1. Advisor Name | Firm Name Shifting into Second Gear ECONOMIC RECOVERY 2011 Jobs, housing and inflation prevent economy from reaching full speed Advisor Logo

2. 2 Advisor introduction Firm bio Shifting into Second Gear | About Us

3. 3 Shifting into Second Gear | Today’s Agenda Why does the economy feel like it’s stuck in second gear? –Reasons for optimism –Improvements in GDP –Encouraging markets –Growth in manufacturing –Improving economic indicators –Reasons for caution –Persistent unemployment –Depressed housing sector –Possible higher inflation –What does it mean for investors?

4. 4 Shifting into Second Gear | Economic Update Longest U.S. recessions (months) Start Date Recession ends June 2009 Recession is over! Source: National Bureau of Economic Research

5. 5 Gross Domestic Product – 1981 to 1Q 2011 Source: Bureau of Economic Analysis Economy slowing – but it’s still growth Shifting into Second Gear | Reasons for Optimism

6. 6 Source: SEI, in USD, Large Cap = Russell 1000, Small Cap = Russell 2000, Real Estate = DJ Wilshire RESI Index, Developed International Equity Markets = MSCI EAFE, Emerging Markets Equity = MSCI EME, World Equities = MSCI World Index, Global Bonds = Barclay’s Capital Aggregate Global Bond Index, US Investment Grade Bonds = Barclay’s Capital US Aggregate, High Yield = Merrill Lynch US HY Master II Constrained, Emerging Markets Debt = JP Morgan EMBIGD, Treasury = Treasury component of the Barclay’s US Aggregate, Inflation Linked = Barclays Capital 1-10Yr US TIPS to 6/30/2009 and Barclays Capital 1-5 Year US TIPS Index from 7/01/2009, Cash = ML USD LIBOR 3M Sorted by 4Q 2010 Shifting into of Second Gear | Reasons for Optimism  With the exception of government- sponsored debt, all major market indices ended the quarter in positive territory.  The bull market in global equities was disrupted, but not derailed, by recent developments in the Middle East, North Africa and Japan.  U.S. equities led with small-caps outperforming large-caps.  Within fixed income, corporate bonds outperformed government bonds, and increasing inflation expectations aided Treasury Inflation Protected Securities.

7. 7 Leading Economic Indicators –November 2009 to April 2011 Source: The Conference Board Modest economic expansion Shifting into Second Gear | Reasons for Optimism

8. 8 Purchasing Managers Index Source: Institute of Supply Management Growth in manufacturing 50 and above equals manufacturing growth

9. 9 Shifting into Second Gear | Reasons for Optimism Consumers are spending more Percentage change from previous period Source: Bureau of Economic Analysis

10. 10 Shifting into Second Gear | Reasons for Optimism U.S. is exporting more goods Source: U.S. Department of Commerce

11. 11 Shifting into Second Gear | Reasons for Optimism Loan delinquencies declining Source: Federal Reserve Board

12. 12 Depressed housing market Source: National Association of Home Builders Shifting into Second Gear | Reasons for Caution Sale of new and existing homes (thousands of units)

13. 13 U.S. Unemployment Rate (%) December 2009 to April 2011 Source: U.S. Bureau of Statistics Shifting into Second Gear | Reasons for Caution Stubborn unemployment

14. 14 Shifting into Second Gear | Reasons for Caution Pace of job growth slowing Source: Bureau of Labor Statistics

15. 15 Shifting into Second Gear | Employment by industry Most industries show drop in unemployment Source: Bureau of Labor Statistics

16. 16 Shifting into Second Gear | Employment by region Unemployment significantly below national average in 25 states. Unemployment rates same as national average in 20 states. Unemployment remains troublesome in the West due to distressed housing market Midwest greatly improved due to surge in manufacturin g. Northeast has lowest jobless rate of all regions. Source: Wall Street Journal, June 17, 2011.

17. 17 Consumer Price Index 2000 to April 2011 Source: The Conference Board Is inflation returning? Shifting into Second Gear | Reasons for Caution

18. 18 Shifting into Second Gear | Reasons for Caution Volatile energy prices Source: Dow Jones and Company Spot oil prices: $/barrel 2000-2011

19. 19 Shifting into Second Gear | Reasons for Caution Economic slowdown is a global affair Real GDP Annual Percentage by Region * Projection Source: International Monetary Fund

20. 20 What does it all mean? Recession is over – even though it may not feel like it Reasons for optimism Investment markets are cooperating Manufacturing is heating up Economic indicators are encouraging Reasons for caution Unemployment stuck at unacceptable levels Housing market appears to have retreated Inflation is potential complication Remember, you’re not alone Shifting into Second Gear | Conclusions

21. 21 Shifting into Second Gear | Message for Investors Follow the “Three Rs” 1.Review your financial goals 2.Re-examine you investment strategy 3.Remain invested Source: GE Asset Management. Past performance does not guarantee future results. An investor cannot invest directly in an index or average and they do not include sales charges or operating expenses associated with an investment in a mutual fund, which would reduce total returns. 9.35% * Invested in the S&P 500 Index Jan. 1, 1980 to December 31, 2010

22. 22 Benefits of working with a financial advisor: Identify and reconfirm short-term and long-term goals Maintain customized investment strategy that supports individual objectives Provide guidance through fluctuating markets, avoiding emotion-driven mistakes Access broad selection of diversified mutual funds and other securities Advise during market crisis, upcoming bull market and the next market dip (they will all happen again!) Educate so you can understand and make the right investment decisions Shifting into Second Gear | Role of Advisor

23. 23 Disclosure This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. SEI Investments Management Corporation (SIMC) is the adviser to the SEI Funds, which are distributed by SEI Investments Distribution Co. (SIDCo.) SIMC and SIDCo are wholly owned subsidiaries of SEI Investments Company. Neither SEI nor its subsidiaries are affiliated with your advisor Carefully consider the investment objectives, risk factors and charges and expenses before investing. This and other information can be found in the Funds’ prospectuses, which may be obtained by calling 1-800-DIAL-SEI. Read it carefully before investing. There are risks involved with investing, including loss of principal. Current and future portfolio holdings are subject to risks as well. Diversification may not protect against market risk. There is no assurance the objectives discussed will be met. Past performance does not guarantee future results Index returns are for illustrative purposes only and do not represent actual portfolio performance. Index returns do not reflect any management fees, transaction costs or expenses. One cannot invest directly in an index.