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Hancock horizon funds Presented by: David Lundgren, Jr., CFA
Senior Vice President Managing Director
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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
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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
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Footprint Across the Gulf Coast
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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
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Overview of mutual funds
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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
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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
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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
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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
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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
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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
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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
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Average Net Assets by Type
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Rolling 12 Months Advisory Revenue
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