5 EUROPE...Michele Porro, Scott Sullivan, Marco Suter, Craig Walli 5 Hedge fund(s) Fund name:...

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2013I N A S S O C I A T I O N W I T H

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Total AUM figure, firm-wide, of all hedge fund assets (i.e., fund and managed account assets, globally) managed by the firm as at 31 March 2013Ranking position in 2012 Europe 50 surveyThe date the business was foundedThe names of the founders or current principals of the business, if the founders have retired from the businessThe names/inception date/AUM figures/investment strategy/asset classes traded/portfolio managers/fund domicile for the largest five hedge funds managed (or fewer if fewer than five managed)Total AUM figure of all hedge fund assets managed in dedicated managed accountsTotal AUM figure of all hedge fund assets managed in a UCITS-compliant formatThe names of those UCITS-compliant funds

KEY

01

Brevan Howard

1Total AUM (as at 30.06.13)$40.0bn

2 2012 ranking2

3Founded2002

4Founders/principalsAlan Howard

5Hedge fund(s)Fund name: Brevan Howard Master Fund LimitedInception date: 04/2003AUM: $27.4bnPortfolio manager: Multiple portfolio managersStrategy: Global macro, relative valueAsset classes: Fixed income and FXDomicile: Cayman Islands

Fund name: Brevan Howard Multi-Strategy Master Fund LimitedInception date: 03/2008AUM: $4.8bnPortfolio manager: N/AStrategy: Multi-strategyAsset classes: Fixed income, FX, credit, commoditiesDomicile: Cayman Islands

Fund name: Brevan Howard Credit Catalyst Master Fund LimitedInception date: 06/2009AUM: $4.0bnPortfolio manager: David WarrenStrategy: Catalyst-driven fundamentalAsset classes: Credit and mortgage tradingDomicile: Cayman Islands

Fund name: Brevan Howard Emerging Markets Master Fund LimitedInception date: 04/2007AUM: $2.6bnPortfolio manager: Geraldine SundstromStrategy: Emerging markets macroAsset classes: Fixed income, credit, FXDomicile: Cayman Islands

Fund name: Brevan Howard Asia Master Fund LimitedInception date: 10/2004AUM: $2.0bnPortfolio manager: Kaspar ErnstStrategy: Global macro, relative valueAsset classes: Fixed income, FXDomicile: Cayman Islands

6Dedicated managed accounts AUM$42.0m

7aUCITS-compliant hedge fund AUM$2.0bn

7bUCITS-compliant fundsBrevan Howard Investment Fund - Emerging Markets Local Fixed Income Fund Brevan Howard Investment Fund II - Macro FX Fund

02

Man


2 2012 ranking1

3Founded1783 (as a cooperage)

4Founders/principalsManny Roman (CEO), Luke Ellis (President), Jonathan Sorrell (CFO)

5Hedge fund(s)Fund name: Man AHL Diversified plcInception date:03/1996AUM: $7.9bnPortfolio manager: Tim Wong, Matthew SargaisonStrategy: Managed futuresAsset classes: Cross assetDomicile: Ireland

Fund name: GLG European Long ShortInception date: 09/2000AUM: $2.7bnPortfolio manager: Pierre Lagrange, Simon Savage, Darren HodgesStrategy: Multi-strategy – equity long/short, market neutralAsset classes: EquityDomicile: Cayman Islands and onshore UCITS

Fund name: FRM Diversified IIInception date: 01/2004AUM: $2.1bnPortfolio manager: Paul le PageStrategy: Multi-strategy – low volatilityAsset classes: TraditionalDomicile: Cayman Islands

Fund name: GLG Market NeutralInception date: 01/1998AUM: $910.0mPortfolio manager: Steve RothStrategy: Multi-strategy – arbitrageAsset classes: Credit and convertibles Domicile: Cayman Islands

Fund name: AHL DimensionInception date: 07/2006AUM: $900.0m (approx.)Portfolio manager: Tim Wong, Nick GrangerStrategy: Multi-strategy quantAsset classes: Cross assetDomicile: Guernsey

6Dedicated managed accounts AUM$8.2bn


7bUCITS-compliant fundsGLG Alpha Select Alternative GLG Atlas Macro Alternative GLG EM Currency & Fixed Income Alternative GLG EM Diversified Alternative GLG European Alpha Alternative GLG European Equity Alternative GLG Financials Alternative GLG North American Equity Alternative

03

BlueCrest Capital Management


2 2012 ranking3

3Founded2000

4Founders/principalsMike Platt, Leda Braga

5Hedge fund(s)Fund name: BlueCrest Capital InternationalInception date: 12/2000AUM: $13.5bnPortfolio manager: Mike PlattStrategy: Global macroAsset classes: Not disclosedDomicile: Not disclosed

Fund name: BlueTrendInception date: 04/2004AUM: $15.4bnPortfolio manager(s): Leda BragaStrategy: Systematic trend followingAsset classes: Not disclosedDomicile: Not disclosed

Fund name: AllBlueInception date: 09/2005AUM: $7.7bnPortfolio manager: Mike PlattStrategy: Multi strategyAsset classes: Not disclosedDomicile: Not disclosed

6Dedicated managed accounts AUMNot disclosed

7aUCITS-compliant hedge fund AUMNot disclosed

7bUCITS-compliant fundsNot disclosed

04

Blackrock


2 2012 ranking6

3Founded1988

4Founders/principalsLarry Fink

5Hedge fund(s)Fund name: UK Emerging Companies Hedge FundInception date: Not disclosed AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Equity long/short Asset classes: Not disclosedDomicile: Not disclosed

Fund name: UK Equity Hedge FundInception date: Not disclosed AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Equity long/short Asset classes: Not disclosedDomicile: Not disclosed

Fund name: EOSInception date: Not disclosed AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Equity long/short Asset classes: Not disclosedDomicile: Not disclosed

Fund name: Fixed Income Global AlphaInception date: Not disclosed AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Fixed income multi-strategy Asset classes: Not disclosedDomicile: Not disclosed

Fund name: European Hedge FundInception date: Not disclosed AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Equity long/short Asset classes: Not disclosedDomicile: Not disclosed



7bUCITS-compliant fundsUK Absolute AlphaEuropean Absolute ReturnEuropean Credit StrategiesEDEARGlobal Absolute Return Bond

EUROPE50

2

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07

Brummer and Partners


2 2012 ranking8

3Founded1995

4Founders/principalsPatrik Brummer, Per Josefsson, Peter Thelin, Kent Janér, Svante Elfving, Klaus Jäntti

5Hedge fund(s)Fund name: Brummer Multi-StrategyInception date: 04/2002AUM: $5.27bnPortfolio manager: Klaus Jäntti, Patrik BrummerStrategy: Multi strategyAsset classes: Not disclosed Domicile: Sweden

Fund name: LynxInception date: 05/2000AUM: $4.88bnPortfolio manager: Svante Bergström, Jonas Bengtsson, Martin Sandquist, Anders Holst, Jesper SandinStrategy: Systematic macroAsset classes: Not disclosed Domicile: Sweden, Bermuda

Fund name: NektarInception date: 01/1998AUM: $4.38bnPortfolio manager: Kent Janér, Thomas Andersson, Fredrik Attefall, Martin Larsén, Kerim Kaskal, Martin Larsén, Patrik Olsson, Thomas Orbert, Ralf Siebel, Domenico Veronese, Dirk WiemerStrategy: Fixed income, macro relative valueAsset classes: Not disclosed Domicile: Sweden, Bermuda

Fund name: ZenitInception date: 07/1996AUM: $1.53bnPortfolio manager: Martin Jonsson, Tom Hedges, Stephen Irvine, Anders WennbergStrategy: Global equitiesAsset classes: Not disclosed Domicile: Sweden

Fund name: ObservatoryInception date: 07/2004AUM: $1.07bnPortfolio manager: Shazad Ghaffar, Salman Khan, Edward ZeeStrategy: Global credit marketAsset classes: Not disclosed Domicile: Cayman Islands


7aUCITS-compliant hedge fund AUMN/A

7bUCITS-compliant fundsN/A

08

Amundi


2 2012 ranking10

3Founded2010

4Founders/principalsLaurent Guillet (CEO), Franck Dargent, (Deputy CEO), Luc Martin (CIO), Sylvie Dehove (Deputy CIO).

5Hedge fund(s)Fund name: Amundi Alternatives Jana NirvanaInception date: 09/2011 (managed account), 04/2007 (reference fund) AUM: $303.0m (managed account) Portfolio manager: Barry Rosenstein, Gary ClaarStrategy: Event driven US – value catalyst strategyAsset classes: Equities, credit, commodities Domicile: Dublin (Ireland)

Fund name: Amundi Alternatives TPG AxonInception date: 01/2012 (managed account), 02/2005 (reference fund) AUM: $240.0m (managed account) Portfolio manager: Dinakar SinghStrategy: Long/short equity – global fundamental long/short fund that invests across the capital structure with an emphasis on large cap equitiesAsset classes: Equities, equity derivatives, credit, credit derivatives, commodities, FX Domicile: Dublin (Ireland)

Fund name: Amundi Alternatives TIG Arbitrage Associates EnhancedInception date: 05/2011 (managed account), 01/1993 (reference fund) AUM: $233.0m (managed account) Portfolio manager: Drew FigdorStrategy: Merger arbitrage US focusing on announced and international M&A transactions onlyAsset classes: Principally equities and corporate debtDomicile: Dublin (Ireland)



7bUCITS-compliant fundsAmundi Funds Absolute Volatility Euro EquitiesAmundi Funds Absolute Volatility World EquitiesAmundi Funds Absolute Volatility ArbitrageAmundi Funds Absolute Volatility Arbitrage PlusAmundi Funds Absolute Equity Market NeutralAmundi Funds Absolute Global Macro 2 (EUR)Amundi Funds Absolute Global Macro 4 (EUR)

05

Winton Capital Management


2 2012 ranking4

3Founded1997

4Founders/principalsDavid Harding, Anthony Daniell, Tony Fenner- Leitão, Matthew Beddall, Raj Patel

5Hedge fund(s)Fund name: Winton Futures FundInception date: 10/1997AUM: $9.7bnPortfolio manager: SystematicStrategy: DiversifiedAsset classes: Futures, options, listed equities, fixed incomeDomicile: BVI

Fund name: Winton Diversified Futures Fund (US) L.P.Inception date: 07/2012AUM: $159.9mPortfolio manager: SystematicStrategy: DiversifiedAsset classes: Futures, options, fixed incomeDomicile: Delaware, USA

Fund name: Winton Evolution FundInception date: 09/2005AUM: $30.0mPortfolio manager: SystematicStrategy: DiversifiedAsset classes: Futures, options, listed equities, fixed income Domicile: Cayman Islands

Fund name: Winton Global Equity FundInception date: 12/2010AUM: $280.1mPortfolio manager: SystematicStrategy: Long-only global equityAsset classes: Listed equitiesDomicile: Ireland, UCITS IV


7aUCITS-compliant hedge fund AUM$280.1m

7bUCITS-compliant fundsWinton Global Equity Fund

06

GAM Holding

1Total AUM (as at 30.06.13)$24.1bn*

2 2012 ranking7

3FoundedGAM was founded in 1983. Swiss & Global launched their first investment fund (as part of Julius Baer group) in 1970.

4Founders/principalsDavid M. Solo, Andrew Hanges, Martin Jufer, Michele Porro, Scott Sullivan, Marco Suter, Craig Walli

5Hedge fund(s)Fund name: Absolute Return Bond StrategiesInception date: 04/2004AUM: $15.9bnPortfolio manager: Tim Haywood, Daniel Sheard, Jack FlahertyStrategy: Unconstrained fixed incomeAsset classes: Fixed income and derivativesDomicile: Luxembourg (SICAV), Cayman Islands

Fund name: GAM Global Rates and Discretionary FX StrategyInception date: 01/2004AUM: $2.7bnPortfolio manager: Adrian OwensStrategy: Macro managed futuresAsset classes: Fixed income and derivativesDomicile: Ireland (UCITS), Cayman Islands

Fund name: World Invest/Talentum Developed Europe StrategyInception date: 07/2002AUM: $1.0bnPortfolio manager: Gianmarco Mondani, Roberto Cantaluppi, Paolo LonginottiStrategy: Non-directional equityAsset classes: Europe equity long/shortDomicile: Luxembourg (SICAV), Cayman Islands

Fund name: JB EF Absolute Return EuropeInception date: 09/2010AUM: $300.0mPortfolio manager: Andy KastnerStrategy: Equity long/shortAsset classes: Europe equity long/shortDomicile: Luxembourg (SICAV)6Dedicated managed accounts AUMNot disclosed


7bUCITS-compliant fundsGAM Star FundsJulius Baer Absolute Return FundsWorld Invest Funds

* Note: In April 2013, GAM Holding AG introduced a new management structure reflecting the convergence in the activities of GAM and Swiss & Global Asset Management. As a result, total AUM is now combined for GAM and Swiss and Global AM.

EUROPE50

3

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12

CQS


2 2012 ranking14

3Founded1999

4Founders/principalsMichael Hintze

5Hedge fund(s)Fund name: CQS Directional Opportunities FundInception date: 08/2005Strategy AUM: $2.5bnPortfolio manager: Michael HintzeStrategy: Multi-strategy directionalAsset classes: Not disclosedDomicile: Not disclosed

Fund name: CQS ABS FundInception date: 10/2006Strategy AUM: $2.3bnPortfolio manager: Simon Finch, ABS teamStrategy: Long/short relative value asset backed securitiesAsset classes: Not disclosed Domicile: Not disclosed

Fund name: CQS Diversified Fund Inception date: 03/2007Strategy AUM: $935mPortfolio manager: James Peattie, Peter Warren, Investment Advisory CommitteeStrategy: Multi-strategy Asset classes: Not disclosed Domicile: Not disclosed

Fund name: CQS Credit Long Short Fund Inception date: 04/2009Strategy AUM: $808mPortfolio manager: Simon FinchStrategy: Credit long/short Asset classes: Not disclosed Domicile: Not disclosed

Fund name: CQS Convertible and Quantitative Strategies Fund Inception date: 03/2000Strategy AUM: $607mPortfolio manager: Michael Hintze, Alex Schoenenberger, Convertibles teamStrategy: Global convertible arbitrage Asset classes: Not disclosed Domicile: Not disclosed




10

Marshall Wace


2 2012 ranking18

3Founded1997

4Founders/principalsIan Wace, Paul Marshall

5Hedge fund(s)Fund name: MW EurekaInception date: 01/1998AUM: $4.37bnPortfolio manager: Paul MarshallStrategy: Long/short equityAsset classes: EquityDomicile: Ireland

Fund name: MW Global OpportunitiesInception date: 02/2009AUM: $2.25bnPortfolio manager: Fehim SeverStrategy: Long/short equityAsset classes: EquityDomicile: Ireland

Fund name: MW CoreInception date: 07/2002AUM: $1.33bnPortfolio manager: Ernesto FragomeniStrategy: Long/short equityAsset classes: EquityDomicile: Ireland

Fund name: MW European TOPSInception date: 07/2002AUM: $1.97bnPortfolio manager: Anthony ClakeStrategy: Long/short equityAsset classes: EquityDomicile: Ireland

Fund name: MW Market Neutral TOPSInception date: 11/2007AUM: $1.42bnPortfolio manager: Anthony ClakeStrategy: Equity market neutralAsset classes: EquityDomicile: Ireland




11

Cevian Capital


2 2012 ranking15

3Founded2002

4Founders/principalsLars Förberg, Christer Gardell

5Hedge fund(s)Fund name: Cevian Capital IIInception date: 07/2006AUM: $8.35bnPortfolio manager: Lars Förberg, Christer GardellStrategy: Operational activist (Europe-focused)Asset classes: Equity Domicile: Cayman Islands

6Dedicated managed accounts AUMN/A



09

Lansdowne Partners


2 2012 ranking11

3Founded1998

4Founders/principalsSir Paul Ruddock, Steven Heinz

5Hedge fund(s)Fund name: Lansdowne Developed Markets FundInception date: 08/2001AUM: $8.1bnPortfolio manager: Peter Davies, Stuart Roden and Jonathon RegisStrategy: Long/short equityAsset classes: EquitiesDomicile: Cayman Islands and Delaware (US)

Fund name: Lansdowne Global Financials FundInception date: 07/2004AUM: $1.1bnPortfolio manager: William de WintonStrategy: Long/short equityAsset classes: EquitiesDomicile: Cayman Islands and Delaware (US)

Fund name: Lansdowne Developed Markets Strategic Investment FundInception date: 07/2007AUM: $835.0mPortfolio manager: Peter Davies, Stuart Roden and Jonathon RegisStrategy: Unconstrained equity fundAsset classes: EquitiesDomicile: Cayman Islands and Delaware (US)

Fund name: Lansdowne European Equity FundInception date: 09/1998AUM: $496.0mPortfolio manager: David Craigen and Steven HeinzStrategy: Long/short equityAsset classes: EquitiesDomicile: Cayman Islands and Delaware (US)

Fund name: Lansdowne European Long Only FundInception date: 01/2005AUM: $272.0mPortfolio manager: Steven Heinz and Daniel AvigadStrategy: Long only equityAsset classes: EquitiesDomicile: Cayman Islands and Delaware (US)




EUROPE50

4

13

Capula


2 2012 ranking9

3Founded2005

4Founders/principalsYan Huo, Masao Asai

5Hedge fund(s)Not disclosed




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15

Polygon Investment Group


2 2012 ranking13

3Founded2002

4Founders/principalsReade Griffith, Paddy Dear

5Hedge fund(s)Fund name: Convertible Opportunity FundInception date: 05/2009AUM: Not disclosedPortfolio manager: Mike HumphriesStrategy: Event driven convertible bondsAsset classes: Convertible bondsDomicile: Cayman Islands

Fund name: European Equity Opportunity FundInception date: 07/2009AUM: Not disclosedPortfolio manager: Reade Griffith, Nicolas DautignyStrategy: European event driven equitiesAsset classes: EquitiesDomicile: Cayman Islands

Fund name: Mining Opportunity FundInception date: 06/2012AUM: Not disclosedPortfolio manager: Peter Bell, Mike HumphriesStrategy: Long/short equityAsset classes: EquitiesDomicile: Cayman Islands

Fund name: Tetragon Financial GroupInception date: 08/2005AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Not disclosedAsset classes: Not disclosedDomicile: Guernsey

Fund name: LCMInception date: 08/2001AUM: Not disclosedPortfolio manager: Farboud TavangarStrategy: US loansAsset classes: Fixed incomeDomicile: Not disclosed




14

Transtrend

1Total AUM (as at 30.06.13)$7.4bn (est.)

2 2012 ranking12

3Founded1991

4Founders/principalsJoep van den Broek, Harold de Boer, Mark van Dongen, Andre Honig

5Hedge fund(s)Fund name: Diversified Trend ProgramInception date: 06/1992AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Managed futuresAsset classes: Not disclosedDomicile: Not disclosed

Fund name: Equity Trend ProgramInception date: 01/2007AUM: Not disclosedPortfolio manager: Not disclosedStrategy: Systematic long/short equityAsset classes: Not disclosedDomicile: Not disclosed




16

Cheyne Capital


2 2012 ranking20

3Founded1999

4Founders/principalsJonathan Lourie, Stuart Fiertz, Chris Goekjian

5Hedge fund(s)Fund name: Cheyne Real Estate Debt FundInception date: 10/2009AUM: Not disclosedPortfolio manager: Shamez Alibhai, Ravi StickneyStrategy: European real estate debtAsset classes: Not disclosed Domicile: Cayman Islands

Fund name: Cheyne Total Return Credit FundInception date: 07/2006AUM: Not disclosedPortfolio manager: John Weiss, David PeacockStrategy: Long only actively managed corporate creditAsset classes: Not disclosed Domicile: Cayman Islands

Fund name: Cheyne European Event Driven FundInception date: 10/2009AUM: Not disclosedPortfolio manager: Simon Davies, Michel MassoudStrategy: European event drivenAsset classes: Not disclosed Domicile: Cayman Islands

Fund name: Cheyne Real Estate Credit Holdings FundInception date: 07/2011AUM: Not disclosedPortfolio manager: Shamez Alibhai, Ravi StickneyStrategy: Real estate mezzanine lendingAsset classes: Not disclosed Domicile: Cayman Islands

Fund name: Cheyne Multi-Strategy FundInception date: 04/2005AUM: Not disclosedPortfolio manager: Chris GoekjianStrategy: Multi-StrategyAsset classes: Not disclosed Domicile: Cayman Islands


7aUCITS-compliant hedge fund AUM$400m

7bUCITS-compliant fundsCheyne Convertibles Absolute Return FundCheyne European Real Estate Bond FundCheyne Global Credit FundCheyne Malacca Asia Long/Short Fund

EUROPE50

5

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18=

Capital Fund Management


2 2012 ranking21=

3Founded1991

4Founders/principalsJean-Philippe Bouchaud, Philippe Jordan, Marc Potters and Jacques Saulière

5Hedge fund(s)Fund name: StratusInception date: 12/2003AUM: $4.8bnPortfolio manager: Team-managedStrategy: Multi-strategy quantitative systematic program allocated to directional trading, equity statistical arbitrage, equity volatility arbitrage, directional volatility and intraday tradingAsset classes: Futures, cash bonds, spot FX, ETFs, equities and optionsDomicile: BVI, Cayman Islands and Delaware

Fund name: DiscusInception date: 01/1991AUM: $2.9bnPortfolio manager: Team-managedStrategy: Quantitative managed futures programAsset classes: Futures and spot FXDomicile: BVI and Cayman Islands

6Dedicated managed accounts AUM$429m



18=

Henderson Alternative Investment Advisors Ltd


2 2012 ranking13

3Founded1969

4Founders/principalsAndrew Formica, Paul Graham, Ben Wallace, Luke Newman, Rob Giles, Adam McConkey, Jamie Brooke, John Stewart, William Garnett, Jeremy Hall, Léopold Arminjon, John Bennett, John Crawford

5Hedge fund(s)Fund name: AlphaGen OctanisInception date: 03/2005AUM: $888.21m Portfolio manager: Ben Wallace, Luke NewmanStrategy: UK large cap equity long/shortAsset classes: EquitiesDomicile: Cayman Islands

Fund name: AlphaGen Volantis, Volantis Catalyst and UK Best IdeasInception date: 05/2002AUM: $764.19m Portfolio manager: Rob Giles, Adam McConkey, Jamie BrookeStrategy: UK small cap equity long/shortAsset classes: EquitiesDomicile: Cayman Islands

Fund name: AlphaGen Hokuto and TenroInception date: 11/2000AUM: $589.99mPortfolio manager: John Stewart, Robert Tull, Vincent MusumeciStrategy: Japan equity long/shortAsset classes: Equities Domicile: Cayman Islands

Fund name: Japan Absolute Return Inception date: 07/2000AUM: $371.72m Portfolio manager: William Garnett, Jeremy HallStrategy: Japan equity long/shortAsset classes: EquitiesDomicile: Cayman Islands

Fund name: AlphaGen Tucana, Capella and European Equity HybridInception date: 11/1999AUM: $352.28mPortfolio manager: Léopold Arminjon, John BennettStrategy: European high-conviction equity long/shortAsset classes: Equities Domicile: Cayman Islands




17

Aspect Capital


2 2012 ranking16

3Founded1997

4Founders/principalsAnthony Todd, Martin Lueck, John Wareham, Kenneth Hope, Barney Dalton, Jean-Michel Fayolle

5Hedge fund(s)Fund name: Aspect Diversified FundInception date: 12/1998AUM: $1.5bnPortfolio manager: Aspect Capital LimitedStrategy: Aspect Diversified ProgrammeAsset classes: Managed futures Domicile: Cayman Islands

Fund name: Aspect Diversified Trends Fund (UCITS Compliant)Inception date: 12/2010AUM: $774.8mPortfolio manager: Aspect Capital LimitedStrategy: Aspect Diversified ProgrammeAsset classes: Managed futures Domicile: Ireland



7bUCITS-compliant fundsAspect Diversified Trends Fund

20=

Dexia Asset Management


2 2012 ranking21

3Founded1996

4Founders/principalsNaïm Abou-Jaoudé, Fabrice Cuchet

5Hedge fund(s)Fund name: Dexia Index ArbitrageInception date: 09/2003AUM: $1.7bnPortfolio manager: E. TerrazStrategy: Index arbitrageAsset classes: Long/short equities Domicile: France

Fund name: Dexia Long Short Credit Inception date: 10/2009AUM: $666.0mPortfolio manager: Philippe Noyard, Patrick ZeenniStrategy: Arbitrage (long and short)Asset classes: Long/short creditDomicile: France

Fund name: Dexia World Alternative Alphamax Inception date: 07/2001AUM: $351.0mPortfolio manager: J-G Nicolay, M.FerrandStrategy: Multi-strategy fund of hedge fundsAsset classes: DiversifiedDomicile: Luxembourg

Fund name: Dexia Bonds Global Convertible Optimum Inception date: 11/2009AUM: $260.0mPortfolio manager: O. GenestStrategy: AggregateAsset classes: Convertible bondsDomicile: Luxembourg

Fund name: Dexia Diversified FuturesInception date: 11/2009AUM: $139.0mPortfolio manager: S. BrumentStrategy: Trend-following systematicAsset classes: DiversifiedDomicile: France




EUROPE50

6

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22

Credit Suisse


2 2012 ranking25

3Founded1856

4Founders/principalsNiklaus Hilti (Insurance Linked Strategies)

5Hedge fund(s)Fund name: Insurance Linked Strategies (several funds)Inception date: 10/2006AUM: $5.31bnPortfolio manager: Niklaus HiltiStrategy: Insurance-linkedAsset classes: InsuranceDomicile: Guernsey, Cayman Islands

Fund name: European Small and Mid Cap Opportunity FundInception date: 09/2007AUM: $154.3mPortfolio manager: Felix MeierStrategy: Equity long/shortAsset classes: European small and mid cap equitiesDomicile: Guernsey, Luxembourg



7bUCITS-compliant fundsCredit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short

23

Aquila


2 2012 ranking24

3Founded2001

4Founders/principalsDr. Dieter Rentsch, Roman Rosslenbroich

5Hedge fund(s)Fund name: AC Risk Parity 7 FundInception date: 2004AUM: $800.0mPortfolio manager: Harold Heuschmidt, Aquila Capital Quant TeamStrategy: Multi-asset risk parityAsset classes: Commodities, bonds, equities, interest ratesDomicile: Luxembourg

Fund name: AC Risk Parity 12 FundInception date: 2008AUM: $510.0mPortfolio manager: Harold Heuschmidt, Aquila Capital Quant TeamStrategy: Multi-asset risk parityAsset classes: Commodities, bonds, equities, interest ratesDomicile: Luxembourg

Fund name: AC Risk Parity 17 FundInception date: 2012AUM: $30.0mPortfolio manager: Harold Heuschmidt, Aquila Capital Quant TeamStrategy: Multi-asset risk parityAsset classes: Commodities, bonds, equities, interest ratesDomicile: Luxembourg



7bUCITS-compliant fundsAC Risk Parity 7 FundAC Risk Parity 12 FundAC Risk Parity 17 FundAC Risk Parity Bond Fund

20=

TCI The Children’s Investment

Fund Management


2 2012 ranking19

3Founded2003

4Founders/principalsChris Hohn

5Hedge fund(s)Fund name: The Children’s Investment Master FundInception date: Not disclosedAUM: Not disclosedPortfolio manager: Chris HohnStrategy: ActivistAsset classes: Not disclosedDomicile: Not disclosed




24

Egerton Capital


2 2012 ranking28

3Founded1994

4Founders/principalsJohn Armitage (Founder & CIO)

5Hedge fund(s)Fund name: Egerton Long-Short Master Fund LimitedInception date: 09/1994AUM: $3.51bnPortfolio manager: John ArmitageStrategy: Equity long/shortAsset classes: EquitiesDomicile: Cayman Islands

Fund name: Schroder GAIA Egerton Equity FundInception date: 11/2009AUM: $1.45bnPortfolio manager: John ArmitageStrategy: Equity long/shortAsset classes: EquitiesDomicile: Luxembourg



7bUCITS-compliant fundsSchroder GAIA Egerton Equity Fund

EUROPE50

7

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26

Cantab Capital Partners


2 2012 ranking31

3Founded2006

4Founders/principalsDr Ewan Kirk, Erich Schlaikjer, Chris Pugh, Dr Tom Howat, Dr Genia Diamond, Dr Matthew Killeya

5Hedge fund(s)Fund name: CCP Quantitative FundInception date: 03/2007AUM: $2.6bnPortfolio manager: Cantab CapitalStrategy: Managed futures/CTAAsset classes: Futures, FX forwardsDomicile: Cayman Islands

Fund name: CCP Core Macro FundInception date: 01/2013AUM: $320.0mPortfolio manager: Cantab CapitalStrategy: Managed futures/CTAAsset classes: Futures, FX forwardsDomicile: Cayman Islands




27

Chenavari


2 2012 ranking-

3Founded2008

4Founders/principalsLoic Fery and Frederic Couderc (co-Founders and co-CIO's)

5Hedge fund(s)Fund name: Chenavari Multi Strategy - MS2Inception date: 02/2012AUM: Not disclosedPortfolio manager: L.Fery, F. Couderc, B.Pellegrini, S.GharredStrategy: Not disclosedAsset classes: Not disclosedDomicile: Cayman Islands

Fund name: Chenavari Corporate Credit strategy - A1Inception date: 10/2008AUM: Not disclosedPortfolio manager: S. Gharred, M. Meslemani, A. Malik, D.Brasil, S.Parlebas, M.Beurel Diamant Strategy: Not disclosedAsset classes: Not disclosedDomicile: Cayman Islands

Fund name: Chenavari Real Estate Debt strategy - R2Inception date: 11/2011AUM: Not disclosedPortfolio manager: S. Mellor, A. HainesStrategy: Not disclosedAsset classes: Not disclosedDomicile: Cayman Islands

Fund name: Chenavari Regulatory Capital strategy - D1Inception date: 05/2011AUM: Not disclosedPortfolio manager: H.Tissier de Mallerais and D.TurnerStrategy: Not disclosedAsset classes: Not disclosedDomicile: Cayman Islands

Fund name: Chenavari Toro Capital IAInception date: 06/2009 AUM: Not disclosedPortfolio manager: B. Pellegrini, F. Couderc, D. TurnerStrategy: Not disclosedAsset classes: Not disclosedDomicile: Luxembourg




25

AKO Capital


2 2012 ranking-

3Founded2005

4Founders/principalsNicolai Tangen (CIO and CEO)





EUROPE50

8

28

Arrowgrass Capital Partners LLP


2 2012 ranking29=

3Founded2008

4Founders/principalsNick Niell, Henry Kenner, Chris Wehbé, Andrew Billett, Michael Chung, Michael Edwards, Peter Darrell, Aidan de Brunner and Darren Rodohan

5Hedge fund(s)Fund name: Arrowgrass Master Fund LtdInception date: 02/2008AUM: $3.84bnPortfolio manager: Nick NiellStrategy: European-focused multi-strategyAsset classes: Not disclosed Domicile: Cayman Islands

Fund name: Arrowgrass Distressed Opportunities Fund LtdInception date: 07/2008AUM: $114.02mPortfolio manager: Michael ChungStrategy: European-focused distressedAsset classes: Not disclosed Domicile: Cayman Islands

Fund name: Arrowgrass Equity Focus Fund LtdInception date: 05/2009AUM: $45.93mPortfolio manager: Andrew BillettStrategy: European equity long/shortAsset classes: Not disclosed Domicile: Cayman Islands




EUROPE50

9

30

Odey Asset Management


2 2012 ranking42=

3Founded1991

4Founders/principalsCrispin Odey, David Fletcher

5Hedge fund(s)Fund name: Odey European IncInception date: 06/1992AUM: $2.04bnPortfolio manager: Crispin OdeyStrategy: Capital appreciationAsset classes: Equities, commodities, bonds, currencyDomicile: Cayman Islands

Fund name: CF Odey Absolute Return Inception date: 05/2009AUM: $1.02bnPortfolio manager: James HanburyStrategy: Absolute returnAsset classes: Equities, commodities, bonds, currencyDomicile: UK

Fund name: OEI Mac IncInception date: 02/1994AUM: $842.57mPortfolio manager: Crispin OdeyStrategy: Long-term cap, currenciesAsset classes: Equities, commodities, bonds, currencyDomicile: Cayman Islands

Fund name: Odey Swan FundInception date: 03/2013AUM: $194.38mPortfolio manager: Crispin OdeyStrategy: Capital appreciation Asset classes: Equities, commodities, bonds, currencyDomicile: Ireland

Fund name: Odey Odyssey FundInception date: 07/2012AUM: $141.83mPortfolio manager: Tim BondStrategy: Long-term capital growth Asset classes: Equities, commodities, bonds, currencyDomicile: Ireland



7bUCITS-compliant fundsOdey Giano fundOdey Absolute Return fundOdey Odyssey fundOdey Swan fundOdey Naver fundOdey Orion fund

32

Lombard Odier


2 2012 ranking36=

3Founded11/2007

4Founders/principalsHubert Keller

5Hedge fund(s)Fund name: 1798 Fundamental Strategies Fund LtdInception date: 11/2007AUM: $1.13bnPortfolio manager: Steven Bulko (CIO)Strategy: Fundamentally-driven, equity-focused long/short fundAsset classes: Hedge fundsDomicile: Cayman Islands

Fund name: 1798 AOG Energy FundInception date: 12/2009AUM: $511.00mPortfolio manager: Martin FischStrategy: Investing across capital structure of energy companiesAsset classes: Hedge fundsDomicile: Luxembourg

Fund name: 1798 Consumer Equity Long/ShortInception date: 05/2012AUM: $486.00m (includes two managed accounts)Portfolio manager: Bryan MattsonStrategy: Consumer focused equity long/short strategy (across 2 broad sub-sectors: consumer discretionary and consumer staples)Asset classes: Hedge fundsDomicile: Luxembourg

Fund name: 1798 US Special SituationsInception date: 05/2010AUM: $277.00m (includes one managed account)Portfolio manager: Gary LehrmanStrategy: Portfolio of North American event-driven credit and equity situations investing in all layers of the capital structureAsset classes: Hedge fundsDomicile: Luxembourg

Fund name: LO Funds – Tactical AlphaInception date: 01/2010AUM: $274.00mPortfolio manager: Gregor MacIntoshStrategy: Implements tactical overlay strategies by taking long & short positions on various asset classes with a global macro focus exploiting three time horizons and five different alpha sourcesAsset classes: Asset allocationDomicile: Luxembourg


7aUCITS-compliant hedge fund AUM$601.0m (excludes assets in the non-UCITS LOF II – Total Return Bond fund)

7bUCITS-compliant fundsLO Funds - 1798 Europe Equity Long/ShortLO Funds – Tactical AlphaLO Funds – Total Return BondLO Funds – Asia Absolute Return

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Insight Investment

1Total hedge fund AUM (as at 30.06.13)$3.63bn

2 2012 ranking34

3Founded2002

4Founders/principalsNot disclosed

5Hedge fund(s)Fund name: Absolute Insight Equity Market Neutral Fund Inception date: 02/2007 AUM: $1.26bn Portfolio manager(s): Andrew Cawker, Richard Howarth, Iain Brown, David Headland, Matthew CookeStrategy: UK/Europe equities Asset classes: Equities, equity derivatives, liquid/near cash assets Domicile: Ireland

Fund name: Absolute Insight (multi-strategy) Fund Inception date: 02/2007 AUM: $784.7m Portfolio manager(s): Reza Vishkai, Sonja UysStrategy: Multi-strategy Asset classes: UCITS absolute return funds Domicile: UK

Fund name: Absolute Insight Emerging Market Debt Fund Inception date: 02/2007 AUM: $732.3m Portfolio manager(s): Colm McDonagh Strategy: Emerging markets Asset classes: Emerging market debt, derivatives, interest rate, exchange rate instruments Domicile: Ireland

Fund name: Absolute Insight Credit Fund Inception date: 06/2009 AUM: $641.2m Portfolio manager(s): Alex Veroude Strategy: Multi-strategy Asset classes: Corporate debt, structured credit, derivatives Domicile: Ireland

Fund name: BNY Mellon Absolute Return Equity FundInception date: 01/2011 AUM: $574.4m Portfolio manager(s): Andrew Cawker, Richard Howarth, Iain Brown, David Headland, Matthew CookeStrategy: UK equitiesAsset classes: Equities, equity derivatives, liquid/near cash assetsDomicile: Ireland



7bUCITS-compliant fundsAbsolute Insight Equity Market Neutral FundAbsolute Insight Credit FundAbsolute Insight Emerging Market Debt FundAbsolute Insight Currency Fund

31

Exane Asset Management


2 2012 ranking32=

3Founded2001

4Founders/principalsPhilippe Sanlaville

5Hedge fund(s)Fund name: Exane Pleiade 5 FundInception date: 03/2006AUM: $656.38mPortfolio manager: Hervé Ragagnon, Muriel d’AmbrosioStrategy: Long/short market neutral equityAsset classes: Long/short equityDomicile: France

Fund name: Exane Ceres FundInception date: 02/2007AUM: $525.81mPortfolio manager: Charles-Henri NêmeStrategy: Long/short market neutral equityAsset classes: Media, retail consumerDomicile: Luxembourg

Fund name: Exane Archimedes FundInception date: 09/2006AUM: $463.24mPortfolio manager: Gilles Lenoir, César ZeitouniStrategy: Long/short market neutral equityAsset classes: Technology, telecommunications, utilitiesDomicile: Luxembourg

Fund name: Exane Templiers FundInception date: 03/2006AUM: $294.20mPortfolio manager: Jean-François Roussel, Henri-Daniel Samama, Julien SebbanStrategy: Long/short market neutral equityAsset classes: Financials, basic resourcesDomicile: Luxembourg

Fund name: Exane Gulliver FundInception date: 10/2001AUM: $287.54mPortfolio manager: Gilles Meshaka, Alexandre DergatcheffStrategy: Long/short market neutral equityAsset classes: Large caps (Europe)Domicile: France



7bUCITS-compliant fundsExane Ceres FundExane Archimedes FundExane Templiers FundExane Gulliver Fund

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BlueBay Asset Management


2 2012 ranking41

3Founded2001

4Founders/principalsHugh Willis (CEO), Mark Poole (CIO)

5Hedge fund(s)Fund name: BlueBay Macro FundInception date: 11/2009AUM: $1.2bnPortfolio manager: Neil Phillips, Jonathan FaymanStrategy: Global macroAsset classes: EM focus, FX and ratesDomicile: Cayman Islands

Fund name: BlueBay Emerging Market Corporate Alpha FundInception date: 11/2011AUM: $188.0mPortfolio manager: Polina Kurdyavko, Anthony KettleStrategy: Emerging market corporate debtAsset classes: EM corporatesDomicile: Cayman Islands

Fund name: BlueBay Emerging Market Opportunity FundInception date: 06/2007AUM: $114.0mPortfolio manager: David Dowsett, Rodrigo Da FonsecaStrategy: Emerging market debtAsset classes: Sovereign, local currency, corporate creditDomicile: Luxembourg

Fund name: BlueBay Emerging Market Absolute Return Bond FundInception date: 07/2010AUM: $196.0mPortfolio manager: David Dowsett, Rodrigo da FonsecaStrategy: Emerging market debtAsset classes: Sovereign, local currency, corporate creditDomicile: Luxembourg

Fund name: BlueBay Credit Alpha Long Short FundInception date: 11/2011AUM: $187.0mPortfolio manager: Geraud Charpin, Thomas MouldsStrategy: Investment grade debtAsset classes: Sovereign and corporate creditDomicile: Cayman Islands



7bUCITS-compliant fundsBlueBay Emerging Market Absolute Return Bond Fund

35

Spinnaker Capital


2 2012 ranking27

3Founded1999

4Founders/principalsAlexis Habib, Claude Marion, Bradley Wickens, Jorge Rosas

5Hedge fund(s)Fund name: Spinnaker Global Emerging Markets Fund (SGEM) Inception date: 12/2000AUM: $1.32bnPortfolio manager: Bradley WickensStrategy: Emerging markets multi-strategyAsset classes: Credit, equity, FX, ratesDomicile: BVI

Fund name: Spinnaker Global Opportunity Fund (SGO) Inception date: 02/2001AUM: $1.02bnPortfolio manager: Jorge Rosas Strategy: Emerging markets macroAsset classes: FX, rates, credit, equityDomicile: BVI

Fund name: Spinnaker Global Special Situations Fund (SGSS)Inception date: 03/2013AUM: $286m Portfolio manager: Spinnaker Global Investment Committee Strategy: Emerging markets distressed, special situationsAsset classes: Credit, equityDomicile: Cayman Islands




33

IPM Informed Portfolio Management


2 2012 ranking26

3Founded1998

4Founders/principalsAnders Lindell, Lars Ericsson

5Hedge fund(s)Fund name: IPM Systematic Macro (Cayman)Inception date: 07/2006AUM: $117.0mPortfolio manager: Systematic Investment ProcessStrategy: Global MacroAsset classes: Equities, bonds, currenciesDomicile: Cayman Islands

Fund name: IPM Systematic CurrencyInception date: 04/2005AUM: $92.0mPortfolio manager: Systematic Investment ProcessStrategy: Global macroAsset classes: CurrenciesDomicile: Cayman Islands




36

Edesia Asset ManagementFormely Louis Dreyfus Investment Group (Commodities)


2 2012 ranking36= (as Louis Dreyfus Investment Group)

3Founded2008

4Founders/principalsIan McIntosh

5Hedge fund(s)Fund name: LD Commodities Alpha FundInception date: 11/2008AUM: $1.7bnPortfolio manager: Ian McIntosh, Richard Allen, Vincent Carenso, Simon Proctor, James Gatehouse, Peter SandlerStrategy: Long/shortAsset classes: CommoditiesDomicile: Cayman Islands with onshore/offshore feeders

Fund name: LD Commodities Alpha 2X FundInception date: 04/2010AUM: $260.0mPortfolio manager: Ian McIntosh, Richard Allen, Vincent Carenso, Simon Proctor, James Gatehouse, Peter SandlerStrategy: Long/shortAsset classes: CommoditiesDomicile: Cayman Islands with onshore/offshore feeders

Fund name: LD Commodities Dynamic Agriculture FundInception date: 05/2012AUM: $40.0mPortfolio manager: Ian McIntosh, Jake StoneStrategy: Long biasAsset classes: CommoditiesDomicile: Cayman Islands with onshore/offshore feeders




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SEB Asset Management


2 2012 ranking38

3Founded1856

4Founders/principalsNot disclosed

5Hedge fund(s)Fund name: SEB Asset Selection FundInception date: 10/2006AUM: $975.00mPortfolio manager: Hans-Olov BornemannStrategy: Managed futures/CTAAsset classes: Equities, fixed income, foreign exchangeDomicile: Luxembourg

Fund name: SEB Räntehedge AlphaInception date: 05/2006AUM: $781.06mPortfolio manager: Stefan DaberiusStrategy: Fixed income, relative valueAsset classes: Fixed income, FXDomicile: Finland

Fund name: SEB Hedge Fixed IncomeInception date: 04/2001AUM: $243.63mPortfolio manager: Stefan DaberiusStrategy: Fixed income, relative valueAsset classes: Fixed income, FXDomicile: Sweden

Fund name: SEB SelectInception date: Fund vehicle 03/2007 (Strategy 10/2010)AUM: $192.63mPortfolio manager: Mårten GabrielssonStrategy: Fund of fundsAsset Class: Multi-strategyDomicile: Luxembourg

Fund name: SEB Credit Multi StrategyInception date: 11/2009 (UCITS IV 07/2013)AUM: $ 113.51mPortfolio manager: Thomas KristianssonStrategy: Absolute return – multi-strategyAsset classes: CreditsDomicile: Luxembourg



7bUCITS-compliant fundsSEB Asset SelectionSEB Asset Selection DefensiveSEB Asset Selection OpportunisticSEB Asset Selection OriginalSEB Credit Multi StrategySEB Select

38

Pharo Management


2 2012 ranking35

3Founded2000

4Founders/principalsGuillaume Fonkenell, Michael Skarbinski, Jeff Hanlon, Marcelo Castro

5Hedge fund(s)Fund name: Pharo Trading Fund, Ltd.Inception date: 12/2000AUM: $211.49m*Portfolio manager: Guillaume FonkenellStrategy: Emerging markets across a range of asset classesAsset classes: Foreign exchange, credit, interest rates, commodities, volatilityDomicile: Cayman Islands

Fund name: Pharo Macro Fund, Ltd.Inception date: 05/2005AUM: $2.17bn*Portfolio manager: Guillaume Fonkenell, Michael Skarbinski, Marcelo Castro and teamStrategy: Emerging markets across a range of asset classes Asset classes: Foreign exchange, credit, interest rates, commodities, volatilityDomicile: Cayman Islands

Fund name: Pharo Gaia Fund, Ltd.Inception date: 12/2008AUM: $43.71m*Portfolio manager: Guillaume Fonkenell, Michael Skarbinski, Marcelo Castro and teamStrategy: Emerging markets across a range of asset classes Asset classes: Foreign exchange, credit, interest rates, commodities, equities, volatilityDomicile: Cayman Islands

Fund name: Pharo Africa Fund, Ltd.Inception date: 02/2013AUM: $19.99m*Portfolio manager: Guillaume Fonkenell, Michael Skarbinski, Marcelo Castro and teamStrategy: African markets across a range of asset classesAsset classes: Foreign exchange, credit, interest rates, commodities, equities, volatilityDomicile: Cayman Islands




*As at 01.07.2013

37

COMAC


2 2012 ranking23

3Founded2005

4Founders/principalsColm O’Shea (Founding Partner and CIO)

5Hedge fund(s)Fund name: COMAC Master Fund LimitedInception date: 06/2006AUM: $2.50bnPortfolio manager: Colm O’SheaStrategy: Global macroAsset classes: Not disclosed Domicile: Cayman Islands




39

Pictet Asset Management


2 2012 ranking-

3FoundedPictet was founded in 1805. Pictet Asset Management (PAM) managed its first institutional mandate in 1967.

4FoundersRenaud de Planta, Rémy Best

5Hedge fund(s)Fund name: PTR-KosmosInception date: 06/2011AUM: $858.0mPortfolio manager: Kazik Swiderski, Raymond SagayamStrategy: Long/short credit global investment gradeAsset classes: CreditDomicile: Luxembourg

Fund name: The Alphanatics FundInception date: 08/2004AUM: $449.0mPortfolio manager: Not disclosedStrategy: Multi-strategy market neutralAsset classes: Multi-assetDomicile: Cayman Islands

Fund name: PTR-BanyanInception date: 11/2011AUM: $188.0mPortfolio manager: Nidhi MahurkarStrategy: Long/short equity Asia ex-JapanAsset classes: EquityDomicile: Luxembourg

Fund name: PTR-Corto EuropeInception date: 04/2010AUM: $128.0mPortfolio manager: Nils Francke, Philippe SarreauStrategy: Long/short equity, European mid capAsset classes: EquityDomicile: Luxembourg

Fund name: Mandarin Offshore Fund LtdInception date: 01/2007AUM: $99.0mPortfolio manager: Lan Wang SimondStrategy: Long/short equity Greater ChinaAsset classes: EquityDomicile: BVI

6Dedicated managed accounts AUM$103.80


7bUCITS-compliant fundsPTR-Corto EuropePTR-MandarinPTR-Kosmos PTR-Banyan

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Tyrus Capital


2 2012 ranking40

3Founded2009

4Founders/principalsTony Chedraoui

5Hedge fund(s)Fund name: Tyrus Capital Event FundInception date: 10/2009AUM: $1.17bnPortfolio manager: Tony ChedraouiStrategy: Event drivenAsset classes: EquitiesDomicile: Cayman Islands

Fund name: Tyrus Capital Opportunities FundInception date: 04/2011AUM: $811mPortfolio manager: Tony ChedraouiStrategy: Event drivenAsset classes: EquitiesDomicile: Cayman Islands




41

Prologue Capital


2 2012 ranking48

3Founded2006

4Founders/principalsDavid Lofthouse, Graham Walsh

5Hedge fund(s)Fund name: Prologue Fund LP (Cayman Master Fund)Inception date: 02/2006AUM: $2.30bnPortfolio manager: David Lofthouse, Graham Walsh, Barry Piafsky.Strategy: Global fixed incomeAsset classes: Sovereign debt, FX and MBS Domicile: Cayman Islands master fund with Cayman Islands feeder and Delaware feeder




42=

GSA Capital


2 2012 ranking-

3Founded2005

4Founders/principalsJonathan Hiscock

5Hedge fund(s)Fund name: GSA Capital International FundInception date: 03/2005AUM: $1.43bnPortfolio manager: David Khabie-ZeitouneStrategy: Systematic multi-strategyAsset classes: $/£/€Domicile: Cayman Islands, Delaware (limited partnership feeder fund)

Fund name: GSA QFFInception date: 05/2011AUM: $676mPortfolio manager: Jonathan HiscockStrategy: Systematic directional tradingAsset classes: $/£/€Domicile: Cayman Islands, Delaware (limited partnership feeder fund)

Fund name: GSA Alpha FundInception date: 07/2008AUM: $461mPortfolio manager: David Khabie-ZeitouneStrategy: Systematic equity market-neutralAsset classes: $/£/€Domicile: Cayman Islands, Delaware (limited partnership feeder fund)




42=

Theleme Partners


2 2012 ranking-

3Founded2009

4Founders/principalsPatrick Degorce





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Boussard & Gavaudan

1Total AUM (as at 31.03.13*)$1.72bn

2 2012 ranking49

3Founded2002

4Founders/principalsEmmanuel Boussard, Emmanuel Gavaudan

5Hedge fund(s)Fund name: Boussard & Gavaudan FundInception date: 03/2003AUM: $1.50bnPortfolio manager: Emmanuel Boussard, Emmanuel GavaudanStrategy: Multi-strategyAsset classes: Europe – equity, credit, volatilityDomicile: Ireland




47

Jabre Capital


2 2012 ranking42=

3Founded2006

4Founders/principalsPhilippe Jabre, Philippe Riachi, Mark Cecil

5Hedge fund(s)Fund name: JABCAP Multi-Strategy FundInception date: 02/2007AUM: $502.0mPortfolio manager: Philippe JabreStrategy: Multi-strategyAsset classes: USD, EUR, CHF, GBPDomicile: Cayman Islands

Fund name: JABCAP Global Balanced FundInception date: 05/2007AUM: $440.0mPortfolio manager: Philippe JabreStrategy: EquityAsset classes: USD, EUR, CHF, GBPDomicile: Cayman Islands

Fund name: JABCAP Global Convertible FundInception date: 05/2007AUM: $300.0mPortfolio manager: Philippe Jabre, Jan-Hinnerk RichterStrategy: Convertible bondsAsset classes: USD, EUR, GBPDomicile: Cayman Islands

Fund name: JABCAP EMEA FundInception date: 10/2008AUM: $254.0mPortfolio manager: Carl TohmeStrategy: Emerging marketsAsset classes: USD, EUR, CHF, GBPDomicile: Cayman Islands

Fund name: JABCAP Event Driven FundInception date: 11/2010AUM: $38.0mPortfolio manager: Ziad TabetStrategy: Event drivenAsset classes: USD, EUR, CHFDomicile: Cayman Islands



7bUCITS-compliant fundsJABCAP (LUX) Global Balanced FundJABCAP (LUX) Convertible Bonds Fund

45

Finisterre Capital


2 2012 ranking47

3Founded2002

4Founders/principalsPaul Crean, Frode Foss-Skiftesvik, Yan Swiderski, Rafael Biosse Duplan, Xavier Corin-Mick

5Hedge fund(s)Fund name: Finisterre Sovereign Debt FundInception date: 04/2003AUM: $783.0mPortfolio manager: Xavier Corin-Mick, Paul Crean, Vadim SobolevskiStrategy: Emerging markets debt long/shortAsset classes: Top-down macro, liquid instruments (external sovereign debt & FX)Domicile: Cayman Islands

Fund name: Finisterre Credit FundInception date: 07/2007AUM: $530.3mPortfolio manager: Rafael Biosse Duplan, Rahul Sharma and Alex WilliamsonStrategy: Credit long/shortAsset classes: Bottom-up creditDomicile: Cayman Islands

Fund name: Finisterre Global Opportunity FundInception date: 04/2006AUM: $380.0mPortfolio manager: Yan Swiderski, Darren Walker, Sirushe Hewazy, Devin LoStrategy: Emerging markets long/shortAsset classes: Top-down macro/multi-strategyDomicile: Cayman Islands




48

Amplitude Capital


2 2012 ranking-

3Founded08/2004

4Founders/principalsKarsten Schroeder, Peter Voss, Steffen Bendel, John Harrison 5Hedge fund(s)Fund name: Amplitude Dynamic Trading FundInception date: 06/2005AUM: $970.0mPortfolio manager: Karsten SchroederStrategy: Short-term CTAAsset classes: All asset classesDomicile: Cayman Islands

Fund name: Amplitude Sinfonie FundInception date: 09/2009AUM: $848.3mPortfolio manager: Karsten SchroederStrategy: Short-term CTAAsset classes: All asset classesDomicile: Cayman Islands

Fund name: Amplitude Klassik FundInception date: 09/2009AUM: $573.0mPortfolio manager: Karsten SchroederStrategy: Short-term CTAAsset classes: All asset classesDomicile: Cayman Islands




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Armajaro


2 2012 ranking-

3Founded07/2002

4Founders/principalsAnthony Ward, Richard Gower

5Hedge fund(s)Fund name: Armajaro Commodities FundInception date: 04/2004AUM: Not disclosedPortfolio manager: John TilneyStrategy: DiscretionaryAsset classes: CommoditiesDomicile: Cayman Islands

Fund name: CC+ FundInception date: 10/2007AUM: Not disclosedPortfolio manager: Anthony WardStrategy: DiscretionaryAsset classes: CommoditiesDomicile: Cayman Islands

Fund name: Armajaro Emerging Markets FundInception date: 08/2009AUM: Not disclosedPortfolio manager: Michel DanechiStrategy: DiscretionaryAsset classes: Long/short equityDomicile: Cayman Islands

Fund name: STS Commodities FundInception date: 01/2010AUM: Not disclosedPortfolio manager: Will GriffinStrategy: Trend-following systematicAsset classes: CommoditiesDomicile: Cayman Islands

Fund name: Armajaro Global Financials FundInception date: 10/2012AUM: Not disclosedPortfolio manager: Peter Walters, Mark EadyStrategy: DiscretionaryAsset classes: Long/short equityDomicile: Cayman Islands




49=

Sloane Robinson


2 2012 ranking32=

3Founded1993

4Founders/principalsHugh Sloane, George Robinson, Richard Chenevix-Trench, Ed Butchart, David Gale

5Hedge fund(s)Fund name: SR Global Fund (Class C) InternationalInception date: 01/1994AUM: $510.0mPortfolio manager: Hugh SloaneStrategy: Long/shortAsset classes: EquityDomicile: Cayman Islands

Fund name: SR Global Fund (Class G) Global OpportunitiesInception date: 03/1996 although re-mandated from Emerging Markets to Global Opportunities at the start of 2013AUM: $415.0mPortfolio manager: Richard Chenevix-TrenchStrategy: Long/shortAsset classes: EquityDomicile: Cayman Islands

Fund name: SR PhoeniciaInception date: 08/2001AUM: $130.0mPortfolio manager: Richard AthertonStrategy: Long/shortAsset classes: EquityDomicile: Cayman Islands

Fund name: SR Global Fund (Class H) JapanInception date: 10/2003AUM: $80.0mPortfolio manager: Alex Kydd, Hugh SloaneStrategy: Long/shortAsset classes: EquityDomicile: Cayman Islands

Fund name: SR Global Fund (Class N) Emerging Market EquityInception date: 01/2013AUM: $20.0mPortfolio manager: Ed Butchart, CJ MorrellStrategy: Long/shortAsset classes: EquityDomicile: Cayman Islands




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