The Income Dilemma

Traditional income solutions have left many investors underserved. Bonds have struggled to keep pace with inflation, while equities often introduce more volatility than many income-oriented investors can tolerate. Snowwater's Managed Income Notes Strategy seeks to bridge this gap by targeting attractive income while incorporating downside protection and diversification across issuers.

The Snowwater Advantage

$650M+ Executed Volume

Institutional relationships with 14 investment-grade issuers.

Competitive Bidding

Multiple bank counterparties compete for each note.

Custom Strcuturing

Notes are designed to Snowwater specifications rather than selected from retail shelves.

Active Lifecycle Mangement

Daily monitoring, credit surveillance, and reinvestment oversight.

How We Build the Portfolio

Note Design

S&P 500 and Russell 2000 exposure, 12-18 month maturities, and 35%+ protection thresholds.

Issuer Selection

Diversification across 10-14 investment-grade institutions.

Timing & Entry

Purchases accelerated during elevated volatility environments.

Lifecycle Management

Daily monitoring, liquidity oversight, and reinvestment.

Illustrative Strategy Terms

7.5%-9.75%

Target Coupon Range

35%+

Contingent Downside Protection

12-18

Month Maturities

14

Investment Grade Issuers

Maximum Drawdown for Each Strategy - Gross of fees

Snowwater Investment Partners, LLC | Proprietary & Confidential | Not for Broad Distribution | Q22026 | Performance as of 6/30/2026 unless noted | All data gross-of-fees unless noted. Performance quoted represents past performance. Past performance is no guarantee of future results. Performance figure shown is average annualized since inception *Inception date of the presented strategy is May 1, 2021. Performance shown is constructed from extracted data and is considered hypothetical, with inherent limitations and no guarantee of future results.

Annual % Returns — Snowwater vs. Benchmarks – Ending 6.30.2026

Snowwater Investment Partners, LLC | Proprietary & Confidential | Not for Broad Distribution | Q22026 | Performance as of 6/30/2026 unless noted | All data gross-of-fees unless noted. Performance quoted represents past performance. Past performance is no guarantee of future results. Performance figure shown is average annualized since inception *Inception date of the presented strategy is May 1, 2021. Performance shown is constructed from extracted data and is considered hypothetical, with inherent limitations and no guarantee of future results.

Managed Income Note Strategy

Snowwater has over 25 years of experience successfully managing Structured Notes.

Our Managed Income Note Strategy thoughtfully designs and purchases customized Structured Notes that pay high single-digit coupons with a minimum of 35% downside protection to manage the risk of principal loss. Our goal is to have a less than 1% chance of breaking while maintaining attractive returns.

Download Our Strategy Fact Sheet and Presentation Below:

Proprietary and Confidential - Snowwater Fact Sheet Q4 2025

Please contact us for the full fact sheet and presentation, including our verified strategy performance: This email address is being protected from spambots. You need JavaScript enabled to view it.

Manganged Income Notes Strategy

Bridging the Gap Between Cash and Traditional Risk Assets