Date ID P1 P5 P5-P1 ER

5/31/1993 PAK 0.071019 0.091602 0.020584 12.40095

6/30/1993 PAK 0.119599 0.047476 -0.072123 12.40095
7/30/1993 PAK 0.083063 0.111922 0.028859 12.40095
8/31/1993 PAK -0.044665 -0.109453 -0.064788 12.40095
9/30/1993 PAK 0.051069 -0.009931 -0.060999 12.40095
10/29/1993 PAK 0.167963 0.18222 0.014257 12.40095
11/30/1993 PAK 0.090635 0.110263 0.019628 12.40095
12/31/1993 PAK 0.269904 0.104172 -0.165731 12.40095
1/31/1994 PAK 0.125245 0.082289 -0.042956 12.40095
2/28/1994 PAK 0.180441 0.041669 -0.138772 12.40095
3/31/1994 PAK 0.076551 0.329857 0.253306 12.40095
4/29/1994 PAK -0.037536 0.077702 0.115238 12.40095
5/31/1994 PAK -0.021685 0.089337 0.111022 12.40095
6/30/1994 PAK 0.116124 0.033731 -0.082393 12.40095
7/29/1994 PAK -0.003086 -0.0088 -0.005714 12.40095
8/31/1994 PAK -0.060116 -0.047315 0.012801 12.40095
9/30/1994 PAK 0.03328 -0.015449 -0.04873 12.40095
10/31/1994 PAK -0.063427 0.052777 0.116205 12.40095
11/30/1994 PAK -0.047946 -0.068822 -0.020876 12.40095
12/30/1994 PAK -0.081554 -0.022778 0.058776 12.40095
1/31/1995 PAK -0.132824 -0.077652 0.055171 12.40095
2/28/1995 PAK 0.059508 0.008771 -0.050737 12.40095
3/31/1995 PAK -0.122713 -0.066883 0.05583 12.40095
4/28/1995 PAK -0.059278 -0.072947 -0.013669 12.40095
5/31/1995 PAK -0.060462 -0.070195 -0.009733 12.40095
6/30/1995 PAK -0.024917 0.006562 0.03148 12.40095
7/31/1995 PAK 0.201762 0.099164 -0.102598 12.40095
8/31/1995 PAK -0.018601 0.052921 0.071521 12.40095
9/29/1995 PAK -0.081462 -0.055984 0.025477 12.40095
10/31/1995 PAK -0.081843 0.040203 0.122046 12.40095
11/30/1995 PAK -0.140553 -0.148592 -0.008039 12.40095
12/29/1995 PAK 0.087277 0.148839 0.061562 12.40095
1/31/1996 PAK 0.034798 0.047534 0.012736 12.40095
2/29/1996 PAK 0.01123 -0.004497 -0.015728 12.40095
3/29/1996 PAK -0.163545 -0.098097 0.065448 12.40095
4/30/1996 PAK -0.000332 -0.072098 -0.071766 12.40095
5/31/1996 PAK 0.042726 0.057093 0.014367 12.40095
6/28/1996 PAK -0.077116 -0.124219 -0.047103 12.40095
7/31/1996 PAK -0.127648 -0.129505 -0.001857 12.40095
8/30/1996 PAK -0.049786 0.069932 0.119717 12.40095
9/30/1996 PAK 0.019482 0.093924 0.074442 12.40095
10/31/1996 PAK 0.064781 0.075258 0.010477 12.40095
11/29/1996 PAK 0.091795 0.271504 0.179709 12.40095
12/31/1996 PAK -0.13223 0.00438 0.136611 12.40095
 1/31/1997 PAK 0.213692 0.164578 -0.049115 12.40095
2/28/1997 PAK 0.120364 0.475196 0.354832 12.40095
3/31/1997 PAK -0.092082 -0.089939 0.002143 12.40095
4/30/1997 PAK -0.059383 -0.042469 0.016915 12.40095
5/30/1997 PAK -0.043196 -0.11642 -0.073224 12.40095
6/30/1997 PAK -0.005801 -0.014228 -0.008427 12.40095
7/31/1997 PAK 0.247932 0.203467 -0.044466 12.40095
8/29/1997 PAK -0.182222 -0.094497 0.087725 12.40095
9/30/1997 PAK 0.010556 -0.04887 -0.059426 12.40095
10/31/1997 PAK -0.019501 -0.008902 0.010598 12.40095
11/28/1997 PAK -0.051488 -0.064723 -0.013236 12.40095
12/31/1997 PAK -0.030698 0.036557 0.067254 12.40095
1/30/1998 PAK -0.08152 0.034033 0.115553 12.40095
2/27/1998 PAK 0.012294 -0.008232 -0.020526 12.40095
3/31/1998 PAK -0.056085 0.024421 0.080505 12.40095
4/30/1998 PAK -0.007682 0.017491 0.025173 12.40095
5/29/1998 PAK -0.271214 -0.066962 0.204252 12.40095
6/30/1998 PAK -0.12973 0.158786 0.288515 12.40095
7/31/1998 PAK 0.040481 -0.029703 -0.070184 12.40095
8/31/1998 PAK 0.007352 0.034765 0.027412 12.40095
9/30/1998 PAK 0.190642 0.133936 -0.056706 12.40095
10/30/1998 PAK -0.222782 -0.145645 0.077137 12.40095
11/30/1998 PAK 0.294239 0.139711 -0.154528 12.40095
12/31/1998 PAK -0.101205 -0.017886 0.083319 12.40095
1/29/1999 PAK -0.038788 0.117799 0.156587 51.02041
2/26/1999 PAK 0.097752 0.226723 0.128972 51.22426
3/31/1999 PAK 0.150306 -2.52E-05 -0.150331 49.95005
4/30/1999 PAK 0.036842 0.054238 0.017396 50.71508
5/31/1999 PAK 0.019649 0.129024 0.109375 51.95075
6/30/1999 PAK -0.102748 -0.088401 0.014348 51.59959
7/30/1999 PAK 0.214577 0.168467 -0.04611 51.21377
8/31/1999 PAK -0.002685 0.139497 0.142182 51.87529
9/30/1999 PAK -0.043941 -0.054243 -0.010302 51.78932
10/29/1999 PAK 0.021894 0.054818 0.032924 51.88875
11/30/1999 PAK 0.076808 0.093831 0.017023 51.95075
12/31/1999 PAK 0.163387 0.063771 -0.099616 51.81616
1/31/2000 PAK 0.245212 0.339796 0.094584 51.88606
2/29/2000 PAK 0.064687 0.228033 0.163346 51.97505
3/31/2000 PAK 0.078035 0.040062 -0.037973 51.89952
4/28/2000 PAK -0.026662 0.290054 0.316715 51.95075
5/31/2000 PAK -0.238473 -0.131141 0.107332 51.87529
6/30/2000 PAK -0.086878 -0.00133 0.085548 52.32589
7/31/2000 PAK 0.058332 0.037072 -0.02126 53.37603
8/31/2000 PAK -0.029836 0.045824 0.07566 54.57622
9/29/2000 PAK 0.037192 0.083771 0.046579 58.2513
10/31/2000 PAK -0.058383 0.039048 0.097431 57.07437
11/30/2000 PAK -0.146315 -0.028882 0.117433 57.55064
12/29/2000 PAK 0.166774 0.035548 -0.131226 58.14968
1/31/2001 PAK -0.005587 0.075139 0.080726 59.04931
2/28/2001 PAK -0.051093 0.042453 0.093546 59.94844
3/30/2001 PAK -0.079559 -0.017796 0.061763 60.74965
4/30/2001 PAK 0.054946 0.098964 0.044018 61.24824
5/31/2001 PAK 0.025349 0.02625 0.000901 63.25111
6/29/2001 PAK -0.015616 -0.016791 -0.001175 63.84881
7/31/2001 PAK -0.113499 -0.041385 0.072114 63.90185
8/31/2001 PAK 0.009674 0.096384 0.08671 63.95089
9/28/2001 PAK -0.130572 -0.026994 0.103578 64.09846
10/31/2001 PAK 0.301874 0.104756 -0.197118 61.34969
11/30/2001 PAK -0.046552 0.005478 0.05203 60.80136
12/31/2001 PAK -0.080588 0.019427 0.100014 59.90176
1/31/2002 PAK 0.421164 0.190889 -0.230275 60.09977
2/28/2002 PAK 0.039246 -0.03094 -0.070186 60.09977
3/29/2002 PAK 0.120226 0.047 -0.073226 60.02401
4/30/2002 PAK 0.055627 0.198565 0.142938 59.97361
5/31/2002 PAK -0.146229 -0.003179 0.14305 60.07449
6/28/2002 PAK 0.068747 0.079545 0.010798 60.006
7/31/2002 PAK 0.003978 -0.00287 -0.006848 59.52381
8/30/2002 PAK 0.101121 0.057963 -0.043158 59.32606
9/30/2002 PAK 0.032558 -0.066812 -0.099369 58.97617
10/31/2002 PAK 0.130557 0.170466 0.039909 58.72335
11/29/2002 PAK -0.00908 0.056705 0.065785 58.25469
12/31/2002 PAK 0.142711 0.112616 -0.030095 58.22416
1/31/2003 PAK -0.049005 0.022341 0.071346 58.04841
2/28/2003 PAK -0.056424 -0.030776 0.025648 58.10913
3/31/2003 PAK 0.152085 0.152654 0.000569 58.07538
4/30/2003 PAK 0.093064 0.216611 0.123547 57.81349
5/30/2003 PAK 0.113848 0.350427 0.236579 57.58047
6/30/2003 PAK 0.158743 0.212597 0.053854 57.75006
7/31/2003 PAK 0.200969 0.18977 -0.011199 57.65018
8/29/2003 PAK 0.136263 0.040481 -0.095783 57.69342
9/30/2003 PAK -0.144143 0.083357 0.227501 57.78343
10/31/2003 PAK -0.100495 0.03103 0.131525 57.37564
11/28/2003 PAK 0.176013 0.086314 -0.089698 57.55064
12/31/2003 PAK 0.11597 0.155257 0.039287 57.23116
1/30/2004 PAK 0.118185 0.320186 0.202001 57.6236
2/27/2004 PAK -0.024496 0.073363 0.09786 57.39869
3/31/2004 PAK 0.133848 0.194473 0.060625 57.30002
4/30/2004 PAK 0.100056 0.06558 -0.034476 57.29346
5/31/2004 PAK 0.072824 0.193044 0.12022 57.67345
6/30/2004 PAK -0.02936 0.002799 0.032159 57.99119
 7/30/2004 PAK -0.015957 -0.038454 -0.022497 58.36008
8/31/2004 PAK 0.024284 0.193119 0.168834 58.63383
9/30/2004 PAK -0.015205 -0.033672 -0.018467 59.12612
10/29/2004 PAK -0.003153 0.035278 0.038432 61.05006
11/30/2004 PAK 0.064694 0.091109 0.026415 59.67655
12/31/2004 PAK 0.13619 0.068104 -0.068086 59.42477
1/31/2005 PAK 0.070674 0.06668 -0.003995 59.31902
2/28/2005 PAK 0.156172 0.083429 -0.072743 59.34366
3/31/2005 PAK -0.079391 -0.07062 0.008771 59.38948
4/29/2005 PAK -0.028473 0.119901 0.148374 59.48132
5/31/2005 PAK -0.103374 -0.123275 -0.019901 59.55571
6/30/2005 PAK 0.073523 0.179421 0.105898 59.70149
7/29/2005 PAK 0.02086 -0.079794 -0.100654 59.65875
8/31/2005 PAK 0.05916 0.050375 -0.008784 59.64096
9/30/2005 PAK 0.149302 0.232428 0.083126 59.70149
10/31/2005 PAK 0.073434 0.009021 -0.064413 59.71575
11/30/2005 PAK 0.128728 0.187224 0.058497 59.70862
12/30/2005 PAK 0.071741 0.196114 0.124373 59.76929
1/31/2006 PAK 0.158296 0.07127 -0.087027 59.85873
2/28/2006 PAK 0.025478 -0.023723 -0.049202 59.88024
3/31/2006 PAK -0.005978 -0.013001 -0.007023 60.12145
4/28/2006 PAK -0.024602 -0.007807 0.016796 59.9988
5/31/2006 PAK -0.135013 -0.043748 0.091266 60.15038
6/30/2006 PAK -0.016811 0.002405 0.019216 60.35003
7/31/2006 PAK 0.099819 0.037568 -0.062251 60.28091
8/31/2006 PAK -0.037965 0.004885 0.042851 60.37554
9/29/2006 PAK 0.049203 0.022741 -0.026462 60.57669
10/31/2006 PAK 0.027586 0.11074 0.083154 60.55101
11/30/2006 PAK -0.019684 -0.044026 -0.024342 61.03143
12/29/2006 PAK -0.050781 0.054249 0.10503 60.79027
1/31/2007 PAK 0.069674 0.031619 -0.038055 60.66121
2/28/2007 PAK -0.021475 0.004994 0.026469 60.90134
3/30/2007 PAK 0.026686 0.0195 -0.007186 60.96074
4/30/2007 PAK 0.137395 0.11504 -0.022355 60.72014
5/31/2007 PAK 0.114748 0.088923 -0.025826 60.74965
6/29/2007 PAK 0.121398 0.092058 -0.029339 60.51071
7/31/2007 PAK -0.005864 0.081363 0.087227 60.49973
8/31/2007 PAK -0.101738 0.095471 0.197209 60.70908
9/28/2007 PAK 0.132445 0.157391 0.024946 60.67961
10/31/2007 PAK 0.110091 0.11498 0.004889 60.74965
11/30/2007 PAK -0.032066 0.179238 0.211305 61.24824
12/31/2007 PAK -0.00479 0.040717 0.045507 61.64848
1/31/2008 PAK 0.000325 0.002829 0.002504 62.69986
2/29/2008 PAK 0.057888 0.016126 -0.041762 62.69986
3/31/2008 PAK 0.021249 0.02988 0.008631 62.69986
 4/30/2008 PAK 0.045916 0.049417 0.003502 64.59948
5/30/2008 PAK -0.242696 -0.088353 0.154344 66.4496
6/30/2008 PAK 0.044256 0.001042 -0.043215 68.19887
7/31/2008 PAK -0.181626 -0.100001 0.081624 71.50007
8/29/2008 PAK -0.152016 -0.183303 -0.031287 75.79777
9/30/2008 PAK 0.0031 0.201625 0.198525 77.99704
10/31/2008 PAK 0.0031 -0.00844 -0.011541 81.52617
11/28/2008 PAK 0.0031 -0.18179 -0.18489 78.40063
12/31/2008 PAK -0.426447 -0.426401 4.643E-05 79.12644
1/30/2009 PAK -0.041468 0.208505 0.249973 79.05138
2/27/2009 PAK -0.070912 0.052867 0.12378 79.75118
3/31/2009 PAK 0.202356 0.183951 -0.018404 80.42464
4/30/2009 PAK 0.095342 0.14012 0.044778 80.19889
5/29/2009 PAK 0.038538 -0.00347 -0.042009 81.103
6/30/2009 PAK -0.023228 -0.069591 -0.046363 81.40008
7/31/2009 PAK 0.127658 0.135115 0.007457 82.89812
8/31/2009 PAK 0.014144 0.061367 0.047223 82.92562
9/30/2009 PAK 0.109912 0.10536 -0.004552 83.17392
10/30/2009 PAK 0.004305 0.028775 0.024469 83.40284
11/30/2009 PAK 0.042923 -0.042452 -0.085375 83.25008
12/31/2009 PAK 0.065771 0.095334 0.029563 84.40243
1/29/2010 PAK 0.055458 0.136605 0.081147 84.6525
2/26/2010 PAK 0.015005 0.194983 0.179978 85.14986
3/31/2010 PAK 0.024144 -0.061988 -0.086131 83.99832
4/30/2010 PAK -0.008519 0.07396 0.08248 83.99832
5/31/2010 PAK -0.147135 -0.125253 0.021882 85.20065
6/30/2010 PAK 0.00623 -0.038281 -0.044511 85.60178
7/30/2010 PAK 0.086416 0.236274 0.149859 85.3024
8/31/2010 PAK -0.103045 -0.03984 0.063205 85.49932
9/30/2010 PAK 0.013068 0.043847 0.030778 86.34833
10/29/2010 PAK 0.064573 0.114698 0.050125 85.91803
11/30/2010 PAK 0.080727 0.059376 -0.021351 85.80009
12/31/2010 PAK 0.045606 0.14916 0.103554 85.69715
1/31/2011 PAK 0.023478 -0.035359 -0.058837 85.69715
2/28/2011 PAK -0.08503 -0.01212 0.07291 85.74859
3/31/2011 PAK 0.067718 0.040849 -0.026869 85.3971
4/29/2011 PAK -0.014258 0.099749 0.114007 84.80326
5/31/2011 PAK 0.015179 -0.044598 -0.059777 86.05111
6/30/2011 PAK -0.006153 0.013637 0.01979 86.05111
7/29/2011 PAK -0.01999 -0.020358 -0.000368 86.6476
8/31/2011 PAK -0.090823 -0.074645 0.016179 87.32099
9/30/2011 PAK 0.076817 0.047932 -0.028886 87.49672
10/31/2011 PAK -0.020465 -0.050691 -0.030227 86.55011
11/30/2011 PAK -0.047761 0.009027 0.056788 88.74689
12/30/2011 PAK -0.02601 -0.027458 -0.001449 89.87956
 1/31/2012 PAK 0.060539 0.044254 -0.016286 90.39957
2/29/2012 PAK 0.09873 0.068689 -0.030041 91.01666
3/30/2012 PAK 0.118463 0.08902 -0.029443 90.62075
4/30/2012 PAK 0.001477 0.078675 0.077198 91.09957
5/31/2012 PAK 0.010477 0.218062 0.207585 93.6505
6/29/2012 PAK -0.032973 -0.034345 -0.001372 94.65215
7/31/2012 PAK 0.065398 0.079545 0.014147 94.59843
8/31/2012 PAK 0.057843 0.162474 0.104631 94.55371
9/28/2012 PAK 0.011487 0.070395 0.058908 94.90367
10/31/2012 PAK 0.031561 0.047203 0.015642 95.92326
11/30/2012 PAK 0.069292 0.161146 0.091854 96.58103
12/31/2012 PAK 0.0178 0.02161 0.00381 97.2668
1/31/2013 PAK 0.022722 -0.020362 -0.043084 97.70396
2/28/2013 PAK 0.067506 0.054332 -0.013175 98.22218
3/29/2013 PAK -0.006499 0.018271 0.024771 98.45427
4/30/2013 PAK 0.058708 0.119088 0.06038 98.50276
5/31/2013 PAK 0.174178 0.139755 -0.034422 98.52217
6/28/2013 PAK -0.030378 -0.001391 0.028987 99.55202
7/31/2013 PAK 0.155116 0.072313 -0.082802 101.6984
8/30/2013 PAK -0.097506 -0.035112 0.062394 104.5041
9/30/2013 PAK -0.020769 0.037337 0.058106 105.8537
10/31/2013 PAK 0.004869 -0.052687 -0.057556 106.8034
11/29/2013 PAK 0.087893 0.136432 0.048539 108.4481
12/31/2013 PAK 0.081556 0.162199 0.080644 105.3519
1/31/2014 PAK 0.074873 0.195073 0.1202 105.5186
2/28/2014 PAK -0.042606 -0.111428 -0.068822 104.8988
3/31/2014 PAK 0.080117 0.02168 -0.058437 98.29942
4/30/2014 PAK 0.063638 0.026835 -0.036803 98.64852
5/30/2014 PAK 0.045654 0.072609 0.026955 98.6972
6/30/2014 PAK -0.001565 0.019427 0.020992 98.67772
7/31/2014 PAK 0.045544 -0.025061 -0.070605 98.77519
8/29/2014 PAK -0.08997 -0.010287 0.079682 101.8537
9/30/2014 PAK 0.112564 0.066203 -0.046361 102.5957
10/31/2014 PAK 0.06161 0.056163 -0.005447 102.7538
11/28/2014 PAK 0.103806 0.062891 -0.040914 101.8019
12/31/2014 PAK 0.027183 0.005741 -0.021441 100.7963
1/30/2015 PAK 0.100571 0.01082 -0.089751 101.102
2/27/2015 PAK -0.034044 -0.005268 0.028776 101.8537
3/31/2015 PAK -0.127365 -0.135514 -0.008149 101.9056
4/30/2015 PAK 0.154531 0.045841 -0.10869 101.8537
5/29/2015 PAK -0.018291 0.033851 0.052142 102.02
6/30/2015 PAK 0.097977 0.112704 0.014726 101.8537
7/31/2015 PAK 0.073794 0.076167 0.002373 101.8745
8/31/2015 PAK -0.003825 0.058279 0.062104 104.1233
9/30/2015 PAK -0.090923 -0.00712 0.083804 104.4714
10/30/2015 PAK 0.080737 0.038713 -0.042024 105.3963
11/30/2015 PAK -0.060327 -0.025648 0.034679 105.4964
12/31/2015 PAK 0.021149 -0.029533 -0.050683 104.8548
1/29/2016 PAK -0.031979 -0.025311 0.006668 104.8548
2/29/2016 PAK -0.031704 -0.024473 0.007232 104.8108
3/31/2016 PAK 0.061026 0.004522 -0.056505 104.7559
4/29/2016 PAK 0.063787 0.080533 0.016746 104.7779
5/31/2016 PAK 0.035151 0.133349 0.098199 104.8108
6/30/2016 PAK 0.013727 -0.03724 -0.050967 104.734
7/29/2016 PAK 0.086235 0.01687 -0.069365 104.8108
8/31/2016 PAK 0.057214 0.115164 0.05795 104.723
9/30/2016 PAK 0.068243 0.099646 0.031403 104.5041
10/31/2016 PAK -0.03137 0.025539 0.056908 104.7779
11/30/2016 PAK 0.123861 0.196373 0.072511 104.8548
12/30/2016 PAK 0.07247 0.099729 0.027259 104.3732
1/31/2017 PAK 0.067881 0.018874 -0.049007 104.7449
2/28/2017 PAK -0.018977 0.059139 0.078115 104.7889
3/31/2017 PAK 0.029864 0.019664 -0.0102 104.8108
4/28/2017 PAK 0.048591 0.017761 -0.03083 104.723
5/31/2017 PAK 0.034337 0.046255 0.011919 104.8108
6/30/2017 PAK -0.10568 -0.028971 0.076708 104.8548
7/31/2017 PAK 0.002679 -0.011121 -0.0138 105.3963
8/31/2017 PAK -0.114783 -0.032504 0.082279 105.2299
9/29/2017 PAK 0.01164 -0.008259 -0.019899 105.4074
Details:
Country = Pakistan
P1 = Liquid Portfolio (in Local Currency)
P5 = Illiquid Portfolio (in Local Currency)
P5-P1 = Long/Short Portfolio (in Local Currency)
ER = 1 USD to PKR