dd Jan 14 14 Mar 08 -Jul 10 UMJ KOTOSHIRO FUND 31 Oct 08 M $120M 177.65 31 Mar 2.26% 1.07% 32.05% 17.83% 12.2% 11.19% 8.14% (9.48%) Masahiro Koshiba Mar 14 14 Jul 09 - Sep 10 1. Max Drawdown: Peak to trough. Past performance is not a reliable indicator of future performance. Source HSBC HSB