1. University of Connecticut MBA SMF Presentation December 9th 2015 Akhil Sood, Akhilesh Kumar, Alex Sadowski Christopher Norris, Edward Laclaustra, Jason Harris, Jifeng Hu, Lingfan Sun, Neel Munot, Yun Xie,,

2. Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings Agenda Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

3. Value Investing Emphasis on Fundamental Analysis 5-Year Investment Horizon Corporate Social Responsibility Investment Philosophy and Style Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

4. Bottom-Up Investment Approach 35-40 Stocks When Fully Invested 4 Stock Pitches Per Investment Manager Currently Invested in 17 Stocks (~46% Invested) No Bond Investment Investment Strategy Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

5. Training and development CommunicationStock pitchVotingTracking Process & Procedure Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

6. Risk Management Above average CSR scores 20% stop loss order Allocate stock in all 10 sub sectors Strong balance sheet and financial reports Stable and easily understanding business model Business Model Risk Balance Sheet Risk Macro Economic/ Social Responsibility Aggregation Risk Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

7. Global growth forecast at 3.3% in 2015 and 3.8% in 2016 Forces are now more redistributive in nature:  Sharp declines in oil prices  Diverging trajectories of the major economies  Strengthening of the U.S. dollar and the weakening of the euro and yen Outlook for advanced economies is showing signs of improvement Disposable incomes from lower oil prices Accommodative monetary policy Growth in emerging market economies is softening Adjustment to diminished medium-term growth expectations Lower revenues from commodity exports Economic Outlook Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

8. U.S. economy is in the middle of what could turn out to be the longest expansion Leading economic indicators point towards mid cycle position Yield Curve Charts Source: Bank of America Capital Markets Outlook http://corp.bankofamerica.com/documents/16307/0/capital_market_outlook.pdfhttp://corp.bankofamerica.com/documents/16307/0/capital_market_outlook.pdf Economic Outlook - US Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

9. Leverage & household obligation Economic Outlook - US Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

10. Wages & Consumer Confidence Economic Outlook - US Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

11. Portfolio Status I :17 Stocks Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

12. Portfolio Status II : Return Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

13. Portfolio Analysis: Sector Allocation Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

14. IndustryCompanyDate Purchased Shares Held Current Price Portfolio Weight Current Position Value Consumer Discretionary23.5%201,182 Leisure ProductsPolaris29-Oct-15450105.735.9%47,601 Media & EntertainmentDisney29-Oct-15435119.425.8%50,195 Household DurablesToll Brothers29-Oct-15140037.105.9%53,284 Specialty RetailCarmax6-Nov-1587556.635.9%50,103 Consumer Staples11.9%101,809 Food & Staples RetailingCVS Health17-Nov-1553591.565.9%51,066 TobaccoReynolds American19-Nov-15110047.036.0%50,743 Energy5.9%53,406 Oil, Gas & Consumable FuelsMarathon Petroleum19-Nov-1590056.415.9%53,406 Financials11.8%104,577 Consumer FinanceCapital One18-Nov-1565078.825.9%51,883 Real Estate Investment TrustsAvalonBay19-Nov-15285181.505.9%52,694 Health Care11.6%98,423 BiotechnologyGilead Science6-Nov-15460106.365.8%48,691 Health Care Equ & SupMedtronic11-Nov-1565076.565.8%49,732 Industrials11.6%98,452 Aerospace & DefenseUTX29-Oct-1550098.095.8%48,350 Air Freight & LogisticsUPS6-Nov-15480103.595.8%50102.4 Information Technology6.0%51,630 Tech Hard, Storage & PeriphApple Inc18-Nov-15440117.756.0%51,630 Materials5.9%50,989 Construction MaterialsMartin Marietta18-Nov-15320159.925.9%50,989 Telecommunication Services5.9%50,655 Diversified Telecomm ServicesAT&T19-Nov-15150033.465.9%50,655 Utilities6.0%58,652 Electric UtilitiesITC Holding19-Nov-151,550.033.306.0%58,652 Portfolio Analysis: Positions Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

15. Portfolio Analysis (Invested Portfolio): Statistics SMF PortfolioS&P 500Difference Dividend Yield1.912.09 -0.18 Price to Earning16.3018.66 -2.36 Price to Cash flow12.2910.90 1.39 EV/Sales2.072.22 -0.15 EV/EBITDA11.1212.68 -1.56 Profit Margin9.108.32 0.78 Return on Assets4.852.72 2.13 Beta0.961.00 -0.04 Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

16. Portfolio Performance: Individual Returns Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

17. Portfolio Performance: Invested Portfolio Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings Portfolio StatisticsSMF Invested PortfolioS&P 500 › Return Total Return1.540.88 Mean Return (Annualized)28.7316.21 Mean Excess Return (Annualized)10.78 › Risk Standard Deviation (Annualized)12.2812.18 Downside Risk (Annualized)8.487.90 › Risk/Return Sharpe Ratio1.600.92 Jensen Alpha8.98 Information Ratio1.88

18. Sep 22, 2015December 1, 2015 ETF1,860,328.771,146,099 Equity- $869,774 Cash327 $8,067 Total1,860,655.77$2,023,940 Return8.78% Portfolio Performance: Total Portfolio Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

19. Consumer Discretionary: Leisure Products Unrealized Loss of 5.3% Reason for Underperformance Strong Dollar, softening economies abroad Sluggish Oil and Agricultural Markets Constraints for fast growing motorcycle business Future Outlook Zacks Rating: 1.85 (1-Buy, 5-Sell) 12/3/15 Operational Constraints Lifted Taking market share from Harley Davidson New ORV Mfg Facility, JV for Emerging Markets Worst Performing Stocks: Polaris Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

20. Consumer Discretionary: Leisure Products Unrealized gain of 14.7% Reason for over performance Exploring sale options Sole U.S. Transmission only company Future Outlook Generate a lot of interest from infrastructure funds Utility M&A are up among weaken electricity sales FERC Judge to decide on ROE reduction in Mid-Dec Best Performing Stock: ITC Holding Investment Philosophy and Strategy Process & Procedure Risk Management Economic Outlook Portfolio Analysis Performance Selected Holdings

21. Dr. Chinmoy Ghosh Dr. Michel Rakotomavo Laurel Grisamer Chris Wilkos Investment Advisory Board Members UConn Foundation Acknowledgements

22. Thank You Q&A

23. Stock/S&P 500 Comparison AAPLAT&T

24. Stock/S&P 500 Comparison AVBCOF

25. Stock/S&P 500 Comparison CVS DIS

26. Stock/S&P 500 Comparison GILDITC

27. Stock/S&P 500 Comparison KMXMDT

28. Stock/S&P 500 Comparison MLMMPC

29. Stock/S&P 500 Comparison PIIRAI

30. Stock/S&P 500 Comparison TOLLUPS

31. Stock/S&P 500 Comparison UTX