Exhibit 2 Fundamental Factor Model Micro-attribution Report for Winthrop's Portfolio Asset Allocation Asset Class US Stock Non-US Stock Bonds Other Cash Ner Classified Net 54.11 17.29 23.12 Short Long Cat Index 0.62 54.73 56.0746.63 1.48 18.77 1903 3357 0.83 2395 2251 19 66 000 0.08 164 .0.08 1392 18 98 7.03 000 038 1 29 008 0.08 508 036 000 100N 100 Exposure Sector Region vs. Otegory Sectors Basic Materials Fund 405 Category % 3.69 12.18 1225 Cyclical 17.21 16.44 3.14 4.33 3.94 Consumer Cyclical Financial Services Real Estate Communication Services Energy Industrials Technology Consumer Defensive Healthcare 3.19 5.49 Sensitive 6.02 10:17 2051 11.13 6.13 Defensive 19.35 7.97 13.07 3.08 12.67 3.98 Utilities As of Jun 30, 2013 gary Action 705108 Equity Sector data is based on 20 8. With the information from Exhibit 2 I talk about the overall asset allocation II. discuss the manager overweight and underweight which sectors and which style of a fund this could be