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2013 SunTrust 2nd Quarter Investment ReviewInvestment Review Village of North Palm Beach General Employees' Pension Plan Second Quarter 2013 Blake Myton First Vice President & Investment Advisor SunTrust Bank, Inc. Institutional Investment Solutions 407 - 237 -5816 blake.myton @suntrust.com ,1u�iG SuNTRuST Lisa Allen Vice President, Trust Advisor SunTrust Bank, Inc. Employee Benefit Solutions 404 - 827 -6724 lisa.allen @suntrust.com Table of Contents I. Market and Economic Update 11. Sun Trust Portfolio Composition and Performance 111. Fund Fact Sheets IV. Appendix • All Available Sun Trust Platform Options • Disclosures SU NTIZUST ,1o�iG SuNTRuST 1. Market and Economic Update Performance Summary Through June 2013 index - - 1:111 s I 1 If, 1 I:hiiYA 72: 113 72: 113 3126113 12131112 72:112 72712 MSCI ACWI (net) (2.92) (0.42) 6.05 16.57 12.36 2.30 U.S. Fed Funds Rate 0.25 0.25 0.25 0.25 0.25 0.25 MSCI World (net) (2.46) 0.65 8.43 18.58 13.72 2.70 European Central Bank Rate 0.50 0.50 0.75 0.75 0.75 1.00 MSCI EAFE LCL (net) (3.65) 1.21 11.01 24.93 8.97 1.16 Bank of England Rate 0.50 0.50 0.50 0.50 0.50 0.50 MSCI EAFE USD (net) (3.55) (0.98) 4.10 18.62 10.04 (0.63) Bank of Japan Rate 0.10 0.10 0.10 0.10 0.10 0.10 MSCI Emerging Markets LCL (net) (5.09) (4.42) (4.89) 6.09 5.00 2.11 USA LIBOR - 3 Month 0.27 0.27 0.28 0.31 0.36 0.46 MSCI Emerging Markets USD (net) (6.37) (8.08) (9.57) 2.87 3.38 (0.43) TED Spread (bps) - 3 Month 0.24 0.24 0.22 0.26 0.26 0.37 Dow Jones Industrial Average (1.25) 2.92 15.20 18.87 18.23 8.64 2 Yr U.S. Treasury 0.36 0.36 0.24 0.26 0.23 0.31 S &P 500 (1.34) 2.91 13.82 20.60 18.45 7.01 10 Yr U.S. Treasury 2.49 2.49 1.85 1.76 1.63 1.65 Nasdaq 100 (2.33) 3.61 10.09 12.87 20.03 10.66 10 -2 yr slope 2.13 2.13 1.61 1.51 1.40 1.34 Russell 1000 (1.36) 2.65 13.91 21.24 18.63 7.12 Barclays Municipal Bond 2.91 2.91 2.20 2.17 2.17 2.45 Russell 1000 Growth (1.88) 2.06 11.80 17.07 18.68 7.47 BofAML High Yield Master 6.56 6.56 5.63 6.11 6.52 7.29 Russell 1000 Value (0.88) 3.20 15.90 25.32 18.51 6.67 BofAML Corporate Master 3.40 3.40 2.78 2.75 2.84 3.35 Russell MidCap (1.21) 2.21 15.45 25.41 19.53 8.28 Russell Mid Cap Growth (1.22) 2.87 14.70 22.88 19.53 7.61 Currencies Russell Mid Cap Value (1.19) 1.65 16.10 27.65 19.53 8.87 Euro ($/€) 1.30 1.30 1.28 1.32 1.29 1.27 Russell 2000 (0.51) 3.08 15.86 24.21 18.67 8.77 Yen (¥ /$) 99.34 99.34 94.02 86.47 77.80 79.79 Russell 2000 Growth (0.62) 3.74 17.44 23.67 19.97 8.89 GBP ($/£) 1.52 1.52 1.52 1.63 1.61 1.57 Russell 2000 Value (0.41) 2.47 14.39 24.76 17.33 8.59 FTSE NAREIT Equity Index (2.19) (2.13) 5.79 10.21 18.46 7.72 Commodities DJ -UBS Commodity Index (4.71) (9.45) (10.47) (8.01) (0.26) (11.61) Light Crude Oil ($ /barrel) 96.56 96.56 97.23 91.82 92.19 84.96 Barclays Aggregate (1.55) (2.32) (2.44) (0.69) 3.51 5.19 Gold ($ /ort) 1,223.70 1,223.70 1,595.70 1,675.80 1,773.90 1,604.20 Barclays Intermediate Govt & Credit (1.20) (1.70) (1.45) 0.28 3.14 4.57 BofAML U.S. Treasury Master (1.26) (2.23) (2.47) (2.00) 3.04 4.45 CIBOE Volatility Index BofAML U.S. Treasuries Inflation- Linked (3.78) (7.38) (7.94) (5.15) 4.69 4.43 CBOE VIX 16.86 16.86 12.70 18.02 15.73 17.08 Barclays U.S. Treasury Bellwethers (2 Yr) (0.04) (0.09) 0.00 0.27 0.77 2.15 Barclays U.S. Treasury Bellwethers (10 (2.66) (4.57) (4.87) (4.20) 4.64 5.89 Hedge Fund Performance 1 • 1 YTD Barclays Municipal Bond (2.83) (2.97) (2.69) 0.24 4.46 5.33 HFRXGlobal Hedge Fund Index (1.33) 0.03 3.16 5.50 1.19 (2.08) BofAML U.S. Corporate Master (2.76) (3.36) (3.31) 1.75 5.80 7.17 HFRX Equity Hedge Index (1.89) (0.52) 4.59 8.34 0.02 (3.77) BofAML High Yield Master (2.64) (1.35) 1.50 9.57 10.43 10.63 HFRI Fund of Funds (1.44) (0.03) 3.28 7.18 2.97 (0.63) Citigroup WGBI (USD) (0.58) (2.97) (5.66) (4.50) 2.72 3.04 HFRX Macro (0.66) (1.11) (1.07) (0.26) (2.14) (5.02) Citigroup WGBI (USD) Hedged (1.00) (1.45) (0.62) 1.66 3.04 4.51 HFRX Distressed Securities Index (1.30) 1.12 2.53 0.44 0.90 (6.93) JP Morgan EMBI Global (5.03) (6.06) (8.22) 1.24 7.85 8.63 HFRXAbso� (0.02) 1.00 1.71 2.48 0.22 (3.50) U.S. Style % Total Returns QTD (Russell Indexes) YTD 19.8 S&P 00 Sector 19.5 20.3 % Total Returns ■QTD mYTD Value Core Growth Value Core Growth 15.2 13.8 mom Large Mid mom mom -.- 6.8 0.5 9.8 7.3 3.8 2.8 6.4 1.7 10.6 9.9 1.0 �: Small mom ®®® 0 4 -1.8 -2.7 Cons Disc Cons Staples Energy Financials Health Care Industrials Info Tech Materials Telecom Utilities Data Source: FactSet It is not possible to invest directly in an index. 'A/ Past performance is not a guarantee of future results. Please see Disclosure slides for important information. SuNTRuST 1 Strategy Summary July 2013 Our risk posture is neutral given sluggish global growth and US monetary policy Portfolio Risk ♦ uncertainty. However, better US relative economic growth, generally accommodative (Standard Deviation) central banks, and attractive equity market valuations vs. bonds are positives. Yields remain at low unattractive levels. In the midst of sluggish global growth, the Government Bonds absence of inflation and the possibility of the Federal Reserve tapering asset (Treas uryand MBS) purchases, w e expect interest rates w ill remain w ithin a range, w ith an upw and bias. Favorable corporate fundamentals and low default rates justify allocations to Corporate Bonds investment -grade corporates and high yield bonds (including leveraged loans). While (Invest. Grade and HY) future price gains may be limited, spreads remain above their pre- crisis levels. While emerging market bond fundamentals currently remain intact (i.e., sovereign macro /credit conditions and yields at attractive levels), the implications of the end of Foreign Bonds loose monetary policy by the Fed has created a less hospitable /more volatile environment over the near term, w hich supports a continued underw eight. Economic growth in the US is expected to exceed most of the developed world. Large Cap Moreover, US large caps possess positive attributes such as reasonable valuations, US Equity strong balance sheets and attractive dividend yields and diverse revenue streams. Given their leverage to the US economy, we maintain a position in smaller cap equities Mid and Small Cap US Equity based on earnings growth potential, improved lending conditions and the potential for elevated corporate cash balances to support increased M&A activity. Economic data show a modest improvement although euro zone surveys still indicate Developed International ♦ contraction. However, continued liquidity from central banks and the easing up on euro Equity zone austerity measures are supportive of stabilizing growth and our neutral stance. Emerging markets face headwinds such as sluggish global growth, lower commodity Emerging International ♦ prices, and a stronger US dollar. However, relative valuations have improved, and the Equity recent underperformance may be overdone as growth expectations have reset. We continue to believe diversifying strategies, including hedge funds, may help to Non -Traditional �+ reduce risks and could expand the opportunity set. However, market dynamics are Strategies more challenging for commodities until global growth prospects solidify. Notes: Neutral = within 10% of Long -Term Target ; Over / Underw eight =over 11% deviation from Long -Term Target 001 Past performance is not a guarantee of future results. Please see Disclosure slides for important information. SuNTRuST Investment Overview ■ Interest rates climbed as markets chaffed at the suggestion that the Fed may begin tapering its bond buying program — The benchmark 10 -year US Treasury yield briefly surged above 2.60% for the first time since August 2011 before settling at 2.48% by month end, pushing returns for mostfixed income sectors further into negative territory for the first half of the year — While not growing as fast as potential, the Fed believes that the US economy is on the mend. Accordingly, the extraordinary measures taken to boost growth will not be maintained indefinitely — At his second quarter press conference, Chairman Bernanke reiterated that the Fed will moderate bond purchases at some point based on improving economic data, but Fed officials spent rest of the month reassuring markets that policy will remain accommodative for some time even with a tapering of its quantitative easing program — Most investors, on the other hand, voted with their feet as bond mutual funds experienced heavy outflows for the month ■ US stocks stumbled in June, snapping a seven month rally, while global stocks continued to see red — Although major US equity indices dipped for the month, most posted solid returns for the second quarter, led by small caps — An unusual trio of telecom, utilities and consumer discretionary were the top US sectors for the month; despite a tepid quarter, six of the ten sectors still have double -digit gains on a year -to -date basis — Major international equity indices fell for the second straight month, though currency fluctuations were less of a factor; emerging markets were pummeled in June and were the only major global equity marketthat fell in the first half of 2013 — Real estate indices declined in sympathy with equities for the month, while precious metals dragged heavily on commodity returns, which were down nearly 10% for the quarter SuNT'RUST 3 June 2013 Market Returns ■ US stocks stumbled in June, snapping a seven month rally; however, returns were still solid for the second quarter and are up double- digits this year. Major international markets fell for the second straight month, but developed international stocks remain in positive territory this year. On the other hand, emerging markets were hit hard in June and are the only major equity market down thus far in 2013. International Equities QTD YTD 12 Months Global Markets (in US $) Developed Countries (MSCI EAFE) (net) -1.0% 4.1% MSCI AC World Equity Index (net) -0.4% 6.1% 16.6% Citi World BIG USD un- hedged -2.4% -4.4% -1.7% US Equities month end. That pushed most fixed income Large -Cap US Stocks (S &P 500) 2.9% 13.8% 20.6% Small -Cap US Stocks (Russell 2000) 3.1% 15.9% 24.2% ■ US stocks stumbled in June, snapping a seven month rally; however, returns were still solid for the second quarter and are up double- digits this year. Major international markets fell for the second straight month, but developed international stocks remain in positive territory this year. On the other hand, emerging markets were hit hard in June and are the only major equity market down thus far in 2013. International Equities ■ The benchmark 10 -year US Treasury yield Developed Countries (MSCI EAFE) (net) -1.0% 4.1% 18.6% briefly surged above 2.60% for the first time Emerging Markets (MSCI EM) (net) -8.1% -9.6% 2.9% since August 2011 before settling at 2.48% by US Fixed Income month end. That pushed most fixed income US Treasury Bonds (Benchmark 10 Yr.) -4.6% -4.9% -4.2% sectors further into negative territory for the Barclays Aggregate Bond Index -2.3% -2.4% -0.7% BofAML High Yield Master -1.4% 1.5% 9.6% first half of the year as bond mutual funds Barclays Municipal Bond Index -3.0% -2.7% 0.2% experienced heavy outflows for the month. International Bonds Citi World BIG non -USD un- hedged -2.5% -5.9% -2.5% ■ Real estate indices fell in sympathy with equity JPM Emerging Mkts Bond Index -6.1% -8.2% 1.2% indices for the month but are up for 2013. Non- Traditional Sagging prices for precious metals more than REITs (DJ US Select RESI Index) -1.3% 5.7% 7.7% offset flat energy prices, dragging commodity Commodities (Dow Jones UBS) -9.5% -10.5% -8.0% returns lower in June. The DJ -UBS Commodity A #returns In USdO//ars Data Source:Factset Index shed nearly 10% for the quarter. i Past performance is not a guarantee of future results. Please see Disclosure slides for important information. SuNTRuST 4 Market Ov a ry iew Strong first half for developed global stocks, while emerging market stocks and commodities were clobbered US stocks stumbled in June, snapping a seven month rally; however, returns were still solid for the second quarter and are up double- digits for the year. Major international markets fell forthe second straight month, but developed international stocks remain in positive territorythis year. On the other hand, emerging markets were hit hard in June and are the only major ' equity market down thus far in 2013. Commodities, which have struggled all year, were down 10.5% for the first half. Data source: Morningstar Direct. Returns are represented by the following indices: Barclays Municipal Bond Index, Citi World BIG Index, Barclays Aggregate Bond Index, MSCI EAFE, Barclays US Corporate High Yield Index S &P500 Stock Index, DJ UBS Commodity Total Return Index, MSCI Emerging Markets Index, Russe112000 Stock Index. ''A/ Past performance is not a guarantee of future results. Please see Disclosure slides for important information. SuNTRUsT 5 Major Market Returns Through June 2013 ■QTD YTD 0 ° 15.9% 13.8% 14% 10% 6% 2.9% 3.1% 4.1 % 2% ■ ■ 1.4% ■ - -2.4% -2.7%-2.4% o _6% -3.0% -4.4% -10% -8.1% o -9.6 /o -9.5% -10.5% -14% C3 ca Y U m m m m 0 06 �5- 0 = Q m 2: o U o w Data source: Morningstar Direct. Returns are represented by the following indices: Barclays Municipal Bond Index, Citi World BIG Index, Barclays Aggregate Bond Index, MSCI EAFE, Barclays US Corporate High Yield Index S &P500 Stock Index, DJ UBS Commodity Total Return Index, MSCI Emerging Markets Index, Russe112000 Stock Index. ''A/ Past performance is not a guarantee of future results. Please see Disclosure slides for important information. SuNTRUsT 5 Economic Overview US economic data has been generally positive US retail sales, which include food and auto sales, continue to march higher. Total year -to -date sales through May were up 3.7% compared to the same period a year ago, having increased for seven of the past eight months through May, with Februaryas the only downtick. Nonstore retailers, such as online and mail- order, rose 11.3% year - over -year in May, while building material and garden equipment /supplies sales were up 10.1% from last year. US auto sales in June rose to 15.9 million on a seasonally- adjusted annual rate, the strongest pace since November 2007. US Retail Sales, including Food & Autos Through May 2013 $425 a _ $400 a $375 0 $350 D $325 $300 May -07 May -09 May -11 May -13 Data source: Bloomberg Past performance is not a guarantee of future results. Please see Disclosure slides for important information. SuNTRuST 6 Economic Overview Steady job growth but the unemployment rate basically unchanged June nonfarm payrolls increased by 195,000 jobs, taking the six -month average to 202,000. Meanwhile, the unemployment rate was essentially unchanged at 7.6% through June. The job situation presents a challenge for the Federal Reserve: steadyenough to merit ratcheting back stimulus, but not strong enough to completely remove it. Monthly Change in US Non -farm Payrolls Through May 2013 600 500 400 300 0 r 200 100 -100 -200 May -10 May -11 May -12 May -13 Data source: Bureau of Labor Statistics A/ Past performance is not a guarantee of future results. Please see Disclosure slides for important information. SuNTRuST Equity Market Overview US stocks stumbled in June, snapping a seven month rally, while global stocks continued to see red Although primary US equity indices dipped for the month of June, they posted solid returns for the second quarter and double -digit gains for the first half. Major international equity indices fell for the second straight month. Emerging marketswere pummeled in June and were the only major global equity sector negative for the year. An unusual trio of telecom, utilities and consumer discretionary stocks led in June and posted gains. Despite a tepid quarter, six of the ten sectors still have double -digit gains for 2013. US & International Equity Market Returns Through June 2013 US (S &P 500) . 2.9% 13.8% Developed Int'I USD (EAFE) -1.0% ' 4.1% Developed Int'I Local (EAFE) ' 1.2% 11.0% - Emrg Int'I USD (MSCI EM) -9.6% Emrg Int'I Local (MSCI EM) -4.4% _ -4.9% ■ QTD YTD Returns are represented by the following indices: S &P 500 Stock Index, MSCI Emerging Market Index in US dollars and local currencies, MSCI EAFE developed country index in US dollars and local currencies. Data source: Morningstar Past performance is not a guarantee of future results. Please see Disclosure slides for important information. SuNTRUST 8 Equity Market Overview, continued Emerging Markets troubles continue, but believe opportunities remain With the prospects of higher US interest rates, capital inflows to take advantage of re lative ly highe r yie Ids in emerging markets (EM) have reversed. Consequently, EM currencies have sold off significantly, which has weighed on equities. At the same time, a stronger US dollar has pressured commodities, many of which are produced in EM countries, hurting their economies. While we do not advise overweighting EM, we still see value in maintaining an allocation. Notably, more than 50% of world economic growth is expected to come from EM and collectivelythe EM consumer is now larger than that of the US. Major Market Performance Year -to -Date Indexed from 100, through June, 2013 S &P 500 Dev9 Intl Emerging Mkts 125 120 115 110 105 100 95 90 85 Jan -13 Feb -13 Mar -13 Apr -13 May -13 Jun -13 Data source: FactSet Past performance is not a guarantee of future results. Please see Disclosure slides for important information. SuNTRuST 9 Commodity Market Overview Precious metals dragged down commodity returns Weaker than expected Chinese economic trends and a strongerUS dollar have weighed on global commodity prices. This was reflected in a sharp decline in June and a negative 10.5 %second quarterretum forthe DJ -UBS Commodity Index. All four of the major commodity index groups fell in the quarter. Both precious and industrial metals sold off more than 10% While most of the spotlight was on the plunge in gold prices, silver fell even further, declining roughly 44 %during the past three months. Commodity Index and Sector Returns Through June 2013 ■ QTD YTD 0% -5% 1-2.0% -4.5% -10% -8.5% -7.5% - 10.4% -9.5% -20% -17.4% -25% - 25.5% -30% - 29.6% -35% Industrial Precious Metals Energy Agriculture DJ -UBS Metals Commodity Index Returns are represented by the follow indices: DJ -UBS Commodity Index and the follow ing Sector Sub - Indexes of the DJ UBS Commodity Index: Industrial Metals, Precious Metals, Energy and Agriculture. Data source: Morningstar. Past performance is not a guarantee of future results. Please see Disclosure slides for important information. SuNTRuST 10 Alternatives Investment Overview Hedge funds post first monthly decline for 2013 in June The spike in volatility in the latter part of the second quarter had a generally negative impact on alternative strategies, although, as expected, broad measures of June hedge fund returns exceeded long -only traditional strategies. The first two months of the quarter seemed relatively calm as strategies generally compounded returns from the first quarter. However, June saw an increase in overall market volatility, which punished funds that were more exposed to market risks. Comparative HFRI Hedge Fund Returns Yearto Date Through June 2013 ■YTD June Fund Weighted Composite 3.6% Equity Hedge 5.3% -1.4% Macro: Systematic Diversified -0.5% -1.8°° Relative Value 3.3% -0.9% Fund of Funds Diversified 3.5% -1.2% Barclays Aggregate Bond -2.4% -1.6% S &P 500 13.8% -1.3% Data Source: Hedge Fund Research, Factset Hedge fund aivestaig aivolves substmtial risks and may not be suitable for all clients. Hedge fmd are ki tended for sophisticated investors who can bear the economic risks involved. Hedge fmd may engage ki leveragaig and speculative aivestmentpractices that may increase the risk of aivestment loss, can be illiquid, and are not required to provide periodic pricing or valuation information to investors. Hedge fund may aivolve complex taxstructures, have delajs ki distributing tax information, arenot subject to the same regulatoryrequirements as mutual funds andoften charge higher fees. Past performance is not a guarantee of future results. Please see Disclosure slides for important information. SUNT)RUST 11 Taxable Bond Market Overview Returns are represented by the following indices: Barclays Municipal Bond Index, Cti World BIG Index, Barclays Aggregate Bond Index, Barclays US Corporate High Yield Index, Barclays Bellwether 10 and 30year US Treasury Index, Barclays Financial Institutions Bond Index, Barclays MBS FDced Rate Bond Index and Barclays US Investment Grad=_ Corporate Index. Investment Company Institute Fixed Income Market Sector Returns Weekly Mutual Fund Flows ThroughJune2013 Through June2013 $10 6% $5 ■QTD YTD _ 0 $0 4% m .s, -$10 2% 1.4% -$20 o °r° 0% -14 � -$30 Equity Fund Flows -$35 3 z.4_�G° .°r .r Sep -12 Dec -12 Mar -13 Jun -13 -6% -3.4% -3.40/,i -4.40% 41 .69/o - 4.9 / -8% -6.1 -10% -s.0% -12% � N N N 0 0 } } >_ O O U 00 00 m O O L Q m - 0) T 2 U °� O Q H H co U) Returns are represented by the following indices: Barclays Municipal Bond Index, Cti World BIG Index, Barclays Aggregate Bond Index, Barclays US Corporate High Yield Index, Barclays Bellwether 10 and 30year US Treasury Index, Barclays Financial Institutions Bond Index, Barclays MBS FDced Rate Bond Index and Barclays US Investment Grad=_ Corporate Index. ■ The benchmark 10 -year US Treasury yield briefly surged above 2.60% for the first time since August 2011 before settling at 2.48% by month end. Higher rates across all markets pushed returns for most fixed income sectors further into negative territory for the first half of the year. US Treasuries were hit the hardest, especially those with longer maturities, such as the 30 -year. High yield, which hung onto a slim gain year to date, was the lone exception. ■ After several years of strong inflows, bond mutual funds saw a surge of outflows in May and June. These outflows contributed to the sharp price swings, which were compounded by reluctant institutional buyers such as insurance companies and pension funds. ■ Entering 2013, we cautioned that investors should lower their bond return expectations. Nothing that has occurred to date has changed that view. While we expect rates to rise further this year, we believe tame inflation and portfolio income requirements will buffer the increase, as the recent rise in bond yields does provide attractive spreads relative to holding cash. We recommend investors focus on shorter - terM less rate - sensitive bonds as well as corporate bonds. Data source: FactSet Past performance is not a guarantee of future results. Please see Disclosure slides for important information. 12 SuNT'RUST Investment Company Institute Weekly Mutual Fund Flows ThroughJune2013 $15 $10 $5 _ 0 $0 -$5 m .s, -$10 -$15 -$20 Bond Fund Flows -$25 -$30 Equity Fund Flows -$35 Jun -12 Sep -12 Dec -12 Mar -13 Jun -13 ■ The benchmark 10 -year US Treasury yield briefly surged above 2.60% for the first time since August 2011 before settling at 2.48% by month end. Higher rates across all markets pushed returns for most fixed income sectors further into negative territory for the first half of the year. US Treasuries were hit the hardest, especially those with longer maturities, such as the 30 -year. High yield, which hung onto a slim gain year to date, was the lone exception. ■ After several years of strong inflows, bond mutual funds saw a surge of outflows in May and June. These outflows contributed to the sharp price swings, which were compounded by reluctant institutional buyers such as insurance companies and pension funds. ■ Entering 2013, we cautioned that investors should lower their bond return expectations. Nothing that has occurred to date has changed that view. While we expect rates to rise further this year, we believe tame inflation and portfolio income requirements will buffer the increase, as the recent rise in bond yields does provide attractive spreads relative to holding cash. We recommend investors focus on shorter - terM less rate - sensitive bonds as well as corporate bonds. Data source: FactSet Past performance is not a guarantee of future results. Please see Disclosure slides for important information. 12 SuNT'RUST Tax - Exempt Bond Market Overview AA General Obligations Municipal Bonds Corn parative Yields as of June 30, 2013 8% Tax Exempt Yield 6.s °% o 7% ■Taxable Equivalent Yield @ 43.4% Tax Rate 6% 5% 5.0% 4% 3.9% 2.8% 2.8% 3% 2% 1.6% 1 % 0.6% 0% 2Years 5Years 10Years 20Years Maturity Municipal Bond Yield Curves AAA General Obligation Bonds 6.0% 5.0% 4.0% 3.0% i 2.0% 6/28/2013 1.0% 12/31 /2012 0.0% 1.5% ------------------------------- - - - - -- 1.0% -------- I -1 -0.5% - - -- - ------- `---- 0.0% 1 2 3 5 7 10 15 20 25 30 Maturity(years) ■ For the second consecutive month, municipal bonds were punished by rising interest rates. The Barclays Municipal Bond Index fell 2.83% for the month, which wiped out a small year -to -date gain. Also, municipal bond mutual funds saw heavy outflows during May and June according to Lipper US Fund Flow data, which likely exacerbated the downdraft. ■ We anticipate that the recent volatility within fixed income markets will likely continue until interest rates stabilize. Yet, despite the bond market selloff, there are inherent benefits to municipal bonds. Particularly in an environment where some states —such as California, Maryland and Minnesota — and the federal government are increasing income taxes, the tax - exempt characteristics of municipal bonds become more valuable. Thus, current tax policy, valuations, and improving fundamentals should provide some near -term support. Moreover, growth in outstanding state debt has been decelerating significantly the past few years. On a taxable equivalent basis municipal bonds yields appear attractive relative to US Treasuries. A portion of income may be subject to state taxes and federal alternative minimum tax (AMT) for indi\,idualsand corporations. Capital gainsearned on Datasource: Factset, Bloomberg tax exempt investmentsare taxable. C' Past performance is not a guarantee of future results. Please see Disclosure slides for important information. SuNTRusT 13 ,1o�iG SuNTRuST ll. Sun Trust Portfolio Composition and Performance ❑oliry Benchmark* T-Adl Equity 7541 .SR P - VM/2.5% M.- fCi FAFF Inr1Px Fixed Income Barclays Aggregate Pond 5 hort Term S5 oay Treasury 610 14,00% 17 UO% M00% & 0078 fi OO90 4.{NJ9v' 2 0096 0. 00% 5% t 2. r936 Quarter Calendar Fiscal 1 Year 3 years Year -to- -Date Year- to-DQte ■ North Palm Beach ■ 11nlicyl3enchmark * Policy Benchmark - 45% S &P 500115% MSCI SAFE/ 40% Barclays Aggregate ** Net of Fee Approximation based on an annual Investment Advisory Fee of 0.29% Please refer to appendix for full disclosure. Years 10 Years inception taDate (218MOnths) Period ending June 30, 2013. Returns for time periods 12 months and greater are annualized Source: First Rate investment performance system 14 SUNT RUST Calendar Fiscal Inception Mgrket Year -to -Date Year -ta -Date to -Date Value 3 NTunlhs (ff PAUnllrsj (9 MUJFPlii5] 1 Year 3 Years 5 Years IU Years (2IS MUFOIlis; 0.23 5.26 6.O.? 11.79 11.21 5.14 6.24 6.94 $ 6,459,649 1.79 11.33 12.78 34.35 15.61 5-53 T.19 5.52 1.94 T1.. ?4 MI.ns- M. 77 7E. -:?-IT r.7,fl 7..31 744 $ 3,5531673 2.61 1 4.51 5.97 -2.32 -2.44 -2.24 -0.59 3.51 5:19 4.52 6.12 $ 214,06T 4.00 0.90 0.11 0.02 0.44 2.1-6 0.93 0.01 0. 04 0.06 0.09 0.09 0.19 1.55 2.81 t 2. r936 Quarter Calendar Fiscal 1 Year 3 years Year -to- -Date Year- to-DQte ■ North Palm Beach ■ 11nlicyl3enchmark * Policy Benchmark - 45% S &P 500115% MSCI SAFE/ 40% Barclays Aggregate ** Net of Fee Approximation based on an annual Investment Advisory Fee of 0.29% Please refer to appendix for full disclosure. Years 10 Years inception taDate (218MOnths) Period ending June 30, 2013. Returns for time periods 12 months and greater are annualized Source: First Rate investment performance system 14 SUNT RUST Quarter Portfolio Additions/Withdrawals Additions Withdra-.•,a M" Add Wort s/Wit h d rawa I s Portfolio Earnings Net Accrued Income Interest and Dividends Gains/Losses Total P,rtfoIli, Kngs Fisca# Year -to -Date Portfolio AdditionsjWithdra4uals $ 162,441.16 Additions $ (45,401.77) WIthdra-rlaIs y# Total Add itionsjWithdrawaIs - 556,260.43 $ (119,405.07) $ 721.03 $ 201,175.91 $ 409.047.08 610,344.02 Period ending June 30, 2013 Please refer to appendix for full disclosure. Source: First Rate investment performance system. Data includes accrued income 15 SUNTRUST Portfolio Earnings (13,815.25) NetArcrued Income 46,438.53 Interest and Dividends S (21,3 = 8.70 GainsfLosses $ r1,8Q4.59 TZ Poftf G lF�rmngs 556,260.43 $ (119,405.07) $ 721.03 $ 201,175.91 $ 409.047.08 610,344.02 Period ending June 30, 2013 Please refer to appendix for full disclosure. Source: First Rate investment performance system. Data includes accrued income 15 SUNTRUST Calendar Fiscal inception Market Vala 3 Muj"ths fear -to -Date Year -to -Date (6 months] (9 months] i YeQF 3 Years 5 Yeal3 10 Years (218 ho -Date Wonths] Poircy denchmark* 6.94 O.L2 0.23 5.30 5,116 b,03 II.19 71.21 S,I4 6.24 it r Total Equity $ G,059,609 L79 11.33 12.78 19.35 15.61 5.53 719 X62 75% S&P 500125% %SCI E4 FE Index 1.94 11.39 10.05 20.11 16.35 5,10 7.39 7.49 Large Lap (3 rowth funds $ 1,198,ubo 1.8b 1133 10.01 1b.48 11.10 1.01 1.41 Russeff 1000 Growth Odex 2.06 11.80 10.33 1707 18.68 7.47 7.40 7.53 Large Cap Value funds $ 1,993,122 2.94 15.33 17.19 25.05 18.47 9.22 -- Ftusseff low VU1ue Index 3,20 15.30 1767 25.32 18.51 6.67 7.79 9.31 Mid Cap Growth Fnndn $ 4+19,234 1_S7 14.93 17.74 133.54 -- -- -- -- Russell Widr-ap Growth in dex 2.07 14.70 15.54 22.88 19.53 7.61 9.94 Mid Cap Value Funds $ 456,249 5.56 19.17 21.12 25.21 -- -- -- Russell Mfdcapvaluefndex 1,65 15.10 20.65 27.65 19.53 8,87 10,92 Small Cap Growth Funds $ 253,454 1.58 15.26 19.18 25.33 21.32 7.91 Russeff 2000 Growth 3.74 17.44 17.96 23.67 19.97 8.89 9.52 Small Cap Value Funds $ 253,378 2.08 13.57 19.69 25.85 -- KOSS2ff 2000 Val in dx 2.47 14.39 1 .6, 07 24.77 17.-33 8.59 9.30 10.47 Intl Fr3nity- DPvPlnpPrl $ riw,357 -O.li9 3.r,R 4.615 17.12 8.331 -2.7.4 MSC7 EA F6 In dex (Met) 0.95 4,10 1-7,94 18.62 10.04 0.63 7.67 4.56 Intl Equity- Emerging $ 256,754 -3.95 -3.78 4.64 7.87 A4SCf EM (Wet) -8,08 -9.57 -4.53 2.87 3.38 -0.43 13.66 -- BareiaysAggregate Bond -2.32 -2.44 -2.24 -0.69 3.51 5.19 4.52 6.12 Bund Fuirdb $ 3,223,084 -2.76 -2.49 -2.53 -0.94 3.51 5.39 4.45 -- uarcfaysAggregate Bon d -2132 -2.44 -2'24 -O.b9 3.51 5,19 4.52 b.12 High Yield Bond Funds $ 33-0,b1S -1.04 1.18 4.45 -- -- -- -- -- CfarcJays tligh Yield C7orrd -1114 1.42 4.75 9.50 10.74 10.94 4.91 7 79 ShortTerm9 214,057 FOLD 0.04 4.41 0.01 0.02 0.45 2.161 97I7nyTrarxsriryRa3 0.01 0.04 n. n6 0.09 0.09 0.19 7.59 2.R7 * Policy Benchmark - 45% S &P 500115% MSCI EAFEI40% Barclays Aggregate Period ending June 30, 2013. ** Net of Fee Approximation based on an annual Investment Advisory Fee of 0.29% Returns for time periods 12 months and greater are annualized Please for full disclosure. Source: First Rate investment performance system 1711 refer to appendix SUNTRUST 16 Internaticnal Equity - Emerging FIBLX US OF Bank Loan * * ** -0.OL (441 261 2.3L 1613) 6.12 (67) 7.22 6.29 (69) 5.12 3.92 OR) 434 3.98 (491 1.58 C.06 1.86 1178 0.77 1.46 12.50 107 PIMCO Investment Grace Corp Bd Instl PIGIX Interm -Term Bond * * * ** 4.29 (941 -3.14 Oppenheimer Developing Market= Y ODVYX Emerging WE ssssvr -395 (111 -3.78 119) 7.87 123) 8.13 171 5A8 (4) 18.05 (L) 5.50 C.92 26.04 1.03 M5Ct FM NR L50 i * ** -2.43 4.57 287 - -0.85 - 3.38 - 5.11 -0.43 0.10 13.66 Barcroye W Agg Borrd TR U50 ■ C.00 1.40 m International Core Equity- Developed 5.19 4.52 Domestic Short Term Bonds MFS Res=_arh International I MRSIX Foreign Large Blend * * ** -0.55 (341 3A3 131) 16.98 (43) 11.19 (16) 0.05 13L) 8.68 (191 0.74 1.0D 23.20 0.97 Manning & Napier World Opportunities A EXWAX Foreign Large Blend * * ** -1.23 (581 3.74 126) 17.41 (37) 8.43 (74) 0.15 124) 9.67 (7) 1.60 1.00 23.84 1.09 WO U..FE NR 11+� -0. SUNTRUST 17 Small Cap Graurth Invesco Small Cap Gnm&rth R5 GTSVX Small Growth tfff 1.88 (79) 15.26 (59) 25.36 (24) 2059 [28] 9.88 (a2) 9.96 1[371 1.64 C.89 21.86 0.83 Russs1120M Growth rP USD R 0.00 1. Small Cap Value Cambiar Small Cap InAl CAMR Small Blend k** 2.68 (48) 13.87 [76] 25.85 (32] 19.49 (22) _1.27 (9) 117 0.94 24.34 1.07 Russe11200D Value TR USC b 1733 959 11111111jW0000- C.06 1.06 2W Mid Cap Growth Goldmar Sachs Grovrtti bppertunities Instl GG61X hlid�ap Growth * * ** 1.52 (52) 10.53 1781 18.57 (62) 16.99 (58) 8.54 119) 10.14 (311 1.05 C.97 22.06 0.99 Russell Mid Cop Growth rP WD 22.88 1953 a 1.00 22.38 Mid Cap Value Scares Dvw Jones Select Dividend Index DIN ETF W -Cap Value * * ** 1.75 - 13.75 - 18.15 - 18.93 - 9.59 - 3.89 C.81 17.68 0.40 JPMargan Mid Cap Value lnstl FLMVY Mid -Cap Value I i iririr 2.35 (53) 15.26 (601 25.68 (51) 2D.68 171 '0.44 1211 10.72 (221 2.L2 C.84 19.23 0.76 Russ-11 Mid Cop Value TR W Large Cap Growth 55are -- Russell 1DK Growth Index IWF ETF Large Growth * * ** 2.02 - 11.70 - 16.81 - 18A4 - 7.29 - 7.21 - -0.16 1.00 18.55 0.20 Russ-?? YOGI Growth TP USU 1 17.07 C.00 I.0D 1� Large Cap Value i5rare= Russell 1000 Vak a Index IWD ETF Large Value * ** 3.14 - 15.75 - 25.02 - 18.26 - 6.53 - 7.63 - -0.12 1.00 19.59 0.20 Russ-fl 1007 Value TR USD r 1851 0.00 1.00 19.64 _ High Yield Bonds !Share=- iBoxm $ High Yield Ccrporate 3d HYG ETF High Yield Bond +* 4.87 - D.31 - 7.61 - 9.75 - 8.24 - -2.24 C.98 13.94 0.50 Bercroys US Cog 0a ote Nigh 'Yield TR USU 49 '0.54 8.91 UG 1.06 13.91 Bank Loans Eaton Vance Floating Rate I MvreiaysbrRvrkIoonOW Domestic Intermediate Bond FIBLX US OF Bank Loan * * ** -0.OL (441 261 2.3L 1613) 6.12 (67) 7.22 6.29 (69) 5.12 3.92 OR) 434 3.98 (491 1.58 C.06 1.86 1178 0.77 1.46 12.50 107 PIMCO Investment Grace Corp Bd Instl PIGIX Interm -Term Bond * * * ** 4.29 (941 -3.14 1 96) 3.58 (9) 7.90 Ill 9.97 (1) 7.06 (L) 2.35 1.y 7 7.21 0.50 !Share=- iBoxx $ Invest Grade Carp Bonc LU ETF Long -Term Bond ** -1.39 - 4.93 - 6.5o - 6.07 - 7.30 - 4.93 - -2.86 2.05 9.' 8 0.15 Varg.aard Total Bond Market ETF BND ETF Irrterm -Term Bond * ** -2.43 - -2.46 - -0.85 - 3.35 - 5.11 - 0.10 1.01 3.77 0.10 Barcroye W Agg Borrd TR U50 ■ 5.19 4.52 Domestic Short Term Bonds Varguard Short-Term Bond ETF BSV FTFShort -Term Bond iririr -0.82 - -0.55 - (143 - 1.82 - 3.28 - 0.74 C.86 1.91 0.10 i9grcrays Govemmemtl -5 r 2.86 3.13 Please refer to appendix for full disclosure. Period Ending June 30, 2013. p SUNTRUST 17 Cash arrge Cap cguiurrlon"s 9ki.5 r 2.2% =rxelmto e 36.2:5 rnternational 5.755 Mid cup 1a39b ap J..Z A Total Equity $ 6,656,230 61.7% $ 5,796,x66 Large Gaffs iShares Russell 1(40 Growth Index ETF $ 1,798,D6C• 14.3% $ 1,553,083 2.5% iShares Russell 1000 Value Index ETF $ 1,552,932 15.2% $ 1,543,'_23 0.5% IM6 Cans Gcldman Sachs G -owth Opport.anities 1 $ 4- 49,235 UX $ 480,'66 -0.3% iShares TR Russell Ididcao Value Index Fund $ - oxpA $ 386,574 -3.9% JPMorgar Mid Cap Val.Ae $ 456,249 L.M $ - 4.6% iShares Dow Jones Select Dividend ETF $ 356,862 L.C,% $ 393,080 0.0°% Sri all Cans Invesco Small Cap Growth 1 $ 253,454 2.69f $ 290,683 -0.4% Cambiar Small Cap Value 1 $ 253,378 MDA $ 192,921 0.6% InkernaHona) 1AFS Research Internatinral 1 $ 285,157 299E $ 286,732 0.0°% Manning & Napier World Opportuinities 1 $ 284,200 2.5 °k $ 287,735 0.0°% Opperheinmer Developing Markets Y $ 286,750 2. SIX $ 38',369 -1.C% Total Fixed Income $ 3,552,328 36.2% $ 3,M aM Vanguard Total Bond Market ETF $ 2,481,641 25.3% $ 2,566,326 -0.9% Eaton Vance Flcatirg Rate Bond $ 167,399 1.7°k $ 169,051 0.0°% iShares iboxx $High Yield Bond ETF $ 215,601 2.89E $ 168,887 1.1% iShares IBOXX Invt Grade Carp Bd ETF $ 162,676 1.19# $ 294,758 -1.3% PIMC4 Inv Grade Corp Bord 1 $ 274,605 2.89E $ 289,688 -4.2% Vanguard Sho-t Term Bond ETF $ 190,406 1.99f $ 192,594 0.0% Total Cash Equivalents $ 214,055 2.2% $ 207,1$5 Fedrrated T•sy Obligation Money Market 1 $ 214,Oe5 2.29E $ 207,'85 0.1% Period ending June 30, 2013 Please refer to appendix for full disclosure. 18 SUNTRUST ,Jo�iG SuNTRusT lll. Fund Fact Sheets Exchange Traded Fund US Equity Large Cap Growth Firm Overview BlackRock Inc. ( "BlackRock ") was founded in 1988 and is headquartered in New York City, NY. The Firm provides investment management, risk management, advisory services, separate account products, mutual funds, iShares (exchange- traded funds), and other pooled investment vehicles for institutional and retail clients worldwide. On February 15, 2006, BlackRock and Merrill Lynch announced an agreement to merge Merrill Lynch's investment management business, Merrill Lynch Investment Managers, and BlackRock to create a new independent company that will operate under the BlackRock name. Additionally, in December 2009, BlackRock completed its merger with Barclays Global Investors ( "BGI "). BlackRock's ownership structure has no single majority stockholder and has a majority of independent directors. Merrill Lynch & Co., Inc., a wholly -owned subsidiary of Bank of America Corporation, The PNC Financial Services Group, Inc., and Barclays PLC own economic interests in BlackRock approximating 34.1%, 24.6% and 19.9 %, respectively, with the remainder owned by institutional and individual investors, as well as BlackRock employees. Asset Allocation 6/28/2013 Objective The iShares Russell 1000 Growth Index Fund seeks investment returns that correspond to the price and yield performance, before fees and expenses, of the Russell 1000 Growth Index (the "Index "), which measures the performance of the large- capitalization growth sector of the U.S. equity market. A subset of the Russell 1000 Index, the Index measures the performance of those companies with relatively higher P/B ratios and higher forecasted growth. The Fund uses a representative sampling strategy, seeking to track the Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield), and liquidity measures similar to those of the Index. The Fund generally invests at least 90% of its assets in securities of the Index and in depositary receipts representing securities of the Index. Region Analysis 6/28/2013 US /Car 99.9% Equity Eu 0 0.1% Other Asia /Ps tada ope icific 1.5% 10.1% 0% 20% 40% 60% 80% 100% Returns through 613012013 Key Facts Benchmark Russell 1000 Growth Minimum Investment Manager Team Manager Tenure 3.4 Yrs Shareclass Inception 5/2000 Shareclass Assets $19.3 Billion # of Holdings 576 Annual Turnover (2012) 19% Expense Ratio Gross 20 bps Expense Ratio Net 20 bps Website www.ishares.com Phone 800 - 474 -2737 Characteristics 6/28/2013 Market Cap 48,069.01 3 Year Earnings Growth 20.02 Dividend Yield 1.75% Price To Book 4.37 Price To Earnings 19.55 Price To Sales 1.90 Price To Cash Flow 12.34 Return on Equity 2 Jh12% All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 19 Exchange Traded Fund US Equity Large Cap Growth Returns through 613012013 Trailing Performance Calendar Performance Apple Inc 4.74% Microsoft Corporation 20 Google, Inc. Class A 2.92% 40 2.67% Coca -Cola Co 2.00% Verizon Communications Inc 1.83% Philip Morris International, Inc. 15 PepsiCo Inc 1.64% 20 1.52% Oracle Corporation 1.42% 10 'M9 ti 0 ■ 5 WWW -20 0 -40 1 Qtr YTD 1 Year 3 Year 5 Year 7 Year 10 Year 2012 2011 2010 2009 2008 2007 ETF NAV = ETF Mkt Val M R1000G ETF NAV ETF Mkt Val _ R1000G Performance _ Since Q2 2013 1 Year 3 Year 5 Year 7 Year 10 Year Inception ETF (NAV) 2.02 16.84 18.44 7.29 6.81 7.21 0.42 ETF (Mkt Val) 1.92 16.58 18.40 7.24 6.75 7.18 0.41 Benchmark 2.06 17.07 18.68 7.47 6.99 7.40 2013 YTD 2012 2011 2010 2009 2008 2007 ETF (NAV) 11.70 15.03 2.47 16.47 36.94 (38.48) 11.63 ETF (Mkt Val) 11.43 15.22 2.33 16.52 36.70 (38.22) 11.55 Benchmark 11.81 15.26 2.64 16.71 37.21 (38.44) 11.81 Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Equity Sectors 6/28/2013 Materials Information Technology Healthcare Telecommunications Consumer Discretionary Consumer Staples Industrials Financials Energy Utilities c Percentage of Equity 30% Equity - Top Portfolio Holdings 6/28/2013 Portfolio % Apple Inc 4.74% Microsoft Corporation 3.33% Google, Inc. Class A 2.92% International Business Machines Corp 2.67% Coca -Cola Co 2.00% Verizon Communications Inc 1.83% Philip Morris International, Inc. 1.74% PepsiCo Inc 1.64% Home Depot, Inc. 1.52% Oracle Corporation 1.42% All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 20 Exchange Traded Fund US Equity Large Cap Value Firm Overview BlackRock Inc. ( "BlackRock ") was founded in 1988 and is headquartered in New York City, NY. The Firm provides investment management, risk management, advisory services, separate account products, mutual funds, iShares (exchange- traded funds), and other pooled investment vehicles for institutional and retail clients worldwide. On February 15, 2006, BlackRock and Merrill Lynch announced an agreement to merge Merrill Lynch's investment management business, Merrill Lynch Investment Managers, and BlackRock to create a new independent company that will operate under the BlackRock name. Additionally, in December 2009, BlackRock completed its merger with Barclays Global Investors ( "BGI "). BlackRock's ownership structure has no single majority stockholder and has a majority of independent directors. Merrill Lynch & Co., Inc., a wholly -owned subsidiary of Bank of America Corporation, The PNC Financial Services Group, Inc., and Barclays PLC own economic interests in BlackRock Asset Allocation 6/28/2013 99.8% Equity 0.3% Cash approximating 34.1%, 24.6% and 19.9 %, respectively, with the remainder owned by institutional and individual investors, as well as BlackRock employees. Objective The iShares Russell 1000 Value Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Russell 1000 Value Index. The index measures the performance of large capitalization stocks in the U.S. equity market. A subset of the Russell 1000 Index, the index measures the performance of those companies with relatively lower P/B ratios and lower forecasted growth. A passive approach is used to achieve the investment objective. The Fund uses a replication strategy - investing in substantially all of the securities in the index in approximately the same proportions - to seek to track the index. Region Analysis 6/28/2013 U S /Canada Europe 11.4/ 0% 20% 40% 60% 80% 100 Returns through 613012013 Key Facts Benchmark Russell 1000 Value Minimum Investment Manager Team Manager Tenure 3.4 Yrs Shareclass Inception 5/2000 Shareclass Assets $17.9 Billion # of Holdings 697 Annual Turnover (2012) 21% Expense Ratio Gross 21 bps Expense Ratio Net 20 bps Website www.ishares.com Phone 800 - 474 -2737 Characteristics 6/28/2013 Market Cap 43,235.50 3 Year Earnings Growth 12.19 Dividend Yield 2.50% Price To Book 1.67 Price To Earnings 14.71 Price To Sales 1.20 Price To Cash Flow 8.37 Return on Equity 12.44% All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- �_ ^UN T S � ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. Ru 21 Exchange Traded Fund US Equity Large Cap Value Returns through 613012013 Trailing Performance Portfolio % Exxon Mobil Corporation Calendar Performance General Electric Co 2.89% Chevron Corp 30 Wells Fargo & Co 2.38% 20 2.36% Berkshire Hathaway Inc Class B 2.34% Procter & Gamble Co 25 AT &T Inc 2.29% Pfizer Inc , Johnson & Johnson 2.15% 20 0 15 10 AIL -20 5 0 -40 1 Qtr YTD 1 Year 3 Year 5 Year 7 Year 10 Year 2012 2011 2010 2009 2008 2007 ETF NAV = ETF Mkt Val M R1000V ETF NAV = ETF Mkt Val M R1000V Performance Since Q2 2013 1 Year 3 Year 5 Year 7 Year 10 Year Inception ETF (NAV) 3.14 25.02 18.26 6.53 4.43 7.63 5.38 ETF (Mkt Val) 3.23 25.00 18.30 6.54 4.56 7.65 5.38 Benchmark 3.20 25.32 18.51 6.67 4.57 7.79 2013 YTD 2012 2011 2010 2009 2008 2007 ETF (NAV) 15.75 17.28 0.21 15.30 19.64 (36.83) (0.29) ETF (Mkt Val) 15.62 17.46 0.12 15.49 19.18 (36.47) (0.61) Benchmark 15.90 17.51 0.39 15.51 19.69 (36.85) (0.17) Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Equity Sectors 6/28/2013 Materials M3.3 Information Technology Healthcare Telecommunications Consumer Discretionary Consumer Staples Industrials Financials Energy Utilities c Percentage of Equity 30% Equity - Top Portfolio Holdings 6/28/2013 All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 22 Portfolio % Exxon Mobil Corporation 4.97% General Electric Co 2.89% Chevron Corp 2.74% Wells Fargo & Co 2.38% JPMorgan Chase & Co 2.36% Berkshire Hathaway Inc Class B 2.34% Procter & Gamble Co 2.30% AT &T Inc 2.29% Pfizer Inc 2.20% Johnson & Johnson 2.15% All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 22 Mutual Fund US Equity Mid Cap Growth Firm Overview Goldman Sachs Asset Management LP ( "GSAM ") serves as the investment advisor for the Goldman Sachs Funds. GSAM is an affiliate of Goldman, Sachs & Co., a New York City -based global investment banking, securities and investment management firm. Founded in 1869, Goldman Sachs & Co. provides a wide range of services worldwide to corporations, financial institutions, governments, and high- net -worth individuals. Objective Goldman Sachs Growth Opportunity Fund seeks long -term growth of capital by investing in high - quality growth businesses. Process The Fund must invest at least 90% of assets in equity investments with a primary focus on mid -cap companies. The management team looks for long -term growth companies at favorable prices. Characteristics of growth companies include strong business franchises, favorable long -term prospects, and excellent management. Strong business franchises are defined by GSAM as those that have an established brand name, dominant market share, pricing power, recurring revenue stream, free cash flow, and high return on invested capital. Favorable long -term prospects include predictable and sustainable growth, a long product life cycle, an enduring competitive advantage, and favorable demographic trends. Management should be rational in their Asset Allocation 3/31/2013 capital allocation, have a consistent operating history, and have their incentives aligned with shareholders. Holdings become candidates for sale if the company's long -term fundamentals deteriorate or if the fundamentals were initially incorrectly assessed, the price of the stock substantially exceeds what the team determines to be the worth of the business, a holding grows beyond with which the team is comfortable from a risk management standpoint, a company pursues a strategy that the team does not believe will maximize shareholder value, or if the company's market cap and character no longer fits the team's definition of a mid -cap company. Personnel Steven Barry is a Managing Director of the firm as well as Chief Investment Officer of Fundamental and Growth Equity. Mr. Barry has primary responsibility for investment research in industrials and multi- industry companies. Prior to joining Goldman Sachs in 1999, he was a portfolio manager at Alliance Capital Management. Mr. Barry holds BA degrees in Mathematics and Economics from Boston College. Scott Kolar is Chairman of the Investment Committee and a Senior Portfolio Manager for the Fund. Prior to joining GSAM, he worked at Liberty Investment Management. Mr. Kolar earned a BA degree in Government from Harvard University. Region Analysis 3/31/2013 US /Car 98.8% Equity Eu 0 0.0% Cash 0 1.2% Other Asia /Ps tada -ope icific 2.2% 0.8% 0% 20% 40% 60% 80% 100% Returns through 613012013 Key Facts Benchmark Russell Midcap Growth Minimum Investment Manager Barry/ Rabinowitz Manager Tenure 7.9 Yrs Shareclass Inception 5/1999 Shareclass Assets $3.1 Billion # of Holdings 82 Annual Turnover (2012) 59% Expense Ratio Gross 114 bps Expense Ratio Net 99 bps Website www.gs.com Phone 800 - 526 -7384 Characteristics 3/31/2013 Market Cap 7,893.76 3 Year Earnings Growth 25.69 Dividend Yield 0.72% Price To Book 3.63 Price To Earnings 22.47 Price To Sales 2.47 Price To Cash Flow 15.54 Return on Equity 1 �&09% All per ©2013 E p estnet All Rights fees eesYVed.V ). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS S_ ^ TR ST 23 UN 11�U�7 Mutual Fund US Equity Mid Cap Growth Trailing Performance Calendar Performance 25 60 20 40 15 20 0 10 -20 5 -40 0 -60 1 Qtr YTD 1 Year 3 Year 5 Year 7 Year 10 Year = MF = RMG Performance Returns through 613012013 2012 2011 2010 2009 2008 2007 W MF MR RMG Since Q2 2013 1 Year 3 Year 5 Year 7 Year 10 Year Inception MF 1.52 18.57 16.99 8.54 9.25 10.14 11.26 Benchmark 2.87 22.88 19.53 7.61 7.10 9.94 2013 YTD 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 MF 10.93 19.58 (3.70) 19.10 58.21 (39.97) 19.87 6.51 4.84 16.42 33.01 Benchmark 14.70 15.81 (1.65) 26.38 46.29 (44.32) 11.43 10.66 12.09 15.48 42.72 Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Equity Sectors 3/31/2013 Materials -4.8 Information Technology 7 Healthcare 14.3 Telecommunications -6.2 Consumer Discretionary 20.6 Consumer Staples -6.5 Industrials 8.7 Financials 13.2 Energy -5.1 Utilities 0% 5% 10% 15% 20% 25% Percentage of Equity Equity - Top Portfolio Holdings 3/31/2013 Portfolio % SBA Communications Corp 3.28% CBRE Group Inc 2.34% Agilent Technologies Inc 2.13% Dollar General Corporation 2.12% Equinix, Inc. 2.11% Amphenol Corp 2.09% PVH Corp 2.05% Activision Blizzard, Inc. 2.05% IntercontinentalExchange, Inc. 2.02% MSCI, Inc. 2.01% All performance Y. ©2013 E p estnet All Rights fees (NA.V ). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS S_ ^ TR ST 24 UN 11�U�7 Exchange Traded Fund US Equity Mid Cap Value Firm Overview BlackRock Inc. ( "BlackRock ") was founded in 1988 and is headquartered in New York City, NY. The Firm provides investment management, risk management, advisory services, separate account products, mutual funds, iShares (exchange- traded funds), and other pooled investment vehicles for institutional and retail clients worldwide. On February 15, 2006, BlackRock and Merrill Lynch announced an agreement to merge Merrill Lynch's investment management business, Merrill Lynch Investment Managers, and BlackRock to create a new independent company that will operate under the BlackRock name. Additionally, in December 2009, BlackRock completed its merger with Barclays Global Investors ( "BGI "). Objective The iShares Dow Jones Select Dividend Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of Asset Allocation 6t28t2013 99.4% Equity 0 0.7% Other the Dow Jones Select Dividend Index. The Index measures the performance of a selected group of equity securities issued by companies that have provided relatively high dividend yields on a consistent basis overtime. The Index is comprised of 100 of the highest dividend - yielding securities (excluding REITs) in the Dow Jones U.S. Total Market Index, a broad -based index representative of the total market for U.S. equity securities. To be included in the Index, the securities must have had a flat -to- positive dividend - per -share growth rate for each of the last five years; must have an average five -year dividend payout ratio of 60% or less; and, must have a minimum three -month average trading volume of 200,000 shares a day. The Index is reconstituted annually. The Fund uses a replication strategy - investing in substantially all of the securities in the Index in approximately the same proportions - to track the Index. Region Analysis 6t28t2013 US /Canada Europe Returns through 613012013 Key Facts Benchmark Dow Jones Select Dividend Minimum Investment Manager Team Manager Tenure 3.4 Yrs Shareclass Inception 11/2003 Shareclass Assets $12.4 Billion # of Holdings 103 Annual Turnover (2012) 16% Expense Ratio Gross 40 bps Expense Ratio Net 40 bps Website www.ishares.com Phone 800 - 474 -2737 Characteristics 6/28/2013 Market Cap 12,918.85 3 Year Earnings Growth 6.15 Dividend Yield 4.12% Price To Book 2.13 Price To Earnings 15.93 )0% Price To Sales 1.27 Price To Cash Flow 7.90 Return on Equity 2Jh1 6% All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 25 Exchange Traded Fund US Equity Mid Cap Value Trailing Performance 20 15 10 5 0 oil 1 Qtr YTD 1 Year 3 Year 5 Year 7 Year 10 Year ETF NAV = ETF Mkt Val = DJDVY Calendar Performance 20 0 -20 -40 Returns through 613012013 2012 2011 2010 2009 2008 2007 W ETF NAV = ETF Mkt Val _W DJDVY Performance Portfolio % Lorillard, Inc. 3.68% Lockheed Martin Corporation 3.01% Chevron Corp 2.14% Philip Morris International, Inc. 2.02% Entergy Corp 1.98% McDonald's Corporation 1.86% Kimberly -Clark Corporation Since Integrys Energy Group Inc Q2 2013 1 Year 3 Year 5 Year 7 Year 10 Year Inception ETF (NAV) 1.75 18.15 18.93 9.59 4.16 6.33 ETF (Mkt Val) 1.82 18.09 18.91 9.59 4.13 6.33 Benchmark 1.85 18.44 19.35 10.37 4.82 7.85 2013 YTD 2012 2011 2010 2009 2008 2007 ETF (NAV) 13.75 10.52 11.90 17.69 10.99 (33.00) (5.37) ETF (Mkt Val) 13.79 10.48 11.81 17.79 10.77 (32.64) (5.77) Benchmark 13.84 10.84 12.42 18.32 11.13 (30.97) (5.16) Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Eauitv Sectors 6/28/2013 Eauitv - Top Portfolio HoldinaS 6/28/2013 Materials -6.3 Information Technology 1 1.3 Healthcare _4 Telecommunications .2.5 Consumer Discretionary 9.4 Consumer Staples Industrials Financials Energy _3.7 Utilities 0% 5% 10 13.9 11.2 17.3 30.5 15% 20% 25% 30% 35% Percentage of Equity All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � N T R T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 1tU51 26 Portfolio % Lorillard, Inc. 3.68% Lockheed Martin Corporation 3.01% Chevron Corp 2.14% Philip Morris International, Inc. 2.02% Entergy Corp 1.98% McDonald's Corporation 1.86% Kimberly -Clark Corporation 1.82% Integrys Energy Group Inc 1.63% Watsco, Inc. 1.57% Clorox Company 1.53% All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � N T R T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 1tU51 26 Mutual Fund US Equity Small Cap Value Firm Overview Cambiar Investors LLC ( "Cambiar "), located in Denver, Colorado was founded in 1973 to manage value- oriented equity portfolios for institutional and individual investors. In 1990, Cambiar became a wholly -owned subsidiary of Old Mutual (formerly United Asset Management). In 2001, the management and senior investment professionals formed a limited liability company, called Cambiar LLC, and completed a management buyout from the parent company. Old Mutual retained a minority interest until January 2004, when Cambiar LLC purchased the remaining interest, making the firm 100% employee owned. Objective The Cambiar Small Cap Fund seeks long -term capital appreciation. Process Under normal circumstances, the Fund invests at least 80% of its net assets in common stocks of small cap companies. The Fund considers small -cap companies to be those with market capitalizations not greater than either that of the largest company in the Russell 2000 Index ($3.2 billion as of July 31, 2011) or $3.5 billion, whichever is greater at the time of purchase. Cambiar's investment professionals work as a team to develop investment ideas by analyzing company and industry statements, monitoring Wall Street and other research sources and interviewing company management. The Adviser also evaluates economic conditions and fiscal and monetary policies. Cambiar's approach focuses first on individual stocks and then on industries or sectors. The Adviser tries to select quality companies: possessing above - average financial characteristics; having seasoned management; enjoying product or market advantages; whose stock is selling at a low relative historical valuation based on ratios such as price -to- earnings, Asset Allocation 5/31/2013 Returns through 613012013 price -to -book, price -to -sales and price -to -cash flow; experiencing positive Key Facts developments not yet recognized by the markets, such as positive changes in Benchmark management, improved margins, corporate restructuring or new products; and /or Russell 2000 Value possessing significant appreciation potential within 12 to 18 months. The Adviser may sell a stock because: it realizes positive developments and achieves its target price; it experiences exaggerated price moves relative to actual developments; it becomes over weighted in the portfolio; or it experiences a change in or deteriorating fundamentals. Personnel Brian Barish, CFA, President, Director of Research, joined the Cambiar in 1997. He serves as the Lead Manager of the investment team of the Cambiar Opportunity Fund and Co- Manager of the Cambiar Small Cap Fund. He focuses on the technology, media, aerospace, and defense sectors. Prior to joining the firm, Mr. Barish served as Director of Emerging Markets Research for Lazard Freres & Co., a New York based investment bank. He has also served as a securities analyst with Bear, Stearns & Co. and Arnhold S. Bleichroeder, a New York based research firm. Mr. Barish received a BA degree in Economics and Philosophy from the University of California, Berkeley. Andrew Baumbusch, Principal, joined the Adviser in 2004. He co- manages the Cambiar Opportunity Fund and Cambiar Small Cap Fund with a focus on the industrials, media and telecom sectors. Prior to joining the firm, Mr. Baumbusch served as an investment analyst at Franklin Templeton, Atrium Capital and Alex Brown & Sons. Mr. Baumbusch earned a BA degree in Economics from Princeton University and an MBA from Stanford University. Region Analysis 4/30/2013 US /Canada 97.1% Equity Europe .4/ 2.9% Cash Unclassified 10.5/ 0% 20% 40% 60% 80% 100% Minimum Investment $5 Million Manager Team Manager Tenure 7.5 Yrs Shareclass Inception 10/2008 Shareclass Assets $594.4 Million # of Holdings 53 Annual Turnover (2012) 70% Expense Ratio Gross 119 bps Expense Ratio Net 107 bps Website www.cambiar.com Phone 866 - 777 -8227 Characteristics 5/31/2013 Market Cap 2,014.27 3 Year Earnings Growth 5.01 Dividend Yield 1.21% Price To Book 1.59 Price To Earnings 17.55 Price To Sales 0.84 Price To Cash Flow 8.98 Return on Equity 9.82% All performance presented is net of fees (NAV). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS �_ ^UN T S � ONLY. ©2013 Envestnet. All Rights Reserved. Ru 27 Trailing Performance 30 25 20 15 10 5 0 1 Qtr YTD 1 Year 3 Year 5 Year 7 Year 10 Year = MF R2000V Performance Q2 2013 1 Year 3 Year 5 Year MF 2.68 25.85 19.49 Benchmark 2.47 24.76 17.33 8.59 Calendar Performance 60 40 20 0 - -20 -40 2012 7 Year 10 Year 4.64 9.30 Returns through 613012013 2011 2010 2009 2008 2007 = MF = R2000V Since Inception 20.02 2013 YTD 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 MF 13.87 13.40 (1.16) 35.93 45.40 Benchmark 14.38 18.05 (5.50) 24.50 20.58 (28.92) (9.78) 23.48 4.71 22.25 46.02 Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Equity SectorS 5/31/2013 Equity - Top Portfolio Holdings 5/31/2013 Materials Information Technology Healthcare Telecommunications Consumer Discretionary Consumer Staples 5.8 Industrials Financials Energy Utilities 0% 5% Portfolio % 1 SEI Daily Income Government A 2.91% 15.7 Harman International Industries, Inc. 2.16% -13.4 Cabot Corporation 2.14% Atmel Corporation 2.12% Diebold Incorporated 2.12% 15.3 Magellan Health Services, Inc. 2.12% Exelis Inc 2.11% 16.9 AerCap Holdings N.V. 2.11% Darling International, Inc. 2.10% -13.8 Teradyne Inc 2.09% -11.1 10% 15% 20% Percentage of Equity All performance presented is net of fees (NAV). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS �_ ^UN T S � ONLY. ©2013 Envestnet. All Rights Reserved. Ru 28 Mutual Fund US Equity Small Cap Growth Firm Overview Invesco Ltd. ( "Invesco ") is an independent global investment manager that provides a range of investment strategies and vehicles to retail, institutional, and high net worth clients around the world. Headquartered in Atlanta, Georgia, the firm was created by the combination of two asset management businesses: INVESCO and AIM, both of which had been founded in the 1970s. Objective The Fund's investment objective is long -term growth of capital by investing in small companies that experienced above average long -term growth in earnings and that management believes have excellent prospects for future growth. Process The Fund invests, under normal circumstances, at least 80% of net assets (plus borrowings for investment purposes) in securities of small - capitalization issuers. In complying with the 80% investment requirement, the Fund may also invest in the following investments with economic characteristics similar to the Fund's direct investments: derivatives, exchange- traded funds (ETF), and American Depositary Receipts. These derivatives and other investments may have the effect of leveraging the Fund's portfolio. Additionally, the Fund may also invest up to 25% of its total assets in foreign securities. The Fund considers an issuer to be a small - capitalization issuer if it has a market capitalization, at the time of purchase, no larger than the largest capitalized issuer included in the Russell 2000 Index during the most recent 11 -month period (based on month -end data) plus the most recent data during the current month. As of December 31, 2009, the capitalization of companies in the Russell 2000 Index range from $16 million to $3.7 billion. In selecting investments, the portfolio managers utilize a disciplined portfolio construction process that diversifies the Fund based on the industry group diversification of the Russell 2000 Growth Index and generally maintains a maximum deviation from index industry groups of 350 basis points. The security selection process is based on a three -step process that includes fundamental, valuation and Asset Allocation 3/31/2013 timeliness analysis focused on identifying high quality, fundamentally sound issuers operating in an attractive industry; attractively valued securities given their growth potential over a one- to two -year horizon; and the "timeliness" of a purchase, respectively. The timeliness analysis includes a review of relative price strength, trading volume characteristics and trend analysis to look for signs of deterioration. If a stock shows signs of deterioration, it is generally not considered as a candidate for the portfolio. The portfolio managers consider selling a security if a change in industry or issuer fundamentals indicates a problem, the price target set at purchase is exceeded or a change in technical outlook indicates poor relative strength. Personnel Juliet Ellis, CFA, is a Managing Director and the Lead Senior Portfolio Manager of the AIM Small Cap Equity, AIM Small Cap Growth, AIM V.I. Small Cap Equity, and AIM V.I. Small Cap Growth Funds. Prior to joining AIM in 2004, she served as senior portfolio manager and managing director with JPMorgan Fleming Asset Management. Ms. Ellis received a BA degree in Economics and Political Science from Indiana University. Juan Hartsfield, CFA, is Portfolio Manager and (lead manager with respect to the Fund's investments in the leisure sector). From 2000 to 2004, he was a co- portfolio manager with JPMorgan Fleming Asset Management. Mr. Hartsfield received a BS degree in Petroleum Engineering from the University of Texas and an MBA from the University of Michigan. Clay Manley, CFA, is a Portfolio Manager of the Small Cap Growth Fund and has been responsible for the fund since 2008. He has been associated Invesco and /or its affiliates since 2001. Mr. Manley earned a BA degree in History and Geology from Vanderbilt University and an MBA from Emory University. Region Analysis 3/31/2013 US /Canada 97.2% Equity 2.1% Cash 0 0.7% Other Europe 10.3/ 0% 20% 40% 60% 80% 100% Returns through 613012013 Key Facts Benchmark Russell 2000 Growth Minimum Investment $10 Million Manager Team Manager Tenure 7.6 Yrs Shareclass Inception 3/2002 Shareclass Assets $677 Million # of Holdings 124 Annual Turnover (2012) 24% Expense Ratio Gross 83 bps Expense Ratio Net 83 bps Website www.invesco.com /us Phone 404 - 892 -0896 Characteristics 3/31/2013 Market Cap 2,757.56 3 Year Earnings Growth 22.19 Dividend Yield 0.61% Price To Book 2.93 Price To Earnings 21.39 Price To Sales 1.54 Price To Cash Flow 13.60 Return on Equity 14.12% All performance presented is net of fees (NAV). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS �_ ^UN T S � ONLY. ©2013 Envestnet. All Rights Reserved. Ru 29 Mutual Fund US Equity Small Cap Growth Trailing Performance 30 25 20 15 10 5 0 1 Qtr YTD 1 Year 3 Year 5 Year 7 Year 10 Year = MF R2000G Performance Calendar Performance 40 20 ■ 0 -20 -40 2012 Returns through 613012013 2011 2010 2009 2008 2007 = MF R2000G Since Q2 2013 1 Year 3 Year 5 Year 7 Year 10 Year Inception MF 1.88 25.36 20.59 9.88 8.07 9.96 7.50 Benchmark 3.73 23.66 19.96 8.88 6.89 9.62 2013 YTD 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 MF 15.26 18.77 (0.81) 26.82 35.16 (38.53) 11.85 14.76 8.93 7.41 39.83 Benchmark 17.43 14.59 (2.91) 29.09 34.47 (38.54) 7.05 13.34 4.15 14.31 48.53 Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Equity SectorS 3/31/2013 Materials _3.7 Information Technology - Healthcare - Telecommunications 0 1.2 Consumer Discretionary - Consumer Staples -2.3 Industrials Financials Energy -7 Utilities 10.9 0% 5% Equity - Top Portfolio Holdings 3/31/2013 Costar Group, Inc. 25.9 Manhattan Associates, Inc. 178 Aspen Technology, Inc. ValueClick, Inc. SolarWinds, Inc. -14.6 Cymer, Inc. SBA Communications Corp -15.5 Parexel International Corporation Penn National Gaming N1 TransDigm Group Inc 10% 15% 20% 25% 30% Percentage of Equity Portfolio % 1.51% 1.44% 1.37% 1.36% 1.32% 1.25% 1.18% 1.14% 1.13% 1.04% All performance presented is net of fees (NAV). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS �_ ^UN T S � ONLY. ©2013 Envestnet. All Rights Reserved. Ru 30 Mutual Fund Global Equity Large Cap Core Firm Overview Manning & Napier Advisors, Inc. ( "Manning & Napier ") was established in 1970 in Rochester, NY. Manning & Napier provides domestic & non -U.S. equity, fixed income, multi -asset class, and multiple manager investment solutions to clients consisting of Taft - Hartley and Corporate benefit plans, individuals, endowments, foundations, and municipalities. The firm is 100% employee owned. Objective The Fund seeks to maximize long -term growth by investing principally in the common stocks of companies located around the world. The Fund invests at least 90% of assets in non -U.S. equities chosen from a broad range of markets, including developed and emerging markets and consisting of any market capitalization. Process Manning & Napier's equity investment approach is based on a combination of qualitative company selection strategies and pricing disciplines. Manning & Napier uses a team approach consisting of numerous analysts sharing research with Manning & Napier's Senior Research Group in order to make investment decisions. The investment team uses a bottom -up strategy that focuses on individual security selection in order to make investment decisions. The investment team analyzes factors such as the management, financial condition, and market position of individual companies and selects those that they believe will make attractive long -term investments. In selecting individual securities, the investment team uses fundamental analysis and looks for one or more of the following characteristics: strong strategic profiles (e.g., strong market position, benefits from technology, market share gains in a mature market, high barriers to entry); companies Asset Allocation 5/31/2013 well - positioned to benefit from an anticipated upturn in an industry sub - sector due to sharply reduced competition and improving demand; and, companies trading at very low valuations relative to fundamental or break -up value (companies with hidden asset or cash flow value). In order to make a purchase, an analyst must prove that a stock meets the strategy and pricing disciplines of the firm by receiving a sign -off from an analyst "partner ". The recommendation then goes before the Senior Research Group for review. The role of this group is to rate the final recommendation according to strategy fit and pricing. In this way, the group is involved only at the final decision making stage, while the analytical work is performed by those with industry expertise. The Fund invests primarily in the common stock of foreign companies, but may also invest in ADRs and ETFs. The portfolio has no constraints to position or industry weights in the portfolio. Securities will be sold if they are deemed to be fully valued. Personnel Manning & Napier's Senior Research Group establishes the broad investment policies and guidelines used in the management of the Fund. A team of analysts work with the members of the Senior Research Group to develop stock recommendations for the Fund in line with the Senior Research Group's policies and guidelines. The research includes Christian Andreach, CFA, Co -Head, Senior Analyst and Managing Director and Ebrahim Busheri, CFA, Senior Analyst and Managing Director. Region Analysis 5/31/2013 US /Canada _16.b% Europe Japan -7% = 95.1% Equity 5.0% Cash Asia /Pacific -6.9% Latin America 03.9% E. Europe /Africa 10.6% 0% 20% 40% 60% 80% Returns through 613012013 Key Facts Benchmark Russell Developed Large Cap Minimum Investment $2,000 Manager Team Manager Tenure 9.1 Yrs i Shareclass Inception 9/1996 Shareclass Assets $7 Billion # of Holdings 76 Annual Turnover (2012) 52% Expense Ratio Gross 109 bps Expense Ratio Net 109 bps Website www.manning - napier.com Phone 800 - 466 -3863 Characteristics 5/31/2013 Market Cap 17,387.66 3 Year Earnings Growth 10.45 Dividend Yield 2.21% Price To Book 1.81 Price To Earnings 20.57 Price To Sales 1.08 Price To Cash Flow 9.92 Return on Equity 10.85% All performance presented is net of fees (NAV). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS �_ ^UN T S � ONLY. ©2013 Envestnet. All Rights Reserved. Ru 31 Mutual Fund Global Equity Large Cap Core Trailing Performance 20 15 10 5 0 -5 1 Qtr YTD 1 Year 3 Year 5 Year 7 Year 10 Year = MF = RDLC Performance Calendar Performance 40 20 - 0 - -20 -40 -60 2012 2011 Returns through 613012013 111111111111M� in 2010 2009 2008 2007 MF 11 RDLC Since Q2 2013 1 Year 3 Year 5 Year 7 Year 10 Year Inception MF (1.23) 17.41 8.43 0.75 3.60 9.67 8.45 Benchmark 0.69 19.16 13.98 2.99 3.59 7.45 2013 YTD 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 MF 3.74 18.81 (16.14) 9.23 39.12 (40.07) 15.12 33.88 11.33 25.42 30.80 Benchmark 8.71 16.16 (5.69) 12.43 31.51 (41.19) 9.23 20.12 9.60 15.07 33.77 Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Q,,,.+,.. -- .,..,..- E t T P rtf I' H Id' Materials Information Technology Healthcare Telecommunications -3.7 Consumer Discretionary Consumer Staples Industrials Financials -4.1 Energy Utilities 0% 5% -9.8 .8.4 -8.9 13 15 18.3 10% 15% 20% Percentage of Equity Liu l y - Op O O 10 O I"US 5/31/2013 Portfolio % Dreyfus Cash Management Instl 4.85% Schlumberger NV 4.44% Tesco PLC 3.31% Ryanair Holdings PLC ADR 3.14% Amdocs Ltd. 3.02% Talisman Energy Inc 2.87% Fanuc Corp 2.55% Encana Corp 2.50% Accor SA 2.41% CRH PLC 2.19% All performance Y. ©2013 E p estnet All Rights fees (NA.V ). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS S_ ^ TR ST 32 UN 11�U�7 Mutual Fund International Equity Large Cap Core Firm Overview MFS Investment Management ( "MFS ") is a majority -owned subsidiary of Sun Life Financial. MFS employees retain a significant ownership percentage in the company and the firm offers a program whereby key senior management and senior investment professionals have the opportunity to further participate in equity ownership of the firm. The firm offers a full spectrum of financial products to both institutional and retail investors. Objective The MFS Research International Portfolio seeks capital appreciation by investing in the equity of foreign companies, including emerging markets. Also, the Fund may invest in companies regardless of market capitalization and may allocate a large percentage of assets to one country, a few countries or one geographical region. Additionally, derivatives may be used in the Fund as an alternative to direct investments, as a hedging technique or simply to earn income or enhance returns. The MFS investment philosophy is based upon the belief that stock prices follow sustainable earnings growth and accelerating cash flows, and that bottom -up fundamental research provides the best means of consistently identifying high - quality investments. Process The Research International Fund is managed with an analyst- driven decision making approach as opposed to a traditional portfolio manager led process. The MFS Research International team, which is organized by sector and spread across the globe (Mexico City, Boston, London, Singapore, Tokyo and Sydney), conducts qualitative and quantitative fundamental research by visiting management teams of companies, assessing market conditions, examining current and historical financial records, and building models to analyze the balance sheets and project earnings and cash flow growth. The entire team meets via videoconference on a weekly basis and in- person twice per year (in either Boston or London) to discuss ideas, while individual Asset Allocation 5/31/2013 sector teams meet at least once a month. The Fund, in achieving diversification, can be invested broadly across regions, industries, styles and market capitalizations. However, since the team favors high - quality companies with above average potential for sustainable earnings growth and strong free cash flows, the Fund tends to have a large cap bias. The Fund's "core" style allows the team flexibility to select both growth and value companies for inclusion, and the portfolio typically consists of 100 to 120 holdings that are considered the team's "highest conviction ideas." The Fund remains sector neutral to the MSCI EAFE Index, with no more than 25% allocated to one industry. Additonally, emerging market exposure is limited to 25% of the portfolio while individual position sizes are maxed out at 5 %. The team's sell discipline is triggered if a company reaches its target price, a fundamental change occurs such as deteriorating cash flow generation or a better opportunity is presented. Personnel All of the international analysts contribute ideas to the portfolio, but the team is overseen by Jose Luis Garcia and Thomas Melendez. Jose Luis Garcia is an Investment Officer and an Equity Research Analyst at MFS. In addition, he oversees the analyst team that manages the international research portfolios. Jose Luis joined MFS in 2002. Previously, he was CEO of Telefonica 13213 in Mexico City. Mr. Garcia received a bachelor's degree from Boston College and a M.B.A. from Harvard University. Thomas Melendez is an Investment Officer and an Associate Portfolio Manager of the global equity portfolios at MFS. Mr. Melendez joined MFS in 2002 with more than ten years experience. He earned his bachelor's degree from Long Island University and M.B.A. from Columbia University. Region Analysis 5/31/2013 US /Canada 11.7% Europe Japan 21.9 % � 98.9% Equity 1.1% Cash Asia /Pacific _13.4/ Latin America 03.3% E. Europe /Africa 10.7/ 0% 20% 40% 60% Returns through 613012013 Key Facts Benchmark Russell Developed ex North America Large Cap Minimum Investment Manager Garcia/ Melendez Manager Tenure 8.1 Yrs Shareclass Inception 1/1997 Shareclass Assets $1.7 Billion # of Holdings 110 Annual Turnover (2012) 37% Expense Ratio Gross 97 bps Expense Ratio Net 97 bps Website www.mfs.com Phone 800 - 343 -2829 Characteristics 5/31/2013 Market Cap 33,132.82 3 Year Earnings Growth 12.88 Dividend Yield 2.88% Price To Book 1.51 Price To Earnings 14.95 Price To Sales 1.22 Price To Cash Flow 8.79 Return on Equity 14.41% All performance presented is net of fees (NAV). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS �_ ^UN T S � ONLY. ©2013 Envestnet. All Rights Reserved. Ru 33 Mutual Fund International Equity Large Cap Core Trailing Performance 20 15 10 5 0 -5 1 Qtr YTD 1 Year = MF Performance 3 Year 5 Year 7 Year 10 Year RDxNALC Calendar Performance 40 20 - 0 _ -20 -40 -60 2012 2011 = MF Returns through 613012013 2010 2009 2008 2007 RDxNALC Equity SectorS 5/31/2013 Equity - Top Portfolio Holdings 5/31/2013 Materials 7.2 Information Technology -8.2 Healthcare Telecommunications -5.3 Consumer Discretionary Consumer Staples Industrials Financials Energy 7.9 Utilities _3.1 0% 5% 10% 15% Percentage of Equity Portfolio % Royal Dutch Shell PLC Class A 2.70% Nestle SA 2.56% Since Q2 2013 1 Year 3 Year 5 Year 7 Year 10 Year Inception MF (0.55) 16.98 11.19 0.05 2.52 8.68 7.14 Benchmark (0.86) 19.13 10.24 (0.40) 1.64 7.84 2013 YTD 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 MF 3.43 16.98 (10.61) 11.22 31.43 (42.46) 13.24 27.70 16.62 20.85 33.03 Benchmark 4.25 17.67 (12.40) 8.39 33.72 (44.02) 11.64 27.09 13.41 20.09 39.42 Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Equity SectorS 5/31/2013 Equity - Top Portfolio Holdings 5/31/2013 Materials 7.2 Information Technology -8.2 Healthcare Telecommunications -5.3 Consumer Discretionary Consumer Staples Industrials Financials Energy 7.9 Utilities _3.1 0% 5% 10% 15% Percentage of Equity Portfolio % 20% 25% All performance Y. ©2013 E p estnet All Rights fees (NA.V ). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS S_ ^ TR ST 34 UN 11�U�7 Royal Dutch Shell PLC Class A 2.70% Nestle SA 2.56% 0.3 Novartis AG 2.31% Roche Holding AG 2.21% GlaxoSmithKline PLC 2.14% ■12 Rio Tinto PLC 1.96% 110.8 Westpac Banking Corp 1.91% -12.5 Honda Motor Co Ltd 1.88% BP PLC 1.85% Danone 1.83% 20% 25% All performance Y. ©2013 E p estnet All Rights fees (NA.V ). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS S_ ^ TR ST 34 UN 11�U�7 Mutual Fund Emerging Markets Equity All Cap Growth Firm Overview OppenheimerFunds Inc. ( "Oppenheimer ") was formed in 1960 as an affiliate of Oppenheimer & Co. Inc., a securities brokerage firm now known as CIBC Oppenheimer Corporation. Oppenheimer, then known as Oppenheimer Management Corporation, was the investment adviser to one mutual fund, the Oppenheimer Fund. Oppenheimer is owned by its senior management and Massachusetts Mutual Life Insurance Company. Objective The Fund aggressively seeks capital appreciation through investment in companies with high growth potential in emerging and developing foreign markets. Oppenheimer's approach is to identify trends, such as the spread of affluence and new technologies that they believe will fuel long -term growth worldwide, which they believe will lead them to promising companies at advantageous prices. Process The Fund mainly invests in common stocks of issuers in emerging and developing markets throughout the world. Under normal market conditions, the Fund will invest at least 80% of its net assets plus borrowings for investment purposes, in equity securities of issuers whose principal activities are in at least three developing markets. The portfolio manager evaluates investment opportunities on a company -by- company basis. They conduct fundamental analysis of a company's financial statements and management structure. They also consider the company's operations and product development, as well as its position in its industry. Generally, characteristics sought when choosing investments include: companies that enjoy a strong competitive position in their industry; companies with a proven management record and the ability Asset Allocation 5/31/2013 n,°, 2% to take advantage of business opportunities; companies with newer or established business that are entering into a growth cycle; companies with accelerating earnings growth and cash flow whose stock is selling at a reasonable price; and, companies in diverse industries and countries to help reduce the risks of foreign investing, such as currency fluctuations and stock market volatility. The Fund has the flexibility to invest in both small and larger companies and is diversified by several countries in order to help lower the volatility of emerging markets. The portfolio manager also considers the effect of worldwide trends on the growth of particular business sectors and looks for companies that may benefit from those trends. The trends currently considered include: mass affluence, new technologies, restructuring, and aging. The portfolio manager does not invest any fixed amount of the Fund's assets according to these criteria and the trends that are considered may change over time. The portfolio manager monitors individual issuers for changes in the factors above, which may trigger a decision to sell a security. Personnel Justin Leverenz, CFA, is responsible for the day -to -day management of the Fund's investments. Mr. Leverenz has been a vice president and portfolio manager of the Fund since May 2007. Prior to joining the firm, Mr. Leverenz was the Head of Research for Goldman Sachs in Taiwan and Head of Asian Technology Research Pan -Asia. He is a portfolio manager and an officer of other portfolios in the OppenheimerFunds complex. Mr. Leverenz earned both a BA degree and an MA from the University of California. Region Analysis 5/31/2013 Europe 15.2% Asia /Pacific =44.2% � 91.9% Equity 6.1% Cash 0 2.0% Other Latin America 18.4% E. Europe /Africa -14.1% 0% 10% 20% 30% 40% 50% Returns through 613012013 Key Facts Benchmark Russell Emerging Markets Large Cap Minimum Investment Manager Leverenz Manager Tenure 6.2 Yrs Shareclass Inception 9/2005 Shareclass Assets $15.2 Billion # of Holdings 113 Annual Turnover (2012) 20% Expense Ratio Gross 103 bps Expense Ratio Net 103 bps Website www.oppenheimerfunds.com Phone 800 - 981 -2871 Characteristics 5/31/2013 Market Cap 17,470.37 3 Year Earnings Growth 19.47 Dividend Yield 1.86% Price To Book 2.40 Price To Earnings 18.86 Price To Sales 2.17 Price To Cash Flow 12.55 Return on Equity 21.79% All performance presented is net of fees (NAV). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS �_ ^UN T S � ONLY. ©2013 Envestnet. All Rights Reserved. Ru 35 Trailing Performance 15 10 5 0 - -5 -10 z== MM Calendar Performance 100 80 60 40 20 _ 0 _ -20 -40 -60 Returns through 613012013 1 Qtr YTD 1 Year 3 Year 5 Year 7 Year 10 Year 2012 2011 2010 2009 2008 2007 = MF MW REMLC = MF 11 REMLC Performance Equity Sectors 5/31/2013 Equity - Top Portfolio Holdings 5/31/2013 Materials -4.9 Information Technology - Healthcare _3.3 Telecommunications _3.7 Consumer Discretionary - Consumer Staples Industrials -3.7 Financials Energy - Utilities 0% 5% Portfolio % Oppenheimer Institutional Money Market E 6.10% 18.4 Baidu, Inc. ADR 3.87% Tencent Holdings Ltd. 2.73% Since Q2 2013 1 Year 3 Year 5 Year 7 Year 10 Year Inception MF (3.95) 7.87 8.13 5.48 10.01 1.64% 11.34 Benchmark (7.67) 3.50 3.76 (0.05) 6.07 13.86 2013 YTD 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 MF (3.78) 21.29 (17.85) 27.39 82.10 (47.84) 34.30 25.70 Benchmark (9.08) 17.84 (18.26) 20.45 81.23 (54.54) 39.99 33.63 33.53 24.21 54.36 Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Equity Sectors 5/31/2013 Equity - Top Portfolio Holdings 5/31/2013 Materials -4.9 Information Technology - Healthcare _3.3 Telecommunications _3.7 Consumer Discretionary - Consumer Staples Industrials -3.7 Financials Energy - Utilities 0% 5% Portfolio % Oppenheimer Institutional Money Market E 6.10% 18.4 Baidu, Inc. ADR 3.87% Tencent Holdings Ltd. 2.73% America Movil, S.A.B. de C.V. ADR 2.44% OJSC Magnit 2.29% -13.1 NHN Corporation 2.21% 21.5 OAO Novatek GDR 2.05% Housing Development Finance Corp Ltd. 2.04% Carlsberg AS 1.77% 20 Anglo American PLC 1.64% -11.2 10% 15% 20% 25% Percentage of Equity All performance Y. ©2013 E p estnet All Rights fees (NA.V ). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS S_ ^ TR ST 36 UN 11�U�7 Exchange Traded Fund US Fixed Income Intermediate Term Investment Grade Firm Overview The Vanguard Group ( "Vanguard ") began operations on May 1, 1975. The Vanguard Funds are independent investment companies that jointly own the Vanguard Group, the management company that provides services to the funds on an at -cost basis. This organizational structure dictates that profits from the company are returned to the fund shareholders in the form of lower expenses. Objective The Fund's investment approach is a "passive management" and is designed to track the performance of the Barclays Capital U.S. Aggregate Float Adjusted Index, which Asset Allocation 3/31/2013 6.6% 93.3% Fixed 6.6% Cash 0 0.1% Other represents a wide spectrum of public, investment - grade, taxable, and fixed income securities in the United States. The Fund does this by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process and at least 80% of the Fund's assets will be invested in bonds held in the Index. The Fund maintains a dollar- weighted average maturity consistent with that of the Index, which generally ranges between 5 and 10 years. Region Analysis 3/31/2013 US /Canada Europe Japan Asia /Pacific Latin America - E. Europe /Africa- Unclassified 0% 20% 40% 60% 80% 100% Returns through 613012013 Key Facts Benchmark Barclays Intermediate Aggregate Minimum Investment Manager Barrickman/ Volpert Manager Tenure 10.5 Yrs Shareclass Inception 4/2007 Shareclass Assets $16.8 Billion # of Holdings 15783 Annual Turnover (2012) 80% Expense Ratio Gross 10 bps Expense Ratio Net 10 bps Website www.vanguard.com Phone 877 - 662 -7447 Characteristics 3/31/2013 Duration 5.3 Average Maturity 7.30 Coupon Percent 3.77 Average Credit Quality AA Current Yield All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 37 83.2% 3.4% 0.2% 0.5% 1.4% 0.2% 4.4% 20% 40% 60% 80% 100% Returns through 613012013 Key Facts Benchmark Barclays Intermediate Aggregate Minimum Investment Manager Barrickman/ Volpert Manager Tenure 10.5 Yrs Shareclass Inception 4/2007 Shareclass Assets $16.8 Billion # of Holdings 15783 Annual Turnover (2012) 80% Expense Ratio Gross 10 bps Expense Ratio Net 10 bps Website www.vanguard.com Phone 877 - 662 -7447 Characteristics 3/31/2013 Duration 5.3 Average Maturity 7.30 Coupon Percent 3.77 Average Credit Quality AA Current Yield All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 37 Exchange Traded Fund US Fixed Income Intermediate Term Investment Grade Trailing Performance 6 4 2 0 ,-2 -4 1 Qtr YTD 1 Year 3 Year 5 Year 7 Year 10 Year Returns through 613012013 Calendar Performance 8 6 4 2 0 2012 2011 2010 2009 2008 2007 ETF NAV = ETF Mkt Val W BCIntAgg Portfolio % ETF NAV ETF Mkt Val BCIntAgg 0.63% Performance 0.63% US Treasury Note 1 % 0.60% US Treasury Note 0.375% 0.58% FHLMC 3.5% 0.56% US Treasury Note 0.25% 0.54% US Treasury Note 0.375% 0.53% Fannie Mae Single Family TBA 3% 2043 -04 -01 0.52% US Treasury Note 2.125% _ Since Q2 2013 1 Year 3 Year 5 Year 7 Year 10 Year Inception ETF (NAV) (2.42) (0.84) 3.35 5.11 5.15 ETF (Mkt Val) (2.56) (1.11) 3.28 5.03 5.11 Benchmark (1.78) (0.12) 3.03 4.76 5.28 4.30 2013 YTD 2012 2011 2010 2009 2008 2007 ETF (NAV) (2.45) 3.95 7.71 6.51 6.03 5.18 ETF (Mkt Val) (2.64) 3.79 7.92 6.20 3.33 7.66 Benchmark (1.63) 3.56 5.97 6.15 6.46 4.86 7.02 Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Fixed Sectors 3/31/2013 Treasury Agency /Quasi Agcy _5.1% Supranational 01.4% Agency MBS 23% Non -Agcy MBS 10.9% CMBS .1.3% Asset Backed (ABS) 1 0.4 % Corporate Bond 21.7% Preferred Stock 10.1% Cash & Equivalents _6.6% Municipals 10.9% 0% 10% 20% 30% 40% Percentage of Fixed Fixed - Top Portfolio Holdings 3/31/2013 Portfolio % US Treasury Bond 6.25% 0.69% Fannie Mae Single Family TBA 3.5% 2043 -04 -01 0.63% US Treasury Note 0.375% 0.63% US Treasury Note 1 % 0.60% US Treasury Note 0.375% 0.58% FHLMC 3.5% 0.56% US Treasury Note 0.25% 0.54% US Treasury Note 0.375% 0.53% Fannie Mae Single Family TBA 3% 2043 -04 -01 0.52% US Treasury Note 2.125% 0.51% All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 38 Exchange Traded Fund US Fixed Income Intermediate Term Investment Grade Firm Overview BlackRock Inc. ( "BlackRock ") was founded in 1988 and is headquartered in New York City, NY. The Firm provides investment management, risk management, advisory services, separate account products, mutual funds, iShares (exchange- traded funds), and other pooled investment vehicles for institutional and retail clients worldwide. On February 15, 2006, BlackRock and Merrill Lynch announced an agreement to merge Merrill Lynch's investment management business, Merrill Lynch Investment Managers, and BlackRock to create a new independent company that will operate under the BlackRock name. Additionally, in December 2009, BlackRock completed its merger with Barclays Global Investors ( "BGI "). BlackRock's ownership structure has no single majority stockholder and has a majority of independent directors. Merrill Lynch & Co., Inc., a wholly -owned subsidiary of Bank of America Corporation, The PNC Financial Services Group, Inc., and Barclays PLC own economic interests in BlackRock approximating 34.1%, 24.6% and 19.9 %, respectively, with the remainder owned by institutional and individual investors, as well as BlackRock employees. Objective The iShares iBoxx $ Investment Grade Corporate Bond Fund seeks investment results that correspond to the performance of the corporate bond market as defined by the Asset Allocation 6/28/2013 iBoxx $ Liquid Investment Grade Index (the "Index "), which measures the performance of a fixed number of liquid, investment grade corporate bonds. The Index is a subset of the iBoxx USD Corporate Bond Index, an index of over 2,700 investment grade bonds. Currently, the bonds eligible for inclusion in the Index include U.S. dollar- denominated, SEC - registered corporate bonds that: are issued by companies domiciled in the U.S., Canada, Western Europe, or Japan; are rated investment grade by a nationally recognized rating agency; have at least $750 million of outstanding face value; and, are less than five years since issue date and have at least three years to maturity. The Fund uses a representative sampling strategy, seeking to track the Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield), and liquidity measures similar to those of the Index. The Fund generally invests at least 90% of its assets in securities of the Index and at least 95% of its assets in investment grade corporate bonds. Region Analysis 6/28/2013 US /Canada Europe _12.7/ 99.7% Fixed Japan 10.4/ 0.3% Cash Asia /Pacific 11.6/ Latin America 10.4/ 1.7 / 0% 20% 40% 60% 80% 100 All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. 39 Returns through 613012013 Key Facts Benchmark Barclays US Credit Minimum Investment Manager Mauro/ Radell Manager Tenure 2.5 Yrs Shareclass Inception 7/2002 Shareclass Assets $19.5 Billion # of Holdings 1087 Annual Turnover (2012) 4% Expense Ratio Gross 15 bps Expense Ratio Net 15 bps Website www.ishares.com Phone 800 - 474 -2737 Characteristics 6/28/2013 Duration 7.7 Average Maturity Coupon Percent 4.97 Average Credit Quality BBB Current Yield S N RUST Exchange Traded Fund US Fixed Income Intermediate Term Investment Grade Trailing Performance 8 6 4 2 0 -2 -4 -6 1 Qtr YTD 1 Year 3 Year 5 Year 7 Year 10 Year ETF NAV ! ETF Mkt Val BCCredit Calendar Performance 20 15 10 5 0 -5 Returns through 613012013 2012 2011 2010 2009 2008 2007 = ETF NAV = ETF Mkt Val = BCCredit Performance Portfolio % Goldman Sachs Grp 6.75% 0.36% Merrill Lynch Co Inc Mtn Be 6.875% 0.36% At &T 5.35% 0.34% Goldman Sachs Grp 6.15% 0.32% Jpmorgan Chase 3.15% 0.32% Ubs Ag Stamford Brh 5.875% 0.31% France Telec 31 SrN _ Since Jpmorgan Chase 6% Q2 2013 1 Year 3 Year 5 Year 7 Year 10 Year Inception ETF (NAV) (4.39) 0.50 6.07 7.30 6.48 4.93 5.91 ETF (Mkt Val) (4.34) 0.33 5.95 7.27 6.45 4.90 5.92 Benchmark (3.44) 0.84 5.47 6.97 6.47 5.10 2013 YTD 2012 2011 2010 2009 2008 2007 ETF (NAV) (4.93) 11.68 8.89 9.15 12.10 (0.33) 3.73 ETF (Mkt Val) (4.62) 10.58 9.73 9.33 8.46 2.40 3.75 Benchmark (3.60) 9.37 8.35 8.47 16.04 (3.08) 5.11 Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Fixed Sectors 6/28/2013 Fixed - Top Portfolio Holdings 6/28/2013 Corporate Bond Cash & Equivalents 10.3/ 0% 20% 40% 60% 80% Percentage of Fixed 100% All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 40 Portfolio % Goldman Sachs Grp 6.75% 0.36% Merrill Lynch Co Inc Mtn Be 6.875% 0.36% At &T 5.35% 0.34% Goldman Sachs Grp 6.15% 0.32% Jpmorgan Chase 3.15% 0.32% Ubs Ag Stamford Brh 5.875% 0.31% France Telec 31 SrN 0.31% Jpmorgan Chase 6% 0.30% Goldman Sachs Grp 6.25% 0.30% General Elec Cap Corp Mtn Be 6.875% 0.30% All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 40 Mutual Fund US Fixed Income Long Term Investment Grade Firm Overview Pacific Investment Management Company, LLC ( "PIMCO ") was founded in 1971 as a subsidiary of Pacific Mutual Insurance Company, now known as Pacific Life. Currently, Allianz AG owns approximately 97% of PIMCO's parent company, Allianz Global Investors of America, LP, leaving Pacific Life with approximately 3 %. PIMCO, located in Newport Beach, California, is the Global Fixed Income Management Leader for Allianz AG and operates as a separate, autonomous subsidiary. PIMCO offers separate account services in addition to mutual funds for individual and institutional investors. Objective The PIMCO Investment Grade Corporate Bond Fund seeks total return, consistent with preservation of capital, by investing mainly in investment grade corporate fixed income securities rated Baa or higher by Moody's or another rating agency. Process The Fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets in a diversified portfolio of investment grade corporate fixed income securities of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. Assets not invested in investment grade corporate fixed income securities may be invested in other types of fixed income instruments. The average portfolio duration of Asset Allocation 3/31/2013 Fixed 169.1% Cash Other J 7.6% -100% -50% 0% 50% 100% 150% 200% this Fund normally varies within +/- two years of the duration of the Barclays US Credit Index. The Fund invests primarily in investment grade debt securities, but may invest up to 10% of its total assets in high yield securities rated B or Ba by Moody's, or equivalently rated by S &P or Fitch, or, if unrated, determined by PIMCO to be of comparable quality. The Fund may invest up to 30% of its total assets in securities denominated in foreign currencies, and may invest beyond this limit in U.S. dollar- denominated securities of foreign issuers. The Fund may invest up to 15% of its total assets in securities that are economically tied to emerging market countries. The Fund may also invest up to 10% of its total assets in preferred stocks. The Fund may invest all of its assets in derivative instruments, such as options, futures contracts or swap agreements, or in mortgage- or asset - backed securities. Personnel Mark Kiesel is an Executive Vice President of the firm, Portfolio Manager of the Fund, and a Senior Member of the Investment Strategy and portfolio management group. Mr. Kiesel also heads the investment -grade corporate bond desk and manages corporate portfolios for the firm. He joined PIMCO in 1996, and previously served as PIMCO's head of equity derivatives and as a senior credit analyst. Mr. Kiesel received his BA degree from the University of Michigan and an MBA degree from the University of Chicago. Region Analysis 3/31/2013 US /Canada 67.2% Europe _12.29 Japan I0.2% Asia /Pacific 12.2% Latin America 05.8% E. Europe /Africa I0.1 % Unclassified 81.4% 0% 20% 40% 60% 80% 100% All performance presented is net of fees (NAV). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. 41 Returns through 613012013 Key Facts Benchmark Barclays Aggregate Minimum Investment $1 Million Manager Kiesel Manager Tenure 10.6 Yrs Shareclass Inception 4/2000 Shareclass Assets $5.4 Billion # of Holdings 1640 Annual Turnover (2012) 124% Expense Ratio Gross 50 bps Expense Ratio Net 50 bps Website investments. pimco.com Phone 800 - 387 -4626 Characteristics 3/31/2013 Duration 6.7 Average Maturity 10.37 Coupon Percent 4.01 Average Credit Quality Current Yield S N RUST Mutual Fund US Fixed Income Long Term Investment Grade Trailing Performance 10 8 6 4 2 0 . ■ -2 -4 -6 1 Qtr YTD Performance Krim7 7 1 Year 3 Year 5 Year 7 Year 10 Year = MF BCAgg Calendar Performance 20 15 10 5 0 Returns through 613012013 2012 2011 2010 2009 2008 2007 = MF BCAgg Fixed SectorS 3/31/2013 Fixed - Top Portfolio HoldinQS 3/31/2013 Treasury -26.3% Agency /Quasi Agcy 10.8% Intr Rate Derivatives 43.8% Since Q2 2013 1 Year 3 Year 5 Year 7 Year 10 Year Inception MF (4.29) 3.58 7.90 9.97 8.99 7.06 8.46 Benchmark (2.33) (0.69) 3.51 5.19 5.60 4.52 -60% -40% -20% 0% 20% 40% 60% 2013 YTD 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 MF (3.14) 14.99 6.86 11.72 18.74 1.89 7.15 4.18 2.53 6.02 10.38 Benchmark (2.44) 4.21 7.84 6.54 5.93 5.24 6.97 4.33 2.43 4.34 4.11 Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Fixed SectorS 3/31/2013 Fixed - Top Portfolio HoldinQS 3/31/2013 Treasury -26.3% Agency /Quasi Agcy 10.8% Intr Rate Derivatives 43.8% Agency MBS 12.8% Non -Agcy MBS 04.2% CMBS 10.1% Asset Backed (ABS) 04.2% Bank Loan 12.1% Corporate Bond 1.06% Preferred Stock 10.8% Cash & Equivalents Municipals I1.1 Derivatives -28.8% -80% -60% -40% -20% 0% 20% 40% 60% Percentage of Fixed Portfolio % US Treasury Note 2% 5.36% US Treasury Note 1.625% 2.87% US Treasury Bond 4.75% 2.29% US Treasury Bond 2.75% 1.79% Italy(Rep Of) 4.75% 1.48% US Treasury Note 3.125% 1.30% Spain(Kingdom Of) 4.25% 1.26% US Treasury Note 2.125% 1.18% Fin Fut Us 10yr Clot 06/19/13 1.06% Italian Btp Bond 1.04% All performance Y. ©2013 E p estnet All Rights fees (NA.V ). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS S_ ^ TR ST 42 U�111�U�7 Exchange Traded Fund US Fixed Income Short Term Investment Grade Firm Overview The Vanguard Group ( "Vanguard ") began operations on May 1, 1975. The Vanguard Funds are independent investment companies that jointly own the Vanguard Group, the management company that provides services to the funds on an at -cost basis. This organizational structure dictates that profits from the company are returned to the fund shareholders in the form of lower expenses. Vanguard is organized into two major operating divisions, the Individual Investor Group and the Institutional Investor Group, both of which offer a variety of investment services. Objective The Fund's investment approach is designed to track the performance of the Barclays Capital U.S. 1 -5 Year Government/ Credit Float Adjusted Index, with a short -term dollar weighted average maturity. The investment team uses a "passive management" Asset Allocation 3/31/2013 2.9% or index style to investing. The Fund looks at all medium and larger issues of U.S. government, investment -grade corporate, and investment -grade international dollar - denominated bonds that have maturities between 1 and 5 years and are publically issued. The Fund does this by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process and at least 80% of the Fund's assets will be invested in bonds held in the Index. The Fund maintains a dollar- weighted average maturity consistent with that of the Index, which generally does not exceed three years. Region Analysis 3/31/2013 US /Canada Europe Japan 97.1% Fixed Asia /Pacific 2.9% Cash 0 0.0% Other Latin America - E. Europe /Africa Unclassified 0% 0 20% 40% 60% 80% 100% Returns through 613012013 Key Facts Benchmark Barclays 1 -5 Year US Govt/ Credit Minimum Investment Manager Barrickman/ Pu Manager Tenure 0.4 Yrs Shareclass Inception 4/2007 Shareclass Assets $12.4 Billion # of Holdings 1596 Annual Turnover (2012) 51% Expense Ratio Gross 10 bps Expense Ratio Net 10 bps Website www.vanguard.com Phone 877 - 662 -7447 Characteristics 3/31/2013 Duration 2.7 Average Maturity 2.80 Coupon Percent 2.09 Average Credit Quality AA Current Yield All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 43 89.3 1 .1% 0.8% 0.2% 0.3% 0 20% 40% 60% 80% 100% Returns through 613012013 Key Facts Benchmark Barclays 1 -5 Year US Govt/ Credit Minimum Investment Manager Barrickman/ Pu Manager Tenure 0.4 Yrs Shareclass Inception 4/2007 Shareclass Assets $12.4 Billion # of Holdings 1596 Annual Turnover (2012) 51% Expense Ratio Gross 10 bps Expense Ratio Net 10 bps Website www.vanguard.com Phone 877 - 662 -7447 Characteristics 3/31/2013 Duration 2.7 Average Maturity 2.80 Coupon Percent 2.09 Average Credit Quality AA Current Yield All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 43 Exchange Traded Fund US Fixed Income Short Term Investment Grade Trailing Performance 6 4 2 0 -2 1 Qtr YTD ETF NAV 1 Year 3 Year 5 Year 7 Year 10 Year M ETF Mkt Val BC1 -5G /C Calendar Performance 10 8 6 4 2 0 Returns through 613012013 2012 2011 2010 2009 2008 2007 = ETF NAV = ETF Mkt Val _ BC1 -5G /C Performance Portfolio % US Treasury Note 0.25% 2.49% US Treasury Note 2.25% 1.50% US Treasury Note 2.625% 1.42% US Treasury Note 2.5% 1.42% Since Note 0.75% Q2 2013 1 Year 3 Year 5 Year 7 Year 10 Year Inception ETF (NAV) (0.80) 0.45 1.82 3.28 1.27% US Treasury 3.84 ETF (Mkt Val) (0.77) 0.38 1.77 3.24 3.83 Benchmark (0.75) 0.60 1.97 3.37 4.20 3.37 2013 YTD 2012 2011 2010 2009 2008 2007 ETF (NAV) (0.54) 1.98 3.04 4.00 4.44 5.48 ETF (Mkt Val) (0.55) 1.99 2.95 3.89 1.54 8.47 Benchmark (0.48) 2.24 3.14 4.08 4.62 5.12 7.27 Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Fixed SectorS 3/31/2013 Fixed - Top Portfolio HoldingS 3/31/2013 Treasury 62.8% Agency /Quasi Agcy _9.3% Supranational 03.2% Securitized 10.2/ Corporate Bond 21.5% Preferred Stock Cash & Equivalents .2.9% Municipals 10.1% 0% 20% 40% 60% Percentage of Fixed 80% All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 44 Portfolio % US Treasury Note 0.25% 2.49% US Treasury Note 2.25% 1.50% US Treasury Note 2.625% 1.42% US Treasury Note 2.5% 1.42% US Treasury Note 0.75% 1.36% US Treasury Note 0.625% 1.32% US Treasury Note 1.75% 1.31% US Treasury Note 2.375% 1.27% US Treasury Note 0.625% 1.27% US Treasury Note 2.25% 1.24% All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 44 Mutual Fund Floating Rate Loans Short Term High Yield Firm Overview Eaton Vance Corporation ( "Eaton Vance "), which dates back to 1924, is a Boston - based, publicly traded investment management firm. Through its subsidiaries, Eaton Vance is an adviser and distributor of investment products for individual and institutional clients. The firm has managed mutual funds since 1931. Objective Eaton Vance's philosophy is focused on preservation of par value for shareholders to generate good risk - adjusted returns. Eaton Vance believes a well diversified portfolio from both a sector and security perspective combined with an intense credit culture that is constantly screening and monitoring credits is the best way to achieve its goal. Process The Fund will invest at least 80% of its total assets in income producing floating rate loans and other floating rate debt securities. The Fund may also invest up to 25% in foreign senior loans. Eaton Vance has a five step credit selection process that starts with a fundamental overview of a company, the transaction, and industry dynamic. Quantitative analysis is done to model stability of cash flows, operating leverage, debt pay down ability, and downside protection. The loan structure is analyzed from both a legal and collateral coverage perspective. Risk is then assessed on the issue looking at both third party and internal ratings and risk scores. Finally, the team does relative Asset Allocation 4/30/2013 value analysis to rank the risk /reward of the transaction. The portfolio is constructed with risk controls in place to limit sector and security risk. Personnel Scott H. Page, CFA, is a Vice President and Co- Director of Eaton Vance's senior loan funds. He has been a member of Eaton Vance's Bank Loan Team since 1989 and was named Co- Manager in July 1996. Previous associations: Investment Officer, Dartmouth College Investment Office; Assistant Vice President, Citicorp (Leveraged Finance); Credit Review Officer, Chase Manhattan Bank. Mr. Page earned his MBA from the Amos Tuck School at Dartmouth College in 1987 and his BA from Williams College in 1981. Craig P. Russ is a Vice President, Portfolio Manager, and Senior Analyst of Eaton Vance's senior loan funds. Craig has been a member of Eaton Vance's Bank Loan Team since 1997. Mr. Russ focuses on credit analysis within the Media /telecom industry and is a co- manager for several Eaton Vance senior loan funds. Previous associations: Vice President Specialized Lending Division State Street Bank. Mr. Russ earned his BA from Middlebury College. Region Analysis 4/30/2013 US /Canada 12.7% 0.3% Equity Europe 10.8/ 90.9% Fixed EM 8.0% Cash Latin America 0.2% 0 0.8% Other Unclassified 87.5 0% 20% 40% 60% 80% 100 Returns through 613012013 Key Facts Benchmark Credit Suisse Leveraged Loan Minimum Investment $250,000 Manager Page/ Russ Manager Tenure 9 Yrs Shareclass Inception 1/2001 Shareclass Assets $8.4 Billion # of Holdings 706 Annual Turnover (2012) 42% Expense Ratio Gross 77 bps Expense Ratio Net 77 bps Website www.eatonvance.com Phone 800 - 225 -6265 Characteristics 4/30/2013 Duration 0.2 Average Maturity Coupon Percent 6.96 Average Credit Quality B Current Yield All performance presented is net of fees (NAV). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS �_ ^UN T S � ONLY. ©2013 Envestnet. All Rights Reserved. Ru 45 Mutual Fund Floating Rate Loans Short Term High Yield Trailing Performance 8 6 4 2 0 -2 1 Qtr YTD 1 Year 3 Year 5 Year 7 Year 10 Year MF CSLevLn Performance Q2 2013 1 Year 3 Year 5 Year MF (0.01) 6.12 6.29 5.12 Benchmark 0.43 7.63 6.84 5.76 Returns through 613012013 Calendar Performance 60 40 20 0 -20 -40 2012 2011 2010 2009 2008 2007 = MF CSLevLn Since 7 Year 10 Year Inception 4.26 4.34 4.29 4.65 5.16 2013 YTD 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 MF 2.01 8.27 2.44 9.55 46.51 (30.25) 2.01 6.48 4.63 3.68 6.12 Benchmark 2.81 9.42 1.80 9.97 44.88 (28.75) 1.87 7.35 5.68 5.61 11.00 Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Fixed Sectors 4/30/2013 Fixed - Top Portfolio Holdings 4/30/2013 Securitized Bank Loan Corporate Bond 13.3% Cash & Equivalents M8.1% 0% 20% Portfolio % HJ HEINZ COMPANY TERM LOAN B2 1.14% ASURION LLC FIRST LIEN 0.98% FMG RES AUG 2006 FLOATING COUPON MATURITY 20171018 0.85% ALLIANCE BOOTS HOLDINGS LIMITE GBP TERM LOAN B4 0.84% 88.6% INTELSAT JACKSON HOLDINGS LTD TERM LOAN B1 0.82% MEG ENERGY CORP FLOATING COUPON MATURITY 20200331 0.78% CHRYSLER GROUP FLOATING COUPON MATURITY 20170524 0.76% NBTY INC FLOATING COUPON MATURITY 20171001 0.71% WEIGHT WATCHERS INTERNATIONAL TERM LOAN B2 0.68% LAUREATE EDUCATI FLOATING COUPON MATURITY 20180616 0.67% 40% 60% 80% 100% Percentage of Fixed All performance Y. ©2013 E p estnet All Rights fees (NA.V ). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS S_ ^ TR ST 46 UN 11�U�7 Exchange Traded Fund US Fixed Income Intermediate Term High Yield Firm Overview BlackRock Inc. ( "BlackRock ") was founded in 1988 and is headquartered in New York City, NY. The Firm provides investment management, risk management, advisory services, separate account products, mutual funds, iShares (exchange- traded funds), and other pooled investment vehicles for institutional and retail clients worldwide. On February 15, 2006, BlackRock and Merrill Lynch announced an agreement to merge Merrill Lynch's investment management business, Merrill Lynch Investment Managers, and BlackRock to create a new independent company that will operate under the BlackRock name. Additionally, in December 2009, BlackRock completed its merger with Barclays Global Investors ( "BGI "). BlackRock's ownership structure has no single majority stockholder and has a majority of independent directors. Merrill Lynch & Co., Inc., a wholly -owned subsidiary of Bank of America Corporation, The PNC Financial Services Group, Inc., and Barclays PLC own economic interests in BlackRock Asset Allocation 6/28/2013 approximating 34.1%, 24.6% and 19.9 %, respectively, with the remainder owned by institutional and individual investors, as well as BlackRock employees. Objective The Fund seeks results that correspond generally to the price and yield performance, before fees and expenses, of the US dollar high yield corporate bond market as defined by the iBoxx $ Liquid High Yield Index. The Index is a rules -based index consisting of the most liquid and tradable US dollar- denominated, high yield corporate bonds for sale in the US, as determined by iShares. The number of issues in the Index changes from time to time. Although the Fund will generally invest at least 90% its assets in the securities of the Index, at times it may invest up to 20% of its assets in certain futures, options and swap contracts, cash and cash equivalents, and high yield corporate bonds not included in the Index. This is done when the firm believes these securities will help the Fund track the Index more closely. Region Analysis 6/28/2013 US /Car Eu 98.1% Fixed 1.6% Cash 0 0.3% Other Asia /Ps Latin Am( tada 87.5 % rope 8.5% icific 1.1% ;rica I1 0% 20% 40% 60% 80% 100% Returns through 613012013 Key Facts Benchmark Barclays US Corporate High Yield Minimum Investment Manager Mauro/ Radell Manager Tenure 2.5 Yrs Shareclass Inception 4/2007 Shareclass Assets $13.9 Billion # of Holdings 812 Annual Turnover (2012) 13% Expense Ratio Gross 50 bps Expense Ratio Net 50 bps Website www.ishares.com Phone 800 - 474 -2737 Characteristics 6/28/2013 Duration 4.1 Average Maturity Coupon Percent 7.34 Average Credit Quality B Current Yield All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 47 Exchange Traded Fund US Fixed Income Intermediate Term High Yield Trailing Performance 12 10 8 6 4 2 0 . -2 -4 1 Qtr YTD M ETF NAV Performance 1 Year 3 Year 5 Year 7 Year 10 Year = ETF Mkt Val = BCHY Calendar Performance 60 40 20 0 -20 -40 2012 2011 = ETF NAV Returns through 613012013 2010 2009 2008 2007 M ETF Mkt Val _W BCHY Fixed Sectors 6/28/2013 Fixed - Top Portfolio Holdings 6/28/2013 Securitized 10.1% Corporate Bond Preferred Stock 10.3% Cash & Equivalents 11.7% 0% 20% 40% 60% 80% 100% Percentage of Fixed Portfolio % Sprint Nextel 144A 9% 0.50% Hca 6.5% 0.48% First Data 12.625% Since Springleaf Fin 6.9% Q2 2013 1 Year 3 Year 5 Year 7 Year 10 Year Inception ETF (NAV) (1.87) 7.61 9.79 8.24 0.35% 6.28 ETF (Mkt Val) (2.20) 6.14 9.93 7.93 5.96 Benchmark (1.43) 9.50 10.75 10.94 9.03 8.91 2013 YTD 2012 2011 2010 2009 2008 2007 ETF (NAV) 0.31 13.83 5.89 12.07 40.69 (23.88) ETF (Mkt Val) (0.08) 11.66 6.77 11.89 28.45 (17.37) Benchmark 1.42 15.81 4.98 15.12 58.21 (26.16) 1.87 Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Fixed Sectors 6/28/2013 Fixed - Top Portfolio Holdings 6/28/2013 Securitized 10.1% Corporate Bond Preferred Stock 10.3% Cash & Equivalents 11.7% 0% 20% 40% 60% 80% 100% Percentage of Fixed All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 48 Portfolio % Sprint Nextel 144A 9% 0.50% Hca 6.5% 0.48% First Data 12.625% 0.42% Springleaf Fin 6.9% 0.40% Reynolds Grp Issuer 5.75% 0.39% Ally Finl 8.3% 0.38% Dish Dbs 5.875% 0.38% Icahn Enterprises Lp /Corp 8% 0.37% Samson Invt 144A 9.75% 0.36% Hawk Acquisition Sub 144A 4.25% 0.35% All performance presented is net of fees (NAV unless otherwise indicated). Please see disclosure at the end of this report for additional important information. FOR ONE -ON- � NTR T T ONE PRESENTATIONS ONLY. ©2013 Envestnet. All Rights Reserved. �U1V 11tU51 48 Mutual Fund US Equity Mid Cap Value Firm Overview JPMorgan Investment Management Inc. ( "JPMIM ") is an indirect, wholly -owned subsidiary of JPMorgan Chase & Co. ( "JPM Chase "). JPM Chase, headquartered in New York City, NY, provides investment banking services, financial transaction processing, asset and wealth management, as well as other financial services to institutions and individuals. JPMIM reviews, supervises, and administers each fund's investment program and operates within JPMorgan Asset Management, a division of JPM Chase. Objective The Fund seeks the growth of capital appreciation through a traditional value investment approach. The Fund's investment universe is comprised of medium -sized domestic companies with market capitalizations between $1 billion and $20 billion. Process After an initial market capitalization screen, the research process begins by analyzing company specific factors. The investment team uses a bottom -up approach which bases stock selection on a company's fundamentals, specifically looking for those with solid financials, a viable business plan, and capable management. The research effort draws from proprietary and secondary sources, advisor relationships, trade shows, conferences, site visits, and management meetings. The principal driver of this process is stock selection, as opposed to sector allocation. The Fund seeks to invest in strong but undervalued companies, which have the ability to grow the intrinsic value per share. The team defines strong companies as those that have sustainable competitive positions, low business cyclicality, high returns on invested capital, and proven management. Asset Allocation 5/31/2013 The Fund invests in common stocks and real estate investment trusts (REITs). A stock may be sold due to a change in the company's fundamentals or because of a change in the original reason for purchase. The portfolio managers may also sell a position if new investment opportunities emerge to displace portfolio holdings with less attractive valuations. Personnel Jonathan Simon, CPA, Managing Director, heads the U.S. Equity Value Group and manages this as well as multiple other JPMIM funds. Mr. Simon has been an employee of the firm since 1980, when he started as an analyst in its London office. He joined the New York office in 1983 and became a portfolio manager in 1987. Mr. Simon holds an MA degree in Mathematics from Oxford University. Lawrence Playford, CFA, CPA, a Vice President, has been a Portfolio Manager on the Fund since 2004 after joining the investment team in 2003. Mr. Playford joined the firm in 1993 as a financial analyst. He holds a BA degree in Accounting from the University of Notre Dame and an MBA in Finance from Fordham University. Gloria Fu, a Vice President, is an Analyst and Portfolio Manager on the Fund. Ms. Fu joined the firm in 2002 and became a portfolio manager in 2006. Prior to joining the firm, she was a sell -side analyst at Robertson Stephens. Ms. Fu holds BA and MA degrees in Hotel Administration from Cornell University. Region Analysis 4/30/2013 US /Canada 95.9% Equity 4.1% Cash Unclassified 10.7/ 0% 20% 40% 60% 80% 100% Returns through 613012013 Key Facts Benchmark Russell Midcap Value Minimum Investment $3 Million Manager Team Manager Tenure 10.8 Yrs Shareclass Inception 11/1997 Shareclass Assets $6.6 Billion # of Holdings 107 Annual Turnover (2012) 30% Expense Ratio Gross 102 bps Expense Ratio Net 76 bps Website www.jpmorganchase.com Phone 866- 535 -9248 Characteristics 5/31/2013 Market Cap 9,615.92 3 Year Earnings Growth 17.30 Dividend Yield 1.86% Price To Book 2.09 Price To Earnings 14.18 Price To Sales 1.06 Price To Cash Flow 9.32 Return on Equity 17.55% All performance presented is net of fees (NAV). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS �_ ^UN T S � ONLY. ©2013 Envestnet. All Rights Reserved. Ru 49 Mutual Fund US Equity Mid Cap Value Trailing Performance Calendar Performance Returns through 613012013 30 40 25 20 20 ■ 15 0 - 10 -20 5 0 -40 1 Qtr YTD 1 Year 3 Year 5 Year 7 Year 10 Year 2012 2011 2010 2009 2008 2007 = MF = RMV MF RMV Performance Since Q2 2013 1 Year 3 Year 5 Year 7 Year 10 Year Inception MF 2.35 25.68 20.68 10.40 7.79 10.72 13.08 Benchmark 1.66 27.66 19.53 8.87 6.45 10.92 2013 YTD 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 MF 15.26 20.48 2.42 23.34 26.75 (32.90) 2.83 17.33 9.41 20.99 30.62 Benchmark 16.10 18.51 (1.38) 24.75 34.21 (38.44) (1.42) 20.22 12.65 23.70 38.06 Past performance is no guarantee of future results. Chart is for illustrative purposes only and is not representative of the future performance of any particular portfolio or security. Current performance may be lower or higher than performance data quoted. To obtain performance current to the most recent month end, you may reference the fund's website or call the 800 number located under Key Facts on page one of this document. Equity SectorS 5/31/2013 Materials Information Technology 8 1 Healthcare -I5 Telecommunications 10.3 Consumer Discretionary 21.7 Consumer Staples -4.7 Industrials 10 Financials 26.9 Energy -7 Utilities 8.4 0% 5% 10% 15% 20% 25% 30% Percentage of Equity Equity - Top Portfolio Holdings 5/31/2013 JPMorgan Prime Money Market Inst Loews Corporation Marsh & McLennan Companies, Inc. Ball Corporation Kohl's Corp Ameriprise Financial Inc Analog Devices Inc AutoZone Inc Amphenol Corp Fifth Third Bancorp Portfolio % 4.10% 1.74% 1.65% 1.63% 1.58% 1.52% 1.51% 1.50% 1.45% 1.45% All performance presented is net of fees (NAV). Please see disclosure at the end of this report for additional important information. FOR ONE -ON -ONE PRESENTATIONS l./ii �_ ^UN T S � ONLY. ©2013 Envestnet. All Rights Reserved. Ru 50 ,1o�iG SuNTRuST IV. Appendix All Available Sun Trust Platform Options Disclosures Real Estate SPDR Daw Jon es RE Er RWR ETF Real Estate # -1.36 - 5.50 - 7.87 - 7.40 - 17.78 - 6.91 - 1C.48 - -102 1.06 33.30 0.25 i5h arc s Dow Jon es US Real Estate IYR ETF Real Estate #k* -3.62 - 4.36 - 6.31 - 7.68 - 16.41 - 6.47 - 9.33 - -138 0.59 31.13 141 SPDR Dowlones Intl Real Estate R.WX ETF Global Real Estate Ark #* -5.85 - 45B - 7.17 - 16.53 - 15.55 - 2.42 - - - -2.05 0.65 25.31 0.59 T. Rowe Price REal Estate TRREM Real Estate * -0.85 (3) 5.06 1461 6.1-8 1751 6.64 1671 11.5L 126) 7.43 136) 11.05 (29) D L2 1.06 33.59 0.78 D1USReu1FstateTRUS➢ 8.34 -0 26 0.06 1.00 3L� 2.39 -17.23 0.84 2x54 Natural Resources Freferred Securities RS Global Natural Resouces Y R5NYX Natural Rasources sir *: -1.15 1531 -2.71 1451 -7.93 1521 2.67 1601 8.29 134 -3.30 119) 12.65 124) -9.91 1.24 27.29 1.12 .%aW4rror8h funer,'crrn 1'tr,urol Resor.•rces 9.64 - 182 11.87 -10.74 1.26 27.19 Commodiiies SPDR Gold Share, ETF Commodities PreciDus Metals -25.50 - -28.52 - 23.09 - -25.73 - -1.81 - 4.67 - - - 5d0 0.17 22.07 14C, PIMCO Corrrrodity Real RA Strat Instl PCRIX Commodities Broad Basket # ** -15.25 1931 -15.74 1271 -20.61 1811 -11.00 1731 2.76 124) -9.19 (7) 4.84 (1) -15.' 6 115 25.21 0.74 W UBS Commodity TR USU -0 26 -11.61 2.39 -17.23 0.84 2x54 Freferred Securities !Shares 5&P U.S. Pmferrel Stock In PFF ETF Lang -Tear Bone k# -1.69 - 1.19 - 2.90 - 6.70 - 8.79 - 7.46 - - - -D. id 0.59 25.02 0.48 Pdnaipal F•efertrd Securities Inst PPSIX Long -Tenn Bond k* -1.64 1121 1.21 1101 4.27 1111 1C.OL 1111 10.79 116) 10.43 116) 5.69 (39) 4.04 0.E5 -7.37 0.75 S&P Preferred J&M 1.CO 25.27 1 ntern at! on 21 E q uity - E mergi ng Vanguard FTSE Emerging Markets ETF VWO ETF Diversified Emerging Mkts ** -3.40 - -10.79 - -168 - 1.54 - 3.27 - -0.68 - - - -a 13 1.02 28.44 0.1£ iShares MSCI Emerging Mark --" EEM ETF Diversified Emerging Mkts t# r 8.03 - -10.00 - 1199 - 2.06 - 2.81 - -1.17 - 13.13 (1) -0r81 0.59 27.51 7.69 Dpuen -ieimar Developing Markets Y ODVYX D'nrersified Emerging Mkts * * *T -3.95 (111 -3.78 (191 0.65 1231 7.87 (231 8.13 (7) 5.48 (4) 18.09 (1) 5.50 0.92 26.04 1.03 MSCI rM MR L'SD International Value Equity- Developed Federatec Intl Strategic Val Div Instl IVFIX Foreign Large Value * * * *x -410 1971 0.61 1831 3.04 1991 9.60 1991 11.78 111) 0.80 114) - - '.0l 0.6' _9.42 0.86 MSC1 FAFE tar3eVvlue VR VSD -1.01 211 9 -21 !7.57 4.02 -1.39 6-79 0- 61� International Core Equity - Developed Artisar I nternati or a I Value Investor ARTU Foreign Large Blend * * * ** :.16 (5) 8.79 (1) 16.72 (2) 26.6L (1) 16.43 (1) 9.06 (1) 1'_.07 (1) 9.29 6.77 19.79 1.22 SPDR MSCI KM (ex -US) CWI ETF Foreign Large Blend 1 k# -3.43 - 430 - 5.25 - 12.58 - 7.68 - -0.61 - - - 0.08 1.01 23.3B 0.34 i5hares MSCI EAFE Index EFA ETF Foreign Large Blend #k* -0.93 - 4.13 - 10.91 - 18.56 - 9.92 - -0.68 - 7.54 - -0106 1.CO 22.8B 0.34 Vanguard Developed Markets Irdex Inv VCMIX Foreign Large Blend # * 0.9B 1481 3.38 1321 1120 1201 18.26 1261 10.49 133) -0.45 142) 7.74 (37) 0.30 1.02 23.74 0.20 .Scout International UMB`NX Foreign Large Growth #k #* -1.59 1421 1 ,L8 1471 8.68 1381 16.86 1231 10.82 143) -.80 131) 9.59 (25) 2.30 0.53 21.93 1.00 MFS Research hterrational I MRSUS Foreign Large Blend # ** 0.55 1341 3A3 1311 9.57 1461 1E.98 1431 11.19 116) 0.05 131) 8.68 (19) 0.74 1.00 23.20 0.97 Manning & Narier Wald CppartunitiesA DWAY Foreign Large Blend # # #x -1.23 1581 3.74 1261 9.77 1441 11.41 1371 8.43 174) 0.75 120) 9.67 (7) '.60 1.CO 23.84 1.05 M50 WE NR USO 4.10 1x94 18.62 =4 -0t61 7.67 a W 1.W 22.98 Small Cap Growth !Shares Russell 2000 Growth Index 111'0 ETF Small Growth * ** 3.77 - 17.50 - 18.06 - 23.86 - 20.OL - 8.96 - 9.58 - 0.07 1.CO 27.26 0.25 T. Rowe Price Diversified Sm Cap Growth PRDSl( Small Growth 3.26 1501 16.23 1461 17.8L 1341 24.62 1301 22.61 110) 10.78 119) 10.09 (33) 2.12 0.54 23.05 •7.91 InVesco Small Cap GrovRh RE GTSVX Small Growth * * ** 1.88 1791 15.26 1591 19.21 1151 25.36 1241 20.59 123) 9.88 132) 9.96 (37) _.64 0.89 21.85 0.83 Russell 2t7PP GruWA TP. USD 17. 23.67 19.97 £•d'9 9.62 0.00 1.0 24.28 Please refer to appendix for full disclosure. N Period Ending June 30, 2013. �s�s SUNDIUST Small Cap Core i517AHSRus =- 61120061ndex IWM ETF Small Blend = ** 3.09 - 15.87 - '8.D7 - 24.26 - 18.66 - 8.84 - 9.50 0.04 1.00 24.02 0.23 i5hares Core S&P Small-CapETF IJR ETF Small Blend *k�* 3.98 - 16.26 - '8.83 - 25,24 - 20,20 - 9.87 - 14.66 - 1.'8 0.97 23.52 0.16 Russo-ll2006 rN 05V 3.W 3586 � =1 18.67 S 0..99 1.00 74,07' Small Cap Value i6h are sRusae112006Valuelncex M'PI ETFSmal1VaIue * *# 2.43 14.29 - '7.91 - 24.0 - 17.16 - 8.S1 - S.15 -0r77 1.00 24.24 0.37 All 312CINFJ5mall -Cap Valuelnstl PSVIX SmallVa1ue * * *+rs 0.24 (93) 12.66 (SO) '5.81 1571 22.63 1791 16.44 (53) 3.55 160) 1115 14] 1.55 0.?5 15.09 0.79 PerkinaSmall Cap Value I 1500X: Small'dalce *x 1.20 (84) 12.59 (81) '5.56 1891 '8.52 1921 11,7E (94) K.E5 127) 10,36 1351 3.24 037 15.14 0.89 1+u1_cr 'is IuePartnersSmallCap VVPSX SmallBICrC *s *xx 1.77 (72) 17.82 (16) 23.57 1111 3D.51 1111 23.24 (5) - - - - 1.25 Rid ,=SNorth Small Cap'JRILF - Equityl SCETY SmallB1anc *x * *x 0.0D (93) 11.79 (90) '8.3B 1441 22?? 1591 16.93 (74) 11.11 19) 1210 (4) 3.27 0.87 21.93 1.20 :am )i2rSmall Cap lnstl CA,MZX Small Blend * ** 2.68 (48) 13.87 (76) =9.68 1291 25.85 132E 19AS (28) 11,27 19) - - 3.17 0.94 24.34 1.47 Russ.11 Zt?66'7o1ue 1R SMid Cap Care EatanVanwA .tlarta Capital SMlQCapI EISMX Mid- Cap Guawth *x * *x 2.18 (40) 15.72 (13) 19.75 [51 24,66 1111 21.47 (5) 19.73 11) 12,48 (1] 6.28 1.03 20.73 1.OD Schrader US Small &Mid Cap Opp Inv SMpI}f Mid -Cap GrrnMh * * *+ 2.70 (30) 15.07 (22) 15.98 1331 26,57 1431 15,68 (72) 7,18 134) - - 0.36 0.98 18.73 1.47 Rusself 2500 TR 11517 25.61 19.57 9.2 10.34 1.30 1.21 2313 SMid Cap Value CR615rnaII,141id Cap Value I i rt CRIAY Mid-CapBlend * *x* 053 (901 12.89 (77) ''.2 [681 22.55 [711 14A7 (45) 3.1E 129) - 1.25 1.02 ?7.00 0.88 Russell 2500 VVWue TR t15F 29.37 2688 MM 141 10.15 1.57 120 2.3.0E Mid Cap G nowt h 15hamsRw--- ;IIklidrapGrowthlnlei ILVP ETF Mid- Cap Grouuth * *t 2.83 - 14.60 - '652 - 22.70 - 19.29 - 7.41 - 5.71 - -0.IR 1.00 22.35 0.25 Goldmai 5ach =- Gro%vth Cpporturities Instl GGOIX Mid-Zap Growth * *x* 152 (62) 10.93 (78) '2.82 [711 '857 [611 15.99 (50) 8.54 119) 1C %14 131] 1.D5 0.97 22.06 0.99 Russell Wid C7p GrmA TR I LSD 474 1f G4 'qW61 4.94 ao 1.00 22.38' Mid Cap Core le3•Bridp Mid Cap CareIS LSIRX Mid-Cap Blend * ** 3.18 (19) 14.70 (49) '9.35 1391 26:76 1351 1?.eC (20) 8.15 129) 5.18 1501 0.27 0.95 21.80 0.8' ;F DR S&P I.fidCap 40D IrIBY - TFllid -Cap Blend * *x* 0.96 - 14,43 - '8.46 - 24,67 - 19.11 - R,EB - 10,42 - 0.37 0.99 22.10 0.25 iShares Rus =ell h'idcap hcex I," AFrrlid -Cap Blend * *x* 2.1? - 15.35 - '8.6! - 25.22 - 1 ?.3E - 9,1E - WAS - -0.11 LOG 22.26 0.2_ i5haresCoreS&P NlC -Cep ETF I1H 6TFL1id -Cap Blend * *x* 0.99 - 14.55 - '8.67 - 25.79 - 19.28 - 8.75 - 17.61 - 0.56 0.99 22.11 0.'5 Russefr Wid Cup TH U50 2.21 15.45 19.17 25A1 19-0 � � 0.00 1.00 22JI Mid Cap Valu e SharesRus_ IIMidcapl+alualrcex IMs ETFrdid -Cap Value * #x+ 1.59 - 15.97 - 2D.45 - 27.36 - 2 ?.2E - 9,13 - 1015 - -0.12 1.00 22.63 0.28 RSVDILCY R5NX Mid -Cap Blend *s 2.56 (33) 18.09 (13) 23.44 1141 3'31 1131 102 (83) !.6E 183) 11.02 191 3.!9 0.96 22.76 1.04 Rid ; etNorthMid -Cap ValueEquity I SIATX Mid-Cap Value * *x+ 13D (33) 12.6D (89) '9.34 1601 21.15 1421 1755 (59) 12,21 14) 12.11 121 3.48 0.91 2112 1.07 1PIdlorgan Mid Cap lralua lrstl FLMVX Mid -Cap Value + * * «* 2.35 (53) 15.26 (60) '_85) 1701 25,68 1611 2.7.68 (7) 1140 121) 14.72 1221 2.42 0.84 15.23 0.76 Russell Wid Cup LA-Le TR 1150 M I.65 I&JO 20.65 274 OA0 1.00 22 YO Please refer to appendix for full disclosure. Period Ending June 30, 2013. SuNTRUST 52 Large Cap Growth i5hares Russell 10D6 Growth Index IWF ETF Large Gro•vth * * ** 2:32 - _1.73 - _0.18 - 16.84 - 18.44 7.29 7.21 - -0.16 1.CO ' 8155 12C Victory Large Cap Growth I Vi Large Growtn *x -OA9 (95) 7.03 (94) 2.30 (98) 8.19 (98) 14.58 (80) 3.19 183) - - -3.94 1.CO '9.49 135 T. 20+,ce Price Instl Large Cap Growth Tl Large Growth * * ** 4.45 151 '3.19 (18) '2.59 (27) 19.36 (30) 18.86 (13) 8.85 110) 8.30 119) 0.76 1.12 21.31 3.57 Ridg21Vorth Large Cap Growth Stock I STCAX Large Growth +x* MB 187) 6.69 (95) 5.20 (93) 11.92 (90) 17.48 (33) 6.35 138) 5.92 177) -1.27 1.C5 -9.83 11 Harbor Capital Appreciation Instl HACA?( Large Growth * * ** 2.35 136) 9.43 (71) 8.09 (71) 14.16 (76) 16.74 (47) 6.85 129) 1.78 129) -0.35 0.57 - 8.35 •).BE Calvert Equity I CEYIX Large Growth *rx •7.97 (80) 9.99 (64) -0.19 (47) 16.89 (51) 16.33 (53) 6,4? 135) 7.11 147) -0.84 0.59 - &93 •7.5E ASTON /Morrtag & Caldwell Growth I h1CGIX Large Growth * * ** •7.42 (88) '0.65 (55) 8.80 (63) 15.63 (55) 15.79 (63) 5.69 148) 6.85 154) -0.90 0.E7 -b.41 151 Russell 1300 C-th TR U� ]1.80 ]0.33 IZ07 18.69 7.47 7.40 0.00 1.00 Large Cap Care ClearBridge Appreciation I SAM Large Blenc * *r ** 2.33 (63) '2.82 (68) -1.58 (77) 19.05 (71) 17.14 (46) 6.86 129) 7.82 124) 0.62 0.85 -5.79 166 SPDR S &P 500 SPY ETF Large Blend * * ** 2.34 - ' 3.76 - '331) - 20.44 - 18.32 - 6.93 - 7.20 - -0.06 1.00 '&37 1M i5hares Russell 10D0lndex IWB ETF Large Blend * * ** 2.62 - _3.83 - _193 - 21.09 - 18.46 - 7.02 - 7.55 - -0.09 1.92 '8.80 0.1E i5hares Core 5&P SOD ETF i ETF Large Blend * * ** 2.90 - '3.79 - '3.35 - 20.52 - 18.34 - 6.96 - 7.23 - -0.04 I.CO '8.39 0:77 VangumdlnAltutionallncexI VINR{ Large Blenc * * ** 2.91 (35) '3.81 [41) -338 (52) 20.51 (49) 18.43 (18) 7.04 1241 7.30 1351 0.03 I.CO ' 8.41 3.M Vanguard 5001rdexSignal VIFSX Large Blend * * ** 2.90 (36) '18D (41) -3.36 (53) 20.55 (50) 18.42 (18) 7.03 124) 7.25 137) 0.02 1.CO ' 8,41 D:35 Vaiguard5001rdexInv VFINX Large Blend * * ** 2.37 (37) '3.74 (43) -3.27 (55) 20.42 (51) 18.28 (21) 6.91 127) 7.18 141) -0.09 1.CO -&41 •117 Vanguard 5001rdexAdmiral VHAX Large Blend * * ** 230 (36) '3.81 (41) -3.36 (53) 20.55 (49) 18.42 (18) 7.03 124) 7.28 135) 0.02 1.CO &42 D:35 JPMorganUS Equity lnstl 1MUEX Large Blenc * * * ** 3.70 (18) '4,63 (25) 15.27 (23) 23.38 (22) 17.97 (28) 8.20 (9) 8.46 115) 1.06 1.C1 &75 164 5&R 500 712 USD 2A3 33. 20.60 18.45 7.01 All OAR 3. Large Cap Value SPDRS &P Dividend SM ETF Large Value * *rx* 1.21 - '5.6D - '6.83 - 22.91 - 17.47 - 12.45 - - -- 6A9 O.El 17.52 0.35 i5hares 11000 Value Index IWD ETF Large Value *rr 3.11 - '5.75 - '7.46 - 25.02 - 18.26 - 6.53 - 1.63 150) -0.12 1.CO -9.59 •7.2C i5hares DowJone5 to ect D'vidend Index DVY ETF Mid -Cap Value * * ** 1.15 - '3.75 - _4.03 - 1 &15 - 18.93 - 9.59 - - -- 3.89 0.81 _7.68 14C Financial Select5ec- o-EPDR XLF ETF Financial ** 7.14 - _9.36 - 26.35 - 35.05 - 13.91 - 1.27 - -0.12 -- -6.03 1.45 30.59 •7.19 RidgeWorth Large Cap Vail- Equity I STVTX Large Value * * ** 3.11 (58) _4,36 [69) _7.48 (31) 25.18 (31) 17.67 (37) 8A7 119) 8.67 113) 2.06 0.52 _ 8.33 •185 Hart'ard Dividend & Groveth Y Hill Large Value * * *k 3.86 (36) 'S .01 (49) -5.48 (57) 21.63 (64) 17.20 (47) 1 139) 8.59 116) 0.69 0.89 '7.63 3.65 Federated Strategic ValueDividendlnstl SVAIX Large Value * * ** 1.52 1S8) '1.013 (96) 9.20 (97) 12.88 (97) 17.34 (44) 7.76 122) - - 3A7 0.58 '3.46 0.81 JHancock3 Disciplined Value I JVLLK Large Value * *v ** 5.73 [51 '7.27 (12) -M2 (19) 2&1D (12) 19.38 191 9A4 (5) 9.54 (5) 2.83 4.55 -&86 0.88 Russel 1000 Vlriue TR USP 35.90 �7. 1.00 19.64' Al 51raiegies AbaoltteStrategies I A5FIx Multi altemative * * *+r 153 (13) 1.99 (31) D.44 (66) 1.07 (79) 2.80 (60) 2.70 117) - - 0.67 0.24 6.03 1.73 Wasatch Long /Short Investor FMLSX Long /Short Equity * * ** -D.13 (72) 9.05 (30) -1.47 (18) 16.95 (16) 11.88 (23) 6.42 124) - - 1.20 0.71 '4,47 1.27 Aberdeen Equity Long -Snort Inst GGUIX Long /Short Equity +rx* 1133 (50) 5.41 (54) 6.55 (45) 8.63 (49) 4.72 (55) 0.91 174) 4.97 145) -1.52 0.29 6.63 1.26 Blacki Global Long /Short Credit Inst1 BGCB( Nontraditional Bond - -0.04 114) 0.9� (25) 3.44 (15) 5.82 (21) - - - -- - - 1.31 Osterweis Strategic Ircome OSTIX Multisector Bond * * ** -0.18 161 2.69 15) 4.96 (12) 7.45 (23) 7,49 (34) 8.00 137) 7.22 117) 4.04 0.32 4.70 093 International Bonds - Emerging Markets Goldman Sachs Local Emrg Mkts Debt Instl GIMDX Emerging Markets Bond r -7.68 175) -7.98 (50) -3.59 (34) 2.13 (41) 6.01 (51) 4.13 189) - - -2.51 1.C3 '6.26 191 I'll Emerging local Bond InAl PELE?L Emerging Markets Band ** -8.70 192) -8.86 (83) -549 (81) -1.32 (87) 5.16 175) 6.61 170) - - -0.27 1.C4 'b.U4 U.K 1RM GB1 EM Ml bul Diversified -�'+t -332 6.71 ia2� 1. GO 1527 International Bonds - Developed I'll Foreign Bond 1USD-Hedgedl I PFORX World Bond * * ** -3.01 (31) -1.53 (15) D.33 (14) 5.39 (6) 5.83 (15) 8.21 (3) 5.49 (17) 556 0.52 4.85 0.5C I'll Foreign Bond 1Unhedged) I PFUO( World Banc *** -0.83 (79) -8.57 (96) -10.34 (96) - 3.72 (85) 5.30 (M) 5.68 130) - - 251 0.78 11,2t 0.5C JPM G5i Gfobvl 7R Hdg USD Please refer to appendix for full disclosure. Period Ending June 30, 2013. SuNTRuST 53 Global Bonds Templetor Global Bond Acv TGBAX World Band is * ** -2.73 122) -1.36 (121 2.42 (3) 7.95 12) 5.84 (91 9.63 111 9.24 (1) E.42 0.8L 9.64 4.65 PINCC Clocal 3ona (USD- Hedgedj I PGBI.K World Band t tt* -3.18 136) -2.10 (251 -0.8S (30) 3.25 (231 5.5° (16) 7.27 (12) 5.53 130) 533 Db4 A7 0.55 Bamlan Glooar Aggregate TR USO -2.79 4.833 -5.28 -2. IM 3.55 3.68 4.19 0.00 1.00 High Yield Bonds Neuberger Berman High Income Bond Instl NHILX High Yield Bond tt* '.39 143) 1.15 (461 4.22 (50) 8.70 (521 5.86 (49) 1_.22 [4] 7.89 (35) 1.62 0.86 _2.11 0.70 Ridge lDrIth High Inoome I STHTX High Yield Bond +t *+r ** '.29 135) 1.81 (261 5.88 (17) .61 (211 10.91 (13) 14.70 1111 9.22 (2) -.36 0.95 ' 3.85 0.77 RidgeN'orth Seix High Yield I SAMHX High Yield Bond t ** '.49 153) 0.96 (561 4.97 (30) 9.50 (351 3.93 (36) 8.52 (59) 6.72 183) -0Z5 0.78 '1.17 0.57 i5hvas iBoxx $ High 1'ieL Co•corate Bd HYG ETF High Yield Bord ** ..87 - 0.31 - 3.45 - 7.61 - 5.75 - 8.24 - - -2.20 0.98 _33t 0.50 Brmlan W Cnrpora,e Hl;h Y,'e1d -1.44 1.41 4.75 149 (7� 10..94 A91 woo 1,00 1191 Bank Loans Powar$nares Senior Loan Port BKLN ETF Bank Loa - -0.38 - 1.64 - 2.88 - 6.70 - - - - - - 0.66 Ridgeal'.rth Seix FlDating RT High Inc I SAMBX Bank Loan x t+r* C.02 147) 2.03 (561 3.85 (41) 6.97 (341 E.95 (35) 5.23 (34) - - 2.29 0.67 8.58 0.52 Eaton'uan-e Floating Rate I FIBLX Bank Loan # #+ -0.0' 149) 2.01 (601 3.47 (62) 6.12 (671 6.23 (63) 5.12 (33) 4.34 149) 1.5E 0.86 ' �,.78 0.77 A4omirwsfar Oardr Loon P.W 0.05 2.31 391 7.22 7.17 3.91 398 laix IM IZ50ANNim Inflation Protected Shares Barclays TIPS Band TIP ETF InHatior- Protected Bond * tt* -6.99 - -1.42 - -6.82 - -4.E6 - ME - 4.26 - - - -0.14 1.00 7. ED 0.20 PIMCCI -5 Year US TIPS Indaz7F STPZ ETF InHation- Prote-cta -d Bond * -2.89 - -2.50 - -2.15 - -1.13 - 2.06 - - - - - 0.20 haRln,r- USTreaswy L'S TIPS QS -739 -f 75 -478 d63 441 519 0.00 1110 - Domestic Long Tenn Bond Loomis Saylas 3ona Insd LSBDX k'IultisectarBond * * ** -'-.39 123) 0.85 (231 3.94 (19) 8.88 (161 R.5B (12) 8.27 (30) 8.40 111) 5.26 0.38 ' 2.32 0.53 Va °guard Lo -g -Term 3ond Index ETF BLV ETF Long -Term Bond * ** -6.217 - -1.69 - -7.5E -- -4.75 - 6.K, - 8.L7 - - - -0.16 1.D1 ' 1.8L 0.10 gorrlan US Govt/CredALaw TH USO AM -791 -7.56 A69 7.01 8.50 621 LLOO 1. OD IL65 _ Domestic Intermediate Bond PIMCO Inve,-ment Grade Corp Bd imtl PIGIX Intermediate -Tew Bond * * # ** -4.29 199) -2.1t (861 -0.94 (23) 3.58 19) 7.93, (11 9.97 111 7.06 (1) 2.35 1.47 7.21 _ 0.50 JPMorgan Government Bond Sele:t HLGAX Intermediate Government * * * ** -2.8' 131) -2.62 (621 -2.54 (36) -1.52 (391 1K (61 5.15 (10) 4.79 (6) -0.07 1.07 t.52 0.!9 PIN CC Total Retain Intel PTMR Intermediate -Tear Bond * *+r♦* -3.60 194) -102 (311 -1.85 (52) 1.20 (3$1 4.67 (35) 7.26 (14) 5.97 (5) 2.39 0.92 t.4' 0.16 RidgeWErth Total Return Bond I SAMFX Intermediate -Terry Bond t tt* -2.50 137) -2.85 (721 -2.52 (79) -D. ED (771 2.73 (63) 631 (32) SAG 126) 1.21 0.97 3.87 0.39 Ridgeal'arth ;are Bond Fund I STIGX Interediate -Tear Bond * ** -2.53 139) -2.65 (601 -2.55 (80) -1.:9 (831 12:, (30) 6.DI] (40) 4.8_ 133) :1.02 1.16 t.64 0.39 Ridgeul'orth Irnerrrediate Bond I SAMIr. Intenredlate-Terrr Bond * --.82 110) -1.57 (151 -i.G2 (34) -0.14 (661 2.54 (92) 5:)6 (69) 4.36 152) 0.87 0.80 3.24 0.35 Varguard Total Bord Market Irdex I )7BTIX Inte mediate -Tear Bond ** -2.42 136) -2.48 (491 -2.35 (72) -0.E3 (821 2.42 (73) 5.18 (65) 4.54 144) -D.r4 1.01 3.78 0.37 Varguand Total Bord Market Irdex Sig ral VBTSA Interrediate -Tear Bond * ** -2.42 13D) -2.48 (501 -2.36 (73) -0.B5 (321 1.4C, (74) 5.14 (66) 4.47 146) -0.07 1.01 3.78 0.10 Shar_s Barclays 2- 7YearTreas -ry ?one El ETF Intermediate Govemmert * ** -2.06 - -1.88 - -1.9 Q - -1..8 - 2.92 - 4154 - - - '.51 0.76 3.97 0.15 Shares Core Total US Bord Market ETF AGG ETF Intermediate -Term Bond * ** -2.42 - -2.52 - -2.32 - -0.E4 - 2.25 - 438 - - - -0.26 1.01 3.8' U.]8 Shares iBoxx $ Invest Grade Corp Bond LQD ETF LDrg -Term Bond ** -4.39 - -7.93 - -3.85 - 0.50 - 6.01 - 7.30 - 4.93 - -2.116 2.05 9.18 0.15 Va °guard Total Bo -d Varket ETF BND ETF Intermediate -Term Bond * ** -2.43 - -2.46 - -2.35 - -0.E5 - 335 - 5.11 - - -D.1D 1.D1 3.77 0.10 Ba-;la, W Ag; Bord TR V50 -2.32 -1.44 3151 Mmr� 4.52 u06 1A0 3.73 - Please refer to appendix for full disclosure. Period Ending June 30, 2013. �ill111 SUNTRUST 54 Mortgage Bonds Oesterr Asset Mxtgage Backed5ec I 565n InterrceciatR-Term Borc *_ * ** 2.--8 111 3.13 (11 5.10 (11 7.97 (1) E.ss 14) 7,55 11M E,29 1191 5,42 0.35 2.59 0.67 Doublel-ine Total Return BarC I CBLTX Interrceciate -Term Borc * * * ** -1,59 171 43L (41 0A5 (71 3.94 (6) 8.71 11) - - - - 423 0.51 RidgeVnorthLtd- TermFeceralMortg Secs I SLMTX IntermeoiatF�uowernment x ** -2.46 1621 -2,35 (361 -2,5L (351 -1,L2 (34) 2.75 128) 4,91 122) 3,7E 1481 1,41 0.66 2.96 0.67 Vanguard Mortgage- 53.1ked5ec Idx5ignal VMM Intermediate Term Borc * -1,52 1131 -1,91 (2141 -2,31 (701 -1,07 (68) 2.44 193) - - - - 2,36 0.12 iqare=_ 33 clays MBS Bond MBH F1F1ntermediat?Terrr Band *x 2,24 - -2,17 - 4,17 - -1." - 2.11 - 4,47 - - - lk� 0.63 2.88 0.27 B'ordup 05 k7? Bond rR USE) OA3 - 1.82 - 2,28 - -2.24 - -0.69 11111�1 '.9' .00 3.73 SHY Dernestic Short Term Bonds = *+ •C,12 - 0;16 - -0,02 0.20 - G.70 - 1,77 - 2,47 RIMCO LaaK DuratlDi listl PTLEX Siort-T2-n Bond *_ * +* -1.25 1SR1 -143 (661 -),R7 (B01 1.33 (47) 2.82 172) 4,24 117) 3,8E 1101 2,61 0.20 3.86 0A6 RidgeVacrth SinI -Tarn Bond I SSFY S1ort-Term Bond = *+ -C,42 1221 423 (391 411 (521 0.86 (60) 1.67 167) 2,72 164) 2,93 1491 2,46 0.03 2.54 0A8 i5Fa re; - 3a-cIBys 1.3 faa•Crecit Bond CSl 3TF Short-Term Bcrc = *+ •C,2s - 0.00 - 0.35 - 1.58 - 2.14 - 2,36 - - - 2,78 0.14 2.88 0.20 Vanguard Short-Term Bcrc :TF vi 3TF Short-Term Borc = *+ -C.22 - 455 - -O,"-0 OA3 - 1.82 - 2,28 - - - 0,7s 0.86 '.9' 0.10 i5ha re; - Barclays 1 -3 Vea•Treasury Bond SHY TF Short Sawwnment = *+ •C,12 - 0;16 - -0,02 0.20 - G.70 - 1,77 - 2,47 [1) 4,02 0.58 '-.'-2 0.15 Vanguard Short-Term GD%t Bd Idx ETF VGSH ETF Short Government = ** -C,15 - -7r }5 - 0.01 - 0.23 - 0.74 - - - - - 0.12 IBmdogs GauemwAr 1 -5 Y, T R 11SD -0.65 A249 -043 0.02 WX 1.00 1.78 Dernestir Ulira Short Bond SPDR Barclays' 2 Month T -Bill BIL ETF Ultrashort Bond *_ -C,C1 - -0;73 - -].33 - -0,0"- - -4.03 - C,, 14 - - - -0.03 -0.0' 0.'4 0.13 RidgeVacrth US Gov Sec Ultra-Short Bd I SICA Ultrashort Band *_ * +# •C,22 1611 0;76 (551 -116 (301 0.53 (62) 1.24 146) 2,31 113) 2,83 (1] 1,66 0.15 0.75 0.39 RidgeViorth Ultra -Short Bond I 5155X: Ultrashort Band * *** -0,21 1701 -7;75 (541 0.21 (501 0.87 (42) 1.22 148) 192 131) 2,E2 191 -0.33 0.75 '.98 0.34 PIMCO Short-Term Insd PTSHX: Ultrashort Band * * * ** -CA4 (821 -7;76 (561 0A0 (231 1A? (16) 1.58 121) 2,42 17) 2,76 [3] CAS 0.63 2.'9 0A5 Goldman Sach = 3nian -cc Income Instl GEIIX Ultrashort Band * *+ d,,17 1431 0.08 (361 0.22 (451 0.76 (51) 0.62 165) 1,37 153) 2,15 1381 0.20 0.50 '.07 0.35 Fecerated Ult-as iort Bond Instl FULIX Ultrashort Bard * * * ** -C,42 1311 -7,77 (571 0.35 (291 1.35 (201 1.82 114) 267 12) 2,59 (6] 0,60 0.6? '.78 0.36 FccErated CT Ultrashort Duration Instl FGUSX Ultrashort Borc * *+ -C,12 1341 •7,7% (521 - ,);.7 -' (731 0.19 (M) C.41 177) 0.22 175) 2.07 1461 0.20 0.1? 0.57 0.25 Federated Adjustode Rate SacsInstl FEUGX Shxt Government * *+ {•48 1341 -1,Ll (231 -160 (301 0.02 (23) 0•.71 166) 1,51 166) 2,58 1511 0,36 0.49 1.21 0.64 gardoys 5G?8I -3 v GvrzQ%1 -3Y crp TR tw 13 1.70 100 I.59 Money Market Fecerated Prime Obligatiors Instl POW Money Market Taxable 0.02 171 0.04 (71 0.0? (61 0.11 (6) 0.1E 14) 0,47 13) MS [4] 0,20 0.00 0.2' 0.20 Fecerated Treasure Obligs I7 = -tl TDI%X MOneV Market Taxable 0.00 1351 0.00 (361 0.01 (411 0.01 (40) 0.01 140) 0.14 169) 1,5. 1361 0.06 0.00 0." 0.20 Gtl T remL y 13013 Man UX 4.42 0.03 M 0.06 0.09 0.13 1.63 aW 0.00 0.12 Please refer to appendix for full disclosure. 55 Period Ending June 30, 2013. SuNTRUST Important Disclosures SunTrust Private Wealth Management is a marketing name used by SunTrust Banks, Inc. and the following affiliates: Banking and trust products and services are provided by SunTrust Bank. Securities, insurance (including annuities and certain life insurance products) and other investment products and services are offered by SunTrust Investment Services, Inc., a SEC registered broker /dealer and a member of the FINRA and SIPC. Other insurance products and services are offered by SunTrust Insurance Services, Inc., a licensed insurance agency. Investment advisory products and services are offered by SunTrust Investment Services, Inc. and GenSpring Family Offices, LLC (f /k/a Asset Management Advisors, L.L.C.), investment advisers registered with the SEC. SunTrust Investment Services, Inc., SunTrust Bank, their affiliates, and the directors, officers, employees and agents of SunTrust Investment Services, Inc., SunTrust Bank and their affiliates (collectively, "SunTrust ") are not permitted to give legal or tax advice. While SunTrust can assist clients in the areas of estate and financial planning, only an attorney can draft legal documents and provide legal services and advice. Clients of SunTrust Investment Services, Inc., SunTrust Bank and their affiliates should consult with their legal and tax advisors prior to entering into any financial transaction or estate plan. If included as a part of the presentation, any Baseline Financial Services, Inc. (Baseline), or Crandall, Pierce & Company (Crandall Pierce), or First Rate (First Rate) statistical data is provided as a service of SunTrust Banks, Inc. and its affiliates (including SunTrust Investment Services, Inc.) by Baseline, Crandall Pierce or First Rate, all of which are unaffiliated third party vendors. While this information is believed to be accurate, SunTrust Banks, Inc., including its affiliates, does not guarantee the accuracy, completeness or timeliness of, or otherwise endorse these analyses or market data. Securities and Insurance Products and Services: • Are not FDIC or any other Government Agency Insured • Are not Bank Guaranteed • May Lose Value .r SuNT uST Important Disclosures Asset Allocation does not assure a profit or protect against loss in declining financial markets Emerging Markets: Investing in the securities of such companies and countries involves certain considerations not usually associated with investing in developed countries, including unstable political and economic conditions, adverse geopolitical developments, price volatility, lack of liquidity, and fluctuations in currency exchange rates. Fixed Income Securities are subject to interest rate risk, credit risk, prepayment risk, market risk, and reinvestment risk. Fixed Income Securities, if held to maturity, may provide a fixed rate of return and a fixed principal value. Fixed Income Securities prices fluctuate and when redeemed, may be worth more or less than their original cost. Hedge funds may involve a high degree of risk, often engage in leveraging and other speculative investment practices that may increase the risk of investment loss, can be highly illiquid, are not required to provide periodic pricing or valuation information to investors, may involve complex tax structures and delays in distributing important tax information, are not subject to the same regulatory requirements as mutual funds often charge high fees which may offset any trading profits, and in many cases the underlying investments are not transparent and are known only to the investment manager. High Yield Fixed Income Investments, also known as junk bonds, are considered speculative, involve greater risk of default and tend to be more volatile than investment grade fixed income securities. International investing entails greater risk, as well as greater potential rewards compared to U.S. investing. These risks include potential economic uncertainties of foreign countries as well as the risk of currency fluctuations. These risks are magnified in emerging market countries, since these countries may have relatively unstable governments and less established markets and economies. Investing in smaller companies involves greater risks not associated with investing in more established companies, such as business risk, significant stock price fluctuations, and illiquidity. Managed Futures and commodity investing involve a high degree of risk and are not suitable for all investors. Investors could lose a substantial amount of money in a very short period of time. The amount you may lose is potentially unlimited and can exceed the amount you originally deposit with your broker. This is because trading security futures is highly leveraged, with a relatively small amount of money controlling assets having a much greater value. 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SuNT uST Important Disclosures BarCap Aggregate Bond Index: The broadest measure of the taxable U.S. bond market, including most Treasury, agency, corporate, mortgage- backed, asset - backed, and international dollar- denominated issues, all with investment -grade ratings (rated Baa3 or above by Moody's) and maturities of one year or more. BarCap US Corporate High Yield: The U.S. Corporate High -Yield Index the covers the USD- denominated, non - investment grade, fixed - rate, taxable corporate bond market. Securities are classified as high -yield if the middle rating of Moody's, Fitch, and S &P is Bat /BB + /BB+ or below. The index excludes Emerging Markets debt. BarCap US Treasury Long Index: includes public obligations of the US Treasury with maturities of 10 years or more. CBOE VIX: The CBOE Volatility Index° is a key measure of market expectations of near -term volatility conveyed by S &P 500 stock index option prices. Since its introduction in 1993, VIX has been considered by many to be the world's premier barometer of investor sentiment and market volatility. VIX is often referred to as the "investor fear gauge ". Dow Jones Wilshire RESI Index: designed to provide measures of real estate securities that serve as proxies for direct real estate investing, in part by excluding securities whose value is not always closely tied to the value of the underlying real estate. To be included, a company must be both an equity owner and operator of commercial and /or residential real estate. A company must have a minimum total market capitalization of at least $200 million at the time of its inclusion, and at least 75% of the company's total revenue must be derived from the ownership and operation of real estate assets MSCI All- Country World ex -US Index: is a free float- adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets, ex -US equities. MSCI All Country World Index: is a free float- adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. MSCI EAFE Index: The MSCI EAFE Index® comprises 21 MSCI country indices, representing the developed markets outside of North America: Europe, Australasia and the Far East. MSCI Emerging Markets Index: is a free float- adjusted market capitalization index that is designed to measure equity market performance of emerging markets. As of May 27, 2010 the index consisted of the following 21 emerging market country indices: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Morocco, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand, and Turkey. Note: Indexes are unmanaged. An investor cannot invest directly in an index. They are shown for illustrative purposes only and do not represent the performance of any specific investment. SuNTRUST Important Disclosures The MSCI Europe Index is a free float- adjusted market capitalization weighted index that is designed to measure the equity market performance of the developed markets in Europe. As of June 2007, the Index consisted of the following 16 developed market country indices: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. Russell 2000 Index: is comprised of 2000 smaller company stocks and is generally used as a measure of small -cap stock performance. S &P 500 Index: The S &P 500 Index is comprised of 500widely -held securities considered to be representative of the stock market in general. S &P Equal Weight Index (S &P EWI). The index is the equal- weight version of the widely regarded S &P 500. The index has the same constituents as the capitalization weighted S &P 500, but each company in the index is allocated a fixed weight of 0.20% at each quarterly rebalancing Barclays U.S. Municipal Index: covers the USD- denominated long -term tax exempt bond market. The index has four main sectors: state and local general obligation bonds, revenue bonds, insured bonds, and pre- refunded bonds. DJ -UBS Commodity Index is composed of futures contracts on physical commodities. It currently includes 19 commodity futures in seven sectors. The weightings of the commodities are calculated in accordance with rules that ensure that the relative proportion of each of the underlying individual commodities reflects its global economic significance and market liquidity. MSCI BRIC Index is a free float- adjusted market capitalization weighted index that is designed to measure the equity market performance of the following four emerging market country indices: Brazil, Russia, India and China. The MSCI AC (All Country) Asia ex Japan Index is a free float- adjusted market capitalization weighted index that is designed to measure the equity market performance of Asia, excluding Japan. As of March2009 the Index consisted of the following 10 developed and emerging market country indices: China, Hong Kong, India, Indonesia, Korea, Malaysia, Philippines, Singapore, Taiwan, and Thailand MSCI Germany: every listed security in the market is identified. Securities are free float adjusted, classified in accordance with the Global Industry Classification Standard (GICSO), and screened by size, liquidity and minimum free float. Note: Indexes are unmanaged. An investor cannot invest directly in an index. They are shown for illustrative purposes only and do not represent the performance of any specific investment. SuNTRUST