General Disclosure

Past Performance
Is No Guarantee Of Future Performance.

Any opinions expressed are current only as of the time made and are subject to change without notice. This report may include estimates, projections or other forward-looking statements, however, due to numerous factors, actual events may differ substantially from those presented. The graphs and tables making up this report have been based on unaudited, third-party data and performance information provided to us by one or more commercial databases.

Investors should be aware of additional risks associated with international investing due to factors such as greater economic and political instability, increased volatility, currency fluctuation, and differences in auditing and other financial standards and that these risks can be accentuated in emerging markets. Bonds and fixed income investing involves interest rate risk. When interest rates rise, bond prices generally fall.

Indices are not available for direct investment. Index performance does not reflect the expenses associated with the management of an actual portfolio, including trading or custody fees. Index results assume the re-investment of all dividends and interest. The volatility of these indices may be materially different from that of the fund. Additionally, please be aware that past performance is not a guide to the future performance of any manager or strategy, and that the performance results and historical information provided herein may have been adversely or favorably impacted by events and economic conditions that will not prevail in the future. Therefore, caution must be used in inferring that these results are indicative of the future performance of any strategy, index, fund, manager or group of managers. Index benchmarks contained in this report are provided so that performance can be compared with the performance of well-known and widely recognized indices.