Stock Screening Process

Composite Performance

Annualized Rates* of Return for Periods Ending 3/31/13 (%) * Any time period longer than one year is annualized.   Important Performance Disclosures

Composite Performance

Annual Rates of Return (%) Important Performance Disclosures

Characteristics

Characteristics as of 3/31/13 O'Shaughnessy All Cap Value Russell 3000® Value Index Holdings Based* Price/Earnings Ratio 11.7× 14.8× Price/Sales Ratio 0.8× 1.1× 1-Year Historical Earnings Growth Rate 102.7% 94.6% Trailing 12-month Price Appreciation 26.3% 17.8% Weighted Average Market Capitalization $64,813 mil $88,087 mil Median Market Capitalization $5,979 mil $1,018 mil Approximate Annual Turnover 90% (institutional) 90% (non-taxable) 95% (taxable) — Active Share 83.9% — Returns Based (Since Inception – August 1, 2003) Standard Deviation 14.5% 15.9% Downside Standard Deviation 3.2% 3.6% Sharpe Ratio 0.66 0.38 Beta 0.87 1.00   Information Ratio 0.74 — Tracking Error 4.8% — Downside Capture 90.9% 100.0% Upside Capture 97.4% 100.0% Gross of Fees * Based on a group of Dynamic Rebalance® representative accounts. Each client account will differ based on start date and regeneration dates. Turnover is based on a backtest over the previous five years. Important Performance Disclosures

Current Sector Weightings

Sector Distribution as of 3/31/13 (%) Based on a group of Dynamic Rebalance® representative accounts.

Base Rates

As of 3/31/13 Base Rates vs. Russell 3000® Value (Gross of Fees) Base Rates are batting averages for how often a strategy beats the benchmark over certain rolling time periods. Won Lost Base Rate Excess Return Rolling 1-Year Periods 82 23 78% 3.3% Rolling 3-Year Periods 77 4 95% 4.6% Rolling 5-Year Periods 57 0 100% 5.5% Rolling 7-Year Periods 33 0 100% 4.8% Important Performance Disclosures

Performance returns are preliminary. Past performance is no guarantee of future results.
Due to ongoing research, the manager may from time to time adjust the model by changing certain factors or screens which comprise the model without prior notice. OSAM may determine it appropriate to rebalance at times other than the regularly scheduled rebalance without prior notice. Stocks with small and mid–sized market capitalizations (those defined by OSAM as less than $10 billion) may have greater risk and volatility than those with larger market capitalizations.

Style allocations are approximate. They may change over time and vary by account.