Seix Investment Advisors Boutique Perspective China needs to devalue its currency, but at the same time is concerned about the impact devaluation would have on global risk sentiment and asset prices given the crash in the Chinese equity market and the selloff in global risk markets that occurred back in August. Yuan devaluation on the order of 15-20% would be a market shock no doubt, but it would reset the markets rather than having this cat and mouse game between China and the market over the currency’s value. Chinese locals continue to move money out of China concerned about a devaluation, which has led to unprecedented capital outflows. As a result of these capital outflows, and in order to tame speculators looking to profit from currency devaluation, China has used significant amounts of its foreign exchange reserves to manage the value of its currency. Page 6 rebalancing combined with the massive increase in debt/leverage as well as its overvalued currency paint a picture that China will not be to the global economy over the next five years what it was to the global economy since the Great Recession.

The ultimate question is, which countries have the capacity going forward to be the new engine of growth, similar to what China and the emerging markets were to the global economy over the last five to seven years? No matter what levers were being pulled by policymakers in this over levered global economy, the structural problems consistently overwhelmed these cyclical responses, but little evidence to date can be found that a better path from policymakers is at hand. So will the next five years be like the last five years? While possible, it is not likely in our view and investors should plan accordingly. China is also in the midst of rebalancing its economy away from investment and exports to more of a consumption and services based economic model. This Asset-Backed Security (ABS) is a financial security backed by a loan, lease or receivables against assets other than real estate and mortgage-backed securities.

For investors, asset-backed securities are an alternative to investing in corporate debt. A Basis Point is equal to 0.01%. Beta is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. Barclays U.S. Aggregate Bond Index is a widely recognized index of securities that are SEC-registered, taxable, and dollar denominated. The Index covers the U.S.

investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities and asset-backed securities. Barclays U.S. Corporate High Yield Index is an unmanaged market value-weighted index that covers the universe of fixed rate, non-investment grade debt. Baltic Dry Index (BDI) is an economic indicator issued daily by the London-based Baltic Exchange. The Index provides an assessment of the price of moving major raw materials by sea. Credit Suisse Leveraged Loan Index is a market-weighted index that tracks the performance of institutional leveraged loans. Commercial Mortgage-Backed Securities (CMBS) are a type of mortgage-backed security that is secured by the loan on a commercial property.

A CMBS can provide liquidity to real estate investors and to commercial lenders. Convexity is a measure of the curvature in the relationship between bond prices and bond yields that demonstrates how the duration of a bond changes as the interest rate changes. Coupon is the interest rate stated on a bond when it’s issued. Credit Ratings noted herein are calculated based on S&P, Moody’s and Fitch ratings. Generally, ratings range from AAA, the highest quality rating, to D, the lowest, with BBB and above being called investment grade securities. BB and below are considered below investment grade securities.

If the ratings from all three agencies are available, securities will be assigned the median rating based on the numerical equivalents. If the ratings are available from only two of the agencies, the more conservative of the ratings will be assigned to the security. If the rating is available from only one agency, then that rating will be used.

Ratings do not apply to a fund or to a fund’s shares. Ratings are subject to change. Credit Spreads are the difference between the yields of sector types and/or maturity ranges. Federal Open Market Committee (FOMC) is the Federal Reserve Board that determines the direction of monetary policy. Gross Domestic Product (GDP) refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country’s standard of living. Negative Interest Rate Policy (NIRP) is an unconventional monetary policy tool whereby nominal target interest rates are set with a negative value, below the theoretical lower bound of zero percent. Quantitative Easing (QE) is an unconventional monetary policy used by some central banks to stimulate their economies when conventional monetary policy has become ineffective. Residential Mortgage-Backed Security (RMBS) is a type of security whose cash flows come from residential debt such as mortgages, home-equity loans and subprime mortgages.

This is a type of mortgage-backed security that focuses on residential instead of commercial debt. Standard & Poor’s 500 Index is an unmanaged index of 500 selected common large capitalization stocks (most of which are listed on the New York Stock Exchange) that is often used as a measure of the U.S. stock market. The Thomson Reuters/CoreCommodity CRB Index is a commodity futures price index. Yield Curve is a curve that shows the relationship between yields and maturity dates for a set of similar bonds, usually Treasuries, at any given point in time. Zero Interest-Rate Policy (ZIRP) is a method of stimulating growth while keeping interest rates close to zero. Investors cannot invest directly in an index. This information and general market-related projections are based on information available at the time, are subject to change without notice, are for informational purposes only, are not intended as individual or specific advice, may not represent the opinions of the entire firm, and may not be relied upon for individual investing purposes. Information provided is general and educational in nature, provided as general guidance on the subject covered, and is not intended to be authoritative.

All information contained herein is believed to be correct, but accuracy cannot be guaranteed. This information may coincide or conflict with activities of the portfolio managers. It is not intended to be, and should not be construed as investment, legal, estate planning, or tax advice.

Seix Investment Advisors LLC does not provide legal, estate planning or tax advice. Investors are advised to consult with their investment professional about their specific financial needs and goals before making any investment decisions. All investments involve risk. Debt securities (bonds) offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss.

Intermediate term, higher quality bonds generally offer less risk than longer-term bonds and a lower rate of return. Generally, a fund’s fixed income securities will decrease in value if interest rates rise and vice versa. There is no guarantee a specific investment strategy will be successful. Past performance is not indicative of future results.

An investor should consider a fund’s investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about the RidgeWorth Funds can be found in a fund’s prospectus. To obtain a prospectus, please call 1-888-784-3863 or visit www.ridgeworth.com.

Please read the prospectus carefully before investing. ©2016 RidgeWorth Investments. All rights reserved. RidgeWorth Investments is the trade name for RidgeWorth Capital Management LLC, an investment adviser registered with the SEC and the adviser to the RidgeWorth Funds.

RidgeWorth Funds are distributed by RidgeWorth Distributors LLC, which is not affiliated with the adviser. Seix Investment Advisors LLC is a registered investment adviser with the SEC and a member of the RidgeWorth Capital Management LLC network of investment firms. All third party marks are the property of their respective owners. RCBP-SA-1215 .