BLUE CURRENT US DIVIDEND GROWTH STRATEGY June 2019

BLUE CURRENT US DIVIDEND GROWTH STRATEGY

June 2019

STRATEGY

Incepted in May 2014 The investment process identifies companies with increasing dividends, higher levels of free cash flow growth, attractive valuations, and low leverage.

OBJECTIVE

Dividend growth at or above the market rate. Stable cash flow via dividend yield. Generate an attractive investor total return.

PORTFOLIO

Concentrated with 35 to 50 holdings. Focused on US domiciled companies. Minimum dividend yield at purchase of 2%. No K-1 generating securities.

SEPARATELY MANAGED ACCOUNT DETAILS

Structure Inception Date

Separately Managed Account May 2014

GIPS compliant

PORTFOLIO MANAGERS

Dennis Sabo, CFA dsabo@

CONTACT INFORMATION:

Blue Current Asset Management Jeremy Diem - Head of Institutional Sales 1380 West Paces Ferry Road, Suite 1000 Atlanta, GA 30327 484-319-6306 info@

The Blue Current U.S Dividend Composite ("The Composite") was created in May 2014. Blue Current claims compliance with the Global Investment Performance Standards (GIPS?). Blue Current has been independently verified for the periods January, 2009 to December, 2017. 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 verification report is available upon request. Ashland Partners & Company verified for the periods January, 2009 to December 2016 and ACA Performance Services has verified performance from January 2017 to December 2017. Net of fee performance reflects deduction of the highest management fee of 1%. Investors should not rely on these past gains as an indication of future performance. Past performance is not indicative of future returns and results will vary among client accounts. The actual return and value of an account will fluctuate and at any point in time could be worth more or less than the amount invested. Composite returns represent investors domiciled primarily outside of the United States, and therefore, returns are calculated net of a withholding tax of 30% applied to USsourced dividends. Withholding taxes may vary according to the investor's domicile. More information on The Composite is available upon request. Blue Current Asset Management is a division of Edge Capital Group, LLC ("Edge"). Edge is an independently managed registered investment adviser based in Atlanta, Georgia. Blue Current manages separate account strategies with defined investment objectives styles.

12%

10%

8%

6%

4%

3.7% 2.4%

2%

0% Q2

Sector Exposure Consumer Discretionary Consumer Staples Energy Financials Health Care Industrials Information Technology Materials REITS Telecommunications Utilities Cash

HISTORICAL TOTAL RETURNS

8.1% 7.6%

10.5% 9.4%

1 Year

3 Year

BC US

Russell 1000 Value Net Index

Strategy 12% 14% 8% 11% 6% 11% 14% 2% 5% 3% 6% 8%

Index 6% 9% 9% 23% 13% 9% 6% 4% 5% 8% 7% 0%

7.8% 7.3%

Since Inception

Difference 6% 5% -1% -12% -7% 2% 8% -2% 0% -5% -1% 8%

Strategy

2014*

5.2%

2015

-1.1%

2016

12.7%

2017

15.5%

2018

-5.8%

2Y0T1D8

1-55..58%%

*Inception 5/2014

Top 10 Holdings Procter & Gamble Kimberly Clark Cisco Systems Nextera Energy Bank of America Johnson & Johnson JP Morgan Microsoft Crown Castle Corning

Russell 1000 Value Net Index

9.1% -4.5% 16.4% 12.9% -8.9% 1-58..83%%

Portfolio 3.3% 3.3% 3.0% 3.0% 3.0% 3.0% 3.0% 2.8% 2.8% 2.8%

Portfolio Qualities Std Deviation Since Inception Positions Median Market Cap ($bn) Dividend Yield Trailing One Year Dividend Growth Net Debt to EBITDA Return on Equity Trailing Price to Earnings Trailing Earnings Growth Current Year Price to Earnings Current Year Earnings Growth

10.6% 37 $63 2.7%

12.7% 1.6 18.6 18.0 14% 16.2 8%

Marketcap Distribution Less than $10bn $10bn to $20bn $20bn to $50bn Greater than $50bn

Portfolio 5% 9% 29% 57%

Although there is no clearly comparable benchmark, The Composite is measured against the Russell 1000 Value Net Index.The benchmark Russell 1000 Value Net Index includes 729 stocks located in the United States. The benchmark Russell 1000 Value Index measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth. More information on The Composite and its historical annual dividend growth rate is available upon request. Sources of data include Bloomberg, Morningstar Direct and Edge Capital Group.

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