Performance fee

http://breakingdownfinance.com Management fee

t Gross performance Gross NAV

100.00
Jan 1.09% 101.09 Jan
Feb 0.90% 102.00 Feb
Mar 0.28% 102.28 Mar
Apr 4.03% 106.41 Apr
May 0.26% 106.68 May
Jun -5.46% 100.85 Jun
Jul -5.56% 95.24 Jul
Aug -0.44% 94.82 Aug
Sep 3.10% 97.76 Sep
Oct 0.71% 98.46 Oct
Nov 0.99% 99.43 Nov
Dec -3.75% 95.70 Dec
Jan -0.25% 95.46 Jan
Feb -1.01% 94.49 Feb
Mar 1.06% 95.49 Mar
Apr 0.91% 96.36 Apr
May -0.79% 95.60 May
Jun -2.45% 93.25 Jun
Jul 0.73% 93.93 Jul
Aug 2.36% 96.15 Aug
Sep -0.01% 96.13 Sep
Oct -1.01% 95.16 Oct
Nov 0.94% 96.06 Nov
Dec 2.22% 98.18 Dec
Jan 7.31% 105.36 Jan
Feb 4.62% 110.22 Feb
Mar 4.12% 114.76 Mar
Apr 1.38% 116.35 Apr
May -0.06% 116.28 May
Jun 2.82% 119.56 Jun
Jul -0.36% 119.12 Jul
Aug -0.04% 119.08 Aug
Sep 1.20% 120.51 Sep
Oct 3.89% 125.20 Oct
Nov 1.04% 126.50 Nov
Dec 1.26% 128.10 Dec
 20.00%
2.00%

Annual crystallizatio
Accrued Incentive Incentive Fee
HWM
Fee Paid
Annual Crystallization 100.00
0 100.00 0.22 0.00
0 100.00 0.37 0.00
0 100.00 0.39 0.00
0 100.00 1.18 0.00
0 100.00 1.20 0.00
0 100.00 0.01 0.00
0 100.00 0.00 0.00
0 100.00 0.00 0.00
0 100.00 0.00 0.00
0 100.00 0.00 0.00
0 100.00 0.00 0.00
1 100.00 0.00 0.00
0 101.00 0.00 0.00
0 101.00 0.00 0.00
0 101.00 0.00 0.00
0 101.00 0.00 0.00
0 101.00 0.00 0.00
0 101.00 0.00 0.00
0 101.00 0.00 0.00
0 101.00 0.00 0.00
0 101.00 0.00 0.00
0 101.00 0.00 0.00
0 101.00 0.00 0.00
1 101.00 0.00 0.00
0 101.00 0.04 0.00
0 102.00 0.94 0.00
0 102.00 1.58 0.00
0 102.00 1.85 0.00
0 102.00 1.80 0.00
0 102.00 2.39 0.00
0 102.00 2.27 0.00
0 102.00 2.22 0.00
0 102.00 2.45 0.00
0 102.00 3.30 0.00
0 102.00 3.51 0.00
1 116.89 3.77 3.77
Annual crystallization
Management Fee Preliminary Investor
Net returns
Paid NAV NAV
100.00 100.00
0.17 101.09 100.92 0.92%
0.17 101.83 101.66 0.73%
0.17 101.95 101.78 0.11% H
0.17 105.88 105.71 3.87%
0.18 105.98 105.81 0.09%
140.00 G
0.18 100.03 99.85 -5.63% p
0.17 94.29 94.13 -5.73%
0.16 93.71 93.55 -0.61% 130.00
0.16 96.46 96.30 2.94%
0.16 96.99 96.83 0.55%
0.16 97.78 97.62 0.82% 120.00
0.16 93.96 93.79 -3.92%
0.16 93.56 93.40 -0.42% Asset Value
0.16 92.45 92.30 -1.18% 110.00
0.15 93.27 93.12 0.89%
0.16 93.96 93.81 0.74%
0.16 93.07 92.91 -0.96% 100.00
0.16 90.63 90.48 -2.62%
0.15 91.14 90.99 0.56%
0.15 93.13 92.98 2.19%
90.00
0.16 92.97 92.81 -0.18%
0.15 91.87 91.72 -1.18%
0.15 92.58 92.43 0.78%
80.00
0.15 94.48 94.32 2.05%
0.16 101.21 101.06 7.14%
0.17 105.72 105.55 4.45%
0.18 109.90 109.72 3.95%
0.18 111.24 111.06 1.22%
0.19 110.99 110.80 -0.23%
0.18 113.93 113.74 2.65%
0.19 113.33 113.14 -0.53%
0.19 113.10 112.91 -0.20%
0.19 114.27 114.08 1.04%
0.19 118.52 118.33 3.72%
0.20 119.56 119.36 0.88%
0.20 120.86 116.89 -2.07%
 Hedge funds - Gross versus net performance
140.00 Gross
performance

130.00

120.00

Value
110.00

100.00

90.00

80.00

Time (Month)
performance