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Website: www.jaccap.com
JAC Long-Short Equity Fund ("Fund") is a long/short equity fund whose investment objective is to generate attractive and consistent returns with moderate risk
while giving investors exposure to less widely held securities. The Fund's strategy combines fundamental bottom-up and event driven analysis with top-down
secular and thematic insights to find asymmetric risk/reward opportunities. The Fund invests primarily in the equity of small and mid-cap, publicly traded,
exchange listed companies in the US and Canada.
Current
Net
Exposure
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
YTD
2015
0.93% *
2014
0.37%
10.74%
-6.23%
-2.75%
-2.14%
4.19%
-2.32%
-1.25%
-0.87%
-5.25%
4.98%
-5.30%
-6.90%
0.93% * 17.00%
34.39%**
2013
2.12%
-1.19%
2.32%
4.50%
2.56%
-0.61%
2.88%
-2.31%
3.95%
2.92%
1.54%
-1.35%
18.45%
34.83%**
2012
3.27%
-0.55%
0.07%
1.45%
0.62%
0.49%
2.96%
0.23%
1.65%
-1.22%
-0.73%
-4.33%
3.76%
22.24%**
-0.08%
4.65%
-0.03%
-1.47%
3.00%
11.63%**
2011
CUMULATIVE NET RETURNS
RUSSELL 2
JAC
JAC
80%
Russell
70%
60%
18.95%*
68.10%
26.45%
5.21%
16.42%
7.29%
0.47%
1.38%
0.60%
30%
11.14%
16.34%
6.03%
20%
0.46
1.00
1.21
10%
-16.24%
-11.21%
-4.32%
0%
53.7%
63.4%
65.0%
-10%
0.32
0.45
-20%
Gross
Net
Consumer Discretionary
9.3%
-10.3%
19.6%
-1.0%
Consumer Staples
3.9%
-2.0%
5.9%
1.9%
Energy
2.6%
0.0%
2.6%
2.6%
Financials
1.9%
-6.3%
8.2%
-4.4%
1.3%
-1.3%
1.3%
6.5%
-6.7%
13.2%
-0.2%
Top 5 Positions
25.2%
-8.2%
33.4%
17.0%
Top 10 Positions
39.4%
-14.0%
53.4%
25.4%
> $10B
Industrials
Information Technology
14.6%
0.0%
14.6%
14.6%
Materials
0.0%
0.0%
0.0%
0.0%
Telecommunication Services
4.7%
-2.5%
7.2%
2.2%
Minimum Investment
Management Fee
Performance Fee
September, 2011
Long/Short Equity
Yes
Master Fund: Cayman LP
Domestic Feeder: Delaware LLC
Offshore Feeder: Cayman Company
$1M
1.5%
15%
Prime Broker
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Jan-15
Nov-14
Net
-26.4%
69.8%
17.0%
14
21
35
Subscription
Redemption
Lock-Up Period
Hurdle
Gates
Side Pocket
Administrator
Auditor
Legal Counsel
Sep-14
Jul-14
May-14
Gross
43.4%
74.3%
FUND INFORMATION
Inception Date
Strategy
Open to New Investors
Legal Structure
Mar-14
Jan-14
Nov-13
Sep-13
Jul-13
May-13
Mar-13
Jan-13
Nov-12
Sep-12
Jul-12
* Estimate
May-12
Correlation to JAC
Mar-12
% of Positive Months
Jan-12
Max Drawdown
Nov-11
Sharpe Ratio 3
40%
Sep-11
Standard Deviation
50%
Monthly
Monthly with 60 days notice
None
None
None
None
SS&C Technologies, Inc.
KPMG
US: Bingham McCutchen LLP
Cayman: Walkers
BTIG (JPMorgan - Custodian)
22.9%
Net
2.9%
2. The indices are included merely to show the general trends in equity markets and are not intended to imply that the portfolio owned by JAC Long-Short Equity
Master Fund, LP (the "Master Fund") would be comparable to any index either in composition or element of risk. The Russell 2000 Index is an equal weighted
index of the smallest market capitalization stocks in the Russell 3000 and measures the performance of the small-cap segment of the U.S. equity universe. The
HFN Long/Short Equity Index is an equal-weighted index of over 1,000 long/short equity funds that report to HFN Database and is intended to track the
performance of long/short equity hedge funds.
3. The average daily 1 Month US Treasury Bill rate was used to calculate Sharpe Ratio.
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