COMPOSITE PERFORMANCE View Time Period:
As of 1/31/15As of 1/31/15As of 12/31/14As of 12/31/14
Inception: Oct 1, 1998

YTD
1 YR3 YR5 YR10 YRSINCE
INCEPTION
Pure Gross*
-2.53%9.64%12.86%12.50%9.59%14.34%9.29%15.87%12.49%9.54%14.60%9.29%55.55%80.11%148.83%815.74%
Net
-2.78%6.46%9.60%9.24%6.41%11.02%6.12%12.52%9.23%6.37%11.27%6.12%42.47%55.51%85.36%467.09%
Russell Midcap® Value Index-1.43%15.05%19.47%17.74%9.53%10.97%14.75%21.98%17.43%9.43%10.90%14.75%81.48%123.27%146.23%437.48%

Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars. All returns reflect the reinvestment of dividends and other earnings.

The pure gross performance results presented do not reflect the deduction of any trading costs, fees, or expenses and returns will be reduced by such advisory fee and other contractual expenses as described in the individual contract and Form ADV Part 2A.

Net returns are calculated by subtracting the highest applicable Managed Account fee (3.00% annually, or 0.25% monthly) from the pure gross composite return. The Managed Account fee includes all charges for trading costs, portfolio management, custody and other administrative fees. Actual fees may vary depending on, among other things, the applicable fee schedule and portfolio size. The fees are available on request and may be found in Form ADV Part 2A.

RISK STATISTICS
VS. Russell Midcap® Value Index

VIEW RISK STATISTICS DEFINITIONS

Alpha
Compares the risk-adjusted performance of a portfolio to a benchmark index.
Beta
A measure of the volatility of a portfolio in comparison to a benchmark index.
R-Squared
Represents the percentage of the portfolio’s performance that can be explained by the general movements of a benchmark index.
Standard Deviation
Measures historical volatility.
Sharpe Ratio
Measures risk-adjusted performance by dividing the portfolio’s excess returns by the standard deviation of those returns.
Information Ratio
Measure of a portfolio management’s performance against risk and return relative to a benchmark or alternative measure.
CompositeINDEX
Alpha----N/AN/A
Beta----1.001.00
R-Squared (%)----100.00100.00
Standard Deviation----9.9214.52
Sharpe Ratio----1.961.22
Information Ratio--------

Statistics are for the Portfolio’s “parent” share class (typically that with the longest history).

CALENDAR YEAR PERFORMANCE

GROWTH OF A $10,000 HYPOTHETICAL INVESTMENT

UP AND DOWN MARKET CAPTURE

AS OF 12/31/143 YR UP MARKET
CAPTURE
3 YR DOWN MARKET
CAPTURE
5 YR UP MARKET
CAPTURE
5 YR DOWN MARKET
CAPTURE
Perkins Mid Cap Value Managed Account78.98%101.53%80.47%94.42%
Russell Midcap® Value Index100.00%100.00%100.00%100.00%

Statistics are for the Portfolio’s “parent” share class (typically that with the longest history).