139841-5 GBP ISHARES MARKIT IBOXX CORPORATE BOND 208.56 105.00 21,898.55 19,023.06 2,875.47 ISIN lE00800FV011 SEDOL EtOOFV01 461278-91-3 GBP HSBC FINANCE CORP 103.15 100,000.00 103,146.00 100,000.00 3,146.00 2,900.00 1.59% MEDIUM TERM NOTE 2.9% OCT 15 2015 128.80 DTD 10/15/2010 40429X-YB43 A /BAA

10.04 4.21% 1SHARES GBP CORPORATE BOND UCITS ETF ISIN IE00800FV011 SEDOL 1300FV01 461278-91-3 BP 192.01 105.00 20,160.81 19,023.08 1,137.73 HSBC FINANCE CORP MEDIUM TERM NOTE 2.9% OCT 152015 DTD 10/1502010 40429X-YB-6 A /BAA 102.94 100,000.00 102,940.00 100,000.00 2,940.00 2,900.00 853.80 1.54%

o 12/31/13 Pike Own* Value Adjusted Tax Cost Unrealized Gain/Loss Est. Annual Income Yield Original Cost Accrued Interest US Fixed Income HSBC FINANCE CORP 102.97 100,000.00 102,967.00 100,000.00 2,987.00 2900.00 1.22% MEDIUM TERM NOTE 2.9% OCT 15 2015 612.20 DTD 10/15/2010 40429V/643A /BM GE

1/31/14 Price Quantly Adjusted Tax Cost Unrealized Gain/Loss Est Annual Income Yield Value Original Cost Accrued Interest US Fixed Income HSBC FINANCE CORP 102.75 100,000.00 10Z745.00 100,000.00 2,745.00 2,900.00 1.27% MEDIUM TERM NOTE 2.9% OCT 15 2015 853.80 DTD 10/15/2010 40429X-YB43 A /BM

Cash 53,117,591.55 53,117,591.55 $0.00 $0.00 Non-USD Cash POUND STEFtUNG 1.87 283,967.18 440,072.62 440 937 87 ,885 .75 US Fixed Income HSBC FINANCE CORP 102.53 100,000.00 102,527.00 100 ODD CO 2 527 20 2 91CD CO 1 24 1. MEDIUM TERM NOTE 2.9% OCT 15 2015 1 817 120 DTD 10 1 5,2010 40429X-YB-6

DOL B435Z93 459058-9B-1 NA /AAA BRL Total Non-USD Short Term $719,742.94 3746.337.36 ($26584.41) 510.483.98 3.69% $4,204.06 US Fixed Income HSBC FINANCE CORP 94.44 100900.00 94.440.00 100.00090 (5560.00) 2.900.00 4.42% MEDIUM TERM NOTE 2.9% OCT 15 2015 1,337.20 DTD 10/15/2010 40429X-Y8-6 A /A3

SEDOL B435293 459058-96-1 NA /AAA BRL Total Non-USD Short Term $704,326.48 $697,804.73 56,621.76 $7,869.14 1.13% $1,809.78 US Fixed Income HSBC FINANCE CORP 94.81 100.000 00 94,809.00 100,000.00 (5,191.00) 290100 4.34% MEDIUM TERM NOTE 2.9% OCT 15 2015 126.80 DTD 10115/2010 40429X-YB-6 A /A3 G

95 8.37% 8.75% JUN 15 2012 2,307.06 DID 08/20/2009 HELD BY EUROCLEAR ISIN XS0446421157 SEDOL B435293 459058-9B-1 NA /AAA BRL US Fixed Income HSBC FINANCE CORP 96.14 100,000.00 96,135.00 100,000.00 (3,865.00) 2.900.00 4.01% MEDIUM TERM NOTE 2.9% OCT 15 2015 612.20 DTD 10/15/2010 40429X-YB-8 A /A3

$30.68 0.34% (SHARES MARKIT IBOXX CORPORATE BOND ISIN lE00800FV011 SEDOL BCOFV01 461278-91-3 GBP 192.33 105.00 20,194.94 19,023.08 1,171.86 HSBC FINANCE CORP MEDIUM TERM NOTE 2.9% OCT 15 2015 DTD 10/15/2010 40429X-YB-6 A /A3 96.47 100,000.00 98,469.00 100,000.00 (3,531.00) 2,900.00 853.80 3.93%

Income !SHARES MARKIT IBOX X CORPORATE BOND 194 97 105.00 20471.72 18023.08 1,448.64 SIN lE0OBOOFV011 SEDOL BOOFVOI 227.60 461278-91.3 GBP HSBC FINANCE CORP 96.59 100,000.00 96694.00 100,000.00 (3,406.00) 2,900.00 3.92% MEDIUM TERM NOTE 2.9% OCT 15 2015 1,095.50 DTD 10/15/2010 40429X-YB-6 A /A3

8 WAS 0.88% ISHARES MARKIT IBOXX CORPORATE BOND ISIN lE0OBOOFV011 SEDOL BOOFVOI 461278-91-3 GBP 195.14 106.00 20,489.72 19,023.08 1,466.64 HSBC FINANCE CORP MEDIUM TERM NOTE 2.9% OCT 15 2015 DTD 10/15/2010 40429X-Y8-6 A /A3 97.94 100,000.00 97,944.00 100,000.00 (2,058.00) 2.900.00 128.80 3.54%

,843.97) ISHARES MARKIT IBOXX CORPORATE BOND ISIN IE00B00FV011 SEDOL BOOFVOI 461278-91-3 GBP 187.21 105.00 19,657.52 19,023.08 834.44 22Z74 HSBC FINANCE CORP MEDIUM TERM NOTE 2.9% OCT 15 2015 DTD 10/15/2010 40429X-YB-6 A /A3 97.67 100,000.00 97,673.00 100,000.00 (2,327.00) 2,900.00 370.50 394%

Fixed Income !SHARES MARKIT !BOX X CORPORATE BOND ISIN lE0OBOOFV011 SEDOL BOOFVOI 191 44 105.00 20,101.12 19,023.08 1,078.04 461278-91.3 GBP HSBC FINANCE CORP 97.24 100,000.00 97,235.00 100,000.00 (2,765.00) 2,900.00 3.80% MEDIUM TERM NOTE 2.9% OCT 15 2015 612.20 DTD 10/15/2010 40429X-YB-6 A /BAA

98-91.5 GBP (SHARES MARKIT IBOXX CORPORATE BOND 200.07 105.00 21,007.87 19,023.08 1,984.79 ISIN lE0OBOOFV011 SEDOL BOOF VO I 461278-91-3 GBP HSBC FINANCE CORP 100.18 100,000.00 loo.leo.00 100,000.00 180.00 2,900.00 2.84% MEDIUM TERM NOTE 2.9% OCT 15 2015 853.80 DTD 10/15/2010 40429X-Y13-6 A /BAA

5 GBP ISHARES MARKIT IBOXX CORPORATE BOND 20238 105.00 21,250.35 19,023.08 2,227.27 ISIN lE0OBOOFV011 SEDOL BOOF VO1 201.88 461278-91-3 GBP HSBC FINANCE CORP 100.15 100,000.00 100,147.00 100,000.00 147.00 2,900.00 2.85% MEDIUM TERM NOTE 2.9% OCT 15 2015 1,095.50 DTD 10/15/2010 40429X-YEI-6 A /BA

51398-91.5 GBP ISHARES MARKIT IBOXX CORPORATE BOND 208.63 105.00 21,906.38 19,023.08 2,883.30 ISIN lE0OBOOFV011 SEDOL BOOFVO 461278-91-3 GBP HSBC FINANCE CORP 101.23 100,000.00 101225.00 100,030.00 1,225.00 2.900.00 2.48% MEDIUM TERM NOTE 2.9% OCT 15 2015 1,337.20 DTD 10/15/2010 40429X-YB-6 A /BA

5 GBP (SHARES MARKIT IBOXX CORPORATE BOND 207.44 105.00 21,781.11 19,023.08 2,758.03 ISIN IE0OBOOFV011 SEDOL BOOFVOI 183.24 461278-91-3 GBP HSBC FINANCE CORP 101.66 100600.00 101.65660 100,030.00 1658.00 zsoozo 2.30% MEDIUM TERM NOTE 2.9% OCT 15 2015 370.50 DTD 10/15/2010 40429X-YB-6 A /BAA GENER

398-91.5 GBP ISHARES MARKIT IBOXX CORPORATE BOND 210.32 105.00 22,083.68 19,023.06 3,060.60 ISIN lE0OBOOFV011 SEDOL BOOFVO I 461278-91-3 GBP HSBC FINANCE CORP 101.64 100,000.00 101,639.00 100,000.00 1.639.00 2,900.00 2.29% MEDIUM TERM NOTE 2.9% OCT 15 2015 612.20 DTD 10/15/2010 40429X-YB-6 A /BAA

98-91.5 GBP ISHARES MARKIT IBOXX CORPORATE BOND 201.88 105.00 21,196.91 19,023.08 2,173.83 ISIN IE0OBOOFV011 SEDOL BOOF VO I 461278-91-3 GBP HSBC FINANCE CORP 101.64 100,000.00 101,644.00 100,000.00 1,644.00 2,900.00 2.27% MEDIUM TERM NOTE 2.9% OCT 15 2015 853.80 DTD 10/15/2010 40429X-YB-6 A /BAA

9 74,510.58 $457,791.66 80,157.26 ($15,945.67) (5,646.68) $13,321.40 $6,777.16 1.92% 193.18 105.00 20,284.10 19,023.08 1,261.02 179.97 HSBC FINANCE CORP MEDIUM TERM NOTE 2.9% OCT 152015 DTD 10/152010 40429X-YB-6 A /BAA 103.23 100,000.00 103,230.00 100,000.00 3,230.00 2,900.00 1,095.50 1.64%