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Annualized Returns as of 9.30.18

MTD QTD YTD 1 YEAR 3 YEAR 5 YEAR 10 YEAR SINCE INCEPTION (1/1/08)
Goodwood Long Short (net) -0.29% 0.28% 10.21% 15.09% 8.59% 1.18% 10.20% 7.95%
Morningstar Cat: Long Short Equity -0.03% 2.87% 2.09% 5.66% 5.43% 3.97% 3.33% 2.16%

Cumulative Total Return as of 9.30.18

Monthly and Calendar Year Returns as of 9.30.18 (net of fees)

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD
2018  6.12%  -6.26%  0.58% -0.13 8.34 1.52% -0.61% 1.19% -0.29%  10.21%
2017  4.63%  -4.05%  -2.99%  -1.83%  -6.44%  4.28%  -0.47% -3.48%  2.08%  -2.79%  6.73%  0.65%  -4.48%
2016 -5.12% 4.06% 5.89% 10.23% -2.43% -5.55% 3.08% 4.54% 7.28% -5.65% 10.50  -4.93% 21.68%
2015 -6.69% 8.41% 1.61% -2.35% 2.37% -1.54% -2.83% -0.85% -13.06% 6.04% 1.11% -6.77% -15.29%
2014 -3.04% 4.93% -1.81% -5.12% -0.99% 6.14% -4.66% 6.81% -4.58% -1.02% -5.21% -2.36% -11.35%
2013 7.05% -1.42% 2.35% -1.91% 0.77% 1.48% 3.89% 1.91% 5.03% 2.76% 6.10% 1.09% 32.78%
2012 3.36% 1.40% 0.79% 0.02% -4.23% 3.43% -3.62% 2.45% -0.69% 1.59% -0.32% 2.73% 6.77%
2011 3.05% 10.00 5.31% -3.07% -3.16% -4.22% -0.08% -9.25% -6.65% 19.49% -5.77% -3.86% -1.67%
2010 -10.76% 1.80% 3.82% 0.62% 6.68% -6.78% 1.58% -8.51% -5.82% 6.45% 1.55% 12.94% 0.84%
2009 -14.72% -12.97% 8.47% 9.22% 38.03% 2.00% 6.38% -2.55% 13.48% -9.33% 37.91% 14.07% 107.72%
2008 5.58% -4.98% -0.27% 12.11% 6.51% -4.57% -18.18% -1.28% -6.49% 7.80% -14.30% 1.81% -19.00%