Performance

Monthly Performance  
     Apr 2013          Mar 2013 YTD 1 Year Avg
Index / Sub Strategies Currency Value ROR Value ROR Return Return Annl* Std Dev* Sharpe*
Dow Jones Credit Suisse Hedge Fund Index USD 508.95 1.39% 501.99 1.21% 4.99% 8.70% 8.78% 7.41% 0.78
   Convertible Arbitrage USD 406.19 0.14% 405.62 0.72% 2.82% 5.97% 7.52% 6.78% 0.67
   Dedicated Short Bias USD 37.73 -3.45% 39.08 -1.91% -11.72% -17.06% -4.92% 16.77% -0.47
   Emerging Markets USD 418.55 1.62% 411.86 0.55% 6.22% 10.32% 7.69% 14.57% 0.32
   Equity Market Neutral USD 249.42 1.01% 246.93 0.05% 1.75% 1.66% 4.84% 10.11% 0.18
   Event Driven USD 571.89 1.20% 565.13 2.11% 6.03% 11.70% 9.44% 6.22% 1.04
     Distressed USD 686.64 1.34% 677.57 2.18% 6.39% 12.15% 10.48% 6.50% 1.15
     Multi-Strategy USD 522.53 1.13% 516.69 2.08% 5.90% 11.56% 8.93% 6.74% 0.88
     Risk Arbitrage USD 335.67 0.65% 333.51 0.39% 0.95% 2.16% 6.46% 4.11% 0.85
   Fixed Income Arbitrage USD 284.91 0.34% 283.95 0.61% 2.51% 9.82% 5.56% 5.60% 0.46
   Global Macro USD 853.56 1.77% 838.74 0.97% 3.97% 7.30% 11.73% 9.50% 0.92
   Long/Short Equity USD 560.16 1.26% 553.20 1.38% 6.42% 7.93% 9.32% 9.77% 0.65
   Managed Futures USD 297.30 3.50% 287.24 1.74% 7.29% 4.39% 5.80% 11.59% 0.24
   Multi-Strategy USD 443.26 1.09% 438.49 0.62% 4.22% 10.03% 8.12% 5.29% 0.97

*Average Annual Index data begins January 1994. Monthly Standard Deviation annualized. Sharpe ratio calculated using the rolling 90 day T-bill rate.



S&P 500USD 1.93% 3.75% 12.74%
Merrill Lynch All US Convertibles IndexUSD 0.00% 0.00% 3.53%
S&P Goldman Sachs Commodities IndexUSD -4.73% 0.77% -4.21%
Credit Suisse High Yield II IndexUSD 1.84% 1.03% 4.83%
Citigroup World Government Bond IndexUSD 1.07% -0.31% -1.73%
Dow Jones World IndexUSD 2.58% 1.72% 9.05%
Dow Jones World Emerging IndexUSD 0.73% -1.63% -0.46%
Dow Jones Latin America IndexUSD -0.96% -0.50% -0.38%
Dow Jones Global 1800 Asia Pacific ex Japan IndexUSD 3.77% -1.26% 8.52%
STOXX Eastern Europe Total Market IndexUSD -0.49% -3.04% -3.46%
Benchmark Indexes Disclosure


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