Alternative Investments

BGO is a leading, global real estate investment management advisor, real estate lender, and a globally recognized provider of real estate services. BGO has expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in 28 cities across 14 countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets in primary, secondary and co-investment markets. BGO is a part of SLC Management, which is the institutional alternatives and traditional asset management business of Sun Life.

Crescent Capital invests in debt securities at all levels of a company’s capital structure. For over 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately originated debt securities including senior bank loans, high yield bonds, and private senior, unitranche, and junior debt securities. The firm believe that these asset classes provide investors with opportunities to generate income while preserving capital. Crescent Capital is a part of SLC Management which is the institutional alternatives and traditional asset management business of Sun Life.

InfraRed Capital Partners is an international infrastructure investment manager. From their offices in London, New York, Sydney, and Seoul, InfraRed actively manages over 300+ infrastructure projects in across the globe, from wind farms and solar parks to fiber optic communications and mobile phone towers. InfraRed aims to achieve compelling investment returns, while delivering the infrastructure that enables communities to thrive. InfraRed is a part of SLC Management which is the

institutional alternatives and traditional asset management business of Sun Life.

Exchange-Traded Funds

Based in Illinois, Brentview Investment Management is an employee-owned, certified minority business enterprise** with a singular focus on dividend growth investing. The seasoned team has 25+ years of experience across various market environments. Brentview has a proven track record of investing solely in dividend-paying equities with

a focus on quality companies and controlling risk.

ICE Data Services' multi-asset class index solution supports all aspects of the benchmarking and performance measurement process. With benchmark and bespoke indices on a common platform you can efficiently manage assets and workflow. ICE Data Indices combines leading reference data, evaluated pricing and analytics along with an established track record in index provisioning spanning 50 years to deliver unique, best-in-class index solutions. In addition to index provisioning, our global team calculates indicative optimized portfolio value (IOPV) across multiple asset classes including funds that include fixed income and hard-to-price assets. Calculations use

real-time market data across a broad range of asset classes around the globe, and are generated up to every 1 second for 23.5 hours a day, 6 days a week.

NYSE Group is a subsidiary of Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses, and a provider of data and listings services. NYSE Group includes exchanges, market data and connectivity services. The equity exchanges — the New York Stock Exchange, NYSE American and NYSE Arca — trade more U.S. equity volume than any other exchange group. NYSE is the premier global venue for capital raising, leading worldwide in initial public offerings (IPOs), including technology IPOs. NYSE Arca Options and NYSE Amex Options are leading equity options exchanges.

Pence Capital Management’s founding principles bring together the study of human behavior and economic analysis. The investment team is comprised of professionals with diverse perspectives and credentials as economists, experts in behavioral finance, psychology specialists and former military leaders. The company was founded by E. Dryden Pence III, a Harvard-educated economist with 30 years of experience in the financial industry, and a retired Army Colonel specializing in Intelligence, Special Operations and Psychological Warfare.

Founded in 1998, Sawgrass Asset Management is a Florida-based, 100% employee-owned firm. Sawgrass’ conservative, repeatable investment process seeks to uncover opportunities with low price volatility, consistent/stable earnings growth and attractive valuations. The investment process has demonstrated success in providing strong risk-adjusted returns versus its peers, driven by downside protection. Sawgrass prides itself on its commitment to its core values of integrity, respect, hard work and ethical behavior.

S&P Dow Jones Indices (SP DJI) is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on S&P Dow Jones’ indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has become home to over 1 million indices across the spectrum of asset classes that have helped define the way investors measure and trade the markets.

Vident Asset Management is a specialized exposure and solutions provider to sponsors of index and active investment strategies. The firm brings their expert thinking, technical and operational capability, and seamless execution to a diverse set of partners, so they can provide their clients with specialized exposure solutions. The Vident team’s collective industry experience includes decades in portfolio management and trading,

as well as product development, marketing, and distribution. The firm’s success and that of its clients is a result of inspired collaboration and innovation. Through the blending of diverse and deep experience, Vident helps clients tackle their most important challenges, assess new opportunities, and deliver solutions.

Managed Accounts

Based in Illinois, Brentview Investment Management is an employee-owned, certified minority business enterprise** with a singular focus on dividend growth investing. The seasoned team has 25+ years of experience across various market environments. Brentview has a proven track record of investing solely in dividend-paying equities with
a focus on quality companies and controlling risk.

Founded in 1998, Sawgrass Asset Management is a Florida-based, 100%
employee-owned firm. Sawgrass’ conservative, repeatable investment process seeks to uncover opportunities with low price volatility, consistent/stable earnings growth and attractive valuations. The investment process has demonstrated success in providing strong risk-adjusted returns versus its peers, driven by downside protection. Sawgrass prides itself on its commitment to its core values of integrity, respect, hard work and ethical behavior.

Todd Asset Management is a boutique, institutional Kentucky-based firm. Todd

is majority employee-owned with a history of performance-driven management.

The investment team averages more than 30 years industry experience and has remained dedicated to its proprietary, price/intrinsic value philosophy since its introduction in 1986.

Founded in 2002, Washington Crossing Advisors, LLC (WCA)* is a registered investment advisor and wholly-owned subsidiary of Stifel Financial Corp. The firm operates as a nimble, independent company with the deep resources and significant financial strength of a larger firm. WCA believes that investments should be selected after analyzing clear and quantified measures of value, risk, and potential reward.

Mutual Funds

HIMCO, the asset management arm of the Hartford Insurance Group, Inc.,

was established in 1981. The investment team has broad experience managing

assets across the global fixed income, equity and alternative markets. The culture fosters debate within a collegial atmosphere, to gain maximum value from each individual’s experience.

Insight Investment is a global, investment led specialist asset manager. Insight is an opportunistic credit-focused manager that seeks to minimize idiosyncratic risk with

over 20 years dedicated to fixed income investing.

Shenkman Capital Management is one of the largest institutional, boutique firms focused exclusively on high yield management. Their experienced, highly disciplined team utilizes a conservative, consistent process dedicated to capital preservation,

the compounding of income over time and avoiding defaults.

Unit Investment Trusts

Cyrus J. Lawrence LLC (CJL) is a New York-based investment boutique owned and operated by the former principals of the account management division of International Strategy & Investment Inc. (“ISI Inc.”). CJL combines the talents of legendary strategist James E. Moltz with a highly experienced team of investment professionals who have

a long-term record of utilizing their portfolio strategy expertise to build innovative portfolios that can potentially benefit from trends they uncover.

Founded in 1986, Cohen & Steers is a global investment manager specializing in liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. They are among the largest real estate investment trust (“REIT”) managers in the U.S. and employ a significant research and trading staff. Many investors have come to view Cohen & Steers as an important source for income-oriented investment products.

Pence Capital Mangement has over 30 years experience managing assets through the mine fields of the markets. Their investment process is derived from this experience, coupled with discipline and principles. Their process seeks to find a “big knowable theme” that they expect may drive investment performance by creating either a

tailwind or headwind that may affect economies and/or corporate earnings.

PEO Partners (“PEO”) is a privately held investment firm established in 2019 by Randy Cohen, Senior Lecturer in the finance department at Harvard Business School, and

Jean-Louis Lelogeais, who co-founded SVP Global, a leading global distressed and restructuring firm. PEO specializes in developing liquid PE investment solutions with

the potential to increase overall portfolio performance, reduce risk, and provide diversification from the traditional 60/40 mix of equities and bonds.

Peroni Portfolio Advisors Inc. was established in June 2016. Gene Peroni tracks

nearly 1,000 stocks daily, analyzing price movements, money flow and relative strength characteristics. His analysis seeks to identify leading stocks in the market by examining a stock’s price architecture, accumulation and distribution trends and the relative strength of its respective industry sector.

Founded in 1998, Sawgrass Asset Management is a Florida-based, 100%

employee-owned firm. Sawgrass’ conservative, repeatable investment process seeks

to uncover opportunities with low price volatility, consistent/stable earnings growth and attractive valuations. The investment process has demonstrated success in providing strong risk-adjusted returns versus its peers, driven by downside protection. Sawgrass prides itself on its commitment to its core values of integrity, respect, hard work and ethical behavior.

Todd Asset Management is a boutique, institutional Kentucky-based firm. Todd

is majority employee-owned with a history of performance-driven management.

The investment team averages more than 30 years industry experience and has remained dedicated to its proprietary, price/intrinsic value philosophy since its introduction in 1986.

Founded in 2002, Washington Crossing Advisors, LLC (WCA)* is a registered investment advisor and wholly-owned subsidiary of Stifel Financial Corp. The firm operates as a nimble, independent company with the deep resources and significant financial strength of a larger firm. WCA believes that investments should be selected after analyzing clear and quantified measures of value, risk, and potential reward.

* Advisors Asset Management, Inc. (“AAM”) is acting as a promoter of Washington Crossing Advisors, LLC’s (“Washington Crossing”) advisory services. AAM is not a current client of Washington Crossing. AAM receives cash compensation from Washington Crossing in connection with introducing, marketing, and promoting Washington Crossing, and such compensation is described in greater detail in the footnotes/endnotes of

this presentation/marketing materials. The compensation arrangement results in material conflicts of interest, including an incentive for AAM to “endorse” Washington Crossing and its advisory services.

Advisors Asset Management, Inc. (“AAM”), a registered broker dealer with the SEC and a member of FINRA, is acting as a promoter of Washington Crossing Advisors, LLC’s (“Washington Crossing”) advisory services. Washington Crossing is not affiliated with AAM or its affiliates. Washington Crossing pays AAM a fee that is generally a percentage of the fee Washington Crossing receives pursuant to the applicable advisory agreement between Washington Crossing and the sponsor of a wrap program. Due to this compensation arrangement, AAM has a financial incentive to “endorse” Washington Crossing and its advisory services. AAM’s relationship with Washington Crossing, including the fee arrangement, is governed by a separate agreement. AAM is not a current client of Washington Crossing.

To view the Top 10 Holdings, please see the following ETF and Mutual Fund fact cards:
BDIV, PFLD, SAWG, SAWS, SPDV, TRFM, AAM/HIMCO Short Duration Fund, AAM/Insight Select Income Fund,

Shenkman Capital Floating Rate High Income Fund, Shenkman Capital Short Duration High Income Fund

**Minority Certification: Chicago Minority Supplier Development Council – Nationally Recognized; Certifications are renewed annually.

You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the AAM Mutual Funds before investing. The Funds’ prospectuses and summary prospectuses contain this and other information about each Fund, and should be read carefully before investing. You may obtain a current copy of each funds’ prospectus and summary prospectus by calling 888.966.9661.

Unit Investment Trusts (UITs) are sold only by prospectus. You should consider the trust’s investment objectives, risks, charges

and expenses carefully before investing. Contact your financial professional or visit Advisors Asset Management online at www.aamlive.com/uit to request a prospectus, which contains this and other information about the trust. Read it carefully

before you invest or send money.

The exchange-traded fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus and summary prospectus contains this and other important information about the investment company, or a free,

hard-copy may be obtained by calling 800.617.0004. Read it carefully before investing.

Investing involves risk, including the possible loss of principal.

AAM ETFs are distributed by Quasar Distributors, LLC. The Mutual Fund Family is distributed by IMST Distributors, LLC.

Quasar, IMST and AAM are not affiliated.

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