Prime 2013 Year End Shareholder Letter

In 2013 our low-net long/short equity fund returned 33.06%, net of fees, marking our fifth straight year of positive returns since inception. This brought our average annual return to 37.01%, and our aggregate return over the past five years to 382.85%. Our long-only portfolio, which is a subset of our long/short product, delivered a gain of 115.06% net of fees last year, bringing its average annual return to 61.65% and its overall gain to 984.22%.