Flex Portfolio Performance Through June 2012

After a terrible month of May, the U.S. stock markets had a terrific month of June.  Our "Flex" portfolios continue to provide reduced volatility and are tracking closely their customized/blended benchmarks in the near-term while significantly out-performing the stock markets and the blended benchmarks for the 3-, 5- and 10-year periods.  Data is below:

US and Foreign Stocks	1 mo	3 mo	YTD	1 yr	2 yr	3 yr	5 yr	10 yr
Stock Markets (50/40/10)	3.3%	-4.5%	6.3%	-3.6%	10.9%	11.1%	-2.3%	6.1%
S&P 500	4.1%	-2.8%	9.5%	5.5%	17.4%	16.4%	0.2%	5.3%
MSCI EAFE	7.0%	-7.1%	3.0%	-13.8%	6.0%	6.0%	-6.1%	5.1%
Barclays Aggregate Bond--US	4.0%	2.1%	2.4%	7.5%	5.7%	6.9%	6.8%	5.6%
Barclays Aggregate Bond--Global	0.5%	0.6%	1.5%	2.7%	6.6%	6.0%	6.7%	6.5%
Moderately Aggressive Benchmark	4.5%	-3.5%	5.4%	-2.2%	10.8%	10.4%	-0.7%	5.7%
80 Flex III	3.0%	-2.3%	4.8%	-1.8%	9.4%	10.7%
80 Flex II	2.9%	-2.8%	4.8%	-1.1%	9.5%	11.1%	6.7%	10.4%
80 Fidelity	4.4%	-3.6%	5.7%	-2.8%	10.7%	10.5%	-0.8%	5.7%
Moderate Benchmark	4.8%	-2.4%	4.9%	-0.1%	10.1%	10.0%	1.4%	6.2%
60 Flex III	1.9%	-1.2%	5.0%	-0.2%	8.3%	10.0%
60 Flex II	3.7%	-2.2%	5.2%	-0.5%	9.0%	10.6%	7.1%	10.1%
60 Fidelity	3.3%	-2.3%	4.8%	-0.5%	9.3%	9.3%	0.9%	5.6%
Moderately Conservative Benchmark	1.8%	0.7%	3.6%	2.7%	8.6%	8.3%	3.4%	6.1%
40 Flex III	2.0%	-0.5%	5.2%	-0.9%	7.5%	9.4%
40 Flex II	2.0%	-0.7%	5.2%	1.3%	7.6%	9.6%	7.8%	9.5%
40 Fidelity	1.8%	-0.8%	4.0%	2.5%	7.8%	8.2%	2.7%	5.6%
Asset Allocation	Cash	Stock	Bond	Other
80 Flex II	21%	52%	15%	12%
60 Flex II	25%	39%	27%	9%
40 Flex II	29%	26%	38%	7%