Man Investments Ltd (AHL

Evolution)

Fund Investment Objectives

AHL EVOLUTION trades a variety of highly liquid non-traditional markets that are complementary to the main futures markets normally accessed by traditional CTAs. These include credit default swaps, cash bonds, cash equities, interest rate swaps and various energy derivatives, which are traded using momentum-based systems that are similar to those used in AHL's main funds. Additionally, the fund includes a small allocation of approximately 5% to a volatility strategy applied to a number of listed equity, bond, FX and commodity options. AUM reflects AHL firm assets.