%
3.16%
8.22%
8.65%
(9.12%)
Jan 12 - Jun 12
15 Dec 15 (1.21%)
8.05%
3.96%
7.44%
8.72%
5.65%
2.79%
5.24%
8.17%
(26.47%)
Jun 07 - Sep 08

Source - HSBC
23
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
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
MOJNA ALPHA MASTER FUND EUR

Jakob Nordestedt, & Michael O'Mara
31 Dec 02
NORDIC ALPHA CLASS B - NOK

Thomas Raaschou, Christian T.
Nygaard
31 Aug 03

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 EUROP

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
$484M
Dec 15
235.84
66M
Oct 15
115.78
$93M
Jul 15
171.10
$87M
Aug 15
171.64
NOK776M
Oct 15
269.96
2'705M
Mar 15
807.22
3'494M
Sep 15
219.13
91M
Oct 15
151.25
19M
Oct 15
140.47
$130M
May 15
3,006.10
$206M
Nov 15
141.61
$115M
Oct 15
545.30
$442M
Nov 15
180.96
Date
MTD
YTD
2014
Ytd Avg. 2015

7.70%
15 Dec 15 (0.38%)
8.48%
6.72%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
16.17%
11.31%
4.29%
-0.13%
8.14%
7.32%
Max
Drawdown1
(21.75%)
Oct 07 - Feb 09
15 Dec 15 (1.91%)
5.49%
-5.61%
7.94%
4.37%
-0.27%
3.49%
2.68%
7.22%
(12.02%)
Sep 11 - Jul 12
11 Dec 15 (0.23%)
6.57%
-5.72%
14.82%
-4.33%
5.58%
22.25%
6.91%
6.31%
(11.33%)
Dec 13 - Aug 14
30 Sep 15
0.49%
1.36%
-3.32%
4.93%
-2.69%
1.39%
7.63%
4.33%
2.70%
(5.36%)
Dec 13 - Aug 14
31 Oct 15
0.89%
6.40%
14.46%
23.77%
12.14%
-14.91%
13.7%
8.51%
10.65%
(32.36%)
Dec 07 - Feb 09
30 Nov 15 (0.50%)
(15.93%)
5.48%
25.76%
30.69%
-20.56%
-0.06%
12.45%
17.04%
(50.64%)
Jan 94 - Jul 95
30 Nov 15
3.49%
14.19%
2.58%
32.52%
16.89%
-10.68%
13.54%
10.19%
10.56%
(12.25%)
May 08 - Dec 08
30 Nov 15
2.91%
19.84%
-4.99%
1.99%
11.22%
-0.28%
1.99%
5.67%
6.12%
(8.88%)
May 13 - Apr 14
04 Dec 15 (0.43%)
(14.74%)
2.97%
1.9%
8.07%
6.45%
-0.18%
3.57%
8.35%
(15.17%)
Dec 14 - Oct 15
11 Dec 15 (3.72%)
(2.08%)
13.94%
20.33%
29.45%
-11.71%
24.3%
10.92%
18.07%
(55.01%)
Jun 07 - Nov 08
11 Dec 15 (2.50%)
(2.85%)
3.63%
17.47%
2.95%
-0.84%
11.27%
4.31%
7.39%
(11.62%)
Jun 11 - May 12
11 Dec 15 (1.15%)
6.72%
-1.76%
4.48%
11.82%
4.88%
-3.08%
9.44%
8.65%
(16.98%)
Mar 00 - Jan 03
11 Dec 15 (1.59%)
8.37%
-4.8%
17.78%
15.22%
-10.33%
14.74%
9.13%
11.06%
(16.04%)
May 11 - Sep 11

Source - HSBC
24
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
TRIAS L/S FUND
Entrepreneur Partners AG / Kilian
Kentrup
30 Apr 12

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
98M
Oct 15
191.38
$386M
Dec 15
136.56
$654M
Nov 15
311.95
163M
Sep 15
249.10
Date
31 Dec 10
ATLAS FUNDAMENTAL TRADING

30 Jun 08
FUND LTD
Dmitry Balyasny, Managing Partner &
CIO
BEACONLIGHT OFFSHORE FUND

LTD
Ed Bosek
31 Dec 09
BLUEMOUNTAIN LONG SHORT

EQUITY FUND L.P.
LLC
30 Jun 11
CARLYLE LIQUID TACTICAL FUND

DGAM Team
31 Jul 14
DUET GLOBAL PLUS FUND

Jason McNab
31 Jul 10
M
M
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
2013
2012
33.7%
7.53%
2011
2010
Ann.
Return
Ann.
Volatility
19.60%
12.29%
Max
Drawdown1
(10.72%)
30 Nov 15
5.32%
25.39%
-2.65%
11.87%
13.74%
9.99%
(5.74%)
Feb 14 - Jul 14
30 Nov 15 (0.96%)
9.74%
2.64%
14.43%
6.9%
-1.72%
11.5%
11.34%
8.35%
(7.41%)
Apr 06 - Sep 06
11 Dec 15
1.87%
16.38%
-6.33%
8.9%
11.02%
3.56%
1.78%
9.52%
10.80%
(19.14%)
Aug 08 - Oct 08
142.43
$191M
Oct 15
1,447.43
$187M
Oct 15
139.71
$604M
Sep 15
157.34
$157M
Nov 15
99.51
$1'500M
Jun 15
125.89
$102M
Oct 15
115.86
$525M
Nov 15
2014
May 14 - Oct 14
$80M
Sep 15
144M
Apr 15
YTD
Ytd Avg. 2015

7.70%
15 Dec 15 (1.10%)
19.84%
11.08%
Equity-Diversified/Global
ANAVON MASTER FUND LTD
CLASS -BAvi Fruchter and Avraham Mevorah
MTD
31 Oct 15
Ytd Avg. 2015

5.88%
5.00%
1.14%
6.66%
11.45%
12.62%
5.19%
7.59%
7.66%
(8.57%)
Jul 11 - Sep 11
11 Dec 15 (0.69%)
3.55%
12.64%
8.54%
-3.47%
7.52%
7.2%
5.09%
8.43%
(13.57%)
Sep 11 - Jun 13
31 Oct 15
1.11%
8.32%
-4.32%
22.4%
6.8%
-5.78%
9.44%
5.90%
8.95%
(15.02%)
Mar 11 - Sep 11
11 Dec 15
2.60%
5.95%
19.48%
19.48%
3.66%
0.34%
10.72%
6.76%
(7.58%)
Jul 15 - Oct 15
30 Nov 15
0.70%
(3.89%)
3.54%
(0.37%)
8.78%
(10.41%)
Apr 15 - Sep 15
30 Nov 15 (0.13%)
0.99%
-0.38%
3.95%
11.05%
8.05%
6.14%
5.52%
3.04%
(2.56%)
Feb 14 - May 14
31 Oct 15
3.61%
8.63%
-0.21%
7.14%
-0.24%
5.17%
8.19%
(9.41%)
May 15 - Sep 15
17,381.65 15 Dec 15 (0.44%)
0.16%
-1.64%
1.85%
0.77%
0.49%
2.31%
4.21%
2.96%
(2.89%)
Apr 11 - May 12
210.15
15 Dec 15 (1.19%)
10.19%
6.78%
10.56%
19.44%
-12.63%
0.56%
8.64%
10.73%
(16.50%)
May 08 - Oct 08

Source - HSBC
25
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
GLADE BROOK GLOBAL
OFFSHORE FUND LTD CLASS-ANRPaul Hudson
30 Sep 11
HABROK LTD
Ketan Gadhia and Rahul Khanna
31 Mar 04

Russell Clark & Bobby Turnbull
31 Jan 01
KINSALE COMPASS FUND

Peter A Kinney
31 Oct 11
Q
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
LOREM IPSUM MASTER FUND LP

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
NEVSKY FUND PLC (COMPOSITE)

Martin Taylor and Nick Barnes
30 Sep 00
PARUS FUND PLC USD CLASS

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

FUND
John Burbank
31 Jul 00
$312M
Dec 15
1,403.49
$80M
Nov 15
304.75
$867M
Nov 15
707.38
$250M
Nov 15
160.56
$9'780M
Jul 15
785.53
$396M
Aug 15
124.76
$106M
Jun 15
116.17
$1'102M
Oct 15
169.95
$7'282M
Dec 15
472.01
$1'127M
Dec 15
253.66
$1'626M
May 15
1,671.91
$237M
Oct 15
1,116.55
$1'587M
Oct 15
1,317.39
$569M
Nov 15
575.10
$2'100M
Nov 15
1,106.93
30 Nov 15
MTD
YTD
2014
Ytd Avg. 2015

5.88%
0.48%
12.67%
-1.36%
2013
2012
2011
19.76%
13.1%
-6.77%
2010
Ann.
Return
Ann.
Volatility
8.47%
8.92%
Max
Drawdown1
(10.31%)
Feb 14 - Apr 14
30 Nov 15 (2.47%)
0.05%
7%
13.13%
6.27%
-14.36%
9.82%
10.02%
14.53%
(37.31%)
May 08 - Jan 09
16 Dec 15
4.79%
19.52%
12.63%
19.15%
16.28%
-2.98%
5.44%
14.05%
16.15%
(33.75%)
Feb 09 - Jun 10
30 Nov 15
0.29%
9.55%
6.56%
15.74%
16.75%
1.79%
12.29%
5.12%
(4.15%)
May 15 - Sep 15
11 Dec 15
0.40%
16.48%
11.49%
33.26%
17.87%
-20.07%
8.78%
15.42%
10.64%
(20.07%)
Dec 10 - Dec 11
11 Dec 15 (2.75%)
1.20%
-2.22%
8.97%
13.27%
-1.94%
3.12%
3.89%
4.83%
(7.37%)
May 11 - Sep 11
30 Nov 15 (3.90%)
(4.80%)
12.27%
8.69%
6.63%
14.72%
(18.51%)
May 15 - Sep 15
11 Dec 15 (1.76%)
3.00%
8.23%
23.82%
11.78%
-18.03%
8.5%
14.51%
12.55%
(30.15%)
Sep 87 - Oct 87
15 Dec 15 (0.24%)
10.89%
8.44%
21.61%
7.45%
9.74%
7.91%
13.18%
8.82%
(23.24%)
Oct 07 - Oct 08
15 Dec 15
2.78%
6.86%
6.3%
13.37%
6.83%
27.16%
8.04%
14.68%
9.34%
(7.61%)
Jan 15 - Apr 15
11 Dec 15 (0.41%)
14.70%
8.51%
16.46%
15.46%
-14.85%
11.38%
12.27%
11.29%
(30.04%)
May 08 - Nov 08
15 Dec 15 (0.45%)
2.05%
5.11%
12.16%
-0.14%
-7.06%
2.41%
3.80%
(7.23%)
May 11 - Dec 12
30 Nov 15 (0.60%)
0.95%
-1.43%
18.07%
14.61%
0.62%
10.27%
18.52%
13.75%
(22.14%)
Oct 07 - Feb 09
11 Dec 15
1.46%
13.50%
3.75%
26.37%
23.69%
-6%
11.71%
17.09%
14.05%
(15.49%)
Apr 11 - Sep 11
30 Nov 15 (3.40%)
8.99%
0.9%
23.02%
11.08%
-18.74%
18.26%
16.96%
25.30%
(52.74%)
Jun 08 - Dec 08

Source - HSBC
26
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
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
PLATINUM FUND LTD

Kerr Neilson
31 May 94
RWC GLOBAL INNOVATION

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
STANDARD PACIFIC CAPITAL -BDoug Dillard and Raj Venkatesan
30 Sep 95
STK CAPITAL GLOBAL EQUITIES

Daniel Grozdea
30 Nov 10
Q
M
$610M
Nov 15
141.95
$430M
Nov 15
236.04
$410M
Sep 15
85.93
$74M
Nov 15
140.15
$645M
Aug 15
709.29
$445M
Aug 15
1,406.26
$120M
Jan 15
527.82
$145M
Oct 15
537.18
$107M
Oct 15
135.16
30 Nov 15
31 Dec 04
ALPHAGEN HOKUTO FUND LTD CLASS A

John Stewart & Robert Tull
31 Oct 00
ALPHAGEN JAPAN ABS RETURN

FD, LTD
William Garnett and Jeremy Hall
30 Jun 00
MARATHON VERTEX JAPAN FD,

LTD CLASS B
William Arah
31 May 03
M
M
YTD
2014
Ytd Avg. 2015

5.88%
0.00%
7.12%
-6.24%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
19.89%
12.13%
-7.19%
13.28%
6.67%
8.15%
Max
Drawdown1
(10.06%)
Apr 11 - Dec 11
30 Nov 15 (8.20%)
11.56%
9.94%
45.5%
-5.67%
-19.91%
72.77%
11.98%
26.13%
(43.24%)
Jun 08 - Nov 08
04 Dec 15 (0.41%)
(2.41%)
-2.67%
21.76%
17.44%
-13.51%
5.19%
10.51%
12.13%
(30.48%)
Oct 07 - Feb 09
14 Dec 15 (0.31%)
10.23%
0.29%
12.92%
6.59%
0.45%
4.86%
5.92%
6.77%
(6.47%)
Feb 14 - Apr 14
04 Dec 15 (1.60%)
6.81%
8.36%
36.28%
1.03%
-24.27%
-11.82%
12.34%
20.70%
(50.10%)
Apr 08 - Aug 12
04 Dec 15 (0.40%)
2.15%
2.7%
18.09%
-0.88%
-17.2%
2.67%
17.48%
17.37%
(37.25%)
Oct 07 - Feb 09
04 Dec 15
1.44%
4.03%
4.63%
20.89%
8.13%
-20.97%
-1.87%
12.29%
17.44%
(56.02%)
Oct 07 - Feb 09
31 Oct 15
3.10%
5.53%
-0.04%
20.2%
-4.66%
-5.24%
8.56%
8.72%
8.22%
(15.87%)
Jul 11 - Nov 12
31 Oct 15
4.72%
(1.76%)
5.27%
16.09%
9.35%
-1.64%
4.67%
6.31%
8.57%
(10.57%)
Feb 15 - Sep 15
Equity-Diversified/Japan
AKAMATSU FUND
Philip Kay
MTD
$104M
Nov 15
207.34
$161M
Feb 15
220.30
$346M
Feb 15
288.57
$465M
Feb 15
2,959.56
30 Nov 15
Ytd Avg. 2015

7.05%
0.80%
3.16%
5.88%
21.71%
-3.45%
-0.85%
2.88%
6.90%
6.99%
(12.18%)
Mar 12 - Oct 12
11 Dec 15
0.11%
4.81%
0.57%
7.4%
-1.01%
0.13%
7.8%
5.36%
4.17%
(4.80%)
May 11 - Aug 12
11 Dec 15
0.37%
8.12%
-1.17%
26.63%
-0.58%
-8.58%
9.24%
7.10%
9.96%
(19.05%)
Feb 11 - Aug 12
30 Nov 15
0.87%
15.95%
2.91%
23.38%
4.89%
0.59%
-0.21%
9.06%
8.26%
(11.76%)
Jun 09 - Oct 10

Source - HSBC
27
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Equity-Diversified/Japan
MARTIN CURRIE ARF - JAPAN
FUND
John-Paul Temperley
30 Jun 00

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

Perf)
Hugh Sloane, Alex Kydd
UMJ KOTOSHIRO FUND

Masahiro Koshiba
31 Oct 08
$259M
Aug 15
21.78
$376M
Oct 15
455.84
$140M
Aug 15
190.29
$228M
Nov 15
207.58
$92M
Oct 15
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
31 Jan 93
ALLIANCE BERNSTEIN SELECT US 30 Nov 99

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

A
Malcolm Fairbairn
Ytd Avg. 2015

7.05%
1.30%
1.09%
-5.48%
11 Dec 15 (2.33%)
04 Dec 15 (0.60%)
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
28.56%
4.23%
-8.4%
6.63%
5.17%
8.30%
Max
Drawdown1
(15.76%)
16.32%
10.82%
82.11%
44.54%
7.42%
18.93%
13.33%
19.33%
(55.47%)
4.43%
0.41%
62.51%
31.05%
-8.33%
-4.22%
5.70%
19.96%
(35.57%)
Mar 08 - Jul 10
30 Nov 15
0.96%
2.52%
15.2%
32.05%
17.83%
12.2%
-2.75%
10.86%
7.79%
(9.48%)
Jul 09 - Sep 10
1,537.30
Ytd Avg. 2015

(4.64%)
11 Dec 15 (4.18%)
(4.64%)
-34.59%
4.08%
11.42%
-14.62%
40.35%
15.08%
38.11%
(81.79%)
Mar 98 - Sep 98
$5'133M
Oct 15
262.93
$545M
Oct 15
225.57
$140M
Jan 15
57.00
$970M
Oct 15
140.01
Ytd Avg. 2015

4.80%
11 Dec 15 (0.42%)
6.51%
4.01%
16.77%
3.87%
-0.47%
3.63%
9.37%
5.86%
(10.72%)
May 07 - Mar 08
11 Dec 15 (0.37%)
6.83%
6.93%
6.42%
4.27%
2.48%
6.49%
7.96%
5.56%
(11.70%)
Jun 08 - Oct 08
30 Nov 15 (1.50%)
(0.63%)
-15.72%
63.74%
1.06%
-1.11%
6.12%
10.15%
15.01%
(35.27%)
May 98 - Oct 98
16 Dec 15
0.20%
6.48%
5.4%
10.7%
2.91%
4.22%
5.06%
6.67%
3.73%
(3.17%)
Jun 11 - Sep 11
Equity-Diversified/USA
AJR INTERNATIONAL (BVI), INC. A/1
Alexander J. Roepers
2014
Jan 06 - Oct 10
Equity-Diversified/UK
ALPHAGEN OCTANIS CLASS A
Ben Wallace & Luke Newman
YTD
Apr 10 - May 12
Equity-Diversified/Russia
FIREBIRD NEW RUSSIA FUND, LTD 30 Jun 96
- CLASS A
Harvey Sawikin & Ian Hague
30 Nov 15
MTD
$463M
Feb 15
1,083.30
$126M
Oct 15
4,536.34
$452M
Oct 15
210.63
04 Dec 15
Ytd Avg. 2015

(1.73%)
3.43%
(3.59%)
-6.92%
20.33%
3.85%
-6%
23.19%
10.99%
18.63%
(44.44%)
May 08 - Dec 08
15 Dec 15 (0.76%)
(0.76%)
2.76%
16.27%
6.17%
0.81%
8.13%
9.88%
7.12%
(9.98%)
May 08 - Feb 09
11 Dec 15 (0.34%)
2.23%
4.75%
11.59%
3.48%
-2.86%
2.94%
6.48%
4.14%
(5.23%)
Apr 11 - Dec 11

Source - HSBC
28
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
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
Martin Friedman
31 Dec 07
GLENVIEW CAPITAL PARTNERS

(CAYMAN), LTD.
Lawrence M. Robbins
31 Dec 00
GREENLIGHT CAPITAL
OFFSHORE, LTD - A/1
David Einhorn
30 Sep 96
IVORY CAPITAL FLAGSHIP

STRATEGY
Curtis Macnguyen
30 Nov 98
IVORY OPTIMAL FUND LTD

Curtis Macnguyen
31 Dec 08
MARK PARTNERS LP
Morris Mark
30 Jun 85
MARLIN FUND LP
Michael Masters
30 Jun 95
NEUBERGER BERMAN US LONG

SHORT EQUITY FUND
Neuberger Berman Group LLC
28 Feb 14
Q
Q
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
$2'433M
Oct 15
10,972.49 31 Oct 15
MTD
YTD
2014
Ytd Avg. 2015

(1.73%)
6.40%
1.62%
5.04%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
22.23%
9.24%
-6.89%
17.35%
14.88%
15.56%
Max
Drawdown1
(39.02%)
May 08 - Feb 09
$97M
Oct 15
262.76
$393M
Aug 15
802.60
$551M
Mar 15
401.26
$158M
Nov 15
274.76
$3'733M
Oct 15
602.35
30 Nov 15
5.92%
9.57%
3.42%
50.32%
15.2%
-8.95%
20.64%
13.12%
11.60%
(13.70%)
Mar 11 - Sep 11
30 Nov 15 (1.34%)
(0.27%)
4.92%
8.88%
4.49%
-0.66%
5.96%
11.63%
7.85%
(19.53%)
Apr 98 - Sep 98
30 Nov 15 (3.90%)
(23.62%)
-1.31%
22.28%
-14.08%
0.7%
1.76%
9.12%
13.43%
(29.32%)
Aug 14 - Sep 15
30 Nov 15
4.87%
20.12%
9.76%
25.15%
25.9%
14.77%
21.81%
13.61%
13.44%
(27.44%)
May 08 - Feb 09
30 Nov 15 (1.40%)
(17.00%)
14.44%
42.9%
24.24%
-10.95%
14.22%
12.79%
16.31%
(49.17%)
May 07 - Dec 08
$4'047M 136,074.95 30 Nov 15 (4.88%)

Jan 15
$859M
Nov 15
4,211.21
11 Dec 15 (0.75%)
$1'846M
Nov 15
197.60
$99M
Jul 15
6,863.98
$427M
Nov 15
12,527.74 30 Nov 15 (0.00%)
(20.38%)
7.51%
18.76%
7.66%
1.86%
12.47%
14.58%
11.05%
(27.17%)
May 08 - Oct 08
(5.60%)
6.8%
17.07%
10.5%
-3.54%
2.12%
8.80%
5.97%
(12.61%)
May 08 - Nov 08
11 Dec 15 (1.11%)
(7.44%)
11.31%
28.31%
16.41%
-4.37%
4.65%
10.30%
8.41%
(10.14%)
Apr 11 - Sep 11
30 Nov 15
1.20%
6.97%
1.33%
38.27%
19.89%
-8.25%
20.26%
14.90%
20.71%
(76.22%)
Dec 99 - Sep 02
(6.36%)
21.72%
77.47%
31.53%
-17.77%
41.63%
26.67%
24.93%
(60.15%)
Oct 07 - Feb 09
$288M
Aug 15
10.04
$540M
Nov 15
204.34
$2'686M
Mar 15
825.92
16 Dec 15
2.97%
(4.02%)
4.61%
0.22%
6.54%
(8.11%)
Mar 15 - Nov 15
30 Nov 15
1.45%
17.13%
29.71%
34.49%
27.78%
15.66%
(15.77%)
Oct 14 - Jan 15
30 Sep 15 (6.34%)
(12.02%)
-2.13%
30.02%
25.66%
-2.97%
14.65%
9.29%
14.61%
(42.55%)
May 07 - Feb 09

Source - HSBC
29
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
RENAISSANCE INSTITUTIONAL
EQUITIES LP (B)
Renaissance Technologies LLC
31 Jul 05
RWC US ABSOLUTE ALPHA FUND - 30 Sep 09

CLASS B
Mike Corcell
SAB OVERSEAS FUND LTD

Scott Bommer
31 Jul 00
SEMINOLE OFFSHORE FUND

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

Joseph DiMenna / Martin Zweig
31 May 87
$2'112M
Jul 15
251.56
$483M
Nov 15
139.92
$525M
Mar 15
420.40
$1'147M
Oct 15
747.58
11 Dec 15
MTD
YTD
2014
Ytd Avg. 2015

(1.73%)
1.02%
16.12%
13.84%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
16.78%
8.29%
34.12%
15.32%
9.30%
10.40%
Max
Drawdown1
(35.73%)
May 07 - Apr 09
15 Dec 15 (1.14%)
4.90%
5.45%
14.28%
16.32%
-2.25%
-4.56%
5.56%
5.85%
(9.19%)
Apr 10 - Dec 11
31 Aug 15 (5.20%)
(10.45%)
-3.59%
23.57%
21.5%
-0.71%
6.69%
9.98%
11.82%
(17.57%)
Mar 10 - Aug 10
11 Dec 15 (0.60%)
(7.86%)
11.04%
23.18%
5.08%
-0.7%
9.85%
12.15%
12.14%
(15.62%)
May 02 - Mar 03
$1'894M 110,345.80 31 Oct 15 (0.52%)

Jul 15
2.59%
4.64%
21.25%
-1.18%
-2.37%
0.43%
14.14%
14.86%
(50.23%)
Feb 00 - Dec 02
Equity-Energy
Ytd Avg. 2015
(35.36%)
Equity-Energy/USA
DORSET ENERGY FUND, LTD CLASS A
David M. Knott, Donald Textor
31 Oct 00
$233M
May 15
26.17
Ytd Avg. 2015

(35.36%)
04 Dec 15 (6.19%) (35.36%)
-27.2%
29.76%
-6.43%
-1.27%
16.12%
6.58%
23.20%
(60.88%)
Jun 14 - Dec 15
Equity-Financial
Ytd Avg. 2015
8.71%
Equity-Financial/Global
Abaco Asset Management LLP
31 May 03
LANSDOWNE GLOBAL FINANCIALS 30 Jun 04

FUND LTD. -N-USD
William de Winton
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
$388M
Nov 15
237.34
$183M
Apr 15
281.54
$97M
Dec 15
151.28
$821M
Nov 15
306.65
30 Nov 15
Ytd Avg. 2015

8.71%
1.42%
10.87%
-11.47%
15.74%
4.84%
12.67%
2.31%
7.15%
5.96%
(11.68%)
Nov 13 - Dec 14
11 Dec 15 (3.92%)
(2.04%)
-12.33%
23.03%
17.78%
-20.82%
-1.55%
9.46%
13.18%
(26.25%)
Apr 10 - May 12
15 Dec 15
0.12%
9.71%
6.52%
5.76%
-0.75%
3.21%
7.64%
5.98%
5.47%
(8.01%)
Nov 11 - Aug 12
30 Nov 15
1.37%
15.18%
-6.79%
30.5%
24.94%
1.14%
10.31%
7.66%
16.55%
(67.54%)
Dec 07 - Nov 08

Source - HSBC
30
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Equity-Financial/Global
WELLINGTON MANAGEMENT INV
BERMUDA LTD BAY POND A/1 NI
Nicholas C. Adams, Partner
31 Dec 95
HY
$4'996M
Nov 15
239.26
Date
MTD
YTD
2014
Ytd Avg. 2015

8.71%
30 Nov 15 (0.60%)
9.81%
-1.68%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
20.27%
20.41%
-12.53%
18.25%
17.27%
16.34%
Max
Drawdown1
(63.22%)
Apr 98 - Mar 99
Equity-Healthcare
Ytd Avg. 2015
(1.31%)
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
VISIUM INSTITUTIONAL PARTNERS 31 May 10

FUND LTD
Jacob Gottlieb, Visium Asset
Management
$866M
Oct 15
333.49
$64M
Nov 15
211.83
$209M
Nov 15
15.01
$506M
Oct 15
136.51
$89M
Nov 15
132.85
30 Nov 15
Ytd Avg. 2015

(1.31%)
2.25%
(6.98%)
7.67%
26.54%
6.56%
3.99%
3.71%
8.41%
8.69%
(17.89%)
Oct 07 - Sep 08
30 Nov 15
7.05%
10.05%
20.54%
59.69%
29.37%
22.17%
(17.78%)
Feb 14 - May 14
08 Dec 15 (0.35%)
(2.78%)
21.95%
27.17%
-0.45%
13.98%
14.24%
(15.51%)
Jul 15 - Oct 15
15 Dec 15 (1.51%)
(8.97%)
7.41%
26.97%
5.51%
2.72%
1.46%
5.44%
9.44%
(14.06%)
Mar 15 - Oct 15
11 Dec 15 (0.54%)
2.13%
2.11%
20.91%
5.73%
1.28%
-1.61%
5.27%
7.02%
(9.42%)
Jun 15 - Oct 15
Equity-Mid-Small Cap
Ytd Avg. 2015
(4.66%)
Equity-Mid-Small Cap/Europe
POLAR CAPITAL EUROPEAN
FORAGER FUND LTD - AX
Robert Gurner & Andrew Marsh
31 Jul 03
584M
Oct 15
313.43
04 Dec 15
$360M
Oct 15
461.86
31 Oct 08
$100M
Jul 15
11.93%
2.39%
10.46%
9.69%
7.15%
(21.47%)
11 Dec 15
Ytd Avg. 2015

(4.70%)
1.77%
(4.70%)
-2.54%
13.46%
12.7%
1.02%
12.33%
11.89%
8.46%
(13.78%)
Jun 14 - Nov 15
Equity-Mid-Small Cap/USA
COOPER CREEK PARTNERS LLC
Robert Schwartz
11.79%
Oct 07 - Feb 09
Equity-Mid-Small Cap/UK
ALPHAGEN VOLANTIS FUND, LTD - 30 Apr 02
A (USD)
Rob Giles & Adam McConkey
Ytd Avg. 2015

(3.16%)
0.31%
(3.16%)
4.76%
180.48
Ytd Avg. 2015

(4.90%)
30 Nov 15 (0.80%)
4.96%
2%
27.15%
9.93%
-13.51%
13.03%
8.69%
9.96%
(22.12%)
Feb 11 - Sep 11

Source - HSBC
31
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Equity-Mid-Small Cap/USA
HARBOUR HOLDINGS LTD
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
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
$188M
Oct 15
169.16
$166M
Nov 15
2,167.86
$685M
Nov 15
2,477.73
$69M
Nov 15
2,717.71
$66M
Nov 15
339.83
31 Oct 15
MTD
YTD
2014
Ytd Avg. 2015

(4.90%)
6.60%
(9.83%)
8.83%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
26.65%
14.64%
-1.07%
20.45%
17.33%
22.82%
Max
Drawdown1
(49.05%)
May 07 - Feb 09
30 Nov 15 (2.34%)
(7.64%)
3.63%
15.93%
9.43%
-4.99%
13.86%
8.18%
7.53%
(9.47%)
Jun 15 - Nov 15
30 Nov 15 (0.22%)
(12.40%)
22.21%
79.39%
34.84%
-34%
39.75%
18.75%
36.32%
(70.54%)
Feb 00 - Sep 02
30 Nov 15 (4.12%)
(4.53%)
12.36%
34.84%
24.02%
-9.02%
13.55%
15.13%
15.13%
(50.33%)
Jun 07 - Apr 09
30 Nov 15 (2.67%)
0.06%
-3.87%
38.52%
17.18%
20.24%
35.7%
12.35%
16.08%
(49.97%)
Jun 07 - Feb 09
Equity-Pharma-Biotech
Ytd Avg. 2015
9.64%
Equity-Pharma-Biotech/USA
PERCEPTIVE LIFE SCIENCES
OFFSH 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
$1'143M
Sep 15
1,521.02
$53M
Aug 15
2,487.52
$3'587M
Nov 15
277.73
Ytd Avg. 2015

9.64%
11 Dec 15 (4.01%)
27.87%
20.3%
43.88%
27.75%
5.82%
16.22%
19.37%
16.58%
(24.43%)
Dec 07 - Nov 08
30 Nov 15 (1.38%)
(3.05%)
25.55%
20.95%
13.88%
-8.27%
2.58%
6.52%
11.39%
(32.70%)
Oct 07 - Feb 09
11 Dec 15
0.03%
4.11%
7.78%
18.57%
10.31%
1.89%
24.51%
10.62%
8.74%
(15.79%)
Aug 08 - Dec 08
Equity-Technology
Ytd Avg. 2015
6.04%
Equity-Technology/Global
EXANE ARCHIMEDES FUND CLASS 30 Sep 06
A CAP
Gilles Lenoir and Csar Zeitouni
957M
Oct 15
Ytd Avg. 2015

2.17%
17,382.43 15 Dec 15 (0.56%)
2.17%
8.21%
$414M
Oct 15
-0.19%
3.99%
6.82%
6.19%
4.40%
(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
3.84%
480.53
30 Nov 15
Ytd Avg. 2015

9.91%
2.95%
9.91%
30%
11.22%
0.65%
-0.21%
8.34%
10.32%
11.59%
(19.91%)
May 08 - Nov 08

Source - HSBC
32
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

1.89%
0.73%
1.89%
4.09%
2.98%
10.88%
-2.7%
-2.51%
6.93%
7.31%
Max
Drawdown1
Equity-Utility
Ytd Avg. 2015
8.98%
Equity-Utility/Europe
CYGNUS UTILITIES,
INFRASTRUCTURE &
RENEWABLES
Cygnus Asset Management
30 Apr 06
$270M
Nov 15
1,902.13
28 Feb 13
$430M
Nov 15
(10.69%)
Nov 09 - Aug 11
Equity-Utility/Global
ELECTRON GLOBAL FUND, L.P.
Electron Capital Partners, LLC
30 Nov 15
129.38
Ytd Avg. 2015

16.08%
11 Dec 15 (0.69%)
16.08%
-2.84%
14.71%
9.70%
7.93%
(7.85%)
May 15 - Aug 15

Source - HSBC
33
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
26.16%
28.67%
-4.16%
6.71%
9.29%
13.94%
Max
Drawdown1
Equity-Diversified
Ytd Avg. 2015
(9.12%)
MARCATO INTERNATIONAL LTD
Richard McGuire, Marcato Capital
Management LLC
30 Sep 10
$1'784M
Aug 15
158.91
Ytd Avg. 2015

(9.12%)
15 Dec 15 (3.40%)
(9.12%)
5.33%
(17.63%)
Mar 11 - Sep 11
Merger-Arbitrage
Ytd Avg. 2015
(0.55%)
Merger-Arbitrage/Global
TIG ARBITRAGE ENHANCED FUND 31 Dec 06
Drew Figdor
$371M
Nov 15
215.21
Ytd Avg. 2015

(0.55%)
30 Nov 15 (0.05%)
(0.55%)
1.72%
13.34%
7.34%
6.85%
8.77%
8.97%
7.88%
(10.97%)
Oct 07 - Oct 08
Multi-Strategy
Ytd Avg. 2015
(4.72%)
Multi-Strategy/Europe
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
$379M
Oct 15
111.25
$99M
Oct 15
149.21
ALTAI CAPITAL PARTNERS

OFFSHORE, LTD
ALTAI CAPITAL MANAGEMENT,
L.P.
31 Oct 09
ANDALUSIAN CORPORATE
OPPORTUNITIES FUND LP
Michael Reeber, Harrison M.
Wreschner
31 Jul 09
14.37%
10.74%
-8.79%
2.29%
6.49%
(10.96%)
Apr 11 - Nov 11
04 Dec 15
0.78%
18.10%
0.25%
17.1%
7.62%
12.07%
7.37%
(4.64%)
Feb 14 - Jul 14
Multi-Strategy/Global
AG SUPER FUND INTERNATIONAL, 30 Apr 93
LTD
Michael Gordon & Dave Kamin
Ytd Avg. 2015

10.66%
15 Dec 15 (2.46%)
3.22%
-6.7%
$652M
Sep 15
1,631.13
$183M
Oct 15
148.19
$202M
Nov 15
218.96
Ytd Avg. 2015

(7.00%)
11 Dec 15 (1.55%)
(6.41%)
2.63%
16.86%
13.67%
-2.62%
13.42%
9.05%
5.42%
(24.78%)
Jun 07 - Dec 08
31 Oct 15
7.53%
(32.47%)
24.91%
52.07%
-0.05%
-0.36%
11.41%
6.77%
22.97%
(44.33%)
Jun 15 - Sep 15
30 Nov 15 (3.57%)
(19.86%)
5.37%
41.15%
30.08%
1.49%
19.07%
13.16%
11.19%
(25.18%)
Aug 14 - Nov 15

Source - HSBC
34
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
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
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
OWL CREEK OVERSEAS FUND,

LTD
Jeffrey Altman
31 Jan 02

William Ackman
31 Dec 04
Q
Q
Q/Y
PSAM WORLDARB MASTER FUND 31 Aug 98

LTD
P. Schoenfeld Asset Management LP
SOLUS SOLA LTD CL. I

Chris Pucillo, Scott Martin, CJ
Lanktree
31 Dec 01
SOMERSET SPECIAL
OPPORTUNITIES FUND LP
Robert Feingold
31 Jul 07
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, Jason Cross
31 Dec 01
$7'257M
Mar 15
496.68
$61M
Aug 15
201.65
$1'027M
Oct 15
259.55
$142M
Nov 15
325.33
$160M
Oct 15
137.98
$2'714M
Oct 15
4,468.10
$4'761M
Nov 15
4,117.82
$1'250M
Nov 15
341.12
$3'990M
Nov 15
1,228.19
$122M
Oct 15
161.45
$2'964M
Aug 15
224.29
$172M
Dec 15
4,376.36
$2'500M
Nov 15
150.38
$489M
Aug 15
548.35
Date
MTD
YTD
2014
Ytd Avg. 2015

(7.00%)
11 Dec 15 (0.45%)
1.47%
5.15%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
10.24%
8.49%
1.59%
9.8%
8.29%
3.71%
Max
Drawdown1
(11.22%)
Oct 07 - Nov 08
30 Nov 15
0.60%
(9.35%)
1.92%
11.65%
20.78%
-1.62%
17.51%
9.91%
9.43%
(16.91%)
Jun 14 - Sep 15
30 Nov 15 (1.48%)
(14.16%)
5.67%
15.74%
3.8%
-1.09%
22.8%
8.03%
9.60%
(27.67%)
Jul 07 - Dec 08
30 Nov 15 (0.54%)
15.37%
8.97%
26.85%
21.93%
12.4%
16.46%
18.59%
13.18%
(20.31%)
Dec 08 - Feb 09
31 Oct 15
0.99%
6.09%
1.31%
9.44%
11.94%
4.8%
7.01%
5.50%
(8.21%)
Mar 12 - Jun 12
11 Dec 15 (0.50%)
(3.61%)
-8%
48.63%
11.07%
-15.44%
2.36%
11.40%
12.69%
(20.92%)
Mar 10 - Sep 11
08 Dec 15 (3.00%)
(19.36%)
37.24%
9.3%
12.39%
-2.03%
21.68%
13.81%
14.31%
(26.11%)
Jul 15 - Dec 15
30 Nov 15 (1.63%)
(6.02%)
3.51%
18.08%
10.66%
1.94%
7.94%
7.37%
6.65%
(29.14%)
May 07 - Nov 08
04 Dec 15 (0.41%)
(0.44%)
10.04%
31.78%
9.11%
-1.73%
24.19%
19.72%
13.65%
(21.93%)
Feb 08 - Apr 09
31 Oct 15
0.51%
(8.45%)
-7.02%
12.75%
11.33%
-1.25%
18.7%
5.97%
10.50%
(25.61%)
Aug 08 - Mar 09
11 Dec 15 (2.08%)
3.61%
10.52%
40.06%
0.9%
3.98%
17.92%
8.46%
13.12%
(30.56%)
May 07 - Feb 09
30 Nov 15 (7.06%)
(19.81%)
15.65%
22.84%
52.21%
-8.38%
24.28%
21.74%
29.88%
(31.26%)
Feb 11 - Oct 11
11 Dec 15 (2.72%)
(2.97%)
7.65%
15.74%
6.77%
-0.07%
10.94%
6.80%
7.56%
(13.84%)
Jun 14 - Sep 15
11 Dec 15 (0.91%)
(2.63%)
6.16%
18.09%
11.38%
1.2%
17.25%
12.97%
9.45%
(34.40%)
Jun 08 - Dec 08

Source - HSBC
35
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Multi-Strategy/USA
MOAB PARTNERS OFFSHORE
FUND LTD
Moab Capital Partners, LLC, Michael
Rothenberg
31 Mar 06
$158M
Oct 15
219.98
Date
MTD
YTD
2014
Ytd Avg. 2015

3.37%
11 Dec 15 (0.60%)
3.37%
9.77%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
18.26%
4.76%
-0.82%
9.1%
8.46%
7.42%
Max
Drawdown1
(16.75%)
Aug 08 - Feb 09

Source - HSBC
36
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
22.85%
-4.45%
2011
2010
Ann.
Return
Ann.
Volatility
7.10%
10.33%
Max
Drawdown1
Fixed Income
Ytd Avg. 2015
1.93%
Fixed Income/Global
AXONIC SYSTEMATIC ARBITRAGE 31 Mar 12
OVERSEAS FUND LTD
Olivier De Bellefonds, Arnaud De
Bevy
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
III RELATIVE VALUE CREDIT

STRATEGIES FUND LTD
Lester Coyle
31 Oct 05
KLS DIVERSIFIED FUND LTD

31 Jul 08
Jeff Kronthal ; Harry Lengsfield ; John
Steinhardt
LMR ALPHA RATES TRADING

FUND, LTD
LMR Partners
31 May 14
LONDON DIVERSIFIED FUND, LTD - 30 Jun 05

E
Robert Standing
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
Q
$254M
Oct 15
128.63
$5'600M
Oct 15
219.37
$2'100M
Nov 15
6,993.96
$7'870M
Nov 15
258.40
$118M
Oct 15
4,079.69
$139M
Aug 15
1,739.33
$1'003M
Dec 15
165.15
$421M
Nov 15
120.83
$152M
Jul 15
1,076.68
$39M
Nov 15
191.31
$1'104M
Dec 15
143.77
$863M
Dec 15
1,895.82
$205M
Dec 15
192.90
30 Nov 15
Ytd Avg. 2015

1.93%
0.68%
(7.58%)
18.57%
(10.06%)
Jun 12 - Sep 12
14 Dec 15
1.16%
2.53%
3.78%
6.04%
14.73%
19.93%
11.13%
8.90%
5.04%
(10.54%)
Jun 08 - Dec 08
11 Dec 15 (1.75%)
0.53%
5.23%
10.83%
34.27%
-13.5%
28.71%
10.51%
9.08%
(20.93%)
Jan 08 - Feb 09
11 Dec 15 (0.05%)
7.16%
8.15%
7.56%
0.43%
6.21%
9.57%
9.75%
4.33%
(7.41%)
Feb 08 - Mar 08
11 Dec 15 (0.04%)
1.41%
2.87%
13.44%
11.83%
9.03%
18.53%
6.46%
10.66%
(54.77%)
Jan 08 - Nov 08
11 Dec 15 (0.03%)
(7.17%)
5.23%
8.5%
10.22%
10.36%
16.34%
5.62%
7.66%
(31.27%)
Nov 07 - Dec 08
30 Nov 15 (0.90%)
0.46%
6.76%
1.58%
7.35%
4.85%
11.64%
7.08%
3.35%
(4.10%)
Apr 13 - Jul 13
11 Dec 15
0.20%
15.15%
4.93%
13.15%
2.71%
(0.15%)
Mar 15 - Apr 15
31 Oct 15 (0.86%)
(3.26%)
0.27%
0.45%
4.86%
3.75%
7.55%
0.72%
6.33%
(29.25%)
Jan 08 - Dec 08
11 Dec 15
0.82%
(2.38%)
-4.09%
3.38%
4.47%
2.27%
12.17%
8.50%
5.54%
(8.75%)
Oct 13 - Jun 15
30 Nov 15
1.36%
11.12%
2.27%
7.96%
11.71%
4.89%
9.49%
6.07%
(7.68%)
Mar 12 - May 12
04 Dec 15 (0.98%)
1.71%
-3.34%
2.51%
6.02%
8.37%
6.65%
6.71%
3.91%
(6.61%)
May 13 - Aug 14
11 Dec 15
0.61%
5.42%
-0.27%
3.36%
1.91%
6.58%
5.84%
5.49%
8.48%
(23.61%)
Jul 08 - Oct 08

Source - HSBC
37
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

2.03%
0.15%
2.03%
4.48%
4.95%
4.21%
-3.61%
2.91%
4.03%
4.55%
Max
Drawdown1
Arbitrage
Ytd Avg. 2015
2.03%
Arbitrage/Global
HSBC MAA FUND USD
15 Jun 95
HSBC Alternative Investments Limited
Q/M
$90M
May 15
224.47
30 Nov 15
(25.30%)
Jul 07 - Dec 08
Event Driven
Ytd Avg. 2015
(2.39%)
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
2,297.70
$42M
May 15
119.65
$68M
May 15
132.27
Ytd Avg. 2015

(2.39%)
11 Dec 15 (0.07%)
(4.40%)
-0.44%
8.61%
5.91%
-12.46%
6.14%
6.14%
6.47%
(23.23%)
Jun 08 - Dec 08
30 Nov 15 (0.14%)
(0.55%)
2.75%
9.19%
8.74%
-7.47%
17.52%
4.41%
5.31%
(9.16%)
Feb 11 - Dec 11
30 Nov 15 (1.18%)
(2.22%)
4.75%
13.97%
20.63%
-3.5%
0.85%
3.24%
9.45%
(35.45%)
Jun 08 - Mar 09
Macro
Ytd Avg. 2015
1.68%
Macro/Global
MASTERS FUND LTD MAGNOLIA
SERIES
Sean M. Doyle
31 Dec 96
$241M
Nov 15
5,345.94
30 Nov 15
Ytd Avg. 2015

1.68%
2.29%
1.68%
1.97%
11.1%
1.49%
-0.36%
7.1%
9.26%
8.41%
(9.96%)
Jul 98 - Oct 98
Multi-Strategy
Ytd Avg. 2015
1.54%
DIAMOND CAPITAL MANAGEMENT 31 Oct 02
Elchanan Jaglom, Daniel Jaglom
GAM DIVERSITY I INC - US$ CLASS 31 Dec 89

David Smith
$133M
Jul 15
184.03
$506M
Jun 15
734.34
31 Oct 15
Ytd Avg. 2015

1.54%
0.85%
1.54%
1.42%
10.45%
2.61%
-1.97%
4.05%
4.80%
4.15%
(14.18%)
Jun 08 - Dec 08
14 Dec 15 (1.08%)
(2.94%)
0.19%
10.49%
6.67%
-3.44%
-2.55%
7.98%
7.79%
(19.64%)
Jan 94 - Jan 95

Source - HSBC
38
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
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

-USD CLASS
Hsbc Alternative Inv. Ltd
31 Oct 09
$770M
Jul 15
345.19
$2'012M
May 15
346.31
$2'012M
May 15
169.64
212M
Aug 15
96.99
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

1.54%
14 Dec 15 (1.35%)
0.92%
4.08%
-0.45%
2.83%
-4.11%
5.97%
6.87%
5.75%
Max
Drawdown1
(7.34%)
Apr 13 - Oct 13
30 Nov 15
1.11%
4.37%
4.77%
8.51%
5.4%
-3.37%
4.68%
6.57%
6.13%
(18.30%)
Jun 08 - Dec 08
30 Nov 15
2.01%
6.99%
7.61%
15.12%
8.72%
-8.76%
7.18%
4.92%
10.99%
(37.09%)
Jun 08 - Dec 08
09 Dec 15 (0.57%)
(1.67%)
-1.57%
7.25%
1.38%
-7.51%
-0.37%
(0.49%)
3.80%
(8.81%)
Apr 10 - Dec 11
Trading
Ytd Avg. 2015
4.13%
Trading/Global
HSBC TRADING ADVANTEDGE
31 Oct 05
FUND
$63M
Sep 15
157.40
30 Nov 15
Ytd Avg. 2015

4.13%
4.43%
4.13%
16.59%
-8.75%
-5.39%
-1.62%
8.82%
4.60%
9.81%
(20.93%)
Apr 11 - Sep 13

Source - HSBC
39
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
3.11%
20.19%
-18.03%
47.56%
14.66%
43.71%
Max
Drawdown1
Equity-Diversified
Ytd Avg. 2015
2.18%
Equity-Diversified/Emerging
Alexander Branis
31 Aug 96
$558M
Oct 15
135.71
Ytd Avg. 2015

2.18%
10 Dec 15 (4.41%)
2.18%
-43.99%
(90.26%)
Jul 97 - Jan 99

Source - HSBC
40
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
24.74%
19.96%
Max
Drawdown1
Commodity
Ytd Avg. 2015
0.74%
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
$615M
Nov 15
1,459.22
$209M
Nov 15
567.26
$241M
Oct 15
175.85
31 Oct 15
Ytd Avg. 2015

0.74%
0.60%
6.17%
38.31%
25.02%
(14.92%)
Jul 13 - Sep 14
11 Dec 15
8.70%
(0.20%)
59.33%
15.77%
-7.6%
-30.07%
27.4%
16.23%
21.96%
(36.93%)
Dec 10 - Oct 11
30 Nov 15
2.36%
(3.75%)
4.06%
8.79%
4.98%
1.85%
16.09%
7.47%
7.08%
(10.02%)
May 15 - Sep 15
Commodity-Systematic
Ytd Avg. 2015
25.26%
Commodity-Systematic/Global
MILLBURN COMMODITY
PROGRAM
Millburn Ridgefield Corporation
28 Feb 05
$83M
Nov 15
223.97
15 Dec 15
Ytd Avg. 2015

25.26%
6.66%
25.26%
28.09%
-7.65%
-15.24%
-5.62%
8.5%
7.75%
12.62%
(30.96%)
Apr 11 - Nov 13
Currency
Ytd Avg. 2015
1.26%
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
$3'513M
Oct 15
165.05
$75M
Sep 15
184.44
Ytd Avg. 2015

(2.38%)
11 Dec 15 (2.49%) (10.74%)
18.75%
31 May 07
HARNESS MACRO CURRENCY

FUND
Harness Investment Group Ltd
31 Mar 09
0.96%
20.11%
15.23%
7.04%
11.43%
(13.69%)
Jul 08 - Sep 08
11 Dec 15
0.40%
5.98%
8.72%
1.06%
0.86%
6.36%
4.49%
6.40%
8.03%
(6.96%)
May 13 - Apr 14
Currency/Global
EURO MANAGED CURRENCY
PLUS FUND
JPMorgan Asset Management
5.19%
84M
Oct 15
108.19
$113M
Nov 15
150.65
11 Dec 15
Ytd Avg. 2015

3.69%
1.16%
6.14%
11.83%
-4.01%
21.37%
-11.13%
5.86%
1.03%
14.15%
(29.16%)
Jun 07 - Aug 11
01 Dec 15
0.07%
(2.62%)
8.28%
3.51%
17.65%
-4.62%
0.24%
6.33%
10.58%
(13.52%)
Apr 10 - Aug 10

Source - HSBC
41
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Currency/Global
THE CAMBRIDGE STRATEGY 31 Jan 08
EMERGING MARKETS CURRENCY
ALPHA
Andrew Saunders
$102M
Sep 15
191.30
11 Dec 15
MTD
YTD
2014
Ytd Avg. 2015

3.69%
0.23%
7.54%
16.61%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
-0.3%
7.42%
10.46%
3.24%
8.60%
8.32%
Max
Drawdown1
(10.76%)
May 13 - Sep 13
Diversified
Ytd Avg. 2015
1.95%
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
$489M
Nov 15
2,008.10
$2'641M
Oct 15
250.93
$3'762M
Oct 15
147.27
$211M
Oct 15
150.40
$75M
Nov 15
175.67
Ytd Avg. 2015

0.97%
11 Dec 15 (0.47%)
2.58%
5.69%
FINISTERRE GLOBAL
OPPORTUNITY FUND
Darren Walker
31 Mar 06
GAVEA FUND LTD . CLASS A S/1

Fraga Arminio and Gabriel Srour
31 Jul 03
GREEN FUND LLC - CLASS I

Luis Stuhlberger
31 Jan 01
PHARO GAIA FUND, LTD

Guillaume Fonkenell and Michael
Skarbinski
30 Nov 08
Q
M
Q
7.06%
3.11%
7.58%
8.18%
5.06%
(5.92%)
Jan 14 - Jun 14
30 Nov 15
1.14%
4.19%
3.55%
11.55%
4.41%
8.86%
1.83%
8.58%
3.70%
(1.94%)
Jan 10 - Mar 10
11 Dec 15 (1.17%)
1.67%
-1.21%
17.08%
21.23%
3.3%
8.42%
6.13%
(5.97%)
Dec 13 - Aug 14
31 Oct 15
1.90%
0.06%
9.95%
13.06%
20.91%
11.23%
4.57%
(3.27%)
May 15 - Sep 15
30 Nov 15
1.67%
(3.65%)
-3.1%
34.5%
7.26%
22.95%
-0.3%
7.77%
14.34%
(14.37%)
Jun 08 - Mar 09
Diversified/Emerging
ALPHA4X CAPITAL GROWTH FUND 30 Apr 06
Manuel E. Meja-Aoun, Urvish Bidkar,
Fabio Izzo
12.15%
$104M
Nov 15
181.56
$1'008M
Nov 15
225.55
$534M
Nov 15
247.57
$573M
May 15
735.15
$486M
Nov 15
2,286.47
30 Nov 15
Ytd Avg. 2015

0.49%
0.33%
10.25%
6.85%
-7.33%
2.54%
11.5%
-5.19%
6.42%
7.52%
(14.63%)
Jun 13 - Jun 14
30 Nov 15 (0.34%)
5.62%
11.35%
5.36%
7.75%
-5.97%
10.59%
8.77%
7.12%
(18.02%)
Jun 08 - Oct 08
11 Dec 15 (0.70%)
11.21%
-5.31%
2.71%
8.19%
-0.35%
6.48%
7.60%
6.98%
(12.50%)
Jul 08 - Oct 08
10 Dec 15 (0.08%)
4.82%
-3.49%
9.9%
13.55%
-5.7%
7.84%
13.47%
13.46%
(33.00%)
Jun 08 - Nov 08
30 Nov 15
0.04%
6.53%
17.5%
6.73%
1.1%
8.26%
5.73%
13.19%
12.93%
(14.76%)
May 13 - Jun 13

Source - HSBC
42
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
PHARO TRADING FUND, LTD
Guillaume Fonkenell
30 Nov 00
SPINNAKER GLOB OPP FUND, LTD 31 Jan 01

COMPOSITE
Jorge Rosas
THE CAMBRIDGE STRATEGY APOLLO (EM MACRO) ABSOLUTE

RETURN
Russell Thompson, Walid Khalfallah,
Ali Bora Yigitbasioglu
30 Apr 09
$404M
Nov 15
4,909.80
$920M
Aug 15
512.31
$97M
Sep 15
117.93
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
CANOSA GLOBAL MACRO FUND

LTD
Tim Attias, Santiago Alarco
30 Apr 13
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

Jeffrey Talpins
31 Mar 05
EPISODE INC. CLASS A

David Fishwick / Tony Finding
31 Jul 05
2014
Ytd Avg. 2015

0.49%
30 Nov 15 (1.72%)
(7.99%)
12.47%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
19.65%
0.69%
-2.68%
10.52%
11.18%
10.99%
Max
Drawdown1
(16.54%)
15 Dec 15 (0.90%)
(3.28%)
6.72%
0.97%
14.12%
-11.82%
15.03%
11.61%
9.06%
(31.74%)
11 Dec 15 (5.40%)
(23.27%)
7.91%
-2.05%
12.92%
14.14%
8.52%
2.52%
7.83%
(23.27%)
Dec 14 - Dec 15
128.94
$19'715M
Oct 15
314.77
$4'144M
Nov 15
2,909.07
$1'006M
Oct 15
105.26
$6'043M
Sep 15
921.45
$531M
Oct 15
221.57
$70M
Oct 15
269.54
$1'287M
May 15
YTD
May 08 - Feb 09
$990M
Dec 15
$5'970M
Sep 15
MTD
Aug 14 - Nov 15
Diversified/Global
ATREAUS OVERSEAS FUND LTD
Atreaus Capital LP
Date
Ytd Avg. 2015

2.40%
11 Dec 15 (0.61%)
12.60%
11.48%
4.99%
-2.16%
7.28%
7.73%
(3.79%)
Jun 13 - Sep 13
30 Nov 15
2.37%
1.93%
-0.79%
2.68%
3.93%
12.15%
1.01%
9.47%
6.69%
(8.47%)
Apr 13 - Jun 14
30 Nov 15
1.91%
8.75%
-4.66%
9.65%
28.12%
3.44%
22.38%
16.91%
7.58%
(12.56%)
Jun 14 - Jan 15
30 Nov 15
1.70%
3.46%
-6.96%
9.34%
2.00%
9.84%
(9.40%)
Feb 14 - Oct 14
14 Dec 15
0.19%
3.53%
-1.38%
18.16%
1.96%
0.7%
9.29%
12.48%
7.48%
(7.37%)
Jun 07 - Aug 07
11 Dec 15 (1.91%)
1.43%
6.19%
5.39%
15.64%
10.75%
7.01%
11.98%
9.06%
(10.38%)
Jan 09 - Feb 09
11 Dec 15 (1.40%)
4.02%
9.48%
-0.01%
-1.72%
12.11%
2.65%
7.80%
20.16%
(31.94%)
Feb 08 - Sep 08
81,510.54 31 Oct 15
5.56%
20.96%
2.91%
19.44%
2.73%
5.54%
27.6%
21.91%
9.96%
(7.83%)
Oct 07 - Apr 08
151.06
11 Dec 15 (1.84%)
2.03%
7.77%
6.14%
-4.69%
0.98%
4.83%
4.06%
10.68%
(32.77%)
Oct 07 - Feb 09

Source - HSBC
43
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Diversified/Global
FORTRESS MACRO FUND LTD.
CLASS A
Michael E. Novogratz
31 Dec 08
GAM GLOBAL RATES HEDGE

FUND
Adrian Owens
31 Jan 04
GAMUT INVESTMENTS
Adrian Owens
30 Jun 86
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
Richard Conyers
30 Apr 03
LONDON SELECT FUND LIMITED

David Gorton
31 Mar 04
MELLON OFF GLOB OPP FUND

LTD - MULTICURRENCY - A1
Alexander Huberts & 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
M
Q
M
M
Date
MTD
YTD
2014
Ytd Avg. 2015

2.40%
30 Sep 15 (4.67%) (17.49%)
-1.62%
$1'589M
Aug 15
1,062.68
$500M
Oct 15
231.52
$73M
May 15
8,289.72
$1'108M
Nov 15
448.73
$2'338M
Nov 15
238.42
$2'338M
Nov 15
272.29
$98M
Nov 15
136.98
$540M
Oct 15
1,790.19
$137M
Aug 15
1,232.40
$748M
Nov 15
101.02
$2'422M
Nov 15
303.82
$832M
May 15
2,723.44
$4'400M
Mar 15
58,595.56 03 Dec 15 (1.53%)
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
14.11%
17.82%
-9.33%
10.7%
3.45%
8.14%
Max
Drawdown1
(18.82%)
Dec 13 - Sep 15
08 Dec 15 (1.02%)
1.66%
4.72%
-0.11%
14.71%
-6.73%
9.47%
7.33%
7.13%
(12.25%)
Mar 11 - Sep 11
08 Dec 15 (1.03%)
0.52%
5.1%
-2.83%
0.29%
-0.95%
7.22%
16.18%
12.92%
(13.45%)
Dec 87 - Apr 88
15 Dec 15 (2.50%)
0.65%
10.41%
10.5%
9.29%
4.54%
24.53%
12.13%
9.83%
(13.31%)
May 07 - May 08
15 Dec 15 (2.59%)
(0.65%)
6.53%
7.57%
7.8%
6.66%
14.26%
10.38%
10.35%
(30.81%)
May 07 - Jun 08
15 Dec 15 (1.31%)
(0.51%)
3.18%
3.63%
3.83%
3.56%
7.12%
5.79%
5.18%
(14.81%)
May 07 - Jun 08
11 Dec 15 (0.33%)
(1.15%)
8.27%
-8.34%
23.45%
-8.95%
20.32%
5.42%
11.69%
(18.17%)
Aug 12 - Feb 14
18 Nov 15
1.86%
1.02%
2.53%
9.34%
5.37%
0.08%
13.17%
5.13%
9.29%
(34.17%)
Jan 08 - Dec 08
31 Oct 15
1.13%
7.97%
-1.12%
1.21%
-2.53%
4.79%
17.48%
2.13%
8.83%
(31.90%)
Jan 07 - Oct 08
11 Dec 15 (3.64%)
0.43%
-3.62%
4.36%
0.43%
7.67%
(10.19%)
Dec 13 - Aug 14
11 Dec 15 (2.35%)
0.37%
-2.17%
7.11%
6.89%
11.43%
-0.34%
8.04%
5.37%
(6.74%)
Dec 13 - Aug 14
11 Dec 15 (5.22%)
0.68%
13.66%
23.84%
-0.76%
-35.04%
7.83%
7.58%
17.68%
(36.99%)
Dec 10 - May 12
2.95%
1.74%
17.02%
8.82%
-2.21%
4.74%
16.99%
11.46%
(18.45%)
Jan 94 - Feb 95

Source - HSBC
44
Inception Liquidity
Date
Asset
Size
Diversified/Global
MOORE MACRO MANAGERS
FUND, LTD CLASS -ALouis Bacon
31 Jul 93
OMNI MACRO FUND I LIMITED

Stephen Rosen
30 Apr 07
ONEWALL GLOBAL FUND

Jeff Brummette
31 Aug 11

Nicolas Galperin, Esteban Klein
31 Dec 07
PHARO MACRO FUND, LTD

Pharo Team
30 Apr 05
M
M
M
Q
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
TREND MACRO OFFSHORE LTD

Ashwin Vasan
31 Jul 11
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
M
M
Q
$7'200M
Mar 15
Last NAV
or Index
Date
MTD
YTD
Ytd Avg. 2015

2.40%
14,767.28 03 Dec 15 (1.30%)
1.87%
5.54%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
13.49%
9.01%
-2.57%
11.56%
12.80%
8.13%
Max
Drawdown1
(14.47%)
Jan 94 - Feb 94
$358M
Oct 15
278.69
$114M
Aug 15
131.28
$110M
Nov 15
147.06
$4'116M
Nov 15
3,201.24
$1'862M
Nov 15
2,565.67
$168M
Oct 15
194.63
$77M
Nov 15
127.32
$462M
Oct 15
113.25
$861M
Dec 15
563.38
$571M
Nov 15
133.84
$210M
Nov 15
7,435.22
11 Dec 15
1.23%
7.40%
5.71%
-4.87%
0.74%
10.45%
12.03%
12.62%
12.36%
(14.14%)
Aug 10 - Apr 11
11 Dec 15 (1.72%)
(9.11%)
0.01%
35.98%
12.01%
-5.17%
6.56%
10.15%
(14.27%)
Mar 15 - Dec 15
30 Nov 15
0.07%
7.25%
-7.94%
7.16%
-6.72%
3.17%
13.3%
4.95%
13.48%
(25.48%)
Sep 08 - Oct 08
30 Nov 15
0.51%
3.76%
8.23%
18.51%
12.53%
-7.82%
7.3%
11.61%
8.53%
(9.64%)
Jun 08 - Nov 08
30 Nov 15 (0.15%)
4.60%
5.86%
-0.44%
12.01%
1.82%
11.39%
7.13%
8.09%
(25.88%)
May 08 - Nov 08
30 Nov 15
1.09%
15.15%
8.37%
4.65%
6.19%
-10.43%
23.74%
8.97%
11.48%
(17.36%)
Jun 08 - Nov 08
11 Dec 15 (3.05%)
(10.82%)
5.19%
9.3%
5.55%
17.65%
5.18%
10.37%
(13.20%)
Feb 15 - Dec 15
30 Nov 15
0.58%
(4.34%)
17.22%
1%
5.91%
6.22%
(6.61%)
Jan 15 - Oct 15
11 Dec 15 (1.74%)
6.22%
1.72%
18.27%
-3.89%
5.34%
14.97%
11.32%
15.00%
(36.03%)
Dec 04 - May 07
11 Dec 15 (1.19%)
4.94%
-0.67%
14.81%
16.56%
-4.04%
6.90%
5.63%
(6.45%)
Aug 11 - Jun 12
30 Nov 15
4.81%
6.22%
-8.57%
7.65%
4.27%
-14.09%
13.52%
7.87%
13.94%
(27.05%)
Jan 94 - Jan 95
$8'250M 133,211.91 04 Dec 15 (1.59%)

Sep 15
0.68%
$8'250M 129,616.19 04 Dec 15 (1.60%)

Sep 15
(0.19%)
$1'764M
Sep 15
2014
1,166.31
04 Dec 15 (1.85%)
3.47%
14.29%
6.27%
6.17%
6.91%
(4.42%)
Dec 13 - May 14
2.65%
13.99%
5.41%
2.17%
7.41%
18.19%
18.24%
(17.07%)
Apr 92 - Jul 92
0.05%
0.15%
13.2%
2.82%
4.59%
6.96%
(9.27%)
Jun 13 - Jun 14

Source - HSBC
45
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

2.49%
16 Dec 15 (1.32%)
(1.68%)
-2.7%
2.39%
1.85%
8.88%
0.47%
3.26%
6.03%
Max
Drawdown1
Fixed Income
Ytd Avg. 2015
2.49%
Fixed Income/Global
HALKIN ACCURATE FX INCOME
INDEX
Joao Poppe, Narciso Vega
31 Dec 07

Christopher Brandt
30 Sep 11
41M
Oct 15
95.79
$197M
Nov 15
11.77
(6.52%)
Jun 13 - Dec 15
11 Dec 15 (1.22%)
6.66%
6.89%
-6.81%
5.77%
4.71%
3.95%
9.19%
(19.31%)
May 13 - Jul 14
Systematic
Ytd Avg. 2015
0.69%
Systematic/Global
Eagle Trading Systems Inc.
31 Dec 08

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
M
M
$44M
Dec 15
107.14
$325M
Nov 15
171.29
$84M
Apr 15
159.96
$53M
Jul 15
443.27
Ytd Avg. 2015

0.69%
11 Dec 15 (5.84%) (14.45%)
15.5%
-9.64%
5.22%
-2.12%
8.65%
1.00%
17.96%
(27.47%)
May 12 - Apr 14
11 Dec 15 (3.94%)
(10.26%)
11.34%
-10.32%
8.57%
4.2%
4.82%
6.02%
13.56%
(22.33%)
May 12 - Apr 14
30 Nov 15 (0.31%)
(4.79%)
11.69%
5.5%
9.42%
6.81%
8.81%
6.31%
6.20%
(9.63%)
Jun 09 - Aug 09
30 Nov 15
0.87%
32.27%
12.47%
-9.29%
38.83%
52.2%
50.79%
28.15%
23.67%
(17.34%)
Jan 11 - Mar 11

Source - HSBC
46
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
-11.24%
1.13%
-20.46%
40.42%
12.85%
23.96%
Max
Drawdown1
Currency
Ytd Avg. 2015
5.18%
Currency/Global
MAN AHL CURRENCY FUND DN
31 Jul 93
USD
Matthew Sargaison and Emidio Sciulli

Dr Joe Zhou
30 Sep 03
$43M
Nov 15
149.69
$97M
Aug 15
206.53
Ytd Avg. 2015

5.18%
11 Dec 15 (5.10%)
11.76%
58.05%
(31.58%)
Apr 11 - Jun 12
15 Dec 15 (0.21%)
(1.40%)
7.42%
-17.32%
-17.33%
5.7%
27.89%
6.12%
11.55%
(33.53%)
Jan 12 - Sep 14
Systematic
Ytd Avg. 2015
2.03%
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
ASPECT DIVERSIFIED FUND CLASS A

Anthony Todd
30 Nov 98
BLUETREND FUND, LTD -USDCLASS A

Systematica Investments Limited
31 Mar 04
M
M
W
W
BORONIA DIVERSIFIED FUND

31 Aug 93
MASTER
Richard Grinham and Angus Grinham
BREVAN HOWARD SYSTEMATIC

TRADING FUND LTD
BH-DG Systematic Trading LLP
30 Apr 06
CAMPBELL GLOBAL ASSETS FUND 31 Jan 98

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

LTD Class B
Campbell & Company
$3'000M
Sep 15
1.48
$4'000M
Sep 15
1.30
$4'400M
Sep 15
1.46
$860M
Oct 15
437.71
$4'700M
Oct 15
322.74
$63M
Oct 15
2,077.61
$396M
Oct 15
187.94
$101M
Jul 15
4,651.05
$101M
Jul 15
3,841.10
Ytd Avg. 2015

2.03%
11 Dec 15 (1.31%)
3.49%
20.31%
16.91%
23.53%
10.53%
19.83%
14.79%
12.38%
(13.16%)
Jun 08 - Oct 08
11 Dec 15 (1.14%)
2.18%
22.83%
-1.51%
-0.06%
-2.76%
15.11%
12.52%
12.30%
(12.29%)
Oct 01 - Feb 02
11 Dec 15 (1.97%)
(1.41%)
33.79%
-3.05%
-2.23%
-5.91%
16.02%
13.22%
16.59%
(19.53%)
Oct 01 - Apr 02
15 Dec 15 (0.38%)
9.12%
32.04%
-4.44%
-10.66%
4.51%
15.36%
9.04%
16.06%
(22.19%)
Feb 12 - Mar 14
11 Dec 15 (2.03%)
5.13%
12.68%
-11.5%
0.02%
0.32%
15.98%
10.53%
14.07%
(22.05%)
Apr 11 - Jan 14
16 Dec 15 (2.29%)
(1.43%)
14.33%
13.23%
-3.99%
-8.75%
9.44%
9.17%
11.55%
(14.56%)
Feb 08 - Apr 12
30 Nov 15
4.85%
1.34%
10.81%
2.09%
-3.33%
1.83%
13.71%
6.80%
11.03%
(15.21%)
Apr 11 - Apr 14
15 Dec 15 (1.20%)
(0.61%)
19.84%
12.57%
4.52%
-2.92%
14%
8.98%
13.25%
(21.17%)
Jun 07 - Jan 10
15 Dec 15
0.48%
3.15%
14.38%
11.34%
1.84%
1.83%
20.3%
7.03%
11.50%
(22.92%)
Jun 07 - Aug 07

Source - HSBC
47
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Systematic/Global
CANTAB CAPITAL PARTNERS
QUANTITATIVE FUND (THE) - USD
ARISTARCHUS
Ewan Kirk, Erich Schlaikjer, Cantab
Capital
28 Feb 07
CARLYLE TREND FOLLOWING

FUND
DGAM Team
30 Apr 14
CONQUEST MACRO FUND, LTD

(COMP)
Marc Malek
30 Apr 99
CRABEL FUND SPC LTD CLASS A

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 DIVERSIFIED

Yves Balcer, Sajiv Kumar
30 Sep 93
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
D
M
$2'600M
Oct 15
1,886.06
$118M
Nov 15
128.17
$206M
Sep 15
2,133.60
$532M
May 15
5,733.89
$2'066M
Nov 15
132.06
$136M
Oct 15
100.83
$321M
Nov 15
1,232.80
$271M
Nov 15
176.86
$76M
Oct 15
138.68
$44M
Dec 15
Date
MTD
YTD
2014
Ytd Avg. 2015

2.03%
11 Dec 15 (2.50%)
(7.51%)
39.32%
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
-27.65%
15.32%
12.84%
2.48%
7.67%
17.92%
Max
Drawdown1
(34.86%)
Apr 13 - Apr 14
30 Nov 15
4.90%
(5.44%)
35.55%
16.94%
17.06%
(15.55%)
Mar 15 - Oct 15
15 Dec 15 (8.03%)
4.38%
4.21%
-6.62%
-33.44%
-6.08%
4.92%
4.66%
19.75%
(56.11%)
Jul 09 - Mar 13
30 Nov 15
2.80%
(1.93%)
8.67%
2.2%
15.53%
-1.93%
8.33%
10.33%
15.64%
(16.71%)
Oct 98 - Jun 99
09 Dec 15 (2.11%)
(0.26%)
14.41%
6.63%
-3.96%
4.85%
7.76%
5.24%
8.18%
(7.87%)
Apr 13 - Aug 13
14 Dec 15
0.29%
(0.82%)
21.93%
6.14%
4.09%
7.77%
10.27%
(9.14%)
Mar 15 - Aug 15
04 Dec 15 (1.66%)
6.01%
15.4%
-10.32%
-13.88%
21.95%
-6.67%
10.83%
15.63%
(34.56%)
Jun 94 - Oct 95
30 Nov 15
6.20%
14.51%
35.08%
33.42%
-18.27%
4.85%
12.29%
25.94%
(27.38%)
Aug 11 - Oct 12
15 Dec 15 (1.22%)
9.86%
24.18%
33.48%
-20.2%
-4.56%
7.91%
19.74%
(27.86%)
Aug 11 - Oct 12
763,630.69 11 Dec 15 (9.13%)
(12.53%)
-1.04%
-15.88%
8.1%
8.82%
17.68%
10.58%
22.85%
(37.45%)
Apr 13 - Jul 14
$349M
Nov 15
2,507.62
$947M
Nov 15
384.56
$2'916M
Nov 15
437.88
$2'916M
Nov 15
289.24
11 Dec 15 (2.47%)
(2.91%)
19.02%
-4.67%
7.12%
39.95%
34.46%
15.61%
18.75%
(26.55%)
May 99 - Sep 00
15 Dec 15 (1.76%)
0.35%
15.91%
13.72%
-0.07%
-9.85%
10.56%
8.52%
11.98%
(17.90%)
Apr 11 - Nov 12
15 Dec 15 (0.20%)
0.76%
17.71%
10.04%
-4.91%
-13.12%
0.77%
7.33%
12.13%
(20.70%)
Apr 11 - Nov 12
15 Dec 15 (0.28%)
1.61%
27.43%
15.25%
-7.15%
-18.64%
4.52%
10.90%
18.93%
(29.84%)
Feb 04 - Apr 05

Source - HSBC
48
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Systematic/Global
FUND TACTICAL TREND S/A
Graham Capital Management, L.P.
30 Sep 06

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
MLIS - GRAHAM CAPITAL

30 Nov 10
SYSTEMATIC MACRO UCITS FUND
Graham Capital Management L.P.
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
SMN DIVERSIFIED FUTURES FUND 31 Oct 96

SMN Investment Services GmbH
SOLAISE SYSTEMATIC FUND LTD ( 31 May 11

S Class)
Ali Nejjar
$4'615M
Nov 15
247.44
$480M
Nov 15
161.49
$961M
Nov 15
672.34
$262M
Oct 15
116.87
$2'447M
Oct 15
5,642.32
$471M
May 15
193.54
$788M
Nov 15
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

2.03%
15 Dec 15 (0.15%)
5.82%
22.4%
8.44%
4.21%
-0.1%
4.34%
10.33%
10.40%
Max
Drawdown1
(8.00%)
Nov 09 - Jan 10
11 Dec 15 (0.04%)
18.76%
32.59%
2.55%
23.40%
14.57%
(7.10%)
Mar 15 - Jun 15
11 Dec 15
3.18%
17.01%
61.95%
-10.66%
-17.47%
-2.74%
17.7%
14.00%
18.65%
(34.79%)
Feb 11 - Sep 13
11 Dec 15 (1.71%)
3.96%
15.91%
-3.01%
7.19%
-4.95%
7.28%
8.20%
12.05%
(12.45%)
Apr 06 - Sep 06
16 Dec 15 (1.76%)
(6.67%)
27.03%
11.1%
-6.71%
-2.25%
19.17%
11.70%
14.38%
(16.46%)
Mar 15 - Aug 15
16 Dec 15 (2.64%)
(10.73%)
42.18%
16.7%
-10.82%
-4.08%
28.83%
9.04%
22.66%
(24.30%)
Mar 15 - Aug 15
22,776.82 15 Dec 15
0.21%
5.96%
17.65%
-6.02%
-5.5%
-6.39%
12.44%
14.98%
17.97%
(25.65%)
May 89 - Oct 89
$82M
Oct 15
104.19
$1'510M
Mar 15
177.57
$699M
Nov 15
292.03
$69M
Sep 15
327.91
$410M
Oct 15
111.79
15 Dec 15 (0.53%)
1.89%
25.41%
11.59%
-10.09%
-20.38%
2.07%
0.82%
13.52%
(31.34%)
Feb 11 - Nov 12
30 Nov 15 (0.17%)
3.60%
17.14%
22.88%
11.04%
1.5%
5.66%
10.99%
11.94%
(11.27%)
Dec 13 - Jul 14
14 Dec 15
2.80%
6.18%
14.86%
9.31%
-22.39%
-16.7%
-6.54%
5.42%
18.74%
(52.73%)
Nov 08 - Oct 12
11 Dec 15 (1.48%)
1.86%
57.24%
-5.95%
-20.11%
-7.77%
16%
8.20%
19.22%
(37.70%)
Dec 08 - Sep 13
11 Dec 15 (3.98%)
3.06%
12.26%
1.84%
-0.15%
-4.97%
2.49%
12.12%
(13.61%)
Aug 11 - Aug 13

Source - HSBC
49
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
Systematic/Global
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, LLC
31 Jul 09
WELTON GLOBAL DIRECTIONAL

PORTFOLIO
Welton Investment Partners
31 May 04
WINTON EVOLUTION FUND (THE)

David Harding
31 Aug 05
WINTON FUTURES FUND - CLASS

B - LEAD SERIES NON-VOT.
David Harding
30 Sep 97
M
M
M
M
$2'260M
Jul 15
18,611.77 11 Dec 15
MTD
YTD
Ytd Avg. 2015

2.03%
0.40%
4.12%
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
7%
7.57%
3.53%
4.55%
10.47%
12.43%
4.86%
Max
Drawdown1
(7.75%)
Jun 07 - Aug 07
$118M
Oct 15
2,765.53
$277M
Jun 15
4,809.58
$919M
Oct 15
2,545.90
$152M
Nov 15
221.84
$329M
Oct 15
1,771.46
$12'900M
Nov 15
1,028.58
11 Dec 15
0.15%
(4.80%)
22.7%
7.76%
-6.33%
-21.27%
16.01%
16.32%
21.96%
(36.53%)
May 03 - Jan 05
11 Dec 15 (8.67%)
(4.01%)
36.15%
-0.01%
4.89%
-20.93%
38.39%
13.16%
27.05%
(34.25%)
Feb 09 - Jan 10
30 Nov 15
5.71%
12.97%
25.56%
14.07%
4.23%
2.33%
26.02%
15.88%
8.87%
(9.85%)
Apr 11 - Sep 11
14 Dec 15 (1.62%)
(1.70%)
34.01%
-5.73%
-8.12%
-14.44%
18.73%
7.15%
13.99%
(33.18%)
Feb 11 - Sep 13
16 Dec 15 (2.97%)
0.26%
17.26%
14.56%
-8.31%
3.83%
15.12%
5.71%
11.05%
(14.61%)
Jun 08 - Jul 09
16 Dec 15 (2.26%)
0.60%
13.87%
9.4%
-3.56%
6.29%
14.48%
13.65%
16.46%
(25.08%)
Oct 01 - Feb 02

Source - HSBC
50
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

23.62%
04 Dec 15 (1.71%)
23.62%
11.2%
7.34%
1.85%
11.56%
21.8%
17.47%
11.45%
Max
Drawdown1
Discretionary
Ytd Avg. 2015
6.85%
Discretionary/Asia
AMAZON MARKET NEUTRAL FUND 31 Aug 05
CLASS A USD
Philip King
$297M
Oct 15
522.39
Discretionary/Europe
OYSTER MARKET NEUTRAL EUR
Syz Asset Management S.A.
31 Jul 09
261M
Mar 15
182.06
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
$959M
May 15
323.92
30 Apr 02
EQUILIBRIA JAPAN FUND LTD 2X

(USD)
James Pulsford, Sara Gardiner-Hill
30 Apr 09
$1'071M
Dec 15
185.28
$2'763M
Oct 15
138.41
Ytd Avg. 2015

7.05%
11 Dec 15 (1.38%)
(4.34%)
1.57%
15 Dec 15
31 Mar 08
SCHRODER CAZENOVE UK
ABSOLUTE TARGET FUND - P2
GBP
Steven Cordell
30 Jun 08
6.4%
-6.15%
3.89%
3.08%
4.14%
(7.38%)
8.26%
9.2%
-4.11%
1.01%
7.44%
5.47%
(8.65%)
0.52%
17.88%
13.34%
18.78%
15.02%
3.18%
-0.21%
7.88%
6.44%
(15.98%)
Jun 08 - Nov 08
15 Dec 15
0.22%
7.60%
6.39%
7.58%
6.07%
3.46%
0.3%
4.17%
4.36%
(11.63%)
Jun 08 - Oct 08
$188M
Nov 15
253.78
$381M
Nov 15
168.95
Ytd Avg. 2015

3.39%
11 Dec 15 (0.38%)
2.47%
4.6%
9.16%
-3.55%
-0.13%
5.58%
7.07%
4.47%
(7.20%)
Jul 11 - Dec 12
11 Dec 15 (0.82%)
4.31%
9.46%
19.7%
-6.6%
-0.5%
10.87%
8.24%
8.22%
(13.42%)
Jul 11 - Dec 12
Discretionary/UK
ABSOLUTE INSIGHT UK EQUITY
MKT NEUTRAL FUND-CLASS B2P
GBP
Andrew Cawker, Iain Brown, Richard
Howarth
10.72%
Mar 11 - Sep 11
Discretionary/Japan
EQUILIBRIA JAPAN FUND LTD 1X
USD
James Pulsford, Sara Gardiner-Hill
15 Dec 15
Ytd Avg. 2015

4.82%
1.07%
4.82%
-0.18%
Feb 14 - Aug 14
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
125.10
17 Dec 15
Ytd Avg. 2015

2.64%
0.40%
1.29%
0.6%
2.8%
3.49%
2.3%
1.9%
2.68%
1.39%
(1.82%)
Feb 14 - May 14
16 Dec 15 (0.08%)
3.99%
-3.98%
10.09%
4.08%
11.24%
-7.62%
3.04%
4.98%
(9.96%)
Sep 09 - Dec 10

Source - HSBC
51
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

(5.19%)
11 Dec 15 (0.23%)
(1.60%)
3.78%
7.13%
2.92%
9.6%
4.96%
4.94%
5.12%
Max
Drawdown1
Equity Diversified
Ytd Avg. 2015
4.87%
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
$851M
Oct 15
129.53
$1'850M
Oct 15
1,858.88
11 Dec 15 (0.50%)
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
612M
Sep 15
134.21
357M
Oct 15
306.24
$895M
Nov 15
114.91
$788M
Nov 15
133.19
16 Dec 15
31 Oct 11
$1'029M
Sep 15
10.4%
9.04%
4.41%
9.11%
10.29%
7.98%
6.32%
(14.05%)
Ytd Avg. 2015

7.50%
0.53%
4.92%
4.9%
16.13%
-0.35%
-4.05%
6.52%
5.19%
5.43%
(13.12%)
Mar 11 - May 12
11 Dec 15
0.33%
16.32%
3.54%
15.83%
16.66%
2.91%
18.43%
10.67%
8.70%
(25.03%)
Jun 08 - Apr 09
15 Dec 15 (0.14%)
5.67%
-6.26%
7.23%
6.19%
1.87%
3.16%
4.92%
(10.37%)
Feb 14 - Oct 14
30 Nov 15 (0.27%)
3.10%
9.62%
12.78%
5.11%
9.17%
4.28%
(1.88%)
Jul 13 - Aug 13
Equity Diversified/Global
TWO SIGMA ABSOLUTE RETURN
FUND LTD
Two Sigma Advisers, LLC
(8.78%)
Oct 07 - Apr 09
Equity Diversified/Europe
BLACKROCK EUROPEAN
DIVERSIFIED EQUITY A.R.F SHARE CLASS D
Robert Fisher/Simon Weinberger
(4.87%)
Nov 13 - May 14
1,476.70
30 Nov 15
Ytd Avg. 2015

14.49%
1.81%
14.49%
10.09%
11.25%
4.03%
1.23%
10.01%
5.18%
(3.30%)
Jun 13 - Aug 13
Multi-Strategy
Ytd Avg. 2015
(0.38%)
Multi-Strategy/Asia
LIM ASIA MULTI-STRATEGY FUND
CLASS A
George W. Long
31 Dec 95
$986M
Nov 15
39.37
Ytd Avg. 2015

1.26%
11 Dec 15 (0.20%)
1.26%
4.12%
5.63%
3.57%
-0.23%
8.6%
7.11%
5.62%
(15.79%)
Feb 08 - Nov 08

Source - HSBC
52
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
HUDSON BAY INTERNATIONAL
31 May 06
FUND LTD
Hudson Bay Capital Management LP
$2'458M
Oct 15
226.87
11 Dec 15
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

(2.03%)
0.07%
(2.03%)
-2.08%
7.9%
11.37%
4.31%
8.44%
8.97%
5.01%
Max
Drawdown1
(6.10%)
Feb 14 - Nov 15
Statistical Arbitrage
Ytd Avg. 2015
7.36%
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
$871M
Nov 15
245.58
$847M
Nov 15
295.00
09 Dec 15
Ytd Avg. 2015

7.36%
0.09%
3.17%
9.83%
4.91%
5.67%
7.88%
6.75%
10.77%
7.26%
(10.48%)
Jul 07 - Aug 07
11 Dec 15
0.67%
11.54%
12.14%
13.28%
3.64%
15.2%
12.08%
10.55%
4.29%
(11.91%)
Jun 08 - Sep 08
Systematic
Ytd Avg. 2015
6.64%
Systematic/Europe
BLACKROCK EOS CLASS B USD
COMPOSITE
Robert Fisher, Simon Weinberger
28 Feb 02
$462M
Nov 15
1,630.38
15 Dec 15
31 Jul 02
BLUEMATRIX FUND CLASS -AUSD

Systematica Investments Limited
31 Oct 07
M/Q
20.08%
3.49%
-3.11%
13.64%
9.43%
8.24%
(14.33%)
Jul 07 - Jan 08
Systematic/Global
BLACKROCK 32 CAPITAL MASTER
FUND SPC, LTD (THE) - B/1
Raffaele Savi and Ken Kroner
Ytd Avg. 2015

5.70%
0.88%
5.70%
6.55%
$1'145M
Oct 15
2,272.12
$487M
Jun 15
174.34
11 Dec 15
Ytd Avg. 2015

7.12%
1.75%
7.58%
-0.67%
8.02%
9.41%
24.92%
20.38%
6.33%
7.29%
(25.15%)
Jun 08 - Sep 09
11 Dec 15 (0.25%)
6.65%
10.4%
12.57%
-2.49%
-1.42%
6.45%
7.09%
6.90%
(9.96%)
Apr 11 - Sep 11

Source - HSBC
53
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
Ytd Avg. 2015

14.05%
7.51%
19.05%
2.63%
12.2%
12.04%
14.32%
2010
Ann.
Return
Ann.
Volatility
13.30%
10.67%
Max
Drawdown1
Merger-Arbitrage
Ytd Avg. 2015
11.10%
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
$56M
Nov 15
175.59
$350M
Oct 15
1,206.18
$33M
Aug 15
38.73
31 Aug 89
$138M
Apr 15
(11.84%)
May 12 - Oct 12
11 Dec 15
0.32%
10.84%
5.91%
5.56%
5.34%
8.94%
15.55%
15.82%
5.99%
(5.77%)
Oct 07 - Dec 07
30 Nov 15
0.81%
12.25%
-8.29%
-5.17%
2.36%
4.6%
5.9%
6.98%
9.29%
(34.07%)
Oct 07 - Feb 09
Merger-Arbitrage/USA
GABELLI ASSOCIATES LIMITED
Mario Gabelli
31 Oct 15
627.16
Ytd Avg. 2015

2.25%
11 Dec 15 (0.14%)
2.25%
2.09%
3.12%
2.55%
3.03%
6.22%
7.23%
3.22%
(6.65%)
Oct 07 - Oct 08

Source - HSBC
54
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
20.57%
6.72%
2011
2010
Ann.
Return
Ann.
Volatility
9.60%
3.59%
Max
Drawdown1
Credit
Ytd Avg. 2015
(0.87%)
Credit/Europe
CHENAVARI MULTI STRATEGY
CREDIT FUND - MS2
31 Jan 12
NUMEN CREDIT OPPORTUNITIES

FUND
Filippo Lanza
31 Oct 08
$474M
Jun 15
141.04
260M
Oct 15
449.08
31 May 04
$1'576M
Oct 15
(1.53%)
May 15 - Sep 15
30 Nov 15
0.08%
4.09%
1.59%
12.47%
25.15%
-9.8%
10.72%
23.62%
16.84%
(16.68%)
Oct 10 - Jan 12
Credit/Global
CANYON BALANCED FUND LTD
M.R. Julis & J.S. Friedman
31 Oct 15
Ytd Avg. 2015

2.84%
0.01%
1.59%
7.89%
3,282.51
Ytd Avg. 2015

(8.30%)
30 Nov 15 (2.80%)
(8.30%)
6.16%
19.99%
20.52%
-4.57%
14.29%
10.88%
9.98%
(30.14%)
Oct 07 - Nov 08
Diversified
Ytd Avg. 2015
5.25%
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
Oct 15
1,434.86
$1'336M
Oct 15
372.15
30 Jun 99
$970M
Aug 15
30 Jun 06
ALLBLUE LIMITED
Michael Platt
31 Aug 05
ARROWGRASS MASTER FUND

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

Dmitry Balyasny
28 Feb 11
M
M
Q
M
11.48%
4.79%
5.79%
28.59%
25.61%
(30.13%)
11 Dec 15 (3.39%)
27.60%
34.88%
-1.68%
4.81%
40.75%
1.72%
17.77%
10.01%
(10.16%)
May 13 - Mar 14
2,069.33
Ytd Avg. 2015

6.95%
15 Dec 15 (3.76%)
6.95%
-3.35%
3.37%
20.69%
-9.31%
12.56%
20.20%
11.64%
(33.11%)
May 08 - Feb 09
Diversified/Global
AHL DIMENSION
Tim Wong, Nick Granger
12.82%
Apr 06 - Mar 07
SPINNAKER GLOBAL EMERGING
MARKETS FUND, LTD
Bradley Wickens
31 Oct 15
Ytd Avg. 2015

20.42%
2.45%
13.25%
-12.87%
$4'200M
Sep 15
1.05
$6'300M
Oct 15
214.98
4'507M
Oct 15
174.43
$5'300M
Oct 15
153.07
Ytd Avg. 2015

4.49%
11 Dec 15 (1.02%)
7.54%
16.33%
2.64%
2.6%
-5.83%
16.72%
6.35%
9.06%
(10.63%)
Dec 08 - Jan 10
30 Nov 15
0.64%
3.50%
6.27%
1.53%
5.96%
1.87%
8.06%
7.75%
4.40%
(4.51%)
Jun 07 - Aug 07
11 Dec 15
0.03%
5.19%
2.89%
8.58%
5.6%
0.12%
4.22%
7.33%
4.09%
(3.99%)
Apr 11 - Sep 11
11 Dec 15 (0.54%)
4.42%
13.73%
20.85%
12.61%
-5.28%
9.30%
8.00%
(13.44%)
Jul 11 - Apr 12

Source - HSBC
55
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
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 Jan 07
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
GLOBAL FOCUSSED STRATEGIES 31 Dec 13

FUND
Standard Life Investments
$4'700M
Sep 15
3,980.59
$79M
May 15
337.42
$1'344M
Oct 15
1,565.69
$432M
Oct 15
138.80
611M
Jul 15
20.48
$2'807M
Nov 15
131.32
$1'448M
Oct 15
1,479.83
$3'081M
Oct 15
4,673.31
$1'402M
Oct 15
1,687.54
$3'134M
Apr 15
428.69
$645M
Nov 15
865.85
543M
Oct 15
10.81
Date
MTD
YTD
Ytd Avg. 2015

4.49%
11 Dec 15 (0.36%)
1.55%
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
7.2%
12.94%
4.84%
4.76%
13.37%
12.25%
8.06%
Max
Drawdown1
(12.51%)
Jun 04 - Aug 04
11 Dec 15 (1.38%)
(0.72%)
4.91%
6.18%
10.23%
-2.13%
5.6%
6.28%
3.98%
(18.64%)
Aug 08 - Dec 08
31 Oct 15
0.14%
0.19%
2.07%
7.04%
7.86%
2.43%
10.2%
4.36%
5.18%
(13.96%)
Jun 08 - Dec 08
14 Dec 15
0.69%
11.18%
-5.21%
7.19%
3.74%
22.94%
1.18%
4.83%
8.88%
(13.18%)
Feb 14 - Jun 15
10 Dec 15
0.38%
14.63%
7.02%
13.46%
9.45%
-2.59%
11.49%
7.44%
6.78%
(20.69%)
May 07 - Sep 08
30 Nov 15
2.77%
0.75%
1.13%
0.91%
4.61%
5.2%
2.12%
3.58%
4.52%
(6.29%)
Feb 08 - Sep 08
30 Nov 15
2.20%
2.17%
1.86%
15.02%
3.57%
1.02%
5.05%
6.13%
7.51%
(8.15%)
Mar 15 - Oct 15
30 Nov 15 (3.47%)
(2.58%)
3.12%
15.97%
35.87%
-10.42%
31.45%
16.08%
13.13%
(24.58%)
Apr 11 - Sep 11
30 Nov 15 (1.13%)
(0.71%)
1.18%
5.99%
11.4%
-3.45%
14.62%
6.15%
6.23%
(14.78%)
Jun 08 - Dec 08
11 Dec 15 (0.35%)
0.55%
4.45%
7.74%
10.94%
-2.67%
9.3%
8.57%
5.26%
(19.30%)
Aug 08 - Dec 08
11 Dec 15 (0.12%)
0.21%
-7.43%
10.3%
18.4%
0.78%
33.6%
12.77%
14.17%
(54.03%)
Nov 07 - Dec 08
20 Nov 15
0.79%
7.66%
-1.12%
3.37%
5.31%
(4.02%)
Feb 14 - Sep 14

Source - HSBC
56
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Diversified/Global
HALCYON PARTNERS OFFSHORE 31 May 04
FUND LTD
John M. Bader
HIGHBRIDGE CAPITAL
31 Aug 92
CORPORATION CLASS -A-Series N
(Composite)
Mark Vanacore
Q/Y
HUTCHIN HILL DIVERSIFIED

ALPHA MASTER FUND LTD 15%
Incentive Allocation
Neil Chriss
30 Jun 08
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
Q/Y
$260M
Oct 15
$963M
Jul 15
168.34
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

4.49%
11 Dec 15 (1.31%)
(5.68%)
-2.88%
7.4%
11.24%
-5.91%
8.81%
4.62%
5.62%
Max
Drawdown1
(15.01%)
Oct 07 - Dec 08
97,842.34 30 Nov 15
0.63%
3.98%
6.16%
6.5%
9.79%
-5.11%
3.98%
10.30%
6.85%
(30.04%)
Jun 08 - Nov 08
$4'180M
Nov 15
1,873.56
$480M
Nov 15
223.09
$453M
Nov 15
164.03
$1'126M
Dec 15
359.56
$614M
Oct 15
251.73
$245M
Nov 15
107.42
$109M
Nov 15
110.16
$32'080M
Oct 15
3,225.82
$1'826M
Oct 15
301.60
$4'370M
Dec 15
3,636.03
$775M
Oct 15
7,577.37
11 Dec 15 (0.55%)
(4.09%)
9.69%
19.38%
11.06%
-4.92%
6.91%
8.79%
5.99%
(7.63%)
Apr 11 - Feb 12
08 Dec 15 (5.85%)
(4.11%)
2.01%
47.8%
15.5%
-27.33%
3.57%
9.76%
15.50%
(35.04%)
Apr 10 - Jun 12
30 Nov 15
1.79%
4.33%
-3.04%
43.03%
11.8%
-25.65%
6.5%
5.76%
17.37%
(40.20%)
Feb 08 - Jan 09
30 Nov 15
0.03%
4.04%
12.43%
16%
4.11%
-7.86%
24.01%
10.77%
9.09%
(24.60%)
Feb 08 - Dec 08
11 Dec 15
0.30%
14.48%
2.22%
10.04%
8.09%
38.69%
30.39%
17.05%
9.35%
(9.53%)
Apr 10 - May 10
11 Dec 15 (1.42%)
1.95%
-0.97%
4.73%
1%
1.87%
3.37%
(4.70%)
Feb 14 - Jul 14
11 Dec 15 (0.12%)
5.81%
-0.92%
5.08%
4.98%
-3.59%
13.38%
4.58%
6.99%
(30.54%)
Oct 07 - Dec 08
30 Nov 15
1.14%
10.90%
12.09%
13.27%
6.32%
8.39%
13.22%
14.32%
4.34%
(7.24%)
May 98 - Aug 98
30 Nov 15
0.50%
9.50%
5.06%
16.02%
8.43%
-2.83%
15.48%
8.92%
4.83%
(6.83%)
Jul 11 - Dec 11
30 Nov 15
1.00%
(2.21%)
4.57%
9.58%
21.75%
5.7%
13.87%
10.03%
10.00%
(29.16%)
Jun 08 - Dec 08
31 Oct 15 (1.38%)
6.78%
10.76%
7.12%
11.58%
21.03%
19.27%
17.08%
5.46%
(4.44%)
Aug 08 - Oct 08

Source - HSBC
57
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Diversified/Global
QVT OFFSHORE LTD CLASS 1-NR
Dan Gold
31 Oct 03
RENAISSANCE INSTITUTIONAL
DIVERSIFIED ALPHA FUND INTL.
L.P.,A
Renaissance Technologies LLC
28 Feb 12
Q/Y
M
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
$1'875M
Jul 15
2,446.90
$1'474M
Jul 15
133.96
$248M
Nov 15
2,699.23
$333M
Dec 15
293.77
$1'476M
Nov 15
343.60
$345M
Nov 15
181.88
31 Oct 04
$217M
Nov 15
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

4.49%
15 Dec 15 (0.04%)
6.85%
-2.3%
1.39%
14.69%
6.55%
12.19%
7.65%
9.04%
Max
Drawdown1
(40.35%)
Feb 08 - Dec 08
11 Dec 15
2.18%
14.96%
10.78%
6.53%
-1.26%
8.03%
10.77%
(8.76%)
Mar 13 - Sep 13
30 Nov 15
1.82%
13.84%
14.58%
1.82%
-2.89%
15.63%
1.56%
8.62%
6.01%
(10.52%)
Feb 12 - Sep 13
16 Dec 15
2.45%
10.37%
10.56%
24.79%
13.62%
1.18%
12.58%
14.82%
6.84%
(7.89%)
May 11 - Sep 11
11 Dec 15
1.13%
9.71%
0.79%
16.99%
19.52%
1.75%
20.05%
20.22%
9.39%
(7.80%)
Apr 10 - Jun 10
30 Nov 15
0.29%
0.35%
-0.01%
14.64%
1.75%
-0.15%
4.98%
6.74%
6.33%
(17.75%)
Jun 08 - Dec 08
Diversified/Japan
LIM JAPAN FUND
George Long
Date
209.74
Ytd Avg. 2015

(0.31%)
11 Dec 15 (0.02%)
(0.31%)
5.85%
11.39%
5.62%
2.73%
14.28%
6.89%
5.52%
(10.09%)
Jun 08 - Feb 09

Source - HSBC
58
Inception Liquidity
Date
Asset
Size
Last NAV
or Index
Date
MTD
YTD
2014
2013
2012
2011
2010
Ann.
Return
Ann.
Volatility
Ytd Avg. 2015

5.95%
11 Dec 15 (0.48%)
5.33%
0.36%
7.56%
12.24%
7.67%
2.67%
9.11%
6.30%
Max
Drawdown1
Arbitrage
Ytd Avg. 2015
5.95%
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
$528M
Sep 15
2,348.68
254M
Oct 15
232.50
$826M
Nov 15
139.06
(9.57%)
Sep 08 - Feb 09
11 Dec 15
0.62%
5.43%
-4.16%
0.53%
24.85%
6.52%
11.98%
10.09%
9.22%
(15.42%)
Mar 10 - Jun 10
30 Nov 15
0.72%
7.08%
1.39%
-6.17%
13.41%
20.36%
7.90%
6.78%
(8.64%)
Oct 12 - Aug 13

Source - HSBC
59
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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
or by other members of the HSBC Group. Some services are not available from certain locations. Some HSBC Offices listed may act only as
representatives of HSBC Private Bank, and are therefore not permitted to sell products and services, or offer advice to customers. They serve as points of contact only.
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
No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying,
recording or otherwise, without the prior written permission of HSBC Bank USA.

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Hedge Weekly N51

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

ALPHAGEN VOLANTIS FUND, LTD -

BLACKROCK 32 CAPITAL MASTER FU

CANDLEWOOD STRUCTURED CREDIT F

ALTAI CAPITAL PARTNERS OFFSHOR

BLACKROCK CAPITAL STRUCTURE IN

CANDLEWOOD STRUCTURED CREDIT H 15

AMAZON MARKET NEUTRAL FUND CLA

BLACKROCK EUROPEAN DIVERSIFIED

CANOSA GLOBAL MACRO FUND LTD

ANAVON MASTER FUND LTD CLASS -

BLACKROCK FIXED INCOME GLOBAL

CANTAB CAPITAL PARTNERS QUANTI

ANDALUSIAN CORPORATE OPPORTUNI

BLACKROCK OBSIDIAN FUND

CANYON BALANCED FUND LTD

ANDURAND COMMODITIES FUND

BLACKROCK PAN ASIA OPPORTUNITI

CANYON VALUE REALIZATION FD, L

A.R.T. INTERNATIONAL INVESTOR

ANTARES EUROPEAN FUND, LTD - U

BLACKROCK UK EQUITY HEDGE FUND

CAPEVIEW AZRI 2X FUND

ABACO FINANCIALS FUND

APERIOS EMERGING CONNECTIVITY

BLUEBAY CREDIT ALPHA LONG SHOR

CAPEVIEW AZRI FUND

ABRAX MERGER ARBITRAGE S.G. FU

AQUILUS INFLECTION FUND LTD E

BLUEBAY EMERGING MARKET CORPOR 13

CAPEVIEW RECOVERY FUND

ABSOLUTE INSIGHT CREDIT FUND B

ARISTEIA INTERNATIONAL LTD

BLUEBAY EMERGING MARKET OPPORT

CAPITAL FOUR CREDIT OPPORTUNIT

ABSOLUTE INSIGHT EMERGING MARK

ARROWGRASS MASTER FUND

BLUEBAY EVENT DRIVEN CREDIT FU

CAPULA GLOBAL RELATIVE VALUE F

ABSOLUTE INSIGHT UK EQUITY MKT

ASCEND PARTNERS FUND II LTD -

BLUEMATRIX FUND CLASS -A- USD

CARLYLE LIQUID TACTICAL FUND

ACUITY CORPORATE OPPORTUNITY F

ASGARD FIXED INCOME FUND LTD

BLUEMOUNTAIN CREDIT ALTERNATIV

CARLYLE TREND FOLLOWING FUND

ADELPHI EUR. FUND $ (A)

ASPECT DIVERSIFIED FUND - CLAS

BLUEMOUNTAIN EQUITY ALTERNATIV

CASSIOPEIA FUND CLASS C

ATLAS ENHANCED FUND LTD

BLUEMOUNTAIN LONG SHORT EQUITY

CAXTON GLOBAL INVESTMENT LTD

ADVENT HEDGED CONVERTIBLE STRA

ATLAS FUNDAMENTAL TRADING FUND