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					             Hedge Weekly N°48
       Investment Funds Performance Review



          HSBC Alternative Investment Group

Week of Monday 25 Nov to Friday 29 Nov 2013
    Index by Strategies                                                                   3
    Index by Funds                                                                        4
    Top/Bottom 20                                                                         9
    Newsletter                                                                            12
    About This Document                                                                   53




Past performance is not a reliable indicator of future performance.   HSBC Alternative Investment Group   |   2
                                                                           Commodity                                  36
    Convertible Arbitrage
                                                                           Commodity-Systematic                       36
    Convertible                                                       12   Currency                                   36
    Credit Long/Short                                                      Diversified                                37
    Credit                                                            13   Fixed Income                               40
                                                                           Systematic                                 40
    Distressed
                                                                           Managed Futures
    Distressed Security                                               17
                                                                           Commodity                                  41
    Equity Long/Short                                                      Currency                                   41
    Equity-Commodity                                                  19   Systematic                                 43
    Equity-Diversified                                                20   Market Neutral
    Equity-Energy                                                     26
    Equity-Financial                                                  27   Discretionary                              44
    Equity-Healthcare                                                 27   Equity Diversified                         45
    Equity-Mid-Small Cap                                              27   Multi-Strategy                             45
    Equity-Pharma-Biotech                                             28   Statistical Arbitrage                      46
    Equity-Real Estate                                                28   Systematic                                 46
    Equity-Technology                                                 28   Merger Arbitrage
    Equity-Utility                                                    29   Merger-Arbitrage                           47
    Event Driven                                                           Multi-Strategy
    Equity-Diversified                                                30   Credit                                     48
    Multi-Strategy                                                    30   Diversified                                48
    Fixed Income Arbitrage                                                 Volatility Arbitrage
    Fixed Income                                                      32   Arbitrage                                  52
    Fund of Funds
    Arbitrage                                                         33
    Event Driven                                                      33
    Long/Short                                                        33
    Macro                                                             33
    Multi-Strategy                                                    34
    Trading                                                           34
    Long Only
    Equity-Diversified                                                35
    Macro

Past performance is not a reliable indicator of future performance.                                HSBC Alternative Investment Group   |   3
Source - HSBC
                                                         AMAZON MARKET NEUTRAL FUND CLA   44   BLACKROCK FIXED INCOME GLOBAL    32
 4                                                       ANAVON MASTER FUND LTD CLASS -   23   BLACKROCK OBSIDIAN FUND          32     C
                                                         ANDURAND COMMODITIES FUND        36   BLACKROCK UK EQUITY HEDGE FUND   25
 400 CAPITAL CREDIT OPPORTUNITI                 16                                                                                     CAIRN CREDIT FOCUS FUND LTD       13
                                                         ANTARES EUROPEAN FUND, LTD - U   21   BLUEBAY CREDIT ALPHA LONG SHOR   14
                                                                                                                                       CAIRN SPECIAL OPPORTUNITIES CR    13
                                                         AQUILUS INFLECTION FUND LTD E    21   BLUEBAY EMERGING MARKET FIXED    13
 A                                                                                                                                     CAIRN SUBORDINATED FINANCIALS     13
                                                         ARCUS JAPAN FUND -JPY-           24   BLUECREST CAPL INTL LTD A USD    49
                                                                                                                                       CAMPBELL GLOBAL ASSETS FUND LT    41
 A.R.T. INTERNATIONAL INVESTOR                  45       ARISTEIA INTERNATIONAL LTD       14   BLUECREST EMERGING MARKETS FUN   37
                                                                                                                                       CAMPBELL GLOBAL ASSETS FUND LT    41
 ABSOLUTE INSIGHT CREDIT FUND B                 13       ARMAJARO COMMODITIES FUND CLAS   36   BLUECREST MULTI STRATEGY CREDI   14
                                                                                                                                       CAMPBELL GLOBAL ASSETS FUND LT    46
 ABSOLUTE INSIGHT EMERGING MARK                 13       ARMAJARO EMERGING MARKETS FUND 20     BLUEMATRIX FUND CLASS -A- USD    45
                                                                                                                                       CANDLEWOOD SPECIAL SITUATIONS     17
 ABSOLUTE INSIGHT UK EQUITY MKT                 44       ARMAJARO STS COMMODITIES FUND    36   BLUEMOUNTAIN CREDIT ALTERNATIV   14
                                                                                                                                       CANDLEWOOD STRUCTURED CREDIT F    14
 ACUITY CORPORATE OPPORTUNITY F                 16       ARROWGRASS MASTER FUND           48   BLUEMOUNTAIN EQUITY ALTERNATIV   52
                                                                                                                                       CANDLEWOOD STRUCTURED CREDIT H 14
 ADELPHI EMERGING EUROPE. FUND                  20       ASCEND PARTNERS FUND II LTD -    25   BLUEMOUNTAIN LONG SHORT CREDIT   14
                                                                                                                                       CANYON BALANCED FUND LTD - CLA    48
 ADELPHI EUR. FUND $ (A)                        21       ASGARD FIXED INCOME FUND LTD     14   BLUETREND FUND, LTD - CLASS A    41
                                                                                                                                       CANYON VALUE REALIZATION FD, L    17
 ADRIGO HEDGE                                   21       ASPECT DIVERSIFIED FUND - CLAS   41   BNY MELLON ARX BRAZIL FUND SPC   20
                                                                                                                                       CAPEVIEW AZRI 2X FUND             21
 AETOS CORPORATION - CLASS A                    47       AVIVA INVESTOR FIXED INCOME MA   40   BORONIA DIVERSIFIED FUND MASTE   41
                                                                                                                                       CAPEVIEW AZRI FUND                21
 AG MORTGAGE VALUE PARTNERS LTD                 14       AXONIC CREDIT OPPORTUNITIES OV   14   BOUSSARD & GAVAUDAN HOLDING.,    49
                                                                                                                                       CAPITAL FUND, LTD (THE)           38
 AG SUPER FUND INTERNATIONAL, L                 30                                             BREVAN HOWARD ASIA FUND LIMITE   37
                                                                                                                                       CAPULA GLOBAL RELATIVE VALUE F    32
 AHL DIMENSION USD SHARES CLASS                 48       B                                     BREVAN HOWARD COMMODITIES STRA   36
                                                                                                                                       CASSIOPEIA FUND CLASS C           52
 AHL DIVERSIFIED                                41                                             BREVAN HOWARD CREDIT CATALYSTS   14
                                                         BAF LATAM TRADE FINANCE FUND     13                                           CASTLEROCK FUND LTD               25
 AHL EVOLUTION USD                              41                                             BREVAN HOWARD CREDIT VALUE FU    14
                                                         BASSO INVESTORS LTD              12                                           CAXTON GLOBAL INVESTMENT LTD      38
 AJIA-LIGHTHORSE CHINA GROWTH F                 19                                             BREVAN HOWARD EM. MKT STRATEGI   37
                                                         BAY RESOURCES PARTNERS OFFSHOR 25                                             CAZENOVE EURO EQ ABS RETURN FU    21
 AJR INTERNATIONAL (BVI), INC.                  25                                             BREVAN HOWARD FUND, LTD - USD    38
                                                         BCM WESTON LP                    25                                           CAZENOVE UK ABSOLUTE TARGET FU    44
 AKAMATSU FUND                                  24                                             BREVAN HOWARD INVEST. FUND - E   40
                                                         BEACH HORIZON FUND LTD           41                                           CC ASIA ABSOLUTE RETURN FUND      19
 ALLBLUE LIMITED                                48                                             BREVAN HOWARD M/S FUND, LTD –    49
                                                         BEACH POINT TOTAL RETURN OFFSH   18                                           CCI HEALTHCARE PARTNERS LTD       27
 ALLIANCE BERNSTEIN SELECT US E                 25                                             BRIGADE LEVERAGED CAPITAL STRU   16
                                                         BEACONLIGHT OFFSHORE FUND LTD    23                                           CCP QUANTITATIVE FUND US$ ARIS    41
 ALPHA4X CAPITAL GROWTH FUND                    37                                             BROOKFIELD GLOBAL LISTED INFRA   23
                                                         BLACK DIAMOND RELATIVE VALUE L   44                                           CERBERUS INTL. LTD CLASS A A/     17
 ALPHADYNE INVESTMENT STRATEGIE                 37                                             BROOKFIELD GLOBAL REITS LONG S   28
                                                         BLACK DIAMOND, LTD - CLASS B (   48                                           CHENAVARI CORPORATE CREDIT STR    14
 ALPHAGEN HOKUTO FUND LTD - CLA                 24                                             BRUMMER MULTISTRATEGY 2XL, LTD   49
                                                         BLACKROCK EOS CLASS B USD COM    46                                           CHENAVARI MULTI STRATEGY CREDI    48
 ALPHAGEN OCTANIS CLASS A                       25                                             BRYN MAWR OFFSHORE LTD           46
                                                         BLACKROCK MULTI-STRATEGY FUND    49                                           CHENAVARI REGULATORY CAPITAL S    13
 ALPHAGEN VOLANTIS FUND, LTD -                  27                                             BTG PACTUAL DISTRESSED MORTGAG   18
                                                         BLACKROCK 32 CAPITAL MASTER FU   46                                           CHENAVARI TORO CAPITAL I A        13
 ALYDAR FUND LTD                                25                                             BTG PACTUAL GLOBAL EM. MKTS AN   38
                                                         BLACKROCK CAPITAL STRUCTURE IN   49                                           CHILTON CHINA OPPORTUNITIES FU    19
 ALYSHEBA FUND LIMITED                          25                                             BTG PACTUAL GLOBAL EQUITY OPPO   49
                                                         BLACKROCK EUROPEAN DIVERSIFIED   45                                           COBALT OFFSHORE LTD               25

Past performance is not a reliable indicator of future performance.                                                                  HSBC Alternative Investment Group    |   4
Source - HSBC
 COHERENCE CAPITAL SPECTRUM FUN                 15                                             FORT GLOBAL DIVERSIFIED          42
 COMAC GLOBAL MACRO FUND                        38       E                                     FORTRESS ASIA MACRO FUND         37     H
 COMMONWEALTH OPPORTUNITY CAYMA 38                                                             FORTRESS MACRO FUND LTD. CLAS    38
                                                         EAGLE GLOBAL FUND                42                                           HABROK LTD                        21
 CONQUEST MACRO FUND, LTD (COMP                 41
                                                         EAGLE QUANTITATIVE MACRO FUND    40                                           HALCYON OFF. ASSET-BACKED VALU    18
 CONTRARIAN CAPITAL FUND I OFFS                 17                                             G
                                                         ECLECTICA FUND (THE) CLASS A E   38                                           HALCYON PARTNERS OFFSHORE FUND 49
 CONTRARIAN EMERGING MARKETS OF                 48
                                                         EDGESTREAM NIAS FUND             42   GABELLI ASSOCIATES LIMITED - C   47     HARBOUR HOLDINGS LTD              28
 CQS ABS FEEDER FUND - CLASS -B                 15
                                                         EGERTON EUROPEAN DOLLAR CLASS    23   GAM DIVERSITY I INC - US$ CLAS   34     HARMONIC ALPHA PLUS MACRO FUN     39
 CQS ASIA FEEDER FUND LTD- CLAS                 12
                                                         EGERTON EUROPEAN EQUITY FUND L   21   GAM DIVERSITY II INC - US$ CLA   34     HENDERSON JAPAN ABS RETURN FD,    24
 CQS CONV & QUANT STRATS FEED F                 12
                                                         EIFFEL CREDIT OPPORTUNITIES FU   13   GAM GLOBAL RATES HEDGE FUND      38     HIGHBRIDGE CAPITAL CORPORATION    49
 CQS CREDIT LONG SHORT FEEDER F                 15
                                                         ELEMENT CAPITAL FUND             38   GAM TALENTUM ENHANCED EUROPE L   45     HIGHBRIDGE LONG/SHORT EQUITY F    25
 CQS DIRECTIONAL OPP. FEEDER FU                 49
                                                         ELLINGTON CREDIT OPPORTUNITIES   15   GAM TRADING II USD               34     HIGHBRIDGE QUANTITATIVE COMMOD    42
 CQS DIVERSIFIED FUND (SPC) LTD                 49
                                                         ELLINGTON MORTGAGE OPPORTUNITI   15   GAMUT INVESTMENTS                38     HIGHBRIDGE QUANTITATIVE COMMOD    42
 CRABEL FUND SPC LTD CLASS A                    42
                                                         ELM RIDGE CAPITAL PARTNERS L.P   25   GAVEA FUND LTD . CLASS A S/1     37     HIGHBRIDGE STATISTICAL OPP. LT    46
 CUMULUS ENERGY FUND CLASS A US                 41
                                                         EMF FIXED INCOME FUND, LTD       32   GEMS PROGR. FUND SICAV RECOVER   33     HORSEMAN GLOBAL FUND USD          23
 CYGNUS UTILITIES, INFRASTRUCTU                 29
                                                         EMINENCE FUND LTD A INITIAL S    25   GLADE BROOK GLOBAL OFFSHORE FU   23     HSBC ASIAN ADVANTEDGE FUND        33
                                                         ENNISMORE EUROPEAN SMALLER COM 27     GLENVIEW CAPITAL PARTNERS (CAY   25     HSBC CREDIT MARKET OPPORTUNITI    33
 D
                                                         EPISODE INC. CLASS A             38   GLG EUROPEAN EQUITY ALTERNATIV   45     HSBC GH FUND USD                  34
 DAVIDSON KEMPNER DIST. OPP. IN                 17       EQUILIBRIA JAPAN FUND LTD 1X U   44   GLG EUROPEAN LONG SHORT FUND C   21     HSBC HEDGE INVESTMENTS FUND       34
 DAVIDSON KEMPNER INTL, LTD - C                 30       EQUILIBRIA JAPAN FUND LTD 2X (   44   GLG MARKET NEUTRAL FUND - CLAS   49     HSBC LEVERAGED GH FUND            34
 DB PLATINUM IV DBX SYSTEMATIC                  42       EVEREST CAPITAL ASIA             19   GRAHAM ABSOLUTE RETURN TRADING   38     HSBC MAA FUND USD                 33
 DB PLATINUM V HERMES A.R. COMM                 36       EVEREST CAPITAL FRONTIER MARKE   20   GRAHAM GIF II PROPRIETARY MATR   42     HSBC NEXT GENERATION FUND NNI     34
 DIAMOND CAPITAL MANAGEMENT                     34       EXANE ARCHIMEDES FUND CLASS A    28   GRAHAM GLOBAL INVESTMENT FUND    38     HSBC SPECIAL OPPORTUNITIES FUN    33
 DISCOVERY GLOBAL MACRO FUND LT                 38       EXANE MICROMEGAS FUND LTD- CLA   44   GRAHAM GLOBAL INVESTMENT FUND    42     HSBC TRADING ADVANTEDGE FUND      34
 DISCOVERY GLOBAL OPPORTUNITY F                 38       EXANE TEMPLIERS FUND             23   GRAHAM GLOBAL INVESTMENT FUND    42     HSBC UCITS ADVANTEDGE FUND -US    34
 DISCUS FEEDER LTD CL. B USD ST                 42                                             GRAHAM GLOBAL INVESTMENT FUND-   39     HT ASIAN CATALYST FUND LLC        19
 DORSET ENERGY FUND, LTD - CLAS                 26       F                                     GREEN FUND LLC GREEN CLASS       37     HUDSON BAY INTERNATIONAL FUND     45
 DOUBLE BLACK DIAMOND LTD - SER                 49                                             GREEN T G2 FUND                  15     HUTCHIN HILL DIVERSIFIED ALPHA    49
                                                         FARRINGDON ALPHA ONE             23
 DUET GLOBAL FUND PLUS                          23                                             GREENLIGHT CAPITAL OFFSHORE, L   28
                                                         FEINGOLD OKEEFFE CAPITAL I OFF   15
 DUNN WMA UCITS                                 19                                             GROWTH MANAGEMENT LTD            20     I
                                                         FINISTERRE SOVEREIGN DEBT FUND   13
 DYMON ASIA MACRO FUND (SERIES                  36                                             GRT TOPAZ OFFSHORE PARTNERS, L   28
                                                         FIREBIRD NEW RUSSIA FUND, LTD    20                                           III FUND LTD                      32
                                                                                               GSA CAPITAL INTERNATIONAL FUND   46
                                                         FIREBIRD REPUBLICS FUND, LTD     20                                           III RELATIVE VALUE CREDIT STRA    32


Past performance is not a reliable indicator of future performance.                                                                  HSBC Alternative Investment Group    |   5
Source - HSBC
 III SELECT CREDIT FUND LTD CLA                 15                                             MARSHALL WACE - MW EUREKA A1 E   23     MONEDA LATIN AMERICAN CORPORAT    13
 INVESTCORP SILVERBACK ARBITRAG                 12       L                                     MARSHALL WACE - MW EUROPEAN TO   21     MOORE GLOBAL INV FD, LTD - A $    39
 INVICTA OFFSHORE FUND LTD                      25                                             MARSHALL WACE - MW GLOBAL FINA   27     MOORE MACRO MANAGERS FUND, LTD    39
                                                         LANSDOWNE DEVELOPED MARKET FUN 23
 IP ALL SEASONS ASIAN CREDIT HE                 13                                             MARSHALL WACE - MW GLOBAL OPPO   23     MS ASCEND UCITS FUND CLASS I E    24
                                                         LANSDOWNE EUROPEAN EQUITY FD,    21
 IVORY CAPITAL ENHANCED STRATEG                 26                                             MARSHALL WACE - MW MARKET NEUT   44     MUDRICK DISTRESSED OPPORTUNITY    17
                                                         LANSDOWNE GLOBAL FINANCIALS FU   26
 IVORY CAPITAL FLAGSHIP STRATEG                 26                                             MARTIN CURRIE ARF - JAPAN FUND   24
                                                         LAZARD GLOBAL HEXAGON FUND       23
                                                                                               MARTIN CURRIE EUROPEAN HEDGE F   21     N
                                                         LAZARD RATHMORE FUND - CLASS A   12
 J                                                                                             MASTERS FUND LTD MAGNOLIA SERI   33
                                                         LC CAPITAL OFFSHORE FUND, LTD    17                                           NEVSKY FUND PLC (COMPOSITE)       24
                                                                                               MAVERICK FUND, LTD - CLASS A/1   23
 JABCAP EMEA FUND CLASS X1                      20       LIM ASIA MULTI-STRATEGY FUND C   45                                           NEZU CYCLICALS FUND LTD           19
                                                                                               MBAM ACTIVE LONG SHORT           22
 JABCAP GLOBAL BALANCED FUND LT                 50       LIM JAPAN FUND                   51                                           NORDIC ALPHA CLASS B - NOK        22
                                                                                               MELLON OFF GLOB OPP FUND LTD -   39
 JABCAP GLOBAL CONVERTIBLE FUND                 12       LINDEN INTERNATIONAL LTD         50
                                                                                               MELLON OFF. ALPHAACCESS FUND L   39
 JABCAP MULTI STRATEGY FUND LTD                 50       LION FUND, LTD (THE)             47                                           O
                                                                                               MERCHANT COMMODITY FUND (THE)    36
 JENOP GLOBAL HEALTHCARE FUND L                 27       LIONSCREST TAILPRO -US EQUITY    52
                                                                                               MIDOCEAN ABSOLUTE RETURN CREDI   16     OBSERVATORY CREDIT MARKETS FUN    14
 JOHO FUND, LTD-A-                              19       LMR GLOBAL OPPORTUNITIES FUND    50
                                                                                               MIDOCEAN CREDIT OPPORTUNITY FU   16     OCCO EASTERN EUROPEAN FUND A S    20
 JPMORGAN PORT. STRAT. FUNDS-EU                 21       LNG EUROPA CREDIT FUND           14
                                                                                               MILLENNIUM INTL LTD              50     OCEANIC HEDGE FUND - CLASS A      19
                                                         LONDON DIVERSIFIED FUND, LTD -   32
                                                                                               MKP PARTNERS OFFSHORE LTD        32     OCP DEBT OPPORTUNITY INTERNATI    16
 K                                                       LOOMIS SAYLES CREDIT LONG SHOR   15
                                                                                               MKP CREDIT OFFSHORE FUND         16     OCTAGON PAN ASIA FUND             19
                                                         LUCIDUS CAPITAL G4 FUND          15
 KALTCHUGA FUND - RUSSIA EQ. SU                 20                                             MKP OPPORTUNITY OFFSHORE, LTD    39     ODEY EUROPEAN, INC (EUR)          22
                                                         LYNX (BERMUDA) LTD               42
 KAMUNTING STREET OFFSHORE FUND                 32                                             MLIS - BEACH POINT DIVERSIFIED   15     OMEGA OVERSEAS PARTNERS, LTD      26
                                                         LYNX BERMUDA 1.5 LTD             42
 KEYNES LEVERAGED QUANTITATIVE                  42                                             MLIS - CCI HEALTHCARE LONG SHO   27     OMNI MACRO FUND I LIMITED         39
 KG INVESTMENT FUND LLC                         30                                             MLIS - GRAHAM CAPITAL SYSTEMAT   42     ONE WILLIAM STREET CAPITAL FUN    16
                                                         M
 KIMA PAN ASIA OFFSHORE FUND -                  19                                             MLIS - MARSHALL W. TOPS UCITS    44     ONSLOW MACRO FUND CLASS A         39
 KINETICS FUND, INC - A/A                       26       M. KINGDON OFFSHORE NV - A/1     23   MLIS - OZ EUROPE UCITS FUND CL   30     ORTUS FUND (CAYMAN) LTD           41
 KING STREET CAPITAL, LTD                       17       MACQUARIE ASIAN ALPHA FUND       44   MLIS - THEOREMA EUROPEAN EQUIT   22     OWL CREEK OVERSEAS FUND, LTD      30
 KING STREET EUROPE LTD CLASS A                 17       MADISON STREET FUND L.P.         26   MLIS - YORK EVEN DRIVEN UCITS    30     OWS CREDIT OPPORTUNITY FUND       17
 KINGDON CREDIT LTD A1/1                        15       MAN GLG MULTI-STRATEGY FUND CL   50   MLM MACRO PEAK PARTNERS OFFSH    39     OYSTER CREDIT OPPORTUNITIES FU    14
 KINSALE COMPASS FUND                           23       MARATHON VERTEX JAPAN FD, LTD    24   MOJNA ALPHA LEVERAGED MASTER F   22
 KL Special Opportunities FUND                  30       MARCATO INTERNATIONAL LTD        30   MOJNA ALPHA MASTER FUND - EUR    22     P
 KLS DIVERSIFIED FUND LTD                       32       MARINUS OPPORTUNITIES FUND (PR   16   MONARCH DEBT RECOVERY FUND LTD   17
                                                                                                                                       PALOMINO FUND LTD CLASS B ORIG    15
 KROM RIVER COMMODITY FUND                      36       MARLIN FUND LP                   26   MONEDA ABSOLUTE RETURN LTD SUB   30
                                                                                                                                       PAN ASIA OPPORTUNITIES FUND LT    45
                                                         MARSHALL WACE - MW CORE A USD    21   MONEDA CHILE FUND LTD            35
                                                                                                                                       PASSPORT GLOBAL STRATEGY FUND     24

Past performance is not a reliable indicator of future performance.                                                                  HSBC Alternative Investment Group    |   6
Source - HSBC
 PASSPORT LONG SHORT STRATEGY F                 24       POLLUX BRAZILIAN EQUITIES FUND   20   SFP VALUE REALIZATION FUND       31     TOSCA CLASS A - USD               27
 PASSPORT SPECIAL OPPORTUNITIES                 35       PORTLAND HILL OVERSEAS FUND LT   50   SIERRA EUROPE OFFSHORE, LTD -    22     TRADELINK INTEGRATED PROGRAM L    43
 PAULSON ADVANTAGE LTD -A-                      30       PROLOGUE FEEDER FUND, LTD. CLA   32   SILVER POINT CAPITAL OFFSHORE    17     TRAXIS SIVIK GLOBAL HEALTHCARE    28
 PAULSON ADVANTAGE PLUS LTD                     31       PROSIRIS GLOBAL OPPORTUNITIES    15   SINFONIETTA FUND                 37     TREND MACRO OFFSHORE LTD          39
 PAULSON CREDIT OPPORTUNITIES L                 17                                             SKYLINE UCITS FUND INSTITUTION   20     TRIAN PARTNERS LTD                31
 PAULSON ENHANCED LTD                           47       Q                                     SOLAISE SYSTEMATIC FUND LTD (    43     TRICADIA CREDIT STRATEGIES, LT    16
 PAULSON INTERNATIONAL, LTD                     47                                             SOLUS SOLA LTD CL. I             31     TT INTERNATIONAL FUND             39
                                                         QVT OFFSHORE LTD CLASS 1-NR      50
 PAULSON RECOVERY FUND LTD                      31                                             SOMERSET SPECIAL OPPORTUNITIES   31     TT MID-CAP EUROPE LONG/SHORT F    22
 PEGASUS UCITS FUND                             25                                             SPF CREDIT SUISSE SECURITIZED    16     TUDOR B.V.I GLOBAL FUND LTD -A    39
                                                         R
 PELAGUS CAPITAL FUND                           32                                             SPINNAKER GLOB OPP FUND, LTD C   37     TUDOR B.V.I GLOBAL FUND LTD -A    39
 PELHAM LONG/SHORT FUND LTD CLA                 22       RAB SPECIAL SITUATION FD LTD     27   SPINNAKER GLOBAL EMERGING MARK   48     TUDOR DISCRETIONARY MACRO FUND    40
 PENSATO EUROPA FUND LTD EURO C                 22       RAVEN ROCK CREDIT OFFSHORE FUN   16   SR GLOBAL FUND C - INTERNATION   24     TUDOR TENSOR FUND LIMITED CLAS    43
 PERCEPTIVE LIFE SCIENCES OFFSH                 28       RBR EUROPEAN LONG SHORT LTD (E   22   SR GLOBAL FUND H - JAPAN (Real   24     TULIP TREND FUND, LTD - A         43
 PERRY PARTNERS INTERNATIONAL I                 31       REAL RETURN ASIAN FUND LTD (TH   19   SR GLOBAL FUND INC - G - GLOBA   20     TWO SIGMA ABSOLUTE RETURN FUND    45
 PERSHING SQUARE INTL.LTD                       31       REDWOOD OFFSHORE FUND            18   SR PHOENICIA INC CLASS -A- SER   21     TWO SIGMA COMPASS CAYMAN FUND     43
 PHALANX JAPAN AUSTRALASIA MULT                 48       RENAISSANCE INSTITUTIONAL DIVE   50   STANDARD PACIFIC CAPITAL -B-     24     TWO SIGMA HORIZON CAYMAN LTD      50
 PHARO MACRO FUND LTD                           39       RENAISSANCE INSTITUTIONAL EQUI   26   STK CAPITAL GLOBAL EQUITIES      24     TYRUS CAPITAL EVENT FUND LTD      31
 PHARO TRADING FUND                             37       RENAISSANCE INSTITUTIONAL FUTU   43   STONE LION FUND LTD CLASS A      17     TYRUS CAPITAL OPPORTUNITIES FU    31
 PIMCO ABSOLUTE RETURN STRATEGY                 32       ROSEMONT OFFSHORE FUND LTD CLA   46   STRATEGIC VALUE RESTRUCTURING    17
 PIMCO GLOBAL CREDIT OPPORTUNIT                 15       RUBICON GLOBAL FUND, LTD         39   STRATUS FUND LIMITED CLASS B     50     U
 PIMCO MULTI-ASSET VOLATILITY F                 52       RUSSIAN PROSPERITY FUND - A      35   SUSA EUROPEAN EQUITIES FUND CL   22
                                                                                                                                       UMJ KOTOSHIRO FUND                24
 PINE RIVER ASIA FUND                           12       RWC SAMSARA FUND CLASS A EURO    22

 PINE RIVER CONVERTIBLES FUND                   12       RWC US ABSOLUTE ALPHA FUND - C   26   T                                       V
 PINE RIVER FIXED INCOME FUND L                 15
                                                                                               TELLIGENT GREATER CHINA FUND     20
 PINE RIVER FUND CLASS -B1- SHA                 50       S                                                                             VAN ECK HARD ASSETS 2X FUND LT    19
                                                                                               TEWKSBURY INVESTMENT FUND, LTD   43
 PINE RIVER LIQUID MORTGAGE FUN                 32                                                                                     VARDEN PACIFIC OPPORTUNITY OFF    16
                                                         SAB OVERSEAS FUND LTD            26   THE CAMBRIDGE STRATEGY - APOLL   37
 PINPOINT CHINA FUND CLASS A US                 19                                                                                     VISIUM BALANCED OFFSHORE FUND     28
                                                         SABA CAPITAL OFFSHORE FUND LTD   16   THE CAMBRIDGE STRATEGY - ASIAN   36
 PINPOINT MULTI-STRATEGY FUND                   39                                                                                     VISIUM GLOBAL OFFSHORE FUND LT    50
                                                         SCHRODER ISF EMERGING MARKET D   13   THE CAMBRIDGE STRATEGY - EMERG   36
 PLATINUM FUND LTD                              24                                                                                     VISIUM INSTITUTIONAL PARTNERS     27
                                                         SEGANTII ASIA-PACIFIC EQUITY M   48   THE CAMBRIDGE STRATEGY - EXTEN   37
 PLATINUM PARTNERS VALUE ARBITR                 50                                                                                     VR GLOBAL OFFSHORE FUND LTD       18
                                                         SELIGMAN TECH SPECTRUM FUND CL   29   THEOREMA EUROPE FUND PLUS LTD    22
 POLAR CAPITAL EUROP CONVICTION                 22
                                                         SEMINOLE OFFSHORE FUND           26   THREE BRIDGES EUROPE MASTER FU   22
 POLAR CAPITAL EUROPEAN FORAGER                 27
                                                         SENVEST PARTNERS, LTD - CLASS    28   TILDEN PARK OFFSHORE INVESTMEN   16

Past performance is not a reliable indicator of future performance.                                                                  HSBC Alternative Investment Group    |   7
Source - HSBC
 W
 WATERSTONE MARKET NEUTRAL OFFS 12
 WEISS MULTI-STRATEGY PARTNERS                  50
 WF ASIA FUND LTD S/1                           20
 WHITEBOX MULTI-STRATEGY FUND                   50
 WINTON EVOLUTION FUND (THE)                    43
 WINTON FUTURES FUND - CLASS B                  43


 Y
 YORK ASIAN OPPORTUNITIES UNITS                 30
 YORK INVESTMENT LTD -CLASS A-U                 31


 Z
 ZADIG FUND CLASS A1                            22
 ZEAL CHINA FUND LIMITED                        20
 ZWEIG-DIMENNA INTL LIMITED - C                 26




Past performance is not a reliable indicator of future performance.   HSBC Alternative Investment Group   |   8
Source - HSBC
           Top                                                                                         Bottom
           Investment Funds                                                  Return        Date        Investment Funds                                 Return     Date
           SFP VALUE REALIZATION FUND                                              66.14   22 Nov 13   RAB SPECIAL SITUATION FD LTD                       -27.83   31 Oct 13
           SENVEST PARTNERS, LTD - CLASS A                                         58.59   31 Oct 13   CCP QUANTITATIVE FUND US$ ARISTARCHUS SH.          -24.22   22 Nov 13
           MARLIN FUND LP                                                          57.75   31 Oct 13   EAGLE GLOBAL FUND                                  -20.99   22 Nov 13
           SR GLOBAL FUND H - JAPAN (Real Perf)                                    53.02   15 Nov 13   MONEDA CHILE FUND LTD                              -20.29   22 Nov 13
           BCM WESTON LP                                                           41.90   31 Oct 13   WATERSTONE MARKET NEUTRAL OFFSHORE FUND,           -16.32   22 Nov 13
                                                                                                       LTD
           PAULSON RECOVERY FUND LTD                                               41.63   31 Oct 13
                                                                                                       ORTUS FUND (CAYMAN) LTD                            -15.62   15 Nov 13
           OWL CREEK OVERSEAS FUND, LTD                                            41.42   22 Nov 13
                                                                                                       HIGHBRIDGE QUANTITATIVE COMMODITIES FUND           -14.85   31 Oct 13
           JABCAP GLOBAL BALANCED FUND LTD CLASS D/1 NI                            39.71   19 Nov 13   CLASS B
           KINETICS FUND, INC - A/A                                                38.34   22 Nov 13   HIGHBRIDGE QUANTITATIVE COMMODITIES FUND           -14.67   31 Oct 13
           PEGASUS UCITS FUND                                                      38.25   15 Nov 13   CLASS A
           JABCAP MULTI STRATEGY FUND LTD CLASS D/1 NI                             37.83   31 Oct 13   CONQUEST MACRO FUND, LTD (COMP)                    -12.95   27 Nov 13
           GLENVIEW CAPITAL PARTNERS (CAYMAN), LTD.                                37.48   31 Oct 13   DISCUS FEEDER LTD CL. B USD STANDARD LEVERAGE      -12.88   22 Nov 13
           TRIAN PARTNERS LTD                                                      36.66   22 Nov 13   HIGHBRIDGE STATISTICAL OPP. LTD – CLASS A          -12.17   15 Nov 13
           PERCEPTIVE LIFE SCIENCES OFFSH FUND, LTD                                36.36   22 Nov 13   BREVAN HOWARD EM. MKT STRATEGIES FUND LTD          -11.72   31 Oct 13
           DORSET ENERGY FUND, LTD - CLASS A                                       32.75   22 Nov 13   EAGLE QUANTITATIVE MACRO FUND LTD                  -11.16   31 Oct 13
           UMJ KOTOSHIRO FUND                                                      31.98   31 Oct 13   THE CAMBRIDGE STRATEGY - EXTENDED MARKETS          -10.81   22 Nov 13
                                                                                                       CURRENCY ALPHA
           PASSPORT SPECIAL OPPORTUNITIES FUND LTD CLASS                           31.98   31 Oct 13
           AA                                                                                          ARMAJARO STS COMMODITIES FUND CLASS -Z-            -10.15   31 Oct 13
           PALOMINO FUND LTD CLASS B ORIGINAL SERIES                               31.47   31 Oct 13   HSBC TRADING ADVANTEDGE FUND                        -9.94   15 Nov 13
           JOHO FUND, LTD-A-                                                       29.59   22 Nov 13   BLUETREND FUND, LTD - CLASS A                       -8.92   31 Oct 13
           LANSDOWNE DEVELOPED MARKET FUND, LTD (GBP)                              28.95   22 Nov 13   DB PLATINUM V HERMES A.R. COMMODITY FUND            -8.41   26 Nov 13
                                                                                                       PIMCO MULTI-ASSET VOLATILITY FUND LTD               -7.17   31 Oct 13
                                                                                                       TUDOR TENSOR FUND LIMITED CLASS I                   -7.04   22 Nov 13




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
           Top                                                                                         Bottom
           Investment Funds                                                  Return        Date        Investment Funds                                  Return     Date
           BTG PACTUAL DISTRESSED MORTGAGE FUND                                    46.16   31 Dec 12   CONQUEST MACRO FUND, LTD (COMP)                     -33.16   31 Dec 12
           SFP VALUE REALIZATION FUND                                              44.54   31 Dec 12   RAB SPECIAL SITUATION FD LTD                        -27.94   31 Dec 12
           CAIRN SUBORDINATED FINANCIALS FUND                                      43.43   31 Dec 12   PAULSON ADVANTAGE PLUS LTD                          -21.50   31 Dec 12
           TILDEN PARK OFFSHORE INVESTMENT FUND LTD                                41.34   31 Dec 12   DUNN WMA UCITS                                      -20.22   31 Dec 12
           BROOKFIELD GLOBAL REITS LONG SHORT STRATEGY                             40.00   31 Dec 12   BEACH HORIZON FUND LTD                              -19.51   31 Dec 12
           CHENAVARI REGULATORY CAPITAL STRATEGY - DR €                            36.91   31 Dec 12   ARMAJARO STS COMMODITIES FUND CLASS -Z-             -18.15   31 Dec 12
           CQS DIRECTIONAL OPP. FEEDER FUND. Ltd – A NI USD                        35.86   31 Dec 12   HIGHBRIDGE QUANTITATIVE COMMODITIES FUND            -17.57   31 Dec 12
                                                                                                       CLASS B
           PINE RIVER FIXED INCOME FUND LTD                                        34.85   31 Dec 12
                                                                                                       HIGHBRIDGE QUANTITATIVE COMMODITIES FUND            -17.36   31 Dec 12
           SENVEST PARTNERS, LTD - CLASS A                                         34.81   31 Dec 12   CLASS A
           BLACKROCK OBSIDIAN FUND                                                 34.27   31 Dec 12   ORTUS FUND (CAYMAN) LTD                             -17.33   31 Dec 12
           400 CAPITAL CREDIT OPPORTUNITIES                                        34.21   31 Dec 12   AJIA-LIGHTHORSE CHINA GROWTH FUND LTD               -14.51   31 Dec 12
           ASGARD FIXED INCOME FUND LTD                                            34.12   31 Dec 12   PAULSON ADVANTAGE LTD -A-                           -14.23   31 Dec 12
           CHENAVARI TORO CAPITAL I A                                              32.42   31 Dec 12   ELM RIDGE CAPITAL PARTNERS L.P.                     -14.08   31 Dec 12
           MARLIN FUND LP                                                          31.53   31 Dec 12   DISCUS FEEDER LTD CL. B USD STANDARD LEVERAGE       -13.88   31 Dec 12
           SR GLOBAL FUND H - JAPAN (Real Perf)                                    31.05   31 Dec 12   LYNX BERMUDA 1.5 LTD                                -10.82   31 Dec 12
           ODEY EUROPEAN, INC (EUR)                                                30.69   31 Dec 12   ASPECT DIVERSIFIED FUND - CLASS A                   -10.66   31 Dec 12
           RBR EUROPEAN LONG SHORT LTD (Ex Rhine Alpha Stars)                      29.45   31 Dec 12   CAMPBELL GLOBAL ASSETS FUND LTD Class D             -10.10   31 Dec 12
           PALOMINO FUND LTD CLASS B ORIGINAL SERIES                               29.29   31 Dec 12   MLIS - GRAHAM CAPITAL SYSTEMATIC MACRO UCITS        -10.09   31 Dec 12
           PINE RIVER LIQUID MORTGAGE FUND LTD                                     28.86   31 Dec 12   FUND
           MARCATO INTERNATIONAL LTD                                               28.67   31 Dec 12   COMAC GLOBAL MACRO FUND                              -8.95   31 Dec 12
                                                                                                       WINTON EVOLUTION FUND (THE)                          -8.31   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      |   10
Source - HSBC
           Top                                                                                         Bottom
           Investment Funds                                                  Return        Date        Investment Funds                                  Return     Date
           CUMULUS ENERGY FUND CLASS A USD                                         99.63   31 Dec 11   PAULSON ADVANTAGE PLUS LTD                          -52.64   31 Dec 11
           SEGANTII ASIA-PACIFIC EQUITY MULTI-STRATEGY FUND                        40.75   31 Dec 11   PAULSON ADVANTAGE LTD -A-                           -35.96   31 Dec 11
           FORT GLOBAL DIVERSIFIED                                                 39.95   31 Dec 11   MLM MACRO PEAK PARTNERS OFFSH FD, LTD - B           -35.04   31 Dec 11
           RENAISSANCE INSTITUTIONAL EQUITIES LP (B)                               34.12   31 Dec 11   SENVEST PARTNERS, LTD - CLASS A                     -33.96   31 Dec 11
           MARSHALL WACE - MW GLOBAL OPPORTUNITIES A USD                           27.16   31 Dec 11   MERCHANT COMMODITY FUND (THE) - COMPOSITE           -30.07   31 Dec 11
           ASGARD FIXED INCOME FUND LTD                                            25.31   31 Dec 11   PAULSON RECOVERY FUND LTD                           -27.92   31 Dec 11
           CANDLEWOOD STRUCTURED CREDIT FUND LTD                                   25.27   31 Dec 11   JABCAP GLOBAL BALANCED FUND LTD CLASS D/1 NI        -27.33   31 Dec 11
           BLACKROCK 32 CAPITAL MASTER FUND SPC, LTD (THE)                         24.92   31 Dec 11   JABCAP MULTI STRATEGY FUND LTD CLASS D/1 NI         -25.65   31 Dec 11
           - A/1
                                                                                                       SR GLOBAL FUND C - INTERNATIONAL (Real Perf)        -24.27   31 Dec 11
           CHENAVARI TORO CAPITAL I A                                              24.71   31 Dec 11
                                                                                                       CASTLEROCK FUND LTD                                 -23.84   31 Dec 11
           BLACKROCK CAPITAL STRUCTURE INVESTMENTS FUND                            22.94   31 Dec 11
                                                                                                       MONEDA CHILE FUND LTD                               -23.66   31 Dec 11
           LTD
                                                                                                       CHILTON CHINA OPPORTUNITIES FUND LTD                -23.21   31 Dec 11
           SINFONIETTA FUND                                                        22.92   31 Dec 11
                                                                                                       ARMAJARO EMERGING MARKETS FUND CLASS -A-            -22.31   31 Dec 11
           DISCUS FEEDER LTD CL. B USD STANDARD LEVERAGE                           21.95   31 Dec 11
                                                                                                       PAULSON ENHANCED LTD                                -21.55   31 Dec 11
           PLATINUM PARTNERS VALUE ARBITRAGE INT. FUND                             21.03   31 Dec 11
           LTD                                                                                         TRADELINK INTEGRATED PROGRAM LTD                    -21.27   31 Dec 11
           PIMCO MULTI-ASSET VOLATILITY FUND LTD                                   20.36   31 Dec 11   SR PHOENICIA INC CLASS -A- SERIES 1                 -20.97   31 Dec 11
           DYMON ASIA MACRO FUND (SERIES A)                                        20.11   31 Dec 11   TULIP TREND FUND, LTD - A                           -20.93   31 Dec 11
           BLACKROCK FIXED INCOME GLOBAL ALPHA FUND                                19.93   31 Dec 11   LANSDOWNE GLOBAL FINANCIALS FUND LTD. -N-USD        -20.82   31 Dec 11
           CAMPBELL GLOBAL ASSETS FUND LTD Class D                                 18.36   31 Dec 11   ODEY EUROPEAN, INC (EUR)                            -20.56   31 Dec 11
           ELLINGTON MORTGAGE OPPORTUNITIES MASTER                                 16.19   31 Dec 11   MLIS - GRAHAM CAPITAL SYSTEMATIC MACRO UCITS        -20.38   31 Dec 11
           FUND LTD                                                                                    FUND
           STRATUS FUND LIMITED CLASS B                                            15.63   31 Dec 11
           GSA CAPITAL INTERNATIONAL FUND, LTD - CLASS A                           15.20   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      |   11
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012     2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                       Drawdown1

Convertible
Ytd Avg. 2013   7.85%
                                                                                                                               Ytd Avg. 2013
Convertible/Asia                                                                                                                   6.26%
   CQS ASIA FEEDER FUND LTD- CLASS -B-USD                       30 Apr 07         Q       $99M        1,309.75   31 Oct   0.29%    5.14%     5.45%   -4.26%    10.74%        4.23%    8.00%        (24.55%)
   Michael Hintze, Jean-Christophe Blanc                                                  Oct 13                   13                                                                            Oct 07 - Oct 08

   PINE RIVER ASIA FUND                                         30 Jun 04         Q       $263M       1,666.62   22 Nov (0.38%) 7.38%       8.08%    0.67%     12.99%        5.58%    11.20%       (37.86%)
   Nikhil Mankodi                                                                         Oct 13                   13                                                                            Jan 08 - Dec 08
                                                                                                                              Ytd Avg. 2013
Convertible/Global                                                                                                               12.44%
   BASSO INVESTORS LTD                                          30 Sep 95         Q       $347M       6,979.60   22 Nov 0.19%     9.94%      9.5%    2.61%     17.15%       11.29%    5.98%        (25.00%)
   Howard Fischer                                                                         Oct 13                   13                                                                            Dec 07 - Oct 08

   CQS CONV & QUANT STRATS FEED FD, LTD                         29 Feb 00         M      $431M        3,074.24   31 Oct   1.12%   6.20%     8.65%    -1.88%     7.98%        8.56%    8.16%        (34.47%)
   CLASS-B-                                                                              Sep 13                    13                                                                            Oct 07 - Dec 08
   Michael Hintze/ Alex Schoenenberger
   JABCAP GLOBAL CONVERTIBLE FUND - D1                          30 Apr 07         W       $271M        188.13    19 Nov   0.99%   23.83%    5.37%    -14.15%    8.45%       10.10%    13.23%       (28.61%)
   Unrestricted                                                                           Jun 13                   13                                                                            May 08 - Nov 08
   Philippe Jabre
   LAZARD RATHMORE FUND - CLASS A-2                             31 May 07       Q/M      $938M         211.28    22 Nov (0.06%) 9.80%       4.59%    -1.65%    16.97%       12.23%    8.75%        (16.23%)
   Sean Reynolds, Christopher Sferruzzo                                                  Aug 13                    13                                                                            Aug 08 - Nov 08
                                                                                                                              Ytd Avg. 2013
Convertible/USA                                                                                                                   2.80%
   INVESTCORP SILVERBACK ARBITRAGE FUND                         31 Oct 06         Q      $534M         267.73    22 Nov (0.61%) 4.60%       3.34%    4.97%     11.16%       14.96%    13.57%       (25.79%)
   Silverback Asset Management                                                           Sep 13                    13                                                                            Jun 08 - Nov 08

   PINE RIVER CONVERTIBLES FUND                                  31 Jul 09        Q       $118M        197.89    22 Nov   0.64%   20.11%     7.6%    4.98%     22.41%       17.14%    7.00%         (3.80%)
   Franklin Parlamis                                                                      Oct 13                   13                                                                            Apr 10 - Jun 10

   WATERSTONE MARKET NEUTRAL OFFSHORE FUND,                      31 Jul 03        Q      $966M         204.17    22 Nov (1.24%) (16.32%)    11.1%    0.73%      6.1%         7.16%    10.52%       (17.56%)
   LTD                                                                                   Sep 13                    13                                                                            Aug 08 - Oct 08
   Shawn Bergerson




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                      HSBC Alternative Investment Group             |      12
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD       YTD       2012     2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                         Drawdown1

Credit
Ytd Avg. 2013   8.68%
                                                                                                                              Ytd Avg. 2013
Credit/Emerging                                                                                                                   2.94%
   ABSOLUTE INSIGHT EMERGING MARKET DEBT FUND 30 Apr 08                           D      €681M          1.43     27 Nov (1.56%) (0.85%)     11.73%     0.08%      8.01%        6.60%    7.97%        (15.32%)
   CLASS B1P                                                                             Nov 13                    13                                                                              May 08 - Oct 08
   Colm McDonagh
   BAF LATAM TRADE FINANCE FUND                                 29 Feb 08         M       $210M        167.03    31 Oct   0.62%     6.66%     8.71%    8.99%     11.23%        9.46%    0.44%          0.00%
   Ernesto Lienhard & team.                                                               Oct 13                   13                                                                              Jan 00 - Jan 00

   BLUEBAY EMERGING MARKET FIXED INCOME                         30 Nov 11         M       $116M        104.70    31 Oct   0.67%     (1.52%)   6.99%    -0.62%                  2.42%    3.67%         (3.27%)
   OPPORTUNITY FUND                                                                       Oct 13                   13                                                                              Dec 12 - Mar 13
   David Dowsett, Rodrigo Da Fonseca
   FINISTERRE SOVEREIGN DEBT FUND                               31 Mar 03         Q       $683M        270.30    31 Oct   0.55%     7.70%     4.3%     10.35%    12.04%        9.84%    7.30%        (21.00%)
   Paul Crean and Xavier Corin-Mick                                                       Oct 13                   13                                                                              Jun 08 - Oct 08

   IP ALL SEASONS ASIAN CREDIT HEDGE FUND                       31 Jan 02         M      $385M         21.85     20 Nov   0.33%     0.90%     18.68%   -1.37%    17.43%        6.84%    9.47%        (38.05%)
   Emil NGUY                                                                             Mar 13                    13                                                                              Feb 08 - Mar 09

   MONEDA LATIN AMERICAN CORPORATE DEBT FUND 30 Sep 07                            Q       $153M       1,793.39   19 Nov (0.00%)     7.38%     11.48%   2.44%     17.08%        9.98%    14.93%       (32.05%)
   -A-                                                                                    Oct 13                   13                                                                              Aug 08 - Dec 08
   Fernando Tisné and Javier Montero
   SCHRODER ISF EMERGING MARKET DEBT A/R -I                     31 Jan 02       Daily    $3'600M       33.92     27 Nov (0.88%)     0.33%     5.36%    0.69%      2.94%        8.31%    5.31%         (9.31%)
   ACC-                                                                                   Jun 13                   13                                                                              Mar 08 - Oct 08
   Geoffrey Blanning
                                                                                                                               Ytd Avg. 2013
Credit/Europe                                                                                                                      9.43%
   ABSOLUTE INSIGHT CREDIT FUND B1P2 EURO                       30 Sep 11         W      €510M          1.23     27 Nov   1.15%    6.38%     12.65%    2.59%                  10.03%    5.13%         (1.77%)
   Alex Veroude                                                                          Nov 13                    13                                                                              Oct 11 - Dec 11

   CAIRN CREDIT FOCUS FUND LTD                                   31 Jul 12        M       $83M         111.18    31 Oct   (0.12%)   4.51%     6.38%                            8.83%    2.84%         (0.78%)
   Cairn Capital Limited                                                                  Oct 13                   13                                                                              May 13 - Jun 13

   CAIRN SPECIAL OPPORTUNITIES CREDIT FUND                      31 Dec 07         Q       €67M         182.07    31 Oct   0.46%     8.69%     19.95%   -12.51%   10.39%       10.81%    8.23%        (13.94%)
   Cairn Capital Limited                                                                  Oct 13                   13                                                                              Jun 11 - Nov 11

   CAIRN SUBORDINATED FINANCIALS FUND                           30 Sep 11         M      €109 M        164.28    31 Oct   0.80%     7.26%     43.43%   6.78%                  26.84%    10.52%        (4.95%)
   Cairn Capital Limited                                                                 Sep 13                    13                                                                              Mar 12 - May 12

   CHENAVARI REGULATORY CAPITAL STRATEGY - DR                   31 Mar 11         Q       $174M        149.69    31 Oct   2.56%     12.56%    36.91%   -2.87%                 16.86%    6.21%         (4.65%)
   €                                                                                      Oct 13                   13                                                                              Jul 11 - Sep 11
   Chenavari Investment Managers
   CHENAVARI TORO CAPITAL I A                                   31 May 09         M       $343M        716.68    31 Oct   4.20%     26.45%    32.42%   24.71%    90.56%       56.11%    12.80%        (5.11%)
   Chenavari Investment Managers                                                          Oct 13                   13                                                                              Jul 11 - Oct 11

   EIFFEL CREDIT OPPORTUNITIES FUND CLASS A                     30 Nov 11         M      €94M         1,320.25   22 Nov   1.50%     6.74%     20.07%   3.01%                  15.05%    7.24%         (4.47%)
   Emmanuel Weyd, Eiffel Investment Group                                                Nov 13                    13                                                                              Apr 12 - Jun 12

1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                        HSBC Alternative Investment Group             |      13
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012      2011     2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                       Drawdown1
                                                                                                                               Ytd Avg. 2013
Credit/Europe                                                                                                                      9.43%
   LNG EUROPA CREDIT FUND                                       31 Mar 11         M       $56M        1,264.31   31 Oct   1.70% 15.43%       19.58%   -7.79%                 9.76%    9.43%        (10.12%)
   LNG Capital LLP                                                                        Oct 13                   13                                                                            Apr 11 - May 12

   OBSERVATORY CREDIT MARKETS FUND (THE)                        30 Jun 04         M       $823M        298.50    31 Oct   0.82%   5.50%     13.46%    -5.02%    7.36%       12.42%    6.66%        (12.74%)
   Shazad Ghaffar                                                                         Oct 13                   13                                                                             Jul 07 - Jul 08

   OYSTER CREDIT OPPORTUNITIES FUND CLASS                        31 Jul 09        W       €402M       1,183.02   22 Nov (0.27%)   0.78%     9.99%     -1.61%     5%          3.97%    3.40%         (6.80%)
   EUR2                                                                                   Oct 13                   13                                                                            May 11 - Sep 11
   Cairn Capital Limited
                                                                                                                               Ytd Avg. 2013
Credit/Global                                                                                                                      9.78%
   AG MORTGAGE VALUE PARTNERS LTD                               30 Apr 09         Q      $1'024M       221.40    15 Nov   0.95% 10.61%       20.08%   7.42%    24.06%       19.09%    4.44%         (1.70%)
   Jonathan Lieberman                                                                     Oct 13                   13                                                                            May 13 - Jun 13

   ARISTEIA INTERNATIONAL LTD                                   01 Aug 97         Q      $1'374M       911.50    14 Nov   0.50%   14.39%    11.2%     2.36%     10.5%       14.52%    9.06%        (30.20%)
   Anthony M. Frascella, William R. Techar                                                Nov 13                   13                                                                            May 08 - Dec 08

   ASGARD FIXED INCOME FUND LTD                                 30 Jun 03         M      € 263 M       418.92    22 Nov   2.78%   15.76%    34.12%    25.31%   20.62%       14.76%    6.95%        (11.54%)
   Morten Mathiesen                                                                      May 13                    13                                                                            Aug 08 - Dec 08

   AXONIC CREDIT OPPORTUNITIES OVERSEAS                         31 Dec 10         Q      $1'010M       144.85    30 Sep   0.09%   8.72%     25.69%    6.01%       -         14.42%    4.69%         (3.35%)
   FUND,LTD                                                                               Sep 13                   13                                                                            Jul 11 - Oct 11
   Clayton DeGiacinto
   BLUEBAY CREDIT ALPHA LONG SHORT FUND                         31 Oct 11         M       €187M        125.77    22 Nov   1.50%   8.24%     26.2%      0.3%                 16.49%    4.95%         (1.60%)
   Geraud Charpin                                                                         Oct 13                   13                                                                            Jan 13 - Mar 13

   BLUECREST MULTI STRATEGY CREDIT FUND                         31 Oct 07         Q      $1'647M       156.78    31 Oct   1.67%   6.08%     7.23%     -1.31%    1.56%        7.78%    6.14%         (7.59%)
   Mike Platt                                                                             Dec 12                   13                                                                            Apr 11 - Jan 12

   BLUEMOUNTAIN CREDIT ALTERNATIVES FUND                        31 Oct 03         Q      $6'312M       254.15    22 Nov   0.48%   6.84%     14.51%    3.57%    12.19%        9.71%    6.27%        (11.82%)
   BlueMountain Capital Management                                                        Oct 13                   13                                                                            Aug 08 - Dec 08

   BLUEMOUNTAIN LONG SHORT CREDIT FUND LTD                      31 Jan 10         M       $950M       1,152.12   22 Nov   0.24%   6.84%     7.84%     3.65%     9.76%        7.36%    3.57%         (3.43%)
   BlueMountain Capital Management                                                        Oct 13                   13                                                                            Apr 11 - Sep 11

   BREVAN HOWARD CREDIT CATALYSTS FUND LTD                       31 Jul 09        M      $4'199M       170.46    31 Oct   1.73%   10.30%    15.34%    1.22%    13.46%       13.35%    4.44%         (5.05%)
   CLASS A USD                                                                            Sep 13                   13                                                                            May 11 - Dec 11
   DW Investment Management ,LP
   BREVAN HOWARD CREDIT VALUE FUND LTD                          29 Feb 12        HY      $418M         138.90    31 Oct   2.72%   16.71%    19.01%                          21.72%    6.02%         (2.00%)
   DW Investment Management ,LP                                                          Sep 13                    13                                                                            May 13 - Jun 13

   CANDLEWOOD STRUCTURED CREDIT FUND LTD                        31 Dec 10         M       $505M        165.71    31 Oct   1.11%   10.12%    20.12%    25.27%      -         19.50%    3.88%         (1.55%)
   Greg Richter and Brian Herr                                                            Oct 13                   13                                                                            May 13 - Jun 13

   CANDLEWOOD STRUCTURED CREDIT HARVEST FD                       31 Jul 12        Q       $181M        123.90    31 Oct   1.40%   11.91%    10.71%                          18.66%    4.69%         (2.20%)
   LTD -                                                                                  Oct 13                   13                                                                            May 13 - Jun 13
   Greg Richter and Brian Herr
   CHENAVARI CORPORATE CREDIT STRATEGY M1                       30 Sep 08         M       $353M        140.76    31 Oct   2.07%   10.73%    17.22%    1.29%    12.41%       14.06%    5.72%         (6.82%)
   Chenavari Investment Managers                                                          Oct 13                   13                                                                            Apr 11 - Aug 11

1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                      HSBC Alternative Investment Group              |     14
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD       YTD       2012     2011     2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                        Drawdown1
                                                                                                                              Ytd Avg. 2013
Credit/Global                                                                                                                     9.78%
   COHERENCE CAPITAL SPECTRUM FUND OFFSHORE                      31 Jul 12        Q      $52M          13.29     22 Nov (0.01%) 16.42%      14.17%                           24.21%    5.14%         (1.24%)
   FUND                                                                                  Nov 13                    13                                                                             May 13 - Jun 13
   Coherence Capital Partners LLC
   CQS ABS FEEDER FUND - CLASS -B1- USD                         30 Sep 06         Q      $1'958M      4,962.52   31 Oct   1.05%     7.86%     16.85%   0.67%     19.2%       25.35%    11.89%        (3.86%)
   Simon Finch                                                                            Oct 13                   13                                                                             Apr 07 - Jun 07

   CQS CREDIT LONG SHORT FEEDER FUND LTD - B1                   30 Apr 09         M      $239M        1,067.47   31 Oct   (1.76%)   (4.92%)   -5.28%   7.74%     8.75%        1.64%    3.99%        (10.57%)
   EUR                                                                                   Sep 13                    13                                                                             Sep 11 - Oct 13
   Simon Finch
   ELLINGTON CREDIT OPPORTUNITIES FUND LTD                      30 Apr 08         Q      $518M         250.06    31 Oct   1.20%     14.46%    27.73%   1.86%    12.47%       18.11%    6.13%         (1.84%)
   Ellington Management Group, LLC                                                       Sep 13                    13                                                                             Apr 11 - Jul 11

   ELLINGTON MORTGAGE OPPORTUNITIES MASTER                      31 Jan 09         Q      $265M         239.50    31 Oct   0.62%     8.18%     13.29%   16.19%   23.72%       20.18%    4.02%         (0.58%)
   FUND LTD                                                                              Sep 13                    13                                                                             Mar 13 - Apr 13
   Ellington Management Group, LLC
   FEINGOLD OKEEFFE CAPITAL I OFFSHORE, LTD                      31 Jul 02        Q       $40M         253.19    15 Nov   0.35%     10.06%    7.14%    -9.97%   20.28%        8.57%    7.90%        (29.78%)
   Andrea S. Feingold & R. Ian O’Keeffe                                                   Apr 13                   13                                                                             Jun 07 - Dec 08

   GREEN T G2 FUND                                              28 Feb 99         Q       $570M        193.86    22 Nov   0.31%     1.18%     2.8%      0.8%     5.88%        6.57%    3.59%         (4.26%)
   Darryl Green, Geoffrey Sherry                                                          Oct 13                   13                                                                             Dec 03 - Jul 04

   III SELECT CREDIT FUND LTD CLASS -A-                         31 Dec 07         Q       $240M       1,856.35   22 Nov   0.20%     7.70%     11.95%   7.41%    18.47%       11.24%    6.88%         (8.44%)
   Lester Coyle                                                                           Oct 13                   13                                                                             Aug 08 - Nov 08

   KINGDON CREDIT LTD A1/1                                      30 Sep 09         Q      $259 M       1,560.60   22 Nov   2.00%     13.96%    8.3%     1.64%    16.36%       11.51%    5.50%         (6.34%)
   Michael Pohly                                                                         Oct 13                    13                                                                             May 11 - Sep 11

   LOOMIS SAYLES CREDIT LONG SHORT FUND                         31 Aug 07         Q      $522M         174.04    15 Nov   0.22%     3.72%     12.48%   -0.76%   12.15%        9.33%    6.81%         (9.90%)
   Kevin Kearns and Tom Stolberg                                                         Mar 13                    13                                                                             Jun 08 - Sep 08

   LUCIDUS CAPITAL G4 FUND                                      28 Feb 11         Q      $545M         108.68    22 Nov   0.63%     2.21%     5.23%    1.04%                  3.09%    3.20%         (1.97%)
   Darryl Green, Geoffrey Sherry                                                         Sep 13                    13                                                                             Feb 11 - Jun 11

   MLIS - BEACH POINT DIVERSIFIED CREDIT UCITS                  31 Mar 13         W       $59M         107.40    26 Nov   0.67%     7.40%                                    11.47%    3.85%         (1.01%)
   FUND CLASS B USD                                                                       Oct 13                   13                                                                             May 13 - Jun 13
   Carl Goldsmith and Scott Klein
   PALOMINO FUND LTD CLASS B ORIGINAL SERIES                    31 Dec 94         Y      $6'705M      8,597.74   31 Oct   3.04%     31.47%    29.29%   -3.53%   27.86%       26.66%    20.21%       (49.05%)
   David Tepper                                                                           Jul 13                   13                                                                             Feb 98 - Sep 98

   PIMCO GLOBAL CREDIT OPPORTUNITY FUND                         30 Jun 06         Q      $1'571M       172.03    31 Oct   0.34%     8.42%     15.18%   6.24%     9.17%        7.67%    5.24%        (12.86%)
   SERIES 1                                                                               Oct 13                   13                                                                             Jun 07 - Nov 08
   Dan Ivascyn / Jon Horne
   PINE RIVER FIXED INCOME FUND LTD                             31 Jan 08         Q      $3'469M       573.54    22 Nov (0.09%)     8.73%     34.85%   4.77%    31.84%       35.04%    9.46%         (8.83%)
   Steve Kuhn                                                                             Oct 13                   13                                                                             Jul 11 - Oct 11

   PROSIRIS GLOBAL OPPORTUNITIES FUND                           30 Jun 11         Q       $895M        159.34    31 Oct   1.52%     14.97%    22.49%   13.15%                22.03%    4.43%          0.00%
   Reza Ali                                                                               Oct 13                   13                                                                             Jan 00 - Jan 00


1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                       HSBC Alternative Investment Group             |      15
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012      2011       2010      Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                          Drawdown1
                                                                                                                              Ytd Avg. 2013
Credit/Global                                                                                                                     9.78%
   SABA CAPITAL OFFSHORE FUND LTD                                31 Jul 09        Q      $2'640M       125.12    15 Nov (0.19%) (0.52%)     -3.87%    9.33%       10.85%        5.36%    5.09%         (7.32%)
   Boaz Weinstein                                                                         Oct 13                   13                                                                               Jun 12 - Apr 13

   SPF CREDIT SUISSE SECURITIZED PRODUCTS                       31 Dec 11         Q      $1'397M       133.45    31 Oct   1.29%   14.59%    16.46%       -                     17.02%    3.63%         (0.57%)
   MASTER FUND LTD                                                                        Oct 13                   13                                                                               May 13 - Jun 13
   Albert Sohn
   TRICADIA CREDIT STRATEGIES, LTD                              31 Mar 05         Q      $2'034M       339.81    15 Nov   0.07%   8.84%     12.73%    -0.81%      10.19%       15.22%    7.55%        (10.77%)
   Arif Inayatullah & Michael Barnes                                                      Oct 13                   13                                                                               Jun 08 - Nov 08

   VARDEN PACIFIC OPPORTUNITY OFFSHORE FUND I                   31 Mar 11         Q       $45M         120.98    31 Oct   3.70%   10.79%    28.54%    -15.05%                   7.63%    14.00%       (18.02%)
   LTD                                                                                    Oct 13                   13                                                                               Mar 11 - Sep 11
   Varden Pacific LLC
                                                                                                                               Ytd Avg. 2013
Credit/USA                                                                                                                         8.35%
   400 CAPITAL CREDIT OPPORTUNITIES                             31 Jan 09         Q       $600M        247.12    31 Oct   1.63% 12.64%       34.21%   3.07%       21.17%       20.98%    6.39%         (2.91%)
   Chris Hentemann                                                                        Oct 13                   13                                                                               May 11 - Oct 11

   ACUITY CORPORATE OPPORTUNITY FUND LTD                        31 Dec 09         M       $140M        149.59    31 Oct   1.53%   6.94%     11.14%     1.2%       24.36%       11.07%    4.10%         (3.23%)
   John Harnisch                                                                          Oct 13                   13                                                                               Jul 11 - Nov 11

   BRIGADE LEVERAGED CAPITAL STRUCTURES FUND                    31 Dec 06         Q      $5'110M      1,574.63   22 Nov   0.88%   5.13%      6.7%     2.45%       7.52%         6.80%    6.63%        (19.42%)
   Don Morgan                                                                             Nov 13                   13                                                                               Jun 08 - Dec 08

   MARINUS OPPORTUNITIES FUND (PROFORMA)                        31 Dec 09         Q       $389M        154.97    31 Oct   0.98%   5.41%     14.54%      6%        21.08%       12.10%    2.80%         (0.99%)
   Najib Canaan                                                                           Oct 13                   13                                                                               May 13 - Jun 13

   MIDOCEAN ABSOLUTE RETURN CREDIT FUND                         31 Jan 10         M       $291M        139.51    31 Oct   1.35%   6.29%     10.8%     9.99%       7.71%         9.28%    3.75%         (3.26%)
   MidOcean Credit Fund Management LP                                                     Jul 13                   13                                                                               Jul 11 - Sep 11

   MIDOCEAN CREDIT OPPORTUNITY FUND CLASS B                     31 Mar 09         Q       $585M        212.72    31 Oct   1.23%   8.15%     10.78%    7.46%       16.64%       17.88%    6.83%         (2.69%)
   MidOcean Credit Fund Management LP                                                     Jul 13                   13                                                                               Jul 11 - Aug 11

   MKP CREDIT OFFSHORE FUND                                     28 Feb 99         Q      $1'535M       515.86    22 Nov   2.02%   10.23%    19.59%    -5.11%      15.33%       11.77%    5.55%         (8.94%)
   Patrick McMahon and Anthony Lembke                                                     Oct 13                   13                                                                               Feb 11 - Oct 11

   OCP DEBT OPPORTUNITY INTERNATIONAL LTD                       30 Jun 01         Q      $316M         272.67    31 Oct   0.89%   8.28%     9.21%     -1.39%      10.32%        8.46%    6.49%        (24.14%)
   Onex Credit Partners                                                                  Sep 13                    13                                                                               Jun 07 - Dec 08

   ONE WILLIAM STREET CAPITAL FUND                              31 Mar 08       Y/Q      $1'945M      1,753.60   31 Oct   0.80%   4.84%     18.98%    -4.19%      18.8%        10.57%    6.12%         (8.43%)
   OWS Capital Management                                                                 Nov 13                   13                                                                               Feb 11 - Nov 11

   RAVEN ROCK CREDIT OFFSHORE FUND LTD                          31 Aug 09         M       $121M        160.23    31 Oct   2.36%   5.13%     8.46%     6.53%       18.82%       11.97%    5.20%         (3.76%)
   Nate Brown, Guy Caplan, Bobby Richardson                                               Oct 13                   13                                                                               Jul 11 - Sep 11

   TILDEN PARK OFFSHORE INVESTMENT FUND LTD                     31 Dec 10         Q      $1'362M       184.81    31 Oct   1.95%   18.79%    41.34%    10.07%        -          24.18%    5.57%         (0.90%)
   Josh Birnbaum                                                                          Oct 13                   13                                                                               Sep 11 - Oct 11




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                          HSBC Alternative Investment Group            |      16
Source - HSBC
                                                              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. 2013   11.97%
                                                                                                                                Ytd Avg. 2013
Distressed Security/Europe                                                                                                         10.99%
   KING STREET EUROPE LTD CLASS A                               30 Jun 07        Q       $800M         168.85     22 Nov   0.22% 10.99%       10.98%    -4.82%     7.94%        8.52%    6.60%         (8.56%)
   O. Francis Biondi, Jr., Brian J. Higgins                                              Sep 13                     13                                                                              May 11 - Nov 11
                                                                                                                                Ytd Avg. 2013
Distressed Security/Global                                                                                                         12.21%
   CANDLEWOOD SPECIAL SITUATIONS FUND LTD                       30 Apr 03        Q       $191M         779.22     22 Nov   0.80% 11.52%       14.78%    3.88%     11.54%       21.43%    11.37%       (28.11%)
   Michael Lau and David Koenig                                                          Oct 13                     13                                                                              May 08 - Nov 08

   CANYON VALUE REALIZATION FD, LTD - CLASS A                   31 Dec 94        Q      $5'869M       7,361.35    08 Nov (0.06%)     13.51%    18.05%   -4.66%    14.66%       11.16%    8.44%        (28.82%)
   M.R. Julis & J.S. Friedman                                                            Oct 13                     13                                                                              Oct 07 - Nov 08

   CERBERUS INTL. LTD CLASS A A/C 191                           31 May 93        Q       $971M       794,563.74   31 Oct   0.88%     3.10%     12.05%    9.6%     10.32%       10.68%    5.42%        (22.26%)
   Steve Feinberg                                                                        Aug 13                     13                                                                              May 08 - Feb 09

   CONTRARIAN CAPITAL FUND I OFFSHORE LTD                       30 Sep 86        Y      $2'797M       2,513.96    31 Oct   2.26%     13.49%    24.31%   -1.32%    12.38%       12.63%    9.69%        (33.22%)
   Jon Bauer                                                                             Oct 13                     13                                                                              Jun 07 - Feb 09

   DAVIDSON KEMPNER DIST. OPP. INT. LTD - CLASS C               31 Mar 05        Y       $876M        2,423.80    31 Oct   2.21%     18.29%    13.51%   -2.45%    10.16%       10.85%    9.98%        (26.27%)
   TRN 1 -                                                                               Sep 13                     13                                                                              Oct 07 - Nov 08
   Anthony A. Yoseloff, Avi Z. Friedman and Conor Bastable
   KING STREET CAPITAL, LTD                                     31 Dec 96        Q      $11'000M       594.57     22 Nov   0.59%     10.52%    12.52%   -1.62%     5.41%       11.12%    4.07%         (5.21%)
   O. Francis Biondi Jr & Brian J. Higgins                                               Sep 13                     13                                                                              May 11 - Nov 11

   LC CAPITAL OFFSHORE FUND, LTD                                30 Sep 99      Y/Q       $118M         352.26     31 Oct   (0.64%)   (5.33%)   9.61%    0.25%     14.51%        9.34%    8.72%        (34.48%)
   Steven G Lampe & Richard F Conway                                                     Sep 13                     13                                                                              Jun 07 - Feb 09

   MONARCH DEBT RECOVERY FUND LTD                               31 Mar 02        Y      $1'360M       3,735.06    31 Oct   1.20%     14.76%    12.08%   -0.45%    25.65%       12.04%    8.10%        (33.02%)
   Michael Weinstock, Andrew Herenstein                                                  Aug 13                     13                                                                              Oct 07 - Dec 08

   MUDRICK DISTRESSED OPPORTUNITY FUND LTD                      30 Jun 09        Q       $475M         163.69     31 Oct   0.70%     8.76%     21.85%   -3.72%    11.42%       12.02%    5.80%         (8.55%)
   Jason Mudrick                                                                         Oct 13                     13                                                                              Mar 11 - Sep 11

   OWS CREDIT OPPORTUNITY FUND                                  31 Dec 10       Y/Q      $372M        1,327.49    31 Oct   1.00%     10.28%    23.41%   -2.46%       -         10.50%    5.29%         (7.86%)
   OWS Capital Management                                                                Nov 13                     13                                                                              Apr 11 - Oct 11

   PAULSON CREDIT OPPORTUNITIES LTD                             30 Jun 06        Y      $5'388M       1,600.60    31 Oct   1.81%     15.48%    8.87%    -18.24%   18.78%       45.89%    42.18%       (24.80%)
   John Paulson                                                                          Feb 13                     13                                                                              Apr 11 - Sep 11

   SILVER POINT CAPITAL OFFSHORE LTD                            31 Dec 01        Q      $5'111M       4,314.93    15 Nov (0.41%)     13.90%    20.04%   4.52%     19.42%       13.09%    8.47%        (35.48%)
   Edward Mulé                                                                           Jun 13                     13                                                                              Jun 07 - Dec 08

   STONE LION FUND LTD CLASS A                                  31 Oct 08        Q       $620M        2,207.85    31 Oct   1.08%     12.72%    11.31%   0.05%      9.25%       17.15%    8.70%         (8.74%)
   Greg Hanley and Alan Mintz                                                            Dec 12                     13                                                                              Apr 11 - Sep 11

   STRATEGIC VALUE RESTRUCTURING FUND                           31 Aug 02       Q/Y     $1'159M        332.20     22 Nov   0.04%     14.82%    13.18%   -11.03%   13.12%       11.28%    7.67%        (24.47%)
   Victor Khosla                                                                         Dec 12                     13                                                                              May 07 - Jan 09



1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                         HSBC Alternative Investment Group             |      17
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012      2011     2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                       Drawdown1
                                                                                                                               Ytd Avg. 2013
Distressed Security/Global                                                                                                        12.21%
   VR GLOBAL OFFSHORE FUND LTD                                  30 Apr 99         Q      $1'442M     34,632.28   31 Oct   5.76% 27.37%       20.69%   3.58%    58.35%       27.66%    15.13%       (48.38%)
   Richard Deitz                                                                          Sep 13                   13                                                                            May 08 - Mar 09
                                                                                                                               Ytd Avg. 2013
Distressed Security/USA                                                                                                           11.30%
   BEACH POINT TOTAL RETURN OFFSHORE FUND II,                   30 Jun 96         Q      $1'700M       616.76    21 Nov   0.05% 10.45%       13.86%   -0.98%    13%         11.02%    8.19%        (24.04%)
   LTD                                                                                    Jul 13                   13                                                                            Oct 07 - Dec 08
   Carl Goldsmith, Scott Klein,
   BTG PACTUAL DISTRESSED MORTGAGE FUND                         28 Feb 10         Q       $171M       1,875.76   31 Oct   1.40%   14.49%    46.16%    -4.65%   17.56%       18.67%    9.01%        (13.21%)
   BTG Pactual Global Asset Management                                                    Oct 13                   13                                                                            Apr 11 - Dec 11

   HALCYON OFF. ASSET-BACKED VALUE FUND LTD                     30 Nov 05         Q      $2'482M      2,725.34   15 Nov   0.31%   6.43%     16.14%    4.12%    25.33%       13.41%    5.59%        (13.32%)
   Joseph Wolnick ,Joseph Godley and Jim Coppola                                          Oct 13                   13                                                                            Aug 08 - Mar 09

   REDWOOD OFFSHORE FUND                                         31 Jul 00        Y      $3'022M       687.09    31 Oct   2.37%   13.84%    21.94%    -1.98%   23.48%       15.64%    10.91%       (36.28%)
   Jonathan Kolatch                                                                       Oct 13                   13                                                                            May 07 - Dec 08




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                      HSBC Alternative Investment Group             |    18
Source - HSBC
                                                              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. 2013   13.29%
                                                                                                                                Ytd Avg. 2013
Equity-Commodity/Global                                                                                                            13.29%
   DUNN WMA UCITS                                               31 Aug 11         D       $347M         91.69     15 Nov   4.05% 20.41%       -20.22%    -4.56%                 (3.85%)   22.94%       (27.87%)
   Wiliam Dunn, Marty Bergin                                                              Apr 13                    13                                                                               Aug 11 - Oct 12

   OCEANIC HEDGE FUND - CLASS A                                  31 Jul 02        M      $843M         3,461.11   22 Nov   1.31%     19.37%    -7.73%    5.24%      -0.5%       11.59%    8.21%        (12.78%)
   Cato Brahde, Andreas Vergottis, Bjorn Rise                                            Sep 13                     13                                                                               Nov 11 - Jul 12

   VAN ECK HARD ASSETS 2X FUND LTD                              31 Dec 04         M       $19M          190.93    31 Oct   1.97%     0.10%    11.04%     -13.4%     10.2%        7.59%    10.65%       (22.23%)
   Shawn Reynolds and Charles Cameron                                                     Apr 13                    13                                                                               Jun 08 - Nov 08

Equity-Diversified
Ytd Avg. 2013   15.02%
                                                                                                                                 Ytd Avg. 2013
Equity-Diversified/Asia                                                                                                             11.75%
   AJIA-LIGHTHORSE CHINA GROWTH FUND LTD                        31 Dec 05         M       $137M         369.04    31 Oct   (5.58%) 15.49%      -14.51%   -12.64%   22.79%       18.12%    20.88%       (41.06%)
   Shawn Kang                                                                             Oct 13                    13                                                                               Feb 08 - Dec 08

   CC ASIA ABSOLUTE RETURN FUND                                 30 Jun 05         M       $504M         243.30    31 Oct   3.35%     9.70%     -2.03%    9.08%     21.14%       11.25%    14.77%       (27.12%)
   Richard Cardiff, Angus Coupland                                                        Oct 13                    13                                                                               Dec 07 - Dec 08

   CHILTON CHINA OPPORTUNITIES FUND LTD                         31 Dec 06         Q        $21M         202.71    22 Nov   1.71%     14.67%    6.63%     -23.21%    0.42%       10.78%    17.02%       (26.16%)
   Kenneth Chiang                                                                         Jan 13                    13                                                                               Oct 10 - Aug 12

   EVEREST CAPITAL ASIA                                         31 Dec 05         Q       $145M         200.97    31 Oct   1.70%     4.82%     0.06%     -12.54%    6.72%        9.31%    19.49%       (43.59%)
   Marko Dimitrijevic                                                                     Oct 13                    13                                                                               Oct 07 - Feb 09

   HT ASIAN CATALYST FUND LLC                                   31 Dec 98         M       $160M         19.59     31 Oct   2.83%     3.10%     9.51%     -10.29%    4.43%       10.47%    11.51%       (23.93%)
   Ms. Ophelia Tong                                                                       Oct 13                    13                                                                               Mar 00 - Mar 01

   JOHO FUND, LTD-A-                                            31 Oct 96         S      $2'575 M      1,865.01   22 Nov   2.95%     29.59%    8.83%     0.38%      17.9%       20.26%    15.81%       (19.38%)
   Robert Karr                                                                            Sep 13                    13                                                                               Nov 07 - Nov 08

   KIMA PAN ASIA OFFSHORE FUND - CLASS -A-                      30 Jun 09         M       $23M         1,255.24   31 Oct   (0.50%)   7.25%     -1.58%    -5.39%    11.77%        5.38%    8.24%        (17.30%)
   Justin Klintberg, David Nesbitt                                                       Sep 13                     13                                                                               May 11 - Aug 12

   NEZU CYCLICALS FUND LTD                                       31 Jul 05        Q       $152M         223.99    22 Nov   1.57%     22.72%    -6.58%    -5.09%     7.53%       10.18%    12.96%       (25.06%)
   Fuyuki Fujiwara                                                                        Oct 13                    13                                                                               Oct 07 - Feb 09

   OCTAGON PAN ASIA FUND                                        30 Sep 04         M       $135M         219.15    31 Oct   0.25%     5.00%     11.8%     -6.07%    -2.68%        9.01%    8.87%        (10.69%)
   Poh Min Lam & Nelson Chia                                                              Oct 13                    13                                                                               Oct 07 - Jan 09

   PINPOINT CHINA FUND CLASS A USD                              31 May 05         M      $534M          729.42    15 Nov   0.57%     7.41%     8.06%      0.6%      5.87%       26.45%    20.84%       (42.16%)
   Qiang Wang                                                                            Sep 13                     13                                                                               Oct 07 - Nov 08

   REAL RETURN ASIAN FUND LTD (THE)                             30 Sep 04         M      $495M          272.91    22 Nov (0.94%)     9.23%     9.02%     -9.19%     5.75%       11.60%    9.95%        (15.09%)
   Ezra Sun                                                                              Sep 13                     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             |     19
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012      2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                        Drawdown1
                                                                                                                               Ytd Avg. 2013
Equity-Diversified/Asia                                                                                                           11.75%
   TELLIGENT GREATER CHINA FUND                                  31 Jul 04        M      $274M         360.48    31 Oct   3.81% 21.01%       10.76%   -17.35%   12.73%       14.86%    18.79%       (46.90%)
   Ching-Shan Lin                                                                        Sep 13                    13                                                                             Oct 07 - Oct 08

   WF ASIA FUND LTD S/1                                         31 Jan 01         M       $387M        399.20    22 Nov (1.41%)   11.10%    27.68%    -7.21%    -1.28%       11.41%    13.20%       (37.65%)
   Scobie Ward                                                                            Oct 13                   13                                                                             Oct 07 - Nov 08

   ZEAL CHINA FUND LIMITED                                      31 Dec 09         M       $665M        145.28    22 Nov (0.54%) 3.42%        12.9%    6.18%     17.18%       10.06%    14.81%       (13.00%)
   Daniel POON Chun Pong                                                                  Oct 13                   13                                                                             Dec 09 - Feb 10
                                                                                                                              Ytd Avg. 2013
Equity-Diversified/Brazil                                                                                                         6.84%
   BNY MELLON ARX BRAZIL FUND SPC LONG SHORT                    31 Jan 07         M       $56M        1,772.15   22 Nov (1.30%) 6.84%       11.03%    3.58%      11.7%        8.76%    8.92%        (23.95%)
   Bruno Garcia, Frederico Saraiva & Rogerio Poppe                                       Sep 13                    13                                                                             Jun 08 - Oct 08
                                                                                                                              Ytd Avg. 2013
Equity-Diversified/Emerging                                                                                                       9.88%
   ADELPHI EMERGING EUROPE. FUND USD SHARES                     31 Mar 07         Q      $170M         156.90    22 Nov (0.32%) 19.31%      -2.13%    -15.92%   17.01%        7.01%    13.30%       (28.62%)
   Lars Dollmann                                                                         Feb 13                    13                                                                             May 08 - Jan 09

   ARMAJARO EMERGING MARKETS FUND CLASS -A-                      31 Jul 09        M      $45M          134.25    22 Nov   0.11%   7.74%     17.35%    -22.31%   18.17%        7.06%    14.52%       (28.30%)
   Michel Danechi                                                                        May 13                    13                                                                             Apr 11 - Dec 11

   EVEREST CAPITAL FRONTIER MARKETS                              31 Jul 08        Q       $400M        155.76    31 Oct   1.30%   19.10%    17.3%     -18.38%   30.64%        8.80%    15.01%       (25.56%)
   Marko Dimitrijevic                                                                     Oct 13                   13                                                                             Jul 08 - Feb 09

   FIREBIRD NEW RUSSIA FUND, LTD - CLASS A                      30 Jun 96         Q       $155M       2,335.62   15 Nov (0.23%)   (1.37%)   11.42%    -14.62%   40.35%       19.87%    39.60%       (81.79%)
   Harvey Sawikin & Ian Hague                                                             Oct 13                   13                                                                             Mar 98 - Sep 98

   FIREBIRD REPUBLICS FUND, LTD                                 30 Apr 97         Q      $183M        1,089.74   31 Oct   1.89%   17.39%    13.26%    -19.42%   29.51%       15.56%    30.59%       (73.20%)
   Harvey Sawikin & Ian Hague                                                            Sep 13                    13                                                                             Sep 97 - Jan 99

   GROWTH MANAGEMENT LTD                                        31 May 98         M      $159M         355.20    31 Oct   0.35%   2.82%     -6.37%    -6.15%     1.08%        8.56%    7.12%        (33.23%)
   Stephan Pinter                                                                        Sep 13                    13                                                                             Jun 08 - Jul 12

   JABCAP EMEA FUND CLASS X1                                    30 Sep 08         M      $267M         222.02    15 Nov (0.11%)   7.99%     6.94%      -3.2%    13.59%       16.82%    10.52%       (10.02%)
   Carl Tohme                                                                            May 13                    13                                                                             Apr 11 - May 12

   KALTCHUGA FUND - RUSSIA EQ. SUB-FUND -$-                     15 Nov 00        BM        $59M       8,553.87   22 Nov (1.39%)   7.36%     12.91%    -20.88%   27.69%       17.91%    34.09%       (81.80%)
   J-L. Tauvy                                                                             Jun 13                   13                                                                             Dec 07 - Jan 09

   OCCO EASTERN EUROPEAN FUND A SHARES                          31 Dec 01       Y/Q      $648M         389.62    22 Nov   1.03%   9.86%     7.73%     5.42%     11.17%       13.21%    7.70%        (20.86%)
   Pawel Szulc & Andrew Wiles                                                            Nov 13                    13                                                                             Jun 08 - Oct 08

   POLLUX BRAZILIAN EQUITIES FUND                               31 Oct 07         M       $46M         149.78    22 Nov (0.48%)   (3.14%)   13.12%    0.39%     -2.62%        6.89%    8.02%         (9.59%)
   Rodrigo Fonseca                                                                        Jun 13                   13                                                                             May 08 - Oct 08

   SKYLINE UCITS FUND INSTITUTIONAL SHARE CLASS                  31 Jul 11        D      $119M         142.42    15 Nov (0.55%)   9.96%      25%      3.62%                  16.65%    9.83%         (7.10%)
   Geoff Bamber, David Tovar,                                                            May 13                    13                                                                             Apr 12 - May 12

   SR GLOBAL FUND INC - G - GLOBAL OPPORTUNITIES 29 Feb 96                        M      $450M        1,301.19   15 Nov   0.10%   14.64%    -0.88%    -17.2%     2.67%       19.17%    18.05%       (37.25%)
   PTF (Real Perf)                                                                       Sep 13                    13                                                                             Oct 07 - Feb 09
   Richard Chenevix-Trench


1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                       HSBC Alternative Investment Group             |      20
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD     YTD      2012      2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                       Drawdown1
                                                                                                                              Ytd Avg. 2013
Equity-Diversified/Emerging                                                                                                       9.88%
   SR PHOENICIA INC CLASS -A- SERIES 1                           31 Jul 01        M      $140M         468.18    15 Nov (0.07%) 16.73%       8.13%   -20.97%   -1.87%       13.37%    18.36%       (56.02%)
   Richard Atherton                                                                      Sep 13                    13                                                                            Oct 07 - Feb 09
                                                                                                                              Ytd Avg. 2013
Equity-Diversified/Europe                                                                                                        12.69%
   ADELPHI EUR. FUND $ (A)                                      30 Sep 97         Q      $1'139M       458.17    22 Nov 0.66% 13.63%        14.08%   -4.91%     9.15%        9.88%    11.70%       (26.28%)
   Roderick Jack, Marcel Jongen                                                           Feb 13                   13                                                                            May 07 - Feb 09

   ADRIGO HEDGE                                                 30 Nov 06         M       $121M        157.80    31 Oct   1.90%   11.35%    5.91%    -0.17%     7.42%        6.81%    5.45%         (9.13%)
   Göran Tornée                                                                           Oct 13                   13                                                                            May 07 - Oct 08

   ANTARES EUROPEAN FUND, LTD - USD                             08 Dec 98         M      $500M         521.66    22 Nov   1.00%   22.40%    1.7%     -10.75%   28.25%       11.67%    15.28%       (32.68%)
   Peter Miles Testa, Luca Orsini Baroni                                                 Dec 11                    13                                                                            Jun 07 - Dec 08

   AQUILUS INFLECTION FUND LTD EUR SHS                           31 Jul 07        M       €268M        124.20    31 Oct   1.36%   11.99%   18.73%    -14.14%    22.2%        3.52%    9.15%        (22.46%)
   Richard Vogel                                                                          Oct 13                   13                                                                            Oct 07 - Oct 08

   CAPEVIEW AZRI 2X FUND                                        30 Sep 10         M       $200M        149.39    22 Nov   0.55%   19.42%   12.65%    4.31%      6.47%       13.60%    5.82%         (2.74%)
   Michael Sakkas and Sushil Shah                                                         Oct 13                   13                                                                            Jan 11 - Jul 11

   CAPEVIEW AZRI FUND                                           31 Oct 07         M       $244M        166.89    22 Nov   0.23%   9.06%     5.82%    1.29%     12.75%        8.81%    3.54%         (1.94%)
   Michael Sakkas and Sushil Shah                                                         Oct 13                   13                                                                            Jan 11 - Jul 11

   CAZENOVE EURO EQ ABS RETURN FUND LIMITED                     30 Nov 03         M       €55M        1,889.31   31 Oct   4.27%   13.87%   16.68%    -0.65%    -12.06%       6.62%    5.99%        (17.67%)
   CLASS B                                                                                Oct 13                   13                                                                            Oct 08 - Aug 11
   Steve Cordell
   EGERTON EUROPEAN EQUITY FUND LTD CLASS B1                    31 Aug 94         M      $934M         72.20     22 Nov   1.53%   23.76%   13.65%    -4.94%    15.76%       15.03%    9.95%        (28.26%)
   EUR                                                                                   Aug 13                    13                                                                            Oct 07 - Jan 09
   John C. Armitage
   GLG EUROPEAN LONG SHORT FUND CL-D- Inst                      30 Sep 00         M      $811M         327.56    22 Nov (0.12%)   5.35%     5.75%      7%       8.25%        9.44%    8.10%        (17.94%)
   Pierre Lagrange, Simon Savage, Darren Hodges                                          Sep 13                    13                                                                            Oct 07 - Oct 08

   HABROK LTD                                                   31 Mar 04         Q       $391M        283.38    31 Oct   4.00%   12.01%    6.85%    -9.66%    11.59%       11.47%    15.19%       (38.55%)
   Leif Christian Kvaal                                                                   Oct 13                   13                                                                            May 08 - Jan 09

   JPMORGAN PORT. STRAT. FUNDS-EUROPE                           30 Sep 03         M       $190M        409.37    22 Nov   1.18%   11.89%   -4.72%    10.2%     28.88%       14.89%    8.51%        (16.39%)
   DYNAMIC L/S FUND-A10-03                                                                Oct 13                   13                                                                            Jun 08 - Nov 09
   Jonathan Ingram, John Baker, Anis Lahlou-Abid
   LANSDOWNE EUROPEAN EQUITY FD, LTD - A (EUR)                  31 Aug 98         M      $353M         201.17    22 Nov (0.92%)   13.76%    4.56%    -12.68%    5.4%         9.41%    11.67%       (21.60%)
   Alex Snow & S. Heinz                                                                  Sep 13                    13                                                                            May 08 - Feb 09

   MARSHALL WACE - MW CORE A USD                                31 Oct 06         M      $1'331M       139.98    26 Nov   0.26%   6.00%     8.72%    5.65%      2.79%        4.87%    8.99%        (26.47%)
   Ernesto Fragomeni                                                                      Jun 13                   13                                                                            Jun 07 - Sep 08

   MARSHALL WACE - MW EUROPEAN TOPS A EUR                       31 Dec 04         M       $823M        198.27    26 Nov   0.71%   13.07%   11.31%    4.29%     -0.13%        7.99%    7.83%        (21.75%)
   Anthony Clake                                                                          Jan 13                   13                                                                            Oct 07 - Feb 09

   MARTIN CURRIE EUROPEAN HEDGE FUND CLASS                      31 Dec 00         M       $165M        300.70    25 Nov   0.54%   19.53%   13.51%    -8.53%     3.31%        7.62%    7.54%        (11.03%)
   -B-                                                                                    Oct 13                   13                                                                            Jun 08 - Feb 09
   Michael Browne & Steve Frost

1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                      HSBC Alternative Investment Group             |      21
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012     2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                       Drawdown1
                                                                                                                               Ytd Avg. 2013
Equity-Diversified/Europe                                                                                                         12.69%
   MBAM ACTIVE LONG SHORT                                        31 Jul 10        M       $523M        117.81    22 Nov   1.28%    4.66%     3.61%   0.08%      8.56%        5.07%    3.36%         (2.19%)
   Hilton Nathanson                                                                       Aug 13                   13                                                                            May 12 - Jul 12

   MLIS - THEOREMA EUROPEAN EQUITY LONG SHORT 31 May 10                           D       €106M        113.99    26 Nov   1.06%   5.82%     4.37%    -0.27%     3.49%        3.82%    7.52%        (12.02%)
   UCITS FUND - EUR B (acc)                                                               Sep 13                   13                                                                            Sep 11 - Jul 12
   Theorema Asset Management Limited
   MOJNA ALPHA LEVERAGED MASTER FUND - EUR                      30 Nov 07         M       $245M        164.71    22 Nov   1.28%   11.06%    -4.33%   5.58%     22.25%        8.70%    5.95%         (6.96%)
   Jakob Nordestedt, Michael O’Mara                                                       Mar 13                   13                                                                            Feb 12 - Jul 12

   MOJNA ALPHA MASTER FUND - EUR                                31 Dec 02         M       $281M        172.52    15 Nov   0.07%   3.35%     -2.69%   1.39%      7.63%        5.14%    2.59%         (3.27%)
   Jakob Nordestedt, & Michael O'Mara                                                     Mar 13                   13                                                                            Feb 12 - Jul 12

   NORDIC ALPHA CLASS B - NOK                                   31 Aug 03         M      NOK770M       216.60    31 Oct   3.83%   20.94%    12.14%   -14.91%    13.7%        7.90%    11.30%       (32.36%)
   Thomas Raaschou, Christian T. Nygaard                                                  Sep 13                   13                                                                            Dec 07 - Feb 09

   ODEY EUROPEAN, INC (EUR)                                     31 May 92         W      €1'601M       868.54    14 Nov   1.44%   19.98%    30.69%   -20.56%   -0.06%       14.10%    16.05%       (50.64%)
   Crispin Odey                                                                           Oct 13                   13                                                                            Jan 94 - Jul 95

   PELHAM LONG/SHORT FUND LTD CLASS A EUR                       31 Oct 07         M      $1'592M       181.78    31 Oct   4.85%   28.77%    16.89%   -10.68%   13.54%       10.46%    10.93%       (12.25%)
   Ross Turner                                                                            Sep 13                   13                                                                            May 08 - Dec 08

   PENSATO EUROPA FUND LTD EURO CLASS                           31 May 08         M       €140M        133.15    31 Oct   0.60%   2.23%     11.22%   -0.28%     1.99%        5.42%    5.79%         (5.40%)
   Graham Clapp & Edward Rumble                                                           Sep 13                   13                                                                            Jun 08 - Sep 08

   POLAR CAPITAL EUROP CONVICTION FUND LIMITED                  31 Mar 06         M       €126M        159.66    22 Nov   0.83%   1.68%     8.07%    6.45%     -0.18%        6.31%    8.53%         (5.84%)
   Robert Gurner                                                                          May 13                   13                                                                            May 11 - Aug 11

   RBR EUROPEAN LONG SHORT LTD (Ex Rhine Alpha                  30 Apr 05         M       $90M        2,619.50   22 Nov   0.20%   16.99%    29.45%   -11.71%    24.3%       11.90%    19.18%       (55.01%)
   Stars)                                                                                 May 13                   13                                                                            Jun 07 - Nov 08
   Rudolf Bohli
   RWC SAMSARA FUND CLASS A EURO                                17 Sep 07         M       $92M         139.58    22 Nov (0.60%)   16.54%    2.97%    -0.85%    11.28%        5.54%    8.10%        (11.60%)
   Ajay Gambhir                                                                           Oct 13                   13                                                                            Jun 11 - May 12

   SIERRA EUROPE OFFSHORE, LTD - CLASS C USD                    28 Feb 97         M       $89M         513.64    22 Nov (0.71%)   3.19%     11.82%   4.88%     -3.08%       10.27%    8.98%        (16.98%)
   Charles Michaels                                                                       Oct 13                   13                                                                            Mar 00 - Jan 03

   SUSA EUROPEAN EQUITIES FUND CLASS A NIE EUR                  28 Feb 09         M       $138M        172.53    22 Nov   1.50%   15.84%    15.22%   -10.33%   14.74%       12.21%    11.66%       (16.04%)
   Reza Amiri                                                                             Oct 13                   13                                                                            May 11 - Sep 11

   THEOREMA EUROPE FUND PLUS LTD B/1 USD                        31 Aug 04         M        $20M        264.32    22 Nov   0.68%   7.17%      5.6%    -0.29%     2.48%       11.10%    12.02%       (15.14%)
   G. Govi                                                                                Jan 13                   13                                                                            Sep 11 - Jul 12

   THREE BRIDGES EUROPE MASTER FUND                             31 Aug 06         M       $524M        166.06    31 Oct   5.40%   20.31%    4.57%    -7.58%    16.45%        7.33%    8.30%        (11.88%)
   Gene Salamon                                                                           Oct 13                   13                                                                            Jun 08 - Oct 08

   TT MID-CAP EUROPE LONG/SHORT FUND LTD - CL B                 30 Apr 05         M       $732M        269.48    31 Oct   2.19%   11.34%     6.9%    -1.72%     11.5%       12.36%    8.84%         (7.41%)
   David Grimbley                                                                         Aug 13                   13                                                                            Apr 06 - Sep 06

   ZADIG FUND CLASS A1                                          30 Nov 05         M       €331M        228.95    22 Nov (0.43%)   9.11%     11.02%   3.56%      1.78%       10.93%    11.43%       (19.14%)
   Laurent Saglio                                                                         Jul 13                   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             |      22
Source - HSBC
                                                              Inception      Liquidity   Asset      Last NAV or   Date     MTD     YTD       2012      2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size          Index                                                                                        Drawdown1
                                                                                                                                Ytd Avg. 2013
Equity-Diversified/Global                                                                                                          14.29%
   ANAVON MASTER FUND LTD CLASS -B-                             31 Dec 10         M       $72M          124.92    31 Oct   1.70%    5.44%     12.62%   5.19%        -          8.16%    7.37%         (8.57%)
   Avi Fruchter and Avraham Mevorah                                                       Oct 13                    13                                                                             Jul 11 - Sep 11

   BEACONLIGHT OFFSHORE FUND LTD                                31 Dec 09         Q       $59M          129.95    15 Nov   2.82%   17.99%     6.8%     -5.78%     9.44%        6.99%    9.17%        (15.02%)
   Ed Bosek                                                                               Oct 13                    13                                                                             Mar 11 - Sep 11

   BROOKFIELD GLOBAL LISTED INFRASTRUCTURE                      30 Apr 08         M       $330M         200.89    31 Oct   2.63%   9.20%     16.99%    5.17%     17.13%       13.50%    13.89%       (22.19%)
   SEC. OFFSHORE FUND                                                                     Oct 13                    13                                                                             Apr 08 - Nov 08
   Brookfield Investment Management Inc.
   DUET GLOBAL FUND PLUS                                         31 Jul 10        M      $1'400M        131.42    31 Oct   0.64%   3.20%     11.05%    8.05%      6.14%        8.76%    3.30%         (0.87%)
   Jason McNab                                                                            Nov 13                    13                                                                             Jun 11 - Aug 11

   EGERTON EUROPEAN DOLLAR CLASS -B1-                           30 Nov 94         M      $2'048M        145.06    22 Nov   1.62%   22.93%    13.67%    -4.92%    15.79%       15.41%    10.15%       (29.28%)
   John C. Armitage                                                                       Sep 13                    13                                                                             Oct 07 - Jan 09

   EXANE TEMPLIERS FUND                                         28 Feb 06         W       €277M       17,546.55   26 Nov   1.27%   1.30%     0.77%     0.49%      2.31%        5.48%    3.12%         (2.89%)
   Jean-Francois Roussel, Stéphane Arrouays, Henri-Daniel                                 Jun 13                    13                                                                             Apr 11 - May 12
   Samama, Exane Asset Management
   FARRINGDON ALPHA ONE                                         31 Dec 06         M      $250M          180.01    22 Nov   1.68%   11.43%    19.44%    -12.63%    0.56%        8.89%    11.71%       (16.50%)
   Bram Cornelisse, Andreas Tholstrup, Dennis van Wees                                   Sep 13                     13                                                                             May 08 - Oct 08

   GLADE BROOK GLOBAL OFFSHORE FUND LTD                         30 Sep 11         Q       $336M        1,204.56   22 Nov   0.50%   14.23%    13.1%     -6.77%                  9.05%    6.98%         (6.77%)
   CLASS-A- NR-                                                                           Oct 13                    13                                                                             Sep 11 - Dec 11
   Paul Hudson
   HORSEMAN GLOBAL FUND USD                                     31 Jan 01         M      $152M          521.58    27 Nov   3.43%   18.27%    16.28%    -2.98%     5.44%       13.74%    16.18%       (33.75%)
   Russell Clark                                                                         Sep 13                     13                                                                             Feb 09 - Jun 10

   KINSALE COMPASS FUND                                         31 Oct 11         M       €135M         134.58    31 Oct   1.73%   13.25%    16.75%    1.79%                  15.99%    4.01%         (2.10%)
   Peter A Kinney                                                                         Oct 13                    13                                                                             Apr 12 - May 12

   LANSDOWNE DEVELOPED MARKET FUND, LTD (GBP)                    31 Jul 01        M      $7'048M        585.35    22 Nov   1.66%   28.95%    17.87%    -20.07%    8.78%       15.42%    10.76%       (20.07%)
   Alex Snow & S. Heinz                                                                   Sep 13                    13                                                                             Dec 10 - Dec 11

   LAZARD GLOBAL HEXAGON FUND                                   31 May 10         M       $180M         125.92    22 Nov   0.21%   8.94%     13.45%    -2.08%     3.01%        6.53%    4.94%         (7.43%)
   Jean-Daniel Malan                                                                      Oct 13                    13                                                                             May 11 - Sep 11

   M. KINGDON OFFSHORE NV - A/1                                 28 Feb 86         Q      $1'337M        148.05    22 Nov   1.94%   20.25%    11.78%    -18.03%    8.5%        15.08%    12.77%       (30.15%)
   Mark Kingdon                                                                           Oct 13                    13                                                                             Sep 87 - Oct 87

   MARSHALL WACE - MW EUREKA A1 EUR                             07 Jan 98         M      $3'876M        379.29    26 Nov   1.41%   17.52%    7.45%     9.74%      7.91%       13.44%    9.18%        (23.24%)
   Paul Marshall                                                                          Jul 13                    13                                                                             Oct 07 - Oct 08

   MARSHALL WACE - MW GLOBAL OPPORTUNITIES A                    28 Feb 09         M      $1'314 M       219.46    26 Nov   0.98%   11.42%    6.83%     27.16%     8.04%       18.01%    10.05%        (4.94%)
   USD                                                                                    Jul 13                    13                                                                             Nov 11 - Jan 12
   Fehim Sever
   MAVERICK FUND, LTD - CLASS A/1                               28 Feb 95         M      $2'670M       1,299.75   22 Nov   1.29%   12.68%    15.46%    -14.85%   11.38%       12.18%    11.54%       (30.04%)
   Lee Ainslie III                                                                        Mar 13                    13                                                                             May 08 - Nov 08




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                        HSBC Alternative Investment Group             |      23
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD       YTD      2012      2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                         Drawdown1
                                                                                                                               Ytd Avg. 2013
Equity-Diversified/Global                                                                                                         14.29%
   MS ASCEND UCITS FUND CLASS I EUR                             30 Apr 11         W       $126M       1,020.64   26 Nov   1.44%    9.97%     -0.14%    -7.06%                  0.79%    4.15%         (7.23%)
   Malcolm Fairbairn                                                                      Jul 13                   13                                                                              May 11 - Dec 12

   NEVSKY FUND PLC (COMPOSITE)                                  30 Sep 00         M       $999M       1,276.23   15 Nov   1.38%     13.82%   14.61%    0.62%     10.27%       21.40%    14.19%       (22.14%)
   Martin Taylor and Nick Barnes                                                          Apr 13                   13                                                                              Oct 07 - Feb 09

   PASSPORT GLOBAL STRATEGY FUND                                 31 Jul 00        Q      $1'300M       950.73    31 Oct   (2.20%)   16.19%   11.08%    -18.74%   18.26%       18.51%    26.81%       (52.74%)
   John Burbank                                                                           Sep 13                   13                                                                              Jun 08 - Dec 08

   PASSPORT LONG SHORT STRATEGY FUND                            30 Jun 10         M      $622M         136.41    31 Oct   (0.10%)   15.70%   12.13%    -7.19%    13.28%        9.74%    8.71%        (10.06%)
   John Burbank, Tim Garry                                                               Sep 13                    13                                                                              Apr 11 - Dec 11

   PLATINUM FUND LTD                                            31 May 94         M      $524M         87.54     22 Nov   0.34%     17.82%   17.44%    -13.51%    5.19%       11.77%    12.29%       (30.48%)
   Kerr Neilson                                                                          Sep 13                    13                                                                              Oct 07 - Feb 09

   SR GLOBAL FUND C - INTERNATIONAL (Real Perf)                 31 Dec 93         M      $580M         568.48    15 Nov   4.80%     26.41%    1.03%    -24.27%   -11.82%      12.44%    21.17%       (50.10%)
   Hugh Sloane                                                                           Sep 13                    13                                                                              Apr 08 - Aug 12

   STANDARD PACIFIC CAPITAL -B-                                 30 Sep 95         Q       $301M        487.81    31 Oct   2.52%     15.15%   -4.66%    -5.24%     8.56%        9.15%    8.15%        (15.87%)
   Doug Dillard and Raj Venkatesan                                                        Oct 13                   13                                                                              Jul 11 - Nov 12

   STK CAPITAL GLOBAL EQUITIES                                  30 Nov 10         M       $109M        124.79    31 Oct   3.51%     10.84%    9.35%    -1.64%     4.67%        7.87%    7.78%         (8.80%)
   Daniel Grozdea                                                                         Oct 13                   13                                                                              Apr 11 - Sep 11
                                                                                                                                Ytd Avg. 2013
Equity-Diversified/Japan                                                                                                           24.88%
   AKAMATSU FUND                                                31 Dec 04         M       $95M         183.15    31 Oct   (0.33%) 17.44%      -3.45%   -0.85%     2.88%        7.09%    7.22%        (12.18%)
   Philip Kay                                                                            Sep 13                    13                                                                              Mar 12 - Oct 12

   ALPHAGEN HOKUTO FUND LTD - CLASS A                           31 Oct 00         M      $269M         206.10    22 Nov (0.27%)     5.91%    -1.01%    0.13%      7.8%         5.69%    4.30%         (4.80%)
   John Stewart & Robert Tull                                                            Sep 13                    13                                                                              May 11 - Aug 12

   ARCUS JAPAN FUND -JPY-                                       31 Mar 99         D        $41M      39,291.00   27 Nov   0.95%     23.63%   19.15%    -4.68%    14.32%        9.78%    15.47%       (45.94%)
   Robert Macrae                                                                          Jun 13                   13                                                                              Feb 07 - Feb 09

   HENDERSON JAPAN ABS RETURN FD, LTD                           30 Jun 00         M      $295M         258.04    22 Nov   2.94%     21.00%   -0.58%    -8.58%     9.24%        7.33%    10.02%       (19.05%)
   William Garnett and Jeremy Hall                                                       Aug 13                    13                                                                              Feb 11 - Aug 12

   MARATHON VERTEX JAPAN FD, LTD CLASS B                        31 May 03         Q       $476M       2,418.93   22 Nov   2.52%     20.34%    4.89%    0.59%     -0.21%        8.79%    8.41%        (11.76%)
   William Arah                                                                           Oct 13                   13                                                                              Jun 09 - Oct 10

   MARTIN CURRIE ARF - JAPAN FUND                               30 Jun 00         M       $187M        22.29     25 Nov   1.46%     25.76%    4.23%     -8.4%     6.63%        6.16%    8.25%        (15.76%)
   John-Paul Temperley                                                                    Oct 13                   13                                                                              Apr 10 - May 12

   SR GLOBAL FUND H - JAPAN (Real Perf)                         30 Sep 03         M      $110M         170.88    15 Nov   5.50%     53.02%   31.05%    -8.33%    -4.22%        5.76%    20.81%       (35.57%)
   Hugh Sloane, Alex Kydd                                                                Sep 13                    13                                                                              Mar 08 - Jul 10

   UMJ KOTOSHIRO FUND                                           31 Oct 08         M       $105M        175.67    31 Oct   1.36%     31.98%   17.83%    12.2%     -2.75%       11.92%    8.28%         (9.48%)
   Masahiro Koshiba                                                                       Oct 13                   13                                                                              Jul 09 - Sep 10




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                        HSBC Alternative Investment Group             |      24
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD       YTD      2012      2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                         Drawdown1
                                                                                                                              Ytd Avg. 2013
Equity-Diversified/UK                                                                                                            19.18%
   ALPHAGEN OCTANIS CLASS A                                     28 Feb 05         M      $180M         233.89    22 Nov (0.34%) 15.07%      3.87%      -0.47%     3.63%       10.21%    6.27%        (10.72%)
   Ben Wallace & Luke Newman                                                             Sep 13                    13                                                                              May 07 - Mar 08

   BLACKROCK UK EQUITY HEDGE FUND                               30 Apr 05         M      $399M         193.37    22 Nov   1.60%     4.21%    4.27%     2.48%      6.49%        8.00%    5.87%        (11.70%)
   Nigel Ridge & Imran Sattar                                                            Sep 13                    13                                                                              Jun 08 - Oct 08

   PEGASUS UCITS FUND                                           30 Sep 10         M       $100M        137.91    15 Nov (1.19%) 38.25%      -0.65%     -3.41%     3.95%       10.82%    11.52%       (10.49%)
   David Yarrow, Angus Donaldson                                                          Apr 13                   13                                                                              Jun 11 - Sep 11
                                                                                                                              Ytd Avg. 2013
Equity-Diversified/USA                                                                                                           19.88%
   AJR INTERNATIONAL (BVI), INC. - A/1                          31 Jan 93         M      $521M        1,205.18   22 Nov 0.76% 20.14%         3.85%      -6%      23.19%       12.70%    19.24%       (44.44%)
   Alexander J. Roepers                                                                  Dec 12                    13                                                                              May 08 - Dec 08

   ALLIANCE BERNSTEIN SELECT US EQUITY LONG                     30 Nov 99       Y/Q       $126M       4,387.62   26 Nov   1.82%     14.68%   6.17%     0.81%      8.13%       11.14%    7.20%         (9.98%)
   SHORT                                                                                  Oct 13                   13                                                                              May 08 - Feb 09
   Kurt Feuerman
   ALYDAR FUND LTD                                              28 Feb 03         Q      $361M         215.56    08 Nov (1.20%)     13.35%   -1.07%    -0.68%     3.16%        7.44%    4.69%         (6.49%)
   John Murphy                                                                           Dec 12                    13                                                                              Jun 11 - May 12

   ALYSHEBA FUND LIMITED                                        31 Mar 05         Q      $410M        2,791.45   31 Oct   (1.80%)   12.66%   2.83%     2.51%      5.24%       12.69%    12.87%       (25.80%)
   John A. Murphy, Philip C. Furse                                                       May 13                    13                                                                              May 08 - Nov 08

   ASCEND PARTNERS FUND II LTD - A                              31 Jan 04         Q      $478M         192.53    22 Nov   1.18%     9.23%    3.48%     -2.86%     2.94%        6.90%    4.37%         (5.23%)
   Malcolm Fairbairn                                                                     May 13                    13                                                                              Apr 11 - Dec 11

   BAY RESOURCES PARTNERS OFFSHORE FUND                          31 Jul 98        M      $2'659M      9,835.39   31 Oct   5.60%     16.95%   9.24%     -6.89%    17.35%       16.16%    16.32%       (39.02%)
   Thomas Claugus                                                                         Oct 13                   13                                                                              May 08 - Feb 09

   BCM WESTON LP                                                31 Jan 08         M       $57M         218.90    31 Oct   3.26%     41.90%   15.2%     -8.95%    20.64%       14.59%    10.45%       (13.70%)
   Billings Capital Management LLC                                                       Sep 13                    13                                                                              Mar 11 - Sep 11

   CASTLEROCK FUND LTD                                          31 Aug 96         Q       $108M        695.75    31 Oct   2.82%     8.05%    -3.82%    -23.84%   11.81%       11.95%    16.96%       (37.70%)
   Paul Tanico                                                                            Jan 13                   13                                                                              May 01 - Feb 03

   COBALT OFFSHORE LTD                                          31 Dec 96         Q      $802M         754.71    31 Oct   0.57%     7.13%    4.49%     -0.66%     5.96%       12.75%    8.17%        (19.53%)
   Wayne Cooperman                                                                       Sep 13                    13                                                                              Apr 98 - Sep 98

   ELM RIDGE CAPITAL PARTNERS L.P.                              31 Dec 99         Q      $638M         530.76    31 Oct   3.30%     21.92%   -14.08%    0.7%      1.76%       12.81%    13.17%       (19.41%)
   Ronald Gutfleish                                                                      Aug 13                    13                                                                              Apr 10 - Nov 12

   EMINENCE FUND LTD A INITIAL SERIES                           31 Dec 98         Q      $3'342M       642.88    22 Nov   1.90%     10.10%   23.83%    1.29%     -1.83%       13.30%    9.63%        (19.99%)
   Ricky C. Sandler                                                                       Aug 13                   13                                                                              Dec 07 - Dec 08

   GLENVIEW CAPITAL PARTNERS (CAYMAN), LTD.                     31 Dec 00         Q      $3'290M       610.15    31 Oct   3.45%     37.48%   24.24%    -10.95%   14.22%       15.12%    16.52%       (49.17%)
   Lawrence M. Robbins                                                                    Oct 13                   13                                                                              May 07 - Dec 08

   HIGHBRIDGE LONG/SHORT EQUITY FUND, LTD                       30 Apr 04         Q       $430M       2,169.22   15 Nov   0.99%     12.90%   11.02%    -12.64%    5.34%        8.45%    10.07%       (21.12%)
   Alex McAree                                                                            Oct 13                   13                                                                              Mar 11 - Sep 11

   INVICTA OFFSHORE FUND LTD                                    31 Dec 09         M       $76M         167.30    30 Sep   7.20%     15.52%   -3.28%    10.18%     35.9%       14.70%    10.19%       (10.11%)
   James Alpha LLC                                                                       Sep 13                    13                                                                              Mar 12 - Apr 13


1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                        HSBC Alternative Investment Group             |      25
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD       YTD      2012     2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                        Drawdown1
                                                                                                                               Ytd Avg. 2013
Equity-Diversified/USA                                                                                                            19.88%
   IVORY CAPITAL ENHANCED STRATEGY                              30 Apr 05         Q       $864M        230.95    22 Nov   2.40% 25.43%       16.41%   -4.37%     4.65%       10.26%    10.88%       (24.93%)
   Curtis Macnguyen                                                                       Jul 13                   13                                                                             May 08 - Dec 08

   IVORY CAPITAL FLAGSHIP STRATEGY                              30 Nov 98         Q      $1'013M      4,113.81   22 Nov   1.49%     15.29%   10.5%    -3.54%     2.12%        9.90%    6.01%        (12.61%)
   Curtis Macnguyen                                                                       Aug 13                   13                                                                             May 08 - Nov 08

   KINETICS FUND, INC - A/A                                     31 Jan 01         M      $151M        3,426.42   22 Nov   2.77%     38.34%   27.42%   -14.83%    30.8%       10.09%    22.33%       (76.20%)
   Peter B. Doyle                                                                        Nov 13                    13                                                                             Oct 07 - Feb 09

   MADISON STREET FUND L.P.                                     31 Jan 04         M       $50M         275.13    31 Oct   2.55%     19.18%   5.79%    -3.04%     3.66%       10.93%    6.57%         (9.59%)
   Steven C. Owsley & Drew M. Hayworth                                                    Oct 12                   13                                                                             Apr 11 - Sep 11

   MARLIN FUND LP                                               30 Jun 95         M       $444M       9,769.69   31 Oct   6.76%     57.75%   31.53%   -17.77%   41.63%       28.36%    25.77%       (60.15%)
   Michael Masters                                                                        Oct 13                   13                                                                             Oct 07 - Feb 09

   OMEGA OVERSEAS PARTNERS, LTD CLASS A                         31 Dec 91         M      $2'200M       902.01    31 Oct   2.43%     22.25%   25.66%   -2.97%    14.65%       10.59%    14.73%       (42.55%)
   Leon Cooperman                                                                         Oct 13                   13                                                                             May 07 - Feb 09

   RENAISSANCE INSTITUTIONAL EQUITIES LP (B)                     31 Jul 05        M      $1'746M       191.62    22 Nov   1.56%     17.59%   8.29%    34.12%    15.32%        8.13%    10.36%       (35.73%)
   Renaissance Technologies LLC                                                           Sep 13                   13                                                                             May 07 - Apr 09

   RWC US ABSOLUTE ALPHA FUND - CLASS B                         30 Sep 09         D       $127M        123.56    26 Nov   0.14%     11.63%   16.32%   -2.25%    -4.56%        5.22%    5.32%         (9.19%)
   Mike Corcell                                                                           Oct 13                   13                                                                             Apr 10 - Dec 11

   SAB OVERSEAS FUND LTD                                         31 Jul 00     3Q / Q    $320M         442.15    31 Oct   0.20%     12.20%   21.5%    -0.71%     6.69%       11.86%    11.17%       (17.57%)
   Scott Bommer                                                                          Dec 12                    13                                                                             Mar 10 - Aug 10

   SEMINOLE OFFSHORE FUND                                       31 May 98         Q      $1'142M       725.31    22 Nov   2.20%     22.28%   5.08%     -0.7%     9.85%       13.65%    12.67%       (15.62%)
   Michael G. Messner, Paul C. Shiverick                                                  Oct 13                   13                                                                             May 02 - Mar 03

   ZWEIG-DIMENNA INTL LIMITED - CLASS A                         31 May 87         Q      $1'295M     95,813.45   31 Oct   (1.25%)   13.01%   -1.18%   -2.37%     0.43%       14.68%    15.12%       (50.23%)
   Joseph DiMenna / Martin Zweig                                                          Sep 13                   13                                                                             Feb 00 - Dec 02

Equity-Energy
Ytd Avg. 2013   32.75%
                                                                                                                              Ytd Avg. 2013
Equity-Energy/USA                                                                                                                32.75%
   DORSET ENERGY FUND, LTD - CLASS A                            31 Oct 00         M      $271M         56.90     22 Nov (2.04%) 32.75%      -6.43%    -1.27%    16.12%       14.23%    21.21%       (49.55%)
   David M. Knott, Donald Textor                                                         Sep 13                    13                                                                             Jun 08 - Dec 08

Equity-Financial
Ytd Avg. 2013   13.83%
                                                                                                                               Ytd Avg. 2013
Equity-Financial/Global                                                                                                           13.83%
   LANSDOWNE GLOBAL FINANCIALS FUND LTD.                        30 Jun 04         M      $1'129M       309.06    22 Nov   0.80% 16.00%       17.78%   -20.82%   -1.55%       12.75%    13.48%       (26.25%)
   -N-USD                                                                                 Sep 13                   13                                                                             Apr 10 - May 12
   Williamde Winton


1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                       HSBC Alternative Investment Group             |      26
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012      2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                        Drawdown1
                                                                                                                               Ytd Avg. 2013
Equity-Financial/Global                                                                                                           13.83%
   MARSHALL WACE - MW GLOBAL FINANCIALS M/N A                   31 Oct 08         M       $388M        127.36    26 Nov   2.06%    4.05%     -0.75%   3.21%      7.64%        4.88%    5.64%         (8.01%)
   USD                                                                                    Jan 13                   13                                                                             Nov 11 - Aug 12
   Amit Rajpal
   TOSCA CLASS A - USD                                          30 Sep 00         M      $681M         265.78    31 Oct   4.12%   21.43%    24.94%    1.14%     10.31%        7.75%    17.49%       (67.54%)
   Johnny de la Hey                                                                      Sep 13                    13                                                                             Dec 07 - Nov 08

Equity-Healthcare
Ytd Avg. 2013   21.55%
                                                                                                                               Ytd Avg. 2013
Equity-Healthcare/Global                                                                                                          21.55%
   CCI HEALTHCARE PARTNERS LTD                                  31 Dec 00         M      $843M         319.52    31 Oct   0.65% 21.44%       6.56%    3.99%      3.71%        9.47%    8.32%        (17.89%)
   Oliver Marti, CCI Healthcare Partners                                                 Aug 13                    13                                                                             Oct 07 - Sep 08

   JENOP GLOBAL HEALTHCARE FUND LTD SERIES A                    31 Oct 12         W      $155M         11.91     15 Nov (0.34%)   19.66%    -0.45%                           18.31%    9.92%         (5.49%)
   David Chan                                                                            Sep 13                    13                                                                             Sep 13 - Nov 13

   MLIS - CCI HEALTHCARE LONG SHORT UCITS FUND - 31 Jan 10                        W      $355M         138.67    26 Nov   3.38%   26.11%     5.51%    2.72%      1.46%        8.93%    8.58%         (8.67%)
   B (acc) USD                                                                           Sep 13                    13                                                                             Mar 10 - Aug 10
   Oliver Marti, CCI Healthcare Partners
   VISIUM INSTITUTIONAL PARTNERS FUND LTD                       31 May 10         Q       $105M        125.38    22 Nov   1.39%   19.00%     5.73%    1.28%     -1.61%        6.71%    5.97%         (5.86%)
   Jacob Gottlieb, Visium Asset Management                                                Oct 13                   13                                                                             Apr 11 - Sep 11

Equity-Mid-Small Cap
Ytd Avg. 2013   14.70%
                                                                                                                               Ytd Avg. 2013
Equity-Mid-Small Cap/Europe                                                                                                       15.31%
   ENNISMORE EUROPEAN SMALLER COMPANIES                         30 Nov 99         M       €67M         379.95    21 Nov   2.69% 20.73%       9.65%    11.36%    23.12%       12.72%    10.80%       (34.24%)
   Geoff Oldfield                                                                         Oct 13                   13                                                                             Jul 07 - Apr 09

   POLAR CAPITAL EUROPEAN FORAGER FUND LTD -                     31 Jul 03        M       €408M        303.67    22 Nov   1.47%    9.89%    11.93%    2.39%     10.46%       11.36%    7.41%        (21.47%)
   AX                                                                                     Jun 13                   13                                                                             Oct 07 - Feb 09
   Rob Gurner
                                                                                                                                Ytd Avg. 2013
Equity-Mid-Small Cap/Global                                                                                                       (27.83%)
   RAB SPECIAL SITUATION FD LTD                                  31 Jul 03        Q      $22M          431.80    31 Oct   (0.68%) (27.83%) -27.94%    -17.75%   -7.59%        1.93%    35.21%       (88.77%)
   Philip Richards                                                                       May 13                    13                                                                             Jul 07 - Oct 13
                                                                                                                               Ytd Avg. 2013
Equity-Mid-Small Cap/UK                                                                                                           10.34%
   ALPHAGEN VOLANTIS FUND, LTD - A (USD)                        30 Apr 02         M      $547M         483.58    22 Nov   0.72% 10.34%       12.7%    1.02%     12.33%       14.59%    8.46%        (11.36%)
   Rob Giles & Adam McConkey                                                             Sep 13                    13                                                                             Jun 08 - Dec 08




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                       HSBC Alternative Investment Group             |      27
Source - HSBC
                                                              Inception     Liquidity   Asset     Last NAV or    Date     MTD     YTD          2012     2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                   Size         Index                                                                                           Drawdown1
                                                                                                                               Ytd Avg. 2013
Equity-Mid-Small Cap/USA                                                                                                          26.12%
   GREENLIGHT CAPITAL OFFSHORE, LTD - A/1                       30 Sep 96        Q      $8'203M     151,003.75   31 Oct   1.09% 12.81%       7.66%      1.86%     12.47%       17.21%    10.87%       (27.17%)
   David Einhorn                                                                         Jan 13                    13                                                                               May 08 - Oct 08

   GRT TOPAZ OFFSHORE PARTNERS, LTD - A/1                       31 Aug 01        Q      $29M         2,470.45    22 Nov   2.52%   10.36%       13.2%    -1.64%    14.64%        7.67%    12.98%       (47.07%)
   Gregory B Fraser & Rudolph K Kluiber & Timothy A.                                    Dec 12                     13                                                                               May 07 - Feb 09
   Krochuk
   HARBOUR HOLDINGS LTD                                         31 Dec 85        M      $236M         167.07     15 Nov   1.50%   22.72%       14.64%   -1.07%    20.45%       18.60%    23.32%       (49.05%)
   Charles A. Paquelet                                                                  Aug 13                     13                                                                               May 07 - Feb 09

   SENVEST PARTNERS, LTD - CLASS A                              31 Mar 97        Q       $329M       2,045.64    31 Oct   1.40%   58.59%       34.81%   -33.96%   39.59%       19.94%    38.09%       (70.55%)
   Richard Mashaal                                                                       Oct 13                    13                                                                               Feb 00 - Sep 02

Equity-Pharma-Biotech
Ytd Avg. 2013   22.66%
                                                                                                                               Ytd Avg. 2013
Equity-Pharma-Biotech/USA                                                                                                         22.66%
   PERCEPTIVE LIFE SCIENCES OFFSH FUND, LTD                     31 Dec 99        M      $1'011M      1,993.18    22 Nov (10.05%) 36.36%      28.09%     5.82%     16.94%       24.01%    26.13%       (25.67%)
   Joseph Edelman                                                                        Sep 13                    13                                                                               Feb 00 - May 00

   TRAXIS SIVIK GLOBAL HEALTHCARE OFFSHORE -                    30 Jun 01        M       $40M        1,974.35    31 Oct   2.06%   16.85%       13.88%   -8.27%     2.58%        5.66%    11.27%       (32.70%)
   A/01-01                                                                               Oct 13                    13                                                                               Oct 07 - Feb 09
   Krishen Sud
   VISIUM BALANCED OFFSHORE FUND CL 2                           31 Oct 05       Y/Q     $2'625M       239.56     22 Nov   0.42%   14.76%       10.31%   1.89%     24.51%       11.44%    8.74%        (15.79%)
   Jacob Gottlieb                                                                        Oct 13                    13                                                                               Aug 08 - Dec 08

Equity-Real Estate
Ytd Avg. 2013   13.73%
                                                                                                                               Ytd Avg. 2013
Equity-Real Estate/Global                                                                                                         13.73%
   BROOKFIELD GLOBAL REITS LONG SHORT                           30 Nov 04        M      $188M         457.57     31 Oct   0.80% 13.73%          40%     -18.96%   30.83%       18.58%    27.72%       (54.37%)
   STRATEGY                                                                             Mar 13                     13                                                                               May 07 - Feb 09
   Jason Baine and Bernhard Krieg

Equity-Technology
Ytd Avg. 2013   4.86%
                                                                                                                               Ytd Avg. 2013
Equity-Technology/Global                                                                                                           3.87%
   EXANE ARCHIMEDES FUND CLASS A CAP                            30 Sep 06        W      €317M       15,726.52    26 Nov   0.18%    3.87%     -0.19%     3.99%      6.82%        6.53%    4.76%         (5.10%)
   Gilles Lenoir and César Zeitouni                                                     Nov 13                     13                                                                               Nov 11 - May 12




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                         HSBC Alternative Investment Group             |      28
Source - HSBC
                                                              Inception     Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012      2011     2010     Ann. Return   Ann. Vol       Max
                                                                Dates                   Size         Index                                                                                       Drawdown1
                                                                                                                              Ytd Avg. 2013
Equity-Technology/USA                                                                                                             5.85%
   SELIGMAN TECH SPECTRUM FUND CLASS                            31 Dec 06        M       $127M        320.09    31 Oct   2.12%    5.85%     0.65%    -0.21%    8.34%        7.11%    12.19%       (19.91%)
   -A1-S/2-2002                                                                          Oct 13                   13                                                                            May 08 - Nov 08
   J. & W. Seligman & Co. Incorporated

Equity-Utility
Ytd Avg. 2013   3.21%
                                                                                                                              Ytd Avg. 2013
Equity-Utility/Europe                                                                                                             3.21%
   CYGNUS UTILITIES, INFRASTRUCTURE &                           30 Apr 06        M      $265M        1,797.34   31 Oct   0.77%    3.21%     10.88%   -2.7%    -2.51%        8.12%    7.89%        (10.69%)
   RENEWABLES                                                                           Nov 13                    13                                                                            Nov 09 - Aug 11
   Cygnus Asset Management




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                     HSBC Alternative Investment Group             |    29
Source - HSBC
                                                              Inception     Liquidity   Asset     Last NAV or   Date     MTD       YTD      2012      2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                   Size         Index                                                                                         Drawdown1

Equity-Diversified
Ytd Avg. 2013   20.87%
                                                                                                                              Ytd Avg. 2013
Equity-Diversified/USA                                                                                                           20.87%
   MARCATO INTERNATIONAL LTD                                    30 Sep 10        Q      $1'598M       159.05    31 Oct   0.90% 20.87%       28.67%    -4.16%     6.71%       16.22%    12.32%       (17.63%)
   Richard McGuire, Marcato Capital Management LLC                                       Aug 13                   13                                                                              Mar 11 - Sep 11

Multi-Strategy
Ytd Avg. 2013   20.05%
                                                                                                                              Ytd Avg. 2013
Multi-Strategy/Asia                                                                                                              12.64%
   YORK ASIAN OPPORTUNITIES UNITS TRUST -A-                     31 Mar 06        Q       $300M       1,314.12   15 Nov   0.19% 12.64%       10.8%     -6.59%    13.47%       10.49%    14.44%       (34.54%)
   Feng Hsiung / Masahiko Yamaguchi                                                      Oct 13                   13                                                                              Oct 07 - Dec 08
                                                                                                                             Ytd Avg. 2013
Multi-Strategy/Emerging                                                                                                         (2.62%)
   MONEDA ABSOLUTE RETURN LTD SUB CLASS                         31 Jan 07        Q      $108M        1,258.51   15 Nov (0.90%) (2.62%)     5.49%      -16.4%    12.86%        3.44%    12.62%       (29.89%)
   1/SIES1                                                                              Dec 12                    13                                                                              Jun 08 - Dec 08
   Juan Luis Rivera
                                                                                                                              Ytd Avg. 2013
Multi-Strategy/Europe                                                                                                            12.26%
   MLIS - OZ EUROPE UCITS FUND CLASS B EUR                      31 Mar 11        D      $298M         113.39    26 Nov   0.72% 12.26%       10.74%    -8.79%                  4.84%    6.60%        (10.96%)
   David Windreich, Och-Ziff Capital Management Group                                   Sep 13                    13                                                                              Apr 11 - Nov 11
                                                                                                                              Ytd Avg. 2013
Multi-Strategy/Global                                                                                                            22.16%
   AG SUPER FUND INTERNATIONAL, LTD                             30 Apr 93        Y      $640M        1,662.52   22 Nov   1.60% 14.40%       13.67%    -2.62%    13.42%       10.10%    5.46%        (24.78%)
   Michael Gordon & Dave Kamin                                                          Sep 13                    13                                                                              Jun 07 - Dec 08

   DAVIDSON KEMPNER INTL, LTD - CLASS C Tranche 1               31 Oct 95        Q      $6'601M       461.39    22 Nov   0.19%     9.27%    8.13%     1.38%     10.02%        8.83%    3.76%        (10.87%)
   Thomas L. Kempner, Jr.                                                                Sep 13                   13                                                                              Oct 07 - Nov 08

   KG INVESTMENT FUND LLC                                       31 Dec 08        Q       $79M         251.78    31 Oct   2.86%     23.42%   21.93%    12.4%     16.46%       21.04%    14.97%       (20.31%)
   KG Funds Management LLC                                                               Jul 13                   13                                                                              Dec 08 - Feb 09

   KL Special Opportunities FUND Ltd CLASS A USD                31 Jan 11        Q       $90M         126.90    31 Oct   (1.04%)   8.18%    11.96%    4.77%                   9.04%    6.30%         (8.20%)
   Jamie Sherman & Jan Lernout                                                           Oct 13                   13                                                                              Mar 12 - Jun 12

   MLIS - YORK EVEN DRIVEN UCITS E CAP EUR                      31 Dec 10        D      €276M         121.44    26 Nov   3.20%     19.96%   5.44%     -5.32%       -          6.40%    9.51%        (15.14%)
   York Ucits Holdings ,llc                                                             Sep 13                    13                                                                              Apr 11 - Sep 11

   OWL CREEK OVERSEAS FUND, LTD                                 31 Jan 02        Y      $1'967M      4,794.24   22 Nov   2.40%     41.42%   11.07%    -15.44%    2.36%       14.18%    13.10%       (20.92%)
   Jeffrey Altman                                                                        Oct 13                   13                                                                              Mar 10 - Sep 11

   PAULSON ADVANTAGE LTD -A-                                    31 Mar 04        Q      $1'790M       251.09    31 Oct   2.19%     14.10%   -14.23%   -35.96%   10.95%       10.07%    15.00%       (47.71%)
   John Paulson                                                                          Feb 13                   13                                                                              Feb 11 - Nov 12



1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                       HSBC Alternative Investment Group             |      30
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012      2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                        Drawdown1
                                                                                                                               Ytd Avg. 2013
Multi-Strategy/Global                                                                                                             22.16%
   PAULSON ADVANTAGE PLUS LTD                                   31 Dec 04         Q      $2'624M       263.04    31 Oct   3.03% 19.00%       -21.5%   -52.64%   17.13%       11.56%    22.88%       (65.24%)
   John Paulson                                                                           Feb 13                   13                                                                             Feb 11 - Feb 13

   PAULSON RECOVERY FUND LTD                                    31 Oct 08         Y      $1'503M       166.65    31 Oct   3.75%   41.63%     5.25%    -27.92%   23.78%       10.74%    20.11%       (35.13%)
   John Paulson                                                                           Feb 13                   13                                                                             Apr 11 - Sep 11

   PERRY PARTNERS INTERNATIONAL INC CLASS -1 -                  30 Sep 93      Q / 2Y    $6'269M       997.12    22 Nov   1.71%   17.74%    15.61%    -7.14%    15.12%       12.08%    7.23%        (25.65%)
   TN A                                                                                   Oct 13                   13                                                                             Oct 07 - Nov 08
   Richard Perry
   PERSHING SQUARE INTL.LTD                                     31 Dec 04        Y/Q      $4'994      3,731.64   15 Nov   1.40%    9.61%    12.39%    -2.03%    21.68%       15.99%    14.07%       (20.35%)
   William Ackman                                                                         Oct 13                   13                                                                             Jan 08 - Feb 09

   SFP VALUE REALIZATION FUND                                   31 Oct 03         Q      $251M         322.57    22 Nov   6.17%   66.14%    44.54%    7.42%     18.93%       12.34%    19.67%       (55.47%)
   Greg McEntyre                                                                         Aug 13                    13                                                                             Jan 06 - Oct 10

   SOLUS SOLA LTD CL. I                                         31 Dec 01         Q      $981M        1,095.55   15 Nov   2.36%   28.77%     9.11%    -1.73%    24.19%       22.32%    14.51%       (21.93%)
   Chris Pucillo, Scott Martin, CJ Lanktree                                              Nov 13                    13                                                                             Feb 08 - Apr 09

   SOMERSET SPECIAL OPPORTUNITIES FUND LP                        31 Jul 07        Q      $293M         185.57    31 Oct   1.36%   10.32%    11.33%    -1.25%     18.7%       10.38%    11.27%       (25.61%)
   Robert Feingold                                                                       Sep 13                    13                                                                             Aug 08 - Mar 09

   TRIAN PARTNERS LTD                                           31 Dec 05         Q      $1'692M       191.12    22 Nov   1.19%   36.66%     0.9%     3.98%     17.92%        8.55%    13.58%       (30.56%)
   Nelson Peltz, Peter May & Ed Garden                                                    Jun 13                   13                                                                             May 07 - Feb 09

   TYRUS CAPITAL EVENT FUND LTD                                 31 Oct 09         Q      $918M         139.65    22 Nov (0.93%)   12.35%     6.77%    -0.22%     11%          8.57%    6.32%         (7.95%)
   Tony Chedraoui                                                                        Sep 13                    13                                                                             Feb 11 - Sep 11

   TYRUS CAPITAL OPPORTUNITIES FUND LTD                         31 Mar 11         Q       $539M        113.95    22 Nov (0.86%)   11.02%     7.59%     -4.6%                  5.05%    6.15%         (6.43%)
   Tony Chedraoui                                                                         Oct 13                   13                                                                             Mar 11 - Sep 11

   YORK INVESTMENT LTD -CLASS A-U/1                             28 Feb 94         Q      $2'600M      8,488.74   22 Nov   2.28%   14.81%    13.73%    -7.34%     7.39%       11.44%    8.89%        (29.86%)
   James Dinan                                                                            Jan 13                   13                                                                             Oct 07 - Feb 09




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                       HSBC Alternative Investment Group             |      31
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012      2011     2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                       Drawdown1

Fixed Income
Ytd Avg. 2013   3.52%
                                                                                                                               Ytd Avg. 2013
Fixed Income/Global                                                                                                                3.52%
   BLACKROCK FIXED INCOME GLOBAL ALPHA FUND                     30 Sep 06         M      $5'100M       203.03    25 Nov   0.36%    4.42%     14.73%   19.93%   11.13%       10.40%    5.47%        (10.54%)
   Tim Webb                                                                               Oct 13                   13                                                                            Jun 08 - Dec 08

   BLACKROCK OBSIDIAN FUND                                      30 Jun 96         M      $1'050M      6,421.19   22 Nov   0.75%   7.65%     34.27%    -13.5%   28.71%       11.27%    9.34%        (20.93%)
   Stuart Spodek                                                                          Oct 13                   13                                                                            Jan 08 - Feb 09

   CAPULA GLOBAL RELATIVE VALUE FUND LTD CLASS 30 Sep 05                          Q      $5'556M       222.12    22 Nov   0.12%   7.16%     0.43%     6.21%     9.57%       10.29%    4.79%         (7.41%)
   -A-                                                                                    Nov 13                   13                                                                            Feb 08 - Mar 08
   Yan Huo, Masao Asai
   EMF FIXED INCOME FUND, LTD                                   31 Oct 01         M       $234M      37,209.32   22 Nov (0.60%)   (3.53%)   -1.12%    5.89%     8.71%       11.50%    14.61%       (22.46%)
   Eric M. Flanagan/David C. Gottlieb                                                     Oct 13                   13                                                                            Feb 08 - Mar 08

   III FUND LTD                                                 30 Jun 93         M       $105M       3,870.94   22 Nov   0.54%   12.28%    11.83%    9.03%    18.53%        6.86%    11.16%       (54.77%)
   Cliff G Viner                                                                          Oct 13                   13                                                                            Jan 08 - Nov 08

   III RELATIVE VALUE CREDIT STRATEGIES FUND LTD                31 Oct 05         M       $125M       1,772.85   22 Nov   0.20%   8.03%     10.22%    10.36%   16.34%        7.36%    8.38%        (31.27%)
   Lester Coyle                                                                           Oct 13                   13                                                                            Nov 07 - Dec 08

   KAMUNTING STREET OFFSHORE FUND LTD                           30 Apr 04         Q       $779M        240.24    22 Nov   0.20%   6.44%     17.5%     -6.2%    24.02%        9.59%    12.75%       (38.39%)
   Allan Teh                                                                              Oct 13                   13                                                                            Oct 07 - Nov 08

   KLS DIVERSIFIED FUND LTD                                      31 Jul 08        Q      $1'234M       154.26    31 Oct   1.39%   1.76%     7.35%     4.85%    11.64%        8.60%    3.38%         (4.10%)
   Jeff Kronthal ; Harry Lengsfield ; John Steinhardt                                     Nov 13                   13                                                                            Apr 13 - Jul 13

   LONDON DIVERSIFIED FUND, LTD - D                             31 May 95         Q      $123M        4,583.11   22 Nov (0.14%)   0.00%     4.86%     3.75%     7.55%        8.58%    6.64%        (28.95%)
   Robert Standing                                                                       Aug 13                    13                                                                            Jan 08 - Dec 08

   MKP PARTNERS OFFSHORE LTD                                    29 Feb 96         Q       $81M         376.01    22 Nov (0.11%)   0.23%     7.73%     10.97%   11.38%        7.75%    10.19%       (41.67%)
   Richard Lightburn & Patrick McMahon                                                    Oct 13                   13                                                                            May 98 - Oct 98

   PELAGUS CAPITAL FUND                                         31 Dec 07         M       $704M        205.58    22 Nov (0.92%)   4.02%     4.47%     2.27%    12.17%       12.99%    5.83%         (4.14%)
   Bruno Usai                                                                             Oct 13                   13                                                                            Apr 11 - Aug 11

   PIMCO ABSOLUTE RETURN STRATEGY IV                            31 Mar 02         Q      $3'146M      2,320.97   31 Oct   0.42%   (0.27%)   12.01%    1.82%    11.39%        7.53%    8.73%        (25.88%)
   OFFSHORE FUND II , CL. A/1                                                             Oct 13                   13                                                                            May 08 - Nov 08
   William H. Gross, Qi Wang
   PINE RIVER LIQUID MORTGAGE FUND LTD                          31 Aug 10         M       $795M        148.43    22 Nov (0.85%)   (0.65%)   28.86%    7.19%     8.17%       13.01%    7.03%         (4.70%)
   Jiayi Chen, Steve Kuhn                                                                 Oct 13                   13                                                                            Feb 13 - Jun 13

   PROLOGUE FEEDER FUND, LTD. CLASS A                           31 Jan 06         Q      $2'241M      1,915.07   15 Nov (0.42%)   1.80%     6.02%     8.37%     6.65%        8.69%    3.62%         (2.43%)
   David Lofthouse, Graham Walsh                                                          Nov 13                   13                                                                            May 13 - Nov 13




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                      HSBC Alternative Investment Group             |      32
Source - HSBC
                                                              Inception     Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012     2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                   Size         Index                                                                                       Drawdown1

Arbitrage
Ytd Avg. 2013   4.43%
                                                                                                                              Ytd Avg. 2013
Arbitrage/Global                                                                                                                  4.43%
   HSBC MAA FUND USD                                            15 Jun 95      Q/M       $96M         209.52    15 Nov   0.50%    4.43%     4.21%   -3.61%     2.91%        4.09%    4.76%        (25.30%)
   HSBC Alternative Investments Limited                                                 Aug 13                    13                                                                            Jul 07 - Dec 08

Event Driven
Ytd Avg. 2013   8.16%
                                                                                                                              Ytd Avg. 2013
Event Driven/Global                                                                                                               8.16%
   GEMS PROGR. FUND SICAV RECOVERY PORTFOLIO                    31 Dec 01        Q       $266M       2,358.67   22 Nov   0.52%    6.11%     5.91%   -12.46%    6.14%        7.48%    6.73%        (23.23%)
   REGULAR USD                                                                           Oct 12                   13                                                                            Jun 08 - Dec 08
   David Goldfarb, Miguel Abadi, Cedric Carrol
   HSBC CREDIT MARKET OPPORTUNITIES FUND USD                    31 May 09        Q       $60M         115.54    15 Nov   0.17%   7.74%     8.74%    -7.47%    17.52%        5.66%    6.33%         (9.16%)
   CLASS COMPOSITE                                                                      Aug 13                    13                                                                            Feb 11 - Dec 11
   Hsbc Management (Guernsey) Ltd
   HSBC SPECIAL OPPORTUNITIES FUND LTD                          28 Feb 07        Q       $79M         125.33    15 Nov   0.37%   10.62%    20.63%    -3.5%     0.85%        3.42%    10.25%       (35.45%)
   HSBC Alternative Investments Limited                                                 Aug 13                    13                                                                            Jun 08 - Mar 09

Long/Short
Ytd Avg. 2013   7.21%
                                                                                                                              Ytd Avg. 2013
Long/Short/Asia                                                                                                                   7.21%
   HSBC ASIAN ADVANTEDGE FUND                                   30 Jun 02        M       $31M         181.37    15 Nov   0.66%    7.21%     2.01%   -11.59%    2.66%        5.37%    8.06%        (24.73%)
   HSBC Alternative Investments Limited                                                 Aug 13                    13                                                                            Dec 07 - Nov 08

Macro
Ytd Avg. 2013   7.86%
                                                                                                                              Ytd Avg. 2013
Macro/Global                                                                                                                      7.86%
   MASTERS FUND LTD MAGNOLIA SERIES                             31 Dec 96        Q      $262M        5,005.77   22 Nov   0.98%    7.86%     1.49%   -0.36%     7.1%        10.00%    8.68%         (9.96%)
   Sean M. Doyle                                                                        Sep 13                    13                                                                            Jul 98 - Oct 98

Multi-Strategy
Ytd Avg. 2013   6.31%




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                     HSBC Alternative Investment Group             |      33
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012     2011     2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                      Drawdown1
                                                                                                                               Ytd Avg. 2013
Multi-Strategy/Global                                                                                                              6.31%
   DIAMOND CAPITAL MANAGEMENT                                   31 Oct 02         Q      $197M         173.38    31 Oct   1.05%    7.16%     2.61%   -1.97%    4.05%        5.13%    4.34%        (14.18%)
   Elchanan Jaglom, Daniel Jaglom                                                        Mar 13                    13                                                                           Jun 08 - Dec 08

   GAM DIVERSITY I INC - US$ CLASS                              31 Dec 89         M       $516M        740.58    25 Nov   0.78%   8.35%     6.67%    -3.44%   -2.55%        8.73%    7.95%        (19.64%)
   David Smith                                                                            Oct 13                   13                                                                           Jan 94 - Jan 95

   GAM DIVERSITY II INC - US$ CLASS                              31 Jul 98        M       $84M         225.50    25 Nov   0.77%   8.21%     6.54%    -3.66%    -3.4%        5.45%    7.33%        (18.79%)
   David Smith                                                                            Oct 13                   13                                                                           Oct 07 - Dec 11

   GAM TRADING II USD                                           30 Apr 97         M      $1'984M       323.54    25 Nov   1.27%   (2.00%)   2.83%    -4.11%    5.97%        7.34%    5.82%         (7.34%)
   David Smith, Arvin Soh                                                                 Oct 13                   13                                                                           Apr 13 - Oct 13

   HSBC GH FUND USD                                             31 May 96         M      $1'561M       311.21    15 Nov   0.31%   6.64%      5.4%    -3.37%    4.68%        6.71%    6.37%        (18.30%)
   HSBC Alternative Investments Limited                                                   Aug 13                   13                                                                           Jun 08 - Dec 08

   HSBC HEDGE INVESTMENTS FUND                                  28 Feb 02         Q        $4M         162.81    15 Nov   0.30%   6.44%     5.97%    -2.72%    5.33%        4.25%    4.92%        (17.63%)
   HSBC Alternative Investments Limited                                                   Jul 13                   13                                                                           Jun 08 - Dec 08

   HSBC LEVERAGED GH FUND                                       30 Nov 04         M      $1'561M       142.71    15 Nov   0.51%   11.49%    8.72%    -8.76%    7.18%        4.05%    11.74%       (37.09%)
   HSBC Republic Investment Limited                                                       Aug 13                   13                                                                           Jun 08 - Dec 08

   HSBC NEXT GENERATION FUND NNI MANDATE Share 30 Sep 11                          M       $47M         105.77    15 Nov   0.17%   5.35%     1.98%    -1.55%                 2.67%    4.15%         (4.45%)
   Class                                                                                 Aug 13                    13                                                                           Feb 12 - Sep 12
   HSBC Management (Guernsey) Ltd
   HSBC UCITS ADVANTEDGE FUND -USD CLASS                        31 Oct 09         W      $107M         98.23     20 Nov   0.45%   5.13%     1.38%    -7.51%   -0.37%       (0.43%)   3.61%         (8.81%)
   Hsbc Alternative Inv. Ltd                                                             Nov 13                    13                                                                           Apr 10 - Dec 11

Trading
Ytd Avg. 2013   (9.94%)
                                                                                                                              Ytd Avg. 2013
Trading/Global                                                                                                                   (9.94%)
   HSBC TRADING ADVANTEDGE FUND                                 31 Oct 05         M      $164M         127.96    15 Nov (0.52%) (9.94%)     -5.39%   -1.62%    8.82%        3.11%    9.91%        (20.93%)
   HSBC Alternative Investments Limited                                                  Sep 13                    13                                                                           Apr 11 - Sep 13




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                     HSBC Alternative Investment Group             |      34
Source - HSBC
                                                              Inception     Liquidity   Asset     Last NAV or   Date   MTD      YTD       2012      2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                   Size         Index                                                                                       Drawdown1

Equity-Diversified
Ytd Avg. 2013   4.24%
                                                                                                                             Ytd Avg. 2013
Equity-Diversified/Emerging                                                                                                     (9.63%)
   MONEDA CHILE FUND LTD                                        31 Aug 95        M        $81M        55.67     22 Nov (4.28%) (20.29%) 16.95%      -23.66%   66.01%        9.95%    21.53%       (51.15%)
   Pablo Echeverría                                                                      Jun 13                   13                                                                            Oct 07 - Oct 08

   RUSSIAN PROSPERITY FUND - A                                  31 Aug 96        W      $1'620M       232.33    21 Nov (2.82%) 1.03%       20.19%   -18.03%   47.56%       20.23%    44.80%       (90.26%)
   Alexander Branis                                                                      Oct 13                   13                                                                            Jul 97 - Jan 99
                                                                                                                             Ytd Avg. 2013
Equity-Diversified/Global                                                                                                       31.98%
   PASSPORT SPECIAL OPPORTUNITIES FUND LTD                      30 Apr 08       H-Y     $384M         174.56    31 Oct (1.50%) 31.98%      -5.67%   -19.91%   72.77%       10.64%    27.97%       (43.24%)
   CLASS AA                                                                             Sep 13                    13                                                                            Jun 08 - Nov 08
   John Burbank




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                     HSBC Alternative Investment Group             |     35
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD       YTD         2012     2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                           Drawdown1

Commodity
Ytd Avg. 2013   3.82%
                                                                                                                                Ytd Avg. 2013
Commodity/Global                                                                                                                    3.82%
   ANDURAND COMMODITIES FUND                                    31 Jan 13         M       $290M        995.73    31 Oct   (7.00%) 25.27%                                        35.15%    20.72%       (11.69%)
   Pierre Andurand                                                                        Oct 13                   13                                                                                Jul 13 - Oct 13

   ARMAJARO COMMODITIES FUND CLASS -A-                          31 Mar 04         M       $967M        231.91    22 Nov (1.88%)     1.06%       1.65%    -7.11%     7.35%        9.11%    11.24%       (15.56%)
   John Tilney                                                                            Oct 13                   13                                                                                Feb 08 - Dec 08

   BREVAN HOWARD COMMODITIES STRATEGIES                         28 Feb 10         M       $817M        103.76    31 Oct   (1.82%)   (3.27%)     5.8%     -2.65%     7.83%        1.97%    8.81%         (8.62%)
   FUND L.P.                                                                              Oct 13                   13                                                                                Aug 11 - Dec 11
   Stephane Nicolas
   DB PLATINUM V HERMES A.R. COMMODITY FUND                     28 Feb 10         D       $345M        105.66    26 Nov (1.83%)     (8.41%)     -0.65%   9.69%      5.86%        1.48%    6.22%        (13.80%)
   Colin O'Shea                                                                           Oct 12                   13                                                                                Mar 12 - Nov 13

   KROM RIVER COMMODITY FUND                                    30 Jun 06         M      $300M         160.42    22 Nov (0.18%)     (5.74%)     -4.92%   -3.89%    13.23%        6.59%    9.41%        (17.96%)
   Christopher Brodie                                                                    Sep 13                    13                                                                                Apr 11 - Nov 13

   MERCHANT COMMODITY FUND (THE) - COMPOSITE                    31 May 04         M      $151M         351.23    22 Nov   3.90%     13.99%      -7.6%    -30.07%    27.4%       14.16%    20.84%       (36.93%)
   Michael Coleman and Doug King                                                         Aug 13                    13                                                                                Dec 10 - Oct 11

Commodity-Systematic
Ytd Avg. 2013   (10.15%)
                                                                                                                                Ytd Avg. 2013
Commodity-Systematic/Global                                                                                                       (10.15%)
   ARMAJARO STS COMMODITIES FUND CLASS -Z-                      31 Dec 09         M       $38M         74.00     31 Oct   (0.40%) (10.15%) -18.15%       -15.89%   19.64%       (7.55%)   23.65%       (48.58%)
   Will Griffin                                                                           Jul 13                   13                                                                                Apr 11 - Oct 13

Currency
Ytd Avg. 2013   (1.59%)
                                                                                                                               Ytd Avg. 2013
Currency/Asia                                                                                                                      3.14%
   DYMON ASIA MACRO FUND (SERIES A)                              31 Jul 08        M      $2'631M       156.03    22 Nov   0.35%    5.40%     0.96%       20.11%    15.23%        8.73%    11.30%       (13.69%)
   Danny Yong                                                                             Sep 13                   13                                                                                Jul 08 - Sep 08

   THE CAMBRIDGE STRATEGY - ASIAN MARKETS                       31 Jan 06         M      $122M         159.80    22 Nov (1.23%)     0.88%       0.86%    6.36%      4.49%        6.18%    8.18%         (7.06%)
   CURRENCY ALPHA                                                                        Sep 13                    13                                                                                May 13 - Sep 13
   Alexandra Edstein
                                                                                                                               Ytd Avg. 2013
Currency/Global                                                                                                                   (6.31%)
   THE CAMBRIDGE STRATEGY - EMERGING MARKETS                    31 Jan 08         M       $57M         150.23    22 Nov   4.18% (1.81%)      7.42%       10.46%     3.24%        7.25%    8.15%        (10.70%)
   CURRENCY ALPHA                                                                        Sep 13                    13                                                                                May 13 - Sep 13
   Jesse Marre, Andrew Bresler

1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                          HSBC Alternative Investment Group             |      36
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD       YTD        2012     2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                          Drawdown1
                                                                                                                              Ytd Avg. 2013
Currency/Global                                                                                                                  (6.31%)
   THE CAMBRIDGE STRATEGY - EXTENDED MARKETS                    31 Mar 04         M      $324M         117.94    22 Nov (0.43%) (10.81%)    -1.47%      -0.92%    -11.17%       1.72%    6.97%        (29.09%)
   CURRENCY ALPHA                                                                        Sep 13                    13                                                                               Feb 09 - Nov 13
   Robert Colehan

Diversified
Ytd Avg. 2013   6.30%
                                                                                                                               Ytd Avg. 2013
Diversified/Asia                                                                                                                  14.77%
   ALPHADYNE INVESTMENT STRATEGIES FUND LTD                     31 Jan 07         M       $307M       1,806.76   22 Nov   1.06%    9.39%     7.06%      3.11%      7.58%        9.07%    4.86%         (3.63%)
   Bart Broadman, Philippe Khuong-Huu                                                     Oct 13                   13                                                                               May 09 - Jun 09

   BREVAN HOWARD ASIA FUND LIMITED                              30 Sep 04         M      $2'278M       225.37    31 Oct   (1.28%)    8.09%     4.41%    8.86%      1.83%        9.35%    3.84%         (1.94%)
   Kaspar Ernst                                                                           Oct 13                   13                                                                               Jan 10 - Mar 10

   FORTRESS ASIA MACRO FUND                                     28 Feb 11         Q      $1'594M       141.84    22 Nov   0.99%     13.27%     21.23%    3.3%                  13.64%    6.15%         (4.91%)
   Adam Levinson                                                                          Oct 13                   13                                                                               Mar 11 - Oct 11

   SINFONIETTA FUND                                             31 May 08         M       $85M         178.94    15 Nov   2.74%     28.33%     7.07%    22.92%    -0.27%       11.24%    15.37%       (14.44%)
   Symphony Financial Partners                                                            Oct 13                   13                                                                               Jun 08 - Mar 09
                                                                                                                                Ytd Avg. 2013
Diversified/Emerging                                                                                                                1.24%
   ALPHA4X CAPITAL GROWTH FUND                                  30 Apr 06         M       $118M        161.08    31 Oct   (0.96%) (3.15%)     2.54%     11.5%     -5.19%        6.55%    6.72%         (8.12%)
   Manuel E. Mejía-Aoun, Urvish Bidkar, Fabio Izzo                                        Oct 13                   13                                                                               Nov 09 - May 10

   BLUECREST EMERGING MARKETS FUNDS                             31 Aug 05         Q      $1'760M       195.52    31 Oct   0.28%      3.52%     10.9%    -0.43%     7.82%        8.56%    10.91%       (22.89%)
   Bluecrest Capital Management LLP                                                       Oct 13                   13                                                                               Oct 07 - Oct 08

   BREVAN HOWARD EM. MKT STRATEGIES FUND LTD                    31 Dec 07         M      $2'484M       128.58    31 Oct   1.36%     (11.72%)   14.12%   -6.28%     2.01%        4.40%    10.17%       (16.66%)
   Geraldine Sundstrom                                                                    Oct 13                   13                                                                               Jan 13 - Aug 13

   GAVEA FUND LTD . CLASS A S/1                                  31 Jul 03        Q      $1'082M       232.15    22 Nov   0.42%      1.42%     8.19%    -0.35%     6.48%        8.50%    6.67%        (12.50%)
   Fraga Arminio                                                                          Sep 13                   13                                                                               Jul 08 - Oct 08

   GREEN FUND LLC GREEN CLASS                                   31 Jan 01         M      $639M         712.16    21 Nov   1.33%      7.70%     13.55%    -5.7%     7.84%       15.51%    14.20%       (33.00%)
   Luis Stuhlberger                                                                      May 13                    13                                                                               Jun 08 - Nov 08

   PHARO TRADING FUND                                           30 Nov 00         M       $236M       4,630.92   15 Nov   1.15%     16.80%     0.69%    -2.68%    10.52%       12.55%    10.49%       (13.16%)
   Guillaume Fonkenell                                                                    Oct 13                   13                                                                               Feb 08 - Oct 08

   SPINNAKER GLOB OPP FUND, LTD COMPOSITE                       31 Jan 01         Q      $912M         490.73    15 Nov   0.15%     (0.17%)    14.12%   -11.82%   15.03%       13.24%    9.28%        (31.74%)
   Jorge Rosas                                                                           Sep 13                    13                                                                               May 08 - Feb 09

   THE CAMBRIDGE STRATEGY - APOLLO (EM MACRO)                   30 Apr 09         M      $274M         138.94    22 Nov   3.31%     (4.45%)    12.92%   14.14%     8.52%        7.47%    5.98%        (10.90%)
   ABSOLUTE RETURN                                                                       Sep 13                    13                                                                               Mar 13 - Oct 13
   Russell Thompson, Walid Khalfallah, Ali Bora
   Yigitbasioglu




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                         HSBC Alternative Investment Group             |      37
Source - HSBC
                                                              Inception      Liquidity   Asset      Last NAV or   Date     MTD     YTD        2012     2011     2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size          Index                                                                                       Drawdown1
                                                                                                                                 Ytd Avg. 2013
Diversified/Global                                                                                                                   6.49%
   BREVAN HOWARD FUND, LTD - USD CLASS A                        31 Mar 03         M      $27'647M       305.86    31 Oct   (0.54%) 0.89%       3.93%   12.15%    1.01%       11.13%    6.88%         (5.92%)
   Alan Howard                                                                            Sep 13                    13                                                                            Apr 13 - Oct 13

   BTG PACTUAL GLOBAL EM. MKTS AND MACRO FD                     31 Jan 09         Q      $5'438M       2,752.87   31 Oct   1.51%    7.59%    28.12%    3.44%    22.38%       23.76%    7.51%         (3.57%)
   BTG Pactual Global Asset Management                                                    Oct 13                    13                                                                            May 11 - Dec 11

   CAPITAL FUND, LTD (THE)                                      31 Dec 99         M       $63M          367.15    22 Nov   0.08%   (3.76%)    0.21%    4.65%     0.34%        9.81%    10.47%       (17.38%)
   Kenneth Windheim                                                                       Jul 13                    13                                                                            Jan 09 - Mar 10

   CAXTON GLOBAL INVESTMENT LTD                                 31 Jan 97         Q      $4'730M        887.64    26 Nov   0.81%    16.22%    1.96%     0.7%     9.29%       13.85%    7.42%         (7.37%)
   Andrew E. Law                                                                          Sep 13                    13                                                                            Jun 07 - Aug 07

   COMAC GLOBAL MACRO FUND                                      31 May 06         M      $1'433M        150.38    22 Nov   0.33%   (0.97%)    -8.95%    5%       1.14%        5.60%    8.18%        (14.56%)
   Colm O’Shea                                                                            Oct 13                    13                                                                            Apr 10 - Aug 13

   COMMONWEALTH OPPORTUNITY CAYMAN FUND                         30 Nov 08         M       $566M         202.73    22 Nov   1.53%    3.87%    15.64%    10.75%    7.01%       15.24%    10.40%       (10.38%)
   LTD                                                                                    Sep 13                    13                                                                            Jan 09 - Feb 09
   Adam Fisher
   DISCOVERY GLOBAL MACRO FUND LTD CLASS -A-                    31 Aug 11         Q      $2'218M       1,400.51   22 Nov   1.36%    19.03%   18.87%    -1.02%                16.30%    8.17%         (3.83%)
   SERIES 1                                                                               Oct 13                    13                                                                            May 12 - Jun 12
   Robert K Citrone
   DISCOVERY GLOBAL OPPORTUNITY FUND, LTD                        31 Jul 99       HY      $5'258M        889.31    22 Nov   1.94%    19.05%   15.06%    3.58%    16.92%       16.48%    14.49%       (33.03%)
   Robert K Citrone                                                                       Sep 13                    13                                                                            Dec 07 - Dec 08

   ECLECTICA FUND (THE) CLASS A EURO                            30 Sep 02         M       €452M         229.20    22 Nov   0.30%   (3.16%)    -1.72%   12.11%    2.65%        7.72%    21.48%       (31.94%)
   Hugh Hendry                                                                            Sep 13                    13                                                                            Feb 08 - Sep 08

   ELEMENT CAPITAL FUND                                         31 Mar 05         M      $4'322M      62,844.77   31 Oct   1.81%    14.63%    2.73%    5.54%     27.6%       23.86%    10.08%        (7.83%)
   Jeffrey Talpins                                                                        Oct 13                    13                                                                            Oct 07 - Apr 08

   EPISODE INC. CLASS A                                          31 Jul 05        Q      $1'490M        135.51    22 Nov (1.17%)    4.69%     -4.69%   0.98%     4.83%        3.72%    11.72%       (32.77%)
   David Fishwick / Tony Finding                                                          Oct 13                    13                                                                            Oct 07 - Feb 09

   FORTRESS MACRO FUND LTD. CLASS A                             31 Dec 08         M      $1'613M       1,274.35   22 Nov   1.17%    11.08%   17.82%    -9.33%    10.7%        8.76%    6.76%        (11.34%)
   Michael E. Novogratz & Adam Levinson                                                   Oct 13                    13                                                                            Mar 11 - Nov 11

   GAM GLOBAL RATES HEDGE FUND                                  31 Jan 04         M       $335M         224.90    19 Nov   0.23%    3.29%    14.71%    -6.73%    9.47%        8.61%    7.32%        (12.25%)
   Adrian Owens                                                                           Oct 13                    13                                                                            Mar 11 - Sep 11

   GAMUT INVESTMENTS                                            30 Jun 86         M        $86M        8,178.41   19 Nov   0.31%    1.29%     0.29%    -0.95%    7.22%       17.43%    13.23%       (13.45%)
   Adrian Owens                                                                           Jun 13                    13                                                                            Dec 87 - Apr 88

   GRAHAM ABSOLUTE RETURN TRADING LTD                           31 Dec 04         Q       $563M         385.28    26 Nov   0.42%    5.53%     9.22%     4.5%    24.53%       13.18%    9.92%        (13.31%)
   Graham Capital Management, L.P.                                                        Oct 13                    13                                                                            May 07 - May 08

   GRAHAM GLOBAL INVESTMENT FUND II -                           31 May 04         Q      $3'511M        214.69    26 Nov   0.52%    2.78%     7.35%    6.82%    14.26%       11.53%    10.46%       (30.81%)
   DISCRETIONARY ENHANCED VOL                                                             Oct 13                    13                                                                            May 07 - Jun 08
   Kenneth G. Tropin




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                       HSBC Alternative Investment Group             |      38
Source - HSBC
                                                              Inception      Liquidity   Asset      Last NAV or    Date     MTD       YTD       2012     2011       2010      Ann. Return   Ann. Vol       Max
                                                                Dates                    Size          Index                                                                                            Drawdown1
                                                                                                                                 Ytd Avg. 2013
Diversified/Global                                                                                                                   6.49%
   GRAHAM GLOBAL INVESTMENT FUND-                               31 May 04         Q      $3'511M        259.61     26 Nov   0.27%    1.43%     3.83%     3.56%       7.12%         6.55%    5.17%        (14.81%)
   DISCRETIONARY                                                                          Oct 13                     13                                                                                May 07 - Jun 08
   Kenneth G. Tropin
   HARMONIC ALPHA PLUS MACRO FUND - USD CLASS                   30 Apr 03         M       $66M          131.97     22 Nov (0.94%)     (5.10%)   22.95%   -8.95%      20.32%        6.13%    11.86%       (16.76%)
   Richard Conyers                                                                       Aug 13                      13                                                                                Apr 11 - Dec 11

   MELLON OFF GLOB OPP FUND LTD -                               30 Nov 05         M      $198M         1,141.80    31 Oct   (0.29%)   0.11%     -2.53%   4.79%       17.48%        1.69%    8.84%        (31.90%)
   MULTICURRENCY - A1                                                                    May 13                      13                                                                                Jan 07 - Oct 08
   Alexander Huberts & Jeff Zhang
   MELLON OFF. ALPHAACCESS FUND LTD - MCY A/1                    31 Jul 05        M      $103M         1,073.19    31 Oct   (0.76%)   0.81%     -4.79%   4.46%       23.11%        0.86%    17.49%       (59.00%)
   Alexander Huberts & Jeff Zhang                                                        May 13                      13                                                                                Jan 07 - Oct 08

   MKP OPPORTUNITY OFFSHORE, LTD                                 31 Jul 01        M      $3'707M        304.08     22 Nov   0.85%     5.32%     6.9%     11.42%      -0.35%        9.45%    5.32%         (3.70%)
   Patrick McMahon                                                                        Oct 13                     13                                                                                Dec 09 - Feb 10

   MLM MACRO PEAK PARTNERS OFFSH FD, LTD - B                    31 Mar 02         M      $573M         2,278.69    22 Nov   1.77%     18.57%    -0.76%   -35.04%     7.83%         7.32%    18.13%       (36.99%)
   Timothy Rudderow                                                                      Sep 13                      13                                                                                Dec 10 - May 12

   MOORE GLOBAL INV FD, LTD - A $                               31 Dec 89         Q      $3'246 M     55,352.11    14 Nov   1.32%     15.78%    8.82%    -2.21%      4.74%        18.30%    11.75%       (18.45%)
   Louis Bacon                                                                            Sep 13                     13                                                                                Jan 94 - Feb 95

   MOORE MACRO MANAGERS FUND, LTD CLASS -A-                      31 Jul 93        Q      $3'139M      13,408.48    14 Nov   0.78%     10.79%    9.01%    -2.57%      11.56%       13.64%    8.40%        (14.47%)
   Louis Bacon                                                                           May 13                      13                                                                                Jan 94 - Feb 94

   OMNI MACRO FUND I LIMITED                                    30 Apr 07         M      $360M          243.79     22 Nov (0.42%)     (5.52%)   0.74%    10.45%      12.03%       14.53%    13.21%       (14.14%)
   Stephen Rosen, Nick Munns                                                             Sep 13                      13                                                                                Aug 10 - Apr 11

   ONSLOW MACRO FUND CLASS A                                    31 Dec 07         M       $115M         147.10     31 Oct   (0.93%)   5.82%     -6.72%   3.17%       13.3%         6.78%    15.38%       (25.48%)
   Nicolas Galperin, Esteban Klein                                                        Oct 13                     13                                                                                Sep 08 - Oct 08

   PHARO MACRO FUND LTD                                         30 Apr 05         Q      $2'448M       2,760.25    15 Nov   0.87%     14.75%    12.53%   -7.82%       7.3%        12.61%    8.88%         (9.64%)
   Guillaume Fonkenell                                                                    Oct 13                     13                                                                                Jun 08 - Nov 08

   PINPOINT MULTI-STRATEGY FUND                                 29 Feb 08         M      $134M          153.80     15 Nov (0.51%)     3.19%     6.19%    -10.43%     23.74%        7.83%    10.93%       (17.36%)
   Qiang Wang                                                                            Sep 13                      13                                                                                Jun 08 - Nov 08

   RUBICON GLOBAL FUND, LTD                                     31 Oct 99         M      $860M          488.25     22 Nov   2.69%     10.75%    -3.89%   5.34%       14.97%       11.93%    14.58%       (36.03%)
   Paul Brewer                                                                           Nov 13                      13                                                                                Dec 04 - May 07

   TREND MACRO OFFSHORE LTD                                      31 Jul 11        M       $132M         123.91     31 Oct   (0.15%)   10.78%    16.56%   -4.04%                    9.97%    6.52%         (6.45%)
   Ashwin Vasan                                                                           Oct 13                     13                                                                                Aug 11 - Jun 12

   TT INTERNATIONAL FUND                                        31 Aug 89         M       $406M        7,327.65    31 Oct   0.64%     3.03%     4.27%    -14.09%     13.52%        8.51%    14.38%       (27.05%)
   Tacchi Tim                                                                             Oct 13                     13                                                                                Jan 94 - Jan 95

   TUDOR B.V.I GLOBAL FUND LTD -A-                              31 Oct 86         Q      $6'881 M     121,469.24   22 Nov   1.87%     9.44%     5.41%    2.17%       7.41%        19.39%    18.79%       (17.07%)
   Paul Tudor Jones                                                                       Oct 13                     13                                                                                Apr 92 - Jul 92

   TUDOR B.V.I GLOBAL FUND LTD -A- ALT SERIES 01                31 Dec 11         Q      $5'620M      122,916.26   22 Nov   1.95%     9.85%     6.27%       -                      8.51%    7.30%         (4.37%)
   Paul Tudor Jones                                                                      May 13                      13                                                                                May 12 - Jun 12



1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                             HSBC Alternative Investment Group            |      39
Source - HSBC
                                                              Inception     Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012     2011    2010     Ann. Return   Ann. Vol       Max
                                                                Dates                   Size         Index                                                                                     Drawdown1
                                                                                                                              Ytd Avg. 2013
Diversified/Global                                                                                                                6.49%
   TUDOR DISCRETIONARY MACRO FUND CLASS I                       30 Jun 12        Q      $1'397M      1,118.93   22 Nov   1.25%    8.82%     2.82%                         8.37%    7.51%         (7.35%)
   Series 01                                                                             Oct 13                   13                                                                          Jun 13 - Oct 13
   Multi-PM Platform

Fixed Income
Ytd Avg. 2013   (4.38%)
                                                                                                                             Ytd Avg. 2013
Fixed Income/Global                                                                                                             (4.38%)
   AVIVA INVESTOR FIXED INCOME MACRO (Tranche 2)                30 Jun 09        M      $274M         11.61     15 Nov (0.69%) (5.66%)     2.31%    7.55%    6.39%        3.47%    3.38%         (6.04%)
   Shahid Ikram                                                                         Sep 13                    13                                                                          Feb 13 - Nov 13

   BREVAN HOWARD INVEST. FUND - EMERGING                        31 May 10        W      $1'136M       112.56    31 Oct   0.33%   (3.10%)   7.21%    2.97%    5.21%        3.52%    4.89%         (4.57%)
   MARKETS LOCAL FIXED INCOME FUND                                                       Aug 13                   13                                                                          Feb 13 - Aug 13
   Filippo Cipriani, Brevan Howard Asset Management

Systematic
Ytd Avg. 2013   (11.16%)
                                                                                                                              Ytd Avg. 2013
Systematic/Global                                                                                                               (11.16%)
   EAGLE QUANTITATIVE MACRO FUND LTD                            30 Sep 06        M       $569M        169.84    31 Oct   2.63% (11.16%)     8.57%    4.2%    4.82%        7.76%    14.36%       (16.58%)
   Eagle Trading Systems Inc. (Menachem Sternberg)                                       Oct 13                   13                                                                          May 12 - Sep 13




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                    HSBC Alternative Investment Group            |      40
Source - HSBC
                                                              Inception     Liquidity   Asset     Last NAV or   Date     MTD     YTD        2012      2011     2010     Ann. Return   Ann. Vol       Max
                                                                Dates                   Size         Index                                                                                        Drawdown1

Commodity
Ytd Avg. 2013   15.16%
                                                                                                                              Ytd Avg. 2013
Commodity/Global                                                                                                                 15.16%
   CUMULUS ENERGY FUND CLASS A USD                              30 Sep 06        M       $346M        576.75    22 Nov   1.05% 15.16%       24.55%    99.63%   -10.68%      27.77%    36.21%       (41.27%)
   Peter Brewer                                                                          Oct 13                   13                                                                             Sep 07 - Apr 08

Currency
Ytd Avg. 2013   (15.62%)
                                                                                                                             Ytd Avg. 2013
Currency/Global                                                                                                                (15.62%)
   ORTUS FUND (CAYMAN) LTD                                      30 Sep 03        M       $129M        199.00    15 Nov (1.37%) (15.62%) -17.33%        5.7%    27.89%        7.03%    12.29%       (31.32%)
   Dr Joe Zhou                                                                           Oct 13                   13                                                                             Jan 12 - Nov 13

Systematic
Ytd Avg. 2013   0.51%
                                                                                                                              Ytd Avg. 2013
Systematic/Global                                                                                                                 0.51%
   AHL DIVERSIFIED                                              29 Feb 96        W       $527M        88.23     22 Nov   0.06% (3.41%)      -2.22%    -5.9%    16.02%       13.06%    16.92%       (19.53%)
   Tim Wong, Matthew Sargaison                                                           Jul 13                   13                                                                             Oct 01 - Apr 02

   AHL EVOLUTION USD                                            31 Aug 05        M      $1'518M        1.16     22 Nov   1.89%   13.92%     23.53%    10.53%   19.83%       15.32%    12.86%       (13.16%)
   Tim Wong , Matthew Sargaison                                                          Jul 13                   13                                                                             Jun 08 - Oct 08

   ASPECT DIVERSIFIED FUND - CLASS A                            30 Nov 98        W      $1'475M       303.32    27 Nov   1.84%   (4.58%)    -10.66%   4.51%    15.36%        7.68%    16.08%       (21.47%)
   Anthony Todd                                                                          Jun 13                   13                                                                             Feb 04 - Jan 05

   BEACH HORIZON FUND LTD                                       30 Apr 05        M       $64M         188.28    31 Oct   3.36%   (6.82%)    -19.51%   -1.14%    8.65%        7.72%    18.31%       (32.50%)
   David Beach, Sanjeev Lakhanpal, Paul Netherwood                                       Apr 13                   13                                                                             Apr 11 - Sep 13

   BLUETREND FUND, LTD - CLASS A                                31 Mar 04        M      $9'500M       280.42    31 Oct   3.82%   (8.92%)    0.02%     0.32%    15.98%       11.35%    14.23%       (19.55%)
   Michael Platt & Leda Braga                                                            Oct 13                   13                                                                             Apr 11 - Sep 13

   BORONIA DIVERSIFIED FUND MASTER                              31 Aug 93        M       $98M        1,762.27   26 Nov   2.48%    8.79%     -3.99%    -8.75%    9.44%        9.26%    11.66%       (14.56%)
   Richard Grinham and Angus Grinham                                                     Oct 13                   13                                                                             Feb 08 - Apr 12

   CAMPBELL GLOBAL ASSETS FUND LTD Class A                      31 Jan 98        M       $149M       3,855.33   22 Nov (0.01%)   11.16%     4.52%     -2.92%    14%          8.91%    13.29%       (21.17%)
   Campbell & Company                                                                    Oct 13                   13                                                                             Jun 07 - Jan 10

   CAMPBELL GLOBAL ASSETS FUND LTD Class B                      30 Jun 02        M       $149M       3,225.79   22 Nov   0.09%   10.31%     1.84%     1.83%     20.3%        6.71%    11.61%       (22.92%)
   Campbell & Company                                                                    Oct 13                   13                                                                             Jun 07 - Aug 07

   CCP QUANTITATIVE FUND US$ ARISTARCHUS SH.                    28 Feb 07        M      $1'086M      1,533.07   22 Nov   0.84%   (24.22%)   15.32%    12.84%    2.48%        6.78%    15.65%       (29.94%)
   Ewan Kirk, Erich Schlaikjer, Cantab Capital                                           Oct 13                   13                                                                             Apr 13 - Aug 13

   CONQUEST MACRO FUND, LTD (COMP)                              30 Apr 99        M      $157M        1,844.36   27 Nov (3.58%) (12.95%)     -33.16%   -5.67%    4.92%        4.28%    19.48%       (56.21%)
   Marc Malek                                                                           Aug 13                    13                                                                             Jul 09 - Mar 13


1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                      HSBC Alternative Investment Group             |     41
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or    Date     MTD     YTD        2012      2011      2010     Ann. Return    Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                           Drawdown1
                                                                                                                                Ytd Avg. 2013
Systematic/Global                                                                                                                   0.51%
   CRABEL FUND SPC LTD CLASS A                                  28 Feb 98         M       $355M       5,286.56    22 Nov   1.49%    0.42%     15.53%    -1.93%     8.33%       11.16%     16.32%       (16.71%)
   Toby Crabel                                                                            Oct 13                    13                                                                               Oct 98 - Jun 99

   DB PLATINUM IV DBX SYSTEMATIC ALPHA INDEX                    30 Jun 10         W      $1'267M       113.27     20 Nov   0.74%    4.38%     -3.96%    4.85%      7.76%        3.74%     7.68%         (7.87%)
   FUND - CLASS I1CU                                                                      Sep 13                    13                                                                               Apr 13 - Aug 13
   DB Platinum Advisors
   DISCUS FEEDER LTD CL. B USD STANDARD                         31 Dec 90         M       $424M        979.02     22 Nov (0.35%) (12.88%)     -13.88%   21.95%    -6.67%       10.73%     15.74%       (34.56%)
   LEVERAGE                                                                               Oct 13                    13                                                                               Jun 94 - Oct 95
   Team managed
   EAGLE GLOBAL FUND                                            30 Sep 95         M       $191M      828,577.76   22 Nov (2.78%) (20.99%)      8.1%     8.82%     17.68%       12.35%     23.37%       (32.13%)
   Menachem Sternberg                                                                     Oct 13                    13                                                                               Oct 03 - Sep 04

   EDGESTREAM NIAS FUND                                         30 Jun 04         M      $161M         181.86     22 Nov   2.11%    9.60%     -0.82%    -4.52%     10.8%        6.57%     6.94%         (9.76%)
   Edgestream Partners, LP                                                               Sep 13                     13                                                                               Dec 04 - Sep 05

   FORT GLOBAL DIVERSIFIED                                      30 Sep 93         D      $91M         2,230.72    22 Nov (0.24%)   (2.01%)    7.12%     39.95%    34.46%       16.65%     19.46%       (26.55%)
   Yves Balcer, Sajiv Kumar                                                              Nov 13                     13                                                                               May 99 - Sep 00

   GRAHAM GIF II PROPRIETARY MATRIX SP SIES A                   30 Jun 99         M       $950M        319.63     26 Nov   2.91%    9.94%     -0.07%    -9.85%    10.56%        8.39%     11.94%       (17.90%)
   Kenneth G. Tropin                                                                      Oct 13                    13                                                                               Apr 11 - Nov 12

   GRAHAM GLOBAL INVESTMENT FUND II - K4D-10V                   31 Jan 95         M      $2'521M       365.92     26 Nov   3.38%    9.07%     -4.91%    -13.12%    0.77%        7.13%     12.29%       (20.70%)
   Kenneth G. Tropin                                                                      Oct 13                    13                                                                               Apr 11 - Nov 12

   GRAHAM GLOBAL INVESTMENT FUND II - K4D-15V -                 31 Dec 00         M      $2'521M       220.42     26 Nov   5.09%   13.73%     -7.15%    -18.64%    4.52%       10.39%     19.41%       (29.84%)
   COMPOSITE                                                                              Oct 13                    13                                                                               Feb 04 - Apr 05
   Kenneth G. Tropin
   HIGHBRIDGE QUANTITATIVE COMMODITIES FUND                     30 Sep 09         M      $332M         940.80     31 Oct   (0.07%) (14.67%)   -17.36%   -4.27%    31.32%       (1.48%)    19.61%       (44.35%)
   CLASS A                                                                               Aug 13                     13                                                                               Apr 11 - Jun 13
   Sassan Alizadeh
   HIGHBRIDGE QUANTITATIVE COMMODITIES FUND                      31 Jul 11        M      $332M         601.80     31 Oct   (0.10%) (14.85%)   -17.57%   -14.26%                (20.17%)   14.97%       (40.42%)
   CLASS B                                                                               Aug 13                     13                                                                               Aug 11 - Jun 13
   Sassan Alizadeh
   KEYNES LEVERAGED QUANTITATIVE STRATEGIES                     31 Dec 04         M      $241M         100.70     22 Nov (0.19%)   (6.72%)    6.54%     -5.89%     6.47%        6.63%     12.17%       (12.83%)
   FUND CLASS - B -COMPOSITE                                                             Sep 13                     13                                                                               Apr 06 - Sep 06
   Sushil Wadhwani,
   LYNX (BERMUDA) LTD                                           30 Apr 00         M      $477M         455.47     26 Nov   3.84%    6.32%     -6.71%    -2.25%    19.17%       11.81%     14.32%       (14.72%)
   Jonas Bengtsson, Svante Bergstrom, Martin Sandquist                                   Aug 13                     13                                                                               Sep 11 - Aug 13

   LYNX BERMUDA 1.5 LTD                                         30 Apr 08         M      $419M         142.84     26 Nov   5.76%    9.32%     -10.82%   -4.08%    28.83%        6.60%     22.62%       (22.55%)
   Jonas Bengtsson, Svante Bergstrom, Martin Sandquist                                   Aug 13                     13                                                                               Sep 11 - Aug 13

   MLIS - GRAHAM CAPITAL SYSTEMATIC MACRO                       30 Nov 10         D       $80M         80.04      26 Nov   3.46%    9.54%     -10.09%   -20.38%    2.07%       (7.17%)    12.94%       (31.34%)
   UCITS FUND                                                                            Sep 13                     13                                                                               Feb 11 - Nov 12
   Graham Capital Management L.P.


1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                         HSBC Alternative Investment Group              |      42
Source - HSBC
                                                              Inception      Liquidity   Asset      Last NAV or   Date     MTD       YTD       2012     2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size          Index                                                                                         Drawdown1
                                                                                                                                Ytd Avg. 2013
Systematic/Global                                                                                                                   0.51%
   RENAISSANCE INSTITUTIONAL FUTURES FUND LP                    30 Sep 07         M        $72M         115.97    22 Nov   0.85% (0.37%)      -3.17%    1.84%     22.61%        2.44%    11.23%       (22.27%)
   Renaissance Technologies LLC                                                           Sep 13                    13                                                                              Jun 08 - Jun 09

   SOLAISE SYSTEMATIC FUND LTD ( S Class)                       31 May 11         M       $310M         94.78     22 Nov   0.10%     (0.11%)   -0.15%   -4.97%                 (2.14%)   11.89%       (13.61%)
   Ali Nejjar                                                                             Oct 13                    13                                                                              Aug 11 - Aug 13

   TEWKSBURY INVESTMENT FUND, LTD - B                           31 Dec 90         M      $2'717M      16,514.96   22 Nov (0.40%)     6.34%     3.53%    4.55%     10.47%       13.02%    4.70%         (7.75%)
   Matthew Tewksbury                                                                      Sep 13                    13                                                                              Jun 07 - Aug 07

   TRADELINK INTEGRATED PROGRAM LTD                             31 Dec 93         M       $67M         2,292.31   22 Nov   1.69%     4.34%     -6.33%   -21.27%   16.01%       17.04%    22.78%       (36.53%)
   Walt Weissman and Blair Wellensiek                                                     Oct 13                    13                                                                              May 03 - Jan 05

   TUDOR TENSOR FUND LIMITED CLASS I                            31 Aug 05         M      $278 M        1,387.22   22 Nov (1.75%)     (7.04%)   -2.17%   -10.31%    6.19%        4.06%    11.59%       (21.56%)
   Steve Evans                                                                           Sep 13                     13                                                                              Feb 11 - Nov 13

   TULIP TREND FUND, LTD - A                                    31 Mar 03         M       $525M        3,452.35   22 Nov   0.52%     (6.19%)   4.89%    -20.93%   38.39%       12.33%    25.68%       (34.25%)
   Progressive Capital Partners Ltd                                                       Jun 13                    13                                                                              Feb 09 - Jan 10

   TWO SIGMA COMPASS CAYMAN FUND                                 31 Jul 09        M       $817M        1,792.59   31 Oct   (0.79%)   13.92%    4.23%    2.33%     26.02%       14.69%    8.20%         (9.85%)
   Two Sigma Investments, LLC                                                             Oct 13                    13                                                                              Apr 11 - Sep 11

   WINTON EVOLUTION FUND (THE)                                  31 Aug 05         M       $42M         1,499.96   27 Nov   3.31%     14.03%    -8.31%   3.83%     15.12%        5.04%    10.70%       (14.61%)
   David Harding                                                                          Oct 13                    13                                                                              Jun 08 - Jul 09

   WINTON FUTURES FUND - CLASS B                                30 Sep 97         M      $10'086M       893.06    27 Nov   2.03%     8.82%     -3.56%   6.29%     14.48%       14.50%    17.13%       (25.08%)
   David Harding                                                                          Oct 13                    13                                                                              Oct 01 - Feb 02




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                         HSBC Alternative Investment Group             |      43
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012      2011     2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                       Drawdown1

Discretionary
Ytd Avg. 2013   7.87%
                                                                                                                               Ytd Avg. 2013
Discretionary/Asia                                                                                                                 5.06%
   AMAZON MARKET NEUTRAL FUND CLASS A USD                       31 Aug 05         M       $329M        371.96    22 Nov   0.65%    5.06%     1.85%    11.56%    21.8%       17.30%    12.12%       (20.20%)
   Philip King                                                                            Oct 13                   13                                                                            Jun 08 - Dec 08
                                                                                                                               Ytd Avg. 2013
Discretionary/Europe                                                                                                               1.33%
   EXANE MICROMEGAS FUND LTD- CLASS A - CAP                     30 Jun 06         W       €60M       14,706.71   26 Nov   1.57%    1.33%     -5.74%   1.38%     4.62%        3.43%    5.37%         (8.06%)
   Jerome Poirel                                                                          Oct 13                   13                                                                            Feb 12 - Sep 13
                                                                                                                               Ytd Avg. 2013
Discretionary/Global                                                                                                               9.10%
   BLACK DIAMOND RELATIVE VALUE LTD -C-Shs                       31 Jul 99        Q       $793M        332.23    22 Nov   1.65%    6.13%     9.48%    -3.25%    1.48%        8.74%    5.40%         (8.09%)
   Clint Carlson                                                                          Oct 13                   13                                                                            Mar 11 - Sep 11

   MARSHALL WACE - MW MARKET NEUTRAL TOPS A                     31 Oct 07         M       $534M        133.54    26 Nov   0.33%   14.37%    15.02%    3.18%    -0.21%        4.87%    6.66%        (15.98%)
   USD                                                                                    Jul 13                   13                                                                            Jun 08 - Nov 08
   Anthony Clake.
   MLIS - MARSHALL W. TOPS UCITS FUND (MKT NTRL)                31 Dec 07         D      €579M         120.02    26 Nov   0.07%    6.79%     6.07%    3.46%     0.3%         3.14%    4.65%        (11.63%)
   Marshall Wace LLP                                                                     Sep 13                    13                                                                            Jun 08 - Oct 08
                                                                                                                              Ytd Avg. 2013
Discretionary/Japan                                                                                                              12.59%
   EQUILIBRIA JAPAN FUND LTD 1X USD                             30 Apr 02         M       $173M        234.31    22 Nov (1.07%) 8.02%       -3.55%    -0.13%    5.58%        7.63%    4.56%         (7.20%)
   James Pulsford, Sara Gardiner-Hill                                                     Oct 13                   13                                                                            Jul 11 - Dec 12

   EQUILIBRIA JAPAN FUND LTD 2X (USD)                           30 Apr 09         M       $330M        144.83    22 Nov (2.14%) 17.16%      -6.6%     -0.5%    10.87%        8.45%    8.44%        (13.42%)
   James Pulsford, Sara Gardiner-Hill                                                     Oct 13                   13                                                                            Jul 11 - Dec 12
                                                                                                                              Ytd Avg. 2013
Discretionary/UK                                                                                                                  5.98%
   ABSOLUTE INSIGHT UK EQUITY MKT NEUTRAL                       31 May 08         D      €1'030M        1.21     27 Nov 0.37%     2.95%     3.49%      2.3%     1.9%         3.23%    1.38%         (0.63%)
   FUND-CLASS B2P GBP                                                                     Jul 13                   13                                                                            Jul 13 - Sep 13
   Andrew Cawker, Iain Brown, Richard Howarth
   CAZENOVE UK ABSOLUTE TARGET FUND - P2 GBP                    30 Jun 08         D      £247M         124.08    26 Nov (1.03%)    9.02%     4.08%    11.24%   -7.62%        4.07%    5.48%         (9.96%)
   Steven Cordell                                                                        Dec 12                    13                                                                            Sep 09 - Dec 10

Equity Diversified
Ytd Avg. 2013   9.22%
                                                                                                                               Ytd Avg. 2013
Equity Diversified/Asia                                                                                                            7.26%
   MACQUARIE ASIAN ALPHA FUND                                   30 Sep 05         M      $970M        1,808.66   22 Nov   0.40%    6.85%     4.41%    9.11%    10.29%        9.72%    6.34%        (14.05%)
   Nick Bird                                                                             Sep 13                    13                                                                            Oct 07 - Apr 09


1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                      HSBC Alternative Investment Group             |      44
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012      2011     2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                       Drawdown1
                                                                                                                               Ytd Avg. 2013
Equity Diversified/Asia                                                                                                            7.26%
   PAN ASIA OPPORTUNITIES FUND LTD CLASS B                       31 Jul 10        M      $1'142M       127.50    22 Nov   0.89%    7.68%     2.92%     9.6%     4.96%        7.60%    5.35%         (3.62%)
   Jeff Shen, Ryan Kim, Ryan LaFond, Jan Bratteberg                                       Nov 13                   13                                                                            Jul 11 - Oct 11
                                                                                                                               Ytd Avg. 2013
Equity Diversified/Europe                                                                                                         11.35%
   BLACKROCK EUROPEAN DIVERSIFIED EQUITY A.R.F                  30 Sep 10         D      €153M         119.91    27 Nov   3.18% 14.20%       -0.35%   -4.05%    6.52%        4.89%    5.88%        (13.12%)
   - SHARE CLASS D                                                                       Nov 12                    13                                                                            Mar 11 - May 12
   Robert Fisher/Simon Weinberger
   GAM TALENTUM ENHANCED EUROPE LONG/SHORT - 30 Nov 04                            M       €249M        250.30    22 Nov   1.33%   14.03%    16.65%    2.91%    18.43%       10.75%    9.06%        (25.03%)
   A-                                                                                     Oct 13                   13                                                                            Jun 08 - Apr 09
   Gianmarco Mondani / Roberto Cantaluppi / Paolo
   Longinotti
   GLG EUROPEAN EQUITY ALTERNATIVE FUND UCITS                   30 Jun 11         D      $1'309M       114.46    26 Nov   0.10%    5.81%     6.19%    1.87%                  5.76%    4.31%         (3.45%)
   AR CL I                                                                                Sep 13                   13                                                                            Apr 12 - Aug 12
   Pierre Lagrange, Simon Savage, Darren Hodges
                                                                                                                               Ytd Avg. 2013
Equity Diversified/Global                                                                                                          6.72%
   TWO SIGMA ABSOLUTE RETURN FUND LTD                           31 Oct 11         M       $453M       1,123.83   31 Oct   1.08%    6.72%     4.03%    1.23%                  6.00%    5.24%         (3.30%)
   Two Sigma Advisers, LLC                                                                Oct 13                   13                                                                            Jun 13 - Aug 13

Multi-Strategy
Ytd Avg. 2013   4.58%
                                                                                                                              Ytd Avg. 2013
Multi-Strategy/Asia                                                                                                               5.23%
   LIM ASIA MULTI-STRATEGY FUND CLASS A                         31 Dec 95         Q      $1'199M       37.20     22 Nov (0.21%) 5.23%        3.57%    -0.23%    8.6%         7.61%    5.78%        (15.79%)
   George W. Long                                                                         Oct 13                   13                                                                            Feb 08 - Nov 08
                                                                                                                              Ytd Avg. 2013
Multi-Strategy/Global                                                                                                             3.94%
   HUDSON BAY INTERNATIONAL FUND LTD                            31 May 06         Q      $1'134M       227.81    07 Nov 0.30%     3.94%     11.37%    4.31%     8.44%       11.69%    5.06%         (3.92%)
   Hudson Bay Capital Management LP                                                       Oct 13                   13                                                                            Nov 07 - Dec 07

Statistical Arbitrage
Ytd Avg. 2013   2.03%
                                                                                                                              Ytd Avg. 2013
Statistical Arbitrage/Global                                                                                                      2.03%
   A.R.T. INTERNATIONAL INVESTOR (BVI) Ltd                      28 Feb 07         Q       $919M        215.66    20 Nov (0.93%) 4.39%       5.67%     7.88%     6.75%       12.09%    8.13%        (10.48%)
   Aaron Sosnick                                                                          Oct 13                   13                                                                            Jul 07 - Aug 07

   BLUEMATRIX FUND CLASS -A- USD                                31 Oct 07         M      $1'400M       143.79    31 Oct   5.42%    9.32%    -2.49%    -1.42%    6.45%        6.23%    7.15%         (9.96%)
   Frank Fehle, Systematic Team                                                           Oct 13                   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             |      45
Source - HSBC
                                                              Inception      Liquidity   Asset     Last NAV or   Date     MTD     YTD       2012      2011     2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size         Index                                                                                       Drawdown1
                                                                                                                               Ytd Avg. 2013
Statistical Arbitrage/Global                                                                                                       2.03%
   CAMPBELL GLOBAL ASSETS FUND LTD Class D                      31 Dec 00         M       $149M       1,129.12   22 Nov   0.22% (3.31%)      -10.1%   18.36%   17.47%        8.54%    10.30%       (22.98%)
   Campbell & Company                                                                     Oct 13                   13                                                                            Feb 06 - Aug 07

   GSA CAPITAL INTERNATIONAL FUND, LTD - CLASS A                28 Feb 05         Q      $1'380M       233.02    22 Nov   1.23%   11.92%     3.64%    15.2%    12.08%       10.17%    4.49%        (11.91%)
   Jonathan Hiscock                                                                       Oct 13                   13                                                                            Jun 08 - Sep 08

   HIGHBRIDGE STATISTICAL OPP. LTD – CLASS A                    31 Oct 06         M       $729M       1,148.35   15 Nov (0.07%) (12.17%)     5.2%      3.1%    -2.39%        1.98%    10.14%       (21.48%)
   Peter Beebee, Jerome Benveniste, Evan Dick, Alain                                      Jan 13                   13                                                                            Jun 07 - Aug 07
   Sunier

Systematic
Ytd Avg. 2013   7.17%
                                                                                                                               Ytd Avg. 2013
Systematic/Europe                                                                                                                 18.88%
   BLACKROCK EOS CLASS B USD COMPOSITE                          28 Feb 02         M      $172M        1,433.08   26 Nov   3.27% 18.88%       3.49%    -3.11%   13.64%        9.95%    8.69%        (14.33%)
   Robert Fisher, Simon Weinberger                                                       Nov 13                    13                                                                            Jul 07 - Jan 08
                                                                                                                               Ytd Avg. 2013
Systematic/Global                                                                                                                  3.26%
   BLACKROCK 32 CAPITAL MASTER FUND SPC, LTD                     31 Jul 02      Y/M      $1'079M      2,131.82   22 Nov   1.39%    8.30%     9.41%    24.92%   20.38%        6.92%    7.46%        (25.15%)
   (THE) - A/1                                                                            Nov 13                   13                                                                            Jun 08 - Sep 09
   Raffaele Savi and Ken Kroner
   BRYN MAWR OFFSHORE LTD                                       31 Dec 95         Q      $117M        4,902.99   22 Nov (0.04%)    0.19%     6.61%    0.56%     5.96%        9.28%    4.05%         (4.11%)
   Kenneth B. Gray, Jr. & Stephen L. Walsh                                               Sep 13                    13                                                                            Oct 99 - Dec 99

   ROSEMONT OFFSHORE FUND LTD CLASS -A-                         30 Apr 06         Q      $173M        1,900.41   31 Oct   0.56%    1.30%     6.58%    0.49%     5.96%        8.92%    4.60%         (3.63%)
   SERIES 1                                                                              Sep 13                    13                                                                            Aug 08 - Nov 08
   Kenneth B. Gray, Jr. & Stephen L. Walsh




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                      HSBC Alternative Investment Group             |      46
Source - HSBC
                                                              Inception     Liquidity   Asset     Last NAV or   Date     MTD     YTD        2012     2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                   Size         Index                                                                                        Drawdown1

Merger-Arbitrage
Ytd Avg. 2013   7.68%
                                                                                                                               Ytd Avg. 2013
Merger-Arbitrage/Global                                                                                                            8.85%
   AETOS CORPORATION - CLASS A                                  31 Dec 85        M       $95M       26,030.74   31 Oct   (0.21%) 0.89%       1.25%   4.33%      6.57%        8.78%    11.37%       (34.97%)
   Jason Dahl, Jonathan Spitzer                                                         Aug 13                    13                                                                             Aug 87 - Oct 87

   LION FUND, LTD (THE)                                         31 Jan 96        M      $173M         38.48     31 Oct   1.04%   (3.00%)    2.36%     4.6%      5.9%         7.79%    9.56%        (34.07%)
   Nick Walker                                                                          Aug 13                    13                                                                             Oct 07 - Feb 09

   PAULSON ENHANCED LTD                                         30 Apr 01        S      $2'200M      1,040.91   31 Oct   0.22%    25.39%    19.6%    -21.55%   26.08%       20.59%    15.98%       (30.43%)
   John Paulson                                                                          Feb 13                   13                                                                             Apr 11 - Sep 11

   PAULSON INTERNATIONAL, LTD                                   30 Apr 96        M      $1'495M       869.97    31 Oct   0.13%    12.13%    9.07%    -10.17%   12.57%       12.61%    7.89%        (15.52%)
   John Paulson                                                                          Feb 13                   13                                                                             May 11 - Sep 11
                                                                                                                              Ytd Avg. 2013
Merger-Arbitrage/USA                                                                                                              2.97%
   GABELLI ASSOCIATES LIMITED - CLASS A                         31 Aug 89        M      $119M         599.91    22 Nov   0.07%    2.97%     2.55%    3.03%      6.22%        7.67%    3.26%         (6.65%)
   Mario Gabelli                                                                        Dec 12                    13                                                                             Oct 07 - Oct 08




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                      HSBC Alternative Investment Group             |      47
Source - HSBC
                                                              Inception     Liquidity   Asset     Last NAV or   Date     MTD     YTD        2012      2011     2010     Ann. Return   Ann. Vol       Max
                                                                Dates                   Size         Index                                                                                        Drawdown1

Credit
Ytd Avg. 2013   16.65%
                                                                                                                              Ytd Avg. 2013
Credit/Europe                                                                                                                    16.29%
   CHENAVARI MULTI STRATEGY CREDIT FUND - MS2 €                 31 Jan 12        M       $145M        124.10    31 Oct   2.31% 16.29%       6.72%                           13.12%    4.25%         (0.45%)
   Chenavari Investment Managers                                                         Oct 13                   13                                                                             Jul 13 - Aug 13
                                                                                                                              Ytd Avg. 2013
Credit/Global                                                                                                                    17.02%
   CANYON BALANCED FUND LTD - CLASS A                           31 May 04        Q      $2'300M      3,288.56   31 Oct   2.48% 17.02%       20.52%    -4.57%   14.29%       13.46%    10.52%       (30.14%)
   M.R. Julis & J.S. Friedman                                                            Oct 13                   13                                                                             Oct 07 - Nov 08

Diversified
Ytd Avg. 2013   8.89%
                                                                                                                               Ytd Avg. 2013
Diversified/Asia                                                                                                                   6.40%
   PHALANX JAPAN AUSTRALASIA MULTI-STRATEGY                     31 Mar 05        Q       $94M        1,455.73   31 Oct   (0.81%) 12.95%      11.48%   4.79%     5.79%       36.57%    27.29%       (30.13%)
   FUND LTD                                                                             Sep 13                    13                                                                             Apr 06 - Mar 07
   Christopher S. McGuire
   SEGANTII ASIA-PACIFIC EQUITY MULTI-STRATEGY                  30 Nov 07        M       $736M        219.59    22 Nov (1.86%)    (0.15%)   4.81%     40.75%    1.72%       14.05%    7.81%         (6.76%)
   FUND                                                                                  Oct 13                   13                                                                             May 13 - Nov 13
   Simon Sadler & Kurt Ersoy
                                                                                                                              Ytd Avg. 2013
Diversified/Emerging                                                                                                              7.66%
   CONTRARIAN EMERGING MARKETS OFF FUND LTD                     31 Dec 05        Q       $417M        311.15    31 Oct   7.29% 12.71%       23.2%     -7.16%   33.16%       15.58%    14.06%       (28.43%)
   Xiao Song                                                                             Oct 13                   13                                                                             Feb 08 - Oct 08

   SPINNAKER GLOBAL EMERGING MARKETS FUND,                      30 Jun 99        Q      $1'329M      1,987.41   15 Nov   0.05%    2.62%     20.69%    -9.31%   12.56%       23.09%    11.66%       (33.11%)
   LTD                                                                                   Sep 13                   13                                                                             May 08 - Feb 09
   Bradley Wickens
                                                                                                                              Ytd Avg. 2013
Diversified/Global                                                                                                                9.08%
   AHL DIMENSION USD SHARES CLASS B                             30 Jun 06        M       $69M          1.47     22 Nov   0.75%    5.23%     3.02%     -5.83%   16.72%        5.37%    9.44%        (10.62%)
   Tim Wong, Nick Granger                                                                Oct 13                   13                                                                             Dec 08 - Jan 10

   ALLBLUE LIMITED                                              31 Aug 05        M      $8'100M       193.99    31 Oct   1.90%    0.76%     5.96%     1.87%     8.06%        8.45%    4.76%         (4.51%)
   Michael Platt                                                                         Oct 13                   13                                                                             Jun 07 - Aug 07

   ARROWGRASS MASTER FUND                                       31 Jan 08        Q      €3'105M       158.49    22 Nov (0.14%)    6.79%      5.6%     0.12%     4.22%        8.24%    4.11%         (3.99%)
   Nick Niell , Henry Kenner                                                             Oct 13                   13                                                                             Apr 11 - Sep 11

   BLACK DIAMOND, LTD - CLASS B (UNRESTRICTED)                  31 Dec 95        Q       $100M        336.01    22 Nov   1.44%    5.39%     10.27%    -0.69%    5.66%        7.00%    4.05%        (18.58%)
   Clint D. Carlson                                                                      Oct 13                   13                                                                             Aug 08 - Dec 08




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                      HSBC Alternative Investment Group             |      48
Source - HSBC
                                                              Inception      Liquidity   Asset      Last NAV or   Date     MTD       YTD       2012     2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size          Index                                                                                         Drawdown1
                                                                                                                                Ytd Avg. 2013
Diversified/Global                                                                                                                  9.08%
   BLACKROCK MULTI-STRATEGY FUND LTD - CLASS A                  30 Apr 05         M      $1'488M       1,502.16   31 Oct   0.86%    5.03%     7.86%     2.43%      10.2%        4.90%    5.55%        (13.96%)
   Grace Gu                                                                               Oct 13                    13                                                                              Jun 08 - Dec 08

   BLACKROCK CAPITAL STRUCTURE INVESTMENTS                      31 Dec 08         M       $440M         128.01    31 Oct   1.16%     4.20%     3.74%    22.94%     1.18%        5.24%    7.75%         (7.83%)
   FUND LTD                                                                               Oct 13                    13                                                                              Mar 09 - Apr 09
   Chad Meuse, Benoy Thomas
   BLUECREST CAPL INTL LTD A USD                                30 Nov 00         Q      $11'700M       435.43    31 Oct   0.71%     (1.02%)   5.82%     6.1%     12.82%       12.05%    5.56%         (4.83%)
   Michael Platt                                                                          Oct 13                    13                                                                              May 03 - Aug 03

   BOUSSARD & GAVAUDAN HOLDING., LTD ordinary                   31 Jan 07         D       €573M         16.19     20 Nov   2.17%     10.03%    9.45%    -2.59%    11.49%        6.06%    7.00%        (20.69%)
   shares                                                                                 Aug 13                    13                                                                              May 07 - Sep 08
   Emmanuel Gavaudan
   BREVAN HOWARD M/S FUND, LTD – CL. A/USD                      29 Feb 08         M      $4'370M        127.07    31 Oct   (0.05%)   (0.51%)   4.61%     5.2%      2.12%        4.31%    4.73%         (6.29%)
   Alan Howard                                                                            Oct 13                    13                                                                              Feb 08 - Sep 08

   BRUMMER MULTISTRATEGY 2XL, LTD - C -                         30 Apr 09         M       $434M        1,375.37   15 Nov   1.10%     11.27%    3.55%    1.02%      5.05%        7.26%    6.58%         (6.56%)
   Klaus Jäntti, Patrik Brummer                                                           Nov 12                    13                                                                              Apr 11 - Nov 11

   BTG PACTUAL GLOBAL EQUITY OPPORTUNITIES FD                   29 Feb 12         Q       $338M         117.33    15 Nov   0.25%     8.26%     7.42%                            9.21%    3.15%         (1.50%)
   -B-NNI                                                                                 Oct 13                    13                                                                              Aug 12 - Oct 12
   BTG Pactual Global Asset Management
   CQS DIRECTIONAL OPP. FEEDER FUND. Ltd – A NI                  31 Jul 05        Q      $2'323M       4,500.14   31 Oct   2.72%     12.18%    35.87%   -10.42%   31.45%       19.98%    14.14%       (24.58%)
   USD                                                                                    Oct 13                    13                                                                              Apr 11 - Sep 11
   Michael Hintze
   CQS DIVERSIFIED FUND (SPC) LTD ALPHA CLASS B                 28 Feb 07         Q       $750M        1,663.12   31 Oct   0.91%     4.94%     11.4%    -3.45%    14.62%        7.91%    6.92%        (14.78%)
   USD                                                                                    Oct 13                    13                                                                              Jun 08 - Dec 08
   James Peattie & Peter Warren
   DOUBLE BLACK DIAMOND LTD - SERIES A                          31 Mar 98         Q      $2'934 M       429.89    22 Nov   1.18%     6.29%     12.04%   -1.07%     9.39%        9.76%    5.33%        (17.93%)
   (UNRESTRICTED)                                                                         Oct 13                    13                                                                              Aug 08 - Dec 08
   Clint Carlson
   GLG MARKET NEUTRAL FUND - CLASS Z USD                        31 Dec 97         M       $873M         919.81    22 Nov   0.42%     8.69%     18.4%    0.78%      33.6%       14.97%    14.85%       (54.03%)
   UNRESTRICTED                                                                           Sep 13                    13                                                                              Nov 07 - Dec 08
   Steve Roth
   HALCYON PARTNERS OFFSHORE FUND LTD                           31 May 04         Q      $2'600M        182.49    15 Nov   0.61%     6.65%     11.24%   -5.91%     8.81%        6.56%    5.54%        (15.01%)
   John M. Bader                                                                          Dec 12                    13                                                                              Oct 07 - Dec 08

   HIGHBRIDGE CAPITAL CORPORATION CLASS                         31 Aug 92       Q/Y      $4'500M      87,771.28   15 Nov   0.38%     5.46%     9.79%    -5.11%     3.98%       10.78%    7.06%        (30.04%)
   -A-Series N (Composite)                                                                Jun 13                    13                                                                              Jun 08 - Nov 08
   Mark Vanacore
   HUTCHIN HILL DIVERSIFIED ALPHA MASTER FUND                   30 Jun 08         Q      $1'060M       1,734.44   22 Nov   2.55%     16.27%    11.06%   -4.92%     6.91%       10.74%    6.54%         (7.63%)
   LTD 15% Incentive Allocation                                                           Oct 13                    13                                                                              Apr 11 - Feb 12
   Neil Chriss



1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                         HSBC Alternative Investment Group             |      49
Source - HSBC
                                                              Inception     Liquidity   Asset      Last NAV or   Date     MTD       YTD       2012     2011      2010     Ann. Return   Ann. Vol       Max
                                                                Dates                   Size          Index                                                                                         Drawdown1
                                                                                                                               Ytd Avg. 2013
Diversified/Global                                                                                                                 9.08%
   JABCAP GLOBAL BALANCED FUND LTD CLASS D/1 NI 30 Apr 07                        W      $507 M         215.60    19 Nov   1.59% 39.71%       15.5%     -27.33%    3.57%       12.42%    15.03%       (35.04%)
   Philippe Jabre                                                                       Oct 13                     13                                                                              Apr 10 - Jun 12

   JABCAP MULTI STRATEGY FUND LTD CLASS D/1 NI                  31 Jan 07        M       $532M         156.26    31 Oct   2.74%     37.83%    11.8%    -25.65%    6.5%         6.83%    17.81%       (40.20%)
   Philippe Jabre                                                                        Oct 13                    13                                                                              Feb 08 - Jan 09

   LINDEN INTERNATIONAL LTD                                     31 May 03        Q       $606M         303.27    31 Oct   3.32%     14.45%    4.11%    -7.86%    24.01%       11.23%    9.67%        (24.60%)
   Joe Wong                                                                              Oct 13                    13                                                                              Feb 08 - Dec 08

   LMR GLOBAL OPPORTUNITIES FUND LTD CLASS -A-                  31 Mar 12        M       $202M         117.90    22 Nov (0.60%)     9.79%     7.39%                           10.51%    4.20%         (1.15%)
   NI SERIES 1                                                                           Aug 13                    13                                                                              Nov 12 - Dec 12
   Ben Levine, Stefan Renold, Andrew Manuel
   MAN GLG MULTI-STRATEGY FUND CLASS G                          31 Dec 02        M       $188M         103.90    22 Nov   0.44%     3.90%     4.98%    -3.59%    13.38%        4.90%    7.46%        (30.54%)
   Neil Mason and David Kingsley                                                         Sep 13                    13                                                                              Oct 07 - Dec 08

   MILLENNIUM INTL LTD                                          31 Dec 89        Q      $19'660M      2,550.06   21 Nov   0.68%     11.31%    6.32%    8.39%     13.22%       14.49%    4.37%         (7.24%)
   Israel A Englander                                                                    Oct 13                    13                                                                              May 98 - Aug 98

   PINE RIVER FUND CLASS -B1- SHARES                            31 May 02        Q      $3'277 M      3,515.32   22 Nov (0.47%)     8.34%     21.75%    5.7%     13.87%       11.56%    10.60%       (29.16%)
   Aaron Yeary                                                                           Oct 13                    13                                                                              Jun 08 - Dec 08

   PLATINUM PARTNERS VALUE ARBITRAGE INT. FUND 31 Dec 02                         Q       $474M        6,394.19   31 Oct   (1.78%)   6.91%     11.58%   21.03%    19.27%       18.67%    5.00%         (4.44%)
   LTD                                                                                   Oct 13                    13                                                                              Aug 08 - Oct 08
   Mark Nordlicht
   PORTLAND HILL OVERSEAS FUND LTD                              31 May 12        M       $128M         120.99    22 Nov (0.04%)     12.43%    7.62%                           13.75%    4.18%         (1.30%)
   Thierry Lucas                                                                         Aug 13                    13                                                                              May 13 - Jun 13

   QVT OFFSHORE LTD CLASS 1-NR                                  31 Oct 03      Y/Q      $2'588M       2,286.40   31 Oct   (1.38%)   (1.10%)   14.69%   6.55%     12.19%        8.61%    9.78%        (40.35%)
   Dan Gold                                                                              Sep 13                    13                                                                              Feb 08 - Dec 08

   RENAISSANCE INSTITUTIONAL DIVERSIFIED ALPHA                  28 Feb 12        M      $1'627M        106.12    22 Nov   0.91%     7.48%     -1.26%                           3.48%    9.89%         (8.76%)
   FUND INTL. L.P.,A                                                                     Oct 13                    13                                                                              Mar 13 - Sep 13
   Renaissance Technologies LLC
   STRATUS FUND LIMITED CLASS B                                 30 Nov 03        M       $238M        1,997.58   22 Nov   1.72%     (1.72%)   -2.89%   15.63%     1.56%        7.17%    5.93%        (10.52%)
   Jean-Philippe Bouchaud, Philippe Jordan, Marc Potters,                                Oct 13                    13                                                                              Feb 12 - Sep 13
   Jacques Sauliere
   TWO SIGMA HORIZON CAYMAN LTD                                 30 Apr 08        Q       $331M        1,282.26   31 Oct   (0.11%)   0.31%     9.29%    -13.97%   17.76%        4.62%    9.27%        (17.85%)
   Two Sigma Investments, LLC                                                            Oct 13                    13                                                                              May 11 - Nov 11

   VISIUM GLOBAL OFFSHORE FUND LTD                              31 Mar 09        M       $679M         302.34    22 Nov   1.46%     13.82%    19.52%   1.75%     20.05%       26.87%    10.48%        (7.80%)
   Jacob Gottlieb                                                                        Oct 13                    13                                                                              Apr 10 - Jun 10

   WEISS MULTI-STRATEGY PARTNERS LLC                            30 Sep 06        Q       $212M         179.35    15 Nov   0.53%     13.42%    1.75%    -0.15%     4.98%        8.54%    6.72%        (17.75%)
   Weiss Multi-Strategy Advisers,LLC                                                     Oct 13                    13                                                                              Jun 08 - Dec 08

   WHITEBOX MULTI-STRATEGY FUND                                 31 Dec 01        Q       $426M         520.41    22 Nov   0.70%     15.85%    11.38%    1.2%     17.25%       14.87%    10.06%       (34.40%)
   Andrew Redleaf, Paul Twitchell, Rob Vogel, Jason Cross                                Sep 13                    13                                                                              Jun 08 - Dec 08




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                        HSBC Alternative Investment Group             |      50
Source - HSBC
                                                              Inception     Liquidity   Asset     Last NAV or   Date   MTD      YTD       2012     2011    2010     Ann. Return   Ann. Vol       Max
                                                                Dates                   Size         Index                                                                                    Drawdown1
                                                                                                                             Ytd Avg. 2013
Diversified/Japan                                                                                                               10.04%
   LIM JAPAN FUND                                               31 Oct 04        Q       $252M        196.37    22 Nov (0.23%) 10.04%      5.62%   2.73%   14.28%        7.73%    5.93%        (10.09%)
   George Long                                                                           Oct 13                   13                                                                         Jun 08 - Feb 09




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                   HSBC Alternative Investment Group            |    51
Source - HSBC
                                                              Inception      Liquidity   Asset      Last NAV or   Date     MTD       YTD       2012     2011     2010     Ann. Return   Ann. Vol       Max
                                                                Dates                    Size          Index                                                                                        Drawdown1

Arbitrage
Ytd Avg. 2013   (1.22%)
                                                                                                                                Ytd Avg. 2013
Arbitrage/Global                                                                                                                   (1.22%)
   BLUEMOUNTAIN EQUITY ALTERNATIVES FUND                        28 Feb 06         Q       $656M        2,206.13   22 Nov   1.30%    6.84%     12.24%    7.67%     2.67%       10.77%    6.84%         (9.57%)
   BlueMountain Capital Management                                                        Oct 13                    13                                                                             Sep 08 - Feb 09

   CASSIOPEIA FUND CLASS C                                       31 Jul 04        M       $703M         230.38    22 Nov   0.50%     0.66%     24.85%   6.52%    11.98%       12.34%    9.95%        (15.42%)
   Pierre de Saab & Alain Dos Santos                                                      Oct 13                    13                                                                             Mar 10 - Jun 10

   LIONSCREST TAILPRO -US EQUITY FUND                           31 Aug 08         M       $122M         227.96    31 Oct   (1.00%)   (5.20%)   -5.48%   4.56%    -0.12%       17.28%    46.05%       (11.64%)
   Lionscrest Capital                                                                     Oct 13                    13                                                                             Sep 11 - Oct 13

   PIMCO MULTI-ASSET VOLATILITY FUND LTD                         31 Jul 11        M      $¨1'071M       126.71    31 Oct   (0.01%)   (7.17%)   13.41%   20.36%                11.07%    8.00%         (8.42%)
   Josh Thimons, Josh Davis, Matt Dorsten                                                 Oct 13                    13                                                                             Oct 12 - Aug 13




1. Max Drawdown: Peak to trough.
Past performance is not a reliable indicator of future performance.                                                                                        HSBC Alternative Investment Group             |      52
Source - HSBC
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Actions derived from this information are always at the investors’ own risk. The document is for information purposes only and not an official confirmation of terms. If you require
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or completeness. Expressions of opinion herein are subject to change without notice.

Please note derivative instruments may involve an extremely high degree of financial risk. These risks include the risk that a small movement in the price of an underlying security
or benchmark may result in disproportionately large movement; unfavourable or favourable in the price of the derivative instrument; the risk of default by counterparty; and the risk
that transactions may not be liquid. Investments in derivatives may lead to losses exceeding the principal invested by very large amounts.

Investments in emerging markets, foreign exchange and precious metals may be extremely volatile and subject to sudden fluctuations of varying magnitude due to a wide range of direct
and indirect influences. Such characteristics can lead to considerable losses being incurred by those exposed to such markets may lead to losses exceeding the principal invested.

Products in this document may not meet the criteria of a collective investment scheme as per the Swiss Federal Act on Collective Investment Schemes (CISA) and consequently are not
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Investments in alternative investments may involve substantial risks, such as the risk to lose part or all of the investment, the absence of a regular market and illiquidity.
Therefore the investor should consult the Risk Warning Section of the prospectus/offering memorandum or any other appropriate risk disclosure document before the investment which can
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Please note private equity investments are generally illiquid, long term investments that do not display the liquid or transparency characteristics often found in other investments
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The value of any investment or income may go down as well as up and you may not receive back the full amount invested. When an investment is denominated in a currency other than your
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Because accounts are individually managed with different client preferences and cash flows, account performance within the program may vary. When comparing the performance to an
index, it should be understood that managed accounts do not necessarily hold the same securities as the index, and the index may not reflect the portfolio characteristics and asset
allocation of the accounts managed by the manager. Investors cannot directly invest in an index. Additionally, an index does not actually purchase and sell securities and its
additions and deletions are “frictionless”, meaning that no transaction costs are incurred. Managers buy and sell securities incurring transaction costs that reduce performance
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