This email is confidential. You should not copy it or disclose its contents to any other person. Opinions, estimates and projections presented herein constitute the current judgment of the sender of this email as of the date hereof and are subject to change without notice. It should be noted that electronic communications are not secure and subject to possible data corruption, either accidentally or on purpose, and may contain viruses. Please note that the contents of this email should not be construed as investment advice unless explicitly stated as such in the text of the email. Prospective investors and clients are urged to consult with their own tax or legal advisors before entering into any advisory contract. Finally, please note that (to the extent that performance information is contained in this email) – past performance is not necessarily indicative of future returns.

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