1. Balanced Account Strategies in a Low Interest Rate Environment Jeffrey Brewer, Managing Director Bespoke financial vision

2. Central Bank Rates Fall to Record Lows Source: Bloomberg LP Licensed to conduct Investment Business by the Bermuda Monetary AuthorityPage 2 Coordinated Central Bank action has produced historic low interest rates

3. Licensed to conduct Investment Business by the Bermuda Monetary AuthorityPage 3 Opportunities Source: Bloomberg LP

4. Licensed to conduct Investment Business by the Bermuda Monetary AuthorityPage 4 Source: Bloomberg LP Opportunities

5. Focus On Portfolio Correlation Global bonds provide a diversifier for balanced portfolios Licensed to conduct Investment Business by the Bermuda Monetary AuthorityPage 5 Opportunities Correlation analysis uses monthly data from Dec 31, 1996 to Jan 31, 2013 for the S&P 500 Total Return Index and the Bank of America/Merrill Lynch Global Broad Market Excluding US Dollar Index Source: Anchor Investment Management, Bank of America/Merrill Lynch, Bloomberg. Correlation

6. Focus On Countries With Better Fundamental Metrics Total National Debt as % of GDP vs Central Bank Benchmark Interest Rates Licensed to conduct Investment Business by the Bermuda Monetary AuthorityPage 6 Opportunities *Non-financial corporate debt includes financial corporate debt. **Government debt includes state and local government debt. ***Total national debt includes government, state, local, household and corporate (financial and non-financial) debt; does not include off-balance sheet liabilities. Source: Anchor Investment Management, Bloomberg, National Statistic Offices and Central Banks.

7. Substitute Duration Risk for Credit Risk Short duration BB high yield bonds provide a substantial yield pick up without much duration risk in a low return interest rate environment. Licensed to conduct Investment Business by the Bermuda Monetary AuthorityPage 7 Opportunities Source: Bloomberg, Bank of America/Merrill Lynch Index metrics: Rating: BB Duration: 2.4 years Yield: 3.4% Spread: 275 bps The chart is be used for informational purposes only and Anchor does not guarantee future returns. Investment returns will vary and any historical results may not be considered representative of future returns.

8. Licensed to conduct Investment Business by the Bermuda Monetary AuthorityPage 8 A Laddered Fixed Income Approach Limits Interest Rate Risk US Government Bond Market Ladders Historical Annual Performance The chart is be used for informational purposes only and Anchor does not guarantee future returns. Investment returns will vary and any historical results may not be considered representative of future returns.. Source: Crestmont Research Opportunities

9. Licensed to conduct Investment Business by the Bermuda Monetary AuthorityPage 9 Opportunities

10. Licensed to conduct Investment Business by the Bermuda Monetary AuthorityPage 10 Jeffrey C. Brewer, Managing Director Anchor Investment Management Ltd. Mr. Brewer serves as Managing Director and Director of Research of Anchor Investment Management Ltd. He has 30 years of investment experience and extensive training in both the equity and fixed income disciplines. Prior to founding Anchor in 1996, Mr. Brewer was Director of Research of C.A.S.E. Management Inc. in the United States where he headed the investment policy board. Prior to this he was Vice President and Director of U.S. Quantitative Research at Daiwa Securities of America in New York City. He began his career as a quantitative research analyst and the co-developer of the C.A.S.E. Research System. He founded CASE International Ltd. (Bermuda) in 1985. Mr. Brewer graduated from Duke University in 1982 with a degree in Management Science. He currently sits on several investment policy boards and is a Director of Neptune Group Ltd. Contact Details: jbrewer@anchor.bmjbrewer@anchor.bm Website: www.anchor.bmwww.anchor.bm Telephone: 441-296-3515