ESG Policy As a firm, we generally pursue socially responsible investments, which includes environmental, social and governance considerations (“ESG”), during the course of our due diligence practices and investment processes and in the monitoring of portfolio investments. Understanding and managing sustainability factors is fundamental to a portfolio company’s well-being and mitigates reputational risk, which may have a direct impact on a portfolio company’s business and market position. Further, companies’ management of various ESG issues can have a significant impact on earnings and long-term valuations and consideration of these issues is an integral part of our investment process. Assessment of these issues, engagement with investee companies as appropriate, and our voting decisions are central to our approach. For more information on our approach, please see our ESG Policy. Form CRS

M.D. Sass’s Fixed Income team focuses on identifying value-added opportunities across the spectrum of U.S. Mortgage Backed securities from Government Agency guaranteed to Agency related Non-guaranteed. Our investment approach seeks out well-structured Mortgage Backed securities through advanced structural analysis, proprietary quantitative work, and deep fundamental research across the landscape of Agency and Agency related securities. This approach underpins a range of risk-controlled strategies offering yield, return potential, and downside protection, while emphasizing quality and liquidity - from our Short-Term Agency strategy, which has produced positive returns in each of the 28 years since its inception, to Intermediate and Core Fixed Income mandates. In 2019, we also launched Agency Plus, which strategically invests in higher-yielding Agency and Agency related Non-guaranteed securities to increase portfolio yields and return potential. We believe that a specialist approach to security selection in these sectors of the fixed market can result in relative outperformance over time, while diversifying the risks of corporate credit. The attached memo entitled “The Value of Quality: Sometimes Forgotten, Appreciated When It Matters Most” reviews the Agency Mortgage Backed Securities market and discusses our differentiated approach and “edges” in identifying value. Please find the latest quarterly fact sheets for the Short Term Agency and Agency Plus strategies, along with our Fixed Income Market Review & Outlook below. STA Fact Sheet 9-30-21 Agency Plus Fact Sheet 9-30-21 FI Qtrly Memo 9-30-21 For more information on our Fixed Income strategies, please call 212.730.2000 or complete the short template in the Contact Us page. Past performance is not indicative of future results. Form CRS