Monthly summary report as at 31 August 2013 AHL – a world leader in managed futures accessing around 300 international markets. Currency trading generated profits, driven by long exposure to the USD against a number of emerging market currencies. Emerging market currencies have suffered recently following the pick-up in Eurozone and US economies; investors have sold out of less developed markets in favour of higher-than-normal yields and more attractive equity returns in established markets. How to invest Toll free (Australia) 1800 222 355 Toll free (New Zealand) 0800 878 220 ( (61-2) 8259 9999 8 2 1 month -1.3% -2.1% 0.2% 3 months -5.4% 0.6% 0.7% 12 months -2.5% 18.3% 3.2% 3 years (p.a.) 0.2% 14.0% 4.2% CARR since inception* 3.0% 10.9% 4.2% Total return since inception* 12.7% 51.1% 17.9% * Inception date 1 September 2009. Source: Man Investments Australia. Man AHL Alpha (AUD) As at 31 August 2013^ 6.0% 4.0% 2.0% 0.0% -2.0% Jun 13 Mar 13 Dec 12 Jun 12 Sep 12 Mar 12 Source: Man Investments Australia. Sector allocations As at 31 August 2013^ 7 8 6 1 5 1 Stocks 26.5% 2 Energies 18.7% 3 Currencies 17.9% 4 Bonds 14.6% 5 Agriculturals 4 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 Dec 11 -6.0% Jun 11 -4.0% Sep 11 The energy sector made a small positive contribution as crude oil ended slightly higher on Middle East fears, resulting in a profit for AHL’s long holdings. However, short exposure to natural gas hurt returns as storage levels undershot expectations and long RBOB gasoline also detracted. UBSA Bank Bill Index Mar 11 The agricultural sector was positive overall. Long exposure to soyabeans was the standout trade as scorching Midwest temperatures threatened to damage crop. MSCI World (TR) Index Dec 10 Despite AHL securing profits early in the month, long positioning in the stocks sector detracted from returns. In particular, positions in the S&P 500, DAX and NASDAQ 100 were all negative contributors. Man AHL Alpha (AUD) Jun 10 AHL’s credit trading incurred losses as short exposure to US credit default indices detracted due to nervousness over a reduction in quantitative easing driving demand for default insurance. Returns Sep 10 Short positioning in metals weighed on performance. Increased industrial production in China lifted base metal prices while gold rose off-the-back of increased demand, particularly from India. As at 31 August 2013^ Mar 10 AHL posted a negative return in August with profits accrued early in the month, offset by losses. Market sentiment was again driven by the perceived likelihood of a premature end to US economic stimulus. Towards month-end, minutes released from the FOMC meeting implied that, given the improving US economy, a tapering of stimulus would occur this year. This led to an increase in US Treasury yields; however, the stock market reaction was fairly muted. Performance summary Dec 09 Man AHL Alpha (AUD) retraced -1.3% for the month. Sep 09 August performance summary 2 9.5% 6 Credit 6.3% 7 Metals 5.1% 8 Interest rates 1.4% 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 August 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 offer of Units in New Zealand is made pursuant to and in accordance with Part 5 of the Securities Act 1978 and the Securities (Mutual Recognition of Securities Offerings – Australia) Regulations 2008 (New Zealand). Investors receiving the PDS in New Zealand should read the ‘New Zealand Shareholders: Warning Statement’ in Section 11 of 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