Hedge Weekly N°19 Investment Funds Performance Review HSBC Alternative Investment Group Week of Monday 05 May to Friday 09 May 2014 HSBC €X> Alternative Investment Products are: NOT ADEPOSITOR |NOTFDIC INSURED |NOT INSURED BY NOT GUARANTEED [SUBJECT TO OTHER OBLIGATION ANY FEDERAL BY THE BANK OR ANY INVESTMENT RISK, OF THE BANK OR GOVERNMENT OF ITS AFFILIATES —|INCLUDING POSSIBLE ANY OF ITS AGENCY OF THE LOSS OF PRINCIPAL AFFILIATES UNITED STATES INVESTED EFTA00602700

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Contents Index by Strategies Index by Funds Top/Bottom 20 Newsletter 12 About This Document 54 Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 2 EFTA00602701

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Index by Strategies Convertible Arbitrage Convertible Credit Long/Short Credit Distressed Distressed Security Equity Long/Short Equity-Commodity Equity-Diversified Equity-Energy Equity-Financial Equity-Healthcare Equity-Mid-Small Cap Equity-Pharma-Biotech Equity-Real Estate Equity-Technology Equity-Utility Event Driven Equity-Diversified Multi-Strategy Fixed Income Arbitrage Fixed Income Fund of Funds Arbitrage Event Driven Long/Short Macro Multi-Strategy Trading Long Only Equity-Diversified Macro Past performance is not a reliable indicator of future performance. Source - HSBC 12 13 18 20 21 27 28 28 28 29 29 30 30 31 31 33 34 34 34 34 35 35 36 Commodity 37 Commodity-Systematic 37 Currency 37 Diversified 38 Fixed Income 41 Systematic 41 Managed Futures Commodity 42 Currency 42 Fixed Income 42 Systematic 44 Market Neutral Discretionary 45 Equity Diversified 46 Multi-Strategy 46 Statistical Arbitrage 47 Systematic 47 Merger Arbitrage Merger-Arbitrage 48 Multi-Strategy Credit 49 Diversified 49 Volatility Arbitrage Arbitrage 53 HSBC Alternative Investment Group | 3 EFTA00602702

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Index by Funds 4 400 CAPITAL CREDIT OPPORTUNITI A A.R.T. INTERNATIONAL INVESTOR ABSOLUTE INSIGHT CREDIT FUND B ABSOLUTE INSIGHT EMERGING MARK ABSOLUTE INSIGHT UK EQUITY MKT ACUITY CORPORATE OPPORTUNITY F ADELPHI EMERGING EUROPE. FUND ADELPHI EUR. FUND $ (A) ADRIGO HEDGE AG MORTGAGE VALUE PARTNERS LTD AG SUPER FUND INTERNATIONAL, L AHL (cayman) SPC EVOLUTION USD AHL ALPHA AHL DIMENSION USD SHARES CLASS AHL DIVERSIFIED AJIA-LIGHTHORSE CHINA GROWTH F AJR INTERNATIONAL (BVI), INC. AKAMATSU FUND ALLBLUE LIMITED ALLIANCE BERNSTEIN SELECT USE ALPHA4X CAPITAL GROWTH FUND ALPHADYNE INVESTMENT STRATEGIE ALPHAGEN HOKUTO FUND LTD - CLA ALPHAGEN JAPAN ABS RETURN FD, ALPHAGEN OCTANIS CLASS A ALPHAGEN VOLANTIS FUND, LTD - ALYDAR FUND LTD 16 ea&aoa s BRS — see BSRBRSRRBSBRERRSRS ALYSHEBA FUND LIMITED AMAZON MARKET NEUTRAL FUND CLA ANAVON MASTER FUND LTD CLASS - ANDURAND COMMODITIES FUND ANTARES EUROPEAN FUND, LTD - U AQUILUS INFLECTION FUND LTD E ARCUS JAPAN FUND -JPY- ARISTEIA INTERNATIONAL LTD ARMAJARO COMMODITIES FUND CLAS ARMAJARO EMERGING MARKETS FUND ARMAJARO STS COMMODITIES FUND ARROWGRASS MASTER FUND ASCEND PARTNERS FUND II LTD - ASGARD FIXED INCOME FUND LTD ASPECT DIVERSIFIED FUND - CLAS ATLAS ENHANCED FUND LTD ATLAS FUNDAMENTAL TRADING FUND ATLAS GLOBAL INVESTMENTS LTD U AXONIC CREDIT OPPORTUNITIES OV AXONIC SYSTEMATIC ARBITRAGE OV BAF LATAM TRADE FINANCE FUND BASSO INVESTORS LTD BAY POND INVESTORS (BERMUDA), BAY RESOURCES PARTNERS OFFSHOR BCM WESTON LP (BILLINGS CAPITA BEACH POINT TOTAL RETURN OFFSH BEACONLIGHT OFFSHORE FUND LTD BLACK DIAMOND RELATIVE VALUE L BLACK DIAMOND, LTD - CLASS B ( BLACKROCK EOS CLASS B USD COM Past performance is not a reliable indicator of future performance. Source - HSBC 45 23 37 49 14 42 49 49 14 BLACKROCK MULTI-STRATEGY FUND BLACKROCK 32 CAPITAL MASTER FU BLACKROCK CAPITAL STRUCTURE IN BLACKROCK EUROPEAN DIVERSIFIED BLACKROCK FIXED INCOME GLOBAL BLACKROCK OBSIDIAN FUND BLACKROCK UK EQUITY HEDGE FUND BLUEBAY CREDIT ALPHA LONG SHOR BLUEBAY EMERGING MARKET FIXED BLUECREST CAPL INTL LTD A USD BLUECREST EMERGING MARKETS FUN BLUECREST MULTI STRATEGY CREDI BLUEMATRIX FUND CLASS -A- USD BLUEMOUNTAIN CREDIT ALTERNATIV BLUEMOUNTAIN EQUITY ALTERNATIV BLUEMOUNTAIN LONG SHORT CREDIT BLUETREND FUND, LTD - CLASS A BNY MELLON ARX BRAZIL FUND SPC BORONIA DIVERSIFIED FUND MASTE BOUSSARD & GAVAUDAN HOLDING., BREVAN HOWARD ASIA FUND LIMITE BREVAN HOWARD COMMODITIES STRA BREVAN HOWARD CREDIT CATALYSTS BREVAN HOWARD CREDIT VALUE FU BREVAN HOWARD FUND, LTD - USD BREVAN HOWARD INVEST. FUND - E BREVAN HOWARD M/S FUND, LTD — BRIGADE LEVERAGED CAPITAL STRU BROOKFIELD GLOBAL LISTED INFRA BROOKFIELD GLOBAL REITS LONG S BRUMMER MULTISTRATEGY 2XL, LTD BRYN MAWR OFFSHORE LTD 17 24 47 BTG PACTUAL GLOBAL EM. MKTS AN BTG PACTUAL GLOBAL EQUITY OPPO Cc CAIRN CREDIT FOCUS FUND LTD CAIRN SPECIAL OPPORTUNITIES CR CAMPBELL GLOBAL ASSETS FUND LT CAMPBELL GLOBAL ASSETS FUND LT CAMPBELL GLOBAL ASSETS FUND LT CANDLEWOOD SPECIAL SITUATIONS CANDLEWOOD STRUCTURED CREDIT F CANDLEWOOD STRUCTURED CREDIT H CANOSA GLOBAL MACRO FUND LTD CANTAB CAPITAL PARTNERS QUANTI CANYON BALANCED FUND LTD - CLA CANYON VALUE REALIZATION FD, L CAPEVIEW AZRI 2X FUND CAPEVIEW AZRI FUND CAPEVIEW RECOVERY FUND CAPITAL FOUR CREDIT OPPORTUNIT CAPITAL FUND, LTD (THE) CAPULA GLOBAL RELATIVE VALUE F CASSIOPEIA FUND CLASS C CASTLEROCK FUND LTD CAXTON GLOBAL INVESTMENT LTD CC ASIA ABSOLUTE RETURN FUND CCl HEALTHCARE PARTNERS LTD CERBERUS INTL. LTD CLASS A A! CHENAVARI CORPORATE CREDIT STR CHENAVARI MULTI STRATEGY CREDI CHENAVARI REGULATORY CAPITAL S CHENAVARI TORO CAPITAL I A HSBC Alternative Investment Group EFTA00602703 ar BSSseBRe8B 8B

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Index by Funds CHILTON CHINA OPPORTUNITIES FU COBALT OFFSHORE LTD COHERENCE CAPITAL SPECTRUM FUN COMAC GLOBAL MACRO FUND 20 26 15 39 COMMONWEALTH OPPORTUNITY CAYMA 39 CONQUEST MACRO FUND, LTD (COMP CONTRARIAN CAPITAL FUND | OFFS CONTRARIAN EMERGING MARKETS OF COOPER CREEK PARTNERS LLC CQS ABS FEEDER FUND - CLASS -B CQS ASIA FEEDER FUND LTD- CLAS CQS CONV & QUANT STRATS FEED F CQS CREDIT LONG SHORT FEEDER F CQS DIRECTIONAL OPP. FEEDER FU CQS DIVERSIFIED FUND (SPC) LTD CRABEL FUND SPC LTD CLASS A CUMULUS ENERGY FUND CLASS A US CYGNUS UTILITIES, INFRASTRUCTU D DAVIDSON KEMPNER DIST. OPP. IN DAVIDSON KEMPNER INTL, LTD - C DB PLATINUM IV DBX SYSTEMATIC DB PLATINUM V HERMES A.R. COMM DB SELECT EUROFIN ACCURATE FX DIAMOND CAPITAL MANAGEMENT DISCOVERY GLOBAL MACRO FUND LT DISCOVERY GLOBAL OPPORTUNITY F DISCUS FEEDER LTD CL. B USD ST DORSET ENERGY FUND, LTD - CLAS DOUBLE BLACK DIAMOND LTD - SER DROMEUS GLOBAL OPPORTUNITIES F 18 13 29 15 BB &ESSARR S&esees 8S Sa 50 31 DUET GLOBAL FUND PLUS DYMON ASIA MACRO FUND (SERIES EAGLE GLOBAL FUND EAGLE QUANTITATIVE MACRO FUND ECLECTICA FUND (THE) CLASS AE EDGESTREAM NIAS FUND EIFFEL CREDIT OPPORTUNITIES FU ELEMENT CAPITAL FUND ELLINGTON CREDIT OPPORTUNITIES ELLINGTON MORTGAGE OPPORTUNITI ELM RIDGE CAPITAL PARTNERS LP EMF FIXED INCOME FUND, LTD EMINENCE FUND LTD A INITIAL S ENNISMORE EUROPEAN SMALLER COM EPISODE INC. CLASS A EQUILIBRIA JAPAN FUND LTD 1X U EQUILIBRIA JAPAN FUND LTD 2x ( EXANE ARCHIMEDES FUND CLASS A EXANE MICROMEGAS FUND LTD- CLA EXANE TEMPLIERS FUND F FARRINGDON ALPHA ONE FINISTERRE SOVEREIGN DEBT FUND FIREBIRD NEW RUSSIA FUND, LTD FIREBIRD REPUBLICS FUND, LTD FOC PARTNERS CAPITAL | FUND FORT GLOBAL DIVERSIFIED FORTRESS ASIA MACRO FUND Past performance is not a reliable indicator of future performance. Source - HSBC 24 37 41 39 14 39 15 BBRa 28 39 45 45 45 24 24 13 21 21 &e&a FORTRESS MACRO FUND LTD. CLAS G GABELLI ASSOCIATES LIMITED - C GAM DIVERSITY | INC - US$ CLAS GAM DIVERSITY II INC - US$ CLA GAM GLOBAL RATES HEDGE FUND GAM TALENTUM ENHANCED EUROPE L GAM TRADING II USD GAMUT INVESTMENTS GAVEA FUND LTD . CLASS A S/1 GEMS PROGR. FUND SICAV RECOVER GLADE BROOK GLOBAL OFFSHORE FU GLENVIEW CAPITAL PARTNERS (CAY GLG CROSS ASSET VALUE OFFSHORE GLG EUROPEAN EQUITY ALTERNATIV GLG EUROPEAN LONG SHORT FUND C GLG MARKET NEUTRAL FUND - CLAS GOLDEN CHINA FUND NR CLASS GRAHAM ABSOLUTE RETURN TRADING GRAHAM GIF Il PROPRIETARY MATR GRAHAM GLOBAL INVESTMENT FUND GRAHAM GLOBAL INVESTMENT FUND GRAHAM GLOBAL INVESTMENT FUND GRAHAM GLOBAL INVESTMENT FUND GRAHAM GLOBAL INVESTMENT FUND- GREEN FUND LLC GREEN CLASS GREEN T G2 FUND GREENLIGHT CAPITAL OFFSHORE, L GROWTH MANAGEMENT LTD GRT TOPAZ OFFSHORE PARTNERS, L GSA CAPITAL INTERNATIONAL FUND 39 Br®vBasbBsEFESEBSSESSSRELTRBRKLSSRKEBSRES 47 H HABROK LTD HALCYON OFF. ASSET-BACKED VALU HALCYON PARTNERS OFFSHORE FUND HARBOUR HOLDINGS LTD HARMONIC ALPHA PLUS MACRO FUN HARNESS MACRO CURRENCY FUND HARVEY SMIDCAP OFFSHORE FUND L HIGHBRIDGE CAPITAL CORPORATION HIGHBRIDGE LONG/SHORT EQUITY F HORSEMAN GLOBAL FUND USD HSBC ASIAN ADVANTEDGE FUND HSBC CREDIT MARKET OPPORTUNITI HSBC GH FUND USD HSBC HEDGE INVESTMENTS FUND HSBC LEVERAGED GH FUND HSBC MAA FUND USD HSBC NEXT GENERATION FUND NNI HSBC SPECIAL OPPORTUNITIES FUN HSBC TRADING ADVANTEDGE FUND HSBC UCITS ADVANTEDGE FUND -US HT ASIAN CATALYST FUND LLC HUDSON BAY INTERNATIONAL FUND HUTCHIN HILL DIVERSIFIED ALPHA ill FUND LTD ill RELATIVE VALUE CREDIT STRA ill SELECT CREDIT FUND LTD CLA INVICTA OFFSHORE FUND LTD HSBC Alternative Investment Group EFTA00602704 24 E886 a N 2&ESRRRERKRRRERERKRRSB

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Index by Funds IP ALL SEASONS ASIAN CREDIT HE IVORY CAPITAL FLAGSHIP STRATEG IVORY OPTIMAL FUND LTD J JABCAP EMEA FUND CLASS X1 JABCAP GLOBAL BALANCED FUND LT JABCAP GLOBAL CONVERTIBLE FUND JABCAP MULTI STRATEGY FUND LTD JENOP GLOBAL HEALTHCARE FUND L JPMORGAN PORT. STRAT. FUNDS-EU K KALTCHUGA FUND - RUSSIA EQ. SU KAMUNTING STREET OFFSHORE FUND KEYNES LEVERAGED QUANTITATIVE KG INVESTMENT FUND LLC KIMA PAN ASIA OFFSHORE FUND - KINETICS FUND, INC - AJA KING STREET CAPITAL, LTD KING STREET EUROPE LTD CLASS A KINGDON CREDIT LTD A1/1 KINSALE COMPASS FUND KL Special Opportunities FUND KLS DIVERSIFIED FUND LTD KROM RIVER COMMODITY FUND L LANSDOWNE DEVELOPED MARKET FUN LANSDOWNE EUROPEAN EQUITY FD, LANSDOWNE GLOBAL FINANCIALS FU 13 27 27 21 51 12 BBS 24 22 27 LAZARD GLOBAL HEXAGON FUND LAZARD RATHMORE FUND - CLASS A LC CAPITAL OFFSHORE FUND, LTD LC EQUITY FUND LTD LIM ASIA MULTI-STRATEGY FUND C LIM JAPAN FUND LINDEN INTERNATIONAL LTD LION FUND, LTD (THE) LIONSCREST TAILPRO -US EQUITY LMR FUND LTD LNG EUROPA CREDIT FUND LONDON DIVERSIFIED FUND, LTD - LOOMIS SAYLES CREDIT LONG SHOR LUCERNE CAPITAL OFFSHORE FUND LUCIDUS CAPITAL G4 FUND LYNX (BERMUDA) LTD LYNX BERMUDA 1.5 LTD M. KINGDON OFFSHORE NV - A/t MACQUARIE ASIAN ALPHA FUND MACQUARIE CREDIT NEXUS FUND LT MADISON STREET FUND L-P. MADRAGUE EQUITY LONG SHORT MAN GLG MULTI-STRATEGY FUND CL MAN GLG MULTI-STRATEGY UCITS C MARATHON VERTEX JAPAN FD, LTD MARCATO INTERNATIONAL LTD MARINUS OPPORTUNITIES FUND (PR MARSHALL WACE - MW CORE A USD MARSHALL WACE - MW EUREKA Al E MARSHALL WACE - MW EUROPEAN TO Past performance is not a reliable indicator of future performance. Source - HSBC 24 12 2e@el2R ERE 14 15 Bears 24 15 27 51 51 25 31 17 24 MARSHALL WACE - MW GLOBAL FINA MARSHALL WACE - MW GLOBAL OPPO MARSHALL WACE - MW MARKET NEUT MARTIN CURRIE ARF - JAPAN FUND MARTIN CURRIE EUROPEAN HEDGE F MASTERS FUND LTD MAGNOLIA SERI MAVERICK FUND, LTD - CLASS A/1 MBAM ACTIVE ENHANCED MBAM ACTIVE LONG SHORT MELLON OFF GLOB OPP FUND LTD - MELLON OFF. ALPHAACCESS FUND L MERCHANT COMMODITY FUND (THE) MIDOCEAN ABSOLUTE RETURN CREDI MIDOCEAN CREDIT OPPORTUNITY FU MILLENNIUM INTL LTD MKP CREDIT OFFSHORE FUND MKP OPPORTUNITY OFFSHORE, LTD MLIS - BEACH POINT DIVERSIFIED MLIS - CCl HEALTHCARE LONG SHO MLIS - GRAHAM CAPITAL SYSTEMAT MLIS - MARSHALL W. TOPS UCITS MLIS - OZ EUROPE UCITS FUND CL MLIS - THEOREMA EUROPEAN EQUIT MLIS - YORK EVEN DRIVEN UCITS MLM MACRO PEAK PARTNERS OFFSH MOJNA ALPHA LEVERAGED MASTER F MOJNA ALPHA MASTER FUND - EUR MONARCH DEBT RECOVERY FUND LTD MONEDA ABSOLUTE RETURN LTD SUB MONEDA LATIN AMERICAN CORPORAT MONTLAKE SKYLINE UCITS FUND IN MOORE GLOBAL INV FD, LTD - A$ 28 24 45 Ssé&s EREKRS 17 17 51 16 Eeas 31 Sesser 18 3 13 21 MOORE MACRO MANAGERS FUND, LTD 40 MS ASCEND UCITS FUND CLASS IE MUDRICK DISTRESSED OPPORTUNITY NEVSKY FUND PLC (COMPOSITE) NEZU CYCLICALS FUND LTD NORDIC ALPHA CLASS B - NOK fe) OBSERVATORY CREDIT MARKETS FUN OCCO EASTERN EUROPEAN FUND AS OCEANIC HEDGE FUND - CLASS A OCP DEBT OPPORTUNITY INTERNATI OCTAGON HIGH INCOME FUND OCTAGON PAN ASIA FUND ODEY EUROPEAN, INC (EUR) OMEGA OVERSEAS PARTNERS, LTD OMNI MACRO FUND | LIMITED ONE WILLIAM STREET CAPITAL FUN ONSLOW MACRO FUND CLASS A ORTUS FUND (CAYMAN) LTD OWL CREEK OVERSEAS FUND, LTD OWS CREDIT OPPORTUNITY FUND OYSTER CREDIT OPPORTUNITIES FU OYSTER MARKET NEUTRAL EUR P PALOMINO FUND LTD CLASS B ORIG PAMPLONA CREDIT OPPORTUNITIES PAN ASIA OPPORTUNITIES FUND LT HSBC Alternative Investment Group EFTA00602705 24 18 See 14 21 20 17 8 27 17 40 42 32 18 14 16 14 46

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Index by Funds PASSPORT GLOBAL STRATEGY FUND PASSPORT LONG SHORT STRATEGY F PASSPORT SPECIAL OPPORTUNITIES PAULSON ADVANTAGE LTD -A- PAULSON ADVANTAGE PLUS LTD PAULSON CREDIT OPPORTUNITIES L PAULSON ENHANCED LTD PAULSON INTERNATIONAL, LTD PAULSON RECOVERY FUND LTD PEGASUS FUND LIMITED SHARES A- PELAGUS CAPITAL FUND PELHAM LONG/SHORT FUND LTD CLA PENSATO EUROPA FUND LTD EURO C PERCEPTIVE LIFE SCIENCES OFFSH PERRY PARTNERS INTERNATIONAL | PERSHING SQUARE INTL.LTD PHALANX JAPAN AUSTRALASIA MULT PHARO MACRO FUND LTD PHARO TRADING FUND PIMCO ABSOLUTE RETURN STRATEGY PIMCO GLOBAL CREDIT OPPORTUNIT PIMCO MULTI-ASSET VOLATILITY F PINE RIVER ASIA FUND PINE RIVER CONVERTIBLES FUND PINE RIVER CREDIT RELATIVE VAL PINE RIVER FIXED INCOME FUND L PINE RIVER FUND CLASS -B1- SHA PINE RIVER LIQUID MORTGAGE FUN PINPOINT CHINA FUND CLASS A US PINPOINT MULTI-STRATEGY FUND PLATINUM FUND LTD PLATINUM PARTNERS VALUE ARBITR BRRRBR BB8SEERRBBBBRRESS 12 12 16 16 51 R& 88 POLAR CAPITAL EUROP CONVICTION POLAR CAPITAL EUROPEAN FORAGER POLLUX BRAZILIAN EQUITIES FUND PORTLAND HILL OVERSEAS FUND LT PROLOGUE FEEDER FUND, LTD. CLA PROSIRIS GLOBAL OPPORTUNITIES Q QVT OFFSHORE LTD CLASS 1-NR RAB SPECIAL SITUATION FD LTD RAVEN ROCK CREDIT OFFSHORE FUN RBR EUROPEAN LONG SHORT LTD (E REAL RETURN ASIAN FUND LTD (TH REDWOOD OFFSHORE FUND RENAISSANCE INSTITUTIONAL DIVE RENAISSANCE INSTITUTIONAL EQUI RENAISSANCE INSTITUTIONAL FUTU ROSEMONT OFFSHORE FUND LTD CLA RUBICON GLOBAL FUND, LTD RUSSIAN PROSPERITY FUND - A RWC SAMSARA FUND CLASS A EURO RWC US ABSOLUTE ALPHA FUND - C Ss SAB OVERSEAS FUND LTD SABA CAPITAL OFFSHORE FUND LTD SAGIL LATIN AMERICAN OPPORTUNI SALAR CONVERTIBLE ABSOLUTE RET SCHRODER CAZENOVE UK ABSOLUTE Past performance is not a reliable indicator of future performance. Source - HSBC 23 28 21 3 16 51 28 17 23 20 51 27 44 47 S8eé 27 16 21 12 45 SCHRODER ISF EMERGING MARKET D SEGANTII ASIA-PACIFIC EQUITY M SELIGMAN TECH SPECTRUM FUND CL SEMINOLE OFFSHORE FUND SENVEST PARTNERS, LTD - CLASS SFP VALUE REALIZATION FUND SIERRA EUROPE OFFSHORE, LTD - SILVER POINT CAPITAL OFFSHORE SILVERBACK ARBITRAGE FUND SINFONIETTA FUND SOLAISE SYSTEMATIC FUND LTD ( SOLUS SOLA LTD CL. | SOMERSET SPECIAL OPPORTUNITIES SPF CREDIT SUISSE SECURITIZED SPINNAKER GLOB OPP FUND, LTD C SPINNAKER GLOBAL EMERGING MARK SR GLOBAL FUND C - INTERNATION SR GLOBAL FUND H - JAPAN (Real SR GLOBAL FUND INC - G - GLOBA SR PHOENICIA INC CLASS -A- SER STANDARD PACIFIC CAPITAL -B- STK CAPITAL GLOBAL EQUITIES STONE LION FUND LTD CLASS A STRATEGIC VALUE RESTRUCTURING STRATUS FUND LIMITED CLASS B SUSA EUROPEAN EQUITIES FUND CL T TELLIGENT GREATER CHINA FUND TEWKSBURY INVESTMENT FUND, LTD THE CAMBRIDGE STRATEGY - APOLL THE CAMBRIDGE STRATEGY - ASIAN 13 49 27 25 18 SB ESR 16 49 25 25 21 21 25 18 18 g 2 Seis THE CAMBRIDGE STRATEGY - EMERG THE CAMBRIDGE STRATEGY - EXTEN THEOREMA EUROPE FUND PLUS LTD THREE BRIDGES EUROPE MASTER FU TIG ARBITRAGE ENHANCED FUND TIG SECURITIZED ASSET FUND LTD TILDEN PARK OFFSHORE INVESTMEN TOSCA CLASS A - USD TRADELINK INTEGRATED PROGRAM L TRAXIS SIVIK GLOBAL HEALTHCARE TREND MACRO OFFSHORE LTD TRIAN PARTNERS LTD TRICADIA CREDIT STRATEGIES, LT TT INTERNATIONAL FUND TT MID-CAP EUROPE LONG/SHORT F TUDOR B.V.1 GLOBAL FUND LTD -A TUDOR B.V.1 GLOBAL FUND LTD -A TUDOR DISCRETIONARY MACRO FUND TULIP TREND FUND, LTD -A TWO SIGMA ABSOLUTE RETURN FUND TWO SIGMA COMPASS CAYMAN FUND TWO SIGMA HORIZON CAYMAN LTD TYRUS CAPITAL EVENT FUND LTD TYRUS CAPITAL OPPORTUNITIES FU U UMJ KOTOSHIRO FUND Vv VAN ECK HARD ASSETS 2X FUND LT VARDEN PACIFIC OPPORTUNITY OFF HSBC Alternative Investment Group EFTA00602706 EePtPSESRS sa RSEVB*EVBIUISERRSS BR oe 20

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Index by Funds VISIUM BALANCED OFFSHORE FUND VISIUM GLOBAL OFFSHORE FUND LT VISIUM INSTITUTIONAL PARTNERS VR GLOBAL OFFSHORE FUND LTD Ww WATERSTONE MARKET NEUTRAL OFFS WEISS MULTI-STRATEGY PARTNERS WF ASIA FUND LTD S/1 WHITEBOX MULTI-STRATEGY FUND WINTON EVOLUTION FUND (THE) WINTON FUTURES FUND - CLASS B Y YORK ASIAN OPPORTUNITIES UNITS YORK INVESTMENT LTD -CLASS A-U Z ZADIG FUND CLASS At ZEAL CHINA FUND LIMITED ZWEIG-DIMENNA INTL LIMITED - C Past performance is not a reliable indicator of future performance. Source HSBC 29 51 28 19 12 BERSES 21 27 HSBC Alternative Investment Group | 8 EFTA00602707

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Top & Bottom 20 Funds of 2014 Top Investment Funds PERSHING SQUARE INTL.LTD CUMULUS ENERGY FUND CLASS A USD TYRUS CAPITAL OPPORTUNITIES FUND LTD PHARO TRADING FUND TYRUS CAPITAL EVENT FUND LTD MERCHANT COMMODITY FUND (THE) - COMPOSITE CHENAVARI TORO CAPITAL A DORSET ENERGY FUND, LTD - CLASS A ATLAS FUNDAMENTAL TRADING FUND LTD- CLASS A MUDRICK DISTRESSED OPPORTUNITY FUND LTD LINDEN INTERNATIONAL LTD SOLUS SOLA LTD CL. | SENVEST PARTNERS, LTD - CLASS A HORSEMAN GLOBAL FUND USD SELIGMAN TECH SPECTRUM FUND CLASS -A1-S/2-2002 KAMUNTING STREET OFFSHORE FUND LTD FINISTERRE SOVEREIGN DEBT FUND AMAZON MARKET NEUTRAL FUND CLASS A USD RBR EUROPEAN LONG SHORT LTD (Ex Rhine Alpha Stars} ENNISMORE EUROPEAN SMALLER COMPANIES Retum 19.21 15.66 14.61 14.48 14.40 14.31 13.34 12.67 11.56 10.81 10.27 10.08 9.14 9.05 9.04 8.93 8.09 7.55 7.45 7.19 Date 30 Apr 14 02 May 14 30 Apr 14 17 Apr 14 02 May 14 02 May 14 30 Apr 14 30 Apr 14 30 Apr 14 02 May 14 30 Apr 14 02 May 14 30 Apr 14 30 Apr 14 31 Mar 14 30 Apr 14 30 Apr 14 02 May 14 30 Apr 14 24 Apr 14 This ranking is for information only and should not be considered as exhaustive. Past performance is not a reliable indicator of future performance. Source Hi SBC Bottom Investment Funds Return Date MELLON OFF. ALPHAACCESS FUND LTD - MCY A 21.07 = 31.Mar 14 SR GLOBAL FUND H - JAPAN (Real Perf) 18.43 05 May 14 SR GLOBAL FUND CG - INTERNATIONAL (Real Perf) 18.41 05 May 14 EAGLE GLOBAL FUND 18.06 02 May 14 CC ASIA ABSOLUTE RETURN FUND “15.94 30 Apr 14 RUBICON GLOBAL FUND, LTD “15.08 02 May 14 DISCOVERY GLOBAL MACRO FUND LTD CLASS -A- 13.57 02 May 14 SERIES 1 ODEY EUROPEAN, INC (EUR) 12.18 30 Apr 14 DISCOVERY GLOBAL OPPORTUNITY FUND, LTD “12.04 30 Apr 14 SINFONIETTA FUND “11.79 30 Apr 14 MELLON OFF GLOB OPP FUND LTD - MULTICURRENCY - -10.61 31 Mar 14 EAGLE QUANTITATIVE MACRO FUND LTD -10.28 30 Apr 14 CAMPBELL GLOBAL ASSETS FUND LTD Class A 999 02May 14 CAMPBELL GLOBAL ASSETS FUND LTD Class B 998 02May 14 ADELPHI EMERGING EUROPE. FUND USD SHARES -9.86 30 Apr 14 ZWEIG-DIMENNA INTL LIMITED - CLASS A -9.81 30 Apr 14 LANSDOWNE GLOBAL FINANCIALS FUND LTD. -N-USD -9.80 30 Apr 14 CHILTON CHINA OPPORTUNITIES FUND LTD “9.10 30 Apr 14 GRAHAM GLOBAL INVESTMENT FUND II - K4D-15V - 897 06 May 14 COMPOSITE GRAHAM GIF Il PROPRIETARY MATRIX SP SIES A 7.95 06 May 14 HSBC Alternative Investment Group | 9 EFTA00602708

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Top & Bottom 20 Funds of 2013 Top Investment Funds SFP VALUE REALIZATION FUND SENVEST PARTNERS, LTD - CLASS A PEGASUS FUND LIMITED SHARES A-1 PAULSON RECOVERY FUND LTD SR GLOBAL FUND H - JAPAN (Real Perf) BCM WESTON LP (BILLINGS CAPITAL MANAGEMENT) OWL CREEK OVERSEAS FUND, LTD JABCAP GLOBAL BALANCED FUND LTD CLASS D/t NI PASSPORT SPECIAL OPPORTUNITIES FUND LTD CLASS AA PERCEPTIVE LIFE SCIENCES OFFSH FUND, LTD JABCAP MULTI STRATEGY FUND LTD CLASS D/1 NI GLENVIEW CAPITAL PARTNERS (CAYMAN), LTD. PALOMINO FUND LTD CLASS B ORIGINAL SERIES TRIAN PARTNERS LTD KINETICS FUND, INC - A/A SR GLOBAL FUND C - INTERNATIONAL (Real Perf) SINFONIETTA FUND LANSDOWNE DEVELOPED MARKET FUND, LTD (GBP) PAULSON ENHANCED LTD CHENAVARI TORO CAPITALIA Retum 82.12 79.51 63.74 63.18 62.51 50.32 48.63 47.80 45.50 43.88 43.03 42.90 42.36 40.06 39.73 36.28 34.47 33.26 33.11 32.93 Date 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 31 Dec 13 This ranking is for information only and should not be considered as exhaustive. Past performance is not a reliable indicator of future performance. Source Hi SBC Bottom Investment Funds Return Date RAB SPECIAL SITUATION FD LTD 32.86 31 Dec 13 CANTAB CAPITAL PARTNERS QUANTITATIVE FUND 27.65 31 Dec 13 (THE) - USD ARISTARCHUS WATERSTONE MARKET NEUTRAL OFFSHORE FUND, 19.27 31 Dec 13 ORTUS FUND (CAYMAN) LTD 17.32 31 Dec 13 EAGLE GLOBAL FUND 15.88 31 Dec 13 BLUETREND FUND, LTD - CLASS A 11.50 31 Dec 13 DISCUS FEEDER LTD CL. B USD STANDARD LEVERAGE 10.32 31 Dec 13 EAGLE QUANTITATIVE MACRO FUND LTD 10.29 31 Dec 13 THE CAMBRIDGE STRATEGY - EXTENDED MARKETS 996 31 Dec 13 CURRENCY ALPHA HSBC TRADING ADVANTEDGE FUND 8.75 31 Dec 13 HARMONIC ALPHA PLUS MACRO FUND - USD CLASS 834 31 Dec 13 ARMAJARO STS COMMODITIES FUND CLASS -Z- -7.80 31 Dec 13 CONQUEST MACRO FUND, LTD (COMP) 766 31Dec13 LC CAPITAL OFFSHORE FUND, LTD 755 31Dec13 ALPHA4X CAPITAL GROWTH FUND 7.33 31 Dec 13 SABA CAPITAL OFFSHORE FUND LTD 6.76 31Dec13 KROM RIVER COMMODITY FUND 647 31 Dec 13 LIONSCREST TAILPRO -US EQUITY FUND 6.33 31 Dec 13 CQS CREDIT LONG SHORT FEEDER FUND LTD - B1 EUR 6.23 31 Dec 13 PIMCO MULTI-ASSET VOLATILITY FUND LTD 617 31 Dec 13 HSBC Alternative Investment Group | 10 EFTA00602709

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Top & Bottom 20 Funds of 2012 Top Investment Funds SFP VALUE REALIZATION FUND TILDEN PARK OFFSHORE INVESTMENT FUND LTD BROOKFIELD GLOBAL REITS LONG SHORT STRATEGY CHENAVARI REGULATORY CAPITAL STRATEGY - DR € CQS DIRECTIONAL OPP. FEEDER FUND. Ltd — A NI USD PINE RIVER FIXED INCOME FUND LTD SENVEST PARTNERS, LTD - CLASS A BLACKROCK OBSIDIAN FUND 400 CAPITAL CREDIT OPPORTUNITIES ASGARD FIXED INCOME FUND LTD CHENAVARI TORO CAPITAL A SR GLOBAL FUND H - JAPAN (Real Perf) ODEY EUROPEAN, INC (EUR) RBR EUROPEAN LONG SHORT LTD (Ex Rhine Alpha Stars) PALOMINO FUND LTD CLASS B ORIGINAL SERIES PINE RIVER LIQUID MORTGAGE FUND LTD MARCATO INTERNATIONAL LTD VARDEN PACIFIC OPPORTUNITY OFFSHORE FUND I LTD BTG PACTUAL GLOBAL EM. MKTS AND MACRO FD PERCEPTIVE LIFE SCIENCES OFFSH FUND, LTD Retum 44.54 41.34 40.00 36.91 35.86 34.85 34.81 34.27 34.21 34.12 32.42 31.05 30.69 29.45 29.29 28.86 28.67 28.54 28.12 28.09 Date 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 31 Dec 12 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. Source HSBC Bottom Investment Funds Return Date CONQUEST MACRO FUND, LTD (COMP) 33.16 31 Dec 12 RAB SPECIAL SITUATION FD LTD 2794 31 Dec 12 PAULSON ADVANTAGE PLUS LTD 21.50 31 Dec 12 ARMAJARO STS COMMODITIES FUND CLASS -Z- 18.15 31 Dec 12 ORTUS FUND (CAYMAN) LTD 17.33 31 Dec 12 AJIA-LIGHTHORSE CHINA GROWTH FUND LTD “14.51 31 Dec 12 PAULSON ADVANTAGE LTD -A- 14.23 31 Dec 12 ELM RIDGE CAPITAL PARTNERS LP. 14.08 31 Dec 12 DISCUS FEEDER LTD CL. B USD STANDARD LEVERAGE 13.88 31 Dec 12 LYNX BERMUDA 1.5 LTD 10.82 31 Dec 12 ASPECT DIVERSIFIED FUND - CLASS A 10.66 31 Dec 12 CAMPBELL GLOBAL ASSETS FUND LTD Class D 10.10 31 Dec 12 MLIS - GRAHAM CAPITAL SYSTEMATIC MACRO UCITS 10.09 31 Dec 12 FUND COMAC GLOBAL MACRO FUND 895 31 Dec 12 WINTON EVOLUTION FUND (THE) -8.31 31 Dec 12 OCEANIC HEDGE FUND - CLASS A 7.73 31 Dec 12 MERCHANT COMMODITY FUND (THE) - COMPOSITE 760 31 Dec 12 GRAHAM GLOBAL INVESTMENT FUND II - K4D-15V - 745 31 Dec 12 COMPOSITE ONSLOW MACRO FUND CLASS A 6.72 31 Dec 12 LYNX (BERMUDA) LTD 6.71 31 Dec 12 HSBC Alternative Investment Group { 11 EFTA00602710

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Convertible Arbitrage Asset LastNAVor Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Inception Liquidity 1 Dates Size Index Drawdown Convertible Yid Avg. 2014 1.56% ; Ytd Avg. 2014 Convertible/Asia 0.90% CQS ASIA FEEDER FUND LTD- CLASS -B-USD 30 Apr 07 Q $90M 1,288.77 30 Apr (0.98%) (0.97%) 446% 5.45% 4.26% 3.69% 7.76% (24.55%) Michael Hintze, Jean-Christophe Blanc Mar 14 14 Oct 07 - Oct 08 PINE RIVER ASIA FUND 30 Jun 04 Q $147M 1,699.23 30 Apr 2.38% 2.76% 6.54% 8.08% 0.67% 5.54% 10.99% (37.86%) Nikhil Mankoal, Matthew Macpherson Apr 14 14 Jan 08 - Dec 08 , Ytd Avg. 2014 Convertible/Global 2.16% BASSO INVESTORS LTD 30 Sep 95 Q $347M 7,332.00 02 May (0.05%) 3.63% 11.45% 9.5% 2.61% 11.31% 5.91% (25.00%) Howard Fischer Oct 13 14 Dec 07 - Oct 08 CQS CONV & QUANT STRATS FEED FD, LTD 29 Feb 00 uM $460M 3,090.82 30 Apr 0.20% 0.83% 5.9% 8.65% 1.88% 8.29% 8.03% (34.47%) CLASS-B- Apr 14 14 Oct 07 - Dec 08 Michael Hintze/ Alex Schoenenberger JABCAP GLOBAL CONVERTIBLE FUND - D1 30 Apr 07 Ww $371M 197.23 30 Apr (1.83%) 2.11% 27.14% 5.37% -14.15% 10.17% 12.90% (28.61%) Unrestricted Apr 14 14 May 08 - Nov 08 Philippe Jabre LAZARD RATHMORE FUND - CLASS A-2 31 May 07 QiM = $1'186M 218.24 30 Apr O.17% 2.69% 10.45% 4.59% 1.65% 11.94% 8.50% (16.23%) Sean Reynolds, Christopher Sferruzzo Mar 14 14 Aug 08 - Nov 08 SALAR CONVERTIBLE ABSOLUTE RETURN FUND 31 Aug 10 Ww $252M 118.86 02 May 0.03% 1.52% 10.34% 6.42% -2.86% 4.82% 3.19% (3.92%) Alex Warren, David Persaud Mar 14 14 Mar 11 - Dec 11 , Yid Avg. 2014 Convertible/USA 1.00% PINE RIVER CONVERTIBLES FUND 31 Jul 09 Q $159M 194.97 SO Apr 0.12% (0.83%) 19.34% 7.6% 4.98% 15.09% 6.88% (3.80%) Franklin Parlamis Apr 14 14 Apr 10 - Jun 10 SILVERBACK ARBITRAGE FUND 31 Oct 06 Q $571M 275.35 02 May 0.02% 1.51% 5.98% 3.34% 4.97% 14.45% 13.15% (25.79%) Silverback Asset Management Apr 14 14 Jun 08 - Nov 08 WATERSTONE MARKET NEUTRAL OFFSHORE FUND, 31 Jul 03 Q $946M 201.57 02May (0.37%) 2.33% -19.27% 11.1% 0.73% 6.73% 10.98% (19.41%) LTD Nov 13 14 Dec 12- Feb 14 Shawn Bergerson 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 12 Source - HSBC EFTA00602711

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Credit Long/Short Inception Liquidity Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Dates Size Index Drawdown! Credit Ytd Avg. 2014 3.14% ; ; Ytd Avg. 2014 Credit/Emerging 2.74% ABSOLUTE INSIGHT EMERGING MARKET DEBT FUND 30 Apr 08 D €719M 1.46 O7 May 0.47% 2.00% 0.65% = 11.73% 0.08% 6.48% 7.64% (15.32%) CLASS BiP Apr 14 14 May 08 - Oct 08 Colm McDonagh BAF LATAM TRADE FINANCE FUND 29 Feb 08 M $330M 1,734.48 30 Apr 0.61% 2.47% B.09% 8.71% 8.99% 9.34% 0.53% 0.00% Emesto Lienhard & team. Mar 14 14 dan 00 - Jan 00 BLUEBAY EMERGING MARKET FIXED INCOME 30 Nov 11 M $95M 104.40 31Mar 0.12% 0.70% 249% 6.99% 0.62% 1.86% 3.84% (3.88%) OPPORTUNITY FUND Mar 14 14 Dec 12- Jan 14 David Dowsett, Rodrigo Da Fonseca CONTRARIAN EMERGING MARKETS OFF FUND LTD 31 Dec 05 Q $470M 324.47 30 Apr 0.41% 2.56% 14.61% 23.2% -7.16% 15.17% 14.18% (28.43%) Xiao Song Feb 14 14 Feb 08 - Oct 08 FINISTERRE SOVEREIGN DEBT FUND 31 Mar 03 Q $662M 283.42 30 Apr 1.93% 8.09% 4AT% 4.3% 10.35% 9.85% 7.26% (21.00%) Paul Crean and Xavier Corin-Mick Apr 14 14 dun 08 - Oct 08 IP ALL SEASONS ASIAN CREDIT HEDGE FUND 31 Jan 02 M $352M 22.51 23 Apr 0.84% 1.68% 2.2% 18.68% “1.37% 6.86% 9.31% (38.05%) Emil NGUY Jul 13 14 Feb 08 - Mar 09 MONEDA LATIN AMERICAN CORPORATE DEBT FUND 30 Sep 07 Q $146M 1,842.02 06 May 0.32% 1.49% B.67% 11.48% 2.44% 9.69% 14.43% (32.05%) “A. Mar 14 14 Aug 08 - Dec 08 Fernando Tisné and Javier Montero SCHRODER ISF EMERGING MARKET DEBT AR -1 31 Jan 02 Daily $860M 35.08 O7 May 0.63% 2.93% 0.8% 5.36% 0.69% 8.30% 5.21% (9.31%) ACC- Dec 13 14 Mar 08 - Oct 08 Geoffrey Blanning ; Yid Avg. 2014 Credit/Europe 3.70% ABSOLUTE INSIGHT CREDIT FUND B1P2 EURO 30 Sep 11 Ww €585M 1.28 O7 May 0.26% 3.45% 7.38% 12.65% 2.59% 10.08% 4.62% (1.77%) Alex Veroude Apr 14 14 Oct 11 - Dec 11 CAIRN CREDIT FOCUS FUND LTD 31 Jul 12 M $83M 110.88 31Mar 0.17% (0.39%) 463% 6.38% 6.39% 2.84% (1.07%) Caim Capital Limited Mar 14 14 Jan 14 - Feb 14 CAIRN SPECIAL OPPORTUNITIES CREDIT FUND 31 Dec 07 Q €82M 184.29 31 Mar (0.49%) 1.37% 8.54% 19.95% -12.51% 10.27% 8.01% (13.94%) Caim Capital Limited Mar 14 14 Jun 11 - Nov 11 CAPEVIEW RECOVERY FUND 30 Jun 03 Q $404M 339.21 SO Apr 1.10% 4.71% 18.23% 8.41% 1.48% 11.93% 8.99% (30.45%) Theo Phanos Apr 14 14 Oct 07 - Dec 08 CAPITAL FOUR CREDIT OPPORTUNITIES FUND 31 Dec 09 M €39M 138.74 30 Apr 1.68% 5.04% 16.31% 17.68% 10.64% 18.32% 7.82% (6.46%) Capital Four Management Team Mar 14 14 May 11 -Nov 11 CHENAVARI REGULATORY CAPITAL STRATEGY -DR 31 Mar 11 Q $231M 158.44 31Mar O.97% 3.43% 15.19% 36.91% 2.87% 16.56% 5.75% (4.65%) € Feb 14 14 Jul 11 - Sep 11 Chenavari Investment Managers 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group {| 13 Source - HSBC EFTA00602712

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Credit Long/Short Inception Liquidity Asset LastNAVor Date MTD YTD 2013 = 2012 2011 Ann. Return = Ann. Vol Max 1 Dates Size Index Drawdown ; Ytd Avg. 2014 Credit/Europe 3.70% CHENAVARI TORO CAPITAL I A 31 May 09 M $409 M 853.96 30 Apr 3.98% 13.34% 32.93% 32.42% 24.71% 54.67% 12.17% (5.119%) Chenavari Investment Managers Feb 14 14 Jul 11 - Oct 11 EIFFEL CREDIT OPPORTUNITIES FUND CLASS A 30 Nov 11 uM €110M 1,414.97 02May 0.10% 5.81% B.11% 20.07% 3.01% 15.41% 6.61% (4.47%) Emmanuel Weyd, Eiffel Investment Group Feb 14 14 Apr 12 - Jun 12 GLG CROSS ASSET VALUE OFFSHORE FUND LTD 30 Nov 12 M $102M 1,178.94 02 May 0.37% 4.99% 11.5% 0.71% 12.30% 3.32% (0.20%) Chris Huggins Apr 14 14 Aug 13 - Sep 13 LNG EUROPA CREDIT FUND 31 Mar 11 M $67M 1,287.57 31Mar 1.24% 1.25% 16.1% 19.58% “7.79% 9.02% 8.78% (10.12%) LNG Capital LLP Feb 14 14 Apr 11 - May 12 OBSERVATORY CREDIT MARKETS FUND (THE) 30 Jun 04 M $1'030M 314.71 31Mar 1.43% 3.70% 7.25% 13.46% -5.02% 12.47% 6.52% (12.74%) Shazad Ghaffar Mar 14 14 Jul 07 - Jul 08 OYSTER CREDIT OPPORTUNITIES FUND CLASS R 31 Jul 09 Ww €245M 1,158.79 06 May (0.19%) (1.59%) 0.31% 9.99% “1.61% 3.14% 3.31% (6.80%) EUR2 Mar 14 14 May 11- Sep tt Caim Capital Limited PAMPLONA CREDIT OPPORTUNITIES FUND 31 Aug 08 M €403M 194.54 25 Apr 0.00% 2.99% 12.68% 19.87% -9.26% 12.50% 7.74% (17.90%) Yves Leysen Mar 14 14 Apr 11 - Dec 11 a Yid Avg. 2014 Credit/Global 3.03% AG MORTGAGE VALUE PARTNERS LTD 30 Apr 09 Q $1'052M 233.95 31Mar 1.10% 3.03% 12.91% 20.59% TAT% 18.85% 4.31% (1.66%) Jonathan Lieberman Dec 13 14 May 13 - Jun 13 ARISTEIA INTERNATIONAL LTD 01 Aug 97 Q $2'049M 966.48 30 Apr 0.35% 4.86% 15.67% 11.2% 2.36% 14.50% 8.97% (30.20%) Anthony M. Frascella, William R. Techar Apr 14 14 May 08 - Dec 08 ASGARD FIXED INCOME FUND LTD 30 Jun 03 M € 260M 439.62 02 May (0.05%) 4.62% 16.11% 34.12% 25.31% 14.63% 6.80% (11.54%) Morten Mathiesen dan 14 14 Aug 08 - Dec 08 AXONIC CREDIT OPPORTUNITIES OVERSEAS 31 Dec 10 Q $747M 157.65 30 Apr 1.00% 5.55% 12.1% 25.69% 6.01% 14.64% 4.39% (3.35%) FUND,LTD Mar 14 14 dul 11 - Oct 11 Clayton DeGiacinto BLUEBAY CREDIT ALPHA LONG SHORT FUND 31 Oct 11 uM €213M 133.82 02 May (0.01%) 3.03% 11.78% 26.2% 0.3% 16.24% 4.74% (1.60%) Geraud Charpin Mar 14 14 Jan 13 - Mar 13 BLUECREST MULTI STRATEGY CREDIT FUND 31 Oct 07 Q $1'647M 170.70 30 Apr 0.45% 5.97% 8.99% 7.23% 1.31% 8.57% 5.99% (7.59%) Mike Piatt Dec 12 14 Apr 11 - Jan 12 BLUEMOUNTAIN CREDIT ALTERNATIVES FUND 31 Oct 03 Q $7'800M 262.35 SO Apr O.17% 2.25% 7.87% 14.51% 3.57% 9.62% 6.15% (11.82%) BlueMountain Capital Management Mar 14 14 Aug 08 - Dec 08 BLUEMOUNTAIN LONG SHORT CREDIT FUND LTD 31 Jan 10 M $1'100M 1,181.84 30 Apr (0.22%) 1.88% 7.58% 7.84% 3.65% 7.22% 3.43% (3.43%) BlueMountain Capital Management Mar 14 14 Apr 11-Sep 11 BREVAN HOWARD CREDIT CATALYSTS FUND LTD 31 Jul 09 M $4'798M 181.58 31Mar 0.55% 3.15% 13.91% 15.34% 1.22% 13.63% 4.26% (5.05%) CLASS A USD Mar 14 14 May 11 - Dec 11 DW Investment Management ,LP 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 14 Source - HSBC EFTA00602713

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Credit Long/Short Inception Liquidity Dates Credit/Global BREVAN HOWARD CREDIT VALUE FUND LTD 29 Feb 12 HY DW Investment Management ,LP CANDLEWOOD STRUCTURED CREDIT FUND LTD 31 Dec 10 uM Greg Richter and Brian Herr CANDLEWOOD STRUCTURED CREDIT HARVEST FD 31 Jul 12 Q LTD- Greg Richter and Brian Herr CHENAVARI CORPORATE CREDIT STRATEGY Mt 30 Sep 08 uM Chenavari Investment Managers COHERENCE CAPITAL SPECTRUM FUND OFFSHORE 31 Jul 12 Q FUND Coherence Capital Partners LLC CQS ABS FEEDER FUND - CLASS -B1- USD 30 Sep 06 Q Simon Finch CQS CREDIT LONG SHORT FEEDER FUND LTD-B1 = 30 Apr 09 M EUR Simon Finch ELLINGTON CREDIT OPPORTUNITIES FUND LTD 30 Apr 08 Q Ellington Management Group, LLC ELLINGTON MORTGAGE OPPORTUNITIES MASTER ~~ 31. Jan 09 Q FUND LTD Ellington Management Group, LLC FOC PARTNERS CAPITAL | FUND 31 Jul 02 Q Andrea S. Feingold & R. lan O'Keeffe GREEN T G2 FUND 28 Feb 99 Q Darryl Green, Geoffrey Sherry Ill SELECT CREDIT FUND LTD CLASS -A- 31 Dec 07 Q Lester Coyle KINGDON CREDIT LTD A1/1 30 Sep 09 Q Michael Pohly LOOMIS SAYLES CREDIT LONG SHORT FUND 31 Aug 07 Q Kevin Kearns and Tom Stolberg LUCIDUS CAPITAL G4 FUND 28 Feb 11 Q Darryl Green, Geoffrey Sherry MACQUARIE CREDIT NEXUS FUND LTD 30 Sep 08 Q Macquarie Credit Investment Management Inc. 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC Asset Last NAV or Size $745M Mar 14 $539M Mar 14 $223M Mar 14 $537M Feb 14 $67M Mar 14 $1'948M Apr 14 $176M Feb 14 $505M Feb 14 $325M Feb 14 $40M Apr 13 $552M Feb 14 $246M Mar 14 $293M Apr 14 $617M Dec 13 $580M Feb 14 $632M Mar 14 Index 152.73 177.30 134.27 149.44 14.04 5,276.54 1,029.54 261.89 254.67 254.83 197.38 1,914.29 1,640.04 178.04 112.61 1,264.03 Date MTD YTD 31 Mar 30 Apr 14 30 Apr 14 31 Mar 14 02 May 14 30 Apr 14 30 Apr 14 30 Apr 14 30 Apr 14 30 Apr 14 02 May 14 30 Apr 14 02 May 14 25 Apr 14 02 May 14 31 Mar 14 Yid Avg. 2014 3.03% 1.04% 3.75% 1.20% 5.20% 1.50% 6.34% 1.23% 3.26% 0.06% 3.38% 1.40% 4.54% (1.11%) (2.20%) 0.82% 3.98% 0.29% 4.92% (0.30%) 0.00% 0.16% 0.41% 0.25% 2.30% 0.33% 3.53% 0.06% 1.27% 0.37% 0.85% 0.49% 4.53% 2013 23.7% 12% 14.05% 13.84% 18.98% 9.7% 6.23% 15.28% 9.64% 10.77% 2.66% 8.56% 15.67% 4.76% 5.01% 8.44% 2012 2011 Ann. Return Ann. Vol Max Drawdown! 19.01% 22.52% 5.60% (2.00%) May 13 - Jun 13 20.12% 25.27% 18.76% 3.63% (1.55%) May 13 - Jun 13 10.71% 18.36% 4.06% (2.20%) May 13 - Jun 13 17.22% 1.29% 14.17% 5.58% (6.82%) Apr 11 - Aug 11 14.17% 21.37% 4.57% (1.24%) May 13 - Jun 13 16.85% 0.67% 24.51% 11.53% (3.86%) Apr 07 - Jun 07 5.28% 7.74% 0.74% 3.89% (13.75%) Sep 11 - Apr 14 27.73% 1.86% 17.40% 5.93% (1.84%) Apr 11 - Jul 11 13.29% 16.19% 19.50% 3.90% (0.58%) Mar 13 - Apr 13 TA4% 9.97% 8.28% 7.77% (29.78%) dun 07 - Dec 08 2.76% 0.8% 6.50% 3.55% (4.26%) Dec 03 - Jul 04 11.95% TAI% 10.96% 6.65% (8.44%) Aug 08 - Nov 08 8.3% 1.64% 11.55% 5.32% (6.34%) May 11 - Sep 11 12.48% 0.76% 9.05% 6.60% (9.90%) Jun 08 - Sep 08 5.23% 1.04% 3.81% 3.34% (1.97%) Feb 11 -Jun 11 15.98% 1.85% 15.23% 5.13% (3.28%) May 11 - Oct 11 HSBC Alternative Investment Group { 15 EFTA00602714

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Credit Long/Short Credit/Global MKP CREDIT OFFSHORE FUND MKP Capital Management, L.L.C. MLIS - BEACH POINT DIVERSIFIED CREDIT UCITS FUND CLASS B USD Carl Goldsmith and Scott Klein PALOMINO FUND LTD CLASS B ORIGINAL SERIES David Tepper PIMCO GLOBAL CREDIT OPPORTUNITY FUND SERIES 1 Dan Ivascyn / Jon Horne PINE RIVER CREDIT RELATIVE VALUE FUND Mike O'Connell PINE RIVER FIXED INCOME FUND LTD Steve Kuhn, Colin Teichholtz PROSIRIS GLOBAL OPPORTUNITIES FUND Reza Ali SABA CAPITAL OFFSHORE FUND LTD Boaz Weinstein SPF CREDIT SUISSE SECURITIZED PRODUCTS MASTER FUND LTD Albert Sohn TIG SECURITIZED ASSET FUND LTD Stuart Lippman, David Liu TRICADIA CREDIT STRATEGIES, LTD Arif inayatullah & Michael Barnes VARDEN PACIFIC OPPORTUNITY OFFSHORE FUND | LTD Varden Pacific LLC Credit/USA 400 CAPITAL CREDIT OPPORTUNITIES Chris Hentemann ACUITY CORPORATE OPPORTUNITY FUND LTD John Harnisch BEACH POINT TOTAL RETURN OFFSHORE FUND II, LTD Carl Goldsmith, Scott Klein, 1. Max Drawdown: Peak to trough. Inception Liquidity Dates 28 Feb 99 Q 31 Mar 13 Ww 31 Dec 94 Y 30 Jun 06 Q 31 Dec 06 Q 31 Aug 08 Q 30 Jun 11 Q 31 Jul 09 Q 31 Dec 11 Q 30 Sep 12 M 31 Mar 05 Q 31 Mar 11 Q 31 Jan 09 Q 31 Dec 09 M 30 Jun 96 Q Past performance is not a reliable indicator of future performance. Source - HSBC Asset Last NAV or Size $1'622M Mar 14 $84M dan 14 $7'986M Dec 13 $1'612M Mar 14 $119M Apr 14 $3'476M May 14 $1'089M Mar 14 $2'218M Mar 14 $1'824M Mar 14 $415M Mar 14 $2'135M Mar 14 $48M Mar 14 $681M Feb 14 $180M Apr 14 $2'200M Mar 14 Index 539.60 110.78 9,426.68 174.60 217.52 495.53 166.59 117.70 142.79 132.20 353.33 127.81 261.07 152.24 641.53 Date MTD YTD 30 Apr 14 06 May 14 31 Mar 14 31 Mar 14 30 Apr 14 30 Apr 14 31 Mar 14 25 Apr 14 31 Mar 14 30 Apr 14 30 Apr 14 31 Mar 14 31 Mar 14 30 Apr 14 30 Apr 14 Yid Avg. 2014 3.03% 0.94% 3.67% (0.13%) 1.39% (0.55%) 1.26% (0.29%) 2.42% (0.48%) 3.17% 0.01% 3.62% 0.27% 3.31% 0.18% 0.37% 1.28% 3.87% 0.00% 4.55% 0.10% 2.36% 1.46% 1.66% Ytd Avg. 2014 3.13% 1.04% 3.26% (0.13%) 0.22% 0.53% 2.25% 2013 11.22% 9.26% 42.36% 7.45% 12.84% 10.18% 16.35% 6.76% 18.04% 20.05% 10.57% 15.14% 15.24% 8.61% 12.36% 2012 2011 Ann. Return Ann. Vol Max Drawdown! 19.59% 5.11% 11.75% 5.47% (8.94%) Feb 11- Oct 11 9.77% 3.64% (1.019%) May 13 - Jun 13 29.29% 3.53% 26.62% 20.06% (49.05%) Feb 98 - Sep 98 15.18% 6.24% 7.45% 5.15% (12.86%) dun 07 - Nov 08 14.26% 5.8% 11.18% 8.11% (12.14%) Dec 07 - Dec 08 34.85% 4.77% 32.64% 9.66% (8.83%) dul 11 - Oct 11 22.49% 13.15% 20.36% 4.25% 0.00% Jan 00 - Jan 00 -3.87% 9.33% 3.50% 5.70% (12.48%) dun 12 - Dec 13 16.46% - 17.16% 3.32% (0.57%) May 13 - Jun 13 5.33% 19.31% 3.16% (0.119%) May 13 - Jun 13 12.73% 0.81% 14.90% 7.39% (10.77%) dun 08 - Nov 08 28.54% — -15.05% 8.51% 13.32% (18.02%) Mar 11 - Sep 11 34.21% 3.07% 20.42% 6.15% (2.91%) May 11 - Oct 11 11.14% 1.2% 10.19% 4.12% (3.23%) Jul 11 - Nov 11 13.86% 0.98% 10.98% 8.10% (24.04%) Oct 07 - Dec 08 HSBC Alternative Investment Group | 16 EFTA00602715

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Credit Long/Short ph Liquidity Asset LastNAVor Date MTD YTD 2013 2012 2011. Ann. Return = Ann. Vol Max Size Index Drawdown! ; Yid Avg. 2014 Credit/USA 3.13% BRIGADE LEVERAGED CAPITAL STRUCTURES FUND 31 Dec 06 Q $4'867M ~—-1,620.30 30 Apr 0.41% 2.10% 5.95% 6.7% 2.45% 6.80% 6.45% (19.42%) Don Morgan Apr 14 14 Jun 08 - Dec 08 MARINUS OPPORTUNITIES FUND (PROFORMA) 31 Dec 09 Q $319M 159.11 O5May 0.07% 1.99% 6.12% 14.54% 6% 11.28% 2.72% (0.99%) Najib Canaan Mar 14 14 May 13 - Jun 13 MIDOCEAN ABSOLUTE RETURN CREDIT FUND 31 Jan 10 M $303M 146.24 30 Apr 0.97% 3.41% 7.66% 10.87% 9.99% 9.36% 3.52% (3.26%) MidOcean Credit Fund Management LP Feb 14 14 Jul 11-Sep 11 MIDOCEAN CREDIT OPPORTUNITY FUND CLASS B 31 Mar 09 Q $704M 223.79 31Mar 1.21% 3.36% 10.07% 10.78% 746% 17 AT% 6.54% (2.69%) MidOcean Credit Fund Management LP Feb 14 14 Jul 11 - Aug 11 OCP DEBT OPPORTUNITY INTERNATIONAL LTD 30 Jun 01 Q $344M 290.00 30 Apr 0.90% 4.76% 9.93% 9.21% -1.39% 8.64% 6.37% (24.14%) Onex Credit Partners Dec 13 14 dun 07 - Dec 08 OCTAGON HIGH INCOME FUND 31 Jan 11 uM $161M 132.05 30 Apr 0.27% 2.27% 9.04% 19.9% 1.24% 8.94% 7.73% (10.79%) Andrew D. Gordon, Nov 13 14 Jul 11 - Aug 11 ONE WILLIAM STREET CAPITAL FUND 31Mar08 Y/Q = $1181M = 1,837.38 30 Apr 0.85% 3.87% 5.75% 18.98% -4.19% 10.51% 5.87% (8.43%) OWS Capital Management May 14 14 Feb 11 -Now 11 RAVEN ROCK CREDIT OFFSHORE FUND LTD 31 Aug 09 uM $127M 166.77 31Mar 0.36% 3.42% 5.8% 8.46% 6.53% 11.80% 5.01% (3.76%) Nate Brown, Guy Caplan, Bobby Richardson Mar 14 14 Jul 11-Sep 11 TILDEN PARK OFFSHORE INVESTMENT FUND LTD __ 31 Dec 10 Q $1'853M 199.24 31Mar 3.52% 6.62% 20.12% 41.34% 10.07% 23.63% 5.35% (0.90%) Josh Bimbaum Mar 14 14 Sep 11 - Oct 11 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 17 Source - HSBC EFTA00602716

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Distressed Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Inception Liquidity 1 Dates Size Index Drawdown Distressed Security Ytd Avg. 2014 4.54% ; Yid Avg. 2014 Distressed Security/Europe 3.56% KING STREET EUROPE LTD CLASS A 30 Jun 07 Q $1'100M 177.29 30 Apr 0.63% 3.56% 12.53% 10.98% -4.82% 8.73% 6.41% (8.56%) O. Francis Biondi, Jr, Brian J. Higgins Mar 14 14 May 11-Nov 11 : : Yid Avg. 2014 Distressed Security/Global 4.75% CANDLEWOOD SPECIAL SITUATIONS FUND LTD 30 Apr 03 Q $980M 832.79 30 Apr 1.10% 5.92% 12.53% 14.78% 3.88% 21.23% 11.15% (28.11%) Michael Lau and David Koenig Mar 14 14 May 08 - Nov 08 CANYON VALUE REALIZATION FD, LTD - CLASS A 31 Dec 94 Q $6'448M = 7,731.16 30 Apr 0.46% 3.09% 15.65% 18.05% -4.66% 11.15% 8.35% (28.82%) MLR. Julis & J.S. Friedman Mar 14 14 Oct 07 - Nov 08 CERBERUS INTL. LTD CLASS A A/C 191 31 May 93 Q $970M 888,712.26 30 Apr 0.14% 1.07% 14.1% 12.05% 9.6% 11.00% 5.75% (22.26%) Steve Feinberg Feb 14 14 May 08 - Feb 09 CONTRARIAN CAPITAL FUND | OFFSHORE LTD 30 Sep 86 Y $2'866M = 2,704.32 30 Apr 0.47% 4.34% 17.01% 24.31% -1.32% 12.69% 9.61% (33.22%) Jon Bauer Mar 14 14 Jun 07 - Feb 09 DAVIDSON KEMPNER DIST. OPP. INT.LTD-CLASSC 31 Mar 05 Y $941M 2,743.44 30 Apr 0.22% 6.32% 21.95% 13.51% 2.45% 11.75% 9.99% (26.27%) TRN 1 - Dec 13 14 Oct 07 - Nov 08 Anthony A. Yoseloff, Avi Z. Friedman and Conor Bastable KING STREET CAPITAL, LTD 31 Dec 96 Q $12'200M 622.29 30 Apr 0.94% 3.60% 11.63% 12.54% -1.62% 11.12% 4.03% (5.21%) O. Francis Biondi Jr & Brian J. Higgins Mar 14 14 May 11 - Nov 11 LC CAPITAL OFFSHORE FUND, LTD 30 Sep 99 y/Q $110M 366.75 31Mar (0.37%) 6.61% -7.55% 9.61% 0.25% 9.37% 8.79% (34.48%) Steven G Lampe & Richard F Conway dec 13 14 Jun 07 - Feb 09 MONARCH DEBT RECOVERY FUND LTD 31 Mar 02 Y $1'295M =: 3,970.16 31Mar 1.59% 3.32% 18.06% 12.08% -0.45% 12.17% 7.96% (33.02%) Michael Weinstock, Andrew Herenstein Jan 14 14 Oct 07 - Dec 08 MUDRICK DISTRESSED OPPORTUNITY FUND LTD 30 Jun 09 Q $450M 179.66 02 May (0.10%) 10.81% 7.73% 21.85% 3.72% 12.87% 6.09% (8.55%) Jason Mudrick Mar 14 14 Mar 11 - Sep 11 OWS CREDIT OPPORTUNITY FUND 31 Dec 10 YQ $395M 1,427.22 30 Apr 0.85% 5.41% 12.47% 23.41% -2.46% 11.27% 4.91% (7.86%) OWS Capital Management Mar 14 14 Ape 11 - Oct 11 PAULSON CREDIT OPPORTUNITIES LTD 30 Jun 06 Y $3'394M 1,785.88 30 Apr (0.02%) 5.79% 21.8% 8.87% 18.24% 44.45% 40.89% (24.80%) John Paulson Feb 14 14 Apr 11-Sep 11 SILVER POINT CAPITAL OFFSHORE LTD 31 Dec 01 Q $5'111M 4,548.05 30 Apr 0.04% 3.40% 16.11% 20.04% 4.52% 13.06% 8.32% (35.48%) Edward Mulé Jun 13 14 dun 07 - Dec 08 STONE LION FUND LTD CLASS A 31 Oct 08 Q $720M 2,351.01 06 May (0.17%) 3.01% 16.52% 11.31% 0.05% 16.77% 8.27% (8.74%) Greg Hanley and Alan Mintz Apr 14 14 Apr 11-Sep 11 STRATEGIC VALUE RESTRUCTURING FUND 31 Aug 02 Qry = $1'159M 355.95 30 Apr 1.04% 5.90% 16.17% 13.18% -11.,08% 11.49% 7.56% (24.47%) Victor Khosla Dec 12 14 May 07 - Jan 09 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 18 Source HSBC EFTA00602717

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Distressed Inception Liquidity Asset LastNAVor Date MTD YTD 2013 = 2012 2011 Ann. Return = Ann. Vol Max 1 Dates Size Index Drawdown Ytd Avg. 2014 Distressed Security/Global 4.75% VR GLOBAL OFFSHORE FUND LTD 30 Apr 99 Q $1'733M 36,940.78 31Mar 2.61% 2.67% 32.33% 20.69% 3.58% 27.35% 15.06% (48.38%) Richard Deitz Mar 14 14 May 08 - Mar 09 ; ; Yid Avg. 2014 Distressed Security/USA 3.48% HALCYON OFF. ASSET-BACKED VALUE FUND LTD 30 Nov 05 Q $2'377M 2,823.40 30 Apr 1.08% 3.38% 6.66% 16.14% 412% 13.12% 5.46% (13.32%) Joseph Wolnick Joseph Godley and Jim Coppola Mar 14 14 Aug 08 - Mar 09 REDWOOD OFFSHORE FUND 31 Jul 00 Y $3'143M 735.39 30 Apr 0.70% 3.58% 17.62% 21.94% 1.98% 15.61% 10.74% (36.28%) Jonathan Kolatch Mar 14 14 May 07 - Dec 08 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 19 Source - HSBC EFTA00602718

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Equity Long/Short Inception Liquidity Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Dates Size Index Drawdown! Equity-Commodity Yid Avg. 2014 1.08% Yid Avg. 2014 Equity-Commodity/Global 1.08% OCEANIC HEDGE FUND - CLASS A 31 Jul 02 $843M 3,633.91 02 May 0.62% 1.64% 23.3% -7.73% 5.24% 11.59% 8.19% (12.78%) Cato Brahde, Andreas Vergottis, Bjom Rise Sep 13 14 Nov 11 - Jul 12 VAN ECK HARD ASSETS 2X FUND LTD 31 Dec 04 $19M 189.71 31Mar (2.37%) 0.52% “1.05% 11.04% 13.4% TAT% 10.62% (22.23%) Shawn Reynolds and Charles Cameron Apr 13 14 dun 08 - Nov 08 Equity-Diversified Ytd Avg. 2014 (1.58%) re Yid Avg. 2014 Equity-Diversified/Asia (3.80%) AJIA-LIGHTHORSE CHINA GROWTH FUND LTD 31 Dec 05 $137M 353.93 31 Mar (6.07%) (4.39%) 15.85% -14.51% -12.64% 16.55% 20.59% (41.06%) Shawn Kang Feb 14 14 Feb 08 - Dec 08 CC ASIA ABSOLUTE RETURN FUND 30 Jun 05 $431M 203.91 30 Apr (4.53%) (15.94%) 9.37% -2.03% 9.08% 8.40% 14.78% (27.12%) Richard Cardiff, Angus Coupland Jan 14 14 Dec 07 - Dec 08 CHILTON CHINA OPPORTUNITIES FUND LTD 31 Dec 06 $26M 190.14 30 Apr (2.26%) (9.10%) 18.33% 6.63% 23.21% 9.16% 16.88% (26.16%) Kenneth Chiang Mar 13 14 Oct 10 - Aug 12 GOLDEN CHINA FUND NR CLASS 30 Jun 04 $976M 134.28 02 May 0.35% (0.78%) 17.48% 26.91% 3.9% 26.87% 24.79% (64.64%) George Jiang, Feb 14 14 Oct 07 - Nov 08 HT ASIAN CATALYST FUND LLC 31 Dec 98 $107M 19.30 30 Apr (0.77%) (3.64%) 5.42% 9.51% 10.29% 10.01% 11.37% (23.93%) Ms. Ophelia Tong Apr 14 14 Mar 00 - Mar 01 KIMA PAN ASIA OFFSHORE FUND - CLASS -A- 30 Jun 09 $23M 1,278.35 31 Mar (0.51%) (0.36%) 9.63% -1.58% 5.39% 5.30% 7.91% (17.30%) Justin Klintberg, David Nesbitt Sep 13 14 May 11 - Aug 12 NEZU CYCLICALS FUND LTD 31 Jul 05 $187M 238.63 02 May 1.22% 2.62% 27.39% -6.58% 5.09% 10.44% 12.66% (25.06%) Fuyuki Fujiwara Mar 14 14 Oct 07 - Feb 09 OCTAGON PAN ASIA FUND 30 Sep 04 $136M 209.69 31 Mar (0.61%) (3.95%) 4.6% 11.8% 6.07% 8.10% 8.78% (10.69%) Poh Min Lam & Nelson Chia Mar 14 14 Oct 07 - Jan 09 PINPOINT CHINA FUND CLASS A USD 31 May 05 $533M 719.99 30 Apr (0.96%) (2.96%) 9.26% 8.06% 0.6% 24.76% 20.49% (42.16%) Qiang Wang Feb 14 14 Oct 07 - Nov 08 REAL RETURN ASIAN FUND LTD (THE} 30 Sep 04 $484M 273.06 30 Apr (2.49%) (3.58%) 13.35% 9.02% 9.19% 11.05% 9.89% (15.09%) Ezra Sun Mar 14 14 Apr 11 - May 12 TELLIGENT GREATER CHINA FUND 31 Jul 04 $301M 376.44 31 Mar (5.21%) (1.71%) 28.57% 10.76% -17.35% 14.69% 18.55% (46.90%) Ching-Shan Lin Apr 14 14 Oct 07 - Oct 08 WF ASIA FUND LTD S/1 31 Jan 01 $429M 409.40 02 May 0.74% 1.99% 11.72% 27.68% 7.21% 11.22% 13.05% (37.65%) Scobie Ward Mar 14 14 Oct 07 - Nov 08 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 20 Source - HSBC EFTA00602719

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Equity Long/Short Inception Liquidity Dates Equity-Diversified/Asia ZEAL CHINA FUND LIMITED 31 Dec 09 M Daniel POON Chun Pong Equity-Diversified/Brazil BNY MELLON ARX BRAZIL FUND SPC LONG SHORT 31 Jan 07 Bruno Garcia, Frederico Saraiva & Rogerio Poppe Equity-Diversified/Emerging ADELPHI EMERGING EUROPE. FUND USD SHARES ~— 31 Mar 07 Lars Dollmann ARMAJARO EMERGING MARKETS FUND CLASS -A- 31 Jul 09 Miche! Danechi FIREBIRD NEW RUSSIA FUND, LTD - CLASS A 30 Jun 96 Harvey Sawikin & lan Hague FIREBIRD REPUBLICS FUND, LTD 30 Apr 97 Harvey Sawikin & lan Hague GROWTH MANAGEMENT LTD 31 May 98 Stephan Pinter JABCAP EMEA FUND CLASS X1 30 Sep 08 Carl Tohme KALTCHUGA FUND - RUSSIA EQ. SUB-FUND -$- 15 Nov 00 JL. Tauvy MONTLAKE SKYLINE UCITS FUND INSTITUTIONAL 31 Jul 11 SHARE CLASS Geoff Bamber, David Tovar, OCCO EASTERN EUROPEAN FUND A SHARES 31 Dec 01 Pawel Szulc & Andrew Wiles POLLUX BRAZILIAN EQUITIES FUND 31 Oct 07 Rodrigo Fonseca SAGIL LATIN AMERICAN OPPORTUNITIES FUND 30 Jun 09 CLASS A Adrian Landgrebe and Brad Jones SR GLOBAL FUND INC -G- GLOBAL OPPORTUNITIES 29 Feb 96 PTF (Real Perf) Richard Chenevix-Trench SR PHOENICIA INC CLASS -A- SERIES 1 31 Jul 01 Richard Atherton 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC $656M Jan 14 $55M Dec 13 $170M Feb 13 $29M Mar 14 $150M Mar 14 $180M Mar 14 $159M Sep 13 $184M Mar 14 $59M dun 13 $152M dan 14 $677M Apr 14 $46M dun 13 $55M Mar 14 $460M dan 14 $140M dan 14 Asset Last NAV or Size Index 137.09 1,751.09 143.06 130.47 2,112.66 1,086.95 352.39 231.12 6,944.03 137.98 389.25 145.96 141.02 1,294.22 464.42 Date MTD YTD 02 May 14 02 May 14 30 Apr 14 02 May 14 30 Apr 14 30 Apr 14 31 Mar 14 14 Apr 14 30 Apr 14 29 Apr 14 30 Apr 14 30 Apr 14 18 Apr 14 05 May 14 05 May 14 Yid Avg. 2014 1.40% Yid Avg. 2014 0.67% Yid Avg. 2014 (3.32%) 0.47% (2.79%) (0.15%) (0.33%) (1.21%) (4.01%) (0.03%) O.17% 1.77% 2.67% 0.50% 0.83% (3.80%) (7.54%) 0.33% 0.33% (4.98%) (9.86%) (3.26%) (14.28%) (5.62%) (4.84%) 2.92% (19.13%) (3.17%) (1.68%) (2.27%) 4.09% (3.45%) (4.22%) 2013 5.55% 5.22% 20.69% 8.23% 4.08% 24.05% 7.2% 9.23% 7.78% 10.01% 11.63% 3.41% 7.75% 18.09% 20.89% 2012 2011 Ann. Return Ann. Vol Max Drawdown! 12.9% 6.18% 7.54% 14.29% (13.00%) Dec 09 - Feb 10 11.03% 3.58% 8.03% 8.74% (23.95%) Jun 08 - Oct 08 “2.13% -15.92% 5.18% 13.50% (28.62%) May 08 - Jan 09 17.35% -22.31% 5.75% 14.11% (28.30%) Apr 11 - Dec 11 11.42% — -14.62% 18.64% 39.26% (81.79%) Mar 98 - Sep 98 13.26% -19.42% 15.06% 30.19% (73.20%) Sep 97 - Jan 99 6.37% 6.15% 8.27% 7.21% (33.23%) Jun 08 - Jul 12 6.94% 3.2% 16.32% 10.19% (10.02%) Apr 11 - May 12 12.91% -20.88% 15.48% 33.83% (81.80%) Dec 07 - Jan 09 25% 3.62% 12.43% 11.58% (9.65%) Oct 13 - Jan 14 7.73% 5.42% 12.71% 7.63% (20.86%) Jun 08 - Oct 08 13.12% 0.39% 5.99% 7.93% (9.59%) May 08 - Oct 08 14.46% -9.01% 7.42% 8.17% (12.35%) Oct 10 - Sep 11 0.88% — -17.2% 18.60% 17.87% (37.25%) Oct 07 - Feb 09 8.13% — -20.97% 12.78% 18.08% (56.02%) Oct 07 - Feb 09 HSBC Alternative Investment Group | 21 EFTA00602720

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Equity Long/Short Inception Liquidity Asset LastNAVor Date MTD YTD 2013 §=2012 2011 Ann. Return Ann. Vol Max 1 Dates Size Index Drawdown ae Yid Avg. 2014 Equity-Diversified/Europe (0.07%) ADELPHI EUR. FUND § (A) 30 Sep 97 Q $1'139M 470.19 30 Apr (2.00%) (0.56%) 17.28% 14.08% 4.91% 9.78% 11.68% (26.28%) Roderick Jack, Marcel! Jongen Feb 13 14 May 07 - Feb 09 ADRIGO HEDGE 30 Nov 06 uM $211M 166.54 30 Apr 0.16% 4.16% 12.83% 5.91% 0.17% TAQ 5.31% (9.13%) Géran Tomée Apr 14 14 May 07 - Oct 08 ANTARES EUROPEAN FUND, LTD - USD 08 Dec 98 M $750M 574.71 02May 0.33% 4.70% 28.79% 1.7% 10.75% 12.02% 15.13% (32.68%) Peter Miles Testa, Luca Orsini Baroni Dec 13 14 dun 07 - Dec 08 AQUILUS INFLECTION FUND LTD EUR SHS. 31 Jul 07 uM €296M 128.58 30 Apr (0.75%) 1.18% 14.59% 18.73% -14.14% 3.79% 8.96% (22.46%) Richard Vogel Mar 14 14 Oct 07 - Oct 08 CAPEVIEW AZRI 2X FUND 30 Sep 10 M $215M 155.58 30 Apr (2.54%) (0.35%) 24.8% 12.65% 4.31% 13.12% 6.32% (4.69%) Michael Sakkas and Sushil Shah Jan 14 14 Feb 14- Apr 14 CAPEVIEW AZRI FUND 31 Oct 07 uM $300M 170.28 30 Apr (1.34%) (0.21%) 11.51% 5.82% 1.29% 8.53% 3.63% (2.41%) Michael Sakkas and Sushil Shah Jan 13 14 Feb 14- Apr 14 GLG EUROPEAN LONG SHORT FUND CL-D- Inst 30 Sep 00 M $982M 318.61 02 May 0.33% (4.32%) 7.09% 5.75% 7% 8.90% 8.14% (17.94%) Pierre Lagrange, Simon Savage, Darren Hodges Apr 14 14 Oct 07 - Oct 08 JPMORGAN PORT. STRAT. FUNDS-EUROPE 30 Sep 03 uM $507M 420.98 02 May (0.02%) (0.75%) 15.93% -4.72% 10.2% 14.53% 8.57% (16.39%) DYNAMIC L/S FUND-A10-03 Jan 14 14 Jun 08 - Nov 09 Jonathan Ingram, John Baker, Anis Lahlou-Abid LANSDOWNE EUROPEAN EQUITY FD,LTD-A(EUR) 31 Aug 98 M $397M 211.47 30 Apr (5.26%) (1.58%) 21.51% 4.56% -12.68% 9.48% 11.72% (21.60%) 14 Alex Snow & S. Heinz Jan 14 May 08 - Feb 09 LC EQUITY FUND LTD 30 Sep 05 M CHF121M 281.65 30 Apr 0.31% 3.06% 5.27% 2.04% 0.83% 12.82% 6.03% (5.29%) Limmat Capital Alternative Investments AG Apr 14 14 Jun 11 - Aug 11 LUCERNE CAPITAL OFFSHORE FUND LTD 30 Apr 03 M $84M 451.50 31Mar 2.71% 5.41% 28.69% 26.52% -19.79% 14.79% 21.94% (58.36%) Pieter Taselaar, Thijs Hovers Mar 14 14 May 07 - Feb 09 MADRAGUE EQUITY LONG SHORT 31 Jan 12 $200M 137.07 31 Mar (0.24%) 1.41% 31.03% 3.16% 15.68% 8.79% (8.92%) Madrague Capital Partners Mar 14 14 dan 12 - Jun 12 MARSHALL WACE - MW CORE A USD 31 Oct 06 M $206M 143.22 06 May 0.59% 0.94% 7.44% 8.72% 5.65% 4.89% 8.74% (26.47%) Emesto Fragomeni Jan 14 14 Jun 07 - Sep 08 MARSHALL WACE - MW EUROPEAN TOPS A EUR 31 Dec 04 uM $231M 202.11 O06 May 0.04% (0.79%) 16.17% 11.31% 4.29% 7.82% 7.72% (21.75%) Anthony Clake dan 14 14 Oct 07 - Feb 09 MARTIN CURRIE EUROPEAN HEDGE FUND CLASS 31 Dec 00 M $39M 304.36 30 Apr (2.38%) (0.29%) 21.33% 13.51% -8.53% TAT% 7.55% (11.03%) -B- Mar 14 14 Jun 08 - Feb 09 Michael Browne & Steve Frost MBAM ACTIVE ENHANCED 30 Jun 13 uM $80M 102.59 30 Apr (4.11%) (1.04%) 3.67% 3.11% 7.36% (4.83%) Hilton Nathanson Mar 14 14 Feb 14- Apr 14 MLIS - THEOREMA EUROPEAN EQUITY LONG SHORT 31 May 10 D €92M 111.23 06 May (0.19%) (4.33%) 7.94% 4.37% 0.27% 2.74% 7.65% (12.02%) UCITS FUND - EUR B (acc) Feb 14 14 Sep 11 - Jul 12 Theorema Asset Management Limited 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 22 Source - HSBC EFTA00602721

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Equity Long/Short Inception Liquidity Dates Equity-Diversified/Europe MOJNA ALPHA LEVERAGED MASTER FUND - EUR 30 Nov 07 M Jakob Nordesteat, Michael O'Mara MOJNA ALPHA MASTER FUND - EUR 31 Dec 02 uM Jakob Nordesteat, & Michael O'Mara NORDIC ALPHA CLASS B - NOK 31 Aug 03 M Thomas Raaschou, Christian T. Nygaard ODEY EUROPEAN, INC (EUR) 31 May 92 Ww Crispin Odey PELHAM LONG/SHORT FUND LTD CLASS A EUR 31 Oct 07 M Ross Turner PENSATO EUROPA FUND LTD EURO CLASS 31 May 08 uM Graham Clapp & Edward Rumble POLAR CAPITAL EUROP CONVICTION FUND LIMITED 31 Mar 06 M Robert Gurner RBR EUROPEAN LONG SHORT LTD (Ex Rhine Alpha 30 Apr 05 M Stars) Rudolf Bohil RWC SAMSARA FUND CLASS A EURO 17 Sep 07 M Ajay Gambhir SIERRA EUROPE OFFSHORE, LTD - CLASS C USD 28 Feb 97 uM Charles Michaels SUSA EUROPEAN EQUITIES FUND CLASS ANIE EUR 28 Feb 09 M Reza Amini THEOREMA EUROPE FUND PLUS LTD B/1 USD 31 Aug 04 uM G. Govi THREE BRIDGES EUROPE MASTER FUND 31 Aug 06 M Gene Salamon TT MID-CAP EUROPE LONG/SHORT FUNDLTD-CLB = 30 Apr 05 M David Grimbley ZADIG FUND CLASS A1 30 Nov 05 M Laurent Saglio Equity-Diversified/Global ANAVON MASTER FUND LTD CLASS -B- 31 Dec 10 M Avi Fruchter and Avraham Mevorah ATLAS FUNDAMENTAL TRADING FUND LTD- CLASS A 30 Jun 08 M Dmitry Balyasny, Managing Partner & ClO 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC Asset Last NAV or Size $254M Nov 13 $281M Mar 13 NOK770M Mar 14 €1'763M Dec 13 €2601M Feb 14 €129M Mar 14 €115M Mar 14 $90M May 13 $135M Mar 14 $106M Mar 14 $192M Mar 14 $20M DEc 13 $565M Jan 14 $757M Mar 14 €297M Nov 13 $74M Apr 14 $89M Mar 14 Index 163.81 171.89 231.90 799.48 192.28 129.18 158.70 2,894.90 145.34 523.89 180.13 261.30 165.44 283.72 224.35 127.95 1,372.66 Date MTD YTD 02 May 14 02 May 14 31 Mar 14 30 Apr 14 31 Mar 14 31 Mar 14 02 May 14 30 Apr 14 30 Apr 14 02 May 14 02 May 14 02 May 14 30 Apr 14 30 Apr 14 02 May 14 30 Apr 14 30 Apr 14 Yid Avg. 2014 1.07% 0.40% (1.05%) (7.91%) (1.80%) (0.79%) (0.13%) (0.25%) 0.82% 0.40% 1.54% 0.34% (2.20%) (2.02%) 0.92% Yid Avg. 2014 (1.20%) 2.13% (0.07%) (3.80%) (1.86%) 4.61% (12.18%) 2.78% (2.75%) (0.81%) 7.45% 3.29% 0.73% 2.69% (4.69%) (4.90%) 2.44% (1.82%) (0.64%) (3.10%) 11.56% 2013 14.82% 4.93% 23.77% 25.76% 32.52% 1.99% 1.9% 20.33% 17.47% 448% 17.78% 11.16% 26.03% 14.43% 8.9% 11.45% 8.31% 2012 2011 Ann. Return Ann. Vol Max Drawdown! 4.33% 5.58% 7.98% 6.21% (6.96%) Feb 12 - Jul 12 2.69% 1.39% 4.89% 2.65% (3.27%) Feb 12-Jul 12 12.14% -14.91% 8.28% 11.20% (32.36%) Dec 07 - Feb 09 30.69% 20.56% 13.36% 16.15% (50.64%) Jan 94 - Jul 95 16.89% -10.68% 10.72% 10.89% (12.25%) May 08 - Dec 08 11.22% — -0.28% 448% 5.81% (5.40%) Jun 08 - Sep 08 8.07% 6.45% 5.87% 8.33% (5.84%) May 11 - Aug 11 29.45% -11.71% 12.53% 18.76% (55.01%) Jun 07 - Nov 08 2.97% 0.85% 5.81% 7.87% (11.60%) Jun 11 - May 12 11.82% 4.88% 10.12% 8.87% (16.98%) Mar 00 - Jan 03 15.22% -10.33% 12.04% 11.35% (16.04%) May 11 - Sep 11 5.6% 0.29% 10.44% 12.00% (15.14%) Sep 11 - Jul 12 4.57% “7.58% 6.78% 8.32% (11.88%) Jun 08 - Oct 08 6.9% 1.72% 12.28% 8.69% (7.41%) Apr 06 - Sep 06 11.02% 3.56% 10.07% 11.19% (19.14%) Aug 08 - Oct 08 12.62% 5.19% 7.68% 7.60% (8.57%) Jul 11 - Sep 11 3.45% 7.03% 5.58% 8.89% (13.45%) Sep 11 - Jun 13 HSBC Alternative Investment Group | 23 EFTA00602722

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Equity Long/Short Inception Liquidity Dates Equity-Diversified/Global BEACONLIGHT OFFSHORE FUND LTD 31 Dec 09 Q Ed Bosek BROOKFIELD GLOBAL LISTED INFRASTRUCTURE 30 Apr 08 uM SEC. OFFSHORE FUND Brooktield Investment Management Inc. DUET GLOBAL FUND PLUS 31 Jul 10 Jason McNab EXANE TEMPLIERS FUND 28 Feb 06 Ww Jean-Francois Roussel, Stéphane Arrouays, Henri-Daniel Samama, Exane Asset Management FARRINGDON ALPHA ONE 31 Dec 06 M Bram Comelisse, Andreas Tholstrup, Dennis van Wees GLADE BROOK GLOBAL OFFSHORE FUND LTD 30 Sep 11 Q CLASS-A- NR- Paul Hudson HABROK LTD 31 Mar 04 Q Ketan Gadhia and Rahul Khanna HORSEMAN GLOBAL FUND USD 31 Jan 01 uM Russell Clark KINSALE COMPASS FUND 31 Oct 11 M Peter A Kinney LANSDOWNE DEVELOPED MARKET FUND, LTD (GBP) 31 Jul 01 uM Alex Snow & S. Heinz LAZARD GLOBAL HEXAGON FUND 31 May 10 M Jean-Daniel Malan M. KINGDON OFFSHORE NV - A/1 28 Feb 86 Q Mark Kingdon MARSHALL WACE - MW EUREKA At EUR 07 Jan 98 M Paul Marshall MARSHALL WACE - MW GLOBAL OPPORTUNITIES A =. 28 Feb 09 M USD Fehim Sever MAVERICK FUND, LTD - CLASS A/1 28 Feb 95 M Lee Ainslie Hil MS ASCEND UCITS FUND CLASS | EUR 30 Apr 11 Ww Malcolm Fairbaim 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC Asset Last NAV or Size $110M Mar 14 $76M dan 14 $1'500M Feb 14 €170M Mar 14 $250M Sep 13 $376M Mar 14 $134M Mar 14 $253M dan 14 €150M Mar 14 $8'211M dan 14 $297M Mar 14 $1'382M Apr 14 $4'548M Jan 14 $1°585 M dan 14 $2°670M Mar 13 $126M Jul 13 Index 139.21 209.50 125.38 17,471.70 188.31 1,180.38 279.57 573.04 141.56 561.60 123.95 153.33 385.30 218.44 1,321.95 1,044.53 Date MTD YTD 31 Mar 30 Apr 14 31 Mar 06 May 14 02 May 14 30 Apr 14 30 Apr 14 30 Apr 14 31 Mar 14 30 Apr 14 25 Apr 14 02 May 14 06 May 14 06 May 14 02 May 14 06 May 14 Yid Avg. 2014 (0.07%) 1.04% (0.33%) (0.04%) (0.42%) (5.00%) (3.33%) (0.61%) 0.24% (7.08%) (0.72%) 0.21% 0.71% 0.29% 1.45% 0.44% (0.64%) 3.27% 2.48% 0.22% (0.96%) 5.44% (6.53%) (2.34%) 9.05% 2.92% (7.16%) (1.60%) 0.58% (1.84%) (2.18%) (1.59%) 0.34% 2013 22.4% 113% 3.95% 1.85% 10.56% 19.76% 13.15% 19.15% 15.74% 33.26% 8.98% 23.82% 21.61% 13.37% 16.46% 12.16% 2012 2011 Ann. Return Ann. Vol Max Drawdown! 6.8% 5.78% 8.09% 9.10% (15.02%) Mar 11 - Sep 11 16.99% 5.17% 13.11% 13.31% (22.19%) Apr 08 - Nov 08 11.05% 8.05% 8.01% 3.16% (0.87%) Jun 11 - Aug 11 0.77% 0.49% 5.12% 3.10% (2.89%) Apr 11 -May 12 19.44% — -12.63% 9.01% 11.43% (16.50%) May 08 - Oct 08 13.1% 6.77% 6.63% 9.21% (10.26%) Feb 14 - Apr 14 6.85% “9.66% 10.73% 14.94% (38.55%) May 08 - Jan 09 16.28% — -2.98% 14.08% 16.13% (33.75%) Feb 09 - Jun 10 16.75% 1.79% 15.47% 3.71% (2.10%) Apr 12 - May 12 17.87% — -20.07% 14.49% 10.96% (20.07%) Dec 10 - Dec 11 13.45% — -2.08% 5.38% 4.88% (7.43%) May 11 - Sep 11 11.78% — -18.03% 14.97% 12.69% (30.15%) Sep 87 - Oct 87 7.45% 9.74% 13.16% 9.11% (23.24%) Oct 07 - Oct 08 6.83% 27.16% 16.26% 9.75% (4.94%) Nov 11 - Jan 12 15.46% -14.85% 11.99% 11.50% (30.04%) May 08 - Nov 08 0.14% -7.06% 1.45% 4.30% (7.23%) May 11 - Dec 12 HSBC Alternative Investment Group | 24 EFTA00602723

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Equity Long/Short Equity-Diversified/Global NEVSKY FUND PLC (COMPOSITE) Martin Taylor and Nick Barnes PASSPORT GLOBAL STRATEGY FUND John Burbank PASSPORT LONG SHORT STRATEGY FUND John Burbank, Tim Garry PASSPORT SPECIAL OPPORTUNITIES FUND LTD CLASS AA John Burbank PLATINUM FUND LTD Kerr Neilson SR GLOBAL FUND C - INTERNATIONAL (Real Perf) Hugh Sloane STANDARD PACIFIC CAPITAL -B- Doug Dillard and Raj Venkatesan STK CAPITAL GLOBAL EQUITIES Daniel Grozdea Equity-Diversified/Japan AKAMATSU FUND Philip Kay ALPHAGEN HOKUTO FUND LTD - CLASS A John Stewart & Robert Tull ALPHAGEN JAPAN ABS RETURN FD, LTD William Garnett and Jeremy Hall ARCUS JAPAN FUND -JPY- Robert Macrae MARATHON VERTEX JAPAN FD, LTD CLASS B William Arah MARTIN CURRIE ARF - JAPAN FUND John-Paul Temperley SFP VALUE REALIZATION FUND Greg McEntyre SR GLOBAL FUND H - JAPAN (Real Perf) Hugh Sloane, Alex Kydd UMJ KOTOSHIRO FUND Masahiro Koshiba 1. Max Drawdown: Peak to trough. Inception Liquidity Dates 30 Sep 00 M 31 Jul 00 Q 30 Jun 10 M 30 Apr0B =« HY 31 May 94 M 31 Dec 93 uM 30 Sep 95 Q 30 Nov 10 uM 31 Dec 04 M 31 Oct 00 uM 30 Jun 00 M 31 Mar 99 D 31 May 03 Q 30 Jun 00 M 31 Oct 03 Q 30 Sep 03 M 31 Oct 08 M Past performance is not a reliable indicator of future performance. Source - HSBC Asset LastNAVor Date MTD YTD 2013 Size $999M Apr 13 $1'500M Feb 14 $1'073M Apr 14 $468M Apr 14 $542M Mar 14 $570M dan 14 $199M Feb 14 $106M Apr 14 $98M Mar 14 $345M Apr 14 $358M Apr 14 $10M Apr 14 $491M Jan 14 $225M Mar 14 $251M Aug 13 $140M dan 14 $120M Mar 14 Index 1,281.15 1,009.26 141.01 204.58 89.94 500.04 481.68 125.51 186.49 202.82 264.74 39,138.00 2,359.69 21.01 328.02 148.03 177.65 17 Apr 14 30 Apr 14 30 Apr 14 30 Apr 14 30 Apr 14 05 May 14 30 Apr 14 30 Apr 14 31 Mar 14 02 May 14 02 May 14 07 May 14 30 Apr 14 30 Apr 14 30 Apr 14 05 May 14 31 Mar 14 Yid Avg. 2014 (0.64%) 0.98% (3.23%) 18.07% (3.40%) 0.26% 23.02% (0.90%) (0.24%) 19.89% (5.50%) 6.30% 45.5% (0.72%) (0.57%) 21.76% 1.40% (18.41%) 36.28% (4.25%) (5.41%) 20.2% (0.50%) (3.97%) 16.09% Ytd Avg. 2014 (5.22%) (0.42%) (1.76%) 21.71% 0.25% (2.96%) 7.4% 1.86% (1.97%) 26.63% (0.21%) (3.02%) 26.98% (2.79%) (4.85%) 23.38% (0.65%) (7.81%) 28.56% (6.07%) (7.23%) 82.11% 1.90% (18.43%) 62.51% 2.26% 1.07% 32.05% 2012 2011 Ann. Return Ann. Vol Max Drawdown! 14.61% 0.62% 20.70% 14.20% (22.14%) Oct 07 - Feb 09 11.08% -18.74% 18.30% 26.37% (52.74%) Jun 08 - Dec 08 12.13% — -7.19% 9.37% 8.34% (10.06%) Apr 11-Dec 11 5.67% -19.91% 12.66% 27.19% (43.24%) Jun 08 - Nov 08 17.44% — -13.51% 11.65% 12.25% (30.48%) Oct 07 - Feb 09 1.03% 24.27% 11.43% 21.18% (50.10%) Apr 08 - Aug 12 466% 5.24% 8.82% 8.19% (15.87%) Jul 11 - Now 12 9.35% 1.64% 6.88% 8.21% (8.80%) Apr 11-Sep 11 3.45% 0.85% 6.97% 7.11% (12.18%) Mar 12 - Oct 12 1.01% 0.13% 5.37% 4.30% (4.80%) May 11 - Aug 12 0.58% 8.58% 7.28% 9.95% (19.05%) Feb 11 - Aug 12 19.15% 4.68% 9.45% 15.24% (45.94%) Feb 07 - Feb 09 4.89% 0.59% 8.18% 8.38% (11.76%) Jun 09 - Oct 10 4.23% 8.4% 5.51% 8.29% (15.76%) Apr 10 - May 12 44.54% 7.42% 11.97% 19.80% (55.47%) Jan 06 - Oct 10 31.05% 8.33% 4.08% 20.78% (35.57%) Mar 08 - Jul 10 17.83% 12.2% 11.19% 8.14% (9.48%) Jul 09 - Sep 10 HSBC Alternative Investment Group | 25 EFTA00602724

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Equity Long/Short Equity-Diversified/UK ALPHAGEN OCTANIS CLASS A Ben Wallace & Luke Newman BLACKROCK UK EQUITY HEDGE FUND Nigel! Ridge & Imran Sattar PEGASUS FUND LIMITED SHARES A-1 David Yarrow, Angus Donaldson Equity-Diversified/USA AJR INTERNATIONAL (BVI), INC. - A/T Alexander J. Roepers ALLIANCE BERNSTEIN SELECT US EQUITY LONG SHORT Kurt Feuerman ALYDAR FUND LTD John Murphy ALYSHEBA FUND LIMITED John A. Murphy, Philip C. Furse ASCEND PARTNERS FUND II LTD- A Malcolm Fairbairn BAY RESOURCES PARTNERS OFFSHORE FUND Thomas Claugus BCM WESTON LP (BILLINGS CAPITAL MANAGEMENT) Billings Capital Management LLC CASTLEROCK FUND LTD Paul Tanico COBALT OFFSHORE LTD Wayne Cooperman ELM RIDGE CAPITAL PARTNERS L.P. Ronald Guttleish EMINENCE FUND LTD A INITIAL SERIES Ricky C. Sandler GLENVIEW CAPITAL PARTNERS (CAYMAN), LTD. Lawrence M. Robbins HIGHBRIDGE LONG/SHORT EQUITY FUND, LTD Alex McAree INVICTA OFFSHORE FUND LTD James Alpha LLC 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC Inception Liquidity Dates 28 Feb 05 M 30 Apr 05 M 31 Oct 97 M 31 Jan 93 M 30Nov99 -Y/Q 28 Feb 03 Q 31 Mar 05 Q 31 Jan 04 Q 31 Jul 98 M 31 Jan 08 M 31 Aug 96 Q 31 Dec 96 Q 31 Dec 99 Q 31 Dec 98 Q 31 Dec 00 Q 30 Apr 04 Q 31 Dec 09 M Size $1'955M Apr 14 $412M Mar 14 $135M Jan 14 $521M Dec 12 $147M Mar 14 $361M Dec 12 $201M Dec 13 $487M Dec 13 $2'748M Feb 14 $56M Mar 14 $108M dan 13 $683M Dec 13 $613M dan 14 $3'967M Apr 14 $3'666M Feb 14 $430M Oct 13 $87M Feb 14 Asset Last NAV or Index 237.39 196.02 64.36 1,281.26 4,427.37 214.67 2,682.01 198.96 10,422.97 226.38 699.43 780.27 543.89 689.89 642.41 2,239.41 164.08 Date MTD YTD 2013 02 May 14 30 Apr 14 02 May 14 02 May 14 06 May 14 30 Apr 14 30 Apr 14 02 May 14 30 Apr 14 31 Mar 14 31 Mar 14 30 Apr 14 30 Apr 14 02 May 14 30 Apr 14 31 Mar 14 31 Mar 14 Yid Avg. 2014 (2.05%) 0.26% 0.02% 16.77% (1.15%) (0.74%) 6.42% 1.98% (5.43%) 63.74% Yid Avg. 2014 (0.23%) (0.09%) 6.14% 20.33% (0.29%) (0.48%) 16.27% (2.80%) (2.56%) 15.85% (2.40%) (5.99%) 15.13% 0.59% 1.15% 11.59% 1.60% 1.40% 22.23% 2.67% (2.37%) 50.32% (1.15%) (3.65%) 12.73% (0.42%) 1.72% 8.88% (0.60%) 2.17% 22.28% 0.60% 3.10% 146% (1.62%) 1.30% 42.9% (1.33%) 1.53% 14.81% (2.43%) (4.20%) 18.27% 2012 2011 Ann. Return Ann. Vol Max Drawdown! 3.87% 0.47% 9.88% 6.19% (10.72%) May 07 - Mar 08 4.27% 248% 7.76% 5.82% (11.70%) Jun 08 - Oct 08 1.06% 1.11% 11.99% 15.51% (35.27%) May 98 - Oct 98 3.85% 6% 12.74% 19.01% (44.44%) May 08 - Dec 08 6.17% 0.81% 10.85% 7.17% (9.98%) May 08 - Feb 09 1.07% -0.68% 7.07% 4.83% (6.49%) Jun 11 - May 12 2.83% 2.51% 11.47% 12.74% (25.80%) May 08 - Nov 08 3.48% -2.86% 6.94% 4.37% (5.23%) Apr 11 - Dec 11 9.24% 6.89% 16.04% 16.11% (39.02%) May 08 - Feb 09 15.2% 8.95% 14.17% 10.71% (13.70%) Mar 11 - Sep 11 “3.82% -23.84% 11.69% 16.82% (37.70%) May 01 - Feb 03 4.49% 0.66% 12.58% 8.07% (19.53%) Apr 98 - Sep 98 14.08% 0.7% 12.54% 13.02% (19.41%) Apr 10 - Nov 12 23.83% 1.29% 13.41% 9.56% (19.99%) Dec 07 - Dec 08 24.24% -10.95% 14.97% 16.28% (49.17%) May 07 - Dec 08 11.02% -12.64% 8.46% 10.03% (21.12%) Mar 11 - Sep 11 “3.28% = 10.18% 12.36% 10.20% (10.11%) Mar 12 - Apr 13 HSBC Alternative Investment Group | 26 EFTA00602725

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Equity Long/Short Asset LastNAVor Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Inception Liquidity 1 Dates Size Index Drawdown a Yid Avg. 2014 Equity-Diversified/USA (0.23%) IVORY CAPITAL FLAGSHIP STRATEGY 30 Nov 98 M $1'017M 4,274.33 30 Apr (1.26%) 2.33% 17.07% 10.5% 3.54% 9.88% 5.99% (12.61%) Curtis Macnguyen Mar 14 14 May 08 - Nov 08 IVORY OPTIMAL FUND LTD 30 Apr 05 Q $1'083M 245.41 30 Apr (1.83%) 3.90% 28.28% 16.41% 4.37% 10.48% 10.77% (24.93%) Curtis Macnguyen Mar 14 14 May 08 - Dec 08 KINETICS FUND, INC - A/A 31 Jan 01 M $190M 3,393.73 30 Apr (1.34%) (1.95%) 39.74% 27.42% -14.83% 9.66% 22.13% (76.20%) Peter B. Doyle Apr 14 14 Oct 07 - Feb 09 MADISON STREET FUND L.P. 31 Jan 04 M $39M 2,938.96 31Mar (1.64%) 0.42% 26.78% 5.79% 3.04% 11.18% 7.07% (9.59%) Steven C. Owsley & Drew M. Hayworth Dec 13 14 Apr 11-Sep 11 OMEGA OVERSEAS PARTNERS, LTD CLASS A 31 Dec 91 M $2'382M 969.28 SO Apr 0.13% 1.05% 30.02% 25.66% 2.97% 10.70% 14.62% (42.55%) Leon Cooperman Jan 14 14 May 07 - Feb 09 RENAISSANCE INSTITUTIONAL EQUITIES LP (B) 31 Jul 05 M $1'680M 191.28 30 Apr (0.07%) 0.51% 16.78% 8.29% 34.12% 7.69% 10.37% (35.73%) Renaissance Technologies LLC Feb 14 14 May 07 - Apr 09 RWC US ABSOLUTE ALPHA FUND - CLASS B 30 Sep 09 D $127M 127.10 05 May 0.32% 0.48% 14.28% 16.32% 2.25% 5.36% 5.75% (9.19%) Mike Corcell Oct 13 14 Apr 10 - Dec 11 SAB OVERSEAS FUND LTD 31 Jul 00 3Q/Q $320M 462.69 30 Apr (0.90%) (4.98%) 23.57% 21.5% 0.71% 11.78% 11.26% (17.57%) Scott Bommer Dec 12 14 Mar 10 - Aug 10 SEMINOLE OFFSHORE FUND 31 May 98 Q $1'308M 754.10 02May 0.20% 3.21% 23.18% 5.08% 0.7% 13.52% 12.49% (15.62%) Michael G. Messner, Paul C. Shiverick Mar 14 14 May 02 - Mar 03 ZWEIG-DIMENNA INTL LIMITED - CLASS A 31 May 87 Q $1'327M =: 92,715.54 30 Apr (3.04%) (9.81%) 21.25% -1.18% 2.37% 14.25% 15.10% (50.23%) Joseph DiMenna / Martin Zweig Jan 14 14 Feb 00 - Dec 02 Equity-Energy Ytd Avg. 2014 12.67% ; Yid Avg. 2014 Equity-Energy/USA 12.67% DORSET ENERGY FUND, LTD - CLASS A 31 Oct 00 M $275M 62.66 SO Apr 5.37% 12.67% 29.76% -6.43% 1.27% 14.56% 21.02% (49.55%) David M. Knott, Donald Textor Mar 14 14 dun 08 - Dec 08 Equity-Financial Ytd Avg. 2014 (4.58%) . Yid Avg. 2014 Equity-Financial/Global (4.58%) BAY POND INVESTORS (BERMUDA), LP -A/1- NEW 31 Dec 95 BY $6'287M 216.59 30 Apr (3.10%) (2.27%) 20.27% 20.41% -12.53% 18.25% 16.77% (63.22%) ISSUE Mar 14 14 Apr 98 - Mar 99 Nicholas C. Adams, Partner LANSDOWNE GLOBAL FINANCIALS FUND LTD. 30 Jun 04 M $1'257M 295.67 30 Apr (6.31%) (9.80%) 23.03% 17.78% -20.82% 11.65% 13.63% (26.25%) -N-USD Nov 13 14 Apr 10 - May 12 Williamde Winton 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 27 Source - HSBC EFTA00602726

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Equity Long/Short Inception Liquidity Asset LastNAVor Date MTD YTD 2013 = 2012 2011 Ann. Return = Ann. Vol Max 1 Dates Size Index Drawdown Yid Avg. 2014 Equity-Financial/Global (4.58%) MARSHALL WACE - MW GLOBAL FINANCIALS M/NA — 31 Oct 08 $57M 129.32 O06 May 0.94% (0.10%) 5.76% -0.75% 3.21% 477% 5.61% (8.01%) USD dan 14 14 Nov 11 - Aug 12 Amit Rajpal TOSCA CLASS A- USD 30 Sep 00 $681M 268.11 30 Apr (2.09%) (6.13%) 30.5% 24.94% 1.14% 7.53% 17.32% (67.54%) Johnny de la Hey Sep 13 14 Dec 07 - Nov 08 Equity-Healthcare Ytd Avg. 2014 (2.46%) Ytd Avg. 2014 Equity-Healthcare/Global (2.46%) CCI HEALTHCARE PARTNERS LTD 31 Dec 00 $1'193M 312.21 30 Apr (5.91%) (6.23%) 26.54% 6.56% 3.99% 8.91% 8.56% (17.89%) Oliver Marti, CCI Healthcare Partners Apr 14 14 Oct 07 - Sep 08 JENOP GLOBAL HEALTHCARE FUND LTD SERIES A 31 Oct 12 $177M 12.72 30 Apr (7.55%) 0.51% 2717% 0.45% 17 AT% 13.34% (11.12%) David Chan Feb 14 14 Feb 14- Apr 14 MLIS - CCl HEALTHCARE LONG SHORT UCITS FUND - 31 Jan 10 $340M 130.10 06 May (0.46%) (6.82%) 26.97% 5.51% 2.72% 6.37% 9.20% (10.98%) B (acc) USD dan 14 14 Feb 14 - May 14 Oliver Marti, CCI Healthcare Partners VISIUM INSTITUTIONAL PARTNERS FUND LTD 31 May 10 $131M 130.86 02 May 0.72% 2.72% 20.91% 5.73% 1.28% 7.09% 6.43% (5.86%) Jacob Gottlieb, Visium Asset Management Feb 14 14 Apr 11-Sep 11 Equity-Mid-Small Cap Ytd Avg. 2014 5.14% ; Yid Avg. 2014 Equity-Mid-Small Cap/Europe 5.51% ENNISMORE EUROPEAN SMALLER COMPANIES. 30 Nov 99 €72M 416.58 24 Apr 1.92% 7.19% 23.49% 9.65% 11.36% 13.05% 10.67% (34.24%) Geoff Oldfield Jan 14 14 Jul 07 - Apr 09 POLAR CAPITAL EUROPEAN FORAGER FUND LTD - 31 Jul 03 €434M 320.75 02 May (0.42%) 3.83% 11.79% 11.93% 2.39% 11.44% 7.29% (21.47%) AX Dec 13 14 Oct 07 - Feb 09 Rob Gurner Ytd Avg. 2014 Equity-Mid-Small Cap/Global 4.21% RAB SPECIAL SITUATION FD LTD 31 Jul 03 $22M 418.65 31 Mar (1.96%) 4.21% -32.86% -27.94% -17.75% 1.56% 34.59% (89.56%) Philip Richards May 13 14 Jul 07 - Dec 13 Yid Avg. 2014 Equity-Mid-Small Cap/UK 5.71% ALPHAGEN VOLANTIS FUND, LTD - A (USD) 30 Apr 02 $582M 525.66 02 May (0.05%) 5.71% 13.46% 12.7% 1.02% 14.81% 8.31% (11.36%) Rob Giles & Adam McConkey Apr 14 14 Jun 08 - Dec 08 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 28 Source - HSBC EFTA00602727

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Equity Long/Short Inception Liquidity Asset LastNAVor Date MTD YTD 2013 2012 2011 Ann. Return = Ann. Vol Max 1 Dates Size Index Drawdown Yid Avg. 2014 Equity-Mid-Small Cap/USA 5.08% COOPER CREEK PARTNERS LLC 31 Oct 08 Q $100M 180.04 30 Apr 0.79% 6.80% 27.15% 9.93% 13.51% 11.29% 10.42% (22.12%) Robert Schwartz Mar 14 14 Feb 11-Sep 11 GREENLIGHT CAPITAL OFFSHORE, LTD - A/1 30 Sep 96 Q $8'203M 163,287.95 30 Apr 4.50% 2.72% 18.76% 7.66% 1.86% 17.21% 10.80% (27.17%) David Einhorn Jan 13 14 May 08 - Oct 08 GRT TOPAZ OFFSHORE PARTNERS, LTD - A/1 31 Aug 01 Q $29M 2,584.08 30 Apr 1.60% 2.84% 12.25% 13.2% 1.64% 7.78% 12.86% (47.07%) Gregory B Fraser & Rudolph K Kluiber & Timothy A. Dec 12 14 May 07 - Feb 09 Krochuk HARBOUR HOLDINGS LTD 31 Dec 85 M $266M 178.46 31Mar 1.77% 3.50% 26.65% 14.64% 1.07% 18.61% 23.21% (49.05%) Charles A. Paquelet Mar 14 14 May 07 - Feb 09 HARVEY SMIDCAP OFFSHORE FUND LTD 31 Jan 06 Q $74M 2,388.92 31Mar 1.69% 5.47% 15.93% 9.43% 4.99% 11.25% 7.66% (9.17%) Jeff Moskowitz and Jim Schwartz Mar 14 14 Apr 11 - Dec 11 SENVEST PARTNERS, LTD - CLASS A 31 Mar 97 Q $383M 2,527.04 30 Apr (2.20%) 9.14% 79.51% 34.81% -33.96% 20.80% 37.61% (70.55%) Richard Mashaal Feb 14 14 Feb 00 - Sep 02 Equity-Pharma-Biotech Yid Avg. 2014 4.36% ; Yid Avg. 2014 Equity-Pharma-Biotech/USA 4.36% PERCEPTIVE LIFE SCIENCES OFFSH FUND, LTD 31 Dec 99 M $915M 2,169.59 30 Apr (6.70%) 3.16% 43.88% 28.09% 5.82% 23.94% 25.75% (25.67%) Joseph Edelman Feb 14 14 Feb 00 - May 00 TRAXIS SIVIK GLOBAL HEALTHCARE OFFSHORE - 30 Jun 01 M $40M 2,124.51 31Mar (1.64%) 3.96% 20.95% 13.88% 8.27% 6.08% 11.15% (32.70%) AJ01-01 Oct 13 14 Oct 07 - Feb 09 Krishen Sud VISIUM BALANCED OFFSHORE FUND CL 2 31 Oct 05 YQ = $3'122M 262.14 02 May 0.45% 5.96% 18.52% 10.31% 1.89% 12.00% 8.99% (15.79%) Jacob Gottlieb Feb 14 14 Aug 08 - Dec 08 Equity-Real Estate Yid Avg. 2014 6.74% , Yid Avg. 2014 Equity-Real Estate/Global 6.74% BROOKFIELD GLOBAL REITS LONG SHORT 30 Nov 04 M $352M 499.00 31 Mar 1.80% 6.74% 16.2% 40% 18.96% 18.79% 27.11% (54.37%) STRATEGY dan 14 14 May 07 - Feb 09 Jason Baine and Bernhard Krieg Equity-Technology Ytd Avg. 2014 5.99% 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 29 Source - HSBC EFTA00602728

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Equity Long/Short Inception Liquidity Asset LastNAVor Date MTD YTD 2013 ©2012 2011 Ann. Return Ann. Vol Max 1 Dates Size Index Drawdown ; Ytd Avg. 2014 Equity-Technology/Global 2.95% EXANE ARCHIMEDES FUND CLASS A CAP 30 Sep 06 €344M 16,185.25 O06 May 0.64% 2.95% 3.84% 0.19% 3.99% 6.54% 4.68% (5.10%) Gilles Lenoir and César Zeitouni Mar 14 14 Nov 11 - May 12 , Yid Avg. 2014 Equity-Technology/USA 9.04% SELIGMAN TECH SPECTRUM FUND CLASS 31 Dec 06 $120M 366.72 31Mar 4.02% 9.04% 11.22% 0.65% 0.21% 8.71% 12.01% (19.91%) -A1-S/2-2002 Mar 14 14 May 08 - Nov 08 J. & W. Seligman & Co. Incorporated Equity-Utility Ytd Avg. 2014 4.08% : Yid Avg. 2014 Equity-Utility/Europe 4.08% CYGNUS UTILITIES, INFRASTRUCTURE & 30 Apr 06 $121M 1,866.62 31Mar 0.00% 4.08% 2.98% 10.88% 2.7% 8.20% 7.77% (10.69%) RENEWABLES Feb 14 14 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 | 30 Source - HSBC EFTA00602729

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Event Driven Asset LastNAVor Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Inception Liquidity 1 Dates Size Index Drawdown Equity-Diversified Yid Avg. 2014 (6.29%) ae Yid Avg. 2014 Equity-Diversified/USA (6.29%) MARCATO INTERNATIONAL LTD 30 Sep 10 $2'074M 155.57 30 Apr (4.60%) (6.29%) 26.16% 28.67% 4.16% 13.12% 12.37% (17.63%) Richard McGuire, Marcato Capital Management LLC Mar 14 14 Mar 11 - Sep 11 Multi-Strategy Ytd Avg. 2014 3.30% . . Yid Avg. 2014 Multi-Strategy/Asia (4.44%) YORK ASIAN OPPORTUNITIES UNITS TRUST -A- 31 Mar 06 $590M 1,270.94 31 Mar (2.10%) (4.44%) 14% 10.8% 6.59% 9.52% 14.21% (34.54%) Feng Hsiung / Masahiko Yamaguchi Mar 14 14 Oct 07 - Dec 08 : : Yid Avg. 2014 Multi-Strategy/Emerging (1.66%) MONEDA ABSOLUTE RETURN LTD SUB CLASS 31 Jan 07 $80M 1,263.84 30 Apr 1.30% (1.66%) -0.55% 5.49% 16.4% 3.28% 12.35% (29.89%) WSIES1 Dec 13 14 dun 08 - Dec 08 Juan Luis Rivera . Yid Avg. 2014 Multi-Strategy/Europe (3.15%) MLIS - OZ EUROPE UCITS FUND CLASS B EUR 31 Mar 11 $534M 111.66 06 May (0.34%) (3.34%) 14.37% 10.74% 8.79% 3.62% 6.41% (10.96%) David Windreich, Och-Ziff Capital Management Group Feb 14 14 Apr 11 - Nov 11 PORTLAND HILL OVERSEAS FUND LTD 31 May 12 $190M 122.36 02 May 0.53% (2.96%) 17.16% 7.62% 11.08% 7.02% (4.41%) Thierry Lucas Mar 14 14 Feb 14- Apr 14 . Yid Avg. 2014 Multi-Strategy/Global 4.72% AG SUPER FUND INTERNATIONAL, LTD 30 Apr 93 $640M 1,767.06 30 Apr 0.80% 4.05% 16.86% 13.67% 2.62% 10.20% 5.42% (24.78%) Michael Gordon & Dave Kamin Sep 13 14 Jun 07 - Dec 08 DAVIDSON KEMPNER INTL, LTD - CLASS C Tranche 1 31 Oct 95 $6'454M 480.87 30 Apr 0.86% 3.73% 9.8% B.13% 1.38% 8.85% 3.73% (10.87%) Thomas L. Kempner, Jr. Dec 13 14 Oct 07 - Nov 08 DROMEUS GLOBAL OPPORTUNITIES FUND 30 Jun 08 $75M 226.56 02May 0.54% 3.80% 11.65% 20.78% 1.62% 15.03% 9.60% (9.37%) Dromeus Capital Management Ltd Mar 14 14 Apr 11 -May 12 KG INVESTMENT FUND LLC 31 Dec 08 $102M 258.28 30 Apr (1.13%) (0.19%) 26.85% 21.93% 12.4% 19.48% 14.34% (20.31%) KG Funds Management LLC Mar 14 14 Dec 08 - Feb 09 KL Special Opportunities FUND Lid CLASS A USD 31 Jan 11 $106M 130.82 31Mar (0.72%) 1.90% 9.44% 11.94% 4.8% 8.86% 5.95% (8.21%) Jamie Sherman & Jan Lernout Feb 14 14 Mar 12 - Jun 12 MLIS - YORK EVEN DRIVEN UCITS E CAP EUR 31 Dec 10 €424M 132.35 O06 May 0.82% 3.83% 25.92% 5.44% 5.32% 8.28% 9.52% (15.14%) York Ucits Holdings ,lic Jan 14 14 Apr 11-Sep 11 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group {| 31 Source - HSBC EFTA00602730

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Event Driven Inception Liquidity Asset LastNAVor Date MTD YTD 2013 = 2012 2011 Ann. Return Ann. Vol Max 1 Dates Size Index Drawdown ; Yid Avg. 2014 Multi-Strategy/Global 4.72% OWL CREEK OVERSEAS FUND, LTD 31 Jan 02 Y $2'068M = 4,862.87 30 Apr (1.90%) (3.48%) 48.63% 11.07% -15.44% 13.78% 13.04% (20.92%) Jeffrey Altman Dec 13 14 Mar 10 - Sep 11 PAULSON ADVANTAGE LTD -A- 31 Mar 04 Q $931M 277.56 30 Apr (2.45%) 0.06% 26.05% -14.23% -35.96% 10.65% 15.13% (47.71%) John Paulson Feb 14 14 Feb 11 - Nov 12 PAULSON ADVANTAGE PLUS LTD 31 Dec 04 Q $2'166M 287.56 30 Apr (2.55%) 2.26% 27.22% -21.5% -52.64% 11.98% 22.69% (65.24%) John Paulson Feb 14 14 Feb 11 - Feb 13 PAULSON RECOVERY FUND LTD 31 Oct 08 Y $1'503M 192.17 30 Apr (3.98%) 0.09% 63.18% 5.25% 27.92% 12.61% 19.82% (35.13%) John Paulson Feb 13 14 Apr 11-Sep 11 PERRY PARTNERS INTERNATIONAL INC CLASS -1- 30Sep93 Q/2Y $6'684M 1,030.00 02May 0.05% 1.14% 20.25% 15.61% -7.14% 11.99% 7.21% (25.65%) TNA Mar 14 14 Oct 07 - Nov 08 Richard Perry PERSHING SQUARE INTL.LTD 31 Dec 04 YQ $5'618M 4435.71 30 Apr 7.30% 19.21% 9.3% 12.39% 2.03% 17.30% 14.08% (20.35%) William Ackman Apr 14 14 Jan 08 - Feb 09 SOLUS SOLALTD CL. |! 31 Dec 01 Q $1'920M — 1,233.15, 02May 0.20% 10.08% 31.67% 9.11% 1.73% 22.57% 14.26% (21.93%) Chris Pucillo, Scott Martin, CJ Lanktree Mar 14 14 Feb 08 - Apr 09 SOMERSET SPECIAL OPPORTUNITIES FUND LP 31 Jul 07 Q $293M 193.45 31Mar 0.38% 2.00% 12.75% 11.33% 1.25% 10.40% 10.96% (25.61%) Robert Feingold Mar 14 14 Aug 08 - Mar 09 TRIAN PARTNERS LTD 31 Dec 05 Q $2'235M 197.65 02 May 0.43% 0.91% 40.06% 0.9% 3.98% 8.51% 13.35% (30.56%) Nelson Peltz, Peter May & Ed Garden Feb 14 14 May 07 - Feb 09 TYRUS CAPITAL EVENT FUND LTD 31 Oct 09 Q $1'200M 164.58 02May 0.37% 14.40% 15.75% 6.77% 0.22% 11.70% 6.44% (7.95%) Tony Chedraoui Mar 14 14 Feb 11-Sep 11 TYRUS CAPITAL OPPORTUNITIES FUND LTD 31 Mar 11 Q $828M 134.95 30 Apr 2.99% 14.61% 14.72% 7.59% 4.6% 10.20% 6.71% (6.43%) Tony Chedraoui Mar 14 14 Mar 11 - Sep 11 YORK INVESTMENT LTD -CLASS A-U/1 28 Feb 94 Q $3'400M 9,351.68 O4Apr 0.25% 6.49% 18.77% 13.73% 7.34% 11.76% 8.88% (29.86%) James Dinan Feb 14 14 Oct 07 - Feb 09 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 32 Source - HSBC EFTA00602731

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Fixed Income Arbitrage Asset LastNAVor Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Inception Liquidity 1 Dates Size Index Drawdown Fixed Income Ytd Avg. 2014 1.61% - Ytd Avg. 2014 Fixed Income/Global 1.61% AXONIC SYSTEMATIC ARBITRAGE OVERSEAS FUND 31 Mar 12 M $69M 121.53 SO Apr 3.23% 3.53% 22.85% -4.45% 9.82% 9.42% (10.06%) LTD Mar 14 14 dun 12 - Sep 12 Clayton DeGiacinto BLACKROCK FIXED INCOME GLOBAL ALPHA FUND 30 Sep 06 uM $5'300M 209.93 O05 May 0.08% 1.83% 6.04% 14.73% 19.93% 10.25% 5.32% (10.54%) Tim Webb Feb 14 14 Jun 08 - Dec 08 BLACKROCK OBSIDIAN FUND 30 Jun 96 M $1'200M 6,982.08 02May 0.00% 5.60% 10.83% 34.27% 13.5% 11.50% 9.22% (20.93%) Stuart Spodek Mar 14 14 Jan 08 - Feb 09 CAPULA GLOBAL RELATIVE VALUE FUND LTD CLASS 30 Sep 05 Q $6'202M 228.22 O5May 0.07% 2.36% 7.56% 0.43% 6.21% 10.07% 4.66% (7.41%) “A Apr 14 14 Feb 08 - Mar 08 Yan Huo, Masao Asai EMF FIXED INCOME FUND, LTD 31 Oct 01 M $168M 35,259.07 31 Mar (0.37%) (4.70%) -4.08% -1.12% 5.89% 10.68% 14.49% (22.46%) Eric M. Fianagan/David C. Gottlieb Jan 14 14 Feb 08 - Mar 08 Ill FUND LTD 30 Jun 93 uM $114M 4,000.63 30 Apr (0.08%) 2.29% 13.44% 11.83% 9.03% 6.88% 11.05% (54.77%) Cliff G Viner Mar 14 14 Jan 08 - Nov 08 Ill RELATIVE VALUE CREDIT STRATEGIES FUND LTD 31 Oct 05 M $134M 1,825.05 30 Apr 0.30% 2.49% 8.5% 10.22% 10.36% 7.33% 8.17% (31.27%) Lester Coyle Mar 14 14 Nov 07 - Dec 08 KAMUNTING STREET OFFSHORE FUND LTD 30 Apr 04 Q $704M 263.01 30 Apr 4.60% 8.93% 6.97% 17.5% 6.2% 10.15% 12.55% (38.39%) Allan Teh Mar 14 14 Oct 07 - Nov 08 KLS DIVERSIFIED FUND LTD 31 Jul 08 Q $931M 161.29 30 Apr 0.95% 4.75% 1.58% 7.35% 4.85% 8.67% 3.31% (4.10%) Jeff Kronthal ; Harry Lengsfield ; John Steinhardt Jan 14 14 Apr 13 - Jul 13 LONDON DIVERSIFIED FUND, LTD - E 30 Jun 05 Q $126M 1,096.73 02 May (0.28%) (1.21%) 0.45% 4.86% 3.75% 1.05% 6.77% (29.25%) Robert Standing Mar 14 14 Jan 08 - Dec 08 PELAGUS CAPITAL FUND 31 Dec 07 M $793M 204.62 02 May 0.42% 0.15% 3.38% 4.47% 2.27% 11.96% 5.74% (4.14%) Bruno Usai Mar 14 14 Apr 11 - Aug 11 PIMCO ABSOLUTE RETURN STRATEGY IV 31 Mar 02 Q $2'998M 2,337.83 31Mar (0.32%) 0.90% 0.44% 12.01% 1.82% 7.33% 8.58% (25.88%) OFFSHORE FUND I! , CL. A‘t Mar 14 14 May 08 - Nov 08 William H. Gross, Qi Wang PINE RIVER LIQUID MORTGAGE FUND LTD 31 Aug 10 M $736M 149.91 30 Apr (1.55%) (0.48%) 0.82% 28.86% 7.19% 11.68% 6.80% (4.70%) Jiayi Chen, Steve Kuhn Apr 14 14 Feb 13- Jun 13 PROLOGUE FEEDER FUND, LTD. CLASS A 31 Jan 06 Q $2'112M 1,854.46 30 Apr (1.50%) (3.83%) 251% 6.02% 8.37% 7.77% 3.71% (5.51%) David Lofthouse, Graham Walsh Apr 14 14 May 13 - Apr 14 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 33 Source - HSBC EFTA00602732

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Fund of Funds Inception Liquidity Asset LastNAVor Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Dates Size Index Drawdown! Arbitrage Yid Avg. 2014 0.39% Yid Avg. 2014 Arbitrage/Global 0.39% HSBC MAA FUND USD 15 Jun 95 QiM = $104M 211.38 17 Apr (0.62%) 0.39% 4.95% 4.21% 3.61% 4.05% 4.72% (25.30%) HSBC Altemative Investments Limited Feb 14 14 Jul 07 - Dec 08 Event Driven Ytd Avg. 2014 2.10% oo Yid Avg. 2014 Event Driven/Global 2.10% GEMS PROGR. FUND SICAV RECOVERY PORTFOLIO 31 Dec 01 Q $266M 2,441.04 30 Apr 0.04% 1.11% 8.61% 5.91% 12.46% 7.50% 6.65% (23.23%) REGULAR USD Oct 12 14 dun 08 - Dec 08 David Goldfarb, Miguel Abadi, Cedric Carrol HSBC CREDIT MARKET OPPORTUNITIES FUND USD 31 May 09 Q $57M 119.37 17 Apr (0.21%) 1.94% 919% 8.74% 7.47% 5.86% 6.04% (9.16%) CLASS COMPOSITE Jan 14 14 Feb 11- Dec 11 Hsbe Management (Guernsey) Ltd HSBC SPECIAL OPPORTUNITIES FUND LTD 28 Feb 07 Q $75M 133.31 31Mar 0.51% 3.24% 13.97% 20.63% 3.5% 414% 10.06% (35.45%) HSBC Alternative Investments Limited Jan 14 14 Jun 08 - Mar 09 Long/Short Ytd Avg. 2014 (4.32%) , - Yid Avg. 2014 Long/Short/Asia (4.32%) HSBC ASIAN ADVANTEDGE FUND 30 Jun 02 M $16M 174.59 17 Apr (0.50%) (4.32%) 7.86% 2.01% “11.59% 4.83% 7.98% (24.73%) HSBC Altemative Investments Limited Mar 14 14 Dec 07 - Nov 08 Macro Ytd Avg. 2014 (4.80%) Yid Avg. 2014 Macro/Global (4.80%) MASTERS FUND LTD MAGNOLIA SERIES 31 Dec 96 Q $237M 4,909.12 25 Apr (1.15%) (4.80%) 11.11% 1.49% 0.36% 9.62% 8.65% (9.96%) Sean M. Doyle Jan 14 14 Jul 98 - Oct 98 Multi-Strategy Ytd Avg. 2014 (1.53%) 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 34 Source - HSBC EFTA00602733

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Fund of Funds Inception Liquidity Asset LastNAVor Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max 1 Dates Size Index Drawdown ; Ytd Avg. 2014 Multi-Strategy/Global (1.53%) DIAMOND CAPITAL MANAGEMENT 31 Oct 02 Q $197M 178.49 31 Mar (1.52%) (0.12%) 10.45% 2.61% “1.97% 5.20% 4.33% (14.18%) Elchanan Jaglom, Danie! Jaglom Mar 13 14 Jun 08 - Dec 08 GAM DIVERSITY I INC - US$ CLASS 31 Dec 89 uM $516M 737.08 30 Apr (1.85%) (2.39%) 10.49% 6.67% 3.44% 8.55% 7.93% (19.64%) David Smith Oct 13 14 Jan 94 - Jan 95 GAM DIVERSITY II INC - US$ CLASS 31 Jul 98 M $77M 224.34 30 Apr (1.86%) (2.43%) 10.34% 6.54% “3.66% 5.26% 7.32% (18.79%) David Smith Jan 14 14 Oct 07 - Dec 11 GAM TRADING II USD 30 Apr 97 M $1'536M 321.95 30 Apr (0.59%) (2.04%) -0.45% 2.83% 4.11% TAQ 5.78% (7.34%) David Smith, Arvin Soh Jan 14 14 Apr 13 - Oct 13 HSBC GH FUND USD 31 May 96 M $1'694M 316.90 17 Apr (1.12%) 0.07% 8.51% 5.4% 3.37% 6.66% 6.32% (18.30%) HSBC Altemative Investments Limited Jan 14 14 dun 08 - Dec 08 HSBC HEDGE INVESTMENTS FUND 28 Feb 02 Q $3M 165.70 17 Apr (1.07%) 0.10% B.22% 5.97% 2.72% 4.25% 4.86% (17.63%) HSBC Altemative Investments Limited Feb 14 14 Jun 08 - Dec 08 HSBC LEVERAGED GH FUND 30 Nov 04 M $1'694M 146.65 17 Apr (2.34%) (0.48%) 15.12% 8.72% 8.76% 416% 11.55% (37.09%) HSBC Republic Investment Limited Jan 14 14 Jun 08 - Dec 08 HSBC NEXT GENERATION FUND NNI MANDATE Share 30 Sep 11 uM $43M 104.24 17 Apr (2.72%) (3.22%) 7.28% 1.98% 1.55% 1.64% 4.66% (4.59%) Class Jan 14 14 Feb 14- Apr 14 HSBC Management (Guernsey) Ltd HSBC UCITS ADVANTEDGE FUND -USD CLASS 31 Oct 09 w €117M 96.97 30 Apr (3.07%) (3.23%) 7.25% 1.38% 7.51% (0.67%) 3.93% (8.81%) Hsbe Alternative Inv. Ltd Mar 14 14 Apr 10 - Dec 11 Trading Ytd Avg. 2014 (0.81%) . Yid Avg. 2014 Trading/Global (0.81%) HSBC TRADING ADVANTEDGE FUND 31 Oct 05 M $113M 128.60 17 Apr 0.41% (0.81%) -8.75% -5.39% 1.62% 3.02% 9.70% (20.93%) HSBC Altemative Investments Limited Apr 14 14 Apr 11 - Sep 13 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 35 Source - HSBC EFTA00602734

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Long Only Inception Liquidity Asset LastNAVor Date MTD YTD 2013 2012 2011 Ann. Return = Ann. Vol Max 1 Dates Size Index Drawdown Equity-Diversified Yid Avg. 2014 (16.15%) Co Ytd Avg. 2014 Equity-Diversified/Emerging (16.15%) RUSSIAN PROSPERITY FUND - A 31 Aug 96 w $1'194M 198.82 24 Apr (2.89%) (16.15%) 3.11% 20.19% -18.03% 18.65% 44.40% (90.26%) Alexander Branis Apr 14 14 Jul 97 - Jan 99 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 36 Source - HSBC EFTA00602735

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Macro Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Inception Liquidity 1 Dates Size Index Drawdown Commodity Yid Avg. 2014 2.97% a Ytd Avg. 2014 Commodity/Global 2.97% ANDURAND COMMODITIES FUND 31 Jan 13 $280M 1,002.92 31 Mar (0.08%) 0.92% 25.02% 22.15% 17.07% (11.86%) Pierre Andurand Mar 14 14 Jul 13 - Dec 13 ARMAJARO COMMODITIES FUND CLASS -A- 31 Mar 04 $686M 231.59 02May 0.37% (0.12%) 1.04% 1.65% 7.11% 8.68% 11.03% (15.56%) John Tilney Mar 14 14 Feb 08 - Dec 08 BREVAN HOWARD COMMODITIES STRATEGIES 28 Feb 10 $819M 106.09 30 Apr 0.32% 3.27% 4.22% 5.8% 2.65% 2.28% 9.04% (12.22%) FUND L-P. Feb 14 14 Sep 12 - Nov 13 Stephane Nicolas DB PLATINUM V HERMES A.R. COMMODITY FUND 28 Feb 10 $84M 107.54 06 May (0.29%) (1.02%) -5.82% -0.65% 9.69% 1.75% 6.09% (14.03%) Colin O'Shea Jan 14 14 Mar 12 - Nov 13 KROM RIVER COMMODITY FUND 30 Jun 06 $227M 159.96 02 May 0.15% 0.49% BAT% 4.92% 3.89% 6.17% 9.14% (18.68%) Christopher Brodie Mar 14 14 Apr 11 - Jan 14 MERCHANT COMMODITY FUND (THE) - COMPOSITE 31 May 04 $134M 407.77 02May (0.90%) 14.31% 15.77% -7.6% -30.07% 15.21% 20.78% (36.93%) Michael Coleman and Doug King Mar 14 14 Dec 10 - Oct 11 Commodity-Systematic Yid Avg. 2014 6.15% . ; Yid Avg. 2014 Commodity-Systematic/Global 6.15% ARMAJARO STS COMMODITIES FUND CLASS -Z- 31 Dec 09 $24M 80.61 30 Apr 5.38% 6.15% “7.8% -18.15% -15.89% (4.85%) 22.46% (48.58%) Will Griffin Jan 14 14 Apr 11 - Oct 13 Currency Ytd Avg. 2014 (1.55%) . Ytd Avg. 2014 Currency/Asia (2.16%) DYMON ASIA MACRO FUND (SERIES A) 31 Jul 08 $2'969M 151.59 02 May (0.36%) (2.65%) 5.19% 0.96% 20.11% 7AB% 10.94% (13.69%) Danny Yong Feb 14 14 Jul 08 - Sep 08 THE CAMBRIDGE STRATEGY - ASIAN MARKETS 31 Jan 06 $75M 157.39 30 Apr (1.58%) (1.68%) 1.06% 0.86% 6.36% 5.65% 8.04% (6.97%) CURRENCY ALPHA Mar 14 14 May 13 - Apr 14 Alexandra Edstein Yid Avg. 2014 Currency/Global (1.159%) HARNESS MACRO CURRENCY FUND 31 Mar 09 $94M 142.80 30 Apr (0.81%) (0.05%) 3.51% 17.65% 4.62% 7.26% 11.19% (13.52%) Harness Investment Group Lid Apr 14 14 Apr 10 - Aug 10 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 37 Source - HSBC EFTA00602736

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Macro Asset LastNAVor Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Inception Liquidity 1 Dates Size Index Drawdown Yid Avg. 2014 Currency/Global (1.15%) THE CAMBRIDGE STRATEGY - EMERGING MARKETS = 31 Jan 08 $561M 151.72 30 Apr 0.48% (0.54%) 0.3% 742% 10.46% 6.90% 7.97% (10.76%) CURRENCY ALPHA Jan 14 14 May 13 - Sep 13 Jesse Marre, Andrew Bresler THE CAMBRIDGE STRATEGY - EXTENDED MARKETS = 31 Mar 04 $4M 115.67 30 Apr (0.04%) (2.85%) -9.96% -147% 0.92% 1.45% 6.85% (30.46%) CURRENCY ALPHA Mar 14 14 Feb 09 - Apr 14 Robert Colehan Diversified Ytd Avg. 2014 (2.96%) ; Yid Avg. 2014 Diversified/Asia (5.52%) ALPHADYNE INVESTMENT STRATEGIES FUND LTD 31 Jan 07 $369M 1,775.81 02 May (0.13%) (4.13%) 12.15% 7.06% 3.11% 8.24% 5.01% (4.80%) Bart Broadman, Philippe Khuong-Huu Feb 14 14 Jan 14 - May 14 BREVAN HOWARD ASIA FUND LIMITED 30 Sep 04 $2'656M 230.20 30 Apr (0.66%) (1.04%) 11.55% 4.41% 8.86% 9.09% 3.83% (1.949%) Kaspar Ernst Mar 14 14 Jan 10 - Mar 10 FORTRESS ASIA MACRO FUND 28 Feb 11 $2'605M 139.11 02 May 0.27% (5.11%) 17.06% 21.23% 3.3% 10.95% 6.48% (5.36%) Adam Levinson Mar 14 14 Dec 13 - Apr 14 SINFONIETTA FUND 31 May 08 $81M 165.39 30 Apr (2.24%) (11.79%) 34.47% 7.07% 22.92% 8.87% 15.46% (14.44%) Symphony Financial Partners Apr 14 14 Jun 08 - Mar 09 ; ; Yid Avg. 2014 Diversified/Emerging 0.83% ALPHA4X CAPITAL GROWTH FUND 30 Apr 06 $109M 148.80 30 Apr (2.10%) (3.46%) -7.339% 2.54% 11.5% 5.09% 6.76% (12.78%) Manuel E. Mejia-Aoun, Urvish Bidkar, Fabio Izzo Apr 14 14 Jun 13 - Ape 14 BLUECREST EMERGING MARKETS FUNDS 31 Aug 05 $1'610M 200.81 30 Apr 0.83% 1.60% 4.65% 10.9% 0.43% 8.39% 10.60% (22.89%) Bluecrest Capital Management LLP Feb 14 14 Oct 07 - Oct 08 GAVEA FUND LTD . CLASS A S/1 31 Jul 03 $1'491M 227.17 O2May (0.13%) (3.37%) 2.71% 819% 0.95% 7.92% 6.60% — (12.50%) Fraga Arminio and Gabriel Srour Mar 14 14 Jul 08 - Oct 08 GREEN FUND LLC GREEN CLASS 31 Jan 01 $1'767M 694.04 30 Apr (1.57%) (4.50%) 9.9% 13.55% 5.7% 14.73% 14.05% (33.00%) Luis Stuhiberger Nov 13 14 Jun 08 - Nov 08 PHARO TRADING FUND 30 Nov 00 $345M 5,431.25 17 Apr 2.19% 14.48% 19.65% 0.69% 2.68% 13.47% 10.43% (13.16%) Guillaume Fonkenell Mar 14 14 Feb 08 - Oct 08 SPINNAKER GLOB OPP FUND, LTD COMPOSITE 31 Jan 01 $804M 510.31 15 Apr 0.10% 2.82% O.97% 14.12% -11.82% 13.13% 9.21% (31.74%) Jorge Rosas Feb 14 14 May 08 - Feb 09 THE CAMBRIDGE STRATEGY - APOLLO (EM MACRO) 30 Apr 09 $442M 139.91 SO Apr 0.18% (1.77%) -2.05% 12.92% 14.14% 6.94% 5.92% (10.90%) ABSOLUTE RETURN Mar 14 14 Mar 13 - Oct 13 Russell Thompson, Walid Khalfallah, Ali Bora Yigitbasioglu 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 38 Source - HSBC EFTA00602737

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Macro Diversified/Global BREVAN HOWARD FUND, LTD - USD CLASS A Alan Howard BTG PACTUAL GLOBAL EM. MKTS AND MACRO FD 8TG Pactual Global Asset Management CANOSA GLOBAL MACRO FUND LTD Tim Attias, Santiago Alarco CAPITAL FUND, LTD (THE) Kenneth Windheim CAXTON GLOBAL INVESTMENT LTD Andrew E. Law COMAC GLOBAL MACRO FUND Colm O'Shea COMMONWEALTH OPPORTUNITY CAYMAN FUND LTD Adam Fisher DISCOVERY GLOBAL MACRO FUND LTD CLASS -A- SERIES 1 Robert K Citrone DISCOVERY GLOBAL OPPORTUNITY FUND, LTD Robert K Citrone ECLECTICA FUND (THE) CLASS A EURO Hugh Hendry ELEMENT CAPITAL FUND Jeffrey Talpins EPISODE INC. CLASS A David Fishwick / Tony Finding FORTRESS MACRO FUND LTD. CLASS A Michael E. Novogratz & Adam Levinson GAM GLOBAL RATES HEDGE FUND Adrian Owens GAMUT INVESTMENTS Adrian Owens GRAHAM ABSOLUTE RETURN TRADING LTD Graham Capital Management, L.P. GRAHAM GLOBAL INVESTMENT FUND I! - DISCRETIONARY ENHANCED VOL Kenneth G. Tropin 1. Max Drawdown: Peak to trough. Inception Liquidity Dates 31 Mar 03 M 31 Jan 09 uM 30 Apr 13 M 31 Dec 99 uM 31 Jan 97 Q 31 May 06 M 30 Nov 08 M 31 Aug 11 Q 31 Jul 99 HY 30 Sep 02 M 31 Mar 05 M 31 Jul 05 Q 31 Dec 08 M 31 Jan 04 uM 30 Jun 86 M 31 Dec 04 Q 31 May 04 Q Past performance is not a reliable indicator of future performance. Source - HSBC Asset Last NAV or Size $27'025M Mar 14 $5'533M Jan 14 $1'030M Mar 14 $59M Jan 14 $4'880M Nov 13 $1'066M Apr 14 $1'010M Mar 14 $3'576M apr 14 $8'640M Apr 14 €427M Mar 14 $4'441M Mar 14 $1'490M Oct 13 $1'712M Mar 14 $414M Mar 14 $97M Dec 13 $627M Apr 14 $3'327M Apr 14 Index 298.69 2,955.50 109.61 367.17 858.10 148.26 211.04 1,290.93 837.81 222.15 65,849.58 141.32 1,226.37 222.86 8,048.23 388.19 211.12 Date MTD YTD 30 Apr 14 30 Apr 14 31 Mar 14 02 May 14 05 May 14 02 May 14 02 May 14 02 May 14 30 Apr 14 02 May 14 31 Mar 14 30 Apr 14 02 May 14 22 Apr 14 30 Apr 14 06 May 14 06 May 14 Yid Avg. 2014 (1.18%) 0.75% (1.39%) 0.07% 0.19% 0.44% 0.13% 0.57% (5.43%) 0.50% (0.42%) 0.35% 0.14% 0.05% (0.51%) (0.12%) (0.30%) (3.43%) (4.04%) 5.34% 0.23% (0.71%) (4.94%) (2.88%) 2.59% (13.57%) (12.04%) (6.14%) 0.57% 2.87% (6.21%) 2.47% 2.57% (3.70%) (5.75%) 2013 2.68% 9.65% 9.34% 3.07% 18.19% 0.53% 5.39% 26.95% 27.5% 0.01% 19.44% 6.14% 13.97% 0.11% 2.83% 10.42% 7.22% 2012 2011 Ann. Return Ann. Vol Max Drawdown! 3.93% 12.15% 10.37% 6.82% (8.13%) Apr 13 - Apr 14 28.12% 3.44% 22.94% 7.19% (3.57%) May 11 - Dec 11 10.50% 7.54% (4.66%) Aug 13 - Oct 13 0.21% 4.65% 9.49% 10.30% (17.38%) Jan 09 - Mar 10 1.96% 0.7% 13.26% 7.42% (7.37%) Jun 07 - Aug 07 -B.95% 5% 5.09% 8.02% (14.56%) Apr 10 - Aug 13 15.64% 10.75% 14.77% 9.97% (10.38%) Jan 09 - Feb 09 18.87% 1.02% 10.03% 11.67% (15.76%) Feb 14- Apr 14 15.06% 3.58% 15.49% 14.73% (33.03%) Dec 07 - Dec 08 1.72% 12.11% TAS% 21.14% (31.94%) Feb 08 - Sep 08 2.73% 5.54% 23.28% 9.90% (7.83%) Oct 07 - Apr 08 4.69% 0.98% 4.03% 11.45% (32.77%) Oct 07 - Feb 09 17.82% -9.33% 7.23% 7.12% (11.34%) Mar 11 - Now 11 14.71% 6.73% 8.15% 7.25% (12.25%) Mar 11 - Sep 11 0.29% 0.95% 17.06% 13.17% (13.45%) Dec 87 - Apr 88 9.22% 4.5% 12.61% 9.78% (13.31%) May 07 - May 08 7.35% 6.82% 10.80% 10.33% (30.81%) May 07 - Jun 08 HSBC Alternative Investment Group | 39 EFTA00602738

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Macro Diversified/Global GRAHAM GLOBAL INVESTMENT FUND- DISCRETIONARY Kenneth G. Tropin HARMONIC ALPHA PLUS MACRO FUND - USD CLASS Richard Conyers MELLON OFF GLOB OPP FUND LTD - MULTICURRENCY - At Alexander Huberts & Jeff Zhang MELLON OFF. ALPHAACCESS FUND LTD - MCY A/t Alexander Huberts & Jeff Zhang MKP OPPORTUNITY OFFSHORE, LTD MKP Capital Management, L.L.C. MLM MACRO PEAK PARTNERS OFFSH FD, LTD - 8B Timothy Rudderow MOORE GLOBAL INV FD, LTD- A$ Louis Bacon MOORE MACRO MANAGERS FUND, LTD CLASS -A- Louis Bacon OMNI MACRO FUND | LIMITED Stephen Rosen, Nick Munns ONSLOW MACRO FUND CLASS A Nicolas Galperin, Esteban Klein PHARO MACRO FUND LTD Guillaume Fonkenell PINPOINT MULTI-STRATEGY FUND Qiang Wang RUBICON GLOBAL FUND, LTD Paul Brewer TREND MACRO OFFSHORE LTD Ashwin Vasan TT INTERNATIONAL FUND Tacchi Tim TUDOR B.V.| GLOBAL FUND LTD -A- Paul Tudor Jones TUDOR B.V.| GLOBAL FUND LTD -A- ALT SERIES 01 Paul Tudor Jones 1. Max Drawdown: Peak to trough. Inception Liquidity Dates 31 May 04 30 Apr 03 30 Nov 05 31 Jul 05 31 Jul Ot 31 Mar 02 31 Dec 89 31 Jul 93 30 Apr 07 31 Dec 07 30 Apr 05 29 Feb 08 31 Oct 99 31 Jul 11 31 Aug 89 31 Oct 86 31 Dec 11 Past performance is not a reliable indicator of future performance. Source - HSBC Asset Last NAV or Size $3'327M Apr 14 $76M Mar 14 $171M Oct 13 $71M Oct 13 $3'337M Mar 14 $573M Sep 13 $3'332M Mar 14 $3'602M Feb 14 $298M Mar 14 $116M Apr 14 $3'251M Mar 14 $134M Sep 13 $890M Mar 14 $391M Mar 14 $275M Mar 14 $7'163M Mar 14 $5'620M May 13 Index 257.52 125.79 1,031.82 885.68 293.28 2,226.69 53,083.64 13,816.79 252.58 149.07 3,042.35 151.88 442.75 130.43 7,401.79 121,044.60 122,870.99 Date MTD YTD 06 May 14 02 May 14 31 Mar 14 31 Mar 14 30 Apr 14 02 May 14 30 Apr 14 30 Apr 14 02 May 14 31 Mar 14 17 Apr 14 30 Apr 14 02 May 14 02 May 14 30 Apr 14 02 May 14 02 May 14 Yid Avg. 2014 (0.16%) 0.76% (7.02%) (18.18%) (0.68%) 0.37% (2.69%) (0.48%) 0.12% 0.94% 1.19% (3.34%) (0.20%) (0.05%) (2.90%) 0.04% 0.05% (3.43%) (2.92%) (1.71%) (10.61%) (21.07%) (5.15%) (6.44%) (5.11%) 0.59% 2.90% 0.07% 6.72% (2.63%) (15.08%) 1.57% (3.06%) (4.31%) (3.91%) 2013 3.63% B.34% 1.21% 5.4% 7.09% 23.84% 17.02% 13.49% 487% 7.16% 18.51% 4.65% 18.25% 14.81% 7.36% 13.98% 14.29% 2012 2011 Ann. Return Ann. Vol Max Drawdown! 3.83% 3.56% 6.16% 5.11% (14.81%) May 07 - Jun 08 23.45% 8.95% 5.42% 12.00% (18.17%) Aug 12- Feb 14 2.53% 4.79% 0.38% 9.05% (31.90%) Jan 07 - Oct 08 4.79% 446% (1.39%) 17.87% (59.00%) Jan 07 - Oct 08 6.9% 11.42% 8.80% 5.40% (5.15%) Dec 13 - Apr 14 0.76% — -35.04% 6.84% 17.85% (36.99%) Dec 10 - May 12 8.82% 2.21% 17.72% 11.72% (18.45%) Jan 94 - Feb 95 9.01% 2.57% 13.48% 8.33% (14.47%) Jan 94 - Feb 94 0.74% 10.45% 14.13% 12.87% (14.14%) Aug 10 - Apr 11 6.72% 3.17% 6.55% 14.86% (25.48%) Sep 08 - Oct 08 12.53% -7.82% 13.21% 8.70% (9.64%) Jun 08 - Nov 08 6.19% — -10.43% 7.01% 10.75% (17.36%) Jun 08 - Nov 08 3.89% 5.34% 10.80% 14.65% (36.03%) Dec 04 - May 07 16.56% 4.04% 10.12% 5.97% (6.45%) Aug 11- Jun 12 4.27% 14.09% 8.38% 14.27% (27.05%) Jan 94 - Jan 95 5.41% 217% 19.04% 18.66% (17.07%) Apr 92 - Jul 92 6.27% - 6.83% 7.19% (4.37%) May 12 - Jun 12 HSBC Alternative Investment Group | 40 EFTA00602739

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Macro Inception Liquidity Asset LastNAVor Date MTD YTD 2013 2012 2011 Ann. Return = Ann. Vol Max 1 Dates Size Index Drawdown Ytd Avg. 2014 Diversified/Global (3.43%) TUDOR DISCRETIONARY MACRO FUND CLASS | 30 Jun 12 $1'696M 1,087.41 02 May 0.09% (6.58%) 13.2% 2.82% 4.66% 7.82% (8.91%) Series 01 Mar 14 14 Jun 13 - Ape 14 Multi-PM Platform Fixed Income Ytd Avg. 2014 (0.31%) . Yid Avg. 2014 Fixed Income/Global (0.31%) BREVAN HOWARD INVEST. FUND - EMERGING 31 May 10 $402M 111.35 30 Apr (0.28%) (0.31%) -3.84% 7.21% 2.97% 2.78% 4.72% (5.89%) MARKETS LOCAL FIXED INCOME FUND Mar 14 14 Feb 13 - Feb 14 Filippo Cipriani, Brevan Howard Asset Management Systematic Ytd Avg. 2014 (10.28%) ; Yid Avg. 2014 Systematic/Global (10.28%) EAGLE QUANTITATIVE MACRO FUND LTD 30 Sep 06 $417M 153.86 30 Apr (1.50%) (10.28%) -10.29% 8.57% 4.2% 5.84% 14.09% (22.44%) Eagle Trading Systems Inc. (Menachem Sternberg) Apr 14 14 May 12- Apr 14 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 41 Source - HSBC EFTA00602740

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Managed Futures Inception Liquidity Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Dates Size Index Drawdown! Commodity Ytd Avg. 2014 15.66% a Ytd Avg. 2014 Commodity/Global 15.66% CUMULUS ENERGY FUND CLASS A USD 30 Sep 06 M $497M 660.14 02 May (0.20%) 15.66% 13.96% 24.55% 99.63% 28.22% 35.39% (41.27%) Peter Brewer Mar 14 14 Sep 07 - Apr 08 Currency Ytd Avg. 2014 3.51% Yid Avg. 2014 Currency/Global 3.51% ORTUS FUND (CAYMAN) LTD 30 Sep 03 M $105M 201.83 SO Apr 1.34% 3.51% -17.92% -17.33% 5.7% 6.86% 12.08% (32.73%) Dr Joe Zhou Apr 14 14 Jan 12 - Jan 14 Fixed Income Ytd Avg. 2014 (2.62%) . Yid Avg. 2014 Fixed Income/Global (2.62%) DB SELECT EUROFIN ACCURATE FX INCOME INDEX 31 Dec 07 D €43M 97.50 06 May 0.35% (2.62%) 2.39% 1.85% 8.88% 4.40% 6.61% (5.68%) Joao Poppe, Narciso Vega Apr 14 14 Aug 10- Mar 11 Systematic Yid Avg. 2014 (2.81%) Yid Avg. 2014 Systematic/Global (2.81%) AHL (cayman) SPC EVOLUTION USD 31 Aug 05 M $1'518M 1.23 25 Apr 1.13% 3.08% 16.91% 23.53% 10.53% 15.27% 12.64% (13.16%) Tim Wong , Matthew Sargaison Jul 13 14 Jun 08 - Oct 08 AHL ALPHA 30 Sep 95 M $198M 8.55 25 Apr 0.01% (1.10%) -1.52% -0.06% 2.75% 12.24% 12.51% (12.28%) Tim Wong, Matthew Sargaisan Feb 14 14 Oct 01 - Feb 02 AHL DIVERSIFIED 29 Feb 96 w $527M 86.33 25 Apr (0.15%) (2.51%) -3.06% -2.22% -5.9% 12.60% 16.75% (19.53%) Tim Wong, Matthew Sargaison Jul 13 14 Oct 01 - Apr 02 ASPECT DIVERSIFIED FUND - CLASS A 30 Nov 98 Ww $961M 290.87 O7 May (0.13%) (4.25%) -4.44% -10.66% 4.51% TAB% 15.92% (22.19%) Anthony Todd Apr 14 14 Feb 12- Mar 14 BLUETREND FUND, LTD - CLASS A 31 Mar 04 M $9'400M 264.84 30 Apr 0.96% (2.80%) -11.5% 0.02% 0.32% 10.14% 14.07% (22.05%) Michael Platt & Leda Braga Feb 14 14 Apr 11 - Jan 14 BORONIA DIVERSIFIED FUND MASTER 31 Aug 93 M $43M 1,795.34 06 May (1.32%) (2.62%) 13.23% -3.99% 8.75% 9.15% 11.57% (14.56%) Richard Grinham and Angus Grinham Apr 14 14 Feb 08 - Apr 12 CAMPBELL GLOBAL ASSETS FUND LTD Class A 31 Jan 98 M $109M 3,514.30 02 May (0.17%) (9.99%) 12.57% 4.52% 2.92% 8.04% 13.22% (21.17%) Campbell & Company Mar 14 14 Jun 07 - Jan 10 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 42 Source - HSBC EFTA00602741

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Managed Futures Inception Liquidity Asset LastNAVor Date MTD YTD 2013 2012 2011 = Ann. Return Ann. Vol Max 1 Dates Size Index Drawdown Yid Avg. 2014 Systematic/Global (2.81%) CAMPBELL GLOBAL ASSETS FUND LTD Class B 30 Jun 02 M $109M 2,930.98 02 May 0.12% (9.98%) 11.34% 1.84% 1.83% 5.60% 11.58% (22.92%) Campbell & Company Mar 14 14 Jun 07 - Aug 07 CANTAB CAPITAL PARTNERS QUANTITATIVE FUND = 28 Feb 07 uM $539M 1,351.21 02 May (0.65%) (7.68%) -27.65% 15.32% 12.84% 4.50% 15.62% (35.29%) (THE) - USD ARISTARCHUS Apr 14 14 Apr 13 - May 14 Ewan Kirk, Erich Schlaikjer, Cantab Capital CONQUEST MACRO FUND, LTD (COMP) 30 Apr 99 M $157M 1,940.37 O07 May (3.50%) (0.82%) -7.66% -33.16% -5.67% 4.51% 19.61% (56.21%) Mare Malek Aug 13 14 Jul 09 - Mar 13 CRABEL FUND SPC LTD CLASS A 28 Feb 98 uM $365M 5,397.96 02 May (0.69%) 0.33% 2.2% 15.53% 1.93% 10.98% 16.19% (16.71%) Toby Crabel Dec 13 14 Oct 98 - Jun 99 DB PLATINUM IV DBX SYSTEMATIC ALPHA INDEX 30 Jun 10 w $1'267M 116.91 30 Apr 1.59% 1.03% 6.63% -3.96% 4.85% 416% 7.56% (7.87%) FUND - CLASS 11CU Sep 13 14 Apr 13 - Aug 13 DB Platinum Advisors DISCUS FEEDER LTD CL. B USD STANDARD 31 Dec 90 uM $113M 993.10 02May 0.02% (1.46%) -10.32% -13.88% 21.95% 10.58% 15.60% (34.56%) LEVERAGE Apr 14 14 Jun 94 - Oct 95 Team managed EAGLE GLOBAL FUND 30 Sep 95 M $140M = 722,847.20 O2May (0.26%) (18.07%) -15.88% 8.1% 8.82% 11.22% 23.27% (36.19%) Menachem Sternberg Mar 14 14 Apr 13 - Mar 14 EDGESTREAM NIAS FUND 30 Jun 04 uM $634M 183.05 02May 0.19% 0.24% 10.05% -0.82% 452% 6.33% 6.85% (9.76%) Edgestream Partners, LP May 14 14 Dec 04 - Sep 05 FORT GLOBAL DIVERSIFIED 30 Sep 93 D $86M 2,250.07 02 May 0.56% 3.68% 467% T7A2% 39.95% 16.32% 19.27% (26.55%) Yves Balcer, Sajiv Kumar Apr 14 14 May 99 - Sep 00 GRAHAM GIF Il PROPRIETARY MATRIX SP SIES A 30 Jun 99 uM $834M 304.35 06 May (0.41%) (7.95%) 13.72% -0.07% 9.85% 7.78% 11.90% (17.90%) Kenneth G. Tropin Apr 14 14 Apr 11 - Nov 12 GRAHAM GLOBAL INVESTMENT FUND I! - K4D-10V 31 Jan 95 M $2'208M 346.89 06 May (0.27%) (6.04%) 10.04% 4.91% -13.12% 6.67% 12.23% (20.70%) Kenneth G. Tropin Apr 14 14 Apr 11 - Nov 12 GRAHAM GLOBAL INVESTMENT FUND Il- K4D-15V- 31 Dec 00 M $2'208M 203.34 06 May (0.41%) (8.97%) 15.25% -7.15% -18.64% 9.37% 19.26% (29.84%) COMPOSITE Apr 14 14 Feb 04 - Apr 05 Kenneth G. Tropin GRAHAM GLOBAL INVESTMENT FUND TACTICAL 30 Sep 06 Ww $991M 186.81 30 Apr 1.81% (2.22%) 844% 4.21% 0.1% 8.59% 10.13% (8.00%) TREND S/A Apr 14 14 Nov 09 - Jan 10 Graham Capital Management, L.P. KEYNES LEVERAGED QUANTITATIVE STRATEGIES 31 Dec 04 M $241M 97.42 30 Apr (0.64%) (6.03%) -3.98% 654% 5.89% 5.94% 12.04% (12.83%) FUND CLASS - B -COMPOSITE Sep 13 14 Apr 06 - Sep 06 Sushil Wadhwani, LYNX (BERMUDA) LTD 30 Apr 00 M $1'880M 451.44 O7 May (1.48%) (5.15%) W11% = 6.71% 2.25% 11.34% 14.28% (14.72%) Jonas Bengtsson, Svante Bergstrom, Martin Sandquist Mar 14 14 Sep 11 - Aug 13 LYNX BERMUDA 1.5 LTD 30 Apr 08 M $332M 140.50 O7 May (2.21%) (7.87%) 16.7% -10.82% 4.08% 5.81% 22.36% (22.55%) Jonas Bengtsson, Svante Bergstrom, Martin Sandquist Mar 14 14 Sep 11 - Aug 13 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 43 Source - HSBC EFTA00602742

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Managed Futures Inception Liquidity Asset LastNAVor Date MTD YTD 2013 92012 2011 Ann. Return Ann. Vol Max 1 Dates Size Index Drawdown Yid Avg. 2014 Systematic/Global (2.81%) MLIS - GRAHAM CAPITAL SYSTEMATIC MACRO 30 Nov 10 D $83 M 76.41 06 May (0.29%) (6.29%) 11.59% -10.09% -20.38% (7.54%) 12.53% (31.34%) UCITS FUND Feb 14 14 Feb 11 - Nov 12 Graham Capital Management L.P. RENAISSANCE INSTITUTIONAL FUTURES FUND LP 30 Sep 07 uM $584M 124.68 30 Apr 1.38% 4.87% 2.15% -3.17% 1.84% 3.41% 11.12% (22.27%) Renaissance Technologies LLC Feb 14 14 Jun 08 - Jun 09 SOLAISE SYSTEMATIC FUND LTD ( S Class) 31 May 11 M $31M 95.56 02 May (0.49%) (1.11%) 1.84% -0.15% 4.97% (1.55%) 11.66% (13.61%) Ali Nejjar May 14 14 Aug 11 - Aug 13 TEWKSBURY INVESTMENT FUND, LTD -B 31 Dec 90 uM $2'561M 17,790.98 02May 0.50% 6.50% 7.57% 3.53% 4.55% 13.12% 4.71% (7.75%) Matthew Tewksbury Feb 14 14 Jun 07 - Aug 07 TRADELINK INTEGRATED PROGRAM LTD 31 Dec 93 M $67M 2,345.44 02 May (0.31%) (0.93%) 7.76% -6.33% -21.27% 16.77% 22.52% (36.53%) Alex Brockmann Mar 14 14 May 03 - Jan 05 TULIP TREND FUND, LTD -A 31 Mar 03 uM $396M 3,604.76 02 May (1.16%) (2.05%) -0.01% 4.89% 20.93% 12.25% 25.31% (34.25%) Progressive Capital Partners Ltd Mar 14 14 Feb 09 - Jan 10 TWO SIGMA COMPASS CAYMAN FUND 31 Jul 09 M $830M 1,908.04 30 Apr 1.02% 6.30% 14.07% 4.23% 2.33% 14.56% 7.81% (9.85%) Two Sigma Investments, LLC Feb 14 14 Apr 11-Sep 11 WINTON EVOLUTION FUND (THE) 31 Aug 05 uM $239M 1,503.28 O7 May 0.03% (0.24%) 14.56% -8.31% 3.83% 4.80% 10.51% (14.61%) David Harding Mar 14 14 Jun 08 - Jul 09 WINTON FUTURES FUND - CLASS B 30 Sep 97 M — $10'400M 898.99 O7 May (0.03%) 0.12% 9.4% 3.56% 6.29% 14.13% 16.90% (25.08%) David Harding Apr 14 14 Oct 01 - Feb 02 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 44 Source - HSBC EFTA00602743

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Market Neutral Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Inception Liquidity 1 Dates Size Index Drawdown Discretionary Yitd Avg. 2014 0.68% : a Yid Avg. 2014 Discretionary/Asia 7.54% AMAZON MARKET NEUTRAL FUND CLASS A USD 31 Aug 05 $327M 408.71 02May 0.07% 7.54% 7.34% 1.85% 11.56% 17.62% 11.82% (20.20%) Philip King Apr 14 14 Jun 08 - Dec 08 . . Yid Avg. 2014 Discretionary/Europe (1.10%) EXANE MICROMEGAS FUND LTD- CLASS A - CAP 30 Jun 06 €64M 14,853.37 06 May 0.46% (1.05%) 3.43% = -5.74% 1.38% 3.37% 5.40% (8.06%) Jerome Poirel Mar 14 14 Feb 12 - Sep 13 MBAM ACTIVE LONG SHORT 31 Jul 10 $506M 117.19 30 Apr (2.15%) (0.91%) 5.06% 3.61% 0.08% 4.32% 3.52% (2.67%) Hilton Nathanson Mar 14 14 Feb 14- Apr 14 OYSTER MARKET NEUTRAL EUR 31 Jul 09 $285 M 171.69 06 May (0.47%) (1.33%) 10.72% 6.4% 6.15% 2.87% 4.27% (7.06%) Syz Asset Management S.A. Feb 14 14 Dec 10 - Jan 12 . , Yid Avg. 2014 Discretionary/Global 1.14% BLACK DIAMOND RELATIVE VALUE LTD -C-Shs 31 Jul 99 $808M 347.48 30 Apr (0.56%) 2.48% 8.31% 9.48% 3.25% 8.81% 5.37% (8.09%) Clint Carlson Nov 13 14 Mar 11 - Sep 11 MARSHALL WACE - MW MARKET NEUTRAL TOPS A 31 Oct 07 $507M 140.18 O6 May 0.24% 1.08% 18.78% 15.02% 3.18% 5.32% 6.69% (15.98%) USD Jan 14 14 Jun 08 - Nov 08 Anthony Clake. MLIS - MARSHALL W. TOPS UCITS FUND (MKT NTRL) 31 Dec 07 €1'103M 120.73 O06 May 0.13% (0.14%) 7.58% 6.07% 3.46% 3.01% 4.52% (11.63%) Marshall Wace LLP Jan 14 14 dun 08 - Oct 08 : , Yid Avg. 2014 Discretionary/Japan 1.30% EQUILIBRIA JAPAN FUND LTD 1X USD 30 Apr 02 $166M 238.78 30 Apr 0.80% 0.85% 9.16% -3.55% 0.13% 752% 449% (7.20%) James Pulsford, Sara Gardiner-Hill dan 14 14 Jul 11 - Dec 12 EQUILIBRIA JAPAN FUND LTD 2X (USD) 30 Apr 09 $336M 150.54 SO Apr 1.63% 1.74% 19.7% 6.6% 0.5% 8.52% 8.12% (13.42%) James Pulsford, Sara Gardiner-Hill Jan 14 14 Jul 11 - Dec 12 ; Ytd Avg. 2014 Discretionary/UK (1.419%) ABSOLUTE INSIGHT UK EQUITY MKT NEUTRAL 31 Mar 08 €1'130M 1.22 O7 May 0.00% (0.19%) 3.38% 3.49% 2.3% 3.15% 1.44% (1.34%) FUND-CLASS B2P GBP Jan 14 14 Feb 14 - Apr 14 Andrew Cawker, lain Brown, Richard Howarth SCHRODER CAZENOVE UK ABSOLUTE TARGET 30 Jun 08 £247M 122.00 O7 May 0.08% (2.63%) 10.09% 4.08% 11.24% 3.45% 5.34% (9.96%) FUND - P2 GBP Dec 12 14 Sep 09 - Dec 10 Steven Cordell 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 45 Source - HSBC EFTA00602744

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Market Neutral Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Inception Liquidity 1 Dates Size Index Drawdown Equity Diversified Ytd Avg. 2014 (2.10%) . ces . Yid Avg. 2014 Equity Diversified/Asia (1.47%) MACQUARIE ASIAN ALPHA FUND 30 Sep 05 M $1'102M 1,854.85 02May 0.20% 0.49% 9.04% 441% 9.11% 9.52% 6.27% (14.05%) Nick Bird Mar 14 14 Oct 07 - Apr 09 PAN ASIA OPPORTUNITIES FUND LTD CLASS B 31 Jul 10 M $1'131M 122.47 02 May (0.10%) (3.44%) 7.13% 2.92% 9.6% 5.54% 5.29% (4.51%) Jeff Shen, Ryan Kim, Ryan LaFond, Jan Bratteberg Apr 14 14 Nov 13 - Mar 14 Ytd Avg. 2014 Equity Diversified/Europe (4.11%) BLACKROCK EUROPEAN DIVERSIFIED EQUITY A.R.F 30 Sep 10 D €208M 118.20 O7 May (0.16%) (3.07%) 16.13% -0.35% 4.05% 3.87% 5.91% (13.12%) - SHARE CLASS D dan 14 14 Mar 11 - May 12 Robert Fisher/Siman Weinberger GAM TALENTUM ENHANCED EUROPE LONG/SHORT - 30 Nov 04 M €328M 242.36 30 Apr (5.70%) (4.68%) 15.83% 16.66% 2.91% 9.85% 9.15% (25.03%) A- Mar 14 14 Jun 08 - Apr 09 Gianmarco Mondani / Roberto Cantaluppi / Paolo Longinotti GLG EUROPEAN EQUITY ALTERNATIVE FUND UCITS 30 Jun 11 D $1'484M 110.68 02 May 0.34% (4.59%) 7.23% 6.19% 1.87% 3.64% 5.46% (7.75%) AR CLI Apr 14 14 Feb 14 - Apr 14 Pierre Lagrange, Simon Savage, Darren Hodges . Les Yid Avg. 2014 Equity Diversified/Global 2.68% TWO SIGMA ABSOLUTE RETURN FUND LTD 31 Oct 11 M $563M 1,202.88 31Mar (0.13%) 2.68% 11.25% 4.03% 1.23% 7.94% 5.10% (3.30%) Two Sigma Advisers, LLC Mar 14 14 Jun 13 - Aug 13 Multi-Strategy Ytd Avg. 2014 0.06% . . Yid Avg. 2014 Multi-Strategy/Asia (0.16%) LIM ASIA MULTI-STRATEGY FUND CLASS A 31 Dec 95 Q $1'333M 37.28 30 Apr 0.43% (0.16%) 5.63% 3.57% 0.23% TAI 5.73% (15.79%) George W. Long Mar 14 14 Feb 08 - Nov 08 . Yid Avg. 2014 Multi-Strategy/Global 0.27% HUDSON BAY INTERNATIONAL FUND LTD 31 May 06 Q $1'425M 237.12 30 Apr (0.73%) 0.27% 7.9% 11.37% 4.31% 11.52% 5.05% (3.92%) Hudson Bay Capital Management LP Mar 14 14 Nov 07 - Dec 07 Statistical Arbitrage Ytd Avg. 2014 1.58% 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 46 Source - HSBC EFTA00602745

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Market Neutral Inception Liquidity Asset LastNAVor Date MTD YTD 2013 92012 2011 Ann. Return Ann. Vol Max 1 Dates Size Index Drawdown ; Ytd Avg. 2014 Statistical Arbitrage/Global 1.58% A.R.T. INTERNATIONAL INVESTOR (BVI) Ltd 28 Feb 07 Q $611M 220.01 30 Apr 0.09% 1.51% 4.91% 5.67% 7.88% 11.62% 7.90% (10.48%) Aaron Sosnick Mar 14 14 Jul 07 - Aug 07 CAMPBELL GLOBAL ASSETS FUND LTD Class D 31 Dec 00 uM $149M 1,093.94 02May 0.87% (0.74%) -5.62% -10.1% 18.36% 7.99% 10.19% (22.98%) Campbell & Company Oct 13 14 Feb 06 - Aug 07 GSA CAPITAL INTERNATIONAL FUND, LTD- CLASS A 28 Feb 05 Q $1'210M 245.20 O2May 0.48% 3.97% 13.28% 3.64% 15.2% 10.27% 4.38% (11.91%) Jonathan Hiscock Apr 14 14 Jun 08 - Sep 08 Systematic Ytd Avg. 2014 (0.59%) Yid Avg. 2014 Systematic/Europe (2.03%) BLACKROCK EOS CLASS B USD COMPOSITE 28 Feb 02 M $237M 1,418.20 06 May 0.36% (2.03%) 20.08% 3.49% 3.11% 9.48% 8.61% (14.33%) Robert Fisher, Simon Weinberger Apr 14 14 Jul 07 - Jan 08 Yid Avg. 2014 Systematic/Global (0.23%) BLACKROCK 32 CAPITAL MASTER FUND SPC, LTD 31 Jul 02 Y/M $1'044M 2,035.88 02May 0.30% (4.25%) 8.02% 9.41% 24.92% 6.23% 7.38% (25.15%) (THE) - A/1 Apr 14 14 Jun 08 - Sep 09 Raffaele Savi and Ken Kroner BLUEMATRIX FUND CLASS -A- USD 31 Oct 07 uM $1'900M 153.14 31Mar 1.73% 3.42% 12.57% -249% 1.42% 6.86% 6.97% (9.96%) Frank Fehle, Systematic Team Jan 14 14 Ape 11-Sep 11 BRYN MAWR OFFSHORE LTD 31 Dec 95 Q $108M 4,876.84 30 Apr 0.47% 0.12% 0.46% 6.61% 0.56% 9.02% 4.05% (4.11%) Kenneth B. Gray, Jr. & Stephen L. Walsh Mar 14 14 Oct 99 - Dec 99 ROSEMONT OFFSHORE FUND LTD CLASS -A- 30 Apr 06 Q $91M 1,857.71 30 Apr 0.46% (0.22%) -0.76% 6.58% 0.49% 8.04% 4.61% (3.63%) SERIES 1 Mar 14 14 Aug 08 - Nov 08 Kenneth B. Gray, Jr. & Stephen L. Walsh 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 47 Source - HSBC EFTA00602746

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Merger Arbitrage Asset Last NAV or Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Inception Liquidity 1 Dates Size Index Drawdown Merger-Arbitrage Ytd Avg. 2014 2.02% ; Yid Avg. 2014 Merger-Arbitrage/Global 2.33% LION FUND, LTD (THE) 31 Jan 96 M $176M 37.84 31 Mar 1.82% 0.59% “5A7% 2.36% 4.6% 7.51% 9.48% (34.07%) Nick Walker Mar 14 14 Oct 07 - Feb 09 PAULSON ENHANCED LTD 30 Apr 01 s $2'200M 1,139.19 30 Apr 0.69% 3.09% 33.11% 19.6% 21.55% 20.57% 15.92% (30.43%) John Paulson Feb 13 14 Apr 11 -Sep 11 PAULSON INTERNATIONAL, LTD 30 Apr 96 M $1'495M 915.61 30 Apr 0.17% 2.02% 15.68% 9.07% 10.17% 12.56% 7.88% (15.52%) John Paulson Feb 13 14 May 11 - Sep 11 TIG ARBITRAGE ENHANCED FUND 31 Dec 06 M $57M 220.42 30 Apr 1.60% 3.61% 13.34% 7.34% 6.85% 11.38% 8.03% (10.97%) Drew Figdor Mar 14 14 Oct 07 - Oct 08 . , Yid Avg. 2014 Merger-Arbitrage/USA 0.81% GABELL! ASSOCIATES LIMITED - CLASS A 31 Aug 89 M $119M 605.69 O2May 0.23% 0.81% 3.12% 2.55% 3.03% 7.57% 3.24% (6.65%) Mario Gabelli Dec 12 14 Oct 07 - Oct 08 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 48 Source - HSBC EFTA00602747

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Multi-Strategy Inception Liquidity Asset LastNAVor Date MTD YTD 2013 = 2012 2011 Ann. Return = Ann. Vol Max 1 Dates Size Index Drawdown Credit Yid Avg. 2014 4.31% : Yid Avg. 2014 Credit/Europe 3.84% CHENAVARI MULTI STRATEGY CREDIT FUND-MS2€ 31 Jan 12 M $189M 133.62 31Mar 1.70% 3.84% 20.57% 6.72% 14.32% 3.93% (0.45%) Chenavari Investment Managers Feb 14 14 Jul 13 - Aug 13 . Yid Avg. 2014 Credit/Global 4.78% CANYON BALANCED FUND LTD - CLASS A 31 May 04 Q $1'415M 3,532.94 30 Apr 0.40% 4.78% 19.99% 20.52% 457% 13.57% 10.26% (30.14%) MLR. Julis & J.S. Friedman Mar 14 14 Oct 07 - Nov 08 Diversified Yid Avg. 2014 1.36% ; ; Yid Avg. 2014 Diversified/Asia 3.62% PHALANX JAPAN AUSTRALASIA MULTI-STRATEGY 31 Mar 05 Q $119M 1,473.02 31 Mar (1.88%) 1.30% 12.82% 11.48% 4.79% 34.81% 26.75% (30.13%) FUND LTD Mar 14 14 Apr 06 - Mar 07 Christopher S. McGuire SEGANTII ASIA-PACIFIC EQUITY MULTI-STRATEGY 30 Nov 07 M $611M 229.06 02 May (0.53%) 5.93% “1.68% 4.81% 40.75% 13.77% 8.32% (10.16%) FUND Mar 14 14 May 13 - Mar 14 Simon Sadler & Kurt Ersoy ; ; Ytd Avg. 2014 Diversified/Emerging 2.42% SPINNAKER GLOBAL EMERGING MARKETS FUND, 30 Jun 99 Q $1'333M 2,050.31 1SApr O.11% 2.42% 3.37% 20.69% 9.31% 22.64% 11.61% (33.11%) LTD Feb 14 14 May 08 - Feb 09 Bradley Wickens ; . Yid Avg. 2014 Diversified/Global 1.26% AHL DIMENSION USD SHARES CLASS B 30 Jun 06 M $70M 1.45 25 Apr 0.09% 0.64% 3.03% 3.02% 5.83% 4.87% 9.29% (10.62%) Tim Wong, Nick Granger Feb 14 14 Dec 08 - Jan 10 ALLBLUE LIMITED 31 Aug 05 M $8'300M 199.38 30 Apr 0.26% 2.01% 1.53% 5.96% 1.87% 8.29% 4.64% (4.51%) Michael Platt Mar 14 14 Jun 07 - Aug 07 ARROWGRASS MASTER FUND 31 Jan 08 Q €3'399M 165.84 02May 0.75% 2.91% 8.58% 5.6% 0.12% 8.42% 4.07% (3.99%) Nick Niel! , Henry Kenner Apr 14 14 Apr 11-Sep 11 ATLAS ENHANCED FUND LTD 28 Feb 11 M $1'151M 136.57 31 Mar (0.45%) 5.94% 20.85% 12.61% 5.28% 10.62% 8.73% (13.44%) Dmitry Balyasny Dec 13 14 Jul 11 - Apr 12 ATLAS GLOBAL INVESTMENTS LTD UNRESTRICTED 31 Dec 03 M $3'300M 3,778.60 31Mar (0.26%) 3.34% 12.94% 4.84% 4.76% 13.84% 8.52% (12.51%) Dmitry Balyasny Mar 14 14 Jun 04 - Aug 04 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 49 Source - HSBC EFTA00602748

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Multi-Strategy Diversified/Global BLACK DIAMOND, LTD - CLASS B (UNRESTRICTED) Clint D. Carlson BLACKROCK MULTI-STRATEGY FUND LTD - CLASS A Matt McBrady BLACKROCK CAPITAL STRUCTURE INVESTMENTS FUND LTD Chad Meuse, Benoy Thomas BLUECREST CAPL INTLLTD AUSD Michael Platt BOUSSARD & GAVAUDAN HOLDING., LTD ordinary shares Emmanuel Gavaudan BREVAN HOWARD M/S FUND, LTD = CL. A'USD Alan Howard BRUMMER MULTISTRATEGY 2XL, LTD - C - Klaus Jantti, Patrik Brummer BTG PACTUAL GLOBAL EQUITY OPPORTUNITIES FD -B-NNI 8TG Pactual Global Asset Management CQS DIRECTIONAL OPP. FEEDER FUND. Ltd - A NI USD Michael Hintze CQS DIVERSIFIED FUND (SPC) LTD ALPHA CLASS B USD James Peattie & Peter Warren DOUBLE BLACK DIAMOND LTD - SERIES A (UNRESTRICTED) Clint Carlson GLG MARKET NEUTRAL FUND - CLASS Z USD UNRESTRICTED Steve Roth HALCYON PARTNERS OFFSHORE FUND LTD John M. Bader HIGHBRIDGE CAPITAL CORPORATION CLASS -A-Series N (Composite) Mark Vanacore 1. Max Drawdown: Peak to trough. Asset Last NAV or Inception Liquidity Dates Size 31 Dec 95 Q $102M Nov 13 30 Apr 05 M $1'066M Dec 13 31 Dec 08 M $418M May 14 30 Nov 00 Q $13'400M Mar 14 31 Jan 07 D €573M Aug 13 29 Feb 08 uM $4'540M Mar 14 30 Apr 09 M $502M Jan 14 29 Feb 12 Q $356M Dec 13 31 Jul 05 Q $2'602M Apr 14 28 Feb 07 Q $765M Apr 14 31 Mar 98 Q $3'067M Jan 14 31 Dec 97 M $1'089M Apr 14 31 May 04 Q $2°600M Dec 12 31 Aug 92 Q/Y $4'500M dun 13 Past performance is not a reliable indicator of future performance. Source - HSBC Index 349.29 1,524.76 128.28 436.48 17.32 125.76 1,411.73 116.86 4,725.44 1,697.97 447.37 963.47 184.93 90,527.99 Date MTD YTD 30 Apr 14 31 Mar 14 05 May 14 30 Apr 14 07 May 14 02 May 14 30 Apr 14 30 Apr 14 30 Apr 14 30 Apr 14 30 Apr 14 02 May 14 17 Apr 14 30 Apr 14 Yid Avg. 2014 (0.02%) (0.40%) (0.02%) 0.09% (0.15%) 0.03% (2.20%) (2.50%) (0.71%) (0.10%) 0.15% 0.32% (0.58%) 0.19% 1.26% 2.45% (0.41%) (2.59%) 0.79% 3.74% (2.43%) (1.99%) (0.84%) 1.58% 1.08% 2.51% 3.22% 0.64% 2.13% 2013 6.94% 7.04% TAG% 1.56% 13.46% 0.91% 16.54% 8.74% 15.97% 5.99% 7.91% 10.3% TAY 6.5% 2012 2011 Ann. Return Ann. Vol Max Drawdown! 10.27% 0.69% 7.06% 4.02% (18.58%) Aug 08 - Dec 08 7.86% 2.43% 4.84% 5.44% (13.96%) Jun 08 - Dec 08 3.74% 22.94% 477% 7.93% (7.83%) Mar 09 - Apr 09 5.82% 6.1% 11.60% 5.50% (4.83%) May 03 - Aug 03 9.45% 2.59% 6.65% 6.92% (20.69%) May 07 - Sep 08 4.61% 5.2% 3.78% 4.58% (6.29%) Feb 08 - Sep 08 3.55% 1.02% TA4% 6.86% (6.56%) Apr 11-Nov 11 7.42% 7.01% 3.70% (2.69%) Feb 14- Apr 14 35.87% -10.42% 19.41% 13.77% (24.58%) Apr 11-Sep 11 11.4% -3.45% 7.66% 6.68% (14.78%) Jun 08 - Dec 08 12.04% 1.07% 9.76% 5.27% (17.93%) Aug 08 - Dec 08 18.4% 0.78% 14.87% 14.62% (54.03%) Nov 07 - Dec 08 11.24% 5.91% 6.42% 5.50% (15.01%) Oct 07 - Dec 08 9.79% 5.11% 10.70% 7.00% (30.04%) Jun 08 - Nov 08 HSBC Alternative Investment Group | 50 EFTA00602749

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Multi-Strategy Inception Liquidity Dates Diversified/Global HUTCHIN HILL DIVERSIFIED ALPHA MASTER FUND 30 Jun 08 LTD 15% Incentive Allocation Neil Chriss JABCAP GLOBAL BALANCED FUND LTD CLASS D/1 NI 30 Apr 07 Philippe Jabre JABCAP MULTI STRATEGY FUND LTD CLASS D/1 NI 31 Jan 07 Philippe Jabre LINDEN INTERNATIONAL LTD 31 May 03 Joe Wong LMR FUND LTD 31 Jan 10 LMR Partners LLP, LMR Partners Limited MAN GLG MULTI-STRATEGY FUND CLASS G 31 Dec 02 Neil Mason and David Kingsley MAN GLG MULTI-STRATEGY UCITS CLASS D 31 May 12 Neil Mason and David Kingsley MILLENNIUM INTL LTD 31 Dec 89 Israel A Englander PINE RIVER FUND CLASS -B1- SHARES 31 May 02 Aaron Yeary, James Clark PLATINUM PARTNERS VALUE ARBITRAGE INT. FUND 31 Dec 02 LTD Mark Nordlicht QVT OFFSHORE LTD CLASS 1-NR 31 Oct 03 Dan Gold RENAISSANCE INSTITUTIONAL DIVERSIFIED ALPHA 28 Feb 12 FUND INTL. L.P_A Renaissance Technologies LLC STRATUS FUND LIMITED CLASS B 30 Nov 03 Jean-Philippe Bouchaud, Philippe Jordan, Mare Potters, Jacques Sauliere TWO SIGMA HORIZON CAYMAN LTD 30 Apr 08 Two Sigma Investments, LLC VISIUM GLOBAL OFFSHORE FUND LTD 31 Mar 09 Jacob Gottlieb WEISS MULTI-STRATEGY PARTNERS LLC 30 Sep 06 Weiss Multi-Strategy Advisers,LLC 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source - HSBC Asset Last NAV or Index Size $1'865M May 14 $499M Apr 14 $549M Feb 14 $565M Apr 14 $1'135M Mar 14 $178M Apr 14 $344 M Apr 14 $21'730M Mar 14 $4'419M Apr 14 $749M Mar 14 $2'459M Mar 14 $1'248M Feb 14 $210M Feb 14 $296M Mar 14 $1'038M Feb 14 $227M May 14 1,907.31 221.39 161.71 338.95 216.33 102.37 102.94 2,659.96 3,622.47 6,748.31 2,323.44 106.88 2,093.48 1,312.06 306.29 178.62 Date MTD YTD 02 May 14 30 Apr 14 15 Apr 14 30 Apr 14 30 Apr 14 02 May 14 02 May 14 02 May 14 30 Apr 14 31 Mar 14 30 Apr 14 30 Apr 14 02 May 14 30 Apr 14 02 May 14 02 May 14 Yid Avg. 2014 1.26% 0.60% 7.11% (4.09%) (2.93%) (3.84%) (0.279%) 2.05% 10.27% 1.10% 0.57% 0.10% (2.58%) (0.03%) (3.25%) 0.37% 2.50% (0.37%) 1.89% 0.29% 2.14% (0.93%) (0.879%) (0.18%) 1.61% 0.39% 1.16% 0.23% 1.12% 0.89% (1.39%) 0.35% (1.34%) 2013 19.38% 47 8% 43.03% 16% 10.04% 5.09% 4.73% 13.27% 9.58% 10.47% 1.39% 6.53% 1.82% 1.51% 16.93% 14.5% 2012 2011 Ann. Return Ann. Vol Max Drawdown! 11.06% 4.92% 11.69% 6.33% (7.63%) Apr 11 - Feb 12 15.5% -27.33% 12.01% 15.01% (35.04%) Apr 10 - Jun 12 11.8% 25.65% 6.90% 17.33% (40.20%) Feb 08 - Jan 09 4.11% — -7.86% 11.82% 9.53% (24.60%) Feb 08 - Dec 08 8.09% 38.69% 19.93% 10.45% (9.53%) Apr 10 - May 10 4.98% -3.59% 4.57% 7.37% (30.54%) Oct 07 - Dec 08 1% 1.21% 3.36% (3.95%) Feb 14 - May 14 6.32% 8.39% 14.40% 4.38% (7.24%) May 98 - Aug 98 21.75% 5.7% 11.40% 10.44% (29.16%) Jun 08 - Dec 08 11.58% 21.08% 18.49% 4.93% (4.44%) Aug 08 - Oct 08 14.69% 6.55% 8.36% 9.59% (40.35%) Feb 08 - Dec 08 1.26% 3.11% 9.42% (8.76%) Mar 13 - Sep 13 2.89% 15.63% 7.34% 5.87% (10.52%) Feb 12- Sep 13 9.29% -13.97% 4.63% 8.89% (17.85%) May 11 - Nov 11 19.52% 1.75% 24.59% 10.28% (7.80%) Apr 10 - Jun 10 1.75% — -0.15% 7.94% 6.75% (17.75%) Jun 08 - Dec 08 HSBC Alternative Investment Group | 61 EFTA00602750

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Multi-Strategy Inception Liquidity Asset LastNAVor Date MTD YTD 2013 2012 2011 Ann. Return Dates Ann. Vol Max 1 Size Index Drawdown Yid Avg. 2014 Diversified/Global 1.26% WHITEBOX MULTI-STRATEGY FUND 31 Dec 01 Q $466M 555.57 02 May (0.16%) 4.73% 18.09% 11.38% 1.2% 14.90% 9.87% (34.40%) Andrew Redleaf, Paul Twitchell, Rob Vogel, Jason Cross Jan 14 14 Jun 08 - Dec 08 ; . Yid Avg. 2014 Diversified/Japan (0.39%) LIM JAPAN FUND 31 Oct 04 Q $253M 198.01 30 Apr 0.55% (0.39%) 11.39% 5.62% 2.73% 745% 5.83% (10.09%) George Long Feb 14 14 Jun 08 - Feb 09 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 52 Source - HSBC EFTA00602751

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Volatility Arbitrage Asset LastNAVor Date MTD YTD 2013 2012 2011 Ann. Return Ann. Vol Max Inception Liquidity 1 Dates Size Index Drawdown Arbitrage Yid Avg. 2014 (0.49%) Yid Avg. 2014 Arbitrage/Global (0.49%) BLUEMOUNTAIN EQUITY ALTERNATIVES FUND 28 Feb 06 $732M 2,219.47 30 Apr (0.11%) (0.07%) 7.56% 12.24% 7.67% 10.25% 6.70% (9.57%) BlueMountain Capital Management Mar 14 14 Sep 08 - Feb 09 CASSIOPEIA FUND CLASS C 31 Jul 04 $607M 223.31 02 May (0.02%) (2.95%) 0.53% 24.85% 6.52% 11.39% 9.77% (15.42%) Pierre de Saab & Alain Dos Santos Mar 14 14 Mar 10 - Jun 10 LIONSCREST TAILPRO -US EQUITY FUND 31 Aug 08 $122M 221.16 31 Mar 0.00% (1.81%) -6.33% -5.48% 4.56% 15.27% 44.34% (14.28%) Lionscrest Capital Mar 14 14 Sep 11-Feb14 PIMCO MULTI-ASSET VOLATILITY FUND LTD 31 Jul 11 $"1'099M 131.74 31Mar 1.21% 2.85% 617% 13.41% 20.36% 10.88% 7.40% (8.64%) Josh Thimons, Josh Davis, Matt Dorsten Mar 14 14 Oct 12 - Aug 13 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. HSBC Alternative Investment Group | 53 Source HSBC EFTA00602752

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About This Document This document is provided to you by HSBC Private Bank, a division of HSBC Bank USA, N.A. (“the Bank"), for informational purposes and is not a recommendation, offer or solicitation to purchase or sell any product, security, commodity, currency or other instrument. This document does not consider your specific objectives, circumstances or needs, does not provide legal or tax advice, and does not identify or define all the risks that may be associated with investing in hedge funds or any investment. Prior to making an investment decision, you should consult with your own legal, financial, tax, accounting and other professionals regarding the appropriateness of investing in any product, security, commodity, currency or other instrument. No person is authorized to use this document for any purpose other than the purpose stated above. The information contained in this document is derived from a variety of sources we believe to be reliable; however, we cannot guarantee its accuracy or completeness, nor shall we be liable for any incidental or consequential losses or damages including, but not limited to, errors (including errors of transmission), inaccuracies, omissions, changes in market factors or conditions, or any other circumstances beyond our control. The information, analysis and opinions contained herein constitute our present judgment, which is subject to change at any time without notice. The information contained herein is confidential and intended solely for the use of the client or prospective client to whom it has been delivered. It is not to be produced or distributed to any other person except to the client's professional advisors. Third party information obtained in this document may have been obtained from various published and unpublished sources. Past performance is not a reliable indicator of future results. In the United States, HSBC Private Bank offers banking services through HSBC Bank USA, N.A., member FDIC, and HSBC Private Bank International, and provides securities and brokerage services through HSBC Securities (USA) Inc. Where this document is distributed by HSBC Securities USA Inc. please note that alternative investments are generally intended for experienced and financially sophisticated investors who are willing to bear the risks associated with such investments, which can include: loss of all or a substantial portion of the investment; Increase risk of loss due to leveraging; short-selling, or other speculative investment practices; lack of liquidity in that there may be no secondary market for the fund and none expected to develop: volatility of returns; prohibitions and/or material restrictions on transferring interests in the fund: absence of information regarding valuations and pricing; delays in tax reporting; less regulation and higher fees than mutual funds; key man and advisor risk; limited or no transparency to underlying investments; and limited or no regulatory oversight. HSBC Securities USA Inc. has not undertaken the verification of this document, and make no express or implied representation about the accuracy, completeness, sufficiency, value or quality if the materials of the securities and shall have no direct or indirect liability therefore. Securities and funds are provided by Registered Representatives of HSBC Securities (USA) Inc., member NYSE/FINRA/SIPC, a registered Futures Commission Merchant, a wholly owned subsidiary of HSBC Markets (USA) Inc. and an indirectly wholly owned subsidiary of HSBC Holdings plc. Funds and other securities are not FDIC insured nor insured by any other government agency, are not deposits or other obligations of HSBC Bank USA, N.A. and are not guaranteed by HSBC Bank USA, N.A.; they are subject to investment risk including, but not limited to, the possible loss of principal amount invested. HSBC Private Bank is the principal private banking business of the HSBC Group. Private Banking may be carried out internationally by different HSBC legal entities according to local regulatory requirements. Different companies may provide the services listed in this document within HSBC Private Bank or by other members of the HSBC Group. Some services are not available from certain locations. Some HSBC Offices listed may act only as EFTA00602753

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About This Document representatives of HSBC Private Bank, and are therefore not permitted to sell products and services, or offer advice to customers. They serve as points of contact only. Further details are available on request. A complete list of private banking entities is available on our website, www.hsbcprivatebank.com. © Copyright. HSBC Bank USA, N.A 2013 ALL RIGHTS RESERVED No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of HSBC Bank USA. EFTA00602754