Collective Services A collective investment fund (CIF) is a tax-exempt, pooled investment vehicle administered by and trust companies and authorized by the Office of the Comptroller of the Currency. While CIFs are similar to mutual funds in that they’re comprised of pooled assets invested with a specific philosophy and strategy, there are several factors that differentiate them from mutual funds:

• A simpler structure • Exemption from the Investment Company Act of 1940 • Lower operating costs

Advantages The Experts CIFs consist solely of assets that are exempt from At Hand Benefits & Trust (HBT), our collective trust, the federal income tax and are available to Qualified Hand Composite Employee Benefit Trust, was 401(k), Profit Sharing, Stock Bonus and established in May of 1964. Today 25 sub-advisors Plans along with 401(a) Government and 457(b) manage over 60 strategies (including various equity, Government plans. The best features of a CIF are: fixed income, alternative, asset allocation, and target date strategies) within the trust. HBT was a founding • Lower start-up and offering costs since they are only sold through IRC 401 (a) qualified trust company member of the NSCC back in 1997 and plans. currently communicates the daily net asset values for • Not subject to SEC rules thus have lower over 340 CUSIPs to the NSCC for daily trading within compliance costs (CIFs are exempt from SEC defined contribution and defined benefit plans. Our registration under both the Securities Act of collective funds are available on 34 trading platforms 1933 and the Investment Company Act of 1940). required by retirement plans and third party 401(k) • Not sold directly to the retail public. administrators including: STN, BMO Harris, Charles • Maintained as a tax-qualified retirement savings Schwab Trust Company, Broadridge (Matrix), TD vehicle; asset flows tend to be less volatile and Ameritrade, Fidelity, Merrill Lynch, Nationwide, there is no need to manage the investment to Reliance Trust Company, Wilmington Trust Company, minimize tax implications for . Benefit Plan Administrators, Wells Fargo , • Daily valued and NSCC tradable. Ascensus, SEI Private Trust Company, Empower, and • No minimum deposit requirements. Principal, to name a few. These links are critical to • Recordkeeper friendly; dividends & capital gains grow assets within CIFs. We have service agreements are not distributed. in place with each of these platforms and have built • Traded on multiple platform providers. custom interfaces to facilitate the trading of CIFs. • Advisors can get paid from CIFs like many other 401(k) investments, i.e., service fees built into many share classes of CIFs look like the same kind of fees built into many mutual funds. We’re the CIF experts you can trust. Collective Investment Funds We administer Collective Investment Funds available for trading through NSCC and major trading platforms. Below is a list of fund advisors and their respective fund offerings. Visit https://www.bpas.com/employers/services/hbt/ for fact sheets.

Hand Benefits & Trust Company Trademark Capital , Inc. Western Asset Management Company • HB&T Short Term Income Fund • Target Retirement Funds • Western Asset Core Bond CIF • HB&T Fixed Income Fund • Western Asset Core Plus Bond CIF • HB&T Large Cap 500 Index Fund Horizon Investments, LLC • Western Asset Income CIF • HB&T MetLife Stable Value Fund • Horizon Conservative Plus with Risk • Western Asset Long Duration Credit • MetLife Stable Value 32956 Fund Assist Fund CIF • Tactical Core Stable Value Fund • Horizon Conservative with Risk Assist • MIZAN All Equity Moderate Fund Todd Asset Management, LLC Allocation Fund • Horizon Moderate with Risk • Todd International Intrinsic Value Assist Fund Collective Fund HB&T/ETF Risk Based Strategy • Horizon Focused with Risk Assist Fund • Vanguard 100% Fixed Income • Horizon Growth with Risk Assist Fund Disciplined Growth Investors Mgd Trust • The DGI Growth Fund • Vanguard 20/80 Conservative Hamilton Capital Management, Inc. Mgd Trust • Hamilton Capital Dynamic Equity Fund AFL-CIO Housing Investment Trust • Vanguard 40/60 Moderate Mgd Trust • AFL-CIO Housing Investment Trust • Vanguard 60/40 Mod Aggressive Royce & Associates, LLC DVF Mgd Trust • Royce Total Return Collective Fund • Vanguard 70/30 Mod Aggressive • Royce Opportunity Collective Fund Beaumont Capital Management Growth Mgd Trust • BCM DynamicBelay Target Date Funds • Vanguard 80/20 Aggressive Goodwin Capital Advisers, Inc. • BCM Decathlon Growth Tactics CIF Mgd Trust • Conning-Goodwin Capital Core Plus • BCM U.S. Sector Rotation CIF • Vanguard 100% Equity Mgd Trust Bond CIF Snyder Capital Management, L.P. HB&T ClariVest Asset Management LLC • Snyder Capital Small/Mid-Cap Value • FACETS Target Retirement Funds • ClariVest Emerging Markets Collective Investment Fund • FACETS Lifestyle Funds Equity Collective Fund DSM Capital Partners, LLC HB&T/Target Date Solutions/PPCA, Sage Advisory Services, Ltd. Co. • DSM U.S. Large Cap Growth CIF Inc. • Sage Target Date Fund Series • SMART Funds® Index Target Date • Sage Risk Based Fund Series Vulcan Value Partners, LLC Funds • Sage Cash Balance Fund Series • Vulcan Value Partners Large Cap CIF

First Trust Advisors, L.P. Legg Mason Capital Management LLC ULLICO Investment Advisors, Inc. • All Equity Allocation Portfolio • Ullico J for Jobs Collective • Target Date Funds Brandywine Global Investment Investment Fund Management, LLC ABG, Consultants, LLC • Brandywine Global Investment Channing Capital Management, LLC • ABG Risk Based Funds Grade Income CIF • Channing SMID-Cap Intrinsic Value CIF Decatur Capital Management, Inc. ClearBridge Investments, LLC • Decatur U.S. ESG Enhanced Equity • ClearBridge Value Equity CIF River and Mercantile LLC CIF • ClearBridge Aggressive Growth CIF • River and Mercantile Long Credit • ClearBridge Small Cap CIF Fund Merganser Capital Management, Inc. • ClearBridge Large Cap Growth CIF • River and Mercantile Return • Merganser Short Term Bond Seeking Fund Institutional Trust QS Investors, LLC • International High Alpha • Merganser Core Bond Institutional • QS Investors Global DBI CIF • Emerging Markets Core Trust • QS U.S. Small Capitalization Equity • Emerging Markets Opportunities CIF GlobeFlex Capital, L.P. • GlobeFlex ACWI ex- U.S. Equity CIF Let’s talk CIFs: P 713-744-3826 Suffolk Capital Management, LLC • Suffolk Large Cap Growth [email protected]