um Fund II, L.L.C. AlphaKeys Millennium Fund (Offshore), Ltd. 8% S&P 500 w ec O cc HFRI ReVVal • 13 6% c c o IiiHER IFA • HFRI Eq. Hedge HFRI RV Multi/Stmt • 0 u 4% HFRI Macros • HFRI FoF HFRI Eq. Mkt/Neut 2% 0% 3% 6% 9% 12% 15% Standard Deviation ' The use of indexes is for illustrat