| 1Capital excludes overlay assets. 2 On October 27, 2010, Highbridge Capital Management purchased a majority interest in Gávea Investimentos. Gávea did not place last year. 3 Based on A-class shares of Highbridge Asia Opportunities Fund, Ltd. 4 Man Group completed the acquisition of GLG Partners on October 14, 2010. GLG Partners ranked No.39 last year. 5 Man Group completed the acquisition of GLG Partners on October 14, 2010. GLG Partners ranked No.39 last year; its 2010 assets were as of December31,2009, and its2009 net return was based on the composite performance of GLG alternative strategies. 6 Ucits III also available. 7 As of January 1, 2011. 8 As of January 1, 2010. 9 Estimated, as of January 1, 2010. 10 Assets under management and performance returns are blended for 11 partnerships. 11 As of December 31, 2010. 12 As of December 31, 2009. 13 Encompasses return of both the limited partnership and offshore fund. 14 Hedge fund assets have been scaled to10 percent volatility. 15 II estimate. 16 Data based on sicav U.S. dollar open share class, as of December 31, 2010. 17 Data based on offshore U.S. dollar open share class, as of December 31, 2010. Hurdle rate is three-month LIBOR. 18 II estimate, as of December 31, 2010. 19 II estimate, as of December 31, 2009. 20 Capital for 2011 includes special purpose vehicles, which are owned by investors that have redeemed but have not yet received their money. Capital for 2010 includes special purpose vehicles as well as a managed account in the process of liquidation. It excludes $11.7 billion invested in private-equity-format funds and does not include $750 million in equity capital in Ableco, a corporation doing loan originations. 21 Returns are net of management fee and before performance fees. 22 On February 4, 2011, Shumway Capital Partners announced plans to return all external capital by the end of March 2011. 23 Represents all assets traded pursuant to Graham Capital Management's K4D Program, as of December 31, 2010. 24 Represents all assets traded pursuant to Graham Capital Management's K4D Program, as of December 31, 2009. 25 On March 8, 2011, Icahn Capital announced plans to return capital by the end of that month. 26 Dexia Long Short Risk Arbitrage fund was transformed to a cuits III fund in December 2009. No change in strategy, same team. 27 Dexia Long Short Double Alpha transformed to a French ucits III fund called Dexia Short Double Alpha F in April 2009. 28 As of December 31, 2010, converted from yen using exchange rate on that date. 29 As of December 31, 2009, converted from yen using exchange rate on that date. 30 On an individual basis some investments of other Orbis funds are included in the fund’s assets under management. 31 Capital excludes investments in other Orbis funds.32 Firm capital number represents all hedge fund assets excluding our CLO vehicles regardless of whether they have incentive fees or not. Our previous firm capital number and ranking in 2010 did not exclude these vehicles. Using the same criteria, in an direct comparison, firm capital in hedge fund assets in 2010 would be $6,358mm compared to $7,318mm in 2011. |