Top performing managers by category: separate accounts, 3rd Quarter 2018

Large Blend 1 year gross return 1 year net return
Euclid Advisory Large Cap Growth 29.74 28.34
Calvert US Lg Cap Core Responsible strgy 18.30 24.65
Wright Large Cap Core Equity 24.93 24.30
WJA Equity Oriented Compsit (Eq Asst Cl) 23.79 23.58
Fisher US Total Return 23.26 22.95
Cognios Quantitative Large Cap Value 23.03 22.95
Profit Inv Mgt (PIM) Profit Lg-Cap Eq 22.99 22.87
GMO Quality Strategy 23.22 22.59
Jacobs Levy Core Equity (Russell 3000) 22.65 22.08
SaratogaRIM Large Cap Quality Focus 22.74 22.04
Source: Morningstar Separate Account/CIT Fund Database
Large Blend 5 year gross return 5 year net return
Euclid Advisory Large Cap Growth 19.60 18.18
Mellon Capital Dynamic U.S. Equity Comp 17.18 16.63
Wright Large Cap Core Equity 16.71 16.17
Alpha Quant SmartALPHAˆ® Defensive Gr 17.44 16.15
Fisher US Total Return 16.36 16.04
Jacobs Levy Large Cap (S&P 500) 16.11 15.56
Calvert US Lg Cap Core Responsible strgy 14.12 15.17
Jacobs Levy Core Equity (Russell 3000) 15.71 15.16
Oak Associates Select Gr Portfolio 15.89 15.14
TCW Alpha Trak 15.81 15.06
Source: Morningstar Separate Account/CIT Fund Database
Mid-Cap Blend 1 year gross return 1 year net return
Great Lakes Disciplined SMidCap 22.69 22.17
WFAM Select Equity 22.87 21.67
Calvert U.S. Mid Cap Core Resp Index 15.20 20.50
Great Lakes SMidCap ESG 21.03 20.23
CRM Small/Mid Cap Value Separate Account 20.16 19.55
Boston Trust Mid Cap Equity 19.96 18.83
Boston Trust SMID Cap Equity 19.14 18.02
CRM Mid Cap Value Separate Account 18.66 17.85
New Amsterdam Md-Cap Active Eq 17.57 17.19
Janus Henderson Opportunistic Alpha 17.94 17.19
Source: Morningstar Separate Account/CIT Fund Database
Mid-Cap Blend 5 year gross return 5 year net return
LaSalle Street SMID 15.35 14.23
Bahl & Gaynor - Small/Mid Cap Income Gr 14.32 13.99
Zacks Mid-Cap Core Strategy 14.80 13.98
EARNEST Mid Cap Value 14.52 13.37
Scout Mid Cap Equity 14.12 13.23
Clarkston Capital SMID Composite 13.75 13.18
EARNEST Md-Cap 14.31 13.16
Fisher Small and Mid Cap Value 13.78 12.98
OakBrook Mid-Cap 13.02 12.78
River Road Focused Absolute Value Comp 13.40 12.76
Source: Morningstar Separate Account/CIT Fund Database
Small Blend 1 year gross return 1 year net return
Quantum Micro Cap 27.52 25.65
Wellington Small Cap Opportunities 26.67 25.53
Jacobs Levy Small Cap (S&P 600) 25.97 24.93
Reinhart Partners Genesis PMV 25.74 24.76
Fuller & Thaler Small-Cap Core 24.82 24.19
Calvert Small Cap Core Strategy 20.09 23.39
Wakefield Small Cap Equity 24.80 23.25
Pacific Income Small Cap Core 24.33 23.11
Investment Management of Virginia Sm Cap 23.66 22.98
Algert US Small Cap 22.97 21.89
Source: Morningstar Separate Account/CIT Fund Database
Small Blend 5 year gross return 5 year net return
Jacobs Levy Small Cap (S&P 600) 17.77 16.80
Wakefield Small Cap Equity 17.91 16.37
Fuller & Thaler Small-Cap Core 16.02 15.25
Algert US Small Cap 15.98 14.96
Wellington Small Cap Opportunities 15.71 14.68
Jacobs Levy Small Cap (Russell 2000) 15.34 14.38
Piedmont Optimized SMid Core 14.54 14.13
361 U.S. Small Cap Equity 14.78 13.73
Martingale Low Volatility SmallCap+ 14.62 13.54
Systematic Small Cap Free Cash Flow 14.54 13.46
Source: Morningstar Separate Account/CIT Fund Database
Large Growth 1 year gross return 1 year net return
Morgan Stanley Multi Cap Growth 48.86 47.48
Baillie Gifford US Equities 45.97 45.12
Elemental Capital Focused Growth 43.34 40.94
Ithaka Growth Portfolio 40.06 39.41
MRM All Domestic Equity 39.99 38.37
Morgan Stanley Growth 38.84 37.87
Baron High Growth Strategy 39.03 37.71
Zevenbergen Growth Equity 37.96 37.50
Next Century Growth Large Cap 37.97 37.15
Peregrine Capital Mgt Large Cap Growth 36.70 36.11
Source: Morningstar Separate Account/CIT Fund Database
Large Growth 5 year gross return 5 year net return
ARI Global Opportunities (ESG) 21.27 21.27
Peregrine Capital Mgt Large Cap Growth 20.81 20.29
Baillie Gifford US Equities 20.81 20.08
Morgan Stanley Multi Cap Growth 21.07 19.90
Edgewood Mgt Lg-Cap Gr 20.64 19.63
Morgan Stanley Growth 20.26 19.38
Cognios Quantitative Large Cap Growth 19.92 19.31
Polen Focus Growth 19.76 19.15
LEIA CBI 18.70 18.70
Cookson Peirce All-Cap Equity MA 19.07 18.49
Source: Morningstar Separate Account/CIT Fund Database
Mid-Cap Growth 1 year gross return 1 year net return
Morgan Stanley Mid-Cap Growth Strategy 46.97 45.80
Advisory Research U.S. Mid Cap Growth 46.58 45.39
Stephens SMID Select Growth 40.65 40.27
Summit Creek SMid Cap Growth 39.34 38.04
Macquarie Mid Cap Growth 36.50 35.70
Crow Point Mid Cap Growth 35.52 35.52
Kayne Anderson Rudnick Mid Sustain Gr 35.71 34.75
AB US SMID Cap Growth 35.59 34.33
Night Owl All Cap 35.14 33.60
ClearBridge SMID Cap Growth 34.52 33.41
Source: Morningstar Separate Account/CIT Fund Database
Mid-Cap Growth 5 year gross return 5 year net return
Fiera Mid Cap Growth 17.78 16.65
Snyder Capital Mgt Concen All-Cap Value 17.26 16.14
Dorsey Wright Sys Reltv Strength Core 17.62 15.77
Essex Inv Mgt Research Strategy 16.81 15.68
Janus Henderson Mid Cap Growth 16.34 15.59
Sandhill Concentrated Equity Alpha 16.51 15.56
Sandhill Concentrated Equity Alpha Wrap 16.52 15.52
Dorsey Wright Sys Reltv Strength Agg 17.12 15.41
Curran Mid Cap Core Growth Equity 16.19 15.36
William Blair Small-Mid Cap Growth 16.34 15.24
Source: Morningstar Separate Account/CIT Fund Database
Small Growth 1 year gross return 1 year net return
Spouting Rock Small Cap Growth - Conc. 71.20 69.81
Granahan Inv Mgt - Sm Cap Focused Grth 66.45 65.15
Advisory Research U.S. Small Cap Growth 62.76 61.27
Next Century Growth Micro Cap Growth 61.81 60.79
Macquarie Small Cap Growth 59.96 58.51
Alger Small Cap Focus Composite 53.69 52.64
Granahan SC Advantage 49.72 49.13
Driehaus Small Cap Growth 47.09 46.00
Wasatch Small Cap Ultra Growth Composite 46.64 45.23
Crow Point Small Cap Growth 45.53 44.74
Source: Morningstar Separate Account/CIT Fund Database
Small Growth 5 year gross return 5 year net return
Granahan Inv Mgt - Sm Cap Focused Grth 20.71 19.94
Kayne Anderson Rudnick SC Sustain Growth 21.08 19.90
Friess Small Cap Growth 20.66 19.60
Ashford Small Company Growth 19.88 19.02
Driehaus Micro Cap Growth 19.72 18.53
Kayne Anderson Rudnick SC Quality Select 19.64 18.14
Granahan Inv Mgt Small Cap Discoveries 18.65 17.98
Brown Capital Small Company 18.96 17.90
Fuller & Thaler Small-Cap Growth 18.69 17.83
Driehaus Small Cap Growth 18.12 17.09
Source: Morningstar Separate Account/CIT Fund Database
Large Value 1 year gross return 1 year net return
O'Shaughnessy Market Leaders Core 20.06 19.55
PVG U.S. Value 19.94 19.18
TWIN Dividend Select (Low Vol) 19.43 19.03
AJO Top Cap 19.04 18.83
Cognios TE Quantitative Large Cap Value 18.82 18.82
Brandywine Dynamic Large Cap Value 19.12 18.35
Invesco US Quantitative Core 18.95 18.31
WFAM Golden Disciplined US Div Yield 18.50 17.80
Avalon U.S. Value Equity 17.44 17.76
Alpha Quant Value Equity 18.82 17.55
Source: Morningstar Separate Account/CIT Fund Database
Large Value 5 year gross return 5 year net return
Alpha Quant Value Equity 16.80 15.53
Levin Capital All-cap 15.89 14.75
AJO Top Cap 14.65 14.39
OFI Global Revenue Weighted Dividend 14.03 13.71
Manning & Napier Disciplined Value-U.S. 14.14 13.49
WFAM Golden Disciplined US Div Yield 13.65 13.49
Martingale LargeCap Core 500 13.97 13.40
TWIN Dividend Select (Low Vol) 13.77 13.38
Convergence Unbiased Enhanced Index 13.56 13.36
O'Shaughnessy Market Leaders Core 13.96 13.34
Source: Morningstar Separate Account/CIT Fund Database
Mid-Cap Value 1 year gross return 1 year net return
SiM Apex Value Fund 41.25 39.92
DOMO Concentrated All Cap Value 33.83 31.34
MAP US Multi-Cap Value Composite 22.19 21.00
Shapiro Capital All Cap Opportunity 18.61 17.66
Speece Thorson Mid-Cap Value Equity 17.02 16.33
Financial Trust Discplnd Dividend Income 16.64 15.23
Clifford Capital All-Cap Value 15.29 14.91
Ariel Small/Mid Cap Value Product 15.85 14.72
AJO Managed Volatility 14.77 14.69
Heartland Opportunistic Value Equity 15.37 14.56
Source: Morningstar Separate Account/CIT Fund Database
Mid-Cap Value 5 year gross return 5 year net return
DOMO Concentrated All Cap Value 23.86 21.86
Levin Capital Mid-cap 17.17 16.02
Shapiro Capital All Cap Opportunity 16.51 15.45
Smith Graham Mid-Cap Value 15.20 14.34
MAP US Multi-Cap Value Composite 14.91 13.80
Clifford Capital All-Cap Value 14.42 13.74
AJO Managed Volatility 13.52 13.32
Sycamore Mid Cap Value Comp 14.00 13.15
Martingale MidCap Core 13.55 12.78
Smith Graham SMID (Small/Mid) Cap Value 13.56 12.73
Source: Morningstar Separate Account/CIT Fund Database
Small Value 1 year gross return 1 year net return
Brandywine Small Mid Cap Val Eq 27.26 26.15
Brandywine Institutional Small Cap Value 22.94 21.75
Bridgeway Small Cap Value 17.67 16.98
AJO Small Cap 15.58 15.22
Snow Capital Mgt Small Cap Value Eq 15.99 14.90
Triad Small-Cap Equity 15.34 14.81
O'Shaughnessy Micro Cap 15.69 14.53
DePrince, Race & Zollo, Micro Cap Val 15.44 14.35
Huber Select SMID Cap Value 14.39 13.98
BirdRock Small Cap Value 14.84 13.82
Source: Morningstar Separate Account/CIT Fund Database
Small Value 5 year gross return 5 year net return
Hotchkis & Wiley -Small Cap Divsfd Value 13.91 13.13
Opus Cap Small Cap Value Plus 13.43 12.97
Sycamore Small Cap Value Comp 14.06 12.95
O'Shaughnessy Micro Cap 14.11 12.93
Fuller & Thaler Small-Cap Value 13.12 12.67
Jacobs Levy Sm Cap Val (R 2500 Val) 13.24 12.30
Foundry Partners Micro Cap Value 13.16 12.10
WFAM Special US Small Cap Value Eq 13.15 12.03
BMO Disciplined SCV Composite 12.75 11.77
AB Small Cap Value Equity 12.88 11.77
Source: Morningstar Separate Account/CIT Fund Database
Bear Market 1 year gross return 1 year net return
Triboro Alternative -4.23 -4.23
Source: Morningstar Separate Account/CIT Fund Database
Bear Market 5 year gross return 5 year net return
Triboro Alternative 0.00 0.00
Source: Morningstar Separate Account/CIT Fund Database
Financial 1 year gross return 1 year net return
Manole Fin Tech 24.01 22.82
ZPR Volume Winners 12.62 11.08
ZPR Volume Value 7.61 5.91
McKinley Capital Business Development Co 4.14 3.04
Confluence BDC-Wrap 3.64 2.15
Source: Morningstar Separate Account/CIT Fund Database
Financial 5 year gross return 5 year net return
ZPR Volume Value 19.61 17.69
ZPR Volume Winners 18.37 16.50
Confluence BDC-Wrap 5.32 3.88
Manole Fin Tech 0.00 0.00
McKinley Capital Business Development Co 0.00 0.00
Source: Morningstar Separate Account/CIT Fund Database
Health 1 year gross return 1 year net return
Nicholas Inv-Healthcare Opportunities 39.41 33.38
Janus Henderson Global Life Sciences 18.32 17.59
Financial Trust Health Value 11.18 9.80
Source: Morningstar Separate Account/CIT Fund Database
Health 5 year gross return 5 year net return
Janus Henderson Global Life Sciences 16.46 15.73
Financial Trust Health Value 13.20 11.80
Nicholas Inv-Healthcare Opportunities 0.00 0.00
Source: Morningstar Separate Account/CIT Fund Database
Natural Resources 1 year gross return 1 year net return
GMO Resources Strategy 16.50 15.76
Wellington Global Natural Resources 14.91 13.78
Investec Global Natural Res Composite 12.43 11.60
Cohen & Steers Natural Resources 10.95 10.23
Jennison Global Natural Resources 8.67 8.04
KBIGI Global Resource Solution 3.58 2.70
Financial Trust Global Resources -2.06 -3.28
SailingStone Global Natural Resources -14.10 -14.71
Source: Morningstar Separate Account/CIT Fund Database
Natural Resources 5 year gross return 5 year net return
GMO Resources Strategy 6.18 5.49
Cohen & Steers Natural Resources 2.76 2.09
Wellington Global Natural Resources 1.67 0.66
Investec Global Natural Res Composite 1.15 0.35
Financial Trust Global Resources -0.78 -2.01
Jennison Global Natural Resources -3.55 -3.94
SailingStone Global Natural Resources -9.07 -9.67
KBIGI Global Resource Solution 0.00 0.00
Source: Morningstar Separate Account/CIT Fund Database
Equity Precious Metals 1 year gross return 1 year net return
WFAM Precious Metals -20.59 -21.36
GAMCO Gold -23.64 -24.28
Source: Morningstar Separate Account/CIT Fund Database
Equity Precious Metals 5 year gross return 5 year net return
GAMCO Gold -3.15 -4.10
WFAM Precious Metals -4.91 -5.82
Source: Morningstar Separate Account/CIT Fund Database
Real Estate 1 year gross return 1 year net return
Ranger Global Real Estate 9.89 9.02
Anchor REIT 7.58 7.06
Sterling Stratton Real Estate Composite 7.16 6.47
PGI Real Estate Equity Securities 7.03 6.45
Cohen & Steers US Realty Total Return 6.81 5.95
CenterSquare REIT Separate Account 5.84 5.39
Morgan Stanley U.S Real Estate 6.22 5.29
LaSalle U.S. Real Estate Securities 5.91 5.27
Cohen & Steers US Realty Focus 5.87 5.11
Heitman US RE Securities 5.64 5.08
Source: Morningstar Separate Account/CIT Fund Database
Real Estate 5 year gross return 5 year net return
Cohen & Steers US Realty Focus 13.59 12.63
Heitman US Focused RE Securities 11.82 11.09
Heitman US RE Securities 11.57 11.05
Anchor REIT 11.28 10.70
PGI Real Estate Equity Securities 11.24 10.63
CenterSquare REIT Separate Account 10.75 10.21
Sterling Stratton Real Estate Composite 10.68 10.03
Chilton Capital REIT 10.96 10.01
Cohen & Steers US Realty Total Return 10.71 9.80
Wellington Real Estate Securities 10.48 9.66
Source: Morningstar Separate Account/CIT Fund Database
Technology 1 year gross return 1 year net return
Zevenbergen Genea Growth 59.99 58.59
AllianzGI Global Technology Equity 41.50 40.13
RS Science And Technology Composite 34.76 33.41
MFS Technology Equity 34.00 33.03
QID U.S. Titans Equity Strategy 32.05 32.05
Janus Henderson Global Technology 30.93 30.11
Wellington Global Technology Opps 22.79 21.86
Oak Associates Technology Portfolio 23.22 21.40
Wellington Global Technology 21.99 21.09
Crabtree Multi-Cap Technology 14.08 13.36
Source: Morningstar Separate Account/CIT Fund Database
Technology 5 year gross return 5 year net return
Zevenbergen Genea Growth 23.52 22.42
MFS Technology Equity 21.97 21.07
AllianzGI Global Technology Equity 21.86 20.78
RS Science And Technology Composite 21.70 20.51
Janus Henderson Global Technology 21.04 20.27
Wellington Global Technology Opps 20.47 19.57
Wellington Global Technology 20.18 19.30
Oak Associates Technology Portfolio 19.41 18.47
Crabtree Multi-Cap Technology 16.57 15.79
Princeton Young Enterprise Shares (YES) 6.78 5.65
Source: Morningstar Separate Account/CIT Fund Database
Utilities 1 year gross return 1 year net return
MFS Utilities Equity 4.99 4.33
Miller/Howard – Utilities Plus 4.71 3.67
Wellington Enduring Assets 1.78 1.18
Source: Morningstar Separate Account/CIT Fund Database
Utilities 5 year gross return 5 year net return
Miller/Howard – Utilities Plus 9.96 8.88
Wellington Enduring Assets 8.41 7.57
MFS Utilities Equity 6.89 6.20
Source: Morningstar Separate Account/CIT Fund Database
Equity Energy 1 year gross return 1 year net return
Baron Energy and Resources Strategy 13.67 13.02
Miller/Howard E&P Institutional Strategy 13.81 12.69
Wellington Energy 13.49 12.35
Tortoise Select Energy Opportunity 12.34 11.40
Miller/Howard Drill Bit Burn Tipˆ® No K1s 10.08 8.99
Orleans Energy Opportunities 8.89 7.81
Drill Bit to Burner Tipˆ® No K1s SMA 9.77 6.55
Miller/Howard Drill Bit Burn Tipˆ® 7.54 6.48
Drill Bit to Burner Tipˆ® SMA 7.27 4.11
Source: Morningstar Separate Account/CIT Fund Database
Equity Energy 5 year gross return 5 year net return
Miller/Howard Drill Bit Burn Tipˆ® 3.37 2.34
Miller/Howard Drill Bit Burn Tipˆ® No K1s 2.88 1.85
Tortoise Select Energy Opportunity 1.77 0.80
Drill Bit to Burner Tipˆ® SMA 3.33 0.28
Drill Bit to Burner Tipˆ® No K1s SMA 2.94 -0.10
Wellington Energy 0.59 -0.42
Baron Energy and Resources Strategy -3.70 -4.31
Miller/Howard E&P Institutional Strategy -5.77 -6.72
Orleans Energy Opportunities -7.16 -8.09
Source: Morningstar Separate Account/CIT Fund Database
Aggressive Allocation 1 year gross return 1 year net return
Dorsey Wright Sys Reltv Strength Bal 21.98 20.90
Niemann Risk Managed US Equity 21.70 19.47
Nuveen Stable Gr Bal Advsr Spnsrd 21.79 18.25
Congress Asset Mgt Multi-Cap Balanced 16.57 16.15
Atalanta Sosnoff Balanced 16.31 15.78
NorthCoast Growth 15.90 14.69
Calamos US Opportunities Composite 15.37 14.61
Eads & Heald Wealth Managment Bal 14.62 13.67
Clark Navigator MultiStrategy 75-25 13.73 13.33
Herzfeld US Equity Closed-End 14.35 13.24
Source: Morningstar Separate Account/CIT Fund Database
Aggressive Allocation 5 year gross return 5 year net return
Dorsey Wright Sys Reltv Strength Bal 13.22 12.03
Clark Navigator MultiStrategy 75-25 11.51 11.12
Kensington Income Equity 10.63 10.56
Atalanta Sosnoff Balanced 11.14 10.40
Niemann Risk Managed US Equity 12.21 10.11
Calamos US Opportunities Composite 10.74 10.01
Eads & Heald Wealth Managment Bal 10.66 9.74
NorthCoast Growth 10.61 9.36
ASAP Conservative Growth Strategy 9.23 8.98
Nuveen Stable Gr Bal Advsr Spnsrd 12.27 8.98
Source: Morningstar Separate Account/CIT Fund Database
Bank Loan 1 year gross return 1 year net return
DDJ Bank Loan Strategy 8.87 8.29
Octagon Senior Secured Credit 7.43 6.72
Eaton Vance Mgt Senior Secured Floating 6.28 5.79
Columbia Bank Loan Strategy 6.33 5.66
OFI Global Senior Loans 6.17 5.66
Barings U.S. Senior Secured Loans 6.18 5.64
Pacific Corporate Bank Loan Composite 5.78 5.53
Loomis Sayles Sr Floating Rate and FI 5.98 5.45
Lord Abbett & Co. Bank Loan 5.84 5.16
PGIM Fixed Inc US Sr Sec Loans Composite 5.72 5.14
Source: Morningstar Separate Account/CIT Fund Database
Bank Loan 5 year gross return 5 year net return
Octagon Senior Secured Credit 5.95 5.26
Loomis Sayles Sr Floating Rate and FI 5.52 4.99
Pacific Corporate Bank Loan Composite 4.75 4.70
OFI Global Senior Loans 5.13 4.63
MacKay Hi Yld Floating Rate Composite 5.04 4.42
Eaton Vance Mgt Senior Secured Floating 4.92 4.42
Columbia Bank Loan Strategy 4.99 4.36
PGIM Fixed Inc US Sr Sec Loans Composite 4.91 4.34
Lord Abbett & Co. Bank Loan 4.85 4.31
Invesco Euro Bank Loans Euro Composite 4.78 4.26
Source: Morningstar Separate Account/CIT Fund Database
Small Value 1 year gross return 1 year net return
Brandywine Small Mid Cap Val Eq 27.26 26.15
Brandywine Institutional Small Cap Value 22.94 21.75
Bridgeway Small Cap Value 17.67 16.98
AJO Small Cap 15.58 15.22
Snow Capital Mgt Small Cap Value Eq 15.99 14.90
Triad Small-Cap Equity 15.34 14.81
O'Shaughnessy Micro Cap 15.69 14.53
DePrince, Race & Zollo, Micro Cap Val 15.44 14.35
Huber Select SMID Cap Value 14.39 13.98
BirdRock Small Cap Value 14.84 13.82
Source: Morningstar Separate Account/CIT Fund Database
Small Value 5 year gross return 5 year net return
Hotchkis & Wiley -Small Cap Divsfd Value 13.91 13.13
Opus Cap Small Cap Value Plus 13.43 12.97
Sycamore Small Cap Value Comp 14.06 12.95
O'Shaughnessy Micro Cap 14.11 12.93
Fuller & Thaler Small-Cap Value 13.12 12.67
Jacobs Levy Sm Cap Val (R 2500 Val) 13.24 12.30
Foundry Partners Micro Cap Value 13.16 12.10
WFAM Special US Small Cap Value Eq 13.15 12.03
BMO Disciplined SCV Composite 12.75 11.77
AB Small Cap Value Equity 12.88 11.77
Source: Morningstar Separate Account/CIT Fund Database
Mid-Cap Value 1 year gross return 1 year net return
SiM Apex Value Fund 41.25 39.92
DOMO Concentrated All Cap Value 33.83 31.34
MAP US Multi-Cap Value Composite 22.19 21.00
Shapiro Capital All Cap Opportunity 18.61 17.66
Speece Thorson Mid-Cap Value Equity 17.02 16.33
Financial Trust Discplnd Dividend Income 16.64 15.23
Clifford Capital All-Cap Value 15.29 14.91
Ariel Small/Mid Cap Value Product 15.85 14.72
AJO Managed Volatility 14.77 14.69
Heartland Opportunistic Value Equity 15.37 14.56
Source: Morningstar Separate Account/CIT Fund Database
Mid-Cap Value 5 year gross return 5 year net return
DOMO Concentrated All Cap Value 23.86 21.86
Levin Capital Mid-cap 17.17 16.02
Shapiro Capital All Cap Opportunity 16.51 15.45
Smith Graham Mid-Cap Value 15.20 14.34
MAP US Multi-Cap Value Composite 14.91 13.80
Clifford Capital All-Cap Value 14.42 13.74
AJO Managed Volatility 13.52 13.32
Sycamore Mid Cap Value Comp 14.00 13.15
Martingale MidCap Core 13.55 12.78
Smith Graham SMID (Small/Mid) Cap Value 13.56 12.73
Source: Morningstar Separate Account/CIT Fund Database
Large Value 1 year gross return 1 year net return
O'Shaughnessy Market Leaders Core 20.06 19.55
PVG U.S. Value 19.94 19.18
TWIN Dividend Select (Low Vol) 19.43 19.03
AJO Top Cap 19.04 18.83
Cognios TE Quantitative Large Cap Value 18.82 18.82
Brandywine Dynamic Large Cap Value 19.12 18.35
Invesco US Quantitative Core 18.95 18.31
WFAM Golden Disciplined US Div Yield 18.50 17.80
Avalon U.S. Value Equity 17.44 17.76
Alpha Quant Value Equity 18.82 17.55
Source: Morningstar Separate Account/CIT Fund Database
Large Value 5 year gross return 5 year net return
Alpha Quant Value Equity 16.80 15.53
Levin Capital All-cap 15.89 14.75
AJO Top Cap 14.65 14.39
OFI Global Revenue Weighted Dividend 14.03 13.71
Manning & Napier Disciplined Value-U.S. 14.14 13.49
WFAM Golden Disciplined US Div Yield 13.65 13.49
Martingale LargeCap Core 500 13.97 13.40
TWIN Dividend Select (Low Vol) 13.77 13.38
Convergence Unbiased Enhanced Index 13.56 13.36
O'Shaughnessy Market Leaders Core 13.96 13.34
Source: Morningstar Separate Account/CIT Fund Database
Small Growth 1 year gross return 1 year net return
Spouting Rock Small Cap Growth - Conc. 71.20 69.81
Granahan Inv Mgt - Sm Cap Focused Grth 66.45 65.15
Advisory Research U.S. Small Cap Growth 62.76 61.27
Next Century Growth Micro Cap Growth 61.81 60.79
Macquarie Small Cap Growth 59.96 58.51
Alger Small Cap Focus Composite 53.69 52.64
Granahan SC Advantage 49.72 49.13
Driehaus Small Cap Growth 47.09 46.00
Wasatch Small Cap Ultra Growth Composite 46.64 45.23
Crow Point Small Cap Growth 45.53 44.74
Source: Morningstar Separate Account/CIT Fund Database
Small Growth 5 year gross return 5 year net return
Granahan Inv Mgt - Sm Cap Focused Grth 20.71 19.94
Kayne Anderson Rudnick SC Sustain Growth 21.08 19.90
Friess Small Cap Growth 20.66 19.60
Ashford Small Company Growth 19.88 19.02
Driehaus Micro Cap Growth 19.72 18.53
Kayne Anderson Rudnick SC Quality Select 19.64 18.14
Granahan Inv Mgt Small Cap Discoveries 18.65 17.98
Brown Capital Small Company 18.96 17.90
Fuller & Thaler Small-Cap Growth 18.69 17.83
Driehaus Small Cap Growth 18.12 17.09
Source: Morningstar Separate Account/CIT Fund Database
Mid-Cap Growth 1 year gross return 1 year net return
Morgan Stanley Mid-Cap Growth Strategy 46.97 45.80
Advisory Research U.S. Mid Cap Growth 46.58 45.39
Stephens SMID Select Growth 40.65 40.27
Summit Creek SMid Cap Growth 39.34 38.04
Macquarie Mid Cap Growth 36.50 35.70
Crow Point Mid Cap Growth 35.52 35.52
Kayne Anderson Rudnick Mid Sustain Gr 35.71 34.75
AB US SMID Cap Growth 35.59 34.33
Night Owl All Cap 35.14 33.60
ClearBridge SMID Cap Growth 34.52 33.41
Source: Morningstar Separate Account/CIT Fund Database
Mid-Cap Growth 5 year gross return 5 year net return
Fiera Mid Cap Growth 17.78 16.65
Snyder Capital Mgt Concen All-Cap Value 17.26 16.14
Dorsey Wright Sys Reltv Strength Core 17.62 15.77
Essex Inv Mgt Research Strategy 16.81 15.68
Janus Henderson Mid Cap Growth 16.34 15.59
Sandhill Concentrated Equity Alpha 16.51 15.56
Sandhill Concentrated Equity Alpha Wrap 16.52 15.52
Dorsey Wright Sys Reltv Strength Agg 17.12 15.41
Curran Mid Cap Core Growth Equity 16.19 15.36
William Blair Small-Mid Cap Growth 16.34 15.24
Source: Morningstar Separate Account/CIT Fund Database
Large Growth 1 year gross return 1 year net return
Morgan Stanley Multi Cap Growth 48.86 47.48
Baillie Gifford US Equities 45.97 45.12
Elemental Capital Focused Growth 43.34 40.94
Ithaka Growth Portfolio 40.06 39.41
MRM All Domestic Equity 39.99 38.37
Morgan Stanley Growth 38.84 37.87
Baron High Growth Strategy 39.03 37.71
Zevenbergen Growth Equity 37.96 37.50
Next Century Growth Large Cap 37.97 37.15
Peregrine Capital Mgt Large Cap Growth 36.70 36.11
Source: Morningstar Separate Account/CIT Fund Database
Large Growth 5 year gross return 5 year net return
ARI Global Opportunities (ESG) 21.27 21.27
Peregrine Capital Mgt Large Cap Growth 20.81 20.29
Baillie Gifford US Equities 20.81 20.08
Morgan Stanley Multi Cap Growth 21.07 19.90
Edgewood Mgt Lg-Cap Gr 20.64 19.63
Morgan Stanley Growth 20.26 19.38
Cognios Quantitative Large Cap Growth 19.92 19.31
Polen Focus Growth 19.76 19.15
LEIA CBI 18.70 18.70
Cookson Peirce All-Cap Equity MA 19.07 18.49
Source: Morningstar Separate Account/CIT Fund Database
Small Blend 1 year gross return 1 year net return
Quantum Micro Cap 27.52 25.65
Wellington Small Cap Opportunities 26.67 25.53
Jacobs Levy Small Cap (S&P 600) 25.97 24.93
Reinhart Partners Genesis PMV 25.74 24.76
Fuller & Thaler Small-Cap Core 24.82 24.19
Calvert Small Cap Core Strategy 20.09 23.39
Wakefield Small Cap Equity 24.80 23.25
Pacific Income Small Cap Core 24.33 23.11
Investment Management of Virginia Sm Cap 23.66 22.98
Algert US Small Cap 22.97 21.89
Source: Morningstar Separate Account/CIT Fund Database
Small Blend 5 year gross return 5 year net return
Jacobs Levy Small Cap (S&P 600) 17.77 16.80
Wakefield Small Cap Equity 17.91 16.37
Fuller & Thaler Small-Cap Core 16.02 15.25
Algert US Small Cap 15.98 14.96
Wellington Small Cap Opportunities 15.71 14.68
Jacobs Levy Small Cap (Russell 2000) 15.34 14.38
Piedmont Optimized SMid Core 14.54 14.13
361 U.S. Small Cap Equity 14.78 13.73
Martingale Low Volatility SmallCap+ 14.62 13.54
Systematic Small Cap Free Cash Flow 14.54 13.46
Source: Morningstar Separate Account/CIT Fund Database
Mid-Cap Blend 1 year gross return 1 year net return
Great Lakes Disciplined SMidCap 22.69 22.17
WFAM Select Equity 22.87 21.67
Calvert U.S. Mid Cap Core Resp Index 15.20 20.50
Great Lakes SMidCap ESG 21.03 20.23
CRM Small/Mid Cap Value Separate Account 20.16 19.55
Boston Trust Mid Cap Equity 19.96 18.83
Boston Trust SMID Cap Equity 19.14 18.02
CRM Mid Cap Value Separate Account 18.66 17.85
New Amsterdam Md-Cap Active Eq 17.57 17.19
Janus Henderson Opportunistic Alpha 17.94 17.19
Source: Morningstar Separate Account/CIT Fund Database
Mid-Cap Blend 5 year gross return 5 year net return
LaSalle Street SMID 15.35 14.23
Bahl & Gaynor - Small/Mid Cap Income Gr 14.32 13.99
Zacks Mid-Cap Core Strategy 14.80 13.98
EARNEST Mid Cap Value 14.52 13.37
Scout Mid Cap Equity 14.12 13.23
Clarkston Capital SMID Composite 13.75 13.18
EARNEST Md-Cap 14.31 13.16
Fisher Small and Mid Cap Value 13.78 12.98
OakBrook Mid-Cap 13.02 12.78
River Road Focused Absolute Value Comp 13.40 12.76
Source: Morningstar Separate Account/CIT Fund Database
Large Blend 1 year gross return 1 year net return
Euclid Advisory Large Cap Growth 29.74 28.34
Calvert US Lg Cap Core Responsible strgy 18.30 24.65
Wright Large Cap Core Equity 24.93 24.30
WJA Equity Oriented Compsit (Eq Asst Cl) 23.79 23.58
Fisher US Total Return 23.26 22.95
Cognios Quantitative Large Cap Value 23.03 22.95
Profit Inv Mgt (PIM) Profit Lg-Cap Eq 22.99 22.87
GMO Quality Strategy 23.22 22.59
Jacobs Levy Core Equity (Russell 3000) 22.65 22.08
SaratogaRIM Large Cap Quality Focus 22.74 22.04
Source: Morningstar Separate Account/CIT Fund Database
Large Blend 5 year gross return 5 year net return
Euclid Advisory Large Cap Growth 19.60 18.18
Mellon Capital Dynamic U.S. Equity Comp 17.18 16.63
Wright Large Cap Core Equity 16.71 16.17
Alpha Quant SmartALPHAˆ® Defensive Gr 17.44 16.15
Fisher US Total Return 16.36 16.04
Jacobs Levy Large Cap (S&P 500) 16.11 15.56
Calvert US Lg Cap Core Responsible strgy 14.12 15.17
Jacobs Levy Core Equity (Russell 3000) 15.71 15.16
Oak Associates Select Gr Portfolio 15.89 15.14
TCW Alpha Trak 15.81 15.06
Source: Morningstar Separate Account/CIT Fund Database
Long/Short Equity 1 year gross return 1 year net return
Cognios Quantitiatve Long-Short Growth 42.52 42.52
QMA US Core Equity Extended 17.08 16.33
Epoch Global Absolute Return 16.83 15.51
PVG Dynamic Core ETF 16.72 15.43
Robinson Market Opportunity 16.09 15.13
Astor Dynamic Allocation 13.75 11.50
Quantum Hedged Equity 11.28 10.35
Horizon Focused ETF with Risk Assist 10.93 9.14
Wellington Hedged Alpha Opportunities 8.45 7.63
Horizon Growth ETF with Risk Assist 9.31 7.57
Source: Morningstar Separate Account/CIT Fund Database
Long/Short Equity 5 year gross return 5 year net return
QMA US Core Equity Extended 16.63 15.88
WFAM Analytic Global Long/Short Eq 10.79 10.19
PVG Dynamic Core ETF 8.60 7.29
Astor Dynamic Allocation 9.23 7.20
Robinson Market Opportunity 7.67 6.76
Epoch Global Absolute Return 8.01 6.72
Horizon Focused ETF with Risk Assist 8.36 6.31
Calamos Phineus Long/Short Composite 7.56 6.09
Boston Partners Research Equity Comp 7.09 5.77
Quantum Hedged Equity 6.93 5.75
Source: Morningstar Separate Account/CIT Fund Database
Leveraged Net Long 1 year gross return 1 year net return
Large Cap Core 130/30 19.19 19.83
Chicago Equity Large Cap 130/30 19.95 19.24
PVG Global Macro Portfolio 20.63 19.20
LA Capital U.S. Large Cap Active Exten 17.12 16.89
Martingale 130/30 LargeCap Growth 17.59 16.81
Numeric Investors Amplified Core 130/30 17.48 16.55
Constantia Large Cap 130/30 16.65 15.96
Lazard Global 130/30 16.32 15.33
AJO Top Cap Absolute Value 130/30 15.03 14.53
MacKay Shields US Equity Opportunities 15.12 14.44
Source: Morningstar Separate Account/CIT Fund Database
Leveraged Net Long 5 year gross return 5 year net return
Numeric Investors Amplified Core 130/30 17.53 16.44
Martingale 130/30 LargeCap Growth 16.81 15.96
MacKay Shields US Equity Opportunities 15.78 15.10
Chicago Equity Large Cap 130/30 15.63 14.93
Martingale Low Volatility Long/Short 15.73 14.89
AQR Capital US Relaxed Constraint 40 14.93 14.25
LA Capital U.S. Large Cap Active Exten 14.60 14.20
Constantia Large Cap 130/30 14.66 13.98
Large Cap Core 130/30 14.60 13.98
Martingale 130/30 LargeCap Core 500 14.64 13.81
Source: Morningstar Separate Account/CIT Fund Database
Market Neutral 1 year gross return 1 year net return
Cognios Enhanced Market Neutral 63.81 58.79
Copeland Risk Managed Dividend Growth 20.25 19.06
Cognios Market Neutral Large Cap Value 16.67 15.04
Convergence Market Neutral 11.04 9.90
Research Market Neutral 5.59 4.55
Constantia Merger-Arbitrage 3.74 3.14
Invesco US Market Neutral Equity 2.63 2.63
SSI Convertible Income 3.53 2.54
PVG Loss Averse Equity Income 2.27 0.79
American Century US Discp Eq Mkt Neutral 1.69 0.28
Source: Morningstar Separate Account/CIT Fund Database
Market Neutral 5 year gross return 5 year net return
Copeland Risk Managed Dividend Growth 10.39 9.28
Cognios Market Neutral Large Cap Value 7.86 6.28
Constantia Merger-Arbitrage 4.67 4.12
Invesco US Market Neutral Equity 4.05 4.05
SSI Convertible Income 3.33 2.33
Constantia Equity Market Neutral 2.71 1.79
Research Market Neutral 2.49 1.46
American Century US Discp Eq Mkt Neutral 2.05 0.59
Martingale Equity Market Neutral 0.16 -0.84
PSI Managed Volatility -0.25 -1.24
Source: Morningstar Separate Account/CIT Fund Database
World Stock 1 year gross return 1 year net return
Marsico Non-Taxable Global Growth 26.77 25.80
Baillie Gifford Long Term Global Growth 25.83 24.98
Polen Global Growth - ADR 24.27 23.37
Sands Global Leaders Equity Composite 23.06 22.04
Jennison Global Equity Opportunities 22.83 21.92
Redwood Global Equity 23.37 21.91
Artisan Global Discovery 22.32 21.15
T. Rowe Price Glb Focused Growth Equity 20.80 20.09
Axiom Concentrated Global Growth Equity 21.01 20.03
SGA Global Large Cap Growth Equity 20.83 19.77
Source: Morningstar Separate Account/CIT Fund Database
World Stock 5 year gross return 5 year net return
Morgan Stanley Global Opportunity 20.92 19.55
Baillie Gifford Long Term Global Growth 18.77 17.95
Jennison Global Equity Opportunities 15.68 14.82
T. Rowe Price Glb Focused Growth Equity 15.14 14.43
Marsico Non-Taxable Global Growth 14.90 13.75
Hardman Johnston Global Equity 14.47 13.66
DSM Global Growth Equity 14.39 13.34
Harding Loevner World Equity Composite 13.41 12.97
WCM Quality Global Growth 13.44 12.94
Wellington Global Growth 13.35 12.50
Source: Morningstar Separate Account/CIT Fund Database
Foreign Large Value 1 year gross return 1 year net return
Diamond Hill Global 8.75 8.20
Cozad International Equity Income 6.38 5.82
RBC International Equity Fund 6.71 5.70
WCM Focused International Value 4.56 4.20
Pzena International Focused Value 4.37 3.82
Pzena International Value 4.13 3.81
American Century Non-U.S. Intrinsic Val 4.00 3.44
Pzena Intl Value All Country (ex-U.S.) 4.03 3.42
Acadian ACWI ex-US Value Composite 4.01 3.24
Acadian ACW ex-U.S. Equity Composite 3.90 3.13
Source: Morningstar Separate Account/CIT Fund Database
Foreign Large Value 5 year gross return 5 year net return
Wellington Intl Contrarian Value 8.88 7.96
RBC International Equity Fund 8.78 7.76
American Century Non-U.S. Intrinsic Val 7.60 7.17
Acadian ACW ex-U.S. Equity Composite 7.96 7.16
Acadian ACWI ex-US Value Composite 7.45 6.65
Columbia International Equity 7.25 6.41
Systematic International Equity 7.19 6.27
WCM Focused International Value 6.27 6.20
ClariVest International Core 7.05 6.16
NT Quality Large Cap Core EAFE 6.27 5.81
Source: Morningstar Separate Account/CIT Fund Database
Foreign Large Blend 1 year gross return 1 year net return
Aristotle International Equity 9.67 9.31
Calvert International Equity Strategy 5.40 8.91
Aristotle International Equity ADR 9.39 8.84
Acadian Non-U.S. Concentrated Eq Compst 9.56 8.58
AB International Strategic Core Equity 9.04 8.44
Nikko AM International Equity EAFE Comp 8.36 7.55
Aristotle International Equity Wrap ADR 9.68 7.52
QMA Int'l Equity Opps Composite 6.04 5.35
Acadian Non-US ADR Eq (Model/Envestnet) 6.80 5.22
McKinley Capital Non-U.S. Developed Gr 5.52 5.21
Source: Morningstar Separate Account/CIT Fund Database
Foreign Large Blend 5 year gross return 5 year net return
Acadian ADR Non-U.S. Equity Composite 10.95 10.12
Acadian Non-US ADR Eq (Model/Envestnet) 10.83 9.16
Acadian Non-U.S. Equity Composite 9.76 8.95
Acadian Non-U.S. Concentrated Eq Compst 9.55 8.56
Fiduciary Mgt of Milwaukee Intl Comp 8.96 8.20
AB International Strategic Core Equity 8.78 8.19
Clark Navigator International Equity/ADR 8.47 8.09
Acadian Non-U.S. All-Cap Equity Compst 8.84 8.03
SGA International All Cap Equity 7.79 7.10
WFAM EverKey Focused Global Equity 8.17 7.10
Source: Morningstar Separate Account/CIT Fund Database
Foreign Large Growth 1 year gross return 1 year net return
Franklin EAFE Plus Equity 13.85 13.17
Morgan Stanley International Advantage 14.40 13.15
Sierra Franklin EAFE Plus Equity 13.83 13.04
ARI EAFE 12.96 12.96
WCM Focused Growth International ADR 13.49 12.82
Redwood International Developed Markets 12.34 12.06
WCM Inv Mgt Focused Growth Intl 12.49 11.75
Polen International Growth - ADR 11.81 11.22
Polen International Growth 12.03 11.11
Jennison Intl Eq Opportunities Cmpst 11.29 10.72
Source: Morningstar Separate Account/CIT Fund Database
Foreign Large Growth 5 year gross return 5 year net return
Morgan Stanley International Opportunity 15.67 14.44
Morgan Stanley International Advantage 15.02 13.69
Wellington International Quality Growth 12.31 11.48
Eagle Ridge International Quality 11.04 10.57
WCM Inv Mgt Focused Growth Intl 10.58 9.86
WCM Focused Growth International ADR 10.28 9.50
MFSˆ® International Val Eq 9.81 8.99
Mitchell Capital International Equity 9.96 8.98
William Blair International Leaders 9.59 8.72
Harding Loevner EAFE Equity 9.11 8.50
Source: Morningstar Separate Account/CIT Fund Database
Foreign Small/Mid Value 1 year gross return 1 year net return
ARGA International Small-Cap Strategy 11.07 9.75
First Eagle International Small Cap Val 8.00 6.65
Renaissance International Small Cap Eq 6.54 5.77
Advisory Research Intl Small Cap Value 3.14 1.88
LMCG Int'l Sm Cap Eq 2.02 1.13
Pzena Intl Small Cap Focused Value -0.01 -0.03
AJO International Small Cap -0.95 -1.10
GlobeFlex International Micro Cap Cmpst -0.54 -1.42
QMA International Small Cap Equity -1.04 -1.88
LSV Asset Mgt Intl Sm-Cap Val Eq -1.44 -2.43
Source: Morningstar Separate Account/CIT Fund Database
Foreign Small/Mid Value 5 year gross return 5 year net return
LMCG Int'l Sm Cap Eq 10.52 9.50
GlobeFlex International Micro Cap Cmpst 9.20 8.23
Segall Bryant International Small Cap 8.49 7.83
LSV Asset Mgt Intl Sm-Cap Val Eq 8.78 7.71
QMA International Small Cap Equity 8.46 7.55
SSgA International Small Cap Active 7.84 6.31
Advisory Research Intl Small Cap Value 7.31 5.88
Renaissance International Small Cap Eq 6.30 5.64
ClearBridge International Small Cap 6.38 5.33
AllianzGI International Small Cap Value 6.37 5.31
Source: Morningstar Separate Account/CIT Fund Database
Foreign Small/Mid Growth 1 year gross return 1 year net return
Brown Capital Intl Small Company 30.07 29.60
WCM International Small Cap Growth 24.90 24.09
OFI Global International Small-Mid Cap 17.42 16.40
Wasatch Int’l Small Cap Growth Composite 14.11 13.00
TH & B International Opportunities 13.00 11.66
Expedition Intl SMID Cap Comp 12.01 10.95
Wasatch Int'l Micro Cap Composite 12.55 10.90
Expedition Intl Micro Cap Comp 10.20 8.56
Copeland Inter Divsfd Small Cap Div Gr 9.46 7.95
MFS International Small-Mid Cap Equity 8.80 7.79
Source: Morningstar Separate Account/CIT Fund Database
Foreign Small/Mid Growth 5 year gross return 5 year net return
OFI Global International Small-Mid Cap 15.17 14.18
Expedition Intl Micro Cap Comp 15.42 13.78
GA International Small Cap Composite 13.85 12.89
EAM International Small Cap 12.17 11.07
Barings International Small Cap Equity 11.51 10.59
Oberweis Intl Opportunities 11.59 10.52
Wasatch Int'l Micro Cap Composite 12.39 10.41
TimesSquare International Small Cap 11.44 10.33
Macquarie International Small Cap Equity 10.97 10.22
T. Rowe Price International Small-Cap Eq 11.12 10.08
Source: Morningstar Separate Account/CIT Fund Database
Latin America Stock 1 year gross return 1 year net return
Financial Trust Latin Value Momentum -2.17 -3.38
Ashmore Latin America Small Cap Equity -9.47 -10.86
T. Rowe Price Latin America Equity -13.91 -14.65
Latin American Equity -13.89 -14.75
Morgan Stanley Latin America Equity -14.79 -15.39
Source: Morningstar Separate Account/CIT Fund Database
Latin America Stock 5 year gross return 5 year net return
Financial Trust Latin Value Momentum 9.37 8.02
T. Rowe Price Latin America Equity -0.80 -1.64
Latin American Equity -1.95 -2.93
Morgan Stanley Latin America Equity -3.04 -3.46
Ashmore Latin America Small Cap Equity -2.34 -3.88
Source: Morningstar Separate Account/CIT Fund Database
Europe Stock 1 year gross return 1 year net return
Intech European Large Cap Core 8.12 7.56
T. Rowe Price Europe Smaller Comp Equity 5.66 4.91
MFSˆ® European Research Equity 4.95 4.33
Acadian European Equity Composite 4.22 3.44
NS Partners European Equity 4.01 3.39
PGI European Equity 2.96 2.54
FIIG European Equity 3.03 2.09
Numeric Investors Europe Core 2.68 1.92
BNP Paribas Europe High Conviction Eqty 2.25 1.84
Financial Trust Europe ValueMomentum 2.96 1.70
Source: Morningstar Separate Account/CIT Fund Database
Europe Stock 5 year gross return 5 year net return
T. Rowe Price Europe Smaller Comp Equity 12.34 11.51
Numeric Investors Europe Core 11.39 10.60
Boston Company Euroland Small Cap Equity 11.46 10.42
Intech European Large Cap Core 10.12 9.56
Acadian European Equity Composite 9.78 8.96
Baillie Gifford Europe ex-UK Equities 8.44 7.76
Wellington Strategic European Equity 7.74 6.94
PGI European Equity 7.08 6.59
Baillie Gifford Pan-European Equities 7.04 6.34
T. Rowe Price Europe ex-UK Equity 6.45 5.93
Source: Morningstar Separate Account/CIT Fund Database
Japan Stock 1 year gross return 1 year net return
T. Rowe Price Japan Equity 17.27 16.63
Baillie Gifford Japan Growth 16.28 15.59
Baillie Gifford Japanese All Cap 13.73 13.00
Dalton Japan Long Only Composite 13.78 12.71
Burgundy Focus Asian Composite 13.11 12.03
Burgundy Asian (All Cap) Composite 12.68 11.57
DaiwaSB Japan Eq Value Plus Alpha 10.65 10.02
MFSˆ® Japan Equity 10.14 9.43
DaiwaSB Japan Eq Fundamental Active 9.81 9.19
FIAM Japan Growth 10.05 9.18
Source: Morningstar Separate Account/CIT Fund Database
Japan Stock 5 year gross return 5 year net return
DaiwaSB Japan EqSmall Cap Absolute Value 18.88 18.06
Burgundy Asian (All Cap) Composite 14.51 13.38
DaiwaSB Japan Eq MidSm Cap GARP 13.70 12.91
Burgundy Focus Asian Composite 13.53 12.64
Dalton Japan Long Only Composite 13.58 12.47
Usonian Japan Value 13.58 12.27
Daiwa Japan Equity High Conviction Value 12.64 12.08
T. Rowe Price Japan Equity 12.28 11.65
Baillie Gifford Japanese All Cap 11.44 10.73
Brandes Japan Equity 11.43 10.53
Source: Morningstar Separate Account/CIT Fund Database
Pacific/Asia ex-Japan Stk 1 year gross return 1 year net return
Morgan Stanley Asia Opportunity 6.22 4.94
Brandes Asia Pacific ex-Japan Equity 5.76 4.76
Baillie Gifford Asia ex Japan Equities 4.62 3.93
MFSˆ® Asia Pacific ex Japan 4.64 3.85
MFSˆ® Asia ex Japan Equity 3.53 2.79
Investec 4Factor Asia Pacific ex Jap Eq 3.32 2.65
AllianzGI Asia-Pfc ex Japan Eq(Core Reg) 0.91 -0.01
T. Rowe Price Asia ex-Japan Equity 0.21 -0.50
Lazard Emg Markets Eq Blend Asia ADR -0.14 -0.81
Morgan Stanley Asia Pacific Equity -1.11 -1.87
Source: Morningstar Separate Account/CIT Fund Database
Pacific/Asia ex-Japan Stk 5 year gross return 5 year net return
Baillie Gifford Asia ex Japan Equities 10.26 9.52
Brandes Asia Pacific ex-Japan Equity 8.84 7.78
MFSˆ® Asia ex Japan Equity 8.56 7.77
Investec 4Factor Asia Pacific ex Jap Eq 8.20 7.50
FIIG Asia ex-Japan Equity 8.50 7.38
Mirae Asset Asia Sector Leader Eq 8.26 7.06
MFSˆ® Asia Pacific ex Japan 7.72 6.93
T. Rowe Price Asia ex-Japan Equity 7.35 6.48
Morgan Stanley Asia Equity 6.04 5.78
AllianzGI Asia-Pfc ex Japan Eq(Core Reg) 6.50 5.52
Source: Morningstar Separate Account/CIT Fund Database
Diversified Pacific/Asia 1 year gross return 1 year net return
Horizon Asia Institutional 8.74 7.65
ARI Asia Pacific 5.21 5.21
Sit Inv Pac Basin 4.53 3.60
WFAM SF Global Asia Pacific Equity 3.24 2.42
Accuvest Asian Advantage 2.43 1.72
Financial Trust Asia ValueMomentum 1.63 0.37
Dalton Asia Pacific Long Only Composite -1.27 -1.88
ZPR All Asian -3.04 -4.16
Source: Morningstar Separate Account/CIT Fund Database
Diversified Pacific/Asia 5 year gross return 5 year net return
ARI Asia Pacific 11.62 11.62
Financial Trust Asia ValueMomentum 11.60 10.22
WFAM SF Global Asia Pacific Equity 7.61 6.76
Dalton Asia Pacific Long Only Composite 7.63 6.56
Sit Inv Pac Basin 6.96 6.00
Accuvest Asian Advantage 5.27 4.71
ZPR All Asian 5.90 4.60
Horizon Asia Institutional 4.89 3.84
Source: Morningstar Separate Account/CIT Fund Database
Diversified Emerging Mkts 1 year gross return 1 year net return
SGA Emerging Markets Growth 8.21 7.05
PIMCO RAE PLUS Emerging Markets 7.02 5.88
WGI Specialized Emerging Mkts Composite 5.88 5.25
Acadian EM Managed Volatility Eq Compst 5.75 5.06
Lazard Emerging MarketsManagedVolatility 5.20 4.57
Westwood Global Emerging Mkts Composite 4.87 3.87
Vontobel Asset Mgt Asia Pacific Equity 4.04 3.58
ARGA Emerging Markets Equity Strategy 4.53 3.04
BHMS Emerging Markets Equity 2.60 2.36
WCM Inv Mgt Emerging Markets 2.74 2.25
Source: Morningstar Separate Account/CIT Fund Database
Diversified Emerging Mkts 5 year gross return 5 year net return
Numeric Investors Emerging Markets Alpha 9.91 8.72
AJO Emerging Markets Small Cap 8.74 8.24
AllianzGI Emerging Markets Small Cap 9.00 8.19
JP Morgan GEM Discovery 7.63 7.63
Baillie Gifford Emerging Mkts All Cap Eq 8.49 7.62
SSGA Active Emerging Markets Sm Cp Strat 8.68 7.43
Vontobel Asset Mgt Asia Pacific Equity 8.21 7.11
Acadian Emerging Markets Small-Cap Comp 8.24 6.91
Baillie Gifford Emerging Mkts Lead Co Eq 7.71 6.86
Goldman Sachs Global Emerging Market Eq 7.73 6.78
Source: Morningstar Separate Account/CIT Fund Database
Global Real Estate 1 year gross return 1 year net return
Cohen & Steers European Real Estate Secs 10.88 9.72
Duff & Phelps Intl Real Estate Secs 10.36 9.27
PGI Real Estate Core Property 9.76 8.51
PGI Global ex-US Real Estate Securities 8.74 8.11
Duff&Phelps Glbl Real Estate Securities 8.97 8.06
Global REIT Income Preference 8.78 8.06
PGI Global Real Estate Securities 7.99 7.44
LaSalle Global Real Estate Securities 7.03 6.28
Cohen & Steers Int'l Real Estate Secs 6.77 6.06
Cornerstone Global RE Securities 6.34 5.99
Source: Morningstar Separate Account/CIT Fund Database
Global Real Estate 5 year gross return 5 year net return
Cohen & Steers European Real Estate Secs 11.53 10.57
PGI Real Estate Core Property 11.75 10.47
Global REIT Income Preference 9.64 8.91
Duff&Phelps Glbl Real Estate Securities 9.65 8.77
Heitman Global Rental RE Securities 8.94 8.30
Cohen & Steers Global Real Estate Secs 7.65 7.20
PGI Global Real Estate Securities 7.71 7.16
Adelante Global Strategy Composite 7.75 7.07
LaSalle Core Glbal RealEstate Securities 7.60 6.85
CenterSquare Global REIT 7.27 6.81
Source: Morningstar Separate Account/CIT Fund Database
World Bond 1 year gross return 1 year net return
Greystone Long Bond Fund 3.62 3.31
PIMCO Non US Hedged 3.45 2.91
OFI Global Cat Bond 4.17 2.64
PIMCO Global Government Hedged 2.05 1.92
Oaktree European Senior Loans 2.24 1.72
UBS: Global Aggregate Bond 1.57 1.37
PIMCO Global Aggregate Hedged 1.47 1.07
MFS Global Aggregate Opportunistic FI 1.28 0.87
MacKay Global Hi Yld Constrained Comp 0.63 0.63
Mondrian Inv Intl Fixed Unhedged -0.17 0.60
Source: Morningstar Separate Account/CIT Fund Database
World Bond 5 year gross return 5 year net return
Western Asset Mgt UK Core Full 6.46 6.18
Greystone Long Bond Fund 5.90 5.58
PIMCO Non US Hedged 5.55 5.03
MacKay Global Hi Yld Constrained Comp 4.49 4.49
Stone Harbor Global High Yield 50/50 4.76 4.36
Stone Harbor Glbl High Yield Comp 70/30 4.67 4.27
MFS Global Aggregate Opportunistic FI 4.55 4.13
PIMCO Global Aggregate Hedged 4.50 4.10
T. Rowe Price Global Multi-Sector Bond 4.26 3.87
Western Asset Mgt Euro Core Full Discr 4.02 3.80
Source: Morningstar Separate Account/CIT Fund Database
High Yield Bond 1 year gross return 1 year net return
Herzfeld Fixed Income Composite 8.69 7.94
MacKay Select High Yield Composite 7.43 6.67
DDJ Total Return Credit II Composite 7.79 6.59
Invesco Bank Loans 6.44 5.91
DDJ U.S. Opportunistic High Yield Comp 6.37 5.89
Diamond Hill High Yield 6.04 5.52
Horizon High Yield Opportunity Instl 6.11 5.05
L&S High Yield 5.75 4.98
Artisan High Income 5.69 4.95
Strategic Income Mmgt SiM High Yld Instl 5.26 4.85
Source: Morningstar Separate Account/CIT Fund Database
High Yield Bond 5 year gross return 5 year net return
Herzfeld Fixed Income Composite 10.01 9.17
DDJ Total Return Credit II Composite 8.87 7.55
MacKay Select High Yield Composite 7.80 7.22
DDJ U.S. Opportunistic High Yield Comp 7.17 6.64
Nomura NCRAM HY Total Return Inst 7.03 6.50
Lord Abbett High Yield Opportunistic 7.02 6.44
Strategic Income Mmgt SiM High Yld Instl 6.83 6.41
Oaktree European High Yield Bonds 6.87 6.35
Ryan Labs High Yield 6.61 6.17
TCW Opportunistic MBS 6.88 6.13
Source: Morningstar Separate Account/CIT Fund Database
Intermediate Government 1 year gross return 1 year net return
Semper Active Mortgage-Backed Securities 1.60 1.24
Garcia Hamilton Government/Credit 0.32 0.10
CCM Fixed Income Portfolio -0.14 -0.64
Community Core Fixed Income Composite -0.49 -0.92
Great Lakes Core Government Only -0.86 -0.95
M.D. Sass Core Fix-Inc -0.73 -1.01
Amalgamated Bank Intermediate Duration -0.80 -1.05
Eagle Government Securities Inst -0.59 -1.11
DBF Intermediate Duration Govt/Agency -0.98 -1.13
MFS US Government Fixed Income -0.85 -1.13
Source: Morningstar Separate Account/CIT Fund Database
Intermediate Government 5 year gross return 5 year net return
Semper Active Mortgage-Backed Securities 4.64 4.23
Garcia Hamilton Government/Credit 3.28 3.07
Community Core Fixed Income Composite 2.28 1.90
M.D. Sass Core Fix-Inc 2.07 1.79
Great Lakes Core Government Only 1.81 1.71
MFS US Government Fixed Income 1.90 1.60
Ryan Labs LDI Interm Duration 3-5 1.86 1.48
Chicago Equity Core Fix-Inc 1.72 1.46
Amalgamated Bank Intermediate Duration 1.65 1.40
Northern Trust Government Index 1.41 1.26
Source: Morningstar Separate Account/CIT Fund Database
Intermediate-Term Bond 1 year gross return 1 year net return
Piedmont Inv Advisors Yld Advantage Agg -1.30 7.03
Ross Sinclaire Taxable Total Return 3.51 2.99
BCM Decathlon Conservative Aspect(Pro1) 5.33 2.60
Osterweis Total Return Composite 2.56 2.10
Aegon Structured Finance 2.29 1.98
Destinations Defensive (T) 1.68 1.42
Destinations Defensive (Qual) 1.59 1.36
BBH Core Fixed Income 1.55 1.30
Frost Core Plus Composite 1.88 1.27
DT Intermediate Fixed Income 1.96 1.22
Source: Morningstar Separate Account/CIT Fund Database
Intermediate-Term Bond 5 year gross return 5 year net return
Spectrum Preferred Securities 6.97 6.71
Ross Sinclaire Taxable Total Return 5.66 5.14
PIMCO Diversified Income 5.61 4.89
Piedmont Inv Advisors Yld Advantage Agg 2.53 4.61
PIMCO Global Invstm Grade Corporate 4.76 4.28
Morgan Stanley Core Plus Fix-Inc 4.89 4.25
EARNEST Fixed Income Long Duration 4.55 4.19
BBH Core Fixed Income 4.32 4.06
Templeton Taxable Municipal Intermediate 4.28 4.02
Aegon Structured Finance 4.28 3.99
Source: Morningstar Separate Account/CIT Fund Database
Short Government 1 year gross return 1 year net return
Garcia Hamilton Short Duration 1.12 0.96
Standish Glb Govt-Short Dur (US$ Hedged) 0.90 0.75
M.D. Sass 2-Year FI 0.61 0.34
AB US Low Duration 0.66 0.21
MPI Inv Mgt US Fix-Inc 0.77 0.19
RBC Short Duration: 1-3 Year Government 0.41 0.19
Ryan Labs Short Duration Government 0.25 0.00
Sit Inv Short Dur Strat 0.39 -0.01
RNC Genter Short-Term U.S. Government 0.35 -0.04
Ryan Labs Limited Duration Govt Credit 0.21 -0.04
Source: Morningstar Separate Account/CIT Fund Database
Short Government 5 year gross return 5 year net return
JP Morgan Mortgage Backed Securities 2.74 2.46
Morgan Stanley U.S. Mortgage 2.50 2.36
Sit Inv Short Dur Strat 2.24 1.83
RBC Access Capital Community Invmt 2.24 1.83
Victory INCORE Short Government 1.73 1.37
Garcia Hamilton Short Duration 1.42 1.29
M.D. Sass 3-Year FI 1.62 1.24
M.D. Sass 2-Year FI 1.37 1.12
MPI Inv Mgt US Fix-Inc 1.52 0.97
WFAM Montgomery US Short Duration FI 1.17 0.71
Source: Morningstar Separate Account/CIT Fund Database
Short-Term Bond 1 year gross return 1 year net return
Post Limited Term High Yield Comp 2.57 1.91
Barings Active Short Duration Composite 2.01 1.65
Advisors Capital Mgt Fixed Income 2.33 1.53
Standish Enhanced Cash 1.59 1.51
Lord Abbett Short Duration Credit 1.76 1.33
Aegon Short Duration 1.53 1.29
Frost Intermediate Taxable Composite 1.88 1.27
Segall Bryant Short Term Plus Fixed 1.47 1.27
GW&K Short-Term Focused High Income 1.77 1.22
Sterling Enhanced Cash 1.33 1.21
Source: Morningstar Separate Account/CIT Fund Database
Short-Term Bond 5 year gross return 5 year net return
Manulife AM Strategic Fixed Income Opp 4.03 3.61
Crossmark Income Opportunities 3.91 3.57
Post Limited Term High Yield Comp 4.16 3.48
Frost Intermediate Taxable Composite 3.94 3.47
Newfleet Multi-Sector Short Dur Cpst 3.18 2.69
Manulife AM US Strategic Fixed Income 3.07 2.65
Advisors Capital Mgt Fixed Income 3.21 2.48
PIMCO Mortgage Unconstrained 2.84 2.46
Thornburg Limited Term Income Sep Acct 2.79 2.42
Dodge & Cox Intermediate FI Composite 2.73 2.41
Source: Morningstar Separate Account/CIT Fund Database
Ultrashort Bond 1 year gross return 1 year net return
FIAM Leveraged Loan Composite 5.46 4.93
PIMCO Short Term 2.87 2.43
Pioneer Multi-Asset Ultrashort Income 2.61 2.36
Seix Ultra Short 2.34 2.16
Merganser Floating Rate Bond 2.17 1.99
Western Asset Mgt US Enhanced Cash 2.16 1.96
Baird Ultra Short Bond 2.05 1.90
Federated Active Cash Moderate FI Comp 2.06 1.88
Logan Circle STAMP Cash Plus 1.99 1.85
Western Asset Mgt US Enhanced Liquidity 1.93 1.80
Source: Morningstar Separate Account/CIT Fund Database
Ultrashort Bond 5 year gross return 5 year net return
Schroders Enhanced Securitized 5.99 5.46
FIAM Leveraged Loan Composite 4.56 4.03
BNP Paribas Mortgage Alpha 3.64 3.13
PIMCO Short Term 2.29 1.87
Pioneer Multi-Asset Ultrashort Income 2.02 1.76
Western Asset Mgt US Enhanced Cash 1.63 1.45
Seix Ultra Short 1.49 1.27
Payden & Rygel Enhanced Cash Long 1.32 1.16
Federated Active Cash Moderate FI Comp 1.36 1.09
Logan Circle STAMP Cash Plus 1.21 1.06
Source: Morningstar Separate Account/CIT Fund Database
Long Government 1 year gross return 1 year net return
Ryan Labs Long Treasury -2.04 -2.25
JPM Long Duration -1.99 -2.40
TCW Long Duration Gov -3.04 -3.12
Hillswick Long Duration Government -2.98 -3.33
PIMCO Long Duration Treasury -3.06 -3.51
SSgA Long U.S. Govt Bond Index Strategy -3.51 -3.56
DoubleLine Long Duration Total Return -2.84 -3.59
Hoisington Inv Mgt Macroeconomic FI Comp -3.57 -3.76
Aegon Long US Treasury Strips -4.04 -4.18
Source: Morningstar Separate Account/CIT Fund Database
Long Government 5 year gross return 5 year net return
Hillswick Long Duration Government 5.72 5.39
Hoisington Inv Mgt Macroeconomic FI Comp 5.41 5.18
JPM Long Duration 5.75 4.92
PIMCO Long Duration Treasury 4.70 4.20
TCW Long Duration Gov 3.92 3.81
SSgA Long U.S. Govt Bond Index Strategy 4.39 2.75
Ryan Labs Long Treasury 0.00 0.00
DoubleLine Long Duration Total Return 0.00 0.00
Aegon Long US Treasury Strips 0.00 0.00
Source: Morningstar Separate Account/CIT Fund Database
Long-Term Bond 1 year gross return 1 year net return
Brandywine Global U.S. Fixed Income 1.92 1.62
Ramirez Long Duration Composite 1.73 1.53
Stadion Master Long Duration Fix Inc 0.22 0.21
Calvert Core Bond Strategy 0.41 -0.61
Dorsey Wright Tactical Fixed Income 0.11 -0.79
Full Duration Fixed Income -0.62 -0.86
WSC Core Taxable Fixed Income -0.71 -1.04
Barings Investment Grade Corporate -0.77 -1.05
Loomis Sayles Core Disciplined Alpha -0.88 -1.09
Standish US Investment Grade Corporate -1.09 -1.30
Source: Morningstar Separate Account/CIT Fund Database
Long-Term Bond 5 year gross return 5 year net return
PIMCO Long Term Bond - Long Credit 7.08 6.79
Dodge & Cox Long Duration FI Composite 6.47 6.10
PIMCO Long Term Bond Full Authority 6.33 6.07
Ryan Labs Long-Credit 6.34 6.04
Western Asset Mgt US Long Duration 6.33 6.00
Logan Circle Long Duration 6.22 5.90
FIAM Long Corporate Composite 6.16 5.87
TCW Long Duration Credit 6.05 5.85
Schroders Value Long Duration 5.92 5.72
Morgan Stanley U.S. Long Duration 5.71 5.49
Source: Morningstar Separate Account/CIT Fund Database
Multisector Bond 1 year gross return 1 year net return
Schroder Opportunistic Multi-Sector Sec 6.44 5.66
Putnam Fixed Income Global Alpha Plus 4.90 4.27
PGIM Fixed Inc Absolute Return Composite 3.59 3.12
Aristotle Strategic Credit - Composite 3.10 3.07
TCW Securitized Opportunities 4.03 2.99
Calvert Unconstrained Bond Strategy 2.60 2.41
Morgan Stanley Glb Fxd Inc Opportunities 3.14 2.19
PIMCO Dynamic Full Authority 2.62 1.94
Thornburg Multisector Opportun Sep Acct 2.41 1.84
Bramshill Income Performance Fund 2.57 1.72
Source: Morningstar Separate Account/CIT Fund Database
Multisector Bond 5 year gross return 5 year net return
Schroder Opportunistic Multi-Sector Sec 8.17 7.50
PIMCO Income Composite 6.06 5.49
First Trust Taxable Closed End Fund 6.58 5.05
Guggenheim Fixed Income 4.84 4.49
Loomis Sayles Multi-Sector Full Discretn 4.64 4.31
Newfleet Global Multi-Sector Income Comp 5.69 4.27
Columbia Strategic Income Allocation 4.82 4.20
Newfleet Multi-Sector Opportunistic Cpst 4.60 4.03
FIAM Tactical Bond 4.40 3.98
Thornburg Multisector Opportun Sep Acct 4.60 3.93
Source: Morningstar Separate Account/CIT Fund Database
High Yield Bond 1 year gross return 1 year net return
Herzfeld Fixed Income Composite 8.69 7.94
MacKay Select High Yield Composite 7.43 6.67
DDJ Total Return Credit II Composite 7.79 6.59
Invesco Bank Loans 6.44 5.91
DDJ U.S. Opportunistic High Yield Comp 6.37 5.89
Diamond Hill High Yield 6.04 5.52
Horizon High Yield Opportunity Instl 6.11 5.05
L&S High Yield 5.75 4.98
Artisan High Income 5.69 4.95
Strategic Income Mmgt SiM High Yld Instl 5.26 4.85
Source: Morningstar Separate Account/CIT Fund Database
High Yield Bond 5 year gross return 5 year net return
Herzfeld Fixed Income Composite 10.01 9.17
DDJ Total Return Credit II Composite 8.87 7.55
MacKay Select High Yield Composite 7.80 7.22
DDJ U.S. Opportunistic High Yield Comp 7.17 6.64
Nomura NCRAM HY Total Return Inst 7.03 6.50
Lord Abbett High Yield Opportunistic 7.02 6.44
Strategic Income Mmgt SiM High Yld Instl 6.83 6.41
Oaktree European High Yield Bonds 6.87 6.35
Ryan Labs High Yield 6.61 6.17
TCW Opportunistic MBS 6.88 6.13
Source: Morningstar Separate Account/CIT Fund Database
Intermediate Government 1 year gross return 1 year net return
Semper Active Mortgage-Backed Securities 1.60 1.24
Garcia Hamilton Government/Credit 0.32 0.10
CCM Fixed Income Portfolio -0.14 -0.64
Community Core Fixed Income Composite -0.49 -0.92
Great Lakes Core Government Only -0.86 -0.95
M.D. Sass Core Fix-Inc -0.73 -1.01
Amalgamated Bank Intermediate Duration -0.80 -1.05
Eagle Government Securities Inst -0.59 -1.11
DBF Intermediate Duration Govt/Agency -0.98 -1.13
MFS US Government Fixed Income -0.85 -1.13
Source: Morningstar Separate Account/CIT Fund Database
Intermediate Government 5 year gross return 5 year net return
Semper Active Mortgage-Backed Securities 4.64 4.23
Garcia Hamilton Government/Credit 3.28 3.07
Community Core Fixed Income Composite 2.28 1.90
M.D. Sass Core Fix-Inc 2.07 1.79
Great Lakes Core Government Only 1.81 1.71
MFS US Government Fixed Income 1.90 1.60
Ryan Labs LDI Interm Duration 3-5 1.86 1.48
Chicago Equity Core Fix-Inc 1.72 1.46
Amalgamated Bank Intermediate Duration 1.65 1.40
Northern Trust Government Index 1.41 1.26
Source: Morningstar Separate Account/CIT Fund Database
Intermediate-Term Bond 1 year gross return 1 year net return
Piedmont Inv Advisors Yld Advantage Agg -1.30 7.03
Ross Sinclaire Taxable Total Return 3.51 2.99
BCM Decathlon Conservative Aspect(Pro1) 5.33 2.60
Osterweis Total Return Composite 2.56 2.10
Aegon Structured Finance 2.29 1.98
Destinations Defensive (T) 1.68 1.42
Destinations Defensive (Qual) 1.59 1.36
BBH Core Fixed Income 1.55 1.30
Frost Core Plus Composite 1.88 1.27
DT Intermediate Fixed Income 1.96 1.22
Source: Morningstar Separate Account/CIT Fund Database
Intermediate-Term Bond 5 year gross return 5 year net return
Spectrum Preferred Securities 6.97 6.71
Ross Sinclaire Taxable Total Return 5.66 5.14
PIMCO Diversified Income 5.61 4.89
Piedmont Inv Advisors Yld Advantage Agg 2.53 4.61
PIMCO Global Invstm Grade Corporate 4.76 4.28
Morgan Stanley Core Plus Fix-Inc 4.89 4.25
EARNEST Fixed Income Long Duration 4.55 4.19
BBH Core Fixed Income 4.32 4.06
Templeton Taxable Municipal Intermediate 4.28 4.02
Aegon Structured Finance 4.28 3.99
Source: Morningstar Separate Account/CIT Fund Database
Short Government 1 year gross return 1 year net return
Garcia Hamilton Short Duration 1.12 0.96
Standish Glb Govt-Short Dur (US$ Hedged) 0.90 0.75
M.D. Sass 2-Year FI 0.61 0.34
AB US Low Duration 0.66 0.21
MPI Inv Mgt US Fix-Inc 0.77 0.19
RBC Short Duration: 1-3 Year Government 0.41 0.19
Ryan Labs Short Duration Government 0.25 0.00
Sit Inv Short Dur Strat 0.39 -0.01
RNC Genter Short-Term U.S. Government 0.35 -0.04
Ryan Labs Limited Duration Govt Credit 0.21 -0.04
Source: Morningstar Separate Account/CIT Fund Database
Short Government 5 year gross return 5 year net return
JP Morgan Mortgage Backed Securities 2.74 2.46
Morgan Stanley U.S. Mortgage 2.50 2.36
Sit Inv Short Dur Strat 2.24 1.83
RBC Access Capital Community Invmt 2.24 1.83
Victory INCORE Short Government 1.73 1.37
Garcia Hamilton Short Duration 1.42 1.29
M.D. Sass 3-Year FI 1.62 1.24
M.D. Sass 2-Year FI 1.37 1.12
MPI Inv Mgt US Fix-Inc 1.52 0.97
WFAM Montgomery US Short Duration FI 1.17 0.71
Source: Morningstar Separate Account/CIT Fund Database
Short-Term Bond 1 year gross return 1 year net return
Post Limited Term High Yield Comp 2.57 1.91
Barings Active Short Duration Composite 2.01 1.65
Advisors Capital Mgt Fixed Income 2.33 1.53
Standish Enhanced Cash 1.59 1.51
Lord Abbett Short Duration Credit 1.76 1.33
Aegon Short Duration 1.53 1.29
Frost Intermediate Taxable Composite 1.88 1.27
Segall Bryant Short Term Plus Fixed 1.47 1.27
GW&K Short-Term Focused High Income 1.77 1.22
Sterling Enhanced Cash 1.33 1.21
Source: Morningstar Separate Account/CIT Fund Database
Short-Term Bond 5 year gross return 5 year net return
Manulife AM Strategic Fixed Income Opp 4.03 3.61
Crossmark Income Opportunities 3.91 3.57
Post Limited Term High Yield Comp 4.16 3.48
Frost Intermediate Taxable Composite 3.94 3.47
Newfleet Multi-Sector Short Dur Cpst 3.18 2.69
Manulife AM US Strategic Fixed Income 3.07 2.65
Advisors Capital Mgt Fixed Income 3.21 2.48
PIMCO Mortgage Unconstrained 2.84 2.46
Thornburg Limited Term Income Sep Acct 2.79 2.42
Dodge & Cox Intermediate FI Composite 2.73 2.41
Source: Morningstar Separate Account/CIT Fund Database
Ultrashort Bond 1 year gross return 1 year net return
FIAM Leveraged Loan Composite 5.46 4.93
PIMCO Short Term 2.87 2.43
Pioneer Multi-Asset Ultrashort Income 2.61 2.36
Seix Ultra Short 2.34 2.16
Merganser Floating Rate Bond 2.17 1.99
Western Asset Mgt US Enhanced Cash 2.16 1.96
Baird Ultra Short Bond 2.05 1.90
Federated Active Cash Moderate FI Comp 2.06 1.88
Logan Circle STAMP Cash Plus 1.99 1.85
Western Asset Mgt US Enhanced Liquidity 1.93 1.80
Source: Morningstar Separate Account/CIT Fund Database
Ultrashort Bond 5 year gross return 5 year net return
Schroders Enhanced Securitized 5.99 5.46
FIAM Leveraged Loan Composite 4.56 4.03
BNP Paribas Mortgage Alpha 3.64 3.13
PIMCO Short Term 2.29 1.87
Pioneer Multi-Asset Ultrashort Income 2.02 1.76
Western Asset Mgt US Enhanced Cash 1.63 1.45
Seix Ultra Short 1.49 1.27
Payden & Rygel Enhanced Cash Long 1.32 1.16
Federated Active Cash Moderate FI Comp 1.36 1.09
Logan Circle STAMP Cash Plus 1.21 1.06
Source: Morningstar Separate Account/CIT Fund Database
Long Government 1 year gross return 1 year net return
Ryan Labs Long Treasury -2.04 -2.25
JPM Long Duration -1.99 -2.40
TCW Long Duration Gov -3.04 -3.12
Hillswick Long Duration Government -2.98 -3.33
PIMCO Long Duration Treasury -3.06 -3.51
SSgA Long U.S. Govt Bond Index Strategy -3.51 -3.56
DoubleLine Long Duration Total Return -2.84 -3.59
Hoisington Inv Mgt Macroeconomic FI Comp -3.57 -3.76
Aegon Long US Treasury Strips -4.04 -4.18
Source: Morningstar Separate Account/CIT Fund Database
Long Government 5 year gross return 5 year net return
Hillswick Long Duration Government 5.72 5.39
Hoisington Inv Mgt Macroeconomic FI Comp 5.41 5.18
JPM Long Duration 5.75 4.92
PIMCO Long Duration Treasury 4.70 4.20
TCW Long Duration Gov 3.92 3.81
SSgA Long U.S. Govt Bond Index Strategy 4.39 2.75
Ryan Labs Long Treasury 0.00 0.00
DoubleLine Long Duration Total Return 0.00 0.00
Aegon Long US Treasury Strips 0.00 0.00
Source: Morningstar Separate Account/CIT Fund Database
Long-Term Bond 1 year gross return 1 year net return
Brandywine Global U.S. Fixed Income 1.92 1.62
Ramirez Long Duration Composite 1.73 1.53
Stadion Master Long Duration Fix Inc 0.22 0.21
Calvert Core Bond Strategy 0.41 -0.61
Dorsey Wright Tactical Fixed Income 0.11 -0.79
Full Duration Fixed Income -0.62 -0.86
WSC Core Taxable Fixed Income -0.71 -1.04
Barings Investment Grade Corporate -0.77 -1.05
Loomis Sayles Core Disciplined Alpha -0.88 -1.09
Standish US Investment Grade Corporate -1.09 -1.30
Source: Morningstar Separate Account/CIT Fund Database
Long-Term Bond 5 year gross return 5 year net return
PIMCO Long Term Bond - Long Credit 7.08 6.79
Dodge & Cox Long Duration FI Composite 6.47 6.10
PIMCO Long Term Bond Full Authority 6.33 6.07
Ryan Labs Long-Credit 6.34 6.04
Western Asset Mgt US Long Duration 6.33 6.00
Logan Circle Long Duration 6.22 5.90
FIAM Long Corporate Composite 6.16 5.87
TCW Long Duration Credit 6.05 5.85
Schroders Value Long Duration 5.92 5.72
Morgan Stanley U.S. Long Duration 5.71 5.49
Source: Morningstar Separate Account/CIT Fund Database
Multisector Bond 1 year gross return 1 year net return
Schroder Opportunistic Multi-Sector Sec 6.44 5.66
Putnam Fixed Income Global Alpha Plus 4.90 4.27
PGIM Fixed Inc Absolute Return Composite 3.59 3.12
Aristotle Strategic Credit - Composite 3.10 3.07
TCW Securitized Opportunities 4.03 2.99
Calvert Unconstrained Bond Strategy 2.60 2.41
Morgan Stanley Glb Fxd Inc Opportunities 3.14 2.19
PIMCO Dynamic Full Authority 2.62 1.94
Thornburg Multisector Opportun Sep Acct 2.41 1.84
Bramshill Income Performance Fund 2.57 1.72
Source: Morningstar Separate Account/CIT Fund Database
Multisector Bond 5 year gross return 5 year net return
Schroder Opportunistic Multi-Sector Sec 8.17 7.50
PIMCO Income Composite 6.06 5.49
First Trust Taxable Closed End Fund 6.58 5.05
Guggenheim Fixed Income 4.84 4.49
Loomis Sayles Multi-Sector Full Discretn 4.64 4.31
Newfleet Global Multi-Sector Income Comp 5.69 4.27
Columbia Strategic Income Allocation 4.82 4.20
Newfleet Multi-Sector Opportunistic Cpst 4.60 4.03
FIAM Tactical Bond 4.40 3.98
Thornburg Multisector Opportun Sep Acct 4.60 3.93
Source: Morningstar Separate Account/CIT Fund Database
Inflation-Protected Bond 1 year gross return 1 year net return
Lord Abbett & Co. Inflation Focused – SA 3.87 3.11
BNP Paribas GlobalInflationLinked Bonds 2.67 2.42
Laffer Investments US Inflation Strategy 2.29 1.27
PIMCO Real Ret Asset Long Duration 1.15 0.58
Standish US TIPS Barclays 0.55 0.51
PIMCO Real Return Medium Authority 0.71 0.43
Ryan Labs Inflation Index 0.64 0.39
Wellington TIPS 0.54 0.38
Western Asset Mgt US TIPS Full Discr 0.67 0.37
Franklin U.S. TIPS Composite 0.62 0.36
Source: Morningstar Separate Account/CIT Fund Database
Inflation-Protected Bond 5 year gross return 5 year net return
BNP Paribas GlobalInflationLinked Bonds 4.07 3.81
Laffer Investments US Inflation Strategy 3.44 2.42
PIMCO Real Ret Asset Long Duration 2.84 2.30
Neuberger Berman TIPS 1.59 1.57
Standish Global TIPS 1.51 1.44
Standish US TIPS Barclays 1.46 1.40
BBH U.S. TIPS 1.53 1.38
Northern Trust TIPS 1.43 1.32
IR+M TIPS 1.40 1.30
Ryan Labs Inflation Index 1.57 1.28
Source: Morningstar Separate Account/CIT Fund Database
Stable Value 1 year gross return 1 year net return
PIMCO Stable Value (BV) 3.14 2.95
Invesco Stable Value 2.36 2.16
Putnam Stable Value Composite 2.41 2.16
Standish Stable Value 2.27 2.16
Galliard Stable Value Composite 2.28 1.90
Source: Morningstar Separate Account/CIT Fund Database
Stable Value 5 year gross return 5 year net return
PIMCO Stable Value (BV) 3.08 2.87
Standish Stable Value 2.20 2.10
Invesco Stable Value 2.10 1.89
Putnam Stable Value Composite 2.09 1.85
Galliard Stable Value Composite 2.00 1.60
Source: Morningstar Separate Account/CIT Fund Database
Convertibles 1 year gross return 1 year net return
AllianzGI Convertibles 17.86 17.23
MacKay Shields Convertibles 13.72 13.16
Invesco Convertible Securities 13.73 13.06
Gabelli Asset Mgt Convertibles Strategy 13.06 12.30
Calamos Instl Convertible Composite 12.84 12.05
Lord Abbett & Co. Convertibles 12.85 11.68
Advent Balanced Convertible Strategy 11.86 11.33
ClearBridge U.S. Convertibles 11.89 11.23
SSI Convertible Investment Strategy 11.27 10.70
SSI Inv Grade Convert Strat 11.41 10.51
Source: Morningstar Separate Account/CIT Fund Database
Convertibles 5 year gross return 5 year net return
SSI Inv Grade Convert Strat 13.21 12.21
Advent Investment Grade 10.27 9.80
INCORE Inv Grade Convertibles Comp 10.32 9.71
AllianzGI Convertibles 9.82 9.35
MacKay Shields Convertibles 9.73 9.19
SSI Convertible Investment Strategy 9.56 9.05
Gabelli Asset Mgt Convertibles Strategy 9.31 8.55
Lord Abbett & Co. Convertibles 9.29 8.15
Advent Balanced Convertible Strategy 8.46 7.97
Palisade Convertible Securities Comp 8.52 7.93
Source: Morningstar Separate Account/CIT Fund Database
Emerging Markets Bond 1 year gross return 1 year net return
JPMorgan Emerging Market Debt -1.50 3.22
Finisterre EMTR Composite 2.31 1.52
Lazard EM Debt - Corporate Broad 1.03 0.56
Ashmore EM Corporate Debt High Yld Comp 1.25 0.09
T. Rowe Price Emerging Markets Corp Bd 0.54 0.01
Ashmore EM Ext Debt (Sovn Invt Grd) Comp 0.02 -0.78
Loomis Sayles Emerging Markets Corp Debt -0.27 -0.87
Global Evolution Frontier Markets 0.11 -0.98
SeaCrest Inv Mgmt Intl Sovereign Debt -0.28 -1.24
Capital Group EM Corp Debt (Inv. Grade) -0.75 -1.34
Source: Morningstar Separate Account/CIT Fund Database
Emerging Markets Bond 5 year gross return 5 year net return
PGIM Fixed Income EMD Composite 6.72 6.14
Global Evolution Frontier Markets 7.31 6.08
Fort Washington Emerging Market Debt 6.78 5.97
GMO Emerging Country Debt Strategy 6.29 5.51
Global Evolution EM Debt 6.52 5.46
FIAM Emerging Market Debt Composite 5.96 5.28
JPMorgan Emerging Market Debt 5.48 5.21
Finisterre EMTR Composite 5.94 5.17
Ashmore EM Ext Debt (Sovereign) Comp 6.12 5.17
Payden & Rygel Emerging Markets 5.63 5.14
Source: Morningstar Separate Account/CIT Fund Database
World Allocation 1 year gross return 1 year net return
PIMCO StocksPLUS Absolute Return 18.46 17.70
PIMCO StocksPLUS Enhanced Equity 17.94 17.50
PIMCO RAE PLUS 17.35 16.45
ICON - SBI Global Moderate 13.46 12.05
Morgan Stanley Glbl Tactical Asset Alloc 9.83 9.52
Northern Trust NFP Growth Mod Inc Active 7.75 7.48
Northern Trust NFP Passive Gr Mod Inc 6.98 6.72
Lazard Cap Alloc -Gbl Div 75/25 (TX) 6.74 6.65
Sterling AS Growth (All Funds) 6.69 6.49
Innealta Global All Asset Opp Growth 8.17 6.36
Source: Morningstar Separate Account/CIT Fund Database
World Allocation 5 year gross return 5 year net return
PIMCO StocksPLUS Absolute Return 14.97 14.30
PIMCO StocksPLUS Enhanced Equity 14.47 14.00
PIMCO RAE PLUS 13.17 12.28
ICON - SBI Global Moderate 9.77 8.71
Morgan Stanley Glbl Tactical Asset Alloc 8.66 8.34
DMAP Moderate Relative Return USD-H 8.14 7.38
LMCG Global Multicap with ETF 8.37 6.89
Northern Trust NFP Passive Gr Mod Inc 7.08 6.83
First Trust Balanced Closed-End Fund 8.27 6.59
CLS AdvisorOne Risk Budget 85 Mod Aggr 6.47 6.47
Source: Morningstar Separate Account/CIT Fund Database
Conservative Allocation 1 year gross return 1 year net return
MCA Conservative Portfolios 21.96 21.00
AAM Credit Opportunities 14.43 12.98
AllianzGI Income & Growth 11.87 11.40
Copeland Large Cap Div Growth Balanced 12.85 11.20
Clark Navigator MultiStrategy 50-50 10.04 9.65
ASAP Balanced Strategy 6.83 6.57
Mesirow Active Risk Managed 6.65 6.27
iSectors Tactical Glbl Bal Allocation 7.04 6.19
FEG Moderate Growth Portfolio 6.79 6.03
Taxable Frontier Asset Mgmt Balanced 6.55 6.02
Source: Morningstar Separate Account/CIT Fund Database
Conservative Allocation 5 year gross return 5 year net return
MCA Conservative Portfolios 12.42 11.58
Clark Navigator MultiStrategy 50-50 9.50 9.12
Copeland Large Cap Div Growth Balanced 9.44 8.68
AllianzGI Income & Growth 8.66 8.24
AMP Moderately Conservative 7.10 6.69
ASAP Balanced Strategy 6.42 6.18
Morningstar Balanced - Advisor Group WMP 6.14 6.14
ACM Growth & Income 51 6.70 5.83
VCM Target Return Conservative Lite 7.06 5.82
Tocqueville Enhanced Income Composite 6.65 5.64
Source: Morningstar Separate Account/CIT Fund Database
Moderate Allocation 1 year gross return 1 year net return
MCA Balanced Portfolios 28.11 27.29
WJA Equity Oriented (Balanced) Composite 19.94 19.16
Johnson Institutional Mgt Enhanced Index 16.11 15.74
C.J. Lawrence Balanced Strategy 17.04 15.46
Congress Asset Mgt Balanced 16.00 15.39
Janus Henderson Balanced 14.69 14.15
Full Duration Balanced 14.32 13.93
Granite Balanced 14.56 13.81
Calvert Balanced Strategy 11.01 13.29
Montag & Caldwell Balanced 13.37 13.04
Source: Morningstar Separate Account/CIT Fund Database
Moderate Allocation 5 year gross return 5 year net return
Johnson Institutional Mgt Enhanced Index 14.09 13.77
MCA Balanced Portfolios 13.90 13.11
C.J. Lawrence Balanced Strategy 11.51 10.33
Congress Asset Mgt Balanced 10.52 9.82
WJA Equity Oriented (Balanced) Composite 10.42 9.73
Sit Inv Balanced 10.39 9.57
Janus Henderson Balanced 10.04 9.50
Dodge & Cox Balanced Composite 9.57 9.33
CCM Core Balanced 10.04 9.23
Investment Management of Virginia Balanc 9.77 9.21
Source: Morningstar Separate Account/CIT Fund Database
Target Date 2000-2010 1 year gross return 1 year net return
FIAM Index Target Date 2055 Composite 11.03 10.96
FIAM Index Target Date 2040 Composite 11.02 10.95
FIAM Index Target Date 2050 Composite 11.02 10.95
FIAM Index Target Date 2045 Composite 11.00 10.94
FIAM Index Target Date 2060 Composite 11.00 10.93
FIAM Index Target Date 2035 Composite 10.75 10.68
FIAM Target Date 2040 Composite 10.04 9.90
FIAM Target Date 2055 Composite 10.02 9.87
FIAM Target Date 2045 Composite 10.00 9.86
FIAM Target Date 2060 Composite 9.97 9.83
Source: Morningstar Separate Account/CIT Fund Database
Target Date 2000-2010 5 year gross return 5 year net return
FIAM Target Date 2055 Composite 9.99 9.64
FIAM Target Date 2050 Composite 9.93 9.58
FIAM Target Date 2045 Composite 9.92 9.57
FIAM Target Date 2040 Composite 9.91 9.56
FIAM Target Date 2035 Composite 9.80 9.45
FIAM Index Target Date 2055 Composite 9.42 9.31
FIAM Index Target Date 2050 Composite 9.38 9.27
FIAM Index Target Date 2045 Composite 9.37 9.26
FIAM Index Target Date 2040 Composite 9.36 9.24
FIAM Index Target Date 2035 Composite 9.25 9.13
Source: Morningstar Separate Account/CIT Fund Database
Target Date 2016-2020 1 year gross return 1 year net return
FIAM Index Target Date 2020 Composite 6.78 6.71
Source: Morningstar Separate Account/CIT Fund Database
Target Date 2016-2020 5 year gross return 5 year net return
FIAM Index Target Date 2020 Composite 6.71 6.59
Source: Morningstar Separate Account/CIT Fund Database
Target Date 2021-2025 1 year gross return 1 year net return
Sage Target Date 2025 Fund 4.21 3.79
Source: Morningstar Separate Account/CIT Fund Database
Target Date 2021-2025 5 year gross return 5 year net return
Sage Target Date 2025 Fund 6.04 5.62
Source: Morningstar Separate Account/CIT Fund Database
Target Date 2031-2035 1 year gross return 1 year net return
Sage Target Date 2035 Fund 7.48 7.05
Source: Morningstar Separate Account/CIT Fund Database
Target Date 2031-2035 5 year gross return 5 year net return
Sage Target Date 2035 Fund 7.54 7.11
Source: Morningstar Separate Account/CIT Fund Database
Target Date 2041-2045 1 year gross return 1 year net return
Sage Target Date 2045 Fund 9.62 9.18
Source: Morningstar Separate Account/CIT Fund Database
Target Date 2041-2045 5 year gross return 5 year net return
Sage Target Date 2045 Fund 8.44 8.01
Source: Morningstar Separate Account/CIT Fund Database
Retirement Income 1 year gross return 1 year net return
Horizon Hybrid Real Spend 7 7.99 7.68
Horizon Hybrid Real Spend 6 7.32 7.01
Horizon Real Spend 7 7.46 6.42
Horizon Hybrid Real Spend 5 6.62 6.31
Horizon Real Spend 6 6.92 5.88
Horizon Real Spend 5 6.58 5.54
Horizon Hybrid Real Spend 4 5.77 5.46
Horizon Real Spend 4 5.85 4.82
Horizon Hybrid Real Spend 3 4.97 4.66
Texas Retirement Income Strategy 4.59 4.44
Source: Morningstar Separate Account/CIT Fund Database
Retirement Income 5 year gross return 5 year net return
Beacon Dividend Income Composite 8.18 6.74
Texas Retirement Income Strategy 7.00 5.58
Horizon Real Spend 7 6.87 4.98
Horizon Real Spend 6 6.86 4.97
Horizon Real Spend 5 6.37 4.49
Horizon Real Spend 4 6.22 4.34
Morningstar Ret Inc Long-Range - TDA 4.85 3.41
Morningstar Ret Inc Long-Range - BNY 4.86 3.26
Morningstar Ret Inc Mid-Range - BNY 4.39 2.80
Morningstar Ret Inc Mid-Range - TDA 4.22 2.78
Source: Morningstar Separate Account/CIT Fund Database
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