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Mutual Funds

As of September 30, 2008, here are the Frontier Emerging Markets Portfolio Sector Weightings.

Sector Weightings
Sector  

HLFMX

     Comparable Index*

   +/- Comparable Index
Industrials                 

19.3%

7.3%

   12.0%
Materials  

12.3%

4.6%

   7.7%
Telecom Services  

14.2%

7.2%

   7.0%
Cons Discretionary  

10.6%

5.0%

   5.6%
CASH  

2.9%

0.0%

   2.9%
Info Technology  

3.0%

1.3%

   1.7%
Cons Staples  

6.8%

7.4%

   -0.6%
Energy  

7.5%

9.4%

   -1.9%
Health Care  

5.9%

8.0%

   -2.1%
Utilities  

1.1%

3.6%

   -2.5%
Financials  

16.4%

46.2%

   -29.8%

*Comparable Index - The Index comprises 70% S&P/IFC Global Frontier Markets Index and 30% the 17 smaller countries in the MSCI Emerging Markets Index

The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance

The S&P/IFC Global Frontier Markets Index, a subset of the S&P Emerging Markets Index, is designed to measure the equity market performance

Fund holdings and/or sector allocations are subject to change at any time and are not recommendations to buy or sell any security.