HISTORICALEXPOSURESJun11 Jul11 Aug11 Sep11 Oct11 Nov11 Dec11 Jan12 Feb12 Mar12 Apr12 May12 Jun12 Jul12 Aug12 Sep12 Oct12 Nov12 Dec12 Jan13 Feb13 Mar13 Apr13 May13 AVG

TotalLong 83.6 82.0 83.6 82.2 86.3 81.0 80.6 84.6 79.9 82.3 81.9 87.1 82.8 82.5 82.1 84.0 86.7 83.0 79.8 81.5 82.7 82.9 81.8 84.9 82.9TotalShort (51.1) (41.7) (50.3) (52.4) (45.9) (42.3) (44.6) (43.0) (43.9) (44.7) (49.0) (46.7) (44.0) (49.4) (41.4) (44.9) (50.4) (46.8) (46.8) (48.0) (48.0) (46.9) (47.6) (49.3) (46.6)TotalGross 134.8 123.7 133.9 134.6 132.2 123.4 125.1 127.6 123.7 127.0 130.9 133.8 126.9 131.9 123.5 128.9 137.1 129.9 126.5 129.5 130.7 129.7 129.4 134.2 129.5TotalNet 32.5 40.3 33.3 29.8 40.3 38.7 36.0 41.5 36.0 37.6 32.9 40.3 38.8 33.1 40.6 39.1 36.2 36.2 33.0 33.4 34.6 36.0 34.2 35.6 36.3AUM 6,433 6,490 5,596 5,886 5,958 5,128 6,331 6,490 5,489 5,278 5,415 6,478 5,707 5,925 6,065 5,180 6,218 6,261 6,274 5,846 6,079 5,849 5,822 5,090 5,887Long/ShortRatio 1.63 1.97 1.66 1.57 1.88 1.91 1.81 1.96 1.82 1.84 1.67 1.86 1.88 1.67 1.98 1.87 1.72 1.77 1.71 1.70 1.72 1.77 1.72 1.72 1.78Returns 2.6% (3.1%) (1.6%) (0.9%) (8.1%) (5.9%) (2.6%) (0.4%) 0.7% (0.2%) 0.6% 0.1% 3.5% 0.8% 1.9% 1.9% 1.7% (0.5%) 1.8% 1.6% (0.1%) 1.3% 2.3% 0.7% (0.1%)ROIC 1.9% (2.2%) (1.2%) (0.7%) (7.0%) (5.6%) (2.6%) (0.4%) 0.6% (0.2%) 0.6% 0.1% 3.0% 0.6% 1.5% 1.5% 1.3% (0.4%) 1.4% 1.2% (0.1%) 1.0% 1.7% 0.5% (0.1%)

84 82 84 82 86 81 81 85 80 82 82 87 83 82 82 84 87 83 80 81 83 83 82 85

51 42 50 52 46 42 45 43 44 45 49 47 44 49 41 45 50 47 47 48 48 47 48 49

(100.0)

(50.0)

50.0

100.0

150.0

Jun11 Jul11 Aug11 Sep11 Oct11 Nov11 Dec11 Jan12 Feb12 Mar12 Apr12 May12 Jun12 Jul12 Aug12 Sep12 Oct12 Nov12 Dec12 Jan13 Feb13 Mar13 Apr13 May13

Long Short Gross Net

(20.0%)

(15.0%)

(10.0%)

(5.0%)

0.0%

5.0%

Jun11 Jul11 Aug11 Sep11 Oct11 Nov11 Dec11 Jan12 Feb12 Mar12 Apr12 May12 Jun12 Jul12 Aug12 Sep12 Oct12 Nov12 Dec12 Jan13 Feb13 Mar13 Apr13 May13

Returns ROIC

0

1000

2000

3000

4000

5000

6000

7000

Jun11 Jul11 Aug11 Sep11 Oct11 Nov11 Dec11 Jan12 Feb12 Mar12 Apr12 May12 Jun12 Jul12 Aug12 Sep12 Oct12 Nov12 Dec12 Jan13 Feb13 Mar13 Apr13 May13

RestofFunds Next5(15) Next5(10) Top5

STRATEGYEXPOSUREGlobalMacroVolatilityArbitrageRelativeValueArbitrage(MuOtherStructuredCreditEventOtherEquityLongShortLoansCreditLongShortFixedIncomeArbitrageMergerArbitragePrivateSecuritiesDistressed/HighYieldRealEstateSpecialSituationsCTACurrencyConvertibleArbitrageCapitalStructureArbitrageIndexArbitrageHighYield

ASSETCLASSEXPOSUREEquityCommoditiesOptionsSovereignDebtCurrenciesCorporateBondsFixedIncomeOtherAssetsCDS/OptionsMBSPrivatesBankDebtPreferredEquity/Options

INDUSTRYEXPOSUREOtherFinancialsConsumerDiscretionaryMaterialsEnergyInformationTechnologyIndustrialsHealthCareIndexUtilitiesTelecommunicationServicesConsumerStaplesMiningDiversified 0.0% 0.0% 0.0% 0.0% 0.0%

0.8% (0.1%) 0.9% 0.7% 0.4%0.5% 0.0% 0.5% 0.5% 0.3%

0.9% (0.1%) 1.0% 0.8% 0.5%0.7% (0.3%) 1.0% 0.4% 0.5%

1.6% (0.2%) 1.8% 1.4% 0.9%0.3% (1.0%) 1.3% (0.7%) 0.6%

1.9% (0.2%) 2.1% 1.7% 1.1%1.5% (0.6%) 2.1% 1.0% 1.0%

2.2% (0.7%) 2.9% 1.6% 1.5%1.9% (0.4%) 2.2% 1.5% 1.1%

9.4% (2.0%) 11.5% 7.4% 5.8%3.8% (0.8%) 4.6% 2.9% 2.3%

Long Short Gross Net %Gross9.3% (9.5%) 18.7% (0.2%) 9.4%

0.0%0.0% 0.0% 0.0% 0.0% 0.0%0.0% 0.0% 0.0% 0.0%

0.9% 0.0% 0.9% 0.9% 0.5%0.0% 0.0% 0.0% 0.0% 0.0%

0.2% (3.3%) 3.5% (3.1%) 1.8%1.1% 0.0% 1.1% 1.1% 0.6%

5.2% (3.7%) 8.8% 1.5% 4.4%2.2% (2.1%) 4.3% 0.1% 2.2%

9.5% (10.0%) 19.5% (0.5%) 9.8%7.1% (10.1%) 17.2% (3.1%) 8.6%

14.6% (17.8%) 32.4% (3.1%) 16.3%14.4% (10.9%) 25.4% 3.5% 12.8%

28.5% (25.0%) 53.5% 3.4% 26.9%15.3% (16.9%) 32.2% (1.6%) 16.2%

0.0%0.0%

Long Short Gross Net %Gross

0.6%0.6%0.4%0.2%0.2%0.1%

4.9%4.5%3.7%2.7%2.2%1.0%

(0.0%)(0.0%)0.0%0.0%

16.2%10.3%9.4%6.7%6.3%5.1%

1.6%2.0%0.9%0.2%(0.1%)0.0%

1.0%(0.7%)(0.4%)0.1%0.8%2.3%

0.8%0.4%0.3%0.1%0.1%0.0%

7.5%5.5%4.4%2.0%1.2%1.2%

(0.0%)(0.0%)

32.4%20.6%18.7%13.5%12.5%10.2%9.7%9.0%

(0.2%)(0.5%)(0.4%)(0.2%)(0.2%)(0.1%)

(5.1%)(4.4%)(3.4%)(1.6%)(1.4%)(0.0%)

0.2%0.1%0.0%0.0%

(17.8%)(10.6%)(9.5%)(7.5%)(5.7%)(5.4%)

3.0%2.0%1.1%0.7%0.4%0.2%

6.8%4.7%4.6%4.6%4.1%3.9%

%Gross24.8%

14.6%10.1%9.3%6.0%

(3.1%)(0.5%)(0.2%)(1.5%)

23.7%Long Short

(25.9%)Gross49.6%

Net(2.2%)

GlobalMacroVolatilityArbitrageRelativeValueArbitrage(Multistrategy)OtherStructuredCreditEventOtherEquityLongShortLoansCreditLongShortFixedIncomeArbitrageMergerArbitragePrivateSecuritiesDistressed/HighYieldRealEstateSpecialSituationsCTACurrencyConvertibleArbitrageCapitalStructureArbitrageIndexArbitrageHighYield

Strategy

EquityCommoditiesOptionsSovereignDebtCurrenciesCorporateBondsFixedIncomeOtherAssetsCDS/OptionsMBSPrivatesBankDebtPreferredEquity/Options

Asset

OtherFinancialsConsumerDiscretionaryMaterialsEnergyInformationTechnologyIndustrialsHealthCareIndexUtilitiesTelecommunicationServicesConsumerStaplesMiningDiversified

Industry

MARKETCAPEXPOSURELargeMidMegaOtherMarketCapSmallMicro

GEOGRAPHYEXPOSUREUnitedStatesAsiaPacificWesternEuropeJapanOtherGeographyGlobal

PORTFOLIOSUMMARYPortfolioValueNumberofPositionsLongMktValue($MM)ShortMktValue($MM)GrossMktValue($MM)NetMktValue($MM)Cash($MM)

Top5Positions(%Equity)Top10Positions(%Equity)

PORTFOLIOSUMMARYLongMktValue(%Equity)ShortMktValue(%Equity)GrossMktValue(%Equity)NetMktValue(%Equity)Cash(%Equity)

70.6% 73.8% 56.1% 55.4% 71.6% 70.0%41.0% 41.0% 41.8% 44.7% 42.7% 40.0%9.1% 8.4% 9.5% 8.8% 9.8% 10.3%30.0% 30.6% 31.4% 32.8% 30.9% 31.9%115.0% 118.6% 118.3% 118.4% 116.8% 120.4%(42.5%) (44.0%) (43.5%) (42.8%) (43.0%) (44.2%)72.5% 74.6% 74.8% 75.6% 73.8% 76.2%Dec12 Jan13 Feb13 Mar13 Apr13 May13

5,09028

4,323(2,509)6,8321,813586

5,82230

4,762(2,771)7,5341,991629636

5,84929

4,847(2,742)7,5892,105561

1,955537

6,07929

5,026(2,920)7,9452,106

7,9382,069631

5,84631

4,764(2,809)7,573

May136,27431

5,004(2,935)

3.6% (4.0%) 7.6% (0.5%) 3.8%

Dec12 Jan13 Feb13 Mar13 Apr13

7.0% (7.4%) 14.4% (0.4%) 7.3%7.1% (5.2%) 12.2% 1.9% 6.2%

17.8% (14.7%) 32.5% 3.1% 16.3%13.9% (4.5%) 18.4% 9.4% 9.3%

Long Short Gross Net %Gross42.5% (6.4%) 48.9% 36.1% 24.6%

0.7% (0.4%) 1.1% 0.3% 0.5%0.0% (0.1%) 0.1% (0.0%) 0.1%

1.9% (2.1%) 4.0% (0.3%) 2.0%0.4% (0.9%) 1.3% (0.6%) 0.6%

6.6% (7.5%) 14.2% (0.9%) 7.1%6.1% (6.4%) 12.5% (0.3%) 6.3%

Long Short Gross Net %Gross

Large

Mid

Mega

OtherMarketCap

Small

Micro

MarketCap

UnitedStates

AsiaPacific

WesternEurope

Japan

OtherGeography

Global

Geography

HISTORICALEXPOSURESJun11 Jul11 Aug11 Sep11 Oct11 Nov11 Dec11 Jan12 Feb12 Mar12 Apr12 May12 Jun12 Jul12 Aug12 Sep12 Oct12 Nov12 Dec12 Jan13 Feb13 Mar13 Apr13 May13 AVG

TotalLong 83.6 82.0 83.6 82.2 86.3 81.0 80.6 84.6 79.9 82.3 81.9 87.1 82.8 82.5 82.1 84.0 86.7 83.0 79.8 81.5 82.7 82.9 81.8 84.9 82.9TotalShort (51.1) (41.7) (50.3) (52.4) (45.9) (42.3) (44.6) (43.0) (43.9) (44.7) (49.0) (46.7) (44.0) (49.4) (41.4) (44.9) (50.4) (46.8) (46.8) (48.0) (48.0) (46.9) (47.6) (49.3) (46.6)TotalGross 134.8 123.7 133.9 134.6 132.2 123.4 125.1 127.6 123.7 127.0 130.9 133.8 126.9 131.9 123.5 128.9 137.1 129.9 126.5 129.5 130.7 129.7 129.4 134.2 129.5TotalNet 32.5 40.3 33.3 29.8 40.3 38.7 36.0 41.5 36.0 37.6 32.9 40.3 38.8 33.1 40.6 39.1 36.2 36.2 33.0 33.4 34.6 36.0 34.2 35.6 36.3AUM 6,433 6,490 5,596 5,886 5,958 5,128 6,331 6,490 5,489 5,278 5,415 6,478 5,707 5,925 6,065 5,180 6,218 6,261 6,274 5,846 6,079 5,849 5,822 5,090 5,887Coverage 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%

INDIVIDUALEXPOSURESManager1 Long 67.1 69.8 78.3 78.5 76.4 68.2 71.9 73.4 74.7 67.1 69.7 77.6 74.4 78.1 67.4 73.8 78.0 75.7 78.2 70.1 73.4 78.2 69.6 68.9 73.3

Short (41.4) (40.0) (59.4) (57.1) (39.3) (42.8) (47.1) (52.7) (44.7) (42.4) (38.5) (45.1) (42.9) (44.2) (57.4) (47.0) (52.2) (37.5) (49.4) (37.3) (58.5) (52.8) (58.5) (53.7) (47.6)Gross 108.5 109.8 137.7 135.7 115.7 111.0 119.0 126.1 119.5 109.5 108.1 122.7 117.3 122.3 124.7 120.8 130.2 113.2 127.6 107.3 131.9 130.9 128.1 122.6 120.8Net 25.7 29.8 18.9 21.4 37.1 25.4 24.8 20.7 30.0 24.8 31.2 32.5 31.6 33.9 10.0 26.9 25.7 38.2 28.8 32.8 14.8 25.4 11.1 15.3 25.7Weight 0.9% 1.2% 1.2% 1.1% 1.2% 0.9% 1.4% 1.4% 1.4% 1.0% 0.9% 1.1% 0.8% 1.2% 1.3% 0.9% 1.4% 1.2% 1.3% 1.4% 0.8% 0.9% 0.8% 0.9% 1.1%

Manager2 Long 87.1 77.2 83.6 84.4 83.2 81.5 87.2 85.8 86.0 79.4 87.6 85.3 85.9 88.6 83.5 87.6 85.2 83.6 77.1 79.0 88.1 78.2 77.0 88.2 83.8Short (54.6) (37.1) (58.5) (56.0) (44.5) (46.7) (59.6) (52.6) (46.1) (47.6) (49.3) (46.9) (39.0) (59.2) (52.0) (38.9) (47.6) (58.5) (41.1) (43.1) (47.6) (45.1) (53.6) (45.8) (48.8)Gross 141.7 114.3 142.1 140.5 127.8 128.2 146.7 138.4 132.0 127.0 137.0 132.2 124.9 147.8 135.4 126.5 132.8 142.1 118.2 122.1 135.8 123.3 130.6 134.0 132.5Net 32.5 40.0 25.0 28.4 38.7 34.9 27.6 33.2 39.9 31.8 38.3 38.4 46.9 29.4 31.5 48.6 37.6 25.0 36.0 35.9 40.5 33.1 23.4 42.4 35.0Weight 2.6% 2.5% 2.5% 2.9% 2.6% 2.9% 2.8% 2.6% 2.4% 2.8% 2.9% 2.6% 2.6% 2.9% 2.9% 2.6% 2.4% 2.3% 2.4% 2.4% 3.1% 2.4% 2.6% 2.9% 2.6%

Manager3 Long 58.4 65.1 66.9 64.2 57.3 59.6 61.1 62.6 68.8 59.6 61.3 65.8 62.9 58.8 68.6 60.3 68.9 61.3 61.1 65.4 58.5 66.8 65.4 65.3 63.1Short (54.1) (40.2) (58.0) (59.6) (45.5) (42.0) (52.5) (41.4) (40.7) (39.7) (60.9) (55.3) (44.0) (47.8) (38.9) (56.0) (55.6) (52.6) (42.4) (50.7) (51.2) (51.9) (50.7) (55.6) (49.5)Gross 112.5 105.2 124.9 123.7 102.8 101.6 113.6 104.0 109.5 99.2 122.2 121.1 106.9 106.5 107.6 116.3 124.5 113.9 103.4 116.1 109.7 118.8 116.1 120.9 112.5Net 4.3 24.9 9.0 4.6 11.9 17.6 8.6 21.3 28.1 19.9 0.3 10.6 19.0 11.0 29.7 4.4 13.4 8.8 18.7 14.7 7.3 14.9 14.7 9.7 13.6Weight 4.4% 4.3% 4.3% 3.9% 4.0% 4.4% 4.3% 4.0% 3.8% 3.8% 3.9% 3.9% 3.8% 3.7% 4.0% 4.1% 3.7% 4.4% 4.2% 3.9% 4.4% 4.2% 4.3% 4.3% 4.1%

Manager4 Long 109.6 104.9 108.2 101.5 106.6 101.7 100.4 102.1 105.3 101.1 101.5 109.9 97.6 100.4 98.6 104.0 108.3 102.2 100.6 105.5 105.0 107.3 105.3 99.4 103.6Short (54.1) (58.7) (57.3) (46.9) (42.6) (39.5) (44.3) (41.2) (58.0) (45.3) (49.3) (48.2) (43.7) (40.6) (40.9) (50.0) (48.3) (45.9) (59.7) (59.0) (46.5) (53.8) (61.8) (54.9) (49.6)Gross 163.7 163.7 165.6 148.4 149.3 141.3 144.8 143.2 163.4 146.4 150.7 158.1 141.3 141.0 139.4 154.0 156.5 148.1 160.3 164.6 151.5 161.1 167.2 154.3 153.2Net 55.6 46.2 50.9 54.6 64.0 62.2 56.1 60.9 47.3 55.8 52.2 61.7 54.0 59.8 57.7 54.0 60.0 56.3 40.9 46.5 58.4 53.5 43.5 44.6 54.0Weight 1.0% 1.0% 1.1% 1.1% 1.5% 1.2% 1.4% 0.9% 1.0% 1.5% 0.9% 1.5% 1.2% 0.8% 1.0% 0.9% 1.0% 1.3% 0.9% 1.1% 1.6% 1.1% 1.2% 1.4% 1.1%

Manager5 Long 72.7 70.1 76.1 78.6 78.1 67.6 69.4 75.6 74.5 71.2 71.9 67.7 72.5 73.8 74.4 77.9 75.9 72.8 68.1 68.3 76.3 77.8 76.4 78.2 73.6Short (56.2) (38.2) (56.0) (60.8) (61.4) (40.3) (55.1) (38.4) (39.5) (57.8) (49.9) (51.0) (47.6) (56.4) (53.8) (46.3) (40.9) (55.5) (46.9) (58.3) (55.0) (56.6) (53.2) (55.7) (51.3)Gross 128.9 108.3 132.1 139.4 139.5 107.9 124.5 114.0 114.0 129.0 121.8 118.7 120.0 130.2 128.2 124.3 116.8 128.2 115.0 126.6 131.2 134.4 129.6 133.9 124.8Net 16.5 31.9 20.1 17.8 16.8 27.4 14.3 37.2 35.0 13.4 22.1 16.7 24.9 17.4 20.5 31.6 35.1 17.3 21.1 10.1 21.3 21.1 23.2 22.6 22.3Weight 0.5% 0.5% 0.5% 0.6% 0.7% 0.6% 0.5% 0.5% 0.5% 0.6% 0.7% 0.7% 0.6% 0.5% 0.6% 0.5% 0.4% 0.7% 0.4% 0.5% 0.5% 0.4% 0.5% 0.6% 0.5%

Manager6 Long 75.2 80.9 77.9 73.5 76.1 69.1 81.8 79.5 79.3 81.4 86.8 85.5 74.2 84.5 76.7 80.4 87.7 85.9 82.5 78.3 71.1 69.7 73.5 75.1 78.6Short (59.9) (39.9) (47.4) (56.1) (59.1) (42.8) (44.0) (37.5) (43.8) (42.6) (52.3) (39.9) (44.7) (54.0) (41.2) (38.6) (44.7) (51.6) (51.1) (46.0) (38.2) (51.3) (47.7) (46.0) (46.7)Gross 135.0 120.8 125.3 129.6 135.2 111.9 125.8 117.0 123.1 123.9 139.1 125.4 118.9 138.5 117.9 119.0 132.5 137.5 133.6 124.3 109.3 121.0 121.2 121.1 125.3Net 15.3 41.0 30.4 17.4 16.9 26.2 37.8 42.0 35.4 38.8 34.5 45.5 29.6 30.6 35.5 41.8 43.0 34.3 31.4 32.3 32.9 18.3 25.8 29.1 31.9Weight 8.3% 7.4% 7.2% 8.1% 6.8% 6.7% 8.0% 8.0% 8.6% 7.1% 8.5% 6.9% 5.9% 7.2% 7.8% 7.7% 7.5% 8.2% 8.3% 8.7% 6.7% 6.6% 6.3% 8.0% 7.5%

Manager7 Long 77.2 71.8 70.5 68.1 77.0 73.1 71.6 71.3 67.2 76.9 76.5 67.6 76.1 70.3 73.3 78.6 77.6 73.2 73.6 76.1 71.2 67.2 76.6 77.9 73.3Short (43.3) (38.4) (37.8) (60.7) (39.3) (39.3) (45.9) (39.3) (37.8) (43.4) (58.8) (51.4) (41.0) (55.6) (42.6) (53.5) (59.9) (48.1) (61.6) (54.1) (55.7) (48.6) (53.0) (54.2) (48.5)Gross 120.5 110.2 108.2 128.8 116.3 112.4 117.5 110.7 105.0 120.3 135.3 118.9 117.2 125.9 115.9 132.1 137.6 121.2 135.1 130.1 126.9 115.9 129.7 132.1 121.8Net 33.9 33.4 32.7 7.3 37.7 33.8 25.7 32.0 29.3 33.5 17.7 16.2 35.1 14.7 30.7 25.1 17.7 25.1 12.0 22.0 15.4 18.6 23.6 23.8 24.9Weight 4.9% 4.7% 5.1% 4.8% 5.2% 5.3% 4.7% 4.7% 5.0% 4.9% 4.5% 5.2% 5.0% 4.5% 4.5% 5.0% 5.1% 4.5% 4.9% 4.4% 5.4% 4.7% 4.8% 5.0% 4.9%

Manager8 Long 125.8 117.2 123.6 134.1 133.6 133.2 126.8 125.1 118.4 118.0 127.1 137.7 134.0 138.1 130.9 134.5 120.7 127.5 119.9 124.3 123.8 124.2 134.1 127.4 127.5Short (52.1) (54.9) (50.6) (43.9) (42.8) (50.2) (44.5) (44.7) (51.5) (37.4) (60.5) (37.1) (50.5) (55.4) (37.3) (47.9) (56.7) (49.7) (44.6) (47.8) (56.0) (39.0) (41.3) (43.6) (47.5)Gross 177.9 172.1 174.2 177.9 176.4 183.4 171.3 169.8 169.9 155.3 187.6 174.8 184.5 193.5 168.2 182.5 177.4 177.2 164.4 172.1 179.8 163.2 175.4 171.0 175.0Net 73.8 62.4 73.0 90.2 90.8 83.0 82.3 80.4 66.9 80.6 66.7 100.6 83.5 82.7 93.6 86.6 64.0 77.8 75.3 76.5 67.8 85.2 92.8 83.8 80.0Weight 3.4% 3.6% 3.6% 3.7% 3.6% 3.8% 3.6% 3.3% 3.3% 3.7% 3.5% 3.5% 3.6% 3.7% 3.5% 3.3% 3.3% 3.7% 3.6% 3.3% 3.8% 3.7% 3.4% 3.5% 3.5%

Manager9 Long 117.7 116.6 107.6 108.9 108.4 109.0 111.0 111.5 108.2 118.0 115.1 114.4 112.4 111.7 112.5 108.9 115.3 115.1 112.0 117.6 116.7 108.0 108.0 117.2 112.6Short (54.1) (43.5) (47.5) (55.5) (46.3) (46.5) (46.4) (51.0) (56.8) (51.1) (46.0) (53.8) (61.5) (44.1) (43.5) (41.3) (60.8) (45.0) (43.8) (56.9) (49.9) (47.0) (53.4) (38.2) (49.3)Gross 171.8 160.1 155.1 164.4 154.7 155.5 157.4 162.5 165.0 169.2 161.1 168.1 173.9 155.8 156.0 150.2 176.1 160.1 155.8 174.5 166.6 155.0 161.4 155.3 161.9Net 63.7 73.1 60.1 53.5 62.1 62.6 64.6 60.5 51.4 66.9 69.0 60.6 51.0 67.6 69.0 67.7 54.5 70.1 68.1 60.7 66.9 61.0 54.6 79.0 63.2Weight 7.1% 6.5% 8.0% 6.2% 6.4% 5.8% 5.6% 8.3% 5.6% 7.3% 5.2% 7.7% 7.7% 5.0% 5.2% 6.3% 8.1% 4.8% 5.8% 6.8% 5.8% 9.1% 8.5% 8.1% 6.7%

Manager10 Long 72.1 71.7 69.4 77.2 78.7 76.4 68.4 75.0 78.3 70.2 74.2 77.9 78.2 71.5 78.2 77.3 74.5 74.8 75.8 76.4 74.1 67.1 67.1 75.3 74.2Short (50.2) (40.2) (57.9) (52.7) (44.4) (47.9) (38.9) (51.6) (53.0) (60.8) (44.1) (50.1) (45.6) (60.6) (49.0) (45.7) (51.2) (44.1) (53.1) (53.4) (45.3) (37.3) (45.2) (61.4) (49.3)Gross 122.3 111.9 127.3 129.9 123.1 124.4 107.4 126.6 131.2 131.0 118.3 128.1 123.7 132.1 127.2 123.0 125.8 118.9 128.9 129.8 119.4 104.4 112.3 136.7 123.5Net 21.9 31.5 11.5 24.5 34.4 28.5 29.5 23.3 25.3 9.5 30.1 27.8 32.6 10.9 29.1 31.6 23.3 30.8 22.7 22.9 28.8 29.7 21.9 14.0 24.8Weight 8.1% 8.2% 8.2% 7.6% 7.9% 8.1% 8.2% 7.5% 7.6% 7.6% 8.1% 8.0% 7.9% 7.7% 7.4% 7.8% 7.8% 8.0% 7.7% 8.0% 8.3% 7.7% 7.5% 8.3% 7.9%

HISTORICALEXPOSURESJun11 Jul11 Aug11 Sep11 Oct11 Nov11 Dec11 Jan12 Feb12 Mar12 Apr12 May12 Jun12 Jul12 Aug12 Sep12 Oct12 Nov12 Dec12 Jan13 Feb13 Mar13 Apr13 May13 AVG

TotalLong 83.6 82.0 83.6 82.2 86.3 81.0 80.6 84.6 79.9 82.3 81.9 87.1 82.8 82.5 82.1 84.0 86.7 83.0 79.8 81.5 82.7 82.9 81.8 84.9 82.9TotalShort (51.1) (41.7) (50.3) (52.4) (45.9) (42.3) (44.6) (43.0) (43.9) (44.7) (49.0) (46.7) (44.0) (49.4) (41.4) (44.9) (50.4) (46.8) (46.8) (48.0) (48.0) (46.9) (47.6) (49.3) (46.6)TotalGross 134.8 123.7 133.9 134.6 132.2 123.4 125.1 127.6 123.7 127.0 130.9 133.8 126.9 131.9 123.5 128.9 137.1 129.9 126.5 129.5 130.7 129.7 129.4 134.2 129.5TotalNet 32.5 40.3 33.3 29.8 40.3 38.7 36.0 41.5 36.0 37.6 32.9 40.3 38.8 33.1 40.6 39.1 36.2 36.2 33.0 33.4 34.6 36.0 34.2 35.6 36.3AUM 6,433 6,490 5,596 5,886 5,958 5,128 6,331 6,490 5,489 5,278 5,415 6,478 5,707 5,925 6,065 5,180 6,218 6,261 6,274 5,846 6,079 5,849 5,822 5,090 5,887Coverage 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%

INDIVIDUALEXPOSURESManager11 Long 67.1 69.8 78.3 78.5 76.4 68.2 71.9 73.4 74.7 67.1 69.7 77.6 74.4 78.1 67.4 73.8 78.0 75.7 78.2 70.1 73.4 78.2 69.6 68.9 73.3

Short (41.4) (40.0) (59.4) (57.1) (39.3) (42.8) (47.1) (52.7) (44.7) (42.4) (38.5) (45.1) (42.9) (44.2) (57.4) (47.0) (52.2) (37.5) (49.4) (37.3) (58.5) (52.8) (58.5) (53.7) (47.6)Gross 108.5 109.8 137.7 135.7 115.7 111.0 119.0 126.1 119.5 109.5 108.1 122.7 117.3 122.3 124.7 120.8 130.2 113.2 127.6 107.3 131.9 130.9 128.1 122.6 120.8Net 25.7 29.8 18.9 21.4 37.1 25.4 24.8 20.7 30.0 24.8 31.2 32.5 31.6 33.9 10.0 26.9 25.7 38.2 28.8 32.8 14.8 25.4 11.1 15.3 25.7Weight 0.8% 1.2% 1.0% 1.0% 1.3% 1.2% 0.8% 0.9% 1.1% 1.3% 1.3% 1.0% 0.9% 1.3% 1.3% 1.2% 1.3% 1.0% 1.2% 1.1% 1.2% 1.1% 0.8% 1.1% 1.1%

Manager12 Long 87.1 77.2 83.6 84.4 83.2 81.5 87.2 85.8 86.0 79.4 87.6 85.3 85.9 88.6 83.5 87.6 85.2 83.6 77.1 79.0 88.1 78.2 77.0 88.2 83.8Short (54.6) (37.1) (58.5) (56.0) (44.5) (46.7) (59.6) (52.6) (46.1) (47.6) (49.3) (46.9) (39.0) (59.2) (52.0) (38.9) (47.6) (58.5) (41.1) (43.1) (47.6) (45.1) (53.6) (45.8) (48.8)Gross 141.7 114.3 142.1 140.5 127.8 128.2 146.7 138.4 132.0 127.0 137.0 132.2 124.9 147.8 135.4 126.5 132.8 142.1 118.2 122.1 135.8 123.3 130.6 134.0 132.5Net 32.5 40.0 25.0 28.4 38.7 34.9 27.6 33.2 39.9 31.8 38.3 38.4 46.9 29.4 31.5 48.6 37.6 25.0 36.0 35.9 40.5 33.1 23.4 42.4 35.0Weight 0.4% 0.5% 0.6% 0.5% 0.5% 0.4% 0.7% 0.4% 0.7% 0.7% 0.7% 0.6% 0.4% 0.6% 0.7% 0.4% 0.6% 0.7% 0.5% 0.4% 0.5% 0.6% 0.7% 0.4% 0.6%

Manager13 Long 58.4 65.1 66.9 64.2 57.3 59.6 61.1 62.6 68.8 59.6 61.3 65.8 62.9 58.8 68.6 60.3 68.9 61.3 61.1 65.4 58.5 66.8 65.4 65.3 63.1Short (54.1) (40.2) (58.0) (59.6) (45.5) (42.0) (52.5) (41.4) (40.7) (39.7) (60.9) (55.3) (44.0) (47.8) (38.9) (56.0) (55.6) (52.6) (42.4) (50.7) (51.2) (51.9) (50.7) (55.6) (49.5)Gross 112.5 105.2 124.9 123.7 102.8 101.6 113.6 104.0 109.5 99.2 122.2 121.1 106.9 106.5 107.6 116.3 124.5 113.9 103.4 116.1 109.7 118.8 116.1 120.9 112.5Net 4.3 24.9 9.0 4.6 11.9 17.6 8.6 21.3 28.1 19.9 0.3 10.6 19.0 11.0 29.7 4.4 13.4 8.8 18.7 14.7 7.3 14.9 14.7 9.7 13.6Weight 7.7% 7.0% 6.5% 8.2% 6.5% 7.2% 6.7% 8.0% 6.2% 6.2% 7.1% 8.0% 8.2% 7.9% 8.7% 8.6% 6.5% 8.0% 7.6% 6.2% 6.7% 6.6% 6.7% 8.2% 7.3%

Manager14 Long 109.6 104.9 108.2 101.5 106.6 101.7 100.4 102.1 105.3 101.1 101.5 109.9 97.6 100.4 98.6 104.0 108.3 102.2 100.6 105.5 105.0 107.3 105.3 99.4 103.6Short (54.1) (58.7) (57.3) (46.9) (42.6) (39.5) (44.3) (41.2) (58.0) (45.3) (49.3) (48.2) (43.7) (40.6) (40.9) (50.0) (48.3) (45.9) (59.7) (59.0) (46.5) (53.8) (61.8) (54.9) (49.6)Gross 163.7 163.7 165.6 148.4 149.3 141.3 144.8 143.2 163.4 146.4 150.7 158.1 141.3 141.0 139.4 154.0 156.5 148.1 160.3 164.6 151.5 161.1 167.2 154.3 153.2Net 55.6 46.2 50.9 54.6 64.0 62.2 56.1 60.9 47.3 55.8 52.2 61.7 54.0 59.8 57.7 54.0 60.0 56.3 40.9 46.5 58.4 53.5 43.5 44.6 54.0Weight 4.9% 5.1% 5.3% 4.7% 5.4% 5.0% 4.9% 4.6% 4.7% 4.8% 4.5% 5.1% 4.8% 4.5% 4.4% 5.1% 4.4% 4.9% 4.5% 4.7% 5.3% 4.7% 5.0% 4.5% 4.8%

Manager15 Long 72.7 70.1 76.1 78.6 78.1 67.6 69.4 75.6 74.5 71.2 71.9 67.7 72.5 73.8 74.4 77.9 75.9 72.8 68.1 68.3 76.3 77.8 76.4 78.2 73.6Short (56.2) (38.2) (56.0) (60.8) (61.4) (40.3) (55.1) (38.4) (39.5) (57.8) (49.9) (51.0) (47.6) (56.4) (53.8) (46.3) (40.9) (55.5) (46.9) (58.3) (55.0) (56.6) (53.2) (55.7) (51.3)Gross 128.9 108.3 132.1 139.4 139.5 107.9 124.5 114.0 114.0 129.0 121.8 118.7 120.0 130.2 128.2 124.3 116.8 128.2 115.0 126.6 131.2 134.4 129.6 133.9 124.8Net 16.5 31.9 20.1 17.8 16.8 27.4 14.3 37.2 35.0 13.4 22.1 16.7 24.9 17.4 20.5 31.6 35.1 17.3 21.1 10.1 21.3 21.1 23.2 22.6 22.3Weight 2.8% 2.9% 2.6% 2.7% 2.4% 2.4% 3.0% 2.9% 2.6% 2.9% 2.6% 2.7% 2.7% 2.8% 2.8% 2.5% 2.2% 2.9% 2.2% 2.8% 2.8% 2.9% 2.5% 2.9% 2.7%

Manager16 Long 75.2 80.9 77.9 73.5 76.1 69.1 81.8 79.5 79.3 81.4 86.8 85.5 74.2 84.5 76.7 80.4 87.7 85.9 82.5 78.3 71.1 69.7 73.5 75.1 78.6Short (59.9) (39.9) (47.4) (56.1) (59.1) (42.8) (44.0) (37.5) (43.8) (42.6) (52.3) (39.9) (44.7) (54.0) (41.2) (38.6) (44.7) (51.6) (51.1) (46.0) (38.2) (51.3) (47.7) (46.0) (46.7)Gross 135.0 120.8 125.3 129.6 135.2 111.9 125.8 117.0 123.1 123.9 139.1 125.4 118.9 138.5 117.9 119.0 132.5 137.5 133.6 124.3 109.3 121.0 121.2 121.1 125.3Net 15.3 41.0 30.4 17.4 16.9 26.2 37.8 42.0 35.4 38.8 34.5 45.5 29.6 30.6 35.5 41.8 43.0 34.3 31.4 32.3 32.9 18.3 25.8 29.1 31.9Weight 4.2% 4.0% 4.3% 3.7% 4.2% 3.9% 3.8% 3.8% 4.4% 3.8% 4.2% 4.2% 3.9% 4.1% 4.2% 4.2% 4.3% 3.7% 3.9% 4.0% 4.1% 4.4% 3.7% 4.0% 4.0%

Manager17 Long 77.2 71.8 70.5 68.1 77.0 73.1 71.6 71.3 67.2 76.9 76.5 67.6 76.1 70.3 73.3 78.6 77.6 73.2 73.6 76.1 71.2 67.2 76.6 77.9 73.3Short (43.3) (38.4) (37.8) (60.7) (39.3) (39.3) (45.9) (39.3) (37.8) (43.4) (58.8) (51.4) (41.0) (55.6) (42.6) (53.5) (59.9) (48.1) (61.6) (54.1) (55.7) (48.6) (53.0) (54.2) (48.5)Gross 120.5 110.2 108.2 128.8 116.3 112.4 117.5 110.7 105.0 120.3 135.3 118.9 117.2 125.9 115.9 132.1 137.6 121.2 135.1 130.1 126.9 115.9 129.7 132.1 121.8Net 33.9 33.4 32.7 7.3 37.7 33.8 25.7 32.0 29.3 33.5 17.7 16.2 35.1 14.7 30.7 25.1 17.7 25.1 12.0 22.0 15.4 18.6 23.6 23.8 24.9Weight 1.6% 1.2% 1.3% 1.2% 1.6% 1.8% 1.7% 1.3% 1.8% 1.8% 1.3% 1.9% 1.3% 1.6% 1.7% 1.5% 1.6% 1.6% 1.3% 1.3% 1.3% 1.9% 1.1% 1.2% 1.5%

Manager18 Long 125.8 117.2 123.6 134.1 133.6 133.2 126.8 125.1 118.4 118.0 127.1 137.7 134.0 138.1 130.9 134.5 120.7 127.5 119.9 124.3 123.8 124.2 134.1 127.4 127.5Short (52.1) (54.9) (50.6) (43.9) (42.8) (50.2) (44.5) (44.7) (51.5) (37.4) (60.5) (37.1) (50.5) (55.4) (37.3) (47.9) (56.7) (49.7) (44.6) (47.8) (56.0) (39.0) (41.3) (43.6) (47.5)Gross 177.9 172.1 174.2 177.9 176.4 183.4 171.3 169.8 169.9 155.3 187.6 174.8 184.5 193.5 168.2 182.5 177.4 177.2 164.4 172.1 179.8 163.2 175.4 171.0 175.0Net 73.8 62.4 73.0 90.2 90.8 83.0 82.3 80.4 66.9 80.6 66.7 100.6 83.5 82.7 93.6 86.6 64.0 77.8 75.3 76.5 67.8 85.2 92.8 83.8 80.0Weight 1.4% 1.2% 0.9% 0.8% 1.3% 1.1% 0.8% 1.0% 1.1% 1.3% 1.2% 0.9% 1.2% 1.3% 1.0% 1.0% 1.1% 1.5% 1.0% 0.9% 1.2% 1.5% 1.2% 1.4% 1.1%

Manager19 Long 117.7 116.6 107.6 108.9 108.4 109.0 111.0 111.5 108.2 118.0 115.1 114.4 112.4 111.7 112.5 108.9 115.3 115.1 112.0 117.6 116.7 108.0 108.0 117.2 112.6Short (54.1) (43.5) (47.5) (55.5) (46.3) (46.5) (46.4) (51.0) (56.8) (51.1) (46.0) (53.8) (61.5) (44.1) (43.5) (41.3) (60.8) (45.0) (43.8) (56.9) (49.9) (47.0) (53.4) (38.2) (49.3)Gross 171.8 160.1 155.1 164.4 154.7 155.5 157.4 162.5 165.0 169.2 161.1 168.1 173.9 155.8 156.0 150.2 176.1 160.1 155.8 174.5 166.6 155.0 161.4 155.3 161.9Net 63.7 73.1 60.1 53.5 62.1 62.6 64.6 60.5 51.4 66.9 69.0 60.6 51.0 67.6 69.0 67.7 54.5 70.1 68.1 60.7 66.9 61.0 54.6 79.0 63.2Weight 2.5% 3.1% 2.8% 2.7% 3.0% 3.0% 2.8% 2.9% 2.7% 2.9% 2.5% 2.4% 2.9% 2.9% 2.7% 2.4% 2.8% 2.8% 2.5% 2.7% 2.5% 2.6% 2.9% 2.6% 2.7%

Manager20 Long 72.1 71.7 69.4 77.2 78.7 76.4 68.4 75.0 78.3 70.2 74.2 77.9 78.2 71.5 78.2 77.3 74.5 74.8 75.8 76.4 74.1 67.1 67.1 75.3 74.2Short (50.2) (40.2) (57.9) (52.7) (44.4) (47.9) (38.9) (51.6) (53.0) (60.8) (44.1) (50.1) (45.6) (60.6) (49.0) (45.7) (51.2) (44.1) (53.1) (53.4) (45.3) (37.3) (45.2) (61.4) (49.3)Gross 122.3 111.9 127.3 129.9 123.1 124.4 107.4 126.6 131.2 131.0 118.3 128.1 123.7 132.1 127.2 123.0 125.8 118.9 128.9 129.8 119.4 104.4 112.3 136.7 123.5Net 21.9 31.5 11.5 24.5 34.4 28.5 29.5 23.3 25.3 9.5 30.1 27.8 32.6 10.9 29.1 31.6 23.3 30.8 22.7 22.9 28.8 29.7 21.9 14.0 24.8Weight 4.1% 4.4% 4.0% 4.0% 4.7% 4.4% 4.3% 4.5% 4.0% 4.3% 4.0% 4.4% 4.0% 4.1% 3.6% 3.9% 4.2% 4.3% 4.0% 4.0% 4.0% 3.9% 3.8% 3.9% 4.1%

HISTORICALEXPOSURESJun11 Jul11 Aug11 Sep11 Oct11 Nov11 Dec11 Jan12 Feb12 Mar12 Apr12 May12 Jun12 Jul12 Aug12 Sep12 Oct12 Nov12 Dec12 Jan13 Feb13 Mar13 Apr13 May13 AVG

TotalLong 83.6 82.0 83.6 82.2 86.3 81.0 80.6 84.6 79.9 82.3 81.9 87.1 82.8 82.5 82.1 84.0 86.7 83.0 79.8 81.5 82.7 82.9 81.8 84.9 82.9TotalShort (51.1) (41.7) (50.3) (52.4) (45.9) (42.3) (44.6) (43.0) (43.9) (44.7) (49.0) (46.7) (44.0) (49.4) (41.4) (44.9) (50.4) (46.8) (46.8) (48.0) (48.0) (46.9) (47.6) (49.3) (46.6)TotalGross 134.8 123.7 133.9 134.6 132.2 123.4 125.1 127.6 123.7 127.0 130.9 133.8 126.9 131.9 123.5 128.9 137.1 129.9 126.5 129.5 130.7 129.7 129.4 134.2 129.5TotalNet 32.5 40.3 33.3 29.8 40.3 38.7 36.0 41.5 36.0 37.6 32.9 40.3 38.8 33.1 40.6 39.1 36.2 36.2 33.0 33.4 34.6 36.0 34.2 35.6 36.3AUM 6,433 6,490 5,596 5,886 5,958 5,128 6,331 6,490 5,489 5,278 5,415 6,478 5,707 5,925 6,065 5,180 6,218 6,261 6,274 5,846 6,079 5,849 5,822 5,090 5,887Coverage 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%

INDIVIDUALEXPOSURESManager21 Long 67.1 69.8 78.3 78.5 76.4 68.2 71.9 73.4 74.7 67.1 69.7 77.6 74.4 78.1 67.4 73.8 78.0 75.7 78.2 70.1 73.4 78.2 69.6 68.9 73.3

Short (41.4) (40.0) (59.4) (57.1) (39.3) (42.8) (47.1) (52.7) (44.7) (42.4) (38.5) (45.1) (42.9) (44.2) (57.4) (47.0) (52.2) (37.5) (49.4) (37.3) (58.5) (52.8) (58.5) (53.7) (47.6)Gross 108.5 109.8 137.7 135.7 115.7 111.0 119.0 126.1 119.5 109.5 108.1 122.7 117.3 122.3 124.7 120.8 130.2 113.2 127.6 107.3 131.9 130.9 128.1 122.6 120.8Net 25.7 29.8 18.9 21.4 37.1 25.4 24.8 20.7 30.0 24.8 31.2 32.5 31.6 33.9 10.0 26.9 25.7 38.2 28.8 32.8 14.8 25.4 11.1 15.3 25.7Weight 1.9% 1.9% 1.9% 1.8% 2.0% 1.9% 1.9% 1.7% 1.5% 1.7% 2.0% 2.2% 1.8% 2.2% 1.7% 1.6% 1.6% 1.5% 1.7% 1.6% 1.8% 2.2% 1.7% 1.6% 1.8%

Manager22 Long 87.1 77.2 83.6 84.4 83.2 81.5 87.2 85.8 86.0 79.4 87.6 85.3 85.9 88.6 83.5 87.6 85.2 83.6 77.1 79.0 88.1 78.2 77.0 88.2 83.8Short (54.6) (37.1) (58.5) (56.0) (44.5) (46.7) (59.6) (52.6) (46.1) (47.6) (49.3) (46.9) (39.0) (59.2) (52.0) (38.9) (47.6) (58.5) (41.1) (43.1) (47.6) (45.1) (53.6) (45.8) (48.8)Gross 141.7 114.3 142.1 140.5 127.8 128.2 146.7 138.4 132.0 127.0 137.0 132.2 124.9 147.8 135.4 126.5 132.8 142.1 118.2 122.1 135.8 123.3 130.6 134.0 132.5Net 32.5 40.0 25.0 28.4 38.7 34.9 27.6 33.2 39.9 31.8 38.3 38.4 46.9 29.4 31.5 48.6 37.6 25.0 36.0 35.9 40.5 33.1 23.4 42.4 35.0Weight 1.5% 1.2% 1.5% 1.7% 1.6% 1.6% 1.2% 1.9% 1.7% 1.3% 1.2% 1.4% 1.6% 1.1% 1.5% 1.6% 1.6% 1.2% 1.2% 1.6% 1.2% 1.2% 1.2% 1.6% 1.4%

Manager23 Long 58.4 65.1 66.9 64.2 57.3 59.6 61.1 62.6 68.8 59.6 61.3 65.8 62.9 58.8 68.6 60.3 68.9 61.3 61.1 65.4 58.5 66.8 65.4 65.3 63.1Short (54.1) (40.2) (58.0) (59.6) (45.5) (42.0) (52.5) (41.4) (40.7) (39.7) (60.9) (55.3) (44.0) (47.8) (38.9) (56.0) (55.6) (52.6) (42.4) (50.7) (51.2) (51.9) (50.7) (55.6) (49.5)Gross 112.5 105.2 124.9 123.7 102.8 101.6 113.6 104.0 109.5 99.2 122.2 121.1 106.9 106.5 107.6 116.3 124.5 113.9 103.4 116.1 109.7 118.8 116.1 120.9 112.5Net 4.3 24.9 9.0 4.6 11.9 17.6 8.6 21.3 28.1 19.9 0.3 10.6 19.0 11.0 29.7 4.4 13.4 8.8 18.7 14.7 7.3 14.9 14.7 9.7 13.6Weight 0.9% 1.1% 1.2% 0.8% 1.3% 1.3% 1.4% 0.8% 1.0% 1.4% 1.1% 1.0% 0.9% 1.4% 0.7% 1.5% 1.1% 1.0% 1.3% 1.4% 1.2% 1.1% 1.2% 0.9% 1.1%

Manager24 Long 109.6 104.9 108.2 101.5 106.6 101.7 100.4 102.1 105.3 101.1 101.5 109.9 97.6 100.4 98.6 104.0 108.3 102.2 100.6 105.5 105.0 107.3 105.3 99.4 103.6Short (54.1) (58.7) (57.3) (46.9) (42.6) (39.5) (44.3) (41.2) (58.0) (45.3) (49.3) (48.2) (43.7) (40.6) (40.9) (50.0) (48.3) (45.9) (59.7) (59.0) (46.5) (53.8) (61.8) (54.9) (49.6)Gross 163.7 163.7 165.6 148.4 149.3 141.3 144.8 143.2 163.4 146.4 150.7 158.1 141.3 141.0 139.4 154.0 156.5 148.1 160.3 164.6 151.5 161.1 167.2 154.3 153.2Net 55.6 46.2 50.9 54.6 64.0 62.2 56.1 60.9 47.3 55.8 52.2 61.7 54.0 59.8 57.7 54.0 60.0 56.3 40.9 46.5 58.4 53.5 43.5 44.6 54.0Weight 2.6% 2.3% 2.9% 2.8% 2.5% 2.6% 2.6% 2.7% 2.3% 2.7% 2.7% 2.7% 2.7% 2.7% 2.6% 2.3% 2.7% 2.6% 2.4% 2.7% 2.6% 3.0% 2.5% 2.3% 2.6%

Manager25 Long 72.7 70.1 76.1 78.6 78.1 67.6 69.4 75.6 74.5 71.2 71.9 67.7 72.5 73.8 74.4 77.9 75.9 72.8 68.1 68.3 76.3 77.8 76.4 78.2 73.6Short (56.2) (38.2) (56.0) (60.8) (61.4) (40.3) (55.1) (38.4) (39.5) (57.8) (49.9) (51.0) (47.6) (56.4) (53.8) (46.3) (40.9) (55.5) (46.9) (58.3) (55.0) (56.6) (53.2) (55.7) (51.3)Gross 128.9 108.3 132.1 139.4 139.5 107.9 124.5 114.0 114.0 129.0 121.8 118.7 120.0 130.2 128.2 124.3 116.8 128.2 115.0 126.6 131.2 134.4 129.6 133.9 124.8Net 16.5 31.9 20.1 17.8 16.8 27.4 14.3 37.2 35.0 13.4 22.1 16.7 24.9 17.4 20.5 31.6 35.1 17.3 21.1 10.1 21.3 21.1 23.2 22.6 22.3Weight 2.9% 2.8% 3.3% 3.4% 2.9% 3.3% 3.4% 2.7% 3.2% 3.3% 2.7% 3.3% 2.8% 3.2% 2.8% 3.0% 3.3% 3.1% 3.3% 3.1% 3.6% 3.5% 3.0% 2.9% 3.1%

Manager26 Long 75.2 80.9 77.9 73.5 76.1 69.1 81.8 79.5 79.3 81.4 86.8 85.5 74.2 84.5 76.7 80.4 87.7 85.9 82.5 78.3 71.1 69.7 73.5 75.1 78.6Short (59.9) (39.9) (47.4) (56.1) (59.1) (42.8) (44.0) (37.5) (43.8) (42.6) (52.3) (39.9) (44.7) (54.0) (41.2) (38.6) (44.7) (51.6) (51.1) (46.0) (38.2) (51.3) (47.7) (46.0) (46.7)Gross 135.0 120.8 125.3 129.6 135.2 111.9 125.8 117.0 123.1 123.9 139.1 125.4 118.9 138.5 117.9 119.0 132.5 137.5 133.6 124.3 109.3 121.0 121.2 121.1 125.3Net 15.3 41.0 30.4 17.4 16.9 26.2 37.8 42.0 35.4 38.8 34.5 45.5 29.6 30.6 35.5 41.8 43.0 34.3 31.4 32.3 32.9 18.3 25.8 29.1 31.9Weight 4.0% 4.2% 4.2% 4.4% 4.6% 3.9% 4.2% 3.9% 4.4% 4.4% 4.0% 4.1% 4.1% 3.7% 3.7% 4.3% 4.2% 3.9% 3.9% 4.2% 4.7% 4.5% 4.2% 4.0% 4.2%

Manager27 Long 77.2 71.8 70.5 68.1 77.0 73.1 71.6 71.3 67.2 76.9 76.5 67.6 76.1 70.3 73.3 78.6 77.6 73.2 73.6 76.1 71.2 67.2 76.6 77.9 73.3Short (43.3) (38.4) (37.8) (60.7) (39.3) (39.3) (45.9) (39.3) (37.8) (43.4) (58.8) (51.4) (41.0) (55.6) (42.6) (53.5) (59.9) (48.1) (61.6) (54.1) (55.7) (48.6) (53.0) (54.2) (48.5)Gross 120.5 110.2 108.2 128.8 116.3 112.4 117.5 110.7 105.0 120.3 135.3 118.9 117.2 125.9 115.9 132.1 137.6 121.2 135.1 130.1 126.9 115.9 129.7 132.1 121.8Net 33.9 33.4 32.7 7.3 37.7 33.8 25.7 32.0 29.3 33.5 17.7 16.2 35.1 14.7 30.7 25.1 17.7 25.1 12.0 22.0 15.4 18.6 23.6 23.8 24.9Weight 4.5% 5.0% 4.7% 4.9% 5.1% 5.4% 4.8% 5.0% 4.7% 4.7% 4.8% 4.8% 4.6% 4.5% 4.7% 4.5% 5.1% 5.1% 4.8% 4.5% 5.0% 5.0% 4.9% 4.7% 4.8%

Manager28 Long 125.8 117.2 123.6 134.1 133.6 133.2 126.8 125.1 118.4 118.0 127.1 137.7 134.0 138.1 130.9 134.5 120.7 127.5 119.9 124.3 123.8 124.2 134.1 127.4 127.5Short (52.1) (54.9) (50.6) (43.9) (42.8) (50.2) (44.5) (44.7) (51.5) (37.4) (60.5) (37.1) (50.5) (55.4) (37.3) (47.9) (56.7) (49.7) (44.6) (47.8) (56.0) (39.0) (41.3) (43.6) (47.5)Gross 177.9 172.1 174.2 177.9 176.4 183.4 171.3 169.8 169.9 155.3 187.6 174.8 184.5 193.5 168.2 182.5 177.4 177.2 164.4 172.1 179.8 163.2 175.4 171.0 175.0Net 73.8 62.4 73.0 90.2 90.8 83.0 82.3 80.4 66.9 80.6 66.7 100.6 83.5 82.7 93.6 86.6 64.0 77.8 75.3 76.5 67.8 85.2 92.8 83.8 80.0Weight 7.0% 7.1% 6.4% 6.4% 7.4% 6.4% 6.2% 7.3% 6.1% 6.5% 6.5% 6.2% 6.8% 7.2% 7.2% 6.9% 6.9% 6.6% 7.0% 6.4% 7.2% 6.6% 7.2% 6.2% 6.7%

Cash&Other Long Short Gross Net Weight 3.1% 3.9% 3.0% 4.3% 2.0% 3.4% 4.5% 2.4% 6.6% 3.8% 6.4% 2.4% 5.5% 5.6% 5.3% 4.3% 3.8% 4.6% 6.2% 6.1% 2.7% 1.9% 6.0% 2.7% 4.2%

FundsValue($000) Percent Cumul. Long Short Gross Net Gross Net Fund Strat Firm Owned MTD 3M TTM MTD 3M TTM Gross Net

SAManager1 19,500 13.0% 13.0% 377 (348) 725 29 22.6% 10.7% N/A N/A N/A N/A 2.2% (0.0%) (2.1%) 0.3% (0.0%) (0.3%)SAManager2 3,000 2.0% 15.0% 50 (50) 100 0 0.5% 0.0% N/A N/A N/A N/A 0.7% 4.6% 4.9% 0.0% 0.1% 0.1%SAManager3 0 0.0% 15.0% 50 (50) 100 0 0.0% 0.0% N/A N/A N/A N/A (1.5%) (3.6%) (2.1%) 0.0% 0.0% 0.0%SAManager4 7,500 5.0% 20.0% 50 (50) 100 0 1.2% 0.0% N/A N/A N/A N/A 3.8% 6.4% 14.0% 0.2% 0.3% 0.7%SAManager5 6,000 4.0% 24.0% 82 (103) 185 (21) 1.8% (2.4%) 199 2,248 2,248 3.0% (1.2%) (3.2%) 12.3% (0.0%) (0.1%) 0.5%SAManager6 13,500 9.0% 33.0% 50 (50) 100 0 2.2% 0.0% N/A N/A N/A N/A 3.0% (0.3%) (5.6%) 0.3% (0.0%) (0.5%)SAManager7 3,000 2.0% 35.0% 317 (299) 616 17 2.9% 1.0% 3,493 11,454 N/A 0.1% 3.6% 8.8% (1.0%) 0.1% 0.2% (0.0%)SAManager8 18,000 12.0% 47.0% 880 (795) 1675 86 48.1% 29.5% 1,288 5,370 N/A 1.4% (0.9%) (2.0%) 22.7% (0.1%) (0.2%) 2.7%SAManager9 4,500 3.0% 50.0% 151 (195) 347 (44) 2.5% (3.8%) 2,345 3,193 N/A 0.2% (3.2%) 1.5% 14.3% (0.1%) 0.0% 0.4%SAManager10 10,500 7.0% 57.0% 50 (50) 100 0 1.7% 0.0% N/A N/A N/A N/A (4.2%) 5.8% 17.6% (0.3%) 0.4% 1.2%SAManager11 16,500 11.0% 68.0% 89 (21) 110 68 2.9% 21.5% 5,600 5,600 19,500 0.3% (2.5%) 6.3% 18.3% (0.3%) 0.7% 2.0%SAManager12 6,000 4.0% 72.0% 89 (40) 129 50 1.2% 5.7% N/A N/A N/A N/A 3.4% 1.0% 6.8% 0.1% 0.0% 0.3%SAManager13 9,000 6.0% 78.0% 102 (83) 185 19 2.7% 3.3% 859 1,205 N/A 1.0% (1.9%) 3.8% 16.3% (0.1%) 0.2% 1.0%SAManager14 0 0.0% 78.0% 50 (50) 100 0 0.0% 0.0% N/A N/A N/A N/A (2.3%) 8.2% 13.1% 0.0% 0.0% 0.0%SAManager15 1,500 1.0% 79.0% 50 (50) 100 0 0.2% 0.0% N/A N/A N/A N/A 1.2% 6.3% 3.6% 0.0% 0.1% 0.0%SAManager16 0 0.0% 79.0% 50 (50) 100 0 0.0% 0.0% N/A N/A N/A N/A (4.7%) (3.8%) (4.8%) 0.0% 0.0% 0.0%SAManager17 12,000 8.0% 87.0% 127 (87) 214 40 4.1% 9.1% 19,179 19,179 33,666 0.1% 2.9% 0.4% 5.5% 0.2% 0.0% 0.4%SAManager18 3,000 2.0% 89.0% 153 (26) 179 128 0.9% 7.3% 2,161 2,161 33,666 0.1% (3.2%) 7.5% 21.3% (0.1%) 0.2% 0.4%SAManager19 9,000 6.0% 95.0% 85 (24) 109 61 1.6% 10.5% 1,350 1,350 N/A 0.7% 3.3% 0.1% 11.6% 0.2% 0.0% 0.7%SAManager20 1,500 1.0% 96.0% 105 (12) 117 93 0.3% 2.7% 1,184 3,639 3,639 0.1% 1.8% 1.2% 2.3% 0.0% 0.0% 0.0%SAManager21 1,500 1.0% 97.0% 198 (142) 340 56 0.8% 1.6% N/A N/A N/A N/A 0.7% (4.4%) 17.4% 0.0% (0.0%) 0.2%SAManager22 1,500 1.0% 98.0% 234 (138) 373 96 0.9% 2.7% 558 558 N/A 0.3% 2.0% 8.5% 6.0% 0.0% 0.1% 0.1%SAManager23 1,500 1.0% 99.0% 176 (160) 335 16 0.8% 0.5% 34 410 N/A 4.4% (2.2%) 7.8% 15.6% (0.0%) 0.1% 0.2%SAManager24 1,500 1.0% 100.0% 50 (50) 100 0 0.2% 0.0% N/A N/A N/A N/A (2.9%) 0.2% 6.5% (0.0%) 0.0% 0.1%

CashPortfolio 226.3 (191.4) 417.6 34.9 100.0% 100.0% 3,188 4,697 18,544 1.0%

AttributionAllocation Exposure %ofPortfolio Assets($MM) Performance Exposure

725100100100185

100616

1,675347

100110129185

100100100214179109117

340373335

100

29

21

1786

44

6850

19

40128

6193

5696

16

FrequencybyStrategy GrossExposurebyStrategy NetExposurebyStrategySE EquityLongShort 14 5.1% 0.7% 5.4% 4.7%SEMarketNeutral 0 #####SE ShortBias 0 #####SE LongBias/EqLongOnly 0 #####SE EquityOther 0 #####SEMergerArbitrage 4 2.8% 16.2% 1.6% 3.9%SE ActivistSituations 0 #####SE SpecialSituations 2 0.6% 1.6% 0.5% 0.7%SEDistressed/HighYield 4 1.1% 13.2% 0.0% 2.0%SE EventOther 6 6.3% 12.5% 5.7% 6.8%SRConvertibleArbitrage 2 0.2% 0.1% 0.2% 0.2%SRFixedIncomeArbitrage 1 3.8% 8.2% 3.4% 4.1%SRMBS/ABSArbitrage 0 #####SRVolatilityArbitrage 1 16.1% 2.7% ##### 14.6%SRStatisticalArbitrage 0 #####SRIndexArbitrage 1 0.0% 0.1% 0.0% 0.0%SRRelValArb(Multistrat) 3 10.3% 7.5% ##### 10.1%SCCreditLongShort 10 4.5% 5.4% 4.4% 4.6%SCStructuredCredit 7 6.7% 2.4% 7.5% 6.0%SCCapitalStructureArb 3 0.1% 0.0% 0.1% 0.1%SCLoans 3 4.8% 2.4% 5.1% 4.6%SCHighYield 1 0.0% 0.1% 0.0% 0.0%SCAssetBackedLending 0 #####SCFixedIncomeMultistrat 0 #####SRRealEstate 2 0.7% 5.8% 0.2% 1.1%ST CTA 5 0.4% 0.0% 0.4% 0.4%ST ShortTermSystematic 0 #####ST Currency 1 0.2% 0.5% 0.2% 0.2%ST Directional 0 #####SPPrivateSecurities 5 2.3% 11.8% 1.4% 3.0%SGGlobalMacro 7 24.7% 11.8% ##### 23.7%SMMultistrategyDiversified 0 #####SOOther 6 9.3% 8.1% 9.5% 9.3%

0 #N/A #N/A #N/A #N/A0 #N/A #N/A #N/A #N/A

ExposurebyStrategy 0 #N/A #N/A #N/A #N/A0 #N/A #N/A #N/A #N/A

LongandShortExposurebyStrategy14

4

24

62

1

1

13

107

33

1

25

1

57

6

5.05%

2.84%

0.62%1.10%

6.29%0.17%

3.78%

16.05%

0.03%10.31%

4.51%6.66%

0.06%4.84%

0.01%

0.66%0.39%

0.22%

2.28%24.71%

9.35%

5.45%

1.62%

0.52%0.00%

5.72%0.17%

3.37%

17.76%

0.02%10.56%

4.43%7.49%

0.07%5.06%

0.19%0.42%

0.19%

1.41%25.88%

9.46%

4.72%

3.87%

0.70%2.03%

6.77%0.16%

4.12%

14.61%

0.04%10.09%

4.58%5.96%

0.05%4.65%

0.01%

1.06%0.37%

0.24%

3.01%23.71%

9.25%

0.72%

16.21%

1.65%13.17%12.51%

0.12%8.24%

2.66%

0.15%7.54%

5.39%2.44%

0.02%2.41%

0.08%

5.82%0.04%

0.49%

11.77%11.82%

8.07%

30.0%

20.0%

10.0%

0.0%

10.0%

20.0%

30.0%

STRATEGYLong Short Gross Net Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G

Manager1 377 (348) 725 29 24 (17) 41 8 24 (17) 41 8Manager2 50 (50) 100 0Manager3 50 (50) 100 0 50 (50) 100 0 50 (50) 100 0Manager4 50 (50) 100 0Manager5 82 (103) 185 (21) 61 (72) 133 (10) 61 (72) 133 (10)Manager6 50 (50) 100 0Manager7 317 (299) 616 17 55 (52) 108 3 55 (52) 108 3Manager8 880 (795) 1675 86Manager9 151 (195) 347 (44) 10 (12) 22 (3) 10 (12) 22 (3)Manager10 50 (50) 100 0 12 (12) 24 0 12 (12) 24 0Manager11 89 (21) 110 68Manager12 89 (40) 129 50 15 (37) 52 (21) 15 (37) 52 (21)Manager13 102 (83) 185 19 11 (8) 19 4 11 (8) 19 4Manager14 50 (50) 100 0Manager15 50 (50) 100 0 50 (50) 100 0 50 (50) 100 0Manager16 50 (50) 100 0 50 (50) 100 0 50 (50) 100 0Manager17 127 (87) 214 40Manager18 153 (26) 179 128Manager19 85 (24) 109 61Manager20 105 (12) 117 93 9 (0) 10 9 9 (0) 10 9Manager21 198 (142) 340 56 41 (36) 77 5 41 (36) 77 5Manager22 234 (138) 373 96 48 (33) 81 15 48 (33) 81 15Manager23 176 (160) 335 16 7 (3) 9 4 7 (3) 9 4Manager24 50 (50) 100 0

CashPortfolio 100% 100% 100% 100% 5% 5% 5% 1% 5% 5% 5% 1%

StrategyExposure EquityLongShortLONG/SHORTEQUITY

MarketNeutral ShortBias LongBias/EquityLongOnly EquityOther TOTALL/SEQUITY

STRATEGYLong Short Gross Net Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G

Manager1 377 (348) 725 29Manager2 50 (50) 100 0 50 (50) 100 0 50 (50) 100 0Manager3 50 (50) 100 0Manager4 50 (50) 100 0 50 (50) 100 0 50 (50) 100 0Manager5 82 (103) 185 (21)Manager6 50 (50) 100 0 50 (50) 100 0 50 (50) 100 0Manager7 317 (299) 616 17Manager8 880 (795) 1675 86Manager9 151 (195) 347 (44)Manager10 50 (50) 100 0Manager11 89 (21) 110 68 5 (1) 6 4 0 0 0 0 5 (1) 6 4Manager12 89 (40) 129 50 58 (0) 58 58 58 (0) 58 58Manager13 102 (83) 185 19 10 0 10 10 82 (57) 139 24 91 (57) 149 34Manager14 50 (50) 100 0 50 (50) 100 0 50 (50) 100 0Manager15 50 (50) 100 0Manager16 50 (50) 100 0Manager17 127 (87) 214 40 103 (37) 140 66 25 0 25 25 127 (37) 164 90Manager18 153 (26) 179 128 153 (26) 179 128 153 (26) 179 128Manager19 85 (24) 109 61 0 0 0 0 5 0 5 5 6 0 6 6 11 0 11 11Manager20 105 (12) 117 93 0 0 0 0 0 0 0 0Manager21 198 (142) 340 56Manager22 234 (138) 373 96Manager23 176 (160) 335 16Manager24 50 (50) 100 0

CashPortfolio 100% 100% 100% 100% 4% 2% 3% 16% 1% 1% 1% 2% 2% 0% 1% 13% 7% 6% 6% 13% 13% 8% 11% 44%

Distressed/HighYield EventOther TOTALEVENTEVENTDRIVEN

StrategyExposure MergerArbitrage ActivistSituations SpecialSituations

STRATEGYLong Short Gross Net Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G

Manager1 377 (348) 725 29 3 (3) 5 0 72 (50) 121 22 254 (261) 516 (7) 1 (0) 1 0Manager2 50 (50) 100 0Manager3 50 (50) 100 0Manager4 50 (50) 100 0Manager5 82 (103) 185 (21)Manager6 50 (50) 100 0Manager7 317 (299) 616 17Manager8 880 (795) 1675 86Manager9 151 (195) 347 (44)Manager10 50 (50) 100 0Manager11 89 (21) 110 68Manager12 89 (40) 129 50Manager13 102 (83) 185 19Manager14 50 (50) 100 0Manager15 50 (50) 100 0Manager16 50 (50) 100 0Manager17 127 (87) 214 40Manager18 153 (26) 179 128Manager19 85 (24) 109 61Manager20 105 (12) 117 93 0 0 0 0Manager21 198 (142) 340 56Manager22 234 (138) 373 96Manager23 176 (160) 335 16Manager24 50 (50) 100 0

CashPortfolio 100% 100% 100% 100% 0% 0% 0% 0% 4% 3% 4% 8% 15% 18% 16% 3% 0% 0% 0% 0%

FixedIncomeArbitrage MBS/ABSArbitrage VolatilityArbitrage StatisticalArbitrage IndexArbitrageRELATIVEVALUE

StrategyExposure ConvertibleArbitrage

STRATEGYLong Short Gross Net Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G

Manager1 377 (348) 725 29 4 0 4 4 333 (314) 647 19 2 (1) 3 2Manager2 50 (50) 100 0Manager3 50 (50) 100 0Manager4 50 (50) 100 0Manager5 82 (103) 185 (21) 15 (31) 46 (17)Manager6 50 (50) 100 0Manager7 317 (299) 616 17 35 (33) 68 2 35 (33) 68 2 38 (36) 74 2Manager8 880 (795) 1675 86 180 (163) 343 18 180 (163) 343 18 79 (72) 151 8Manager9 151 (195) 347 (44) 109 (126) 235 (17)Manager10 50 (50) 100 0 13 (13) 26 0Manager11 89 (21) 110 68 33 (5) 38 28Manager12 89 (40) 129 50 14 0 14 14 2 (3) 6 (1)Manager13 102 (83) 185 19 0 (18) 18 (18)Manager14 50 (50) 100 0Manager15 50 (50) 100 0Manager16 50 (50) 100 0Manager17 127 (87) 214 40 0 (50) 50 (50)Manager18 153 (26) 179 128Manager19 85 (24) 109 61 2 0 2 2 0 0 0 0 0 0 0 0Manager20 105 (12) 117 93 0 0 0 0 86 (1) 87 85 5 0 5 5 1 (0) 1 1Manager21 198 (142) 340 56 92 (65) 157 27Manager22 234 (138) 373 96 131 (64) 195 67Manager23 176 (160) 335 16 104 (52) 157 52Manager24 50 (50) 100 0

CashPortfolio 100% 100% 100% 100% 10% 11% 10% 8% 29% 32% 30% 13% 5% 4% 5% 5% 6% 7% 7% 2% 0% 0% 0% 0%

StructuredCredit CapitalStructureArbitrageCREDITRELATIVEVALUEcont'd

StrategyExposure RelValArbitrage(Multistrategy) TOTALRELATIVEVALUE CreditLongShort

STRATEGYLong Short Gross Net Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G

Manager1 377 (348) 725 29 2 (1) 3 2Manager2 50 (50) 100 0Manager3 50 (50) 100 0Manager4 50 (50) 100 0Manager5 82 (103) 185 (21) 15 (31) 46 (17)Manager6 50 (50) 100 0Manager7 317 (299) 616 17 16 (15) 31 1 54 (51) 105 3Manager8 880 (795) 1675 86 70 (64) 134 7 150 (135) 285 15Manager9 151 (195) 347 (44) 109 (126) 235 (17)Manager10 50 (50) 100 0 25 (25) 50 0 38 (38) 76 0Manager11 89 (21) 110 68 33 (5) 38 28Manager12 89 (40) 129 50 16 (3) 20 13Manager13 102 (83) 185 19 0 (18) 18 (18)Manager14 50 (50) 100 0Manager15 50 (50) 100 0Manager16 50 (50) 100 0Manager17 127 (87) 214 40 0 (50) 50 (50)Manager18 153 (26) 179 128Manager19 85 (24) 109 61 0 0 0 0 3 0 3 3Manager20 105 (12) 117 93 92 (1) 93 91Manager21 198 (142) 340 56 92 (65) 157 27Manager22 234 (138) 373 96 131 (64) 195 67Manager23 176 (160) 335 16 104 (52) 157 52Manager24 50 (50) 100 0

CashPortfolio 100% 100% 100% 100% 5% 5% 5% 2% 0% 0% 0% 0% 15% 17% 16% 5%

Distressed/HighYield AssetBasedLending FixedIncomeMultistrategy TOTALCREDITCREDITcont'd

StrategyExposure Loans

STRATEGYLong Short Gross Net Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G

Manager1 377 (348) 725 29 1 0 1 1 1 0 1 1Manager2 50 (50) 100 0Manager3 50 (50) 100 0Manager4 50 (50) 100 0Manager5 82 (103) 185 (21)Manager6 50 (50) 100 0Manager7 317 (299) 616 17Manager8 880 (795) 1675 86Manager9 151 (195) 347 (44) 16 (14) 30 2 16 (14) 30 2Manager10 50 (50) 100 0Manager11 89 (21) 110 68Manager12 89 (40) 129 50Manager13 102 (83) 185 19Manager14 50 (50) 100 0Manager15 50 (50) 100 0Manager16 50 (50) 100 0Manager17 127 (87) 214 40Manager18 153 (26) 179 128Manager19 85 (24) 109 61Manager20 105 (12) 117 93Manager21 198 (142) 340 56 11 (4) 15 7 54 (37) 91 17 65 (41) 106 24Manager22 234 (138) 373 96 5 (8) 13 (3) 5 (8) 13 (3)Manager23 176 (160) 335 16 6 (28) 33 (22) 6 (28) 33 (22)Manager24 50 (50) 100 0

CashPortfolio 100% 100% 100% 100% 0% 0% 0% 0% 0% 0% 0% 0% 1% 1% 1% 1%

Systematic/TrendFollowing Currency Directional TOTALCTACTA

StrategyExposure ManagedFutures

STRATEGYLong Short Gross Net Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G Long Short Gross Net %G

Manager1 377 (348) 725 29 16 (14) 30 2Manager2 50 (50) 100 0Manager3 50 (50) 100 0Manager4 50 (50) 100 0Manager5 82 (103) 185 (21) 6 0 6 6Manager6 50 (50) 100 0Manager7 317 (299) 616 17 19 (18) 37 1 78 (73) 151 4 16 (15) 31 1 60 (57) 117 3Manager8 880 (795) 1675 86 427 (385) 812 42 123 (111) 234 12Manager9 151 (195) 347 (44) 17 (43) 59 (26)Manager10 50 (50) 100 0Manager11 89 (21) 110 68 18 0 18 18 25 (11) 36 14 8 (3) 11 5Manager12 89 (40) 129 50Manager13 102 (83) 185 19Manager14 50 (50) 100 0Manager15 50 (50) 100 0Manager16 50 (50) 100 0Manager17 127 (87) 214 40Manager18 153 (26) 179 128Manager19 85 (24) 109 61 38 0 38 38 33 (24) 56 9Manager20 105 (12) 117 93 0 0 0 0 0 (10) 10 (9) 3 (1) 4 2Manager21 198 (142) 340 56Manager22 234 (138) 373 96 50 (34) 85 16Manager23 176 (160) 335 16 59 (77) 136 (17)Manager24 50 (50) 100 0 50 (50) 100 0

CashPortfolio 100% 100% 100% 100% 1% 0% 1% 6% 3% 1% 2% 12% 24% 26% 25% 12% 9% 9% 9% 8%

PrivateSecurities GlobalMacro MultistrategyDiversified OtherStrategiesILLIQUID GLOBALMACRO MULTISTRATDIVERSIFIED OTHERREALESTATE

StrategyExposure RealEstate