Robert W. Henkel Chief Investment Officerbhenkel@weyland.com

Frank C. Sabin, CFAPortfolio Managerfsabin@weyland.com

Monthly Performance Update May 2010

Weyland Capital Management LLC - 22 Deer Street - Portsmouth, New Hampshire 03801 | p. 603.433.8994 | www.weyland.com

This document reflects the views of Weyland Capital Management as of the dates cited. No representation or warranty is made concerning the accuracy of cited data. Nor is there any guarantee that any projection, forecast or opinion will be realized. The views expressed may change at any time. References to stocks, securities or investments should not be considered recommendations to buy or sell. The value of investments, and the income from them, can fall as well as rise and you may not get back the original amount invested. The value of overseas securities will be subject to exchange-rate fluctuations. Under no circumstances should this information be construed as investment advice. Nor should it be construed as sales or marketing material for any financial instrument, product or service.  Past performance is not a guide to future performance.

Research

2

Track Record

Weyland Capital Management employs a tax-sensitive, globally-diversified

investment approach.  The firm’s “all-weather” investment approach is based

on historical analyses of asset class characteristics, economic conditions and

socio-political events across multiple market cycles.

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

Weyland Capital Management +127.4%

Avg. Balanced Fund+39.9%

S&P 500 Index+8.4%

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 YTD Total Return (12/31/98-05/28/10)

Weyland Capital Management

19.1 9.6 -4.5 -7.6 27.8 16.7 15.1 14.7 7.0 -25.5 26.4 -0.4 127.4

Average Balanced Fund "60/40"

8.7 3.5 -3.0 -10.6 19.0 8.2 4.6 10.8 5.8 -26.7 22.9 0.7 39.9

S&P 500 Index 21.0 -9.1 -11.9 -22.1 28.7 10.9 4.9 15.8 5.5 -37.0 26.5 -1.5 8.4

Notes: Weyland results are after management fees and all transaction costs have been deducted, and reflect all discretionary client accounts since their inception custodied at Charles Schwab & Co. (12/98-Present). Weyland results are a composite figure: account performance dispersion has and will occur due to client-specific cash and security holdings. The Avg. Balanced Fund return is an average of all balanced mutual funds tracked by Morningstar for each time period, and is before front-end and back-end loads. A balanced fund is geared towards investors looking for a mixture of principal protection, income, and capital appreciation, and Weyland considers these funds its primary benchmark. Weyland performance figures are derived by compounding the daily IRR. S&P 500 Index and Avg. Balanced Fund Return data is derived by monthly compounding returns. All performance figures include the reinvestment of dividends and income. S&P 500 Index and Avg. Balanced Fund returns presented are for informational purposes only and are not directly investable, and their holdings and volatility may be materially different from that of Weyland's composite or single client portfolios. Source of Ten Year Balance Mutual Fund comparison is Morningstar as of December 2009. YTD and Total Returns for Avg. Balanced Fund returns uses 60% S&P 500/40% Barclays Capital U.S. Aggregate Bond Index for current calendar year. Past performance is not a guide to future performance.

Growth of hypothetical $1 million investment

3

Market Return Summary

One Month Returns (%)

YTD Returns (%)

YOY Returns (%)

Notes: Weyland results are after management fees and all transaction costs have been deducted, and reflect all discretionary client accounts since their inception custodied at Charles Schwab & Co. (12/98-Present). Weyland results are a composite figure: account performance dispersion has and will occur due to client-specific cash and security holdings. The Avg. Balanced Fund return is an average of all balanced mutual funds tracked by Morningstar for each time period, and is before front-end and back-end loads. A balanced fund is geared towards investors looking for a mixture of principal protection, income, and capital appreciation, and Weyland considers these funds its primary benchmark. Weyland performance figures are derived by compounding the daily IRR. S&P 500 Index and Avg. Balanced Fund Return data is derived by monthly compounding returns. All performance figures include the reinvestment of dividends and income. S&P 500 Index and Avg. Balanced Fund returns presented are for informational purposes only and are not directly investable, and their holdings and volatility may be materially different from that of Weyland's composite or single client portfolios. Source of Ten Year Balance Mutual Fund comparison is Morningstar as of December 2009. YTD and Total Returns for Avg. Balanced Fund returns uses 60% S&P 500/40% Barclays Capital U.S. Aggregate Bond Index for current calendar year. Past performance is not a guide to future performance.

0.8

-0.2

-4.5-5.6

-7.6 -8.0-8.8

-11.5

-13.2U.S. Bonds

(Barclays Agg.)U.S. TIPS Bonds

(Barclays)Balanced Index

(60/40)Weyland Capital

ManagementU.S. Small Stocks

(Russell 2000)U.S. Stocks (S&P 500)

Emerging Mkt Stocks (MSCI)

International Stocks (EAFE)

Commodities (GSCI)

5.6

3.7

2.3

0.7

-0.2 -0.4-1.5

-7.7-9.1

U.S. Small Stocks (Russell 2000)

U.S. Bonds (Barclays Agg.)

U.S. TIPS Bonds (Barclays)

Balanced Index (60/40)

Emerging Mkt Stocks (MSCI)

Weyland Capital Management

U.S. Stocks (S&P 500)

International Stocks (EAFE)

Commodities (GSCI)

33.6

22.4 21.017.5 16.1

8.4 8.26.4

-5.3

U.S. Small Stocks (Russell 2000)

Emerging Market Stocks (MSCI)

U.S. Stocks (S&P 500)

Weyland Capital Management

Balanced Index (60/40)

U.S. Bonds (Barclays Agg.)

U.S. TIPS Bonds (Barclays)

International Stocks (EAFE)

Commodities (GSCI)

Market Return Detail

4

Everything in the red. Everything.

Notes: Performance data sources: iShares, MSCI, GSCI, Morningstar, Weyland, and FT Interactive. Performance figures include the reinvestment of dividends and income, and do not include any underlying expenses.

Small Cap Growth was the “winner”.

Not much dispersion to speak of across size.

The long bond was up 5% (for the MONTH). Wow.

Staying close to home in U.S. provided some downside protection.

Emerging Markets provided little in the way of diversification in May.

Gold provided some insurance in May (despite the Dollar strength).

Sector %MTD %YTD %YOYTelecommunications -3.6 5.8 14.4Real Estate -5.5 10.1 55.5Utilities -5.9 -0.2 14.1Consumer Goods -6.0 -1.5 22.3Transportation -6.8 5.3 38.1Health Care -7.1 -7.1 15.6Technology -7.4 0.4 30.6Basic Materials -9.0 -1.1 29.1Industrials -9.1 3.1 33.4Financials -9.2 0.9 23.6Oil & Gas -11.7 -5.0 2.2

Value vs Growth %MTD %YTD %YOYSmall Cap Growth -6.6 5.0 30.5Mid Cap Growth -6.9 2.5 30.1Mid Cap Value -7.8 3.4 37.6Large Cap Value -7.9 -0.2 22.9Large Cap Growth -8.1 -1.6 19.1Small Cap Value -8.5 6.1 36.6

Size %MTD %YTD %YOYMid Cap -7.4 2.9 33.9Small Cap -7.6 5.6 33.6Mega Cap -7.8 2.8 17.5Large Cap -8.0 -1.5 21.0Micro Cap -8.3 7.5 35.3

Fixed Income %MTD %YTD %YOY20+ Year Treasury 5.2 6.0 6.97-10 Year Treasury 2.5 2.8 5.7U.S. Aggregate 0.8 3.7 8.41-3 Year Treasury 0.3 0.3 1.9U.S. TIPS -0.2 2.3 8.2Corporate Bonds -0.4 1.8 15.9Global Bond Aggregate -1.6 1.6 17.7Global Treasury -3.1 -5.8 -1.8High Yield -3.9 0.9 23.5

Developed Markets %MTD %YTD %YOYCanada -6.9 2.2 17.5United States -8.0 -1.5 21.0Japan -8.1 -3.7 4.6Germany -10.8 -4.7 3.5United Kingdom -10.9 -6.6 9.6Intl Developed -11.5 -7.7 6.4Intl Developed Small -12.3 -4.5 13.9France -13.2 -12.4 -2.0Italy -15.0 -15.1 -13.0Australia -16.7 -10.3 26.5

Emerging Markets %MTD %YTD %YOYChina -4.9 0.6 10.1Mexico -6.7 3.0 37.6Malaysia -6.9 5.9 33.7South Africa -7.3 3.9 24.2BRIC -8.4 -1.9 18.0Emerging Markets -8.8 -0.2 22.4Singapore -8.9 0.5 24.1Brazil -10.5 -4.9 22.4South Korea -13.3 0.1 29.4

Commodities %MTD %YTD %YOYGold 2.7 8.4 23.9Silver -0.5 15.0 19.4Oil & Gas Based (GSCI) -13.2 -9.1 -5.3

5

Disclaimer

Past performance is not a guide to future performance and the value of investments and the income derived from those investments can go down as well as up. Future returns are not guaranteed and a loss of principal may occur.

This material represents the views of Weyland Capital Management LLC (WCM). Certain results shown herein reflect the reinvestment of dividends and other earnings but do not reflect advisory fees, transaction costs and other expenses a client would have paid, which would reduce return. No representation is being made that any client will or is likely to achieve results similar to those shown. Modeled, back tested, simulated and hypothetical results are subject to high levels of uncertainty regarding future economic and market factors that may affect actual future performance. Accordingly, such data should be viewed as merely representative of a broad range of possible returns. The data shown herein should not be construed as providing any assurance or guarantee as to returns that may be realized in the future from investments in any asset or asset class described herein and may not be representative of how we will manage any of our portfolios or allocate funds to such asset classes. WCM makes the assumption that external data and studies are accurate, but can not and has not verified outside sources. WCM does not provide tax advice to its clients and all investors are strongly urged to consult with their tax advisors regarding any possible investment. This document might include performance results. Weyland results are after management fees and all transaction costs have been deducted, and reflect all discretionary client accounts custodied at Charles Schwab & Co (12/98-Present). Weyland results are a composite figure: account performance dispersion has and will occur due to client specific client cash and security holdings. The Average Balanced Fund return is an average of all balanced mutual funds tracked by Morningstar (through December 2009) for each time period, and is before front-end and back-end loads. The Balanced Index "60/40" is a mix of 60% S&P 500 Index and 40% Barclays Capital Aggregate Bond Index. YTD and Total Returns for Average Balanced Fund uses Balanced Index return for current calendar year. The indices presented are for informational purposes only and are not directly investable. The volatility and holdings of the indices shown may be materially different from that of Weyland's composite or single client portfolios. A balanced index is geared towards investors looking for a mixture of principal protection, income, and capital appreciation, and Weyland considers it its primary benchmark. Weyland performance figures are derived by compounding the daily IRR. All Index and Average Balanced Fund Return data is derived by monthly compounding returns, unless otherwise noted. All performance figures include the reinvestment of dividends and income.