GEME

The Pacific NoS Global EM Equity Active ETF (the "Fund") seeks long-term capital appreciation. The Fund is an actively managed exchange-traded fund ("ETF") that invests in a concentrated portfolio of equity and equity-related securities of large and mid-capitalization companies with market capitalization over USD 5 Billion at time of purchase and issued by Emerging Market Companies . Equity and equity-related securities include common stock, preferred stock, and American Depositary Receipts ("ADRs"). The Sub-Adviser takes a value investing approach based on three guiding principles: (1) value investing tends to outperform other styles over long periods of time; (2) value needs to be seen in the context of domestic risk free rate (3) value needs to be assessed relative to the risk profile of the equity. The analysis the Sub-Adviser conducts includes a combination of top-down analysis and bottom-up company research, using robust tools such as proprietary valuation models. The Sub-Adviser then selects 20 to 50 investments to include in the Fund's portfolio. In selecting investments for the Fund, the Sub-Adviser will generally focus on large and mid-capitalization companies.