Early Indicator – August Returns

NilssonHedge publishes an early indicator of Hedge Fund performance, based on a selected sample of daily funds and managers that have decided to report their returns early in the month. While we acknowledge that there may be biases in these numbers, the general direction of returns tends to be correct due to the use of actual funds. Equity markets strategies benefitted on the back of strong equity markets, while CTAs and Market Neutral managers had flat performance, on average.

CTA	Equity LS	Event Driven	Market Neutral
0.3%	2.8%	0.7%	-0.4%

The above data is sourced from our daily indices: https://nilssonhedge.com/index/daily-indices/.

We have captured over 750 funds for August and we are looking to keep you updated in the coming weeks. This data is now also available in our database and given the preliminary nature of the data, please expect errors and omissions. A data report can be found here: https://nilssonhedge.com/reports/nilsson-report/

Manager	Program	Current Month	Prior Month	YTD
Cyber Capital BV	Cyber Capital Fund A	36%	28%	236%
Odey	Absolute Return	13%	-6%	1%
Ravinia Investment Management	Algorithmic Multi Strategy	13%	-1%	51%
Purple Valley Capital	Diversified Trend 1	11%	27%	87%
Cederberg Capital	Greater China (Banor)	10%	10%	39%
Petrus Advisers	Special Situations	10%	-4%	-10%
Infusive	Consumer Alpha Global	9%	9%	33%
Algebris	Financial Equity Fund	9%	-5%	-24%
Brisslen Capital Management	Brisslen Energy Strategy	9%	-1%	-7%
Arcus	Japan Long Short	8%	-3%	-18%
H2O	Vivace	8%	-3%	-60%
Future Trade AG	Thales Swing Trading Programme	8%	14%	-8%
Merian	UK Dynamic Equity	8%	-2%	-10%
Liontrust	European Strategic	8%	-2%	-20%
Decalia	Muse	8%	6%	27%
JPMorgan	JPMorgan Opportunistic Equity L/S	7%	5%	16%
Toews	Toews Tactical Monument	7%	7%	36%
QQFundcom	Alpha Beta Program	7%	8%	84%
ABR	Dynamic Blend Equity & Volatil	7%	4%	60%
Cavalier	Cavalier Growth Opportunities	7%	8%	22%
Stadion	Tactical Defensive	7%	5%	-1%
Eclipse Capital Management	Global Monetary Program	7%	3%	27%
GPS	Sector Rotation Fund	7%	5%	11%
Natixis ASG	Natixis ASG Tactical US Market	7%	4%	-5%
Equinox Fund Management	Equinox Ampersand Strategy Fund	7%	7%	3%
Catalyst/Lyons	Catalyst/Lyons Tactical Allocation	7%	5%	13%
Veritas	China	7%	4%	47%
RESQ	Dynamic Allocation	7%	2%	2%
Waycross	Waycross Long/Short Equity	7%	3%	13%
ACR	Multi-Strategy Quality Ret (MQR)	7%	4%	-15%
Pinnacle	Multi-Strategy Core	7%	6%	14%
Artemis	Strategic Assets	7%	-6%	-18%
Charlemagne	Oaks Emerging and Frontier	7%	-5%	-24%
Sloane Robinson	Emerging (Keplar)	7%	5%	11%
PSI	Strategic Growth	7%	6%	14%
Spectrum Advisors	Preferred Investor	7%	5%	22%
Meeder	Muirfield	6%	4%	-5%
Horizon	Active Asset Allocation	6%	5%	2%
Salient	Salient Tactical Plus	6%	3%	4%
Teberg	Teberg	6%	6%	6%
Majedie	Tortoise	6%	-1%	0%
Eclipse Capital Management	Global Alpha	6%	0%	11%
Persimmon	Persimmon Long/Short	6%	3%	6%
Electron Capital Partners	Electron Global (Franklin K2)	6%	5%	4%
Cavalier	Cavalier Tactical Rotation	6%	2%	-9%
Hanlon	Tactical Dividend & Momentum	6%	4%	-2%
Caldwell & Orkin	Caldwell & Orkin – Gator Capital L/S	6%	3%	-27%
Hadron	Alpha Select	6%	12%	-9%
Swmc	European Fund	6%	-1%	-8%
Zeal	Greater China (Lumyna)	6%	3%	26%
Platinum	World Portfolios International	6%	3%	-4%
Gotham	Gotham Defensive Long 500	6%	3%	-6%
Weitz Partners III	Weitz Partners III Opportunity	6%	4%	-3%
CDAM	Global Opportunities (Keplar)	6%	5%	3%
Gotham	Gotham Hedged Core Institutional	6%	5%	7%
Navigator	Navigator Equity Hedged	6%	4%	10%
JanusHenderson	Horizon China	6%	11%	18%
Cavalier	Cavalier Tactical Economic	6%	4%	-5%
Carmignac	Portfolio Long Short Global Equities	6%	3%	7%
Newfound	Risk Managed US Sector	6%	5%	-6%
Goldman Management	Navigator Fund	6%	4%	-1%
Lombard Odier Investment Managers	Commodity Risk	6%	8%	-7%
Stadion	Tactical Growth	5%	5%	8%
Columbia	Columbia Adaptive Risk Allocation	5%	3%	5%
Arabesque	Systematic USA	5%	7%	5%
Kettle Hill	US Long Short	5%	1%	13%
Dorsey Wright	DWA Tactical	5%	6%	3%
Balter European	European L/S Small Cap	5%	2%	-3%
Dynamic	Dynamic US Opportunity	5%	5%	14%
Parus Finance	Equity Long Short (Rotschild)	5%	1%	8%
Neuberger Berman Group	Neuberger Berman Long Short	5%	2%	11%
James Alpha	James Alpha EHS Portfolio	5%	4%	6%
York	Event Driven (Lumyna)	5%	1%	7%
Antipodes	Global Fund	5%	4%	0%
Platinum	World Portfolios Asia	5%	9%	20%
Abbey Capital	Abbey Capital Multi Asset Fund	5%	4%	17%
Gotham	Gotham Total Return	5%	3%	-7%
AllianceBernstein	Select US Long/Short	5%	3%	5%
Swmc	Small Cap European	5%	2%	-6%
Anavon Capital	Global Equity (Tages)	5%	0%	0%
FundX	FundX Conservative Upgrader	5%	4%	5%
Toews	Toews Tactical Defensive Alpha	5%	4%	5%
Egerton	Egerton Equity (Schroders)	4%	5%	6%
WesMark	Tactical Opportunity	4%	4%	0%
GAM International Management	Star Alpha Spectrum	4%	1%	0%
Toews	Tactical Growth Allocation	4%	4%	24%
Matisse	Matisse Discounted Cl-End Fd Strat	4%	3%	-14%
Meeder	RiskPro Tactical 0-30	4%	3%	-2%
Gabelli	Global Rising Income and Div	4%	5%	-6%
New Capital	Strategic Portfolio	4%	5%	16%
Giano	LS Equity (ML)	4%	-2%	4%
PrivilEdge	Amber Event Europe	4%	1%	-4%
USAA	Target Managed Allocation	4%	6%	5%
Meeder	Meeder Balanced	4%	3%	-1%
Ardevora	Uk Equity	4%	-2%	-5%
Carmignac	Portfolio Long Short European Equities	4%	-2%	8%
GuidePath	Tactical Allocation	4%	3%	-3%
Absolute Investment Adv	Capital Opportunities	4%	-1%	7%
AllianceBernstein	Global Risk Allocation	4%	4%	2%
GAM International Management	Star Global Rates	4%	4%	-1%
Good Harbor	Tactical Select	4%	3%	-6%
Hundredfold	Select Alternative	4%	5%	24%
Calamos	Calamos Phineus Long/Short	4%	-4%	1%
Portland	Hill Catalyst Driven	4%	4%	6%
Nuveen	Nuveen Equity Long/Short	4%	2%	-1%
Allianz Global Investors	Global Dynamic Allocation	4%	4%	3%
Diamond Capital Management	Enhanced S&P Program	4%	4%	0%
Longboard	Longboard Alternative Growth	4%	6%	19%
Anchor Capital	Tactical Equity Strategies	4%	5%	15%
ACM	Dynamic Opportunity	4%	8%	14%
Diamond Hill	Diamond Hill Research Opportunities	4%	4%	-4%
Toews	Toews Tactical Oceana	4%	3%	17%
LoCorr Fund Management	Dynamic Equity	4%	1%	-9%
BNP Theam	Quant Dispersion US	4%	-2%	1%
Argonaut	Absolute Return	4%	3%	29%
H2O	Fidelio	4%	-6%	-14%
Toews	Toews Tactical Opportunity	4%	4%	23%
Auspice Capital Advisors	Broad Commodity Index	4%	4%	-4%
H2O	Allegro	4%	10%	-37%
Fintrust	Fintrust Income and Opportunity	4%	8%	1%
Chilton	Equity Long Short (Franklin K2)	4%	4%	1%
Goldman Sach Management	Growth & Inc Strat	4%	4%	5%
Lazard	Rathmore Alternative	4%	4%	8%
Thornburg	Thornburg Long/Short Equity	4%	0%	-10%
DoubleLine	Multi-Asset Growth	4%	4%	-3%
Lombard Odier Investment Managers	Terreneuve	4%	0%	10%
Salient	Salient Tactical Growth	3%	3%	8%
Roubaix Capital	Stars & Stripes (Prosper)	3%	1%	16%
Odey	European Focus Absolute	3%	-3%	-3%
DNCA Invest	Venasquo	3%	-1%	-2%
Schwab	Schwab Hedged Equity	3%	2%	-6%
Virtus KAR	Virtus KAR Long/Short Equity	3%	4%	14%
Nationwide	Nationwide Long/Short Equity	3%	3%	-1%
QS	Strategic Real Return	3%	5%	-4%
Absolute Capital	Asset Allocator	3%	4%	1%
361 Capital	Global Long/Short Equity	3%	6%	5%
Wellington	Technology (Franklin K2)	3%	1%	9%
Marketfield	Marketfield	3%	7%	5%
Gotham	Gotham Hedged Plus Institutional	3%	6%	1%
American Beacon	SSI Alternative Inc	3%	2%	6%
CRM	Long/Short Opportunities	3%	3%	9%
Levendi	Thornbridge Defined	3%	0%	-2%
Guggenheim	Guggenheim Long Short Equity	3%	3%	1%
JPMorgan	Multi Manager Sustainable	3%	2%	17%
VanEck	Managed Allocation	3%	3%	0%
361 Capital	Domestic Long/Short Equity	3%	6%	8%
Power	Power Momentum Index	3%	10%	-14%
Virtus Rampart	Multi-Asset Trend	3%	4%	-3%
JHancock	Hancock Seaport Long/Short	3%	2%	5%
Gabelli	Mergers & Acquisitions	3%	2%	-4%
First Quadrant LP	FQ Long-Short Equity	3%	1%	-8%
Hilton	Hilton Tactical Income	3%	3%	-5%
Newton	Multi Asset Diversified	3%	0%	0%
Lumyna	Enhanced Equity Volatility	3%	2%	-13%
Absolute Capital	Defender	3%	4%	2%
H2O	Multireturns	3%	-1%	-22%
Merian	UK Specialist Equity	3%	0%	10%
USAA	Managed Allocation	3%	3%	4%
WOA	All Asset I	3%	3%	-4%
Neuberger Berman Group	US Equity Put Write	3%	4%	2%
Kestrel	Global Portfolio	3%	4%	1%
FS Investments	Long/Short Equity	3%	-1%	-7%
Amundi Pioneer	Flexible Opportunities	3%	5%	-3%
Contour Asset Management	Tech Long/Short (Schroders)	3%	2%	26%
Clough Global	Clough Global Long/Short	3%	6%	11%
Securian AM	Securian AM Managed Volatility Eq	3%	1%	-8%
Anchor Capital	Tactical Global Strategies	3%	2%	5%
Neuberger Berman Group	US Long Short	3%	2%	7%
Unigestion	Cross Asset Navigator	3%	1%	-6%
GreenAsh	Multi Asset	3%	4%	3%
Ellington	Ellington Structured Credit (Franklin K2)	3%	3%	-6%
GAM International Management	Star Alpha Technology	3%	10%	6%
361 Capital	361 Global Managed Futures Strategy Fund	3%	-2%	-7%
Drury Capital	Diversified Trend-Following Program	3%	4%	8%
Allianz Global Investors	Discovery Europe Strategy	3%	-1%	1%
JK	Global Opportunities	3%	6%	15%
Threadneedle	Pan-European Absolute	3%	1%	5%
M&R Capital	Livestock Trading Program	3%	5%	-5%
Quantica Capital AG	Managed Futures Program 2x	3%	6%	-3%
Algebris	Asset Allocation	3%	1%	-6%
LS Opportunity	LS Opportunity Fund	3%	3%	-2%
Multi-Manager	Multi-Manager Directional Alt Strat	3%	2%	-8%
Advent Global	Advent Global Partners (ML)	3%	3%	8%
Mercantile Analytics and Trading	Global Diversified Commodity	3%	3%	9%
Cargo Investment Management	North America Long Short Equity (Banor)	3%	-2%	-14%
Chesapeake Capital Corporation	Equinox Chesapeake Strategy	3%	2%	-5%
Veritas	Global Real Return	3%	-1%	6%
Incline	Global Long Short	3%	2%	25%
Invesco	Balanced Risk 8	2%	3%	-1%
Schroders	European Alpha	2%	-1%	4%
Standard Life	Global Focused Strategies	2%	2%	3%
Eaton Vance	Global Macro	2%	0%	2%
Polar	Capital Global Absolute	2%	1%	13%
Diamond Hill	Diamond Hill Long-Short	2%	1%	-14%
Alger	Dynamic Opportunities	2%	5%	30%
Carmignac	Patrimoine	2%	2%	7%
Dynamic Beta Investments	Liquid Alternative (SEI)	2%	1%	2%
AQR Capital Management	Diversified Arbitrage	2%	2%	8%
AQR Capital Management	Delphi Long Short	2%	1%	2%
Trium	ESG Emissions Impact	2%	3%	9%
Kairos	Pegasus	2%	-4%	-16%
Ardevora	Global Equity	2%	1%	9%
Baillie Gifford	Baillie Gifford Multi Asset	2%	4%	0%
Invesco	Macro Allocation Strategy	2%	3%	-4%
Eaton Vance	Rich Bern All Asst Strat	2%	3%	6%
GAM International Management	Star Flexible Global	2%	1%	0%
Alger	Alger Dynamic	2%	5%	30%
EJF	Alpha Opportunities (IAM)	2%	-1%	-9%
Gotham	Gotham Absolute Return Institutional	2%	3%	-6%
Eleva	Absolute Return Europe	2%	1%	8%
AQR Capital Management	Long-Short Equity	2%	1%	-14%
Oyster	Global Convertible	2%	3%	5%
Stein Investment Management	Trading Evolution	2%	2%	12%
Goldman Sach Management	Goldman Sachs Mngd Futures Strat Instl	2%	1%	2%
Leuthold	Core Investment	2%	4%	5%
Newfound	Multi-Asset Income	2%	4%	-8%
RiverPark	RiverPark Long/Short Opportunity	2%	6%	40%
Plurimi Investment Managers	Global Macro (Prosper)	2%	-3%	1%
York	Asian Event (Lumyna)	2%	4%	12%
MFM	Global Thematic Long Short	2%	1%	1%
Pictet	Mandarin	2%	6%	20%
Tom Capital AG	Moderate Model Portfolio	2%	3%	-19%
Auspice Capital Advisors	Auspice Diversified	2%	3%	9%
JanusHenderson	Horizon Pan European Alpha	2%	3%	1%
AQR Capital Management	Risk Parity II HV	2%	5%	-2%
Lazard	Opportunistic Strategies	2%	3%	5%
GAM International Management	Systematic Dynamic Credit	2%	1%	-3%
Wilmington	Wilmington Global Alpha Equities	2%	3%	-1%
Algebris	Global Credit Opportunities	2%	1%	7%
Goldman Sachs	Absolute Return	2%	2%	-1%
Lupus	Alpha Volatility Risk	2%	2%	-12%
Blackrock	UK Emerging Companies	2%	3%	9%
Newton	Real Return	2%	4%	3%
Cognios	Cognios Market Neutral Large Cap	2%	1%	2%
Goldman Sach Management	Balanced Strategy	2%	3%	5%
H2O	Adagio	2%	1%	-5%
Lombard Odier Investment Managers	Fundamental Equity	2%	4%	2%
Hancock Horizon	Hancock Horizon Quant Long/Short	2%	4%	-6%
Columbia	Managed Futures Strategy Fund	2%	2%	-2%
Legg Mason	Brandywine Global Enhanced Absolute Return	2%	4%	-13%
AQR Capital Management	Multi-Asset	2%	3%	-3%
Tyrus Capital	Global Convertible	2%	3%	5%
Bridgewater	Core Global	2%	3%	-7%
Beech Hill	Beech Hill Total Return	2%	3%	1%
PIMCO	PIMCO RAE Worldwide Long/Short PLUS	2%	0%	-15%
AQR Capital Management	Style Premia	2%	-2%	-22%
Sanlam	Real Return	2%	3%	-4%
Bellevue	Global Macro	2%	-1%	-2%
James Alpha	James Alpha Relative Value	2%	3%	-1%
Assenagon	Alpha Volatility	2%	-2%	18%
Latitude	Horizon	2%	1%	1%
MS	Inv Liquid Alpha	2%	3%	5%
UBS	Global Equity Long Short	2%	0%	1%
AdvisorOne	CLS Shelter	2%	2%	-12%
Platinum	World Portfolios Japan	2%	1%	-11%
Melissinos Trading	Eupatrid Commodity	2%	-3%	-14%
Boston Partners	Boston Partners Long/Short Rsrch	2%	1%	-16%
Graham Capital Mgmt LP	Tactical Trend	2%	6%	-1%
Fort Point Capital Partners	Tactical Alpha	2%	0%	3%
Auspice Capital Advisors	Managed Futures Index	2%	2%	3%
PanAgora	Risk Parity	2%	4%	7%
Gotham	Gotham Neutral 500	2%	0%	-7%
Crow Point	Crow Point Global Tactical Alloc	2%	1%	-5%
Catalyst Funds	Systematic Alpha	2%	7%	3%
Snow Capital	Snow Capital Long/Short Opportunity	2%	1%	-20%
Anavon Capital	Absolute Alpha	2%	-2%	-2%
JanusHenderson	European Absolute	2%	3%	2%
AXA Chorus	World Funds Multi Strategy	2%	3%	4%
DNCA Invest	Miuri	2%	-1%	1%
AMG	River Road Long-Short	2%	2%	-5%
ValuTrac	Icf Absolute	2%	0%	-1%
KiteLake	Event Driven	2%	1%	2%
AQR Capital Management	Risk Parity II MV	2%	3%	-1%
JPMorgan	Global Macro Opportunities	2%	1%	7%
CZ	Absolute Alpha	2%	-1%	-6%
Lombard Odier Investment Managers	Event Convexity	2%	0%	4%
Astor	Astor Dynamic Allocation	2%	3%	-5%
CMG	Mauldin Core	2%	4%	-1%
Allianz Global Investors	Volatility Strategy	2%	2%	-8%
Lazard	Emerging Markets Total	2%	2%	9%
Lomas Capital Management	Long Short Us Equity (Keplar)	2%	0%	-14%
Water Island	Water Island Diversified Event-Driven	2%	1%	5%
New Capital	Capital All Weather	2%	1%	1%
Pacific	G10 macro rates	2%	0%	9%
Auspice Capital Advisors	Tactical Futures	2%	3%	6%
Hancock Horizon	Dynamic Asset Allc	2%	4%	2%
Dunn Capital Management	Managed Futures Strategy (Arrow)	2%	-2%	-4%
Franklin K2	Alternative Strategies	2%	2%	1%
Maverick	QM Neutral (GS)	2%	6%	8%
Counterpoint	Counterpoint Tactical Equity	1%	1%	-21%
Hancock Horizon	Diversified Income	1%	3%	-8%
Absolute Investment Adv	Convertible Arbitrage	1%	2%	6%
Osmosis	More World Sustainable	1%	1%	5%
Aberdeen	Global Absolute Return	1%	2%	4%
Allianz Global Investors	Fixed Income Macro	1%	1%	9%
HSBC	Advantedge	1%	2%	2%
PIMCO	Em Mkts Ccy and S/T Invsmt (daily)	1%	2%	-3%
Protea	Crawford Lake US Equities	1%	1%	-13%
SEI	Multi-Asset Accumulation	1%	4%	0%
Blackrock	Global Long Short	1%	-1%	5%
Lyxor	Arma 8	1%	3%	6%
Caerus Group	Oil Futures Trading Program	1%	-3%	-15%
Lupus	Alpha Volatility Invest	1%	1%	-6%
Invenomic	Invenomic Institutional	1%	0%	-8%
Twelve	Falcon ILS Strategy	1%	1%	4%
JPMorgan	Multi Manager Alternatives	1%	1%	5%
Quantica Capital AG	Managed Futures Program	1%	3%	0%
Bantleon	Event Driven Equities	1%	1%	-1%
LFIS	Vision Perspective	1%	0%	1%
Pictet	Atlas	1%	3%	9%
Carillon Cougar	Carillon Cougar Tactical Allocation	1%	3%	5%
Numen	Credit (HI)	1%	0%	12%
Neuberger Berman Group	Absolute Return	1%	2%	3%
UBS	Equity Opportunity	1%	4%	13%
Lupus	Alpha All Opportunities	1%	1%	-1%
Odey	Portfolio	1%	0%	-8%
JPMorgan	JPMorgan Research Market Neutral	1%	1%	11%
Investec	Enhanced Natural Resources	1%	2%	-5%
Westwood	Westwood Market Neutral Income Instl	1%	2%	4%
Aviva	Investors Global Convertibles	1%	3%	5%
Jupiter	Merlin Real Return	1%	2%	-1%
GuidePath	Managed Futures Strat	1%	5%	10%
CrossBorder Capital	AR Systematic Macro Strategy	1%	-6%	1%
Gabelli	Gabelli ABC	1%	1%	0%
James Alpha	Macro	1%	4%	-3%
Nordea Asset Management	Nordea 1  Alpha 15 MA Fund	1%	2%	9%
AXA Chorus	Systematic Macro	1%	1%	-2%
Muzinich	European Credit Alpha	1%	2%	2%
Oyster	Equity Premia Global	1%	2%	0%
Astor	Astor Sector Allocation	1%	2%	-8%
Anima	Star High Potential Europe	1%	0%	9%
Man AHL	AHL TargetRisk Fund	1%	2%	2%
BNY Mellon Asset Management	Absolute Return	1%	1%	4%
Metori Capital Management	Epsilon Global Trend (Lyxor)	1%	1%	8%
AXA Chorus	World Funds	1%	2%	8%
GAM International Management	Star Lux Convertible	1%	2%	-5%
IPM Informed Portfolio Management	IPM Systematic Macro	1%	5%	-5%
Goldman Sachs	Global Multi	1%	3%	4%
Two Sigma Investments LP	Diversified (Schroders)	1%	0%	-3%
AmericaFirst	AmericaFirst Defensive Growth	1%	9%	-8%
Secquaero Advisors	Cat Bond (Schroders)	1%	1%	3%
Guggenheim	Guggenheim Alpha Opportunity	1%	1%	-2%
New Mountain	Vantage (ML)	1%	1%	-14%
Blackstone	Diversified Multi-Strategy	1%	1%	-10%
ProFunds	Falling US Dollar (daily)	1%	4%	2%
PIMCO	All Asset	1%	3%	-2%
Cheyne	Enhanced Global Credit	1%	1%	-3%
Gamco	Merger Arbitrage	1%	1%	1%
Invesco	Global Absolute Return	1%	-1%	-9%
Blackrock	Asia-Pacific Diversified	1%	4%	10%
Blackrock	Emerging Markets Absolute	1%	-5%	-23%
Threadneedle	American Absolute Alpha	1%	-1%	-1%
Black and White Capital	Innovation	1%	-1%	5%
ADG Capital Management	ADG Systematic Macro	1%	2%	-9%
Insight	Global Absolute Return	1%	2%	-6%
SEI	Multi-Asset Income	1%	4%	0%
Blackrock	Event Driven Equity	1%	1%	3%
Causeway	Causeway Global Absolute Return Instl	1%	1%	-26%
JPMorgan	Global Macro Sustainable	1%	0%	4%
Wellington	US Equity Long	1%	6%	12%
Man AHL	American Beacon AHL Mgd Futs Strat Instl	1%	2%	6%
RV Capital	Asia Opportunity	1%	1%	4%
Bluebay	Emerging Market Unconstrained	1%	2%	6%
Forester	Forester Value	1%	-2%	1%
Threadneedle	UK Absolute Alpha	1%	-1%	-9%
Victory	Victory Market Neutral Income	1%	0%	4%
Highland	Highland Long/Short Healthcare	1%	4%	8%
Man GLG	GLG Credit Multi	1%	1%	4%
EMC Capital Advisors	EMC Balance Program	1%	2%	1%
PIMCO	GIS Mortgage Opportunities	1%	1%	2%
Entrust	Global Alternative Income	1%	3%	-1%
Lazard	European Alternative	1%	0%	2%
Man GLG	GLG Event Driven	1%	2%	4%
Glenmede	Quant US Long/Short Equity	1%	1%	-8%
Midocean	Absolue Return Credit (Alma)	1%	5%	4%
IMS	Strategic Income	1%	3%	-5%
Blackrock	Americas Diversified Equity	1%	-1%	4%
Man GLG	GLG Global Convertibles	1%	1%	6%
Premier	Multi Asset Absolute	1%	0%	-2%
Sycomore	LS Opportunities	1%	-1%	-4%
Merian	UK Opportunities	1%	-1%	2%
PIMCO	Select Unconstrained Bond	1%	1%	0%
361 Capital	361 Managed Futures Strategy Fund	1%	1%	-15%
Vontobel	Absolute Return Bond	1%	1%	2%
Fulcrum Asset Management	Diversified Liquid Alternatives	1%	3%	-2%
Unigestion	Alternative Risk	1%	0%	-17%
Merian	Strategic Absolute Return	1%	1%	8%
GuidePath	Flexible Income Allc	1%	2%	5%
Boston Partners	Boston Partners Long/Short Equity	1%	1%	-11%
Laffitte	Dynamic Strategies	1%	1%	-21%
Legal & General	Dynamic Bond	1%	2%	6%
Standard Life	Absolute Global Bond	1%	1%	2%
EMC Capital Advisors	Alpha Plus Program	1%	2%	4%
Power	Global Tactical Allc/JAForlines	1%	4%	-7%
Mygale	Event Driven (ML)	1%	1%	-2%
UBS	Dynamic Alpha	1%	3%	-1%
Absolute Insight	Credit	1%	0%	-2%
Trojan	Fund	1%	1%	7%
PSI	Tactical Growth	1%	-1%	-6%
Anima	Star High Potential Italy	1%	0%	-9%
Aberdeen	HFRI Liquid	1%	1%	-2%
WG Wealth Guardian	SAFI2 Program	1%	2%	10%
TT	European Opportunities Long Short	1%	2%	11%
Cheyne	Global Credit	1%	1%	-2%
EMC Capital Advisors	EMC Classic Program	1%	2%	18%
Hermes	Absolute Return	1%	1%	-1%
Aviva	Investors Multi Strategy Target Income	1%	1%	-6%
Cantab Capital Partners	CCP Core Macro	1%	4%	-4%
HSBC	Gif Gem Debt	1%	3%	1%
Berenberg	Dymacs Volatility Premium	1%	2%	-24%
Goldman Sachs	Alternative Trend	1%	2%	0%
Robeco	QI Long Short	1%	0%	-3%
7im	Real Return	1%	0%	-2%
Credit Suisse Asset Management	Small and Mid Cap Long Short Alpha	1%	2%	11%
Emso	Emerging Markets Absolute	1%	0%	-7%
Pictet	Akari	1%	2%	-2%
Blackrock	Global Event Driven	1%	1%	3%
M & G Investment Management	Dynamic Allocation	1%	2%	-7%
Aberdeen	Target Return Bond	1%	2%	2%
Feri	Optoflex	1%	1%	4%
Kames	Absolute Return Bond	1%	1%	1%
Man GLG	GLG US Absolute	1%	4%	16%
Nordea Asset Management	Nordea 1  Alpha 10 MA Fund	1%	1%	6%
Dalton Strategic Partnership	Velox	1%	2%	2%
EMC Capital Advisors	Alpha Program	1%	1%	5%
GAM International Management	Star Cat Bond	1%	1%	3%
Blackrock	Global Absolute Return	1%	1%	1%
Syquant	Helium Selection	1%	0%	-1%
Threadneedle	Global Investment	1%	1%	0%
Fidelity	Absolute Return Asian	1%	2%	2%
Smith & Williamson	Enterprise	1%	0%	-3%
JanusHenderson	Global Equity	1%	0%	6%
Memnon	Market Neutral	1%	2%	-4%
Wellington	Pagosa (Schroders)	1%	1%	1%
Fulcrum Asset Management	Diversified Absolute Return	1%	2%	5%
Invesco	Global Targeted Returns	1%	-1%	-2%
Man GLG	GLG Innovation Equity	1%	4%	14%
Pareturn	Gladwyne Absolute Credit	1%	2%	-10%
Capital Fund Management	IS Trends Fund InRIS	1%	2%	-1%
Man GLG	GLG Alpha Select	1%	1%	4%
Schroders	Gaia Helix	1%	2%	4%
Water Island	Arbitrage	1%	1%	2%
Threadneedle	Credit Opportunities	1%	1%	-1%
Lombard Odier Investment Managers	Cat Bonds	1%	1%	3%
Blackrock	Strategic Funds Fixed	0%	1%	1%
Securis	Catastrophe Bond	0%	1%	4%
BNP Theam	Quant Volatility	0%	1%	-21%
Gateway	Target Beta	0%	1%	-12%
Blackrock	Macro Opportunities	0%	0%	-1%
Credit Suisse Asset Management	Prima Multi-Strategy	0%	1%	2%
FS Investments	Event Driven	0%	2%	-2%
Nomura	Diversified Absolute Return	0%	1%	-2%
Selwood	Market Neutral Credit (Alma)	0%	0%	-1%
Fulcrum Asset Management	Fulcrum Diversified	0%	2%	3%
SilverPepper	SilverPepper Merger Arbitrage	0%	0%	-7%
Trend Capital Management	Trend Macro (U Access)	0%	0%	7%
Global Credit Advisers	Long/Short Credit (U Access)	0%	1%	5%
Octopus	Global Strategies	0%	1%	-2%
Legg Mason	Western Asset Macro Opp	0%	4%	2%
Azimut	Strategic Trend	0%	-1%	-7%
Legg Mason	Brandywine Global Credit Opportunities	0%	0%	-7%
Man GLG	GLG European Equity	0%	1%	2%
Marble Bar Asset Management	Chelodina (ML)	0%	2%	6%
Muzinich	Long Short Credit	0%	2%	4%
Leadersel	Event Driven	0%	1%	-3%
Man AHL	AHL Trend Alternative	0%	3%	-2%
LoCorr Fund Management	LoCorr Macro Strategies	0%	3%	3%
Tenax	Absolute Return Strategies (Church House)	0%	1%	0%
Invesco	Global Targeted Returns (Lux)	0%	-1%	-2%
Lazard	Diversified Return	0%	2%	-2%
JPMorgan	Income Opportunity	0%	1%	-1%
Merger	Merger	0%	1%	1%
Chenavari	Credit Strategy (Lyxor)	0%	1%	4%
Kames	UK Equity Absolute	0%	0%	3%
Liontrust	Absolute Return	0%	1%	3%
JanusHenderson	Horizon Total	0%	1%	4%
Tungsten	Pariton ui	0%	1%	-5%
Danske Bank Asset Management	Danske Invest Eastern Europe Absolute	0%	-3%	-5%
SMI	Dynamic Allocation	0%	7%	11%
Bardin Hill	Arbitrage (Franklin K2)	0%	1%	1%
Jaguar Investments	Aegir Capital Strategy	0%	1%	24%
Highland	Highland Merger Arbitrage	0%	1%	4%
Pictet	Corto Europe Long Short	0%	1%	4%
Syquant	Helium Opportunities	0%	0%	-1%
Syquant	Helium Performance	0%	0%	-2%
RAM	Long Short European	0%	3%	-4%
Blackrock	European Absolute Alpha	0%	2%	10%
Legg Mason	Brandywine Global Fixed Income Absolute Return	0%	3%	2%
Salus Alpha Capital	Global Alpha (GAX)	0%	0%	15%
DCI	Market Neutral Credit	0%	0%	3%
Insight	Absolute Return Bond	0%	1%	0%
AmericaFirst	AmericaFirst Income	0%	2%	-15%
Blackrock	Asia-Pacific Absolute	0%	2%	6%
JanusHenderson	Multi Asset	0%	-1%	-1%
Mainfirst	Contrarian Opportunities	0%	-1%	-10%
JHancock	Diversified Strategies	0%	1%	0%
Syquant	Helium	0%	0%	-1%
Xaia	Credit Basis	0%	0%	0%
KLS Diversified	KLS Fixed Income (Lumyna)	0%	2%	-13%
Man AHL	AHL Diversity Alternative	0%	2%	-1%
Crediton Hill	Managed Account	0%	0%	2%
MacQuarie	Global Income Opportunities	0%	1%	1%
Metzler	Alternative Multi Strategy	0%	0%	-16%
Gotham	Gotham Master Neutral	0%	1%	-5%
Quantology	Absolute Return	0%	0%	5%
RWC	Pensato Europa Absolute	0%	1%	6%
Winton Capital Management	Winton Trend Fund	0%	1%	2%
Duet Group	Emim Africa (HI)	0%	9%	6%
Rational Advisors	Rational/ReSolve Adaptive Asset Allc	0%	2%	-5%
Xaia	Credit Basis II	0%	1%	1%
Amundi	Global Macro Bonds Low Vol	0%	0%	-3%
Invesco	Invesco Global Market Neutral	0%	-1%	-8%
Alken	Absolute Return	0%	-2%	-10%
Blackrock	Global Long Short UCITS	0%	0%	6%
Burren	Global Arbitrage (ML)	0%	0%	-1%
M & G Investment Management	Absolute Return	0%	1%	-1%
Boston Partners	Boston Partners Emerging Mkts L/S	0%	4%	2%
Salus Alpha Capital	Commodity Arbitrage (CAX)	0%	1%	11%
WG Wealth Guardian	Strategic Volatility Master Program	0%	5%	2%
Allianz Global Investors	Event Driven Strategy	0%	1%	0%
Graham Capital Mgmt LP	Graham Macro UCITS	0%	5%	11%
LFIS	Vision Premia	0%	1%	-10%
Counterpoint	Convergence Long/Short Equity	0%	0%	-13%
Bluebay	Investment Grade Absolute	0%	1%	1%
Vivaldi	Vivaldi Merger Arbitrage	0%	0%	-1%
Amundi	Absolute Volatility Euro	0%	1%	20%
Seven Seas	Alpha Japan Neutral (Permal)	0%	0%	-6%
Schroders	UK Dynamic Absolute	0%	-1%	-9%
Eaton Vance	Diversified Currency	0%	3%	4%
Sirios	Sirios Long/Short	0%	4%	-5%
Royal London	Absolute Return	0%	1%	1%
Tages	Paladin	0%	0%	9%
Catalyst Capital Advisors	Multi-Strategy	0%	3%	-2%
Absolute Insight	Multi Strategy	0%	1%	-3%
Candriam Investors Group	Long Short Credit	0%	1%	0%
Hussman	Strategic Total Return	0%	2%	12%
PSAM	Global Event (Lumyna)	0%	-2%	1%
Aspect Capital Limited	Aspect Systematic Global Macro	0%	-3%	1%
Abbey Capital	Abbey Capital Futures Strategy	0%	1%	4%
Nuveen	Nuveen Equity Market Neutral	0%	-2%	-9%
Dunn Capital Management	DUNN WMA Institutional (ML Capital) UCITS B	0%	-1%	-2%
HPX Financial	Old School Program	0%	0%	4%
Probabilities	Probabilities	0%	5%	-17%
Eraam	Premia Low Vol	0%	0%	-10%
Tellworth	European Market Neutral	0%	2%	4%
PIMCO	All Asset All Authority	0%	3%	-6%
Prentice Capital	Equity Long Short (Rotschild)	0%	5%	19%
Roxbury	Credit Events	0%	1%	0%
Allianz Global Investors	Merger Arbitrage Strategy	0%	0%	-2%
Artemis	Us Absolute Return	0%	0%	-2%
SEB Group	Asset Selection	0%	2%	-6%
Blackrock	European Absolute Return	0%	2%	9%
Warrington Asset Management	Strategic	0%	0%	1%
LLB	Alternative Strategy Global	0%	1%	-5%
Absolute Insight	Emerging Markets	0%	1%	-2%
Sandler	US Equity (Lyxor)	0%	2%	10%
Candriam Investors Group	Index Arbitrage	0%	0%	2%
Pzena	Pzena Long/Short Value	0%	-1%	-28%
Laffitte	Risk Arbitrage	0%	1%	-7%
Tresides	Total Return Commodities	0%	-2%	-7%
Invesco	Global Targeted Income	0%	-1%	-2%
Fidelity	Absolute Return Multi	0%	1%	2%
JanusHenderson	United Kingdom	0%	0%	2%
7im	Absolute Return Portfolio	0%	-2%	-2%
Hussman	Hussman Strategic International	0%	0%	-3%
Absolute Insight	Currency	0%	0%	0%
Ocean Areto	Arete Macro (Keplar)	0%	0%	8%
Man GLG	GLG European Mid	0%	-1%	-3%
Odey	Swan	0%	-2%	-15%
Red Rock Capital	Systematic Global Macro	0%	2%	-5%
Exane	Ceres	0%	-1%	1%
BMO	Real Estate Equity	0%	1%	5%
Absolute Insight	Equity Market	0%	1%	0%
Kinkopf Capital Management	S&P Select Program	0%	0%	16%
Lake Geneva Investment Partners	Fixed Income Allocator	0%	0%	5%
Manulife	Asian Bond Absolute	0%	1%	0%
GAM International Management	Multistock Absolute Return	0%	2%	0%
Aviva	Investors Multi Strategy Target Returns	0%	1%	-1%
Insight	Absolute Return Equity	0%	1%	0%
MarshallWace	MW Tops	0%	3%	5%
Schroders	Isf Alternative Risk	0%	1%	-17%
Sibilla Capital	Sibilla Macro (HI)	0%	1%	-11%
Amundi	Global Macro Forex	0%	0%	-3%
RAM	Long Short Emerging	0%	2%	-9%
Finlabo	Dynamic Equity	0%	1%	-11%
GAM International Management	GAM Systematic Alternative Risk Premia	0%	1%	-4%
Kellner	Kellner Merger	0%	2%	-2%
Fort LP	Global Futures	0%	2%	-3%
GAM International Management	Star Lux European	0%	3%	0%
ATAC	ATAC Rotation Investor	0%	5%	42%
Allianz Global Investors	Managed Futures Strategy	0%	1%	-8%
Aberdeen	Alternative Risk Premia	0%	3%	-16%
GAM International Management	Star Emerging Market	0%	1%	7%
Longboard Asset Management LP	Managed Futures Strategy	0%	0%	-3%
Xaia	Credit Debt Capital	0%	1%	2%
Eraam	Long Short Equity	0%	1%	-5%
Tellworth	Tellworth / Sanditon Uk Select	0%	3%	10%
Lutetia	Patrimoine	0%	2%	-14%
Unigestion	Cross Asset Trend Follower	0%	1%	-5%
AmericaFirst	AmericaFirst Tactical Alpha	0%	3%	-8%
Seven	Diversified Fund	0%	2%	1%
Putnam PanAgora	Putnam PanAgora Market Neutral	0%	2%	-5%
Legg Mason	Martin Currie Abs Alpha	0%	2%	-10%
IAM	Core Defensive	0%	-1%	-11%
M & G Investment Management	Episode Macro Fund	0%	1%	0%
Rubrics	Global Fixed Income	0%	1%	6%
Sanlam	Managed Risk	0%	0%	-10%
Amundi	Global Macro Bonds	0%	1%	-1%
Jupiter	Europa	0%	-1%	-4%
John Locke Investments	Equity Market Neutral	0%	1%	-2%
MProved Systematic	MProved Systematic Merger Arbitrage	0%	0%	-2%
Amapa Capital Advisors	Amapa Investment Program	0%	-1%	5%
Ruffer	Total Return	0%	1%	6%
Exane	Overdrive	0%	-1%	7%
Gresham Investment Management	Managed Futures Strat	0%	2%	2%
TRYCON GCM	Tungsten Trycon Basic	0%	1%	4%
Unigestion	Alternative Equities	0%	-1%	-16%
Pictet	Diversified Alpha	0%	3%	5%
AQR Capital Management	Systematic Total Return	0%	1%	-15%
Tiedemann	Arbitrage Strategy (Lyxor)	0%	1%	-1%
MarshallWace	MW Tops Market Neutral	-1%	2%	5%
Alpine	Merger Arbitrage	-1%	2%	-5%
MFS	MFS Managed Wealth	-1%	1%	4%
Salus Alpha Capital	Directional Markets (DMX)	-1%	0%	5%
Blackrock	UK Equity Absolute	-1%	-1%	-2%
Issachar	Issachar	-1%	6%	23%
Sandbar	Global Equity Market Neutral (Lumyna)	-1%	1%	6%
Bluebay	Global Sovereign Opportunities	-1%	1%	-4%
Manulife	Absolute Return Rates	-1%	-1%	0%
Shannon River	Long/Short Technology (U Access)	-1%	1%	13%
Fort LP	Global Equity	-1%	0%	-8%
LFIS	Vision Credit	-1%	0%	3%
Tianyou Asset Management	Tianyou Fund	-1%	6%	-30%
Fort LP	Global Contrarian UCITS	-1%	1%	-1%
Amundi	Absolute Volatility World	-1%	-1%	26%
Ramius	Merger Arbitrage (Lumyna)	-1%	2%	-4%
LGT Capital Partners	LGT Alpha Generix	-1%	3%	5%
FS Investments	Managed Futures	-1%	0%	10%
Blackrock	UK Absolute Alpha	-1%	-1%	-2%
Invesco	Global Equity Market	-1%	-2%	-19%
Transtrend BV	Tulip Trend Fund UCITS	-1%	5%	-8%
Pictet	Kosmos	-1%	0%	11%
Allianz Global Investors	Multi Asset Long Short	-1%	4%	-7%
Fulcrum Asset Management	Fulcrum Risk Premia	-1%	2%	-19%
Pictet	Agora	-1%	-1%	2%
Allianz Global Investors	Multi Asset Risk Premia	-1%	0%	-7%
Blackrock	Style Advantage	-1%	-1%	-19%
Boussard Gavaudan	Absolute Return	-1%	1%	-1%
Merian	Global Equity Absolute	-1%	1%	-4%
Fort LP	Global Trend UCITS	-1%	2%	2%
Trium	European Equity Market	-1%	0%	-6%
Fort LP	Global Diversified UCITS	-1%	2%	-10%
AQR Capital Management	Managed Futures UCITS	-1%	-1%	-2%
First Quadrant LP	FQ Macro FX – 10% Risk	-1%	4%	22%
Boston Partners	Partners Global Long/Short	-1%	2%	-10%
Capital Fund Management	Diversified	-1%	0%	-20%
M & G Investment Management	Global Target	-1%	1%	1%
American Century	Market Neutral Val	-1%	-1%	-4%
Quality Capital Management	Global Diversified	-1%	4%	29%
UBS	Currency Allocation Return	-1%	7%	-13%
Wellington	Global Currency Absolute	-1%	-4%	-3%
Melchior	European Absolute return	-1%	1%	-2%
MarshallWace	MW Liquid	-1%	2%	7%
Schroders	Isf European Equity	-1%	0%	2%
John Locke Investments	Cyril Systematic UCITS Fund	-1%	4%	11%
Lutetia	Absolute Return	-1%	-1%	-7%
Superfund Capital Management	Managed Futures Strategy	-1%	6%	11%
Conservative Concept AG	Athena UI (UCITS)	-1%	-1%	4%
BNP Theam	Absolute Alpha	-1%	1%	-5%
Guggenheim	Guggenheim Market Neutral	-1%	4%	9%
Tendance Finance	Next AM Fund	-1%	0%	18%
PIMCO	Trends Composite	-1%	3%	5%
LGT Capital Partners	LGT Sustainable Equity Market	-1%	1%	2%
Salus	Alpha Directional Markets	-1%	-1%	10%
AQR Capital Management	Equity Market Neutral	-1%	-2%	-15%
RG Tactical Market Neutral Institutional	RG Tactical Market Neutral Institutional	-1%	-3%	-16%
Wharton Capital Management	Agricultural Futures	-1%	-3%	1%
Scharf	Scharf Alpha Opportunity	-1%	1%	-8%
Otter Creek	Otter Creek Long/Short Opportunity	-1%	6%	3%
Cheyne	Cheyne Arbitrage (U Access)	-1%	3%	-4%
Quantitative Investment Management	Global Program	-1%	-2%	-10%
Neuberger Berman Group	Uncorrelated Strategies	-1%	-1%	4%
QS	QS Global Market Neutral	-1%	2%	-2%
Allianz Global Investors	Japan Equity Long Short	-1%	2%	1%
BPI	Alternative Iberian Equities	-1%	0%	0%
DWS	Gold Plus	-1%	5%	20%
Transtrend BV	Standard Risk	-1%	4%	0%
Lombard Odier Investment Managers	Alternative Risk Premia	-1%	0%	-4%
Millburn Ridegfield Corporation	Diversified Program	-1%	3%	-14%
JPMorgan	Systematic Alpha	-1%	1%	-18%
Eraam	Premia	-1%	1%	-21%
Quest Partners	AlphaQuest (ML Capital)	-2%	2%	6%
Man GLG	GLG UK Absolute Value	-2%	-1%	-2%
Convergence	Convergence Market Neutral	-2%	2%	-11%
ProFunds	Rising US Dollar (daily)	-2%	-4%	-6%
AQR Capital Management	AQR Managed Futures	-2%	1%	0%
Transtrend BV	Enhanced Risk	-2%	6%	1%
BNP Theam	Quant Multi	-2%	0%	-14%
PIMCO	PIMCO RAE Fundamental Advantage PLUS	-2%	-1%	-15%
Melchior	European Enhanced Absolute	-2%	2%	-6%
LoCorr Fund Management	Long/Short Commodity Strats	-2%	0%	9%
RAM	Long Short Global	-2%	6%	0%
Crabel Capital Mgmt	Crabel Advanced Trend	-2%	2%	11%
Neuberger Berman Group	Absolute Alpha	-2%	5%	-3%
Equinox Fund Management	MutualHedge Futures Strategy	-2%	1%	-17%
Wellington	Strategic European Equity	-2%	-2%	-6%
Plato	Global Market Neutral	-2%	1%	-11%
Garraway Capital Management	Garraway Financial Trends	-2%	1%	-8%
Robeco	QI Multi Factor	-2%	1%	-19%
Guggenheim Investments	Guggenheim Managed Futures Strategy	-2%	2%	1%
Winton Capital Management	Absolute Return Futures	-2%	-2%	-14%
Lemanik	Global Strategy	-2%	3%	14%
Finlabo	Dynamic US Equity	-2%	-1%	-17%
Finlabo	Dynamic Emerging Markets	-2%	7%	-1%
WG Wealth Guardian	Strategic Volatility Returns Program	-2%	5%	-1%
AQR Capital Management	Global Macro Opportunities	-2%	0%	-5%
Systematica Investments	BlueTrend Fund	-2%	3%	6%
Seven	Fortress Fund	-2%	2%	3%
Jupiter	Global Absolute Return	-2%	-3%	-19%
Gotham	Gotham Neutral	-2%	2%	-10%
GAM International Management	Star Lux Financials	-2%	0%	-4%
Jupiter	Absolute Return UK	-2%	-4%	-19%
Crabel Capital Mgmt	Crabel Gemini	-2%	0%	2%
Vanguard	Vanguard Market Neutral	-2%	1%	-6%
Aspect Capital Limited	Aspect Core Trend Fund	-2%	0%	-1%
AQR Capital Management	AQR Managed Futures HV Strategy	-2%	1%	0%
Lynx Asset Management	Lynx	-2%	7%	-2%
Ennismore	European Smaller Companies	-2%	-4%	-15%
PGIM QMA	PGIM QMA Long-Short Equity	-2%	-1%	-16%
Systematica Investments	Alternative Risk Premia	-3%	1%	-7%
Banor	Mistral Long Short Equity	-3%	-5%	-20%
Mulvaney Capital Management	Global Diversified Program	-3%	3%	9%
Nuance	Nuance Concentrated Value L-S	-3%	-5%	1%
Blue Diamond Asset Management	Blue Diamond Non-Directional Strategy	-3%	1%	9%
Perdurance	Market Neutral (Rotschild)	-3%	3%	-7%
Winton Capital Management	Winton Futures Fund	-3%	-2%	-20%
Cooper Creek	North America Long Short Equity (ML)	-3%	2%	8%
Campbell & Company	Managed Futures	-3%	0%	-2%
Invesco	Invesco All Cap Market Neutral	-3%	-1%	-14%
Maverick	Fundamental Quant	-3%	4%	-16%
BNP Theam	Quant Equity	-3%	-2%	-4%
Fulcrum Asset Management	Multi Asset Trend Fund	-3%	1%	-8%
LGT Capital Partners	LGT Dynamic Protection	-3%	2%	18%
Hussman	Hussman Strategic Growth	-3%	0%	10%
Altegris Advisors	Evolution	-4%	0%	-20%
Odey	Odyssey	-4%	-6%	3%
H2O	Global LS	-4%	-3%	-38%
INSCH Capital Management SA	Kintore	-4%	6%	9%
Schroders	Global Equity Market Neutral	-4%	-3%	-12%
Zebra	Global Equity Market Neutral (Keplar)	-4%	-3%	-18%
Red Rock Capital	Commodity Long-Short	-5%	-2%	11%
Odey	Special Situations	-5%	6%	28%
Aspect Capital Limited	Diversified Program	-5%	1%	-8%
P/E Investments	FX Strategy – Standard UCITS	-6%	-7%	-4%
PanAgora	PanAgora Managed Futures Strategy	-6%	-2%	-10%
WG Wealth Guardian	Trend Fix Portfolio	-6%	4%	19%
Schindler Capital Management	Institutional Dairy Advantage	-6%	1%	8%
Schindler Capital Management	Dairy Advantage Program	-8%	0%	10%
WG Wealth Guardian	GVR Program	-8%	-1%	-18%
WG Wealth Guardian	QT Program	-12%	17%	38%
Navigator	Navigator Sentry Managed Volatility	-17%	-10%	-39%