AlphaMetrix The Marketplace for Private Investments International Stock Exchange Executives Emeriti March 27, 2012

Who we are 〉 The AlphaMetrix Global Marketplace includes: 〉 More than 68,000 industry participants 〉 A growing membership of 36,000 pre-qualified investors 〉 5,000 funds contributing monthly data 〉 150 listed funds 〉 The Marketplace offers live, listed funds with $6.9* billion in AUM 〉 Headquartered in Chicago and with offices in New York, Columbus and the Cayman Islands, AlphaMetrix has been successfully providing solutions and creating efficiencies for the hedge fund industry since *As of January The value for “assets under management” currently includes assets from managed accounts, pooled managed funds, transparent funds and assets under administration by AlphaMetrix and its affiliates. This value may change at any time and without notice. Alternative investment products, including hedge funds and managed futures, involve a high degree of risk. Alternative investment products can be volatile. An investor could lose all or a substantial amount of his or her investment. Alternative investment products often execute a substantial portion of their trades on non-U.S. exchanges. Investing in non-U.S. markets may entail risks that differ from those associated with investments in U.S. markets.

Challenges facing the private investment industry Historically, the hedge fund industry has struggled with a variety of difficulties. Lack of price discovery Minimal price dissemination Lack of centralized marketplace No mitigation of counterparty risk Restricted from launching IPOs

AlphaMetrix Global Marketplace: A solution for the industry’s issues Real-time technology Transparency Verifiable trust Empowering counterparties to connect The AlphaMetrix Global Marketplace (AGM) is the leading secure online marketplace for researching, tracking and analyzing information about hedge fund managers, CTAs and private equity funds. Through the Marketplace, we deliver multiple benefits to the hedge fund industry.

What we offer All of AlphaMetrix’s products and services are available through the AlphaMetrix Global Marketplace, a centralized network where managers, investors and services providers connect to achieve their business objectives. Investors Discover and communicate with thousands of fund managers; conduct research and due diligence as well as create model portfolios. Fund Managers Grow their businesses by gaining access to the Marketplace’s investor/members and create efficiencies through our proprietary back-office reporting and reconciliation tools. Service Providers Reach and develop new clients via a ready distribution channel.

Our Clients: Investors and Advisors AlphaMetrix has pre-screened 36,000 institutional and high net worth individuals globally for the AlphaMetrix Global Marketplace. Through AGM, investors have the ability to maximize returns through our proprietary analysis and monitoring tools, while leveraging the Marketplace’s transparency and reporting functions to minimize risk. Data is as of first quarter 2012 AlphaMetrix Investor Database Segmentation

Our Clients: Fund Managers The AlphaMetrix Global Marketplace includes hedge funds, CTAs, long-only funds and private equity funds, all of which are visible to members around-the-clock. AGM is designed to help fund managers develop verifiable trust and increase investor confidence. Breakdown of Marketplace funds by investment strategy Data is as of first quarter 2012

Our Clients: Service Providers Service Providers Administrators Attorneys Auditors Prime brokers/FCMs Service providers generate leads, gain referrals and communicate with current and prospective clients via the AlphaMetrix Global Marketplace.

Our vision: Looking Ahead Expand in Asia, Europe and the Middle East Create secondary markets for private placement Partner with banks and exchanges globally

Important Disclaimers This information has been prepared for circulation to (i) persons who are or would be classified as Qualified Eligible Persons under the Commodity Futures Trading Commission regulations and/or (ii) persons who, if they are US citizens or residents, are or would be classified as Accredited Investors under Regulation D under the US Securities Act This information has been prepared by AlphaMetrix, LLC for certain Relationship Managers, Registered Representatives and their qualified investors and potential investors. It is a confidential communication to, and solely for the use of such persons. Accordingly, this information may not be redistributed by the recipient to any non-qualified person. The information may be subject to verification or amendment and has been supplied for "information purposes" only. No representation or warranty is made, whether expressly or implied, AlphaMetrix LLC (“AlphaMetrix”) or their Directors, affiliates, or employees, as to the accuracy or completeness of the information provided. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. An investor may lose all or substantially all of its investment. This summary does not constitute legal, tax, investment or any other advice. AlphaMetrix strongly recommends that an investment in the Fund be made only after consultation with a prospective investor’s financial, legal and tax advisors. This information is neither an offer to sell nor a solicitation of any offer to buy any interest in a financial instrument or participate in any trading strategy sponsored or offered by AlphaMetrix. Any such offer, if made, would be made only by way of the Confidential Offering Memorandum and only in jurisdictions in which such an offer would be lawful. Any decision to invest should be made only on the basis of consideration of all of the Confidential Offering Memorandums. Such Confidential Offering Memorandum contains important information concerning risk factors and other material aspects of such financial instrument or trading strategy and must be read carefully before a decision to invest is made. This information must be accompanied by or preceded by the Confidential Offering Memorandum. Any person making an investment in the Fund must be able to bear the risks involved and must meet the Fund’ suitability requirements. The Fund may not be suitable for certain investors and an investment in the Fund will not constitute a complete investment program. No assurance can be given that the Fund’s investment objective will be achieved. Among the risks which AlphaMetrix wish to call to the particular attention of persons receiving this brochure are the following: The Fund is speculative and involves a substantial risk of loss. The Fund’s performance may be volatile. Redemptions may be made only infrequently and only if an investor provides prior written notice of its desire to redeem well in advance of the intended redemption date. The Fund is highly illiquid. There is no secondary market for the units in the Fund and none is expected to develop. There are restrictions on transferring units in the Fund. The Fund’ fees and expenses are significant. Trading profits must be greater than such fees and expenses to avoid loss of capital. The Fund is not required to provide periodic pricing or valuation information to investors with respect to their individual investments. There may involve complex tax structures and delays in distributing important tax information. The Fund is not subject to the same regulatory requirements as U.S. mutual funds. Trades executed for the Fund will take place on non-U.S. and U.S markets. The Fund may be subject to conflicts of interest. An investment in the Fund involves risk, including the risk of losing all or substantially all of your investment in the Fund. AlphaMetrix has not independently verified the accuracy or completeness of the information set forth in this presentation. These materials and the presentations of which they are a part, and the summaries contained herein, do not purport to be complete, and are qualified in their entirety by reference to the more detailed discussion contained in the Confidential Offering Memorandum.