Search results for

Emma Barraclough, London

Weaker trade marks, such as those with a descriptive element, should benefit from a narrower scope of protection than highly distinctive marks, following a ruling in the UK last month

The US Court of Appeals for the Second Circuit last month upheld summary judgment in a trade mark case that may have far-reaching implications for the doctrine of famous marks

National and regional patent offices in Africa should "embark on intensive capacity building and awareness raising campaigns" and African nations should "enhance their role as custodians of the governance of Africa's indigenous knowledge and traditional artefacts by enforcing protection laws related to IPRs".

Fund Name Last 3mths Jan-08 Last 6mths Last 12mths YTD Ann Comp Inception European Long Short Equity USD Odey O.E.I. MAC Fund 17.38% 2.49% 35.19% 72.09% 2.49% 13.76% Feb-94 Sandbourne Fund 14.85% 9.58% 6.90% 17.49% 9.58% 4.97% Dec-03 Threadneedle UK Crescendo Fund 13.65% 3.12% 23.47% 30.17% 3.12% 15.12% Jun-01 Resolution Cartesian UK Equity Long Short Fund 12.81% -0.64% 18.69% 27.63% -0.64% 23.53% Apr-06 Meditor European Hedge Fund 12.40% 3.77% 22.53% 26.99% 3.77% 18.00% Sep-98 Range Maritime Fund ** 11.82% 3.60% 29.44% 63.51% 3.60% 67.03% Oct-06 Jupiter Hyde Park Hedge Fund ** 11.09% 8.58% 12.16% 21.65% 8.58% 21.30% Mar-00 TT Mid-Cap Europe Long Short Fund ** 10.82% 6.92% 17.41% 20.63% 6.92% 22.90% May-05 Odey European 10.21% -0.33% 22.95% 56.35% -0.33% 13.17% Dec-01 Eclectica Fund 8.59% 5.22% 2.51% 6.56% 5.22% 13.01% Oct-02 Trafalgar Azri Fund * 6.88% 1.35% n/a n/a 1.35% 30.47% Nov-07 Horseman European Select Fund ** 6.86% 7.31% 15.83% 37.18% 7.31% 31.19% Jul-05 GLG Alpha Select Class A 6.80% 5.19% 9.80% 20.26% 5.19% 13.48% Jan-05 Cazenove European Equity Absolute Return Fund 5.74% 2.26% 9.99% 14.41% 2.26% 10.93% Dec-03 Cazenove European Alpha Absolute Return Fund 5.30% 2.09% 11.46% n/a 2.09% 24.81% Apr-07 Liontrust European Long/Short Fund 4.90% -0.77% 17.09% 29.62% -0.77% 26.87% Dec-06 Smith & Williamson Enterprise Fund 4.76% 0.76% 11.91% 22.50% 0.76% 16.99% Apr-06 Zulauf Europe Fund USD Ltd. 4.62% -3.44% 6.83% 5.92% -3.44% 11.84% Aug-98 Granada Europe Fund Ltd. 4.57% 2.55% 5.05% 6.47% 2.55% 7.50% Sep-04 Cygnus European Utilities L/S Fund 4.33% -1.25% 5.97% 3.47% -1.25% 17.22% May-06 Cazenove Leveraged UK Equity Absolute Return Fund 3.74% 0.51% 9.02% 14.07% 0.51% 11.90% Dec-05 AlphaGen EtaCas Class A 3.74% -1.95% 10.71% 7.90% -1.95% 11.17% Dec-05 Greater Europe Deep Value Fund II Ltd 3.50% -3.15% 6.81% n/a -3.15% 12.78% Jun-07 JPM Europe Dynamic Long Short Fund 3.33% -0.91% 8.82% 19.45% -0.91% 23.83% Dec-03 AlphaGen EtaCas Class C - JPY 2.92% -2.09% 9.28% 4.02% -2.09% 7.28% Jan-06 AlphaGen Altai Class A 2.76% -0.21% 6.07% 6.78% -0.21% 5.14% Dec-01 BlackRock UK Equity Hedge Fund ** 2.42% 5.03% 0.45% 6.35% 5.03% 12.58% May-05 Cheyne European Opportunities 2.35% -4.11% 6.76% 3.53% -4.11% 12.13% Jul-03 Cazenove UK Equity Absolute Return Fund 2.30% 0.44% 5.24% 8.50% 0.44% 8.23% Nov-03 AlphaGen Volantis Class A 2.28% 1.60% 3.78% 14.87% 1.60% 17.25% May-02 Sofaer Capital European 2.18% 1.84% 3.11% 9.50% 1.84% 9.90% Jul-98 Threadneedle European Smaller Companies Crescendo Fund 2.13% 0.39% 4.44% 10.91% 0.39% 10.91% Feb-07 AlphaGen Altai Class C - JPY 1.75% -0.56% 4.03% 2.59% -0.56% 2.87% Jun-02 Polar Capital UK Fund 1.61% 6.58% 3.42% 10.00% 6.58% 8.81% Nov-01 Cantillon Europe Unrestricted Series 1 1.57% -6.04% 1.54% 9.48% -6.04% 13.28% Sep-03 Talentum Enhanced 1.46% 0.43% 10.23% 19.66% 0.43% 19.41% Aug-05 Platinum Libra Fund * 1.29% 2.63% 7.13% 13.59% 2.63% 13.12% Feb-06 Rivoli Equity Fund 1.20% 1.85% 5.42% -0.95% 1.85% 6.72% Oct-04 Northwood Capital European Fund ** 1.17% 1.06% 3.75% 7.13% 1.06% 11.76% Sep-05 Cazenove UK Dynamic Absolute Return Fund 1.13% 3.15% 1.95% 11.75% 3.15% 16.04% Jun-05 Talentum Activedge 1.04% 0.25% 5.77% 11.18% 0.25% 11.48% Aug-05 Henderson European Absolute Return Fund 0.97% 6.93% -1.82% 19.18% 6.93% 21.04% Jun-01 Corto European Fund 0.88% -1.80% 3.30% 9.31% -1.80% 15.09% Aug-06 LGIM UK Smaller Companies Alpha Fund 0.86% -1.32% 5.50% n/a -1.32% 8.55% Jul-07 NewSmith UK Hedge Fund 0.49% -1.85% 2.58% 7.58% -1.85% 7.01% Apr-04 New Star UK Gemini Hedge Fund 0.48% -2.18% 7.19% 21.92% -2.18% 13.75% Jan-05 MBAM Jandakot 0.29% 0.01% 2.58% 10.28% 0.01% 12.74% Apr-02 Pelham Long/Short Fund Ltd 0.14% -3.82% n/a n/a -3.82% 0.55% Nov-07 MBAM Tomahawk Fund -0.19% -1.65% 0.07% 6.30% -1.65% 18.37% Jul-98 S.W. Mitchell Small Cap European Fund -0.22% 0.08% n/a n/a 0.08% -0.88% Nov-07 Talentum Core Alpha -0.23% 0.09% 7.09% 18.56% 0.09% 14.91% Feb-06 MBAM Jandakot Leveraged Fund -0.44% -0.43% 2.88% 16.21% -0.43% 12.54% Apr-06 Old Mutual UK Specialist Equity Fund -0.50% -0.73% 2.47% 8.50% -0.73% 10.21% Mar-03 Libra Europe Fund -0.87% 1.18% 0.44% 8.74% 1.18% 15.35% Sep-06 Polar Capital European Conviction Absolute Return Fund -1.04% -3.76% 3.68% 3.33% -3.76% 5.29% Apr-06 MBAM Tomahawk Leveraged Fund -1.05% -3.56% -1.84% 8.70% -3.56% 14.01% Feb-06 Gruss European Value Fund LP -1.21% 0.57% -3.91% 0.33% 0.57% 9.14% Jan-05 Framlington Absolute Return UK Fund ** -1.21% -0.11% -2.38% 4.71% -0.11% 8.68% Dec-04 AlphaGen Velas Fund Class A -1.52% -2.75% -0.82% -2.52% -2.75% 9.51% May-03 Fortis D European Long/Short Fund -1.55% -0.21% -2.27% -1.76% -0.21% 3.26% Dec-03 Lansdowne UK Equity Fund -1.64% -4.47% 5.73% 23.92% -4.47% 18.71% Aug-01 Sierra Europe Offshore * -1.80% 4.11% -0.15% 7.18% 4.11% 12.63% Mar-97 Theorema Plus Fund Class B1 -1.85% -6.31% 2.27% 12.52% -6.31% 22.71% Sep-04 Threadneedle European Crescendo Fund -2.03% -3.15% -1.34% 0.89% -3.15% 8.52% Sep-00 Victory Fund - Class B* -2.34% -1.50% -5.06% -6.89% -1.50% 8.05% Mar-98 AlphaGen Acamar -2.46% -0.92% -2.70% 5.27% -0.92% 8.92% Apr-06 TT Permal Europe Fund -2.65% -1.02% 0.20% 4.52% -1.02% 10.01% Oct-01 AlphaGen Capella Class A -2.70% -2.03% -1.88% 2.41% -2.03% 15.76% Nov-99 Maga Smaller Companies Fund -2.92% -2.29% -2.60% 5.33% -2.29% 14.56% Apr-04 Park Place Europe * -2.95% -5.75% -5.31% -3.28% -5.75% 13.11% Nov-94 SGAM AI Opportunity Long Short Fund -2.95% -0.43% -4.94% 12.39% -0.43% -1.74% Jan-06 GAM EuroSystematic Value Hedge -3.03% -4.10% 2.09% 8.99% -4.10% 10.17% Nov-05 Henderson European Style Rotation Absolute Return Fund -3.05% -2.62% 2.37% 5.39% -2.62% 8.20% Nov-05 Henderson UK Equity Long Short Fund -3.08% 1.92% 3.24% 17.08% 1.92% 10.98% Jul-03 Ratio European Fund -3.21% -0.86% -4.67% 5.64% -0.86% 13.21% Feb-06 New Star European Opportunities Hedge Fund -3.29% 0.58% 7.51% n/a 0.58% 11.16% Jun-07 Selectium Europe Fund -3.39% -4.48% -1.07% 1.73% -4.48% 9.44% Jan-04 AKO Fund -3.62% -3.00% -1.05% 1.77% -3.00% 13.40% Oct-05 Lazard European Explorer Fund Ltd -3.77% -0.44% -0.99% 11.78% -0.44% 11.67% May-04 Lansdowne European Equity Fund Class A -4.24% -5.51% -3.81% -1.94% -5.51% 13.86% Sep-98 Medea Pan-European Utilities Fund (Class B) -4.49% -2.83% 1.17% 6.14% -2.83% 10.93% Jan-06 AlphaGen Avior Class A -4.54% 1.57% -3.47% -2.32% 1.57% 7.74% Nov-01 Pepin Fund -4.96% -0.58% -7.27% -5.85% -0.58% 6.93% Jan-02 Anak European Fund -5.07% -3.15% -6.92% -3.41% -3.15% 4.32% Sep-03 Lansdowne European Equity Fund Class B -5.08% -5.87% -3.94% -0.79% -5.87% 11.71% Nov-02 Polar Capital Paragon Fund -5.26% -4.38% 2.96% 10.45% -4.38% 28.66% Apr-04 GLG European Long/Short Fund Class A -5.28% -4.02% -1.73% 9.31% -4.02% 13.21% Oct-00 Marshall Wace European Tops Fund Class A (Opportunistic) -5.30% -3.83% -2.31% 3.29% -3.83% 15.00% Jan-05 AlphaGen Octanis Class A -5.47% 1.45% -3.51% -3.18% 1.45% 10.32% Mar-05 Melchior European Fund -5.87% -6.63% -4.41% -2.81% -6.63% 3.26% Oct-06 Polaris Prime Europe* -6.04% -8.47% -9.09% -1.73% -8.47% 29.07% Feb-97 FCM European Opportunities Fund -6.12% -2.99% n/a n/a -2.99% -11.19% Oct-07 Kingsway Segregated Portfolio Class B -6.24% -5.87% -5.75% -4.32% -5.87% 11.65% Mar-99 JPM Europe Equity Market Neutral Fund -6.32% -5.55% -5.61% 1.70% -5.55% 7.01% Jan-03 GAM European Equity Hedge -6.88% -2.97% -5.20% 2.79% -2.97% 7.96% Jun-98 Artemis European Hedge Fund -7.29% -4.20% -5.91% -1.04% -4.20% 6.48% Oct-02 Antares European Fund * -7.30% -6.80% -6.91% 2.66% -6.80% 16.05% Dec-98 Mir UK Hedge Fund -7.40% -5.27% -7.03% -5.32% -5.27% 3.33% Jul-01 RAB Europe Fund - Class B -7.45% -5.65% -3.75% 4.57% -5.65% 11.62% Nov-99 Marshall Wace European Tops Fund Class B (Fundamental) -7.73% -5.06% -3.22% 1.24% -5.06% 12.20% Jan-05 Polar Capital Forager Fund -8.14% 0.01% -3.57% 9.16% 0.01% 17.31% Aug-03 Explora European Fund -8.47% -0.07% -9.49% n/a -0.07% -18.08% Aug-07 RAB UK Equity Fund - Class B* -8.61% -2.85% -7.67% 7.79% -2.85% 9.65% Oct-01 Egerton European Dollar Fund Class A -8.99% -6.74% -3.14% 3.71% -6.74% 19.61% Dec-94 AlphaGen RhoCas Class A -9.06% -7.58% -5.07% 2.44% -7.58% 16.56% Jul-04 Egerton European Dollar Fund Class B -9.11% -6.74% -2.95% 4.35% -6.74% 19.94% Dec-94 Anak European Select Fund -9.12% -5.86% -12.42% -8.10% -5.86% -1.11% Mar-06 Egerton European Dollar Fund Class C -9.23% -6.74% -2.74% 4.98% -6.74% 20.21% Dec-94 Eureka Fund -9.26% -5.71% -6.73% -2.06% -5.71% 16.30% Jan-98 AlphaGen RhoCas Class C - JPY -9.77% -7.83% -6.68% -1.12% -7.83% 13.33% Jul-04 TT Long/Short Europe Fund Limited ** -10.00% -5.83% -7.14% -3.40% -5.83% 13.78% Apr-04 Zebedee European Fund -10.06% -6.67% -13.49% -0.02% -6.67% 5.78% Feb-01 Thames River Tybourne Fund -10.24% -8.05% -11.45% -5.71% -8.05% 1.65% Jul-06 Monsoon Value Discovery Fund -10.33% -2.98% -7.86% -10.05% -2.98% 6.66% Oct-01 Martin Currie ARF European Fund -10.41% -5.08% -11.83% -9.13% -5.08% 7.80% Sep-05 Adelphi Europe Fund Class A -10.77% -8.11% -11.26% -7.78% -8.11% 12.18% Oct-97 New Star European Hedge Fund -10.81% -2.53% -14.55% -9.82% -2.53% 7.04% Oct-01 Jupiter Ganymede Hedge Fund Ltd ** -10.88% -5.49% -8.46% -3.22% -5.49% 8.06% Apr-04 Matrix New Europe Fund -10.93% -10.35% -5.42% 0.97% -10.35% 4.44% Jan-07 Anak European Fund Leveraged -11.05% -6.68% -15.55% -10.80% -6.68% -1.74% Mar-06 AlphaGen Tucana Class A -11.20% -7.80% -8.12% -0.58% -7.80% 16.23% Jan-05 AXA Framlington Absolute Return UK Smaller Companies -11.21% -4.77% -13.80% -6.13% -4.77% -1.32% Feb-06 Jupiter Europa Hedge Fund Ltd ** -11.41% -6.80% -12.35% -8.81% -6.80% 13.29% Dec-01 Kingsway Plus Fund Portfolio Class B -11.80% -10.82% -11.53% n/a -10.82% -21.25% Jun-07 Explora European Small & Mid Cap Fund -11.91% -7.56% -16.48% -6.16% -7.56% 13.46% Sep-05 Giano Capital ** -12.14% -6.96% -11.24% -16.16% -6.96% 14.38% Nov-94 Bear Stearns Europe Long/Short Fund -12.38% -8.23% -5.55% 6.32% -8.23% 10.65% Sep-06 Marshall Wace Core Fund Ltd -12.91% -7.52% -11.49% -7.47% -7.52% -1.00% Nov-06 Old Mutual UK Dynamic Equity Fund -13.90% -6.58% -10.10% -1.09% -6.58% 17.44% Jul-05 MPC Pilgrim Fund Class B -13.94% -4.80% -12.91% -8.52% -4.80% 7.80% Oct-00 Genus 15 -14.27% -7.77% -21.93% -15.69% -7.77% 3.01% Mar-05 SR Global Fund (Class A) Europe -14.91% -10.73% -10.15% 1.21% -10.73% 13.86% Jan-94 Rock Real Estate Securities Fund -14.99% -8.17% -19.66% -17.97% -8.17% -9.78% Nov-06 Lucerne Nordic Master Fund* -15.16% -6.01% -19.60% -13.25% -6.01% 9.39% Mar-06 Charlemagne Fund ** -15.39% -7.01% -20.41% -16.15% -7.01% 11.12% Jun-99 S.W. Mitchell European Fund ** -15.46% -6.69% -20.69% -16.12% -6.69% 4.58% Nov-05 Matrix Europe Fund Ltd Class A -15.73% -4.90% -6.71% 5.55% -4.90% 3.86% Mar-05 Focus Capital Investors -16.42% -8.70% -19.45% 6.59% -8.70% 43.77% Apr-06 Cotton Hall European Opportunities Fund * -16.88% -10.80% -9.41% -7.14% -10.80% 15.10% Jul-97 KI Speciality Financials Fund ** -17.84% -8.10% -16.53% -16.03% -8.10% 3.18% Feb-05 GAM European Small Cap Hedge -18.03% -11.12% -23.83% -11.11% -11.12% 11.28% Apr-03 Greater Europe Fund Limited ** -20.04% -16.99% -20.47% -14.47% -16.99% 26.49% Apr-98 Modulus Europe -20.06% -11.52% -24.96% -21.00% -11.52% 11.22% Mar-02 Lazard European Discovery Fund -24.68% -15.00% -28.71% -21.42% -15.00% 4.87% Oct-05 Lucerne Capital Offshore Fund Ltd* -26.40% -16.08% -29.26% -21.34% -16.08% 15.74% May-03 Lucerne Capital Fund, L.P.* -26.57% -16.37% -29.47% -21.54% -16.37% 14.86% Jan-02 Lucerne Mid-Cap Offshore Fund * -27.97% -16.36% -29.88% -21.16% -16.36% 7.07% Mar-05 Concentric European Fund -28.90% -21.67% -33.55% -30.28% -21.67% 8.01% Dec-02 Pygar Fund -41.06% -24.62% -45.92% -47.00% -24.62% 7.14% Feb-05 European Long Short Equity GBP Odey O.E.I. MAC Fund 17.91% 2.68% 35.81% 72.53% 2.68% 20.93% Jul-04 Sandbourne Fund 15.07% 9.58% 7.35% 18.11% 9.58% 5.26% Dec-03 Threadneedle UK Crescendo Fund 14.03% 3.16% 23.97% 30.69% 3.16% 16.43% Jun-01 Resolution Cartesian UK Equity Long Short Fund 13.66% -0.61% 20.15% 29.20% -0.61% 23.91% Apr-06 Jupiter Hyde Park Hedge Fund ** 11.45% 8.63% 12.46% 21.73% 8.63% 16.62% Feb-06 Odey European 10.73% -0.18% 23.60% 56.88% -0.18% 17.07% Jul-04 King & Shaxson Premier Fund 10.23% 1.18% 17.64% 19.84% 1.18% 16.41% Jan-06 Eclectica Fund 9.71% 5.64% 3.56% 8.12% 5.64% 14.04% Oct-02 Cazenove European Equity Absolute Return Fund 5.96% 2.31% 10.28% 14.73% 2.31% 11.86% Dec-03 Cazenove European Alpha Absolute Return Fund 5.44% 2.15% 11.64% n/a 2.15% 25.01% Apr-07 Smith & Williamson Enterprise Fund 5.14% 1.04% 12.36% 22.85% 1.04% 16.69% Apr-06 Liontrust European Long/Short Fund 4.78% -0.77% 16.59% 28.83% -0.77% 26.14% Dec-06 Cazenove Leveraged UK Equity Absolute Return Fund 3.97% 0.57% 9.34% 14.48% 0.57% 11.96% Dec-05 BlackRock UK Equity Hedge Fund ** 2.58% 5.03% 0.79% 6.78% 5.03% 12.82% May-05 AlphaGen Volantis Class C 2.55% 1.68% 4.20% 15.39% 1.68% 18.50% May-02 Cazenove UK Equity Absolute Return Fund 2.55% 0.50% 5.61% 8.96% 0.50% 9.14% Nov-03 Threadneedle European Smaller Companies Crescendo Fund 2.42% 0.45% 4.85% 11.39% 0.45% 12.32% Jan-07 Polar Capital UK Fund 1.81% 6.63% 3.71% 10.37% 6.63% 9.95% Nov-01 New Star Apollo Hedge Fund 1.77% 0.49% 8.75% 14.15% 0.49% 12.20% Apr-02 BlackRock UK Emerging Companies Hedge ** 1.71% 0.74% 6.55% 12.86% 0.74% 20.37% May-04 Cazenove UK Dynamic Absolute Return Fund 1.26% 3.18% 2.19% 12.15% 3.18% 16.10% Jun-05 Platinum Libra Fund * 1.12% 2.43% 4.42% 21.23% 2.43% 12.59% Jun-06 London Bluechip Fund 0.73% 1.94% 7.32% 11.15% 1.94% 7.71% Dec-97 NewSmith UK Hedge Fund 0.68% -1.89% 2.95% 8.08% -1.89% 7.96% Apr-04 New Star UK Gemini Hedge Fund 0.58% -2.31% 7.28% 21.92% -2.31% 13.82% Dec-03 Old Mutual UK Specialist Equity Fund -0.17% -0.59% 2.97% 9.05% -0.59% 10.67% Mar-03 Framlington Absolute Return UK Fund ** -0.55% 0.07% -1.60% 5.61% 0.07% 9.15% Dec-04 Polar Capital European Conviction Absolute Return Fund -0.63% -3.66% 4.23% 3.98% -3.66% 5.33% Apr-06 GAM UK Equity Hedge Fund -0.91% -2.09% 2.89% 10.68% -2.09% 9.98% Nov-03 Pegasus Fund -1.01% -3.98% -3.58% -2.91% -3.98% 13.85% Nov-97 Lansdowne UK Equity Fund -1.22% -4.31% 6.39% 24.70% -4.31% 20.47% Aug-01 Victory Fund - Class A* -2.01% -1.40% -4.56% -6.18% -1.40% 9.82% Dec-97 AlphaGen Acamar -2.22% -0.84% -2.30% 5.65% -0.84% 9.10% Apr-06 New Star European Opportunities Hedge Fund -3.26% 0.55% 7.46% n/a 0.55% 11.18% Jun-07 Artemis UK Hedge -4.14% -3.78% 0.61% 2.63% -3.78% 8.87% Dec-04 AlphaGen Avior Class C -4.31% 1.66% -3.15% -1.97% 1.66% 9.10% Nov-01 Polar Capital Paragon Fund -4.88% -4.23% 3.22% 10.79% -4.23% 29.67% Apr-04 AlphaGen Octanis Class C -5.07% 1.59% -3.05% -2.45% 1.59% 11.14% Mar-05 Melchior European Fund -5.60% -6.57% -4.00% -2.37% -6.57% 3.49% Oct-06 FCM European Opportunities Fund -6.01% -2.91% n/a n/a -2.91% -10.91% Oct-07 Mir UK Hedge Fund -6.44% -4.38% -5.90% -3.90% -4.38% 4.82% Jul-01 Artemis European Hedge Fund -6.65% -4.10% -5.22% -0.68% -4.10% 7.84% Aug-02 Polar Capital Forager Fund -8.00% 0.06% -3.46% 9.25% 0.06% 18.20% Aug-03 RAB UK Equity Fund - Class P* -8.66% -2.86% -7.84% 7.38% -2.86% 9.47% Oct-01 Martin Currie ARF European Fund? -10.21% -5.09% -11.66% -8.86% -5.09% 11.44% Jun-04 Thames River Tybourne Fund -10.28% -8.05% -11.09% -5.00% -8.05% 1.99% Jul-06 Northglen Aggressive Fund SP -10.70% -6.61% -12.00% 18.67% -6.61% 62.58% Jun-06 Jupiter Ganymede Hedge Fund Ltd ** -10.73% -5.47% -8.28% -2.99% -5.47% 12.78% Sep-03 New Star European Hedge Fund -10.74% -2.81% -14.27% -9.62% -2.81% 8.49% Oct-01 Matrix New Europe Fund -10.74% -10.34% -5.10% 1.36% -10.34% 4.77% Jan-07 AXA Framlington Absolute Return UK Smaller Companies -11.17% -4.86% -13.40% -5.65% -4.86% -1.28% Feb-06 Kingsway Plus Fund Portfolio Class C -11.25% -10.71% -10.89% n/a -10.71% -19.88% Jun-07 MPC Pilgrim Fund Class C -13.59% -4.92% -12.54% -8.06% -4.92% 8.99% Oct-00 Old Mutual UK Dynamic Equity Fund -13.83% -6.53% -9.98% -0.91% -6.53% 17.42% Jul-05 EEA Select Opportunities Fund -13.94% -4.75% -15.79% -9.42% -4.75% 17.36% Apr-04 Rock Real Estate Securities Fund -15.10% -8.41% -18.95% -17.27% -8.41% -2.97% Jul-06 Matrix Europe Fund Ltd Class A -15.51% -4.80% -5.93% 6.68% -4.80% 4.38% Mar-05 RAB European Dynamic Fund* -16.11% -13.70% -16.13% -5.83% -13.70% 16.84% Dec-03 KI Speciality Financials Fund ** -17.33% -7.88% -15.95% -15.46% -7.88% 3.67% Feb-05 European Long Short Equity EUR Threadneedle UK Crescendo Fund 13.50% 3.17% 22.57% 28.47% 3.17% 14.67% Jun-01 Resolution Cartesian UK Equity Long Short Fund 12.11% -0.86% 17.67% 25.95% -0.86% 22.00% Apr-06 Meditor European Hedge Fund 11.61% 3.28% 20.51% 23.91% 3.28% 17.55% Sep-98 Jupiter Hyde Park Hedge Fund ** 10.72% 8.31% 11.40% 19.83% 8.31% 15.03% Feb-06 TT Mid-Cap Europe Long Short Fund ** 10.57% 6.78% 16.93% 19.50% 6.78% 23.51% Jul-04 Odey European 9.99% -0.37% 22.12% 54.56% -0.37% 15.18% Jun-92 DynaCap European Opportunity Fund Ltd 9.96% -6.71% 17.05% 25.37% -6.71% 16.36% Jul-06 Eclectica Fund 9.57% 5.50% 2.46% 6.44% 5.50% 12.21% Oct-02 TradeWind Equity Fund 7.56% 2.10% n/a n/a 2.10% 9.92% Sep-07 Trafalgar Azri Fund * 6.76% 1.35% n/a n/a 1.35% 29.91% Nov-07 GLG Alpha Select Class C 6.59% 5.12% 9.30% 18.77% 5.12% 11.42% Sep-04 Horseman European Select Fund ** 6.56% 7.05% 15.13% 35.04% 7.05% 28.79% Jul-05 JPM Europe Dynamic Long Short Fund 6.28% -0.93% 11.37% 22.47% -0.93% 23.72% Oct-03 Cazenove European Equity Absolute Return Fund 5.53% 2.18% 9.45% 13.19% 2.18% 10.14% Dec-03 Selectium Holdings Fund 5.42% 1.67% 5.19% 10.33% 1.67% 10.33% Feb-07 Cazenove European Alpha Absolute Return Fund 5.10% 2.02% 10.77% n/a 2.02% 23.35% Apr-07 Granada Europe Fund Ltd. 4.57% 2.55% 5.05% 6.47% 2.55% 7.50% Sep-04 Granada Europe Fund Ltd.- CHF 4.57% 2.55% 5.05% 6.47% 2.55% 7.50% Sep-04 Dexia Long Short Double Alpha? 4.53% 2.32% 6.90% 7.88% 2.32% 5.39% Mar-01 Brummer & Partners Futuris 4.51% 9.42% -2.69% 17.34% 9.42% 19.42% Oct-99 Zulauf Europe Fund EURO Ltd. 4.41% -3.63% 5.60% 2.77% -3.63% 10.88% Aug-98 Sourcecap Primary Research Fund 4.27% 1.79% 4.28% n/a 1.79% 7.51% Jul-07 Liontrust European Long/Short Fund 4.11% -0.85% 15.20% 26.67% -0.85% 24.20% Dec-06 SEB Enskilda Nordic Equity Long/Short Fund 3.55% 1.61% -2.67% -1.59% 1.61% 6.24% Jun-06 Cazenove Leveraged UK Equity Absolute Return Fund 3.46% 0.42% 8.29% 12.59% 0.42% 10.19% Dec-05 AlphaGen EtaCas Class B 3.46% -2.09% 10.34% 6.74% -2.09% 9.58% Dec-05 AlphaGen Altai Class B 2.56% -0.29% 5.60% 5.69% -0.29% 5.01% Apr-02 BlackRock UK Equity Hedge Fund ** 2.29% 5.00% 0.20% 5.35% 5.00% 11.04% May-05 AlphaGen Volantis Class B 2.13% 1.49% 3.36% 13.73% 1.49% 16.80% May-02 Cazenove UK Equity Absolute Return Fund 2.02% 0.34% 4.57% 7.13% 0.34% 7.25% Nov-03 Herald Europe CI 1.99% 1.21% 0.26% 5.98% 1.21% 5.27% Aug-05 Threadneedle European Smaller Companies Crescendo Fund 1.98% 0.34% 3.94% 9.82% 0.34% 10.80% Jan-07 Sofaer Capital European 1.83% 1.42% 2.12% 7.94% 1.42% 9.47% Jul-98 SVM Highlander Fund 1.81% -0.96% 8.89% 24.00% -0.96% 13.73% Apr-99 BlackRock European Opportunities Hedge Fund ** 1.65% 1.22% 0.32% 6.47% 1.22% 13.70% Jan-06 SVM Saltire 1.50% 0.63% 7.87% 23.52% 0.63% 11.30% Nov-02 Polar Capital UK Fund 1.44% 6.45% 3.03% 8.93% 6.45% 8.58% Nov-01 Cantillon Europe Unrestricted Series 1 1.30% -6.22% 0.86% 8.09% -6.22% 12.62% Sep-03 Talentum Enhanced 1.29% 0.37% 9.32% 17.89% 0.37% 18.42% Dec-04 BlackRock UK Emerging Companies Hedge ** 1.27% 0.59% 5.57% 11.00% 0.59% 18.31% May-04 GLG Esprit Fund 1.24% 0.26% 3.75% 9.09% 0.26% 12.63% Sep-06 Allianz RCM Discovery Europe 1.10% 1.72% 7.01% n/a 1.72% 12.97% Jun-07 Rivoli Equity Fund 1.00% 1.76% 4.75% -2.11% 1.76% 5.38% Oct-04 Henderson European Absolute Return Fund 0.96% 6.96% -2.26% 17.80% 6.96% 20.72% Jun-01 Northwood Capital European Fund ** 0.96% 0.96% 3.17% 5.74% 0.96% 9.89% Sep-05 Talentum Activedge 0.94% 0.29% 5.18% 9.73% 0.29% 8.39% Jul-02 Cazenove UK Dynamic Absolute Return Fund 0.92% 3.08% 1.43% 10.57% 3.08% 14.37% Jun-05 Corto European Fund 0.75% -1.83% 2.80% 8.22% -1.83% 13.66% Aug-06 Candela Fund 0.56% 0.11% 3.04% 13.34% 0.11% 8.27% Oct-00 Antaurus Europe Fund 0.46% 1.88% -1.72% 5.26% 1.88% 14.53% Oct-06 Exane Templiers Fund ** 0.29% -0.62% 2.99% 8.10% -0.62% 11.44% Mar-06 NewSmith UK Hedge Fund -0.03% -2.00% 1.70% 6.01% -2.00% 5.84% Apr-04 Exane Archimedes Fund ** -0.14% -1.77% 3.62% 7.83% -1.77% 7.71% Oct-06 FIM Maltti Special Mutual Fund -0.28% 0.58% -0.65% 1.59% 0.58% 4.36% Jul-03 Talentum Core Alpha -0.35% 0.12% 6.29% 16.87% 0.12% 14.17% Nov-05 Platinum Libra Fund * -0.45% 0.98% -0.42% 1.10% 0.98% 2.29% Feb-06 S.W. Mitchell Small Cap European Fund -0.47% 0.02% n/a n/a 0.02% -1.87% Nov-07 Old Mutual UK Specialist Equity Fund -0.53% -0.66% 2.11% 7.29% -0.66% 9.15% Mar-03 Exane Gulliver Fund ** -0.64% -1.21% 0.32% 2.49% -1.21% 6.17% Oct-01 Theorema Europe Fund Class A -0.64% -2.98% 1.31% 6.64% -2.98% 9.70% Jun-01 Libra Europe Fund -1.02% 1.12% -0.03% 8.12% 1.12% 12.65% Nov-01 Polar Capital European Conviction Absolute Return Fund -1.12% -3.79% 3.29% 2.36% -3.79% 3.83% Apr-06 Unifortune Albatross Fund* -1.17% -1.76% -0.28% 5.25% -1.76% 8.32% Jan-05 Gruss European Value Fund LP -1.23% 0.56% -4.13% -0.56% 0.56% 8.00% Jan-05 FiveMore Fund Ltd -1.31% -1.23% 0.89% 46.99% -1.23% 46.99% Feb-07 Framlington Absolute Return UK Fund ** -1.32% -0.25% -2.97% 3.31% -0.25% 7.05% Dec-04 Greyshrike European Fund - A Shares -1.52% 0.24% -9.41% 8.26% 0.24% 10.83% Jul-06 Totem Fund -1.57% -0.48% -3.52% 1.78% -0.48% 7.26% Jul-01 AlphaGen Velas Fund Class B -1.65% -2.78% -1.25% -3.39% -2.78% 8.93% May-03 Lansdowne UK Equity Fund -1.71% -4.45% 4.81% 22.15% -4.45% 18.62% Aug-01 Fortis D European Long/Short Fund -1.72% -0.29% -1.89% -2.14% -0.29% 3.88% Dec-02 Sierra Europe Offshore * -1.97% 3.70% -0.67% 5.65% 3.70% 11.00% Nov-97 Threadneedle European Crescendo Fund -2.11% -3.10% -1.82% -0.18% -3.10% 8.24% Sep-00 Victory Fund - Class C* -2.52% -1.60% -5.50% -7.78% -1.60% 5.43% Dec-99 Park Place Europe * -2.60% -5.66% -5.95% -5.27% -5.66% 10.15% Jan-99 AlphaGen Acamar -2.60% -0.96% -3.19% 4.04% -0.96% 7.39% Apr-06 Exane Vauban Fund ** -2.64% -4.91% -2.47% 1.92% -4.91% 7.32% Jul-04 Sycomore L/S Opportunites - A share -2.87% -1.21% -4.60% -2.09% -1.21% 7.74% Oct-04 AlphaGen Capella Class B -2.87% -2.12% -2.31% 1.45% -2.12% 15.49% Nov-99 SGAM AI Opportunity Long Short Fund -2.92% -0.42% -4.50% 11.41% -0.42% -2.00% Dec-05 Totem Fund 2XL -2.97% -0.90% -6.65% 3.34% -0.90% 3.34% Feb-07 Maga Smaller Companies Fund -3.06% -2.34% -3.05% 4.20% -2.34% 13.57% Apr-04 TT Permal Europe Fund -3.07% -1.53% -0.79% 2.65% -1.53% 10.68% Sep-89 Henderson European Style Rotation Absolute Return Fund -3.08% -2.62% 1.86% 4.68% -2.62% 6.67% Nov-05 GAM EuroSystematic Value Hedge -3.14% -4.18% 1.57% 7.67% -4.18% 8.68% Nov-05 Henderson UK Equity Long Short Fund -3.18% 1.95% 2.71% 15.63% 1.95% 10.12% Jul-03 Selectium Europe Fund -3.24% -4.31% -0.95% 1.80% -4.31% 9.31% Jan-04 Ratio European Fund -3.29% -0.93% -4.98% 4.59% -0.93% 11.58% Feb-06 Aliseo -3.31% -3.30% 0.33% 7.43% -3.30% 10.00% Jul-05 New Star European Opportunities Hedge Fund -3.54% 0.44% 6.55% n/a 0.44% 9.40% Jun-07 Aliseo Europe -3.72% -3.84% 0.65% n/a -3.84% 4.66% May-07 AKO Fund -3.81% -3.20% -1.52% 0.84% -3.20% 12.91% Oct-05 Ennismore European Smaller Companies Hedge -4.12% -2.89% -6.89% 0.97% -2.89% 20.27% Feb-99 Moneta Long Short Fund -4.35% -1.65% -6.34% 2.24% -1.65% 3.67% Jan-07 Lansdowne European Equity Fund Class A -4.37% -5.46% -4.26% -2.75% -5.46% 13.84% Sep-98 Pepin Fund -4.46% -0.36% -6.74% -5.81% -0.36% 7.58% Jan-02 Exane Micromegas Fund ** -4.55% -4.17% -4.23% -3.88% -4.17% 5.76% Jul-06 AlphaGen Avior Class B -4.72% 1.51% -4.00% -3.48% 1.51% 7.49% Nov-01 Athena Low Volatility Fund -5.10% -1.48% -6.33% -3.34% -1.48% 4.62% Nov-01 Anak European Fund -5.12% -3.15% -7.20% -4.20% -3.15% 3.79% Sep-03 Lansdowne European Equity Fund Class B -5.18% -5.84% -4.25% -1.58% -5.84% 11.43% Nov-02 Exane Prometheus Fund ** -5.21% -4.05% -3.32% 3.49% -4.05% 6.66% Jul-04 Polar Capital Paragon Fund -5.24% -4.40% 2.24% 9.00% -4.40% 27.41% Apr-04 Marshall Wace European Tops Fund Class A (Opportunistic) -5.44% -3.90% -2.68% 2.39% -3.90% 13.78% Jan-05 GLG European Long/Short Fund Class D -5.45% -4.10% -2.39% 7.80% -4.10% 12.79% Oct-00 Kempen Property Hedge Fund - Class B -5.47% -6.64% 2.09% n/a -6.64% 6.33% Apr-07 European Pearl Fund -5.52% -1.80% -8.80% -3.96% -1.80% 7.58% Feb-01 Kempen Property Hedge Fund - Class A -5.56% -6.67% 1.89% n/a -6.67% 5.92% Apr-07 AlphaGen Octanis Class B -5.78% 1.36% -4.09% -4.46% 1.36% 9.00% Mar-05 JPM Europe Equity Market Neutral Fund -5.91% -5.37% -5.53% 1.00% -5.37% 6.43% Dec-02 Melchior European Fund -5.92% -6.60% -4.69% -3.70% -6.60% 2.22% Oct-06 FCM European Opportunities Fund -6.12% -2.96% n/a n/a -2.96% -11.37% Oct-07 Kingsway Segregated Portfolio Class A -6.35% -5.95% -6.33% -5.57% -5.95% 14.50% Mar-99 Marathon European Hedge Fund -6.55% -4.26% -5.32% -2.55% -4.26% 4.30% May-01 GAM European Equity Hedge -6.88% -3.06% -6.05% 1.00% -3.06% 9.75% Jan-99 Artemis European Hedge Fund -7.13% -4.30% -6.04% -1.70% -4.30% 7.54% Nov-01 Kairos Hedge Fund Europe Ltd -7.21% -1.82% -7.73% n/a -1.82% -13.32% May-07 RAB Europe Fund - Class A -7.25% -5.48% -3.72% 4.40% -5.48% 11.54% Nov-99 Antares European Fund * -7.33% -6.76% -7.25% 1.55% -6.76% 15.75% Dec-98 Marshall Wace European Tops Fund Class B (Fundamental) -7.87% -5.14% -3.62% 0.36% -5.14% 11.01% Jan-05 Polar Capital Forager Fund -8.09% -0.03% -3.88% 8.16% -0.03% 16.53% Aug-03 RAB UK Equity Fund - Class A* -8.48% -2.77% -7.69% 7.68% -2.77% 9.39% Oct-01 Explora European Fund -8.50% -0.10% -9.35% n/a -0.10% -17.82% Aug-07 Kairos Fund Ltd - Class A -8.63% -6.83% -6.91% -3.43% -6.83% 13.63% Jun-99 Compass Eagle Fund -8.69% -3.23% -5.13% 0.09% -3.23% 9.80% Jul-99 Mir UK Hedge Fund -8.85% -6.43% -8.70% -7.43% -6.43% 2.87% Jul-01 EV Smaller Companies Fund -9.04% -5.40% -13.75% -10.56% -5.40% 4.52% May-06 Aster-X Europe Fund -9.09% -4.13% -7.05% -5.19% -4.13% 10.96% Jun-02 Anak European Select Fund -9.12% -5.82% -12.70% -9.00% -5.82% -2.40% Mar-06 AlphaGen RhoCas Class B -9.28% -7.73% -5.62% 1.23% -7.73% 15.49% Jul-04 Egerton European Equity Fund Class A -9.34% -7.05% -4.09% 1.72% -7.05% 18.89% Oct-94 Eureka Fund -9.40% -5.79% -7.26% -3.24% -5.79% 15.75% Jan-98 Egerton European Equity Fund Class B -9.48% -7.06% -3.94% 2.26% -7.06% 19.17% Oct-94 Belvoir Premium Fund -9.52% -8.55% -8.65% n/a -8.55% -15.84% Jun-07 Egerton European Equity Fund Class C -9.59% -7.04% -3.74% 2.82% -7.04% 19.42% Oct-94 TT Long/Short Europe Fund Limited ** -9.82% -5.85% -7.25% -4.30% -5.85% 12.41% Jul-03 Nextam Fund -9.93% -5.21% -11.21% -10.36% -5.21% 3.41% Sep-01 Zebedee European Fund -10.09% -6.61% -13.79% -1.04% -6.61% 5.84% Feb-01 Thames River Tybourne Fund -10.18% -7.98% -11.51% -6.07% -7.98% 0.82% Jul-06 Insinger de Beaufort Real Estate Equity Fund -10.32% -5.14% -11.20% -15.55% -5.14% 17.81% Oct-03 Griffin European Hedge Fund ** -10.42% -5.63% -14.61% -9.03% -5.63% 7.06% Jun-04 Monsoon Value Discovery Fund -10.48% -3.03% -8.33% -11.12% -3.03% 2.07% Jul-04 Martin Currie ARF European Fund? -10.51% -5.16% -12.39% -10.31% -5.16% 6.09% Sep-05 New Star European Hedge Fund -10.59% -2.79% -14.53% -10.44% -2.79% 7.18% Oct-01 Selectium Opportunities Fund -10.91% -7.95% -10.72% -5.43% -7.95% 10.34% Oct-05 Matrix New Europe Fund -10.94% -10.33% -5.72% -0.01% -10.33% 3.38% Jan-07 Anak European Fund Leveraged -11.00% -6.61% -15.71% -11.44% -6.61% -2.91% Mar-06 Adelphi Europe Fund Class B -11.04% -8.35% -11.86% -8.90% -8.35% 12.07% Oct-97 Jupiter Ganymede Hedge Fund Ltd ** -11.25% -5.56% -9.04% -4.04% -5.56% 7.60% Apr-04 AlphaGen Tucana Class B -11.33% -7.84% -8.60% -1.58% -7.84% 15.05% Jan-05 Jupiter Europa Hedge Fund Ltd ** -11.37% -6.48% -12.63% -9.45% -6.48% 7.77% Dec-01 Euronova Smaller Companies Fund Class 2 -11.45% -6.60% -12.47% -6.07% -6.60% 9.67% Oct-00 AXA Framlington Absolute Return UK Smaller Companies -11.67% -5.05% -14.37% -7.40% -5.05% -2.92% Feb-06 Explora European Small & Mid Cap Fund -11.74% -7.40% -16.40% -6.66% -7.40% 21.52% Mar-04 Barep Condor Long Short Equity -11.77% -4.36% -9.56% -10.88% -4.36% 1.93% Dec-03 Hamton European Equities -11.80% -7.62% -13.13% -15.08% -7.62% 4.17% Jan-06 Athena Plus Fund Ltd -11.87% -3.49% n/a n/a -3.49% -33.12% Sep-07 Kingsway Plus Fund Portfolio Class A -12.02% -10.92% -12.15% n/a -10.92% -22.14% Jun-07 Reyl Absolute Return Fund -12.17% -7.98% -10.55% 5.76% -7.98% 18.91% Jan-05 Insinger de Beaufort Alchemy NV -12.41% -3.83% -21.88% -17.55% -3.83% 6.08% Jul-03 Sierra Summit Offshore Ltd* -12.57% -4.39% -14.06% -9.14% -4.39% 14.97% Nov-03 Giano Capital ** -12.67% -7.29% -11.66% -16.74% -7.29% 14.32% Nov-94 Marshall Wace Core Fund Ltd -13.00% -7.58% -11.85% -8.38% -7.58% -2.14% Nov-06 Bryan Garnier European Growth Long Short Fund ** -13.06% -2.74% -20.75% -24.27% -2.74% -9.02% Aug-06 Rhine Alpha - CHF -13.08% -5.40% -24.90% -21.76% -5.40% 12.20% May-03 Saginaw Discovery Fund -13.30% -3.00% -17.17% -13.75% -3.00% -1.10% Apr-06 Proprietary Partners Fund Ltd -13.53% -13.49% -7.43% 0.74% -13.49% 24.81% May-06 MPC Pilgrim Fund Class A -13.82% -4.81% -13.04% -9.21% -4.81% 7.37% Oct-00 Genus 15 -14.01% -7.61% -21.65% -16.04% -7.61% 1.90% Mar-05 Old Mutual UK Dynamic Equity Fund -14.34% -6.68% -10.88% -2.75% -6.68% 15.37% Jul-05 Cambrian Europe Fund Ltd -14.44% -11.11% -17.62% -14.15% -11.11% -6.02% Dec-06 GO Global Opportunities Fund -14.64% -9.53% -18.77% -12.24% -9.53% 24.74% Nov-00 Charlemagne Fund ** -14.91% -6.35% -20.19% -16.16% -6.35% 11.05% Jun-99 Custodia European Equity Fund -15.01% -10.90% -11.89% -7.79% -10.90% -1.11% Nov-06 Rock Real Estate Securities Fund -15.07% -8.14% -20.06% -18.95% -8.14% -5.00% Jul-06 S.W. Mitchell European Fund ** -15.59% -6.62% -21.02% -16.89% -6.62% 2.81% Nov-05 Matrix Europe Fund Ltd Class A -15.68% -4.80% -7.25% 4.27% -4.80% 2.11% Apr-05 SGAM AI Equisys Fund Euroland -15.70% -8.03% -20.11% -17.60% -8.03% 6.35% Jan-03 Focus Capital Investors -16.32% -8.60% -19.52% 6.19% -8.60% 56.94% Apr-05 Kkienn European Fund -16.56% -4.57% -24.46% -22.19% -4.57% -0.80% Jun-01 GAM European Small Cap Hedge -16.63% -10.65% -23.02% -11.12% -10.65% 10.99% Apr-03 SR Global Fund (Class F) Europe -16.89% -12.21% -16.04% -8.47% -12.21% 17.31% Mar-96 Day Trade Action France -17.44% -13.85% -15.48% -12.45% -13.85% -0.99% May-00 Cotton Hall European Opportunities Fund * -17.76% -11.20% -11.16% -9.63% -11.20% 3.80% Mar-00 KI Speciality Financials Fund ** -18.16% -8.15% -17.10% -17.08% -8.15% 1.81% Feb-05 Modulus Europe -20.17% -11.47% -25.27% -21.79% -11.47% 10.93% Mar-02 Aster-X Panorama Fund -21.55% -15.22% -15.10% -2.33% -15.22% 12.27% Apr-06 ProValue European Focus Class A -23.78% 18.85% -54.86% -58.59% 18.85% -13.76% Feb-04 Rhine Alpha Stars - CHF -24.92% -8.20% -40.21% -38.92% -8.20% 5.70% May-05 Adelphi European Small Cap Fund -26.80% -14.32% -27.63% -13.50% -14.32% 9.04% Jun-05 Lucerne Mid-Cap Offshore Fund * -28.27% -16.36% -30.52% -22.50% -16.36% 5.63% Mar-05 Concentric European Fund -28.81% -21.60% -33.86% -30.97% -21.60% 7.19% Dec-02 Pygar Fund -39.74% -23.56% -44.33% -45.01% -23.56% 7.75% Jan-05 European Long Short Equity NORDIC Handelsbankens Hedgefond Aktie Europa - SEK 5.59% 2.30% 2.20% 3.02% 2.30% 1.80% Nov-01 Nordic Absolute Return Fund - SEK 3.86% 3.15% 2.89% 9.24% 3.15% 11.10% Apr-03 SEB Enskilda Nordic Equity Long/Short Fund - NOK 3.77% 1.83% -2.06% -0.68% 1.83% 7.06% Jun-06 ALCUR Fund - Sek 0.69% 0.41% 2.96% 10.29% 0.41% 9.89% Jan-07 Banco Hedge - SEK 0.18% 1.00% -4.55% -3.73% 1.00% 6.22% Jan-98 Nordea European Equity Hedge Fund - SEK -0.55% -0.42% 1.74% 2.33% -0.42% 5.75% Mar-02 Catella Hedgefund - SEK -1.33% -0.79% -1.90% 1.43% -0.79% 8.16% Mar-04 Yield Fund - SEK -2.05% -1.87% -2.88% 0.01% -1.87% 5.89% Dec-02 Graal - SEK -2.20% -0.89% -3.79% -0.02% -0.89% 7.90% Jul-02 Eikos - SEK -2.29% -1.98% -3.56% -4.12% -1.98% 11.80% Jan-00 Mermaid Nordic Hedge Fund -2.46% -1.31% n/a n/a -1.31% -3.91% Sep-07 Erik Penser Hedgefond - SEK -2.57% -0.29% -4.37% -3.19% -0.29% 7.30% May-02 Gladiator Fund - SEK -3.16% -4.69% -6.71% 0.06% -4.69% 17.23% Feb-05 Adrigo Fund - SEK -3.60% -1.94% -4.60% -3.70% -1.94% 1.24% Dec-06 Graal Offensiv - SEK -5.74% -2.24% -9.88% -4.82% -2.24% 1.66% Oct-06 WR Norden - SEK -6.33% -1.60% -7.45% -7.96% -1.60% -7.96% Feb-07 STORM Nordic Fund - EUR -6.41% -4.20% -4.47% -1.63% -4.20% 4.96% Oct-06 Cicero Hedge - SEK -6.85% -6.10% -4.30% -1.72% -6.10% 2.76% Jan-01 Lancelot Camelot Fund - SEK -8.84% -8.09% -8.21% -1.16% -8.09% 15.11% Jun-03 WarrenWicklund Nordic Value Diversified* - NOK -9.59% -7.45% -9.04% -5.09% -7.45% 24.90% Aug-03 Platinum Nordic Fund - SEK* -10.65% -7.53% -11.29% -5.17% -7.53% 2.27% Jun-06 Amplus - SEK -11.07% -8.44% -14.20% -14.32% -8.44% 4.46% May-04 DLG Aktiefond - SEK -16.47% -11.07% -13.85% -2.31% -11.07% 25.56% Oct-05 Global Equity USD RAB Octane Fund - Class D* 14.75% 1.75% 14.50% 20.68% 1.75% 22.58% May-05 Sector Speculare III 9.33% -2.24% 13.36% n/a -2.24% 16.83% Mar-07 Sector Speculare II 7.87% -0.24% 14.23% 27.92% -0.24% 78.28% Dec-05 Algebris Global Financials Fund 7.53% -0.98% 10.80% 50.95% -0.98% 43.74% Oct-06 Trafalgar Capital - Trafalgar Trading Fund 7.24% 2.05% 12.63% 26.37% 2.05% 15.11% Apr-02 Vantage Horizon Fund 6.27% 0.57% 15.79% 24.15% 0.57% 13.74% Aug-98 Traderight Labrador Fund - Leveraged Class (2.5x)* 5.74% 1.13% 7.08% 9.72% 1.13% 4.88% Nov-06 AAM Absolute Return Fund 5.58% -1.04% 14.32% 16.66% -1.04% 14.03% Dec-06 TT Financials Long Short Fund ** 4.89% 1.97% 14.13% 15.86% 1.97% 11.37% Mar-06 Vantage Global Investment Fund 4.78% -1.46% 13.75% 25.77% -1.46% 12.12% Jan-96 Trafalgar Anson Fund * 4.27% 2.00% 8.45% 18.00% 2.00% 13.09% May-06 Wessex Gold Fund 3.57% 5.57% n/a n/a 5.57% 34.66% Oct-07 Traderight Labrador Global Resources Fund* 2.65% 0.63% 3.42% 6.05% 0.63% 4.08% Sep-06 IBIS Global Media Fund 2.41% 0.90% 3.47% n/a 0.90% 6.02% Jul-07 CopperTree Mustang Fund Ltd 2.32% 0.62% 9.13% 15.72% 0.62% 47.03% Jun-06 E+T Global Fund 2.26% 5.46% 10.98% n/a 5.46% 6.94% Jul-07 SR Global Fund (Class C) International 2.21% -0.30% 15.73% 44.80% -0.30% 19.96% Jan-94 Pioneer Global Long/Short Equity 1.77% 1.06% 5.37% 14.11% 1.06% 8.77% Jul-05 Cassiopeia Fund - Class B 1.76% 4.26% 7.19% 6.35% 4.26% 12.55% Jul-04 Sofaer Capital Natural Resources Hedge Fund 1.73% -0.29% 14.29% 54.98% -0.29% 64.03% Jan-06 BlueCrest Special Situations 1.05% -1.15% -5.23% 4.58% -1.15% 11.32% Oct-06 Oceanic Hedge Fund 0.92% -0.86% 2.43% 19.78% -0.86% 18.90% Aug-02 Horseman Global Fund ** 0.41% 5.55% 12.83% 41.78% 5.55% 21.73% Feb-01 Investec Global Commodities and Resources Fund 0.24% -1.35% 14.57% 39.46% -1.35% 35.94% Jan-07 Tenax Financial Fund -0.97% -0.59% -0.36% 1.33% -0.59% 9.90% Feb-05 Monza Fund -1.48% -3.45% -1.48% n/a -3.45% 3.43% Mar-07 Ecofin Special Situations Utilities Fund -1.68% -2.36% 3.36% 16.14% -2.36% 14.26% May-06 BlackRock Natural Resources Hedge Fund ** -2.20% -1.16% 4.14% 16.66% -1.16% 13.66% Dec-03 UC Financials Fund Class A -2.84% 0.27% -3.06% -4.23% 0.27% 11.90% Mar-04 Martin Currie ARF Global Energy Fund -3.07% -1.62% -1.96% n/a -1.62% 6.41% Mar-07 Rutherglen Capital Global Media Fund -3.23% -0.74% -0.85% -2.00% -0.74% 4.86% Aug-03 Martin Currie ARF Global Financials Fund -3.40% -7.50% -2.25% -0.49% -7.50% 3.60% Jun-06 Ecofin Global Utilities Hedge Fund -3.46% -3.18% 0.37% 10.18% -3.18% 16.61% Oct-04 GATKO Global Opportunities Fund -3.66% 0.28% -0.94% 6.79% 0.28% 11.41% Feb-05 Sector Maritime Investments -3.78% -4.59% -5.27% -0.38% -4.59% 12.17% Jan-00 Artemis Global Hedge Fund -4.09% -4.90% -1.38% 15.93% -4.90% 9.31% Jul-06 AlphaGen Aldebaran Class A -4.32% -7.79% 1.61% 12.05% -7.79% 15.35% Mar-05 AlphaGen Aldebaran Class C - JPY -4.44% -7.47% 0.42% 8.71% -7.47% 11.70% Mar-05 Tosca -5.06% -7.17% 0.97% 9.84% -7.17% 15.77% Oct-00 Halbis Global Technology Alpha Fund -5.15% -1.82% -3.47% 4.42% -1.82% 6.02% Sep-05 Threadneedle Global Crescendo Fund -5.18% -8.36% -0.51% 2.85% -8.36% 10.40% Apr-05 Marshall Wace TOPS Fund Class M New Issue(Global) -5.64% -4.01% -0.96% n/a -4.01% 4.79% May-07 Martin Currie ARF Global Resources Fund -5.65% -3.47% -3.93% 5.53% -3.47% 16.29% Oct-03 GLG Technology Fund Class A -5.74% 0.67% 4.22% 19.11% 0.67% 10.47% Jan-03 Clarkson Shipping Hedge Fund -5.83% -0.51% 0.95% 28.22% -0.51% 19.42% May-06 Headstart Global Aggressive Fund* -5.96% -3.11% -4.70% 7.79% -3.11% 22.95% Mar-99 ZA International Fund Ltd Class A -6.03% -5.62% -3.02% 9.25% -5.62% 12.34% Jan-06 Headstart Global Fund* -6.10% -3.34% -6.13% 5.16% -3.34% 15.15% Jul-98 Strategic Blue Star Resources Fund -6.23% -0.91% 6.30% 20.33% -0.91% 25.45% Sep-06 GAM International Equity Hedge -6.46% -5.06% 4.23% 12.73% -5.06% 8.34% May-04 Bruce Nelson Global Fund -6.51% -2.40% -5.95% 1.64% -2.40% 6.20% Jun-03 Polar Capital Global Utilities Absolute Return Fund -6.74% -8.00% -1.66% 5.45% -8.00% 4.49% Nov-05 Duet Global Special Situations Fund -6.89% -6.97% -4.88% n/a -6.97% -6.39% Jun-07 Wessex Natural Resources Fund -7.02% -4.68% 3.58% 19.09% -4.68% 22.87% May-04 GLG Consumer Fund Class A -7.11% -1.20% -2.67% -4.19% -1.20% 10.93% Nov-05 Oceanic Energy Fund -7.67% -5.06% -7.09% -4.57% -5.06% 4.60% Mar-06 Sofaer Capital Global Hedge Fund -7.69% -4.62% -6.15% 5.15% -4.62% 11.26% Jul-87 Wessex Global Water Fund -8.10% -4.78% -9.53% -2.45% -4.78% -1.90% Jan-07 Cazenove Worldwide Absolute Return Fund -8.15% -4.02% -0.47% 9.03% -4.02% 7.93% Jun-06 Lansdowne Global Financials -8.17% -7.38% 7.35% 18.60% -7.38% 25.96% Jul-04 Real Return Global Fund -8.23% -8.15% -1.76% 1.47% -8.15% 9.28% Sep-05 NPJ Global Opportunities Fund -9.09% -1.10% -4.99% 6.78% -1.10% 14.40% Jul-06 New Star Financials Hedge Fund -9.30% -2.89% -9.65% -6.00% -2.89% 14.13% Apr-02 AXA Framlington Absolute Return Gemini Worldview ** -9.33% -4.26% 2.22% n/a -4.26% 7.36% Apr-07 Perinvest Dividend Equity Fund * -9.47% -8.50% -8.79% 11.37% -8.50% 15.21% Jan-04 Orn Global Resources and Energy Fund * -9.57% 1.03% -11.03% 0.36% 1.03% 9.02% Sep-04 Abbey Global LP* -10.24% -4.96% -0.70% 1.57% -4.96% 14.70% May-02 Parus Fund -10.52% -11.71% 2.54% 22.29% -11.71% 19.23% Dec-02 Resolution Hexam Global Resources Absolute Return Fund -10.90% -8.25% 10.72% 13.36% -8.25% 18.32% Sep-06 RAB Innovations Fund - Class B* -11.09% -7.07% -26.91% -21.01% -7.07% -3.75% Jan-06 Longview Opportunities Fund -12.26% -10.43% -7.76% -0.57% -10.43% 8.78% Jul-03 Elysian Natural Resource Fund -12.58% -9.60% -0.34% 44.96% -9.60% 46.32% Jul-05 Cheyne Global Catalyst Fund -12.91% -15.11% -11.92% 7.94% -15.11% 9.99% Apr-06 Guinness Energy Fund -14.32% -13.86% -5.18% 4.04% -13.86% 6.46% Jul-06 Volteq GED Long Short Equity Fund * -15.27% -4.45% -16.10% 9.75% -4.45% 6.88% Apr-06 Cal Global Hedge -16.10% -4.63% 4.62% -6.82% -4.63% 11.74% May-04 SR Phoenicia (Class B) Carthaginian -17.75% -12.71% -4.91% 18.66% -12.71% 21.04% Sep-05 RAB Special Situations * ** -17.94% -8.42% -18.16% -1.89% -8.42% 103.25% Jan-03 SR Phoenicia (Class A) Phoenicia -18.38% -12.29% -1.89% 27.48% -12.29% 32.66% Aug-01 GLG Financials Fund Class A -18.82% -17.40% -5.32% -2.15% -17.40% 9.69% Jul-02 RAB Energy Fund - Class B* ** -19.41% -13.32% -20.84% -9.58% -13.32% 27.65% Jun-04 Inflection Point Investments -19.99% -15.09% -16.98% n/a -15.09% -25.47% Jul-07 Naissance Healthcare Fund -24.69% -6.47% -8.59% -11.57% -6.47% 4.74% Nov-04 Naissance Beagle Fund -27.10% -12.27% -11.50% -2.75% -12.27% 7.52% Apr-06 Global Equity GBP Trafalgar Capital - Trafalgar Trading Fund 7.61% 2.11% 12.95% 26.71% 2.11% 14.16% Oct-03 Starcross Capital Limited - Class C* 6.00% -3.00% 4.03% 0.73% -3.00% 9.25% Oct-02 CopperTree Mustang Fund Ltd 5.73% 0.52% 10.18% 14.70% 0.52% 44.26% Jun-06 Tenax Financial Fund 3.84% 1.07% 4.21% 5.76% 1.07% 11.47% Feb-05 BlueCrest Special Situations 1.31% -1.03% -4.84% 5.08% -1.03% 7.10% Jan-07 BlackRock Natural Resources Hedge Fund ** -2.04% -1.14% 4.31% 16.93% -1.14% 14.44% Dec-03 Polar Capital Global Utilities Absolute Return Fund -6.47% -7.92% -1.32% 5.82% -7.92% 4.46% Nov-05 Real Return Global Fund -6.60% -8.15% -0.92% 2.29% -8.15% 7.42% Jul-04 Lansdowne Global Financials -7.61% -7.21% 7.79% 18.53% -7.21% 26.44% Jul-04 AXA Framlington Absolute Return Gemini Worldview ** -9.19% -4.19% 2.45% n/a -4.19% 7.57% Apr-07 Resolution Hexam Global Resources Absolute Return Fund -10.68% -8.66% 12.64% 15.12% -8.66% 18.70% Sep-06 Inflection Point Investments -19.66% -15.00% -16.53% n/a -15.00% -24.77% Jul-07 Global Equity EUR RAB Octane Fund - Class C* 14.36% 1.53% 14.10% 20.16% 1.53% 21.69% May-05 Sector Speculare III - NOK 9.70% -2.23% 13.42% n/a -2.23% 16.31% Mar-07 Sector Speculare III 9.28% -2.36% 12.77% n/a -2.36% 15.62% Mar-07 Sector Speculare II - NOK 8.03% -0.19% 14.18% 27.36% -0.19% 74.18% Dec-05 Sector Speculare II 7.68% -0.35% 13.59% 26.68% -0.35% 74.07% Dec-05 Algebris Global Financials Fund 7.10% -1.10% 9.73% 48.07% -1.10% 41.57% Oct-06 Trafalgar Capital - Trafalgar Trading Fund 7.01% 1.99% 12.09% 25.22% 1.99% 12.68% May-04 AAM Absolute Return Fund - NOK 5.78% -0.89% 14.38% 16.02% -0.89% 15.25% Dec-05 TT Financials Long Short Fund ** 4.73% 1.92% 13.33% 14.39% 1.92% 9.84% Mar-06 Trafalgar Anson Fund * 4.01% 2.00% 7.66% 16.25% 2.00% 11.33% May-06 Pioneer Global Long/Short Equity 1.56% 0.97% 4.74% 13.08% 0.97% 7.23% Jul-05 BlueCrest Special Situations 1.45% -1.18% -5.62% n/a -1.18% -2.69% May-07 Cassiopeia Fund - Class C 1.32% 3.74% 6.25% 4.67% 3.74% 11.38% Jul-04 Cassiopeia Fund - Class A (CHF) 1.08% 3.67% 5.68% 3.85% 3.67% 13.18% Jul-03 Cassiopeia Fund - Class D (CHF) 0.91% 3.62% 5.60% 3.20% 3.62% 10.02% Jul-04 Horseman Global Fund ** 0.27% 5.40% 11.69% 39.05% 5.40% 20.88% Feb-01 CopperTree Mustang Fund Ltd -0.04% -1.07% 1.68% 4.63% -1.07% 37.68% Jun-06 Tenax Financial Fund -1.09% -1.17% -0.73% 0.74% -1.17% 9.68% Feb-05 BlackRock Natural Resources Hedge Fund ** -2.37% -1.25% 3.42% 15.07% -1.25% 12.58% Dec-03 RAM One - SEK -2.45% 0.26% -3.20% 4.75% 0.26% 6.68% Nov-02 Brummer & Partners Zenit Fund - SEK -2.76% -2.22% -5.71% -1.25% -2.22% 21.15% Jul-96 Brummer & Partners Manticore - SEK -2.77% 0.35% 1.51% 1.65% 0.35% 4.48% Jan-01 UC Financials Fund Class A -3.15% 0.23% -3.77% -5.60% 0.23% 10.86% Mar-04 Martin Currie ARF Global Energy Fund -3.31% -1.69% -2.55% n/a -1.69% 5.11% Mar-07 Martin Currie ARF Global Financials Fund -3.62% -7.53% -2.70% -1.57% -7.53% 2.25% Jun-06 Carnegie WorldWide Long/Short Fund -3.84% -6.20% -0.46% 7.16% -6.20% 14.74% Jun-03 Sector Maritime Investments - NOK -3.86% -4.75% -5.42% -1.05% -4.75% 13.93% Dec-99 DWS Hedge L/S Equity Opportunistic -3.91% -3.52% -3.29% -0.50% -3.52% 7.83% Feb-05 Sector Maritime Investments -4.00% -4.70% -5.77% -1.58% -4.70% 12.87% Jan-00 AlphaGen Aldebaran Class B -4.50% -7.86% 1.07% 10.80% -7.86% 13.93% Mar-05 Threadneedle Global Crescendo Fund -5.20% -8.32% -1.00% 1.75% -8.32% 8.91% Apr-05 Halbis Global Technology Alpha Fund -5.39% -1.89% -4.12% 3.01% -1.89% 4.33% Sep-05 DWS SÜDPROJEKT Fund Market Neutral -5.50% 1.01% -6.38% -5.61% 1.01% 6.21% Nov-05 True North Global Opportunities Class B -5.50% 0.44% -5.70% -8.10% 0.44% 0.12% Mar-05 Marshall Wace TOPS Fund Class M New Issue(Global) o -5.80% -4.09% -1.38% n/a -4.09% 3.92% May-07 GLG Technology Fund Class D -5.81% 0.64% 3.85% 17.93% 0.64% 11.52% Jun-02 Kairos Hedge Fund* -5.84% -1.34% -6.30% -3.98% -1.34% 4.18% Jul-02 Martin Currie ARF Global Resources Fund -5.91% -3.54% -4.56% 4.09% -3.54% 18.15% Jan-05 Thyra Fund - SEK -6.02% -0.80% -2.78% 6.60% -0.80% 7.01% Nov-06 ZA International Fund Ltd Class A -6.07% -5.59% -3.50% 7.94% -5.59% 10.57% Jan-06 Altos -6.19% -12.13% -1.11% 20.83% -12.13% 16.67% Oct-03 Bruce Nelson Global Fund -6.55% -2.34% -6.35% 0.45% -2.34% 5.47% Jun-03 Strategic Blue Star Resources Fund -6.58% -1.16% 5.05% 17.96% -1.16% 22.91% Sep-06 Polar Capital Global Utilities Absolute Return Fund -6.77% -7.95% -2.10% 4.37% -7.95% 2.94% Nov-05 Duet Global Special Situations Fund -6.89% -7.03% -5.07% n/a -7.03% -6.68% Jun-07 GLG Consumer Fund Class D -7.22% -1.27% -3.45% -5.55% -1.27% 9.08% Nov-05 Lansdowne Global Financials -8.16% -7.30% 5.90% 15.88% -7.30% 24.14% Jul-04 LOYS Global MH -8.45% -5.82% -13.68% -3.37% -5.82% 1.44% Feb-06 GLG Global Utilities Fund Class D -8.79% -5.21% -6.01% -3.51% -5.21% 7.62% Dec-05 Perinvest Dividend Equity Fund * -9.53% -8.60% -9.89% n/a -8.60% -11.23% Jul-07 AXA Framlington Absolute Return Gemini Worldview ** -9.54% -4.44% 1.75% n/a -4.44% 6.40% Apr-07 Parus Fund -10.53% -11.64% 2.13% 21.12% -11.64% 11.84% Jan-02 RAB Innovations Fund - Class A* -10.95% -7.04% -26.82% -20.94% -7.04% -3.79% Jan-06 Resolution Hexam Global Resources Absolute Return Fund -11.25% -8.52% 9.50% 12.81% -8.52% 17.28% Sep-06 Cheyne Global Catalyst Fund -12.88% -15.03% -12.37% 6.73% -15.03% 8.33% Apr-06 Volteq GED Long Short Equity Fund * -15.21% -4.50% -16.53% 8.37% -4.50% 6.81% Sep-05 HealthInvest Global Long/Short Fund - SEK -15.51% 3.07% -22.78% -41.21% 3.07% -28.74% Nov-06 Vltava Fund SICAV - CZK -16.19% -5.40% -10.09% 3.33% -5.40% 17.93% Sep-04 RAB Special Situations * ** -17.86% -8.36% -18.20% -2.07% -8.36% 19.94% Feb-05 GLG Financials Fund Class D -18.71% -17.14% -5.87% -3.31% -17.14% 9.38% Jun-02 RAB Energy Fund - Class A* ** -19.10% -13.19% -20.31% -9.13% -13.19% 27.57% Jun-04 Inflection Point Investments -19.81% -14.91% -16.81% n/a -14.91% -25.28% Jul-07 Naissance Healthcare Fund -24.78% -6.45% -9.42% -10.76% -6.45% 4.30% Nov-04 Naissance Beagle Fund -26.96% -12.10% -12.68% -4.05% -12.10% 6.73% Apr-06 US Equity Strand US Fund* 6.46% 4.39% 8.82% 19.06% 4.39% 13.62% Feb-02 LIF US Equity Plus - Class A USD 2.74% 0.95% 4.95% 10.20% 0.95% 10.76% Oct-05 Defender Limited - Class B1 USD 2.64% 1.02% 4.69% n/a 1.02% 7.20% May-07 LIF US Equity Plus - Class B EUR 2.63% 0.93% 4.54% 8.94% 0.93% 8.83% Oct-05 LIF US Equity Plus - Class C USD 2.61% 0.91% 4.69% 9.65% 0.91% 10.20% Oct-05 LIF US Equity Plus - Class D EUR 2.47% 0.87% 4.20% 8.17% 0.87% 8.20% Oct-05 Defender Limited - Class B1 EUR 2.34% 0.90% 4.03% n/a 0.90% 5.86% May-07 Dexia Long Short US Equity 1.12% 0.70% -0.14% 2.90% 0.70% 2.42% Jan-06 Concordia Global Equity Market Neutral Fund - Class F* -1.82% -2.95% -4.49% 0.01% -2.95% 3.87% Jul-06 Mariner Fund Class 1 - GBP -2.01% -2.83% 0.28% 2.02% -2.83% 5.78% Oct-04 Mariner Fund Class 1 - USD -2.25% -2.89% 0.00% 1.77% -2.89% 8.85% Jan-00 Mariner Fund Class 1 - EUR -2.44% -2.95% -0.61% 0.33% -2.95% 1.20% Oct-02 Hamton U.S. Hedge -3.77% -0.10% -19.43% -16.19% -0.10% -2.28% May-02 Threadneedle American Crescendo Fund - USD (Eligible) -3.98% -5.28% 2.89% 21.50% -5.28% 19.15% Jun-04 Threadneedle American Crescendo Fund - EUR (Eligible) -4.17% -5.32% 2.21% 19.95% -5.32% 17.88% Jun-04 Ecofin North American Utilities Hedge Fund -4.73% -1.89% 0.17% n/a -1.89% 0.35% Aug-07 Mariner Plus - GBP -5.75% -7.24% -2.16% -0.45% -7.24% 2.81% Jan-06 Mariner Plus - USD -6.01% -7.29% -2.47% -0.80% -7.29% 5.19% Apr-05 Mariner Plus - EUR -6.12% -7.32% -2.80% -1.72% -7.32% 0.10% May-06 GLG North American Opportunity Fund Class A - USD -9.59% -4.55% -11.97% -8.73% -4.55% 7.22% Jan-02 GLG North American Opportunity Fund Class D - EUR -9.63% -4.59% -12.04% -9.23% -4.59% 6.83% Apr-02 Custodia North American Equity Fund -10.34% -10.20% -5.50% -2.97% -10.20% 1.48% Nov-06 Hamton U.S. Equities -13.71% -9.68% -24.85% -19.25% -9.68% 3.75% Feb-02 De Lisle Fund -17.69% -9.54% -9.43% -7.76% -9.54% 8.78% Jul-05 Equity Market Neutral & Quantitative Strategies USD GLC Diversified Fund Ltd ** 9.15% 4.05% 23.74% 26.28% 4.05% 14.73% Jan-98 Old Mutual Global Statistical Arbitrage Fund 7.10% 4.56% 8.67% n/a 4.56% 7.68% May-07 IKOS Equity Hedge Fund* 5.95% 1.66% 19.99% 21.80% 1.66% 13.44% Aug-98 GLC Gestalt Europe Fund Ltd ** 5.11% 2.62% 7.24% 9.58% 2.62% 10.01% Aug-99 Abaco Financials Market Neutral Fund 4.44% 3.80% 6.11% 12.98% 3.80% 9.02% Jun-03 Stoneware Global Equities Fund 3.49% -0.20% 2.62% 10.62% -0.20% 5.22% Aug-06 Halbis European Alpha Fund 2.66% 0.60% 6.02% 10.74% 0.60% 9.05% Sep-04 BlueMatrix 2.62% 2.06% n/a n/a 2.06% 10.89% Nov-07 Duet Global Opportunities Fund 2.39% -0.35% 5.99% 11.83% -0.35% 9.98% Jan-03 Coriolis Mistral Fund 2.21% 2.22% 3.73% 12.19% 2.22% 3.49% Jul-05 Robeco Global Long Short Quant 2.21% -0.30% 1.59% 8.08% -0.30% 7.36% Dec-05 Halbis European Alpha Fund - JPY 1.64% 0.24% 3.85% 6.36% 0.24% 5.93% Jul-04 GSA Capital International Fund * 1.42% 0.79% 3.78% 7.37% 0.79% 10.08% Mar-05 Sector Healthcare 1.16% -0.82% 5.22% 12.01% -0.82% 13.41% Sep-05 Old Mutual European Statistical Arbitrage Fund * 0.90% 1.03% 4.53% 2.45% 1.03% 6.29% May-06 EquiTech Relative Value Arbitrage Fund Limited 0.71% 1.18% 1.73% n/a 1.18% 2.63% Jun-07 Aspect European Equity Fund -0.05% 0.26% 0.30% 4.80% 0.26% 6.41% Oct-99 Dynamic Decisions Growth Premium * -0.28% 0.20% 1.73% 5.72% 0.20% 7.66% Jan-05 Old Mutual Al Saqr Fund -0.61% 1.59% -10.82% n/a 1.59% -10.90% Apr-07 Dynamic Decisions Growth Premium Levered * -1.03% 0.17% 1.79% n/a 0.17% 7.19% Mar-07 Pioneer Long/Short European Equity -1.18% 1.07% 1.25% 7.96% 1.07% 7.05% Apr-02 Coolum Fund -1.24% 0.57% -7.54% -12.87% 0.57% 2.05% Oct-02 Sabre Style Arbitrage Fund -1.54% -1.71% 4.56% 8.67% -1.71% 9.98% Aug-02 Anaxis Sabre Style Arbitrage Fund * -1.80% -2.06% 5.83% 10.80% -2.06% 13.79% Dec-06 Concordia Capital Ltd., Class F* -1.82% -2.95% -4.49% 0.01% -2.95% 6.19% Mar-99 OCIM Market Neutral Equity Fund* -2.01% -6.20% -0.07% -0.97% -6.20% 4.78% May-02 AlphaGen Regulus Class A -3.35% 0.57% -10.36% -6.03% 0.57% 5.83% Nov-04 Sector CogniMetrica -3.40% -3.81% -5.21% -0.01% -3.81% 8.71% Jul-04 AlphaGen Regulus Class C - JPY -4.33% 0.18% -12.86% -10.36% 0.18% 2.15% Nov-04 Aspect Global Equity Fund -4.54% -2.77% -5.91% -0.70% -2.77% 2.18% Jul-06 WestHarbor Event Driven Fund -4.67% -2.62% -6.41% -2.80% -2.62% 6.50% Feb-04 CGP Capital Gain Perspective Ltd -4.72% -10.29% 10.24% n/a -10.29% 21.52% Aug-07 NYLIM European Equity Market Neutral Fund LP -5.75% -3.25% -5.25% 4.57% -3.25% 7.91% Oct-06 Trafalgar Capital - Trafalgar Fund Class A -6.23% -2.92% -9.35% -7.47% -2.92% 4.26% Nov-01 Old Mutual Global Sector Opportunities Fund -8.15% -5.54% -14.45% -11.53% -5.54% -4.47% May-06 Old Mutual Global Equity Market Neutral Fund -8.37% -2.37% -12.29% -7.32% -2.37% 5.09% Dec-01 Old Mutual Gem Plus Fund -13.26% -4.22% -22.40% -14.26% -4.22% 6.72% May-03 Equity Market Neutral & Quantitative Strategies GBP Old Mutual Global Statistical Arbitrage Fund 7.38% 4.71% 9.21% n/a 4.71% 8.65% May-07 Stoneware Global Equities Fund 3.91% 0.22% 2.95% 10.94% 0.22% 5.47% Aug-06 Martin Currie ARF UK Fund? 3.16% 0.46% 9.15% 13.60% 0.46% 12.68% Jan-05 BlueMatrix 2.85% 2.15% n/a n/a 2.15% 11.91% Nov-07 GSA Capital International Fund * 2.03% 0.88% 4.49% 8.20% 0.88% 10.74% Mar-05 Old Mutual European Statistical Arbitrage Fund * 1.16% 1.09% 4.92% 3.09% 1.09% 6.42% May-06 EquiTech Relative Value Arbitrage Fund Limited 0.94% 1.29% 2.31% n/a 1.29% 1.35% Jun-07 Trafalgar Capital - Trafalgar Fund Class C -6.01% -2.83% -9.09% -7.18% -2.83% 5.32% Nov-01 Old Mutual Global Sector Opportunities Fund -7.99% -5.46% -14.20% -11.30% -5.46% -4.47% May-06 Old Mutual Global Equity Market Neutral Fund -8.35% -2.33% -12.10% -7.13% -2.33% 4.18% Aug-03 Old Mutual Gem Plus Fund -13.20% -4.21% -22.20% -14.06% -4.21% 6.76% May-03 Equity Market Neutral & Quantitative Strategies EUR Old Mutual Global Statistical Arbitrage Fund 7.12% 4.55% 8.34% n/a 4.55% 6.99% May-07 Farringdon Alpha One 6.39% -1.47% 0.39% 13.99% -1.47% 11.54% Dec-06 GLC Gestalt Europe Fund Ltd ** 4.90% 2.54% 6.79% 8.67% 2.54% 9.58% Aug-99 Abaco Financials Market Neutral Fund 4.32% 3.67% 5.82% 12.00% 3.67% 8.41% Jun-03 OKO Equity Hedge 3.68% 3.48% 0.22% 1.40% 3.48% 7.90% May-05 Stoneware Global Equities Fund 3.62% 0.25% 2.41% 9.79% 0.25% 4.09% Aug-06 Swiss Alpha Strategies Fund 2.97% 1.00% 4.85% -0.44% 1.00% 2.46% Nov-06 BlueMatrix 2.52% 2.03% n/a n/a 2.03% 10.45% Nov-07 Halbis European Alpha Fund 2.48% 0.54% 5.44% 9.46% 0.54% 7.86% Jan-03 Ecofi Neuronal Long/Short Fund 2.24% 1.03% 2.03% -7.57% 1.03% -4.15% Sep-06 Duet Global Opportunities Fund 2.22% -0.45% 4.96% 10.08% -0.45% 9.10% Jan-03 Brummer & Partners Archipel Fund - SEK 1.77% -0.24% -1.37% -6.07% -0.24% -5.50% Jan-07 Ventus Statistical Arbitrage Program* 1.62% -1.29% 1.11% -6.73% -1.29% 5.50% Jul-01 GSA Capital International Fund * 1.62% 0.75% 3.62% 6.60% 0.75% 8.74% Mar-05 Sector Healthcare - NOK 1.28% -0.75% 4.99% 10.90% -0.75% 11.82% Sep-05 Old Mutual European Statistical Arbitrage Fund * 0.89% 1.23% 4.25% 1.60% 1.23% 4.95% May-06 Sector Healthcare 0.68% -1.14% 4.28% 9.63% -1.14% 11.19% Sep-05 Equitech Relative Value Arbitrage Fund Limited 0.55% 1.18% 1.55% n/a 1.18% 0.96% Jun-07 Dynamic Decisions Growth Premium * 0.03% 0.28% 1.45% 3.94% 0.28% 5.83% Jan-05 DWS Hedge L/S Equity Market Neutral -0.24% -1.43% -0.56% -0.46% -1.43% 6.93% Sep-04 BBVA & Partners Equity Arbitrage Master -0.45% 0.11% 0.03% 4.46% 0.11% 6.57% Dec-00 Day Trade Equity Neutral -0.73% -0.15% -0.11% 1.77% -0.15% 2.66% Mar-03 Coolum Fund -1.23% 0.59% -7.07% -12.68% 0.59% 2.26% Oct-02 Dynamic Decisions Growth Premium Levered * -1.40% 0.25% 0.76% n/a 0.25% 5.50% Mar-07 Pioneer Long/Short European Equity -1.43% 0.97% 0.66% 6.70% 0.97% 6.51% Apr-02 Anaxis Sabre Style Arbitrage Fund * -1.83% -2.06% 5.39% 9.56% -2.06% 12.52% Dec-06 Sabre Style Arbitrage Fund -1.85% -1.80% 3.43% 6.63% -1.80% 9.42% Aug-02 T.O.P.Q.I.M. Systematic Equity Fund SPC -2.18% -0.80% -3.27% n/a -0.80% -6.25% Apr-07 Carmignac Market Neutral Fund -2.22% -4.34% 2.69% 5.04% -4.34% 4.85% Dec-06 Sector CogniMetrica -3.48% -3.86% -5.57% -1.15% -3.86% 7.49% Jul-04 AlphaGen Regulus Class B -3.48% 0.50% -10.84% -7.07% 0.50% 4.68% Nov-04 Systeia Equity Quant Program -3.87% 0.00% -2.11% 8.52% 0.00% 6.11% Jan-03 WestHarbor Event Driven Fund -4.79% -2.69% -6.82% -3.83% -2.69% 5.65% Feb-04 Trafalgar Capital - Trafalgar Fund Class B -6.36% -2.95% -10.06% -8.75% -2.95% 3.91% Nov-01 Tungsten ERV Fund -7.33% -5.59% -1.97% 8.28% -5.59% 10.12% Oct-06 Old Mutual Global Sector Opportunities Fund -8.26% -5.55% -14.96% -12.61% -5.55% -5.76% May-06 Old Mutual Global Equity Market Neutral Fund -8.56% -2.42% -12.75% -8.37% -2.42% 2.86% Aug-03 Old Mutual Gem Plus Fund -12.66% -3.68% -22.10% -14.46% -3.68% 6.08% May-03 Event Driven USD Shelter Island Offshore Fund 4.60% 4.69% 2.02% 9.61% 4.69% 13.53% Oct-03 RAB Cross Europe Fund Class A * 4.49% 2.73% -0.85% 5.66% 2.73% 9.37% Nov-98 Albion Fund 3.47% 1.94% -3.22% 3.63% 1.94% 6.91% Sep-05 York European Focus Fund 3.11% -1.60% 4.33% 14.51% -1.60% 15.41% Jan-07 Trafalgar Catalyst Fund Series B* 1.70% 2.50% 7.47% 17.00% 2.50% 12.71% Nov-01 GLG European Opportunity Fund Class A 1.66% 3.22% 5.81% 14.56% 3.22% 10.10% Apr-02 NewSmith European Fund 1.49% 0.97% 2.78% n/a 0.97% 4.15% Jun-07 Altima Global Special Situations Fund * ** 1.41% -1.53% 11.35% 23.37% -1.53% 18.26% Jan-02 York European Opportunities Fund 0.80% -1.10% 2.03% 8.01% -1.10% 16.60% Jan-04 Omni Global Fund 0.57% 2.52% 14.11% 27.87% 2.52% 25.06% May-01 Carrousel Fund -0.01% 1.74% 0.52% 5.40% 1.74% 11.04% May-01 Copenhagen Capital Opportunities Fund -0.61% 2.36% 2.00% 4.57% 2.36% 8.49% Jan-06 AlphaPrime -1.08% -0.73% -0.14% 1.73% -0.73% 3.57% Oct-05 Trafalgar Special Situations Fund * -1.36% 2.73% 1.03% n/a 2.73% 2.07% Aug-07 Copenhagen Capital Lindos Fund -2.93% 2.41% 0.63% 3.97% 2.41% 10.39% Jul-06 Cumulus Weather Fund 1* -3.08% 0.08% -10.59% 3.10% 0.08% 13.21% Oct-05 Cheyne Special Situations * -3.24% 1.10% -1.98% 0.29% 1.10% 15.76% May-03 PSAM Europe Fund LP -5.15% -0.90% -4.08% n/a -0.90% -7.99% Aug-07 Elgin Opportunities Fund* -7.07% -1.83% -7.40% -3.92% -1.83% 7.41% Mar-06 TT Event-Driven Fund ** -7.88% -4.55% -5.31% -3.35% -4.55% 11.03% Apr-05 Henderson Special Situations Fund * -7.94% -3.07% -8.20% -9.17% -3.07% -3.53% Sep-06 Audley European Opportunities Fund Ltd * -8.03% -9.50% -12.72% 8.71% -9.50% 23.19% Nov-05 GLG Event Driven Fund Class A -10.69% -4.67% -10.16% -11.63% -4.67% -4.23% May-06 Channel Bridge Special Situations Fund -11.14% -5.22% -11.42% -2.71% -5.22% 13.85% Jun-06 Coudree Capital Global Equity Fund -20.68% -16.69% -21.75% -17.53% -16.69% 1.70% Jul-06 MarCap Partners LP -22.54% -13.84% -27.36% -16.89% -13.84% 3.93% Jul-05 MarCap Overseas, Ltd -22.55% -13.84% -27.39% -16.84% -13.84% 12.14% Jun-04 Event Driven EUR RAB Cross Europe Fund Class C * 4.38% 2.70% -1.28% 4.58% 2.70% 9.00% Nov-98 Deephaven European Event Driven Fund Ltd 3.87% 2.94% 16.43% n/a 2.94% 45.62% Jun-07 Albion Fund 3.29% 2.03% -3.66% 2.10% 2.03% 5.10% Sep-05 GLG European Opportunity Fund Class D 1.69% 3.07% 5.49% 13.58% 3.07% 9.71% Jan-02 Trafalgar Catalyst Fund Series D* 1.58% 2.50% 6.77% 15.44% 2.50% 12.83% Mar-02 NewSmith European Fund 1.37% 0.94% 2.39% n/a 0.94% 3.53% Jun-07 Altima Global Special Situations Fund * ** 1.10% -1.53% 10.12% 20.94% -1.53% 19.40% Dec-02 NATIXIS European Events -0.55% 1.97% 0.33% 5.21% 1.97% 8.30% Aug-03 Copenhagen Capital Opportunities Fund -0.74% 2.20% 1.12% 3.44% 2.20% 7.51% Jan-06 WestHarbor Event Driven Plus Fund -0.85% -1.31% -1.81% 4.30% -1.31% 8.08% Dec-06 AlphaPrime -1.26% -0.81% -0.42% 0.73% -0.81% 2.04% Oct-05 RFS Active Strategies Fund -1.34% -1.57% -5.61% -4.45% -1.57% 1.96% Jun-06 Trafalgar Special Situations Fund * -1.58% 2.87% 0.48% n/a 2.87% 0.96% Aug-07 Cheyne Special Situations * -3.24% 1.10% -2.61% -0.92% 1.10% 15.32% Jun-03 Dexia Long Short Risk Arbitrage -4.28% 1.01% -3.85% -4.45% 1.01% 5.39% Mar-99 Systeia Event Driven Program -4.58% -2.89% -1.38% -0.48% -2.89% 2.81% Apr-02 PSAM Europe Fund Ltd -4.95% -0.86% -3.62% n/a -0.86% -8.20% Jul-07 ABCA Arbitrage Opportunities Fund plc ** -6.74% -6.17% -0.74% n/a -6.17% -1.48% Aug-07 Barep Protea -6.99% -1.48% -11.21% -8.05% -1.48% 3.52% Mar-00 Barep Achillea -7.60% -2.08% -11.14% -7.07% -2.08% 2.31% Jul-01 TT Event-Driven Fund ** -7.85% -4.54% -5.55% -4.14% -4.54% 11.38% May-04 Henderson Special Situations Fund * -7.99% -3.10% -8.56% -10.10% -3.10% -4.68% Sep-06 Audley European Opportunities Fund Ltd * -10.09% -10.70% -18.43% -2.69% -10.70% 11.29% Aug-05 GLG Event Driven Fund Class D -10.76% -4.75% -10.60% -12.53% -4.75% -5.38% May-06 Channel Bridge Special Situations Fund -11.11% -5.10% -11.66% -3.58% -5.10% 12.54% Jun-06 GoldenPeaks Active Value Fund -15.72% -9.62% -13.29% -3.43% -9.62% 3.55% Dec-06 Coudree Capital Global Equity Fund -20.57% -16.54% -21.96% -18.14% -16.54% 0.74% Jul-06 Event Driven GBP NewSmith European Fund 1.71% 1.03% 3.10% n/a 1.03% 4.85% Jun-07 Cheyne Special Situations * -3.24% 1.10% -2.24% 0.19% 1.10% 12.97% Feb-05 Helium Special Situations Fund -14.72% -1.92% -21.92% 4.44% -1.92% 32.06% Aug-06 Convertible & Equity Arbitrage USD Lionhart Global Appreciation Europe * 8.65% 8.32% 30.68% 53.98% 8.32% 14.36% Oct-99 Concordia Capital Ltd., Class B* 4.30% 2.10% 4.38% 5.83% 2.10% 6.65% Mar-98 Quest Global Convertible Fund 3.53% 2.80% 8.09% 13.16% 2.80% 8.87% May-01 Deephaven IVS Fund, Ltd* 3.08% 4.51% 7.89% 13.48% 4.51% 13.48% Feb-07 Morley Convertible Bond Arbitrage ** 2.50% 1.54% 5.17% 10.31% 1.54% 10.41% Dec-05 Acropole Convertible Arbitrage 1.96% 1.11% 4.36% n/a 1.11% 7.75% Jul-07 JB Convertible Bond Hedge Fund * 1.44% 1.40% 2.73% 7.72% 1.40% 11.01% Jul-05 Fortis Alpha Strategies - Convertible Arbitrage Fund 0.19% 0.62% 0.16% 2.19% 0.62% 12.29% May-05 Kallista CB Arbitrage * -0.77% 1.49% 3.13% 5.46% 1.49% 6.62% Feb-01 SGAM AI Eolian Fund -1.01% 2.15% 3.54% 2.27% 2.15% 3.55% Jan-06 Lionhart Global Appreciation Fund SPC Ltd-Global Segregated Portfolio * -1.69% -0.17% 4.87% 12.07% -0.17% 11.43% May-96 KBC Diversified Fund* -1.75% -1.29% 0.41% 4.10% -1.29% 9.54% May-06 Lydian Overseas Partners Master Fund -2.20% -0.21% 1.97% 5.13% -0.21% 11.02% Nov-99 GLG Market Neutral Fund Class Z -4.00% -3.06% -0.72% 7.70% -3.06% 19.45% Jan-98 CQS Convertible & Quantitative Strategies Fund -4.89% -1.92% -1.47% 4.28% -1.92% 13.93% Mar-00 GLG Global Convertible Bond Fund Class A -5.04% -2.83% -3.31% 2.17% -2.83% 10.07% Aug-97 Sark Fund -5.33% -2.12% -5.76% 1.47% -2.12% 9.28% Mar-03 IIU Convertible Fund Class A -8.67% -5.90% -5.37% -2.78% -5.90% 16.07% Mar-97 Cheyne Leverage Fund -11.38% -9.39% -10.41% -5.69% -9.39% 5.77% Aug-02 Convertible & Equity Arbitrage EUR Lionhart Global Appreciation Fund SPC Ltd-Europe Segregated Portfolio * 8.66% 8.32% 30.48% 53.70% 8.32% 13.81% May-97 Morley Convertible Bond Arbitrage - GBP ** 2.74% 1.61% 5.49% 10.76% 1.61% 10.29% Dec-05 Morley Convertible Bond Arbitrage ** 2.26% 1.45% 4.46% 8.76% 1.45% 8.39% Dec-05 Acropole Convertible Arbitrage 1.81% 1.06% 3.99% n/a 1.06% 6.94% Jul-07 INTL Consilium Convertible Arbitrage Fund* 1.72% 1.00% 5.63% 10.30% 1.00% 5.72% Jan-04 JB Convertible Bond Hedge Fund * 1.00% 1.20% 1.90% 5.62% 1.20% 8.28% Jul-05 Fortis Alpha Strategies - Convertible Arbitrage Fund -0.01% 0.47% -0.26% 1.23% 0.47% 5.29% Oct-04 SGAM AI Boreal Fund -0.38% -0.24% -7.67% -9.38% -0.24% -1.79% Jul-05 Kallista CB Arbitrage * -0.85% 1.47% 2.77% 4.33% 1.47% 6.45% Feb-01 SGAM AI Eolian Fund -1.01% 2.13% 3.42% 1.06% 2.13% 1.83% Jul-05 Lionhart Global Appreciation Fund SPC Ltd-Global Segregated Portfolio * -1.68% -0.17% 4.82% 12.00% -0.17% 9.54% Dec-99 GLG Market Neutral Fund Class D -4.37% -3.14% -1.55% 5.75% -3.14% 14.91% Jul-99 Sark Fund -5.37% -2.08% -6.05% 0.49% -2.08% 8.77% Mar-03 IIU Convertible Fund Class B -8.67% -5.90% -5.37% -2.78% -5.90% 16.07% Mar-97 Insinger de Beaufort Global Convertible Fund -11.83% -7.85% -8.67% -2.75% -7.85% 3.78% Jul-06 Volatility Trading Trafalgar Volatility Fund - USD* 6.02% 5.45% 13.39% 45.03% 5.45% 7.44% Aug-04 Trafalgar Volatility Fund - EUR* 5.77% 5.45% 13.21% 44.00% 5.45% 7.11% Sep-04 SGAM AI Global Volatility Fund - USD 3.30% 1.48% 7.33% 7.01% 1.48% 4.97% Jan-06 SGAM AI Global Volatility Fund - EUR 2.94% 1.20% 6.45% 5.45% 1.20% 3.84% May-05 AlphaCube Gamma Trading Fund - USD 1.89% 0.66% 4.62% 6.40% 0.66% 4.44% Mar-06 AlphaCube Gamma Trading Fund - EUR 1.73% 0.61% 4.11% 5.21% 0.61% 2.99% Mar-06 Maple Leaf Macro Volatility Fund 0.37% -2.95% 4.10% 15.21% -2.95% 10.56% Oct-04 Macro USD Pivot Global Value Fund 25.62% 8.90% 42.59% 61.42% 8.90% 17.81% Mar-02 Rubicon Global Fund Series I* 16.41% 8.58% 31.71% 19.65% 8.58% 11.60% Nov-99 Brevan Howard Fund * 14.03% 9.89% 24.84% 34.90% 9.89% 15.18% Apr-03 Max Q Fund * 11.66% 9.23% 12.91% 24.23% 9.23% 13.40% Dec-02 Polar Capital Discovery Fund 10.07% 3.07% 12.80% 18.29% 3.07% 8.34% May-06 GLC Global Macro Fund ** 9.81% 3.76% 10.87% 14.48% 3.76% 12.48% Apr-06 Odey Capital Strategies 8.10% 5.99% 6.76% 3.69% 5.99% 4.11% Oct-06 Brocade Master Fund 7.20% 2.53% 13.74% 19.29% 2.53% 18.76% Dec-06 Prana Fund Ltd ** 5.87% -1.64% 24.47% 51.63% -1.64% 36.16% Jan-05 GLG Emerging Markets Fund Class A 5.46% 0.34% 22.36% 49.85% 0.34% 68.07% Nov-05 CCP Quantitative Fund 4.45% 3.93% 9.59% n/a 3.93% 13.41% Mar-07 Pulsar Macro Fund 4.32% 3.37% 11.06% 12.38% 3.37% 4.14% Jun-06 JB Global Rates Hedge Fund * 2.78% 2.80% 9.39% 18.80% 2.80% 9.71% Jan-04 MPC Strategic Opportunities Fund 1.89% 0.70% 4.51% n/a 0.70% 9.98% Jul-07 CR Global Fund 0.46% 0.10% -0.45% -5.27% 0.10% -2.02% Sep-06 IKOS Financial Fund * 0.19% 1.69% -2.26% 1.69% 1.69% 9.22% Apr-96 Duet Global Macro Fund* -0.06% -2.30% 3.72% n/a -2.30% 11.32% Jul-07 IKOS Financial Too Fund* -0.48% 2.88% -5.79% -1.98% 2.88% 8.88% Apr-96 BlueCrest Strategic Fund * -1.26% -0.13% -0.23% 5.16% -0.13% 10.17% Jul-03 Pi SPC Fund* -2.66% 2.30% -1.13% 7.13% 2.30% 8.28% Mar-06 GSA Composite Alpha Funds * -3.02% -3.88% -0.11% 7.60% -3.88% 5.90% Sep-05 Pico Fund* -3.61% -5.41% 8.80% 5.98% -5.41% 15.69% Jul-99 Episode -3.61% -1.76% 0.92% 11.19% -1.76% 12.13% Aug-05 TGM GTAA Fund -3.69% -1.31% -15.90% -20.09% -1.31% -13.05% Jun-06 Valu-Trac Strategic Fund* -3.78% -0.24% 4.93% 7.50% -0.24% 9.31% Oct-02 Harmonic Global Macro Class -4.12% -0.84% -4.73% 1.74% -0.84% 5.14% May-03 Millennium Global Tactical Asset Allocation Fund -6.10% -1.65% -3.19% n/a -1.65% -10.48% Jul-07 Pure Alpha 15 Fund * -8.23% -6.74% -8.72% 1.17% -6.74% 9.24% Nov-06 Auriel Global Macro Strategy -8.58% 2.07% -13.93% -10.24% 2.07% 5.12% Aug-04 Lansdowne Macro Fund Class N -11.39% -7.29% 0.13% 17.02% -7.29% 10.44% Jul-05 DV Global Fund -14.88% -8.35% -8.16% 0.45% -8.35% 8.05% Sep-06 Macro GBP Brevan Howard Fund * 14.48% 10.12% 25.42% 35.54% 10.12% 16.30% Apr-03 Polar Capital Discovery Fund 10.37% 3.13% 13.13% 18.54% 3.13% 8.22% May-06 Odey Capital Strategies 8.27% 5.94% 7.16% 4.22% 5.94% 4.47% Oct-06 JB Global Rates Hedge Fund * 3.12% 3.10% 10.80% 21.43% 3.10% 10.73% Jan-04 MPC Strategic Opportunities Fund 2.00% 0.62% 4.75% n/a 0.62% 10.86% Jul-07 NewSmith Global Opportunities Hedge Fund 1.98% 6.16% 4.90% 12.67% 6.16% 13.51% May-04 CR Global Fund 0.55% 0.01% -0.11% -4.89% 0.01% -2.00% Sep-06 BlueCrest Strategic Fund * -1.01% -0.02% 0.16% 5.65% -0.02% 10.85% Feb-05 Lansdowne Macro Fund Class N -11.41% -7.27% 0.41% 17.03% -7.27% 10.45% Jul-05 Macro EUR Odey Capital Strategies 14.53% 5.60% 12.80% 8.86% 5.60% 7.93% Dec-06 Brevan Howard Fund * 13.80% 9.90% 24.07% 33.18% 9.90% 14.40% Apr-03 Max Q Fund * 11.55% 9.09% 12.98% 24.27% 9.09% 13.38% Dec-02 Polar Capital Discovery Fund 9.77% 2.96% 12.02% 17.13% 2.96% 6.83% May-06 Arsago Global Macro Opportunities 9.45% 3.66% 9.03% 14.19% 3.66% 3.92% Sep-02 Brocade Master Fund 6.94% 2.47% 13.10% 18.02% 2.47% 17.48% Dec-06 GLG Emerging Markets Fund Class D 4.81% 0.31% 21.15% 47.17% 0.31% 65.30% Nov-05 Tell Fund 4.56% 1.57% 5.92% 17.61% 1.57% 18.10% Dec-96 Abraxas Fund Ltd* 4.18% 1.81% 3.74% 8.03% 1.81% 6.42% Mar-03 JB Global Rates Hedge Fund * 2.54% 2.70% 9.04% 17.35% 2.70% 8.36% Jan-04 MPC Strategic Opportunities Fund 1.58% 0.49% 3.89% n/a 0.49% 9.20% Jul-07 IKOS Financial Fund * 0.00% 3.67% -6.30% -2.41% 3.67% 8.83% Jan-04 Fourth Moment Macro* -0.94% -1.00% 4.48% 4.28% -1.00% 8.61% Jul-05 GSA Composite Alpha Funds * -2.94% -3.84% -0.55% 6.51% -3.84% 4.48% Sep-05 Camomille Global Opportunities Fund -3.50% -0.01% 10.92% 37.57% -0.01% 14.62% Nov-97 DWS Hedge Long / Short Global Macro -3.56% -3.72% -3.83% -1.88% -3.72% 2.35% Aug-05 Systeia Global Macro Program -3.58% -1.88% 2.72% 9.82% -1.88% 7.33% Apr-06 L2S Plus -6.66% -7.04% n/a n/a -7.04% -24.09% Nov-07 Pure Alpha 15 Fund * -7.70% -6.65% -8.38% 0.86% -6.65% 8.59% Nov-06 Tanglin - SEK -8.67% 2.58% -1.37% 0.98% 2.58% 10.73% Aug-00 Lansdowne Macro Fund Class N -11.52% -7.27% -0.94% 15.55% -7.27% 8.91% Jul-05 L2S Global Macro -12.62% -10.91% -12.33% -6.35% -10.91% 2.89% May-04 Clockwise I - Mixed Bond Leverage Fund Ltd -24.14% -5.51% -29.57% -32.66% -5.51% 15.65% Sep-00 ProValue Global Diversified Class A -33.49% -7.64% -29.85% -13.21% -7.64% 1.44% Jan-05 Mixed Arbitrage & Multi Strategy CQS Directional Opportunities Fund 9.94% 1.39% 27.10% 21.48% 1.39% 25.26% Sep-05 Iceberg Alternative Real Estate II Fund Limited - GBP 7.37% 0.97% 23.96% n/a 0.97% 35.70% May-07 Lionhart Aurora SPC Fund - Venture Segregated Portfolio* 7.20% 4.30% 31.26% 153.38% 4.30% 53.39% Nov-03 Iceberg Alternative Real Estate I Fund Limited - GBP 6.82% 0.78% 22.28% n/a 0.78% 33.00% May-07 BlueCrest Capital International* 6.77% 2.07% 9.03% 12.44% 2.07% 12.29% Dec-00 Iceberg Alternative Real Estate II Fund Limited - USD 6.64% 1.25% 23.40% n/a 1.25% 34.09% May-07 Iceberg Alternative Real Estate II Fund Limited - EUR 6.17% 1.02% 21.99% n/a 1.02% 33.43% May-07 Iceberg Alternative Real Estate I Fund Limited - USD 6.15% 1.19% 21.80% n/a 1.19% 31.27% May-07 Iceberg Alternative Real Estate I Fund Limited - EUR 5.63% 1.14% 20.47% n/a 1.14% 30.80% May-07 BlueCrest AllBlue - GBP* 5.13% 3.22% 7.44% 12.51% 3.22% 11.09% Mar-06 BlueCrest AllBlue - USD* 4.84% 3.11% 6.95% 11.88% 3.11% 10.64% Sep-05 BlueCrest AllBlue - EUR* 4.71% 3.08% 6.54% 10.65% 3.08% 8.83% Sep-05 Stratus Multi-Strategy Program 3.91% 0.51% 2.61% 1.49% 0.51% 9.08% Dec-03 Winton Evolution Fund - USD* 2.68% -0.23% 9.80% 10.63% -0.23% 8.71% Sep-05 Brummer & Partners Helios Euro Fund 2.20% 3.18% 3.96% 11.86% 3.18% 8.83% Oct-02 Stella Nova - SEK 2.10% -1.98% 8.17% 12.85% -1.98% 9.93% Sep-03 Brummer & Partners Helios 2xL Fund - SEK* 1.97% 4.80% 2.87% 14.96% 4.80% 13.74% Jan-05 Brummer & Partners Helios Fund 1.76% 2.76% 2.97% 10.33% 2.76% 9.95% Apr-02 Trafalgar Multi-Strategy Fund - USD* 1.65% 1.56% 6.12% 16.66% 1.56% 15.53% Mar-06 F & C Sapphire 1.65% 0.02% 4.87% 16.39% 0.02% 8.96% Sep-03 Trafalgar Multi-Strategy Fund - EUR* 1.55% 1.55% 5.55% 15.27% 1.55% 13.89% Mar-06 Lionhart Aurora SPC Fund - Optimum Segregated Portfolio* 1.08% 0.77% 7.65% 25.51% 0.77% 15.78% May-98 Trafalgar Capital - Select Fund* 0.94% -0.14% 1.79% 8.58% -0.14% 8.21% Jun-06 Finovesta Flex 1 MH 0.73% 0.05% 2.15% 9.49% 0.05% 8.62% Dec-06 Hadron Fund - USD ** 0.69% 0.22% 6.09% 8.26% 0.22% 16.20% Oct-04 Hadron Fund - EUR ** 0.57% 0.14% 5.59% 7.18% 0.14% 15.07% Oct-04 Dexia Index Arbitrage 0.54% -0.04% 2.32% 5.51% -0.04% 3.81% Sep-03 Concordia Capital Ltd., Class A* 0.13% 1.60% 1.63% 9.57% 1.60% 10.78% Mar-93 WarrenWicklund Multi-Strategy Fund - NOK* 0.01% -1.35% 3.54% 9.71% -1.35% 6.44% Jul-02 Henderson North American Equity Multi-Strategy Fund - USD -1.67% 0.48% -1.18% 9.88% 0.48% 6.49% May-05 Peloton Multi-Strategy - USD* -1.68% -1.78% 10.88% 20.90% -1.78% 13.44% Jun-05 Peloton Multi-Strategy - EUR* -1.74% -1.73% 10.05% 18.82% -1.73% 11.64% Jun-05 Sector Polaris - NOK -2.07% -2.21% -0.85% 1.55% -2.21% 5.91% Jan-06 Sector Polaris - USD -2.10% -2.27% -0.63% 2.44% -2.27% 7.63% Jan-06 Sector Polaris - EUR -2.38% -2.44% -1.05% 1.16% -2.44% 5.76% Jan-06 Aspect Master Fund -2.39% 1.33% -0.28% 5.03% 1.33% 7.51% Jan-02 Falcon Relative Value Fund -2.77% -0.97% -1.82% -2.11% -0.97% 8.20% May-99 Metage Global Strategies* -3.92% -0.70% -1.75% 15.98% -0.70% 20.73% Jul-02 AlphaGen Perseus Class C - GBP -3.93% -2.95% -1.24% 3.48% -2.95% 9.91% Dec-04 Brummer & Partners Avenir Special Mutual -3.97% -1.60% -2.31% 1.12% -1.60% 8.50% Dec-00 MKM Longboat Multi-Strategy Master Fund -4.04% -3.83% -2.15% 2.74% -3.83% 10.06% Jan-06 Henderson Pan-European Equity Multi-Strategy Fund - USD -4.09% -3.28% -4.90% -2.37% -3.28% 6.04% Dec-03 Henderson Pan-European Equity Multi-Strategy Fund - EUR -4.24% -3.35% -5.36% -3.42% -3.35% 5.22% Dec-03 AlphaGen Perseus Class A - USD -4.26% -3.04% -1.66% 3.17% -3.04% 9.37% Dec-04 AlphaGen Perseus Class B - EUR -4.34% -3.06% -2.19% 1.79% -3.06% 7.71% Dec-04 RAB Multi Strategy Fund* ** -4.67% -3.31% -3.73% 6.25% -3.31% 14.64% Jul-03 Maximus Fund - USD* ** -4.82% -6.90% -2.12% 4.18% -6.90% 6.88% Oct-06 Permal Strategic Allocation Fund - GBP -5.11% -3.55% -2.35% 2.95% -3.55% 8.07% Jul-04 AlphaGen Perseus Class D - JPY -5.11% -3.27% -3.59% -1.16% -3.27% 4.95% Dec-04 Permal Strategic Allocation Fund - USD -5.26% -3.59% -2.55% 2.73% -3.59% 7.45% Jul-04 Maximus Fund - EUR* ** -5.31% -6.90% -2.86% 1.66% -6.90% 4.83% Oct-06 Permal Strategic Allocation Fund - EUR -5.42% -3.63% -3.21% 1.16% -3.63% 5.72% Jul-04 Henderson Global Equity Multi-Strategy Fund - USD -5.47% -2.43% -4.43% 6.34% -2.43% 4.73% Jun-06 Henderson Global Equity Multi-Strategy Fund - EUR -5.57% -2.44% -4.88% 5.27% -2.44% 3.44% Jun-06 Kallista Arbitrage Strategies - USD* -5.64% -1.48% -6.89% -4.95% -1.48% -1.74% May-03 Cheyne Multi-Strategy - USD* -5.70% -4.20% -3.67% -2.50% -4.20% 5.75% May-05 Cheyne Multi-Strategy - EUR* -5.70% -4.20% -3.88% -2.61% -4.20% 3.80% Apr-05 Kallista Arbitrage Strategies - EUR* -5.75% -1.51% -7.24% -5.96% -1.51% -2.41% May-03 GLG Multi-Strategy Fund Class A -6.20% -3.93% -3.76% 2.32% -3.93% 8.37% Jan-03 Bedrock Global Themes LP -9.57% -6.91% -0.89% 9.47% -6.91% 9.59% Jul-04 Bedrock Global Themes Ltd -9.57% -6.91% -0.89% 9.46% -6.91% 9.58% Jul-04 RAB Multi Strategy Enhanced Fund* -10.58% -6.94% -10.86% 3.14% -6.94% 13.31% Jan-05 Odey Tactical Advantage - USD?? -24.18% -22.67% -16.87% 0.20% -22.67% 5.04% Jun-06 Odey Tactical Advantage - EUR -24.31% -22.77% -17.22% -1.32% -22.77% -1.32% Feb-07 Fixed Income USD CQS ABS Feeder Fund Limited 29.16% 12.71% 61.85% 61.08% 12.71% 46.58% Oct-06 Pelagus Capital Fund 10.05% 5.37% 13.88% n/a 5.37% 23.97% Apr-07 AAAsgard Fixed Income Fund 9.21% 6.82% 15.33% 13.82% 6.82% 10.22% Jun-05 Capula Global Relative Value Fund * 7.88% 2.08% 14.76% 20.97% 2.08% 18.08% Oct-05 Capula Global Relative Value Fund - JPY* 6.89% 1.73% 12.47% 16.57% 1.73% 13.61% Oct-05 Prologue Fund 5.55% 3.21% 7.94% 10.85% 3.21% 8.90% Jan-06 Morley G7 Fixed Income 5.30% 2.17% 8.04% 13.55% 2.17% 10.38% Feb-04 Weavering Macro Fixed Income Fund 3.87% 0.39% 5.34% 14.66% 0.39% 11.85% Aug-03 London Diversified Fund* 3.73% 1.12% 8.70% 13.18% 1.12% 13.99% Jun-95 Endeavour Fund * 2.99% -2.44% 4.54% 8.04% -2.44% 8.08% Jun-00 Lodsworth Arbitrage Fund 2.47% 0.31% 6.67% 10.14% 0.31% 10.09% Dec-03 London Select Fund* 2.04% 1.19% 13.94% 32.23% 1.19% 15.72% Apr-04 JB Diversified Fixed Income Hedge Fund * ** 1.63% 1.50% 8.25% 7.54% 1.50% 9.21% Jan-02 Sanctum Fixed Income Fund 1.47% -0.38% 6.68% 8.63% -0.38% 6.27% Sep-03 SAF Global Bond Market Neutral 100 0.52% 0.60% 1.08% 3.80% 0.60% 4.19% Jul-05 Henderson Global Fixed Income 0.01% 1.65% -1.33% -0.07% 1.65% 5.10% Feb-03 F & C Tourmaline -0.38% 0.76% -1.17% n/a 0.76% -0.32% Apr-07 SAF Global Bond Market Neutral 300 -0.51% 1.25% -0.81% 2.68% 1.25% 4.54% Jun-01 Mellon Absolute Bond and Currency Fund -1.23% 1.48% -0.65% 1.92% 1.48% 3.48% Nov-04 SAF Global Bond Market Neutral 600 -1.88% 2.16% -3.55% 1.28% 2.16% 4.03% Jul-05 Fixed Income GBP Morley G7 Fixed Income 5.62% 2.29% 8.53% 14.16% 2.29% 12.32% Feb-03 JB Diversified Fixed Income Hedge Fund * ** 2.20% 1.60% 8.95% 8.69% 1.60% 9.15% Aug-03 SAF Global Bond Market Neutral 100 0.77% 0.70% 1.55% 4.52% 0.70% 4.80% Aug-04 F & C Tourmaline -0.15% 0.82% -0.86% n/a 0.82% 0.28% Apr-07 SAF Global Bond Market Neutral 300 -0.21% 1.35% -0.33% 3.22% 1.35% 4.34% Oct-05 Mellon Absolute Bond and Currency Fund -1.00% 1.50% -0.33% 2.40% 1.50% 2.93% Mar-05 Fixed Income EUR Rivoli Long Short Bond Fund 14.83% 8.15% 17.32% 15.24% 8.15% 6.58% Dec-01 Pelagus Capital Fund 9.84% 5.26% 13.46% n/a 5.26% 22.91% Apr-07 AAAsgard Fixed Income Fund 9.21% 6.71% 15.27% 13.34% 6.71% 11.63% Jan-05 Brummer & Partners Nektar - SEK 8.51% 4.38% 14.91% 27.06% 4.38% 12.97% Jan-98 Prologue Fund 5.36% 3.18% 7.34% 9.58% 3.18% 7.49% Jan-06 Morley G7 Fixed Income 5.01% 2.09% 7.32% 11.97% 2.09% 8.99% Apr-04 Endeavour Fund * 3.01% -2.28% 4.67% 7.30% -2.28% 7.39% Oct-01 Lancelot Excalibur - SEK 2.46% 1.78% 6.14% 6.95% 1.78% 6.00% Apr-01 JB Diversified Fixed Income Hedge Fund * ** 1.25% 1.30% 7.43% 5.77% 1.30% 7.09% Dec-02 Nykredit Fixed Income Opportunities Fund Ltd ** 1.06% 1.41% 2.78% 4.55% 1.41% 6.43% Dec-06 Asgard Fixed Income Fund 0.44% 0.10% 2.53% 2.18% 0.10% 3.74% Jul-03 Alternatime 0.38% 0.60% 0.80% 2.84% 0.60% 3.34% Mar-01 SAF Global Bond Market Neutral 100 0.37% 0.56% 0.66% 2.72% 0.56% 2.72% Mar-03 Henderson Global Fixed Income -0.05% 1.71% -1.64% -1.00% 1.71% 4.71% Feb-03 Arsago STIRT Fund -0.06% -1.16% -0.17% 6.46% -1.16% 6.83% Nov-06 F & C Tourmaline -0.53% 0.71% -1.67% n/a 0.71% -1.14% Apr-07 SAF Global Bond Market Neutral 300 -0.57% 1.21% -1.19% 1.51% 1.21% 4.31% Jul-01 Danske Hedge Fixed Income Strategies - DKK -1.04% 0.35% 1.60% 2.93% 0.35% 4.15% Jan-05 Mellon Absolute Bond and Currency Fund -1.66% 1.40% -1.48% 0.30% 1.40% 0.76% Mar-05 SAF Global Bond Market Neutral 600 -1.88% 2.14% -3.89% -0.12% 2.14% 4.90% Sep-04 Nordic Leveraged Bond Fund I Ltd -2.87% 1.29% -3.45% -9.31% 1.29% 0.20% May-06 Hamton I - Bond 004 -10.62% -3.66% -0.67% -5.76% -3.66% 15.76% May-97 Credit USD BlueCrest Multi Strategy Credit Fund 18.27% 5.16% n/a n/a 5.16% 95.64% Nov-07 Cheyne Balanced Credit Fund 4.53% 3.33% 2.54% 1.66% 3.33% 5.95% Nov-05 Cheyne Long Short Structured Credit Fund 2.73% 0.52% 0.18% 3.77% 0.52% 5.34% May-04 Cheyne Specialty Finance Fund * 2.17% 0.65% 4.03% 10.76% 0.65% 12.21% Dec-05 Solent Credit Opportunities Fund 2.05% 2.92% -1.91% 1.41% 2.92% 15.15% Jun-05 Ilex Credit Fund 1.65% 1.26% -0.10% 4.49% 1.26% 8.28% Jul-03 Peloton ABS Fund* 0.25% -1.42% 36.78% 76.24% -1.42% 73.56% Dec-06 Asteri Master Funds Investment Ltd* 0.21% -0.17% 1.55% 9.56% -0.17% 9.72% Dec-06 Aladdin Relative Value Credit Fund * -0.37% 3.75% 1.73% 5.56% 3.75% 7.83% Jan-05 ILEX European Leveraged Loan Fund Ltd -1.48% -0.82% -4.30% n/a -0.82% 1.23% Mar-07 Threadneedle Crescendo Credit Fund -1.72% -1.50% -3.22% 1.76% -1.50% 7.69% Mar-03 Alpstar European Credit Opportunities * -1.72% -1.67% -1.71% 5.00% -1.67% 8.60% Dec-04 Cheyne Total Return Credit Fund, Class A -3.18% -3.38% -3.44% 5.69% -3.38% 12.17% Jul-06 Trafalgar Recovery Fund * -3.47% -2.75% -1.49% 8.74% -2.75% 15.56% Jul-03 RAB European Credit Opportunities Fund - Class B* -4.13% -1.21% -2.58% 7.59% -1.21% 11.38% Jul-01 Observatory Credit Markets* -4.73% -2.05% -6.36% -0.31% -2.05% 12.36% Jul-04 Alpstar Secured Bank Loan Fund * -5.28% -4.75% -7.70% -1.96% -4.75% 6.47% May-06 LGIM High Yield Alpha Fund -5.77% -1.66% -13.10% -8.63% -1.66% 1.49% Dec-05 CQS Capital Structure Arbitrage Fund -5.96% -5.27% -9.02% -7.22% -5.27% 5.11% Nov-02 Barep Global Credit - Class A -6.03% 1.14% -15.20% -9.97% 1.14% 6.02% Mar-00 Deephaven Credit Opportunities Fund Ltd* -14.46% -10.42% -14.10% -10.44% -10.42% 0.83% Sep-05 Kallista Credit Arbitrage -16.63% -6.28% -25.46% -23.70% -6.28% 0.11% Nov-01 Cinnamon European Structured Credit Fund -18.74% 0.59% -21.60% -18.14% 0.59% -4.65% May-06 GLG Credit Fund Class A -20.17% -13.15% -24.86% -20.51% -13.15% 6.54% Sep-02 Credit EUR BlueCrest Multi Strategy Credit Fund - GBP 18.51% 5.25% n/a n/a 5.25% 97.27% Nov-07 BlueCrest Multi Strategy Credit Fund 18.16% 5.13% n/a n/a 5.13% 94.90% Nov-07 Cheyne Balanced CSO Fund 4.52% 3.34% 2.12% 0.62% 3.34% 4.51% Nov-05 Cheyne Long Short Structured Credit Fund 2.75% 0.51% 0.17% 3.69% 0.51% 4.66% Jul-04 Solent Credit Opportunities Fund 1.70% 2.64% -2.16% 0.84% 2.64% 12.37% Mar-05 Ilex Credit Fund 1.50% 1.16% -0.61% 3.40% 1.16% 6.93% Nov-00 Danske Hedge Mortgage Arbitrage Fund - DKK -0.07% 0.94% 3.05% 1.82% 0.94% 3.38% Jan-04 Aladdin Relative Value Credit Fund * -0.42% 3.75% 1.61% 5.57% 3.75% 7.57% Dec-04 ILEX European Leveraged Loan Fund Ltd -1.71% -0.97% -4.74% n/a -0.97% 0.18% Mar-07 Threadneedle Crescendo Credit Fund -1.76% -1.54% -3.45% 0.98% -1.54% 7.02% Mar-03 Alpstar European Credit Opportunities * -1.98% -1.77% -2.23% 3.85% -1.77% 7.43% Dec-04 Fortis Hedge Euro High Yield -3.08% -0.41% -2.41% 1.77% -0.41% 5.22% Oct-06 Trafalgar Recovery Fund * -3.53% -2.75% -1.92% 7.51% -2.75% 14.77% Jul-03 RAB European Credit Opportunities Fund - Class A* -4.12% -1.20% -2.56% 7.43% -1.20% 10.90% Jul-01 Alpstar Secured Bank Loan Fund * -5.53% -4.85% -8.22% -3.08% -4.85% 7.80% Jan-06 Barep Global Credit - Class B -5.93% 1.09% -15.20% -10.82% 1.09% 4.66% Mar-03 CQS Capital Structure Arbitrage Fund -5.93% -5.20% -9.18% -7.96% -5.20% 4.66% Nov-02 Nexum Nordic High-Yield Credit Fund -7.58% -6.08% -7.20% -6.57% -6.08% 2.90% Jul-05 Dexia Bonds Global High Yield -7.84% -5.69% -5.11% -7.70% -5.69% 3.51% Oct-03 Cognis I Fund* ** -9.27% -6.50% -8.40% -3.71% -6.50% 9.95% Dec-03 Dexia Bonds Euro High Yield -9.40% -6.02% -6.80% -9.69% -6.02% 0.68% Mar-99 Dexia High Yield BB -9.54% -7.01% -7.57% -9.97% -7.01% 4.04% Apr-99 Alcentra European Credit Fund -12.94% -10.09% -13.25% -13.55% -10.09% 6.48% Nov-04 RAB European Loan Fund - Class A* ** -13.24% -9.60% -16.74% -14.73% -9.60% -0.10% May-05 Kallista Credit Arbitrage -16.74% -6.32% -25.77% -24.53% -6.32% -0.10% Nov-01 Dexia Leveraged Loans -17.29% -11.42% -17.51% -20.50% -11.42% -7.54% Jan-06 Tikehau Credit Opportunities Master Fund - Class B -19.29% -14.66% -16.21% -20.73% -14.66% -20.73% Feb-07 Tikehau Credit Opportunities Master Fund - Class A -19.45% -14.70% -16.47% -21.17% -14.70% -21.17% Feb-07 Tikehau Credit Opportunities Master Fund - Class C -19.54% -14.80% -16.50% n/a -14.80% -24.83% Apr-07 GLG Credit Fund Class D -20.26% -13.12% -25.25% -21.43% -13.12% 5.64% Sep-02 Dexia Credit Arbitrage -30.65% -22.33% -30.73% -35.43% -22.33% -4.43% Oct-03 Distressed Millennium Global High Yield -3.59% -5.29% -2.82% 9.75% -5.29% 22.97% Sep-99 Longacre Europe II Ltd - EUR -4.04% -2.60% -3.57% -3.07% -2.60% -1.23% Aug-06 Longacre European Capital Partners (QP) LP - USD -4.27% -2.87% -3.41% -2.01% -2.87% 0.91% May-06 Longacre Europe Ltd - USD -4.29% -2.88% -3.42% -2.05% -2.88% 0.86% May-06 Orn European Distressed Debt Fund - USD* -4.53% -1.90% -3.07% 0.53% -1.90% 11.79% Sep-02 Exotic Derivatives Coriolis Catpricorn Fund 3.57% 1.46% 8.19% 15.43% 1.46% 8.40% Oct-03 Global Maritime Investments Fund Class A* 3.51% 1.41% 11.71% 28.56% 1.41% 28.12% Oct-06 Aquila Okeanos Shipping Fund 3.07% 1.07% 5.45% n/a 1.07% 11.19% Aug-07 Coriolis Horizon Fund 1.38% 0.35% 6.69% 12.04% 0.35% 6.51% Jul-99 Coriolis Ozone Fund -1.60% -0.98% 4.33% 7.30% -0.98% 4.30% Mar-05 Global Insurance Risk Securis I Fund USD 2.80% 1.13% 6.50% 13.95% 1.13% 12.85% Oct-05 Currency JCH Global Currency Program 4.24% 2.58% 9.76% 7.05% 2.58% 5.57% Mar-05 JB Currency Hedge Fund - Discretionary Segregated Portfolio* 4.22% 1.92% 9.32% n/a 1.92% 16.14% Jul-07 Resolute Capital Growth Fund Ltd - Class A 3.20% 0.99% 7.68% 20.14% 0.99% 24.96% Aug-06 Rhicon Strategic Fund - USD 2.30% -0.08% 5.81% 12.05% -0.08% 6.44% Jul-04 Sal. Oppenheim Figaro Currency Fund - EUR ** 2.25% -0.31% 4.59% 4.67% -0.31% 3.11% Jul-05 Reliance - Xerof Foreign Exchange Fund Class E - USD 2.11% 0.11% 3.16% 12.98% 0.11% 7.65% Sep-04 Millennium Global Currency Fund 1.94% -1.69% 5.34% n/a -1.69% 6.67% May-07 Arsago Premium Currencies 1.30% 0.38% 2.62% 10.79% 0.38% 7.14% Jan-04 Reliance - Xerof Foreign Exchange Fund Class C - EUR 1.17% 0.03% 2.24% 11.02% 0.03% 7.05% Jan-02 Alder Global 10 - USD 1.09% 1.20% 4.77% 4.02% 1.20% 6.43% Oct-00 Alder Global 20 - USD 1.04% 2.20% 8.03% 4.13% 2.20% 9.39% Feb-01 DWS Hedge Long / Short Currency 0.82% 0.17% 1.05% 1.82% 0.17% 5.69% Jul-04 Rhicon 4XiM CMP 0.53% 5.84% 2.01% -11.95% 5.84% -2.76% Jun-05 F & C Garnet - EUR 0.42% 0.37% 1.24% 5.23% 0.37% 5.18% Nov-06 F & C Garnet - GBP -0.41% -0.73% 0.83% 5.47% -0.73% 5.61% Nov-06 AIM Strategic Currency (ASC) -0.49% 1.10% -1.08% -1.01% 1.10% 5.43% Jun-98 Goldman Sachs Global Currency Fund - USD -0.92% 0.11% -2.64% -1.20% 0.11% 6.59% Oct-91 Goldman Sachs Global Currency Fund - EUR -1.03% 0.03% -3.11% -2.41% 0.03% 4.33% Apr-98 Goldman Sachs Global Currency Fund - CHF -1.49% -0.18% -4.03% -4.08% -0.18% 3.51% Dec-93 Capricorn fxST Growth -1.75% -0.26% -3.16% -4.57% -0.26% 9.52% Jan-99 SingleHedge Currency Fund - EUR -2.86% -1.69% -3.54% 2.35% -1.69% 2.63% Apr-03 Capricorn fxST Aggressive -3.54% -0.54% -6.34% -8.45% -0.54% 22.38% Jan-99 IKOS Currency Fund - USD* -4.31% -0.25% -2.15% 3.01% -0.25% 7.53% Oct-99 Appleton 10% Risk Program - USD -5.16% -3.31% -6.22% -8.45% -3.31% 5.17% Jun-96 Harmonic Global Currency Class - USD -5.32% -2.12% -6.23% 9.07% -2.12% 7.48% May-03 ABN AMRO Currency Fund - EUR -5.77% 0.59% -8.56% -6.50% 0.59% 2.01% May-04 ABN AMRO Currency Fund - USD -5.90% 0.72% -8.42% -6.43% 0.72% 2.41% May-04 Aspect Global Currency Fund -8.63% -1.89% n/a n/a -1.89% -16.08% Oct-07 SingleHedge Currency Fund Plus -8.83% -3.74% -11.20% -1.47% -3.74% 4.79% Nov-06 BGI Currency Fund - EUR -9.06% -0.51% -1.67% 5.27% -0.51% 7.33% Aug-03 BGI Currency Fund - USD -9.86% -0.41% -1.31% 6.80% -0.41% 9.95% Aug-03 Appleton 25% Risk Program - USD -13.70% -8.95% -16.28% -22.40% -8.95% 11.13% Jan-95 Commodities RAB Gold Plus Fund* 19.30% 13.14% 48.38% 44.43% 13.14% 39.72% Oct-06 Krom River Commodity Fund* 11.33% 8.33% 17.00% 23.07% 8.33% 24.45% Jul-06 Armajaro Commodities Fund - Class A USD 10.95% 4.75% 19.54% 25.54% 4.75% 16.73% Apr-04 Armajaro Commodities Fund - Class A EUR 10.66% 4.69% 18.75% 23.92% 4.69% 13.51% Oct-04 Jaguar Macro Fund Limited* ** 7.66% 6.99% 8.59% n/a 6.99% 15.36% May-07 Hinde Gold Fund - USD 7.26% 6.74% n/a n/a 6.74% 38.07% Oct-07 Hinde Gold Fund - GBP 7.23% 6.75% n/a n/a 6.75% 37.92% Oct-07 RAB Gold Fund - Class B* 6.25% 4.36% 17.02% 11.62% 4.36% 11.55% Oct-06 RAB Gold Fund - Class A* 5.97% 4.19% 16.24% 10.72% 4.19% 10.84% Oct-06 AMCO Commodity Fund 0.74% 0.14% 1.43% 5.77% 0.14% 14.45% May-06 RAB Diversified Commodities Fund Class B - USD* -12.79% -7.43% -13.28% -0.60% -7.43% -0.02% May-06 RAB Diversified Commodities Fund Class A - EUR* -12.80% -7.45% -13.72% -1.62% -7.45% -1.40% May-06 Millennium Global Natural Resource Fund -13.73% -12.83% -10.04% -2.18% -12.83% 2.59% May-06 Junior Energy Fund -20.43% -14.24% -11.33% -7.35% -14.24% 17.71% Aug-06 Managed Futures USD Mulvaney Global Markets Fund 20.62% 21.65% 14.89% -7.03% 21.65% 15.34% Mar-02 Global Natural Resources Programme 20.05% 7.66% 55.73% 40.56% 7.66% 12.51% Aug-00 Amplitude Dynamic Trading Fund C Class 14.64% 0.65% 33.37% 45.47% 0.65% 24.07% Jun-05 Global Diversified Programme 13.82% 9.21% 37.67% 36.32% 9.21% 15.78% Dec-95 Beach Horizon Programme* 13.30% 9.60% 21.58% 23.38% 9.60% 20.77% May-05 BlueTrend 12.66% 9.98% 22.14% 35.23% 9.98% 18.95% Apr-04 Rivoli International Fund 10.33% 7.20% 24.83% 26.73% 7.20% 11.80% Jun-04 Altis Global Commodity Portfolio Fund* 9.90% 8.24% 14.64% 34.91% 8.24% 11.66% Apr-06 Cyril Systematic Fund 8.99% 4.56% 18.95% 24.77% 4.56% 16.33% Jan-06 Thayer Brook Fund 8.27% 4.00% 7.44% 14.83% 4.00% 7.15% Oct-05 Rivoli International Fund V9 7.03% 4.84% 16.10% 17.90% 4.84% 17.41% Jun-04 CC Athena OS Fund - Institutional USD 6.71% 2.20% 10.97% 2.00% 2.20% 3.26% Jul-06 Winton Futures Fund* 6.60% 3.83% 15.89% 17.94% 3.83% 19.49% Oct-97 Discus Managed Futures Program* 6.20% 0.95% 17.40% 21.35% 0.95% 14.76% Jan-91 Man AHL Diversified plc 6.00% 6.09% 17.74% 18.02% 6.09% 19.52% Apr-96 Global Commodity Systematic Fund 4.55% 3.20% 12.15% 18.41% 3.20% 20.63% Jul-05 Athena Guaranteed Futures Limited 4.47% 5.14% 12.10% 17.08% 5.14% 15.01% Dec-90 FTC Futures Fund - Dynamic 4.41% 5.74% 22.41% 26.25% 5.74% 12.73% May-02 SGAM AI Systematic Directional Fund 4.26% 1.90% 2.65% 8.34% 1.90% 4.15% Jan-06 Aspect Diversified Fund 3.97% 4.97% 10.05% 10.47% 4.97% 11.81% Dec-98 Superfund Gold C * 3.83% 4.73% 26.57% 12.96% 4.73% 23.56% Jan-00 GLC Directional Fund ** 3.75% -1.56% 20.56% 23.07% -1.56% 12.51% May-04 AHL Alpha plc 3.33% 4.17% 11.09% 12.62% 4.17% 17.12% Oct-95 CFML Constellation STIR Fund* 2.92% 1.48% 6.01% 11.61% 1.48% 5.55% Oct-02 Danix Fund* 2.62% 1.50% 6.81% 8.50% 1.50% 4.79% Sep-05 Jaguar Commodity Fund Limited* 0.77% 0.13% 6.17% 5.40% 0.13% 2.54% Nov-04 Appleton Global Opportunity Program 0.19% -3.08% 0.70% -7.56% -3.08% 3.59% May-03 Transtrend Diversified Trend Program - Standard Risk -0.76% -0.32% 8.42% 12.94% -0.32% 11.78% Jun-92 Quantimix -0.80% 1.43% 16.07% 22.66% 1.43% 9.91% Nov-02 Transtrend Diversified Trend Program - Enhanced Risk -1.34% -0.48% 13.13% 19.83% -0.48% 18.16% Jan-95 Quantisquare -1.43% -0.13% 14.61% 20.86% -0.13% 9.98% May-03 Estlander & Rönnlund Global Markets -1.68% 2.79% -0.61% 5.02% 2.79% 5.61% Aug-99 Transtrend Diversified Trend Program - Enhanced Risk CHF -1.82% -1.09% 12.43% 20.27% -1.09% 11.03% Oct-02 Sector EuroPower -2.38% -2.04% 5.73% 9.31% -2.04% 8.52% Dec-06 Transtrend Diversified Trend Program - Enhanced Risk JPY -2.49% -0.75% 11.33% 16.84% -0.75% 13.57% Aug-04 Tulip Trend Fund C* -2.65% -1.18% 26.85% 39.66% -1.18% 22.38% Apr-03 Capricorn fxST Aggressive SP013 -2.71% -0.42% -4.75% -5.82% -0.42% 25.00% Jan-99 GSA Capital Futures Fund* -3.51% 0.08% 1.22% 15.87% 0.08% 15.87% Feb-07 ECU Original Currency Programme -3.61% -0.26% -10.64% -7.95% -0.26% 8.39% Jan-96 Systeia Futures USD Program -3.73% -5.47% 6.12% 0.54% -5.47% 5.39% Aug-01 Estlander & Rönnlund Global Markets XL -4.03% 5.44% -2.87% 7.90% 5.44% 12.08% Aug-91 Altis Global Futures Portfolio* -4.73% -4.71% 7.17% 11.79% -4.71% 21.65% Jul-01 Endeavour Pembroke Fund Ltd* -5.99% -8.34% 4.09% n/a -8.34% 8.06% Jul-07 Millennium Global Quantitative Fund -6.03% -1.05% -3.34% n/a -1.05% -6.90% May-07 Oxeye Growth Fund * -6.12% -16.00% -0.33% 0.36% -16.00% -0.33% Jul-02 Superfund GCT -7.22% -3.77% -3.05% -13.48% -3.77% 19.55% Jan-00 Superfund Cayman -9.05% -5.00% 4.53% -8.06% -5.00% 25.13% May-01 Shearwater Fund -10.04% -12.01% 1.02% -8.39% -12.01% 3.37% Sep-06 Auriel Currency 2X Fund -21.21% -4.28% -19.95% n/a -4.28% -18.23% May-07 Managed Futures EUR ALPHA STRATEGIEN Futures MH Fund 22.60% 13.97% 10.42% 8.03% 13.97% 8.21% Sep-06 BAREP Epsilon Class A 12.99% 8.07% 21.07% 17.62% 8.07% 4.69% Jan-99 BlueTrend - GBP 12.92% 10.07% 22.59% 35.84% 10.07% 19.99% Apr-04 AIMhedge Global Diversified Fund Ltd 12.83% 7.84% 26.03% 29.92% 7.84% 25.70% Dec-06 BlueTrend 12.57% 9.96% 21.77% 34.05% 9.96% 17.81% Apr-04 Barep Epsilon Futures 10.19% 6.12% 16.03% 14.13% 6.12% 8.19% Jul-94 Rivoli International Fund 9.98% 7.06% 23.81% 24.97% 7.06% 13.24% Oct-96 Dexia Systemat 8.84% 5.86% 11.36% 10.01% 5.86% 5.46% Jul-97 Rho Fund - Altius 1XL 8.48% 4.95% n/a n/a 4.95% 38.49% Nov-07 Cyril Systematic Fund 8.15% 4.59% 15.95% 16.15% 4.59% 8.64% Jul-00 Capricorn fxMT Aggressive SP016 7.76% 1.66% 2.77% 14.30% 1.66% 14.30% Feb-07 CC Athena OS Fund - Retail 7.04% 2.57% 11.01% -0.42% 2.57% 4.52% Feb-05 Rivoli International Fund V9 6.69% 4.69% 15.05% 16.02% 4.69% 13.10% Jan-02 CC Athena OS Fund - Institutional 6.63% 2.18% 10.81% 1.84% 2.18% 6.94% Feb-05 Brummer & Partners Lynx Fund - SEK 6.54% 6.19% 11.86% 15.63% 6.19% 16.62% May-00 FTC Commodity Fund Alpha 4.03% -0.19% 29.20% 16.58% -0.19% 10.80% Apr-05 SGAM AI Systematic Directional Fund 4.02% 1.76% 1.86% 7.16% 1.76% 4.20% Jan-05 Texys Fund 2.63% -3.10% 11.15% 16.38% -3.10% -3.14% Sep-04 FTC Futures Fund - Classic 1.75% 3.77% 12.54% 12.78% 3.77% 7.89% May-98 SEB Asset Selection - SEK 1.63% 4.26% 7.37% 12.41% 4.26% 12.88% Oct-06 SEB Asset Selection 1.59% 3.89% 7.51% 12.53% 3.89% 13.17% Oct-06 John Locke High Frequency Fund 0.84% -0.18% 4.37% 6.46% -0.18% 6.60% Jul-06 Elexir Fund - SEK 0.16% -0.03% -4.34% -3.24% -0.03% 14.27% Jun-04 Elexir Fund -0.16% -0.21% -4.69% n/a -0.21% -9.42% May-07 Interkraft Energy Fund -0.42% 0.83% 3.61% 3.54% 0.83% 13.52% Sep-01 Quantimix -1.09% 1.35% 14.81% 20.44% 1.35% 8.49% Jan-03 Transtrend Diversified Trend Program - Standard Risk -1.18% -0.46% 7.36% 10.90% -0.46% 8.29% Feb-99 Transtrend Diversified Trend Program - Enhanced Risk -1.69% -0.63% 12.24% 18.56% -0.63% 13.38% Aug-99 Quantisquare -1.73% -0.23% 13.73% 18.84% -0.23% 8.81% May-03 Tulip Trend Fund A* -2.41% -1.16% 26.41% 39.72% -1.16% 21.85% Apr-03 Sector EuroPower - NOK -2.44% -2.08% 5.51% 8.70% -2.08% 7.73% Dec-06 Tulip Trend Fund - CHF G* -2.62% -1.13% 26.05% 38.51% -1.13% 32.74% May-05 Sector EuroPower -2.65% -2.15% 5.07% 8.12% -2.15% 7.20% Dec-06 Tanager Fund - CHF -3.15% -4.14% 0.95% n/a -4.14% 4.00% Mar-07 ECU Original Currency Programme - GBP -3.20% -0.11% -9.86% -7.06% -0.11% 9.06% Jan-96 ECU Original Currency Programme -3.51% -0.24% -10.44% -8.25% -0.24% 7.40% Jan-96 Oxeye Growth Fund * -4.62% -15.00% -3.88% -5.68% -15.00% -8.89% Oct-05 Superfund Q-AG -4.63% -2.21% -0.64% -4.58% -2.21% 16.74% Mar-96 Superfund HF A -5.05% -3.28% -1.80% -10.59% -3.28% 11.43% Jul-00 Superfund GCT -7.07% -3.47% -4.35% -15.95% -3.47% 8.05% Nov-01 Shearwater Fund -8.96% -10.87% -0.03% -9.42% -10.87% 2.37% Sep-06 Shearwater Fund - CHF -10.59% -12.12% -0.62% -10.36% -12.12% 26.80% Oct-05 Emerging Market Equity USD Hudson River Russia Fund Ltd* 20.95% 4.14% 39.28% 82.18% 4.14% 96.76% Apr-06 GLG Emerging Equity Fund Class A 17.93% 0.59% n/a n/a 0.59% 93.42% Nov-07 Artradis Russian Opportunities Fund 14.89% 4.33% 40.90% 89.57% 4.33% 80.55% Jan-07 Russian Opportunities Fund 8.19% -0.60% 10.43% 40.30% -0.60% 25.91% Sep-96 Spectrum CIS Value Fund 6.84% -0.64% 11.33% 36.76% -0.64% 29.20% Apr-06 Explorer Emerging Europe Fund Class A 5.40% -0.30% 9.21% 25.33% -0.30% 28.85% Nov-06 JB Emerging Markets Hedge Fund * 5.17% 1.10% 5.67% 7.80% 1.10% 10.68% Nov-04 MCT Special Opportunities Fund 4.52% -3.84% 9.84% 32.56% -3.84% 40.27% Mar-06 Foyil Eastern Europe & Russia Focused Fund 4.27% -5.05% 24.73% 74.29% -5.05% 33.04% Oct-99 Kairos Eurasian Fund Ltd - Class B 3.61% -1.45% 7.91% 27.55% -1.45% 29.66% Jan-07 OCCO Eastern European Fund 2.94% 0.07% 5.96% 22.50% 0.07% 13.83% Jan-02 Talentum Emerging Alpha Fund 2.42% 0.34% 6.13% 9.03% 0.34% 9.03% Feb-07 Mango Capital Fund 2.39% -5.00% n/a n/a -5.00% 34.09% Sep-07 Polar Capital Elbrus Fund 2.12% -2.93% 14.65% n/a -2.93% 22.58% Apr-07 GAM Frontier Opportunity Equity Hedge 1.70% -3.26% 16.28% n/a -3.26% 26.78% Jun-07 Metage Emerging Market Opportunites Fund (MEMO)* 1.62% 0.70% 4.78% 37.16% 0.70% 26.85% Sep-00 Pharos Gas Investment Fund Ltd 0.92% -12.90% 7.85% 3.05% -12.90% 43.24% Apr-04 UFG Russia Alternative Fund -0.20% -8.03% 7.40% 23.37% -8.03% 37.23% Nov-06 Spectrum Russian Growth Fund -0.85% -4.05% 6.35% 18.53% -4.05% 36.14% Sep-05 OCCO Global Emerging Markets Fund Class A* -1.43% -2.40% -2.42% 14.69% -2.40% 13.84% Jun-04 Morley Central European Long Short Equity Fund -2.22% 0.50% -0.28% 12.69% 0.50% 17.11% Jul-05 Horseman Emerging Market Opportunities Fund Ltd ** -2.87% 1.69% 21.06% 62.95% 1.69% 64.88% Oct-06 Spectrum Russia Absolute Return Fund -3.18% -5.77% 1.54% 12.99% -5.77% 22.21% Jan-03 Sokol Russian Equity Opportunity Offshore Fund -3.38% -4.85% 12.65% 34.90% -4.85% 18.19% Oct-05 FCM European Frontier Fund -3.44% -2.79% -0.91% 1.30% -2.79% 8.79% Dec-04 Adelphi Emerging Europe Fund -3.99% -1.63% 7.37% n/a -1.63% 13.72% Apr-07 Pharos Small Cap Fund Ltd -5.51% -4.50% -6.32% -0.37% -4.50% 19.74% Dec-05 Kazimir Russia Growth Fund Class A -5.75% -11.40% 13.20% 30.63% -11.40% 28.24% Aug-96 Limestone Fund SPC Class A -Wider Russia Share Class* -5.91% -9.89% 1.99% n/a -9.89% 18.85% Mar-07 GAM Global Emerging Markets Hedge -6.32% -5.03% 1.17% 12.15% -5.03% 16.50% Dec-05 ECP Emerging Europe Value Fund -6.33% -7.47% 1.62% 13.32% -7.47% 11.08% Dec-06 Kazimir Russia Growth Fund Class B -6.45% -11.50% 9.98% 24.49% -11.50% 43.84% Sep-05 UFG Russia Select Fund -7.23% -12.09% 1.18% 11.20% -12.09% 40.00% Dec-02 Pyrenees Global Value Fund -7.28% -4.17% -1.93% 18.19% -4.17% 19.75% Mar-04 BlackRock Eurasian Frontiers Fund ** -7.37% -8.98% -4.00% 6.19% -8.98% 17.44% Aug-06 North of South Emerging Markets Fund -7.86% -8.20% -4.80% 25.04% -8.20% 21.75% Dec-04 Pharos Russia Fund Ltd -8.08% -9.60% -3.17% 0.29% -9.60% 7.81% Oct-97 Sofaer Capital Emerging Markets Hedge Fund -8.13% -5.98% 8.73% n/a -5.98% 38.04% Mar-07 MT Thaler New Europe Fund -8.30% -1.88% -10.79% -6.44% -1.88% 7.38% Dec-03 RAB EMEA Fund - Class B* ** -8.80% -9.94% -2.75% 6.09% -9.94% 15.94% Dec-04 Kudu Fund - Class B -9.45% -6.23% -11.07% -2.72% -6.23% 20.33% Jul-04 RAB Emerging Markets Opportunities Fund - Class B* -9.75% -9.22% -3.73% 14.15% -9.22% 20.48% Aug-05 Matterhorn Palmyra Fund -10.18% -8.25% -5.90% 15.13% -8.25% 40.34% Jan-03 Monte Cristo Capital Emerging Markets Fund -10.32% -1.62% -9.55% 18.73% -1.62% 59.65% Jun-06 The Russian Prosperity Fund -10.33% -11.20% -5.74% 4.67% -11.20% 31.00% Sep-96 Matterhorn Resources and Energy Fund -10.66% -6.68% -6.80% 9.78% -6.68% 17.64% Mar-05 AlphaGen Pictor Fund Class A -11.55% -9.01% -2.39% 18.00% -9.01% 12.90% Jul-01 AlphaGen Pictor Fund Class C - JPY -11.75% -8.87% -3.47% 14.07% -8.87% 8.99% Apr-06 Nevsky Fund Ltd -11.98% -8.12% 2.33% 19.21% -8.12% 31.41% Oct-00 Access Turkey Fund -12.51% -9.93% -6.39% 16.92% -9.93% 27.22% Apr-99 SR Global Fund (Class G) Emerging -13.07% -10.05% -4.78% 20.62% -10.05% 28.65% Mar-96 Resolution Hexam EMEA Absolute Return Fund -13.11% -14.78% -3.78% -11.25% -14.78% -3.70% Jul-06 SR Vista (Class 1) Emerging Markets -13.76% -10.56% -3.94% 27.49% -10.56% 34.37% Feb-03 FPP Emerging Hedge Fund I -14.92% -12.59% -18.23% -5.71% -12.59% 5.41% Dec-98 Gazinvest Fund -15.21% -7.52% -13.61% -3.97% -7.52% 75.80% Oct-03 Lansdowne Emerging Markets Fund -15.36% -13.04% -11.27% 8.63% -13.04% 13.97% Oct-06 PCP Emerging Markets Active Fund -16.56% -14.20% -12.45% 25.73% -14.20% 18.92% Mar-02 Cheyne Global Emerging Markets Fund -17.99% -14.72% -7.13% n/a -14.72% 0.15% May-07 Emerging Value Opportunities Fund -32.12% -27.44% -30.01% -12.63% -27.44% 21.39% Dec-93 PharmaInvest Fund -37.53% -37.55% -28.13% 3.50% -37.55% 16.93% Oct-06 Emerging Market Equity EUR GLG Emerging Equity Fund Class C - GBP 18.87% 0.76% n/a n/a 0.76% 99.65% Nov-07 GLG Emerging Equity Fund Class B 17.68% 0.49% n/a n/a 0.49% 91.80% Nov-07 JB Emerging Markets Hedge Fund * 5.03% 1.10% 5.08% 5.77% 1.10% 9.00% Nov-04 Kairos Eurasian Fund Ltd - Class A 3.60% -1.45% 7.37% 26.13% -1.45% 28.30% Jan-07 Dexia Long Short Emerging Markets 2.42% 2.15% 4.38% 4.59% 2.15% 3.38% Nov-04 Talentum Emerging Alpha Fund 1.97% 0.25% 5.21% 7.64% 0.25% 7.64% Feb-07 Mango Capital Fund 1.88% -5.68% 12.26% 43.75% -5.68% 29.09% Feb-06 GAM Frontier Opportunity Equity Hedge 1.30% -3.46% 14.23% n/a -3.46% 23.77% Jun-07 RP Explorer Liquid Fund* 0.85% -2.37% 5.22% n/a -2.37% 10.70% Aug-07 RP Explorer Fund* 0.55% -2.34% 4.68% 12.48% -2.34% 12.93% Sep-04 OCCO Global Emerging Markets Fund Class B* -1.79% -2.75% -3.14% 12.88% -2.75% 12.65% Jul-04 Morley Central European Long Short Equity Fund - GBP -2.11% 0.52% -0.04% 12.91% 0.52% 17.27% Jul-05 Morley Central European Long Short Equity Fund -2.31% 0.42% -0.86% 11.09% 0.42% 14.91% Jul-05 Horseman Emerging Market Opportunities Fund Ltd ** -3.03% 1.25% 19.69% 58.42% 1.25% 60.30% Oct-06 FCM European Frontier Fund - GBP -3.15% -2.63% -0.35% n/a -2.63% -0.70% Aug-07 FCM European Frontier Fund -3.61% -2.79% -1.47% 0.22% -2.79% 7.46% Dec-04 Adelphi Emerging Europe Fund -6.02% -3.08% 0.51% n/a -3.08% 2.54% Apr-07 GAM Global Emerging Markets Hedge -6.46% -5.12% 0.47% 10.52% -5.12% 14.51% Dec-05 BlackRock Eurasian Frontiers Fund ** -7.96% -9.38% -5.13% 4.20% -9.38% 15.41% Aug-06 MT Thaler New Europe Fund -8.39% -1.92% -11.38% -7.68% -1.92% 1.00% Aug-05 ECP Emerging Europe Value Fund -8.62% -9.16% -5.56% 2.38% -9.16% 3.38% Dec-06 RAB EMEA Fund - Class A* ** -8.66% -9.87% -2.80% 5.79% -9.87% 15.83% Dec-04 Kudu Fund - Class B GBP -9.20% -6.14% -10.77% -2.70% -6.14% 20.54% Jul-04 Kudu Fund - Class B -9.42% -6.18% -11.30% -3.74% -6.18% 12.33% Jun-01 RAB Emerging Markets Opportunities Fund - Class A* -9.64% -9.20% -3.90% 13.64% -9.20% 20.11% Aug-05 FPP Seven Seas Fund -10.23% -14.79% -13.04% -1.11% -14.79% 7.36% Dec-99 AlphaGen Pictor Fund Class B -11.75% -9.14% -3.28% 15.83% -9.14% 9.13% May-06 Nevsky Fund Ltd -12.04% -8.08% 1.60% 17.64% -8.08% 29.24% May-04 Griffin Eastern European Value Fund -12.15% -7.03% -17.30% -13.53% -7.03% 15.13% Dec-97 Resolution Hexam EMEA Absolute Return Fund - GBP -13.55% -15.54% -2.66% -10.28% -15.54% -3.89% Jul-06 Resolution Hexam EMEA Absolute Return Fund -13.63% -15.16% -3.66% -11.06% -15.16% -4.08% Jul-06 Lansdowne Emerging Markets Fund - GBP -15.29% -13.11% -11.21% 8.46% -13.11% 13.66% Oct-06 Lansdowne Emerging Markets Fund -15.56% -13.29% -12.02% 7.05% -13.29% 12.05% Oct-06 Cheyne Global Emerging Markets Fund -17.98% -14.63% -7.73% n/a -14.63% -0.99% May-07 Emerging Market Debt USD GLG Emerging Currency and Fixed Income Fund Class A 17.81% 5.55% n/a n/a 5.55% 92.66% Nov-07 Star Fund 11.07% 3.82% 20.09% 29.52% 3.82% 13.06% Nov-99 Millennium Global Emerging Credit Fund 10.89% 7.70% 14.71% 34.16% 7.70% 32.61% Dec-06 Finisterre Global Opportunity Fund* 6.30% 5.52% 10.37% 24.64% 5.52% 17.47% Apr-06 Argo Fund 4.52% 0.68% 5.83% 12.66% 0.68% 17.29% Oct-00 Denholm Hall Russia Arbitrage Fund B Shares* 4.10% 1.24% 9.91% 18.62% 1.24% 19.83% Oct-03 Argo Global Special Situations 3.87% -0.76% 5.96% 14.29% -0.76% 15.35% Aug-04 Finisterre Sovereign Debt Fund* 3.40% 4.18% 6.54% 10.02% 4.18% 8.69% Apr-03 Denholm Hall Russia Arbitrage Fund C Shares* 3.23% 0.96% 6.44% 12.57% 0.96% 11.41% Aug-05 Denholm Hall Russia Arbitrage Fund A Shares* 3.19% 1.10% 6.19% 12.76% 1.10% 19.14% Jun-02 Rainbow Global High Yield Fund 2.58% 2.14% 7.56% 20.21% 2.14% 14.06% Apr-97 Bridge Global Opportunities Fund 2.38% 0.68% n/a n/a 0.68% 9.85% Nov-07 GLG Emerging Markets Special Situations Fund 2.26% -2.39% 10.69% n/a -2.39% 40.75% Apr-07 UFG Russia Debt Fund 2.02% 0.62% 3.78% 10.58% 0.62% 11.18% Oct-04 Finisterre Special Situations Fund* 1.63% 1.90% 3.51% n/a 1.90% 10.69% Jul-07 Hillside Apex Segregated Portfolio Fund* 1.61% 0.26% 2.90% 7.93% 0.26% 13.08% Aug-98 Convivo Absolute Sovereign High Yield Fund 0.49% 0.90% 3.25% 9.29% 0.90% 20.42% Jul-99 Convivo Emerging Opportunities Fund 0.17% -0.70% 6.50% 23.79% -0.70% 18.55% Jan-06 Fortis EM Fixed Income Hedge Fund 0.10% -0.02% 2.36% 6.50% -0.02% 9.38% Nov-05 FPP GEMs Bond Fund -0.04% -2.46% 0.92% 6.52% -2.46% 10.85% Jan-03 VR Global Offshore Fund Ltd* -0.19% -1.50% 4.25% 14.74% -1.50% 34.90% May-99 BlueCrest Emerging Markets Fund* -3.37% -2.15% -0.23% 7.49% -2.15% 14.98% Sep-05 BT Finance Emerging Market Bond Fund -4.45% -1.62% -1.30% 6.32% -1.62% 6.99% Jul-03 Emerging Income Fund -26.57% -24.32% -24.30% -6.53% -24.32% 22.85% Sep-04 Emerging Market Debt EUR GLG Emerging Currency and Fixed Income Fund Class C - GBP 18.71% 5.87% n/a n/a 5.87% 98.61% Nov-07 GLG Emerging Currency and Fixed Income Fund Class B 17.59% 5.54% n/a n/a 5.54% 91.20% Nov-07 GLG Emerging Markets Special Situations Fund - GBP 2.72% -2.38% 11.31% n/a -2.38% 41.34% Apr-07 GLG Emerging Markets Special Situations Fund 2.20% -2.41% 9.98% n/a -2.41% 38.92% Apr-07 Hillside Apex Segregated Portfolio Fund - GBP* 1.92% 0.33% 3.29% 8.33% 0.33% 12.12% May-04 Hillside Apex Segregated Portfolio Fund* 1.46% 0.20% 2.48% 6.90% 0.20% 11.77% Jun-03 Fortis EM Fixed Income Hedge Fund -0.09% -0.13% 1.75% 5.28% -0.13% 6.97% Sep-03 FPP GEMs Bond Fund -0.15% -2.54% 0.69% 5.61% -2.54% 9.85% Jan-03 BlueCrest Emerging Markets Fund - GBP* -3.14% -2.04% 0.19% 8.01% -2.04% 11.95% Feb-06 BlueCrest Emerging Markets Fund* -3.47% -2.18% -0.54% 6.52% -2.18% 13.50% Sep-05 * Estimate ** Fund Profile Service ~ Since Re-launch ^ Bi-Monthly Valuation ^^ With gross returns from inception readjusted to give the net figure as if normal fees had been taken

These league tables were produced by HedgeFund Intelligence directly. If you wish to be included and qualify as a European based fund, please contact Damian Alexander at HedgeFund Intelligence on +44 (0)20 7779 7361, or email dalexander@hedgefundintelligence.com.

According to the Czech Trade Mark Act, an opposition against a trade mark application must be filed, complete with reasons and evidence, within three months from the publication of the application. This deadline for filing of an opposition cannot be extended and failure to comply with it cannot be excused. Any additions or amendments and evidence presented in support of the opposition after the deadline will be disregarded by the Industrial Property Office.

Following an internal meeting on October 16 2007, the Trade Mark Review and Adjudication Board (TRAB) concluded that they would consider the following when dealing with a letter of consent:

A bill under Congressional consideration originates in the commitments undertaken by Chile pursuant to the Free Trade Agreement with the United States and intends to increase the penalties for IP crimes, including in new areas such as internet piracy and the associated liability of ISPs.

The Austrian Supreme Court has requested a preliminary ruling from the European Court of Justice (ECJ) regarding the three–dimensional trade mark of a sitting golden chocolate rabbit (CTM number 1,698,885).