Fund Description: FlexShares Core Select Bond Fund is an actively managed exchange-traded fund or Actively Managed ETF which is a separate investment portfolio of the FlexShares Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The FlexShares Core Select Bond Fund seeks total return and preservation of capital. The Fund is an actively managed ETF and thus does not seek to replicate the performance of a specific index. Rather, the Adviser has discretion on a daily basis to actively manage the Fund’s portfolio in accordance with the Fund’s investment objective. FUND STRATEGY: The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in U.S. dollar-denominated investment-grade fixed-income securities either directly or indirectly through exchange-traded funds (ETFs) and other registered investment companies. The Fund primarily invests in fixed-rate securities of varying maturities, including bonds, debt securities and other similar instruments issued by U.S. public and U.S and non-U.S. private sector entities. Such issuers include, without limitation, U.S. governments and their agencies, instrumentalities or sponsored enterprises, and U.S. and non-U.S. private-sector entities, such as corporations and banks. The Fund may invest in fixed income securities of any maturity. The Fund adjusts its allocations to securities based on the Advisers assessment of potential changes in interest rate levels, the shape of the yield curve and credit spread relationships. The Fund also seeks to balance the potential for return and risk while emphasizing liquidity and diversification across a spectrum of U.S. dollar-denominated investment-grade fixed income securities. The Fund may invest, without limitation, in mortgage- or asset-backed securities, including to-be-announced (TBA) transactions, and purchase and sell securities on a when-issued, delayed delivery or forward commitment basis. The Fund also may, without limitation, seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts (such as buy backs or mortgage dollar rolls). When necessary to manage the Fund’s exposure to interest-rate risks, the Fund may take short or long positions in U.S. Treasury futures or transact in interest rate swaps. The Fund may invest in short-term paper, cash and cash equivalents, including shares of affiliated and unaffiliated money market funds. FUND MANAGEMENT: Northern Trust Investments, Inc. (NTI) serves as the Investment Adviser of the Fund.