1. May 2015 Evolution of the universe of Alternative UCITS funds

2. Evolution of AUM in Alternative UCITS funds LuxHedge : Tracks the performance and strategies of the rapidly growing universe of all alternative UCITS funds Analyses alternative UCITS strategies and reports a unique index benchmark for each strategy Provides consultancy services to clients in their research of the alternative UCITS universe Provides market data and intelligence based on individual fund performance and across strategies Brings together players in the alternative UCITS world Since its inception in 2012, LuxHedge has developed deep and comprehensive expertise across the universe of all European alternative UCITS funds 2

3. 3 Market breakdown As of April 30th, 2015, 6 strategies have €10B and more of AUM

4. 4 Evolution of AUM in the main UCITS Alternative strategies

5. Alternative UCITS Universe as of 30.04.2015 5

6. Florent Perret fp@luxhedge.com +352 26 44 01 70 36 www.luxhedge.com Disclaimer 6 This document has been prepared for information purposes for Institutional investors only. It doesn't constitute an offer or solicitation, or as the basis for any contract, for the purchase or sale of any investment, nor do they constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not authorized or to whom it is unlawful to make such solicitation or offer. It has been prepared on the basis of information and sources believed to be reliable. All reasonable care has been taken to ensure that the facts stated are accurate but LuxHedge S.A. shall not in any way be responsible for the contents. Past Performances are not necessarily indicative of future results. The LuxHedge website is an internet portal intended for informational purposes and based solely on information and data supplied either by own research, by investment managers or by other qualified third parties. It is exclusively addressed and intended for professional investors or industry service providers. Nothing contained on the LuxHedge website should be interpreted as a solicitation or inducement for an investment and reference to a particular investment manager, service provider or product under no circumstance represents an endorsement or recommendation by LuxHedge of that investment manager, service provider or product. A prospective investor for any product or service mentioned on the LuxHedge website should independently investigate the investment manager and/or service provider and consult with independent and qualified sources before engaging in any activity with them. Investors should also be aware that historical performance numbers presented on the LuxHedge website are not indicative of future performance and furthermore, investments in hedge fund vehicles involve significant risks, including loss of capital. Opinions expressed on the LuxHedge website are not necessarily those of LuxHedge and LuxHedge assumes no responsibility for the contents of contributed articles. LuxHedge expressly disclaims any and all responsibility for any direct or indirect loss and/or damage of any kind whatsoever arising directly or indirectly form (i) the use of information provided by the LuxHedge website, (ii) reliance on any information contained herein, (iii) any error, omission and/or inaccuracy, in any such information or (iv) any action resulting therefrom. The LuxHedge website and the tools and material contained therein are the property of LuxHedge S.A., a Luxembourg limited company, with registered office located at 370, route de Longwy, L-1940 Luxembourg and business licence number 10020133/0. 370, route de Longwy L-1940 Luxembourg LuxHedge: Contact information