This document provides a weekly performance review of investment funds across different hedge fund strategies and funds. It includes indexes tracking performance by strategy and fund, a list of the top and bottom 20 performing funds, and brief news items. The document is produced by HSBC Alternative Investment Group for the week ending February 1st, 2013.
This document provides a weekly investment funds performance review published by HSBC Alternative Investment Group. It includes indexes of fund performance by strategy and by individual funds. The top and bottom 20 performing funds are listed, along with recent newsletter content and information about the document. Fund performance data is from the week of February 11 to 15, 2013.
This document provides a weekly investment funds performance review from an alternative investment group. It includes indexes of strategies and funds, a top/bottom 20 list of best and worst performing funds, and a newsletter section with various fund news and commentary. The disclaimer at the end indicates this is an internal HSBC document and unauthorized dissemination is prohibited.
This document provides a performance review of investment funds for the week ending December 30, 2011. It includes indexes of funds organized by strategy and by fund name. The top and bottom 20 performing funds are listed, along with a newsletter section and disclaimer.
This document provides an overview of corporate governance. It discusses how the emergence of large corporations with separation of ownership and control challenged traditional views of property ownership and civic responsibility. Specifically, it outlines the civic republican view that widespread property ownership promotes political participation and social stability, and how markets facilitate economic freedom and fairness. However, the rise of the modern corporation complicated these views by separating management from owners.
This document discusses the challenges and opportunities for doing business in post-conflict and fragile states in Africa. It focuses on opportunities in key sectors like mining, infrastructure, and telecommunications. While post-conflict environments present high risks like insecurity, corruption, and weak infrastructure, the document argues they also provide high-reward opportunities for companies willing to manage political and sector risks through partnerships with local players and governments. Case studies of business activities in the Democratic Republic of Congo and Mozambique are presented to illustrate lessons learned.
Based on your responses, your risk tolerance profile suggests that you are willing and able to take on an above-average level of risk in your investments in order to pursue above-average returns. You have a long-term investment horizon and do not need immediate access to your investment funds. You are comfortable bearing short-term volatility and occasional negative returns. Your risk tolerance would support an aggressive growth-oriented asset allocation strategy.
EFG Hermes - Thoughts on Valuation - April 2016Mohamed Marei
This document initiates coverage on EFG Hermes, an Egypt-based investment bank, assigning it a "Buy" rating. It values EFG Hermes at 17.54 Egyptian pounds per share, implying 73.8% upside potential from the current market price. While EFG Hermes operates in a cyclical industry, the company has hedged volatility by penetrating new non-cyclical businesses like leasing and microfinance. The document examines EFG Hermes' business segments and justifies using a price-to-book multiple valuation approach given the current highly volatile environment.
1. The document provides an introduction to iOS application development using Objective-C and Xcode. It discusses the basics of what is needed to get started, including downloading the iOS SDK and Xcode.
2. Key iOS development concepts are introduced such as the MVC pattern, delegates, storyboards, ARC and unit testing. Basic Xcode terminology and features are also explained.
3. Step-by-step instructions are given to create a simple iOS app with a label and buttons, and to link the buttons to change the label text. Creating a tab bar application is also demonstrated.
This document provides a weekly investment funds performance review published by HSBC Alternative Investment Group. It includes indexes of fund performance by strategy and by individual funds. The top and bottom 20 performing funds are listed, along with recent newsletter content and information about the document. Fund performance data is from the week of February 11 to 15, 2013.
This document provides a weekly investment funds performance review from an alternative investment group. It includes indexes of strategies and funds, a top/bottom 20 list of best and worst performing funds, and a newsletter section with various fund news and commentary. The disclaimer at the end indicates this is an internal HSBC document and unauthorized dissemination is prohibited.
This document provides a performance review of investment funds for the week ending December 30, 2011. It includes indexes of funds organized by strategy and by fund name. The top and bottom 20 performing funds are listed, along with a newsletter section and disclaimer.
This document provides an overview of corporate governance. It discusses how the emergence of large corporations with separation of ownership and control challenged traditional views of property ownership and civic responsibility. Specifically, it outlines the civic republican view that widespread property ownership promotes political participation and social stability, and how markets facilitate economic freedom and fairness. However, the rise of the modern corporation complicated these views by separating management from owners.
This document discusses the challenges and opportunities for doing business in post-conflict and fragile states in Africa. It focuses on opportunities in key sectors like mining, infrastructure, and telecommunications. While post-conflict environments present high risks like insecurity, corruption, and weak infrastructure, the document argues they also provide high-reward opportunities for companies willing to manage political and sector risks through partnerships with local players and governments. Case studies of business activities in the Democratic Republic of Congo and Mozambique are presented to illustrate lessons learned.
Based on your responses, your risk tolerance profile suggests that you are willing and able to take on an above-average level of risk in your investments in order to pursue above-average returns. You have a long-term investment horizon and do not need immediate access to your investment funds. You are comfortable bearing short-term volatility and occasional negative returns. Your risk tolerance would support an aggressive growth-oriented asset allocation strategy.
EFG Hermes - Thoughts on Valuation - April 2016Mohamed Marei
This document initiates coverage on EFG Hermes, an Egypt-based investment bank, assigning it a "Buy" rating. It values EFG Hermes at 17.54 Egyptian pounds per share, implying 73.8% upside potential from the current market price. While EFG Hermes operates in a cyclical industry, the company has hedged volatility by penetrating new non-cyclical businesses like leasing and microfinance. The document examines EFG Hermes' business segments and justifies using a price-to-book multiple valuation approach given the current highly volatile environment.
1. The document provides an introduction to iOS application development using Objective-C and Xcode. It discusses the basics of what is needed to get started, including downloading the iOS SDK and Xcode.
2. Key iOS development concepts are introduced such as the MVC pattern, delegates, storyboards, ARC and unit testing. Basic Xcode terminology and features are also explained.
3. Step-by-step instructions are given to create a simple iOS app with a label and buttons, and to link the buttons to change the label text. Creating a tab bar application is also demonstrated.
This document provides a weekly performance review of investment funds across different strategies for the week of March 18 to March 22, 2013. It includes indexes of funds by strategy and by individual fund, with performance rankings. It also includes a newsletter section and information about the document.
This document provides an overview of Susan and Jim's financial situation including their net worth, goals, investment portfolio, and recommendations from an advisor. It contains analyses of their current assets and allocations, projected growth over time under different scenarios, sources of funds, and estate planning considerations. The advisor utilized software to simulate potential outcomes and determine an optimal investment plan to help achieve Susan and Jim's goals.
Mergers and Acquisitions: Acquiring a Canadian CompanyNow Dentons
Mergers and Acquisitions: Acquiring a Canadian Company is a general overview of the principal securities, tax, competition, foreign investment, labour relations, employment and pensions considerations that would be applicable in the acquisition of a Canadian business.
The document discusses practices for measuring and disclosing the fair value of financial instruments when markets are no longer active.
It provides guidance on applying the fair value measurement objective when markets are inactive, including using all available market information and appropriately adjusting for risk. It also discusses issues like distinguishing forced transactions from orderly ones, and using management estimates versus observable data.
The document aims to clarify practices for measuring fair values consistently with the objective of determining the price from an orderly transaction between market participants. It emphasizes using observable inputs where possible and making adjustments as needed based on available evidence.
Doing business in_post_conflict_and_fragile_states___challenges_and_risks____...Malik Khalid Mehmood
This document discusses challenges and opportunities for doing business in post-conflict and fragile states in Africa. It begins by outlining common entry strategies such as partnerships and acquisitions. It then discusses main sectors for investment like mining, financial services, and construction. The document also examines learning from experience, main challenges like high costs and political risk, and strategies for risk mitigation including identifying risks and managing sector risk. Finally, it provides case studies on business environments in the Democratic Republic of Congo and Mozambique.
This document is the Nationwide Financial Services, Inc. Statistical Supplement for the first quarter of 2006. It provides financial highlights and operating results for NFS for Q1 2006 and comparisons to prior periods. Some key details include:
- Total operating revenues for Q1 2006 were $1.1 billion, consistent with prior periods. Pre-tax operating earnings were $186.5 million.
- Sales by channel grew in Q1 2006 compared to prior periods, with the largest growth in independent broker/dealers and The 401(k) Company.
- By segment, the Individual Investments and Retirement Plans segments saw earnings growth in Q1 2006 compared to Q1 2005, while the other segments
This guide is intended to assist founders, executives and investors with a broad spectrum of questions, issues and opportunities that arise when establishing, operating and financing a technology business.
It covers such topics as:
Threshold Issues When Starting
Choice of Business Organization
Advantages of Canadian vs. Us Incorporation
Issuing Shares to Founders
Shareholder Agreements
Board of Directors, Officers and Advisors
Financing the Business
Employees and Contractors
Protection of Intellectual Property
For the most up-to-date content please visit
www.techstartupcenter.com.
This document summarizes a research project conducted at a Reliance Fresh retail store in Ranchi, India. The research analyzed the store's catchment area, footfall (number of visitors), and customers' average ticket size (amount of purchases). The catchment area included nearby residential and commercial areas. On average, the store saw 500-600 visitors per day. Analyzing these operational metrics provided insights into the store's performance and helped evaluate the effectiveness of the company's retail strategy. Descriptive research methods were used, including analyzing data on footfall, ticket size, and their association to understand customer purchasing behavior.
This document is the Nationwide Financial Services, Inc. Statistical Supplement for the second quarter of 2006. It provides quarterly financial highlights including operating revenues, pre-tax operating earnings, net operating earnings, and other key financial metrics for Nationwide's four business segments - Individual Investments, Retirement Plans, Individual Protection, and Corporate and Other. It also includes data on account values, sales, policy reserves, and other items.
This document provides quarterly financial highlights and statistics for Nationwide Financial Services, Inc. for the periods ending June 30, 2008, September 30, 2007, December 31, 2007, March 31, 2008 and June 30, 2007. It includes key metrics such as operating revenues, pre-tax operating earnings, net operating earnings and net income by business segment. The document also includes a table of contents detailing additional statistics and analyses provided in subsequent sections, including account values, sales, policy reserves, investment returns and other financial details.
This document is a statistical supplement from Nationwide Financial Services for the third quarter of 2006. It provides quarterly financial highlights including operating revenues, total revenues, pre-tax operating earnings, net operating earnings, and earnings per share for the company. It also includes segment-level information on earnings trends, account values, sales, reserves, and other data for the Individual Investments, Retirement Plans, Individual Protection, and Corporate and Other segments. Historical data and glossary definitions are provided at the end.
(1) First Horizon National Corporation reported a net loss of $35 million in Q3 2009, an improvement from a $105 million net loss in Q2 2009. (2) Noninterest income increased 7% quarter-over-quarter due to debt repurchase gains, while noninterest expense decreased 13% due to lower restructuring charges. (3) The provision for loan losses decreased 29% from $260 million to $185 million as credit quality stabilized.
This document is Weyerhaeuser Company's 2007 investor guide. It provides an overview of Weyerhaeuser, including its vision, values, leadership team, and business segments. The guide contains detailed financial data from 2002-2007 as well as market, strategy and operational information for each of Weyerhaeuser's business segments, which include wood products, cellulose fibers, real estate, timberlands, containerboard, packaging and recycling. The guide is intended to provide information to analysts, investors and others researching Weyerhaeuser's long-term financial performance.
This document provides quarterly financial highlights and statistical data for Nationwide Financial Services, Inc. for the periods ending September 30, 2008. Some key details include:
- For the quarter ending September 30, 2008, Nationwide reported a net loss of $346.4 million compared to net income of $147 million for the same quarter the previous year.
- Total revenues decreased significantly to $484.6 million for the most recent quarter from $1,131.8 million in the prior year quarter, driven largely by net realized investment losses of $533.9 million in the current period.
- Total assets declined to $102.1 billion as of September 30, 2008 from $121.5 billion
The document discusses the strong performance of markets in the first quarter of 2012 and what may lie ahead for the rest of the year. It analyzes recent market trends and sector performance using technical indicators. While fundamentals have improved, concerns remain around unresolved issues in Europe and China. Sentiment indicators show investors remain cautiously negative. In summary, the markets have seen a strong uptrend but short-term technicals warrant caution amid ongoing global economic uncertainties.
This document provides a business plan for Natura Costa Rica (NCR), which will be the world's first regenerative luxury development located on Costa Rica's south Pacific coast. NCR will consist of 205 homes built using sustainable practices and will generate its own renewable energy. It will include high-end amenities like restaurants and a cooking school operated by a renowned chef. The development has a hybrid for-profit/non-profit model where 51% of profits will fund sustainable housing projects for poor communities. The business plan provides an overview of NCR's vision, location, design, market opportunity, competition, finances, and implementation timeline.
This document discusses approaches to monitoring systemic risk in the financial system. It begins with an overview of systemic risk and what drives it, such as the size, interconnectedness, liquidity, concentration, and leverage of financial institutions. It then reviews potential roles of a systemic risk regulator and various initiatives by banking, securities, and insurance regulators to monitor systemic risk. The document evaluates different approaches to collecting systemic risk information and identifies gaps. It considers tools like stress tests, risk reporting templates, trade repositories, and data warehouses. Finally, it discusses key concepts around improving data infrastructure while protecting confidentiality and balancing macroprudential and microprudential oversight.
JPM Prime Brokerage 2014 Institutional Investor Sentiments ReportBrian Shapiro
The document summarizes the key findings of J.P. Morgan's 2014 Investor Sentiments Report, which surveyed nearly 300 institutional investors about their hedge fund investment activity and outlook. Some of the main points include:
- Event driven and long/short equity strategies were most popular in 2013, while macro and managed futures strategies saw redemptions.
- Pension funds represented the fastest growing group of hedge fund investors, increasing allocations the most of any sector.
- Most investors plan to maintain or increase hedge fund investments in 2014 and are more open to investing in new hedge fund launches and longer-lockup "hybrid" funds.
JP Morgan Prime Brokerage 2013 Hedge Fund Terms AnalysisBrian Shapiro
The document analyzes the terms of 546 hedge funds in 2013, including redemption terms, lock-up periods, fees, and fund sizes. Some key findings are:
- The most common redemption term is quarterly with a 90 day notice period (16% of funds). Monthly redemptions with 30 days notice are also popular (15% of funds).
- Over half (51%) of funds have quarterly liquidity. Credit and relative value funds most commonly have quarterly redemptions.
- Nearly half (47.4%) of all funds have some type of lock-up period. Credit funds most often have lock-ups (71.4%), usually hard lock-ups of 1
CS Liquid Alternative Beta Performance Review 2013Brian Shapiro
The Credit Suisse Liquid Alternative Beta (“LAB”) Index, which seeks to replicate the
returns of the Credit Suisse Hedge Fund Index, gained 7.35% for the year.
The Event Driven sub-strategy was the strongest performer, up 10.88%.
JP Morgan Prime Brokerage Perspectives 4Q 2013Brian Shapiro
The document discusses property and casualty reinsurance structures as potential permanent capital solutions for hedge fund managers. It outlines the incentives for both managers and investors, including a perpetual capital source, tax efficiencies, access to broader investor bases, and liquidity. The economics of reinsurance vehicles are then examined, including how they generate revenue from underwriting premiums and investing the float. Several existing publicly-listed alternative reinsurers, such as Greenlight Re and Third Point Re, are overviewed as examples.
This document provides a weekly performance review of investment funds across different strategies for the week of March 18 to March 22, 2013. It includes indexes of funds by strategy and by individual fund, with performance rankings. It also includes a newsletter section and information about the document.
This document provides an overview of Susan and Jim's financial situation including their net worth, goals, investment portfolio, and recommendations from an advisor. It contains analyses of their current assets and allocations, projected growth over time under different scenarios, sources of funds, and estate planning considerations. The advisor utilized software to simulate potential outcomes and determine an optimal investment plan to help achieve Susan and Jim's goals.
Mergers and Acquisitions: Acquiring a Canadian CompanyNow Dentons
Mergers and Acquisitions: Acquiring a Canadian Company is a general overview of the principal securities, tax, competition, foreign investment, labour relations, employment and pensions considerations that would be applicable in the acquisition of a Canadian business.
The document discusses practices for measuring and disclosing the fair value of financial instruments when markets are no longer active.
It provides guidance on applying the fair value measurement objective when markets are inactive, including using all available market information and appropriately adjusting for risk. It also discusses issues like distinguishing forced transactions from orderly ones, and using management estimates versus observable data.
The document aims to clarify practices for measuring fair values consistently with the objective of determining the price from an orderly transaction between market participants. It emphasizes using observable inputs where possible and making adjustments as needed based on available evidence.
Doing business in_post_conflict_and_fragile_states___challenges_and_risks____...Malik Khalid Mehmood
This document discusses challenges and opportunities for doing business in post-conflict and fragile states in Africa. It begins by outlining common entry strategies such as partnerships and acquisitions. It then discusses main sectors for investment like mining, financial services, and construction. The document also examines learning from experience, main challenges like high costs and political risk, and strategies for risk mitigation including identifying risks and managing sector risk. Finally, it provides case studies on business environments in the Democratic Republic of Congo and Mozambique.
This document is the Nationwide Financial Services, Inc. Statistical Supplement for the first quarter of 2006. It provides financial highlights and operating results for NFS for Q1 2006 and comparisons to prior periods. Some key details include:
- Total operating revenues for Q1 2006 were $1.1 billion, consistent with prior periods. Pre-tax operating earnings were $186.5 million.
- Sales by channel grew in Q1 2006 compared to prior periods, with the largest growth in independent broker/dealers and The 401(k) Company.
- By segment, the Individual Investments and Retirement Plans segments saw earnings growth in Q1 2006 compared to Q1 2005, while the other segments
This guide is intended to assist founders, executives and investors with a broad spectrum of questions, issues and opportunities that arise when establishing, operating and financing a technology business.
It covers such topics as:
Threshold Issues When Starting
Choice of Business Organization
Advantages of Canadian vs. Us Incorporation
Issuing Shares to Founders
Shareholder Agreements
Board of Directors, Officers and Advisors
Financing the Business
Employees and Contractors
Protection of Intellectual Property
For the most up-to-date content please visit
www.techstartupcenter.com.
This document summarizes a research project conducted at a Reliance Fresh retail store in Ranchi, India. The research analyzed the store's catchment area, footfall (number of visitors), and customers' average ticket size (amount of purchases). The catchment area included nearby residential and commercial areas. On average, the store saw 500-600 visitors per day. Analyzing these operational metrics provided insights into the store's performance and helped evaluate the effectiveness of the company's retail strategy. Descriptive research methods were used, including analyzing data on footfall, ticket size, and their association to understand customer purchasing behavior.
This document is the Nationwide Financial Services, Inc. Statistical Supplement for the second quarter of 2006. It provides quarterly financial highlights including operating revenues, pre-tax operating earnings, net operating earnings, and other key financial metrics for Nationwide's four business segments - Individual Investments, Retirement Plans, Individual Protection, and Corporate and Other. It also includes data on account values, sales, policy reserves, and other items.
This document provides quarterly financial highlights and statistics for Nationwide Financial Services, Inc. for the periods ending June 30, 2008, September 30, 2007, December 31, 2007, March 31, 2008 and June 30, 2007. It includes key metrics such as operating revenues, pre-tax operating earnings, net operating earnings and net income by business segment. The document also includes a table of contents detailing additional statistics and analyses provided in subsequent sections, including account values, sales, policy reserves, investment returns and other financial details.
This document is a statistical supplement from Nationwide Financial Services for the third quarter of 2006. It provides quarterly financial highlights including operating revenues, total revenues, pre-tax operating earnings, net operating earnings, and earnings per share for the company. It also includes segment-level information on earnings trends, account values, sales, reserves, and other data for the Individual Investments, Retirement Plans, Individual Protection, and Corporate and Other segments. Historical data and glossary definitions are provided at the end.
(1) First Horizon National Corporation reported a net loss of $35 million in Q3 2009, an improvement from a $105 million net loss in Q2 2009. (2) Noninterest income increased 7% quarter-over-quarter due to debt repurchase gains, while noninterest expense decreased 13% due to lower restructuring charges. (3) The provision for loan losses decreased 29% from $260 million to $185 million as credit quality stabilized.
This document is Weyerhaeuser Company's 2007 investor guide. It provides an overview of Weyerhaeuser, including its vision, values, leadership team, and business segments. The guide contains detailed financial data from 2002-2007 as well as market, strategy and operational information for each of Weyerhaeuser's business segments, which include wood products, cellulose fibers, real estate, timberlands, containerboard, packaging and recycling. The guide is intended to provide information to analysts, investors and others researching Weyerhaeuser's long-term financial performance.
This document provides quarterly financial highlights and statistical data for Nationwide Financial Services, Inc. for the periods ending September 30, 2008. Some key details include:
- For the quarter ending September 30, 2008, Nationwide reported a net loss of $346.4 million compared to net income of $147 million for the same quarter the previous year.
- Total revenues decreased significantly to $484.6 million for the most recent quarter from $1,131.8 million in the prior year quarter, driven largely by net realized investment losses of $533.9 million in the current period.
- Total assets declined to $102.1 billion as of September 30, 2008 from $121.5 billion
The document discusses the strong performance of markets in the first quarter of 2012 and what may lie ahead for the rest of the year. It analyzes recent market trends and sector performance using technical indicators. While fundamentals have improved, concerns remain around unresolved issues in Europe and China. Sentiment indicators show investors remain cautiously negative. In summary, the markets have seen a strong uptrend but short-term technicals warrant caution amid ongoing global economic uncertainties.
This document provides a business plan for Natura Costa Rica (NCR), which will be the world's first regenerative luxury development located on Costa Rica's south Pacific coast. NCR will consist of 205 homes built using sustainable practices and will generate its own renewable energy. It will include high-end amenities like restaurants and a cooking school operated by a renowned chef. The development has a hybrid for-profit/non-profit model where 51% of profits will fund sustainable housing projects for poor communities. The business plan provides an overview of NCR's vision, location, design, market opportunity, competition, finances, and implementation timeline.
This document discusses approaches to monitoring systemic risk in the financial system. It begins with an overview of systemic risk and what drives it, such as the size, interconnectedness, liquidity, concentration, and leverage of financial institutions. It then reviews potential roles of a systemic risk regulator and various initiatives by banking, securities, and insurance regulators to monitor systemic risk. The document evaluates different approaches to collecting systemic risk information and identifies gaps. It considers tools like stress tests, risk reporting templates, trade repositories, and data warehouses. Finally, it discusses key concepts around improving data infrastructure while protecting confidentiality and balancing macroprudential and microprudential oversight.
JPM Prime Brokerage 2014 Institutional Investor Sentiments ReportBrian Shapiro
The document summarizes the key findings of J.P. Morgan's 2014 Investor Sentiments Report, which surveyed nearly 300 institutional investors about their hedge fund investment activity and outlook. Some of the main points include:
- Event driven and long/short equity strategies were most popular in 2013, while macro and managed futures strategies saw redemptions.
- Pension funds represented the fastest growing group of hedge fund investors, increasing allocations the most of any sector.
- Most investors plan to maintain or increase hedge fund investments in 2014 and are more open to investing in new hedge fund launches and longer-lockup "hybrid" funds.
JP Morgan Prime Brokerage 2013 Hedge Fund Terms AnalysisBrian Shapiro
The document analyzes the terms of 546 hedge funds in 2013, including redemption terms, lock-up periods, fees, and fund sizes. Some key findings are:
- The most common redemption term is quarterly with a 90 day notice period (16% of funds). Monthly redemptions with 30 days notice are also popular (15% of funds).
- Over half (51%) of funds have quarterly liquidity. Credit and relative value funds most commonly have quarterly redemptions.
- Nearly half (47.4%) of all funds have some type of lock-up period. Credit funds most often have lock-ups (71.4%), usually hard lock-ups of 1
CS Liquid Alternative Beta Performance Review 2013Brian Shapiro
The Credit Suisse Liquid Alternative Beta (“LAB”) Index, which seeks to replicate the
returns of the Credit Suisse Hedge Fund Index, gained 7.35% for the year.
The Event Driven sub-strategy was the strongest performer, up 10.88%.
JP Morgan Prime Brokerage Perspectives 4Q 2013Brian Shapiro
The document discusses property and casualty reinsurance structures as potential permanent capital solutions for hedge fund managers. It outlines the incentives for both managers and investors, including a perpetual capital source, tax efficiencies, access to broader investor bases, and liquidity. The economics of reinsurance vehicles are then examined, including how they generate revenue from underwriting premiums and investing the float. Several existing publicly-listed alternative reinsurers, such as Greenlight Re and Third Point Re, are overviewed as examples.
JPM Prime Brokerage Global Hedge Fund Trends November 2013Brian Shapiro
Hedge funds posted broad gains in October and year-to-date, led by equity long/short and event-driven strategies. Leverage declined slightly while short positions increased 2%. Most regions saw increased equity prices and tightening credit spreads. Earnings exceeded estimates but revenue growth was flat, raising uncertainty around sustained earnings growth. Global earnings forecasts continue to decline.
JPM Prime Brokerage Global Hedge Fund Trends September 2013Brian Shapiro
- Hedge funds posted an aggregate loss of -0.73% in August as risk assets sold off broadly due to renewed macro concerns. Event driven strategies fared best with a loss of -0.04% while global macro suffered most with a decline of -1.20%.
- Gross leverage for equity strategies on JPMorgan's prime brokerage platform fell from 1.84 to 1.82 as net exposure declined from 0.78 to 0.74.
- Several large endowments are shifting exposures from hedge funds to long-only strategies in search of isolating alpha generation.
JPM prime brokerage global hedge fund trends august 2013Brian Shapiro
After gains in most markets in July, hedge funds posted aggregate returns of +1.36% for the month. Equity long/short and event driven strategies performed best, while global macro strategies declined slightly. Gross leverage across all prime brokerage accounts increased from 1.81 to 1.84 as some managers added short exposures despite rising markets. Leverage was above average for some equity-biased strategies but below average for others like multi-strategy funds.
Citi prime services report on liquid alternativesBrian Shapiro
Institutional investors' views of hedge funds have evolved from seeing them as satellite holdings to core portfolio components used to dampen volatility and provide "insurance." More investors now allocate to hedge funds to manage risks in their equity and bond holdings. Demand for liquid alternatives is growing significantly from both retail and some institutional investors, driven by regulations and changing wealth manager dynamics. Products are expected to trade in parallel with private funds, allowing managers to offer more liquid strategies while still utilizing their full investment talent. This is expanding the concept of active management across traditional and alternative managers.
This document provides a summary of investment fund performance for the week ending May 31, 2013. It includes indexes organized by strategy and fund, a top/bottom 20 list of best and worst performing funds, newsletter content, and background information about the document. Over 200 individual hedge funds and their performance numbers are referenced.
JPM Prime Brokerage Global Hedge Fund Trends May 2013.pdfBrian Shapiro
- Hedge funds posted positive returns in April as equity markets increased. Global macro and relative value strategies performed strongest.
- Gross leverage across hedge funds rose slightly from 1.88 to 1.89 as risk appetite increased. Net exposure and leverage also increased for equity funds.
- Sector exposures shifted as long positions grew in Financials, Consumer Cyclicals, and Technology, while shorting declined in Non-sector ETFs and Basic Materials.
JPM Prime Brokerage Global Hedge Fund Trends March 2013Brian Shapiro
All major hedge fund strategies posted gains in February except Global Macro, which fell. The HFRI Global Hedge Fund Index rose 0.14% while Relative Value rose the most at 0.66%. Leverage across hedge funds fell slightly from 1.91 to 1.88 as volatility increased. Short positions in the US were covered while flows in Europe and Asia were light. Fewer US investors allocated to structured credit while directional strategies became more popular.
MS Weekly US PB Mkt Clr Summary 2013.03.18Brian Shapiro
ETF selling increased last week, particularly on Thursday and Friday, as the S&P 500 approached its 2007 high. Selling was led by equity long/short and multi-strategy/macro funds through added shorts rather than reduced longs. Single-name activity was mixed, with more funds buying than selling by number but slightly skewed towards selling in aggregate. Consumer discretionary was the most bought sector last week, while financials saw the most selling. Median equity long/short leverage decreased slightly but remains near multi-year highs.
This document summarizes the key findings of Credit Suisse's 2013 survey of hedge fund investors. Some of the main points include:
- The survey included nearly 550 institutional investors representing over $1 trillion in assets. Most were family offices, pensions, or funds of funds.
- On average, investors expect hedge fund industry assets to grow 10% to $2.42 trillion in 2013, with long/short equity seen as the top-performing strategy.
- Major risks cited were crowded trades and potential regulatory changes. Most investors were still open to startups but wanted fee discounts.
- Pension funds particularly sought diversification from equity markets and high risk-adjusted returns from hedge funds. They took 4
Credit Suisse investor update february 2013 finalBrian Shapiro
This document provides information on upcoming manager roadshows for various funds in February and March 2013. It also lists new launches and relationships for hedge funds in the Americas, including details on Clearline Capital which is launching in March 2013 with $50M in seed capital. Finally, it announces upcoming hedge fund conferences in New York, Hong Kong and London for global capital introduction events.
- Video recording of this lecture in English language: https://youtu.be/kqbnxVAZs-0
- Video recording of this lecture in Arabic language: https://youtu.be/SINlygW1Mpc
- Link to download the book free: https://nephrotube.blogspot.com/p/nephrotube-nephrology-books.html
- Link to NephroTube website: www.NephroTube.com
- Link to NephroTube social media accounts: https://nephrotube.blogspot.com/p/join-nephrotube-on-social-media.html
Promoting Wellbeing - Applied Social Psychology - Psychology SuperNotesPsychoTech Services
A proprietary approach developed by bringing together the best of learning theories from Psychology, design principles from the world of visualization, and pedagogical methods from over a decade of training experience, that enables you to: Learn better, faster!
share - Lions, tigers, AI and health misinformation, oh my!.pptxTina Purnat
• Pitfalls and pivots needed to use AI effectively in public health
• Evidence-based strategies to address health misinformation effectively
• Building trust with communities online and offline
• Equipping health professionals to address questions, concerns and health misinformation
• Assessing risk and mitigating harm from adverse health narratives in communities, health workforce and health system
Osteoporosis - Definition , Evaluation and Management .pdfJim Jacob Roy
Osteoporosis is an increasing cause of morbidity among the elderly.
In this document , a brief outline of osteoporosis is given , including the risk factors of osteoporosis fractures , the indications for testing bone mineral density and the management of osteoporosis
TEST BANK For An Introduction to Brain and Behavior, 7th Edition by Bryan Kol...rightmanforbloodline
TEST BANK For An Introduction to Brain and Behavior, 7th Edition by Bryan Kolb, Ian Q. Whishaw, Verified Chapters 1 - 16, Complete Newest Versio
TEST BANK For An Introduction to Brain and Behavior, 7th Edition by Bryan Kolb, Ian Q. Whishaw, Verified Chapters 1 - 16, Complete Newest Version
TEST BANK For An Introduction to Brain and Behavior, 7th Edition by Bryan Kolb, Ian Q. Whishaw, Verified Chapters 1 - 16, Complete Newest Version
Basavarajeeyam is a Sreshta Sangraha grantha (Compiled book ), written by Neelkanta kotturu Basavaraja Virachita. It contains 25 Prakaranas, First 24 Chapters related to Rogas& 25th to Rasadravyas.
Histololgy of Female Reproductive System.pptxAyeshaZaid1
Dive into an in-depth exploration of the histological structure of female reproductive system with this comprehensive lecture. Presented by Dr. Ayesha Irfan, Assistant Professor of Anatomy, this presentation covers the Gross anatomy and functional histology of the female reproductive organs. Ideal for students, educators, and anyone interested in medical science, this lecture provides clear explanations, detailed diagrams, and valuable insights into female reproductive system. Enhance your knowledge and understanding of this essential aspect of human biology.
1. Hedge Weekly N°5
Investment Funds Performance Review
HSBC Alternative Investment Group
Week of Monday 28 Jan to Friday 01 Feb 2013
2. Index by Strategies 3
Index by Funds 4
Top/Bottom 20 8
Newsletter 11
About This Document 48
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 2
3. Commodity 33
Convertible Arbitrage
Commodity-Systematic 33
Convertible 11 Currency 33
Credit Long/Short Diversified 34
Credit 12 Fixed Income 36
Diversified 13 Managed Futures
Multi-Strategy 14 Currency 37
Distressed Discretionary 37
Distressed Security 15 Multi-Strategy 37
Systematic 39
Equity Long/Short
Market Neutral
Equity-Commodity 17
Equity-Diversified 18 Discretionary 40
Equity-Energy 23 Equity Diversified 41
Equity-Financial 24 Multi-Strategy 41
Equity-Healthcare 24 Statistical Arbitrage 42
Equity-Mid-Small Cap 24 Systematic 42
Equity-Pharma-Biotech 25 Merger Arbitrage
Equity-Real Estate 25 Merger-Arbitrage 43
Equity-Technology 26
Multi-Strategy
Event Driven
Diversified 44
Multi-Strategy 27 Multi-Strategy 46
Fixed Income Arbitrage Volatility Arbitrage
Fixed Income 29 Arbitrage 47
Fund of Funds
Arbitrage 30
Event Driven 30
Long/Short 30
Macro 30
Multi-Strategy 31
Trading 31
Long Only
Equity-Diversified 32
Macro
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 3
Source - HSBC
4. ASCEND PARTNERS FUND II LTD - A 22 BOUSSARD & GAVAUDAN HOLDING., L 44 CC ASIA ABSOLUTE RETURN FUND 17
3 ASIAN CREDIT HEDGE FUND 12 BREVAN HOWARD ASIA FUND LIMITED 34 CCI HEALTHCARE PARTNERS LTD 24
ASPECT DIVERSIFIED FUND - CLASS 37 BREVAN HOWARD COMMODITIES STRAT 33 CCP QUANTITATIVE FUND US$ ARIST 38
3G BRAZIL OFFSHORE FUND LTD 18
AVIVA INVESTOR FIXED INCOME MAC 36 BREVAN HOWARD CREDIT CATALYSTS 12 CCP QUANTITATIVE UCITS FUND US$ 38
BREVAN HOWARD EM. MKT STRATEGIE 34 CENTAURUS INTERNATIONAL RISK AR 43
A
B BREVAN HOWARD FUND, LTD - USD C 34 CERBERUS INTL. LTD CLASS A A/C 15
A.R.T. INTERNATIONAL INVESTOR ( 41 BREVAN HOWARD INVEST. FUND - EM 36 CHENAVARI CORPORATE CREDIT STRA 12
BASSO INVESTORS LTD 11
ABSOLUTE INSIGHT UK EQUITY MKT 40 BREVAN HOWARD INVESTMENT FUND I 33 CHENAVARI TORO CAPITAL I A 15
BAY RESOURCES PARTNERS OFFSHORE 22
ADELANTE EMERGING DEBT FUND 34 BREVAN HOWARD M/S FUND, LTD – C 44 CHILTON CHINA OPPORTUNITIES FUN 17
BEACH HORIZON FUND LTD 37
ADELPHI EMERGING EUROPE. FUND 18 BRIGADE LEVERAGED CAPITAL STRUC 13 CLIVE FUND (The ) Class - A - 33
BEACH POINT TOTAL RETURN OFFSHO 16
ADELPHI EUR. FUND $ (A) 19 BROOKFIELD GLOBAL REITS LONG SH 25 COBALT OFFSHORE LTD 23
BEACONLIGHT OFFSHORE FUND LTD 20
AETOS CORPORATION - CLASS A 43 BRUMMER MULTISTRATEGY 2XL, LTD 44 COELI POWER SURGE FUND LTD 37
BLACK DIAMOND RELATIVE VALUE LT 40
AG MORTGAGE VALUE PARTNERS LTD 12 BRYN MAWR OFFSHORE LTD 42 COMAC GLOBAL MACRO FUND 35
BLACK DIAMOND, LTD - CLASS B (U 44
AG SUPER FUND INTERNATIONAL, LT 27 BTG PACTUAL DISTRESSED MORTGAGE 16 CONQUEST MACRO FUND, LTD (COMP) 38
BLACKROCK EOS CLASS B USD COMP 42
AJR INTERNATIONAL (BVI), INC. - 22 BTG PACTUAL GLOBAL EM. MKTS AND 34 CONTRARIAN CAPITAL FUND I OFFSH 15
BLACKROCK MULTI-STRATEGY FUND 44
ALLBLUE LIMITED 44 BTG PACTUAL GLOBAL EQUITY OPPOR 45 CONTRARIAN EMERGING MARKETS OFF 44
BLACKROCK 32 CAPITAL MASTER FUN 42
ALLIANCE BERNSTEIN SELECT US EQ 22 CQS ABS FEEDER FUND - CLASS -B- 12
BLACKROCK CAPITAL STRUCTURE INV 44
ALPHADYNE INVESTMENT STRATEGIES 34 C CQS ASIA FEEDER FUND LTD- CLAS 11
BLACKROCK EUROPEAN DIVERSIFIED 41
ALPHAGEN HOKUTO FUND LTD - CLAS 22 CQS CONV & QUANT STRATS FEED FD 11
BLACKROCK FIXED INCOME GLOBAL A 29 CANDLEWOOD SPECIAL SITUATIONS F 15
ALPHAGEN OCTANIS CLASS A 22 CQS CREDIT LONG SHORT FEEDER FU 12
BLACKROCK OBSIDIAN FUND 29 CANDLEWOOD STRUCTURED CREDIT FU 12
ALPHAGEN VOLANTIS FUND, LTD - A 25 CQS DIRECTIONAL OPP. FEEDER FUN 45
BLACKROCK UK EQUITY HEDGE FUND 22 CANYON BALANCED FUND LTD - CLAS 15
ALTIS MASTER FUND ICC - GLOBAL 37 CQS DIVERSIFIED FUND (SPC) LTD 45
BLUE SKY JAPAN LTD - CLASS A 22 CANYON VALUE REALIZATION FD, LT 15
ALYDAR FUND LTD 22 CRABEL FUND SPC LTD CLASS A 38
BLUECREST CAPL INTL LTD A USD 44 CAPEVIEW AZRI 2X FUND 19
ALYSHEBA FUND LIMITED 22
BLUECREST EMERGING MARKETS FUND 34 CAPEVIEW AZRI FUND 19
AMAZON MARKET NEUTRAL FUND CLAS 40 D
BLUECREST MULTI STRATEGY CREDIT 12 CAPITAL FUND, LTD (THE) 35
ANTARES EUROPEAN FUNDS, LTD - U 19
BLUEMATRIX FUND CLASS -A- USD 41 CAPULA GLOBAL RELATIVE VALUE FU 29 DAVIDSON KEMPNER DIST. OPP. INT 15
ARCUS JAPAN FUND -JPY- 22
BLUEMOUNTAIN CREDIT ALTERNATIVE 12 CAPULA TAIL RISK FUND LTD Share 35 DAVIDSON KEMPNER INTL, LTD - CL 27
ARISTEIA INTERNATIONAL LTD 11
BLUEMOUNTAIN EQUITY ALTERNATIVE 47 CASSIOPEIA FUND CLASS C 47 DB EQUILIBRIA JAPAN FUND 40
ARMAJARO COMMODITIES FUND CLASS 33
BLUEMOUNTAIN LONG SHORT CREDIT 12 CASTLEROCK FUND LTD 22 DB EQUILIBRIA JAPAN FUND LTD 2X 40
ARMAJARO EMERGING MARKETS FUND 18
BLUETREND FUND, LTD - CLASS A 37 CAXTON GLOBAL INVESTMENT LTD 35 DB PLATINUM IV DBX SYSTEMATIC A 38
ARMAJARO STS COMMODITIES FUND C 33
BNY MELLON ARX BRAZIL FUND SPC 18 CAZENOVE EURO EQ ABS RETURN FUN 19 DB PLATINUM V HERMES A.R. COMMO 33
ARROWGRASS INT FUND LTD 44
BORONIA DIVERSIFIED FUND MASTER 37 CAZENOVE UK ABSOLUTE TARGET FUN 40 DIAMOND CAPITAL MANAGEMENT 31
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 4
Source - HSBC
5. DISCOVERY GLOBAL OPPORTUNITY FU 34 FIREBIRD REPUBLICS FUND, LTD 18 GREEN T G2 FUND 12 HSBC SPECIAL OPPORTUNITIES FUND 30
DISCUS FEEDER LTD CL. B USD STA 38 FORE MULTI STRATEGY FUND LTD 13 GREENLIGHT CAPITAL OFFSHORE, LT 25 HSBC TRADING ADVANTEDGE FUND 31
DORSET ENERGY FUND, LTD - CLASS 23 FORTRESS ASIA MACRO FUND 34 GROWTH MANAGEMENT LTD 18 HSBC UCITS ADVANTEDGE FUND -USD 31
DOUBLE BLACK DIAMOND LTD - SERI 45 FORTRESS MACRO FUND LTD. CLASS 35 GRT TOPAZ OFFSHORE PARTNERS, LT 25 HT ASIAN CATALYST FUND LLC 17
DOUBLE HAVEN CREDIT OPPORTUNIT 14 GSA CAPITAL INTERNATIONAL FUND, 42 HUDSON BAY INTERNATIONAL FUND L 41
DRAKE GLOBAL OPPORTUNITIES FUND 29 G HUTCHIN HILL CAPITAL OFFSHORE F 45
DUET GLOBAL FUND PLUS 21 H
GABELLI ASSOCIATES LIMITED - CL 43
DYMON ASIA MACRO FUND (SERIES A 33 I
GAM DIVERSITY I INC - US$ CLASS 31 HABROK LTD 19
GAM DIVERSITY II INC - US$ CLAS 31 HALCYON OFF. ASSET-BACKED VALUE 16 III FUND LTD 29
E
GAM GLOBAL RATES HEDGE FUND 35 HALCYON PARTNERS OFFSHORE FUND 45 III RELATIVE VALUE CREDIT STRAT 29
EAGLE GLOBAL FUND 38 GAM TALENTUM ENHANCED EUROPE LO 41 HARBOUR HOLDINGS LTD 25 III SELECT CREDIT FUND LTD CLAS 12
ECLECTICA FUND (THE) CLASS A EU 35 GAM TRADING II USD 31 HARMONIC ALPHA PLUS MACRO FUND 35 IVORY CAPITAL FLAGSHIP STRATEGY 23
EGERTON EUROPEAN DOLLAR CLASS - 21 GAMUT INVESTMENTS 35 HENDERSON EUROPEAN ABS RETURN F 19
EGERTON EUROPEAN EQUITY EUR - C 19 GAVEA FUND LTD . CLASS A S/1 34 HENDERSON JAPAN ABS RETURN FD, 22 J
ELEMENT CAPITAL FUND 35 GEMS PROGR. FUND SICAV RECOVERY 30 HIGGS CAPITAL FUND LIMITED 33
JABCAP GLOBAL BALANCED FUND LTD 45
ELLERSTON GEMS - CLASS A 21 GEOSPHERE FUND, LTD 17 HIGHBRIDGE CAPITAL CORPORATION 45
JABCAP GLOBAL CONVERTIBLE FUND 11
ELM RIDGE VALUE PARTNERS OFFSHO 23 GLADE BROOK GLOBAL OFFSHORE FUN 21 HIGHBRIDGE LONG/SHORT EQUITY FU 23
JABCAP MULTI STRATEGY FUND LTD 45
EMF FIXED INCOME FUND, LTD 29 GLC BEHAVIOURAL TREND FUND LTD 38 HIGHBRIDGE QUANTITATIVE COMMODI 38
JAMES ALPHA SMALL CAP FUND LTD 23
EMINENCE FUND LTD A 23 GLC DIRECTIONAL FUND LTD 38 HIGHBRIDGE QUANTITATIVE COMMODI 38
JENOP GLOBAL HEALTHCARE FUND LT 24
ENNISMORE EUROPEAN SMALLER COMP 24 GLC DIVERSIFIED FUND LTD -A- 45 HIGHBRIDGE STATISTICAL OPP. LTD 42
JOHO FUND, LTD-A- 17
EPISODE INC. CLASS A 35 GLC GESTALT EUROPE FUND, LTD A/ 42 HORSEMAN GLOBAL FUND USD 21
JPMORGAN PORT. STRAT. FUNDS-EUR 19
EVEREST CAPITAL ASIA 17 GLC GLOBAL MACRO FUND LTD 35 HSBC ALPHA FUND LTD - HSBC EURO 19
JPS CREDIT OPPORTUNITIES FUND ( 13
EVEREST CAPITAL FRONTIER MARKET 18 GLG EUROPEAN EQUITY ALTERNATIVE 41 HSBC ASIAN ADVANTEDGE FUND 30
EXANE ARCHIMEDES FUND CLASS A C 26 GLG EUROPEAN LONG SHORT FUND CL 19 HSBC CREDIT MARKET OPPORTUNITIE 30
K
EXANE MICROMEGAS FUND LTD- CLAS 40 GLG MARKET NEUTRAL FUND - CLASS 45 HSBC EUROPEAN ALPHA FUND -EUR 19
EXANE TEMPLIERS FUND 21 GRACIE CREDIT OPPORTUNITIES L.P 12 HSBC GH FUND USD 31 KALTCHUGA FUND - RUSSIA EQ. SUB 18
GRAHAM GIF II PROPRIETARY MATRI 38 HSBC GIF GEM EQUITY ABSOLUTE RE 18 KAMUNTING STREET OFFSHORE FUND 29
F GRAHAM GLOBAL INVESTMENT FUND I 38 HSBC HEDGE INVESTMENTS FUND 31 KEYNES LEVERAGED QUANTITATIVE S 38
GRAHAM GLOBAL INVESTMENT FUND I 38 HSBC INDIA ALPHA FUND 18 KG INVESTMENT FUND LLC 46
FEINGOLD OKEEFFE CAPITAL I OFFS 12
GRAHAM GLOBAL INVESTMENT FUND- 35 HSBC LEVERAGED GH FUND 31 KIMA PAN ASIA OFFSHORE FUND - C 17
FINISTERRE SOVEREIGN DEBT FUND 12
GRAHAM GLOBAL INVESTMENT FUND- 35 HSBC MAA FUND USD 30 KINETICS FUND, INC - A/A 23
FIREBIRD NEW RUSSIA FUND, LTD - 18
GREEN FUND LLC GREEN CLASS 34 HSBC NEXT GENERATION FUND NNI M 31 KING STREET CAPITAL, LTD 15
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 5
Source - HSBC
6. KING STREET EUROPE LTD CLASS A 15 MARSHALL WACE - MW EUREKA A1 EU 21 NEZU CYCLICALS FUND LTD 17 PIMCO ABSOLUTE RETURN STRATEGY 29
KINSALE COMPASS FUND 21 MARSHALL WACE - MW EUROPEAN TOP 20 NORDIC ALPHA CLASS B - NOK 20 PIMCO GLOBAL CREDIT OPPORTUNITY 13
KLS DIVERSIFIED FUND LTD 29 MARSHALL WACE - MW GLOBAL FINAN 24 PIMCO MULTI-ASSET VOLATILITY FU 47
KROM RIVER COMMODITY FUND 33 MARSHALL WACE - MW GLOBAL OPPOR 21 O PINE RIVER ASIA FUND 11
MARSHALL WACE - MW MARKET NEUTR 40 PINE RIVER CONVERTIBLES FUND 11
OCCO EASTERN EUROPEAN FUND 19
L MARTIN CURRIE ARF - GLOBAL RESO 17 PINE RIVER FIXED INCOME FUND LT 29
OCEANIC HEDGE FUND - CLASS A 17
MARTIN CURRIE ARF - JAPAN FUND 22 PINE RIVER FUND CLASS -B1- SHAR 45
LANSDOWNE DEVELOPED MARKET FUND21 OCP DEBT OPPORTUNITY INTERNATIO 13
MARTIN CURRIE EUROPEAN HEDGE FU 20 PINE RIVER LIQUID MORTGAGE FUND 29
LANSDOWNE EURO EQTY FD, LTD - A 20 OCTAGON PAN ASIA FUND 17
MASTERS FUND LTD MAGNOLIA SERIE 30 PINPOINT CHINA FUND CLASS A USD 17
LANSDOWNE GLOBAL FINANCIALS FUN 24 ODEY EUROPEAN, INC (EUR) 20
MAVERICK FUND, LTD - CLASS A/1 21 PINPOINT MULTI-STRATEGY FUND 36
LAZARD RATHMORE FUND - CLASS A- 11 OMEGA OVERSEAS PARTNERS, LTD C 23
MBAM ACTIVE LONG SHORT 20 PLATINUM FUND LTD 21
LC CAPITAL OFFSHORE FUND, LTD 15 ONE WILLIAM STREET CAPITAL FUND 13
MELLON OFF GLOB OPP FUND LTD - 35 PLATINUM PARTNERS VALUE ARBITRA 46
LIM ASIA MULTI-STRATEGY FUND CL 41 ONSLOW MACRO FUND CLASS A 36
MELLON OFF. ALPHAACCESS FUND LT 35 POLAR CAPITAL EUROP CONVICTION 20
LIM JAPAN FUND 46 ORTUS FUND (CAYMAN) LTD 37
MERCHANT COMMODITY FUND (THE) - 33 POLAR CAPITAL EUROPEAN FORAGER 24
LINDEN INTERNATIONAL LTD 45 OWL CREEK OVERSEAS FUND, LTD 27
MILLENNIUM INTL LTD 45 POLLUX BRAZILIAN EQUITIES FUND 19
LION FUND, LTD (THE) 43
MKP PARTNERS OFFSHORE LTD 29 PROLOGUE FEEDER FUND, LTD. CLAS 29
LMR GLOBAL OPPORTUNITIES FUND L 45 P
MKP CREDIT OFFSHORE FUND 13
LONDON DIVERSIFIED FUND, LTD - 29
MKP OPPORTUNITY OFFSHORE, LTD 35 PALOMINO FUND LTD CLASS B ORIGI 13 Q
LUCIDUS CAPITAL G4 FUND 13
MLIS - CCI HEALTHCARE LONG SHOR 24 PAN ASIA OPPORTUNITIES FUND LTD 41
LYNX (BERMUDA) LTD 37 QVT OFFSHORE LTD CLASS 1-NR 46
MLIS - MARSHALL W. TOPS UCITS 40 PAULSON ADVANTAGE LTD -A- 27
MLIS OZ EUROPE UCITS FUND CLASS 27 PAULSON ADVANTAGE PLUS LTD 27
M R
MLM MACRO PEAK PARTNERS OFFSH F 36 PAULSON CREDIT OPPORTUNITIES LT 15
M. KINGDON OFFSHORE NV - A/1 21 MONARCH DEBT RECOVERY FUND LTD 15 PAULSON ENHANCED LTD 43 RAB SPECIAL SITUATION FD LTD 25
MACQUARIE ASIAN ALPHA FUND 40 MONEDA ABSOLUTE RETURN LTD 27 PAULSON INTERNATIONAL, LTD 43 REAL RETURN ASIAN FUND LTD (THE 17
MADISON STREET FUND L.P. 23 MOORE EMERGING FX . INC & CRY F 34 PAULSON RECOVERY FUND LTD 27 REDWOOD OFFSHORE FUND 16
MAN AHL DIVERSIFIED PLC 39 MOORE GLOBAL INV FD, LTD - A $ 36 PELHAM LONG/SHORT FUND LTD CLAS 20 RENAISSANCE INSTITUTIONAL DIVER 39
MAN AHL EVOLUTION USD 39 MOORE MACRO MANAGERS FUND, LTD 36 PENSATO EUROPA FUND LTD EURO CL 20 RENAISSANCE INSTITUTIONAL EQUIT 23
MARATHON VERTEX JAPAN FD, LTD C 22 MOORE MACRO MANAGERS FUND, LTD 36 PERCEPTIVE LIFE SCIENCES OFFSH 25 RENAISSANCE INSTITUTIONAL FUTUR 39
MARCATO INTERNATIONAL LTD 28 MS ASCEND UCITS FUND CLASS I EU 21 PERRY PARTNERS INTERNATIONAL IN 27 REVELATION SPECIAL SITUATIONS F 27
MARINER-TRICADIA CREDIT STRATEG 13 PERSHING SQUARE INTL.LTD 27 RHINE ALPHA STARS LTD 20
MARLIN FUND LP 23 N PHARO MACRO FUND LTD 36 ROSEMONT OFFSHORE FUND LTD CLAS 42
MARSHALL WACE - MW CORE A USD 20 PHARO TRADING FUND 34 RUBICON GLOBAL FUND, LTD 36
NEVSKY FUND PLC (COMPOSITE) 21
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 6
Source - HSBC
7. RUSSIAN PROSPERITY FUND - A 32
RWC SAMSARA FUND CLASS A EURO 20 T W
RWC US ABSOLUTE ALPHA FUND - CL 23
TELLIGENT GREATER CHINA FUND 18 WATERSTONE MKT NEUT OS FUND, LT 11
TEWKSBURY INVESTMENT FUND, LTD 39 WEISS MULTI-STRATEGY PARTNERS ( 46
S
THEOREMA EUROPE FUND PLUS LTD B 20 WF ASIA FUND LTD S/1 18
SAB OVERSEAS FUND LTD 23 THIRD POINT OFFSHORE 27 WINTON EVOLUTION FUND (THE) 39
SABA CAPITAL OFFSHORE FUND LTD 13 THIRD POINT ULTRA 27 WINTON FUTURES FUND - CLASS B 39
SEGANTII ASIA-PACIFIC EQUITY MU 44 TILDEN PARK OFFSHORE INVESTMENT 13
SELIGMAN TECH SPECTRUM FUND CLA 26 TITANIUM CAPITAL MACRO FX FUND 39 Y
SEMINOLE OFFSHORE FUND 23 TOSCA CLASS A - USD 24
YORK INVESTMENT LTD -CLASS A-U/ 28
SENVEST PARTNERS, LTD - CLASS A 25 TRADELINK INTEGRATED PROGRAM LT 39
SIERRA EUROPE OFFSHORE, LTD - U 20 TRAXIS SIVIK GLOBAL HEALTHCARE 25
Z
SILVER POINT CAPITAL OFFSHORE L 15 TT INTERNATIONAL FUND 36
SOFAER CAPL ASIAN HEDGE FD (Net 18 TT MID-CAP EUROPE LONG/SHORT FU 20 ZADIG FUND CLASS A1 20
SOLAISE SYSTEMATIC FUND LTD ( S 39 TUDOR B.V.I GLOBAL FUND LTD -A- 36 ZAXIS OFFSHORE LTD - CLASS A/1 25
SOLUS SOLA LTD CL. I 27 TUDOR B.V.I GLOBAL FUND LTD -A- 36 ZEAL CHINA FUND LIMITED 18
SOMERSET SPECIAL OPPORTUNITIES 46 TUDOR TENSOR FUND LIMITED CLASS 39 ZWEIG-DIMENNA INTL LIMITED - CL 23
SPF CREDIT SUISSE SECURITIZED P 13 TULIP TREND FUND, LTD - A 39
SPINNAKER GLOB OPP FUND, LTD CO 34 TWO SIGMA ABSOLUTE RETURN FUND 41
SPINNAKER GLOBAL EMERGING MARKE 44 TWO SIGMA COMPASS CAYMAN FUND 39
SR GLOBAL FUND - B - ASIA (Real 18 TWO SIGMA HORIZON CAYMAN LTD 46
SR GLOBAL FUND C - INTERNATIONA 21 TYRUS CAPITAL EVENT FUND LTD 28
SR GLOBAL FUND H - JAPAN (Real 22 TYRUS CAPITAL OPPORTUNITIES FUN 28
SR GLOBAL FUND INC - G - GLOBAL 19
SR PHOENICIA INC CLASS -A- SERI 19 V
STANDARD PACIFIC CAPITAL -B- 21
VAN ECK HARD ASSETS 2X FUND LTD 17
STONE LION FUND LTD CLASS A 15
VISIUM BALANCE OFFSHORE FUND CL 25
STRATEGIC VALUE RESTRUCTURING F 16
VISIUM CREDIT OPPORTUNITIES FUN 13
STRATUS FUND LIMITED CLASS B 46
VISIUM GLOBAL OFFSHORE FUND LTD 46
VISIUM INSTITUTIONAL PARTNERS F 24
VR GLOBAL OFFSHORE FUND LTD 16
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 7
Source - HSBC
8. Top Bottom
Investment Funds Return Date Investment Funds Return Date
BTG PACTUAL DISTRESSED MORTGAGE FUND 45.94 31 Dec 12 CONQUEST MACRO FUND, LTD (COMP) -33.16 31 Dec 12
TILDEN PARK OFFSHORE INVESTMENT FUND LTD 40.76 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
CQS DIRECTIONAL OPP. FEEDER FUND. Ltd – A NI USD 35.86 31 Dec 12 BEACH HORIZON FUND LTD -19.47 31 Dec 12
PINE RIVER FIXED INCOME FUND LTD 34.95 31 Dec 12 ARMAJARO STS COMMODITIES FUND CLASS -Z- -18.29 31 Dec 12
SENVEST PARTNERS, LTD - CLASS A 34.65 31 Dec 12 HIGHBRIDGE QUANTITATIVE COMMODITIES FUND -17.57 31 Dec 12
CLASS B
THIRD POINT ULTRA 34.47 31 Dec 12
BLUE SKY JAPAN LTD - CLASS A -17.36 30 Nov 12
BLACKROCK OBSIDIAN FUND 34.27 31 Dec 12
HIGHBRIDGE QUANTITATIVE COMMODITIES FUND -17.35 31 Dec 12
CHENAVARI TORO CAPITAL I A 32.42 31 Dec 12 CLASS A
MARLIN FUND LP 31.53 31 Dec 12 ORTUS FUND (CAYMAN) LTD -17.33 31 Dec 12
SR GLOBAL FUND H - JAPAN (Real Perf) 31.05 31 Dec 12 ELM RIDGE VALUE PARTNERS OFFSHORE, INC - A -14.84 31 Dec 12
ODEY EUROPEAN, INC (EUR) 30.69 31 Dec 12 CAPULA TAIL RISK FUND LTD Share Class C Series 1 -14.24 31 Dec 12
RHINE ALPHA STARS LTD 29.45 31 Dec 12 PAULSON ADVANTAGE LTD -A- -14.23 31 Dec 12
PALOMINO FUND LTD CLASS B ORIGINAL SERIES 29.29 31 Dec 12 DISCUS FEEDER LTD CL. B USD STANDARD LEVERAGE -13.88 31 Dec 12
PINE RIVER LIQUID MORTGAGE FUND LTD 28.99 31 Dec 12 ALTIS MASTER FUND ICC - GLOBAL FUTURES -10.92 31 Dec 12
MARCATO INTERNATIONAL LTD 28.67 31 Dec 12 PORTFOLIO IC
BTG PACTUAL GLOBAL EM. MKTS AND MACRO FD 28.12 31 Dec 12 ASPECT DIVERSIFIED FUND - CLASS A -10.66 31 Dec 12
PERCEPTIVE LIFE SCIENCES OFFSH FUND, LTD 28.09 31 Dec 12 COMAC GLOBAL MACRO FUND -8.95 31 Dec 12
WF ASIA FUND LTD S/1 27.68 31 Dec 12 CLIVE FUND (The ) Class - A - -8.81 31 Dec 12
KINETICS FUND, INC - A/A 27.42 31 Dec 12 COELI POWER SURGE FUND LTD -8.67 31 Dec 12
WINTON EVOLUTION FUND (THE) -8.29 31 Dec 12
OCEANIC HEDGE FUND - CLASS A -7.73 31 Dec 12
This ranking is for information only and should not be considered as exhaustive.
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 8
Source - HSBC
9. Top Bottom
Investment Funds Return Date Investment Funds Return Date
SEGANTII ASIA-PACIFIC EQUITY MULTI-STRATEGY FUND 40.75 31 Dec 11 PAULSON ADVANTAGE PLUS LTD -52.64 31 Dec 11
RENAISSANCE INSTITUTIONAL EQUITIES LP (B) 34.12 31 Dec 11 HENDERSON EUROPEAN ABS RETURN FD, LTD USD -42.03 31 Dec 11
MARSHALL WACE - MW GLOBAL OPPORTUNITIES A USD 27.16 31 Dec 11 PAULSON ADVANTAGE LTD -A- -35.96 31 Dec 11
CANDLEWOOD STRUCTURED CREDIT FUND LTD 25.27 31 Dec 11 MLM MACRO PEAK PARTNERS OFFSH FD, LTD - B -35.04 31 Dec 11
BLACKROCK 32 CAPITAL MASTER FUND SPC, LTD (THE) 24.92 31 Dec 11 SENVEST PARTNERS, LTD - CLASS A -33.96 31 Dec 11
- A/1
MERCHANT COMMODITY FUND (THE) - COMPOSITE -30.07 31 Dec 11
CHENAVARI TORO CAPITAL I A 24.71 31 Dec 11
ALTIS MASTER FUND ICC - GLOBAL FUTURES -29.61 31 Dec 11
BLACKROCK CAPITAL STRUCTURE INVESTMENTS FUND 22.94 31 Dec 11 PORTFOLIO IC
LTD
PAULSON RECOVERY FUND LTD -27.92 31 Dec 11
DISCUS FEEDER LTD CL. B USD STANDARD LEVERAGE 21.95 31 Dec 11
JABCAP GLOBAL BALANCED FUND LTD CLASS D/1 NI -27.33 31 Dec 11
PIMCO MULTI-ASSET VOLATILITY FUND LTD 20.36 31 Dec 11
JABCAP MULTI STRATEGY FUND LTD CLASS D/1 NI -25.65 31 Dec 11
DYMON ASIA MACRO FUND (SERIES A) 20.11 31 Dec 11
SR GLOBAL FUND C - INTERNATIONAL (Real Perf) -24.27 31 Dec 11
BLACKROCK FIXED INCOME GLOBAL ALPHA FUND 19.93 31 Dec 11
CASTLEROCK FUND LTD -23.84 31 Dec 11
PLATINUM PARTNERS VALUE ARBITRAGE INT. FUND 19.61 31 Dec 11
BLUE SKY JAPAN LTD - CLASS A -23.24 31 Dec 11
LTD
CHILTON CHINA OPPORTUNITIES FUND LTD -23.21 31 Dec 11
STRATUS FUND LIMITED CLASS B 15.63 31 Dec 11
ARMAJARO EMERGING MARKETS FUND CLASS -A- -22.31 31 Dec 11
GSA CAPITAL INTERNATIONAL FUND, LTD - CLASS A 15.20 31 Dec 11
SR GLOBAL FUND - B - ASIA (Real Perf) -21.86 31 Dec 11
CCP QUANTITATIVE FUND US$ ARISTARCHUS SH. 12.84 31 Dec 11
PAULSON ENHANCED LTD -21.55 31 Dec 11
KG INVESTMENT FUND LLC 12.40 31 Dec 11
TRADELINK INTEGRATED PROGRAM LTD -21.27 31 Dec 11
BREVAN HOWARD FUND, LTD - USD CLASS A 12.15 31 Dec 11
SR PHOENICIA INC CLASS -A- SERIES 1 -20.97 31 Dec 11
ECLECTICA FUND (THE) CLASS A EURO 12.11 31 Dec 11
TULIP TREND FUND, LTD - A -20.93 31 Dec 11
AMAZON MARKET NEUTRAL FUND CLASS A USD 11.56 31 Dec 11
MKP OPPORTUNITY OFFSHORE, LTD 11.42 31 Dec 11
This ranking is for information only and should not be considered as exhaustive.
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 9
Source - HSBC
10. Top Bottom
Investment Funds Return Date Investment Funds Return Date
CHENAVARI TORO CAPITAL I A 90.56 31 Dec 10 GLC GESTALT EUROPE FUND, LTD A/1 -13.42 31 Dec 10
VR GLOBAL OFFSHORE FUND LTD 58.35 31 Dec 10 CAZENOVE EURO EQ ABS RETURN FUND LIMITED -12.05 31 Dec 10
CLASS B
TITANIUM CAPITAL MACRO FX FUND 44.20 31 Dec 10
SR GLOBAL FUND C - INTERNATIONAL (Real Perf) -11.82 31 Dec 10
HENDERSON EUROPEAN ABS RETURN FD, LTD USD 41.65 31 Dec 10
GLC DIVERSIFIED FUND LTD -A- -11.56 31 Dec 10
MARLIN FUND LP 41.63 31 Dec 10
SOFAER CAPL ASIAN HEDGE FD (Net Index) -10.14 31 Dec 10
SENVEST PARTNERS, LTD - CLASS A 39.59 31 Dec 10
GLC GLOBAL MACRO FUND LTD -10.04 31 Dec 10
TULIP TREND FUND, LTD - A 38.39 31 Dec 10
DOUBLE HAVEN CREDIT OPPORTUNITIES 04/04 -8.53 31 Dec 10
THIRD POINT ULTRA 37.91 31 Dec 10
CAZENOVE UK ABSOLUTE TARGET FUND - P2 GBP -7.62 31 Dec 10
JAMES ALPHA SMALL CAP FUND LTD 35.90 31 Dec 10
RAB SPECIAL SITUATION FD LTD -7.59 31 Dec 10
THIRD POINT OFFSHORE 33.75 31 Dec 10
DISCUS FEEDER LTD CL. B USD STANDARD LEVERAGE -6.67 31 Dec 10
GLG MARKET NEUTRAL FUND - CLASS Z USD 33.60 31 Dec 10
UNRESTRICTED GLC DIRECTIONAL FUND LTD -4.79 31 Dec 10
CONTRARIAN EMERGING MARKETS OFF FUND LTD 33.16 31 Dec 10 RWC US ABSOLUTE ALPHA FUND - CLASS B -4.56 31 Dec 10
PINE RIVER FIXED INCOME FUND LTD 31.84 31 Dec 10 SR GLOBAL FUND H - JAPAN (Real Perf) -4.22 31 Dec 10
VISIUM CREDIT OPPORTUNITIES FUND 31.67 31 Dec 10 GAM DIVERSITY II INC - US$ CLASS -3.40 31 Dec 10
CQS DIRECTIONAL OPP. FEEDER FUND. Ltd – A NI USD 31.45 31 Dec 10 SIERRA EUROPE OFFSHORE, LTD - USD/A -3.08 31 Dec 10
HIGHBRIDGE QUANTITATIVE COMMODITIES FUND 31.32 31 Dec 10 OCTAGON PAN ASIA FUND -2.68 31 Dec 10
CLASS A
POLLUX BRAZILIAN EQUITIES FUND -2.62 31 Dec 10
BROOKFIELD GLOBAL REITS LONG SHORT STRATEGY 30.83 31 Dec 10
GAM DIVERSITY I INC - US$ CLASS -2.55 31 Dec 10
KINETICS FUND, INC - A/A 30.80 31 Dec 10
HIGHBRIDGE STATISTICAL OPP. LTD – CLASS A -2.39 31 Dec 10
EVEREST CAPITAL FRONTIER MARKETS 30.64 31 Dec 10
SR PHOENICIA INC CLASS -A- SERIES 1 -1.87 31 Dec 10
JPMORGAN PORT. STRAT. FUNDS-EUROPE DYNAMIC 28.88 31 Dec 10
L/S FUND-A10-03
This ranking is for information only and should not be considered as exhaustive.
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 10
Source - HSBC
11. Inception Liquidity Asset Last NAV or Date MTD YTD 2012 2011 2010 Ann. Return Ann. Vol Max
Dates Size Index Drawdown1
Convertible
Ytd Avg. 2012 7.82%
Ytd Avg. 2012
Convertible/Asia 6.69%
CQS ASIA FEEDER FUND LTD- CLASS -B- 30 Apr 07 Q $74M 1,245.66 31 Dec 2.09% 5.44% 5.43% -4.26% 10.74% 3.94% 8.37% (24.55%)
Michael Hintze, Jean-Christophe Blanc Nov 12 12 Oct 07 - Oct 08
PINE RIVER ASIA FUND 30 Jun 04 Q $222 M 1,550.25 31 Dec 2.33% 7.95% 7.95% 0.67% 12.99% 5.29% 11.76% (37.86%)
Nikhil Mankodi Jan 13 12 Jan 08 - Dec 08
Ytd Avg. 2012
Convertible/Global 7.86%
ARISTEIA INTERNATIONAL LTD 01 Aug 97 Q $1'093M 796.84 31 Dec 1.86% 11.20% 11.2% 2.36% 10.5% 14.40% 9.29% (30.20%)
Anthony M. Frascella, William R. Techar Jan 13 12 May 08 - Dec 08
BASSO INVESTORS LTD 30 Sep 95 Q $367 M 6,446.95 25 Jan 1.55% 1.55% 9.5% 2.61% 17.15% 11.35% 6.10% (25.00%)
Howard Fischer Oct 12 13 Dec 07 - Oct 08
CQS CONV & QUANT STRATS FEED FD, LTD 29 Feb 00 M $366M 2,894.70 31 Dec 1.36% 8.64% 8.65% -1.88% 7.98% 8.63% 8.40% (34.47%)
CLASS-B- Dec 12 12 Oct 07 - Dec 08
Michael Hintze/ Oliver Dobbs
JABCAP GLOBAL CONVERTIBLE FUND - D1 30 Apr 07 W $ 257 M 159.11 22 Jan 4.73% 4.73% 5.37% -14.15% 8.45% 8.42% 13.83% (28.61%)
Unrestricted Oct 12 13 May 08 - Nov 08
Philippe Jabre
LAZARD RATHMORE FUND - CLASS A-2 31 May 07 Q/M $1'010 M 194.42 25 Jan 1.04% 1.04% 4.59% -1.65% 16.97% 12.46% 9.22% (16.23%)
Sean Reynolds, Christopher Sferruzzo Nov 12 13 Aug 08 - Nov 08
Ytd Avg. 2012
Convertible/USA 8.88%
PINE RIVER CONVERTIBLES FUND 31 Jul 09 Q $106 M 163.30 31 Dec 2.43% 6.66% 6.66% 4.98% 22.41% 15.41% 7.31% (3.80%)
Franklin Parlamis Jan 13 12 Apr 10 - Jun 10
WATERSTONE MKT NEUT OS FUND, LTD 31 Jul 03 Q $1'594 M 242.59 25 Jan (0.58%) (0.58%) 11.1% 0.73% 6.1% 9.78% 10.39% (17.56%)
Shawn Bergerson Dec 12 13 Aug 08 - Oct 08
1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 11
Source - HSBC
12. Inception Liquidity Asset Last NAV or Date MTD YTD 2012 2011 2010 Ann. Return Ann. Vol Max
Dates Size Index Drawdown1
Credit
Ytd Avg. 2012 12.13%
Ytd Avg. 2012
Credit/Emerging 11.49%
ASIAN CREDIT HEDGE FUND 31 Jan 02 M $400 M 216.59 31 Dec 1.90% 18.68% 18.68% -1.37% 17.43% 7.33% 9.71% (38.05%)
Emil NGUY Nov 12 12 Feb 08 - Mar 09
FINISTERRE SOVEREIGN DEBT FUND 31 Mar 03 Q $ 754 M 250.97 31 Dec 1.11% 4.30% 4.3% 10.35% 12.04% 9.88% 7.40% (21.00%)
Paul Crean and Xavier Corin-Mick Dec 12 12 Jun 08 - Oct 08
Ytd Avg. 2012
Credit/Global 10.54%
AG MORTGAGE VALUE PARTNERS LTD 30 Apr 09 Q $774 M 200.16 31 Dec 2.05% 20.08% 20.08% 7.42% 24.06% 20.79% 4.46% (1.54%)
Jonathan Lieberman Nov 12 12 Jul 11 - Sep 11
BLUECREST MULTI STRATEGY CREDIT FUND 30 Nov 07 Q $1'647 M 147.80 31 Dec 1.17% 7.23% 7.23% -1.59% 1.85% 6.27% 5.88% (7.62%)
Mike Platt Dec 12 12 Apr 11 - Jan 12
BLUEMOUNTAIN CREDIT ALTERNATIVES FUND 31 Oct 03 Q $4'927 M 237.87 31 Dec 0.77% 14.51% 14.51% 3.57% 12.19% 9.90% 6.55% (11.82%)
BlueMountain Capital Management Dec 12 12 Aug 08 - Dec 08
BLUEMOUNTAIN LONG SHORT CREDIT FUND LTD 31 Jan 10 M $ 862 M 1,097.32 25 Jan 1.76% 1.76% 7.84% 3.65% 9.76% 7.71% 3.91% (3.43%)
Derek Smith Dec 12 13 Apr 11 - Sep 11
BREVAN HOWARD CREDIT CATALYSTS FUND LTD 31 Jul 09 M $3'097 M 155.52 18 Jan 0.63% 0.63% 15.34% 1.22% 13.46% 13.57% 4.75% (5.05%)
CLASS A USD Nov 12 13 May 11 - Dec 11
DW Investment Management ,LP
CANDLEWOOD STRUCTURED CREDIT FUND LTD 31 Dec 10 M $ 767M 152.14 15 Jan 1.10% 1.10% 20.12% 25.27% - 22.79% 3.58% 0.00%
Greg Richter and Brian Herr Jan 13 13 Jan 00 - Jan 00
CHENAVARI CORPORATE CREDIT STRATEGY M1 30 Sep 08 M $ 246 M 127.12 31 Dec 2.05% 17.22% 17.22% 1.29% 12.41% 14.27% 5.79% (6.82%)
Chenavari Investment Managers Dec 12 12 Apr 11 - Aug 11
CQS ABS FEEDER FUND - CLASS -B- 30 Sep 06 Q $2'433 M 4,601.05 31 Dec 1.83% 16.85% 16.85% 0.67% 19.2% 27.62% 12.51% (3.86%)
Alistair Lumsden, Dec 12 12 Apr 07 - Jun 07
CQS CREDIT LONG SHORT FEEDER FUND LTD - B1 30 Apr 09 M $214M 1,122.66 31 Dec (1.06%) (5.28%) -5.28% 7.74% 8.75% 3.42% 4.00% (5.94%)
EUR Nov 12 12 Sep 11 - Dec 12
Simon Finch
FEINGOLD OKEEFFE CAPITAL I OFFSHORE, LTD 31 Jul 02 Q $48 M 230.05 31 Dec 1.30% 7.14% 7.14% -9.97% 20.28% 8.32% 8.21% (29.78%)
Andrea S. Feingold & R. Ian O’Keeffe Oct 12 12 Jun 07 - Dec 08
GRACIE CREDIT OPPORTUNITIES L.P. 30 Jun 04 Q $1'578 M 200.84 31 Dec (0.75%) (5.33%) -5.33% 0.13% 4.48% 8.54% 5.25% (7.11%)
James Palmisciano Dec 12 12 Feb 11 - Dec 12
GREEN T G2 FUND 28 Feb 99 Q $745 M 256.05 25 Jan 0.64% 0.64% 2.76% 0.8% 5.88% 6.99% 3.63% (4.26%)
Darryl Green, Geoffrey Sherry Dec 12 13 Dec 03 - Jul 04
III SELECT CREDIT FUND LTD CLASS -A- 31 Dec 07 Q $151 M 1,717.46 25 Jan 0.25% 0.25% 11.28% 7.41% 18.47% 11.46% 7.34% (8.44%)
Lester Coyle Nov 12 13 Aug 08 - Nov 08
1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 12
Source - HSBC
13. Inception Liquidity Asset Last NAV or Date MTD YTD 2012 2011 2010 Ann. Return Ann. Vol Max
Dates Size Index Drawdown1
Ytd Avg. 2012
Credit/Global 10.54%
JPS CREDIT OPPORTUNITIES FUND (CAYMAN) LTD 30 Sep 11 Q $ 521 M 111.79 24 Jan 0.64% 0.64% 10.86% 0.2% 8.81% 2.29% (0.50%)
JP Morgan Asset Management Dec 12 13 Oct 11 - Nov 11
LUCIDUS CAPITAL G4 FUND 28 Feb 11 Q $434 M 107.64 25 Jan 1.25% 1.25% 5.22% 1.04% 3.93% 3.09% (1.97%)
Darryl Green, Geoffrey Sherry Jan 13 13 Feb 11 - Jun 11
MARINER-TRICADIA CREDIT STRATEGIES, LTD 31 Mar 05 Q $1'477M 314.08 15 Jan 0.60% 0.60% 12.73% -0.81% 10.19% 15.80% 7.88% (10.77%)
Arif Inayatullah & Michael Barnes Jan 13 13 Jun 08 - Nov 08
PALOMINO FUND LTD CLASS B ORIGINAL SERIES 31 Dec 94 Y $5'385 M 6,539.63 31 Dec 2.91% 29.29% 29.29% -3.53% 27.86% 26.12% 20.51% (49.05%)
David Tepper Nov 12 12 Feb 98 - Sep 98
PIMCO GLOBAL CREDIT OPPORTUNITY FUND 30 Jun 06 Q $723 M 158.66 31 Dec 0.82% 15.18% 15.18% 6.24% 9.17% 7.35% 5.12% (12.86%)
SERIES 1 Dec 12 12 Jun 07 - Nov 08
Dan Ivascyn / Jon Horne
SABA CAPITAL OFFSHORE FUND LTD 31 Jul 09 Q $3'544M 129.08 25 Jan 2.64% 2.64% -3.88% 9.33% 10.85% 7.58% 3.66% (6.14%)
Boaz Weinstein Dec 12 13 Jun 12 - Dec 12
SPF CREDIT SUISSE SECURITIZED PRODUCTS 31 Dec 11 Q $ 908 M 116.46 31 Dec 0.84% 16.46% 16.46% - 16.41% 3.13% (0.01%)
MASTER FUND LTD Dec 12 12 May 12 - Jun 12
Albert Sohn
VISIUM CREDIT OPPORTUNITIES FUND 30 Apr 09 Q $ 341M 169.62 25 Jan 0.83% 0.83% 5.82% 0.68% 31.67% 15.16% 5.57% (5.89%)
Chris Plaford Dec 12 13 Jun 11 - Oct 11
Ytd Avg. 2012
Credit/USA 19.05%
BRIGADE LEVERAGED CAPITAL STRUCTURES FUND 31 Dec 06 Q $ 5'497 1,514.07 25 Jan 1.15% 1.15% 6.63% 2.45% 7.52% 7.07% 6.97% (19.42%)
Don Morgan M 13 Jun 08 - Dec 08
Jan 13
MKP CREDIT OFFSHORE FUND 28 Feb 99 Y/Q $2'066M 484.60 25 Jan 3.55% 3.55% 19.59% -5.11% 15.33% 12.01% 5.45% (8.94%)
Patrick McMahon and Anthony Lembke Dec 12 13 Feb 11 - Oct 11
OCP DEBT OPPORTUNITY INTERNATIONAL LTD 30 Jun 01 Q $ 311 M 251.83 31 Dec 1.03% 9.21% 9.21% -1.39% 10.32% 8.35% 6.71% (24.14%)
Onex Credit Partners Dec 12 12 Jun 07 - Dec 08
ONE WILLIAM STREET CAPITAL FUND 31 Mar 08 Y/Q $2'229M 1,657.29 31 Dec 0.85% 19.08% 19.08% -4.31% 18.63% 11.25% 6.31% (8.10%)
OWS Capital Management Jan 13 12 Feb 11 - Nov 11
TILDEN PARK OFFSHORE INVESTMENT FUND LTD 31 Dec 10 Q $ 987 M 154.94 31 Dec 4.35% 40.76% 40.76% 10.07% - 24.43% 5.60% (0.91%)
Josh Birnbaum Dec 12 12 Sep 11 - Oct 11
Diversified
Ytd Avg. 2012 0.89%
Ytd Avg. 2012
Diversified/Global 0.89%
FORE MULTI STRATEGY FUND LTD 31 Mar 04 Q $1'769 M 291.45 31 Dec 0.90% 0.90% 0.9% 7.84% 13.26% 12.99% 11.37% (27.01%)
Matthew Li Dec 12 12 Feb 08 - Sep 08
1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 13
Source - HSBC
14. Inception Liquidity Asset Last NAV or Date MTD YTD 2012 2011 2010 Ann. Return Ann. Vol Max
Dates Size Index Drawdown1
Multi-Strategy
Ytd Avg. 2012 (7.06%)
Ytd Avg. 2012
Multi-Strategy/Asia (7.06%)
DOUBLE HAVEN CREDIT OPPORTUNITIES 04/04 31 Mar 04 Y/Q $41 M 1,136.42 29 Jan (0.21%) (0.21%) -7.06% -4.16% -8.53% 1.46% 6.00% (27.85%)
Darryl Flint Jan 13 13 Aug 08 - Jan 13
1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 14
Source - HSBC
15. Inception Liquidity Asset Last NAV or Date MTD YTD 2012 2011 2010 Ann. Return Ann. Vol Max
Dates Size Index Drawdown1
Distressed Security
Ytd Avg. 2012 17.44%
Ytd Avg. 2012
Distressed Security/Europe 21.65%
CHENAVARI TORO CAPITAL I A 31 May 09 M $ 362 M 566.79 31 Dec 2.14% 32.42% 32.42% 24.71% 90.56% 62.15% 13.86% (5.11%)
Chenavari Investment Managers Dec 12 12 Jul 11 - Oct 11
KING STREET EUROPE LTD CLASS A 30 Jun 07 Q $ 600 M 155.82 25 Jan 2.50% 2.50% 10.9% -4.82% 7.94% 8.27% 6.98% (8.56%)
O. Francis Biondi, Jr., Brian J. Higgins Dec 12 13 May 11 - Nov 11
Ytd Avg. 2012
Distressed Security/Global 14.82%
CANDLEWOOD SPECIAL SITUATIONS FUND LTD 30 Apr 03 Q $ 756 M 713.38 25 Jan 2.30% 2.30% 14.55% 3.88% 11.54% 22.33% 11.79% (28.11%)
Michael Lau and David Koenig Dec 12 13 May 08 - Nov 08
CANYON BALANCED FUND LTD - CLASS A 31 May 04 Q $1'874 M 2,810.20 31 Dec 1.11% 20.52% 20.52% -4.57% 14.29% 12.78% 10.88% (30.14%)
M.R. Julis & J.S. Friedman Oct 12 12 Oct 07 - Nov 08
CANYON VALUE REALIZATION FD, LTD - CLASS A 31 Dec 94 Q $5'041M 6,489.86 31 Dec 1.26% 18.15% 18.15% -4.66% 14.66% 10.94% 8.60% (28.82%)
M.R. Julis & J.S. Friedman Oct 12 12 Oct 07 - Nov 08
CERBERUS INTL. LTD CLASS A A/C 191 31 May 93 Q $1'646 M 761,867.56 31 Dec 2.62% 10.77% 10.77% 9.6% 10.32% 10.92% 5.40% (22.26%)
Steve Feinberg Nov 12 12 May 08 - Feb 09
CONTRARIAN CAPITAL FUND I OFFSHORE LTD 30 Sep 86 Y $2'160 M 2,215.13 31 Dec 3.81% 24.31% 24.31% -1.32% 12.38% 12.52% 9.82% (33.22%)
Jon Bauer Nov 12 12 Jun 07 - Feb 09
DAVIDSON KEMPNER DIST. OPP. INT. LTD - CLASS C 31 Mar 05 Y $790 M 2,136.32 31 Dec 0.81% 11.97% 11.97% -2.45% 10.03% 10.28% 10.62% (25.73%)
TRN 1 - Dec 12 12 Oct 07 - Nov 08
Anthony A. Yoseloff, Avi Z. Friedman and Conor Bastable
KING STREET CAPITAL, LTD 31 Dec 96 Q $10'600 548.86 25 Jan 2.13% 2.13% 12.4% -1.62% 5.41% 11.17% 4.12% (5.21%)
O. Francis Biondi Jr & Brian J. Higgins M 13 May 11 - Nov 11
Dec 12
LC CAPITAL OFFSHORE FUND, LTD 30 Sep 99 Y/Q $ 170 M 371.37 31 Dec 2.00% 9.40% 9.4% 0.25% 14.51% 10.40% 8.83% (34.48%)
Steven G Lampe & Richard F Conway Dec 12 12 Jun 07 - Feb 09
MONARCH DEBT RECOVERY FUND LTD 31 Mar 02 Y $1'400 M 3,254.80 31 Dec 2.08% 12.08% 12.08% -0.45% 25.65% 11.59% 8.34% (33.02%)
Michael Weinstock, Andrew Herenstein Nov 12 12 Oct 07 - Dec 08
PAULSON CREDIT OPPORTUNITIES LTD 30 Jun 06 Y $4'288 M 1,380.50 31 Dec 2.83% 8.44% 8.44% -18.24% 18.78% 49.67% 44.64% (24.80%)
John Paulson Oct 12 12 Apr 11 - Sep 11
SILVER POINT CAPITAL OFFSHORE LTD 31 Dec 01 Q $ 4'536 3,832.74 15 Jan 1.18% 1.17% 20.04% 4.52% 19.42% 12.93% 8.73% (35.48%)
Edward Mulé M 13 Jun 07 - Dec 08
Nov 12
STONE LION FUND LTD CLASS A 31 Oct 08 Q $ 585 M 1,993.59 22 Jan 1.88% 1.88% 11.21% 0.05% 9.25% 17.71% 9.35% (8.74%)
Greg Hanley and Alan Mintz Dec 12 13 Apr 11 - Sep 11
1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 15
Source - HSBC
16. Inception Liquidity Asset Last NAV or Date MTD YTD 2012 2011 2010 Ann. Return Ann. Vol Max
Dates Size Index Drawdown1
Ytd Avg. 2012
Distressed Security/Global 14.82%
STRATEGIC VALUE RESTRUCTURING FUND 31 Aug 02 Q/Y $1'159 M 296.20 25 Jan 2.46% 2.46% 13.09% -11.03% 13.12% 10.99% 7.91% (24.47%)
Victor Khosla Dec 12 13 May 07 - Jan 09
VR GLOBAL OFFSHORE FUND LTD 30 Apr 99 Q $1'227M 27,189.63 31 Dec 8.00% 20.69% 20.69% 3.58% 58.35% 27.30% 15.45% (48.38%)
Richard Deitz Dec 12 12 May 08 - Mar 09
Ytd Avg. 2012
Distressed Security/USA 24.47%
BEACH POINT TOTAL RETURN OFFSHORE FUND II, 30 Jun 96 Q $ 605 M 570.21 25 Jan 2.11% 2.11% 13.86% -0.98% 13% 11.07% 8.38% (24.04%)
LTD Dec 12 13 Oct 07 - Dec 08
Carl Goldsmith, Scott Klein,
BTG PACTUAL DISTRESSED MORTGAGE FUND 28 Feb 10 Q $ 245 M 163.59 31 Dec 2.76% 45.94% 45.95% -4.65% 17.56% 18.92% 9.44% (13.21%)
BTG Pactual Global Asset Management Dec 12 12 Apr 11 - Dec 11
HALCYON OFF. ASSET-BACKED VALUE FUND LTD 30 Nov 05 Q $ 2'670 2,579.78 15 Jan 0.75% 0.75% 16.14% 4.12% 25.33% 14.21% 5.69% (13.32%)
Joseph Wolnick ,Joseph Godley and Jim Coppola M 13 Aug 08 - Mar 09
Dec 12
REDWOOD OFFSHORE FUND 31 Jul 00 Y $2'840M 603.57 31 Dec 2.83% 21.94% 21.94% -1.98% 23.48% 15.56% 11.24% (36.28%)
Jonathan Kolatch Dec 12 12 May 07 - Dec 08
1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 16
Source - HSBC
17. Inception Liquidity Asset Last NAV or Date MTD YTD 2012 2011 2010 Ann. Return Ann. Vol Max
Dates Size Index Drawdown1
Equity-Commodity
Ytd Avg. 2012 0.51%
Ytd Avg. 2012
Equity-Commodity/Global 0.51%
GEOSPHERE FUND, LTD 30 Jun 07 Q $ 56 M 122.81 31 Dec 1.20% 1.65% 1.65% -2.21% 6.85% 3.80% 7.42% (15.83%)
Arvind Sanger and Prashant Kothari Dec 12 12 Jun 08 - Oct 08
MARTIN CURRIE ARF - GLOBAL RESOURCES 30 Sep 03 M $44 M 16.97 28 Jan 1.21% 1.21% -2.96% -11.36% 4.85% 5.83% 9.93% (23.42%)
Ruairidh Stewart / Duncan Goodwin Oct 12 13 Jun 08 - Jul 12
OCEANIC HEDGE FUND - CLASS A 31 Jul 02 M $589 M 3,052.88 25 Jan 5.29% 5.29% -7.73% 5.24% -0.5% 11.22% 8.42% (12.78%)
Cato Brahde, Andreas Vergottis, Bjorn Rise Oct 12 13 Nov 11 - Jul 12
VAN ECK HARD ASSETS 2X FUND LTD 31 Dec 04 M $203 M 190.85 31 Dec 0.41% 11.11% 11.11% -13.4% 10.2% 8.41% 11.04% (22.23%)
Shawn Reynolds and Charles Cameron Oct 12 12 Jun 08 - Nov 08
Equity-Diversified
Ytd Avg. 2012 8.27%
Ytd Avg. 2012
Equity-Diversified/Asia 6.12%
CC ASIA ABSOLUTE RETURN FUND 30 Jun 05 M $392 M 228.22 11 Jan 2.90% 2.90% -2.03% 9.08% 21.14% 11.57% 15.24% (27.12%)
Richard Cardiff, Angus Coupland Dec 12 13 Dec 07 - Dec 08
CHILTON CHINA OPPORTUNITIES FUND LTD 31 Dec 06 Q $ 37 M 182.96 25 Jan 3.53% 3.53% 6.6% -23.21% 0.42% 10.46% 17.51% (26.16%)
Kenneth Chiang Oct 12 13 Oct 10 - Aug 12
EVEREST CAPITAL ASIA 31 Dec 05 Q $ 185 M 191.73 31 Dec 7.10% 0.06% 0.06% -12.54% 6.72% 9.74% 20.14% (43.59%)
Marko Dimitrijevic Oct 12 12 Oct 07 - Feb 09
HT ASIAN CATALYST FUND LLC 31 Dec 98 M $243 M 19.00 31 Dec 1.60% 9.51% 9.51% -10.29% 4.43% 10.89% 11.73% (23.93%)
Ms. Ophelia Tong Dec 12 12 Mar 00 - Mar 01
JOHO FUND, LTD-A- 31 Oct 96 S $2'227M 1,458.45 25 Jan 1.34% 1.34% 8.83% 0.38% 17.9% 19.57% 16.12% (19.38%)
Robert Karr Dec 12 13 Nov 07 - Nov 08
KIMA PAN ASIA OFFSHORE FUND - CLASS -A- 30 Jun 09 M $2'897 M 1,170.36 31 Dec 3.42% (1.58%) -1.58% -5.39% 11.77% 4.59% 8.08% (17.30%)
Justin Klintberg, Michael Gallagher , Nov 12 12 May 11 - Aug 12
NEZU CYCLICALS FUND LTD 31 Jul 05 Q $183 M 187.09 25 Jan 2.50% 2.49% -6.58% -5.09% 7.53% 8.72% 13.04% (25.06%)
Fuyuki Fujiwara Jan 13 13 Oct 07 - Feb 09
OCTAGON PAN ASIA FUND 30 Sep 04 M $122 M 208.72 31 Dec 1.89% 11.79% 11.8% -6.07% -2.68% 9.32% 9.18% (10.69%)
Poh Min Lam & Nelson Chia Dec 12 12 Oct 07 - Jan 09
PINPOINT CHINA FUND CLASS A USD 31 May 05 M $496 M 715.49 18 Jan 5.36% 5.36% 8.06% 0.6% 5.87% 29.37% 21.65% (42.16%)
Qiang Wang Dec 12 13 Oct 07 - Nov 08
REAL RETURN ASIAN FUND LTD (THE) 30 Sep 04 M $427M 253.81 25 Jan 1.59% 1.59% 9.02% -9.19% 5.75% 11.84% 10.26% (15.09%)
Ezra Sun Dec 12 13 Apr 11 - May 12
1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 17
Source - HSBC
18. Inception Liquidity Asset Last NAV or Date MTD YTD 2012 2011 2010 Ann. Return Ann. Vol Max
Dates Size Index Drawdown1
Ytd Avg. 2012
Equity-Diversified/Asia 6.12%
SOFAER CAPL ASIAN HEDGE FD (Net Index) 31 Mar 89 M $120 M 1,025.94 31 Dec 2.04% (6.19%) -6.19% -6.66% -10.14% 10.29% 15.66% (35.36%)
Terence Khoo / Terence Lim Jun 07 12 Mar 00 - Mar 03
SR GLOBAL FUND - B - ASIA (Real Perf) 31 Dec 93 M $230M 645.92 23 Jan 1.70% 1.70% 3.08% -21.86% 5.38% 14.20% 18.67% (36.50%)
Richard Chenevix-Trench Oct 12 13 Feb 98 - Nov 98
TELLIGENT GREATER CHINA FUND 31 Jul 04 M $226 M 297.91 31 Dec 1.17% 10.76% 10.76% -17.35% 12.73% 13.83% 19.45% (46.90%)
Ching-Shan Lin Dec 12 12 Oct 07 - Oct 08
WF ASIA FUND LTD S/1 31 Jan 01 M $222 M 369.04 25 Jan 2.71% 2.71% 27.68% -7.21% -1.28% 11.50% 13.56% (37.65%)
Scobie Ward Jan 13 13 Oct 07 - Nov 08
ZEAL CHINA FUND LIMITED 31 Dec 09 M $369 M 143.00 25 Jan 1.79% 1.79% 12.9% 6.18% 17.18% 12.35% 15.62% (13.00%)
Daniel POON Chun Pong Dec 12 13 Dec 09 - Feb 10
Ytd Avg. 2012
Equity-Diversified/Brazil 4.01%
3G BRAZIL OFFSHORE FUND LTD 31 Dec 09 M $121 M 112.95 31 Dec 1.30% (3.01%) -3.01% 1.36% 14.89% 4.14% 7.95% (11.44%)
Jorge Paulo Lemann, Marcel Telles, Carlos Sicupira Jul 12 12 Jan 12 - May 12
BNY MELLON ARX BRAZIL FUND SPC LONG SHORT 31 Jan 07 M $ 66 M 1,671.42 25 Jan 0.77% 0.77% 11.03% 3.58% 11.7% 8.96% 9.33% (23.95%)
Bruno Garcia, Frederico Saraiva & Rogerio Poppe Dec 12 13 Jun 08 - Oct 08
Ytd Avg. 2012
Equity-Diversified/Emerging 9.11%
ADELPHI EMERGING EUROPE. FUND USD SHARES 31 Mar 07 Q $174 M 136.70 25 Jan 3.95% 3.95% -2.13% -15.92% 17.01% 5.51% 13.76% (28.62%)
Lars Dollmann Nov 12 13 May 08 - Jan 09
ARMAJARO EMERGING MARKETS FUND CLASS -A- 31 Jul 09 M $ 48 M 124.61 31 Dec 3.57% 17.35% 17.35% -22.31% 18.17% 6.64% 14.99% (28.30%)
Michel Danechi Dec 12 12 Apr 11 - Dec 11
EVEREST CAPITAL FRONTIER MARKETS 31 Jul 08 Q $195 M 130.78 31 Dec 3.40% 17.30% 17.3% -18.38% 30.64% 6.25% 15.30% (25.56%)
Marko Dimitrijevic Oct 12 12 Jul 08 - Feb 09
FIREBIRD NEW RUSSIA FUND, LTD - CLASS A 30 Jun 96 Q $ 180 M 2,476.32 18 Jan 4.57% 4.57% 11.42% -14.62% 40.35% 21.38% 40.42% (81.79%)
Harvey Sawikin & Ian Hague Dec 12 13 Mar 98 - Sep 98
FIREBIRD REPUBLICS FUND, LTD 30 Apr 97 Q $182M 1,011.48 18 Jan 8.96% 8.96% 13.26% -19.42% 29.51% 15.85% 31.21% (73.20%)
Harvey Sawikin & Ian Hague Dec 12 13 Sep 97 - Jan 99
GROWTH MANAGEMENT LTD 31 May 98 M $161 M 345.46 31 Dec 0.26% (6.37%) -6.37% -6.15% 1.08% 8.86% 7.31% (33.23%)
Stephan Pinter Nov 12 12 Jun 08 - Jul 12
HSBC GIF GEM EQUITY ABSOLUTE RETURN INSTIT. 31 Mar 10 D $23 M 10.06 14 Dec 1.11% 0.70% 0.7% -3.86% 3.86% 0.20% 9.35% (12.21%)
SHS Nov 12 12 Jan 12 - Aug 12
Nick Timberlake & Omar Negyal
HSBC INDIA ALPHA FUND 31 Mar 07 M $ 82 M 139.79 25 Jan 0.90% 0.90% 25.98% -19.9% 15.44% 5.92% 15.93% (34.72%)
Sanjiv Duggal, Nilang Mehta , Viresh Mehta Dec 12 13 Dec 07 - Nov 08
KALTCHUGA FUND - RUSSIA EQ. SUB-FUND -$- 15 Nov 00 BM $ 67 M 8,495.65 25 Jan 6.63% 6.63% 12.91% -20.88% 27.69% 19.16% 35.04% (81.80%)
J-L. Tauvy Oct 12 13 Dec 07 - Jan 09
1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 18
Source - HSBC