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QV

Jensen Quality Value Strategy

Performance

The table below shows the Quality Value Composite’s total return since its inception compared with that for the Russell 2500 Index.

average annual total returns as of November 30, 2018

YTD 1 Year 3 Years 5 Years Since Inception 01/01/17
Gross 1.86% 3.64% NA NA 9.33%
Net 1.23% 2.93% NA NA 8.55%
Russell 2500 1.07% 1.41% NA NA 9.05%

average annual total returns as of September 30, 2018

Quarter 1 Year 3 Year 5 Years Since Inception 01/01/17
Gross 4.52% 13.25% NA NA 12.19%
Net 4.33% 12.47% NA NA 11.38%
Russell 2500 4.70% 16.19% NA NA 15.65%

average annual total returns as of December 31, 2017

2017
Gross 16.48%
Net 15.61%
Russell 2500 16.81%

Returns are shown in U.S. dollars gross and net of fees.

The Composite’s past performance is not necessarily an indication of how the Composite will perform in the future.

For purposes of compliance with the Global Investment Performance Standards (GIPS®), the “Firm” is defined as Jensen Investment Management, Inc® (“Jensen”), an Oregon corporation and investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. The firm provides investment advisory services to two pooled investment vehicles, institutional and private clients.

The Jensen Quality Value Composite (the “Composite”) includes all discretionary, fee paying portfolios with an investment objective of long-term capital appreciation. Jensen’s approach to investing focuses on those companies with a record of achieving high returns over the long term and which the firm believes are undervalued relative to their business performance. The Composite was created in January 2017, and the minimum account size for the Composite is $1,000,000. The inception date of the Composite performance was January 1, 2017.

Performance data shown represents past performance; past performance does not guarantee future results and other calculation methods may produce different results. There is the possibility of loss of principal value.

The Russell 2500 Index is a market cap weighted index that includes the smallest 2,500 companies covered in the Russell 3000 universe of United States-based listed equities.  This index is unmanaged, and you cannot invest directly in an index.

Periods greater than 1 year represent average annual returns.

All returns reflect the reinvestment of all income.

Jensen Investment Management, Inc. claims compliance with the Global Investment Performance Standards (GIPS®). To receive a complete list and description of Jensen’s composites and/or a presentation that adheres to GIPS® Standards, call 800.221.4384.