A. General Description of Advisory Firm SECOR Investment Management, LP (“SIM”) was established in August, 2011 and has an office in New York, New York. SIM is a wholly owned subsidiary of SECOR Asset Management, LP. Duen Li (Tony) Kao holds a majority stake in SECOR Asset Management, LP and is deemed to be the principal owner. Refer to Item 10 for a further description of SECOR Asset Management, LP and SIM's industry affiliations. B. Description of Advisory Services SIM manages assets on a discretionary basis, generally, but also advises certain clients on a non-discretionary basis. SIM provides its investment management services to institutional clients and certain other clients that are described in Item 7. SIM works closely with its clients to develop specified investment guidelines for each assignment. The investment guidelines for an assignment set forth the parameters of SIM's investment authority with respect to such assignment. SIM may provide the following services:
• Tail Risk Hedging Solutions - SIM may seek to manage the risk associated with periods of significant negative returns in risky assets. Typically, this may be achieved through a wide variety of financial derivative strategies through an overlay program;
• Liability Management Solutions - SIM may seek to manage the risk posed by liabilities associated with large defined benefit plans. Typically, this may be achieved with an overlay portfolio of futures, swaps or swaptions, allowing the clients to maintain exposure to return-seeking assets; and/or
• Beta Currency Management Solutions - SIM may provide beta currency management services to manage clients' asset exposure. Typically, this may be achieved with an overlay portfolio of options,

futures, forwards, or swaps allowing the clients to more effectively manage portfolio beta currency exposures.
SIM provides discretionary investment management services to one UCITS fund regulated under the laws of the Central Bank of Ireland. SIM also provides discretionary sub-advisory services to a pooled investment vehicle offered only to certain affiliated non-U.S. pension plans that are existing clients of SECOR. The sub- advised pooled investment vehicle is a “fund of funds” that invests in underlying hedge funds. The foregoing is not a comprehensive list of services that may be provided by SIM; nor are the descriptions necessarily the only ways in which the services may be provided. For each service provided by SIM, the clients' assets will be managed in a manner consistent with clients’ specified investment guidelines. C. Availability of Customized Solutions for Individual Clients Generally, SIM assists clients in developing investment guidelines tailored to each client's specific needs. The guidelines generally specify limits on the type and amount of securities held. The client may specify limits at various exposure levels including, but not limited to, counterparty concentration, equity exposure, and duration/interest rates. SIM will accept other restrictions if it believes that it can implement a client's investment program in compliance with the client’s objectives. D. Wrap Fee Programs While SIM has the ability to do so, as of the date of this Brochure, SIM is not participating in any wrap fee programs. E. Assets Under Management As of December 31, 2023, SIM has $2,052,583,970 in discretionary regulatory assets under management and $10,308,406 in non-discretionary assets under management