Ramirez Asset Management, Inc.

Ramirez Asset Management, Inc. (RAM) was founded in 2002 and is a wholly-owned subsidiary of SAR Holdings, Inc. RAM specializes in providing investment management services for institutional and high net worth investors primarily on a separately managed account basis. The firm offers fixed income strategies including customized programs such as Cash Management, Short Duration, and Long Duration. RAM also provides equity strategies such as International Equity, US Large Cap, and Global Dividend. The firm's investment philosophy focuses on active relative value credit opportunities and fundamental analysis to identify undervalued securities. RAM charges fees based on client assets under management, with negotiable minimum fees for fixed income strategies. The firm does not manage accounts on a performance-based fee basis and acts as a fiduciary for ERISA accounts. RAM provides detailed client reporting and voting services for client securities. The firm does not engage in cross trades and maintains custody of client accounts for certain primary equity strategies. RAM's financial condition is stable, ensuring its ability to fulfill client commitments.