Installation 3. PerTrac Reporting Studio Overview 4. The Report Design Window Overview 8. Designing the Report (an example) 13

Contents Installation 3 PerTrac Reporting Studio Overview 4 The Report Design Window Overview 8 Designing the Report (an example) 13 PerTrac Reporting Studio Charts 14 Chart Editing/Formatting 17 PerTrac Reporting Studio Tables 18 Table Editing/Formatting 22 PerTrac Reporting Studio Tips 23 Generating Report Library Templates 26 Knowledge Base Article With More Detail http://support.pertrac.com/public_kb.asp?problemid=181

Installation PerTrac Reporting Studio is a stand-alone report application and can be launched as a separate application from within the PerTrac Analytical Platform. This application will not create conflicts with your PerTrac Analytical Platform installation. a. To download PerTrac Reporting Studio go to www.pertrac.com and click on the "Support" link. b. Next click on the "PerTrac Analytics Client Login" link (Client Login) c. Next you will be prompted to enter the following required information, Name, Email, and License Number, in order to gain access to the download page. d. From the download page click the "Download Software" dropdown and select Reporting Studio. e. Next click the link labeled Click here To Download PerTrac Reporting Studio f. Save the file to your selected destination g. Double click the file PerTrac Reporting Studio.exe to launch the installer. 3

h. By default, the application will be installed at the following path: C:\Program Files\PerTrac Financial Solutions. You may change the installation location to a different file path if you wish. i. A PerTrac Reporting Studio folder and files will be added to you selected path and PerTrac Reporting Studio shortcut will be added to your desktop. 4

PerTrac Reporting Studio Overview When the PerTrac Reporting Studio application is launched, the Home window shown below opens. The report Home window interface displays folder and report options in the left side pane, similar to Outlook. Create Blank Report: Use this option to design a new report from scratch. Browse For A Report: Once a report has been created and saved, use this option to locate your saved file. Recent Reports: Use this option to find and open any of the ten most recently opened reports. My Reports: Use this option to find and open all user reports saved to this folder. Pre-defined Reports: Use this option to select from a gallery of pre-built report templates to start with. Report Preview: The Home window is also a Report Preview window that will display thumbnails of the pages in your reports. The top of the window will display the Report Name, Report Description and Report History. When you click Report History, the Report History window will open. The table displays a list of all report versions, users that created or edited a report, and the date/time the report was created or edited. The Restore button at the bottom provides an option to restore any listed report version. For 5

example, if a new user altered a previously saved report, and the original user wanted to restore it to a previous version, the Restore button will restore the report elements (charts, tables, etc) back to their original state. Note: When you highlight a report in the Report History window and click Restore, you will be prompted to rename the saved report. Once the report is saved, and you close the Report History window, the new file is not listed in the Home window folders. Click Browse to locate and open the restored file. There are three ways to start a blank report session from the Home window: Click the Explore (PerTrac icon) button on the upper left and select New Report. pane. Click the New Report icon on the upper menu bar. Click the Create Blank Report option in the left side Step 1: Report Name, Report Description. When you launch a new report session with the options listed above, a four-step wizard opens. Step 1 is the Report Name window which prompts you for a report name (required) and report description (optional). Once the report name and report description have been entered, click Next in the lower right to move on to step 2. If at any time you would like to go back to the Home window, click Cancel in the lower left. Step 2: Database Selection. Click the down arrow at the end of the database window. Your PerTrac database(s), Access or SQL, will be listed. When your database has been selected, click Next. Step 3: Calculation and Investment Options. The Investment Selection window will allow the user to define the overall report session options which include time series (unit of measure), date range, the report investment universe, and report benchmark universe. Calculation Options: Enter your Minimum Acceptable Return (MAR) and Risk Free rates. TIP: The Minimum Acceptable Return and Risk Free rates set here are the default rates for the report session. However, once you enter the report session and add Downside Deviation, Sharpe or Sortino to your report, the rates can be changed. When adding Sharpe Ratio to your report you have the option to use a benchmark in lieu of the risk free rate. Investment Options: o Report Time Series: Click the down arrow to select the time series unit of measure. You may currently select either Monthly or Quarterly. o Report Date Range: The default date range is Since Inception to End of Data. However, if you want the report to cover a specific date range, enter the start and end dates with the Custom Range option. o Investments: PerTrac Reporting Studio is a multi-investment (universe) report generator. There are three possible universe selections: Portfolio/Manager, Benchmark and Peer. 6

Select the Portfolio tab and click Browse. The File Open window will open to your default universe folder. Select your manager universe. Select the Benchmark tab and click Browse to select your benchmark universe. Select the Peer tab and click Browse to select your peer universe. Note: The Portfolio and Benchmark universes have a limit of 100 funds or benchmarks. 1. When your universes have been selected, the Include column check boxes will all be checked by default. There are two radio button options at the top of the window: Entire Universe and Selected Investments. By default the Entire Universe option is selected. If you do not wish to plot all funds in the universe, click Selected Investments and then uncheck the investments not to be included in the report. Note: These radio button options determine which investments and benchmarks get plotted when you start constructing your report tables and charts. When Entire Universe, the default is selected, the universes are grayed out and no uncheck option is available. 2. The Investments table displays the names of the Investments and Benchmarks in your selected universes, Start dates, End dates and the time series. Currently monthly or quarterly. Note: The Portfolio/Manager, Benchmark and Peer tabs display the names of your universe files once they have been selected with the Browse button. 3. The Browse button will allow you to select a universe. The Remove button will remove a selected universe. 4. The Previous button will take you to the previous wizard step. The Next button will take you to the next wizard step. 5. When all inputs are complete, click Next to proceed to step 4. Step 4: Report Options. Number of Pages: Click the down arrow to select a pre-defined number of pages in your report, or type a number directly into the window. 7

TIP: Once the wizard process is complete and your report session begins, you will have the option of adding pages to, and removing pages from, your report. There is no limit to the number of pages you can add to your report. Page Orientation: This option allows the user to select a pre-defined page orientation, portrait or landscape. You will have the option of changing the page orientation at any time during the report session. Page Size: Click the down arrow to select your page size. If you require a special page size, select Custom from the list, and enter your page size configurations in mm, cm, or inches. Page Margins: Enter values for your margins. The default is set to 1 inch for all margins. When all inputs have been selected, click Complete to exit the wizard and enter the report design area. 8

The Report Design Window Overview PerTrac Reporting Studio report creation is based on the Drag and Drop concept of selecting elements (Charts, Tables, Text, and Pictures) and placing them onto the pages in your report. Once you have completed the four-step wizard, the report session window opens. The orientation and number of pages will display based on your wizard selections. The design window menu ribbon displays three main tabs: Home, Insert and Options. Home: The Home tab contains five report session functions: Print, Export, Edit, Insert and View. o Print: The Print tab allows for printing directly from within the report studio. Print: Click Print to open the print options window. Print Preview: Click Print Preview to open the report preview window. The Print Preview window contains Print, Tools, Page View and Preview options. o Export: The report can be saved as a PDF file or exported to Excel. Save As PDF: Click this tab to save your report as a PDF file. Save to Excel: Exporting to Excel is useful for creating PerTrac Publisher style reports. Each element added to your report pages will have its own separate sheet when exported to Excel. This option is most useful if you want to link your non-pertrac attribution data to your report. By exporting only the content on your report to Excel, the speed increases substantially over the time it may take to run a PerTrac Publisher report. Please refer to our recorded tutorial Creating a PerTrac Reporting Studio Excel report for instructions on creating your report in Excel. o Edit: This tab contains the options to Cut, Copy and Paste elements. TIP: A right-click option has also been added to the report elements. Rightclicking will allow you to Cut, Copy, Paste, Refresh, Edit and Delete. o Insert: This area contains the four types of report elements: Chart, Table, Picture and Text. Chart: Click the down arrow to select a chart type. There are Manager and Peer charts. 9

Table: Click the down arrow to select a table type. There are Manager and Peer tables. o Picture: Click Picture to insert an image file. Company logos can be added to your report with the Picture element. Text: This element is a rich text box. Once added to your report, text can be typed directly into the text box or copied and pasted in. View: Displays four formatting options. Orientation: Click the drop-down arrow to change your page layout to portrait or landscape. Step four of the report wizard has an option to set you page layout universally. This option allows you to change it as you go once you are in the report session constructing your report. Auto Fit: Places your pages in an optimal viewing position based on your screen resolution and window sizing. 10

ZoomIn: This option will increase the viewing size of your page canvass. When the page expands past your viewing area, scroll bars will appear on the right and bottom. ZoomOut: This option will reduce the page viewing size of your page canvass. The lowest ZoomOut viewing is 30%. Note: In addition to the ZoomIn and ZoomOut options on the menu ribbon, there is a zoom slider bar located at the lower right side of the report session window. This allows for quick zooming by sliding the indicator toward either the + or signs, or by clicking on the + or signs. TIP: The menu ribbon can be hidden if you would like a larger viewing area. Right-clicking in the ribbon area will open a menu to minimize the ribbon. Once minimized, you will have the Home, Insert and Options menus available. The ribbon will appear when you select an option, then disappear giving you a larger page canvass area. Insert: The Insert tab contains two report session options: Page Options and Content. o Page Options: Click the New Page icon to insert a new page into your report. Note: New pages will match your report session page orientation, either portrait or landscape. o Content: The Content area displays the four report elements, Chart, Table, Picture and Text. Once a new page is added, the user can quickly add page elements. Options: The Options tab provides additional important report session options. o Report Wizard: If at any time during your report session you would like to change any of your original wizard settings, click Report Wizard to take you back to Step 1 of the wizard. o Investment Short Names: This option will allow you to change the names of the investments or benchmarks included on your report. Many investment and benchmark names are lengthy, which could have an impact on table and chart formatting. The Short Names option will open a window listing your investment and benchmark original names, and a column to enter a short name. Note: Creating a short name for your funds only applies to your report session. These names will not be reflected in the PerTrac database. o Settings: When you click the Settings icon a window with three tab options will open. Properties allows you to change your report name and report descriptions. These were originally set on Step 1 of the report wizard. Calculation Options allows you to change the Minimum Acceptable Returns (MAR) and Risk-Free rates for calculating downside deviation, Sortino Ratio and Sharpe Ratio. Default Locations allows you to change your default report folder for saved reports and the default location of the pre-defined reports. 11

In addition to the menu ribbon s three main tabs (described above), the design window contains other elements. Explore Options: Clicking the large Explore button with the PerTrac logo in the upper left corner will provide a list of options that include: Settings, New Report, Open Report, Close Report, Save and Save As. Save & Close Report : The Save and Close shortcut icons are located on the upper left side of the window. Chart, Table, Image & Text Options (Right side panel): The right side of the design window displays a tab with three sub-tabs: Content, Format and Options. These are discussed in more detail in the next section. o Content: The Content tab acts as the field selector for the data to be displayed within a report element, such as a chart or table. The name of the element is displayed at the top of the top. Below that is the Available Data list. This area lists the available data for the selected element. The Type menu lets you select the type of data available for the element (i.e. statistic or qualitative fields). The Filter menu lets you restrict the list of available data to a particular category. Select All in this menu to see all available data choices listed. Below the Available Data field, the Selected Fields area lists the data currently displayed in the element. To Add a new information field or statistic, highlight it in the Available Data area, and click the green + sign. To Remove a statistic from the Selected Fields window (removing it from the table or chart), highlight the statistic and click the red X. Note: An element is defined as a Chart, Table, Image or Text box. Several pre-defined tables and charts are available. When those elements are selected and added to your page, the Selected Fields window will display the statistics currently selected for that element. o Format: This tab applies to table and image elements. Charts and text boxes are edited directly on the element. Once a table has been added to your page, fonts and numerical formatting can be changed on the Format tab. o Options: This tab provides the user with element override options. When you start a report session with the 4-step wizard, you select your time series, date range and universes for the entire report session. However, you will have the ability to override the report session settings at the element level (Chart or Table). There are three override options: Time Series, Date Range and Universe. 12

Time Series: Click the arrow to change the unit of measure for statistics calculation, from monthly to quarterly. Date Range: Click the arrow to open a calendar for date selection, or enter start and end dates directly into the box. Universe: This option allows you to quickly remove funds or benchmarks from existing universes, or change the entire universe plotted on the selected element. There are three possible universe tabs depending on the report type: Manager, Benchmark and Peer. The managers/benchmarks listed under the Manager and Benchmark tabs, have check boxes before the name. Uncheck the box and click Apply to remove the managers/ benchmarks from the element. Once removed, the managers/benchmarks can be added back by checking their boxes. To select and plot a different manager/benchmark universe, click the green + sign located to the right of the Universe drop-down window. When the new universe has been selected, click Apply to update the element. Tip: When you override a universe, the new universe is added to the Universe drop-down list, which allows you to quickly toggle between universes. Note: Each element (chart, table, image or text box) is an independent item on the page. The options available on the right side panel will change based on the element. The changes made will only apply to that element. Selected Fields Statistics Options: There is one more option window available, but not viewable until you double click on a statistic listed in the Selected Fields window. The Selected Fields area on the Content tab in the right side options panel displays the statistics currently selected for the chart or table. When you double click on a statistic, a statistics option window will open. (See figure at right) Depending on the statistic, this options window will allow you to change the Date Options (including the numerical value for selected periods) and the Calc Options. It also allows you to calculate statistics on an annualized basis with the Annualize check box. Note: By default, the Annualize check box is checked (for all statistics where annualizing is available) for periods over 1 year. Uncheck this box if you want the statistic calculated on a cumulative rather than annualized basis. 13

Designing the Report (an example) Once you have completed the 4-step wizard, the design window opens, which consists of blank pages based on the number of pages selected in step 4 of the wizard. Elements (charts, tables, images, text boxes) will be selected (dragged) and placed (dropped) onto the report pages. For this example we will place the VAMI (Growth of $1,000) chart and Risk Table elements onto page one of the report. Charts, Tables, Images and Text elements are more fully explained below this example section. 1. Click the Chart icon on the menu ribbon to select your chart. For example, click the down arrow and select the VAMI (Growth of $1,000) Chart. Hover over the page. Your mouse pointer has changed to a + sign. Hold down your left mouse button and drag the chart border across the page. When you let go of your left mouse button, the chart will populate with VAMI (Growth of $ 1,000) data. After the chart is placed on the page you can drag the borders of the charts to resize it. TIP: Once you have drawn your element onto the page, then left-click on the element, you will notice that four green arrows appear around the borders of the element. These are alignment arrows that allow you to snap your elements to align with the borders of your page. They also allow you to align each element on your page with each other. This will keep all elements aligned when printing your report or saving the report as a PDF file. 2. Click the Table icon on the menu ribbon, select Risk Table, and drag it onto the page just below the VAMI (Growth of $1,000) chart. Note: All charts, tables, images and text boxes are added to your pages via drag and drop. 3. At this point you have a chart and a table on Page 1, populated with the investments in your Manager universe, and the benchmarks in your Benchmark universe, selected in step 3 of the wizard. You may override the inputs on the VAMI Chart or the Risk Table by using the options in the right side panel. See the point titled Chart, Table, Image & Text Options (Right side panel) on pages 9-10 above for an explanation of how to use these options. 4. Right click on Page 2 and delete it. Do the same to page 3. 5. Save the file. Click the Save icon on the menu ribbon, or click the large button on the upper left with the PerTrac logo and select Save or Save As. Tip: To change the default saved file folder, click Options in the menu ribbon, select Settings, and then Default Locations. 6. Choose a report output option. There are two output options currently available, Save As PDF and Save to Excel. These options are located on the Home menu tab. Save As PDF provides the quickest print option. Save to Excel works similarly to PerTrac Publisher where each element in your report will have a separate worksheet in the Excel file. The elements can then be linked to your template pages and run like a PerTrac Publisher template. However, unlike PerTrac Publisher templates, you are not limited to only one fund and two benchmarks. 14

PerTrac Reporting Studio Charts 1. Allocation Pie Chart: When you add a pie chart to your report a Categorical Chart Data window will appear on the right side options panel. The category labels and values must be either typed in, or copy and pasted in. When the data has been entered, click Apply. TIP: There is a dropdown list at the top of the value column displaying: Value or Percent. If your pie chart data is formatted in currency for example, select Value. If your data is formatted as decimal or percent, choose the Percent option. Note: If you enter currency values, and select Value from the dropdown, then select Percent from the dropdown, your data is deleted, and vice versa. Enter non-percent or decimal formats as Value. 2. Calendar Year Returns: This chart is pre-populated with calendar year returns, YTD - 2007 back to 1997. You can add or remove calendar years. To add calendar years, double click Compound ROR in the Available Data window on the right side options panel. The new statistic is added to the bottom of the Selected Fields list as Compound ROR (Since Inception). Double click on the label to open the Date Options and Calc Options window. Click the down arrow for Date Options and select Calendar Year. When Calendar Year has been selected, a new drop-down option appears, allowing you to choose the number of years back you want produce calendar year returns for. Click Exit to update the chart. To remove a calendar year, highlight the year in the Selected Fields window, and click the red X. 3. Distribution of Returns: This chart will plot a stacked bar chart representing the distribution of returns for each fund and benchmark selected in the report session Manager and Benchmark universes. To remove managers or benchmarks from the chart, click on the chart, click the Options tab on the Chart Options panel, then click the Manager or Benchmark tabs to uncheck managers or benchmarks. 4. Percent Profitable: This is a single statistic bar chart. This chart can display only one statistic per chart. Percent Profitable is the default statistic. To change the statistic click on the chart, click the Content tab on the Chart Options panel, highlight Percent Profitable in the Selected Fields list, and then click the red X. The chart will be in a static 15

mode waiting for you to select the new statistic. The Available Data area will list all available statistics for this chart. Double click on the statistic you want to add, or highlight the statistic and click the green + sign. 5. Risk/Return XY Scatterplot: This chart by default will display a scatterplot for all selected managers and benchmarks. The default Y-axis statistic is Compound ROR and the X-axis is Standard Deviation. However, you can change the X and Y axis statistics by removing Compound ROR and Standard Deviation from the Selected Fields list in the Chart Options panel, and adding two more statistics from the Available Data list. 6. Rolling Statistics: This is a single rolling statistic chart. Standard Deviation is the default statistic and 36 month rolling periods is the default rolling basis. As with all charts and tables, you can change the rolling statistic by removing Standard Deviation from the Selected Fields, and adding a new rolling statistic from the Available Data. To change the rolling period, double click the statistic in the Selected Fields list. This opens the options window. Open the Rolling X Periods drop-down menu to select the rolling period. 7. Trailing Periods: This is a trailing statistic bar chart. By default, the chart will display the trailing returns, which include: Last 1 Month, Last 3 Months, Last 6 Months, YTD, Last 1 Year, Last 2 Years, Last 3 Years, Last 5 Years, Last 7 Years, and Last 10 Years. The trailing periods start from your selected end date. You can remove periods from the Selected Fields list that you don t want to display. You can change the trailing period by double clicking on the Selected Field statistic to open the options window. Use the Date Options drop-down menus to set the new date parameters. 8. VAMI (Growth of $1,000): This is a line graph displaying VAMI (Growth of $1,000) by default. The available options for this chart are VAMI and Cumulative Return. VAMI can be removed from the Selected Fields list, and Cumulative Return can be added from the Available Data list. 9. XY Scatterplot User Defined: This is a user-defined XY scatterplot chart which, by default, will not populate until the user selects both the X- and Y-axis statistics. Once the chart has been selected and placed on the report page, you can choose the X- and Y- axis statistics from the Chart Options panel. The Available Data area on the Content tab will list all available stats. Tip: The first statistic selected is the X-axis statistic and the second statistic selected is the Y-axis statistic. 10. Calendar Year Peer Statistics: This chart is a peer floating quartile bar chart. The default chart returns are calendar year returns back to calendar year 1997. Calendar years can be removed from the Selected Fields list, and additional calendar years can be added. To add a calendar year, double click Compound ROR in the Available Data list. Compound ROR will be added to the bottom of the list in the Selected Fields area. To select the appropriate calendar year, double click Compound ROR to open the options window, then make the appropriate selections from the Date Options drop-down menus. 11. Single Period Multiple Statistics: This is a peer ranking chart on multiple statistics over a single period. For example, you could see how your funds were ranked on Compound ROR, Sharpe Ratio, Sortino Ratio, Drawdown, or any other available statistic, over the last 5 years. This chart is user-defined. When this chart is added to your report, it appears in a static mode waiting for you to add statistics. Choose the 16

statistics from the Available Data list, by double clicking on them, or clicking the green + sign to add them to the Selected Fields list. The chart will update each time a new statistic is added. 12. Trailing Peer Statistics: This chart is a peer floating quartile bar chart. The default chart displays trailing returns from your selected end date and includes: Last 1 Month, Last 3 Months, Last 6 Months, YTD, Last 1 Year, Last 2 Years, Last 3 Years, Last 5 Years, Last 7 Years, and Last 10 Years. You can remove periods from the Selected Fields window that you don t want to display. You can change the trailing period by double clicking on the Selected Field statistic to open the options window, then making the appropriate selections from the Date Options drop-down menus. Chart Editing/Formatting When a chart is placed on the page, a small window with three icons appears on the lower right side of the chart. When you click off of the chart the icons disappear. They will reappear any time you hover over the chart. The circular blue arrows refresh the chart. The recycle bin on the right will delete the chart. The center icon is the chart format icon. When you click this icon the chart is brought to the forefront for editing. Right click on the chart to open the menu shown to the right. Click the Toolbar option to add the editing toolbar to the top of your chart. Each time you edit the chart the toolbar will remain at the top. This makes it more efficient to format your chart. The basic formats include: changing the chart type, chart colors, formatting fonts and labels, X and Y axis properties and printing. TIP: The Data Grid option will produce a table just below the chart that will display the chart data. Although PerTrac Reporting Studio includes tables to accompany the charts, the Data Grid may be a better option for certain types of charts. 17

PerTrac Reporting Studio Tables 1. Calendar Year Returns: This table is pre-populated with calendar year returns from YTD 2007 back to 1997. You can add or remove calendar years. To add calendar years, double click Compound ROR in the Available Data window on the right side Options panel. The new statistic is added to the bottom of the Selected Fields list as Compound ROR (Since Inception). Double click on the label to open the Date Options and Calc Options window. Click the down arrow for Date Options and select Calendar Year. When Calendar Year has been selected a new drop-down menu appears, allowing you to choose the number of years back you want produce calendar year returns on. Click Exit to update the chart. To remove a calendar year, highlight the year in the Selected Fields list, and click the red X. 2. Correlation Matrix: The correlation matrix will display Correlation by default. To change the statistic, remove Correlation from the Selected Fields list, then double click on a new statistic from the Available Data list. Only one statistic can be selected for the correlation matrix. 3. Correlation Table: This is a pre-defined correlation table which includes: Annualized Alpha, Beta, Correlation, R-Squared, Active Premium, Information Ratio, Tracking Error, Down Capture Ratio and Up Capture Ratio. You can add and remove statistics from the Selected Fields list. The default statistics are listed in the Selected Fields area. To remove a statistic, highlight it in the Selected Fields list and click the red X or drag the statistic from the Selected Fields window and drop it into the Available Data window. To add statistics to the table, double click on the statistic in the Available Data list. The new statistic will be added to the bottom of the Selected Fields list and added as the last column in the table. You can change the order of the statistics in the table by dragging them up or down in the Selected Fields list. 18

Important! When adding tables or charts that include correlation statistics to your report, the default correlation benchmark is the first benchmark in your Benchmark universe. If you don t select a report Benchmark universe and only use a Manager universe, the default correlation benchmark will be the first fund listed in the Manager universe. TIP: To change the correlation benchmark (independent variable), double click the correlation statistic(s) listed in the Selected Fields window. This process opens a new options window which includes a Benchmark drop down list. Click the down arrow to select a new benchmark for your correlation statistic. 4. Custom Table: This is a user-defined table which, by default, will not populate until the user selects statistics. Once the table has been selected and placed on the report page, you can choose the table statistics from the Available Data area in the right side Table Options panel. To add a statistic to your table, double click on any statistic listed in the Available Data area. The selected statistic will be added to the Selected Fields list. By default the statistic will be calculated over your entered date range. To change the calculation period to, for example, the last 5 years trailing from your end date (YTD, Calendar Year, Last X Periods or Last X Years), double click on the statistic in the Selected Fields list. An additional options window will open. Open the Date Options drop-down menu to select the period, and then click the drop-down menu to its right to select the number of periods or years back. The table will update each time a statistic is added or removed, or when the Date Options have be changed. 5. Maximum Drawdowns: This table will display the maximum drawdown, drawdown length, drawdown recovery, drawdown peak date, and drawdown valley date for each fund in the universe. 6. Performance: This is the monthly or quarterly returns table for a single fund. By default this table will display the monthly or quarterly (depending on which you have selected) returns for the first fund in your manager universe. The table will populate with all available data. For example, if your fund has 20 years of data, this table will display 20 years of returns. Tip: This is a single fund table. A separate table would have to be added to your report for each fund in your universe. To display returns in the table for a different single fund, use the Options tab on the Table Options panel to select the radio button for a different fund in the manager universe. 7. Recent Performance: This table is the same as the Performance table listed above, but only displays the last 6 years of monthly or quarterly returns, regardless of how many years of returns exist for the manager. 8. Risk Table: This is a pre-defined risk table which includes: Standard Deviation, Sharpe Ratio, Max Drawdown, Sortino Ratio, Average Gain, Average Loss, Kurtosis, Skewness and Compound ROR. You can add and remove statistics from the Selected Fields list. To remove a statistic highlight it in the Selected Fields list and click the red X. To add statistics to the table, double click on the statistic in the Available Data list in the Options panel. The new statistic will be added to the bottom of the Selected Fields list and added as the last column in the table. Tip: You can change the order of the statistics in the table by dragging them up or down in the Selected Fields list. 19

9. Trailing Periods: This is a trailing statistics table. By default, the table will display the trailing returns, which includes: Last 1 Month, Last 3 Months, Last 6 Months, YTD, Last 1 Year, Last 2 Years, Last 3 Years, Last 5 Years, Last 7 Years, and Last 10 Years. The trailing periods start from your selected end date. You can add and remove statistics from the Selected Fields list. To remove a statistic highlight it in the Selected Fields list and click the red X. To add statistics to the table, double click on the statistic in the Available Data list in the Options panel. The new statistic will be added to the bottom of the Selected Fields list and added as the last column in the table. Tip: You can change the order of the statistics in the table by dragging them up or down in the Selected Fields list. 10. Calendar Year Peer Rankings: This is a calendar year peer table that displays the rankings of your funds relative to the peer universe on calendar year returns. This table is pre-populated with calendar years from YTD 2008 back to 1997. You can add or remove calendar years. To add calendar years, double click Compound ROR in the Available Data area on the right side Options panel. The new statistic is added to the bottom of the Selected Fields list as Compound ROR (Since Inception). Double click on the label to open the Date Options and Calc Options window. Click the Date Options drop-down menu and select Calendar Year. When Calendar Year has been selected, a new drop-down menu appears, allowing you to choose the number of years back you want to produce calendar year returns for. Click Exit to update the chart. To remove a calendar year, highlight the year in the Selected Fields list, and click the red X. 11. Calendar Year Peer Statistics: This table is pre-populated with calendar year returns, from YTD 2008 back to 1997. You can add or remove calendar years. To add calendar years, double click Compound ROR in the Available Data list on the right side Options panel. The new statistic is added to the bottom of the Selected Fields list as Compound ROR (Since Inception). Double click on the label to open the Date Options and Calc Options window. Click the Date Options drop-down menu and select Calendar Year. When Calendar Year has been selected a new drop-down menu appears, allowing you to choose the number of years back you want produce calendar year returns for. Click Exit to update the chart. To remove a calendar year, highlight the year in the Selected Fields list, and click the red X. 12. Calendar Year Peer Universe Statistics: This table provides statistics on the selected peer universe. The peer universe statistics include: Number of funds in the universe for each period, Mean, Median, Standard Deviation, Maximum and Minimum. 13. Single Period Multiple Statistics: This is a table format of the Single Period Multiple Statistics Chart. This is a peer ranking table on multiple statistics over a single period. For example, you could see how your funds were ranked on Compound ROR, Sharpe, Sortino, Drawdown, or any other available statistic, over the last 5 years. This table is user-defined. When this table is added to your report, it appears in a static mode waiting for you to add statistics. Choose the statistics from the Available Data list, by double clicking on them, or clicking the green + sign to add them to the Selected Fields list. The table will update each time a new statistic is added. 14. Trailing Peer Rankings: This is a trailing returns peer table that displays the rankings of your funds relative to the peer universe on trailing returns by default. The table will display the trailing returns which include: Last 1 Month, Last 3 Months, Last 6 Months, 20

YTD, Last 1 Year, Last 2 Years, Last 3 Years, Last 5 Years, Last 7 Years, and Last 10 Years. The trailing periods start from your selected end date. You can remove periods from the Selected Fields list that you don t want to display. You can change the trailing period by double clicking on the Selected Field statistic to open the options window, then making the appropriate selections from the Date Options drop-down menus. 15. Trailing Peer Statistics: The default table displays trailing returns from your selected end date and includes: Last 1 Month, Last 3 Months, Last 6 Months, YTD, Last 1 Year, Last 2 Years, Last 3 Years, Last 5 Years, Last 7 Years, and Last 10 Years. You can remove periods from the Selected Fields list that you don t want to display. You can change the trailing period by double clicking on the Selected Field statistic to open the options window, then making the appropriate selections from the Date Options dropdown menus. 16. Trailing Peer Universe Statistics: This table provides statistics on the selected peer universe. The peer universe statistics include: Number of funds in the universe for each period, Mean, Median, Standard Deviation, Maximum and Minimum. Table Editing/Formatting When a table is placed on the page, a small window with three icons appears on the lower right side of the chart. When you click off of the chart the icons disappear. They will reappear any time you hover over the chart. The circular blue arrows refresh the table. The recycle bin on the right will delete the table. The center icon is the chart format icon. When you click this icon the table is brought to the forefront for editing. The table format options allow for editing the table title, column headers, row headers, fonts, colors, numerical formatting, and single column formatting. Right click on the section you want to format to display an options menu. (See the small figure above and to the right). When you click on an option in that window a large properties menu will appear. (See the large figure to the right). Tip: When you click the edit icon to bring the table to the forefront for editing, the Appearance Options table is docked on the upper left side of the table. It opens when you hover over it and closes when you move away from it. 21

PerTrac Reporting Studio Tips 1. Charts and Tables: The charts and tables listed above, with the exception of the userdefined charts and tables, have default statistics or performance measurements in them. HOWEVER, the default statistics can be replaced with any of the available statistics. Although a rather small number of standard charts and tables are available, they can be transformed in any number of ways by changing the default values. As explained above, when a chart or table is added to the report, an options panel appears on the right side of the screen. The Content tab has two large areas: Available Data and Selected Fields. The Available Data area lists all statistics that can be added to a chart or table. To replace an existing statistic, click on the chart or table, click the Content tab on the Options panel, highlight the statistic in the Selected Fields list, and then click the red X. The Available Data list on the Options panel displays all available statistics that can be added. Double click on the statistic you want to add, or highlight the statistic and click the green + sign. Each time a statistic is added or removed, the chart or table will update. 2. Statistics Options: There is an additional options window available, but not immediately viewable. The Selected Fields list on the right side Options panel displays the statistics currently selected for the chart or table. When you double click on a statistic in the list, a Statistics Options window will open. (See figure at right.) Depending on the statistic, this options window will allow you to change the Date Options (including the numerical value for selected periods) and the Calc Options. It also allows you to calculate statistics on an annualized basis with the Annualize check box. Note: By default, the Annualize check box is checked (for all statistics where annualizing is available) for periods over 1 year. Uncheck this box if you want the statistic calculated on a cumulative rather than annualized basis. 3. Qualitative (Information) Fields: The qualitative information fields present in your PerTrac database (both data vendor-defined fields and user-defined fields) are available for your report. Qualitative fields can be added to any table. Tip: The user-defined Custom table is the best option to construct a qualitative data table on a universe of funds. Once the table has been added to the page, there are three option panel selections for qualitative fields: Type, Vendor and Filter. 22

Type: Click the down arrow next to thetype option. As shown on the figure to the right, the drop-down menu includes Statistic, Common Field, Data Vendor Field and User Field. o Statistic: Lists all available quantitative measures available for charts and tables. o Common Field: Lists the common fields mapped across all hedge fund databases. This allows the user to select a single information field from multiple data vendors. If your report universes contain funds from different hedge fund data vendors, you will only have to select the field once. o Data Vendor Field: Lists the data vendor System Information and System Category fields from the Investment Information pages in the PerTrac Analytical Platform application. o User Field: Lists the User Information and User Category fields from the Investment Information pages in the PerTrac Analytical Platform application. Vendor: The Vendor option only appears when Data Vendor has been selected as the Type. Vendor lists the names of all data sources for funds and benchmarks in your report universes. When you select a specific data vendor on the list, all available vendor information fields will be listed. Filter: The Filter option applies to both quantitative fields and qualitative information fields. The statistics and information fields are listed in sub-groups based on PerTrac categories. 4. Right-click options: When you right-click on an element (chart, table, image or text box), menu options will appear to Cut, Copy, Paste, Refresh, Edit and Delete. 5. Alignment Tool: Once you have drawn your element onto the page, then left-click on the element, you will notice that four green arrows appear around the borders of the element. These are alignment arrows that allow you to snap your elements to align with the borders of your page. They also allow you to align each element on your page with each other. This will keep all elements aligned when printing your report or saving the report as a PDF file. 6. Correlation Statistics: All charts and tables that include correlation statistics, or adding a correlation statistic to any chart or table, requires the selection of a benchmark as the independent variable. By default, PRS will use the first benchmark in your benchmark universe. If, during step 3 of the wizard, you did not select a benchmark universe, the first fund in the manager universe will be selected by default. The correlation benchmark can be changed at any time once the statistic is displayed in the Selected Fields window (shown to the right), located on the Options panel. 23

Double click on a statistic to open a second options window. There is a Benchmark dropdown list to select a new benchmark. This list we include all benchmarks in your benchmark universe. There is also an option Show Manager List that will display a list of the funds in your manager universe if you choose to calculate the correlation statistic(s) relative to a fund versus a benchmark. 24

Generating Report Library Templates The PerTrac Reporting Studio home window contains a Report Library folder containing pre-built report templates. These reports were added during the installation process to provide users with sample reports that can be used in lieu of creating blank reports. These templates will work with any client database or universe and are designed to accommodate varying numbers of funds and benchmarks. Some adjustments may have to be made to the chart and table formats depending on the number of investments in the selected report universe. Note: All reports require the selection of a Manager universe. If the template contains peer analysis, the Report Wizard will also require you to choose a Peer universe. Select Your Report: When you click on a saved report or a prebuilt template in the home window, the Report Preview window will display a preview of the report. As you click through the available templates, the preview window will display the report. After selecting your desired report, click Open on the lower right of the home window. 1. Report Wizard Step 1: After clicking Open, you will move to step one of the four-step Report Wizard. The name and description will contain information added when the report was created. You can edit this data by renaming the report or changing the description. Note: When you view a report in the home window, you will notice the report is populated with data. This is sample data used for constructing the report. This data will be removed when you have completed the report wizard. 2. Report Wizard Step 2: Select the PerTrac database containing the investments you wish to include in your report. 3. Report Wizard Step 3: Select your desired Calculation Options, Investment Options, and universe selections. Note: You are required to select a Manager universe. If the pre-built template includes peer analysis, you will also be prompted to select a Peer universe. 4. Report Wizard Step 4: The pre-built reports are designed with specific page layouts. It is not recommended that you change these options until the report is generated. Keep the settings and click Complete on the lower right. 5. Report Design Window: Once you have completed the Report Wizard process, the report opens in the report design window. This report works like user-created reports except that the content has already been added to the pages. If no additional changes are required to the formatting or content of the report, you can immediately print it, save it as a PDF file, or export it to Excel. 25

6. Editing the Elements: All chart and table elements in the pre-built reports can be edited by hovering over an element and clicking the Edit icon that appears at the lower right corner. 7. Element Overrides: The date ranges, investments, and statistics can be changed on the options panel located at the right side of the report design window. 8. Page Formats: As with all reports, you can insert pages, delete pages, and change the orientation and page size. 9. Save the Report: When your changes have been made, save the report. Your saved report can be run at any time. Note: Once your report has been saved, and re-opened, you will not be prompted through the wizard process. The report will open directly to the design window, at which point you can change the inputs. 26