HIGH QUALITY GROWTH PLUS

Strategy Highlights

A conservative large cap growth discipline that invests in companies with a demonstrated history of consistent growth and stability in earnings and whose equities are selling at attractive valuations.

Asset Class:	Large Cap Equity	Holdings Range:	45 - 55
Investment Style:	Conservative Growth	Max Position Size:	5%
Primary Index:	Russell 1000 Growth	Sector Constraint:	30% Absolute
Inception Date:	January 1, 1992	Annual Turnover:	40 - 50 %

Investment Performance (as of 3/31/12)

	Quarter	1 Yr*	3 Yr*	5 Yr*	10 Yr*	Since Inception*
High Quality Growth Plus (Gross)	16.74	5.42	24.02	5.55	4.57	9.29
High Quality Growth Plus (Net)	16.55	4.69	23.17	4.82	3.84	8.53
Russell 1000 Growth Index	14.69	11.02	25.28	5.10	4.28	7.26

*Annualized. This information is for illustrative purposes only, is subject to change at any time, and should not be considered investment advice or a recommendation to invest in any particular strategy. Annual turnover is based on a representative client account; individual client results may be different. The High Quality Growth Plus Composite gross returns are presented before management and custody fees but after transaction costs. Custody fees and other expenses would reduce the results shown. Composite net returns are after a maximum annual management fee of 0.70%. Please see the Notes to the Composite section in the GIPS® presentation for additional important information regarding the Composite’s performance history. This information is supplemental to the GIPS® presentation for the Composite which may be accessed by clicking on the GIPS® Disclosure link. Past performance does not predict or guarantee future results. It is not possible to directly invest in an index.

GIPS Disclosure

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Offered as a separate account only.