Rainier Fixed Income Overview

Objective

Our strategy emphasizes high-quality bonds and intermediate-term durations with the goal of providing consistent above-market returns with relatively less risk than the overall market.

High Credit Quality and Research

Maintain high average-quality portfolio using only investment-grade bonds (Average quality AA or higher throughout history)
Independent fundamental research on corporate issues

We Believe Yield is Key

Yield is the most important element in total return
Construct portfolios with higher yields than overall market without sacrificing credit quality

Longer Term Investment Horizon

3-5 year outlook
Minimizes volatility
Fully invested at all times

Value Added Techniques

Emphasize individual security and market-sector selection
Opportunistically exploit undervalued securities
Disciplined duration management through gradual shift in portfolio composition

Benchmarks

Barclays Capital U.S. Inter. Government/Credit Bond Index

Available Investment Vehicles

	Mutual Fund - Original	Separate Account
Vehicle Name	Intermediate Fixed Income Portfolio	Intermediate Fixed Income (formerly Moderate Duration Fixed Income)
Inception Date	5/10/1994	1/1/1987
Symbol	RIMFX	N/A
Sales Load	N/A	N/A
12b-1 Fees	0.10%	N/A
Fee Schedule	N/A	Please contact a client service representative
Minimum Investment	$2,500	$10,000,000
Minimum through Schwab and Fidelity	$2,500	N/A
Custodian and Trustee	N/A	N/A

Dividend

Monthly

Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.

Distributed by Quasar Distributors, LLC.

Source: Rainier Moderate Duration Fixed Income Composite and Barclays Capital.