The Cambridge Strategy - Foreign Exchange Financial Trading Investment Management

ASIAN EMERGING MARKETS ALPHA PROGRAMME

Current Month Performance - December 2008

Jun 2007

Sept 2007

Apr 2008	May 2008	Jun 2008	July 2008	Aug 2008	Sep 2008	Oct 2008	Nov 2008

Previous Day's Performance :                                  +0.05%

Month to Date:                                                          +0.20%

Year to Date                                                               +7.72%

12 Months to Date:                                                   +7.36%

Historical Performance

Daily Return (as at close of business PT)

Date	NAV	Cumulative Return Month	Fundamental	Technical
1st December	162.20	+1.75%	0.00%	+1.75%
2nd December	162.04	+1.56%	0.00%	+1.56%
3rd December	161.68	+1.20%	0.00%	+1.20%
4th December	161.68	+1.20%	0.00%	+1.20%
5th December	162.34	+1.86%	0.00%	+1.86%
6th December	162.34	+1.86%	0.00%	+1.86%
7th December	162.34	+1.86%	0.00%	+1.86%
8th December	161.31	+0.83%	0.00%	+0.83%
9th December	161.61	+1.13%	0.00%	+1.13%
10th December	162.53	+2.05%	0.00%	+2.05%
11th December	160.59	+0.08%	0.00%	+0.08%
12th December	160.70	+0.15%	0.00%	+0.15%
13th December	160.70	+0.15%	0.00%	+0.15%
14th December	160.70	+0.15%	0.00%	+0.15%
15th December	160.67	+0.13%	0.00%	+0.13%
16th December	160.62	+0.12%	0.00%	+0.12%
17th December	160.69	+0.15%	0.00%	+0.15%
18th December	160.75	+0.20%	0.00%	+0.20%
19th December	161.73	+0.19%	0.00%	+0.19%
20th December	161.73	+0.19%	0.00%	+0.19%
21st December	161.73	+0.19%	0.00%	+0.19%
22nd December	161.72	+0.18%	0.00%	+0.18%
23rd December
24th December
25th December
26th December
27th December
28th December
29th December
30th December

NOTES TO PERFORMANCE:

Reported performance is calculated using the weighted average of the gross returns of managed accounts.