Performance fee

http://breakingdownfinance.com Management fee

t Gross performance Gross NAV

100.00
Jan 2.30% 102.30 Jan
Feb 2.89% 105.26 Feb
Mar 2.68% 108.07 Mar
Apr -0.22% 107.83 Apr
May 2.93% 110.99 May
Jun -3.21% 107.43 Jun
Jul 0.80% 108.29 Jul
Aug 0.98% 109.35 Aug
Sep 3.90% 113.61 Sep
Oct -2.63% 110.63 Oct
Nov 1.44% 112.22 Nov
Dec 4.68% 117.48 Dec
Jan -1.84% 115.31 Jan
Feb -2.02% 112.98 Feb
Mar 1.87% 115.09 Mar
Apr -3.38% 111.21 Apr
May -0.82% 110.30 May
Jun 1.43% 111.87 Jun
Jul -2.22% 109.38 Jul
Aug 0.35% 109.77 Aug
Sep 2.77% 112.81 Sep
Oct 0.33% 113.18 Oct
Nov -1.90% 111.03 Nov
Dec 0.95% 112.09 Dec
Jan -5.05% 106.43 Jan
Feb 2.51% 109.10 Feb
Mar 0.95% 110.15 Mar
Apr 0.42% 110.60 Apr
May -3.08% 107.19 May
Jun 2.10% 109.44 Jun
Jul -1.02% 108.33 Jul
Aug 1.11% 109.53 Aug
Sep -3.59% 105.60 Sep
Oct 1.62% 107.30 Oct
Nov 0.00% 107.30 Nov
Dec 2.62% 110.12 Dec
 20.00%
2.00%

Annual crystallizatio
Accrued Incentive Incentive Fee
HWM
Fee Paid
Annual Crystallization 100.00
0 100.00 0.46 0.00
0 100.00 1.02 0.00
0 100.00 1.54 0.00
0 100.00 1.46 0.00
0 100.00 2.05 0.00
0 100.00 1.31 0.00
0 100.00 1.44 0.00
0 100.00 1.62 0.00
0 100.00 2.42 0.00
0 100.00 1.80 0.00
0 100.00 2.08 0.00
1 112.10 3.07 3.07
0 101.00 0.00 0.00
0 101.00 1.33 0.00
0 101.00 1.69 0.00
0 101.00 0.92 0.00
0 101.00 0.71 0.00
0 101.00 0.97 0.00
0 101.00 0.47 0.00
0 101.00 0.50 0.00
0 101.00 1.04 0.00
0 101.00 1.08 0.00
0 101.00 0.64 0.00
1 104.03 0.80 0.80
0 104.03 0.00 0.00
0 102.00 0.00 0.00
0 102.00 0.00 0.00
0 102.00 0.03 0.00
0 102.00 0.00 0.00
0 102.00 0.00 0.00
0 102.00 0.00 0.00
0 102.00 0.00 0.00
0 102.00 0.00 0.00
0 102.00 0.00 0.00
0 102.00 0.00 0.00
1 102.00 0.00 0.00
Annual crystallization
Management Fee Preliminary Investor
Net returns
Paid NAV NAV
100.00 100.00
0.17 102.30 102.14 2.14%
0.17 105.09 104.92 2.72%
0.18 107.72 107.55 2.51% H
0.18 107.31 107.13 -0.39%
0.18 110.27 110.09 2.76%
120.00 G
0.18 106.55 106.37 -3.38% p
0.18 107.22 107.04 0.64% 115.00
0.18 108.09 107.91 0.81%
0.18 112.12 111.94 3.74% 110.00
0.19 109.00 108.82 -2.79%
0.18 110.38 110.20 1.27%
0.18 115.36 112.10 1.73% 105.00
0.19 110.04 109.84 -2.01% Asset Value
0.18 107.63 107.44 -2.19% 100.00
0.18 109.45 109.27 1.70%
0.18 105.58 105.40 -3.54%
95.00
0.18 104.54 104.36 -0.99%
0.17 105.85 105.67 1.26%
0.18 103.33 103.15 -2.39% 90.00
0.17 103.51 103.34 0.19%
0.17 106.20 106.03 2.60% 85.00
0.18 106.38 106.20 0.16%
0.18 104.19 104.01 -2.07%
80.00
0.17 105.00 104.03 0.02%
0.18 98.77 98.60 -5.22%
0.16 101.08 100.91 2.35%
0.17 101.87 101.71 0.79%
0.17 102.13 101.96 0.25%
0.17 98.81 98.64 -3.25%
0.16 100.72 100.55 1.93%
0.17 99.53 99.36 -1.18%
0.17 100.46 100.30 0.94%
0.17 96.69 96.53 -3.76%
0.16 98.09 97.93 1.45%
0.16 97.92 97.76 -0.17%
0.16 100.33 100.16 2.46%
 Hedge funds - Gross versus net performance
120.00 Gross
performance
115.00

110.00

105.00
Value
100.00

95.00

90.00

85.00

80.00

Time (Month)
performance