Stephens Mid Cap Growth Strategy

Mid Cap Performance

* Strategy Assets are shown as Supplemental Information as these assets include mutual funds assets and UMA assets managed within the Mid Cap Growth Strategy.
** Results shown for the year 2006 represent partial period performance from June 2, 2006 through December 31, 2006.
N.A. - Information is not statistically meaningful due to an insufficient number of portfolios in the composite for the entire year. Mid Cap Growth Separate Account Composite contains fully discretionary accounts invested primarily in mid cap common stock of U.S. companies. Under normal conditions, securities purchased for this composite have market capitalizations between $1.0 billion and the market capitalization of the largest company in the Russell Midcap® Index at the time of initial purchase which appear to have clear indicators of future earnings growth or that appear to demonstrate other potential for growth of capital. In addition to common stock the composite may also purchase convertible and preferred stock as well as certain Exchange Traded Funds. This composite is actively managed and securities in the composite are frequently purchased and sold by the manager. For comparison purposes the composite is measured against the Russell Midcap® Growth Index.

Stephens Investment Management Group, LLC claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Stephens Investment Management Group has been independently verified for the periods December 1, 2005 through December 31, 2013. Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. The Mid Cap Growth Separate Account Composite has been examined for the periods June 2, 2006 through December 31, 2013. The verification and performance examination reports are available upon request.

Stephens Investment Management Group, LLC is a registered investment advisor specializing in equity investment management, specifically small and mid-capitalization growth companies. The firm maintains a complete list and description of composites, which is available upon request.

Results are based on fully discretionary accounts under management, including those accounts no longer with the firm. Past performance is not indicative of future results.

The U.S. Dollar is the currency used to express performance. Returns are presented gross and net of fees and include the reinvestment of all income. Net of fee performance is calculated using actual fees incurred. Policies for valuing portfolios, calculating performance, and preparing compliant presentations are available upon request.

The management fee schedule begins at 1.00% of assets under management. Actual investment advisory fees incurred by clients may vary.

The Mid Cap Growth Separate Account Composite was created June 2, 2006.

Prior to September 1, 2011, composite policy required the temporary removal of any account from the composite which incurred a client initiated significant cash inflow or outflow of 10% or more of the value of the net assets of the account in any 30 day period. The temporary removal of such an account occurred at the beginning of the month in which the significant cash flow occurred and the account re-entered the composite at the beginning of the month after the cash flow. This policy was deleted effective September 1, 2011. Additional information regarding the treatment of significant cash flows is available upon request.