Important Disclosures The content of these podcasts is for informational purposes only and does not constitute investment, financial, legal, accounting, tax advice or a recommendation to buy, sell or hold a security. It shall under no circumstances be considered an offer or solicitation to deal in any investment product or security mentioned herein. References to particular companies or securities, if any, are included for informational or illustrative purposes only and are not an endorsement, recommendation or sponsorship of any security or entity cited. Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any investment funds or current holdings of any investment funds. Portfolio holdings discussed are as at a particular point in time and may not be representative of the Fund’s current or future investments or imply that investment in the securities identified were or will be profitable. There is no assurance that these securities will be purchased in the future or are currently held in the Fund’s portfolio.

The opinions expressed are as of the date of publication and are subject to change without notice. Assumptions, opinions, and estimates are provided for illustrative purposes only and are subject to significant limitations. Reliance upon this information is at the sole discretion of the reader. This commentary may include information concerning financial markets that was developed at a particular point in time. This information is subject to change at any time, without notice, and without an update. This commentary may also include forward-looking statements concerning anticipated results, circumstances, and expectations regarding future events. Forward-looking statements require assumptions to be made and are, therefore, subject to inherent risks and uncertainties. There is a significant risk that predictions and other forward-looking statements will not prove to be accurate. Investing involves risk. Equity markets are volatile and will increase and decrease in response to economic, political, regulatory, and other developments. Investments in foreign securities involve certain risks that differ from the risks of investing in domestic securities. Adverse political, economic, social, or other conditions in a foreign country may make the stocks of that country difficult or impossible to sell. It is more difficult to obtain reliable information about some foreign securities. The costs of investing in some foreign markets may be higher than investing in domestic markets. Investments in foreign securities also are subject to currency fluctuations. The risks and potential rewards are usually greater for small companies and companies located in emerging markets. Bond markets and fixed-income securities are sensitive to interest rate movements. Inflation, credit, and default risks are all associated with fixed income securities. Diversification may not protect against market risk and loss of principal may result. Certain information contained in this document has been obtained from external parties which we believe to be reliable, however, we cannot guarantee its accuracy.