Manager research and screening process results in a list of potential investment opportunities, i.e., "Managers of Interest" that are reviewed by the Investment Committee 

KStone creates a proprietary report for all managers being actively considered

• Thorough due diligence is completed for every investment
• Structural Risk Analysis is conducted on an ongoing basis throughout the life of an    investment

Traditional asset management tools are applied to alternative investing

• KStone completes analysis at the manager and portfolio level

Portfolio construction is driven by top-down macroeconomic views coupled with bottom-up manager identification

• Managers and portfolios are actively monitored
• A "Watch List" is maintained for possible reallocations