HWCP maintains a proprietary Dynamic Asset Allocation Model that utilizes state of the art processes in seeking to consistently identify through time the most attractive combination of risk adjusted return opportunities among the major asset classes and subsidiary investment styles identified by HWCP as providing a full and complete sample of the global investment opportunity set. These asset classes/investment styles are listed below and are in terms of a United States domiciled investor.

Through the recurring employment of this Model, HWCP will produce a series of multi-asset class portfolio allocation recommendations that correspond to each of the three Investor Profiles identified by HWCP as generally representing a full range of investor attitudes toward risk and return. These recommended asset class weightings are designed to maximize future investment return potential given the targeted level of allowable portfolio risk resident within each Investor Profile.

The Profiles have been named in order of increasing risk: Conservative, Balanced, and Dynamic, and are rebalanced quarterly.

HWCP Asset Classes/Investment Styles:

Alternative/Hedged: Arbitrage, Long/Short, Inverse, Market Neutral, Managed Futures, Factor/Style Specific

Global Hybrid: MLP, Gold, Preferred, Currency, Real Estate, Convertible, Commodity, Factor/Style Specific

Global Fixed Income: High Yield, Municipal, MBS, Sovereign Treasury, Intl. Investment Grade, Cash

Global Fixed Income (Specialty):Floating Rate, Bank Loan, TIPS, Target Maturity, Factor/Style Specific

Global Equity: Intl. Developed, Intl. Emerging, US Small Cap, US Mid Cap, US Large Cap

Global Equity (Specialty): Global Sector, Country Sector, Global Country/Region, Factor/Style Specific