TCTR - 2050 R1 by Trademark Capital

Q4: December 31, 2012

Asset Class: Target-Date Funds

Trademark Capital 2050 Fund Class R1Retirement 2050 Fund R1 Trademark Capital Target Growth of $10,000 Fund Description

Class R1 Shares 05/31/2007 - 12/31/2012

The Trademark Capital Target Retirement 2050 Fund seeks a moderate level of total return and the preservation of purchasing power of accumulated assets prior to and beyond the target retirement date. The10 Trademark Capital Target Date Series are collective investment funds (“CIFs”) created by TOP HOLDINGS the Hand Composite Employee Benefit Trust and sponsored by Hand Benefits & Trust Company, a BPAS company, that invest in the strategies of TLT 1) IShares Brclyswhich 20+ serves Yr Treasury Fnd to the CIFs. 6) iShares Barclays TIPS Bond Fd TIP Trademark Capital as the Bnd sub-advisor

DJP Small-Cap glide path design adjusts the broadly diversified 2) BrclysiPthCapital DJUBSCommodtyIdxTtlRtrnSM The Trademark/Wilshire 7) Vanguard VB asset mix on Trademark a quarterly basis, gradually moving toward a more conservative allocation up to and Portfolio Management Team BND 3) Vanguard Total Bond Market 8) Vanguard MSCI Emerging Markets VWO Joseph Ezernack, MBA

4) Market VctrsOfficer Emrgng Mrkts Lcl Crncy Bn Chief Investment 5) SPDR Barclays High Yield Bond Don Beasley Managing Director

“through” retirement to life expectancy. This approach takes into account investor behavior assumptions before andREIT after the target retirement date, whichVNQ are used to create the EMLC both 9) Vanguard slope of the glide path. JNK 10) Vanguard Mid-Cap VO Allocation

FUND FACTS

Equity

80%

Alpha

The asset allocation and glide path strategy is 60% 41023X633 $11,000 CUSIP powered by Wilshire Associates. Investment selection, management and downside protection 40% $10,000 Fund Expense Ratio 0.90% overlay is managed by Trademark Capital.

Weighted Average ETF

Advisor

Total ExpenseCapital Ratio* Trademark

FUND DATA Trademark Flexguard Overlay expands in adverse

100%

Investment Share Class Approach

Beta R

under positive market conditions Standard Deviation

$8,000 0% 1.00%

-2.36%

market conditions

V o l a t i l i t y

Trademark Flexguard Overlay contracts

$9,000 20% 0.10%

($10.00 per $1,000 invested)

Trademark Flexguard Overlay

Fixed Income

0.92 M a 0.97 n a g e m e 17.13% n t

Sharpe Ratio

Retirement Age

$10,423.26

-0.13

$9,980.54 Maturity Age

$7,000

2007-05 2007-07 2007-09 2007-11 2008-01 2008-03 2008-05 2008-07 2008-09 2008-11 2009-01 2009-03 2009-05 2009-07 2009-09 2009-11 2010-01 2010-03 2010-05 2010-07 2010-09 2010-11 2011-01 2011-03 2011-05 2011-07 2011-09 2011-11 2012-01 2012-03 2012-05 2012-07 2012-09 2012-11

Trademark Capital Management, Inc. is aTarget Date 2050 Age TR 25 Annual 30 35 4 0 Turnover 45 50 55 60 65 70 75 80 8855 45 50 55 60 65 70 75 80 Portfolio Benchmark Morningstar 24% Q4: December 31, 2012 federally registered investment advisor with $6,000 *The fund expense ratio has 10 bps of service fees payable to the plan’s serviceYoung Savers In-Retirement Harvesters InceptionMature DateAccumulators Near-Retirement Transitioners 2/1/2011 a Capital team The of2050 experienced and credentialed providers. total expense includes the fund expense ratio and the weighted (34 and younger) (35-49) (50-65) (65+) rademark Fund ratio Class R1 $5,000 1 professionals. For nearly two decades, average ETF expense. Fund vs. the S&P 500 rowth of $10,000 Class R1 Shares 05/31/2007 - 12/31/2012The Trademark Flexguard Overlay (TFO), can reduce exposure to the “equity” glide path Trademark Capital has been steadfast in holding true to its core principles:TOP putting client’s interest during periods of elevated market risk. While the level of the TFO is lower for younger 10 HOLDINGS TLT solutions. Barclays TIPS Bond Fd the pre-determined first20+ and The 2040TIP Trademark Fund R1 levels of protection Morningstar Target Dateup 2040 ) IShares Brclys Yrdelivering Treasury Bndgoal-oriented Fnd 6) iShares investors, maximum increase to and “through” CALENDAR YEAR RETUR Capital investmentDJP philosophy 7) Vanguard Small-Cap VB 2012 ) BrclysiPthTrademark DJUBSCommodtyIdxTtlRtrnSM retirement. Q4: December 31, QTD Y BND Vanguard MSCI Emerging onMarket the idea of “winning by not ) Vanguardcenters Total Bond 8) losing.” At age 65,Markets the target retirementVWO date, the maximum equity exposure is 55%. At age 85, the target maturity date, the maximum equity

) Market Vctrs Emrgng Mrkts Lcl Crncy Bn

) SPDR Barclays High Yield Bond

Glide Path Consultant Wilshire FUND Associates FACTS

EMLC JNK

Trademark Capital 2050 Fund Class R1

the lowest allocation to equities along the glide path. 9) Vanguard REIT exposure is 15%, which represents VNQ 10) Vanguard Mid-Cap

Trademark Capital 2050 Fund Class R1

2.91%

14.

Morningstar Target Date 2050 TR

2.24%

15.

VO Growth of $10,000 Class R1 Shares 05/31/2007 - 12/31/2012

FUND DATA $11,000

$10,060.49 R1 Alpha -2.36% Founded in 1972, Wilshire Associates TOP 10 HOLDINGS $10,000 41023X633 Beta USIP 0.92 (“Wilshire®”), a leading global independent TLT 1) IShares Brclys 20+ Yr Treasury Bnd Fnd 6) iShares Barclays TIPS Bond Fd TIP $9,000 nd Expenseinvestment Ratio 0.90% 0.97 CALENDAR YEAR HYPOTHETICAL & R2 consulting and services firm, has DJP 7) Vanguard Small-Cap VB eighted Average Standard Deviation 2) BrclysiPth DJUBSCommodtyIdxTtlRtrnSM 17.13% moreETF than three decades0.10% of experience providing $8,000 $9,242.52 12/31/2007 12/31 Sharpe Ratio 1.00% -0.13 otal Expenserisk Ratio* BND 3) Vanguard Total Bond Market 8) Vanguard MSCI Emerging Markets VWO analytics, investment consulting, and ($10.00 per $1,000 invested) $7,000 Annual Portfolio Turnover enchmark investment Morningstar Target 2050 TR 24% solutions toDate institutional investors 0.00% -33. EMLC Vanguard REIT Trademark Capital 2050 Fund Class R1 4) Market Vctrs Emrgng Mrkts Lcl Crncy Bn 9) VNQ he fund expense ratio has 10 bps of service fees payable to the plan’s service Date $6,000 2/1/2011 currently serves Inception in excess viders. The total worldwide. expense ratio includesWilshire the fund expense ratio and the weighted JNK Mid-Cap 5) SPDR Barclays High Yield 10) Vanguard VO rage ETF expense. Fund vs. the S&P 500Bond $6, Growth of $10,000 $9,619 of 600 organizations in more than 20 countries $5,000 representing assets totaling more than US $6 1 FUND FACTS 0.00% -38. FUND Morningstar Date 2050DATA TR CALENDAR YEAR RETURNS (%) - CLASSTarget R1 SHARES $4,000 trillion.* Inception to

hare Class

Share Class

Trustee Hand Benefits & Trust Company Hand Benefits & Trust Company (HB&T), a BPAS company, is a state-chartered trust company serving the retirement industry since 1963. HB&T, headquartered in Houston, is regulated by the Texas Department of Banking and is one of the country’s largest full service trust companies dedicated to retirement plans. *As of 12/31/09, based on published data in the 12/27/10 issue of Pension and Investments.

YTDR1

1 Year Alpha

14.08% 41023X633

14.08% Beta

QTD

Trademark Capital 2050 Fund Class R1 CUSIP

2.91%

2.24% Morningstar Target Date TR 20502050 Trademark Fund

Fund Expense Ratio

R1 0.90%

15.25%

3 Year

Date Growth of $10,000 5.83%

-1.44%

$9,856

2 Morningstar Target Date 2050 R

15.25%

8.15%

0.11%

Benchmark

Morningstar Target TR $9,619Date 2050 $6,425 Growth of $10,000

*The fund expense ratio has 10 bps of service fees payable to the plan’s service 0.00% -38.81% Morningstar Target Date 2050 TR providers. The total expense ratio includes the fund expense ratio and the weighted $9,856 $6,030 Growth of $10,000 average ETF expense.

12/31/2009

12/31/2010 Sharpe Ratio

$6,

0.92 0.97

CALENDAR RESULTS ($) 5/31/07 - 12/31/12 Weighted Average ETF YEAR HYPOTHETICAL 0.10%& ACTUAL Standard Deviation 12/31/2007 12/31/2008 Total Expense Ratio* ($10.00 per $1,000 invested) 1.00% 0.00% -33.20% Trademark Capital 2050 Fund Class R1

-2.36%

17.13%

12/31/2011

12/31/2012

10.81%

-6.24%

14.08% $9,243

24%

31.87% 14.43% Inception Date

-4.08%

15.25%

2/1/2011

$8,728

1 $10,060

21.05%

Annual $7,778 Portfolio $8,619Turnover $8,098 $7,952

$9,100

-0.13

Fund vs. the S&P 500

Illustrates a $10,000 investment made on 5/31/2007 with no additional deposits. Performance prior to February 1, 2011 is back-tested while performance after February 1, 2011 is based on actual results. Hypothetical, back-tested performance information for the Fund is for illustrative purposes only and does not represent actual Fund performance. CALEND Hypothetical, back-tested performance has inherent limitations and is not indicative of future results. No representation is being made that the Fund will achieve performance similar to that shown. The hypothetical performance does not reflect brokerage fees but is net of stated Fund expenses.

Trademark Capital 2050 Fund Clas

r $1,000 invested)

r Target Date 2050 TR

Annual Portfolio Turnover

s payable to the plan’s service expense ratio and the weighted

Inception Date

24% 2/1/2011

Fund vs. the S&P 500 Trademark Capital Target Retirement 2050 Fund R1 1

CALENDAR YEAR RETURNS (%) - CLASS R1 SHARES QTD

YTD

1 Year

Trademark Capital 2050 Fund Class R1

2.91%

14.08%

5.83%

Inception to Date -1.44%

Morningstar Target Date 2050 TR

2.24%

15.25%

8.15%

0.11%

3 Year

YEAR HYPOTHETICAL ACTUAL 12/31/12 Past Performance is no guarantee of future resultsCALENDAR and the actual performance of the benchmark and the & Fund may be lowerRESULTS or higher than($) the 5/31/07 hypothetical- past performance shown above. Fund returns are calculated net of fees. Fund returns are compared to the Morningstar Target Date 2050. Performance prior to February 1, 2011 is back-tested while performance after February 1, 2011 is based on actual 12/31/2007 12/31/2008 12/31/2009 12/31/2010 12/31/2011 12/31/2012 results. Date prior to actual inception is representative of the manager’s performance of a like strategy. Inception date used in the hypothetical return is May 31, 2007.

Trademark Capital Target Retirement 2050

Trademark Capital 2050 Fund Class R1

Target and Actual Allocation

Growth of $10,000

The actual allocation of the fund may differ from the Morningstar Target Date 2050 TR target allocation depending on the current position of Growth of $10,000 the Trademark Flexguard Overlay (TFO). The TFO can reduce exposure to the “equity” portion of the glide path when our model indicates periods of elevated market risk. The TFO provides higher levels of capital protection up to and “through” retirement for the near-dated Funds [2010, 2020 and 2030], while allowing for a higher standard deviation (i.e. up/down volatility) in the longer-dated Funds [2040 & 2050].

Key Considerations

0.00%

-33.20%

21.05%

10.81%

-6.24%

12/31/2012 Target Allocation $9,619 $6,425 $7,778 $8,619 0.00% -38.81% Cash/TIPS 31.87% Other Real Assets $6,030 1% $9,856 $7,952 Bonds 7% 5%

14.43%

-4.08%

$9,100

$8,728 6% $10,060

A balanced approach - The management style not only balances risk with return, but also seeks to improve performance per unit of risk over traditional “diversified” portfolios. A great value - The underlying securities are exchangetraded funds (ETFs) resulting in significant cost savings.

Cash/TIPS 13% Int'l Stocks 33%

US Stocks 51%

Int’l Stocks 36%

US Stocks 43%

Growth of $10,000 Class R1 Shares 05/31/2007 - 12/31/2012 TOP 10 HOLDINGS 1) IShares Brclys 20+ Yr Treasury Bnd Fnd

TLT

6) iShares Barclays TIPS Bond Fd

2) BrclysiPth DJUBSCommodtyIdxTtlRtrnSM

DJP

7) Vanguard Small-Cap

BND

3) Vanguard Total Bond Market

EMLC

4) Market Vctrs Emrgng Mrkts Lcl Crncy Bn

JNK

5) SPDR Barclays High Yield Bond

Trademark Capital Target Retirement Fund

1950-1959

2020

1960-1969

2030

1970-1979

2040

After 1980

2050

CUSIP

R1 41023X633

9) Vanguard REIT

VNQ

10) Vanguard Mid-Cap

Weighted Average ETF

0.10%

Standard Deviation

($10.00 per $1,000 invested)

1.00%

Morningstar Target Date 2050 TR

*The fund expense ratio has 10 bps of service fees payable to the plan’s service providers. The total expense ratio includes the fund expense ratio and the weighted average ETF expense.

As defined in the Declaration of Trust and Participation Agreement documents, the Funds are available for investment by eligible qualified retirement plan trusts only. Principal invested is not guaranteed at any time, including at or after the fund’s specific target retirement date. Participants and beneficiaries may experience losses near, at or after the target date and there is no guarantee that the investment will provide adequate retirement income. The participants and beneficiaries on whose behalf assets are invested in a QDIA have the right to direct the investment to any other investment alternative under the plan, subject to any fees or limitation that may apply to such transfer under the plan. The target date fund should be selected based on factors in addition to age or retirement date, including investment objectives, time horizon, risk tolerance and fees and the stated asset allocation may be subject to change. It is possible to lose money by investment in the fund including at and after the target date. The glide path methodology assumes at the target retirement age the participant or beneficiary withdraws 5% of the account value per year. The Trademark Capital Target Retirement Funds performance prior to February 1, 2011 represents hypothetical back-tested results for the funds while performance after February 1, 2011 is based on actual results. The performance results reflect the reinvestment of dividends and other account earnings, and the maximum Fund investment manage-ment fee that would have been charged by Trademark had Trademark managed the Fund during the corresponding time period plus estimated corresponding Fund expenses (estimated at .90% annually), and any separate fees assessed directly by each security (mutual funds, exchange traded funds, etc.) that comprised the portfolio. Therefore all results are net of fees. As market conditions fluctuate, the investment return and principal value of any investment will change. Diversification may not protect against market risks. There are risks involved with investing, including possible loss of principal. Different types of investments and/ or investment strategies involve varying levels of risk, and there can be no assurance that any specific investment or investment strategy (including the investments purchased and/or investment strategies devised or undertaken by Trademark) will be profitable.

0.92 0.97 17.13%

Sharpe Ratio

-0.13

Annual Portfolio Turnover

24%

Inception Date

IMPORTANT RISK CONSIDERATIONS The Trademark Capital Target Retirement Funds are Collective Investment Funds (CIFs) sponsored by Hand Benefit & Trust Company. The CIFs are not mutual funds and shares are not deposits of Hand Benefits & Trust, a BPAS company, or Trademark Capital Management, and are not insured by the Federal Deposit Insurance Corporation or any other agency. The CIFs are securities which have not been registered under the Securities Act of 1933 and are exempt from investment company registration under the Investment Act of 1940.

-2.36%

Beta

0.90%

Total Expense Ratio*

VO 1

Alpha

Fund Expense Ratio

Benchmark

VB VWO

FUND DATA

Share Class

TIP

8) Vanguard MSCI Emerging Markets

FUND FACTS

2010

Other Bonds 5%

Trademark Capital 2050 Fund Class R1

A winning combination - Combining Wilshire’s glide path expertise with a proprietary downside protection strategy that has been used in client accounts since 1991.

Before 1949

15.25%

Real Assets

Q4: December 31, 2012

A one-step, broadly diversified, ‘managed for you’ solution that adjusts to an investors age, as well as, changes in the financial markets.

Year of Birth

14.08%

12/31/2012 Actual Allocation $9,243

$8,098

2/1/2011 1

Fund vs. the S&P 500

CALENDAR YE

Past performance may not be indicative of future results. Therefore, no current or prospective client should assume that future performance will be profitable, equal the performance results reflected, or equal the corresponding historical benchmark index. The historical performance results for the benchmark does not reflect the deduction of transaction and custodial charges, or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing indicated historical 2050 Fund Class R1 performance results. Benchmarks are unmanaged and one cannot Trademark invest directlyCapital in a benchmark. The historical performance results for the benchmark is provided exclusively for comparison purposes only, Targetclient Datein2050 TR so as to provide general comparative information to assist an individualMorningstar client or prospective determining whether Trademark Funds meets, or continues to meet, his/her investment objective(s). Please Also Note: (1) performance results do not reflect the impact of taxes; (2) It should not be assumed that account holdings will correspond directly to any benchmark index; and, (3) comparative indices may be more or less volatile than the Trademark Funds. CALENDAR YEAR HYPOT

The performance results (5/31/07-12/31/10) reflect hypothetical, back-tested results, that were achieved by 1 means of the retroactive application of a back-tested portfolio and, as such, the corresponding results have inherent limitations, including: (1) Fund results do not reflect the results of actual trading using client assets, but were achieved by means of the retroactive application of each Trademark of the referenced portfolios, certainClass R1 Capital 2050 Fund aspects of which may have been designed with the benefit of hindsight; (2) back-tested performance may not reflect the impact that any material market or economic factors might have had on the adviser’s use of of $10,000 the hypothetical portfolio if the portfolio had been used during the period to actually mangeGrowth client assets; and, (3) Trademark’s clients may have experienced investment results during the corresponding time periods that were materially different from those portrayed in the portfolio. Hypothetical performance results have Morningstar Target Date 2050 TR been compiled solely by Trademark, are unaudited, and have not been independently verified. Trademark maintains all information supporting the performance results in accordance with regulatory requirements. Growth of $10,000 Information pertaining to Trademark’s advisory operations, services, and fees is set forth in Trademark’s current disclosure statement, a copy of which is available from Trademark upon request Performance results have been compiled solely by Trademark, are unaudited, and have not been independently verified. Trademark maintains all information supporting the performance results in accordance with regulatory requirements. Benchmark performance reflects results as reported directly by each respective index and/or obtained by Trademark from other reliable sources, and have not been independently verified by Trademark. This material is for Investment Professional use only.

For more information, contact your financial advisor or call Trademark Capital at 1-800-808-8960 www.TrademarkCapital.com