2. Presented by Robert Longfield Consulting Services Group, LLC Role of the Consultant Atlantic Connections July 13, 2011

3.  Professional Advice  Educator  Staff Extension  Fiduciary Assistance 2 Key Functions

4. 3 Professional Advice

5.  Investment policy construction  Strategic & tactical asset allocation  Performance evaluation  Manager selection 4 Professional Advice

6. 5 Educator

7.  Impart knowledge  Raise timely topics  Improve decision making  Define pro/con on decisions Educator

8. 7 Staff Extension

9.  Filtering manager inquiries  Fee negotiations  Manager communications  Special projects 8 Staff Extension

10. 9 Fiduciary Assistance

11.  Documentation  Perform some fiduciary responsibilities  Formalize processes  Fiduciary education 10 Fiduciary Assistance

12.  Robert A. Longfield, Jr., CFA  Robert is a principal in the firm and has been employed at CSG since 1989. He is a senior consultant and is the chairman of the firm’s research advisory board. Robert advises 13 clients with assets of approximately $15 billion.  Consulting Services Group, LLC  CSG was founded in1990. The firm consults to over 60 clients representing approximately $24 billion with 44 employees based in Memphis. In addition to large institutional retirement plans, endowments, and foundations; they have specialty research consulting on areas such as hedge funds and infrastructure investing. 11

13.  Consulting Services Group, LLC (CSG) is an investment adviser that is registered with the Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940. Commerce Square Trading, LLC (CST) is a broker-dealer that offers investment products and services and is a member of FINRA and SIPC. InterSec Research, LLC (InterSec) is a research consulting firm. Commerce Advisors, LLC (CA) is an investment adviser that is registered with the Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940. CA is wholly owned by Commerce Holdings, LLC. Commerce Asset Management (CAM) is an affiliated entity formed by Commerce Holdings, LLC (Commerce Holdings) to provide investment management services in respect of various types of investments. CAM owns 85% of Quantitative Alternative Management, LLC (QAM). QAM was formed by CAM to provide investment management services in respect of various types of alternative investment replication products. Consulting Services Group, LLC, Commerce Holdings, LLC (parent company of related investment adviser, Commerce Advisors, LLC), Commerce Square Trading, LLC, and InterSec Research, LLC are each wholly-owned by CSG Holdings, LLC. CSG, CST, InterSec, CA and CAM do not provide legal or tax advice to clients. All clients with tax considerations, including the effect of UBTI resulting from alternative investment strategies, are strongly urged to consult their tax advisers regarding such issues. A copy of CSG’s current Form ADV Part II may be obtained by contacting the firm’s compliance department at 901.761.8080 and important disclosures regarding the risks of investing in hedge funds may be found on CSG’s website under the “Important Disclosures” section. A copy of CA’s current Form ADV Part II may be obtained by contacting the firm’s compliance department at 901.761.8080. 12