EFTA00602700.pdf

Hedge Weekly N°19 Investment Funds Performance Review HSBC Alternative Investment Group Week of Monday 05 May to Friday 09 May 2014 HSBC ID Alternative Investment Products are: NOT A DEPOSIT OR NOT FDIC INSURED NOT INSURED BY NOT GUARANTEED SUBJECT TO OTHER OBLIGATION ANY FEDERAL BY THE BANK OR ANY INVESTMENT RISK. OF THE BANK OR GOVERNMENT OF ITS AFFILIATES INCLUDING POSSIBLE ANY OF ITS AGENCY OF THE LOSS OF PRINCIPAL AFFILIATES UNITED STATES INVESTED EFTA00602700 Contents Index by Strategies 3 Index by Funds 4 Top/Bottom 20 9 Newsletter 12 About This Document 54 Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group I 2 EFTA00602701 Index by Strategies Convertible Arbitrage Commodity Commodity-Systematic 37 37 Convertible 12 Currency 37 Credit Long/Short Diversified 38 Credit 13 Fixed Income 41 Systematic 41 Distressed Managed Futures Distressed Security 18 Commodity 42 Equity Long/Short Currency 42 Equity-Commodity 20 Fixed Income 42 Equity-Diversified 21 Systematic 44 Equity-Energy 27 Market Neutral Equity-Financial 28 Discretionary 45 Equity-Healthcare 28 Equity-Mid-Small Cap 28 Equity Diversified 46 Equity-Pharma-Biotech 29 Multi-Strategy 46 Equity-Real Estate 29 Statistical Arbitrage 47 Equity-Technology 30 Systematic 47 Equity-Utility 30 Merger Arbitrage Event Driven Merger-Arbitrage 48 Equity-Diversified 31 Multi-Strategy Multi-Strategy 31 Credit 49 Fixed Income Arbitrage Diversified 49 Fixed Income 33 Volatility Arbitrage Fund of Funds Arbitrage 53 Arbitrage 34 Event Driven 34 Long/Short 34 Macro 34 Multi-Strategy 35 Trading 35 Long Only Equity-Diversified 36 Macro Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group Source HSBC 3 EFTA00602702 Index by Funds ALYSHEBA FUND LIMITED 26 BLACKROCK MULTI.STRATEGY FUND 50 BTG PACTUAL GLOBAL EM. MKTS AN 39 4 AMAZON MARKET NEUTRAL FUND CLA 45 BLACKROCK 32 CAPITAL MASTER FU 47 BTG PACTUAL GLOBAL EQUITY OPPO 50 ANAVON MASTER FUND LTD CLASS - 23 BLACKROCK CAPITAL STRUCTURE IN 50 400 CAPITAL CREDIT OPPORTUNITI 16 ANDURAND COMMODITIES FUND 37 BLACKROCK EUROPEAN DIVERSIFIED 46 Ci A ANTARES EUROPEAN FUND. LTD - U 22 BLACKROCK FIXED INCOME GLOBAL 33 CAIRN CREDIT FOCUS FUND LTD 13 AQUILUS INFLECTION FUND LTD E 22 BLACKROCK OBSIDIAN FUND 33 CAIRN SPECIAL OPPORTUNITIES CR 13 A.R.T. INTERNATIONAL INVESTOR 47 ARCUS JAPAN FUND -JPY- 25 BLACKROCK UK EQUITY HEDGE FUND 26 CAMPBELL GLOBAL ASSETS FUND LT 42 ABSOLUTE INSIGHT CREDIT FUND B 13 ARISTEIA INTERNATIONAL LTD 14 BLUEBAY CREDIT ALPHA LONG SHOR 14 CAMPBELL GLOBAL ASSETS FUND LT 43 ABSOLUTE INSIGHT EMERGING MARK 13 ARMAJARO COMMODITIES FUND CLAS 37 BLUEBAY EMERGING MARKET FIXED 13 CAMPBELL GLOBAL ASSETS FUND LT 47 ABSOLUTE INSIGHT UK EQUITY MKT 45 ARMAJARO EMERGING MARKETS FUND 21 BLUECREST CAPL INTL LTD A USD 50 CANDLE WOOD SPECIAL SITUATIONS 18 ACUITY CORPORATE OPPORTUNITY F 16 ARMAJARO STS COMMODITIES FUND 37 BLUECREST EMERGING MARKETS FUN 38 CANDLE WOOD STRUCTURED CREDIT F 15 ADELPHI EMERGING EUROPE. FUND 21 ARROWGRASS MASTER FUND 49 BLUECREST MULTI STRATEGY CREDI 14 CANDLE WOOD STRUCTURED CREDIT H 15 ADELPHI EUR. FUND (A) 22 ASCEND PARTNERS FUND II LTD - 26 BLUEMATRIX FUND CLASS -A- USD 47 CANOSA GLOBAL MACRO FUND LTD 39 ADRIGO HEDGE 22 ASGARD FIXED INCOME FUND LTD 14 BLUEMOUNTAIN CREDIT ALTERNATIV 14 CANTAB CAPITAL PARTNERS QUANTI 43 AG MORTGAGE VALUE PARTNERS LTD 14 ASPECT DIVERSIFIED FUND - CLAS 42 BLUEMOUNTAIN EQUITY ALTERNATIV 53 CANYON BALANCED FUND LTD CIA 49 AG SUPER FUND INTERNATIONAL. L 31 ATLAS ENHANCED FUND LTD 49 BLUEMOUNTAIN LONG SHORT CREDIT 14 CANYON VALUE REALIZATION FD. L 18 AHL (cayman) SPC EVOLUTION USD 42 ATLAS FUNDAMENTAL TRADING FUND 23 BLUETREND FUND. LTD -CLASS A 42 CAPEVIEW AZRI 2X FUND 22 AHL ALPHA 42 ATLAS GLOBAL INVESTMENTS LTD U 49 BNY MELLON ARX BRAZIL FUND SPC 21 CAPEVIEW AZRI FUND 22 AHL DIMENSION USD SHARES CLASS 49 AXONIC CREDIT OPPORTUNITIES OV 14 BORONIA DIVERSIFIED FUND MASTE 42 CAPEVIEW RECOVERY FUND 13 AHL DIVERSIFIED 42 AXONIC SYSTEMATIC ARBITRAGE OV 33 BOUSSARD & GAVAUDAN HOLDING.. 50 CAPITAL FOUR CREDIT OPPORTUNIT 13 AJIA-LIGHTHORSE CHINA GROWTH F 20 BREVAN HOWARD ASIA FUND LIMITE 38 AJR INTERNATIONAL (BVI). INC. 26 B BREVAN HOWARD COMMODITIES STRA 37 CAPITAL FUND. LTD (THE) 39 CAPULA GLOBAL RELATIVE VALUE F 33 AKAMATSU FUND 25 BREVAN HOWARD CREDIT CATALYSTS 14 BAF LATAM TRADE FINANCE FUND 13 CASSIOPEIA FUND CLASS C 53 ALLBLUE LIMITED 49 BREVAN HOWARD CREDIT VALUE FU 15 BASSO INVESTORS LTD 12 CASTLEROCK FUND LTD 26 ALLIANCE BERNSTEIN SELECT US E 26 BREVAN HOWARD FUND. LTD-USD 39 BAY POND INVESTORS (BERMUDA). 27 CAXTON GLOBAL INVESTMENT LTD 39 ALPHA4X CAPITAL GROWTH FUND 38 BREVAN HOWARD INVEST. FUND E 41 BAY RESOURCES PARTNERS OFFSHOR 26 CC ASIA ABSOLUTE RETURN FUND 20 ALPHADYNE INVESTMENT STRATEGIE 38 BREVAN HOWARD MIS FUND. LTD - 50 BCM WESTON LP (BILLINGS CAPITA 26 CCI HEALTHCARE PARTNERS LTD 28 ALPHAGEN HOKUTO FUND LTD - CIA 25 BRIGADE LEVERAGED CAPITAL STRU 17 BEACH POINT TOTAL RETURN OFFSH 16 CERBERUS INTL. LTD CLASS A A/ 18 ALPHAGEN JAPAN ABS RETURN FD. 25 BROOKFIELD GLOBAL LISTED INFRA 24 BEACONLIGHT OFFSHORE FUND LTD 24 CHENAVARI CORPORATE CREDIT STR 15 ALPHAGEN OCTANIS CLASS A 26 BROOKFIELD GLOBAL REITS LONG S 29 BLACK DIAMOND RELATIVE VALUE L 45 CHENAVARI MULTI STRATEGY CREDI 49 ALPHAGEN VOLANTIS FUND. LTD - 28 BRUMMER MULTISTRATEGY 2XL. LTD 50 BLACK DIAMOND. LTD - CLASS B 50 CHENAVARI REGULATORY CAPITAL S 13 ALYDAR FUND LTD 26 BRYN MAWR OFFSHORE LTD 47 BLACKROCK EOS CLASS B USD COM 47 CHENAVARI TORO CAPITAL I A 14 Past performance is not a reliable indicator of future performance. SC.1'CO I ISBC HSBC Alternative Investment Group I 4 EFTA00602703 Index by Funds CHILTON CHINA OPPORTUNITIES FU 20 DUET GLOBAL FUND PLUS 24 FORTRESS MACRO FUND LTD. CLAS 39 COBALT OFFSHORE LTD 26 DYMON ASIA MACRO FUND (SERIES 37 H COHERENCE CAPITAL SPECTRUM FUN 15 G COMAC GLOBAL MACRO FUND 39 E HABROK LTD HALCYON OFF. ASSET-BACKED VALU 24 19 GABELLI ASSOCIATES LIMITED - C 48 COMMONWEALTH OPPORTUNITY CAYMA 39 EAGLE GLOBAL FUND 43 GAM DIVERSITY I INC - US$ CLAS 35 HALCYON PARTNERS OFFSHORE FUND 50 CONQUEST MACRO FUND. LTD (COMP 43 EAGLE QUANTITATIVE MACRO FUND 41 GAM DIVERSITY II INC - US$ CLA 35 HARBOUR HOLDINGS LTD 29 CONTRARIAN CAPITAL FUND I OFFS 18 ECLECTICA FUND (THE) CLASS A E 39 GAM GLOBAL RATES HEDGE FUND 39 HARMONIC ALPHA PLUS MACRO FUN 40 CONTRARIAN EMERGING MARKETS OF 13 EDGESTREAM NIAS FUND 43 GAM TALENTUM ENHANCED EUROPE L 46 HARNESS MACRO CURRENCY FUND 37 COOPER CREEK PARTNERS LLC 29 EIFFEL CREDIT OPPORTUNITIES FU 14 GAM TRADING II USD 35 HARVEY SMIDCAP OFFSHORE FUND L 29 COS ABS FEEDER FUND CLASS -B 15 ELEMENT CAPITAL FUND 39 GAMUT INVESTMENTS 39 HIGHBRIDGE CAPITAL CORPORATION 50 COS ASIA FEEDER FUND LTD- CLAS 12 ELLINGTON CREDIT OPPORTUNITIES 15 GAVEA FUND LTD . CLASS A S11 38 HIGHBRIDGE LONGISHORT EQUITY F 26 COS CONV 8 QUANT STRATS FEED F 12 ELLINGTON MORTGAGE OPPORTUNITI 15 GEMS PROGR. FUND SICAV RECOVER 34 HORSEMAN GLOBAL FUND USD 24 COS CREDIT LONG SHORT FEEDER F 15 ELM RIDGE CAPITAL PARTNERS L.P 26 GLADE BROOK GLOBAL OFFSHORE FU 24 HSBC ASIAN ADVANTEDGE FUND 34 COS DIRECTIONAL OPP. FEEDER FU 50 EMF FIXED INCOME FUND. LTD 33 GLENVIEW CAPITAL PARTNERS (CAY 26 HSBC CREDIT MARKET OPPORTUNITI 34 COS DIVERSIFIED FUND (SPC) LTD 50 EMINENCE FUND LTD A INITIAL S 26 GLG CROSS ASSET VALUE OFFSHORE 14 HSBC GH FUND USD 35 CRABEL FUND SPC LTD CLASS A 43 ENNISMORE EUROPEAN SMALLER COM 28 GLG EUROPEAN EQUITY ALTERNATIV 46 HSBC HEDGE INVESTMENTS FUND 35 CUMULUS ENERGY FUND CLASS A US 42 EPISODE INC. CLASS A 39 GLG EUROPEAN LONG SHORT FUND C 22 HSBC LEVERAGED GH FUND 35 CYGNUS UTILITIES. INFRASTRUCTU 30 EQUILIBRIA JAPAN FUND LTD IX U 45 GLG MARKET NEUTRAL FUND - CLAS 50 HSBC MAA FUND USD 34 D EQUILIBRIA JAPAN FUND LTD 2X 45 GOLDEN CHINA FUND NR CLASS 20 HSBC NEXT GENERATION FUND NNI 35 EXANE ARCHIMEDES FUND CLASS A 30 GRAHAM ABSOLUTE RETURN TRADING 39 HSBC SPECIAL OPPORTUNITIES FUN 34 DAVIDSON KEMPNER DIST. OPP. IN 18 EXANE MICROMEGAS FUND LTD- CLA 45 GRAHAM GIF II PROPRIETARY MATR 43 HSBC TRADING ADVANTEDGE FUND 35 DAVIDSON KEMPNER INTL. LTD C 31 EXANE TEMPLIERS FUND 24 GRAHAM GLOBAL INVESTMENT FUND 39 HSBC UCITS ADVANTEDGE FUND -US 35 DB PLATINUM IV DBX SYSTEMATIC 43 GRAHAM GLOBAL INVESTMENT FUND 43 HT ASIAN CATALYST FUND LLC 20 DB PLATINUM V HERMES A.R. COMM 37 F GRAHAM GLOBAL INVESTMENT FUND 43 HUDSON BAY INTERNATIONAL FUND 46 DB SELECT EUROFIN ACCURATE FX 42 GRAHAM GLOBAL INVESTMENT FUND 43 HUTCHIN HILL DIVERSIFIED ALPHA 51 FARRINGDON ALPHA ONE 24 DIAMOND CAPITAL MANAGEMENT 35 GRAHAM GLOBAL INVESTMENT FUND- 40 FINISTERRE SOVEREIGN DEBT FUND 13 DISCOVERY GLOBAL MACRO FUND LT 39 GREEN FUND LLC GREEN CLASS 38 I FIREBIRD NEW RUSSIA FUND. LTD 21 DISCOVERY GLOBAL OPPORTUNITY F 39 GREEN T G2 FUND 15 FIREBIRD REPUBLICS FUND. LTD 21 III FUND LTD 33 DISCUS FEEDER LTD CL. B USD ST 43 GREENLIGHT CAPITAL OFFSHORE. L 29 FOC PARTNERS CAPITAL I FUND 15 III RELATIVE VALUE CREDIT STRA 33 DORSET ENERGY FUND. LTD CLAS 27 GROWTH MANAGEMENT LTD 21 FORT GLOBAL DIVERSIFIED 43 III SELECT CREDIT FUND LTD CLA 15 DOUBLE BLACK DIAMOND LTD - SER 50 GRT TOPAZ OFFSHORE PARTNERS. L 29 FORTRESS ASIA MACRO FUND 38 INVICTA OFFSHORE FUND LTD 26 DROMEUS GLOBAL OPPORTUNITIES F 31 GSA CAPITAL INTERNATIONAL FUND 47 Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group I 5 Source FISISC EFTA00602704 Index by Funds IP ALL SEASONS ASIAN CREDIT HE 13 LAZARD GLOBAL HEXAGON FUND 24 MARSHALL WACE MW GLOBAL FINA 28 MOORE MACRO MANAGERS FUND. LTD 40 IVORY CAPITAL FLAGSHIP STRATEG 27 LAZARD RATHMORE FUND - CLASS A 12 MARSHALL WACE MW GLOBAL OPPO 24 MS ASCEND UCITS FUND CLASS I E 24 IVORY OPTIMAL FUND LTD 27 LC CAPITAL OFFSHORE FUND. LTD 18 MARSHALL WACE MW MARKET NEUT 45 MUDRICK DISTRESSED OPPORTUNITY 18 LC EQUITY FUND LTD 22 MARTIN CURRIE ARF JAPAN FUND 25 J LIM ASIA MULTI-STRATEGY FUND C 46 MARTIN CURRIE EUROPEAN HEDGE F 22 N LIM JAPAN FUND 52 MASTERS FUND LTD MAGNOLIA SERI 34 JABCAP EMEA FUND CLASS X1 21 NEVSKY FUND PLC (COMPOSITE) 25 LINDEN INTERNATIONAL LTD si MAVERICK FUND. LTD CLASS Art 24 JABCAP GLOBAL BALANCED FUND LT 51 NEZU CYCLICALS FUND LTD 20 LION FUND. LTD (THE) 48 MBAM ACTIVE ENHANCED 22 JABCAP GLOBAL CONVERTIBLE FUND 12 NORDIC ALPHA CLASS B - NOK 23 LIONSCREST TAILPRO -US EQUITY 53 MBAM ACTIVE LONG SHORT 45 JABCAP MULTI STRATEGY FUND LTD 51 JENOP GLOBAL HEALTHCARE FUND L 28 LMR FUND LTD 51 MELLON OFF GLOB OPP FUND LTD - 40 O LNG EUROPA CREDIT FUND 14 MELLON OFF. ALPHAACCESS FUND L 40 JPMORGAN PORT. STRAT. FUNDS-EU 22 LONDON DIVERSIFIED FUND. LTD - 33 MERCHANT COMMODITY FUND (THE) 37 OBSERVATORY CREDIT MARKETS FUN 14 K LOOMIS SAYLES CREDIT LONG SHOP 15 MIDOCEAN ABSOLUTE RETURN CREDI 17 OCCO EASTERN EUROPEAN FUND A S 21 LUCERNE CAPITAL OFFSHORE FUND 22 MIDOCEAN CREDIT OPPORTUNITY FU 17 OCEANIC HEDGE FUND - CLASS A 20 KALTCHUGA FUND - RUSSIA EO. SU 21 LUCIDUS CAPITAL G4 FUND 15 MILLENNIUM INTL LTD 51 OCP DEBT OPPORTUNITY INTERNATI 17 KAMUNTING STREET OFFSHORE FUND 33 LYNX (BERMUDA) LTD 43 MKP CREDIT OFFSHORE FUND 16 OCTAGON HIGH INCOME FUND 17 KEYNES LEVERAGED QUANTITATIVE 43 LYNX BERMUDA 1.5 LTD 43 MKP OPPORTUNITY OFFSHORE. LTD 40 OCTAGON PAN ASIA FUND 20 KG INVESTMENT FUND LLC 31 MLIS BEACH POINT DIVERSIFIED 16 ODEY EUROPEAN. INC (EUR) 23 KIMA PAN ASIA OFFSHORE FUND - 20 M MLIS CCI HEALTHCARE LONG SHO 28 OMEGA OVERSEAS PARTNERS. LTD 27 KINETICS FUND. INC A/A 27 MLIS GRAHAM CAPITAL SYSTEMAT 44 OMNI MACRO FUND I LIMITED 40 M. KINGDON OFFSHORE NV A/1 24 KING STREET CAPITAL. LTD 18 MLIS MARSHALL W. TOPS UCITS 45 ONE WILLIAM STREET CAPITAL FUN 17 KING STREET EUROPE LTD CLASS A 18 MACQUARIE ASIAN ALPHA FUND 46 MLIS OZ EUROPE UCITS FUND CL 31 ONSLOW MACRO FUND CLASS A 40 MACQUARIE CREDIT NEXUS FUND LT 15 KINGDON CREDIT LTD A1/1 15 MLIS THEOREMA EUROPEAN EQUIT 22 ORTUS FUND (CAYMAN) LTD 42 MADISON STREET FUND L.P. 27 KINSALE COMPASS FUND 24 MLIS YORK EVEN DRIVEN UCITS 31 OWL CREEK OVERSEAS FUND. LTD 32 MADRAGUE EQUITY LONG SHORT 22 KL Special Opportunities FUND 31 MLM MACRO PEAK PARTNERS OFFSH 40 OWS CREDIT OPPORTUNITY FUND 18 MAN GLG MULTI-STRATEGY FUND CL 51 KLS DIVERSIFIED FUND LTD 33 MOJNA ALPHA LEVERAGED MASTER F 23 OYSTER CREDIT OPPORTUNITIES FU 14 MAN GLG MULTI-STRATEGY UCITS C 51 KROM RIVER COMMODITY FUND 37 MOJNA ALPHA MASTER FUND - EUR 23 OYSTER MARKET NEUTRAL EUR 45 MARATHON VERTEX JAPAN FD. LTD 25 MONARCH DEBT RECOVERY FUND LTD 18 L MARCATO INTERNATIONAL LTD 31 MONEDA ABSOLUTE RETURN LTD SUB 31 p MARINUS OPPORTUNITIES FUND (PR 17 LANSDOWNE DEVELOPED MARKET FUN 24 MARSHALL WACE MW CORE A USD 22 MONEDA LATIN AMERICAN CORPORAT 13 PALOMINO FUND LTD CLASS B ORIG 16 LANSDOWNE EUROPEAN EQUITY FD. 22 MARSHALL WACE MW EUREKA Al E 24 MONTLAKE SKYLINE UCITS FUND IN 21 PAMPLONA CREDIT OPPORTUNITIES 14 LANSDOWNE GLOBAL FINANCIALS FU 27 MARSHALL WACE MW EUROPEAN TO 22 MOORE GLOBAL INV FD. LTD A 40 PAN ASIA OPPORTUNITIES FUND LT 46 Past performance is not a reliable indicator of future performance. Source FISK HSBC Alternative Investment Group I 6 EFTA00602705 Index by Funds PASSPORT GLOBAL STRATEGY FUND 25 POLAR CAPITAL EUROP CONVICTION 23 SCHRODER ISF EMERGING MARKET D 13 THE CAMBRIDGE STRATEGY EMERG 38 PASSPORT LONG SHORT STRATEGY F 25 POLAR CAPITAL EUROPEAN FORAGER 28 SEGANTII ASIA-PACIFIC EQUITY M 49 THE CAMBRIDGE STRATEGY EXTEN 38 PASSPORT SPECIAL OPPORTUNITIES 25 POLLUX BRAZILIAN EQUITIES FUND 21 SELIGMAN TECH SPECTRUM FUND CL 30 THEOREMA EUROPE FUND PLUS LTD 23 PAULSON ADVANTAGE LTD -A- 32 PORTLAND HILL OVERSEAS FUND LT 31 SEMINOLE OFFSHORE FUND 27 THREE BRIDGES EUROPE MASTER FU 23 PAULSON ADVANTAGE PLUS LTD 32 PROLOGUE FEEDER FUND. LTD. CLA 33 SENVEST PARTNERS. LTD CLASS 29 TIC ARBITRAGE ENHANCED FUND 48 PAULSON CREDIT OPPORTUNITIES L 18 PROSIRIS GLOBAL OPPORTUNITIES 16 SFP VALUE REALIZATION FUND 25 TIC SECURITIZED ASSET FUND LTD 16 PAULSON ENHANCED LTD 48 SIERRA EUROPE OFFSHORE. LTD - 23 TILDEN PARK OFFSHORE INVESTMEN 17 PAULSON INTERNATIONAL. LTD 48 SILVER POINT CAPITAL OFFSHORE 18 TOSCA CLASS A USD 28 PAULSON RECOVERY FUND LTD 32 SILVERBACK ARBITRAGE FUND 12 TRADELINK INTEGRATED PROGRAM L 44 OVT OFFSHORE LTD CLASS 1-NR 51 PEGASUS FUND LIMITED SHARES A- 26 SINFONIETTA FUND 38 TRAXIS SIVIK GLOBAL HEALTHCARE 29 PELAGUS CAPITAL FUND 33 R SOLAISE SYSTEMATIC FUND LTD ( 44 TREND MACRO OFFSHORE LTD 40 PELHAM LONG(SHORT FUND LTD CIA 23 SOLUS SOLA LTD CL. I 32 TRIAN PARTNERS LTD 32 PENSATO EUROPA FUND LTD EURO C 23 RAB SPECIAL SITUATION FD LTD 28 SOMERSET SPECIAL OPPORTUNITIES 32 TRICADIA CREDIT STRATEGIES. LT 16 PERCEPTIVE LIFE SCIENCES OFFSH 29 RAVEN ROCK CREDIT OFFSHORE FUN 17 SPF CREDIT SUISSE SECURITIZED 16 TT INTERNATIONAL FUND 40 PERRY PARTNERS INTERNATIONAL I 32 RBR EUROPEAN LONG SHORT LTD (E 23 SPINNAKER GLOB OPP FUND. LTD C 38 TT MID-CAP EUROPE LONG/SHORT F 23 PERSHING SQUARE INTL.LTD 32 REAL RETURN ASIAN FUND LTD (TH 20 SPINNAKER GLOBAL EMERGING MARK 49 TUDOR B.V.I GLOBAL FUND LTD -A 40 PHALANX JAPAN AUSTRALASIA MULT 49 REDWOOD OFFSHORE FUND 19 SR GLOBAL FUND C - INTERNATION 25 TUDOR B.V.I GLOBAL FUND LTD -A 40 PHARO MACRO FUND LTD 40 RENAISSANCE INSTITUTIONAL DIVE 51 SR GLOBAL FUND H- JAPAN (Real 25 TUDOR DISCRETIONARY MACRO FUND 41 PHARO TRADING FUND 38 RENAISSANCE INSTITUTIONAL EQUI 27 SR GLOBAL FUND INC G - GLOBA 21 TULIP TREND FUND. LTD - A 44 PIMCO ABSOLUTE RETURN STRATEGY 33 RENAISSANCE INSTITUTIONAL FUTU 44 SR PHOENICIA INC CLASS -A- SER 21 TWO SIGMA ABSOLUTE RETURN FUND 46 PIMCO GLOBAL CREDIT OPPORTUNIT 16 ROSEMONT OFFSHORE FUND LTD CIA 47 STANDARD PACIFIC CAPITAL 25 TWO SIGMA COMPASS CAYMAN FUND 44 PIMCO MULTI-ASSET VOLATILITY F 53 RUBICON GLOBAL FUND. LTD 40 STK CAPITAL GLOBAL EQUITIES 25 TWO SIGMA HORIZON CAYMAN LTD 51 PINE RIVER ASIA FUND 12 RUSSIAN PROSPERITY FUND - A 36 STONE LION FUND LTD CLASS A 18 TYRUS CAPITAL EVENT FUND LTD 32 PINE RIVER CONVERTIBLES FUND 12 RWC SAMSARA FUND CLASS A EURO 23 STRATEGIC VALUE RESTRUCTURING 18 TYRUS CAPITAL OPPORTUNITIES FU 32 PINE RIVER CREDIT RELATIVE VAL 16 RWC US ABSOLUTE ALPHA FUND C 27 STRATUS FUND LIMITED CLASS B 51 PINE RIVER FIXED INCOME FUND L 16 SUSA EUROPEAN EQUITIES FUND CL 23 U PINE RIVER FUND CLASS -B1- SHA 51 S PINE RIVER LIQUID MORTGAGE FUN 33 T UMJ KOTOSHIRO FUND 25 SAB OVERSEAS FUND LTD 27 PINPOINT CHINA FUND CLASS A US 20 SABA CAPITAL OFFSHORE FUND LTD 16 TELLIGENT GREATER CHINA FUND 20 V PINPOINT MULTI-STRATEGY FUND 40 SAGIL LATIN AMERICAN OPPORTUNI 21 TEWKSBURY INVESTMENT FUND. LTD 44 PLATINUM FUND LTD 25 VAN ECK HARD ASSETS 2X FUND LT 20 SALAR CONVERTIBLE ABSOLUTE RET 12 THE CAMBRIDGE STRATEGY APOLL 38 PLATINUM PARTNERS VALUE ARBITR 51 SCHRODER CAZENOVE UK ABSOLUTE 45 THE CAMBRIDGE STRATEGY ASIAN 37 VARDEN PACIFIC OPPORTUNITY OFF 16 Past performance is not a reliable indicator of future performance. Source FISISC HSBC Alternative Investment Group I 7 EFTA00602706 Index by Funds VISIUM BALANCED OFFSHORE FUND 29 VISIUM GLOBAL OFFSHORE FUND LT 51 VISIUM INSTITUTIONAL PARTNERS 28 VR GLOBAL OFFSHORE FUND LTD w 19 WATERSTONE MARKET NEUTRAL OFFS 12 WEISS MULTI-STRATEGY PARTNERS 51 WF ASIA FUND LTD 5/1 20 WHITEBOX MULTI-STRATEGY FUND 52 WINTON EVOLUTION FUND (THE) 44 WINTON FUTURES FUND CLASS B 44 YORK ASIAN OPPORTUNITIES UNITS 31 YORK INVESTMENT LTD -CLASS A-U z 32 ZADIG FUND CLASS Al 23 ZEAL CHINA FUND LIMITED 21 ZWEIG-DIMENNA INTL LIMITED - C 27 Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group SCYCC I ISBC 8 EFTA00602707 Top & Bottom 20 Funds of 2014 Top Investment Funds PERSHING SQUARE INTL.LTD 19.21 30 Apr 14 MELLON OFF. ALPHAACCESS FUND LTD MCY A/ 21.07 31 Mar 14 CUMULUS ENERGY FUND CLASS A USD 15.66 02 May 14 SR GLOBAL FUND H JAPAN (Real Pert) -18.43 05 May 14 TYRUS CAPITAL OPPORTUNITIES FUND LTD 14.61 30 Apr 14 SR GLOBAL FUND C INTERNATIONAL (Real Pero -18.41 05 May 14 PHARO TRADING FUND 14.48 17 Apr 14 EAGLE GLOBAL FUND -18.06 02 May 14 TYRUS CAPITAL EVENT FUND LTD 14.40 02 May 14 CC ASIA ABSOLUTE RETURN FUND -15.94 30 Apr 14 MERCHANT COMMODITY FUND (THE) - COMPOSITE 14.31 02 May 14 RUBICON GLOBAL FUND. LTD -15.08 02 May 14 CHENAVARI TORO CAPITAL I A 13.34 30 Apr 14 DISCOVERY GLOBAL MACRO FUND LTD CLASS -A- -13.57 02 May 14 SERIES 1 DORSET ENERGY FUND. LTD CLASS A 12.67 30 Apr 14 ODEY EUROPEAN. INC (EUR) -12.18 30 Apr 14 ATLAS FUNDAMENTAL TRADING FUND LTD- CLASS A 11.56 30 Apr 14 MUDRICK DISTRESSED OPPORTUNITY FUND LTD 10.81 02 May 14 DISCOVERY GLOBAL OPPORTUNITY FUND. LTD -12.04 30 Apr 14 SINFONIETTA FUND -11.79 30 Apr 14 LINDEN INTERNATIONAL LTD 10.27 30 Apr 14 MELLON OFF GLOB OPP FUND LTD - MULTICURRENCY - -10.61 31 Mar 14 SOLUS SOLA LTD CL. I 10.08 02 May 14 Al SENVEST PARTNERS. LTD - CLASS A 9.14 30 Apr 14 EAGLE QUANTITATIVE MACRO FUND LTD -10.28 30 Apr 14 HORSEMAN GLOBAL FUND USD 9.05 30 Apr 14 CAMPBELL GLOBAL ASSETS FUND LTD Class A -9.99 02 May 14 SELIGMAN TECH SPECTRUM FUND CLASS -A1-Sr2.2002 9.04 31 Mar 14 CAMPBELL GLOBAL ASSETS FUND LTD Class B -9.98 02 May 14 KAMUNTING STREET OFFSHORE FUND LTD 8.93 30 Apr 14 ADELPHI EMERGING EUROPE. FUND USD SHARES -9.86 30 Apr 14 FINISTERRE SOVEREIGN DEBT FUND 8.09 30 Apr 14 ZWEIG-DIMENNA INTL LIMITED CLASS A -9.81 30 Apr 14 AMAZON MARKET NEUTRAL FUND CLASS A USD 7.55 02 May 14 LANSDOWNE GLOBAL FINANCIALS FUND LTD. -N-LISD -9.80 30 Apr 14 RBR EUROPEAN LONG SHORT LTD (Ex Rhine Alpha Stars) 7.45 30 Apr 14 CHILTON CHINA OPPORTUNITIES FUND LTD -9.10 30 Apr 14 ENNISMORE EUROPEAN SMALLER COMPANIES 7.19 24 Apr 14 GRAHAM GLOBAL INVESTMENT FUND II K4D-15V - a97 06 May 14 COMPOSITE GRAHAM GIF II PROPRIETARY MATRIX SP SIES A 7.95 06 May 14 Return Date Bottom Investment Funds Return Date This ranking is for information only and should not be considered as exhaustive. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group 9 EFTA00602708 Top & Bottom 20 Funds of 2013 Top Investment Funds SFP VALUE REALIZATION FUND 82.12 31 Dec 13 RAB SPECIAL SITUATION FD LTD -32.86 31 Dec 13 SENVEST PARTNERS. LTD - CLASS A 79.51 31 Dec 13 CANTAB CAPITAL PARTNERS QUANTITATIVE FUND -27.65 31 Dec 13 (THE) - USD ARISTARCHUS PEGASUS FUND LIMITED SHARES A-I 63.74 31 Dec 13 PAULSON RECOVERY FUND LTD 63.18 31 Dec 13 WATERSTONE MARKET NEUTRAL OFFSHORE FUND. LTD -19.27 31 Dec 13 SR GLOBAL FUND H JAPAN (Real Pert) 62.51 31 Dec 13 ORTUS FUND (CAYMAN) LTD -17.32 31 Dec 13 BCM WESTON LP (BILLINGS CAPITAL MANAGEMENT) 50.32 31 Dec 13 EAGLE GLOBAL FUND -15.88 31 Dec 13 OWL CREEK OVERSEAS FUND. LTD 48.63 31 Dec 13 BLUETREND FUND. LTD CLASS A -11.50 31 Dec 13 JABCAP GLOBAL BALANCED FUND LTD CLASS D/1 NI 47.80 31 Dec 13 DISCUS FEEDER LTD CL. B USD STANDARD LEVERAGE -10.32 31 Dec 13 PASSPORT SPECIAL OPPORTUNITIES FUND LTD CLASS 45.50 31 Dec 13 EAGLE QUANTITATIVE MACRO FUND LTD -10.29 31 Dec 13 AA PERCEPTIVE LIFE SCIENCES OFFSH FUND. LTD 43.88 31 Dec 13 THE CAMBRIDGE STRATEGY EXTENDED MARKETS CURRENCY ALPHA -9.96 31 Dec 13 JABCAP MULTI STRATEGY FUND LTD CLASS D/1 NI 43.03 31 Dec 13 HSBC TRADING ADVANTEDGE FUND -8.75 31 Dec 13 GLENVIEW CAPITAL PARTNERS (CAYMAN). LTD. 42.90 31 Dec 13 HARMONIC ALPHA PLUS MACRO FUND - USD CLASS -8.34 31 Dec 13 PALOMINO FUND LTD CLASS B ORIGINAL SERIES 42.36 31 Dec 13 ARMAJARO STS COMMODITIES FUND CLASS -Z- -7.80 31 Dec 13 TRIAN PARTNERS LTD 40.06 31 Dec 13 CONQUEST MACRO FUND. LTD (COMP) -7.66 31 Dec 13 KINETICS FUND. INC ArA 39.73 31 Dec 13 LC CAPITAL OFFSHORE FUND. LTD -7.55 31 Dec 13 SR GLOBAL FUND C INTERNATIONAL (Real Pert) 36.28 31 Dec 13 ALPHA4X CAPITAL GROWTH FUND -723 31 Dec 13 SINFONIETTA FUND 34.47 31 Dec 13 SABA CAPITAL OFFSHORE FUND LTD 476 31 Dec 13 LANSDOWNE DEVELOPED MARKET FUND. LTD (GBP) 33.26 31 Dec 13 KROM RIVER COMMODITY FUND 447 31 Dec 13 PAULSON ENHANCED LTD 33.11 31 Dec 13 LIONSCREST TAILPRO -US EQUITY FUND -6.33 31 Dec 13 CHENAVARI TORO CAPITAL I A 32.93 31 Dec 13 COS CREDIT LONG SHORT FEEDER FUND LTD B1 EUR -6.23 31 Dec 13 PIMCO MULTI-ASSET VOLATILITY FUND LTD -6.17 31 Dec 13 Return Date Bottom Investment Funds Return Date This ranking is for information only and should not be considered as exhaustive. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 10 EFTA00602709 Top & Bottom 20 Funds of 2012 Top Investment Funds SFP VALUE REALIZATION FUND 44.54 31 Dec 12 CONQUEST MACRO FUND. LTD (COMP) .3116 31 Dec 12 TILDEN PARK OFFSHORE INVESTMENT FUND LTD 41.34 31 Dec 12 RAB SPECIAL SITUATION FD LTD .27.94 31 Dec 12 BROOKFIELD GLOBAL REITS LONG SHORT STRATEGY 40.00 31 Dec 12 PAULSON ADVANTAGE PLUS LTD .21.50 31 Dec 12 CHENAVARI REGULATORY CAPITAL STRATEGY DR C 36.91 31 Dec 12 ARMAJARO STS COMMODITIES FUND CLASS -Z- -18.15 31 Dec 12 COS DIRECTIONAL OPP. FEEDER FUND. Ltd - A NI USD 35.86 31 Dec 12 ORTUS FUND (CAYMAN) LTD -17.33 31 Dec 12 PINE RIVER FIXED INCOME FUND LTD 34.85 31 Dec 12 AJIA-LIGHTHORSE CHINA GROWTH FUND LTD -14.51 31 Dec 12 SENVEST PARTNERS. LTD - CLASS A 34.81 31 Dec 12 PAULSON ADVANTAGE LTD -A- -14.23 31 Dec 12 BLACKROCK OBSIDIAN FUND 34.27 31 Dec 12 ELM RIDGE CAPITAL PARTNERS L.P. -14.08 31 Dec 12 400 CAPITAL CREDIT OPPORTUNITIES 34.21 31 Dec 12 DISCUS FEEDER LTD CL. B USD STANDARD LEVERAGE -13.88 31 Dec 12 ASGARD FIXED INCOME FUND LTD 34.12 31 Dec 12 LYNX BERMUDA 1.5 LTD -10.82 31 Dec 12 CHENAVARI TORO CAPITAL I A 32.42 31 Dec 12 ASPECT DIVERSIFIED FUND CLASS A -10.66 31 Dec 12 SR GLOBAL FUND H JAPAN (Real Pert) 31.05 31 Dec 12 CAMPBELL GLOBAL ASSETS FUND LTD Class D -10.10 31 Dec 12 ODEY EUROPEAN. INC (EUR) 30.69 31 Dec 12 MLIS GRAHAM CAPITAL SYSTEMATIC MACRO UCITS -10.09 31 Dec 12 FUND RBR EUROPEAN LONG SHORT LTD (Ex Rhine Alpha Stars) 29.45 31 Dec 12 PALOMINO FUND LTD CLASS B ORIGINAL SERIES 29.29 31 Dec 12 COMAC GLOBAL MACRO FUND -8.95 31 Dec 12 WINTON EVOLUTION FUND (THE) -8.31 31 Dec 12 PINE RIVER LIQUID MORTGAGE FUND LTD 28.86 31 Dec 12 OCEANIC HEDGE FUND - CLASS A -7/3 31 Dec 12 MARCATO INTERNATIONAL LTD 28.67 31 Dec 12 VARDEN PACIFIC OPPORTUNITY OFFSHORE FUND I LTD 28.54 31 Dec 12 MERCHANT COMMODITY FUND (THE) COMPOSITE -7.60 31 Dec 12 GRAHAM GLOBAL INVESTMENT FUND II K4D-15V - 7.15 31 Dec 12 BTG PACTUAL GLOBAL EM. MKTS AND MACRO FD 28.12 31 Dec 12 COMPOSITE PERCEPTIVE LIFE SCIENCES OFFSH FUND. LTD 28.09 31 Dec 12 ONSLOW MACRO FUND CLASS A 472 31 Dec 12 LYNX (BERMUDA) LTD -6.71 31 Dec 12 Return Date Bottom Investment Funds Return Date This ranking is for information only and should not be considered as exhaustive. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 11 EFTA00602710 Convertible Arbitrage Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Convertible Vtd Avg. 2014 1.56% Vid Avg. 2014 Convertible/Asia 0.90% COS ASIA FEEDER FUND LTD- CLASS -B-USD 30 Apr 07 O $90M 1.288.77 30 Apr (0.98%) (0.97%) 4.46% 5.45% -4.26% 3.69% 7.76% (24.55%) Michael Hintze. Jean-Christophe Blanc Mar 14 14 Oct 07 - Oct 08 PINE RIVER ASIA FUND 30 Jun 04 O $147M 1.699.23 30 Apr 2.38% 2.76% 6.54% 8.08% 0.67% 5.54% 10.99% (37.86%) Nikhil Mankodi. Matthew Macpherson Apr 14 14 Jan 08 - Dec 08 Vid Avg. 2014 Convertible; Global 2.16% BASSO INVESTORS LTD 30 Sep 95 O $347M 7.332.00 02 May (0.05%) 3.63% 11.45% 9.5% 2.61% 11.31% 5.91% (25.00%) Howard Fischer Oct 13 14 Dec 07 - Oct 08 COS CONV & QUANT STRATS FEED FD. LTD 29 Feb 00 M $460M 3.090.82 30 Apr 0.20% 0.83% 5.9% 8.65% -1.88% 8.29% 8.03% (34.47%) CLASS-B- Apr 14 14 Oct 07 - Dec 08 Michael Hintze/ Alex Schoenenberger JABCAP GLOBAL CONVERTIBLE FUND Dl 30 Apr 07 W $371M 197.23 30 Apr (1.83%) 2.11% 27.14% 5.37% -14.15% 10.17% 12.90% (28.61%) Unrestricted Apr 14 14 May 08 - Nov 08 Philippe Jabre LAZARD RATHMORE FUND - CLASS A-2 31 May 07 QINI $1'186M 218.24 30 Apr 0.17% 2.69% 10.45% 4.59% -1.65% 11.94% 8.50% (16.23%) Sean Reynolds. Christopher Slenter° Mar 14 14 Aug 08 - Nov 08 SALAR CONVERTIBLE ABSOLUTE RETURN FUND 31 Aug 10 W $252M 118.86 02 May 0.03% 1.52% 10.34% 6.42% -2.86% 4.82% 3.19% (3.92%) Alex Warren. David Persaud Mar 14 14 Mar 11 - Deelt Vid Avg. 2014 Convertible/USA 1.00% PINE RIVER CONVERTIBLES FUND 31 Jul 09 O $159M 194.97 30 Apr 0.12% (0.83%) 19.34% 7.6% 4.98% 15.09% 6.88% (3.80%) Franklin Padamis Apr 14 14 Apr t0 - Jun 10 SILVERBACK ARBITRAGE FUND 31 Oct 06 O $571M 275.35 02 May 0.02% 1.51% 5.98% 3.34% 4.97% 14.45% 13.15% (25.79%) Silverback Asset Management Apr 14 14 Jun 08 - Nov 08 WATERSTONE MARKET NEUTRAL OFFSHORE FUND. 31 Jul 03 O $946M 201.57 02 May (0.37%) 2.33% -19.27% 11.1% 0.73% 6.73% 10.98% (19.41%) LTD Nov 13 14 Dec 12- Feb 14 Shawn Bergeisen 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group 1 12 EFTA00602711 Credit Long/Short Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann Return Ann. Vol Max Drawdown Credit Yld Avg. 2014 3.14% Yid Avg. 2014 Credit Emerging 2.74% ABSOLUTE INSIGHT EMERGING MARKET DEBT FUND 30 Apr 08 D €719M 1.46 07 May 0.47% 2.00% -0.65% 11.73% 0.08% 6.48% 7.64% (15.32%) CLASS BIP Apr 14 14 May 08 - Oct 08 Calm McDonagh BAF LATAM TRADE FINANCE FUND 29 Feb 08 M $330M 1.734.48 30 Apr 0.61% 2.47% 8.09% 8.71% 8.99% 9.34% 0.53% 0.00% Ernesto Lieniard & team. Mar 14 14 Jan 00 - Jan 00 BLUEBAY EMERGING MARKET FIXED INCOME 30 Nov 11 M $95M 104.40 31 Mar 0.12% 0.70% -2.49% 6.99% -0.62% 1.86% 3.84% (3.88%) OPPORTUNITY FUND Mar 14 14 Dec 12 - Jan to David Dowsett. Rodrigo Da Fonseca CONTRARIAN EMERGING MARKETS OFF FUND LTD 31 Dec 05 O $470M 324.47 30 Apr 0.41% 236% 14.61% 23.2% -7.16% 15.17% 14.18% (28.43%) Xiao Song Feb 14 14 Feb 08 .Oa 08 FINISTERRE SOVEREIGN DEBT FUND 31 Mar 03 O $662M 283.42 30 Apr 1.93% 8.09% 4.47% 4.3% 10.35% 9.85% 7.26% (21.00%) Paul Crean and Xavier Corin.Mick Apr 14 14 Jun 08 - Oa 08 IP ALL SEASONS ASIAN CREDIT HEDGE FUND 31 Jan 02 M $352M 22.51 23 Apr 0.84% 1.68% 2.2% 18.68% -1.37% 6.86% 9.31% (38.05%) Emil AIGUY Jul 13 14 Feb 08 - Mar 09 MONEDA LATIN AMERICAN CORPORATE DEBT FUND 30 Sep 07 O $146M 1.842.02 06 May 0.32% 1.49% 8.67% 11.48% 2.44% 9.69% 14.43% (32.05%) Mar 14 14 Aug 08 - Dec 08 Fernando Tisne and Javier Montem SCHRODER ISF EMERGING MARKET DEBT A/13 -I 31 Jan 02 Daily $860M 35.08 07 May 0.63% 2.93% 0.8% 5.36% 0.69% 8.30% 5.21% (9.31%) ACC- Dec 13 14 Mar 08 -Oa 08 Geoffrey 8/arming Ytd Avg. 2014 Credit/Europe 3.70% ABSOLUTE INSIGHT CREDIT FUND BI P2 EURO 30 Sep II W €585M 1.28 07 May 0.26% 3.45% 7.38% 12.65% 2.59% 10.08% 4.62% (1.77%) Alex Veroude Apr 14 14 Oct II - Dec it CAIRN CREDIT FOCUS FUND LTD 31 Jul 12 M $83M 110.88 31 Mar 0.17% (0.39%) 4.63% 6.38% 6.39% 2.84% (1.07%) Cairn Capital Limited Mar 14 14 Jan 14 - Feb 14 CAIRN SPECIAL OPPORTUNITIES CREDIT FUND 31 Dec 07 O €82M 184.29 31 Mar (0.49%) 1.37% 8.54% 19.95% -12.51% 10.27% 8.01% (13.94%) Cairn Capital Limited Mar 14 14 Jun II • Nov 11 CAPEVIEW RECOVERY FUND 30 Jun 03 O $404M 339.21 30 Apr 1.10% 4.71% 18.23% 8.41% 1.48% 11.93% 8.99% (30.45%) Theo Phanos Apr 14 14 Oct 07 - Dec 08 CAPITAL FOUR CREDIT OPPORTUNITIES FUND 31 Dec 09 M €39M 138.74 30 Apr 1.68% 5.04% 16.31% 17.68% 10.64% 18.32% 7.82% (6.46%) Capital Four Management Team Mar 14 14 May 11 - Nov 11 CHENAVARI REGULATORY CAPITAL STRATEGY - DR 31 Mar 11 O $231M 158.44 31 Mar 0.97% 3.43% 15.19% 36.91% -2.87% 16.56% 5.75% (4.65%) E Feb 14 14 Jul 11 - See 11 Chenavari Investment Managers 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group I 13 Source - HSBC EFTA00602712 Credit Long/Short Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Ytd Avg. 2014 Credit/Europe 3.70% CHENAVARI TORO CAPITAL I A 31 May 09 M $409 M 853.96 30 Apr 3.98% 13.34% 32.93% 32.42% 24.71% 54.67% 12.17% (5.11%) Chenavari Investment Managers Feb 14 14 Jul 11 -Oct It EIFFEL CREDIT OPPORTUNITIES FUND CLASS A 30 Nov 11 M C110M 1.414.97 02 May 0.10% 5.81% 8.11% 20.07% 3.01% 15.41% 6.61% (4.47%) Emmanuel Weyd. Eiffel Investment Group Feb 14 14 Apr 12 - Jun 12 GLG CROSS ASSET VALUE OFFSHORE FUND LTD 30 Nov 12 M $102M 1.178.94 02 May 0.37% 4.99% 11.5% 0.71% 12.30% 3.32% (S20%) Chris Huggins Apr 14 14 Aug 13 - Sep 13 LNG EUROPA CREDIT FUND 31 Mar 11 M $67M 1.28737 31 Mar 1.24% 1.25% 16.1% 19.58% -7.79% 9.02% 8.78% (10.12%) LNG Capital LLP Feb 14 14 Apr II - May 12 OBSERVATORY CREDIT MARKETS FUND (THE) 30 Jun 04 M $1'030M 314.71 31 Mar 1.43% 3.70% 7.25% 13.46% -5.02% 12.47% 6.52% (12.74%) Shazad Ghatlar Mar 14 14 Jul 07 -Jul 08 OYSTER CREDIT OPPORTUNITIES FUND CLASS R 31 Jul 09 W C245M 1.158.79 06 May (0.19%) (1.59%) 0.31% 9.99% -1.61% 3.14% 3.31% (6.80%) EUR2 Mar 14 14 May11-Sepll Caim Capital Limited PAMPLONA CREDIT OPPORTUNITIES FUND 31 Aug 08 M C403M 194.54 25 Apr 0.00% 2.99% 12.68% 19.87% -9.26% 12.50% 7.74% (17.90%) Yves Leysen Mar 14 14 April -Dec 11 Ytd Avg. 2014 Credit/Global 3.03% AG MORTGAGE VALUE PARTNERS LTD 30 Apr 09 O $1O52M 233.95 31 Mar 1.10% 3.03% 12.91% 20.59% 7.47% 18.85% 4.31% (L66%) Jonathan Lieberman Dec 13 14 May 13 - Jun 13 ARISTEIA INTERNATIONAL LTD 01 Aug 97 O $2O49M 966.48 30 Apr 0.35% 4.86% 15.67% 11.2% 2.36% 14.50% 8.97% (30.20%) Anthony M. Frascella. William R. Techar Apr 14 14 May 08 - Dec 08 ASGARD FIXED INCOME FUND LTD 30 Jun 03 M C 260M 439.62 02 May (0.05%) 4.62% 16.11% 34.12% 25.31% 14.63% 6.80% (11.54%) Morten Mathiesen Jan 14 14 Aug 08 - Dec 08 AXONIC CREDIT OPPORTUNITIES OVERSEAS 31 Dec 10 O $747M 157.65 30 Apr 1.00% 5.55% 12.1% 25.69% 6.01% 14.64% 4.39% (3.35%) FUND.LTD Mar 14 14 Jul 11 -Oct 11 Clayton DeGiacinto BLUEBAY CREDIT ALPHA LONG SHORT FUND 31 Oct 11 M C213M 133.82 02 May (0.01%) 3.03% 11.78% 26.2% 0.3% 16.24% 4.74% (1.60%) Geraud Charpin Mar 14 14 Jan 13 - Mar 13 BLUECREST MULTI STRATEGY CREDIT FUND 31 Oct 07 O $1047M 170.70 30 Apr 0.45% 5.97% 8.99% 7.23% -1.31% 8.57% 5.99% (7.59%) Mike Platt Dec 12 14 Apr 11 - Jan 12 BLUEMOUNTAIN CREDIT ALTERNATIVES FUND 31 Oct 03 O mom 262.35 30 Apr 0.17% 2.25% 7.87% 14.51% 3.57% 9.62% 6.15% (11.82%) BlueMountain Capital Management Mar 14 14 Aug 08 - Dec 08 BLUEMOUNTAIN LONG SHORT CREDIT FUND LTD 31 Jan 10 M $1100M 1.181.84 30 Apr (0.22%) 1.88% 7.58% 7.84% 3.65% 7.22% 3.43% (3.43%) BlueMountain Capital Management Mar 14 14 Apr II - Sep 11 BREVAN HOWARD CREDIT CATALYSTS FUND LTD 31 Jul 09 M $4798M 181.58 31 Mar 0.55% 3.15% 13.91% 15.34% 1.22% 13.63% 4.26% (5.05%) CLASS A USD Mar 14 14 May 11 - Dec 11 OW Investment Management .LP 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 14 EFTA00602713 Credit Long/Short Inception Liquidity Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Dates Size Index Drawdownl Yid Avg. 2014 Credit/Global 3.03% BREVAN HOWARD CREDIT VALUE FUND LTD 29 Feb 12 HY $745M 152.73 31 Mar 1.04% 3.75% 23.7% 19.01% 22.52% 5.60% (2.00%) DW Investment Management .LP Mar 14 14 May 13 -Jun 13 CANDLEWOOD STRUCTURED CREDIT FUND LTD 31 Dec 10 M $539M 177.30 30 Apr 1.20% 5.20% 12% 20.12% 25.27% 18.76% 3.63% (1.55%) Greg Richter and Brian Herr Mar 14 14 May 13 -Jun 13 CANDLEWOOD STRUCTURED CREDIT HARVEST FD 31 Jul 12 O $223M 134.27 30 Apr 1.50% 6.34% 14.05% 10.71% 18.36% 4.06% (2.20%) LTD - Mar 14 14 May 13 -Jun 13 Greg Richter and Brian Herr CHENAVARI CORPORATE CREDIT STRATEGY M1 30 Sep 08 M $537M 149.44 31 Mar 1.23% 3.26% 13.84% 17.22% 1.29% 14.17% 5.58% (6.82%) Chenavari Investment Managers Feb 14 14 Apr 11 - Aug t 1 COHERENCE CAPITAL SPECTRUM FUND OFFSHORE 31 Jul 12 O $67M 14.04 02 May 0.06% 3.38% 18.98% 14.17% 21.37% 4.57% (1.24%) FUND Mar 14 14 May 13 -Jun 13 Coherence Capital Partners LLC COS ABS FEEDER FUND - CLASS -B1- USD 30 Sep 06 O $1948M 5.276.54 30 Apr 1.40% 4.54% 9.7% 16.85% 0.67% 24.51% 11.53% (3.86%) Simon Finch Apr 14 14 Apr 07 - Jun 07 COS CREDIT LONG SHORT FEEDER FUND LTD - B1 30 Apr 09 M $176M 1.029.54 30 Apr (1.11%) (2.20%) -6.23% -5.28% 7.74% 0.74% 3.89% (13.75%) EUR Feb 14 14 Sep 11 - Apr 14 Simon Finch ELLINGTON CREDIT OPPORTUNITIES FUND LTD 30 Apr 08 O $505M 261.89 30 Apr 0.82% 3.98% 15.28% 27.73% 1.86% 17.40% 5.93% (1.84%) Ellington Management Group. LLC Feb 14 14 AprIl -Jul l1 ELLINGTON MORTGAGE OPPORTUNITIES MASTER 31 Jan 09 O $325M 254.67 30 Apr 0.29% 4.92% 9.64% 13.29% 16.19% 19.50% 3.90% (0.58%) FUND LTD Feb 14 14 Mar 13 - Apr 13 Ellington Management Group. LLC FOC PARTNERS CAPITAL I FUND 31 Jul 02 O $40M 254.83 30 Apr (0.30%) 0.00% 10.77% 7.14% -9.97% 8.28% 7.77% (29.78%) Andrea S. Feingold & R. Ian ClKeeffe Apr 13 14 Jun 07 - Dec 08 GREEN T G2 FUND 28 Feb 99 O $552M 197.38 02 May 0.16% 0.41% 2.66% 2.76% 0.8% 6.50% 3.55% (4.26%) Darryl Green. Geoffrey Sherry Feb 14 14 Dec 03 - Jul 00 III SELECT CREDIT FUND LTD CLASS -A- 31 Dec 07 O $246M 1.914.29 30 Apr 0.25% 2.30% 8.56% 11.95% 7.41% 10.96% 6.65% (8.44%) Lester Coyle Mar 14 14 Aug 08 - Nov 08 KINGDON CREDIT LTD AM 30 Sep 09 O $293M 1.640.04 02 May 0.33% 3.53% 15.67% 8.3% 1.64% 11.55% 5.32% (6.34%) Michael Pohly Apr 14 14 Mayit-Sepii LOOMIS SAYLES CREDIT LONG SHORT FUND 31 Aug 07 O $617M 178.04 25 Apr 0.06% 1.27% 4.76% 12.48% -0.76% 9.05% 6.60% (9.90%) Kevin Kearns and Tom Stolberg Dec 13 14 Jun 08 - Sep 08 LUCIDUS CAPITAL G4 FUND 28 Feb 11 O $580M 112.61 02 May 0.37% 0.85% 5.01% 5.23% 1.04% 3.81% 3.34% (1.97%) Darryl Green. Geoffrey Sherry Feb 14 14 Feb 11 - Jun 11 MACQUARIE CREDIT NEXUS FUND LTD 30 Sep 08 O $632M 1.264.03 31 Mar 0.49% 4.53% 8.44% 15.98% 1.85% 15.23% 5.13% (3.28%) Macquarie Crock Investment Management Inc. Mar 14 14 May It - Oct 11 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 15 EFTA00602714 Credit Long/Short Credit/Global Inception Liquidity Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann Return Ann. Vol Max Dates Size Index Drawdownl Yid Avg. 2014 3.03% MKP CREDIT OFFSHORE FUND 28 Feb 99 O $1'622M 539.60 30 Apr 0.94% 3.67% 11.22% 19.59% -5.11% 11.75% 5.47% (8.94%) MKP Capital Management. L.L.C. Mar 14 14 Feb 11 -Oa 11 MLIS - BEACH POINT DIVERSIFIED CREDIT UCITS 31 Mar 13 W $84M 110.78 06 May (0.13%) 1.39% 9.26% 9.77% 3.64% (1.01%) FUND CLASS B USD Jan 14 14 May 13 - Jun 13 Carl Goldsmith and Scott Klein PALOMINO FUND LTD CLASS B ORIGINAL SERIES 31 Dec 94 Y mum 9.426.68 31 Mar (0.55%) 1.26% 42.36% 29.29% -3.53% 26.62% 20.06% (49.05%) David Tepper Dec 13 14 Feb 98 - See 98 PIMCO GLOBAL CREDIT OPPORTUNITY FUND 30 Jun 06 O $1'612M 174.60 31 Mar (0.29%) 2.42% 7.45% 15.18% 6.24% 7.45% 5.15% (12.86%) SERIES 1 Mar 14 14 Jun07 - akar 08 Dan lvascyn /Jon Home PINE RIVER CREDIT RELATIVE VALUE FUND 31 Dec 06 O $119M 217.52 30 Apr (0.48%) 3.17% 12.84% 14.26% 5.8% 11.18% 8.11% (12.14%) Mike O'Connell Apr 14 14 Dec 07 - Dec 08 PINE RIVER FIXED INCOME FUND LTD 31 Aug 08 O $3'476M 495.53 30 Apr 0.01% 3.62% 10.18% 34.85% 4.77% 32.64% 9.66% (8.83%) Steve Kuhn. Colin Teichholtz May 14 14 Jul 11 -Oct It PROSIRIS GLOBAL OPPORTUNITIES FUND 30 Jun 11 O $1'089M 166.59 31 Mar 0.27% 3.31% 16.35% 22.49% 13.15% 20.36% 4.25% 0.00% Reza Ali Mar 14 14 Jan 00 -Jan 00 SABA CAPITAL OFFSHORE FUND LTD 31 Jul 09 O $2218M 117.70 25 Apr 0.18% 0.37% -6.76% -3.87% 9.33% 3.50% 5.70% (12.48%) Boaz Weinstein Mar 14 14 Jun 12 - Dec 13 SPF CREDIT SUISSE SECURITIZED PRODUCTS 31 Dec 11 O $1'824M 142.79 31 Mar 1.28% 3.87% 18.04% 16.46% 17.16% 3.32% (0.57%) MASTER FUND LTD Mar 14 14 May 13 - Jun 13 Albert Sohn TIG SECURITIZED ASSET FUND LTD 30 Sep 12 M $415M 132.20 30 Apr 0.00% 4.55% 20.05% 5.33% 19.31% 3.16% (0.11%) Stuart Lippman. David Liu Mar 14 14 May 13 - Jun 13 TRICADIA CREDIT STRATEGIES. LTD 31 Mar 05 O $21 35M 353.33 30 Apr 0.10% 2.36% 10.57% 12.73% -0.81% 14.90% 7.39% (10.77%) Aril lnayatullah 8 Michael Barnes Mar 14 14 Jun08 - rtiv 08 VARDEN PACIFIC OPPORTUNITY OFFSHORE FUND I 31 Mar 11 O $48M 127.81 31 Mar 1.46% 1.66% 15.14% 28.54% •15.05% 8.51% 13.32% (18.02%) LTD Mar 14 14 Mar 11 - See 11 Varden Pacific LLC Yid Avg. 2014 Credit/USA 3.13% 400 CAPITAL CREDIT OPPORTUNITIES 31 Jan 09 O $681M 261.07 31 Mar 1.04% 3.26% 15.24% 34.21% 3.07% 20.42% 6.15% (2.91%) Chris Hentemann Feb 14 14 May 11 - Oct li ACUITY CORPORATE OPPORTUNITY FUND LTD 31 Dec 09 M $180M 152.24 30 Apr (0.13%) 0.22% 8.61% 11.14% 1.2% 10.19% 4.12% (3.23%) John Harnisch Apr 14 14 Jul 11 - Nov It BEACH POINT TOTAL RETURN OFFSHORE FUND II. 30 Jun 96 O $2200M 641.53 30 Apr 0.53% 2.25% 12.36% 13.86% -0.98% 10.98% 8.10% (24.04%) LTD Mar 14 14 Oct 07 - Dec 08 Carl Goldsmith. Scott Klein. 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 16 EFTA00602715 Credit Long/Short Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max , Drawdown ' Ytd Avg. 2014 CreditiUSA 3.13% BRIGADE LEVERAGED CAPITAL STRUCTURES FUND 31 Dec 06 0 $4'867M 1.620.30 30 Apr 0.41% 2.10% 5.95% 6.7% 2.45% 6.80% 6.45% (19.42%) Don Morgan Apr 14 14 Jun Oa . Dec 08 MARINUS OPPORTUNITIES FUND (PROFORMA) 31 Dec 09 0 $319M 159.11 05 May 0.07% 1.99% 6.12% 14.54% 6% 11.28% 2.72% (0.99%) Najib Canaan Mar 14 14 May 13. Jun I3 MIDOCEAN ABSOLUTE RETURN CREDIT FUND 31 Jan 10 M $303M 146.24 30 Apr 0.97% 3.41% 7.66% 10.87% 9.99% 9.36% 3.52% (3.26%) MidOcean Credit Fund Management LP Feb 14 14 Jul 11 - Sep 11 MIDOCEAN CREDIT OPPORTUNITY FUND CLASS B 31 Mar 09 0 $704M 223.79 31 Mar 1.21% 3.36% 10.07% 10.78% 7.46% 17.47% 6.54% (2.69%) Mio'Ocean Credit Fund Management LP Feb 14 14 Jul 11 - Aug 11 OCP DEBT OPPORTUNITY INTERNATIONAL LTD 30 Jun 01 0 $344M 290.00 30 Apr 0.90% 4.76% 9.93% 9.21% -1.39% 8.64% 6.37% (24.14%) Onex Credit Partners Dec 13 14 Jun 07 • Dec 08 OCTAGON HIGH INCOME FUND 31 Jan 11 M $161M 132.05 30 Apr 0.27% 2.27% 9.04% 19.9% -1.24% 8.94% 7.73% (10.79%) Andrew D. Gordon. Nov 13 14 Jul 11 - Aug 11 ONE WILLIAM STREET CAPITAL FUND 31 Mar 08 '1 / 0 $1'181M 1.837.38 30 Apr 0.85% 3.87% 5.75% 18.98% -4.19% 10.51% 5.87% (8.43%) OWS Capital Management May 14 14 Feb 11 • Nov 11 RAVEN ROCK CREDIT OFFSHORE FUND LTD 31 Aug 09 M $127M 166.77 31 Mar 0.36% 3.42% 5.8% 8.46% 6.53% 11.80% 5.01% (3.76%) Nate Brown. Guy Caplan. Bobby Richardson Mar 14 14 Jul 11 - Sep II TILDEN PARK OFFSHORE INVESTMENT FUND LTD 31 Dec 10 0 $1'853M 199.24 31 Mar 3.52% 6.62% 20.12% 41.34% 10.07% 23.63% 5.35% (0.90%) Josh Birnbaum Mar 14 14 Sep 11 - Oct 'it 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 17 EFTA00602716 Distressed Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdown Distressed Security Ytd Avg. 2014 4.54% Ytd Avg. 2014 Distressed Security/Europe 3.56% KING STREET EUROPE LTD CLASS A 30 Jun 07 O $1100M 177.29 30 Apr 0.63% 3.56% 12.53% 10.98% .4.82% 8.73% 6.41% (8.56%) 0. Francis Biondi. Jr.. Brian J. Higgins Mar 14 14 May 11 - Nov II Ytd Avg. 2014 Distressed Security/Global 4.75% CANDLEWOOD SPECIAL SITUATIONS FUND LTD 30 Apt 03 O $980M 832.79 30 Apr 1.10% 5.92% 12.53% 14.78% 3.88% 21.23% 11.15% (28.11%) Michael Lau and David Koenig Mar 14 14 May 08 - Nov 08 CANYON VALUE REALIZATION FD. LTD - CLASS A 31 Dec 94 O $6'448M 7.731.16 30 Apr 0.46% 3.09% 15.65% 18.05% .4.66% 11.15% 8.35% (28.82%) M.R. Julis & J.S. Friedman Mar 14 14 Oct 07 - Nov 08 CERBERUS INTL. LTD CLASS A AC 191 31 May 93 O $970M 888.712.26 30 Apr 0.14% 1.07% 14.1% 12.05% 9.6% 11.00% 5.75% (22.26%) Steve Feinberg Feb 14 14 May 08 - Feb09 CONTRARIAN CAPITAL FUND I OFFSHORE LTD 30 Sep 86 Y $2866M 2.704.32 30 Apr 0.47% 4.34% 17.01% 24.31% -1.32% 12.69% 9.61% (3122%) Jon Bauer Mar 14 14 Jun 07 - Feb09 DAVIDSON KEMPNER DIST. OPP. INT. LTD - CLASS C 31 Mar 05 Y $941M 2.743.44 30 Apr 0.22% 6.32% 21.95% 13.51% -2.45% 11.75% 9.99% (26.27%) TRN 1 - Dec 13 14 Oct 07 - Nov 08 Anthony A. Yosefott Avi Z. Friedman and Caner Bastabla KING STREET CAPITAL. LTD 31 Dec 96 O $12200M 622.29 30 Apr 0.94% 3.60% 11.63% 12.54% -1.62% 11.12% 4.03% (5.21%) 0. Francis Biondi Jr & Brian J. Higgins Mar 14 14 May 11 - Nov 11 LC CAPITAL OFFSHORE FUND. LTD 30 Sep 99 Steven G Lampe & Richard F Conway Y ( O $110M dec 13 366.75 31 Mar 14 (0.37%) 6.61% -7.55% 9.61% 0.25% 9.37% 8.79% (34.48%) Jun 07 - Feb09 MONARCH DEBT RECOVERY FUND LTD 31 Mar 02 Y $1295M 3.970.16 31 Mar 1.59% 3.32% 18.06% 12.08% .0.45% 12.17% 7.96% (33.02%) Michael Weinstock. Andrew Herenstein Jan 14 14 Oct 07 - Dec 08 MUDRICK DISTRESSED OPPORTUNITY FUND LTD 30 Jun 09 O $450M 179.66 02 May (0.10%) 10.81% 7.73% 21.85% -3.72% 12.87% 6.09% (8.55%) Jason Mudrick Mar 14 14 Marll•Sepll OWS CREDIT OPPORTUNITY FUND 31 Dec 10 WO $395M 1.427.22 30 Apr 0.85% 5.41% 12.47% 23.41% .2.46% 11.27% 4.91% (7.86%) OWS Capital Management Mar 14 14 April-OG.111 PAULSON CREDIT OPPORTUNITIES LTD 30 Jun 06 Y $1394M 1.785.88 30 Apr (0.02%) 539% 21.8% 8.87% •18.24% 44.45% 40.89% (24.80%) John Paulson Feb 14 14 Aprll - 5ep 11 SILVER POINT CAPITAL OFFSHORE LTD 31 Dec 01 O $5111M 4.548.05 30 Apr 0.04% 3.40% 16.11% 20.04% 4.52% 13.06% 8.32% (35.48%) Edward Mutt* Jun 13 14 Jun07 - Dec 08 STONE LION FUND LTD CLASS A 31 Oct 08 O $720M 2.351.01 06 May (0.17%) 3.01% 16.52% 11.31% 0.05% 16.77% 8.27% (8.74%) Greg Hanley and Alan Mintz Apr 14 14 April-58FM STRATEGIC VALUE RESTRUCTURING FUND 31 Aug 02 O(Y $1'159M 355.95 30 Apr 1.04% 5.90% 16.17% 13.18% •11.03% 11.49% 7.56% (24.47%) Victor Khosla Dec 12 14 May 07 - Jan 09 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 18 EFTA00602717 Distressed Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Ytd Avg. 2014 Distressed Security/Global 4.75% VR GLOBAL OFFSHORE FUND LTD 30 Apr 99 0 $1'733M 36.940.78 31 Mar 2.61% 2.67% 32.33% 20.69% 3.58% 27.35% 15.06% (48.38%) Richard De& Mar 14 14 May 08 - Mar 09 Ytd Avg. 2014 Distressed Security/USA 3.48% HALCYON OFF. ASSET•BACKED VALUE FUND LTD 30 Nov 05 0 $2'377M 2,823.40 30 Apr 1.08% 3.38% 6.66% 16.14% 4.12% 13.12% 5.46% (13.32%) Joseph Wolnick ,Joseph Godley and Jim Coppola Mar 14 14 Aug 08 - Mar 09 REDWOOD OFFSHORE FUND 31 Jul 00 Y $3'143M 735.39 30 Apr 0.70% 3.58% 17.62% 21.94% -1.98% 15.61% 10.74% (36.28%) Jonathan Kolatch Mar 14 14 May 07 - Dec 08 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source HSBC HSBC Alternative Investment Group 10 EFTA00602718 Equity Long/Short Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Equity-Commodity Ytd Avg. 2014 1.08% Ytd Avg. 2014 Equity-Commodity/Global 1.08% OCEANIC HEDGE FUND CLASS A 31 Jul 02 M $843M 1633.91 02 May 0.62% 1.64% 232% -7.73% 5.24% 11.59% 8.19% (12.78%) Cato Brande. Andreas Vergouis. Bjorn Rise Sep 13 14 Nov 11 Jul 12 VAN ECK HARD ASSETS 2X FUND LTD 31 Dec 04 M $19M 189.71 31 Mar (2.37%) 0.52% -1.05% 11.04% •13.4% 7.17% 10.62% (22.23%) Shawn Reynolds and Charles Cameron Apr 13 14 Jun 08 Nov 08 Equity-Diversified Ytd Avg. 2014 (1.58%) Ytd Avg. 2014 Equity-Diversified/Asia (3.80%) AJIA-LIGHTHORSE CHINA GROWTH FUND LTD 31 Dec 05 M $137M 353.93 31 Mar (6.07%) (4.39%) 15.85% -14.51% -12.64% 16.55% 2159% (41.06%) Shawn Kang Feb 14 14 Feb 08 - Dec 08 CC ASIA ABSOLUTE RETURN FUND 30 Jun 05 M $431M 203.91 30 Apr (4.53%) (15.94%) 9.37% -2.03% 9.08% 8.40% 14/8% (27.12%) Richard Cardiff. Angus Coupland Jan 14 14 Dec 07 - Dec 08 CHILTON CHINA OPPORTUNITIES FUND LTD 31 Dec 06 O $26M 190.14 30 Apr (2.26%) (9.10%) 18.33% 6.63% -23.21% 9.16% 16.88% (26.16%) Kenneth Chiang Mar 13 14 Oct 10 - Aug 12 GOLDEN CHINA FUND NR CLASS 30 Jun 04 M $976M 134.28 02 May 0.35% (0.78%) 17.48% 26.91% -3.9% 26.87% 24.79% (64.64%) George Jiang. Feb 14 14 Oct 07 - Nov 08 HT ASIAN CATALYST FUND LLC 31 Dec 98 M $107M 19.30 30 Apr (0.77%) (3.64%) 5.42% 9.51% -10.29% 10.01% 11.37% (23.93%) Ms. Ophelia Tong Apr 14 14 Mar 00 - Mar 01 KIMA PAN ASIA OFFSHORE FUND CLASS -A- 30 Jun 09 M $23M 1.278.35 31 Mar (0.51%) (0.36%) 9.63% -1.58% -5.39% 5.30% 7.91% (17.30%) Justin Klintberg. David Nesbitt Sep 13 14 May lt - Aug 12 NEZU CYCLICALS FUND LTD 31 Jul 05 O $187M 238.63 02 May 1.22% 2.62% 27.39% -6.58% -5.09% 10.44% 12.66% (25.06%) Fuyuki Fujiwara Mar 14 14 Oct 07 - Feb 09 OCTAGON PAN ASIA FUND 30 Sep 04 M $136M 209.69 31 Mar (0.61%) (3.95%) 4.6% 11.8% -6.07% 8.10% 8.78% (10.69%) Poh Min Lam 8 Nelson Chia Mar 14 14 Oct 07 - Jan 09 PINPOINT CHINA FUND CLASS A USD 31 May 05 M $533M 719.99 30 Apr (0.96%) (2.96%) 9.26% 8.06% 0.6% 24.76% 20.49% (42.16%) Clang Wang Feb 14 14 Oct 07 - Nov 08 REAL RETURN ASIAN FUND LTD (THE) 30 Sep 04 M $484M 273.06 30 Apr (2.49%) (338%) 13.35% 9.02% -9.19% 11.05% 9.89% (15.09%) Ezra Sun Mar 14 14 Apr 11 - May 12 TELLIGENT GREATER CHINA FUND 31 Jul 04 M $301M 376.44 31 Mar (5.21%) (1.71%) 28.57% 10.76% -17.35% 14.69% 18.55% (46.90%) Ching-Shan Lin Apr 14 14 Oct 07 - Oct 08 WF ASIA FUND LTD Srl 31 Jan 01 M $429M 409.40 02 May 0.74% 1.99% 11.72% 27.68% -7.21% 11.22% 13.05% (37.65%) Stable Ward Mar 14 14 Oct 07 - Nov 08 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 20 EFTA00602719 Equity Long/Short Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Ytd Avg. 2014 Equity-DiversifieWAsia (3.80%) ZEAL CHINA FUND LIMITED 31 Dec 09 M $656M 137.09 02 May 1.40% (7.54%) 5.55% 12.9% 6.18% 7.54% 14.29% (13.00%) Daniel POON Chun Pong Jan 14 14 Dec 09 Feb 10 Ytd Avg. 2014 Equity-Diversified/Brazil 0.33% BNY MELLON ARX BRAZIL FUND SPC LONG SHORT 31 Jan 07 M 555M 1.751.09 02 May 0.67% 0.33% 5.22% 11.03% 3.58% 8.03% 8.74% (23.95%) Bruno Garcia. Frederico Saraiva & Rogerio Poppe Dec 13 14 Jun 08. Oct 08 Ytd Avg. 2014 Equity-DiversifiedrEmerging (4.98%) ADELPHI EMERGING EUROPE. FUND USD SHARES 31 Mar 07 O $170M 143.06 30 Apr (3.32%) (9.86%) 20.69% -2.13% -15.92% 5.18% 13.50% (28.62%) Lars Dollmann Feb 13 14 May 08 Jan 09 ARMAJARO EMERGING MARKETS FUND CLASS -A- 31 Jul 09 M $29M 130.47 02 May 0.47% (3.26%) 8.23% 17.35% -22.31% 5.75% 14.11% (28.30%) Michel Dansen' Mar 14 14 Apr11 - Dec 11 FIREBIRD NEW RUSSIA FUND. LTD CLASS A 30 Jun 96 O $150M 2.112.66 30 Apr (2.79%) (14.28%) 4.08% 11.42% -14.62% 18.64% 39.26% (81.79%) Harvey Sawikin & Ian Hague Mar 14 14 Mar 98 Sep 98 FIREBIRD REPUBLICS FUND. LTD 30 Apr 97 O $180M 1.086.95 30 Apr (0.15%) (5.62%) 24.05% 13.26% -19.42% 15.06% 30.19% (73.20%) Harvey Sawikin & Ian Hague Mar 14 14 Sep 97 Jan 99 GROWTH MANAGEMENT LTD 31 May 98 M SI59M 352.39 31 Mar (0.33%) (4.84%) 7.2% -6.37% -6.15% 8.27% 7.21% (33.23%) Stephan Pinter Sep 13 14 Jun 08 - Jul 12 JABCAP EMEA FUND CLASS XI 30 Sep 08 M $184M 231.12 14 Apr (1.21%) 2.92% 9.23% 6.94% .3.2% 16.32% 10.19% (10.02%) Carl Tohme Mar 14 14 Apr II -May 12 KALTCHUGA FUND - RUSSIA EO. SUB-FUND -5- 15 Nov 00 BM $59M 6.944.03 30 Apr (4.01%) (19.13%) 7.78% 12.91% -20.88% 15.48% 33.83% (81.80%) J-L. Tauvy Jim 13 14 Dec 07 Jan 09 MONTLAKE SKYLINE UCITS FUND INSTITUTIONAL 31 Jul 11 D 5152M 137.98 29 Apr (0.03%) (3.17%) 10.01% 25% 3.62% 12.43% 11.58% (9.65%) SHARE CLASS Jan 14 14 Oct 13 Jan 14 Geoll *Sambal. David Tovar. OCCO EASTERN EUROPEAN FUND A SHARES 31 Dec 01 '1 I O $677M 389.25 30 Apr 0.17% (1.68%) 11.63% 7.73% 5.42% 12.71% 7.63% (20.86%) Pawef Szulc & Andrew Mes Apr 14 14 Jun 08. 0c108 POLLUX BRAZILIAN EOUITIES FUND 31 Oct 07 M $46M 145.96 30 Apr 1.77% (2.27%) -3.41% 13.12% 0.39% 5.99% 7.93% (9.59%) Rodrigo Fonseca Jun 13 14 May 08 - Oct 08 SAGIL LATIN AMERICAN OPPORTUNITIES FUND 30 Jun 09 M 555M 141.02 18 Apr 2.67% 4.09% 7.75% 14.46% -9.01% 7.42% 8.17% (12.35%) CLASS A Mar 14 14 Oct 10 - Sep II Adrian Landgrebe and Brad Jones SR GLOBAL FUND INC - G GLOBAL OPPORTUNITIES 29 Feb 96 M $460M 1.294.22 05 May 0.50% (3.45%) 18.09% -0.88% -17.2% 18.60% 17.87% (37.25%) PTF (Real PerQ Jan 14 14 Oei Feb 09 Richard Chenevix-Trench SR PHOENICIA INC CLASS -A- SERIES 1 31 Jul 01 M $140M 464.42 05 May 0.83% (4.22%) 20.89% 8.13% -20.97% 12.78% 18.08% (56.02%) Richard Athenon Jan 14 14 Octet Feb 09 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group 1 21 Source - HSBC EFTA00602720 Equity Long/Short Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Ytd Avg. 2014 Equity-Diversified/Europe (0.07%) ADELPHI EUR. FUND $ (A) 30 Sep 97 O $1'139M 470.19 30 Apr (2.00%) (0.56%) 17.28% 14.08% .4.91% 9.78% 11.68% (26.28%) Roderick Jack. Marcel Jongen Feb 13 14 May 07 - Feb 09 ADRIGO HEDGE 30 Nov 06 M $211M 166.54 30 Apr 0.16% 4.16% 12.83% 5.91% .0.17% 7.12% 5.31% (9.13%) Göran Tome° Apr 14 14 May 07 - Oct 08 ANTARES EUROPEAN FUND. LTD - USD 08 Dec 98 M $750M 574.71 02 May 0.33% 4.70% 28.79% 1.7% •10.75% 12.02% 15.13% (32.68%) Peter Miles Testa. Luca Orsini Baroni Dec 13 14 Jun 07 - Dec 08 AQUILUS INFLECTION FUND LTD EUR SHS 31 Jul 07 M €296M 128.58 30 Apr (0.75%) 1.18% 14.59% 18.73% -14.14% 3.79% 8.96% (22.46%) Richard Vogel Mar 14 14 Oct 07 - Oct 08 CAPEVIEW AZRI 2X FUND 30 Sep 10 M $215M 155.58 30 Apr (2.54%) (0.35%) 24.8% 12.65% 4.31% 13.12% 6.32% (4.69%) Michael Sakkas and Sushi? Shah Jan 14 14 Feb 14 - Apr 14 CAPEVIEW AZRI FUND 31 Oct 07 M $300M 170.28 30 Apr (1.34%) (0.21%) 11.51% 5.82% 1.29% 8.53% 3.63% (2.41%) Michael Sakkas and Sushi? Shah Jan 13 14 Feb 14 - Apr 10 GLG EUROPEAN LONG SHORT FUND CL-D- Inst 30 Sep 00 M $982M 318.61 02 May 0.33% (4.32%) 7.09% 5.75% 7% 8.90% 8.14% (17.94%) Pierre Lagrange. Simon Savage. Dairen Hodges Apr 14 14 Oct 07 - Oct 08 JPMORGAN PORT. STRAT. FUNDS-EUROPE 30 Sep 03 M $507M 420.98 02 May (0.02%) (0.75%) 15.93% -4.72% 10.2% 14.53% 8.57% (16.39%) DYNAMIC US FUND-A10.03 Jan 14 14 Jun 08 - Nov 09 Jonathan Ingram. John Baker. Anis Lahlou.Abid LANSDOWNE EUROPEAN EQUITY FD, LTD - A (EUR) 31 Aug 98 M $397M 211.47 30 Apr (5.26%) (1.58%) 21.51% 4.56% -12.68% 9.48% 11.72% (21.60%) Alex Snow & S. Heinz Jan 14 14 May 08 - Feb 09 LC EQUITY FUND LTD 30 Sep 05 M CHF121M 281.65 30 Apr 0.31% 3.06% 5.27% 2.04% 0.83% 12.82% 6.03% (5.29%) Limmat Capital Alternative Investments AG Apr 14 14 Jun II - Aug 11 LUCERNE CAPITAL OFFSHORE FUND LTD 30 Apt 03 M $84M 451.50 31 Mar 2.71% 5.41% 28.69% 26.52% -19.79% 14.79% 21.94% (58.36%) Pieter Tasefaar. Thijs Hovers Mar 14 14 May 07 - Feb 09 MADRAGUE EQUITY LONG SHORT 31 Jan 12 $200M 137.07 31 Mar (0.24%) 1.41% 31.03% 3.16% 15.68% 8.79% (8.92%) Madrague Capital Partners Mar 14 14 Jan 12 -Jun 12 MARSHALL WAGE - MW CORE A USD 31 Oct 06 M $206M 143.22 06 May 0.59% 0.94% 7.44% 8.72% 5.65% 4.89% 8.74% (26.47%) Ernesto Fragomeni Jan 14 14 Jun 07 - Sep 08 MARSHALL WAGE - MW EUROPEAN TOPS A EUR 31 Dec 04 M $231M 202.11 06 May 0.04% (0.79%) 16.17% 11.31% 4.29% 7.82% 7.72% (21.75%) Anthony Clake Jan 14 14 Oct 07 - Feb 09 MARTIN CURRIE EUROPEAN HEDGE FUND CLASS 31 Dec 00 M $39M 304.36 30 Apr (2.38%) (0.29%) 21.33% 13.51% .8.53% 7.47"% 7.55% (11.03%) -B- Mar 14 14 Jun 08 - Feb 09 Michael Browne & Steve Frost MBAM ACTIVE ENHANCED 30 Jun 13 M $80M 102.59 30 Apr (4.11%) (1.04%) 3.67% 3.11% 7.36% (4.83%) Hilton Nathanson Mar 14 14 Feb 14 - Apr i4 MLIS - THEOREMA EUROPEAN EQUITY LONG SHORT 31 May 10 D £92M 111.23 06 May (0.19%) (4.33%) 7.94% 4.37% -0.27% 2.74% 7.65% (12.02%) UCITS FUND - EUR 8 (acc) Feb 14 14 Sep 11 - Jul 12 Theorems Asset Management Limited 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 22 EFTA00602721 Equity Long/Short Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Ytd Avg. 2014 Equity-Diversified/Europe (0.07%) MOJNA ALPHA LEVERAGED MASTER FUND - EUR 30 Nov 07 M $254M 163.81 02 May 1.07% (3.80%) 14.82% -4.33% 5.58% 7.98% 6.21% (6.96%) Jakob Nordestedt. Michael O'Mara Nov 13 14 Feb 12 -Jul 12 MOJNA ALPHA MASTER FUND - EUR 31 Dec 02 M $281M 171.89 02 May 0.40% (1S6%) 4.93% -2.69% 1.39% 4.89% 2.65% (3.27%) Jakob Nordestedt. & Michael O'Mara Mar 13 14 Feb 12 -Jul 12 NORDIC ALPHA CLASS B - NOK 31 Aug 03 M NOK770M 231.90 31 Mar (1.05%) 4.61% 23.77% 12.14% -14.91% 8.28% 11.20% (32.36%) Thomas Raaschou. Christian T. Nygaard Mar 14 14 Dec 07 - Feb 09 ODEY EUROPEAN. INC (EUR) 31 May 92 W C1763M 799.48 30 Apr (7.91%) (12.18%) 25.76% 30.69% -20.56% 13.36% 16.15% (50.64%) Crispin Odey Dec 13 14 Jan 91 - Jul 95 PELHAM LONG/SHORT FUND LTD CLASS A EUR 31 Oct 07 M C2601M 192.28 31 Mar (1.80%) 2.78% 32.52% 16.89% -10.68% 10.72% 10.89% (12.25%) Ross Turner Feb 14 14 May 08 - Dec 08 PENSATO EUROPA FUND LTD EURO CLASS 31 May 08 M Cl 29M 129.18 31 Mar (0.79%) (2.75%) 1.99% 11.22% -0.28% 4.48% 5.81% (5.40%) Graham Clapp & Edward Rumble Mar 14 14 Jun 08 - Sep 08 POLAR CAPITAL EUROP CONVICTION FUND LIMITED 31 Mar 06 M E115 M 158.70 02 May (0.13%) (0S1%) 1.9% 8.07% 6.45% 5.87% 8.33% (5.84%) Roben Gurney Mar 14 14 May 11 -Augll RBR EUROPEAN LONG SHORT LTD (Ex Rhine Alpha 30 Apt 05 M $90M 2.894.90 30 Apr (0.25%) 7.45% 20.33% 29.45% •11.71% 12.53% 18.76% (55.01%) Stars) May 13 14 Jun 07 - Nay 08 Rudolf BON RWC SAMSARA FUND CLASS A EURO 17 Sep 07 M $135M 145.34 30 Apr 0.82% 3.29% 17.47% 2.97% -0.85% 5.81% 7.87% (11.60%) Ajay Gambhir Mar 14 14 Jun 11 -May 12 SIERRA EUROPE OFFSHORE. LTD - CLASS C USD 28 Feb 97 M $106M 523.89 02 May 0.40% 0.73% 4.48% 11.82% 4.88% 10.12% 8.87% (16.98%) Charles Michaels Mar 14 14 Mar 00 - Jan 03 SUSA EUROPEAN EQUITIES FUND CLASS A NIE EUR 28 Feb 09 M $192M 180.13 02 May 1.54% 2.69% 17.78% 15.22% -10.33% 12.04% 11.35% (16.04%) Reza ArMii Mar 14 14 May 11 -Sep 11 THEOREMA EUROPE FUND PLUS LTD Bi1 USD 31 Aug 04 M $20M 261.30 02 May 0.34% (4.69%) 11.16% 5.6% -0.29% 10.44% 12.00% (15.14%) G. Goo' DEc 13 14 Sep 11 -Jul 12 THREE BRIDGES EUROPE MASTER FUND 31 Aug 06 M $565M 165.44 30 Apr (2.20%) (4S0%) 26.03% 4.57% -7.58% 6.78% 8.32% (11.88%) Gene Salamon Jan 14 14 Jun 08 - Ocl 08 TT MID-CAP EUROPE LONG/SHORT FUND LTD - CL B 30 Apt 05 M $757M 283.72 30 Apr (2.02%) 2.44% 14.43% 6.9% -1.72% 12.28% 8.69% (7.41%) David Grimbley Mar 14 14 Apr 06 - Sep 06 ZADIG FUND CLASS Al 30 Nov 05 M C297M 224.35 02 May 0.92% (1.82%) 8.9% 11.02% 3.56% 10.07% 11.19% (19.14%) Laurent Saglio Nov 13 14 Aug 08 - Oct 08 Equity-Diversified/Global Ytd (0.64%) 2014 Avg. ANAVON MASTER FUND LTD CLASS -B- 31 Dec 10 M $74M 127.95 30 Apr (1.20%) (3.10%) 11.45% 12.62% 5.19% 7.68% 7.60% (8.57%) Avi %chief and Avraham Mevorah Apr 14 14 Jul 11 -Sep ri ATLAS FUNDAMENTAL TRADING FUND LTD- CLASS A 30 Jun 08 M $89M 1.372.66 30 Apr 2.13% 11.56% 8.31% -3.45% 7.03% 5.58% 8.89% (13.45%) Dmitry Balyasny. Managing Partner & CIO Mar 14 14 Sep 11 Jun 13 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 23 EFTA00602722 Equity Long/Short Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Yid Avg. 2014 Equity-Diversified/Global (0.64%) BEACONLIGHT OFFSHORE FUND LTD 31 Dec 09 O $110M 139.21 31 Mar (0.07%) 3.27% 22.4% 6.8% -5.78% 8.09% 9.10% (15.02%) Ed Bosek Mar 14 14 Mar 11 - Sep it BROOKFIELD GLOBAL LISTED INFRASTRUCTURE 30 Apt 08 M $76M 209.50 30 Apr 1.04% 2A8% 11.13% 16.99% 5.17% 13.11% 13.31% (22.19%) SEC. OFFSHORE FUND Jan 14 14 Apr 08 - Nov 08 Brookfield Investment Management Inc. DUET GLOBAL FUND PLUS 31 Jul 10 M $1'500M 125.38 31 Mar (0.33%) 0.22% 3.95% 11.05% 8.05% 8.01% 3.16% (0.87%) Jason McNab Feb 14 14 Jun II - Aug 11 EXANE TEMPLIERS FUND 28 Feb 06 W Cl 70M 17.471.70 06 May (0.04%) (0.96%) 1.85% 0.77% 0.49% 5.12% 3.10% (2.89%) Jean-Francois Roussel. ~bane Arrouays. Henri-Daniel Mar 14 14 Apr I I - May 12 Samama. Exane Asset Management FARRINGDON ALPHA ONE 31 Dec 06 M $250M 188.31 02 May (0.42%) 5.44% 10.56% 19.44% •12.63% 9.01% 11.43% (16.50%) Bram Comelisse. Andreas Tholstrup. Dennis van Wees Sep 13 14 May 08 - Oct 08 GLADE BROOK GLOBAL OFFSHORE FUND LTD 30 Sep 11 O $376M 1.180.38 30 Apr (5.00%) (6.53%) 19.76% 13.1% -6.77% 6.63% 9.21% (10.26%) CLASS-A- NR- Mar 14 14 Feb14- Apr 14 Paul Hudson HABROK LTD 31 Mar 04 O $134M 279.57 30 Apr (3.33%) (2.34%) 13.15% 6.85% -9.66% 10.73% 14.94% (38.55%) Ketan Gadhia and Rahul Khanna Mar 14 14 May 08 - Jan 09 HORSEMAN GLOBAL FUND USD 31 Jan 01 M $253M 573.04 30 Apr (0.61%) 9.05% 19.15% 16.28% -2.98% 14.08% 16.13% (33.75%) Russell Clark Jan 14 14 Feb 09 - Jun 10 KINSALE COMPASS FUND 31 Oct 11 M €150M 141.56 31 Mar 0.24% 2.92% 15.74% 16.75% 1.79% 15.47% 3.71% (2.10%) Peter A Kinney Mar 14 14 Apr 12 - May 12 LANSDOWNE DEVELOPED MARKET FUND. LTD (GBP) 31 Jul 01 M $8211M 561.60 30 Apr (7.08%) (7.16%) 33.26% 17.87% -20.07% 14.49% 10.96% (20.07%) Alex Snow & S. Heinz Jan 14 14 Dec 10 - Dec II LAZARD GLOBAL HEXAGON FUND 31 May 10 M $297M 123.95 25 Apr (0.72%) (1.60%) 8.98% 13.45% -2.08% 5.38% 4.88% (7.43%) Jean-Daniel Malan Mar 14 14 Mayit-Sepll M. KINGDON OFFSHORE NV - kl 28 Feb 86 O $1'382M 153.33 02 May 0.21% 038% 23.82% 11.78% -18.03% 14.97% 12.69% (30.15%) Mark Kingdon Apr 14 14 Sep 87 - Oct 87 MARSHALL WAGE - MW EUREKA Al EUR 07 Jan 98 M $4348M 385.30 06 May 0.71% (L84%) 21.61% 7.45% 9.74% 13.16% 9.11% (23.24%) Paul Marshall Jan 14 14 Oct 07 - Oct 08 MARSHALL WAGE - MW GLOBAL OPPORTUNITIES A 28 Feb 09 M $1385 M 218.44 06 May 0.29% (2.18%) 13.37% 6.83% 27.16% 16.26% 9.75% (4.94%) USD Jan 14 14 Nov 11- Jan 12 Fehim Sever MAVERICK FUND. LTD - CLASS A/1 28 Feb 95 M $2670M 1.321.95 02 May 1.45% (1.59%) 16.46% 15.46% -14.85% 11.99% 11.50% (30.04%) Lee Ainslie Ill Mar 13 14 May 08 - Nov 08 MS ASCEND UCITS FUND CLASS I EUR 30 Apt 11 W $126M 1.044.53 06 May 0.44% 0.34% 12.16% -0.14% -7.06% 1.45% 4.30% (7.23%) Malcolm Fairbaim Jul 13 14 May l 1 - Dec 12 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 24 EFTA00602723 Equity Long/Short Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Yid Avg. 2014 Equity-Diversified/Global (0.64.m NEVSKY FUND PLC (COMPOSITE) 30 Sep 00 M $999M 1.281.15 17 Apr 0.98% (3.23%) 18.07% 14.61% 0.62% 20.70% 14.20% (22.14%) Mania Taylor and Nick Barnes Apr 13 14 Oct 07 - Feb 09 PASSPORT GLOBAL STRATEGY FUND 31 Jul 00 O $1'500M 1.009.26 30 Apr (3.40%) 0.26% 23.02% 11.08% -18.74% 18.30% 26.37% (52.74%) John Burbank Feb 14 14 Jun 08 - Dec 08 PASSPORT LONG SHORT STRATEGY FUND 30 Jun 10 M $1'073M 141.01 30 Apr (0.90%) (0.24%) 19.89% 12.13% -7.19% 9.37% 8.34% (10.06%) John Burbank. Tim Garry Apr 14 14 Apr11-Dec 11 PASSPORT SPECIAL OPPORTUNITIES FUND LTD 30 Apt 08 H-Y $468M 204.58 30 Apr (5.50%) 6S0% 45.5% -5.67% •19.91% 12.66% 27.19% (43.24%) CLASS AA Apr 14 14 Jun 08 - Nov 08 John Burbank PLATINUM FUND LTD 31 May 94 M $542M 89.94 30 Apr (0.72%) (037%) 21.76% 17.44% -13.51% 11.65% 12.25% (30.48%) Ken* Neilson Mar 14 14 Oct 07 - Feb 09 SR GLOBAL FUND C - INTERNATIONAL (Real Pert) 31 Dec 93 M $570M 500.04 05 May 1.40% (18.41%) 36.28% 1.03% -24.27% 11.43% 21.18% (50.10%) Hugh Sloane Jan 14 14 Apr 08 -Aug 12 STANDARD PACIFIC CAPITAL -B- 30 Sep 95 O $199M 481.68 30 Apr (4.25%) (5A1%) 20.2% -4.66% -5.24% 8.82% 8.19% (15.87%) Doug Dillard and Raj Venkatesan Feb 14 14 Jul 11 - Nov 12 STK CAPITAL GLOBAL EQUITIES 30 Nov 10 M $106M 125.51 30 Apr (0.50%) (3.97%) 16.09% 9.35% •1.64% 6.88% 8.21% (8.80%) Daniel Grozdea Apr 14 14 Apr11-Sep11 Ytd A 2014 Equity-Diversified/Japan (5.22 vg. %) AKAMATSU FUND 31 Dec 04 M $98M 186.49 31 Mar (0.42%) (1.76%) 21.71% -3.45% -0.85% 6.97% 7.11% (12.18%) Philip Kay Mar 14 14 Mar 12 - Oa 12 ALPHAGEN HOKUTO FUND LTD - CLASS A 31 Oct 00 M $345M 202.82 02 May 0.25% (2S6%) 7.4% -1.01% 0.13% 5.37% 4.30% (4.80%) John Stewart & Robert Tull Apr 14 14 May 11 - Aug 12 ALPHAGEN JAPAN ABS RETURN FD. LTD 30 Jun 00 M $358M 264.74 02 May 1.86% (L97%) 26.63% -0.58% -8.58% 7.28% 9.95% (19.05%) William Garnett and Jeremy Hall Apr 14 14 Feb 11 - Aug 12 ARCUS JAPAN FUND -JPY- 31 Mar 99 D $10M 39.138.00 07 May (0.21%) (3.02%) 26.98% 19.15% -4.68% 9.45% 15.24% (45.94%) Robert Macrae Apr 14 14 Feb 07 - Feb 09 MARATHON VERTEX JAPAN FD. LTD CLASS B 31 May 03 O $491M 2.359.69 30 Apr (2.79%) (4.85%) 23.38% 4.89% 0.59% 8.18% 8.38% (11.76%) William Arah Jan 14 14 Jun09 - Oct 10 MARTIN CURRIE ARF - JAPAN FUND 30 Jun 00 M $225M 21.01 30 Apr (0.65%) (7.81%) 28.56% 4.23% -8.4% 5.51% 8.29% (15.76%) John-Paul Temperley Mar 14 14 Apr 10 - May 12 SFP VALUE REALIZATION FUND 31 Oct 03 O $251M 328.02 30 Apr (6.07%) (7.23%) 82.11% 44.54% 7.42% 11.97% 19.80% (55.47%) Greg McEntyre Aug 13 14 Jan 06 - Oct 10 SR GLOBAL FUND H - JAPAN (Real Perf) 30 Sep 03 M $140M 148.03 05 May 1.90% (18.43%) 62.51% 31.05% -8.33% 4.08% 20.78% (35.57%) Hugh Sloane. Alex Kydd Jan 14 14 Mar 08 -Jul 10 UMJ KOTOSHIRO FUND 31 Oct 08 M $120M 177.65 31 Mar 2.26% 1.07% 32.05% 17.83% 12.2% 11.19% 8.14% (9.48%) Masahiro Koshiba Mar 14 14 Jul 09 - Sep 10 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source HSBC HSBC Alternative Investment Group I 25 EFTA00602724 Equity Long/Short Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Yid Avg. 2014 Equity-Diversified/UK (2.05%) ALPHAGEN OCTANIS CLASS A 28 Feb 05 M $1'955M 237.39 02 May 0.26t 0.02% 16.77% 3.87% -0.47% 9.88% 6.19% (10.72%) Ben Wallace & Luke Newman Apr 14 14 May 07 - Mar 08 BLACKROCK UK EQUITY HEDGE FUND 30 Apt 05 M $412M 196.02 30 Apr (1.15%) (0.74%) 6.42% 4.27% 2.48% 7.76% 5.82% (11.70%) Nigel Ridge & lmran Salta Mar 14 14 Jun 08. Oct 08 PEGASUS FUND LIMITED SHARES A-1 31 Oct 97 M $135M 64.36 02 May 1.98% (5.43%) 63.74% 1.06% -1.11% 11.99% 15.51% (35.27%) David Yarrow. Angus Donaldson Jan 14 14 May 98 - Oct 98 Ytd Avg. 2014 Equity-Diversified/USA (0.23%) MR INTERNATIONAL (BVI). INC. All 31 Jan 93 M $521M 1.281.26 02 May (0.09%) 6.14% 20.33% 3.85% -6% 12.74% 19.01% (44.44%) Alexander J. Roepers Dec 12 14 May 08 - Dec 08 ALLIANCE BERNSTEIN SELECT US EQUITY LONG 30 Nov 99 Y r Q $147M 4.427.37 06 May (0.29%) (0.48%) 16.27% 6.17% 0.81% 10.85% 7.17% (9.98%) SHORT Mar 14 14 May 08 Feb 09 Kurt Feuerman ALYDAR FUND LTD 28 Feb 03 O $361M 214.67 30 Apr (2.80%) (2.56%) 15.85% -1.07% -0.68% 7.07% 4.83% (6.49%) John Murphy Dec 12 14 Jun 11 May 12 ALYSHEBA FUND LIMITED 31 Mar 05 O $201M 2.682.01 30 Apr (2.40%) (5.99%) 15.13% 2.83% 2.51% 11.47% 12.74% (25.80%) John A. Murphy. Philip C. Furse Dec 13 14 May 08 - Nov 08 ASCEND PARTNERS FUND II LTD A 31 Jan 04 O $487M 198.96 02 May 0.59% 1.15% 11.59% 3.48% -2.86% 6.94% 4.37% (5.23%) Malcolm Fairbaim Dec 13 14 April - Dec 11 BAY RESOURCES PARTNERS OFFSHORE FUND 31 Jul 98 M $2748M 10.422.97 30 Apr 1.60% 1.40% 22.23% 9.24% -6.89% 16.04% 16.11% (39.02%) Thomas Claugus Feb 14 14 May 08 Feb 09 BCM WESTON LP (BILLINGS CAPITAL MANAGEMENT) 31 Jan 08 M $56M 226.38 31 Mar 2.67% (2.37%) 50.32% 15.2% -8.95% 14.17% 10.71% (13.70%) Billings Capital Management LLC Mar 14 14 Mar 11 Sep 11 CASTLEROCK FUND LTD 31 Aug 96 $108M 699.43 31 Mar (1.15%) (3.65%) 12.73% -3.82% -23.84% 11.69% 16.82% (37.70%) Paul Tanico Jan 13 14 May 01 Feb 03 COBALT OFFSHORE LTD 31 Dec 96 O $683M 780.27 30 Apr (0.42%) 1.72% 8.88% 4.49% -0.66% 12.58% 8.07% (19.53%) Wayne Cooperman Dec 13 14 Apr 98- Sep 98 ELM RIDGE CAPITAL PARTNERS L.P. 31 Dec 99 O $613M 543.89 30 Apr (0.60%) 2.17% 22.28% -14.08% 0.7% 12.54% 13.02% (19A1%) Ronald Guttleish Jan 14 14 Apr 10 - Nov 12 EMINENCE FUND LTD A INITIAL SERIES 31 Dec 98 O $3967M 689.89 02 May 0.60% 3.10% 14.6% 23.83% 1.29% 13.41% 9.56% (19.99%) Ricky C. Sandler Apr 14 14 Dec 07- Dec08 GLENVIEW CAPITAL PARTNERS (CAYMAN). LTD. 31 Dec 00 $3'666M 642.41 30 Apr (1.62%) 1.30% 42.9% 24.24% -10.95% 14.97% 16.28% (49.17%) Lawrence M. Robbins Feb 14 14 May 07 - Dec08 HIGHBRIDGE LONG/SHORT EQUITY FUND. LTD 30 Apt 04 $430M 2.239.41 31 Mar (1.33%) 1.53% 14.81% 11.02% -12.64% 8.46% 10.03% (21.12%) Alex McAree Oct 13 14 Mar 11 Sep 11 INVICTA OFFSHORE FUND LTD 31 Dec 09 M $87M 164.08 31 Mar (2.43%) (4.20%) 18.27% -3.28% 10.18% 12.36% 10.20% (10.11%) James Alpha LLC Feb 14 14 Mar 12 Apr 13 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 26 EFTA00602725 Equity Long/Short Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Ytd Avg. 2014 Equity-Diversified/USA (0.23%) IVORY CAPITAL FLAGSHIP STRATEGY 30 Nov 98 M $1'017M 4,274.33 30 Apr (1.26%) 2.33% 17.07% 10.5% -3.54% 9.88% 5.99% (12.61%) Curtis Macnguyen Mar 14 14 May 08 - Nov 08 IVORY OPTIMAL FUND LTD 30 Apr 05 O $11083M 245.41 30 Apr (1.83%) 3.90% 28.28% 16.41% -4.37% 10.48% 10.77% (24.93%) Curtis Macnguyen Mar 14 14 May 08 - Dec 08 KINETICS FUND, INC - NA 31 Jan 01 M $190M 3,393.73 30 Apr (1.34%) (1.95%) 39.74% 27A2% -14.83% 9.66% 22.13% (76.20%) Peter B. Doyle Apr 14 14 Oct 07 - Feb 09 MADISON STREET FUND L.P. 31 Jan 04 M $39M 2,938.96 31 Mar (1.64%) 0.42% 26.78% 5.79% -3.04% 11.18% 7.07% (9.59%) Steven C. Owsley & Drew M. Hayworth Dec 13 14 Apr11 -Sep 11 OMEGA OVERSEAS PARTNERS, LTD CLASS A 31 Dec 91 M $2'382M 969.28 30 Apr 0.13% 1.05% 30.02% 25.66% -2.97% 10.70% 14.62% (42.55%) Leon Cooperman Jan 14 14 May 07 - Feb 09 RENAISSANCE INSTITUTIONAL EQUITIES LP (B) 31 Jul 05 M $1'680M 191.28 30 Apr (0.07%) 0.51% 16.78% 8.29% 34.12% 7.69% 10.37% (35.73%) Renaissance Technologies LW Feb 14 14 May 07 - Apr 09 RWC US ABSOLUTE ALPHA FUND • CLASS B 30 Sep 09 D $127M 127.10 05 May 0.32% 0.48% 14.28% 16.32% -2.25% 5.36% 5.75% (9J9%) Mike Correll Oct 13 14 Apr 10 - Dec it SAB OVERSEAS FUND LTD 31 Jul 00 3O1O $320M 462.69 30 Apr (0.90%) (4.98%) 23.57% 21.5% -0.71% 11.78% 11.26% (17.57%) Scat Sommer Dec 12 14 Mar 10 -Aug 10 SEMINOLE OFFSHORE FUND 31 May 98 O $1'308M 754.10 02 May 0.20% 3.2t% 23.18% 5.08% -0.7% 13.52% 12.49% (15.62%) Michael G. Messner. Paul C. Shiverick Mar 14 14 May 02 - Mar 03 ZWEIG-DIMENNA INTL LIMITED • CLASS A 31 May 87 O $1'327M 92,715.54 30 Apr (3.04%) (9.81%) 21.25% -1.18% -2.37% 14.25% 15.10% (50.23%) Joseph DiMenna /Manln Zweig Jan 14 14 Feb 00 - Dec 02 Equity-Energy Ytd Avg. 2014 12.67% Ytd Avg. 2014 Equity-Energy/USA 12.67% DORSET ENERGY FUND, LTD • CLASS A 31 Oct 00 M $275M 62.66 30 Apr 5.37% 12.67% 29.76% -6.43% -1.27% 14.56% 21.02% (49.55%) David M. Knott, Donald Tenor Mar 14 14 Jun 08 - Dec08 Equity-Financial Ytd Avg. 2014 (4.58%) Equity-Financiali A . 20 Ytd Global (4. vg 58%) 14 BAY POND INVESTORS (BERMUDA), LP •N1- NEW 31 Dec 95 BY $6'287M 216.59 30 Apr (3.10%) (2.27%) 20.27% 20.41% -12.53% 18.25% 16.77% (83.22%) ISSUE Mar 14 14 Apr 98- Mar 99 Nicholas C. Adams, Partner LANSDOWNE GLOBAL FINANCIALS FUND LTD. 30 Jun 04 M $1'257M 295.67 30 Apr (6.31%) (9.80%) 23.03% 17.78% -20.82% 11.65% 13.63% (26.25%) -N-USD Nov 13 14 Apr 10 - May 12 I4Iffiamde Winton 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source HSBC HSBC Alternative Investment Group I 27 EFTA00602726 Equity Long/Short Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdown1 Ytd Avg. 2014 Equity-Financial/Global (4.58%) MARSHALL WACE • MW GLOBAL FINANCIALS M.,'N A 31 Oct 08 NI $57M 129.32 06 May 0.94% (0.10%) 5.76% -0.75% 3.21% 4.77% 5.61% (8.01%) USD Jan 14 14 Nov 11 - Aug 12 Amit RaMal TOSCA CLASS A • USD 30 Sep 00 M $681M 268.1 I 30 Apr (2.099/4 (6.13%) 30.5% 24.94% 1.14% 7.53% 17.32% (67.54%) Johnny de la Hey Sep 13 14 Dec 07 - Nov 08 Equity-Healthcare Ytd Avg. 2014 (2.46%) Yid Avg. 2014 Equity-Healthcare/Global (2.46%) CCI HEALTHCARE PARTNERS LTD 31 Dec 00 M $1'193M 312.21 30 Apr (5.91%) (6.23%) 26.54% 6.56% 3.99% 8.91% 8.56% (17.89%) Oliver Matti. CC! Healthcare Partners Apr 14 14 Oct 07 • Sep 08 JENOP GLOBAL HEALTHCARE FUND LTD SERIES A 31 Oct 12 W $177M 12.72 30 Apr (7.55%) 0.51% 27.17% -0.45% 17.47% 13.34% (11.12%) David Chan Feb 14 14 Feb 14 • Apr 14 MLIS • CCI HEALTHCARE LONG SHORT UCITS FUND - 31 Jan 10 W $340M 130.10 06 May (0A6%) (6.82%) 26.97% 5.51% 2.72% 6.37% 9.20% (10.98%) B (acc) USD Jan 14 14 Feb 14 . May 14 Oliver Marti. CCl Healthcare Partners VISIUM INSTITUTIONAL PARTNERS FUND LTD 31 May 10 CI $131M 130.86 02 May 0.72% 2.72% 20.91% 5.73% 1.28% 7.09% 6.43% (5.86%) Jacob Gottlieb, trisiumAsset Management Feb 14 14 Apr 11 - Sep 11 Equity-Mid-Small Cap Ytil Avg. 2014 5.14% Equity-Mid-Small Cap/Europe Ytd 5.51% 2014 Avg. ENNISMORE EUROPEAN SMALLER COMPANIES 30 Nov 99 M f72M 416.58 24 Apr 1.92% 7.19% 23.49% 9.65% 11.36% 13.05% 10.67% (34.24%) Geoff Oldfield Jan 14 14 Jul 07 - Apr 09 POLAR CAPITAL EUROPEAN FORAGER FUND LTD • 31 Jul 03 M f434M 320.75 02 May (0.42%) 3.83% 11.79% 11.93% 2.39% 11.44% 7.29% (21.47%) AX Dec 13 14 Oct 07 - Feb 09 Rob Gurner Equity-Mid-Small Cap/Global Avg. Ytd 4.21% 2014 RAB SPECIAL SITUATION FD LTD 31 Jul 03 O $22M 418.65 31 Mar (1.96%) 4.21% -32.86% -27.94% -17.75% 1.56% 34.59% (89.56%) Philip Richards May 13 14 Jul 07 - Dec 13 Yld Avg. 2 014 Equity-Mid-Small Cap/UK 5.71% ALPHAGEN VOLANTIS FUND. LTD - A (USD) 30 Apr 02 NI $582M 525.66 02 May (0.05%) 5.71% 13.46% I2.7% 1.02% 14.81% 8.31% (11.36%) Rob Giles & Adam McConkey Apr 14 14 Jun 08 - Dec 08 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group l 28 EFTA00602727 Equity Long/Short Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Ytd Avg. 2014 Equity-Mid-Small Cap/USA 5.08% COOPER CREEK PARTNERS LLC 31 Oct 08 O $100M 180.04 30 Apr 0.79% 6.80% 27.15% 9.93% •13.51% 11.29% 10.42% (22.12%) Robert Schwartz Mar 14 14 Feb 11 - Sep I t GREENLIGHT CAPITAL OFFSHORE. LTD - All 30 Sep 96 O $a203M 163.287.95 30 Apr 4.50% 2.72% 18.76% 7.66% 1.86% 17.21% 10.80% (27.17%) David Einhorn Jan 13 14 May 08 - Oct 08 GRT TOPAZ OFFSHORE PARTNERS. LTD - A/1 31 Aug 01 O $29M 2.584.08 30 Apr 1.60% 2.84% 12.25% 13.2% •1.64% 7.78% 12.86% (47.07%) Gregory B Fraser & Rudolph K Kluiber & Timothy A. Dec 12 14 May 07 - Feb 09 Krochuk HARBOUR HOLDINGS LTD 31 Dec 85 M $266M 178.46 31 Mar 1.77% 3.50% 26.65% 14.64% -1.07% 18.61% 23.21% (49.05%) Charles A. Paquelet Mar 14 14 May 07 - Feb 09 HARVEY SMIDCAP OFFSHORE FUND LTD 31 Jan 06 O $74M 2.388.92 31 Mar 1.69% 5.47% 15.93% 9.43% 4.99% 11.25% 7.66% (9.17%) Jell Moskowitz and Jim Schwartz Mar 14 14 April - Dec Ii SENVEST PARTNERS. LTD - CLASS A 31 Mar 97 O $383M 2.527.04 30 Apr (2.20%) 9.14% 79.51% 34.81% -33.96% 20.80% 37.61% (70.55%) Richard Mashaal Feb 14 14 Feb00 - Sep 02 Equity-Pharma-Biotech Ytd Avg. 2014 4.36% Ytd Avg. 2014 Equity-Pharma-BiotechlUSA 4.36% PERCEPTIVE LIFE SCIENCES OFFSH FUND. LTD 31 Dec 99 M $915M 2.169.59 30 Apr (6.70%) 3.16% 43.88% 28.09% 5.82% 23.94% 25.75% (25.67%) Joseph Edelman Feb 14 14 Feb 00 May 00 TRAXIS SIVIK GLOBAL HEALTHCARE OFFSHORE - 30 Jun 01 M $40M 2.124.51 31 Mar (1.64%) 3.96% 20.95% 13.88% -8.27% 6.08% 11.15% (32.70%) A/01.01 Oct 13 14 Oct 07 Feb 09 Koshen Sud VISIUM BALANCED OFFSHORE FUND CL 2 31 Oct 05 WO $3'122M 262.14 02 May 0.45% 5.96% 18.52% 10.31% 1.89% 12.00% 8.99% (15.79%) Jacob Gottlieb Feb 14 14 Aug 08 - Dec 08 Equity-Real Estate Ytd Avg. 2014 6.74% Ytd Avg. 2014 Equity-Real Estate/Global 6.74% BROOKFIELD GLOBAL REITS LONG SHORT 30 Nov 04 M $352M 499.00 31 Mar 1.80% 6.74% 16.2% 40% -18.96% 18.79% 27.11% (54.37%) STRATEGY Jan 14 14 May 07 Feb 09 Jason Baine and Bernhard Krieg Equity-Technology Ytd Avg. 2014 5.99% 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source HSBC HSBC Alternative Investment Group I 29 EFTA00602728 Equity Long/Short Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Ytd Avg. 2014 Equity-TechnologyiGlobal 2.95% EXANE ARCHIMEDES FUND CLASS A CAP 30 Sep 06 W €344M 16.185.25 06 May 0.64% 2.95% 3.84% -0.19% 3.99% 6.54% 4.68% (5.10%) Gilles Lenoir and Cesar Zeitouni Mar 14 14 Nov I1 - May 12 Ytd Avg. 2014 Equity-Technology/USA 9.04% SELIGMAN TECH SPECTRUM FUND CLASS 31 Dec 06 M $120M 366.72 31 Mar 4.02% 9.04% 11.22% 0.65% -0.21% 8.71% 12.01% (19.91%) -Al .512.2002 Mar 14 14 May 08 - Nov 08 J. & W Seligman & Co. Incorporated Equity-Utility Ytd Avg. 2014 4.08% Ytd Avg. 2014 Equity-Utility/Europe 4.08% CYGNUS UTILITIES. INFRASTRUCTURE & 30 Apr 06 M $121M 1.866.62 31 Mar 0.00% 4.08% 2.98% 10.88% -2.7% 8.20% 7.77% (10.69%) RENEWABLES Feb 14 14 Nov 09 - Aug It Cygnus Asset Management 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 30 EFTA00602729 Event Driven Inception Liquidity Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Dates Size Index Drawdownl Equity-Diversified Ytd Avg. 2014 (6.29%) Equity-Diversified/USA MARCATO INTERNATIONAL LTD Richard McGuire, Mews'.° Capital Management LLC 30 Sep 10 0 $707410 Mar 14 155.57 30 Apr 14 Ytd Avg. 2014 (6.29%) (4.60%) (6.29%) 26.16% 28.67% .4.16% 13.12% 12.37% (17.63%) Mar11-Sep11 Multi-Strategy Ytd Avg. 2014 3.30% Ytd Avg. 2014 Multi-Strategy/Asia (4.44%) YORK ASIAN OPPORTUNITIES UNITS TRUST -A- 31 Mar 06 CI $590M 1,270.94 31 Mar (2.10%) (4.44%) 14% 10.8% .6.59% 9.52% 14.21% (34.54%) Fang Hsiung /Masahiko Yamaguchi Mar 14 14 Oct 07 - Dec OS Ytd Avg. 2014 Multi-Strategy/Emerging (1.66%) MONEDA ABSOLUTE RETURN LTD SUB CLASS 31 Jan 07 0 $80M 1,263.84 30 Apr 1.30% (1.66%) -0.55% 5.49% -16.4% 3.28% 12.35% (29.89%) 1/SIES1 Dec 13 14 Jun 08 - Dec08 Juan Luis Rivera Ytd Avg. 2014 MUlti-Strategy/EUrOpe (3.15%) MLIS • OZ EUROPE UCITS FUND CLASS B EUR 31 Mar 11 D $534M 111.66 06 May (0.34%) (3.34%) 14.37% 10.74% -8.79% 3.62% 6.41% (10.96%) David Windreich, OM-Ziff Capital Management Group Feb 14 14 Apr 11 -Nov 11 PORTLAND HILL OVERSEAS FUND LTD 31 May 12 M $190M 122.36 02 May 0.53% (2.96%) 17.16% 7.62% 11.08% 7.02% (4.41%) Thierty Lucas Mar 14 14 Feb 14 - Apr 14 Ytd Avg. 2014 Multi-Strategy/Global 4.72% AG SUPER FUND INTERNATIONAL, LTD 30 Apr 93 Y $640M 1,767.06 30 Apr 0.80% 4.05% 16.86% 13.67% -2.62% 10.20% 5.42% (24.78%) Michael Gordon & Dave Kamin Sep 13 14 Jun 07 - Dec 08 DAVIDSON KEMPNER INTL, LTD • CLASS C Tranche 1 31 Oct 95 0 $1454M 480.87 30 Apr 0.86% 3.73% 9.8% 8.13% 1.38% 8.85% 3.73% (10.87%) Thomas L. Kempner. Jr. Dec 13 14 Oct 07 - Nov 08 DROMEUS GLOBAL OPPORTUNITIES FUND 30 Jun 08 M $75M 226.56 02 May 0.54% 3.80% 11.65% 20.78% -1.62% 15.03% 9.60% (937%) Dromeus Capital Management Ltd Mar 14 14 Apr II - May 12 KG INVESTMENT FUND LW 31 Dec 08 0 $102M 258.28 30 Apr (1.13%) (0.19%) 26.85% 21.93% 12.4% 19.48% 14.34% (20.31%) KG Funds Management LLC Mar 14 14 Dec08 - Feb 09 KL Special Opportunities FUND Ltd CLASS A USD 31 Jan I I 0 $106M 130.82 31 Mar (0.72%) 1.90% 9.44% 11.94% 4.8% 8.86% 5.95% (8.21%) Jamie Sherman & Jan Lemout Feb 14 14 Mar 12 - Jun 12 MLIS • YORK EVEN DRIVEN UCITS E CAP EUR 31 Dec 10 D E424M 132.35 06 May 0.82% 3.83% 25.92% 5.44% -5.32% 8.28% 9.52% (15.14%) York Lies Hollings .lic Jan 14 14 Apr 11 -Sep 11 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 31 EFTA00602730 Event Driven Inception Liquidity Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Dates Size Index Drawdownl Ytd Avg. 2014 Multi-StrategyiGlobal 4.72% OWL CREEK OVERSEAS FUND. LTD 31 Jan 02 Y $2'068M 4.862.87 30 Apr (1.90%) (3.48%) 48.63% 11.07% -15.44% 13.78% 13.04% (20.92%) Jeffrey Altman Dec 13 14 Mar 10 - Sep I t PAULSON ADVANTAGE LTD -A- 31 Mar 04 O $931M 277.56 30 Apr (2.45%) 0.06% 26.05% -14.23% -35.96% 10.65% 15.13% (47.71%) John Paulson Feb 14 14 Feb 11 - Nov 12 PAULSON ADVANTAGE PLUS LTD 31 Dec 04 O $2'166M 287.56 30 Apr (2.55%) 2.26% 27.22% -21.5% -52.64% 11.98% 22.69% (65.24%) John Paulson Feb 14 14 Feb 11 - Feb 13 PAULSON RECOVERY FUND LTD 31 Oct 08 Y $1'503M 192.17 30 Apr (3.98%) 0.09% 63.18% 5.25% -27.92% 12.61% 19.82% (35.13%) John Paulson Feb 13 14 Apr11-Sep11 PERRY PARTNERS INTERNATIONAL INC CLASS -1 - 30 Sep 93 O / 2Y $6'684M 1.030.00 02 May 0.05% 1.14% 20.25% 15.61% -7.14% 11.99% 7.21% (25.65%) TN A Richard Pony Mar 14 14 Oct 07 - Nov 08 PERSHING SQUARE INTL.LTD 31 Dec 04 WO $5'618M 4.435.71 30 Apr 7.30% 19.21% 9.3% 12.39% -2.03% 17.30% 14.08% (20.35%) William Ackman Apr 14 14 Jan 08 - Feb 09 SOLUS SOLA LTD CL. I 31 Dec 01 O $1'920M 1.23115 02 May 0.20% 10.08% 31.67% 9.11% -1.73% 22.57% 14.26% (21.93%) Chris Puente. Scott Martin. CJ Lanktree Mar 14 14 Feb08 . Apr 00 SOMERSET SPECIAL OPPORTUNITIES FUND LP 31 Jul 07 O $293M 193.45 31 Mar 0.38% 2.00% 12.75% 11.33% -1.25% 10.40% 10.96% (25.61%) Robell Feingold Mar 14 14 Aug 08 - Mar 09 TRIAN PARTNERS LTD 31 Dec 05 O $2235M 197.65 02 May 0.43% 0.91% 40.06% 0.9% 3.98% 8.51% 13.35% (30.56%) Nelson Peitz. Peter May & Ed Garden Feb 14 14 May 07 - Feb 09 TYRUS CAPITAL EVENT FUND LTD 31 Oct 09 O $1200M 164.58 02 May 0.37% 14.40% 15.75% 6.77% -0.22% 11.70% 6.44% (7.95%) Tony Chedraoui Mar 14 14 Feb 11 - Sep It TYRUS CAPITAL OPPORTUNITIES FUND LTD 31 Mar 11 O $828M 134.95 30 Apr 2.99% 14.61% 14.72% 7.59% -4.6% 10.20% 6.71% (6.43%) Tony Chedraoui Mar 14 14 Mar 11 - Sep ll YORK INVESTMENT LTD -CLASS A-U/1 28 Feb 94 O $3'400M 9.351.68 04 Apr 0.25% 6.49% 18.77% 13.73% -7.34% 11.76% 8.88% (29.86%) James Oman Feb 14 14 Oct 07. Feb 00 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 32 EFTA00602731 Fixed Income Arbitrage Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Fixed Income Yid Avg. 2014 1.61% Ytd Avg. 2014 Fixed Income/Global 1.61% AXONIC SYSTEMATIC ARBITRAGE OVERSEAS FUND 31 Mar 12 M $69M 121.53 30 Apr 3.23% 3.53% 22.85% -4.45% 9.82% 9.42% (10.06%) LTD Mar 14 14 Jun 12- Sep 12 Clayton DeGiacinto BLACKROCK FIXED INCOME GLOBAL ALPHA FUND 30 Sep 06 M $5'300M 209.93 05 May 0.08% L83% 6.04% 14.73% 19.93% 10.25% 5.32% (1034%) Tim Webb Feb 14 14 Jun 08 - Dec 08 BLACKROCK OBSIDIAN FUND 30 Jun 96 M $1200M 6.982.08 02 May 0.00% 5.60% 10.83% 34.27% -13.5% 11.50% 9.22% (20.93%) Stuart Spodek Mar 14 14 Jan 08 - Feb 09 CAPULA GLOBAL RELATIVE VALUE FUND LTD CLASS 30 Sep 05 0 $6202M 228.22 05 May 0.07% 236% 7.56% 0.43% 6.21% 10.07% 4.66% (7.41%) -A- Apr 14 14 Feb 08 - Mar 08 Yan Huo. Masao Mai EMF FIXED INCOME FUND. LTD 31 Oct 01 M $168M 35.259.07 31 Mar (0.37%) (4.70%) -4.08% -1.12% 5.89% 10.68% 14.49% (22.46%) Eric M. RanaganiDavid C. Gottlieb Jan 14 14 Feb 08 - Mar 08 III FUND LTD 30 Jun 93 M $114M 4.000.63 30 Apr (0.08%) 2.29% 13.44% 11.83% 9.03% 6.88% 11.05% (54.77%) Cliff G Viner Mar 14 14 Jan 08 - Nay 08 III RELATIVE VALUE CREDIT STRATEGIES FUND LTD 31 Oct 05 M $134M 1.825.05 30 Apr 0.30% 2.49% 8.5% 10.22% 10.36% 7.33% 8.17% (3L27%) Lester Coyle Mar 14 14 Nov 07 - Dec 08 KAMUNTING STREET OFFSHORE FUND LTD 30 Apt 04 o $704M 263.01 30 Apr 4.60% 8.93% 6.97% 17.5% .6.2% 10.15% 12.55% (38.39%) Allan Teh Mar 14 14 Oct 07 - Nov 08 KLS DIVERSIFIED FUND LTD 31 Jul 08 0 $931M 161.29 30 Apr 0.95% 4.75% 1.58% 7.35% 4.85% 8.67% 3.31% (4.10%) Jeff Kromhaf : Harry Lengsfield : John Steinhardt Jan 14 14 Apr 13 - Jul 13 LONDON DIVERSIFIED FUND. LTD - E 30 Jun 05 0 $126M 1.096.73 02 May (0.28%) (L21%) 0.45% 4.86% 3.75% 1.05% 6.77% (29.25%) Robert Standing Mar 14 14 Jan 08 - Dec 08 PELAGUS CAPITAL FUND 31 Dec 07 M $793M 204.62 02 May 0.42% 0.15% 3.38% 4.47% 2.27% 11.96% 5.74% (4.14%) Bruno Usai Mar 14 14 Apr 11 -Aug II PIMCO ABSOLUTE RETURN STRATEGY IV 31 Mar 02 0 $2998M 2.337.83 31 Mar (0.32%) 0.90% -0.44% 12.01% 1.82% 7.33% 8.58% (2538%) OFFSHORE FUND II . CL. kl Mar 14 14 May 08 - Nov 08 William H. Gross. Cti Wang PINE RIVER LIQUID MORTGAGE FUND LTD 31 Aug 10 M $736M 149.91 30 Apr (1.55%) (0.48%) 0.82% 28.86% 7.19% 11.68% 6.80% (4.70%) Jiayi Chen. Steve Kuhn Apr 14 14 Feb 13. Jun 13 PROLOGUE FEEDER FUND. LTD. CLASS A 31 Jan 06 0 $2112M L854.46 30 Apr (1.50%) (3.83%) 2.51% 6.02% 8.37% 7.77% 3.71% (5.51%) David Loghouse. Graham Walsh Apr 14 14 May 13 - Apr 14 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 33 EFTA00602732 Fund of Funds Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Arbitrage Yid Avg. 2014 0.39% Ytd Avg. 2014 Arbitrage Global 0.39% HSBC MAA FUND USD 15 Jun 95 0 M $104M 211.38 17 Apr (0.62%) 0.39% 4.95% 4.21% .3.61% 4.05% 4.72% (25.30%) HSBC Alternative Investments Limited Feb 14 14 Jul 07 Dec 08 Event Driven Ytd Avg. 2014 2.10% Ytd Avg. 2014 Event Driven/Global 2.10% GEMS PROGR. FUND SICAV RECOVERY PORTFOLIO 31 Dec 01 0 $266M 2,441.04 30 Apr 0.04% 1.11% 8.61% 5.91% -12.46% 7.50% 6.65% (23.23%) REGULAR USD Oct 12 14 Jun 08 - Dec 08 David Goldfarb, Miguel Abad, Cedric Carol HSBC CREDIT MARKET OPPORTUNITIES FUND USD 31 May 09 0 $57M 119.37 17 Apr (0.21%) 1.94% 9.19% 8.74% •7.47% 5.86% 6.04% (9.16%) CLASS COMPOSITE Jan 14 14 Feb 11 - Dec II Hsbc Management (Guernsey) Ltd HSBC SPECIAL OPPORTUNITIES FUND LTD 28 Feb 07 0 $75M 133.31 31 Mar 0.51% 3.24% 13.97% 20.63% -3.5% 4.14% 10.06% (35.45%) HSBC Alternative Investments Limited Jan 14 14 Jun OS - Mar 09 Long/Short Ytd Avg. 2014 (4.32%) Yid Avg. 2014 Long/Short/Asia (4.32%) HSBC ASIAN ADVANTEDGE FUND 30 Jun 02 M $161.1 174.59 17 Apr (0.50%) (4.32%) 7.86% 2.01% -11.59% 4.83% 7.98% (24.73%) HSBC Alternative Investments Limited Mar 14 14 Dec 07 - Nov 08 Macro Ytd Avg. 2014 (4.80%) Yid Avg. 2014 Macro/Global (4.80%) MASTERS FUND LTD MAGNOLIA SERIES 31 Dec 96 0 $237M 4.909.12 25 Apr (1.15%) (4.80%) 11.11% 1.49% .0.36% 9.62% 8.65% (9.96%) Sean M. Doyle Jan 14 14 Jul 98 Oct 98 M u l t i - S t r a t e g y Ytd Avg. 2014 (1.53%) 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source HSBC HSBC Alternative Investment Group l 34 EFTA00602733 Fund of Funds Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Yid Avg. 2014 Multi-Strategy."Global (1.53%) DIAMOND CAPITAL MANAGEMENT 31 Oct 02 O $197M 178.49 31 Mar (1.52%) (0.12%) 10.45% 2.61% -1.97% 5.20% 4.33% (14.18%) Elchanan Jaglom. Daniel Jaglom Mar 13 14 Jun 08 - Dec 08 GAM DIVERSITY I INC - US$ CLASS 31 Dec 89 M $516M 737.08 30 Apr (1.85%) (2.39%) 10.49% 6.67% -3.44% 8.55% 7.93% (19.64%) David Smith Oct 13 14 Jan 94 - Jan 95 GAM DIVERSITY II INC - US$ CLASS 31 Jul 98 M $77M 224.34 30 Apr (1.86%) (2.43%) 10.34% 6.54% -3.66% 5.26% 7.32% (18.79%) David Smith Jan 14 14 Oct 07 - Dec 11 GAM TRADING II USD 30 Apr 97 M $1'536M 321.95 30 Apr (0.59%) (2.04%) -0.45% 2.83% -4.11% 7.12% 5.78% (7.34%) David Smith. Arvin Soh Jan 14 14 Apr 13 - Oct 13 HSBC GH FUND USD 31 May 96 M $1'694M 316.90 17 Apr (1.12%) 0.07% 8.51% 5.4% -3.37% 6.66% 6.32% (18.30%) HSBC Alternative Investments Limited Jan 14 14 Jun 08 - Dec 08 HSBC HEDGE INVESTMENTS FUND 28 Feb 02 O $3M 165.70 17 Apr (1.07%) 0.10% 8.22% 5.97% -2.72% 4.25% 4.86% (17.63%) HSBC Alternative Investments Limited Feb 14 14 Jun 08 - Dec 08 HSBC LEVERAGED GH FUND 30 Nov 04 M $1'694M 146.65 17 Apr (2.34%) (0.48%) 15.12% 8.72% -8.76% 4.16% 11.55% (37.09%) HSBC Republic Investment Limited Jan 14 14 Jun 08 - Dec 08 HSBC NEXT GENERATION FUND NNI MANDATE Share 30 Sep 11 M $43M 104.24 17 Apr (2.72%) (3.22%) 7.28% 1.98% -1.55% 1.64% 4.66% (4.59%) Class Jan 14 14 Feb 14 - Apr 14 HSBC Management (Guernsey) Ltd HSBC UCITS ADVANTEDGE FUND -USD CLASS 31 Oct 09 W C117M 96.97 30 Apr (3.07%) (3.23%) 7.25% 1.38% -7.51% (0.67%) 3.93% (8.81%) Hsbc Alternative Inv. Ltd Mar 14 14 Apr 10 - Dec 11 Trading Ytd Avg. 2014 (0.81%) Ytd Avg. 2014 Trading/Global (0.81%) HSBC TRADING ADVANTEDGE FUND 31 Oct 05 M $113M 128.60 17 Apr 0.41% (0.81%) -8.75% -5.39% -1.62% 3.02% 9.70% (20.93%) HSBC Alternative Investments Limited Apr 14 14 April - Septa 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source HSBC HSBC Alternative Investment Group I 35 EFTA00602734 Long Only Inception Liquidity Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Dates Size Index Drawdownl Equity-Diversified Ytd Avg. 2014 (16.15%) Ytd Avg. 2014 Equity-Diversified/Emerging (16.15%) RUSSIAN PROSPERITY FUND • A 31 Aug 96 W $1'194M 198.82 24 Apr (2.89%) (16.15%) 3A1% 20.19% -18.03% 18.65% 44.40% (90.26%) Alexander Branis Apr 14 14 Jul 97 - .San 99 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source HSBC HSBC Alternative Investment Group I 36 EFTA00602735 Macro Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Commodity Ytd Avg. 2014 2.97% Ytd Avg. 2014 Commodity/Global 2.97% ANDURAND COMMODITIES FUND 31 Jan 13 M $280M 1.002.92 31 Mar (0.08%) 0.92% 25.02% 22.15% 17.07% (11.86%) Pierre Andurand Mar 14 14 Jul 13 - Dec 13 ARMAJARO COMMODITIES FUND CLASS •A• 31 Mar 04 M $686M 231.59 02 May 0.37% (0.12%) 1.04% 1.65% -7.11% 8.68% 11.03% (15.56%) John Tilney Mar 14 14 Feb 08 - Dec 08 BREVAN HOWARD COMMODITIES STRATEGIES 28 Feb 10 M $819M 106.09 30 Apr 0.32% 3.27% -4.22% 5.8% -2.65% 2.28% 9.04% (12.22%) FUND L.P. Feb 14 14 Sep 12 - Nov 13 Stephan Nicolas DB PLATINUM V HERMES A.R. COMMODITY FUND 28 Feb 10 D $84M 107.54 06 May (0.29%) (1.02%) .5.82% .0.65% 9.69% 1.75% 6.09% (14.03%) Colin O'Shea Jan 14 14 Mar 12 - Nov 13 KROM RIVER COMMODITY FUND 30 Jun 06 M $227M 159.96 02 May 0.15% 0.49% .6.47% -4.92% -3.89% 6.17% 9.14% (18.68%) Christopher Brodie Mar 14 14 Apr 11 - Jan 14 MERCHANT COMMODITY FUND (THE) • COMPOSITE 31 May 04 M $134M 407.77 02 May (0.90%) 14.31% 15.77% .7.6% -30.07% 15.21% 20.78% (36.93%) Michael Coleman and Doug King Mar 14 14 Dec 10 - Oct 11 Commodity-Systematic Ytd Avg. 2014 6.15% Ytd Avg. 2014 Commodity-Systematic/Global 6.15% ARMAJARO STS COMMODITIES FUND CLASS -Z- 31 Dec 09 M $24M 80.61 30 Apr 5.38% 6.15% -7.8% -18.15% -15.89% (4.85%) 22.46% (48.58%) INNGriffin Jan 14 14 Apr11 - 0cl 13 Currency I S Ytd Avg. 2014 (1.55%) Ytd Avg. 2014 Currency/Asia (2.16%) DYMON ASIA MACRO FUND (SERIES A) 31 Jul 08 td $2969M 151.59 02 May (0.36%) (2.65%) 5.19% 0.96% 20.11% 7A9% 10.94% (13.69%) Danny Yong Feb 14 14 Jul 08 - Sep 08 THE CAMBRIDGE STRATEGY • ASIAN MARKETS 31 Jan 06 M $75M 157.39 30 Apr (1.58%) (1.68%) 1.06% 0.86% 6.36% 5.65% 8.04% (6.97%) CURRENCY ALPHA Mar 14 14 May 13 - Apr 14 Alexandra Edstein Ytd Avg. 2014 Currency/Global (1.15%) HARNESS MACRO CURRENCY FUND 31 Maf 09 D $94M 142.80 30 Apr (0.81%) (0.05%) 3.51% 17.65% -4.62% 7.26% 11.19% (13.52%) Harness Investment Group Ltd Apr 14 14 Apr 10 - Aug 10 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source liSBC HSBC Alternative Investment Group I 37 EFTA00602736 Macro Inception Dates Liquidity Asset Size Last NAV Of Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Ytd Avg. 2014 Currency.•Global (1.15%) THE CAMBRIDGE STRATEGY - EMERGING MARKETS 31 Jan 08 M $561M 151.72 30 Apr 0.48% (0.54%) -0.3% 7.42% 10.46% 6.90% 7.97% (10.76%) CURRENCY ALPHA Jan 14 14 May 13 - Sep 13 Jesse Marie. Andrew Brasier THE CAMBRIDGE STRATEGY - EXTENDED MARKETS 31 Mar 04 M $4M 115.67 30 Apr (0.04%) (2.85%) -9.96% -1.47% -0.92% 1.45% 6.85% (30.46%) CURRENCY ALPHA Mar 14 14 Feb 09 Apr 14 Robert Cofehan Diversified Ytd Avg. 2014 (2.96%) Ytd Avg. 2014 Diversified.Asia (5.52%) ALPHADYNE INVESTMENT STRATEGIES FUND LTD 31 Jan 07 M $369M 1.775.81 02 May (0.13%) (4.13%) 12.15% 7.06% 3.11% 8.24% 5.01% (4.80%) Bart Broadman. Philippe Khuong-Huu Feb 14 14 Jan 14 - May i4 BREVAN HOWARD ASIA FUND LIMITED 30 Sep 04 M $2656M 230.20 30 Apr (0.66%) (1.04%) 11.55% 4.41% 8.86% 9.09% 3.83% (1.94%) Kaspar Ernst Mar 14 14 Jan 10 - Mar 10 FORTRESS ASIA MACRO FUND 28 Feb 11 O $2605M 139.11 02 May 0.27% (5.11%) 17.06% 21.23% 3.3% 10.95% 6.48% (5.36%) Adam Levinson Mar 14 14 Dec 13 - Apr 14 SINFONIETTA FUND 31 May 08 M $81M 165.39 30 Apr (2.24%) (11.79%) 34.47% 7.07% 22.92% 8.87% 15.46% (14.44%) Symphony Financial Partners Apr 14 14 Jun 08 - Mar 09 Ytd Avg. 2014 DiversifiecitEmerging 0.83% ALPHA4X CAPITAL GROWTH FUND 30 Apr 06 M $109M 148.80 30 Apr (2.10%) (3.46%) -7.33% 2.54% 11.5% 5.09% 6.76% (12.78%) Manuel E Mejfa-Aoun. Urvish Bidkar. Fabio ?no Apr 14 14 Jun 13 - Apr 14 BLUECREST EMERGING MARKETS FUNDS 31 Aug 05 O $1'610M 200.81 30 Apr 0.83% 1.60% 4.65% 10.9% -0.43% 8.39% 10.60% (22.89%) Bluecresf Capital Management LLP Feb 14 14 Oct 07 - Oct 08 GAVEA FUND LTD . CLASS A S11 31 Jul 03 O $1'491M 227.17 02 May (0.13%) (3.37%) 2.71% 8.19% -0.35% 7.92% 6.60% (12.50%) Fraga Arminio and Gabriel Srour Mar 14 14 Jul 08 Oct 08 GREEN FUND LLC GREEN CLASS 31 Jan 01 M $1767M 694.04 30 Apr (1.57%) (4.50%) 9.9% 13.55% .5.7% 14.73% 14.05% (33.00%) Luis Stuhlberger Nov 13 14 Jun08 Nbv 08 PHARO TRADING FUND 30 Nov 00 M $345M 5.431.25 17 Apr 2.19% 14.48% 19.65% 0.69% -2.68% 13.47% 10.43% (13.16%) Guillaume Fonkenell Mar 14 14 Feb 08 Oa 08 SPINNAKER GLOB OPP FUND. LTD COMPOSITE 31 Jan 01 O $804M 510.31 15 Apr 0.10% 2.82% 0.97% 14.12% -11.82% 13.13% 9.21% (31.74%) Jorge Rosas Feb 14 14 May 08 Feb09 THE CAMBRIDGE STRATEGY - APOLLO (EM MACRO) 30 Apr 09 M $442M 139.91 30 Apr 0.18% (1.77%) -2.05% 12.92% 14.14% 6.94% 5.92% (10.90%) ABSOLUTE RETURN Mar 14 14 Mar 13 Oct 13 Russell Thompson. Walid Khalfallah. Ali Bora Yigifbasioglu 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source HSBC HSBC Alternative Investment Group I 38 EFTA00602737 Macro Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Yid Avg. 2014 Diversified/Global (3.43%) BREVAN HOWARD FUND. LTD - USD CLASS A 31 Mar 03 M $27'025M 298.69 30 Apr (1.18%) (4.04%) 2.68% 3.93% 12.15% 10.37% 6.82% (8.13%) Alan Howard Mar 14 14 Apr 13 - Apr 14 BTG PACTUAL GLOBAL EM. MKTS AND MACRO FD 31 Jan 09 M $5'533M 2.955.50 30 Apr 0.75% 5.34% 9.65% 28.12% 3.44% 22.94% 7.19% (337%) BTG Pactual Global Asset Management Jan 14 14 May II -Dec 11 CANOSA GLOBAL MACRO FUND LTD 30 Apt 13 M $1'030M 109.61 31 Mar (1.39%) 0.23% 9.34% 10.50% 7.54% (4.66%) Tim Attias. Santiago Afarco Mar 14 14 Aug 13 - Oct 13 CAPITAL FUND. LTD (THE) 31 Dec 99 M $59M 367.17 02 May 0.07% (0.71%) -3.07% 0.21% 4.65% 9.49% 10.30% (17.38%) Kenneth Windheim Jan 14 14 Jan 09 - Mar 10 CAXTON GLOBAL INVESTMENT LTD 31 Jan 97 O $4'880M 858.10 05 May 0.19% (4.94%) 18.19% 1.96% 0.7% 13.26% 7.42% (7.37%) Andrew E. Law Nov 13 14 Jun 07 - Aug 07 COMAC GLOBAL MACRO FUND 31 May 06 M $1'066M 148.26 02 May 0.44% (2.88%) 0.53% -8.95% 5% 5.09% 8.02% (14.56%) Calm O'Shea Apr 14 14 Apr 10 - Aug 13 COMMONWEALTH OPPORTUNITY CAYMAN FUND 30 Nov 08 M $1'010M 211.04 02 May 0.13% 2.59% 5.39% 15.64% 10.75% 14.77% 9.97% (10.38%) LTD Mar 14 14 Jan 09 - Feb 09 Adam Fisher DISCOVERY GLOBAL MACRO FUND LTD CLASS -A- SERIES 1 31 Aug 11 O $3'576M apr 14 1.290.93 02 May 14 0.57% (13.57%) 26.95% 18.87% • 1.02% 10.03% 11.67% (15.76%) Feb 14 - Apr 14 Roben K Citron DISCOVERY GLOBAL OPPORTUNITY FUND. LTD 31 Jul 99 HY $8'640M 837.81 30 Apr (5.43%) (12.04%) 27.5% 15.06% 3.58% 15.49% 14.73% (33.03%) Roben K Citron Apr 14 14 Dec 07 - Dec 08 ECLECTICA FUND (THE) CLASS A EURO 30 Sep 02 M £427M 222.15 02 May 0.50% (6.14%) -0.01% -1.72% 12.11% 7.13% 21.14% (31.94%) Hugh Hendry Mar 14 14 Feb 08 - Sep 08 ELEMENT CAPITAL FUND 31 Mar 05 M $4'441M 65.849.58 31 Mar (0.42%) 0.57% 19.44% 2.73% 5.54% 23.28% 9.90% (7.83%) Jeffrey Talpins Mar 14 14 Oct 07 - Apr 08 EPISODE INC. CLASS A 31 Jul 05 O $1'490M 141.32 30 Apr 0.35% 2.87% 6.14% -4.69% 0.98% 4.03% 11.45% (32.77%) David Fishwick 1 Tony Finding Oct 13 14 Oct 07 - Feb 09 FORTRESS MACRO FUND LTD. CLASS A 31 Dec 08 M $1712M 1.226.37 02 May 0.14% (6.21%) 13.97% 17.82% -9.33% 7.23% 7.12% (11.34%) Michael E. Novogratz & Adam Levinson Mar 14 14 Mar 11 - Nov I I GAM GLOBAL RATES HEDGE FUND 31 Jan 04 M $414M 222.86 22 Apr 0.05% 2.47% -0.11% 14.71% -6.73% 8.15% 7.25% (12.25%) Adrian Owens Mar 14 14 Mar 11 - Sep it GAMUT INVESTMENTS 30 Jun 86 M $97M 8.048.23 30 Apr (0.51%) 2.57% -2.83% 0.29% -0.95% 17.06% 13.17% (13.45%) Adrian Owens Dec 13 14 Dec 87 - Apr 88 GRAHAM ABSOLUTE RETURN TRADING LTD 31 Dec 04 O $627M 388.19 06 May (0.12%) (3.70%) 10.42% 9.22% 4.5% 12.61% 9.78% (13.31%) Graham Capital Management. L.P. Apr 14 14 May 07 - May 08 GRAHAM GLOBAL INVESTMENT FUND II - 31 May 04 O 53'327M 211.12 06 May (0.30%) (5.75%) 7.22% 7.35% 6.82% 10.80% 10.33% (30.81%) DISCRETIONARY ENHANCED VOL Apr 14 14 May 07 - Jun 08 Kenneth G. Tropin 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 39 EFTA00602738 Macro Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Ytd Avg. 2014 Diversified/Global (3.43%) GRAHAM GLOBAL INVESTMENT FUND- 31 May 04 O $3'327M 257.52 06 May (0.16%) (2.92%) 3.63% 3.83% 3.56% 6.16% 5.11% (14.81%) DISCRETIONARY Apr 14 14 May 07 - Jun 08 Kenneth G. Tropin HARMONIC ALPHA PLUS MACRO FUND - USD CLASS 30 Apr 03 M $76M 125.79 02 May 0.76% (1.71%) -8.34% 23.45% -8.95% 5.42% 12.00% (18.17%) Richard Conyers Mar 14 14 Aug 12 - Feb 14 MELLON OFF GLOB OPP FUND LTD - 30 Nov 05 M $171M 1.031.82 31 Mar (7.02%) (10.61%) 1.21% -2.53% 4.79% 0.38% 9.05% (31.90%) MULTICURRENCY - Al Oct 13 14 Jan 07 - 0c108 Alexander Hubens & Jell Zhang MELLON OFF. ALPHAACCESS FUND LTD - MCY AA 31 Jul 05 M $71M 885.68 31 Mar (13.18%) (21.07%) 5.4% -4.79% 4.46% (1.39%) 17.87% (59.00%) Alexander Hubens & Jell Zhang Oct 13 14 Jan 07 - 0c108 MKP OPPORTUNITY OFFSHORE. LTD 31 Jul 01 M $3137M 293.28 30 Apr (0.68%) (5.15%) 7.09% 6.9% 11.42% 8.80% 5.40% (5.15%) MKP Capital Management. L.L.C. Mar 14 14 Dec 13 - Apr 14 MLM MACRO PEAK PARTNERS OFFSH FD. LTD - B 31 Mar 02 M $573M 2.226.69 02 May 0.37% (6.44%) 23.84% -0.76% -35.04% 6.84% 17.85% (36.99%) Timothy Rudderow Sep 13 14 Dec 10 - May 12 MOORE GLOBAL INV FD. LTD - A $ 31 Dec 89 O $3132M 51083.64 30 Apr (2.69%) (5.11%) 17.02% 8.82% -2.21% 17.72% 11.72% (18.45%) Louis Bacon Mar 14 14 Jan 94 - Feb 95 MOORE MACRO MANAGERS FUND. LTD CLASS -A- 31 Jul 93 O $3'602M 11816.79 30 Apr (0.48%) 0.59% 13.49% 9.01% -2.57% 13.48% 8.33% (14.47%) Louis Bacon Feb 14 14 Jan 94 - Feb 94 OMNI MACRO FUND I LIMITED 30 Apr 07 M $298M 252.58 02 May 0.12% 2.90% -4.87% 0.74% 10.45% 14.13% 12.87% (14.14%) Stephen Rosen. Nick Munns Mar 14 14 Aug 10 - Apr 11 ONSLOW MACRO FUND CLASS A 31 Dec 07 M $116M 149.07 31 Mar 0.94% 0.07% 7.16% -6.72% 3.17% 6.55% 14.86% (25.48%) Nicolas Galperin. Esteban Klein Apr 14 14 Sep 08 - Oct 08 PHARO MACRO FUND LTD 30 Apr 05 O $3251M 3.042.35 17 Apr 1.19% 6.72% 18.51% 12.53% -7.82% 13.21% 8.70% (9.64%) Guillaume Fonkenell Mar 14 14 Jun 08 - Nov 08 PINPOINT MULTI-STRATEGY FUND 29 Feb 08 M $134M 151.88 30 Apr (3.34%) (2.63%) 4.65% 6.19% -10.43% 7.01% 10.75% (17.36%) Clang Wang Sep 13 14 Jun 08 - Nov 08 RUBICON GLOBAL FUND. LTD 31 Oct 99 M $890M 442.75 02 May (0.20%) (15.08%) 18.25% -3.89% 5.34% 10.80% 14.65% (36.03%) Paul Brewer Mar 14 14 Dec 04 - May 07 TREND MACRO OFFSHORE LTD 31 Jul 11 M $391M 130.43 02 May (0.05%) 1.57% 14.81% 16.56% -4.04% 10.12% 5.97% (6.45%) Ashwin Vasan Mar 14 14 Aug 11 - Jun 12 TT INTERNATIONAL FUND 31 Aug 89 M $275M 7.401.79 30 Apr (2.90%) (3.06%) 7.36% 4.27% •14.09% 8.38% 14.27% (27.05%) Tacchi Tim Mar 14 14 Jan 94 - Jan 95 TUDOR B.V.I GLOBAL FUND LTD -A- 31 Oct 86 O $7.163M 121.044.60 02 May 0.04% (4.31%) 13.98% 5.41% 2.17% 19.04% 18.66% (17.07%) Paul Tudor Jones Mar 14 14 Apt 92 - Jul 92 TUDOR B.V.I GLOBAL FUND LTD -A- ALT SERIES 01 31 Dec 11 O $5'620M 122.870.99 02 May 0.05% (3.91%) 14.29% 6.27% 6.83% 7.19% (4.37%) Paul Tudor Jones May 13 14 May 12 -Jun 12 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 40 EFTA00602739 Macro Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Ytd Avg. 2014 Diversified/Global (3.43%) TUDOR DISCRETIONARY MACRO FUND CLASS I 30 Jun t2 0 $1'696M 1.087.41 02 May 0.09% (6.58%) 13.2% 2.82% 4.66% 7.82% (8.91%) &MOS 01 Mar 14 14 Jun 13 - Apr 14 Multi-PM Platform Fixed Income Yid Avg. 2014 (0.31%) Ytd Avg. 2014 Fixed Income:Global (0.31%) BREVAN HOWARD INVEST. FUND - EMERGING 31 May 10 W $402M 111.35 30 Apr (0.28%) (0.31%) -3.84% 7.21% 2.97% 2.78% 4.72% (5.89%) MARKETS LOCAL FIXED INCOME FUND Mar 14 14 Feb13. Feb 14 Filippo Cipriani, Brevan Howard Asset Management Systematic Ytd Avg. 2014 (10.28%) Ytd Avg. 2014 Systematic/Global (10.28%) EAGLE QUANTITATIVE MACRO FUND LTD 30 Sep 06 M $417M 153.86 30 Apr (1.50%) (10.28%) -10.29% 8.57% 4.2% 5.84% 14.09% (22.44%) Eagle Trading Systems Inc. (Menachem Sternberg) Apr 14 14 May 12 - Apr 14 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source 115BC HSBC Alternative Investment Group l 41 EFTA00602740 Managed Futures Inception Liquidity Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max , Dates Size Index Drawdown Commodity Ytd Avg. 2014 15.66% Ytd Avg. 2014 Commodity/Global 15.66% CUMULUS ENERGY FUND CLASS A USD 30 Sop 06 M $4971.1 660.14 02 May (0.20%) 15.66% 1196% 2415% 99.63% 2122% 35.39% (41.27%) Peter Brewer Mar 14 14 Sep 07 - Apr 08 Currency Ytd Avg. 2014 3.51% Ytd Avg. 2014 Currency/Global 3.51% ORTUS FUND (CAYMAN) LTD 30 Sep 03 M $105M 201.83 30 Apr 1.34% 3.51% -17.32% .17.33% 5.7% 6.86% 12.08% (32.73%) Dr Joe Zhou Apr 14 14 Jan 12-Jan 14 Fixed Income Ytd Avg. 2014 (2.62%) Fixed Income/Global Ytd Avg. 2014 (2.62%) DB SELECT EUROFIN ACCURATE FX INCOME INDEX 31 Dec 07 D f43M 97.50 06 May 0.35% (2.62%) 2.39% 1.85% 8.88% 4.40% 6.61% (5.68%) Joao Poppe, Narclso Vega Apr 14 14 Aug 10-Mar 11 Systematic Ytd Avg. 2014 (2.81%) Avg. 20 Systematic/Global Ytd (2.81%)14 AHL (cayman) SPC EVOLUTION USD 31 Aug 05 M $1'518M 1.23 25 Apr 1.13% 3.08% 16.91% 23.53% 10.53% 15.27% 12.64% (13.16%) Tim Wong . Matthew Sargaison Jul 13 14 Jun 08 - Oct 08 AHL ALPHA 30 Sep 95 M $198M 8.55 25 Apr 0.01% (1.10%) -1.52% -0.06% -2.75% 12.24% 12.51% (12.28%) Tim Wong. Matthew Sargaison Feb 14 14 Oct 01 - Feb 02 AHL DIVERSIFIED 29 Feb 96 W $527M 86.33 25 Apr (0.15%) (2.51%) -3.06% -2.22% -5.9% 12.60% 16.75% (19.53%) Tim Wong, Matthew Sargaison Jul 13 14 Oct 01 - Apr 02 ASPECT DIVERSIFIED FUND • CLASS A 30 Nov 98 W $961M 290.87 07 May (0.13%) (4.25%) -4.44% •10.66% 4.51% 7.16% 1512% (22.19%) Anthony Todd Apr 14 14 Feb 12 - Mar 14 BLUETREND FUND. LTD • CLASS A 31 Mar 04 M $9'400M 264.84 30 Apr 0.96% (2.80%) -11.5% 0.02% 0.32% 10.14% 14.07% (22.05%) Michael Platt & Leda Braga Feb 14 14 Apr 11 -Jan 14 BORONIA DIVERSIFIED FUND MASTER 31 Aug 93 M $43M 1,795.34 06 May (1.32%) (2.62%) 13.23% .3.99% -8.75% 9.15% 11.57% (14.56%) Richard Grinham and Angus Grinham Apr 14 14 Feb 08 - Apr 12 CAMPBELL GLOBAL ASSETS FUND LTD Class A 31 Jan 98 M $109M 3,514.30 02 May (0.17%) (9.99%) 12.57% 4.52% -2.92% 8.04% 13.22% (21.17%) Campbell & Company Mar 14 14 Jun 07 -Jan 10 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. FISBC Alternative Investment Group I 42 Source - HSBC EFTA00602741 Managed Futures Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Yld Avg. 2014 Systematic; Global (2.81%) CAMPBELL GLOBAL ASSETS FUND LTD Class B 30 Jun 02 M $109M 2.930.98 02 May 0.12% (9.98%) 11.34% 1.84% 1.83% 5.60% 11.58% (22.92%) Campbell & Company Mar 14 14 Jun 07 - Aug 07 CANTAB CAPITAL PARTNERS QUANTITATIVE FUND 28 Feb 07 M $539M 1.351.21 02 May (0.65%) (7.68%) -27.65% 15.32% 12.84% 4.50% 15.62% (35.29%) (THE) - USD ARISTARCHUS Apr 14 14 Apr 13 -May 14 Ewan Kirk. Erich Schlaikjer. Cantab Capital CONQUEST MACRO FUND. LTD (COMP) 30 Apt 99 M $157M 1.940.37 07 May (3.50%) (0S2%) -7.66% -33.16% -5.67% 4.51% 19.61% (56.21%) Marc Malek Aug 13 14 Jul 09 - Mar 13 CRABEL FUND SPC LTD CLASS A 28 Feb 98 M $365M 5.397.96 02 May (0.69%) 0S3% 2.2% 15.53% -1.93% 10.98% 16.19% (16.71%) Toby Crabel Dec 13 14 Oct 98 - Jun 99 DB PLATINUM IV DBX SYSTEMATIC ALPHA INDEX 30 Jun 10 W $1267M 116.91 30 Apr 1.59% 1.03% 6.63% -3.96% 4.85% 4.16% 7.56% (7.87%) FUND - CLASS I1CU Sep 13 14 Apr 13 - Aug 13 DB Platinum Advisors DISCUS FEEDER LTD CL. B USD STANDARD 31 Dec 90 M $113M 993.10 02 May 0.02% (1.46%) -10.32% -13.88% 21.95% 10.58% 15.60% (34.56%) LEVERAGE Apr 14 14 Jun 94 - Oct 95 Team managed EAGLE GLOBAL FUND 30 Sep 95 M $140M 722.847.20 02 May (0.26%) (18.07%) -15.88% 8.1% 8.82% 11.22% 23.27% (36.19%) Menachem Sternberg Mar 14 14 Apr 13 - Mar 14 EDGESTREAM NIAS FUND 30 Jun 04 M $634M 183.05 02 May 0.19% 0.24% 10.05% -0.82% -4.52% 6.33% 6.85% (9.76%) Edges frown Partners. LP May 14 14 Dec 04 - Sep OS FORT GLOBAL DIVERSIFIED 30 Sep 93 D $86M 2.250.07 02 May 0.56% 3.68% -4.67% 7.12% 39.95% 16.32% 19.27% (26.55%) Yves Balcer. Sajiv Kumar Apr 14 14 May 99 - Sep 00 GRAHAM GIF II PROPRIETARY MATRIX SP SIES A 30 Jun 99 M $834M 304.35 06 May (0.41%) (7.95%) 13.72% -0.07% -9.85% 7.78% 11.90% (17.90%) Kenneth G. Tropin Apr 14 14 Apr 11 - Nov 12 GRAHAM GLOBAL INVESTMENT FUND II - K4D-10V 31 Jan 95 M $2208M 346.89 06 May (0.27%) (6.04%) 10.04% -4.91% -13.12% 6.67% 12.23% (20.70%) Kenneth G. Tropin Apr 14 14 Apr 11 - Nov 12 GRAHAM GLOBAL INVESTMENT FUND II - K4D-15V - 31 Dec 00 M $2208M 203.34 06 May (0.41%) (8.97%) 15.25% -7.15% -18.64% 9.37% 19.26% (29.84%) COMPOSITE Apr 14 14 Feb 04 - Apr OS Kenneth G. Tropin GRAHAM GLOBAL INVESTMENT FUND TACTICAL 30 Sep 06 W $991M 186.81 30 Apr 1.81% (2.22%) 8.44% 4.21% -0.1% 8.59% 10.13% (8.00%) TREND S/A Apr 14 14 Nov 09 - Jan 10 Graham Capital Management. L.P. KEYNES LEVERAGED QUANTITATIVE STRATEGIES 31 Dec 04 M $241M 97.42 30 Apr (0.64%) (6.03%) -3.98% 6.54% -5.89% 5.94% 12.04% (12.83%) FUND CLASS - B -COMPOSITE Sep 13 14 Apr 06 - Sep 06 Sushi! Wadhwani. LYNX (BERMUDA) LTD 30 Apt 00 M $1'880M 451.44 07 May (1.48%) (5.15%) 11.1% -6.71% -2.25% 11.34% 14.28% (14.72%) Jonas Bengtsson. Svante Bergstrom. Martin Sandquist Mar 14 14 Sep 11 - Aug 13 LYNX BERMUDA 1.5 LTD 30 Apt 08 M $332M 140.50 07 May (2.21%) (7.87%) 16.7% -10.82% -4.08% 5.81% 22.36% (22.55%) Jonas Bengtsson. Svante Bergstrom. Martin Sandquist Mar 14 14 Sep 11 - Aug 13 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group I 43 Source - HSBC EFTA00602742 Managed Futures Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Ytd Avg. 2014 Systematic/Global (2.81%) MLIS - GRAHAM CAPITAL SYSTEMATIC MACRO 30 Nov 10 D $83 M 76.41 06 May (0.29%) (6.29%) 11.59% -10.09% -20.38% (7.54%) 12.53% (31.34%) UCITS FUND Feb 14 14 Feb 11 - Nov 12 Graham Capital Management L.P. RENAISSANCE INSTITUTIONAL FUTURES FUND LP 30 Sep 07 M $584M 124.68 30 Apr 1.38% 4.87% 2.15% -3.17% 1.84% 3.41% 11.12% (22.27%) Renaissance Technologies LLC Feb 14 14 Jun 08 - Jun 09 SOLAISE SYSTEMATIC FUND LTD ( S Class) 31 May 11 M $31M 95.56 02 May (0.49%) (1.11%) 1.84% -0.15% -4.97% (1.55%) 11.66% (13.61%) Ali Najaf May 14 14 Aug 11 - Aug 13 TEWKSBURY INVESTMENT FUND. LTD - B 31 Dec 90 M $2'561M 17.790.98 02 May 0.50% 6.50% 7.57% 3.53% 4.55% 13.12% 4.71% (7.75%) Matthew Tewksbury Feb 14 14 Jun 07 - Aug 07 TRADELINK INTEGRATED PROGRAM LTD 31 Dec 93 M $67M 2.345.44 02 May (0.31%) (0.93%) 7.76% -6.33% -21.27% 16.77% 22.52% (36.53%) Alex Brockman Mar 14 14 May 03 - Jan OS TULIP TREND FUND. LTD - A 31 Mar 03 M $396M 3.604.76 02 May (1.16%) (2.05%) -0.01% 4.89% -20.93% 12.25% 25.31% (34.25%) Progressive Capital Partners Ltd Mar 14 14 Feb 09 - Jan tO TWO SIGMA COMPASS CAYMAN FUND 31 Jul 09 M $830M 1.908.04 30 Apr 1.02% 6.30% 14.07% 4.23% 2.33% 14.56% 7.81% (9.85%) Two Sigma Investments. LLC Feb 14 14 Apr 11 - Sep II WINTON EVOLUTION FUND (THE) 31 Aug 05 M $239M 1.503.28 07 May 0.03% (0.24%) 14.56% -8.31% 3.83% 4.80% 10.51% (14.61%) David Harding Mar 14 14 Jun 08 - Jul 09 WINTON FUTURES FUND - CLASS B 30 Sep 97 M $10'400M 898.99 07 May (0.03%) 0.12% 9.4% -3.56% 6.29% 14.13% 16.90% (25.08%) David Harding Apr 14 14 Oct of . Feb 02 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 44 EFTA00602743 Market Neutral Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdown Discretionary Ytd Avg. 2014 0.68% Yid Avg. 2014 Discretionary/Asia 7.54% AMAZON MARKET NEUTRAL FUND CLASS A USD 31 Aug 05 M $327M 408.71 02 May 0.07% 7.54% 7.34% 1.85% 11.56% 17.62% 11.82% (20.20%) Philip King Apr 14 14 Jun08 • Dec 08 Ytd Avg. 2014 Discretionary/Europe (1.10%) EXANE MICROMEGAS FUND LTD- CLASS A CAP 30 Jun 06 €64M 14.853.37 06 May 0.46% (1.05%) 3.43% 474% 1.38% 3.37% 5.40% (8.06%) Jerome Poke! Mar 14 14 Feb 12 • Sep 13 MBAM ACTIVE LONG SHORT 31 Jul 10 M $506M 117.19 30 Apr (2.15%) (0.91%) 5.06% 3.61% 0.08% 4.32% 3.52% (2.67%) Hilton Nathanson Mar 14 14 Feb 14 - Apr 10 OYSTER MARKET NEUTRAL EUR 31 Jul 09 $285 M 171.69 06 May (0.47%) (1.33%) 10.72% 6.4% -6.15% 2.87% 4.27% (7.06%) Syz Asset Management S.A. Feb 14 14 Dec 10 - Jan 12 Ytd Avg. 2014 Discretionary/Global 1.14% BLACK DIAMOND RELATIVE VALUE LTD -C-Shs 31 Jul 99 Q $808M 347.48 30 Apr (0.56%) 2.48% 8.31% 9.48% -3.25% 8.81% 5.37% (8.09%) Clint Carlson Nov 13 14 Mar 11 - Sep 11 MARSHALL WAGE MW MARKET NEUTRAL TOPS A 31 Oct 07 M $507M 140.18 06 May 0.24% 1.08% 18.78% 15.02% 3.18% 5.32% 6.69% (15.98%) USD Jan 14 14 Jun 08 - Nov 08 Anthony Clake. MLIS - MARSHALL W. TOPS UCITS FUND (MKT NTRL) Marshall Wace LLP 31 Dec 07 D el '103M Jan 14 120.73 06 May 14 0.13% (0.14%) 7.58% 6.07% 3.46% 3.01% 4.52% (11.63%) Jun 08 • Oct 08 Ytd Avg. 2014 Discretionary/Japan 1.30% EQUILIBRIA JAPAN FUND LTD IX USD 30 Apt 02 M $166M 238.78 30 Apr 0.80% 0.85% 9.16% -3.55% -0.13% 7.52% 4.49% (7.20%) James Pulslord. Sara Gardiner-Hill Jan 14 14 Jul 11 - Dec 12 EQUILIBRIA JAPAN FUND LTD 2X (USD) 30 Apt 09 M $336M 150.54 30 Apr 1.63% 1.74% 19.7% -6.6% -0.5% 8.52% 8.12% (13.42%) James Pulslord. Sara Gardiner-Hill Jan 14 14 Jul 11 - Dec 12 Ytd Avg. 2014 Discretionary/UK (1.41%) ABSOLUTE INSIGHT UK EQUITY MKT NEUTRAL 31 Mar 08 D €1130M 1.22 07 May 0.00% (0.19%) 3.38% 3.49% 2.3% 3.15% 1.44% (1.34%) FUND-CLASS B2P GBP Jan 14 14 Feb 14 -Apr 14 Andrew Cawker. lain Brown. Richard Howarth SCHRODER CAZENOVE UK ABSOLUTE TARGET 30 Jun 08 D £247M 122.00 07 May 0.08% (2.63%) 10.09% 4.08% 11.24% 3.45% 5.34% (9.96%) FUND P2 GBP Dec 12 14 Sep 09 - Dec 10 Steven Cordell 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 45 EFTA00602744 Market Neutral Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Equity Diversified Ytd Avg. 2014 (2.10%) Ytd Avg. 2014 Equity Diversified/Asia (1.47%) MACQUARIE ASIAN ALPHA FUND 30 Sep 05 M $1'102M 1.854.85 02 May 0.20% 0.49% 9.04% 4.41% 9.11% 9.52% 6.27% (14.05%) Nick Bird Mar 14 14 Oct 07 - Apr 09 PAN ASIA OPPORTUNITIES FUND LTD CLASS B 31 Jul 10 M $11 31M 122.47 02 May (0.10%) (3.44%) 7.13% 2.92% 9.6% 5.54% 5.29% (4.51%) Jell Shen. Ryan Kim. Ryan LaFond. Jan Bratteberg Apr 14 14 Nov 13 - Mar II Ytd Avg. 2014 Equity Diversified/Europe (4.11%) BLACKROCK EUROPEAN DIVERSIFIED EQUITY A.R.F 30 Sep 10 D 6208M 118.20 07 May (0.16%) (3.07%) 16.13% -0.35% -4.05% 3.87% 5.91% (13.12%) SHARE CLASS D Jan 14 14 Marti May 12 Robert Fisher/Simon Weinberger GAM TALENTUM ENHANCED EUROPE LONG/SHORT 30 Nov 04 M €328M 242.36 30 Apr (5.70%) (4.68%) 15.83% 16.66% 2.91% 9.85% 9.15% (25.03%) A - Mar 14 14 Jun 08 Aix 09 Gianmarco MondaM/ Roberto Cantaluppii Paolo Longinotti GLG EUROPEAN EQUITY ALTERNATIVE FUND UCITS 30 Jun 11 D $1'484M 110.68 02 May 0.34% (4.59%) 7.23% 6.19% 1.87% 3.64% 5.46% (7.75%) AR CL I Apr 14 14 Feb t4 Apr la Pierre Lagrange. Simon Savage. Darren Hodges Yid Avg. 2014 Equity Diversified/Global 2.68% TWO SIGMA ABSOLUTE RETURN FUND LTD 31 Oct 11 M $563M 1.202.88 31 Mar (0.13%) 2.68% 11.25% 4.03% 1.23% 7.94% 5.10% (3.30%) Two Sigma Advisers. LLC Mar 14 14 Jun 13 - Aug 13 Multi-Strategy Ytd Avg. 2014 0.06% Ytd Avg. 2014 Multi-Strategy/Asia (0.16%) LIM ASIA MULTI-STRATEGY FUND CLASS A 31 Dec 95 O $1'333M 37.28 30 Apr 0.43% (0.16%) 5.63% 3.57% 0.23% 7.44% 5.73% (15.79%) George W. Long Mar 14 14 Feb 08 Nov 08 Yid Avg. 2014 Multi-Strategy/Global 0.27% HUDSON BAY INTERNATIONAL FUND LTD 31 May 06 O $1'425M 237.12 30 Apr (0.73%) 0.27% 7.9% 11.37% 4.31% 11.52% 5.05% (3.92%) Hudson Bay Capital Management LP Mar 14 14 Nov 07 - Dec 07 Statistical Arbitrage Ytd Avg. 2014 1.58% 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 46 EFTA00602745 Market Neutral Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdown ' Ytd Avg. 2014 Statistical Arbitrage/Global 1.58% A.R.T. INTERNATIONAL INVESTOR (BVI) Ltd 28 Feb 07 0 $611M 220.01 30 Apr 0.09% 1.51% 4.91% 5.67% 7.88% 11.62% 7.90% (10.48%) Aaron Sosnick Mar 14 14 Jul 07 - Aug 07 CAMPBELL GLOBAL ASSETS FUND LTD Class D 31 Dec 00 M $149M 1.093.94 02 May 0.87% (0.74%) -5.62% -10.1% 18.36% 7.99% 10.19% (22.98%) Campbell & Company Oct 13 14 Feb 06 Aug 07 GSA CAPITAL INTERNATIONAL FUND. LTD CLASS A 28 Feb 05 0 $1210M 245.20 02 May 0.48% 3.97% 13.28% 3.64% 15.2% 10.27% 4.38% (11.91%) Jonathan Hiscock Apr 14 14 Jun08 Sep 08 Systematic Ytd Avg. 2014 (0.59%) Ytd Avg. 2014 Systematic: Europe (2.03%) BLACKROCK EOS CLASS B USD COMPOSITE 28 Feb 02 M $237M 1.418.20 06 May 0.36% (2.03%) 20.08% 3.49% -3.11% 9.48% 8.61% (14.33%) Robert Fisher. Simon Weinberger Apr 14 14 Jul 07 - Jan 08 Ytd Avg. 2014 Systematic/Global (0.23%) BLACKROCK 32 CAPITAL MASTER FUND SPC. LTD 31 Jul 02 Y/ M $1'044M 2.035.88 02 May 0.30% (4.25%) 8.02% 9.41% 24.92% 6.23% 7.38% (25.15%) (THE) - A/1 Apr 14 14 Jun 08 - Sep 09 Raffaele SaW and Ken Kroner BLUEMATRIX FUND CLASS -A- USD 31 Oct 07 M $1'900M 153.14 31 Mar 1.73% 3.42% 12.57% -2.49% -1.42% 6.86% 6.97% (9.96%) Frank Faille. Systematic Team Jan 14 14 April -Sep11 BRYN MAWR OFFSHORE LTD 31 Dec 95 0 $108M 4.876.84 30 Apr 0.47% 0.12% -0.46% 6.61% 0.56% 9.02% 4.05% (4.11%) Kenneth B. Gray. Jr. & Stephen L. Walsh Mar 14 14 Oct 99 - Dec 99 ROSEMONT OFFSHORE FUND LTD CLASS -A- 30 Apr 06 0 $91M 1.857/1 30 Apr 0.46% (0.22%) -0.76% 6.58% 0.49% 8.04% 4.61% (3.63%) SERIES 1 Mar 14 14 Aug 08 - Nov 08 Kenneth B. Gray. Jr. & Stephen L. Walsh 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 47 EFTA00602746 Merger Arbitrage Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdown Merger-Arbitrage Ytd Avg. 2014 2.02% Ytd Avg. 2014 Merger-Arbitrage/Global 2.33% LION FUND. LTD (THE) 31 Jan 96 M $176M 37.84 31 Mar 1.82% 0.59% -5.17% 2.36% 4.6% 7.51% 9.48% (34.07%) Nick Walker Mar 14 14 Oct 07. Feb 09 PAULSON ENHANCED LTD 30 Apr 01 S $2200M 1.139.19 30 Apr 0.69% 3.09% 33.11% 19.6% -21.55% 20.57% 15.92% (30.43%) John Paulson Feb 13 14 April -Septi PAULSON INTERNATIONAL. LTD John Paulson 30 Apr 96 M $1'495M Feb 13 915.61 30 Apr 14 0.17% 2.02% 15.68% 9.07% -10.17% 12.56% 7.88% (15.52%) mayit-Secill TIG ARBITRAGE ENHANCED FUND 31 Dec 06 M $57M 220.42 30 Apr 1.60% 3.61% 13.34% 7.34% 6.85% 11.38% 8.03% (10.97%) Drew Figdor Mar 14 14 Oct 07 - Oct 08 Ytd Avg. 2014 Merger-Arbitrage/USA 0.81% GABELLI ASSOCIATES LIMITED CLASS A 31 Aug 89 M $119M 605.69 02 May 0.23% 0.81% 3.12% 2.55% 3.03% 7.57% 3.24% (6.65%) Mario Gabelli Dec 12 14 Oct 07 - Oct 08 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 48 EFTA00602747 Multi-Strategy Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Credit Ytd Avg. 2014 4.31% Ytd Avg. 2014 Credit/Europe 3.84% CHENAVARI MULTI STRATEGY CREDIT FUND - MS2 E 31 Jan 12 M $189M 133.62 31 Mar 1.70% 3.84% 20.57% 6.72% 14.32% 3.93% (0.45%) Chenavati Investment Managers Feb 14 14 Jul 13 - Aug 13 Ytd Avg. 2014 Credit/Global 4.78% CANYON BALANCED FUND LTD - CLASS A 31 May 04 0 $1'415M 3,532.94 30 Apr 0.40% 4/8% 19.99% 20.52% -4.57% 13.57% 10.26% (30.14%) M.R. Julis & J.S. Friedman Mar 14 14 Oct 07 - Nov 08 Diversified Ytd Avg. 2014 1.36% Ytd Avg. 2014 Diversified/Asia 3.62% PHALANX JAPAN AUSTRALASIA MULTI-STRATEGY 31 Mar 05 0 $119M 1,473.02 31 Mar (1.88%) 1.30% 12.82% 11.48% 4.79% 34.81% 26.75% (30.13%) FUND LTD Mar 14 14 Apr 06. Mar 07 Christopher S. McGuire SEGANTII ASIA•PACIFIC EQUITY MULTI•STRATEGY 30 Nov 07 M $611M 229.06 02 May (0.53%) 5.93% -1.68% 4.81% 40.75% 13.77% 8.32% (10.16%) FUND Mar 14 14 May 13 - Mar 14 Simon Sadler & Kurt Ersoy Ytd Avg. 2014 Diversified: Emerging 2.42% SPINNAKER GLOBAL EMERGING MARKETS FUND, 30 Jun 99 0 $1'333Ivl 2.050.31 15 Apr 0.11% 2.42% 3.37% 20.69% -9.31% 22.64% 11.61% (33.11%) LTD Feb 14 14 May 08 - Feb 09 Bradley Wickens Ytd Avg. 2014 Diversified/Global 1.26% AHL DIMENSION USD SHARES CLASS B 30 Jun 06 M $70M 1.45 25 Apr 0.09% 0.64% 3.03% 3.02% -5.83% 4.87% 9.29% (10.62%) Tim Wong. Nkk Granger Feb 14 14 Dec 08 - Jan 10 ALLBLUE LIMITED 31 Aug 05 M $8'300M 199.38 30 Apr 0.26% 2.01% 1.53% 5.96% 1.87% 8.29% 4.64% (4.51%) Michael Platt Mar 14 14 Jun 07 - Aug 07 ARROWGRASS MASTER FUND 31 Jan 08 0 63'399M 165.84 02 May 0.75% 2.91% 8.58% 5.6% 0.12% 8.42% 4.07% (3.99%) Nick Men, Henry Kenner Apr 14 14 Apr11 -Sep11 ATLAS ENHANCED FUND LTD 28 Feb 11 M $1'151M 136.57 31 Mar (0.45%) 5.94% 20.85% 12.61% -5.28% 10.62% 8.73% (13.44%) Dmitry Balyasny Dec 13 14 Jul 11 -Apr 12 ATLAS GLOBAL INVESTMENTS LTD UNRESTRICTED 31 Dec 03 M $3'300M 3,778.60 31 Mar (0.26%) 3.34% 12.94% 4.84% 4.76% 13.84% 8.52% (12.51%) Dmity Balyasny Mar 14 14 Jun 04 - Aug 04 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source FISBC HSBC Alternative Investment Group I 49 EFTA00602748 Multi-Strategy Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl Yid Avg. 2014 Drversified:Global 1.26% BLACK DIAMOND. LTD - CLASS B (UNRESTRICTED) 31 Dec 95 O $102M 349.29 30 Apr (0.02%) 2.45% 6.94% 10.27% .0.69% 7.06% 4.02% (18.58%) Clint D. Carlson Nov 13 14 Aug 08 - Dec 08 BLACKROCK MULTI-STRATEGY FUND LTD - CLASS A 30 Apt 05 M $1'066M 1.524.76 31 Mar (0.40%) (0.41%) 7.04% 7.86% 2.43% 4.84% 5.44% (13.96%) Matt McBrady Dec 13 14 Jun 08 - Dec 08 BLACKROCK CAPITAL STRUCTURE INVESTMENTS 31 Dec 08 M $418M 128.28 05 May (0.02%) (2.59%) 7.19% 3.74% 22.94% 4.77% 7.93% (7.83%) FUND LTD May 14 14 Mar 09 - Apr 09 Chad Meuse. Benoy Thomas BLUECREST CAPL INTL LTD A USD 30 Nov 00 O $13'400M 436.48 30 Apr 0.09% 0.79% -1.56% 5.82% 6.1% 11.60% 5.50% (4.83%) Michael Platt Mar 14 14 May 03 - Aug 03 BOUSSARD 8, GAVAUDAN HOLDING.. LTD ordinary shares 31 Jan 07 D €573M Aug 13 17.32 07 May 14 (0.15%) 3.74% 13.46% 9.45% -2.59% 6.65% 6.92% (20.69%) May 07 - Sep 08 Emmanuel Gavaudan BREVAN HOWARD MIS FUND. LTD - CL. AILISD 29 Feb 08 M $4'540M 125.76 02 May 0.03% (2.43%) 0.91% 4.61% 5.2% 3.78% 4.58% (6.29%) Alan Howard Mar 14 14 Feb 08 - Sep 08 BRUMMER MULTISTRATEGY 2XL. LTD - C - 30 Apt 09 M $502M 1.411.73 30 Apr (2.20%) (1.99%) 16.54% 3.55% 1.02% 7.14% 6.86% (6.56%) Klaus Janet/. Patrik Brommer Jan 14 14 Apr 11 - Nov II BTG PACTUAL GLOBAL EQUITY OPPORTUNITIES FD 29 Feb 12 O $356M 116.86 30 Apr (2.50%) (0.84%) 8.74% 7.42% 7.01% 3.70% (2.69%) -B-NINI Dec 13 14 Feb 14 - Apr 14 BTG Pactual Global Asset Management COS DIRECTIONAL OPP. FEEDER FUND. Ltd -ANI 31 Jul 05 O $2602M 4.725.44 30 Apr (0.71%) 1.58% 15.97% 35.87% -10.42% 19.41% 13.77% (24.58%) USD Apr 14 14 Apr11-Sept1 Michael Hintze COS DIVERSIFIED FUND (SPC) LTD ALPHA CLASS B 28 Feb 07 O $765M 1.697.97 30 Apr (0.10%) 1.08% 5.99% 11.4% -3.45% 7.66% 6.68% (14.78%) USD Apr 14 14 Jun 08 - Dec 08 James Peattie 8 Peter Warren DOUBLE BLACK DIAMOND LTD - SERIES A 31 Mar 98 O $3'067M 447.37 30 Apr 0.15% 2.51% 7.91% 12.04% -1.07% 9.76% 5.27% (17.93%) (UNRESTRICTED) Jan 14 14 Aug 08 - Dec 08 Clint Carlson GLG MARKET NEUTRAL FUND - CLASS Z USD 31 Dec 97 M $1'089M 963.47 02 May 0.32% 3.22% 10.3% 18.4% 0.78% 14.87% 14.62% (54.03%) UNRESTRICTED Apr 14 14 Nov 07 - Dec 08 Steve Roth HALCYON PARTNERS OFFSHORE FUND LTD 31 May 04 O $2600M 184.93 17 Apr (0.58%) 0.64% 7.4% 11.24% -5.91% 6.42% 5.50% (15.01%) John M. Bader Dec 12 14 Oct 07 - Dec 08 HIGHBRIDGE CAPITAL CORPORATION CLASS 31 Aug 92 O /Y $4'500M 90.527.99 30 Apr 0.19% 2.13% 6.5% 9.79% -5.11% 10.70% 7.00% (30.04%) -A-Series N (Composite) Jun 13 14 Jun 08 - Nay 08 Mark Vanacore 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 50 EFTA00602749 Multi-Strategy Inception Liquidity Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Dates Size Index Drawdownl Ytd Avg. 2014 Diversified,Global 1.26% HUTCHIN HILL DIVERSIFIED ALPHA MASTER FUND 30 Jun 08 O $1$65M 1.907.31 02 May 0.60% 7.11% 19.38% 11.06% -4.92% 11.69% 6.33% (7.63%) LTD 15% Incentive Allocation May 14 14 Apr 11 - Feb 12 Neil Chits JABCAP GLOBAL BALANCED FUND LTD CLASS DI NI 30 Apr 07 W $499M 221.39 30 Apr (4.09%) (2.93%) 47.8% 15.5% -27.33% 12.01% 15.01% (35.04%) Philippe Jabre Apr 14 14 Apr 10 - Jun 12 JABCAP MULTI STRATEGY FUND LTD CLASS D/1 NI 31 Jan 07 M $549M 161.71 15 Apr (3.84%) (0.27%) 43.03% 11.8% -25.65% 6.90% 17.33% (40.20%) Philippe Jabre Feb 14 14 Feb 08 - Jan 09 LINDEN INTERNATIONAL LTD 31 May 03 O $565M 338.95 30 Apr 2.05% 10.27% 16% 4.11% -7.86% 11.82% 9.53% (2430%) Joe Wong Apr 14 14 Feb 08 - Dec 08 LMR FUND LTD 31 Jan 10 M $11 35M 216.33 30 Apr 1.10% 037% 10.04% 8.09% 38.69% 19.93% 10.45% (933%) LMR Partners LLP. LMR Partners Limited Mar 14 14 Apr 10 - May i0 MAN GLG MULTI-STRATEGY FUND CLASS G 31 Dec 02 M $178M 102.37 02 May 0.10% (238%) 5.09% 4.98% -3.59% 4.57% 7.37% (30.54%) Neil Mason and David Kingsley Apr 14 14 Oct 07 - Dec 08 MAN GLG MULTI-STRATEGY UCITS CLASS D 31 May 12 D $344 M 102.94 02 May (0.03%) (3.25%) 4.73% 1% 1.21% 3.36% (335%) Neil Mason and David Kingsley Apr 14 14 Feb 14 - May 14 MILLENNIUM INTL LTD 31 Dec 89 O $21730M 2.659.96 02 May 0.37% 230% 13.27% 6.32% 8.39% 14.40% 4.38% (7.24%) Israel A Englander Mar 14 14 May 98 - Aug 98 PINE RIVER FUND CLASS -B1 - SHARES 31 May 02 O $4'419M 1622.47 30 Apr (0.37%) L89% 9.58% 21.75% 5.7% 11.40% 10.44% (29.16%) Aaron Yeary. James Clark Apr 14 14 Jun 08 - Dec 08 PLATINUM PARTNERS VALUE ARBITRAGE INT. FUND 31 Dec 02 O $749M 6.748.31 31 Mar 0.29% 2.14% 10.47% 11.58% 21.03% 18.49% 4.93% (4.44%) LTD Mar 14 14 Aug 08 - Oct 08 Mark Nordlicht OVT OFFSHORE LTD CLASS 1-NR 31 Oct 03 Y r O $2'459M 2.323.44 30 Apr (0.93%) (037%) 1.39% 14.69% 6.55% 8.36% 9.59% (40/5%) Dan Gold Mar 14 14 Feb 08 - Dec 08 RENAISSANCE INSTITUTIONAL DIVERSIFIED ALPHA 28 Feb 12 M $1248M 106.88 30 Apr (0.18%) L61% 6.53% -1.26% 3.11% 9.42% (8.76%) FUND INTL. L.P.,A Feb 14 14 Mar 13 - Sep 13 Renaissance Technologies LLC STRATUS FUND LIMITED CLASS B 30 Nov 03 M $210M 2.093.48 02 May 0.39% 1.16% 1.82% -2.89% 15.63% 7.34% 5.87% (1032%) Jean-Philippe Bouchaud. Philippe Jordan. Marc Potters. Feb 14 14 Feb 12 - Sep 13 Jacques Sauliere TWO SIGMA HORIZON CAYMAN LTD 30 Apt 08 O $296M 1.312.06 30 Apr 0.23% 1.12% 1.51% 9.29% -13.97% 4.63% 8.89% (1735%) Two Sigma Investments. LLC Mar 14 14 May 11 - Nov 11 VISIUM GLOBAL OFFSHORE FUND LTD 31 Mar 09 M $1'038M 306.29 02 May 0.89% (L39%) 16.93% 19.52% 1.75% 24.59% 10.28% (730%) Jacob Gottlieb Feb 14 14 Apr 10 - Jun 10 WEISS MULTI-STRATEGY PARTNERS LLC 30 Sep 06 O $227M 178.62 02 May 0.35% (1.34%) 14.5% 1.75% .0.15% 7.94% 6.75% (17.75%) Weiss Multi-Strategy Advisers.LLC May 14 14 Jun 08 - Dec 08 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 51 EFTA00602750 Multi-Strategy Diversified/Global WHITEBOX MULTI-STRATEGY FUND Andrew Redleal. Paul Twitchelt Rob Vogel. Jason Cross Diyersified/Japan LIM JAPAN FUND George Long Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Drawdownl 31 Dec 01 31 Oct 04 O O $466M Jan 14 $253M Feb 14 555.57 198.01 02 May 14 30 Apr 14 Ytd Avg. 2014 1.26% (0.16%) 4.73% Ytd Avg. 2014 (0.39%) 0.55% (0.39%) 18.09% 11.39% 11.38% 5.62% 1.2% 2.73% 14.90% 7.45% 9.87% 5.83% (34.40%) Jun 08 - Dec 08 (10.09%) Jun 08 - Feb 09 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 52 EFTA00602751 Volatility Arbitrage Inception Dates Liquidity Asset Size Last NAV or Index Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max , Drawdown Arbitrage Ytd Avg. 2014 (0.49%) Ytd Avg. 2014 Arbitrage/Global (0.49%) BLUEMOUNTAIN EQUITY ALTERNATIVES FUND 28 Feb 06 O $732M 2,219.47 30 Apr (0.11%) (0.07%) 7.56% 12.24% 7.67% 10.25% 6.70% (9.57%) BlueMountain Capital Management Mar 14 14 Sep 08 Feb 09 CASSIOPEIA FUND CLASS C 31 Jul 04 M $607M 223.31 02 May (0.02%) (2.95%) 0.53% 24.85% 6.52% 11.39% 9.77% (15.42%) Pierre de Saab & Alan Dos Santos Mar 14 14 Mar 10 Jun 10 LIONSCREST TAILPRO •US EQUITY FUND 31 Aug 08 M $122M 221.16 31 Mar 0.00% (1.81%) -6.33% -5.48% 4.56% 15.27% 44.34% (14.28%) Lionscrest Capital Mar 14 14 Sep 11 • Feb 14 PIMCO MULTI-ASSET VOLATILITY FUND LTD 31 Jul 11 M $1.099M 131/4 31 Mar 1.21% 2.85% 4.17% 13A1% 20.36% 10.88% 7.40% (8.64%) Josh minions, Josh Davis, Malt Dorsten Mar 14 14 Oct 12 . Aug 13 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC HSBC Alternative Investment Group I 53 EFTA00602752 About This Document This document is provided to you by HSBC Private Bank. a division of HSBC Bank USA. N.A. ('the Bank"). for informational purposes and is not a recommendation. offer or solicitation to purchase or sell any product, security, commodity. currency or other instrument. This document does not consider your specific objectives. circumstances or needs, does not provide legal or tax advice. and does not identify or define all the risks that may be associated with investing in hedge funds or any investment. Prior to making an investment decision, you should consult with your own legal. financial. tax, accounting and other professionals regarding the appropriateness of investing in any product, security, commodity, currency or other instrument. No person is authorized to use this document for any purpose other than the purpose stated above. 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