Separately Managed Accounts

MN Rainier International Small Cap Equity

Investment Objective

Long-term capital appreciation by investing primarily in common stock of small- to mid-capitalization companies located outside the U.S.

Investment Team

The Portfolio Manager for the strategy is Henrik Strabo. Henrik has more than 35 years of investment experience and is supported by a team of dedicated international small cap equity analysts and traders. Henrik has managed the strategy since inception.

Composition

90% to 100% non-U.S. small- to mid-capitalization equities chosen from a broad range of markets, including developed and emerging markets.

90% - 100% Equities

Investment Process

The strategy invests primarily in the common stock of small- and mid-capitalization companies traded outside the U.S. Rainier typically selects investments that fall within the market capitalization range of the MSCI ACWI ex USA Small Cap Index at the time of purchase. The Team will invest in any type of company whether it is in the index or not, as long as it is within the market cap range and fits the investment objectives.

Investment decisions are based on fundamental analysis, which emphasizes bottom-up stock selection of companies that exhibit strong growth, clear key earnings drivers and attractive valuations. The investment team evaluates companies across all sectors and regions using this growth and valuation criteria. To control risk, extreme overweighting or underweighting of the strategy relative to the Index is normally avoided.

Investment Objective

Long-term capital appreciation by investing primarily in common stock of small- to mid-capitalization companies located outside the U.S.

Investment Team

The Portfolio Manager for the strategy is Henrik Strabo. Henrik has more than 35 years of investment experience and is supported by a team of dedicated international small cap equity analysts and traders. Henrik has managed the strategy since inception.

Composition

90% to 100% non-U.S. small- to mid-capitalization equities chosen from a broad range of markets, including developed and emerging markets.

90% - 100% Equities

Investment Process

The strategy invests primarily in the common stock of small- and mid-capitalization companies traded outside the U.S. Rainier typically selects investments that fall within the market capitalization range of the MSCI ACWI ex USA Small Cap Index at the time of purchase. The Team will invest in any type of company whether it is in the index or not, as long as it is within the market cap range and fits the investment objectives.

Investment decisions are based on fundamental analysis, which emphasizes bottom-up stock selection of companies that exhibit strong growth, clear key earnings drivers and attractive valuations. The investment team evaluates companies across all sectors and regions using this growth and valuation criteria. To control risk, extreme overweighting or underweighting of the strategy relative to the Index is normally avoided.

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