Monthly summary report as at 31 May 2013 AHL – a world leader in managed futures accessing around 300 international markets. Man AHL Alpha (AUD) MSCI World (TR) Index UBSA Bank Bill Index 1 month -5.7% 0.1% 0.3% 3 months 0.0% 5.8% 0.8% 12 months 2.4% 28.5% 3.3% 3 years (p.a.) 3.5% 14.0% 4.4% CARR since inception* 4.8% 11.5% 4.3% Total return since inception* 19.1% 50.2% 17.1% * Inception date 1 September 2009. Source: Man Investments Australia. Man AHL Alpha (AUD) As at 31 May 2013^ 6.0% 4.0% 2.0% 0.0% Energies were slightly negative with long natural gas adding a loss. Short electricity and coal contracts helped partially offset sector losses. -2.0% The stock sector was a positive contributor as long positions in US and European stock indices benefited from the equity rally before returns were trimmed in the final week. -6.0% Mar 13 Dec 12 Sep 12 Jun 12 Mar 12 Dec 11 Sep 11 Jun 11 Mar 11 Dec 10 Agricultural trading added some gains, primarily via long soyabeans and short sugar positions. -4.0% Jun 10 Long exposure to the interest rate sector also weighed on performance with positions in Eurodollar contracts generating losses. Long positioning in Euribor and Short Sterling contracts were also adversely affected by a Eurozone rate cut. The currency sector delivered a loss as long positions in commodity-linked currencies were adversely affected by an appreciating US dollar. Returns Sep 10 A long exposure to the bond sector was the largest detractor. US Treasuries were amongst the most notable losers as yields jumped after comments by Ben Bernanke that the Fed might look to reduce its bond buying program. Further negative performance came from UK gilts and bonds from commodity-focused economies. As at 31 May 2013^ Mar 10 AHL generated a loss in May as risk appetite rose for the first three weeks but pulled back sharply towards month-end as the Federal Reserve announced it might look to taper monetary stimulus. This pattern was particularly pronounced in Japanese markets which had surged ahead, backed by yen depreciation and supportive monetary policy from the Bank of Japan, before falling markedly in the face of a possible reduction in US support. Performance summary Dec 09 Man AHL Alpha (AUD) retraced -5.7% for the month. Sep 09 May performance summary Source: Man Investments Australia. Sector allocations As at 31 May 2013^ 8 7 1 How to invest Toll free (Australia) 1800 222 355 Toll free (New Zealand) 0800 878 220 ( (61-2) 8259 9999 8 2 6 5 www.maninvestments.com.au/manahlalpha email [email protected] Fax (61-2) 9252 4453 Toll free (Australia) 1800 787 220 Toll free (New Zealand) 0800 787 220 2 4 1 Stocks 29.4% 2 Bonds 16.6% 3 Credit 10.8% 4 Metals 10.2% 5 Currencies 9.7% 6 Interest rates 9.5% 7 Energies 8.0% 8 Agriculturals 5.8% 3 Source: Man Investments. ^P ast performance is not a reliable indicator of future performance. Performance figures are calculated net of all fees as at 31 May 2013 and assuming all distributions are reinvested. Investment in Man AHL Alpha (AUD) (the ‘Fund’) is offered by Man Investments Australia Limited ABN 47 002 747 480 AFSL 240581 (‘MIA’). MIA is the Responsible Entity and issuer of Units in the Fund and publisher of this document. Offers of Units will be made in the PDS issued by MIA dated 8 May 2013 which is available on www.maninvestments.com.au/manahlalpha or by calling 1800 222 355 (Australia) or 0800 878 220 (New Zealand). Investors wishing to acquire Units will need to complete the Application Form attached to the PDS. The information contained and used in this document is general information only and it has been prepared without taking into account anyone’s objectives, financial situation or needs so before acting on it, consider its appropriateness to your circumstances. Persons considering investing in the Units should carefully read all of the PDS and speak to their financial advisor before making an investment decision. Please also refer to the Identification Requirements document. US Persons are not eligible to subscribe for Units pursuant to the PDS. Terms capitalised and used in this document have the same meaning as in the PDS. Man Investments Australia Limited Level 21 Grosvenor Place, 225 George Street, Sydney NSW 2000 Australia