Confluence Investment Management LLC (Confluence) claims compliance with the requirements of the Global Investment Performance Standards (GIPS®). Confluence is a registered investment adviser. A GIPS Report and/or the firm’s list of composite descriptions can be obtained by contacting Confluence.

GIPS® is a registered trademark of the CFA Institute. The CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.

Confluence has chosen to undergo a GIPS verification by a third party on an annual basis.

• Independent Verification Letter

For more information on the verification process, please see the ACA Group website.