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INVESTMENT PERFORMANCE
As of December 31, 2011
Time-Weighted Inception*
Rate of Return 1 Month 3 Months YTD 12 Months 18 Months
Cash & Equivalents .00 .01 .03 .03 .05
iMoneyNet Taxable .00 .00 .00 .00 .00
Fixed Holdings 1.21 1.54 4.59 4.59 4.40
Barclays Aggregate Bond Index 1,10 1.12 7.86 7.86 5.99
Total Equity -.25 10.88 -4.40 -4.40 13.42
Large Cap Fund .11 10.76 -3.24 -3.24 12.67
Standard& Poors 500 1.02 11.81 2.12 2.12 16.58
Small Cap Fund .81 16.70 1.40 1.40 21.72
Russell 2000 Index .66 15.48 -4.17 -4.17 15.41
International Equities -2.99 5.74 -16.48 -16.48 4.13
MSCI EAFE Index (Net) -.95 3.33 -12.13 -12.13 5.99
Real Estate Holdings 4.46 15.41 7.94 7.94 20.64
DJ Select REIT Index 4.74 15.43 9.24 9.24 21.28
Total Managed Portfolio .36 6.38 -.13 -.13 4.31
*Gradual purchases of equities and fixed income holdings caused Total Managed Portfolio results since inception to differ from individual sector results
Account Inception:7/1/2010
Returns are gross of account level investment advisory fees and net of any fees,including fees to manage mutual fund or exchange traded fund holdings.Returns for periods over
one year are not annualized.The information presented has been obtained from sources believed to be accurate and reliable.Past performance is not indicative of future returns.
Securities are not FDIC insured,have no bank guarantee,and may lose value.
JHIGHMARK® December 31, 2011 PARS: City Of Cupertino
CAPITAL MANAGEMENT
it Lot 1� L a a Ill _% LEI
ASSET ALLOCATION
As of December 31, 2011
Current Asset Allocation Investment Vehicle
12131/2011 12/31/2011
Equity 53.85%
Large Cap Core 5.01% SMGIX Columbia Contrarian Core Cl Z 477,717
5.03% EXEYX Manning and Napier Equity Fund 479,740
Large Cap Value 1.80% HMIEX HighMark Large Cap Value 171,515
4.34% PRFDX T. Rowe Price Equity Income Fund 414,170
7.03% LSGIX Loomis Sayles Value Fund 670,096
Large Cap Growth 4.74% HACAX Harbor Capital Appreciation Instl 451,858
5.03% PRGFX T. Rowe Price Growth Stock Fund 479,789
Mid Cap Value 2.80% TTMVX TIAA-CREF Mid-Cap Value Instl 266,863
Mid Cap Growth 2.01% PNMFX HighMark Geneva Mid Cap Growth Fund 191,659
Small Cap Value 3.84% NSVAX Columbia Small Cap Value Fund II 366,106
Small Cap Growth 2.36% PRNHX T. Rowe Price New Horizons Fund 224,893
International Core 1.76% HIOFX HighMark International Opportunity Fund 167,541
International Value 1.76% DODFX Dodge& Cox International Stock Fund 167,369
International Growth 1.78% MQGIX MFS International Growth Fund 169,651
Emerging Markets 3.01% RSENX RS Emerging Markets Y 286,681
Real Estate 1.56% FARCX Nuveen Real Estate Secs I 148,637
Fixed Income 43.10%
Short-Term 11.48% VFSUX Vanguard Short-Term Corp Adm Fund 1,094,190
Intermediate-Term 15.94% HMBDX HighMark Bond Fund 1,519,507
15.69% PTTRX PIMCO Total Return Instl Fund 1,496,117
Cash 3.050/6
3.05% HMDDX HighMark Diversified MM Fund 290,424
TOTAL 100.00% $9,534,524
JHIGHMARK® December 31, 2011 PARS: City Of Cupertino
CAPITAL MANAGEMENT