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COLLECTIVE INVESTMENT PARTNERSHIPPREPARED FOR

THE ROMAN CATHOLIC ARCHDIOCESE OF BOSTON

DECEMBER 31, 2016

Investment Performance Summary

Presented by:Mr. Frederick WeissManaging Member(p) 212-683-5715(e) [email protected]

For Institutional Use In 1‐on‐1 Presentations Only – Confidential, Do Not Distribute

MPC Capital Advisors, LLC (“MPC”) has exercised reasonable professional care in the preparation of this performance report. However, certain information in this report, such as market indices, security characteristics, etc. is received from sources external to MPC. These sources, including pricing and rating services, issuer reports or communications, etc. are believed to be reliable. While efforts are made to ensure that this data is accurate, MPC cannot accept responsibility for any errors that may occur.

All rates of return for periods longer than one year have been annualized. All rates of return are net of management fees and net of commissions unless otherwise noted. Past performance is not an indication of future results. The contents of this report are not to be construed as an offer or the solicitation of an offer to buy or sell any security. Information used in this study are based upon current opinions as of the date appearing in this material only. While we endeavor to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance or other reasons that prevent us from doing so.

A copy of MPC Capital Advisors, LLC.'s Form ADV, Part II is available without charge upon request. The form ADV Part II is one of the SEC disclosure documents MPC Capital Advisors, LLC required to register as investment advisor. MPC is required to offer this document to all clients on at least an annual basis.

IMPORTANT INFORMATION

1

Ending December 31, 2016 Inception

Market Value12/31/16 ($)

1 Mo NetCash Flows

($)


% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

FiscalYTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Return(%) Since

_

Collective Investment Partners 501,302,642 78,244 496,123,757 100.0 1.0 0.8 7.7 5.6 7.7 2.2 6.7 4.6 6.2 Dec-95Policy Index 1a 1.2 1.1 7.6 3.7 7.6 6.2 9.2 5.8 7.2 Dec-95Policy Index 1 1.2 1.1 8.3 3.6 8.3 6.7 9.7 6.5 7.6 Dec-95Policy Index 2a 1.2 0.8 8.9 5.1 8.9 3.6 7.1 4.7 7.0 Dec-95BBgBarc US Credit Long TR 1.5 -5.4 10.2 -3.3 10.2 7.0 5.2 6.9 7.0 Dec-95CIP Total Equity Composite 298,599,196 -19,698,451 314,304,718 59.6 1.3 1.7 10.6 9.0 10.6 2.7 9.3 4.1 3.6 Dec-99

MSCI ACWI 2.2 1.2 7.9 6.6 7.9 3.1 9.4 3.6 3.2 Dec-99Equity Style Index 2.2 4.0 12.1 9.5 12.1 6.8 13.5 6.3 5.2 Dec-99Large Cap Total Equity Composite 108,126,305 -9,671,857 116,678,602 21.6 0.9 2.3 8.6 8.1 8.6 5.3 12.4 6.0 3.6 Dec-99

Russell 1000 1.9 3.8 12.1 8.0 12.1 8.6 14.7 7.1 4.8 Dec-99S&P 500 2.0 3.8 12.0 7.8 12.0 8.9 14.7 6.9 4.5 Dec-99SSGA S&P 500 Screened Index 2,267,141 0 2,220,623 0.5 2.1 3.6 11.9 8.0 11.9 -- -- -- 5.8 May-15

S&P 500 2.0 3.8 12.0 7.8 12.0 8.9 14.7 6.9 6.2 May-15Institutional Capital 35,620,107 -3,215,979 38,069,168 7.1 2.1 3.7 8.7 7.6 8.7 5.1 11.7 5.5 6.1 Dec-99

Russell 1000 Value 2.5 6.7 17.3 10.4 17.3 8.6 14.8 5.7 6.6 Dec-99GAMCO 36,383,483 -3,231,560 38,933,562 7.3 1.8 6.5 15.1 11.0 15.1 4.6 11.8 -- 10.4 Feb-10

Russell 3000 Value 2.6 7.2 18.4 11.4 18.4 8.6 14.8 5.8 13.0 Feb-10DSM Capital Partners 33,855,573 -3,224,318 37,455,249 6.8 -1.1 -3.1 2.0 5.8 2.0 6.3 14.2 -- 13.0 Oct-08

Russell 1000 Growth 1.2 1.0 7.1 5.6 7.1 8.6 14.5 8.3 14.5 Oct-08US Small/Mid Cap Domestic Equity 72,698,714 -10,008,797 81,144,631 14.5 2.1 6.5 16.8 16.8 16.8 5.7 13.6 -- 14.2 Oct-08

Russell 2000 2.8 8.8 21.3 18.7 21.3 6.7 14.5 7.1 13.6 Oct-08Russell MidCap 1.1 3.2 13.8 7.9 13.8 7.9 14.7 7.9 15.4 Oct-08Frontier Capital 35,714,332 -5,037,423 40,473,372 7.1 0.6 2.0 6.0 12.9 6.0 1.9 11.3 -- 14.0 Oct-08

Russell 2500 Growth 0.9 2.6 9.7 9.8 9.7 5.4 13.9 8.2 15.3 Oct-08Russell 2000 Growth 1.4 3.6 11.3 13.1 11.3 5.1 13.7 7.8 14.3 Oct-08

Silvercrest 36,984,383 -4,971,374 40,671,259 7.4 3.5 11.2 28.0 21.1 28.0 9.5 15.7 -- 15.7 Oct-08Russell 2000 Value 4.1 14.1 31.7 24.2 31.7 8.3 15.1 6.3 12.9 Oct-08Russell 2500 Value 2.9 9.3 25.2 16.1 25.2 8.2 15.0 6.9 14.1 Oct-08


Collective Investment PartnersPerformance Summary As of December 31, 2016

2



1 Mo NetCash Flows

($)


% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

FiscalYTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Return(%) Since

_

Long/Short 18,687,687 0 18,787,894 3.7 -0.5 0.3 9.2 5.5 9.2 -4.5 1.0 -- 1.3 Sep-09HFRX Equity Hedge Index 0.2 0.8 0.1 4.2 0.1 -0.3 2.9 -1.2 0.4 Sep-09S&P 500 2.0 3.8 12.0 7.8 12.0 8.9 14.7 6.9 13.3 Sep-09Wellington-Spindrift Cl A 9,303,765 0 9,451,588 1.9 -1.6 -2.3 20.1 1.4 20.1 -- -- -- -4.7 Jun-15

S&P 500 Energy 1.9 7.3 27.4 9.7 27.4 -2.5 3.9 4.3 3.6 Jun-15Glenview Capital Partners 9,383,922 0 9,336,306 1.9 0.5 3.1 -1.3 9.9 -1.3 -- -- -- -5.0 Sep-15

S&P 500 2.0 3.8 12.0 7.8 12.0 8.9 14.7 6.9 15.6 Sep-15Japanese Equity 17,889,673 0 18,069,737 3.6 -1.0 -6.9 5.0 -1.6 5.0 5.5 11.3 2.0 1.0 Mar-06

MSCI Japan 1.0 -0.2 2.4 8.4 2.4 2.5 8.2 0.5 0.5 Mar-06T-Rowe Price Japan 8,080,181 0 8,127,800 1.6 -0.6 -4.7 11.2 3.7 11.2 5.3 11.0 1.4 0.6 Mar-06Matthews Japan 9,809,493 0 9,941,937 2.0 -1.3 -8.7 0.4 -5.5 0.4 5.7 11.4 2.9 1.6 Mar-06

MSCI Japan 1.0 -0.2 2.4 8.4 2.4 2.5 8.2 0.5 0.5 Mar-06International Developed Mkts 47,601,981 -17,797 46,300,906 9.5 2.8 0.3 3.4 8.3 3.4 -1.9 -- -- 2.9 Apr-13

MSCI EAFE 3.4 -0.7 1.0 5.7 1.0 -1.6 6.5 0.7 1.5 Apr-13Causeway Int'l Value 26,262,967 0 25,591,084 5.2 2.6 0.4 0.4 6.7 0.4 -3.0 -- -- 2.0 Apr-13

MSCI EAFE 3.4 -0.7 1.0 5.7 1.0 -1.6 6.5 0.7 1.5 Apr-13Highclere Int'l SMID Fund 21,339,014 -17,797 20,709,822 4.3 3.0 0.1 10.4 11.5 10.4 -- -- -- 7.6 Oct-15

S&P EPAC SmallCap Value 3.4 -1.0 5.0 7.9 5.0 3.0 11.5 3.5 3.7 Oct-15Emerging Markets 33,594,836 0 33,322,948 6.7 0.8 -3.9 13.3 2.9 13.3 -4.5 0.4 -0.3 4.6 Jun-05

MSCI Emerging Markets 0.2 -4.2 11.2 4.5 11.2 -2.6 1.3 1.8 6.2 Jun-05Lazard Emerging Markets Fund 24,183,592 0 23,634,522 4.8 2.3 -2.8 20.5 5.8 20.5 -2.7 2.3 -- 2.7 Sep-09City National Rochdale Emerging Mkt Y 9,411,244 0 9,688,426 1.9 -2.9 -6.8 -- -- -- -- -- -- -8.2 Sep-16

MSCI Emerging Markets 0.2 -4.2 11.2 4.5 11.2 -2.6 1.3 1.8 -2.9 Sep-16



3



1 Mo NetCash Flows

($)


% ofPortfolio

1 Mo(%)

3 Mo(%)

YTD(%)

FiscalYTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Return(%) Since

_

Total Fixed Income Composite 132,560,105 -2,969,115 134,466,941 26.4 0.6 -1.4 5.0 0.2 5.0 2.6 2.7 4.1 5.1 Dec-99BBgBarc US Aggregate TR 0.1 -3.0 2.6 -2.5 2.6 3.0 2.2 4.3 5.2 Dec-99IR & M Short Fund LLC 33,874,907 -18,000,000 51,587,416 6.8 0.1 -0.3 1.7 -0.2 1.7 1.3 -- -- 1.2 May-13

BBgBarc US Treasury 1-3 Yr TR 0.0 -0.5 0.9 -0.6 0.9 0.7 0.6 2.1 0.7 May-13IR & M Core Bond Fund II LLC 35,522,312 15,000,000 20,413,580 7.1 0.1 -2.7 3.5 -2.0 3.5 3.7 -- -- 2.8 May-13

BBgBarc US Aggregate TR 0.1 -3.0 2.6 -2.5 2.6 3.0 2.2 4.3 2.2 May-13Western Asset Mgmt 32,889,038 -12,435 32,796,920 6.6 0.3 -2.9 4.5 -1.7 4.5 4.0 3.5 -- 5.3 Jun-08

BBgBarc US Aggregate TR 0.1 -3.0 2.6 -2.5 2.6 3.0 2.2 4.3 4.2 Jun-08Franklin Templeton EM Debt 30,020,770 0 29,458,711 6.0 1.9 -1.0 12.4 4.0 12.4 2.9 5.3 -- 4.9 Aug-10

JP Morgan EMBI Global TR 1.4 -4.2 10.2 -0.6 10.2 5.6 5.4 6.8 5.6 Aug-10Commonfund Sidepockets 274,282 25 274,814 0.1 -0.2 -1.1 -5.1 -0.4 -5.1 -12.0 -6.1 -- -5.1 Jul-08

BBgBarc US Credit TR 0.6 -3.0 5.6 -1.8 5.6 4.1 3.8 5.3 5.9 Jul-08Income Research Mgmt -21,205 43,295 -64,499 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.1 -- 3.5 Jun-08

BBgBarc US Aggregate TR 0.1 -3.0 2.6 -2.5 2.6 3.0 2.2 4.3 4.2 Jun-08Cash & Equivalents 60,432,091 22,745,811 37,669,894 12.1 0.0 0.1 -0.1 0.2 -0.1 -0.5 0.9 -- 1.1 Jun-08

91 Day T-Bills 0.0 0.1 0.3 0.2 0.3 0.1 0.1 0.7 0.1 Jun-08SSB MM ILR 60,271,117 22,745,936 37,508,798 12.0 0.0 0.1 0.3 0.2 0.3 0.1 0.1 -- 0.1 Jan-10Century Bank-Money Mkt 12,001 0 11,998 0.0 0.0 0.1 0.3 0.1 0.3 0.1 0.2 1.0 1.5 Jun-03

91 Day T-Bills 0.0 0.1 0.3 0.2 0.3 0.1 0.1 0.7 1.2 Jun-03Convexity Cash 148,973 -125 149,098 0.0 0.0 0.0 -2.6 0.0 -2.6 -1.8 -- -- 0.0 Jun-16

Hedge Funds 9,711,250 0 9,682,203 1.9 0.3 3.6 3.7 7.5 3.7 -- -- -- 0.3 Jun-14HFRI Fund of Funds Composite Index 0.9 0.8 0.5 3.1 0.5 1.2 3.4 1.3 0.6 Jun-14Carlson Capital-Black Diamond RelativeLtd 9,711,250 0 9,682,203 1.9 0.3 3.6 3.7 7.5 3.7 -- -- -- -1.2 Jun-14

HFRI Fund of Funds Composite Index 0.9 0.8 0.5 3.1 0.5 1.2 3.4 1.3 0.6 Jun-14XXXXX



4

Policy Index-1 = the return the Fund would have earned had it been invested in market indexes matching its target asset allocation (indicated below), rebalanced monthly: 12/31/95 to 12/31/00 = 55% S&P 500 Index/45% BBgBarc US Aggregate Bond Index; 12/31/00 to Present = 60% S&P 500 Index/40% BBg Barc US Aggregate Bond Index.

Policy Index-2 = the return the Fund would have earned had it been invested in market indexes matching its new target asset allocation (indicated below), rebalanced monthly: 40% BBgBarc US Aggregate Bond Index + 38%S&P 500 Index + 13% Russell 2000 + 9% MSCI EAFE (Net).

Policy Index 1a =the return the fund would have earned had it been invested in the market indexes matching the proposed allocation (indicated below) rebalanced monthly: 35% BC Aggregate Bond Index + 55% S&P 500 + 10%HFRI FOF.

Policy Index 2a =the return the fund would have earned had it been invested in the market indexes matching the proposed allocation (indicated below) rebalanced monthly: 20% BBgBarc US Aggregate Bond Index + 5% WGBI xUS + 5% ML Hi Yield Master II + 5% HFRI Dist/Restruct. + 22.5% S&P 500 + 12.5% R2000 + 5% MSCI EAFE(Net) +10% MSCI Emerg (Net) + 5% HFRX Eq Hedge +10% HFRI FoF

Equity Policy Index = the return the Fund would have earned had it been invested in market indexes matching its new target asset allocation (indicated below), rebalanced monthly: 63% S&P 500 + 22% Russell 2000 + 15%MSCI EAFE (Net)

Equity Style Index = the return the Fund would have earned had it been invested in market indexes matching its new target asset allocation (indicated below), rebalanced monthly: 25% Russell 1000 Value + 25% Russell 1000Growth + 14% S&P 500 + 7% Russell 2000 Value + 7% Russell 2500 + 7% Russell 2000 Growth + 15% MSCI EAFE (Net)

Actual inception date is the date the firm was retained by the client. Prior history has been added to provide historical perspective and represents returns from the manager's composite results or a similar product (e.g. a mutualfund) managed by the manager. Returns prior to December 31, 1999 were calculated by the prior consulting firm

Fiscal Year End = June 30



1 Mo NetCash Flows

($)


% ofPortfolio Policy % 1 Mo

(%)3 Mo

(%)YTD(%)

FiscalYTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Return(%) Since

_

Fixed Income Fund Composite 56,368,836 -1,004,401 57,289,981 100.0 -- 0.2 0.0 1.6 0.1 1.6 1.0 -- -- 0.8 Jul-1291 Day T-Bills 0.0 0.1 0.3 0.2 0.3 0.1 0.1 0.7 0.1 Jul-12SSB MM ILR (FIF) 38,768 -230 37,609 0.1 0.1 0.2 0.5 0.3 0.5 0.2 -- -- 0.1 Jul-12Century Bank-Money Mkt Fund(FIF) 49,532 -1,000,000 1,049,392 0.1 0.0 0.1 0.3 0.1 0.3 0.3 -- -- 0.3 Jul-12

91 Day T-Bills 0.0 0.1 0.3 0.2 0.3 0.1 0.1 0.7 0.1 Jul-12IR & M - SMA (FIF) 15,715,410 -2,638 15,701,674 27.9 0.1 0.1 1.2 0.3 1.2 0.8 -- -- 0.7 Jul-12

BBgBarc US Govt/Credit 1-3Yr. TR 0.1 -0.4 1.3 -0.4 1.3 0.9 0.9 2.4 0.8 Jul-12

IR & M - Short Fund (FIF) 30,269,026 0 30,214,722 53.7 0.1 -0.3 1.7 -0.2 1.7 1.3 -- -- 1.3 Dec-13BBgBarc US Treasury 1-3 YrTR 0.0 -0.5 0.9 -0.6 0.9 0.7 0.6 2.1 0.7 Dec-13



5

WHG Blended Index = 25% 91Day T-Bill + 25% FTSE NAREIT Eq + 25% Citi Treas 10Yr + 25% S&P 500



1 Mo NetCash Flows

($)


% ofPortfolio Policy % 1 Mo

(%)3 Mo

(%)YTD(%)

FiscalYTD(%)

1 Yr(%)

3 Yrs(%)

5 Yrs(%)

10 Yrs(%)

Return(%) Since

_

Westwood 15,136,734 -11,886 15,046,580 100.0 0.6 -0.2 4.3 0.5 4.3 -- -- -- 4.0 Mar-14WHG Blended Index 1.5 -1.5 5.4 -1.0 5.4 6.5 6.6 4.8 5.8 Mar-1491 Day T-Bills 0.0 0.1 0.3 0.2 0.3 0.1 0.1 0.7 0.1 Mar-14FTSE NAREIT All Equity REIT 4.5 -3.3 8.6 -4.4 8.6 12.7 12.0 5.1 10.6 Mar-14Citi Treasury Benchmark 10 Yr -0.4 -6.8 -0.1 -7.5 -0.1 3.7 1.4 4.9 2.8 Mar-14S&P 500 2.0 3.8 12.0 7.8 12.0 8.9 14.7 6.9 9.0 Mar-14FTSE High Dividend Yield TR USD 2.9 5.8 17.0 7.6 17.0 10.1 14.4 7.2 10.2 Mar-14

XXXXX



6

new mpc rcab erp mthly covers 2015 · mpc. these sources, including pricing and rating services,...

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