901 5th Avenue, Suite 3130Seattle, WA 98164-2008Tel: (800) 258-1388 Fax: (206) 219-2479

301 Battery Street, Suite 400 San Francisco, CA 94111-3203Tel: (800) 204-2650 Fax: (415) 288-6153

whv.com

Building on a Strong History

Founded in San Francisco in 1937, WHV Investment Management (“WHV”) is one of the oldest investment management firms on the West Coast. Founding partner William Wentworth’s vision established a tradition of high-quality investment strategies and a commitment to personalized client service. Over 70 years later, WHV continues upon these founding principles as we provide innovative investment management services to a diverse client base that includes institutions and individuals worldwide.

WHV is headquartered in San Francisco and has an office in Seattle. The firm is a wholly-owned subsidiary of Laird Norton Investment Management, Inc.

Investment Philosophy

We believe that clients can benefit from a focused, consistent and repeatable approach to investment management across all asset classes. Our philosophy is simple but effective: build high conviction portfolios from our best ideas and make investment decisions based on a long-term horizon.

Strategy Offerings

WHV offers multiple distinct investment strategies within international/global equities, emerging market equities and domestic equities. Most notably, the firm’s international and global equity products employ a unique top-down sector selection process that seeks to capitalize on long-term Supercycle trends. Particular attention is devoted to identifying global supply and demand imbalances that are likely to persist over time.

WHV’s domestic equity strategies employ a valuation-sensitive, low-volatility approach. The teams seek to generate alpha through a stock selection process that entails thorough bottom-up fundamental research, with a top-down overlay and a commitment to construct portfolios that reflect conviction in their best ideas.

An Experienced Professional Team

In our industry, experience is crucial. WHV has built its reputation with highly qualified investment professionals who have decades of investment management experience, a strong work ethic and an equally strong commitment to client service. We have a seasoned investment team of portfolio managers and analysts who average over two decades of industry experience and over ten years at WHV. Many have managed portfolios through multiple business cycles, in both bull and bear markets, providing valuable investment experience throughout various environments.

We recruit professionals who are motivated to grow with the firm. Professional staff turnover is low, which means that clients benefit from consistency and are able to establish long relationships with their team at WHV. It has also resulted in a high retention rate with clients who value continuity in addition to competitive performance from their financial partners. This continuity ensures consistency, reliability and familiarity with each client relationship.

A Commitment to Clients

While our clients’ individual needs are different, all embrace the same basic objective: the preservation of capital and growth of assets within a managed level of risk. At WHV, we are committed to meeting each client’s objectives based on short- or long-term considerations, requirements for growth or income and a sensitivity to tax implications where applicable.

Our approach to client service emphasizes building partnerships. A team of professionals, led by a portfolio manager, supports each client to provide a high level of personal attention. A dedicated WHV team member is always available to answer questions and execute requests.

Our team structure has e nabled us to develop long-term partnerships with our clients, some of which have spanned several decades. These relationships have been built on a foundation of personal attention, integrity and performance.

Clients Served

WHV offers investment management services to the following types of investors:

Institutional

WHV has served the needs of institutional investors since 1945. Our clients include U.S. and foreign based corporations, public funds, endowments, foundations, multi-employer pension funds and health-care plans. A number of these institutional relationships have been with the firm over several decades.

Private Wealth

WHV has been committed to meeting the unique investment needs of high net worth individuals and families since 1937. Qualified investors can choose from a variety of equity and balanced strategies to build or enhance their investment portfolio. We collaborate directly with our clients and their financial advisors, in order to provide innovative solutions in line with their specific needs. Families over two and three generations continue to retain WHV’s investment management services as a testament to the strength of service and their relationship with the firm.

Brokers and Financial Advisors

WHV has partnered with financial advisors since 1989. We currently offer a diverse array of carefully selected products for financial advisors and their

clients in a variety of SMA, UMA, dual contract and mutual fund programs. The firm has a dedicated broker sponsored team which shares the common goal with advisors of helping their clients achieve financial success.

Mutual Funds

WHV has offered open-end mutual funds for retail and institutional investors developed from the firm’s separately managed account strategies since 2008.

At WHV Investment Management, we offer stability, integrity and expertise.

Providing Excellence in Investment Management Since 1937

International EquityGlobal EquityDomestic Small Cap EquityDomestic Micro Cap Equity

Emerging Markets EquitySelect World EquityInternational Small Cap EquityDomestic Large Cap Core Equity

WHV Investment Strategies