Consider the "BRINSON" sheet. The ALLOCATION component of the Active Return is: 0.21% -0.36% -1.25% -0.51% -0.25% 1.32% 3.21%

AutoSave O A A D> > . C ... x= Week 1 Quiz Data Q Search (Cmd + Ctrl + U) Home Insert Draw Page Layout Formulas Data Review View Automate Comments Share Calibri (Body) v 11 AA = General Conditional Formatting v Insert v Format as Table Ex Delete V v Z Paste E BIUV DVAv $ % :00 Sort & Find & Solver Cell Styles v Format Sensitivity Add-ins Analyze Filter Select Data M22 4 X V fx A B D E G H K L M N 0 P Q R S T W Portfolio Benchmark Weight Return Weight at beginning through the at beginning of | Return through 2 Asset Classes of year year year the year 3 Cash 10% 0.5% 6% 0.1% 4 Domestic Bonds 22% 1.0% 20% 3.0% 5 Foreign Bonds 10% 3.0% 15% 2.0% 6 Domestic Equities 17% 0.5% 14% -0.1% 7 Foreign Equitie 2% 1.0% 16% 4.0% 3 Mortages 5% 5.0% 3% 0.5% 9 Real Estate 16% 1.0% 20% 2.0% 10 Commodities 4% 12.0% 4% 10.0% 11 Private Equity 3% 2.0% 1% 1.0% 12 Hedge Funds 1% 1.0% 1% 3.0% 13 Total 100.00% 100.00% 14 15 16 17 18 19 20 21 23 24 26 35 36 37 38 39 40 41 FUND MONTHLY BRINSON + Ready 1 Accessibility: Good to go + 100%