STRATEGIES SUMMARY. Quarterly Portfolio Recommendations. Save The Date Quarterly Investment Review

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1 STRATEGIES SUMMARY Quarterly Portfolio Recommendations Save The Date Quarterly Investment Review The Quarterly Investment Review will be pre-recorded. You will be able to download the multimedia presentation at any time, 24 hours a day, 7 days a week. Further information and additional details will be posted on our website in the coming weeks.

2 Table Of Contents What's New 1 About This Report 2 SEI Investment Philosophy 3 SEI Goals-Based Strategy Allocations Summary Private Client 4 GoalLink Fund-of-Funds 6 SEI Tax-Sensitive Strategy Allocations Summary 7 SEI Institutional Strategy Allocations Summary 7 SEI Fund Managers 8 SEI Strategies for the Third Quarter of 2014

3 Are You Getting These Important Communications? What s SEI: Monthly electronic newsletter delivered to your inbox during the third week of every month. Quarterly Investment Review: Available the 3rd Thursday after quarter end and ed out / posted to our website in the Marketing > Quarterly Investment Review section. If applicable, please obtain Broker-Dealer approval prior to using these communications. Information provided by SEI Investments Distribution Corporation, a wholly owned subsidiary of SEI Investments Company. For Financial Intermediary Use Only. Not for Public Distribution. SEI Strategies for the Third Quarter of 2014, page 1

4 About This Report Prior to the beginning of each new quarter, SEI produces Strategies to outline SEI s quarterly recommendations for each of its Asset Allocation Strategies. The report begins with a brief summary of SEI s Investment Philosophy, which discusses the six key components to our approach: asset allocation, portfolio design, investment manager selection, portfolio structure and management, tax management, and risk management. For each investor s account, it is the responsibility of the Investment Professional, not SEI, to communicate any changes to the Strategy's allocation, and if required, obtain the investor s consent to implement the recommendations contained in this report. If you have questions about the information contained in this report, please call one of our Asset Management Service Representatives toll-free at SEI.9660 ( ). The remaining pages of the report are dedicated to Asset Allocation Strategies. A chart for each Strategy outlines its blended expense ratio, the total asset allocation percentage, and its specific underlying Fund weightings for the quarter. Participating Fund Managers and total securities held are also displayed. Product sheets containing each Strategy s objective, structure, allocation, and a listing of the sub-advisors can be obtained on Click on Solutions>Strategies and then choose the appropriate Asset Allocation Portfolio. The Product Sheet link can be found on the right hand side, under Additional Information. For those SEI Funds which employ the manager of managers structure, SEI Investments Management Corporation has ultimate responsibility for the investment performance of the Fund due to its responsibility to oversee the sub-advisors and recommend their hiring, termination, and replacement. Mutual Fund shares are not insured by the FDIC or any other agency, are not guaranteed by any financial institution, and involve investment risks, including possible loss of principal. Strategies must be preceded or accompanied by a current prospectus for each Fund. Investors should read each prospectus carefully before investing. SEI Investments Distribution Co., the distributor of the Funds, is located in Oaks, Pennsylvania, SEI Strategies for the Third Quarter of 2014, page 2

5 SEI Investment Philosophy SEI is an active, global investment manager delivering consistent long-term performance through complete and uniquely constructed asset allocation strategies. With over 40 years of investment consulting and management experience, as of March 31, 2014, SEI manages over $239 billion for all types of investors. SEI believes that successful investing is defined by helping investors determine and meet their investment objectives. Our research-based investment philosophy is founded on six key principles: asset allocation, portfolio design, investment manager selection, portfolio structure and management, tax management, and risk management. We believe that the application of this philosophy will add value by enhancing returns and reducing risk, thereby increasing the likelihood of investors achieving their goals. ASSET ALLOCATION Asset allocation is the central theme of the SEI investment philosophy and a major factor in determining total strategy return. Studies have shown that asset allocation decisions account for more than 90% of the variation of total returns, while security selection accounts for most of the remainder. Therefore, an important determinant of the success of an investment strategy is not which securities or mutual funds were bought or sold, but how the assets were divided among the various asset classes. PORTFOLIO DESIGN To access the return potential of the financial markets and reduce risk, a strategy should be diversified by asset class (stocks and bonds), investment style (growth and value), and capitalization (large, mid, small), among others. As part of this process, we identify alpha sources, or returns in excess of benchmark returns, that have demonstrated staying power over the long term across multiple markets in a given geographic region. Alpha sources are classified into four broad categories, allowing us to create portfolios that are not simply diversified between equity and fixed-income strategies, but diversified across the underlying drivers of alpha. INVESTMENT MANAGER SELECTION To implement these asset management strategies, SEI utilizes a global network of specialist managers who invest in distinct sectors of the markets. Specialists who adhere to a specific investment discipline, such as large-company growth managers, have an opportunity to hone their approaches and to anticipate changes within their areas of the market, thus generating additional alpha. This focus provides the opportunity for greater consistency and predictability of results. The use of specialist managers is consistent with our view on diversification across and within asset classes. By selecting experts in the various sectors and styles, we work towards full coverage of the markets, which helps us to maintain the targeted allocation to stocks, bonds, and cash. PORTFOLIO STRUCTURE AND MANAGEMENT Strategy management is continuous. Once needs are defined, a plan developed, and strategy implemented, an ongoing confirmation and re-evaluation takes place. There are two critical components of this process. First, each strategy is rebalanced regularly to assure that we maintain the predefined mix of assets. We rebalance to reduce risk and keep the investment plan on the right course. Second, we constantly rehire the managers in our global network in our quest for new alpha. Each manager is continually monitored and is subject to replacement should it fail to achieve its goals or deviate from its philosophy or process. TAX MANAGEMENT For taxable investors, failing to factor in taxes can significantly reduce an investor's chance of meeting his or her financial objectives. In the mid-1990s, SEI completed innovative, groundbreaking research into the consequences of taxes on a taxable investor's total return. The results of this research led us to take a total-strategy approach, utilizing multiple asset classes in a globally diversified approach to tax-managed investing. We employ this special focus on tax management to help investors enhance after-tax returns or reduce taxes. At SEI, we take the position that taxes play an integral role in the investment process and should be considered when structuring and implementing an investment strategy. RISK MANAGEMENT SEI's investment process is designed to outperform passive market indices through our constant search for new sources of alpha and by selecting specialist managers with superior security selection skills. Our return expectations are for our subadvisors, mutual funds, and investment strategies to outperform their market indices, after fees, and to be well above the median return in a universe of peers. From a risk perspective, we expect the returns of our sub-advisors, mutual funds, and investment strategies to exhibit volatility similar to their market indices, and to show a tracking error well below the median in a universe of peers. SEI Strategies for the Third Quarter of 2014, page 3

6 800% 800% 800% 800% 800% 800% 800% 800% 800% 800% 800% 800% 800% 800% 800% 800% Private Client Short Term Goals-Based Strategies Private Client 10% Real Return 3% Global Managed Volatility 20% Short Duration Government 3% U.S. Managed Volatility 20% Multi-Asset Capital Stability 6% U.S. Fixed Income 50% Prime Obligation Money Market 7% Real Return 26% Short Duration Government 3% High Yield Bond 2% Multi Strategy Alternative 20% Multi-Asset Capital Stability 5% Multi-Asset Inflation Managed 5% Multi-Asset Income 20% Prime Obligation Money Market Strategy Expense Ratio: 0.39% 4% Equity / 96% Fixed Income Private Client Conservative 9% Global Managed Volatility 14% Global Managed Volatility 8% U.S. Managed Volatility 9% U.S. Managed Volatility 6% U.S. Fixed Income 3% Large Cap 5% Real Return 7% U.S. Fixed Income 3% Enhanced Income 4% Real Return 13% Short Duration Government 3% Enhanced Income 6% High Yield Bond 5% Short Duration Government 4% Ultra Short Duration Bond 7% High Yield Bond 2% Emerging Markets Debt 4% Emerging Markets Debt 4% Multi Strategy Alternative 8% Multi Strategy Alternative 15% Multi-Asset Capital Stability 10% Multi-Asset Capital Stability 8% Multi-Asset Inflation Managed 10% Multi-Asset Inflation Managed 7% Multi-Asset Income 5% Multi-Asset Income 10% Prime Obligation Money Market 10% Multi-Asset Accumulation 1% Prime Obligation Money Market Strategy Expense Ratio: 0.76% Strategy Expense Ratio: 0.98% 24% Equity / 70% Fixed Income / 6% Alternative 34% Equity / 55% Fixed Income / 11% Alternative Private Client Core Market 15% Large Cap 23% Large Cap 3% Small Cap 4% Small Cap 7% International Equity 11% International Equity 3% Emerging Markets Equity 4% Emerging Markets Equity 17% U.S. Fixed Income 8% U.S. Fixed Income 9% High Yield Bond 7% High Yield Bond 7% Emerging Markets Debt 7% Emerging Markets Debt 5% Multi Strategy Alternative 3% Multi Strategy Alternative 10% Multi-Asset Inflation Managed 10% Multi-Asset Inflation Managed 3% Multi-Asset Income 2% Multi-Asset Income 20% Multi-Asset Accumulation 20% Multi-Asset Accumulation 1% Prime Obligation Money Market 1% Prime Obligation Money Market Strategy Expense Ratio: 1.06% Strategy Expense Ratio: 1.09% 36% Equity / 56% Fixed Income / 8% Alternative 50% Equity / 44% Fixed Income / 6% Alternative Private Client Aggressive 35% Large Cap 56% Large Cap 6% Small Cap 14% Small Cap 16% International Equity 19% International Equity 7% Emerging Markets Equity 10% Emerging Markets Equity 7% High Yield Bond 1% Prime Obligation Money Market 8% Emerging Markets Debt 20% Multi-Asset Accumulation 1% Prime Obligation Money Market Strategy Expense Ratio: 1.13% 68% Equity / 31% Fixed Income / 1% Alternative Non Tax-Managed Strategies Underlying Fund allocations are subject to change SEI Strategies for the Third Quarter of 2014, page 4 Private Client Defensive Strategy Expense Ratio: 0.59% 13% Equity / 84% Fixed Income / 3% Alternative Private Client Moderate Private Client Market Growth Private Client Equity Strategy Expense Ratio: 1.10% 100% Equity

7 Goals-Based Strategies 800% 800% 800% 800% Private Client 800% 800% 800% 800% 800% 800% 800% 800% 800% 800% 800% 800% Tax-Managed Strategies Private Client Tax-Managed Short Term Private Client Tax-Managed Defensive 40% Short Duration Municipal 10% Tax-Managed Managed Volatility 10% Intermediate Term Municipal 69% Short Duration Municipal 50% Tax Free Money Market 10% Intermediate Term Municipal 10% Tax-Advantaged Income 1% Tax Free Money Market Strategy Expense Ratio: 0.40% 100% Fixed Income Private Client Tax-Managed Conservative Strategy Expense Ratio: 0.69% 10% Equity / 90% Fixed Income Private Client Tax-Managed Moderate 20% Tax-Managed Managed Volatility 25% Tax-Managed Managed Volatility 5% Tax-Managed Large Cap 10% Tax-Managed Large Cap 49% Short Duration Municipal 5% International Equity 10% Intermediate Term Municipal 27% Short Duration Municipal 15% Tax-Advantaged Income 20% Intermediate Term Municipal 1% Tax Free Money Market 12% Tax-Advantaged Income 1% Tax Free Money Market Strategy Expense Ratio: 0.75% Strategy Expense Ratio: 0.80% 25% Equity / 75% Fixed Income 40% Equity / 60% Fixed Income Private Client Tax-Managed Core Market Private Client Tax-Managed Market Growth 30% Tax-Managed Large Cap 45% Tax-Managed Large Cap 5% Tax-Managed Small/Mid Cap 8% Tax-Managed Small/Mid Cap 8% International Equity 10% International Equity 1% Emerging Markets Equity 3% Emerging Markets Equity 40% Intermediate Term Municipal 19% Intermediate Term Municipal 12% Tax-Advantaged Income 10% Tax-Advantaged Income 3% Emerging Markets Debt 4% Emerging Markets Debt 1% Tax Free Money Market 1% Tax Free Money Market Strategy Expense Ratio: 0.84% 44% Equity / 56% Fixed Income Private Client Tax-Managed Aggressive Strategy Expense Ratio: 0.94% 66% Equity / 34% Fixed Income Private Client Tax-Managed Equity 58% Tax-Managed Large Cap 65% Tax-Managed Large Cap 11% Tax-Managed Small/Mid Cap 14% Tax-Managed Small/Mid Cap 13% International Equity 15% International Equity 4% Emerging Markets Equity 5% Emerging Markets Equity 7% Tax-Advantaged Income 1% Tax Free Money Market 6% Emerging Markets Debt 1% Tax Free Money Market Strategy Expense Ratio: 1.02% 86% Equity / 14% Fixed Income Underlying Fund allocations are subject to change SEI Strategies for the Third Quarter of 2014, page 5 Strategy Expense Ratio: 1.02% 100% Equity

8 Goals-Based Strategies ### 2400% 2400% 2400% 2400% 2400% 2400% ### GoalLink Fund-of-Funds ### 2400% 2400% 2400% 2400% 2400% 2400% ### ### 2400% 2400% 2400% 2400% 2400% 2400% 2400% 2400% 2400% 2400% 2400% 2400% ### Non Tax-Managed Strategies GoalLink Defensive GoalLink Conservative GoalLink Moderate 99% Defensive Strategy Fund 99% Conservative Strategy Fund 99% Moderate Strategy Fund 3% Global Managed Volatility 9% Global Managed Volatility 14% Global Managed Volatility 3% U.S. Managed Volatility 8% U.S. Managed Volatility 10% U.S. Managed Volatility 8% U.S. Fixed Income 10% U.S. Fixed Income 3% Large Cap 10% Real Return 7% Real Return 9% U.S. Fixed Income 22% Short Duration Government 8% Enhanced Income 6% Real Return 4% High Yield Bond 7% Short Duration Government 7% Enhanced Income 5% Ultra Short Duration Bond 7% High Yield Bond 4% Short Duration Government 20% Multi-Asset Capital Stability 9% Ultra Short Duration Bond 8% High Yield Bond 5% Multi-Asset Inflation Managed 15% Multi-Asset Capital Stability 4% Emerging Markets Debt 5% Multi-Asset Income 8% Multi-Asset Inflation Managed 10% Multi-Asset Capital Stability 15% Prime Obligation MMkt 7% Multi-Asset Income 10% Multi-Asset Inflation Managed 1% Prime Obligation Money Market 5% Prime Obligation MMkt 10% Multi-Asset Accumulation 1% Prime Obligation Money Market 5% Multi-Asset Income 1% Prime Obligation Money Market Strategy Expense Ratio: 0.67% Strategy Expense Ratio: 0.79% Strategy Expense Ratio: 0.96% 13% Equity / 86% Fixed Income / 1% Alternative 24% Equity / 74% Fixed Income / 2% Alternative 35% Equity / 62% Fixed Income / 3% Alternative GoalLink Core Market GoalLink Market Growth GoalLink Aggressive 99% Core Market Strategy Fund 99% Market Growth Strategy Fund 99% Aggressive Strategy Fund 17% Large Cap 24% Large Cap 35% Large Cap 3% Small Cap 4% Small Cap 6% Small Cap 8% International Equity 11% International Equity 16% International Equity 3% Emerging Markets Equity 5% Emerging Markets Equity 7% Emerging Markets Equity 20% U.S. Fixed Income 9% U.S. Fixed Income 8% High Yield Bond 9% High Yield Bond 8% High Yield Bond 8% Emerging Markets Debt 7% Emerging Markets Debt 7% Emerging Markets Debt 20% Multi-Asset Accumulation 10% Multi-Asset Inflation Managed 10% Multi-Asset Inflation Managed 1% Prime Obligation Money Market 20% Multi-Asset Accumulation 20% Multi-Asset Accumulation 3% Multi-Asset Income 2% Multi-Asset Income 1% Prime Obligation Money Market 1% Prime Obligation Money Market Strategy Expense Ratio: 1.09% Strategy Expense Ratio: 1.15% Strategy Expense Ratio: 1.21% 39% Equity / 58% Fixed Income / 3% Alternative 52% Equity / 45% Fixed Income / 3% Alternative 68% Equity / 31% Fixed Income / 1% Alternative Tax-Managed Strategies GoalLink Tax-Managed GoalLink Tax-Managed GoalLink Tax-Managed Defensive Conservative Moderate 25% Defensive Strategy Allocation Fund 45% Conservative Strategy Allocation Fund 55% Moderate Strategy Allocation Fund 40% U.S. Managed Volatility 45% U.S. Managed Volatility 46% U.S. Managed Volatility 20% Real Estate 22% Real Estate 18% Tax-Managed Large Cap 40% High Yield Bond 33% High Yield Bond 9% Real Estate 64% Short Duration Municipal 44% Short Duration Municipal 9% International Equity 10% Intermediate Term Municipal 10% Intermediate Term Municipal 18% High Yield Bond 1% Tax Free Money Market 1% Tax Free Money Market 24% Short Duration Municipal 20% Intermediate Term Municipal 1% Tax Free Money Market Strategy Expense Ratio: 0.74% Strategy Expense Ratio: 0.84% Strategy Expense Ratio: 0.89% 15% Equity / 85% Fixed Income 30% Equity / 70% Fixed Income 45% Equity / 55% Fixed Income GoalLink Tax-Managed GoalLink Tax-Managed GoalLink Tax-Managed Core Market Market Growth Aggressive 50% Core Market Strategy Allocation Fund 75% Market Growth Strategy Allocation Fund 99% Tax-Managed Aggressive Strategy Fund 56% Tax-Managed Large Cap 56% Tax-Managed Large Cap 56% Tax-Managed Large Cap 14% Tax-Managed Small/Mid Cap 14% Tax-Managed Small/Mid Cap 14% Tax-Managed Small/Mid Cap 16% International Equity 16% International Equity 16% International Equity 2% Emerging Markets Equity 2% Emerging Markets Equity 2% Emerging Markets Equity 8% High Yield Bond 8% High Yield Bond 8% High Yield Bond 4% Emerging Markets Debt 4% Emerging Markets Debt 4% Emerging Markets Debt 49% Intermediate Term Municipal 24% Intermediate Term Municipal 1% Tax Free Money Market 1% Tax Free Money Market 1% Tax Free Money Market Strategy Expense Ratio: 0.88% Strategy Expense Ratio: 1.00% Strategy Expense Ratio: 1.12% 44% Equity / 56% Fixed Income 66% Equity / 34% Fixed Income 87% Equity / 13% Fixed Income Underlying Fund allocations are subject to change SEI Strategies for the Third Quarter of 2014, page 6

9 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% 400% Strategies 40 Tax Sensitive Strategies 60 Tax-Managed Large Cap 24% 36% 48% 59% Tax-Managed Small/Mid Cap 4% 6% 8% 10% International Equity 8% 12% 16% 20% Emerging Markets Equity 4% 6% 8% 10% Intermediate Term Municipal 38% 25% 12% High Yield Bond 6% 4% 2% International Fixed Income 9% 6% 3% Emerging Markets Debt 6% 4% 2% Tax Free Money Market 1% 1% 1% 1% Strategy Expense Ratio 0.91% 0.97% 1.03% 1.09% % % % % 500% 500% 500% 500% 500% 500% 500% 500% 500% 500% 500% 500% 500% Institutional Strategies 500% 500% 500% 500% 500% 500% 500% 400% 500% 500% 500% 500% 500% 500% 500% 500% 500% 500% 500% Fixed Moderate Growth & Growth & Capital Strategies Income Income Income Growth Equity Large Cap Value 12% 18% (+1%) 24% (+1%) 29% Large Cap Growth 12% 18% (-1%) 24% (-1%) 30% Small Cap Value 2% 3% 4% 5% Small Cap Growth 2% 3% 4% 5% International Equity 8% 12% 16% 20% Emerging Markets Equity 4% 6% 8% 10% Core Fixed Income 64% 38% 25% 12% High Yield Bond 10% 6% 4% 2% International Fixed Income 15% 9% 6% 3% Emerging Markets Debt 10% 6% 4% 2% Prime Obligation Money Market 1% 1% 1% 1% 1% Strategy Expense Ratio 0.82% 0.93% 0.98% 1.04% 1.09% % % % % % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% Underlying Fund allocations are subject to change. SEI Strategies for the Third Quarter of 2014, page 7

10 SEI Fund Managers and Total Securities Held as of May 31, 2014 SIMT Tax-Managed Large Cap SIMT Small Cap Growth STET Tax-Advantaged Income AQR Capital Management AllianceBernstein, L.P. Pacific Investment Management Company, LLC Aronson+Johnson+Ortiz, L.P. AQR Capital Management Spectrum Asset Management Brown Investment Advisory, Incorporated Janus Capital Management, LLC Jackson Square Partners, LLC JP Morgan Investment Management, Inc. STET Intermediate Term Municipal LSV Asset Management, L.P. Montibus Capital Management, LLC Jackson Square Partners, LLC Parametric Portfolio Associates Standish Mellon Asset Management Company, LLC Waddell & Reed Investment Management Co. SIMT U.S. Managed Volatility Analytic Investors, Inc. SIMT Enhanced Income SIMT Large Cap Aronson+Johnson+Ortiz, L.P. Ares Management, LLC AQR Capital Management LSV Asset Management, L.P. Wellington Management Aronson+Johnson+Ortiz, L.P. Brown Investment Advisory, Incorporated SIMT Tax-Managed Managed Volatility SDIT GNMA Jackson Square Partners, LLC Analytic Investors, Inc. Wellington Management LSV Asset Management, L.P. Aronson+Johnson+Ortiz, L.P. Waddell & Reed Investment Management Co. LSV Asset Management, L.P. SDIT Short-Duration Government Parametric Portfolio Associates Wellington Management SIMT Large Cap Value Aronson+Johnson+Ortiz, L.P. SIT International Equity SDIT Intermediate-Duration Government - 63 Brandywine Global Investment Management Acadian Asset Management, Inc. Wellington Management Lazard Asset Management, LLC Causeway Capital Management LSV Asset Management, L.P. Intech Investment Management LLC SDIT Ultra Short Duration Bond Neuberger Berman Management, Inc. Logan Circle Partners LP SIMT Large Cap Growth Schroder Investment Management Limited Wellington Management Brown Investment Advisory, Incorporated Tradewinds Global Investors Intech Investment Management LLC STET Short Duration Municipal Jackson Square Partners, LLC SIT Emerging Markets Equity Neuberger Berman Fixed Income, LLC Jackson Square Partners, LLC Wells Capital Management, Inc. SIMT Real Estate - 74 JO Hambro Capital Management CenterSquare Investment Management, Inc. Kleinwort Benson Investors International Ltd. SIMT Multi Strategy Alternative - 13 Security Capital Research and Management Lazard Asset Management, LLC SEI Investments Management Corporation Neuberger Berman Management, Inc. SIMT Tax-Managed Small/Mid Cap PanAgora Asset Management SIT International Fixed Income AllianceBernstein, L.P. AllianceBernstein, L.P. JP Morgan Investment Management, Inc. SIMT Global Managed Volatility Fidelity Pensions Management Lee Munder Capital Group Acadian Asset Management, Inc. Wellington Management LSV Asset Management, L.P. Analytic Investors, Inc. Parametric Portfolio Associates SIT Emerging Markets Debt Wellington Management SIMT Core Fixed Income Investec Asset Management US Ltd. William Blair and Company, LLC Jennison Associates LLC Neuberger Berman Fixed Income, LLC Metropolitan West Asset Management Stone Harbor Investment Partners, L.P. SIMT Small Cap Wells Capital Management, Inc. AllianceBernstein, L.P. Western Asset Management SIMT Multi-Asset Accumulation AQR Capital Management AQR Capital Management Fiduciary Management Associates, LLC SIMT U.S. Fixed Income PanAgora Asset Management Integrity Asset Management Jennison Associates LLC JP Morgan Investment Management, Inc. JP Morgan Investment Management, Inc. SIMT Multi-Asset Capital Stability - 74 Montibus Capital Management, LLC Metropolitan West Asset Management AllianceBernstein, L.P. Robeco Investment Management Wells Capital Management, Inc. William Blair and Company, LLC Western Asset Management SIMT Multi-Asset Income Guggenheim Partners Asset Management, LLC SIMT Small Cap Value SIMT Real Return - 12 Artisan Partners, L.P. SEI Fixed Income Portfolio Management SIMT Multi-Asset Inflation Managed Fiduciary Management Associates, LLC AllianceBernstein, L.P. Lee Munder Capital Group SIMT High Yield Bond Cohen & Steers Capital Management, Inc. LSV Asset Management, L.P. Ares Management, LLC QS Investors, LLC Martingale Asset Management, L.P. Benefit Street Partners, LLC Robeco Investment Management Brigade Capital Management, LLC SLAT Prime Obligation Money Market Security Capital Research and Management Jackson Square Partners, LLC BofA Advisors, LLC William Blair and Company, LLC JP Morgan Investment Management, Inc. STET Tax Free Money Market BofA Advisors, LLC SEI Strategies for the Third Quarter of 2014, page 8

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