Current gross and net portfolio returns for the New Leaf funds and for the healthcare technology portfolios in the Sprout Funds are detailed in the following chart:
Chart 1: Returns by Fund
As of March 31, 2014 Fund: Fund Size: Paid-In Capital Vintage Year:
First Investment 1995 1995 1998 2000 2005 2008
($ in millions)
Gross Fund Returns ex Kamien |!” Total Multiple ‘f 4.4x 2.6x 1.7x 2.0x 2.1x 1.8x Realized Multiple 4.4x 2.6x 1.7x 2.2x 1.7x 2.0x Total IRR ° D 44% 19% 10% 15% 19% 30% Realized IRR 44% 19% 10% 17% 23% 33% Net Fund Returns
ok ok ok ok Net Total Multiple 3.69x , 2.17x , 1.49x , 1.66x , 1.75x 1.45x Net Total IRR _ 28.9% - 12.0% 6.0% 9.3% 12.0% 16.7% Net Distributed / Paid-In Multiple | 3.69x 2.17x ~ 1.49x- 1.55x 0.51x 0.50x Net Distributed $s to LPs $56.3 $207.0 $218.7 $LO71.5 $154.7 $204.2 Interim Fund Liquidity Metrics (Distributed + Public) / Paid-In Multiple H -- - -- 1.62x 0.74x 1.18x (Distributed + Liquid Public) / Paid-In Multiple -- -- -- 1.58x 0.57x 0.75x IRR Outperformance Versus Public Indices eS PME+ (Basis Points over S&P 500 Healthcare Sector) +2,064 bps +302 bps +441 bps +776 bps +201 bps -187 bps PME+ (Basis Points over S&P 500) - +2,258 bps +568 bps +587 bps +638 bps +496 bps +275 bps PME+ (Basis Points over Russell 3000) sew +2,215 bps +554 bps +502 bps +565 bps +446 bps +218 bps PME+ (Basis Points over Nasdaq Composite) +2,125 bps +554 bps +725 bps +451 bps +181 bps -21 bps
NLV and Sprout fund data as of March 31, 2014. Sprout fund statistics computed based on healthcare portfolio within Sprout. *See Appendix 2 and endnotes A and E in Appendix 4. Based on synthetic funds with assumptions around recycling and fee structure. ** Based on Public Market Equivalent (PME+) methodology. See Appendix 3 and endnotes A, B, E and G in Appendix 4.
Please Section XII: “Appendices” for definitions of terms and/or methodology.
21 CONTROL NUMBER 257 - CONFIDENTIAL
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