Investment Management Wealth Management Contact Login Insights Video Filter by Type Video Topic All Period All Apply Video Concerns Around the Labor Participation Rate October 21, 2021 Video Fall 2021 Market Review & Outlook October 21, 2021 Video Julie Biel - Market Outlook on Bloomberg TV's "The Open" October 14, 2021 Video How September Jobs Report Can Spook the Fed October 7, 2021 Video It’s Kind of a Bit Like a Three Ring Circus. Kim Friedricks on Bloomberg TV's "The Muni Moment" September 21, 2021 Video Vaccines & Reopening with Julie Biel on Yahoo! Finance Live August 30, 2021 Video Retail Trading & High Market Volatility with Julie Biel on Yahoo! Finance Live July 7, 2021 Video Kim Friedricks & the Municipal Market's Impact on SALT June 30, 2021 Video Inflation Expectations & Investment Strategy with Julie Biel on "Daybreak Australia" June 15, 2021 .cls-1{fill:#ff7a47;}Trazado 643 of 3 .cls-1{fill:#ff7a47;}Asset 4 CRS Relationship Summary Form ADV 2A Privacy Policy Cookies Policy Proxy Policy Social Media Policy ERISA 408(b)(2) Disclosure Terms of Use © 2021 Kayne Anderson Rudnick 1800 Avenue of the Stars Los Angeles, CA 90067 Website by Loyal

Investment Management Wealth Management Contact Login Risk Management Risk = The degree of uncertainty regarding the durability of a business’ earning power KAR’s investment approach identifies the highest quality companies with competitive advantages and with little individual business risk. We believe, and our results have shown, that a high conviction portfolio of these companies which maintain strong market positions and little to no debt will experience less market risk than a traditional portfolio, provided that they are purchased at attractive prices. View the portfolios we’ve built through our careful application of risk management principles. White Paper: The Hows and Whys of Quality Investing Risk Management Guidelines Investment Philosophy Focus on “high-quality” companies Company’s ”business risk” is primary risk control factor Portfolio Level Controls Fully diversified portfolio by sector and country (if applicable) Individual security weights initiated at 1% to 5% of portfolio Position Reviews ”Position Review” report when a portfolio holding declines 20% absent a broad market decline Re-validate reasons for original purchase or sell position Trading Guidelines Guidelines provided by Portfolio Managers when entering and exiting portfolio holdings Relative benchmarks and transaction costs are monitored in real time to ensure investments are implemented both efficiently and effectively CRS Relationship Summary Form ADV 2A Privacy Policy Cookies Policy Proxy Policy Social Media Policy ERISA 408(b)(2) Disclosure Terms of Use © 2021 Kayne Anderson Rudnick 1800 Avenue of the Stars Los Angeles, CA 90067 Website by Loyal