1. Hancock horizon funds Presented by: David Lundgren, Jr., CFA
Senior Vice President
Managing Director

2. Hancock Holding Company Overview
Commitment to Service
Hancock Horizon Advisers is a division of Whitney Bank, an institution founded more than a century ago on ideals of Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork and Personal Responsibility
Strength & Stability
Whitney Bank earned five-star excellent recommended designations from BauerFinancial, Inc. based on September 30, 2014 results
Earned top customer service marks with Greenwich Excellence Awards in 2014
Bauer Rating: For the 101st consecutive quarter confirmed as one of the strongest, safest banks in the United States
Veribanc: Blue Ribbon
In 2012, was listed in top-20 of Forbes America’s Best Banks for the second year in a row
One Strong Future
Approximately $21 billion in total assets
Approximately 3,800 employees across bank footprint
Over 200 banking and financial services offices in Louisiana, Mississippi, Alabama, Florida and Texas
Headquarters located in New Orleans, LA 2

3. Trust & Asset Management Depth of Services and Resources
Manages assets for high net worth and institutional clients including pension plans, endowments, foundations, government entities, corporations, trusts and estates.
Investment styles are also offered as mutual funds through the Hancock Horizon Family of Funds
Information about our firm is submitted to the following databases: eVestment Alliance, PSN Informa, Zephyr, Equest, Morningstar, Callan, and Wilshire Odyssey
Investment Styles:
Equity: Large Cap Core, Value, Growth, Small Cap Regional, Small Cap National, International and Dividend Income
Fixed Income: Intermediate Duration, Short Duration, High Yield, Government and Tax-free Income
Alternative: Long/Short, Diversified Income, Preferred Stock, Dynamic Global , Master Limited Partnerships (MLPs) and Real Estate Investment Trust (REITs) 3

4. Footprint Across the Gulf Coast4

5. Investment Management Team
John Portwood, CFA
Chief Investment Strategist
Luther McDougal, CFA
Trading & Performance
Bryan McCaulley, CFA
Performance Analyst
Shaw Breland
Equity Trader
Sean Petri
Fixed Income Trader
Gayle Juneau
Investments Administrator
Jeffery Tanguis
Director of Fixed Income
Nathan Grant, CFA
Credit Analyst
David Lundgren, CFA
Managing Director
Sarah Carter
Portfolio Manager
Kristy Oehms
Quantitative Analyst
Paula Chastain
Jacob Hartl, CFA
Greg Hodlewsky, CFA
Equity & Portfolio Management
Steve Solomon, CFA
Anthony Slovick, CFA
Austin Zaunbrecher, CFA 5

6. Overview of mutual funds

7. Meet the Family
The Hancock Horizon Funds were launched on May 31, 2000, with three funds and assets of $240 million.
As of 12/31/2014, Hancock Horizon Funds offers eleven funds and has assets of approximately $2.4 billion:
Government Money Market Fund; May 31, *
Growth Fund; January 2001
Quantitative Long/Short Fund; September 2008
Core Bond Fund; May 31, 2000
U.S. Small Cap Fund; December 2013
Louisiana Tax-Free Income Fund; February 2011
Burkenroad Small Cap Fund; December 2001
Mississippi Tax-Free Income Fund; February
Diversified International Fund; September 2008
Diversified Income Fund; September 2012
Value Fund; May 31, 2000 7

8. Why Proprietary Funds Investment Management Infrastructure
Already in place
Distribution of Investment Management Services
To clients with smaller assets
To non-bank clients
Maximize Shareholder Value 8

9. What is SEI’s Advisors’ Inner Circle Trust (“AIC”)?
Turnkey, bundled solution that investment managers can leverage to launch and grow mutual funds while focusing on:
Investment performance, and
Investor relations
Provides complete infrastructure for offering mutual funds
Governance Infrastructure
Board of Trustees
Fund Counsel/Independent Trustee Counsel
Compliance Infrastructure
CCO
Compliance Program
Operational Infrastructure
Administrator and Fund Accountant
Distributor
Transfer Agent
Custodian
Independent Public Accountant
Market leader and pioneer 9

10. Principal Underwriter Independent Public Accountant
Business Structure Hancock Horizon Funds
Fund Shareholders
Fund Board of Directors
(Majority of board must be independent directors)
Oversee the fund’s activities, including approval of the contracts with the management company and certain other service providers
Mutual Fund
Investment Adviser
Manages the fund’s portfolio according to the objectives and policies described in the fund’s prospectus
Principal Underwriter
Sells fund shares, either directly to the public or through other firms(e.g. broker dealers
Administrator
Oversees the performance of other companies that provide services to the fund and ensures that the fund’s operations comply with requirements
Transfer Agent
Executes shareholder transactions, maintains records of transactions and other shareholder account activity, and send account statements and other documents to shareholders
Custodian
Holds the fund’s assets, maintaining them separately to protect shareholder interests
Independent Public Accountant
Certifies the fund’s financial statements. 10

11. Comprehensive Services under AIC
Advisors’ Inner Circle Umbrella Trust
SEI Board of
Trustees
Fund CCO & AML Compliance Officer
Fund Compliance Program
Sarbanes Oxley
President & CFO
Joint Insurance
Policies
Accounting
Services
Administrative
Compliance
Experienced
Independent
Fund Governance
and oversight
15c Review
Annual Review
Compliance oversight
Compliance Consults
Fund Level SEC exam
Independent 38a-1 testing
Board Reporting
Regular Review of
Internal Controls
Prepare Financial Stmts.
Certify Financial Stmts.
Reduced Premiums
Improved Coverage
Fund Counsel
Board Meeting Minutes
SEC Exam Ownership
Review Regulatory
Documents
Official Books & Records
Daily NAV Calculation
SSAE 16
Financial Statements
Tax Return Prep
Tax Return Filing
Post Trade-Advisor Alert
Quarterly Checklists
SEC Exam Assistance
Distribution
Dealer Agreement Coordination
Call Center
FINRA Review / Filing
Regulatory Report Printing, Mailing & Fulfillment
Legal
Standard Services
Provided by SEI
Additional Services Under AIC Trust
Key
Oversight of all service providers – Transfer Agent, Custodian, Independent Public Accountant 11

12. Core Execution & Implementation
Comprehensive Distribution Services
Intermediary Agreement Support
Marketing Review & Compliance
Contact
Center
Distribution Insights
Platform Sales Solution
Core Execution & Implementation
Knowledge
Dealer Agreement Management Process
Master Agreement Strategy
Workflow Technology
FINRA Series 24 Licensed Personnel
Workflow & Recordkeeping Technology
Marketing Compliance Training
Marketing Partners
Inbound Intermediary & Shareholder Call / Support
Outbound Call Support Capabilities
FINRA Series 7 Licensed Personnel
SEI Knowledge Partnership
Conferences & Web Seminars
Strategy Briefs
Share class development
Platform Strategy Development
Distribution and sales planning
Market and competitive intelligence
3 Main Components
Knowledge – cornerstone Knowledge Partnership activities. Help client understand environment and think through opps.
Execution & Implementation – helping clients but their strategy into practice
Solution Management & Client Support – ensure the other components are delivered to clients and in some cases facilitating that support.
Solution Benefits
Speed to market
Scale
Sales planning
Fact sheets
Prospectus
Website
Messaging
Skilled team
Lead generation
Strategic planning
Thought leadership
Business plan execution
Solution Management - Client Support
Ensure service and response level
Activity & status reporting 12

13. Board Membership Criteria
Ability to review and understand information about the Funds provided to them by management
Identify and request other information they may deem relevant to the performance of their duties
Question management and other service providers regarding material factors bearing on the management and administration of the Funds
Exercise their business judgment in a manner that serves the best interests of the Funds’ shareholders.
In its periodic assessment of the effectiveness of the Board, the Board considers the complementary individual skills and experience of the individual Trustees primarily in the broader context of the overall composition so that the Board, as a body, possesses the appropriate (and appropriately diverse) skills and experience to oversee the business of the funds 13

14. Average Net Assets by Type14

15. Rolling 12 Months Advisory Revenue15