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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 58.57 717.30 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.36 717.30 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.32 717.30 Td (made ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.19 717.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.50 717.30 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.80 717.30 Td (Report ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.51 717.30 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.15 717.30 Td (Form ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.04 717.30 Td (10-K, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.37 717.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.67 717.30 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.21 717.30 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.01 717.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.31 717.30 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.11 717.30 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.32 717.30 Td (otherwise ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.28 717.30 Td (make ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.15 717.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.45 717.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.59 717.30 Td (public ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.97 717.30 Td (filings, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.56 717.30 Td (press ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.27 717.30 Td (releases ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 704.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.24 704.70 Td (statements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.14 704.70 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.22 704.70 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.79 704.70 Td (management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.64 704.70 Td ("forward-looking ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.32 704.70 Td (statements" ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.51 704.70 Td (within ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.92 704.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.33 704.70 Td (meaning ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.06 704.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.38 704.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.79 704.70 Td (Private ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.11 704.70 Td (Securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.10 704.70 Td (Litigation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 692.10 Td (Reform ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.48 692.10 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.37 692.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.85 692.10 Td (1995, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.20 692.10 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.60 692.10 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.90 692.10 Td (relating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.70 692.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.60 692.10 Td (anticipated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.39 692.10 Td (growth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.87 692.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.77 692.10 Td (revenues, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.44 692.10 Td (mar) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.57 692.10 Td (gins ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.81 692.10 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.28 692.10 Td (earnings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.58 692.10 Td (per ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.72 692.10 Td (share, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 679.50 Td (anticipated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.07 679.50 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.39 679.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.06 679.50 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.56 679.50 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.65 679.50 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.90 679.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.57 679.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.90 679.50 Td (amount ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.90 679.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.15 679.50 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.65 679.50 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.47 679.50 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.47 679.50 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.88 679.50 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.03 679.50 Td (\(�AUM�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.35 679.50 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.60 679.50 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.60 679.50 Td (under ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 666.90 Td (advisement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.04 666.90 Td (\(�AUA�\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.44 666.90 Td (anticipated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.21 666.90 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.00 666.90 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.76 666.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.23 666.90 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.94 666.90 Td (business, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.86 666.90 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.24 666.90 Td (expected ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.27 666.90 Td (earnings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.55 666.90 Td (per ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.67 666.90 Td (share ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.54 666.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.42 666.90 Td (future ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 654.30 Td (periods, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.64 654.30 Td (anticipated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.31 654.30 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.99 654.30 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.67 654.30 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.33 654.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.68 654.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.28 654.30 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.25 654.30 Td (filiates, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.06 654.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.66 654.30 Td (expected ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.57 654.30 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.25 654.30 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.69 654.30 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.61 654.30 Td (cash ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.88 654.30 Td (flows, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.44 654.30 Td (anticipated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 641.70 Td (expense ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.17 641.70 Td (levels, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.14 641.70 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.82 641.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.84 641.70 Td (expenses, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.22 641.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.90 641.70 Td (expected ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.07 641.70 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.04 641.70 Td (fects ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.71 641.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.31 641.70 Td (acquisitions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.33 641.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.34 641.70 Td (expectations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.68 641.70 Td (regarding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.77 641.70 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.35 641.70 Td (market ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 629.10 Td (conditions. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.45 629.10 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.62 629.10 Td (words ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.14 629.10 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.74 629.10 Td (phrases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.08 629.10 Td ("can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.79 629.10 Td (be," ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.46 629.10 Td ("may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.68 629.10 Td (be," ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.35 629.10 Td ("expects," ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.89 629.10 Td ("may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.10 629.10 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.07 629.10 Td (fect," ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.57 629.10 Td ("may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.79 629.10 Td (depend," ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.87 629.10 Td ("believes," ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.32 629.10 Td ("estimate," ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 616.50 Td ("project," ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.84 616.50 Td ("anticipate" ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.21 616.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.35 616.50 Td (similar ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.50 616.50 Td (words ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.16 616.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.30 616.50 Td (phrases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.78 616.50 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.58 616.50 Td (intended ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.73 616.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.88 616.50 Td (identify ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.53 616.50 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.76 616.50 Td (forward-looking ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.56 616.50 Td (statements. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.50 616.50 Td (Such ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.90 Td (forward-looking ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.65 603.90 Td (statements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.31 603.90 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.47 603.90 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.55 603.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.05 603.90 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.30 603.90 Td (known ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.22 603.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.71 603.90 Td (unknown ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.13 603.90 Td (risks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.31 603.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.80 603.90 Td (uncertainties ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.79 603.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.28 603.90 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.86 603.90 Td (caution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.11 603.90 Td (readers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.75 603.90 Td (that ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 591.30 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.29 591.30 Td (forward- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.64 591.30 Td (looking ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.35 591.30 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.55 591.30 Td (provided ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.50 591.30 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.62 591.30 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.00 591.30 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.12 591.30 Td (behalf ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.98 591.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.35 591.30 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.55 591.30 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.76 591.30 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.39 591.30 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.43 591.30 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.72 591.30 Td (guarantee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.15 591.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.52 591.30 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.22 591.30 Td (performance.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 566.10 Td (Actual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.13 566.10 Td (results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.18 566.10 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.90 566.10 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.37 566.10 Td (fer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.67 566.10 Td (materially ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.87 566.10 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.92 566.10 Td (those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.73 566.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.53 566.10 Td (forward-looking ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.99 566.10 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.20 566.10 Td (due ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.00 566.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.81 566.10 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.36 566.10 Td (factors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.19 566.10 Td (some ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.99 566.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.38 566.10 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.68 566.10 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 553.50 Td (beyond ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.19 553.50 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.96 553.50 Td (control, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.10 553.50 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.54 553.50 Td (but ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.73 553.50 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.92 553.50 Td (limited ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.45 553.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.39 553.50 Td (those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.33 553.50 Td (discussed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.35 553.50 Td (below ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.79 553.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.73 553.50 Td (those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.67 553.50 Td (discussed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.69 553.50 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.37 553.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.98 553.50 Td (heading ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.99 553.50 Td ("Risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.31 553.50 Td (Factors" ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.90 540.90 Td (elsewhere ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.12 540.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.53 540.90 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.95 540.90 Td (Report ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.77 540.90 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.51 540.90 Td (Form ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.51 540.90 Td (10-K ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.33 540.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.74 540.90 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.98 540.90 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.79 540.90 Td (public ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.28 540.90 Td (filings, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.99 540.90 Td (press ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.81 540.90 Td (releases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.28 540.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.69 540.90 Td (statements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.25 540.90 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.00 540.90 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.24 540.90 Td (management. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 528.30 Td (Due ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 69.40 528.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.98 528.30 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.64 528.30 Td (risks, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.51 528.30 Td (uncertainties ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.57 528.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.14 528.30 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.13 528.30 Td (factors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.73 528.30 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.39 528.30 Td (caution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.71 528.30 Td (each ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.35 528.30 Td (person ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.75 528.30 Td (receiving ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.23 528.30 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.89 528.30 Td (forward-looking ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.11 528.30 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.10 528.30 Td (not ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 515.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.45 515.70 Td (place ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.38 515.70 Td (undue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.82 515.70 Td (reliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.83 515.70 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.11 515.70 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.14 515.70 Td (statements. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.87 515.70 Td (Further) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.36 515.70 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.76 515.70 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.79 515.70 Td (forward-looking ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.39 515.70 Td (statements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.49 515.70 Td (speak ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.18 515.70 Td (only ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.63 515.70 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.16 515.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.69 515.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.30 515.70 Td (date ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.57 515.70 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.85 515.70 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 503.10 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.65 503.10 Td (statements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.88 503.10 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.60 503.10 Td (made, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.87 503.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.94 503.10 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.08 503.10 Td (undertake ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.38 503.10 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.79 503.10 Td (obligations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.36 503.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.43 503.10 Td (update ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.32 503.10 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.39 503.10 Td (forward-looking ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.11 503.10 Td (statement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.25 503.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.32 503.10 Td (reflect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.04 503.10 Td (events ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.77 503.10 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 490.50 Td (circumstances ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.60 490.50 Td (after ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.46 490.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.91 490.50 Td (date ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.02 490.50 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.15 490.50 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.44 490.50 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.31 490.50 Td (statement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.17 490.50 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.80 490.50 Td (made ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.16 490.50 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.53 490.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.33 490.50 Td (reflect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.76 490.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.22 490.50 Td (occurrence ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.89 490.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.26 490.50 Td (unanticipated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.45 490.50 Td (events.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 465.30 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.21 465.30 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.65 465.30 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.35 465.30 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.80 465.30 Td (fluctuate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.91 465.30 Td (due ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.44 465.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.99 465.30 Td (numerous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.78 465.30 Td (factors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.35 465.30 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.97 465.30 Td (as: ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.01 465.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.21 465.30 Td (total ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.25 465.30 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.37 465.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.91 465.30 Td (composition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.20 465.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.32 465.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.17 465.30 Td (AUM; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.97 465.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.17 465.30 Td (mix ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 452.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.07 452.70 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.26 452.70 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.58 452.70 Td (among ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.98 452.70 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.80 452.70 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.77 452.70 Td (filiates, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.78 452.70 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.02 452.70 Td (classes, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.62 452.70 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.52 452.70 Td (vehicles, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.36 452.70 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.51 452.70 Td (type ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.41 452.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.39 452.70 Td (geography; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.44 452.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.09 452.70 Td (revenue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.14 452.70 Td (yield ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.95 452.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.52 452.70 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 440.10 Td (AUM; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.50 440.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.92 440.10 Td (volatility ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.42 440.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.16 440.10 Td (general ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.64 440.10 Td (level ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.63 440.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.96 440.10 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.20 440.10 Td (prices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.86 440.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.60 440.10 Td (interest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.10 440.10 Td (rates; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.42 440.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.83 440.10 Td (relative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.90 440.10 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.56 440.10 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.19 440.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.52 440.10 Td (company-) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 427.50 Td (sponsored ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.77 427.50 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.54 427.50 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.56 427.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.41 427.50 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.68 427.50 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.78 427.50 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.12 427.50 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.97 427.50 Td (both ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.33 427.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.18 427.50 Td (absolute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.87 427.50 Td (terms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.89 427.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.74 427.50 Td (relative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.91 427.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.77 427.50 Td (competing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.78 427.50 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.34 427.50 Td (ferings ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.23 414.90 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.95 414.90 Td (indices; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.18 414.90 Td (investor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.58 414.90 Td (sentiment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.98 414.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.71 414.90 Td (confidence; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.25 414.90 Td (general ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.72 414.90 Td (political ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.70 414.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.43 414.90 Td (economic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.81 414.90 Td (conditions; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.05 414.90 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.62 414.90 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.02 414.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.76 414.90 Td (maintain ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 402.30 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.89 402.30 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.84 402.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.31 402.30 Td (administrative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.69 402.30 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.90 402.30 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.78 402.30 Td (current ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.82 402.30 Td (levels; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.54 402.30 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.42 402.30 Td (conditions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.48 402.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.95 402.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.26 402.30 Td (business; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.07 402.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.21 402.30 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.35 402.30 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 389.70 Td (attract ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.64 389.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.70 389.70 Td (retain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.51 389.70 Td (key ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.58 389.70 Td (personnel; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.22 389.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.96 389.70 Td (impact, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.06 389.70 Td (extent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.62 389.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.69 389.70 Td (timing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.02 389.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.67 389.70 Td (technological ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.14 389.70 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.86 389.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.93 389.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.66 389.70 Td (adequacy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.21 389.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.86 389.70 Td (intellectual ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 377.10 Td (property) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.39 377.10 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.84 377.10 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.23 377.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.22 377.10 Td (cyber ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.36 377.10 Td (security ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.42 377.10 Td (protection; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.73 377.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.71 377.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.36 377.10 Td (introduction, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.14 377.10 Td (withdrawal, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.82 377.10 Td (success ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.13 377.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.12 377.10 Td (timing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.36 377.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.93 377.10 Td (business ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 364.50 Td (initiatives, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.16 364.50 Td (strategies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.44 364.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.23 364.50 Td (acquisitions.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 339.30 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.22 339.30 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.68 339.30 Td (operating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.72 339.30 Td (results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.52 339.30 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.73 339.30 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.03 339.30 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.16 339.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.71 339.30 Td (fluctuation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.59 339.30 Td (for) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.41 339.30 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.42 339.30 Td (among ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.39 339.30 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.35 339.30 Td (things, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.04 339.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.25 339.30 Td (following: ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.39 339.30 Td (variations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.18 339.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.74 339.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.95 339.30 Td (level ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.75 339.30 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 326.70 Td (compensation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.81 326.70 Td (expense ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.62 326.70 Td (incurred ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.59 326.70 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.33 326.70 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.98 326.70 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.30 326.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.04 326.70 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.84 326.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.00 326.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.82 326.70 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.89 326.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.62 326.70 Td (total ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.28 326.70 Td (employees, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.79 326.70 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.35 326.70 Td (factors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.54 326.70 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.35 326.70 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 314.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 63.97 314.10 Td (percentages ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.17 314.10 Td (of ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.24 314.10 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.64 314.10 Td (compensation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.60 314.10 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.99 314.10 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.21 314.10 Td (reasons; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.26 314.10 Td (increases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.39 314.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.20 314.10 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.27 314.10 Td (expenses; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.73 314.10 Td (variations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.78 314.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.60 314.10 Td (expenses ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 301.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 69.58 301.50 Td (capital ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.48 301.50 Td (costs, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.02 301.50 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.60 301.50 Td (depreciation, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.03 301.50 Td (amortization ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.02 301.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.09 301.50 Td (other ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.28 301.50 Td (ges ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.20 301.50 Td (incurred ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.10 301.50 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.51 301.50 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.76 301.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.85 301.50 Td (maintain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.51 301.50 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.90 Td (administrative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.22 288.90 Td (infrastructure; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.34 288.90 Td (unanticipated ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.58 288.90 Td (may ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.63 288.90 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.85 288.90 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.08 288.90 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.14 288.90 Td (time ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.26 288.90 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.57 288.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.38 288.90 Td (protect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.18 288.90 Td (client ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 276.30 Td (goodwill, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.80 276.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.32 276.30 Td (otherwise ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.48 276.30 Td (support ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.33 276.30 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.75 276.30 Td (products, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.88 276.30 Td (upon ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.22 276.30 Td (impairment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.97 276.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.06 276.30 Td (intangible ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.40 276.30 Td (assets ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.84 276.30 Td (connection ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.26 276.30 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.27 276.30 Td (online ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 263.70 Td (litigation ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.84 263.70 Td (regulatory ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.82 263.70 Td (the ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.03 263.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.20 263.70 Td (expected ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 251.10 Td (amount ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.62 251.10 Td (of ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.94 251.10 Td (payments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.81 251.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.60 251.10 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.14 251.10 Td (made.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.90 Td (Our ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.30 225.90 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.25 225.90 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.11 225.90 Td (subject ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.43 225.90 Td (regulation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.95 225.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.05 225.90 Td (changes ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.92 225.90 Td (legal, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.90 225.90 Td (regulatory) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.36 225.90 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.93 225.90 Td (accounting, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.57 225.90 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.34 225.90 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 213.30 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.52 213.30 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.96 213.30 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.33 213.30 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.03 213.30 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.48 213.30 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.76 213.30 Td (substantial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.30 213.30 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.27 213.30 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.63 213.30 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.76 213.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.38 213.30 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.59 213.30 Td (and ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.42 213.30 Td (of ) Tj ET Q
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BT /F2 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.74 618.95 Td (brand ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.42 618.95 Td (name, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.56 618.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.58 618.95 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.43 618.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.29 618.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.71 618.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.64 618.95 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.98 618.95 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.92 618.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.86 618.95 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.45 618.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.39 618.95 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.34 618.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 606.35 Td (individual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.80 606.35 Td (clients, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.55 606.35 Td (company-sponsored ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.83 606.35 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.71 606.35 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.76 606.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.63 606.35 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.92 606.35 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.72 606.35 Td (vehicles. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.27 606.35 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.33 606.35 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.71 606.35 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.27 606.35 Td (fer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.64 606.35 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.93 606.35 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.81 606.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.68 606.35 Td (services ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 593.75 Td (directly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.20 593.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.98 593.75 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.27 593.75 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.81 593.75 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.16 593.75 Td (intermediaries. ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 568.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.66 568.55 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.40 568.55 Td (Mason, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.77 568.55 Td (Inc. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.96 568.55 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.45 568.55 Td (incorporated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.67 568.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.00 568.55 Td (Maryland ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.98 568.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.31 568.55 Td (1981 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.47 568.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.80 568.55 Td (serve ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.12 568.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.03 568.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.85 568.55 Td (holding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.09 568.55 Td (company ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.74 568.55 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.15 568.55 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.23 568.55 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.30 568.55 Td (subsidiaries. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 555.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.08 555.95 Td (predecessor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.90 555.95 Td (companies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.05 555.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.48 555.95 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.31 555.95 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.15 555.95 Td (trace ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.80 555.95 Td (back ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.88 555.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.30 555.95 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.13 555.95 Td (& ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.55 555.95 Td (Co., ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.31 555.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.23 555.95 Td (Maryland-based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.71 555.95 Td (broker) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.91 555.95 Td (-dealer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.30 555.95 Td (formed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.88 555.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.30 555.95 Td (1899. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 546.19 555.95 Td (Our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 543.35 Td (subsequent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.96 543.35 Td (growth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.50 543.35 Td (occurred ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.02 543.35 Td (primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.89 543.35 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.34 543.35 Td (internal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.21 543.35 Td (expansion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.58 543.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.53 543.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.16 543.35 Td (acquisition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.03 543.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.57 543.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.77 543.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.21 543.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.17 543.35 Td (broker) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.36 543.35 Td (-dealer ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 530.75 Td (firms. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.76 530.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.97 530.75 Td (December ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.57 530.75 Td (2005, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.66 530.75 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.70 530.75 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.75 530.75 Td (completed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.95 530.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.08 530.75 Td (transaction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.61 530.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.25 530.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.37 530.75 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.67 530.75 Td (sold ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.64 530.75 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.03 530.75 Td (primary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.74 530.75 Td (broker) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.93 530.75 Td (-dealer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.54 530.75 Td (businesses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 554.34 530.75 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 518.15 Td (concentrate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.29 518.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.20 518.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.44 518.15 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.26 518.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.31 518.15 Td (industry) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.05 518.15 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 248.67 518.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 252.08 518.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 277.06 518.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 309.05 518.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 319.47 518.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 332.79 518.15 Td (independent, ) Tj ET Q
q 0 0 0 rg BT 390.14 518.15 Td (publicly ) Tj ET Q
q 0 0 0 rg BT 427.96 518.15 Td (traded ) Tj ET Q
q 0 0 0 rg BT 457.60 518.15 Td (company) Tj ET Q
q 0 0 0 rg BT 495.41 518.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 501.44 518.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 523.52 518.15 Td (no ) Tj ET Q
q 0 0 0 rg BT 537.43 518.15 Td (single ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 505.55 Td (majority ) Tj ET Q
q 0 0 0 rg BT 87.70 505.55 Td (shareholder ) Tj ET Q
q 0 0 0 rg BT 139.31 505.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 157.09 505.55 Td (90% ) Tj ET Q
q 0 0 0 rg BT 178.96 505.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 190.33 505.55 Td (its ) Tj ET Q
q 0 0 0 rg BT 202.88 505.55 Td (Board ) Tj ET Q
q 0 0 0 rg BT 231.17 505.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 242.54 505.55 Td (Directors ) Tj ET Q
q 0 0 0 rg BT 284.23 505.55 Td (consists ) Tj ET Q
q 0 0 0 rg BT 320.11 505.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 331.48 505.55 Td (independent ) Tj ET Q
q 0 0 0 rg BT 385.43 505.55 Td (directors.) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 480.35 Td (Additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.50 480.35 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.16 480.35 Td (about ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.58 480.35 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.24 480.35 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.91 480.35 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.00 480.35 Td (available ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.99 480.35 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.58 480.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.66 480.35 Td (website ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.82 480.35 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.49 480.35 Td (http://www) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.64 480.35 Td (.leggmason.com. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.95 480.35 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.02 480.35 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.77 480.35 Td (make ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 467.75 Td (available, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.67 467.75 Td (free ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.64 467.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.04 467.75 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.92 467.75 Td (ge, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.11 467.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.76 467.75 Td (annual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.40 467.75 Td (reports ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.21 467.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.36 467.75 Td (Form ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.77 467.75 Td (10-K, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.63 467.75 Td (quarterly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.18 467.75 Td (reports ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.99 467.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.15 467.75 Td (Form ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.55 467.75 Td (10-Q, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.41 467.75 Td (current ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.80 467.75 Td (reports ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.61 467.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.76 467.75 Td (Form ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.17 467.75 Td (8-K ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 455.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.58 455.15 Td (amendments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.58 455.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.67 455.15 Td (those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.75 455.15 Td (reports ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.83 455.15 Td (filed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.00 455.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.67 455.15 Td (furnished ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.25 455.15 Td (pursuant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.33 455.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.42 455.15 Td (Section ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.84 455.15 Td (13\(a\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.91 455.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.58 455.15 Td (15\(d\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.25 455.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.92 455.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.67 455.15 Td (Securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.00 455.15 Td (Exchange ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.67 455.15 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.76 455.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 442.55 Td (1934 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.11 442.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.88 442.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.49 442.55 Td (proxy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.59 442.55 Td (statements. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.15 442.55 Td (Investors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.26 442.55 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.44 442.55 Td (find ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.96 442.55 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.74 442.55 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.93 442.55 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.44 442.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.88 442.55 Td (�Investor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.56 442.55 Td (Relations� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.49 442.55 Td (section ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.85 442.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.20 442.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.81 442.55 Td (website. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 429.95 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.26 429.95 Td (reports ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.10 429.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.60 429.95 Td (available ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.18 429.95 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.53 429.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.21 429.95 Td (website ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.97 429.95 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.40 429.95 Td (soon ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.92 429.95 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.35 429.95 Td (reasonably ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.52 429.95 Td (practicable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.25 429.95 Td (after ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.17 429.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.10 429.95 Td (electronically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.92 429.95 Td (file ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.59 429.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.11 429.95 Td (material ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 417.35 Td (with, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.33 417.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.61 417.35 Td (furnish ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.89 417.35 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.26 417.35 Td (to, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.59 417.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.95 417.35 Td (Securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.90 417.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.59 417.35 Td (Exchange ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.52 417.35 Td (Commission ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.15 417.35 Td (\(�SEC�\). ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.89 417.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.17 417.35 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.74 417.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.10 417.35 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.21 417.35 Td (Mason, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.96 417.35 Td (Inc. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.52 417.35 Td (Corporate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 404.75 Td (Governance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.14 404.75 Td (Principles, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.69 404.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.60 404.75 Td (Code ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.69 404.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.36 404.75 Td (Conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.86 404.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.02 404.75 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.44 404.75 Td (employees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.26 404.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.34 404.75 Td (directors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.63 404.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.71 404.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.46 404.75 Td (charters ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.61 404.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.77 404.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.52 404.75 Td (committees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.85 404.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.51 404.75 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 392.15 Td (Board ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.79 392.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.16 392.15 Td (Directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.86 392.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.30 392.15 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.85 392.15 Td (available ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.37 392.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.50 392.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.12 392.15 Td (corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.39 392.15 Td (website ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.09 392.15 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.30 392.15 Td (http://www) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.45 392.15 Td (.leggmason.com ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.90 392.15 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.44 392.15 Td (�About ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.97 392.15 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.10 392.15 Td (Investor ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 379.55 Td (Relations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.90 379.55 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.13 379.55 Td (Governance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.58 379.55 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.81 379.55 Td (Corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.53 379.55 Td (Governance�. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.67 379.55 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.68 379.55 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.41 379.55 Td (copy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.55 379.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.03 379.55 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.93 379.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.41 379.55 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.72 379.55 Td (materials ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.94 379.55 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.75 379.55 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.40 379.55 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.04 379.55 Td (obtained, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.56 379.55 Td (free ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.61 379.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.09 379.55 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.96 379.55 Td (ge, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 366.95 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 62.32 366.95 Td (sending ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.30 366.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.28 366.95 Td (written ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.35 366.95 Td (request ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.99 366.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.48 366.95 Td (Corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.78 366.95 Td (Secretary) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.74 366.95 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.69 366.95 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.58 366.95 Td (Mason, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.11 366.95 Td (Inc., ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.09 366.95 Td (100 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.16 366.95 Td (International ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.12 366.95 Td (Drive, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.97 366.95 Td (Baltimore, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.91 366.95 Td (MD ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.15 366.95 Td (21202. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 545.83 366.95 Td (As ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 354.35 Td (required, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.03 354.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.11 354.35 Td (within ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.86 354.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.61 354.35 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.19 354.35 Td (frames ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.68 354.35 Td (required, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.21 354.35 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.63 354.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.38 354.35 Td (SEC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.55 354.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.22 354.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.97 354.35 Td (New ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.28 354.35 Td (Y) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.81 354.35 Td (ork ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.73 354.35 Td (Stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.57 354.35 Td (Exchange ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.88 354.35 Td (\(�NYSE�\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.16 354.35 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.33 354.35 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.58 354.35 Td (post ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.01 354.35 Td (on ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 341.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.12 341.75 Td (website ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.83 341.75 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.62 341.75 Td (amendments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.31 341.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.11 341.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.56 341.75 Td (Code ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.36 341.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.73 341.75 Td (Conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.94 341.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.73 341.75 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.51 341.75 Td (waiver ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.71 341.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.08 341.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.54 341.75 Td (Code ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.33 341.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.71 341.75 Td (Conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.91 341.75 Td (applicable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.69 341.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.48 341.75 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.27 341.75 Td (executive ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 329.15 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 58.06 329.15 Td (ficer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.87 329.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.62 329.15 Td (director) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.85 329.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.60 329.15 Td (chief ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.71 329.15 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.56 329.15 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.12 329.15 Td (ficer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.93 329.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.68 329.15 Td (principal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.13 329.15 Td (accounting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.32 329.15 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.88 329.15 Td (ficer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.23 329.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.11 329.15 Td (controller) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.34 329.15 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.87 329.15 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.32 329.15 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.02 329.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.64 329.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.76 329.15 Td (website ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.96 329.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.09 329.15 Td (not ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 316.55 Td (incorporated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.19 316.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.31 316.55 Td (reference ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.98 316.55 Td (into ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.94 316.55 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.73 316.55 Td (Report.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 291.35 Td (Unless ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.11 291.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.96 291.35 Td (context ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.89 291.35 Td (otherwise ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.73 291.35 Td (requires, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.20 291.35 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.71 291.35 Td (references ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.87 291.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.06 291.35 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.25 291.35 Td (Report ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.85 291.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.04 291.35 Td (�we,� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.25 291.35 Td (�us,� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.56 291.35 Td (�our� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.90 291.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.08 291.35 Td (�Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.34 291.35 Td (Mason� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.61 291.35 Td (include ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 278.75 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.43 278.75 Td (Mason, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.98 278.75 Td (Inc. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.37 278.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.88 278.75 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.15 278.75 Td (predecessors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.15 278.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.66 278.75 Td (subsidiaries, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.21 278.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.72 278.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.90 278.75 Td (term ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.50 278.75 Td (�asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.92 278.75 Td (managers� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.16 278.75 Td (refers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.41 278.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.93 278.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.11 278.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.87 278.75 Td (management ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 266.15 Td (businesses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.12 266.15 Td (operated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.56 266.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.35 266.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.63 266.15 Td (subsidiaries. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.13 266.15 Td (References ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.05 266.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.51 266.15 Td (�fiscal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.20 266.15 Td (year ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.55 266.15 Td (2018� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.50 266.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.54 266.15 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.40 266.15 Td (fiscal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.43 266.15 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.88 266.15 Td (refer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.98 266.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.43 266.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.55 266.15 Td (12-month ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.67 266.15 Td (period ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 253.55 Td (ended ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.20 253.55 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.23 253.55 Td (31st ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.35 253.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.73 253.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.18 253.55 Td (year ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.87 253.55 Td (specified.) Tj ET Q
BT /F2 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 228.35 Td (Business Developments During the Fiscal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.08 228.35 Td (Y) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.50 228.35 Td (ear) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.88 228.35 Td ( Ended Mar) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.95 228.35 Td (ch 31, 2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 202.65 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.50 202.65 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.59 202.65 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.91 202.65 Td (industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.00 202.65 Td (continues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.92 202.65 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.77 202.65 Td (experience ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.91 202.65 Td (disruption ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.17 202.65 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.01 202.65 Td (challenges, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.62 202.65 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.96 202.65 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.30 202.65 Td (shift ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.65 202.65 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.49 202.65 Td (lower) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.19 202.65 Td (-fee ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 190.05 Td (passively ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.23 190.05 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.78 190.05 Td (products, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.22 190.05 Td (increased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.52 190.05 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.99 190.05 Td (pressure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.63 190.05 Td (\(including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.44 190.05 Td (pressure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.08 190.05 Td (arising ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.31 190.05 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.37 190.05 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.85 190.05 Td (shift ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.17 190.05 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.99 190.05 Td (lower) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.69 190.05 Td (-fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.66 190.05 Td (passive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.22 190.05 Td (products\), ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 177.45 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.79 177.45 Td (changes, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.38 177.45 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.44 177.45 Td (increasing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.73 177.45 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.04 177.45 Td (changing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.67 177.45 Td (role ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.14 177.45 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.03 177.45 Td (technology ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.83 177.45 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.14 177.45 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.70 177.45 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.49 177.45 Td (services, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.08 177.45 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.05 177.45 Td (constant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.19 177.45 Td (introduction ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 164.85 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.42 164.85 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.08 164.85 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.41 164.85 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.74 164.85 Td (services ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.90 703.95 Td (began ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.77 703.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.74 703.95 Td (identify ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.20 703.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.16 703.95 Td (pursue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.95 703.95 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.24 703.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.20 703.95 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.67 703.95 Td (ferent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.95 703.95 Td (ways ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.33 703.95 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 691.35 Td (collaborate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.99 691.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.01 691.35 Td (order ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.01 691.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.02 691.35 Td (leverage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.43 691.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.27 691.35 Td (combined ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.53 691.35 Td (scale ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.36 691.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.37 691.35 Td (become ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.87 691.35 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.29 691.35 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.26 691.35 Td (fective ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.67 691.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.68 691.35 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.65 691.35 Td (ficient ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.31 691.35 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.74 691.35 Td (delivering ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.16 691.35 Td (results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.42 691.35 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.51 691.35 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 678.75 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.69 678.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.64 678.75 Td (shareholders. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.11 678.75 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.77 678.75 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.84 678.75 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.28 678.75 Td (expect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.47 678.75 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.83 678.75 Td (activities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.52 678.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.47 678.75 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.58 678.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.53 678.75 Td (savings, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.44 678.75 Td (much ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.56 678.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.09 678.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.53 678.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.56 678.75 Td (intend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.59 678.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.54 678.75 Td (reinvest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.56 678.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.52 678.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.30 678.75 Td (business.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 653.55 Td (See ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.53 653.55 Td (�Item ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.30 653.55 Td (8. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.04 653.55 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.99 653.55 Td (Statements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.93 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.96 653.55 Td (Supplementary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.40 653.55 Td (Data� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.75 653.55 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.87 653.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.56 653.55 Td (revenues, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.37 653.55 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.07 653.55 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.84 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.87 653.55 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.24 653.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.85 653.55 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.30 653.55 Td (Mason, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.85 640.95 Td (operates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.53 640.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.39 640.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.74 640.95 Td (single ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.52 640.95 Td (reportable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.77 640.95 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.05 640.95 Td (segment. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.36 640.95 Td (See ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.22 640.95 Td (Note ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.32 640.95 Td (5 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.26 640.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.70 640.95 Td (Notes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.89 640.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.75 640.95 Td (Consolidated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.86 640.95 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.63 640.95 Td (Statements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.40 640.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.26 640.95 Td (Item ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.35 Td (8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 58.51 628.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.02 628.35 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.96 628.35 Td (Report ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.30 628.35 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.31 628.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.06 628.35 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.14 628.35 Td (generated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.71 628.35 Td (in, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.27 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.19 628.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.95 628.35 Td (long-lived ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.88 628.35 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.14 628.35 Td (\(consisting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.98 628.35 Td (primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.82 628.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.33 628.35 Td (intangible ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.08 628.35 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.34 628.35 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.75 Td (goodwill\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.31 615.75 Td (located ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.61 615.75 Td (in, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.38 615.75 Td (each ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.59 615.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.32 615.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.13 615.75 Td (principal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.43 615.75 Td (geographic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.05 615.75 Td (regions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.95 615.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.09 615.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.73 615.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.96 615.75 Td (conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.18 615.75 Td (business. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.37 615.75 Td (See ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.51 615.75 Td (Note ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.90 615.75 Td (7 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.13 615.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.86 615.75 Td (Notes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 554.33 615.75 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.15 Td (Consolidated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.42 603.15 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.99 603.15 Td (Statements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.58 603.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.25 603.15 Td (Item ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.99 603.15 Td (8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.75 603.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.00 603.15 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.67 603.15 Td (Report ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.75 603.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.50 603.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.00 603.15 Td (deferred ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.47 603.15 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.81 603.15 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.81 603.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.48 603.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.81 603.15 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.99 603.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.65 603.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.32 603.15 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.32 603.15 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.40 603.15 Td (countries, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 590.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.29 590.55 Td (aggregate.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (Business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.65 565.35 Td (Overview) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 540.15 Td (Acting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.27 540.15 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.12 540.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.31 540.15 Td (subsidiaries, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.71 540.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.14 540.15 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.40 540.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.67 540.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.51 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.86 540.15 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.61 540.15 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.62 540.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.98 540.15 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.34 540.15 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (individual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.27 527.55 Td (clients, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.50 527.55 Td (company-sponsored ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.26 527.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.53 527.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.06 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.41 527.55 Td (retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.17 527.55 Td (separately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.93 527.55 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.02 527.55 Td (account ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.86 527.55 Td (programs. ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 503.34 527.55 Td (Our ) Tj ET Q
q 0 0 0 rg BT 522.86 527.55 Td (corporate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (structure ) Tj ET Q
q 0 0 0 rg BT 89.24 514.95 Td (combines ) Tj ET Q
q 0 0 0 rg BT 132.48 514.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 149.48 514.95 Td (nine ) Tj ET Q
q 0 0 0 rg BT 170.56 514.95 Td (asset ) Tj ET Q
q 0 0 0 rg BT 193.98 514.95 Td (managers, ) Tj ET Q
q 0 0 0 rg BT 239.84 514.95 Td (each ) Tj ET Q
q 0 0 0 rg BT 262.07 514.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 283.75 514.95 Td (diverse ) Tj ET Q
q 0 0 0 rg BT 317.07 514.95 Td (perspectives ) Tj ET Q
q 0 0 0 rg BT 371.97 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 390.13 514.95 Td (specialized ) Tj ET Q
q 0 0 0 rg BT 439.78 514.95 Td (expertise ) Tj ET Q
q 0 0 0 rg BT 480.68 514.95 Td (across ) Tj ET Q
q 0 0 0 rg BT 509.93 514.95 Td (asset ) Tj ET Q
q 0 0 0 rg BT 533.34 514.95 Td (classes ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 68.46 502.35 Td (strategies, ) Tj ET Q
q 0 0 0 rg BT 114.53 502.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 136.99 502.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 145.45 502.35 Td (centralized ) Tj ET Q
q 0 0 0 rg BT 195.30 502.35 Td (global ) Tj ET Q
q 0 0 0 rg BT 225.34 502.35 Td (distribution ) Tj ET Q
q 0 0 0 rg BT 277.55 502.35 Td (platform ) Tj ET Q
q 0 0 0 rg BT 317.51 502.35 Td (focusing ) Tj ET Q
q 0 0 0 rg BT 357.46 502.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 371.76 502.35 Td (retail ) Tj ET Q
q 0 0 0 rg BT 397.12 502.35 Td (distribution ) Tj ET Q
q 0 0 0 rg BT 449.34 502.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 468.30 502.35 Td (additional ) Tj ET Q
q 0 0 0 rg BT 514.08 502.35 Td (distribution ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (capabilities ) Tj ET Q
q 0 0 0 rg BT 100.30 489.75 Td (focused ) Tj ET Q
q 0 0 0 rg BT 135.94 489.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 149.43 489.75 Td (institutional ) Tj ET Q
q 0 0 0 rg BT 202.58 489.75 Td (distribution ) Tj ET Q
q 0 0 0 rg BT 253.99 489.75 Td (at ) Tj ET Q
q 0 0 0 rg BT 264.55 489.75 Td (each ) Tj ET Q
q 0 0 0 rg BT 286.77 489.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 298.50 489.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 315.48 489.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 338.88 489.75 Td (managers. ) Tj ET Q
q 0 0 0 rg BT 384.72 489.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 387.49 489.75 Td (W) Tj ET Q
q 0 0 0 rg BT 396.56 489.75 Td (e ) Tj ET Q
q 0 0 0 rg BT 404.21 489.75 Td (help ) Tj ET Q
q 0 0 0 rg BT 425.27 489.75 Td (investors ) Tj ET Q
q 0 0 0 rg BT 466.17 489.75 Td (globally ) Tj ET Q
q 0 0 0 rg BT 503.57 489.75 Td (achieve ) Tj ET Q
q 0 0 0 rg BT 538.61 489.75 Td (better ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (financial ) Tj ET Q
q 0 0 0 rg BT 89.74 477.15 Td (outcomes ) Tj ET Q
q 0 0 0 rg BT 133.49 477.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 147.50 477.15 Td (expanding ) Tj ET Q
q 0 0 0 rg BT 194.75 477.15 Td (choice ) Tj ET Q
q 0 0 0 rg BT 225.65 477.15 Td (across ) Tj ET Q
q 0 0 0 rg BT 255.40 477.15 Td (investment ) Tj ET Q
q 0 0 0 rg BT 304.99 477.15 Td (strategies, ) Tj ET Q
q 0 0 0 rg BT 350.78 477.15 Td (vehicles ) Tj ET Q
q 0 0 0 rg BT 388.69 477.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 407.36 477.15 Td (investor ) Tj ET Q
q 0 0 0 rg BT 444.69 477.15 Td (access ) Tj ET Q
q 0 0 0 rg BT 475.02 477.15 Td (through ) Tj ET Q
q 0 0 0 rg BT 511.19 477.15 Td (independent ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (investment ) Tj ET Q
q 0 0 0 rg BT 98.30 464.55 Td (managers ) Tj ET Q
q 0 0 0 rg BT 141.25 464.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 162.64 464.55 Td (diverse ) Tj ET Q
q 0 0 0 rg BT 195.68 464.55 Td (expertise ) Tj ET Q
q 0 0 0 rg BT 236.31 464.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 247.19 464.55 Td (equity) Tj ET Q
q 0 0 0 rg BT 272.76 464.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 278.10 464.55 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 302.40 464.55 Td (income, ) Tj ET Q
q 0 0 0 rg BT 338.65 464.55 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 385.68 464.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 403.56 464.55 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 441.87 464.55 Td (investments. ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.38 464.55 Td (Operating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.09 464.55 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 451.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.21 451.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.16 451.95 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.72 451.95 Td (fices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.84 451.95 Td (located ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.46 451.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.92 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.05 451.95 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.93 451.95 Td (States, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.94 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.07 451.95 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.95 451.95 Td (Kingdom ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.92 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.38 451.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.34 451.95 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.72 451.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.76 451.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.64 451.95 Td (countries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.43 451.95 Td (worldwide, ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 550.26 451.95 Td (we ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (deliver ) Tj ET Q
q 0 0 0 rg BT 80.70 439.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 96.74 439.35 Td (investment ) Tj ET Q
q 0 0 0 rg BT 144.87 439.35 Td (capabilities ) Tj ET Q
q 0 0 0 rg BT 194.73 439.35 Td (through ) Tj ET Q
q 0 0 0 rg BT 229.44 439.35 Td (varied ) Tj ET Q
q 0 0 0 rg BT 257.72 439.35 Td (products ) Tj ET Q
q 0 0 0 rg BT 295.93 439.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 313.14 439.35 Td (vehicles ) Tj ET Q
q 0 0 0 rg BT 349.59 439.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 366.80 439.35 Td (via ) Tj ET Q
q 0 0 0 rg BT 381.67 439.35 Td (multiple ) Tj ET Q
q 0 0 0 rg BT 418.72 439.35 Td (points ) Tj ET Q
q 0 0 0 rg BT 446.44 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 457.23 439.35 Td (access, ) Tj ET Q
q 0 0 0 rg BT 488.72 439.35 Td (including) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.38 439.35 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.43 439.35 Td (directly ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.95 426.75 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.91 426.75 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.11 426.75 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.14 426.75 Td (intermediaries. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.12 426.75 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.74 426.75 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.11 426.75 Td (advisory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.56 426.75 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.68 426.75 Td (include ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.87 426.75 Td (discretionary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.98 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.44 426.75 Td (non-discretionary ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.77 414.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.15 414.15 Td (separate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.17 414.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.88 414.15 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.24 414.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.04 414.15 Td (numerous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.08 414.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.79 414.15 Td (styles ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.33 414.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.21 414.15 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.00 414.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.79 414.15 Td (individual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.00 414.15 Td (investors. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 546.17 414.15 Td (Our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 401.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.06 401.55 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.71 401.55 Td (include ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.10 401.55 Td (proprietary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.23 401.55 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.88 401.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.70 401.55 Td (ranging ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.26 401.55 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.15 401.55 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.21 401.55 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.85 401.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.50 401.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.56 401.55 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.63 401.55 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.28 401.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 540.93 401.55 Td (fixed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 388.95 Td (income, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.56 388.95 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.33 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.02 388.95 Td (alternative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.86 388.95 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.72 388.95 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.15 388.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.85 388.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.04 388.95 Td (wide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.98 388.95 Td (variety ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.66 388.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.93 388.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.54 388.95 Td (styles. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.36 388.95 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.43 388.95 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.62 388.95 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.06 388.95 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.62 388.95 Td (fer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.80 388.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.90 388.95 Td (domestic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.34 388.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 58.06 376.35 Td (fshore ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.92 376.35 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.88 376.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.67 376.35 Td (both ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.97 376.35 Td (retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.16 376.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.95 376.35 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.74 376.35 Td (investors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.91 376.35 Td (privately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.85 376.35 Td (placed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.88 376.35 Td (real ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.24 376.35 Td (estate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.76 376.35 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.72 376.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.51 376.35 Td (funds-of-hedge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.28 376.35 Td (funds.) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 534.23 376.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 351.15 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.43 351.15 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.43 351.15 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.26 351.15 Td (primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.93 351.15 Td (earn ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.60 351.15 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.51 351.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.61 351.15 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.49 351.15 Td (ging ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.75 351.15 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.25 351.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.09 351.15 Td (managing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.09 351.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.52 351.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.19 351.15 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.29 351.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.63 351.15 Td (clients. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.26 351.15 Td (Fees ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.21 338.55 Td (typically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.83 338.55 Td (calculated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.28 338.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.91 338.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.46 338.55 Td (percentage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.82 338.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.45 338.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.17 338.55 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.79 338.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.79 338.55 Td (AUM; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.10 338.55 Td (accordingly) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.98 338.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.49 338.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.21 338.55 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.91 338.55 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.71 338.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.34 338.55 Td (each ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.46 338.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.10 338.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.98 338.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.28 338.55 Td (managers ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 325.95 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.29 325.95 Td (typically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.48 325.95 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.32 325.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.52 325.95 Td (decrease ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.11 325.95 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.30 325.95 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.68 325.95 Td (average ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.23 325.95 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.18 325.95 Td (increases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.11 325.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.31 325.95 Td (decreases. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.60 325.95 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.80 325.95 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.29 325.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.57 325.95 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.92 325.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.87 325.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.78 325.95 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.73 325.95 Td (vary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.84 325.95 Td (with ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.38 313.35 Td (type ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.50 313.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.29 313.35 Td (account ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.99 313.35 Td (managed, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.56 313.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.44 313.35 Td (amount ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.98 313.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.77 313.35 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.32 313.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.53 313.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.41 313.35 Td (account, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.73 313.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.60 313.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.06 313.35 Td (manager ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.25 313.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.46 313.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.34 313.35 Td (type ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.46 313.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.25 313.35 Td (client. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.25 313.35 Td (Increases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.36 313.35 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.73 300.75 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.52 300.75 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.57 300.75 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.71 300.75 Td (inflows ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.93 300.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.40 300.75 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.12 300.75 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.34 300.75 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.48 300.75 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.70 300.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.58 300.75 Td (existing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.56 300.75 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.69 300.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.58 300.75 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.71 300.75 Td (appreciation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.33 300.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.22 300.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.78 300.75 Td (value ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.91 288.15 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.89 288.15 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.05 288.15 Td (\(including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.86 288.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.60 288.15 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.17 288.15 Td (earned ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.80 288.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.96 288.15 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.95 288.15 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.10 288.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.92 288.15 Td (due ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.74 288.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.57 288.15 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.05 288.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.87 288.15 Td (currency ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.26 288.15 Td (exchange ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.56 288.15 Td (rates\). ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (Conversely) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.64 275.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.20 275.55 Td (decreases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.36 275.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.04 275.55 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.48 275.55 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.48 275.55 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.74 275.55 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.09 275.55 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.34 275.55 Td (redemptions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.19 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.28 275.55 Td (declines ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.62 275.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.73 275.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.49 275.55 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.16 275.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.85 275.55 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.10 275.55 Td (assets. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.16 275.55 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.00 275.55 Td (AUM ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.20 262.95 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.74 262.95 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.76 262.95 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.13 262.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.42 262.95 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.37 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.74 262.95 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.96 262.95 Td (acquisitions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.75 262.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.12 262.95 Td (decrease ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.88 262.95 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.25 262.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.54 262.95 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.49 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.86 262.95 Td (dispositions.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 237.75 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 237.75 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.56 237.75 Td (earn ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.96 237.75 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.34 237.75 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.58 237.75 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.82 237.75 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.71 237.75 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.12 237.75 Td (advisory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.61 237.75 Td (contracts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.85 237.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.42 237.75 Td (exceeding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.31 237.75 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.69 237.75 Td (benchmarks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.76 237.75 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.15 Td (hurdle ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.58 225.15 Td (rates. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.04 225.15 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.62 225.15 Td (lar) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.51 225.15 Td (gest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.67 225.15 Td (portion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.26 225.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.26 225.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.51 225.15 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.81 225.15 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.97 225.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.22 225.15 Td (earned ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.45 225.15 Td (based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.62 225.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.37 225.15 Td (12-month ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.45 225.15 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.76 225.15 Td (periods ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.92 225.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.92 225.15 Td (end ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.33 225.15 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 212.55 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.97 212.55 Td (fering ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.76 212.55 Td (quarters ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.29 212.55 Td (during ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.42 212.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.96 212.55 Td (year) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.60 212.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.94 212.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.32 212.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.69 212.55 Td (portion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.74 212.55 Td (based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.36 212.55 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.57 212.55 Td (quarterly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.18 212.55 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.94 212.55 Td (periods. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.00 212.55 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.07 212.55 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.44 212.55 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.07 212.55 Td (earn ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.85 212.55 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 540.61 212.55 Td (fees ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 199.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 62.35 199.95 Td (alternative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.02 199.95 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.53 199.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.63 199.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.80 199.95 Td (earned ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.13 199.95 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.06 199.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.25 199.95 Td (end ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.76 199.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.86 199.95 Td (varying ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.29 199.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.72 199.95 Td (periods ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.98 199.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.08 199.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.61 199.95 Td (multiple-year ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.52 199.95 Td (intervals. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.66 199.95 Td (For ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.60 199.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.78 199.95 Td (fiscal ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 187.35 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.82 187.35 Td (ended ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.05 187.35 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.62 187.35 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.91 187.35 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.70 187.35 Td (2017 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.87 187.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.19 187.35 Td (2016, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.98 187.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.89 187.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.05 187.35 Td ($3.1 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.59 187.35 Td (billion, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.80 187.35 Td ($2.9 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.34 187.35 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.93 187.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.25 187.35 Td ($2.7 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.79 187.35 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.38 187.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.71 187.35 Td (total ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.54 187.35 Td (revenues, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.64 187.35 Td ($227.8 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 174.75 Td (million, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.62 174.75 Td ($108.3 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.66 174.75 Td (million ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.16 174.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.48 174.75 Td ($42.0 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.27 174.75 Td (million, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.40 174.75 Td (respectively ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.29 174.75 Td (represented ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.84 174.75 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.05 174.75 Td (fees. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.74 174.75 Td (During ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.65 174.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.64 174.75 Td (fiscal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.54 174.75 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.86 174.75 Td (ended ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.09 174.75 Td (March ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 162.15 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.20 162.15 Td (2018 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.78 162.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.52 162.15 Td (2017, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.72 162.15 Td ($108.8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.17 162.15 Td (million ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.09 162.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.82 162.15 Td ($60.8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.03 162.15 Td (million, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.57 162.15 Td (respectively) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.61 162.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.81 162.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.14 162.15 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.29 162.15 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.92 162.15 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.40 162.15 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.38 162.15 Td (earned ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.93 162.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.01 162.15 Td (Clarion ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 149.55 Td (Partners ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.90 149.55 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.40 149.55 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.89 149.55 Td (invested ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.88 149.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.54 149.55 Td (them ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.53 149.55 Td (prior ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.94 149.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.10 149.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.92 149.55 Td (closing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.25 149.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.99 149.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.98 149.55 Td (acquisition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.05 149.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.79 149.55 Td (Clarion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.28 149.55 Td (Partners ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.69 149.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.41 149.55 Td (April ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.57 149.55 Td (2016 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.56 149.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.72 149.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.53 149.55 Td (passed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 136.95 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.88 136.95 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.34 136.95 Td (compensation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.37 136.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.25 136.95 Td (Clarion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.46 136.95 Td (Partners�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.58 136.95 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.29 136.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.65 136.95 Td (team ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.77 136.95 Td (pursuant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.64 136.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.52 136.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.06 136.95 Td (terms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.11 136.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.56 136.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.11 136.95 Td (Clarion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.31 136.95 Td (Partners ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.43 136.95 Td (acquisition ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 124.35 Td (agreement. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.27 124.35 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.70 124.35 Td (Exclusive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.53 124.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.70 124.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.95 124.35 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.42 124.35 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.75 124.35 Td (passed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.17 124.35 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.26 124.35 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.43 124.35 Td (compensation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.17 124.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.76 124.35 Td (Clarion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.68 124.35 Td (Partners�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.81 124.35 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.23 124.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.30 124.35 Td (team, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.76 124.35 Td (as ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.60 111.75 Td (approximately ) Tj ET Q
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BT /F2 10.50 Tf ET
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BT /F2 10.50 Tf ET
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BT /F2 10.50 Tf ET
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BT /F2 10.50 Tf ET
q 0 0 0 rg BT 299.55 708.44 Td (% of ) Tj ET Q
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BT /F2 10.50 Tf ET
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BT /F2 10.50 Tf ET
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BT /F2 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.83 579.95 Td (basis. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.20 579.95 Td (Beginning ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.68 579.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.58 579.95 Td (fiscal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.06 579.95 Td (year ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.86 579.95 Td (2017, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.23 579.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.21 579.95 Td (began ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.01 579.95 Td (reporting ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 567.35 Td (Alternative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.02 567.35 Td (Assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.09 567.35 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.49 567.35 Td (part ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.46 567.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.86 567.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.14 567.35 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.30 567.35 Td (classifications. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.94 567.35 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.01 567.35 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.32 567.35 Td (currently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.87 567.35 Td (define ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.39 567.35 Td (Alternative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.91 567.35 Td (Assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.98 567.35 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.38 567.35 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.16 567.35 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.32 567.35 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.87 567.35 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.02 567.35 Td (Clarion ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 554.75 Td (Partners, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.63 554.75 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.33 554.75 Td (rustPermal, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.54 554.75 Td (RARE ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.64 554.75 Td (Infrastructure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.87 554.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.71 554.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.46 554.75 Td (small ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.30 554.75 Td (private ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.54 554.75 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.88 554.75 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.56 554.75 Td (prior ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.06 554.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.32 554.75 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.34 554.75 Td (sale ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.75 554.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.34 554.75 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.84 554.75 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.06 554.75 Td (2017. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.09 554.75 Td (All ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 542.15 Td (prior ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.54 542.15 Td (periods ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.07 542.15 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.52 542.15 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.96 542.15 Td (revised ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.91 542.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.70 542.15 Td (present ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.07 542.15 Td (Alternative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.35 542.15 Td (Assets.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 516.95 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 516.95 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.93 516.95 Td (believe ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.95 516.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.40 516.95 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.26 516.95 Td (conditions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.71 516.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.57 516.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.27 516.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.06 516.95 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.81 516.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.33 516.95 Td (critical ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.18 516.95 Td (elements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.20 516.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.08 516.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.77 516.95 Td (attempts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.06 516.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.93 516.95 Td (grow ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 504.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.72 504.35 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.08 504.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.09 504.35 Td (business. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.95 504.35 Td (When ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.87 504.35 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.38 504.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.98 504.35 Td (real ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.57 504.35 Td (estate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.32 504.35 Td (markets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.42 504.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.09 504.35 Td (increasing, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.72 504.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.94 504.35 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.29 504.35 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.48 504.35 Td (tend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.41 504.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.43 504.35 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.68 504.35 Td (because ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.76 504.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 491.75 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.07 491.75 Td (performance, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.17 491.75 Td (resulting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.33 491.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.92 491.75 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.33 491.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.16 491.75 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.23 491.75 Td (revenues. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.59 491.75 Td (Similarly) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.99 491.75 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.04 491.75 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.87 491.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.53 491.75 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.52 491.75 Td (produce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.76 491.75 Td (positive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.43 491.75 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 479.15 Td (results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.07 479.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.40 479.15 Td (maintain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.30 479.15 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.02 479.15 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.00 479.15 Td (levels, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.28 479.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.74 479.15 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.40 479.15 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.90 479.15 Td (tend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.13 479.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.46 479.15 Td (increase. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.64 479.15 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.54 479.15 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.74 479.15 Td (favorable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.54 479.15 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.86 479.15 Td (conditions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.77 479.15 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 466.55 Td (strong ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.88 466.55 Td (relative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.50 466.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.71 466.55 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.90 466.55 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.60 466.55 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.06 466.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.37 466.55 Td (increased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.14 466.55 Td (inflows ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.78 466.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.08 466.55 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.71 466.55 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.26 466.55 Td (existing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.64 466.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.94 466.55 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.56 466.55 Td (clients. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.73 466.55 Td (Conversely) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 553.88 466.55 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 453.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.43 453.95 Td (periods ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.10 453.95 Td (when ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.61 453.95 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.02 453.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.53 453.95 Td (real ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.03 453.95 Td (estate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.70 453.95 Td (markets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.70 453.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.28 453.95 Td (weak ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.19 453.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.70 453.95 Td (declining, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.16 453.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.67 453.95 Td (when ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.18 453.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.19 453.95 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.77 453.95 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.95 453.95 Td (maintained ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.36 453.95 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.69 453.95 Td (fee ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 441.35 Td (levels ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.62 441.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.98 441.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.43 441.35 Td (produced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.12 441.35 Td (poor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.99 441.35 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.69 441.35 Td (performance, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.99 441.35 Td (absolute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.60 441.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.97 441.35 Td (relative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.07 441.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.86 441.35 Td (benchmarks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.22 441.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.59 441.35 Td (peers, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.99 441.35 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.45 441.35 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.07 441.35 Td (likely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.61 441.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.40 441.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.93 441.35 Td (more ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 428.75 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.97 428.75 Td (ficult ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.76 428.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.55 428.75 Td (grow ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.76 428.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.80 428.75 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.93 428.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.71 428.75 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.92 428.75 Td (and, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.33 428.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.13 428.75 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.00 428.75 Td (periods, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.16 428.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.20 428.75 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.33 428.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.12 428.75 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.33 428.75 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.03 428.75 Td (decline.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 403.55 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 403.55 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.73 403.55 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.30 403.55 Td (manage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.46 403.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.79 403.55 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.03 403.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.28 403.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.78 403.55 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.70 403.55 Td (pursuant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.36 403.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.03 403.55 Td (written ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.28 403.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.86 403.55 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.01 403.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.26 403.55 Td (sub-advisory ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 390.95 Td (contracts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.33 390.95 Td (between ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.25 390.95 Td (one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.34 390.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.02 390.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.94 390.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.29 390.95 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.45 390.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.54 390.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.30 390.95 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.56 390.95 Td (\(or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.73 390.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.33 390.95 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.99 390.95 Td (intermediary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.57 390.95 Td (acting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.15 390.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.58 390.95 Td (behalf ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.75 390.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.43 390.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.19 390.95 Td (client\). ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.43 390.95 Td (These ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 378.35 Td (contracts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.56 378.35 Td (usually ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.06 378.35 Td (specify) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.70 378.35 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.48 378.35 Td (among ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.22 378.35 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.96 378.35 Td (things, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.42 378.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.41 378.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.22 378.35 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.28 378.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.61 378.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.69 378.35 Td (paid ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.93 378.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.25 378.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.25 378.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.82 378.35 Td (manager ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.13 378.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.45 378.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.44 378.35 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 365.75 Td (strategy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.42 365.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.33 365.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.84 365.75 Td (account, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.79 365.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.63 365.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.12 365.75 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.86 365.75 Td (terminable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.44 365.75 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.61 365.75 Td (either ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.19 365.75 Td (party ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.44 365.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.62 365.75 Td (relatively ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.94 365.75 Td (short ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.62 365.75 Td (notice. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.31 365.75 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.99 365.75 Td (ypically) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.13 365.75 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.44 365.75 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 353.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.34 353.15 Td (contracts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.43 353.15 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.69 353.15 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.30 353.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.40 353.15 Td (assigned ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.76 353.15 Td (\(including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.11 353.15 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.04 353.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.89 353.15 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.41 353.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.35 353.15 Td (transactions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.32 353.15 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.76 353.15 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.69 353.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.55 353.15 Td (direct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.64 353.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.58 353.15 Td (indirect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.84 353.15 Td (change ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.76 353.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 340.55 Td (control ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.72 340.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.94 340.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.24 340.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.13 340.55 Td (manager) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.85 340.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.95 340.55 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.84 340.55 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.15 340.55 Td (would ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.88 340.55 Td (constitute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.18 340.55 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.56 340.55 Td (assignment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.28 340.55 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.67 340.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.97 340.55 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.33 340.55 Td (Advisers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.37 340.55 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.01 340.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.23 340.55 Td (1940 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.70 340.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.92 340.55 Td (other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 327.95 Td (applicable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.71 327.95 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.92 327.95 Td (requirements\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.30 327.95 Td (without ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.44 327.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.34 327.95 Td (prior ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.81 327.95 Td (consent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.95 327.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.76 327.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.65 327.95 Td (client. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.44 327.95 Td (When ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.58 327.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.47 327.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.94 327.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.65 327.95 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.04 327.95 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.11 327.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.83 327.95 Td (U.S. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 315.35 Td (registered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.68 315.35 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.63 315.35 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.65 315.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.18 315.35 Td (closed-end ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.45 315.35 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.48 315.35 Td (\(whether ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.58 315.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.10 315.35 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.31 315.35 Td (one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.25 315.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.78 315.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.56 315.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.75 315.35 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.77 315.35 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.55 315.35 Td (sponsored ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.91 315.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.52 315.35 Td (fund\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.67 315.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.28 315.35 Td (fund's ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 302.75 Td (board ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.88 302.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.11 302.75 Td (directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.32 302.75 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.86 302.75 Td (must ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.76 302.75 Td (annually ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.40 302.75 Td (approve ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.69 302.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.00 302.75 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.55 302.75 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.67 302.75 Td (contract, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.59 302.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.23 302.75 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.87 302.75 Td (material ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.74 302.75 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.04 302.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.68 302.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 290.15 Td (contract, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.54 290.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.31 290.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.74 290.15 Td (fund�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.90 290.15 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.60 290.15 Td (board ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.11 290.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.46 290.15 Td (directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.80 290.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.56 290.15 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.42 290.15 Td (shareholders ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.08 290.15 Td (must ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.11 290.15 Td (approve ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.53 290.15 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.30 290.15 Td (assignment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.15 290.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.50 290.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.93 290.15 Td (contract ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.35 290.15 Td (\(including ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 277.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.87 277.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.16 277.55 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.11 277.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.48 277.55 Td (transactions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.26 277.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.63 277.55 Td (would ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.51 277.55 Td (constitute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.96 277.55 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.50 277.55 Td (assignment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.37 277.55 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.90 277.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.35 277.55 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.63 277.55 Td (Company ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.51 277.55 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.30 277.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.67 277.55 Td (1940\).) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 252.35 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 252.35 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.98 252.35 Td (conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.97 252.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.55 252.35 Td (majority ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.88 252.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.38 252.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.13 252.35 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.47 252.35 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.88 252.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.63 252.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.80 252.35 Td (managers. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.41 252.35 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.49 252.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.65 252.35 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.64 252.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.21 252.35 Td (individual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.54 252.35 Td (businesses, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 239.75 Td (each ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.78 239.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.57 239.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.27 239.75 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.38 239.75 Td (focuses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.91 239.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.46 239.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.16 239.75 Td (portion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.54 239.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.33 239.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.20 239.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.66 239.75 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.34 239.75 Td (industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.81 239.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.02 239.75 Td (terms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.39 239.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.18 239.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.05 239.75 Td (types ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.26 239.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.05 239.75 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.59 239.75 Td (managed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 227.15 Td (\(primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.65 227.15 Td (alternatives, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.25 227.15 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.07 227.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.40 227.15 Td (fixed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.55 227.15 Td (income\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.16 227.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.57 227.15 Td (types ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.31 227.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.64 227.15 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.38 227.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.12 227.15 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.51 227.15 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.07 227.15 Td (fered, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.84 227.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.25 227.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.90 227.15 Td (styles ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.40 227.15 Td (utilized, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 214.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.01 214.55 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.11 214.55 Td (channels ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.53 214.55 Td (used, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.08 214.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.93 214.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.44 214.55 Td (types ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.28 214.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.12 214.55 Td (geographic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.45 214.55 Td (locations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.04 214.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.47 214.55 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.07 214.55 Td (clients. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.79 214.55 Td (Each ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.46 214.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.55 214.55 Td (manager ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.38 214.55 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.06 214.55 Td (housed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.49 214.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.34 214.55 Td (one ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 201.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.14 201.95 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.61 201.95 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.08 201.95 Td (ferent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.46 201.95 Td (subsidiaries. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.14 201.95 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.70 201.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.34 201.95 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.64 201.95 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.65 201.95 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.17 201.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.31 201.95 Td (directly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.27 201.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.91 201.95 Td (indirectly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.04 201.95 Td (owned ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.93 201.95 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.32 201.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.96 201.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.68 201.95 Td (voting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.41 201.95 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.55 201.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.19 201.95 Td (Brandywine ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 189.35 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.83 189.35 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.24 189.35 Td (Management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.44 189.35 Td (ClearBridge ) Tj ET Q
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/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.27 703.95 Td (Royce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.33 703.95 Td (& ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 691.35 Td (Associates, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.85 691.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.69 691.35 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.76 691.35 Td (estern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.24 691.35 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.38 691.35 Td (Management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.01 691.35 Td (Company) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.16 691.35 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.60 691.35 Td (and/or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.23 691.35 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.61 691.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.16 691.35 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.22 691.35 Td (key ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.19 691.35 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.75 691.35 Td (ficers. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.50 691.35 Td (Under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.55 691.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.19 691.35 Td (terms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.33 691.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.89 691.35 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.27 691.35 Td (revenue ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 678.75 Td (sharing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.93 678.75 Td (arrangements, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.64 678.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.82 678.75 Td (specified ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.24 678.75 Td (percentage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.23 678.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.50 678.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.85 678.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.78 678.75 Td (manager's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.43 678.75 Td (revenues, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.89 678.75 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.24 678.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.50 678.75 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.59 678.75 Td (third ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.94 678.75 Td (party ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.04 678.75 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.98 678.75 Td (expenses, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 666.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 58.40 666.15 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.27 666.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.33 666.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.14 666.15 Td (distributed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.94 666.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.00 666.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.72 666.15 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.86 666.15 Td (owners ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.08 666.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.72 666.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.44 666.15 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.92 666.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.98 666.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.70 666.15 Td (balance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.65 666.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.29 666.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.01 666.15 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.22 666.15 Td (\(or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.36 666.15 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.08 666.15 Td (revenues\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.78 666.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.68 666.15 Td (retained ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 653.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.76 653.55 Td (pay ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.01 653.55 Td (operating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.76 653.55 Td (expenses, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.38 653.55 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.14 653.55 Td (salaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.72 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.97 653.55 Td (bonuses, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.53 653.55 Td (but ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.04 653.55 Td (excluding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.54 653.55 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.19 653.55 Td (expenses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.19 653.55 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.53 653.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.37 653.55 Td (amortization ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.53 653.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.37 653.55 Td (acquired ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (intangible ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.69 640.95 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.38 640.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.73 640.95 Td (excluding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.33 640.95 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.43 640.95 Td (taxes. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.83 640.95 Td (Specific ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.43 640.95 Td (compensation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.94 640.95 Td (allocations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.62 640.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.64 640.95 Td (determined ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.06 640.95 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.76 640.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.78 640.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.38 640.95 Td (manager's ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.35 Td (management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.12 628.35 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.22 628.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.73 628.35 Td (corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.73 628.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.73 628.35 Td (approval ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.81 628.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.33 628.35 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.25 628.35 Td (cases. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.64 628.35 Td (Although, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.28 628.35 Td (without ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.72 628.35 Td (renegotiation, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.10 628.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.27 628.35 Td (revenue ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.75 Td (sharing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.95 615.75 Td (arrangements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.05 615.75 Td (impede ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.50 615.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.03 615.75 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.40 615.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.11 615.75 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.05 615.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.58 615.75 Td (profit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.45 615.75 Td (mar) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.59 615.75 Td (gins ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.63 615.75 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.58 615.75 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.70 615.75 Td (businesses, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.20 615.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.98 615.75 Td (believe ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.84 615.75 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.96 615.75 Td (arrangements ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.15 Td (help ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 69.96 603.15 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.69 603.15 Td (retain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.98 603.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.52 603.15 Td (attract ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.14 603.15 Td (talented ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.76 603.15 Td (employees. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.68 603.15 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.81 603.15 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.24 603.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.45 603.15 Td (revenue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.07 603.15 Td (sharing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.36 603.15 Td (arrangements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.31 603.15 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.77 603.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.80 603.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.94 603.15 Td (these ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 590.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.08 590.55 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.48 590.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.31 590.55 Td (incentives ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.05 590.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.38 590.55 Td (\(i\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.46 590.55 Td (grow ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.20 590.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.20 590.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.77 590.55 Td (managers' ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.06 590.55 Td (revenues, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.17 590.55 Td (since ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.91 590.55 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.72 590.55 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.89 590.55 Td (able ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.55 590.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.88 590.55 Td (participate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.36 590.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.69 590.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 577.95 Td (revenue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.09 577.95 Td (growth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.20 577.95 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.23 577.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.42 577.95 Td (portion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.11 577.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.22 577.95 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.58 577.95 Td (retained; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.68 577.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.20 577.95 Td (\(ii\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.39 577.95 Td (control ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.50 577.95 Td (operating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.51 577.95 Td (expenses, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.40 577.95 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.43 577.95 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.12 577.95 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.88 577.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.07 577.95 Td (portion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.76 577.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.70 565.35 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.40 565.35 Td (retained ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.58 565.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.71 565.35 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.09 565.35 Td (available ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.36 565.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.90 565.35 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.52 565.35 Td (growth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.65 565.35 Td (initiatives ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.43 565.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.97 565.35 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.59 565.35 Td (incentive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.45 565.35 Td (compensation. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.77 565.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.90 565.35 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.31 565.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.51 565.35 Td (chief ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (executive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.99 552.75 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.55 552.75 Td (ficer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.05 552.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.06 552.75 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.77 552.75 Td (rustPermal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.52 552.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.95 552.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.04 552.75 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.95 552.75 Td (teams ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.71 552.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.72 552.75 Td (Clarion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.48 552.75 Td (Partners, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.78 552.75 Td (ClearBridge, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.98 552.75 Td (Royce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.07 552.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.50 552.75 Td (RARE ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (Infrastructure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.23 540.15 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.65 540.15 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.57 540.15 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.41 540.15 Td (interests ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.00 540.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.76 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.18 540.15 Td (applicable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.92 540.15 Td (company) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.73 540.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.95 540.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.21 540.15 Td (helps ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.97 540.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.73 540.15 Td (align ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.32 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.74 540.15 Td (interests ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.33 540.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.67 540.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.77 527.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.14 527.55 Td (those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.93 527.55 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.90 527.55 Td (filiates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.10 527.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.39 527.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.84 527.55 Td (interests ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.46 527.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.83 527.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.46 527.55 Td (shareholders.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (Asset Managers) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 477.15 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.39 477.15 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.37 477.15 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.16 477.15 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.80 477.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.03 477.15 Td (wide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.00 477.15 Td (range ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.88 477.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.19 477.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.83 477.15 Td (advisory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.56 477.15 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.94 477.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.67 477.15 Td (separately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.80 477.15 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.26 477.15 Td (account ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.47 477.15 Td (clients, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 464.55 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.43 464.55 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.87 464.55 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.55 464.55 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.06 464.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.08 464.55 Td (pension ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.01 464.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.44 464.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.29 464.55 Td (retirement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.70 464.55 Td (plans, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.76 464.55 Td (corporations, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.14 464.55 Td (insurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.64 464.55 Td (companies, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.43 464.55 Td (endowments ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.42 451.95 Td (foundations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.76 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.68 451.95 Td (governments, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.31 451.95 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.81 451.95 Td (well ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.65 451.95 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.16 451.95 Td (retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.49 451.95 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.66 451.95 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.67 451.95 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.18 451.95 Td (high ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.61 451.95 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.20 451.95 Td (worth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.45 451.95 Td (individuals ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.88 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.80 451.95 Td (families, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.01 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.94 451.95 Td (retail ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (separately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.11 439.35 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.06 439.35 Td (account ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.75 439.35 Td (programs. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.09 439.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.88 439.35 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.97 439.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.01 439.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.47 439.35 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.75 439.35 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.72 439.35 Td (manage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.41 439.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.21 439.35 Td (sub-advise ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.16 439.35 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.12 439.35 Td (groups ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.76 439.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (proprietary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.02 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.06 426.75 Td (non-proprietary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.83 426.75 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.38 426.75 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.42 426.75 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.63 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.67 426.75 Td (exchange-traded ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.92 426.75 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.13 426.75 Td (\(�ETFs�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.08 426.75 Td (registered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.35 426.75 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.14 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.84 426.75 Td (Investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (Company ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.09 414.15 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.79 414.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.07 414.15 Td (1940, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.23 414.15 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.51 414.15 Td (amended, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.57 414.15 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.77 414.15 Td (equity) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.34 414.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.50 414.15 Td (fixed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.61 414.15 Td (income, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.68 414.15 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.80 414.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.50 414.15 Td (balanced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.34 414.15 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.84 414.15 Td (Certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.28 414.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.56 414.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.09 414.15 Td (asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 401.55 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.42 401.55 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.02 401.55 Td (manage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.36 401.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.79 401.55 Td (sub-advise ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.38 401.55 Td (numerous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.48 401.55 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.23 401.55 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.08 401.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.10 401.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.54 401.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.04 401.55 Td (domiciled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.72 401.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.56 401.55 Td (distributed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.16 401.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.02 401.55 Td (countries ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 388.95 Td (around ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.28 388.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.74 388.95 Td (globe.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 363.75 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 363.75 Td (estern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.39 363.75 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.25 363.75 Td (Management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.59 363.75 Td (Company ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.95 363.75 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.48 363.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.66 363.75 Td (leading ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.10 363.75 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.87 363.75 Td (fixed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.97 363.75 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.40 363.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.34 363.75 Td (manager ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.01 363.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.78 363.75 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.47 363.75 Td (clients. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (Headquartered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.75 351.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.37 351.15 Td (Pasadena, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.52 351.15 Td (California, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.92 351.15 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.99 351.15 Td (estern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.75 351.15 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.54 351.15 Td (Management's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.78 351.15 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.97 351.15 Td (include ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.33 351.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.86 351.15 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.06 351.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.68 351.15 Td (New ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.55 Td (Y) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 56.03 338.55 Td (ork ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.71 338.55 Td (City) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.12 338.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.43 338.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.95 338.55 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.21 338.55 Td (Kingdom, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.19 338.55 Td (Japan, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.41 338.55 Td (Brazil, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.79 338.55 Td (Australia ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.96 338.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.81 338.55 Td (Singapore. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.50 338.55 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.57 338.55 Td (estern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.74 338.55 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.76 338.55 Td (Management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.26 338.55 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.82 338.55 Td (fers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.24 338.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.59 338.55 Td (broad ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.18 338.55 Td (range ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 325.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.97 325.95 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.86 325.95 Td (spanning ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.51 325.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.06 325.95 Td (yield ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.79 325.95 Td (curve ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.83 325.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.72 325.95 Td (encompassing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.94 325.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.49 325.95 Td (world's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.70 325.95 Td (major ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.92 325.95 Td (bond ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.65 325.95 Td (markets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.24 325.95 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.63 325.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.02 325.95 Td (suite ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.58 325.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.05 325.95 Td (limited ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.53 325.95 Td (duration ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.83 313.35 Td (core ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.06 313.35 Td (products, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.01 313.35 Td (emer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.80 313.35 Td (ging ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.64 313.35 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.95 313.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.28 313.35 Td (high ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.11 313.35 Td (yield ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.27 313.35 Td (portfolios, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.89 313.35 Td (municipal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.05 313.35 Td (portfolios ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.04 313.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.37 313.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.20 313.35 Td (variety ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.51 313.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.42 313.35 Td (sector) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.29 313.35 Td (-oriented ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.35 313.35 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.68 300.75 Td (products. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.27 300.75 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.34 300.75 Td (estern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.92 300.75 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.19 300.75 Td (Management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.94 300.75 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.80 300.75 Td (sub-advises ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.73 300.75 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.34 300.75 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.44 300.75 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.71 300.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.40 300.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.15 300.75 Td (sponsored ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.67 300.75 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.11 300.75 Td (third ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.88 300.75 Td (parties. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.00 300.75 Td (Among ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.30 288.15 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.88 288.15 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.95 288.15 Td (estern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.34 288.15 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.65 288.15 Td (Management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.44 288.15 Td (provides ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.58 288.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.37 288.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.99 288.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.71 288.15 Td (separate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.08 288.15 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.79 288.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.93 288.15 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.57 288.15 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.71 288.15 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.65 288.15 Td (one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.78 288.15 Td (real ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (estate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.41 275.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.48 275.55 Td (trust, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.78 275.55 Td (closed-end ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.26 275.55 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.22 275.55 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.29 275.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.63 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.79 275.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.37 275.55 Td (structured ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.35 275.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.43 275.55 Td (products. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.56 275.55 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.23 275.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.98 275.55 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.39 275.55 Td (31, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.56 262.95 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.63 262.95 Td (estern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.75 262.95 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.71 262.95 Td (Management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.15 262.95 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.67 262.95 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.79 262.95 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.09 262.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.37 262.95 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.74 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.11 262.95 Td ($ ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.98 262.95 Td (426.0 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.23 262.95 Td (billion.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 237.75 Td (ClearBridge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.43 237.75 Td (Investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.79 237.75 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.41 237.75 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.94 237.75 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.80 237.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.83 237.75 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.09 237.75 Td (firm ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.78 237.75 Td (based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.30 237.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.09 237.75 Td (New ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.99 237.75 Td (Y) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.52 237.75 Td (ork ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.14 237.75 Td (City ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.84 237.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.20 237.75 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.73 237.75 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.35 237.75 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.90 237.75 Td (fices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.34 237.75 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.15 Td (Baltimore, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.53 225.15 Td (Maryland ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.76 225.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.16 225.15 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.65 225.15 Td (ilmington, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.53 225.15 Td (Delaware. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.79 225.15 Td (ClearBridge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.51 225.15 Td (Investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.67 225.15 Td (provides ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.24 225.15 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.07 225.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.12 225.15 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.35 225.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.93 225.15 Td (certain ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 212.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.24 212.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.07 212.55 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.31 212.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.64 212.55 Td (\(including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.79 212.55 Td (balanced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.10 212.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.43 212.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.58 212.55 Td (closed-end ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.06 212.55 Td (funds\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.88 212.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.05 212.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.87 212.55 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.44 212.55 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.02 212.55 Td (Funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.32 212.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.48 212.55 Td (retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.05 212.55 Td (separately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.60 212.55 Td (managed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 199.95 Td (account ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.19 199.95 Td (programs, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.51 199.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.71 199.95 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.31 199.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.09 199.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.13 199.95 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.23 199.95 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.60 199.95 Td (and, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.42 199.95 Td (primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.53 199.95 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.23 199.95 Td (separate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.66 199.95 Td (accounts, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.06 199.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.26 199.95 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.47 199.95 Td (clients. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 187.35 Td (ClearBridge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.30 187.35 Td (Investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.52 187.35 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.91 187.35 Td (sub-advises ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.39 187.35 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.54 187.35 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.19 187.35 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.00 187.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.22 187.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.52 187.35 Td (sponsored ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.58 187.35 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.56 187.35 Td (third ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.87 187.35 Td (parties. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.97 187.35 Td (ClearBridge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.76 187.35 Td (Investments ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 174.75 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 58.06 174.75 Td (fers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.84 174.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.54 174.75 Td (diverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.90 174.75 Td (array ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.50 174.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.29 174.75 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.40 174.75 Td (styles ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.36 174.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.56 174.75 Td (disciplines, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.14 174.75 Td (designed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.50 174.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.71 174.75 Td (address ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.24 174.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.94 174.75 Td (range ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.30 174.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.08 174.75 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.20 174.75 Td (objectives. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.43 174.75 Td (Significant ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 162.15 Td (ClearBridge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.87 162.15 Td (Investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.66 162.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.79 162.15 Td (styles ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.75 162.15 Td (include ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.71 162.15 Td (low ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.51 162.15 Td (volatility) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.74 162.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.42 162.15 Td (high ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.13 162.15 Td (active ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.25 162.15 Td (shares ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.54 162.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.75 162.15 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.71 162.15 Td (solutions. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.31 162.15 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.10 162.15 Td (managing ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 149.55 Td (assets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.49 149.55 Td (ClearBridge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.68 149.55 Td (Investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.29 149.55 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.23 149.55 Td (utilizes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.42 149.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.95 149.55 Td (bottoms-up, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.28 149.55 Td (research ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.12 149.55 Td (intensive, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.53 149.55 Td (fundamental ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.88 149.55 Td (approach ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.23 149.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.27 149.55 Td (security ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 136.95 Td (selection ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.85 136.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.62 136.95 Td (seeks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.39 136.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.58 136.95 Td (identify ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.27 136.95 Td (companies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.20 136.95 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.89 136.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.75 136.95 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.52 136.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.71 136.95 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.81 136.95 Td (solid ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.26 136.95 Td (economic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.10 136.95 Td (returns ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.29 136.95 Td (relative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.79 136.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.99 136.95 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.26 136.95 Td (risk-adjusted ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 124.35 Td (valuations. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.33 124.35 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.63 124.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.00 124.35 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.03 124.35 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.78 124.35 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.03 124.35 Td (ClearBridge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.97 124.35 Td (Investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.34 124.35 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.86 124.35 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.98 124.35 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.28 124.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.56 124.35 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.93 124.35 Td (of ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.23 666.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.15 666.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.73 666.15 Td (leading ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.55 666.15 Td (manager ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.61 666.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.27 666.15 Td (real ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.92 666.15 Td (estate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.74 666.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.73 666.15 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.60 666.15 Td (Headquartered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.31 666.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.40 666.15 Td (New ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.70 666.15 Td (Y) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.24 666.15 Td (ork, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.77 666.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.51 666.15 Td (firm ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.51 666.15 Td (has ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 653.55 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 58.06 653.55 Td (fices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.37 653.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.48 653.55 Td (Atlanta, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.50 653.55 Td (Boston, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.37 653.55 Td (Dallas, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.31 653.55 Td (London, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.09 653.55 Td (Los ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.78 653.55 Td (Angeles, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.30 653.55 Td (S�o ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.54 653.55 Td (Paulo, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.57 653.55 Td (Seattle ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.63 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.10 653.55 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.17 653.55 Td (ashington, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.12 653.55 Td (DC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.20 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.85 653.55 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.40 653.55 Td (fers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.63 653.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.78 653.55 Td (broad ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.18 653.55 Td (range ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.32 640.95 Td (real ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.13 640.95 Td (estate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.11 640.95 Td (strategies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.83 640.95 Td (across ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.15 640.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.05 640.95 Td (risk/return ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.86 640.95 Td (spectrum ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.43 640.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.67 640.95 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.91 640.95 Td (investors. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.52 640.95 Td (Clarion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.09 640.95 Td (Partners ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.58 640.95 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.13 640.95 Td (fers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.95 640.95 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.94 640.95 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.83 640.95 Td (through ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.35 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.50 628.35 Td (separate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.73 628.35 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.30 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.29 628.35 Td (privately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.44 628.35 Td (placed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.68 628.35 Td (open-end ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.58 628.35 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.96 628.35 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.47 628.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.05 628.35 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.28 628.35 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.24 628.35 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.70 628.35 Td (Clarion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.03 628.35 Td (Partners ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.27 628.35 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.00 628.35 Td (assets ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.75 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.79 615.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.08 615.75 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.44 615.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.81 615.75 Td ($45.6 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.06 615.75 Td (billion.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 590.55 Td (Martin ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.43 590.55 Td (Currie ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.61 590.55 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.97 590.55 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.23 590.55 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.65 590.55 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.25 590.55 Td (specialist ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.68 590.55 Td (headquartered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.50 590.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.02 590.55 Td (Edinbur) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.66 590.55 Td (gh, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.13 590.55 Td (Scotland ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.23 590.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.26 590.55 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.60 590.55 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.16 590.55 Td (fices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.33 590.55 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 577.95 Td (London, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.58 577.95 Td (England ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.37 577.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.33 577.95 Td (Melbourne, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.20 577.95 Td (Australia. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.11 577.95 Td (It ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.32 577.95 Td (manages ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.85 577.95 Td (active ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.71 577.95 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.18 577.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.13 577.95 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.99 577.95 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.03 577.95 Td (portfolios ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.66 577.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.70 577.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.15 577.95 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.19 577.95 Td (client ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (base ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.46 565.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.52 565.35 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.55 565.35 Td (institutions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.16 565.35 Td (charities, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.66 565.35 Td (foundations, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.17 565.35 Td (endowments, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.17 565.35 Td (pension ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.14 565.35 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.41 565.35 Td (family ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.12 565.35 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.68 565.35 Td (fices, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.43 565.35 Td (government ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.89 565.35 Td (agencies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.34 565.35 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.20 552.75 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.21 552.75 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.50 552.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.87 552.75 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.90 552.75 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.65 552.75 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.90 552.75 Td (Martin ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.11 552.75 Td (Currie ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.56 552.75 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.08 552.75 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.35 552.75 Td ($18.5 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.60 552.75 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.65 552.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.86 552.75 Td (AUM.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 527.55 Td (Royce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.15 527.55 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.99 527.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.64 527.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.55 527.55 Td (advisor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.29 527.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.28 527.55 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.61 527.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.98 527.55 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.13 527.55 Td (Royce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.79 527.55 Td (Funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.92 527.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.41 527.55 Td (proprietary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.88 527.55 Td (range ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.03 527.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.60 527.55 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.68 527.55 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.18 527.55 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.17 527.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.33 527.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.91 514.95 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.73 514.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.72 514.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.96 514.95 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.28 514.95 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.48 514.95 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.47 514.95 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.76 514.95 Td (Royce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.83 514.95 Td (manages ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.81 514.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.64 514.95 Td (pooled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.46 514.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.87 514.95 Td (separately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.68 514.95 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.82 514.95 Td (accounts, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.43 514.95 Td (primarily ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 63.73 502.35 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.90 502.35 Td (clients. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.92 502.35 Td (Headquartered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.71 502.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.87 502.35 Td (New ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.39 502.35 Td (Y) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.93 502.35 Td (ork ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.91 502.35 Td (City) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.32 502.35 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.94 502.35 Td (Royce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.75 502.35 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.81 502.35 Td (invests ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.97 502.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.13 502.35 Td (smaller ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.03 502.35 Td (company ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.51 502.35 Td (stocks, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.37 502.35 Td (using ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.12 502.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.77 502.35 Td (value ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 489.75 Td (approach. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.92 489.75 Td (Royce�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.66 489.75 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.07 489.75 Td (stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.55 489.75 Td (selection ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.19 489.75 Td (process ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.00 489.75 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.38 489.75 Td (seeks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.45 489.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.93 489.75 Td (identify ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.91 489.75 Td (companies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.13 489.75 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.12 489.75 Td (strong ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.69 489.75 Td (balance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.07 489.75 Td (sheets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.05 489.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.53 489.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.68 489.75 Td (ability ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.37 477.15 Td (generate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.63 477.15 Td (free ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.65 477.15 Td (cash ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.01 477.15 Td (flow) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.57 477.15 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.90 477.15 Td (Royce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.43 477.15 Td (pursues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.21 477.15 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.57 477.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.02 477.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.54 477.15 Td (priced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.48 477.15 Td (below ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.84 477.15 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.47 477.15 Td (estimate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.16 477.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.61 477.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.14 477.15 Td (issuer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.03 477.15 Td (�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.94 477.15 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.73 477.15 Td (current ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.17 477.15 Td (worth. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.40 477.15 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.77 477.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 464.55 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.53 464.55 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.28 464.55 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.53 464.55 Td (Royce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.98 464.55 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.50 464.55 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.63 464.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.92 464.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.21 464.55 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.57 464.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.94 464.55 Td ($16.6 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.19 464.55 Td (billion.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 439.35 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.21 439.35 Td (rustPermal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.38 439.35 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.06 439.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.40 439.35 Td (leading ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.98 439.35 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.90 439.35 Td (alternative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.89 439.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.98 439.35 Td (manager ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.80 439.35 Td (specializing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.63 439.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.47 439.35 Td (providing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.98 439.35 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.74 439.35 Td (solutions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.34 439.35 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (public, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.60 426.75 Td (corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.46 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.85 426.75 Td (multi-employer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.39 426.75 Td (pension ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.28 426.75 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.47 426.75 Td (foundations, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.90 426.75 Td (endowments, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.82 426.75 Td (sovereign ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.87 426.75 Td (wealth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.08 426.75 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.27 426.75 Td (insurance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (companies, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.81 414.15 Td (private ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.74 414.15 Td (banks, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.65 414.15 Td (family ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.84 414.15 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.40 414.15 Td (fices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.00 414.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.94 414.15 Td (high ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.39 414.15 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.00 414.15 Td (worth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.28 414.15 Td (individuals. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.35 414.15 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.06 414.15 Td (rustPermal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.33 414.15 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.11 414.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.97 414.15 Td (teams ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.24 414.15 Td (located ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.34 414.15 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 401.55 Td (London, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.75 401.55 Td (New ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.10 401.55 Td (Y) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.63 401.55 Td (ork ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.59 401.55 Td (City ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.65 401.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.77 401.55 Td (Paris ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.73 401.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.86 401.55 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.81 401.55 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.37 401.55 Td (fices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.16 401.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.29 401.55 Td (Dubai, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.54 401.55 Td (Hong ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.83 401.55 Td (Kong, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.75 401.55 Td (Singapore ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.29 401.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.42 401.55 Td (Nassau. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.68 401.55 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.31 401.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.02 401.55 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.39 401.55 Td (31, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 388.95 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.75 388.95 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.46 388.95 Td (rustPermal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.58 388.95 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.10 388.95 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.22 388.95 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.52 388.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.80 388.95 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.17 388.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.54 388.95 Td ($ ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.41 388.95 Td (16.3 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.41 388.95 Td (billion.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 363.75 Td (QS ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.35 363.75 Td (Investors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.27 363.75 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.70 363.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.79 363.75 Td (customized ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.04 363.75 Td (solutions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.39 363.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.98 363.75 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.66 363.75 Td (quantitative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.65 363.75 Td (equities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.74 363.75 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.25 363.75 Td (firm ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.75 363.75 Td (providing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.01 363.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.85 363.75 Td (management ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.33 351.15 Td (advisory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.16 351.15 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.65 351.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.48 351.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.81 351.15 Td (diverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.80 351.15 Td (array ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.04 351.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.45 351.15 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.29 351.15 Td (clients. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.00 351.15 Td (Headquartered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.46 351.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.30 351.15 Td (New ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.55 351.15 Td (Y) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.08 351.15 Td (ork ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.74 351.15 Td (City) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.15 351.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.44 351.15 Td (QS ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.54 351.15 Td (Investors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.70 351.15 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.36 351.15 Td (developed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.55 Td (approaches ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.62 338.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.67 338.55 Td (integrating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.05 338.55 Td (quantitative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.51 338.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.56 338.55 Td (behavioral ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.77 338.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.73 338.55 Td (insights ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.30 338.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.35 338.55 Td (dynamically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.14 338.55 Td (weighting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.03 338.55 Td (opportunities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.33 338.55 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 325.95 Td (response ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.70 325.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.33 325.95 Td (changing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.28 325.95 Td (conditions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.48 325.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.11 325.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.40 325.95 Td (economy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.35 325.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.97 325.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.25 325.95 Td (market. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.49 325.95 Td (QS ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.37 325.95 Td (Investors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.33 325.95 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.89 325.95 Td (fers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.08 325.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.21 325.95 Td (broad ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.57 325.95 Td (spectrum ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.52 325.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.73 325.95 Td (strategies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.84 325.95 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.35 Td (includes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.42 313.35 Td (actively ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.59 313.35 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.42 313.35 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.02 313.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.11 313.35 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.62 313.35 Td (equities, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.83 313.35 Td (Liquid ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.34 313.35 Td (Alternatives, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.21 313.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.30 313.35 Td (Customized ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.40 313.35 Td (Solutions. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.20 313.35 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.80 313.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.48 313.35 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.81 313.35 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.87 313.35 Td (2018, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (QS ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.55 300.75 Td (Investors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.67 300.75 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.19 300.75 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.46 300.75 Td ($13.9 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.71 300.75 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.76 300.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.55 300.75 Td (AUM.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 275.55 Td (RARE ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.08 275.55 Td (Infrastructure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.79 275.55 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.37 275.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.60 275.55 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.42 275.55 Td (listed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.74 275.55 Td (infrastructure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.87 275.55 Td (investing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.95 275.55 Td (specialist ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.59 275.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.91 275.55 Td (manages ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.22 275.55 Td (domestic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.71 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.44 275.55 Td (international ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.18 262.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.69 262.95 Td (three ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.03 262.95 Td (distinct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.29 262.95 Td (strategies; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.21 262.95 Td (RARE ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.56 262.95 Td (Infrastructure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.80 262.95 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.22 262.95 Td (alue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.05 262.95 Td (\(a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.56 262.95 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.15 262.95 Td (strategy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.74 262.95 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.75 262.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.76 262.95 Td (mix ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.44 262.95 Td (between ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.77 262.95 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.02 262.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.53 262.95 Td (capital ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 250.35 Td (returns\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.48 250.35 Td (RARE ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.19 250.35 Td (Emer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.74 250.35 Td (ging ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.11 250.35 Td (Market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.14 250.35 Td (\(purely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.17 250.35 Td (focused ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.52 250.35 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.73 250.35 Td (emer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.53 250.35 Td (ging ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.90 250.35 Td (markets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.84 250.35 Td (infrastructure\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.60 250.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.46 250.35 Td (RARE ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.17 250.35 Td (Infrastructure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.01 250.35 Td (Income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.75 Td (\(a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.57 237.75 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.72 237.75 Td (strategy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.87 237.75 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.45 237.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.02 237.75 Td (focus ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.67 237.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.08 237.75 Td (distributing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.41 237.75 Td (yield\). ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.44 237.75 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.92 237.75 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.42 237.75 Td (holds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.08 237.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.65 237.75 Td (75% ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.81 237.75 Td (ownership ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.46 237.75 Td (interest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.28 237.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.35 237.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.09 237.75 Td (firm, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.70 237.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.44 237.75 Td (firm's ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.48 225.15 Td (team ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.23 225.15 Td (holds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.32 225.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.32 225.15 Td (15% ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.91 225.15 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.49 225.15 Td (stake ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.41 225.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.90 225.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.90 225.15 Td (third-party ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.15 225.15 Td (owner ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.73 225.15 Td (holds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.82 225.15 Td (10%. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.03 225.15 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.37 225.15 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.71 225.15 Td (Headquartered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.84 225.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.35 225.15 Td (Sydney) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.17 225.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.39 225.15 Td (Australia, ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.89 212.55 Td (had ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.68 212.55 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.95 212.55 Td ($4.2 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.95 212.55 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.99 212.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.21 212.55 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.33 212.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.71 212.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.08 212.55 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.11 212.55 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.86 212.55 Td (2018.) Tj ET Q
BT /F3 10.50 Tf ET
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BT /F4 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.09 136.95 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.01 136.95 Td (mutual ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.02 136.95 Td (primarily ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.78 136.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.78 136.95 Td (two ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.78 136.95 Td (groups ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.62 136.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.63 136.95 Td (proprietary ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.69 136.95 Td (\(the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.27 136.95 Td (�Legg ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.82 124.35 Td (Funds"\). ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.40 99.15 Td (-cap ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.08 99.15 Td (using ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.81 99.15 Td (approach.) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.04 729.15 Td (lar) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.92 729.15 Td (ge- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.30 729.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.43 729.15 Td (mid-cap ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.80 729.15 Td (growth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.52 729.15 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.82 729.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.95 729.15 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.98 729.15 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.77 729.15 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.06 729.15 Td (fixed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.60 729.15 Td (income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 716.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.54 716.55 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.00 716.55 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.04 716.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.25 716.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.29 716.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.99 716.55 Td (closed-end ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.35 716.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.56 716.55 Td (within ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.27 716.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.98 716.55 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.43 716.55 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.89 716.55 Td (Funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.44 716.55 Td (include ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.22 716.55 Td (58 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.60 716.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.81 716.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.43 716.55 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.99 716.55 Td (fer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.52 716.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.06 716.55 Td (wide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.34 716.55 Td (variety ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 703.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.19 703.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.20 703.95 Td (strategies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.79 703.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.89 703.95 Td (objectives, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.03 703.95 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.63 703.95 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.48 703.95 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.37 703.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.39 703.95 Td (grade ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.65 703.95 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.92 703.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.02 703.95 Td (municipal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.95 703.95 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.54 703.95 Td (funds. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 691.35 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 63.63 691.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.83 691.35 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.70 691.35 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.28 691.35 Td (2018 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.74 691.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.36 691.35 Td (2017, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.45 691.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.73 691.35 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.77 691.35 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.81 691.35 Td (Funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.95 691.35 Td (included ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.56 691.35 Td ($149.1 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.90 691.35 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.78 691.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.40 691.35 Td ($147.1 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.73 691.35 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.61 691.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.24 691.35 Td (assets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.82 691.35 Td (respectively) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 554.87 691.35 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 678.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.02 678.75 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.62 678.75 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.14 678.75 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.82 678.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.34 678.75 Td (closed-end ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.18 678.75 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.49 678.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.59 678.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.60 678.75 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.61 678.75 Td (38% ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.21 678.75 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.56 678.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.08 678.75 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.43 678.75 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.79 678.75 Td (37%, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.01 678.75 Td (respectively) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.06 678.75 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.04 678.75 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.79 678.75 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.40 678.75 Td (assets, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 666.15 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.36 666.15 Td (45% ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.83 666.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.20 666.15 Td (40%, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.29 666.15 Td (respectively) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.34 666.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.18 666.15 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.80 666.15 Td (fixed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.59 666.15 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.71 666.15 Td (assets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.05 666.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.43 666.15 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.29 666.15 Td (17% ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.75 666.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.13 666.15 Td (23%, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.22 666.15 Td (respectively) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.27 666.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.11 666.15 Td (were ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 653.55 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.51 653.55 Td (assets. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.53 653.55 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.62 653.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.79 653.55 Td (both ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.89 653.55 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.71 653.55 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.27 653.55 Td (2018 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.69 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.28 653.55 Td (2017, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.33 653.55 Td (less ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.50 653.55 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.01 653.55 Td (1% ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.43 653.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.60 653.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.85 653.55 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.78 653.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.37 653.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.62 653.55 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.62 653.55 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.63 653.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.39 653.55 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.22 653.55 Td (alternative ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (assets.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 615.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.68 615.75 Td (Royce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.35 615.75 Td (Funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.88 615.75 Td (consist ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.90 615.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.50 615.75 Td (17 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.85 615.75 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.87 615.75 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.05 615.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.07 615.75 Td (three ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.90 615.75 Td (closed-end ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.24 615.75 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.05 615.75 Td (most ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.32 615.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.92 615.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.43 615.75 Td (invest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.37 615.75 Td (primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.29 615.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.31 615.75 Td (smaller) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 554.01 615.75 Td (- ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.15 Td (cap ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.83 603.15 Td (company ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.07 603.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.57 603.15 Td (micro-cap ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.89 603.15 Td (company ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.13 603.15 Td (stocks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.14 603.15 Td (using ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.65 603.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.07 603.15 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.56 603.15 Td (approach. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.30 603.15 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.38 603.15 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.46 603.15 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.94 603.15 Td (fer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.35 603.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.27 603.15 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.27 603.15 Td (approach ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.50 603.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.43 603.15 Td (investing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.68 603.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.61 603.15 Td (smaller ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 590.55 Td (companies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.43 590.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.61 590.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.47 590.55 Td (universe ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.06 590.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.83 590.55 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.51 590.55 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.95 590.55 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.64 590.55 Td (they ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.74 590.55 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.33 590.55 Td (select. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.22 590.55 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.91 590.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.69 590.55 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.12 590.55 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.27 590.55 Td (2018 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.29 590.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.48 590.55 Td (2017, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.13 590.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.98 590.55 Td (Royce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.83 590.55 Td (Funds ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 577.95 Td (included ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.71 577.95 Td ($13.8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.39 577.95 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.87 577.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.08 577.95 Td ($15.4 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.77 577.95 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.24 577.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.46 577.95 Td (assets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.64 577.95 Td (respectively) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.69 577.95 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.37 577.95 Td (substantially ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.51 577.95 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.06 577.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.86 577.95 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.58 577.95 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.03 577.95 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.33 577.95 Td (assets. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.29 577.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.67 577.95 Td (Royce ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (Funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.10 565.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.84 565.35 Td (distributed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.67 565.35 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.26 565.35 Td (non-af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.48 565.35 Td (filiated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.14 565.35 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.30 565.35 Td (supermarkets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.83 565.35 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.33 565.35 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.84 565.35 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.34 565.35 Td (Distribution, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.64 565.35 Td (non-af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.85 565.35 Td (filiated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.51 565.35 Td (wrap ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (programs, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.39 552.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.15 552.75 Td (direct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.66 552.75 Td (distribution. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.31 552.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.66 552.75 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.31 552.75 Td (two ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.66 552.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.01 552.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.45 552.75 Td (portfolios ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.88 552.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.66 552.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.09 552.75 Td (Royce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.52 552.75 Td (Funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.80 552.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.22 552.75 Td (distributed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.74 552.75 Td (only ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.01 552.75 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.28 552.75 Td (insurance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (companies.) Tj ET Q
BT /F4 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 514.95 Td (Exchange T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.78 514.95 Td (raded Funds    ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 489.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.02 489.75 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.79 489.75 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.56 489.75 Td (ETFs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.51 489.75 Td (invest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.78 489.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.14 489.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.00 489.75 Td (wide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.60 489.75 Td (range ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.11 489.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.05 489.75 Td (domestic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.15 489.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.51 489.75 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.77 489.75 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.21 489.75 Td (securities. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.97 489.75 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.83 489.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.77 489.75 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.37 489.75 Td (31, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.15 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.52 477.15 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.48 477.15 Td (Mason�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.98 477.15 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.46 477.15 Td (ETF ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.52 477.15 Td (lineup ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.15 477.15 Td (consisted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.62 477.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.76 477.15 Td (13 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.65 477.15 Td (ETFs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.80 477.15 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.85 477.15 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.16 477.15 Td (aggregate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.83 477.15 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.72 477.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.86 477.15 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.90 477.15 Td ($815 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.29 477.15 Td (million. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.64 477.15 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.03 477.15 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.75 477.15 Td (ETFs ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 464.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.40 464.55 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.39 464.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.98 464.55 Td (ClearBridge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.38 464.55 Td (Investments, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.83 464.55 Td (Martin ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.50 464.55 Td (Currie, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.04 464.55 Td (QS ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.54 464.55 Td (Investors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.75 464.55 Td (RARE ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.84 464.55 Td (Infrastructure, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.69 464.55 Td (Royce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.60 464.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.62 464.55 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.69 464.55 Td (estern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.17 464.55 Td (Asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 451.95 Td (Management. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.24 451.95 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.28 451.95 Td (fiscal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.32 451.95 Td (2019, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.24 451.95 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.11 451.95 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.00 451.95 Td (expects ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.78 451.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.24 451.95 Td (add ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.70 451.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.17 451.95 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.39 451.95 Td (ETF ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.35 451.95 Td (lineup ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.90 451.95 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.09 451.95 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.89 451.95 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.76 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.22 451.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.10 451.95 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.06 451.95 Td (filiated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.10 451.95 Td (asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (managers. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.42 439.35 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.27 439.35 Td (This ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.01 439.35 Td (lineup ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.32 439.35 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.72 439.35 Td (include ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.70 439.35 Td (ETFs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.52 439.35 Td (utilizing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.58 439.35 Td (both ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.32 439.35 Td (passive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.30 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.52 439.35 Td (active ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.66 439.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.37 439.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.61 439.35 Td (invest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.76 439.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.99 439.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.72 439.35 Td (wide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.20 439.35 Td (spectrum ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.75 439.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.84 426.75 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.59 426.75 Td (utilizing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.68 426.75 Td (numerous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.19 426.75 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.36 426.75 Td (styles, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.00 426.75 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.76 426.75 Td (broad ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.76 426.75 Td (fixed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.43 426.75 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.43 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.69 426.75 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.03 426.75 Td (exposure, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.65 426.75 Td (factor) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.72 426.75 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.44 426.75 Td (sector ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (exposure, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.65 414.15 Td (fixed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.85 414.15 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.39 414.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.17 414.15 Td (traditional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.95 414.15 Td (security ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.82 414.15 Td (selection.) Tj ET Q
BT /F4 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 388.95 Td (Private Funds) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 363.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.93 363.75 Td (addition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.03 363.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.89 363.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.57 363.75 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.93 363.75 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.78 363.75 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.80 363.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.65 363.75 Td (ETFs, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.71 363.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.39 363.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.49 363.75 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.41 363.75 Td (sponsor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.77 363.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.61 363.75 Td (manage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.95 363.75 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.55 363.75 Td (unregistered, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.76 363.75 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (�private� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.34 351.15 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.05 351.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.16 351.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.35 351.15 Td (made ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.46 351.15 Td (available ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.73 351.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.26 351.15 Td (qualified ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.95 351.15 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.00 351.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.11 351.15 Td (non-U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.40 351.15 Td (investors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.31 351.15 Td (depending ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.42 351.15 Td (upon ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.79 351.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.99 351.15 Td (product. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.06 351.15 Td (Private ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.17 351.15 Td (funds ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.16 338.55 Td (pooled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.59 338.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.51 338.55 Td (vehicles ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.76 338.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.36 338.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.02 338.55 Td (exempt ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.77 338.55 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.03 338.55 Td (local ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.28 338.55 Td (regulation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.70 338.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.71 338.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.30 338.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.96 338.55 Td (typically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.55 338.55 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.11 338.55 Td (fered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.52 338.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.54 338.55 Td (sophisticated, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.83 338.55 Td (high ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 325.95 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.95 325.95 Td (worth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.08 325.95 Td (investors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.24 325.95 Td (corporations, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.98 325.95 Td (sovereign ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.43 325.95 Td (wealth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.04 325.95 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.63 325.95 Td (public ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.50 325.95 Td (pension ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.79 325.95 Td (plans ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.58 325.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.37 325.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.57 325.95 Td (pooled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.77 325.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.47 325.95 Td (vehicles. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.35 Td (Clarion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.96 313.35 Td (Partners ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.33 313.35 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.89 313.35 Td (fers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.59 313.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.22 313.35 Td (broad ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.09 313.35 Td (range ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.37 313.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.08 313.35 Td (privately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.36 313.35 Td (placed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.72 313.35 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.02 313.35 Td (invested ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.98 313.35 Td (primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.01 313.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.14 313.35 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.35 313.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.48 313.35 Td (debt ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.52 313.35 Td (instruments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.48 313.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.19 313.35 Td (five ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (major ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.70 300.75 Td (real ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.14 300.75 Td (estate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.74 300.75 Td (property ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.02 300.75 Td (types. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.51 300.75 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.22 300.75 Td (rustPermal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.42 300.75 Td (sponsors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.88 300.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.75 300.75 Td (manages ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.19 300.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.55 300.75 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.33 300.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.78 300.75 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.16 300.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.03 300.75 Td (non-U.S.-or) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.00 300.75 Td (ganized ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.35 300.75 Td (private ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.15 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.19 288.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.30 288.15 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.85 288.15 Td (fer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.87 288.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.89 288.15 Td (wide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.66 288.15 Td (range ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.34 288.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.44 288.15 Td (alternative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.11 288.15 Td (strategies. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.75 288.15 Td (Brandywine ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.43 288.15 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.37 288.15 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.38 288.15 Td (Management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.18 288.15 Td (ClearBridge ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (Investments, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.32 275.55 Td (Martin ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.35 275.55 Td (Currie, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.25 275.55 Td (QS ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.13 275.55 Td (Investors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.70 275.55 Td (RARE ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.16 275.55 Td (Infrastructure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.74 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.18 275.55 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.25 275.55 Td (estern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.23 275.55 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.02 275.55 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.38 275.55 Td (sponsor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.51 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.12 275.55 Td (manage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.22 275.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.33 275.55 Td (wide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.20 275.55 Td (range ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.87 262.95 Td (private ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.65 262.95 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.52 262.95 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.08 262.95 Td (ferings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.86 262.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.73 262.95 Td (qualifying ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.51 262.95 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.81 262.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.60 262.95 Td (non-U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.14 262.95 Td (investors.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 237.75 Td (International Funds) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 212.55 Td (Outside ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.88 212.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.42 212.55 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.70 212.55 Td (States, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.12 212.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.08 212.55 Td (manage, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.06 212.55 Td (support ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.27 212.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.15 212.55 Td (distribute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.52 212.55 Td (numerous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.64 212.55 Td (proprietary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.00 212.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.04 212.55 Td (across ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.00 212.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.37 212.55 Td (wide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.49 212.55 Td (array ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.76 212.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 199.95 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.38 199.95 Td (fixed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.59 199.95 Td (income, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.76 199.95 Td (liquidity) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.66 199.95 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.92 199.95 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.80 199.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.60 199.95 Td (alternative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.54 199.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.26 199.95 Td (strategies. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.17 199.95 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.14 199.95 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.84 199.95 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.81 199.95 Td (include ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.35 199.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.64 199.95 Td (broad ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.19 199.95 Td (range ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 187.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.08 187.35 Td (cross ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 187.35 Td (border ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.74 187.35 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.92 187.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.50 187.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.15 187.35 Td (domiciled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.98 187.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.99 187.35 Td (Ireland ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.56 187.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.56 187.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.21 187.35 Td (sold ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.55 187.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.56 187.35 Td (countries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.89 187.35 Td (across ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.34 187.35 Td (Asia, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.05 187.35 Td (Europe ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.21 187.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.21 187.35 Td (Latin ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.58 187.35 Td (America. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.19 187.35 Td (Our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 174.75 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.45 174.75 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.66 174.75 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.45 174.75 Td (include ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.24 174.75 Td (local ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.53 174.75 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.65 174.75 Td (ranges ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.94 174.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.57 174.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.26 174.75 Td (domiciled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.14 174.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.18 174.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.89 174.75 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.35 174.75 Td (Kingdom, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.11 174.75 Td (Australia, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.10 174.75 Td (Japan ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.89 174.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.93 174.75 Td (Singapore ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 162.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.67 162.15 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.23 162.15 Td (fered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.80 162.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.98 162.15 Td (investors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.91 162.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.09 162.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.92 162.15 Td (country ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.01 162.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.77 162.15 Td (domicile. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.14 162.15 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.48 162.15 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.56 162.15 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.91 162.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.73 162.15 Td (distributed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.66 162.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.83 162.15 Td (serviced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.82 162.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.33 162.15 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.92 162.15 Td (Mason ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 149.55 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.34 149.55 Td (Distribution, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.99 149.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.00 149.55 Td (discussed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.51 149.55 Td (below) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.49 149.55 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.38 149.55 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.97 149.55 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.30 149.55 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.53 149.55 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.45 149.55 Td (include ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.62 149.55 Td (equity) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.19 149.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.08 149.55 Td (fixed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.92 149.55 Td (income, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.71 149.55 Td (alternative, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.91 149.55 Td (liquidity ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 136.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.56 136.95 Td (balanced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.77 136.95 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.00 136.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.72 136.95 Td (primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.69 136.95 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.49 136.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.14 136.95 Td (sub-advised ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.19 136.95 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.59 136.95 Td (Brandywine ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.82 136.95 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.29 136.95 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.85 136.95 Td (Management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.19 136.95 Td (ClearBridge ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 124.35 Td (Investments, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.56 124.35 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.27 124.35 Td (rustPermal, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.09 124.35 Td (QS ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.21 124.35 Td (Investors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.02 124.35 Td (Martin ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.30 124.35 Td (Currie, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.45 124.35 Td (RARE ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.15 124.35 Td (Infrastructure, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.60 124.35 Td (Royce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.13 124.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.79 124.35 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.86 124.35 Td (estern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.03 124.35 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.06 124.35 Td (Management. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 111.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.57 111.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.72 111.75 Td (aggregate, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.47 111.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.04 111.75 Td (sponsored ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.94 111.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.42 111.75 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.64 111.75 Td (202 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.71 111.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.19 111.75 Td (201 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.26 111.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.33 111.75 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.23 111.75 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.62 111.75 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.89 111.75 Td (respectively ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.94 111.75 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.84 111.75 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.57 111.75 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.02 111.75 Td (2018 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.34 111.75 Td (and ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.85 99.15 Td (dates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.75 99.15 Td (had ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.70 99.15 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.68 99.15 Td ($86.8 ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.12 99.15 Td ($95.0 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.08 99.15 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.83 99.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.33 99.15 Td (assets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.78 99.15 Td (respectively) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.83 99.15 Td (, ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.75 86.55 Td (24% ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.61 86.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.37 86.55 Td (22%, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.85 86.55 Td (respectively) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.90 86.55 Td (, ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.99 86.55 Td (assets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.72 86.55 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.97 86.55 Td (36% ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.59 86.55 Td (25%, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.07 86.55 Td (respectively ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.18 73.95 Td (, ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.55 73.95 Td (50%, ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F3 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.73 653.55 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.47 653.55 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.35 653.55 Td (ge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.94 653.55 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.52 653.55 Td (all-inclusive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.10 653.55 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.60 653.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.02 653.55 Td (covers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.10 653.55 Td (asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.54 640.95 Td (trade ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.30 640.95 Td (execution, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.52 640.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.70 640.95 Td (allocation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.88 640.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.81 640.95 Td (custodial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.49 640.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.43 640.95 Td (administrative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.27 640.95 Td (services. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.07 640.95 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.14 640.95 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.57 640.95 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.42 640.95 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.82 628.35 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.31 628.35 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.65 628.35 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.89 628.35 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.64 628.35 Td (140 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.06 628.35 Td (retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.31 628.35 Td (separately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.54 628.35 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.11 628.35 Td (account ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.43 628.35 Td (programs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.76 628.35 Td (sponsored ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.02 628.35 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.19 628.35 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.77 628.35 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.75 Td (institutions.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 590.55 Td (Distribution) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 565.35 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.90 565.35 Td (centralized ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.03 565.35 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.34 565.35 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.83 565.35 Td (group, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.03 565.35 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.67 565.35 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.33 565.35 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.98 565.35 Td (Distribution, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.43 565.35 Td (operates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.48 565.35 Td (two ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.31 565.35 Td (divisions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.93 565.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.83 565.35 Td (U.S. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.09 552.75 Td (Group ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.76 552.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.77 552.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.44 552.75 Td (International ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.92 552.75 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.52 552.75 Td (Group. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.68 552.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.84 552.75 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.36 552.75 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.95 552.75 Td (Group ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.62 552.75 Td (markets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.33 552.75 Td (distributes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.92 552.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.92 552.75 Td (supports ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.97 540.15 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.11 540.15 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.74 540.15 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.17 540.15 Td (ETFs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.39 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.02 540.15 Td (retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.06 540.15 Td (separately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.09 540.15 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.45 540.15 Td (account ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.57 540.15 Td (programs. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.22 540.15 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.01 540.15 Td (International ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.13 540.15 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.35 540.15 Td (Group ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.65 540.15 Td (markets, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (distributes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.14 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.19 527.55 Td (supports ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.67 527.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.55 527.55 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.51 527.55 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.35 527.55 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.99 527.55 Td (general, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.40 527.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.28 527.55 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.85 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.90 527.55 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.85 527.55 Td (sales ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.15 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.20 527.55 Td (marketing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.66 527.55 Td (teams ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.04 527.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.75 527.55 Td (housed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.29 514.95 Td (separate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.31 514.95 Td (subsidiaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.52 514.95 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.55 514.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.17 514.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.21 514.95 Td (managers.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 489.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.71 489.75 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.21 489.75 Td (each ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.90 489.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.11 489.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.57 489.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.44 489.75 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.14 489.75 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.60 489.75 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.98 489.75 Td (own ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.52 489.75 Td (sales ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.40 489.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.02 489.75 Td (marketing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.05 489.75 Td (teams ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.01 489.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.21 489.75 Td (distribute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.34 489.75 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.72 489.75 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.35 489.75 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.15 Td (services, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.47 477.15 Td (primarily) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.86 477.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.01 477.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.70 477.15 Td (most ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.64 477.15 Td (cases, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.94 477.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.63 477.15 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.33 477.15 Td (investors. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.28 477.15 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.13 477.15 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.82 477.15 Td (sales ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.75 477.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.44 477.15 Td (marketing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.53 477.15 Td (teams ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.55 477.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.82 477.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.34 477.15 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.27 477.15 Td (managers ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 464.55 Td (distribute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.09 464.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.44 464.55 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.01 464.55 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.76 464.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.86 464.55 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.53 464.55 Td (clients, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.50 464.55 Td (both ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.10 464.55 Td (directly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.10 464.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.19 464.55 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.79 464.55 Td (consultants. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.59 464.55 Td (Consultants ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.11 464.55 Td (play ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.12 464.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.71 464.55 Td (lar) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.60 464.55 Td (ge ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 451.95 Td (role ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.41 451.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.17 451.95 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.93 451.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.93 451.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.17 451.95 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.25 451.95 Td (helping ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.34 451.95 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.34 451.95 Td (select ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.83 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.58 451.95 Td (retain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.07 451.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.07 451.95 Td (managers. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.52 451.95 Td (Institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.86 451.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.86 451.95 Td (management ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.54 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.32 439.35 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.19 439.35 Td (consultants ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.06 439.35 Td (tend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.76 439.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.56 439.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.09 439.35 Td (highly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.55 439.35 Td (sophisticated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.00 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.79 439.35 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.49 439.35 Td (performance-driven.) Tj ET Q
BT /F4 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 414.15 Td (U.S. Distribution) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 388.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.55 388.95 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.95 388.95 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.43 388.95 Td (Group ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.98 388.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.45 388.95 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.75 388.95 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.06 388.95 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.36 388.95 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.84 388.95 Td (employs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.15 388.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.54 388.95 Td (team ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.67 388.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.14 388.95 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.54 388.95 Td (based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.17 388.95 Td (sales, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.93 388.95 Td (marketing ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.47 376.35 Td (support ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.79 376.35 Td (staf) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.76 376.35 Td (f ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.07 376.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.63 376.35 Td (market, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.22 376.35 Td (distribute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.70 376.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.67 376.35 Td (support ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.99 376.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.80 376.35 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.28 376.35 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.26 376.35 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.03 376.35 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.51 376.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.15 376.35 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.54 376.35 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.93 376.35 Td (Funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.05 376.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.69 376.35 Td (Royce ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.75 Td (Funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.31 363.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.65 363.75 Td (Clarion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.65 363.75 Td (Funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.84 363.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.51 363.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.85 363.75 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.93 363.75 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.03 363.75 Td (ETFs. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.73 363.75 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.80 363.75 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.97 363.75 Td (distribute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.15 363.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.49 363.75 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.57 363.75 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.66 363.75 Td (Funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.85 363.75 Td (directly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.43 363.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.10 363.75 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.27 363.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.44 363.75 Td (number ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.87 351.15 Td (third-party ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.40 351.15 Td (distributors.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 325.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.89 325.95 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.64 325.95 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.46 325.95 Td (Group ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.36 325.95 Td (distributes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.17 325.95 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.41 325.95 Td (share ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.64 325.95 Td (classes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.86 325.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.68 325.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.58 325.95 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.22 325.95 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.87 325.95 Td (Funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.62 325.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.85 325.95 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.09 325.95 Td (clients ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.99 313.35 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.23 313.35 Td (distributes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.30 313.35 Td (variable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.44 313.35 Td (annuity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.26 313.35 Td (sub-advisory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.83 313.35 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.97 313.35 Td (provided ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.62 313.35 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.45 313.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.77 313.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.51 313.35 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.06 313.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.56 313.35 Td (insurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.12 313.35 Td (companies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.34 313.35 Td (\(including ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (advisory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.79 300.75 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.74 300.75 Td (provided ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.20 300.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.50 300.75 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.19 300.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.07 300.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.03 300.75 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.74 300.75 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.45 300.75 Td (Funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.26 300.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.14 300.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.08 300.75 Td (specifically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.61 300.75 Td (designed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.07 300.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.44 300.75 Td (purchase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.89 300.75 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.68 300.75 Td (variable ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.15 Td (annuity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.94 288.15 Td (contracts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.79 288.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.90 288.15 Td (variable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.65 288.15 Td (life ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.59 288.15 Td (insurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.77 288.15 Td (policies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.38 288.15 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.94 288.15 Td (fered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.45 288.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.89 288.15 Td (participating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.90 288.15 Td (insurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.08 288.15 Td (companies\). ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.05 288.15 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.33 288.15 Td (institutional ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.84 275.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.92 275.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.49 275.55 Td (primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.31 275.55 Td (distributed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.98 275.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.03 275.55 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.10 275.55 Td (estern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.32 275.55 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.40 275.55 Td (Management's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.94 275.55 Td (sales ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.10 275.55 Td (team. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.69 275.55 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.76 275.55 Td (Royce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.34 275.55 Td (Funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.77 275.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.33 275.55 Td (distributed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.00 275.55 Td (by ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (Royce�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.24 262.95 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.95 262.95 Td (sales ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.99 262.95 Td (team ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.02 262.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.81 262.95 Td (addition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.85 262.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.64 262.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.10 262.95 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.40 262.95 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.77 262.95 Td (Group.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 237.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.72 237.75 Td (addition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.60 237.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.24 237.75 Td (distributing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.13 237.75 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.55 237.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.85 237.75 Td (wholesalers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.89 237.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.53 237.75 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.57 237.75 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.63 237.75 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.67 237.75 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.90 237.75 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.28 237.75 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.90 237.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.53 237.75 Td (support ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.50 237.75 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.15 Td (retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.00 225.15 Td (separately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.50 225.15 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.33 225.15 Td (account ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.91 225.15 Td (program ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.41 225.15 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.17 225.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.26 225.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.02 225.15 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.53 225.15 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.04 225.15 Td (ETFs. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.07 225.15 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.08 225.15 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.83 225.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.58 225.15 Td (provided ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.83 225.15 Td (through ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 212.55 Td (programs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.78 212.55 Td (sponsored ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.99 212.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.11 212.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.40 212.55 Td (variety ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.18 212.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.55 212.55 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.90 212.55 Td (institutions.) Tj ET Q
BT /F4 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 187.35 Td (International Distribution) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 162.15 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.23 162.15 Td (International ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.28 162.15 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.43 162.15 Td (Group ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.67 162.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.82 162.15 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.79 162.15 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.78 162.15 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.76 162.15 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.92 162.15 Td (employs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.90 162.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.97 162.15 Td (team ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.78 162.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.93 162.15 Td (sales, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.37 162.15 Td (marketing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.34 162.15 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 149.55 Td (support ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.75 149.55 Td (staf) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.73 149.55 Td (f ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.98 149.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.47 149.55 Td (markets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.09 149.55 Td (distributes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.60 149.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.51 149.55 Td (supports ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.85 149.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.60 149.55 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.42 149.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.51 149.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.43 149.55 Td (individual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.76 149.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.67 149.55 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.60 149.55 Td (investors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.27 149.55 Td (across ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 136.95 Td (Asia ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.50 136.95 Td (\(including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.58 136.95 Td (Australia ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.81 136.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.72 136.95 Td (Japan\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.50 136.95 Td (Europe ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.57 136.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.48 136.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.23 136.95 Td (Americas. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.56 136.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.64 136.95 Td (International ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.03 136.95 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.53 136.95 Td (Group ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.11 136.95 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.85 136.95 Td (sales ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.01 136.95 Td (teams ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 124.35 Td (operating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.04 124.35 Td (out ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.35 124.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.99 124.35 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.30 124.35 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.86 124.35 Td (fices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.57 124.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.63 124.35 Td (16 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.02 124.35 Td (cities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.07 124.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.13 124.35 Td (13 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.52 124.35 Td (countries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.90 124.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.95 124.35 Td (distributing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.26 124.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.15 124.35 Td (cross ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.62 124.35 Td (border ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.91 124.35 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.87 124.35 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.09 124.35 Td (globally ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 111.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.12 111.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.58 111.75 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.10 111.75 Td (local ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.97 111.75 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.67 111.75 Td (ranges ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.54 111.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.16 111.75 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.87 111.75 Td (respective ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.89 111.75 Td (countries. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.28 111.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.07 111.75 Td (goal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.60 111.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.81 111.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.27 111.75 Td (International ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.37 111.75 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.58 111.75 Td (Group ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 539.87 111.75 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.34 111.75 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 99.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 62.14 99.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 69.53 99.15 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.51 99.15 Td (partner ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.97 99.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.94 99.15 Td (firms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.84 99.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.31 99.15 Td (utilize ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.28 99.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.76 99.15 Td (distribute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.15 99.15 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.29 99.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.67 99.15 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.56 99.15 Td (around ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.45 99.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.01 99.15 Td (world, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.86 99.15 Td (but ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.01 99.15 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.65 99.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.55 99.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.19 99.15 Td (viewed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 86.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.17 86.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.75 86.55 Td (local ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.08 86.55 Td (partner ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.74 86.55 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.32 86.55 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.16 86.55 Td (understanding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.57 86.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.24 86.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.99 86.55 Td (nuances ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.73 86.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.81 86.55 Td (needs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.65 86.55 Td (of ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.45 653.55 Td (companies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.77 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.36 653.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.36 653.55 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.20 653.55 Td (partners. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.89 653.55 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.64 653.55 Td (extent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.72 653.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.31 653.55 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.40 653.55 Td (each ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.06 653.55 Td (channel ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.13 653.55 Td (takes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.13 653.55 Td (precedence ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.76 653.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.35 653.55 Td (any ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.29 640.95 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.06 640.95 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.69 640.95 Td (governed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.39 640.95 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.51 640.95 Td (local ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.54 640.95 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.32 640.95 Td (dynamics.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 615.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.99 615.75 Td (Australia, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.35 615.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.59 615.75 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.25 615.75 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.23 615.75 Td (distribute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.14 615.75 Td (local ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.78 615.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.19 615.75 Td (cross ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.01 615.75 Td (border ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.65 615.75 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.23 615.75 Td (sub-advised ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.63 615.75 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.37 615.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.61 615.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.26 615.75 Td (managers ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.15 Td (primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.62 603.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.83 603.15 Td (retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.45 603.15 Td (investors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.04 603.15 Td (pension ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.75 603.15 Td (plans, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.58 603.15 Td (fund-of-funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.95 603.15 Td (managers, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.85 603.15 Td (insurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.13 603.15 Td (companies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.08 603.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.28 603.15 Td (government ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.48 603.15 Td (funds/agencies. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 590.55 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.45 590.55 Td (Japan, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.20 590.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.40 590.55 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.03 590.55 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.98 590.55 Td (distribute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.85 590.55 Td (domestic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.97 590.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.25 590.55 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.42 590.55 Td (cross ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.21 590.55 Td (border ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.82 590.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.36 590.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.73 590.55 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.10 590.55 Td (separate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 577.95 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.38 577.95 Td (primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.59 577.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.89 577.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.86 577.95 Td (retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.57 577.95 Td (market, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.49 577.95 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.29 577.95 Td (includes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.42 577.95 Td (retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.13 577.95 Td (banks, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.39 577.95 Td (private ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.68 577.95 Td (banks, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.94 577.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.50 577.95 Td (managers, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.49 577.95 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.96 577.95 Td (platforms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.35 577.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (insurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.36 565.35 Td (companies.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 540.15 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.21 540.15 Td (rustPermal's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.05 540.15 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.58 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.11 540.15 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.30 540.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.49 540.15 Td (sold ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.36 540.15 Td (outside ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.06 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.26 540.15 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.21 540.15 Td (States ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.66 540.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.20 540.15 Td (non-U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.49 540.15 Td (high ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.52 540.15 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.72 540.15 Td (worth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.59 540.15 Td (investors ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.70 527.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.89 527.55 Td (network ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.83 527.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.12 527.55 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.38 527.55 Td (intermediaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.97 527.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.01 527.55 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.72 527.55 Td (rustPermal's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.72 527.55 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.68 527.55 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.95 527.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.23 527.55 Td (well ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.85 527.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.13 527.55 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.33 527.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.86 527.55 Td (International ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.99 514.95 Td (Group. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.17 514.95 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.65 514.95 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.42 514.95 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.13 514.95 Td (rustPermal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.36 514.95 Td (distributes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.84 514.95 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.50 514.95 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.39 514.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.28 514.95 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.84 514.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.74 514.95 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.14 514.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.04 514.95 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.83 514.95 Td (institutions ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.79 502.35 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.50 502.35 Td (rustPermal's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.59 502.35 Td (internal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.29 502.35 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.34 502.35 Td (teams.) Tj ET Q
BT /F2 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.15 Td (Employees) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 451.95 Td (At ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.72 451.95 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.84 451.95 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.68 451.95 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.03 451.95 Td (2017 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.74 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.62 451.95 Td (2016, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.96 451.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.93 451.95 Td (had ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.80 451.95 Td (3,275, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.77 451.95 Td (3,338 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.12 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.99 451.95 Td (3,066 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.34 451.95 Td (employees, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.58 451.95 Td (respectively) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.63 451.95 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.97 451.95 Td (None ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.43 451.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.90 451.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.61 451.95 Td (employees ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.02 439.35 Td (covered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.95 439.35 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.15 439.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.51 439.35 Td (collective ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.02 439.35 Td (bar) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.24 439.35 Td (gaining ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.44 439.35 Td (agreement. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.36 439.35 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.43 439.35 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.80 439.35 Td (consider ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.07 439.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.77 439.35 Td (relations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.62 439.35 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.99 439.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.69 439.35 Td (employees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.29 439.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.16 439.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.77 439.35 Td (satisfactory) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.49 439.35 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.82 439.35 Td (However) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 554.88 439.35 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (competition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.81 426.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.20 426.75 Td (experienced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.06 426.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.62 426.75 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.42 426.75 Td (personnel ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.39 426.75 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.54 426.75 Td (intense ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.43 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.74 426.75 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.29 426.75 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.11 426.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.42 426.75 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.23 426.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.62 426.75 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.85 426.75 Td (experience ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.47 426.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.27 426.75 Td (loss ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.76 426.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (valuable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.69 414.15 Td (personnel. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.57 414.15 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.64 414.15 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.93 414.15 Td (recognize ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.36 414.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.81 414.15 Td (importance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.67 414.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.46 414.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.08 414.15 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.30 414.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.67 414.15 Td (hiring, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.00 414.15 Td (training ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.28 414.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.07 414.15 Td (retaining ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.02 414.15 Td (skilled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.64 414.15 Td (professionals.) Tj ET Q
BT /F2 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 388.95 Td (Competition) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 363.75 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 363.75 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.97 363.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.53 363.75 Td (engaged ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.25 363.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.15 363.75 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.80 363.75 Td (extremely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.52 363.75 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.83 363.75 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.16 363.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.06 363.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.62 363.75 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.10 363.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.01 363.75 Td (substantial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.66 363.75 Td (competition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.56 363.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.46 363.75 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.70 363.75 Td (aspects ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.76 363.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.36 351.15 Td (business. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.44 351.15 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.64 351.15 Td (competition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.66 351.15 Td (includes, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.15 351.15 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.68 351.15 Td (respect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.28 351.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.31 351.15 Td (one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.34 351.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.95 351.15 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.39 351.15 Td (aspects ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.58 351.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.19 351.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.06 351.15 Td (business, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.14 351.15 Td (numerous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.41 351.15 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.35 351.15 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.55 Td (domestic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.85 338.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.71 338.55 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.80 338.55 Td (firms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.41 338.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.01 338.55 Td (broker) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.21 338.55 Td (-dealers, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.51 338.55 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.11 338.55 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.80 338.55 Td (complexes, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.78 338.55 Td (hedge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.29 338.55 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.69 338.55 Td (commercial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.70 338.55 Td (banks, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.26 338.55 Td (insurance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 325.95 Td (companies, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.06 325.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.66 325.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.77 325.95 Td (companies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.71 325.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.90 325.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.50 325.95 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.26 325.95 Td (institutions. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.60 325.95 Td (Many ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.12 325.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.90 325.95 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.50 325.95 Td (or) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.06 325.95 Td (ganizations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.91 325.95 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.47 325.95 Td (fer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.15 325.95 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.35 325.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.35 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.85 313.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.13 313.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.48 313.35 Td (similar ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.17 313.35 Td (to, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.49 313.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.77 313.35 Td (compete ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.87 313.35 Td (with, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.69 313.35 Td (those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.39 313.35 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.17 313.35 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.72 313.35 Td (fer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.96 313.35 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.11 313.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.80 313.35 Td (many ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.66 313.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.94 313.35 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.05 313.35 Td (or) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.60 313.35 Td (ganizations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.96 313.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.31 313.35 Td (substantially ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.92 313.35 Td (more ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (personnel ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.80 300.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.45 300.75 Td (greater ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.07 300.75 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.28 300.75 Td (resources ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.41 300.75 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.97 300.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.70 300.75 Td (have. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.63 300.75 Td (Some ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.03 300.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.26 300.75 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.31 300.75 Td (competitors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.37 300.75 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.67 300.75 Td (proprietary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.80 300.75 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.44 300.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.09 300.75 Td (distribution ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.15 Td (channels ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.61 288.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.73 288.15 Td (make ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.85 288.15 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.06 288.15 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.01 288.15 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.49 288.15 Td (ficult ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.02 288.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.64 288.15 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.36 288.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.90 288.15 Td (compete ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.84 288.15 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.89 288.15 Td (them. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.88 288.15 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.01 288.15 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.42 288.15 Td (many ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.13 288.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.25 288.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.62 288.15 Td (competitors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.57 288.15 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.77 288.15 Td (long-standing ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.77 275.55 Td (established ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.53 275.55 Td (relationships ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.30 275.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.08 275.55 Td (distributors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.02 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.29 275.55 Td (clients. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.21 275.55 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.65 275.55 Td (principal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.07 275.55 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.75 275.55 Td (factors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.43 275.55 Td (relating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.61 275.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.88 275.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.99 275.55 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.68 275.55 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.73 262.95 Td (quality ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.30 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.45 262.95 Td (advice ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.25 262.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.81 262.95 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.04 262.95 Td (provided ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.76 262.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.34 262.95 Td (investors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.28 262.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.51 262.95 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.96 262.95 Td (records ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.27 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.42 262.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.57 262.95 Td (advice ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.37 262.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.93 262.95 Td (service, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.69 262.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.93 262.95 Td (reputation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 250.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 62.62 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.82 250.35 Td (company ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.68 250.35 Td (providing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.89 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.09 250.35 Td (services, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.90 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.10 250.35 Td (price ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.46 250.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.58 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.78 250.35 Td (services, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.60 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.80 250.35 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.33 250.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.86 250.35 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.06 250.35 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.61 250.35 Td (fered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.55 250.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.08 250.35 Td (distribution ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.75 Td (relationships ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.79 237.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.57 237.75 Td (compensation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.52 237.75 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.07 237.75 Td (fered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.26 237.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.06 237.75 Td (distributors.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 212.55 Td (Competition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.57 212.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.31 212.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.88 212.55 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.03 212.55 Td (periodically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.75 212.55 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.32 212.55 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.71 212.55 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.68 212.55 Td (fected ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.89 212.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.96 212.55 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.86 212.55 Td (developments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.75 212.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.48 212.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.88 212.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.86 212.55 Td (management ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 199.95 Td (industry) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.24 199.95 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.85 199.95 Td (See ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.00 199.95 Td (�Item ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.89 199.95 Td (1A. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.34 199.95 Td (Risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.59 199.95 Td (Factors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.49 199.95 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.98 199.95 Td (Risks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.31 199.95 Td (Related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.37 199.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.53 199.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.63 199.95 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.96 199.95 Td (Management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.76 199.95 Td (Business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.09 199.95 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.58 199.95 Td (Competition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.07 199.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.23 199.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.17 199.95 Td (Asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 187.35 Td (Management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.94 187.35 Td (Industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.56 187.35 Td (Could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.86 187.35 Td (Reduce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.97 187.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.59 187.35 Td (Revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.04 187.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.82 187.35 Td (Net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.61 187.35 Td (Income.�) Tj ET Q
BT /F2 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 162.15 Td (Regulation) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 136.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.28 136.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.14 136.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.24 136.95 Td (industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.11 136.95 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.56 136.95 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.76 136.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.38 136.95 Td (extensive ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 330.48 136.95 Td (federal, ) Tj ET Q
q 0 0 0 rg BT 366.70 136.95 Td (state ) Tj ET Q
q 0 0 0 rg BT 390.40 136.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 410.01 136.95 Td (international ) Tj ET Q
q 0 0 0 rg BT 467.53 136.95 Td (laws ) Tj ET Q
q 0 0 0 rg BT 491.23 136.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 510.84 136.95 Td (regulations) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 557.50 136.95 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 124.35 Td (promulgated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.56 124.35 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.05 124.35 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.94 124.35 Td (governments, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.80 124.35 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.44 124.35 Td (exchanges, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.78 124.35 Td (central ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.33 124.35 Td (banks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.82 124.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.96 124.35 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.10 124.35 Td (bodies) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 445.52 124.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 447.50 124.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 465.24 124.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 480.04 124.35 Td (intended ) Tj ET Q
q 0 0 0 rg BT 518.19 124.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 528.34 124.35 Td (benefit ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 111.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.24 111.75 Td (protect ) Tj ET Q
q 0 0 0 rg BT 98.96 111.75 Td (investors ) Tj ET Q
q 0 0 0 rg BT 139.45 111.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 150.20 111.75 Td (products. ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.56 111.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.88 111.75 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.49 111.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.06 111.75 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.06 111.75 Td (activities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.54 111.75 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.03 111.75 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.68 111.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.17 111.75 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.49 111.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.23 111.75 Td (regulation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.38 111.75 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.45 111.75 Td (international ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 99.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.24 99.15 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.49 99.15 Td (federal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.21 99.15 Td (agencies, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.56 99.15 Td (self-regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.95 99.15 Td (or) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.50 99.15 Td (ganizations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.90 99.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.64 99.15 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.88 99.15 Td (commissions ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.84 678.75 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.35 678.75 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.34 678.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.18 678.75 Td (significant ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 666.15 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.72 666.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.86 666.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.51 666.15 Td (business. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.36 666.15 Td (Possible ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.02 666.15 Td (sanctions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.74 666.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.63 666.15 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.60 666.15 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.64 666.15 Td (failures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.77 666.15 Td (include ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.32 666.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.79 666.15 Td (suspension ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.53 666.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.92 666.15 Td (individual ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 653.55 Td (employees, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.49 653.55 Td (limitations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.88 653.55 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.85 653.55 Td (engaging ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.80 653.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.43 653.55 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.46 653.55 Td (lines ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.76 653.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.97 653.55 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.03 653.55 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.73 653.55 Td (specified ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.10 653.55 Td (periods ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.48 653.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.69 653.55 Td (time, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.44 653.55 Td (revocation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.22 653.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.44 653.55 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (adviser ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.43 640.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.20 640.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.39 640.95 Td (registrations, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.53 640.95 Td (censures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.29 640.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.07 640.95 Td (fines. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.14 640.95 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.14 640.95 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.75 640.95 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.51 640.95 Td (proceeding, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.39 640.95 Td (regardless ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.57 640.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.93 640.95 Td (whether ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.36 640.95 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.80 640.95 Td (results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.83 640.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.61 640.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.88 640.95 Td (sanction, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.35 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.70 628.35 Td (require ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.05 628.35 Td (substantial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.59 628.35 Td (expenditures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.87 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.65 628.35 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.85 628.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.30 628.35 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.83 628.35 Td (adverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.52 628.35 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.49 628.35 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.85 628.35 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.97 628.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.60 628.35 Td (reputation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.79 628.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.16 628.35 Td (business.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 603.15 Td (Regulatory Reform) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 577.95 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 577.95 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.97 577.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.53 577.95 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.01 577.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.92 577.95 Td (numerous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.07 577.95 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.95 577.95 Td (reform ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.26 577.95 Td (initiatives ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.41 577.95 Td (around ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.31 577.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.88 577.95 Td (world. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.13 577.95 Td (Any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.96 577.95 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.94 577.95 Td (initiative, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.63 577.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.12 577.95 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.02 577.95 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.25 577.95 Td (laws ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.80 565.35 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.01 565.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.31 565.35 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.69 565.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.41 565.35 Td (enforcement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.43 565.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.73 565.35 Td (existing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.54 565.35 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.34 565.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.64 565.35 Td (regulations, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.47 565.35 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.36 565.35 Td (materially ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.48 565.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.19 565.35 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.98 565.35 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.11 565.35 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.00 565.35 Td (by ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (leading ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.36 552.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.48 552.75 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.03 552.75 Td (disruptions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.28 552.75 Td (requiring ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.72 552.75 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.01 552.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.14 552.75 Td (change ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.82 552.75 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.34 552.75 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.88 552.75 Td (practices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.15 552.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.27 552.75 Td (exposing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.14 552.75 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.43 552.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.55 552.75 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.50 552.75 Td (costs ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (\(including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.71 540.15 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.15 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.35 540.15 Td (legal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.81 540.15 Td (costs\). ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.68 540.15 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.06 540.15 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.51 540.15 Td (governing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.13 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.01 540.15 Td (regulation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.63 540.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.42 540.15 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.20 540.15 Td (institutions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.92 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.13 540.15 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.42 540.15 Td (holding ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (companies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.39 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.54 527.55 Td (subsidiaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.10 527.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.91 527.55 Td (very ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.55 527.55 Td (detailed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.77 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.92 527.55 Td (technical. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.77 527.55 Td (Accordingly) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.57 527.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.18 527.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.00 527.55 Td (discussion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.74 527.55 Td (below ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.38 527.55 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.37 527.55 Td (general ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.26 527.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.41 527.55 Td (nature, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.26 527.55 Td (does ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.54 514.95 Td (purport ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.08 514.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.87 514.95 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.41 514.95 Td (complete ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.52 514.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.30 514.95 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.93 514.95 Td (current ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.29 514.95 Td (only ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.58 514.95 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.95 514.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.32 514.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.78 514.95 Td (date ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.89 514.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.26 514.95 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.06 514.95 Td (report.) Tj ET Q
BT /F4 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 489.75 Td (U.S. Executive Or) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.92 489.75 Td (der) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 464.55 Td (On ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.14 464.55 Td (February ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.85 464.55 Td (3, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.53 464.55 Td (2017, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.97 464.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.43 464.55 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.91 464.55 Td (presidential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.71 464.55 Td (executive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.74 464.55 Td (order ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.70 464.55 Td (\(the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.83 464.55 Td (�Executive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.28 464.55 Td (Order�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.73 464.55 Td (articulated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.85 464.55 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.22 464.55 Td (core ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.09 464.55 Td (principles ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 451.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.44 451.95 Td (regulating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.72 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.25 451.95 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.62 451.95 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.05 451.95 Td (system ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.92 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.79 451.95 Td (directed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.30 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.83 451.95 Td (Secretary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.18 451.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.62 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.15 451.95 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.53 451.95 Td (Department ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.79 451.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.24 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.50 451.95 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.55 451.95 Td (reasury ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.15 451.95 Td (\(the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.18 451.95 Td (�U.S. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 55.54 439.35 Td (reasury�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.78 439.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.13 439.35 Td (report ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.39 439.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.73 439.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.74 439.35 Td (President ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.00 439.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.01 439.35 Td (extent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.85 439.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.20 439.35 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.04 439.35 Td (existing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.47 439.35 Td (laws, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.53 439.35 Td (treaties, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.65 439.35 Td (rules, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.87 439.35 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.70 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.05 439.35 Td (policies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.89 439.35 Td (promote, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (support ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.82 426.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.39 426.75 Td (inhibit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.63 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.28 426.75 Td (federal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.25 426.75 Td (regulation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.64 426.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.21 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.86 426.75 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.36 426.75 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.91 426.75 Td (system ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.90 426.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.89 426.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.37 426.75 Td (manner ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.68 426.75 Td (consistent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.50 426.75 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.99 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.64 426.75 Td (core ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.53 426.75 Td (principles. ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 541.18 426.75 Td (The ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (T) Tj ET Q
q 0 0 0 rg BT 55.54 414.15 Td (reasury ) Tj ET Q
q 0 0 0 rg BT 88.71 414.15 Td (has ) Tj ET Q
q 0 0 0 rg BT 104.98 414.15 Td (issued ) Tj ET Q
q 0 0 0 rg BT 133.50 414.15 Td (three ) Tj ET Q
q 0 0 0 rg BT 156.75 414.15 Td (\(of ) Tj ET Q
q 0 0 0 rg BT 171.26 414.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 183.44 414.15 Td (expected ) Tj ET Q
q 0 0 0 rg BT 223.02 414.15 Td (four\) ) Tj ET Q
q 0 0 0 rg BT 246.27 414.15 Td (reports ) Tj ET Q
q 0 0 0 rg BT 277.70 414.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 288.13 414.15 Td (response ) Tj ET Q
q 0 0 0 rg BT 327.14 414.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 337.58 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 352.67 414.15 Td (Executive ) Tj ET Q
q 0 0 0 rg BT 396.92 414.15 Td (Order ) Tj ET Q
q 0 0 0 rg BT 423.68 414.15 Td (\(the ) Tj ET Q
q 0 0 0 rg BT 442.27 414.15 Td (�T) Tj ET Q
q 0 0 0 rg BT 452.97 414.15 Td (reasury ) Tj ET Q
q 0 0 0 rg BT 486.14 414.15 Td (Reports�\), ) Tj ET Q
q 0 0 0 rg BT 531.86 414.15 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (include ) Tj ET Q
q 0 0 0 rg BT 82.86 401.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 89.97 401.55 Td (number ) Tj ET Q
q 0 0 0 rg BT 124.50 401.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 135.70 401.55 Td (recommendations, ) Tj ET Q
q 0 0 0 rg BT 215.42 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 230.70 401.55 Td (majority ) Tj ET Q
q 0 0 0 rg BT 268.73 401.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 279.93 401.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 308.04 401.55 Td (require ) Tj ET Q
q 0 0 0 rg BT 340.23 401.55 Td (further ) Tj ET Q
q 0 0 0 rg BT 371.25 401.55 Td (legislative ) Tj ET Q
q 0 0 0 rg BT 416.85 401.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 428.05 401.55 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 473.65 401.55 Td (action ) Tj ET Q
q 0 0 0 rg BT 501.76 401.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 512.38 401.55 Td (order ) Tj ET Q
q 0 0 0 rg BT 536.99 401.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 547.61 401.55 Td (be ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (implemented, ) Tj ET Q
q 0 0 0 rg BT 108.62 388.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 126.04 388.95 Td (may ) Tj ET Q
q 0 0 0 rg BT 145.79 388.95 Td (af) Tj ET Q
q 0 0 0 rg BT 153.76 388.95 Td (fect ) Tj ET Q
q 0 0 0 rg BT 171.17 388.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 186.84 388.95 Td (business ) Tj ET Q
q 0 0 0 rg BT 224.10 388.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 234.52 388.95 Td (operations. ) Tj ET Q
q 0 0 0 rg BT 282.56 388.95 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.11 388.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.11 388.95 Td (scope ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.69 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.52 388.95 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.94 388.95 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.19 388.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.61 388.95 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.44 388.95 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.27 388.95 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.76 388.95 Td (resulting ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.22 376.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.35 376.35 Td (Executive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.64 376.35 Td (Order ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.43 376.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.90 376.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.86 376.35 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.91 376.35 Td (reasury ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.11 376.35 Td (Reports ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.08 376.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.21 376.35 Td (unclear ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.41 376.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.88 376.35 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.43 376.35 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.07 376.35 Td (continue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.53 376.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.00 376.35 Td (monitor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.56 376.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.69 376.35 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.74 376.35 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.62 376.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.67 376.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.75 Td (Executive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.11 363.75 Td (Order ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.22 363.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.34 363.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.96 363.75 Td (business.) Tj ET Q
BT /F4 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 338.55 Td (Dodd-Frank W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.40 338.55 Td (all Str) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.97 338.55 Td (eet Reform and Consumer Pr) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.65 338.55 Td (otection ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.91 338.55 Td (Act) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 313.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.91 313.35 Td (July ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.09 313.35 Td (2010, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.38 313.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.87 313.35 Td (Dodd-Frank ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.75 313.35 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.82 313.35 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.98 313.35 Td (Street ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.14 313.35 Td (Reform ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.88 313.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.71 313.35 Td (Consumer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.54 313.35 Td (Protection ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.00 313.35 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.83 313.35 Td (\(the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.82 313.35 Td (�Dodd-Frank ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.11 313.35 Td (Act�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.10 313.35 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.09 313.35 Td (signed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (into ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.12 300.75 Td (law ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.57 300.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.03 300.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.15 300.75 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.02 300.75 Td (States. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.85 300.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.46 300.75 Td (Dodd-Frank ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.57 300.75 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.02 300.75 Td (requires ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.13 300.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.25 300.75 Td (adoption ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.28 300.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.32 300.75 Td (extensive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.26 300.75 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.21 300.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.65 300.75 Td (numerous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.35 300.75 Td (regulatory ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.15 Td (decisions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.63 288.15 Td (many ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.38 288.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.55 288.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.64 288.15 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.89 288.15 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.13 288.15 Td (adopted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.80 288.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.38 288.15 Td (others ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.47 288.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.64 288.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.73 288.15 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.49 288.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.83 288.15 Td (forthcoming.) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 409.36 288.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.61 288.15 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.68 288.15 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.76 288.15 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.01 288.15 Td (implemented ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.25 288.15 Td (programs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.34 288.15 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (address ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.00 275.55 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.57 275.55 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.24 275.55 Td (adopted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.48 275.55 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.40 275.55 Td (Dodd-Frank, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.36 275.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.11 275.55 Td (well ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.20 275.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.96 275.55 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.70 275.55 Td (reforms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.36 275.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.11 275.55 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.94 275.55 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.77 275.55 Td (introduced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.68 275.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.44 275.55 Td (part ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.77 275.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.45 262.95 Td (SEC�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.63 262.95 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.84 262.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.04 262.95 Td (company ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.66 262.95 Td (modernization ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.43 262.95 Td (initiatives. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.60 262.95 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.03 262.95 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.83 262.95 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.52 262.95 Td (limited ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.39 262.95 Td (aspects ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.84 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.71 262.95 Td (Dodd-Frank ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.17 262.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.45 262.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.15 262.95 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.69 262.95 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 250.35 Td (still ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.54 250.35 Td (being ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.14 250.35 Td (adopted, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.29 250.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.73 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.84 250.35 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.69 250.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.72 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.82 250.35 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.51 250.35 Td (already ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.69 250.35 Td (adopted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.21 250.35 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.82 250.35 Td (become ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.75 250.35 Td (evident ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.94 250.35 Td (over ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.88 250.35 Td (time, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.44 250.35 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.56 250.35 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.84 250.35 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.54 250.35 Td (yet ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.65 250.35 Td (possible ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.35 250.35 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.75 Td (predict ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.66 237.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.50 237.75 Td (ultimate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.91 237.75 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.88 237.75 Td (fects ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.71 237.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.47 237.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.30 237.75 Td (Dodd-Frank ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.97 237.75 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.14 237.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.90 237.75 Td (subsequent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.57 237.75 Td (implementing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.90 237.75 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.57 237.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.74 237.75 Td (decisions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.82 237.75 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.17 237.75 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.00 237.75 Td (on ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.15 Td (us.) Tj ET Q
BT /F4 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 199.95 Td (Systemically Important Financial Institution \(�SIFI�\) Review) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 174.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.06 174.75 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.36 174.75 Td (Stability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.19 174.75 Td (Oversight ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.83 174.75 Td (Council ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.31 174.75 Td (\(�FSOC�\). ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.75 174.75 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.98 174.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.04 174.75 Td (authority ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.18 174.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.58 174.75 Td (designate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.47 174.75 Td (nonbank ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.86 174.75 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.83 174.75 Td (institutions ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 162.15 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 62.47 162.15 Td (SIFIs. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.07 162.15 Td (FSOC�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.26 162.15 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.56 162.15 Td (most ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.21 162.15 Td (recent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.07 162.15 Td (statements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.62 162.15 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.91 162.15 Td (indicate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.36 162.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.33 162.15 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.38 162.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.61 162.15 Td (focused ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.48 162.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.21 162.15 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.59 162.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.97 162.15 Td (activities, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.72 162.15 Td (rather ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 539.42 162.15 Td (than ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 149.55 Td (designation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.25 149.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.34 149.55 Td (entities, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.64 149.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.15 149.55 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.41 149.55 Td (review ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.33 149.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.42 149.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.17 149.55 Td (managers. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.20 149.55 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.70 149.55 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.75 149.55 Td (reasury ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.99 149.55 Td (report ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.40 149.55 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.25 149.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.00 149.55 Td (management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.62 149.55 Td (issued ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.21 149.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.72 149.55 Td (October ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.88 149.55 Td (2017, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 136.95 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.22 136.95 Td (expressed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.43 136.95 Td (this ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.13 136.95 Td (addition, ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.36 716.55 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.89 716.55 Td (develop ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.57 716.55 Td (criteria ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.75 716.55 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.44 716.55 Td (designation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.30 716.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.50 716.55 Td (nonbank ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.11 716.55 Td (non-insurers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.05 716.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.67 716.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.94 716.55 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.46 716.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.08 716.55 Td (address ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.02 716.55 Td (�residual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.37 716.55 Td (risks�. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 560.12 716.55 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 562.74 716.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 703.95 Td (Any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.27 703.95 Td (measures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.02 703.95 Td (applied ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.61 703.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.47 703.95 Td (relation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.22 703.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.07 703.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.42 703.95 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.35 703.95 Td (systemically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.53 703.95 Td (important ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.04 703.95 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.46 703.95 Td (institution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.73 703.95 Td (\(�G-SIFI�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.48 703.95 Td (designation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.58 703.95 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.67 703.95 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 691.35 Td (FSB ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.50 691.35 Td (would ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.07 691.35 Td (need ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.20 691.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.69 691.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.91 691.35 Td (implemented ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.05 691.35 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.03 691.35 Td (existing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.59 691.35 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.06 691.35 Td (processes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.61 691.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.09 691.35 Td (procedures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.47 691.35 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.28 691.35 Td (relevant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.41 691.35 Td (national ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.55 691.35 Td (authorities. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 560.13 691.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.50 666.15 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.55 666.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.84 666.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.64 666.15 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.85 666.15 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.48 666.15 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.94 666.15 Td (manager ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.14 666.15 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.60 666.15 Td (designated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.55 666.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.26 666.15 Td (SIFI ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.99 666.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.79 666.15 Td (G-SIFI, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.22 666.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.51 666.15 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.89 666.15 Td (become ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.60 666.15 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.39 666.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.61 666.15 Td (enhanced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.30 666.15 Td (prudential, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 653.55 Td (capital, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.84 653.55 Td (supervisory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.57 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.46 653.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.77 653.55 Td (requirements, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.94 653.55 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.92 653.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.40 653.55 Td (risk-based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.29 653.55 Td (capital ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.01 653.55 Td (requirements, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.18 653.55 Td (leverage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.47 653.55 Td (limits, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.75 653.55 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.07 653.55 Td (requirements, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (resolution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.17 640.95 Td (plan ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.93 640.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.76 640.95 Td (credit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.34 640.95 Td (exposure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.92 640.95 Td (report ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.67 640.95 Td (requirements, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.79 640.95 Td (concentration ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.60 640.95 Td (limits, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.83 640.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.17 640.95 Td (contingent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.17 640.95 Td (capital ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.83 640.95 Td (requirement, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.86 640.95 Td (enhanced ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.35 Td (public ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.56 628.35 Td (disclosures, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.66 628.35 Td (short-term ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.22 628.35 Td (debt ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.11 628.35 Td (limits ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.85 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.82 628.35 Td (overall ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.79 628.35 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.36 628.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.82 628.35 Td (requirements. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.07 628.35 Td (Requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.21 628.35 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.27 628.35 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.83 628.35 Td (these, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.85 628.35 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.75 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.45 615.75 Td (designed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.33 615.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.05 615.75 Td (regulate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.41 615.75 Td (banking ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.79 615.75 Td (institutions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.64 615.75 Td (would ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.44 615.75 Td (likely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.91 615.75 Td (need ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.28 615.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.00 615.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.46 615.75 Td (modified ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.92 615.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.64 615.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.10 615.75 Td (applicable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.80 615.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.51 615.75 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.98 615.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.94 615.75 Td (manager) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 539.50 615.75 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.68 615.75 Td (No ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.15 Td (proposals ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.37 603.15 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.82 603.15 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.27 603.15 Td (made ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.63 603.15 Td (indicating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.25 603.15 Td (how ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.95 603.15 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.83 603.15 Td (measures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.52 603.15 Td (would ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.39 603.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.93 603.15 Td (adapted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.20 603.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.07 603.15 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.11 603.15 Td (managers.) Tj ET Q
BT /F4 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.50 577.95 Td (Securities and Exchange Commission Review of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.03 577.95 Td (Asset Managers and Mutual Funds) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.50 552.75 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.60 552.75 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.96 552.75 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.82 552.75 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.51 552.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.19 552.75 Td (impacted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.45 552.75 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.72 552.75 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.49 552.75 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.41 552.75 Td (initiatives ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.60 552.75 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.87 552.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.47 552.75 Td (SEC. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.13 552.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.65 552.75 Td (October ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.24 552.75 Td (2016, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.64 552.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.24 552.75 Td (SEC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.27 552.75 Td (adopted ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 69.27 540.15 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.95 540.15 Td (\(as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.46 540.15 Td (well ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.81 540.15 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.83 540.15 Td (amendments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.17 540.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.61 540.15 Td (existing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.13 540.15 Td (rules\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.31 540.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.75 540.15 Td (modernize ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.34 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.44 540.15 Td (reporting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.20 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.63 540.15 Td (disclosure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.48 540.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.49 540.15 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.34 540.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.11 540.15 Td (registered ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.97 527.55 Td (companies) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 142.88 527.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 147.90 527.55 Td (including ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.95 527.55 Td (\(i\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.26 527.55 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.15 527.55 Td (monthly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.54 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.10 527.55 Td (annual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.48 527.55 Td (reporting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.36 527.55 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.57 527.55 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.21 527.55 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.17 527.55 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.24 527.55 Td (registered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.03 527.55 Td (funds; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.67 527.55 Td (\(ii\) ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (enhanced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.44 514.95 Td (reporting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.22 514.95 Td (regimes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.75 514.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.29 514.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.66 514.95 Td (advisers; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.28 514.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.74 514.95 Td (\(iii\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.78 514.95 Td (implementing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.40 514.95 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.28 514.95 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.33 514.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.27 514.95 Td (programs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.22 514.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.76 514.95 Td (ETFs ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.82 502.35 Td (open-end ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.05 502.35 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.17 502.35 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.90 502.35 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.14 502.35 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.88 502.35 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.19 502.35 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.31 502.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.21 502.35 Td (February ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.28 502.35 Td (2018 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.44 502.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.42 502.35 Td (SEC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.84 502.35 Td (extended ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.90 502.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.89 502.35 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.44 502.35 Td (deadlines ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 545.25 502.35 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 489.75 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.12 489.75 Td (provisions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.92 489.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.72 489.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.60 489.75 Td (rules, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.69 489.75 Td (although ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.49 489.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.37 489.75 Td (original ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.08 489.75 Td (December ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.27 489.75 Td (1, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.20 489.75 Td (2018 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.25 489.75 Td (deadline ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.87 489.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.17 489.75 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.79 489.75 Td (provisions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.60 489.75 Td (still ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.41 489.75 Td (applies. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.83 489.75 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.73 489.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.11 489.75 Td (rules ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.15 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.54 477.15 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.65 477.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.35 477.15 Td (public ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.30 477.15 Td (reporting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.50 477.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.37 477.15 Td (disclosure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.66 477.15 Td (requirements, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.80 477.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.17 477.15 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.21 477.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.83 477.15 Td (costly) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.23 477.15 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.19 477.15 Td (Any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.98 477.15 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.68 477.15 Td (SEC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.64 477.15 Td (oversight ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.43 477.15 Td (relating ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 464.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.78 464.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.72 464.55 Td (above, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.53 464.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.39 464.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.33 464.55 Td (introduction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.77 464.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.63 464.55 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.91 464.55 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.51 464.55 Td (reporting, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.74 464.55 Td (disclosure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.43 464.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.29 464.55 Td (control ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.15 464.55 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.07 464.55 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.51 464.55 Td (expose ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.79 464.55 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.23 464.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.52 464.55 Td (additional ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 451.95 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.52 451.95 Td (costs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.15 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.93 451.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.63 451.95 Td (require ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.99 451.95 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.95 451.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.75 451.95 Td (change ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.10 451.95 Td (how ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.81 451.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.68 451.95 Td (operate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.20 451.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.82 451.95 Td (business.) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 374.03 451.95 Td ( ) Tj ET Q
BT /F4 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.00 426.75 Td (Regulation of Exchange-T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.65 426.75 Td (raded Funds ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.00 401.55 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.45 401.55 Td (part ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.55 401.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.08 401.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.52 401.55 Td (focus ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.04 401.55 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.32 401.55 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.83 401.55 Td (stability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.44 401.55 Td (issues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.31 401.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.25 401.55 Td (due ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.19 401.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.13 401.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.74 401.55 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.84 401.55 Td (growth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.37 401.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.89 401.55 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.84 401.55 Td (product ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.70 401.55 Td (class ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.89 401.55 Td (over ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.32 401.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.93 401.55 Td (last ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 388.95 Td (few ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.97 388.95 Td (years, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.47 388.95 Td (regulators ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.18 388.95 Td (globally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.32 388.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.86 388.95 Td (examining ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.91 388.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.46 388.95 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.93 388.95 Td (risks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.49 388.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.38 388.95 Td (ETFs, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.49 388.95 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.88 388.95 Td (risks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.44 388.95 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.73 388.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.62 388.95 Td (transparency) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.58 388.95 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.93 388.95 Td (liquidity ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.56 376.35 Td (structural ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.12 376.35 Td (resiliency) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.26 376.35 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.58 376.35 Td (There ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.96 376.35 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.44 376.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.25 376.35 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.66 376.35 Td (assurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.38 376.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.03 376.35 Td (structural ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.58 376.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.23 376.35 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.29 376.35 Td (reforms, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.47 376.35 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.04 376.35 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.68 376.35 Td (rulemaking ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.75 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.82 363.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.47 363.75 Td (SEC, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.17 363.75 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.32 363.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.05 363.75 Td (implemented ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.69 363.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.68 363.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.15 363.75 Td (manner ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.46 363.75 Td (favorable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.92 363.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.91 363.75 Td (us, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.69 363.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.25 363.75 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.65 363.75 Td (all. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.59 363.75 Td (Depending ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.48 363.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.80 363.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.45 363.75 Td (outcome ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.42 363.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.99 363.75 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.98 363.75 Td (renewed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.36 363.75 Td (regulatory ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (analysis, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.00 351.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.80 351.15 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.00 351.15 Td (associated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.20 351.15 Td (structural ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.90 351.15 Td (reforms, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.23 351.15 Td (ETF ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.95 351.15 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.16 351.15 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.28 351.15 Td (become ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.98 351.15 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.77 351.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.99 351.15 Td (increased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.68 351.15 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.87 351.15 Td (scrutiny ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.75 351.15 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.55 Td (restrictions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.84 338.55 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.56 338.55 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.70 338.55 Td (require ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.49 338.55 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.88 338.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.11 338.55 Td (incur ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.74 338.55 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.79 338.55 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.25 338.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.46 338.55 Td (reporting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.01 338.55 Td (expenses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.98 338.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.19 338.55 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.49 338.55 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.45 338.55 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.25 338.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.30 338.55 Td (business.) Tj ET Q
BT /F4 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.00 313.35 Td (Regulation of Swaps and Derivatives) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.00 288.15 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.80 288.15 Td (SEC, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.16 288.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.47 288.15 Td (Internal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.59 288.15 Td (Revenue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.81 288.15 Td (Service ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.77 288.15 Td (\(�IRS�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.90 288.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.54 288.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.85 288.15 Td (Commodity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.50 288.15 Td (Futures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.30 288.15 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.34 288.15 Td (rading ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.64 288.15 Td (Commission ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.22 288.15 Td (\(�CFTC�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.27 288.15 Td (each ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (continue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.83 275.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.18 275.55 Td (review ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.93 275.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.94 275.55 Td (use ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.11 275.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.04 275.55 Td (futures, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.00 275.55 Td (swaps ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.84 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.18 275.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.94 275.55 Td (derivatives. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.81 275.55 Td (Such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.99 275.55 Td (reviews ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.82 275.55 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.33 275.55 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.83 275.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.18 275.55 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.02 275.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.94 275.55 Td (further ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (limit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.58 262.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.66 262.95 Td (use ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.90 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.90 262.95 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.39 262.95 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.80 262.95 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.55 262.95 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.96 262.95 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.16 262.95 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.40 262.95 Td (adopted, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.51 262.95 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.34 262.95 Td (limitations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.50 262.95 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.08 262.95 Td (require ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.06 262.95 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.64 262.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.05 262.95 Td (change ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.03 262.95 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.84 262.95 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.25 262.95 Td (fund ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 250.35 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.00 250.35 Td (practices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.22 250.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.88 250.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.96 250.35 Td (register ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.36 250.35 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.26 250.35 Td (entities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.50 250.35 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.09 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.83 250.35 Td (CFTC, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.62 250.35 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.20 250.35 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.44 250.35 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.68 250.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.76 250.35 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.66 250.35 Td (costs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.58 250.35 Td (and/ ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.57 250.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.23 250.35 Td (restrictions. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 560.13 250.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 62.52 237.75 Td (December ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.94 237.75 Td (2015, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.84 237.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.94 237.75 Td (SEC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.47 237.75 Td (proposed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.24 237.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.18 237.75 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.94 237.75 Td (rule ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.54 237.75 Td (governing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.39 237.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.50 237.75 Td (use ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.77 237.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.79 237.75 Td (derivatives ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.13 237.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.57 237.75 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.42 237.75 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.42 237.75 Td (commitment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.15 Td (transactions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.67 225.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.18 225.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.28 225.15 Td (companies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.19 225.15 Td (that, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.58 225.15 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.01 225.15 Td (enacted, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.71 225.15 Td (would ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.97 225.15 Td (represent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.47 225.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.14 225.15 Td (fundamental ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.64 225.15 Td (change ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.38 225.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.57 225.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.41 225.15 Td (nature ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.66 225.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.42 225.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.26 225.15 Td (SEC's ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 212.55 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.36 212.55 Td (governing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.14 212.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.17 212.55 Td (use ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.37 212.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.31 212.55 Td (derivatives ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.58 212.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.95 212.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.72 212.55 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.66 212.55 Td (commitment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.93 212.55 Td (transactions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.29 212.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.99 212.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.27 212.55 Td (companies. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.84 212.55 Td (While ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 199.95 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.73 199.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.05 199.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.70 199.95 Td (SEC�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.87 199.95 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.78 199.95 Td (current ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.33 199.95 Td (agenda ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.88 199.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.94 199.95 Td (finalization, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.19 199.95 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.18 199.95 Td (proposal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.16 199.95 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.98 199.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.62 199.95 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.18 199.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.16 199.95 Td (require ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.71 199.95 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.87 199.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.85 199.95 Td (change ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.40 199.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.97 199.95 Td (restrict ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.94 199.95 Td (certain ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 187.35 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.20 187.35 Td (strategies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.48 187.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.85 187.35 Td (practices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.79 187.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.57 187.35 Td (incur ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.77 187.35 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.39 187.35 Td (costs.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.00 162.15 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.07 162.15 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.05 162.15 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.29 162.15 Td (report ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.69 162.15 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.57 162.15 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.47 162.15 Td (about ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.12 162.15 Td (several ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.18 162.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.25 162.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.57 162.15 Td (private ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.05 162.15 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.70 162.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.20 162.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.35 162.15 Td (SEC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.93 162.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.41 162.15 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.30 162.15 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.20 162.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.69 162.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 149.55 Td (CFTC, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.30 149.55 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.12 149.55 Td (systemic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.78 149.55 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.44 149.55 Td (reporting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.85 149.55 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.57 149.55 Td (adopted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.73 149.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.14 149.55 Td (both ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.72 149.55 Td (agencies. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.20 149.55 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.18 149.55 Td (reporting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.58 149.55 Td (obligations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.16 149.55 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.90 149.55 Td (required, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 136.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.05 136.95 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.77 136.95 Td (continue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.31 136.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.86 136.95 Td (require, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.61 136.95 Td (investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.16 136.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.71 136.95 Td (people ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.09 136.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.63 136.95 Td (systems ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.27 136.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.83 136.95 Td (assure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.46 136.95 Td (timely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.67 136.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.22 136.95 Td (accurate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.57 136.95 Td (reporting. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.83 136.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.54 136.95 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.34 136.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 124.35 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.83 124.35 Td (applicable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.65 124.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.50 124.35 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.05 124.35 Td (fshore ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.97 124.35 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.60 124.35 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.01 124.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.85 124.35 Td (counterparties ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.00 124.35 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.01 124.35 Td (require ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.42 124.35 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.43 124.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.27 124.35 Td (build ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.53 124.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.37 124.35 Td (implement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.95 124.35 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.12 124.35 Td (compliance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 111.75 Td (monitoring ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.41 111.75 Td (procedures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.71 111.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.12 111.75 Td (address ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.85 111.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.92 111.75 Td (enhanced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.81 111.75 Td (level ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.46 111.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.44 111.75 Td (oversight ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.76 111.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.17 111.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.08 111.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.56 111.75 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.14 111.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.29 111.75 Td (subject. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.67 111.75 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.98 111.75 Td (rule ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.55 111.75 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 540.61 111.75 Td (also ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 99.15 Td (introduce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.95 99.15 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.25 99.15 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.86 99.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.90 99.15 Td (centrally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.43 99.15 Td (clearing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.04 99.15 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.41 99.15 Td (swap, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.41 99.15 Td (and ) Tj ET Q
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q 0 0 0 rg BT 426.63 615.75 Td (enhance ) Tj ET Q
q 0 0 0 rg BT 463.55 615.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 478.92 615.75 Td (current ) Tj ET Q
q 0 0 0 rg BT 511.18 615.75 Td (�suitability� ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (standard ) Tj ET Q
q 0 0 0 rg BT 87.74 603.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 98.57 603.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 126.89 603.15 Td (broker) Tj ET Q
q 0 0 0 rg BT 154.08 603.15 Td (-dealers ) Tj ET Q
q 0 0 0 rg BT 189.98 603.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 205.46 603.15 Td (subject ) Tj ET Q
q 0 0 0 rg BT 237.87 603.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 251.03 603.15 Td (imposing ) Tj ET Q
q 0 0 0 rg BT 292.78 603.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 305.36 603.15 Td (explicit ) Tj ET Q
q 0 0 0 rg BT 339.51 603.15 Td (care ) Tj ET Q
q 0 0 0 rg BT 359.65 603.15 Td (obligation ) Tj ET Q
q 0 0 0 rg BT 404.90 603.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 422.72 603.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 467.38 603.15 Td (disclosure ) Tj ET Q
q 0 0 0 rg BT 512.61 603.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 530.44 603.15 Td (conflict ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.02 590.55 Td (interest ) Tj ET Q
q 0 0 0 rg BT 92.70 590.55 Td (mitigation ) Tj ET Q
q 0 0 0 rg BT 137.64 590.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 148.16 590.55 Td (elimination ) Tj ET Q
q 0 0 0 rg BT 197.75 590.55 Td (requirements ) Tj ET Q
q 0 0 0 rg BT 254.34 590.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 266.61 590.55 Td (broker) Tj ET Q
q 0 0 0 rg BT 293.81 590.55 Td (-dealers ) Tj ET Q
q 0 0 0 rg BT 328.81 590.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 346.33 590.55 Td (make ) Tj ET Q
q 0 0 0 rg BT 370.84 590.55 Td (securities ) Tj ET Q
q 0 0 0 rg BT 412.26 590.55 Td (recommendations ) Tj ET Q
q 0 0 0 rg BT 488.68 590.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 498.62 590.55 Td (retail ) Tj ET Q
q 0 0 0 rg BT 521.96 590.55 Td (investors. ) Tj ET Q
q 0 0 0 rg BT 565.13 590.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 567.75 590.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 570.38 590.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.73 577.95 Td (SEC�) Tj ET Q
q 0 0 0 rg BT 90.91 577.95 Td (s ) Tj ET Q
q 0 0 0 rg BT 97.90 577.95 Td (proposed ) Tj ET Q
q 0 0 0 rg BT 139.30 577.95 Td (�best ) Tj ET Q
q 0 0 0 rg BT 163.78 577.95 Td (interest� ) Tj ET Q
q 0 0 0 rg BT 202.26 577.95 Td (standard ) Tj ET Q
q 0 0 0 rg BT 240.74 577.95 Td (contains ) Tj ET Q
q 0 0 0 rg BT 278.64 577.95 Td (certain ) Tj ET Q
q 0 0 0 rg BT 310.11 577.95 Td (elements ) Tj ET Q
q 0 0 0 rg BT 350.34 577.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 368.99 577.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 384.71 577.95 Td (comparable ) Tj ET Q
q 0 0 0 rg BT 436.60 577.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 447.67 577.95 Td (some ) Tj ET Q
q 0 0 0 rg BT 472.74 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 484.40 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 500.13 577.95 Td (core ) Tj ET Q
q 0 0 0 rg BT 521.11 577.95 Td (principles ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 67.87 565.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 90.90 565.35 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 130.25 565.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 141.04 565.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 156.50 565.35 Td (Department ) Tj ET Q
q 0 0 0 rg BT 208.69 565.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 220.06 565.35 Td (Labor) Tj ET Q
q 0 0 0 rg BT 245.52 565.35 Td (�) Tj ET Q
q 0 0 0 rg BT 248.44 565.35 Td (s ) Tj ET Q
q 0 0 0 rg BT 255.15 565.35 Td (fiduciary ) Tj ET Q
q 0 0 0 rg BT 295.68 565.35 Td (rule ) Tj ET Q
q 0 0 0 rg BT 314.63 565.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 332.41 565.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 363.60 565.35 Td (exemptions. ) Tj ET Q
q 0 0 0 rg BT 417.27 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 419.89 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 422.52 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 425.15 565.35 Td (In ) Tj ET Q
q 0 0 0 rg BT 436.52 565.35 Td (addition ) Tj ET Q
q 0 0 0 rg BT 473.56 565.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 484.35 565.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 499.81 565.35 Td (proposed ) Tj ET Q
q 0 0 0 rg BT 540.93 565.35 Td (�best ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (interest� ) Tj ET Q
q 0 0 0 rg BT 88.28 552.75 Td (standard ) Tj ET Q
q 0 0 0 rg BT 127.06 552.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 142.51 552.75 Td (broker) Tj ET Q
q 0 0 0 rg BT 169.70 552.75 Td (-dealers, ) Tj ET Q
q 0 0 0 rg BT 208.77 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 224.81 552.75 Td (SEC ) Tj ET Q
q 0 0 0 rg BT 247.27 552.75 Td (has ) Tj ET Q
q 0 0 0 rg BT 264.48 552.75 Td (proposed ) Tj ET Q
q 0 0 0 rg BT 306.18 552.75 Td (an ) Tj ET Q
q 0 0 0 rg BT 319.30 552.75 Td (�interpretation� ) Tj ET Q
q 0 0 0 rg BT 388.40 552.75 Td (highlighting ) Tj ET Q
q 0 0 0 rg BT 442.94 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 458.98 552.75 Td (fiduciary ) Tj ET Q
q 0 0 0 rg BT 500.09 552.75 Td (duties ) Tj ET Q
q 0 0 0 rg BT 528.38 552.75 Td (owed ) Tj ET Q
q 0 0 0 rg BT 554.33 552.75 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (clients ) Tj ET Q
q 0 0 0 rg BT 79.89 540.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 93.36 540.15 Td (financial ) Tj ET Q
q 0 0 0 rg BT 133.07 540.15 Td (professionals ) Tj ET Q
q 0 0 0 rg BT 191.45 540.15 Td (who ) Tj ET Q
q 0 0 0 rg BT 212.51 540.15 Td (serve ) Tj ET Q
q 0 0 0 rg BT 237.64 540.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 248.78 540.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 261.67 540.15 Td (investment ) Tj ET Q
q 0 0 0 rg BT 310.72 540.15 Td (advisory ) Tj ET Q
q 0 0 0 rg BT 349.85 540.15 Td (capacity ) Tj ET Q
q 0 0 0 rg BT 387.81 540.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 409.45 540.15 Td (respect ) Tj ET Q
q 0 0 0 rg BT 442.16 540.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 453.30 540.15 Td (client ) Tj ET Q
q 0 0 0 rg BT 479.60 540.15 Td (accounts. ) Tj ET Q
q 0 0 0 rg BT 521.94 540.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 524.91 540.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 527.89 540.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 530.65 540.15 Td (W) Tj ET Q
q 0 0 0 rg BT 539.72 540.15 Td (e ) Tj ET Q
q 0 0 0 rg BT 547.35 540.15 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 65.54 527.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 88.00 527.55 Td (managers ) Tj ET Q
q 0 0 0 rg BT 130.28 527.55 Td (may ) Tj ET Q
q 0 0 0 rg BT 150.41 527.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 162.36 527.55 Td (adversely ) Tj ET Q
q 0 0 0 rg BT 204.64 527.55 Td (impacted ) Tj ET Q
q 0 0 0 rg BT 245.17 527.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 257.72 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 272.60 527.55 Td (SEC�) Tj ET Q
q 0 0 0 rg BT 294.77 527.55 Td (s ) Tj ET Q
q 0 0 0 rg BT 300.90 527.55 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 346.10 527.55 Td (initiatives ) Tj ET Q
q 0 0 0 rg BT 389.56 527.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 399.77 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 414.65 527.55 Td (retail ) Tj ET Q
q 0 0 0 rg BT 438.27 527.55 Td (investment ) Tj ET Q
q 0 0 0 rg BT 486.39 527.55 Td (space ) Tj ET Q
q 0 0 0 rg BT 511.76 527.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 521.97 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 536.85 527.55 Td (extent ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 66.86 514.95 Td (they ) Tj ET Q
q 0 0 0 rg BT 86.55 514.95 Td (lead ) Tj ET Q
q 0 0 0 rg BT 105.65 514.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 115.43 514.95 Td (changes ) Tj ET Q
q 0 0 0 rg BT 150.86 514.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 160.64 514.95 Td (investment ) Tj ET Q
q 0 0 0 rg BT 208.33 514.95 Td (preferences ) Tj ET Q
q 0 0 0 rg BT 258.32 514.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 270.43 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 284.87 514.95 Td (part ) Tj ET Q
q 0 0 0 rg BT 302.81 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 313.17 514.95 Td (financial ) Tj ET Q
q 0 0 0 rg BT 351.51 514.95 Td (intermediaries ) Tj ET Q
q 0 0 0 rg BT 413.19 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 429.96 514.95 Td (investors ) Tj ET Q
q 0 0 0 rg BT 469.49 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 486.26 514.95 Td (increased ) Tj ET Q
q 0 0 0 rg BT 527.51 514.95 Td (pressure ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 62.63 502.35 Td (product ) Tj ET Q
q 0 0 0 rg BT 97.32 502.35 Td (fees ) Tj ET Q
q 0 0 0 rg BT 116.85 502.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 134.64 502.35 Td (expenses.) Tj ET Q
BT /F4 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 477.15 Td (Alternative Investment Fund Managers Dir) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.08 477.15 Td (ective) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 451.95 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.47 451.95 Td (European ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.35 451.95 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.58 451.95 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.23 451.95 Td (impacted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.36 451.95 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.50 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.98 451.95 Td (EU ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.26 451.95 Td (Alternative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.13 451.95 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.43 451.95 Td (Fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.67 451.95 Td (Managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.71 451.95 Td (Directive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.42 451.95 Td (\(�AIFMD�\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.84 451.95 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (became ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.44 439.35 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.40 439.35 Td (fective ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.84 439.35 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.22 439.35 Td (July ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.60 439.35 Td (21, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.60 439.35 Td (201) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.96 439.35 Td (1. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.58 439.35 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.37 439.35 Td (AIFMD ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.08 439.35 Td (regulates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.86 439.35 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.97 439.35 Td (of, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.21 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.25 439.35 Td (service ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.86 439.35 Td (providers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.40 439.35 Td (to, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.06 439.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.60 439.35 Td (broad ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.38 439.35 Td (range ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.58 439.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.20 439.35 Td (alternative ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.57 426.75 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.90 426.75 Td (\(�AIFs�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.22 426.75 Td (domiciled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.21 426.75 Td (within ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.04 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.20 426.75 Td (\(depending ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.43 426.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.93 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.75 426.75 Td (precise ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.48 426.75 Td (circumstances\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.45 426.75 Td (outside ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.78 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.60 426.75 Td (EU. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.00 426.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.66 426.75 Td (AIFMD ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.98 414.15 Td (regulates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.45 414.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.84 414.15 Td (marketing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.98 414.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.30 414.15 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.79 414.15 Td (AIFs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.37 414.15 Td (inside ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.02 414.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.41 414.15 Td (European ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.21 414.15 Td (Economic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.78 414.15 Td (Area ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.75 414.15 Td (\(�EEA�\). ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.48 414.15 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.81 414.15 Td (AIFMD ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.21 414.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.79 414.15 Td (being ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.68 414.15 Td (implemented ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 401.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.94 401.55 Td (stages, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.51 401.55 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.44 401.55 Td (run ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.72 401.55 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.66 401.55 Td (2018. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.56 401.55 Td (Compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.57 401.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.51 401.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.67 401.55 Td (AIFMD�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.43 401.55 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.79 401.55 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.88 401.55 Td (restrict ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.31 401.55 Td (alternative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.90 401.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.25 401.55 Td (fund ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 388.95 Td (marketing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.79 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.67 388.95 Td (impose ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.71 388.95 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.42 388.95 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.54 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.41 388.95 Td (disclosure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.71 388.95 Td (obligations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.09 388.95 Td (regarding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.04 388.95 Td (remuneration, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.36 388.95 Td (capital ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.06 388.95 Td (requirements, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (leverage, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.99 376.35 Td (valuation, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.00 376.35 Td (stakes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.97 376.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.44 376.35 Td (EU ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.75 376.35 Td (companies, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.59 376.35 Td (depositaries, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.67 376.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.81 376.35 Td (domicile ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.86 376.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.92 376.35 Td (custodians ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.55 376.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.02 376.35 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.92 376.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.87 376.35 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.68 376.35 Td (us. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.78 376.35 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 552.85 376.35 Td (e ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.75 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.03 363.75 Td (incurred, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.35 363.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.22 363.75 Td (expect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.33 363.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.21 363.75 Td (continue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.08 363.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.96 363.75 Td (incur) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.11 363.75 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.45 363.75 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.15 363.75 Td (expenses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.76 363.75 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.04 363.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.92 363.75 Td (satisfying ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.46 363.75 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.75 363.75 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.95 363.75 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.06 363.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.93 363.75 Td (disclosure ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (obligations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.79 351.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.58 351.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.03 351.15 Td (associated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.81 351.15 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.18 351.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.45 351.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.24 351.15 Td (reporting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.35 351.15 Td (requirements.) Tj ET Q
BT /F4 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 325.95 Td (MiFID II) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 300.75 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 300.75 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.60 300.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.80 300.75 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.91 300.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.45 300.75 Td (numerous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.24 300.75 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.76 300.75 Td (reform ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.70 300.75 Td (initiatives ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.49 300.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.03 300.75 Td (Europe. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.10 300.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.80 300.75 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.76 300.75 Td (Kingdom ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.80 300.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.33 300.75 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.28 300.75 Td (European ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.15 Td (jurisdictions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.00 288.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.75 288.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.00 288.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.83 288.15 Td (operate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.31 288.15 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.72 288.15 Td (implemented ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.12 288.15 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.37 288.15 Td (national ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.78 288.15 Td (legislation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.11 288.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.52 288.15 Td (Markets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.52 288.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.27 288.15 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.93 288.15 Td (Instruments ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (Directive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.78 275.55 Td (\(�MiFID�\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.10 275.55 Td (which) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 168.76 275.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.97 275.55 Td (focused ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.84 275.55 Td (primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.13 275.55 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.84 275.55 Td (equities, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.33 275.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.71 275.55 Td (encourage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.06 275.55 Td (trading ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.02 275.55 Td (across ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.47 275.55 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.18 275.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.80 275.55 Td (classes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.17 275.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.55 275.55 Td (migrate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.83 275.55 Td (onto ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (open ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.57 262.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.39 262.95 Td (transparent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.69 262.95 Td (markets. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.21 262.95 Td (MiFID ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.05 262.95 Td (II, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.32 262.95 Td (which) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 253.98 262.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 257.64 262.95 Td (came ) Tj ET Q
q 0 0 0 rg BT 283.45 262.95 Td (into ) Tj ET Q
q 0 0 0 rg BT 303.44 262.95 Td (ef) Tj ET Q
q 0 0 0 rg BT 311.41 262.95 Td (fect ) Tj ET Q
q 0 0 0 rg BT 330.80 262.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 342.63 262.95 Td (January ) Tj ET Q
q 0 0 0 rg BT 378.94 262.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 406.23 262.95 Td (builds ) Tj ET Q
q 0 0 0 rg BT 435.56 262.95 Td (upon ) Tj ET Q
q 0 0 0 rg BT 460.21 262.95 Td (many ) Tj ET Q
q 0 0 0 rg BT 487.20 262.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 499.60 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 516.09 262.95 Td (initiatives ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 250.35 Td (introduced ) Tj ET Q
q 0 0 0 rg BT 97.01 250.35 Td (through ) Tj ET Q
q 0 0 0 rg BT 132.28 250.35 Td (MiFID) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.45 250.35 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.69 250.35 Td (MiFID ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.47 250.35 Td (II ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.07 250.35 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.67 250.35 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.60 250.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.37 250.35 Td (wide-ranging ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.96 250.35 Td (impacts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.23 250.35 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.33 250.35 Td (EU ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.94 250.35 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.20 250.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.96 250.35 Td (derivatives ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.64 250.35 Td (markets, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.75 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.14 237.75 Td (\(i\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.03 237.75 Td (enhanced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.66 237.75 Td (investor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.46 237.75 Td (protection ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.02 237.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.16 237.75 Td (governance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.52 237.75 Td (standards, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.79 237.75 Td (\(ii\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.60 237.75 Td (prescriptive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.14 237.75 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.53 237.75 Td (regarding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.74 237.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.55 237.75 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.36 237.75 Td (o) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 530.61 237.75 Td (f ) Tj ET Q
q 0 0 0 rg BT 537.09 237.75 Td (asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 225.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 105.87 225.15 Td (firms ) Tj ET Q
q 0 0 0 rg BT 130.75 225.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 133.47 225.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 144.36 225.15 Td (receive ) Tj ET Q
q 0 0 0 rg BT 177.39 225.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 195.27 225.15 Td (pay ) Tj ET Q
q 0 0 0 rg BT 213.15 225.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 228.12 225.15 Td (investment ) Tj ET Q
q 0 0 0 rg BT 276.92 225.15 Td (research ) Tj ET Q
q 0 0 0 rg BT 314.61 225.15 Td (relating ) Tj ET Q
q 0 0 0 rg BT 349.40 225.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 360.29 225.15 Td (all ) Tj ET Q
q 0 0 0 rg BT 373.51 225.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 396.64 225.15 Td (classes, ) Tj ET Q
q 0 0 0 rg BT 431.14 225.15 Td (\(iii\) ) Tj ET Q
q 0 0 0 rg BT 449.61 225.15 Td (rules ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.22 678.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.37 678.75 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.94 678.75 Td (nonmonetary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.33 678.75 Td (benefits ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.57 678.75 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.97 678.75 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.21 678.75 Td (managers. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.84 678.75 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.91 678.75 Td (rules, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.94 678.75 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.34 678.75 Td (implemented, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.78 678.75 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.85 678.75 Td (lead ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.33 678.75 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 666.15 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.70 666.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.25 666.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.47 666.15 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.76 666.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.30 666.15 Td (commissions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.52 666.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.15 666.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.35 666.15 Td (able ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.23 666.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.78 666.15 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.66 666.15 Td (ge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.95 666.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.50 666.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.89 666.15 Td (clients, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.30 666.15 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.44 666.15 Td (well ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.90 666.15 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.03 666.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.58 666.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.96 666.15 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.67 666.15 Td (servicing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.54 666.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.09 666.15 Td (distribution ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 653.55 Td (models.) Tj ET Q
BT /F4 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 628.35 Td (Undertakings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.29 628.35 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.17 628.35 Td (Collective ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.36 628.35 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.46 628.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.26 628.35 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.52 628.35 Td (ransferable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.56 628.35 Td (Securities) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 603.15 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.54 603.15 Td (EU ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.25 603.15 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.97 603.15 Td (adopted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.92 603.15 Td (directives ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.45 603.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.67 603.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.21 603.15 Td (coordination ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.00 603.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.46 603.15 Td (laws, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.05 603.15 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.42 603.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.30 603.15 Td (administrative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.09 603.15 Td (provisions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.56 603.15 Td (relating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.34 603.15 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 590.55 Td (undertakings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.46 590.55 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.41 590.55 Td (collective ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.94 590.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.74 590.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.62 590.55 Td (transferable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.89 590.55 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.26 590.55 Td (\(�UCITS�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.63 590.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.01 590.55 Td (respect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.46 590.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.34 590.55 Td (depositary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.80 590.55 Td (functions, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 577.95 Td (remuneration ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.85 577.95 Td (policies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.88 577.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.41 577.95 Td (sanctions. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.49 577.95 Td (UCITS ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.02 577.95 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.25 577.95 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.25 577.95 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.28 577.95 Td (came ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.80 577.95 Td (into ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.51 577.95 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.48 577.95 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.58 577.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.12 577.95 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.90 577.95 Td (2016 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.27 577.95 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.31 577.95 Td (further ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.25 577.95 Td (measures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.69 577.95 Td (implemented ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.24 565.35 Td (October ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.64 565.35 Td (2016, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.84 565.35 Td (seeks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.16 565.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.90 565.35 Td (align ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.48 565.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.88 565.35 Td (depositary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.19 565.35 Td (regime, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.55 565.35 Td (remuneration ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.10 565.35 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.09 565.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.83 565.35 Td (sanctioning ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.81 565.35 Td (powers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.72 565.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.04 565.35 Td (regulators ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.60 565.35 Td (under ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (UCITS ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.83 552.75 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.50 552.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.33 552.75 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.14 552.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.88 552.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.27 552.75 Td (AIFMD. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.73 552.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.48 552.75 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.51 552.75 Td (ESMA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.11 552.75 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.10 552.75 Td (guidelines ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.26 552.75 Td (include ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.17 552.75 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.58 552.75 Td (relating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.64 552.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.81 552.75 Td (collateral ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.87 552.75 Td (management ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.79 540.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.51 540.15 Td (UCITS ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.32 540.15 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.13 540.15 Td (concerning ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.25 540.15 Td (collateral ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.79 540.15 Td (received ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.82 540.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.46 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.77 540.15 Td (context ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.15 540.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.37 540.15 Td (derivatives ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.92 540.15 Td (using ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.15 540.15 Td (Ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.87 540.15 Td (ficient ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.17 540.15 Td (Portfolio ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (Management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.82 527.55 Td (\(�EPM�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.24 527.55 Td (techniques ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.65 527.55 Td (\(including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.32 527.55 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.48 527.55 Td (lending\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.99 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.66 527.55 Td (over) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.10 527.55 Td (-the-counter ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.92 527.55 Td (derivative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.41 527.55 Td (transactions. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.52 527.55 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.10 527.55 Td (rules ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.82 514.95 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.50 514.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.01 514.95 Td (make ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.09 514.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.09 514.95 Td (series ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.34 514.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.43 514.95 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.59 514.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.10 514.95 Td (collateral ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.50 514.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.48 514.95 Td (arrangements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.38 514.95 Td (applicable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.87 514.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.38 514.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.55 514.95 Td (EPM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.48 514.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.57 514.95 Td (UCITS ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.25 514.95 Td (fund ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (ranges ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.53 502.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.31 502.35 Td (cause ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.26 502.35 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.22 502.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.01 502.35 Td (incur ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.21 502.35 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.83 502.35 Td (expenses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.36 502.35 Td (associated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.13 502.35 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.43 502.35 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.80 502.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.07 502.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.86 502.35 Td (reporting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.97 502.35 Td (requirements.) Tj ET Q
BT /F4 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 477.15 Td (Revised ) Tj ET Q
q 0 0 0 rg BT 120.77 477.15 Td (EU ) Tj ET Q
q 0 0 0 rg BT 137.40 477.15 Td (Capital ) Tj ET Q
q 0 0 0 rg BT 171.53 477.15 Td (Requir) Tj ET Q
q 0 0 0 rg BT 199.72 477.15 Td (ements ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 451.95 Td (EU ) Tj ET Q
q 0 0 0 rg BT 100.91 451.95 Td (regulators ) Tj ET Q
q 0 0 0 rg BT 144.31 451.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 158.55 451.95 Td (considering ) Tj ET Q
q 0 0 0 rg BT 208.95 451.95 Td (how ) Tj ET Q
q 0 0 0 rg BT 228.45 451.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 238.03 451.95 Td (design ) Tj ET Q
q 0 0 0 rg BT 266.86 451.95 Td (an ) Tj ET Q
q 0 0 0 rg BT 278.19 451.95 Td (appropriate ) Tj ET Q
q 0 0 0 rg BT 327.41 451.95 Td (capital ) Tj ET Q
q 0 0 0 rg BT 356.81 451.95 Td (regime ) Tj ET Q
q 0 0 0 rg BT 387.38 451.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 401.04 451.95 Td (non-systemically ) Tj ET Q
q 0 0 0 rg BT 474.19 451.95 Td (important ) Tj ET Q
q 0 0 0 rg BT 516.43 451.95 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (firms ) Tj ET Q
q 0 0 0 rg BT 74.52 439.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 86.13 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 101.81 439.35 Td (current ) Tj ET Q
q 0 0 0 rg BT 134.41 439.35 Td (regime ) Tj ET Q
q 0 0 0 rg BT 166.42 439.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 176.28 439.35 Td (based ) Tj ET Q
q 0 0 0 rg BT 203.04 439.35 Td (upon ) Tj ET Q
q 0 0 0 rg BT 226.90 439.35 Td (banking ) Tj ET Q
q 0 0 0 rg BT 263.59 439.35 Td (requirements ) Tj ET Q
q 0 0 0 rg BT 321.26 439.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 339.28 439.35 Td (has ) Tj ET Q
q 0 0 0 rg BT 356.14 439.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 372.41 439.35 Td (been ) Tj ET Q
q 0 0 0 rg BT 395.09 439.35 Td (materially ) Tj ET Q
q 0 0 0 rg BT 440.52 439.35 Td (modified ) Tj ET Q
q 0 0 0 rg BT 481.28 439.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 496.39 439.35 Td (asset ) Tj ET Q
q 0 0 0 rg BT 519.66 439.35 Td (managers. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (In ) Tj ET Q
q 0 0 0 rg BT 61.13 426.75 Td (December ) Tj ET Q
q 0 0 0 rg BT 107.15 426.75 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 133.66 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 149.37 426.75 Td (European ) Tj ET Q
q 0 0 0 rg BT 192.49 426.75 Td (Commission ) Tj ET Q
q 0 0 0 rg BT 248.47 426.75 Td (published ) Tj ET Q
q 0 0 0 rg BT 292.19 426.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 299.73 426.75 Td (legislative ) Tj ET Q
q 0 0 0 rg BT 345.77 426.75 Td (proposal ) Tj ET Q
q 0 0 0 rg BT 384.81 426.75 Td (addressed ) Tj ET Q
q 0 0 0 rg BT 429.10 426.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 440.15 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 455.86 426.75 Td (European ) Tj ET Q
q 0 0 0 rg BT 498.98 426.75 Td (Parliament ) Tj ET Q
q 0 0 0 rg BT 547.35 426.75 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (Council ) Tj ET Q
q 0 0 0 rg BT 84.55 414.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 98.59 414.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 105.04 414.15 Td (new ) Tj ET Q
q 0 0 0 rg BT 124.33 414.15 Td (Directive ) Tj ET Q
q 0 0 0 rg BT 165.19 414.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 182.15 414.15 Td (new ) Tj ET Q
q 0 0 0 rg BT 201.44 414.15 Td (Regulation ) Tj ET Q
q 0 0 0 rg BT 249.32 414.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 261.61 414.15 Td (prudential ) Tj ET Q
q 0 0 0 rg BT 305.98 414.15 Td (requirements ) Tj ET Q
q 0 0 0 rg BT 362.59 414.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 376.63 414.15 Td (MiFID ) Tj ET Q
q 0 0 0 rg BT 407.60 414.15 Td (investment ) Tj ET Q
q 0 0 0 rg BT 455.48 414.15 Td (firms. ) Tj ET Q
q 0 0 0 rg BT 481.93 414.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 500.06 414.15 Td (new ) Tj ET Q
q 0 0 0 rg BT 519.35 414.15 Td (legislative ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (package ) Tj ET Q
q 0 0 0 rg BT 85.49 401.55 Td (is ) Tj ET Q
q 0 0 0 rg BT 94.09 401.55 Td (currently ) Tj ET Q
q 0 0 0 rg BT 133.59 401.55 Td (expected ) Tj ET Q
q 0 0 0 rg BT 172.50 401.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 182.26 401.55 Td (come ) Tj ET Q
q 0 0 0 rg BT 206.60 401.55 Td (into ) Tj ET Q
q 0 0 0 rg BT 224.53 401.55 Td (ef) Tj ET Q
q 0 0 0 rg BT 232.50 401.55 Td (fect ) Tj ET Q
q 0 0 0 rg BT 249.84 401.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 259.60 401.55 Td (2020 ) Tj ET Q
q 0 0 0 rg BT 282.20 401.55 Td (following ) Tj ET Q
q 0 0 0 rg BT 324.63 401.55 Td (agreement ) Tj ET Q
q 0 0 0 rg BT 369.95 401.55 Td (between ) Tj ET Q
q 0 0 0 rg BT 406.53 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 420.96 401.55 Td (European ) Tj ET Q
q 0 0 0 rg BT 462.79 401.55 Td (Council ) Tj ET Q
q 0 0 0 rg BT 497.64 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 514.39 401.55 Td (Parliament. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (Once ) Tj ET Q
q 0 0 0 rg BT 75.05 388.95 Td (implemented, ) Tj ET Q
q 0 0 0 rg BT 135.89 388.95 Td (any ) Tj ET Q
q 0 0 0 rg BT 154.45 388.95 Td (new ) Tj ET Q
q 0 0 0 rg BT 175.34 388.95 Td (requirements ) Tj ET Q
q 0 0 0 rg BT 233.55 388.95 Td (could ) Tj ET Q
q 0 0 0 rg BT 260.27 388.95 Td (result ) Tj ET Q
q 0 0 0 rg BT 287.00 388.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 298.56 388.95 Td (significant ) Tj ET Q
q 0 0 0 rg BT 346.28 388.95 Td (changes ) Tj ET Q
q 0 0 0 rg BT 383.50 388.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 395.06 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 411.29 388.95 Td (methodology ) Tj ET Q
q 0 0 0 rg BT 470.10 388.95 Td (used ) Tj ET Q
q 0 0 0 rg BT 492.74 388.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 504.30 388.95 Td (determine ) Tj ET Q
q 0 0 0 rg BT 549.68 388.95 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (amount ) Tj ET Q
q 0 0 0 rg BT 83.62 376.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 94.99 376.35 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 140.77 376.35 Td (capital ) Tj ET Q
q 0 0 0 rg BT 171.38 376.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 189.75 376.35 Td (we ) Tj ET Q
q 0 0 0 rg BT 204.62 376.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 220.06 376.35 Td (required ) Tj ET Q
q 0 0 0 rg BT 257.67 376.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 268.46 376.35 Td (hold ) Tj ET Q
q 0 0 0 rg BT 289.75 376.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 300.54 376.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 316.00 376.35 Td (EU.) Tj ET Q
BT /F4 10.50 Tf ET
q 0 0 0 rg BT 85.50 351.15 Td (Revised ) Tj ET Q
q 0 0 0 rg BT 120.77 351.15 Td (Retail ) Tj ET Q
q 0 0 0 rg BT 148.48 351.15 Td (Consumer ) Tj ET Q
q 0 0 0 rg BT 194.27 351.15 Td (Disclosur) Tj ET Q
q 0 0 0 rg BT 234.72 351.15 Td (e ) Tj ET Q
q 0 0 0 rg BT 242.01 351.15 Td (Requir) Tj ET Q
q 0 0 0 rg BT 270.19 351.15 Td (ements ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 325.95 Td (EU ) Tj ET Q
q 0 0 0 rg BT 102.63 325.95 Td (legislators ) Tj ET Q
q 0 0 0 rg BT 148.92 325.95 Td (have ) Tj ET Q
q 0 0 0 rg BT 171.87 325.95 Td (introduced ) Tj ET Q
q 0 0 0 rg BT 219.91 325.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 227.70 325.95 Td (new ) Tj ET Q
q 0 0 0 rg BT 248.32 325.95 Td (�Key ) Tj ET Q
q 0 0 0 rg BT 273.61 325.95 Td (Information ) Tj ET Q
q 0 0 0 rg BT 326.89 325.95 Td (Document� ) Tj ET Q
q 0 0 0 rg BT 378.43 325.95 Td (\(�KID�\), ) Tj ET Q
q 0 0 0 rg BT 419.16 325.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 447.95 325.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 458.09 325.95 Td (applicable ) Tj ET Q
q 0 0 0 rg BT 504.36 325.95 Td (where ) Tj ET Q
q 0 0 0 rg BT 533.15 325.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 540.94 325.95 Td (retail ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (consumer ) Tj ET Q
q 0 0 0 rg BT 91.93 313.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 100.54 313.35 Td (sold ) Tj ET Q
q 0 0 0 rg BT 119.64 313.35 Td (Packaged ) Tj ET Q
q 0 0 0 rg BT 161.48 313.35 Td (Retail ) Tj ET Q
q 0 0 0 rg BT 188.16 313.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 204.93 313.35 Td (Insurance-based ) Tj ET Q
q 0 0 0 rg BT 274.75 313.35 Td (Investment ) Tj ET Q
q 0 0 0 rg BT 323.01 313.35 Td (Products ) Tj ET Q
q 0 0 0 rg BT 361.37 313.35 Td (\(�PRIIPs�\) ) Tj ET Q
q 0 0 0 rg BT 409.05 313.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 425.82 313.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 453.08 313.35 Td (came ) Tj ET Q
q 0 0 0 rg BT 476.84 313.35 Td (into ) Tj ET Q
q 0 0 0 rg BT 494.78 313.35 Td (ef) Tj ET Q
q 0 0 0 rg BT 502.74 313.35 Td (fect ) Tj ET Q
q 0 0 0 rg BT 520.08 313.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 529.86 313.35 Td (January ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (2018. ) Tj ET Q
q 0 0 0 rg BT 75.93 300.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 95.27 300.75 Td (KID ) Tj ET Q
q 0 0 0 rg BT 116.96 300.75 Td (must ) Tj ET Q
q 0 0 0 rg BT 140.40 300.75 Td (include ) Tj ET Q
q 0 0 0 rg BT 174.33 300.75 Td (specific ) Tj ET Q
q 0 0 0 rg BT 210.00 300.75 Td (information ) Tj ET Q
q 0 0 0 rg BT 262.59 300.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 276.11 300.75 Td (costs, ) Tj ET Q
q 0 0 0 rg BT 302.76 300.75 Td (risks ) Tj ET Q
q 0 0 0 rg BT 325.62 300.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 343.80 300.75 Td (performance. ) Tj ET Q
q 0 0 0 rg BT 402.28 300.75 Td (W) Tj ET Q
q 0 0 0 rg BT 411.35 300.75 Td (e ) Tj ET Q
q 0 0 0 rg BT 419.03 300.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 434.87 300.75 Td (required ) Tj ET Q
q 0 0 0 rg BT 472.87 300.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 484.06 300.75 Td (produce ) Tj ET Q
q 0 0 0 rg BT 520.90 300.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 528.58 300.75 Td (KID ) Tj ET Q
q 0 0 0 rg BT 550.26 300.75 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (each ) Tj ET Q
q 0 0 0 rg BT 71.36 288.15 Td (fund ) Tj ET Q
q 0 0 0 rg BT 93.23 288.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 104.02 288.15 Td (scope, ) Tj ET Q
q 0 0 0 rg BT 133.18 288.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 144.55 288.15 Td (well ) Tj ET Q
q 0 0 0 rg BT 165.25 288.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 176.63 288.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 187.42 288.15 Td (make ) Tj ET Q
q 0 0 0 rg BT 212.78 288.15 Td (information ) Tj ET Q
q 0 0 0 rg BT 264.98 288.15 Td (available ) Tj ET Q
q 0 0 0 rg BT 305.50 288.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 316.29 288.15 Td (distribution ) Tj ET Q
q 0 0 0 rg BT 367.34 288.15 Td (partners ) Tj ET Q
q 0 0 0 rg BT 403.78 288.15 Td (who ) Tj ET Q
q 0 0 0 rg BT 424.49 288.15 Td (sell ) Tj ET Q
q 0 0 0 rg BT 441.70 288.15 Td (these ) Tj ET Q
q 0 0 0 rg BT 465.90 288.15 Td (funds ) Tj ET Q
q 0 0 0 rg BT 491.86 288.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 502.65 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 518.10 288.15 Td (EU.) Tj ET Q
BT /F4 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 262.95 Td (British Exit fr) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.86 262.95 Td (om the Eur) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.14 262.95 Td (opean Union) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 237.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.14 237.75 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.04 237.75 Td (Kingdom ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.02 237.75 Td (\(�U.K.�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.07 237.75 Td (held ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.47 237.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.44 237.75 Td (referendum ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.15 237.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.64 237.75 Td (June ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.20 237.75 Td (2016 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.52 237.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.00 237.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.98 237.75 Td (voters ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.96 237.75 Td (approved ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.35 237.75 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.57 237.75 Td (exit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.64 237.75 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.36 237.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.51 237.75 Td (EU ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.15 Td (\("Brexit"\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.32 225.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.37 225.15 Td (resulted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.99 225.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.54 225.15 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.25 225.15 Td (volatility ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.55 225.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.10 225.15 Td (several ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.22 225.15 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.67 225.15 Td (markets. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.92 225.15 Td (On ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.13 225.15 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.92 225.15 Td (29, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.43 225.15 Td (2017, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.44 225.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.65 225.15 Td (U.K. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.45 225.15 Td (delivered ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 212.55 Td (notice ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.84 212.55 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.84 212.55 Td (Article ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.67 212.55 Td (50 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.86 212.55 Td (of ) Tj ET Q
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q 0 0 0 rg BT 128.04 741.75 Td (support ) Tj ET Q
q 0 0 0 rg BT 162.39 741.75 Td (staf) Tj ET Q
q 0 0 0 rg BT 177.37 741.75 Td (f ) Tj ET Q
q 0 0 0 rg BT 183.71 741.75 Td (between ) Tj ET Q
q 0 0 0 rg BT 221.55 741.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 237.23 741.75 Td (UK ) Tj ET Q
q 0 0 0 rg BT 255.25 741.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 273.26 741.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 288.94 741.75 Td (EU. ) Tj ET Q
q 0 0 0 rg BT 308.41 741.75 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.06 741.75 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.13 741.75 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.64 741.75 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.83 741.75 Td (continue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.84 741.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.86 741.75 Td (monitor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.96 741.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.64 741.75 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.23 741.75 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.66 741.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.26 741.75 Td (Brexit ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 729.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 62.63 729.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.25 729.15 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.46 729.15 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.82 729.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.61 729.15 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.96 729.15 Td (condition.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 703.95 Td (Existing U.S. Regulation) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 678.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.03 678.75 Td (SEC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.49 678.75 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.70 678.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.73 678.75 Td (federal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.07 678.75 Td (agency ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.01 678.75 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.89 678.75 Td (ged ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.25 678.75 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.12 678.75 Td (administration ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.98 678.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.93 678.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.96 678.75 Td (federal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.31 678.75 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.17 678.75 Td (laws. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.24 678.75 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.77 678.75 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.65 678.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.27 678.75 Td (managers ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 666.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.47 666.15 Td (registered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.02 666.15 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.93 666.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.16 666.15 Td (advisers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.72 666.15 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.54 666.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.53 666.15 Td (SEC, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.56 666.15 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.47 666.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.44 666.15 Td (several ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.33 666.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.23 666.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.38 666.15 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.60 666.15 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.17 666.15 Td (managers, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.18 666.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.49 666.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.47 666.15 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.54 666.15 Td (required ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 653.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.15 653.55 Td (make ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.36 653.55 Td (notice ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.50 653.55 Td (filings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.81 653.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.45 653.55 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.49 653.55 Td (states. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.75 653.55 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.82 653.55 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.96 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.59 653.55 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.63 653.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.86 653.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.33 653.55 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.30 653.55 Td (filiates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.35 653.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.65 653.55 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.04 653.55 Td (currently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.42 653.55 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.64 653.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.28 653.55 Td (regulation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.33 653.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.31 653.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.61 653.55 Td (SEC, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.04 640.95 Td (Department ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.31 640.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.76 640.95 Td (Labor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.54 640.95 Td (\(the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.58 640.95 Td (�DOL�\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.31 640.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.85 640.95 Td (Federal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.04 640.95 Td (Reserve, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.19 640.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.73 640.95 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.51 640.95 Td (Industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.22 640.95 Td (Regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.98 640.95 Td (Authority ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.52 640.95 Td (\(�FINRA�\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.68 640.95 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.35 Td (National ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.87 628.35 Td (Futures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.87 628.35 Td (Association ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.66 628.35 Td (\(�NF) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.47 628.35 Td (A�\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.04 628.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.08 628.35 Td (CFTC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.56 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.93 628.35 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.71 628.35 Td (government ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.08 628.35 Td (agencies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.44 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.81 628.35 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.17 628.35 Td (bodies. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.42 628.35 Td (Certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.54 628.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.50 628.35 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.75 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 57.47 615.75 Td (filiates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.84 615.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.46 615.75 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.17 615.75 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.71 615.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.67 615.75 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.38 615.75 Td (anti-terrorist ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.66 615.75 Td (financing, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.74 615.75 Td (privacy) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.54 615.75 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.96 615.75 Td (anti-money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.58 615.75 Td (laundering ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.28 615.75 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.74 615.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.70 615.75 Td (economic ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.15 Td (sanctions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.20 603.15 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.08 603.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.86 603.15 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.14 603.15 Td (established ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.43 603.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.55 603.15 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.09 603.15 Td (agencies.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 577.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.06 577.95 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.24 577.95 Td (Advisers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.10 577.95 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.50 577.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.48 577.95 Td (1940 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.72 577.95 Td (imposes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.38 577.95 Td (numerous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.03 577.95 Td (obligations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.94 577.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.68 577.95 Td (registered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.31 577.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.63 577.95 Td (advisers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.27 577.95 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.76 577.95 Td (as ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.35 565.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.38 565.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.67 565.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.36 565.35 Td (managers, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.51 565.35 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.46 565.35 Td (recordkeeping, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.42 565.35 Td (operational ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.94 565.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.39 565.35 Td (marketing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.25 565.35 Td (requirements, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.97 565.35 Td (disclosure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.83 565.35 Td (obligations ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.56 552.75 Td (prohibitions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.20 552.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.60 552.75 Td (fraudulent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.65 552.75 Td (activities. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.93 552.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.15 552.75 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.71 552.75 Td (Company ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.02 552.75 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.07 552.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.71 552.75 Td (1940 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.61 552.75 Td (imposes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.92 552.75 Td (stringent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.57 552.75 Td (governance, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.48 552.75 Td (compliance, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (operational, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.38 540.15 Td (disclosure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.97 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.15 540.15 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.73 540.15 Td (obligations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.42 540.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.94 540.15 Td (registered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.35 540.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.45 540.15 Td (companies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.37 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.55 540.15 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.81 540.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.91 540.15 Td (advisers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.34 540.15 Td (and) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 557.50 540.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (distributors. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.98 527.55 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.47 527.55 Td (SEC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.90 527.55 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.08 527.55 Td (authorized ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.57 527.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.91 527.55 Td (institute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.91 527.55 Td (proceedings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.82 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.15 527.55 Td (impose ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.65 527.55 Td (sanctions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.91 527.55 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.32 527.55 Td (violations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.91 527.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.83 527.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.83 527.55 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.18 527.55 Td (Advisers ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.78 514.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.65 514.95 Td (1940 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.78 514.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.06 514.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.01 514.95 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.79 514.95 Td (Company ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.06 514.95 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.35 514.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.22 514.95 Td (1940, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.96 514.95 Td (ranging ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.16 514.95 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.70 514.95 Td (fines ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.23 514.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.52 514.95 Td (censure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.70 514.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.99 514.95 Td (termination ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.52 514.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.39 514.95 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.43 514.95 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (adviser) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.21 502.35 Td (�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.13 502.35 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.36 502.35 Td (registration. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.95 502.35 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.75 502.35 Td (advisers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.30 502.35 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.36 502.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.32 502.35 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.20 502.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.51 502.35 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.22 502.35 Td (state ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.61 502.35 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.40 502.35 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.79 502.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.10 502.35 Td (regulations. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.52 502.35 Td (Non-compliance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 489.75 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.73 489.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.12 489.75 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.77 489.75 Td (Advisers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.10 489.75 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.82 489.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.13 489.75 Td (1940, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.32 489.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.71 489.75 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.93 489.75 Td (Company ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.76 489.75 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.48 489.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.79 489.75 Td (1940 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.35 489.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.66 489.75 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.80 489.75 Td (federal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.50 489.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.22 489.75 Td (state ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.03 489.75 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.24 489.75 Td (laws ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.29 477.15 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.57 477.15 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.52 477.15 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.47 477.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.27 477.15 Td (investigations, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.85 477.15 Td (sanctions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.18 477.15 Td (disgor) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.24 477.15 Td (gement, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.39 477.15 Td (fines ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.43 477.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.22 477.15 Td (reputational ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.99 477.15 Td (damage.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 451.95 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.51 451.95 Td (trading ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.93 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.77 451.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.52 451.95 Td (activities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.10 451.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.03 451.95 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.03 451.95 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.44 451.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.94 451.95 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.53 451.95 Td (regulated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.27 451.95 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.85 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.36 451.95 Td (Securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.45 451.95 Td (Exchange ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.93 451.95 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.77 451.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (1934 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.96 439.35 Td (\(the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.75 439.35 Td (�Exchange ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.51 439.35 Td (Act�\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.91 439.35 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.12 439.35 Td (well ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.67 439.35 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.88 439.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.17 439.35 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.04 439.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.25 439.35 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.63 439.35 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.76 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.39 439.35 Td (non-U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.77 439.35 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.89 439.35 Td (exchanges ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.08 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.70 439.35 Td (self-regulatory ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (or) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 58.06 426.75 Td (ganizations, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.04 426.75 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.23 426.75 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.01 426.75 Td (governing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.12 426.75 Td (trading ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.40 426.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.43 426.75 Td (inside ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.04 426.75 Td (information, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.78 426.75 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.46 426.75 Td (manipulation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.40 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.10 426.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.29 426.75 Td (broad ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.73 426.75 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.34 426.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.62 426.75 Td (technical ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.94 414.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.72 414.15 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.50 414.15 Td (regulation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.70 414.15 Td (policies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.98 414.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.78 414.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.23 414.15 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.43 414.15 Td (States ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.14 414.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.93 414.15 Td (globally) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.66 414.15 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 388.95 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.32 388.95 Td (broker) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.51 388.95 Td (-dealer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.14 388.95 Td (subsidiaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.21 388.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.51 388.95 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.75 388.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.40 388.95 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.54 388.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.78 388.95 Td (cover ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.58 388.95 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.57 388.95 Td (aspects ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.38 388.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.61 388.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.93 388.95 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.07 388.95 Td (business. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.77 388.95 Td (Much ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.75 388.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.74 376.35 Td (regulation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.73 376.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.89 376.35 Td (broker) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.08 376.35 Td (-dealers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.72 376.35 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.13 376.35 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.37 376.35 Td (delegated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.01 376.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.59 376.35 Td (self-regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.81 376.35 Td (or) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.37 376.35 Td (ganizations, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.23 376.35 Td (principally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.13 376.35 Td (FINRA. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.35 376.35 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.84 376.35 Td (self-) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.75 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.13 363.75 Td (or) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.69 363.75 Td (ganizations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.00 363.75 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.30 363.75 Td (adopted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.03 363.75 Td (extensive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.17 363.75 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.80 363.75 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.10 363.75 Td (relating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.66 363.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.31 363.75 Td (matters ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.70 363.75 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.43 363.75 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.67 363.75 Td (sales ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.56 363.75 Td (practices, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (compensation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.28 351.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.90 351.15 Td (disclosure, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.56 351.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.18 351.15 Td (conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.87 351.15 Td (periodic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.74 351.15 Td (examinations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.18 351.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.39 351.15 Td (member ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.25 351.15 Td (broker) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.44 351.15 Td (-dealers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.13 351.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.76 351.15 Td (accordance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.42 351.15 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.55 351.15 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 539.42 351.15 Td (they ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.55 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.66 338.55 Td (adopted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.24 338.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.74 338.55 Td (amended ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.98 338.55 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.73 338.55 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.73 338.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.24 338.55 Td (time, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.86 338.55 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.95 338.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.45 338.55 Td (approval ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.53 338.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.37 338.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.53 338.55 Td (SEC. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.59 338.55 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.25 338.55 Td (SEC, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.47 338.55 Td (self-regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.62 338.55 Td (or) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.18 338.55 Td (ganizations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.34 338.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 325.95 Td (state ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.15 325.95 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.20 325.95 Td (commissions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.44 325.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.92 325.95 Td (conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.56 325.95 Td (administrative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.04 325.95 Td (proceedings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.17 325.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.32 325.95 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.29 325.95 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.02 325.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.59 325.95 Td (censure, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.69 325.95 Td (fine, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.04 325.95 Td (suspension ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.53 325.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.68 325.95 Td (expulsion ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.84 313.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.09 313.35 Td (broker) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.28 313.35 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.37 313.35 Td (dealer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.60 313.35 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.81 313.35 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.33 313.35 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.88 313.35 Td (ficers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.79 313.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.13 313.35 Td (registered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.12 313.35 Td (employees. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.98 313.35 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.64 313.35 Td (administrative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.30 313.35 Td (proceedings, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.25 313.35 Td (whether ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.66 313.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.00 313.35 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.01 313.35 Td (resulting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.35 313.35 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (adverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.47 300.75 Td (findings, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.42 300.75 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.89 300.75 Td (require ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.53 300.75 Td (substantial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.35 300.75 Td (expenditures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.90 300.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.97 300.75 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.44 300.75 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.17 300.75 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.98 300.75 Td (adverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.95 300.75 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.43 300.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.83 300.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.57 300.75 Td (reputation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.04 300.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.69 300.75 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.18 300.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 552.83 300.75 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.15 Td (broker) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.69 288.15 Td (-dealer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.26 288.15 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.36 288.15 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.43 288.15 Td (principal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.50 288.15 Td (purpose ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.50 288.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.99 288.15 Td (regulation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.31 288.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.22 288.15 Td (discipline ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.80 288.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.29 288.15 Td (broker) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.49 288.15 Td (-dealers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.47 288.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.22 288.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.80 288.15 Td (protection ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.11 288.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.61 288.15 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.77 288.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.68 288.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.78 275.55 Td (markets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.27 275.55 Td (rather ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.38 275.55 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.08 275.55 Td (protection ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.27 275.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.65 275.55 Td (creditors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.01 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.79 275.55 Td (stockholders ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.49 275.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.86 275.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.32 275.55 Td (regulated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.01 275.55 Td (entity) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.24 275.55 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 250.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.72 250.35 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.23 250.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.70 250.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.58 250.35 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.29 250.35 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.68 250.35 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.23 250.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.61 250.35 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.83 250.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.47 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.77 250.35 Td (Employee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.81 250.35 Td (Retirement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.93 250.35 Td (Income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.89 250.35 Td (Security ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.81 250.35 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.45 250.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.66 250.35 Td (1974, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.76 250.35 Td (as ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.75 Td (amended ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.75 237.75 Td (\(�ERISA�\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.38 237.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.90 237.75 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.81 237.75 Td (regulations, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.45 237.75 Td (particularly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.19 237.75 Td (insofar ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.71 237.75 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.81 237.75 Td (they ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.24 237.75 Td (act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.83 237.75 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.93 237.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.94 237.75 Td (�fiduciary� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.52 237.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.62 237.75 Td (�investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.71 237.75 Td (manager� ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.15 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.57 225.15 Td (ERISA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.32 225.15 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.48 225.15 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.31 225.15 Td (respect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.20 225.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.53 225.15 Td (benefit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.84 225.15 Td (plan ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.08 225.15 Td (clients. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.28 225.15 Td (ERISA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.03 225.15 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.19 225.15 Td (imposes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.77 225.15 Td (duties ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.01 225.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.67 225.15 Td (persons ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.91 225.15 Td (who ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.15 225.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.13 225.15 Td (fiduciaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.61 225.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.51 225.15 Td (ERISA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.27 225.15 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 539.43 225.15 Td (plan ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 212.55 Td (clients, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.22 212.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.06 212.55 Td (ERISA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.82 212.55 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.50 212.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.34 212.55 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.59 212.55 Td (provisions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.02 212.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.45 212.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.96 212.55 Td (Internal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.29 212.55 Td (Revenue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.71 212.55 Td (Code ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.55 212.55 Td (prohibit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.48 212.55 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.73 212.55 Td (transactions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.56 212.55 Td (involving ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.50 212.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.01 212.55 Td (assets ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 199.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.73 199.95 Td (ERISA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.49 199.95 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.97 199.95 Td (plan ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.53 199.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.17 199.95 Td (Individual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.81 199.95 Td (Retirement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.40 199.95 Td (Account ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.45 199.95 Td (\(�IRA�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.33 199.95 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.22 199.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.86 199.95 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.91 199.95 Td (transactions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.54 199.95 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.52 199.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.83 199.95 Td (fiduciaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.63 199.95 Td (\(and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.77 199.95 Td (several ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 187.35 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.38 187.35 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.25 187.35 Td (parties\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.05 187.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.52 187.35 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.07 187.35 Td (clients. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.42 187.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.74 187.35 Td (April ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.21 187.35 Td (2016, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.14 187.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.28 187.35 Td (Department ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.15 187.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.20 187.35 Td (Labor) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.85 187.35 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.79 187.35 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.76 187.35 Td (administers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.47 187.35 Td (ERISA, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.74 187.35 Td (issued ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.30 187.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.27 187.35 Td (final ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 174.75 Td (fiduciary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.28 174.75 Td (rule ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.49 174.75 Td (expanding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.12 174.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.83 174.75 Td (circumstances ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.19 174.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.25 174.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.79 174.75 Td (advice ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.08 174.75 Td (furnished ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.62 174.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.67 174.75 Td (retirement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.70 174.75 Td (investors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.50 174.75 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.72 174.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.52 174.75 Td (treated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.97 174.75 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.60 174.75 Td (fiduciary ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 162.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.29 162.15 Td (nature ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.15 162.15 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.51 162.15 Td (well ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.21 162.15 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.58 162.15 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.77 162.15 Td (prohibited ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.55 162.15 Td (transaction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.23 162.15 Td (class ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.27 162.15 Td (exemptions. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.73 162.15 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.68 162.15 Td (substantive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.55 162.15 Td (provisions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.92 162.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.29 162.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.74 162.15 Td (rule ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.69 162.15 Td (began ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.38 162.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.17 162.15 Td (apply ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 149.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.15 149.55 Td (June ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.87 149.55 Td (2017. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.98 149.55 Td (However) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.04 149.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.15 149.55 Td (the ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.27 149.55 Td (accompanying ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.08 136.95 Td (July ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.36 136.95 Td (2019, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.77 136.95 Td (while ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.88 136.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.50 136.95 Td (DOL) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.69 136.95 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.47 136.95 Td (continues ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.20 136.95 Td (re-examination ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.73 124.35 Td (provide ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.36 111.75 Td (retirement ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.56 111.75 Td (clients, ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.05 111.75 Td (third-party ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.77 111.75 Td (who ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.84 111.75 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.98 111.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.13 111.75 Td (sell ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.70 111.75 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.26 111.75 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.83 111.75 Td (Funds ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 99.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.99 99.15 Td (separately ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.01 99.15 Td (services, ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.28 99.15 Td (mandate ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.21 99.15 Td (intermediary ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.66 86.55 Td (W) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.43 729.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.35 729.15 Td (unable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.35 729.15 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 716.55 Td (meet ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.97 716.55 Td (redemption ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.85 716.55 Td (obligations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.57 716.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.79 716.55 Td (mitigating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.02 716.55 Td (dilution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.75 716.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.55 716.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.44 716.55 Td (interests ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.49 716.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.30 716.55 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.61 716.55 Td (shareholders. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.14 716.55 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.52 716.55 Td (amendments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.65 716.55 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.62 716.55 Td (seek ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.34 716.55 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 703.95 Td (enhance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.72 703.95 Td (disclosure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.12 703.95 Td (regarding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.18 703.95 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.25 703.95 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.67 703.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.65 703.95 Td (redemption ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.30 703.95 Td (practices. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.06 703.95 Td (New ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.71 703.95 Td (rule ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.86 703.95 Td (22e-4 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.60 703.95 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.76 703.95 Td (require ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.32 703.95 Td (each ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.38 703.95 Td (registered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.60 703.95 Td (open-) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 691.35 Td (end ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.27 691.35 Td (fund,) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 90.14 691.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.75 691.35 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.02 691.35 Td (open-end ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.70 691.35 Td (ETFs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.06 691.35 Td (\(but ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.59 691.35 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.61 691.35 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.89 691.35 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.07 691.35 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.84 691.35 Td (funds\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.90 691.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.68 691.35 Td (establish ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.03 691.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.30 691.35 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.50 691.35 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.86 691.35 Td (management ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 678.75 Td (program. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.96 678.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.72 678.75 Td (Commission ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.25 678.75 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.61 678.75 Td (adopted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.28 678.75 Td (amendments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.79 678.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.40 678.75 Td (existing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.09 678.75 Td (rule ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.85 678.75 Td (22c-1 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.19 678.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.80 678.75 Td (permit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.65 678.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.75 678.75 Td (fund, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.06 678.75 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.40 678.75 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.40 678.75 Td (circumstances, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 666.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.07 666.15 Td (use ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.47 666.15 Td (�swing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.62 666.15 Td (pricing,� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.05 666.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.28 666.15 Td (process ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.18 666.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.33 666.15 Td (adjusting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.23 666.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.46 666.15 Td (NA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.28 666.15 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.67 666.15 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.07 666.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.22 666.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.29 666.15 Td (fund�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.45 666.15 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.94 666.15 Td (shares ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.58 666.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.15 666.15 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.12 666.15 Td (fectively ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.26 666.15 Td (pass ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.74 666.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.65 666.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.88 666.15 Td (costs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.28 666.15 Td (stemming ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.10 666.15 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 653.55 Td (shareholder ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.81 653.55 Td (purchase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.45 653.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.52 653.55 Td (redemption ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.67 653.55 Td (activity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.48 653.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.98 653.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.13 653.55 Td (shareholders ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.52 653.55 Td (associated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.00 653.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.99 653.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.06 653.55 Td (activity) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.87 653.55 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.59 653.55 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.24 653.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.90 653.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.04 653.55 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.35 653.55 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (comply ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.57 640.95 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.81 640.95 Td (rule ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.70 640.95 Td (22e-4 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.18 640.95 Td (beginning ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.75 640.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.82 640.95 Td (December ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.53 640.95 Td (1, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.98 640.95 Td (2018. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.99 640.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.88 640.95 Td (SEC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.71 640.95 Td (delayed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.93 640.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.33 640.95 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.30 640.95 Td (fective ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.43 640.95 Td (date ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.49 640.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.81 640.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.21 640.95 Td (amendments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.85 640.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.17 640.95 Td (will ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.35 Td (permit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.94 628.35 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.30 628.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.49 628.35 Td (use ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.51 628.35 Td (swing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.63 628.35 Td (pricing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.39 628.35 Td (until ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.67 628.35 Td (November ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.02 628.35 Td (2018 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.04 628.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.24 628.35 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.34 628.35 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.32 628.35 Td (intermediaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.41 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.60 628.35 Td (service ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.36 628.35 Td (providers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.04 628.35 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.73 628.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.92 628.35 Td (work ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.75 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.33 615.75 Td (operational ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.73 615.75 Td (issues. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.61 615.75 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.62 615.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.11 615.75 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.02 615.75 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.76 615.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.68 615.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.67 615.75 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.33 615.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.66 615.75 Td (amended ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.73 615.75 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.31 615.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.98 615.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.97 615.75 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.47 615.75 Td (and/or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.46 615.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.63 615.75 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.38 615.75 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.55 615.75 Td (unclear) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 554.87 615.75 Td (.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 590.55 Td (Existing International Regulation) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 565.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.73 565.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.21 565.35 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.76 565.35 Td (business, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.46 565.35 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.18 565.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.49 565.35 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.22 565.35 Td (management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.97 565.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.87 565.35 Td (management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.62 565.35 Td (broker) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.81 565.35 Td (-dealer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.44 565.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.08 565.35 Td (distribution ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (subsidiaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.40 552.75 Td (domiciled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.72 552.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.21 552.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.19 552.75 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.59 552.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.66 552.75 Td (jurisdictions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.53 552.75 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.78 552.75 Td (Australia, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.22 552.75 Td (Brazil, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.83 552.75 Td (Japan, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.68 552.75 Td (Hong ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.34 552.75 Td (Kong, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.62 552.75 Td (Ireland, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.30 552.75 Td (Singapore, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 55.18 540.15 Td (aiwan ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.74 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.39 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.70 540.15 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.77 540.15 Td (Kingdom ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.92 540.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.16 540.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.46 540.15 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.69 540.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.35 540.15 Td (extensive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.49 540.15 Td (regulation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.55 540.15 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.94 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.26 540.15 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.99 540.15 Td (of, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.85 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.50 540.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.15 540.15 Td (supervision ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 545.05 540.15 Td (by) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 554.87 540.15 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (governmental ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.84 527.55 Td (authorities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.77 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.54 527.55 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.30 527.55 Td (agencies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.05 527.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.83 527.55 Td (each ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.67 527.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.02 527.55 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.20 527.55 Td (jurisdictions. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.35 527.55 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.29 527.55 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.97 527.55 Td (subsidiaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.15 527.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 540.58 527.55 Td (also ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (authorized ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.21 514.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.35 514.95 Td (licensed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.15 514.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.71 514.95 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.27 514.95 Td (fer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.31 514.95 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.95 514.95 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.51 514.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.06 514.95 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.28 514.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.84 514.95 Td (several ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.96 514.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.93 514.95 Td (countries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.82 514.95 Td (around ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.37 514.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.59 514.95 Td (world, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.11 514.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.66 514.95 Td (thus ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.56 514.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.77 514.95 Td (subject ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.72 502.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.60 502.35 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.90 502.35 Td (of, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.32 502.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.53 502.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.75 502.35 Td (supervision ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.22 502.35 Td (by) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.04 502.35 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.72 502.35 Td (governmental ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.50 502.35 Td (authorities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.87 502.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.09 502.35 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.72 502.35 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.76 502.35 Td (countries. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.93 502.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.73 502.35 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.82 502.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.53 502.35 Td (subsidiary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.75 502.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 489.75 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.21 489.75 Td (rustPermal, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.89 489.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.69 489.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.91 489.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.71 489.75 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.09 489.75 Td (entered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.55 489.75 Td (into ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.44 489.75 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.91 489.75 Td (agreement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.20 489.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.93 489.75 Td (sell, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.69 489.75 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.26 489.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.48 489.75 Td (Bahamas ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.52 489.75 Td (bank ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.49 489.75 Td (regulated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.12 489.75 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.18 489.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.56 489.75 Td (Central ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.03 489.75 Td (Bank ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.75 489.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.64 477.15 Td (Bahamas. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.06 477.15 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.11 477.15 Td (some ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.59 477.15 Td (instances, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.01 477.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.31 477.15 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.69 477.15 Td (subsidiaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.58 477.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.70 477.15 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.92 477.15 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.89 477.15 Td (fected ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.85 477.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.65 477.15 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.63 477.15 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.19 477.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.66 477.15 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.62 477.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.68 477.15 Td (have ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 464.55 Td (extra- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.83 464.55 Td (territorial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.33 464.55 Td (application. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.46 464.55 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.64 464.55 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.20 464.55 Td (fshore ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.29 464.55 Td (proprietary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.79 464.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.97 464.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.64 464.55 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.23 464.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.25 464.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.93 464.55 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.03 464.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.04 464.55 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.04 464.55 Td (bodies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.31 464.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.91 464.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.58 464.55 Td (jurisdictions ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 451.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.78 451.95 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.55 451.95 Td (they ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.73 451.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.66 451.95 Td (domiciled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.76 451.95 Td (and, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.66 451.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.01 451.95 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.45 451.95 Td (listed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.31 451.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.92 451.95 Td (exchanges, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.38 451.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.66 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.60 451.95 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.12 451.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.98 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.91 451.95 Td (applicable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.17 451.95 Td (exchanges. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.63 451.95 Td (Certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.65 451.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.50 451.95 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.70 439.35 Td (domiciled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.55 439.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.58 439.35 Td (Ireland ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.17 439.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.85 439.35 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.63 439.35 Td (registered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.89 439.35 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.99 439.35 Td (public ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.10 439.35 Td (sale ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.29 439.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.32 439.35 Td (several ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.91 439.35 Td (countries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.27 439.35 Td (around ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.29 439.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.98 439.35 Td (world ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.33 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.36 439.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.04 439.35 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.64 439.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.67 439.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.58 426.75 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.41 426.75 Td (of, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.62 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.61 426.75 Td (supervision ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.86 426.75 Td (by) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.68 426.75 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.14 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.80 426.75 Td (governmental ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.36 426.75 Td (authorities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.52 426.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.10 426.75 Td (those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.10 426.75 Td (countries. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.64 426.75 Td (All ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.89 426.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.47 426.75 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.88 426.75 Td (non-U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.63 426.75 Td (governmental ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.19 426.75 Td (authorities ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.01 414.15 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.27 414.15 Td (broad ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.62 414.15 Td (supervisory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.06 414.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.67 414.15 Td (disciplinary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.68 414.15 Td (powers, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.08 414.15 Td (including, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.81 414.15 Td (among ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.83 414.15 Td (others, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.56 414.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.84 414.15 Td (power ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.52 414.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.13 414.15 Td (set ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.24 414.15 Td (minimum ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.52 414.15 Td (capital ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 401.55 Td (requirements, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.24 401.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.71 401.55 Td (temporarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.99 401.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.03 401.55 Td (permanently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.81 401.55 Td (revoke ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.68 401.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.81 401.55 Td (authorization ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.51 401.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.97 401.55 Td (carry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.84 401.55 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.64 401.55 Td (regulated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.00 401.55 Td (business, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.51 401.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.98 401.55 Td (suspend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.11 401.55 Td (registered ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 388.95 Td (employees, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.65 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.44 388.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.23 388.95 Td (invoke ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.43 388.95 Td (censures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.21 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.00 388.95 Td (fines ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.03 388.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.90 388.95 Td (both ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.19 388.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.65 388.95 Td (regulated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.33 388.95 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.55 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.33 388.95 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.88 388.95 Td (registered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.90 388.95 Td (employees.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 363.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.30 363.75 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.86 363.75 Td (Conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.15 363.75 Td (Authority ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.46 363.75 Td (\(�FCA�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.68 363.75 Td (currently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.06 363.75 Td (regulates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.44 363.75 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.48 363.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.70 363.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.18 363.75 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.15 363.75 Td (filiates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.20 363.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.84 363.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.15 363.75 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.21 363.75 Td (Kingdom. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (Authorization ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.57 351.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.81 351.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.39 351.15 Td (FCA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.24 351.15 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.98 351.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.73 351.15 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.46 351.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.38 351.15 Td (conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.36 351.15 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.67 351.15 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.15 351.15 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.71 351.15 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.02 351.15 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.36 351.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.27 351.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.85 351.15 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.17 351.15 Td (Kingdom ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.59 351.15 Td (under ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 63.96 338.55 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.67 338.55 Td (Services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.87 338.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.66 338.55 Td (Markets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.34 338.55 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.14 338.55 Td (2000. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.27 338.55 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.23 338.55 Td (FCA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.49 338.55 Td (�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.41 338.55 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.13 338.55 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.17 338.55 Td (adopted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.04 338.55 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.58 338.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.60 338.55 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.39 338.55 Td (govern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.18 338.55 Td (capital ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.80 338.55 Td (resources ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.08 338.55 Td (requirements, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 325.95 Td (senior ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.65 325.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.78 325.95 Td (arrangements, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.44 325.95 Td (conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.17 325.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.40 325.95 Td (business, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.10 325.95 Td (interaction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.48 325.95 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.64 325.95 Td (clients, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.16 325.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.80 325.95 Td (systems ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.54 325.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.19 325.95 Td (controls. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.02 325.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.83 325.95 Td (FCA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.68 325.95 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.16 325.95 Td (monitors ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.02 313.35 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.94 313.35 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.14 313.35 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.59 313.35 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.93 313.35 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.12 313.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.30 313.35 Td (combination ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.32 313.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.59 313.35 Td (proactive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.18 313.35 Td (engagement, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.06 313.35 Td (event-driven ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.65 313.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.34 313.35 Td (reactive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.09 313.35 Td (supervision ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.29 300.75 Td (thematic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.06 300.75 Td (based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.60 300.75 Td (reviews. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.50 300.75 Td (Breaches ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.60 300.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.98 300.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.43 300.75 Td (FCA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.69 300.75 Td (�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.61 300.75 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.32 300.75 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.36 300.75 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.06 300.75 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.01 300.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.81 300.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.09 300.75 Td (wide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.13 300.75 Td (range ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.07 300.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.44 300.75 Td (disciplinary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.64 300.75 Td (actions.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 275.55 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.57 275.55 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.93 275.55 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.81 275.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.88 275.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.20 275.55 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.17 275.55 Td (filiates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.06 275.55 Td (must ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.80 275.55 Td (comply ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.62 275.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.61 275.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.76 275.55 Td (pan-European ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.97 275.55 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.44 275.55 Td (regime ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.91 275.55 Td (established ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.89 275.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.71 275.55 Td (MiFID, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.46 262.95 Td (became ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.81 262.95 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.78 262.95 Td (fective ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.64 262.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.43 262.95 Td (November ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.04 262.95 Td (1, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.21 262.95 Td (2007 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.51 262.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.96 262.95 Td (regulates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.16 262.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.28 262.95 Td (provision ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.24 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.28 262.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.65 262.95 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.77 262.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.22 262.95 Td (activities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.42 262.95 Td (throughout ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.78 250.35 Td (wider ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.13 250.35 Td (EEA. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.62 250.35 Td (MiFID, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.86 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.14 250.35 Td (scope ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.50 250.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.69 250.35 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.80 250.35 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.25 250.35 Td (being ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.03 250.35 Td (enhanced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.12 250.35 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.23 250.35 Td (MiFID ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.85 250.35 Td (II, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.92 250.35 Td (sets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.12 250.35 Td (out ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.98 250.35 Td (detailed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.67 250.35 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.93 250.35 Td (governing ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.31 237.75 Td (or) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.87 237.75 Td (ganization ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.58 237.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.73 237.75 Td (conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.95 237.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.68 237.75 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.25 237.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.98 237.75 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.04 237.75 Td (firms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.18 237.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.33 237.75 Td (regulated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.37 237.75 Td (markets. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.22 237.75 Td (It ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.62 237.75 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.51 237.75 Td (includes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.49 237.75 Td (pre- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.37 237.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.52 237.75 Td (post-trade ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.15 Td (transparency ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.76 225.15 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.20 225.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.07 225.15 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.94 225.15 Td (markets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.81 225.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.59 225.15 Td (extensive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.87 225.15 Td (transaction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.56 225.15 Td (reporting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.68 225.15 Td (requirements.) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 199.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 104.87 199.95 Td (EU ) Tj ET Q
q 0 0 0 rg BT 121.92 199.95 Td (has ) Tj ET Q
q 0 0 0 rg BT 138.97 199.95 Td (adopted ) Tj ET Q
q 0 0 0 rg BT 175.25 199.95 Td (directives ) Tj ET Q
q 0 0 0 rg BT 219.12 199.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 232.67 199.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 248.55 199.95 Td (coordination ) Tj ET Q
q 0 0 0 rg BT 304.67 199.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 316.46 199.95 Td (laws, ) Tj ET Q
q 0 0 0 rg BT 341.39 199.95 Td (regulations ) Tj ET Q
q 0 0 0 rg BT 391.09 199.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 409.30 199.95 Td (administrative ) Tj ET Q
q 0 0 0 rg BT 472.42 199.95 Td (provisions ) Tj ET Q
q 0 0 0 rg BT 519.22 199.95 Td (relating ) Tj ET Q
q 0 0 0 rg BT 554.34 199.95 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 187.35 Td (undertakings ) Tj ET Q
q 0 0 0 rg BT 106.72 187.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 121.95 187.35 Td (UCITS ) Tj ET Q
q 0 0 0 rg BT 155.26 187.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 176.91 187.35 Td (respect ) Tj ET Q
q 0 0 0 rg BT 209.63 187.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 220.78 187.35 Td (depositary ) Tj ET Q
q 0 0 0 rg BT 267.50 187.35 Td (functions, ) Tj ET Q
q 0 0 0 rg BT 312.18 187.35 Td (remuneration ) Tj ET Q
q 0 0 0 rg BT 371.14 187.35 Td (policies ) Tj ET Q
q 0 0 0 rg BT 406.78 187.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 424.92 187.35 Td (sanctions. ) Tj ET Q
q 0 0 0 rg BT 469.61 187.35 Td (UCITS ) Tj ET Q
q 0 0 0 rg BT 502.93 187.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 518.73 187.35 Td (capable ) Tj ET Q
q 0 0 0 rg BT 553.77 187.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 174.75 Td (being ) Tj ET Q
q 0 0 0 rg BT 75.77 174.75 Td (freely ) Tj ET Q
q 0 0 0 rg BT 103.20 174.75 Td (marketed ) Tj ET Q
q 0 0 0 rg BT 145.21 174.75 Td (throughout ) Tj ET Q
q 0 0 0 rg BT 194.23 174.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 210.00 174.75 Td (EU ) Tj ET Q
q 0 0 0 rg BT 226.95 174.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 248.56 174.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 256.16 174.75 Td (single ) Tj ET Q
q 0 0 0 rg BT 284.19 174.75 Td (authorization ) Tj ET Q
q 0 0 0 rg BT 342.53 174.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 353.64 174.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 361.25 174.75 Td (member ) Tj ET Q
q 0 0 0 rg BT 398.60 174.75 Td (state ) Tj ET Q
q 0 0 0 rg BT 420.78 174.75 Td (- ) Tj ET Q
q 0 0 0 rg BT 427.22 174.75 Td (so-called ) Tj ET Q
q 0 0 0 rg BT 468.07 174.75 Td (passporting. ) Tj ET Q
q 0 0 0 rg BT 522.05 174.75 Td (UCITS ) Tj ET Q
q 0 0 0 rg BT 555.12 174.75 Td (V) Tj ET Q
q 0 0 0 rg BT 562.51 174.75 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 162.15 Td (covers ) Tj ET Q
q 0 0 0 rg BT 78.87 162.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 85.50 162.15 Td (range ) Tj ET Q
q 0 0 0 rg BT 110.79 162.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 121.50 162.15 Td (matters ) Tj ET Q
q 0 0 0 rg BT 154.38 162.15 Td (relating ) Tj ET Q
q 0 0 0 rg BT 188.42 162.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 198.56 162.15 Td (UCITS ) Tj ET Q
q 0 0 0 rg BT 230.86 162.15 Td (including ) Tj ET Q
q 0 0 0 rg BT 272.49 162.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 287.29 162.15 Td (fund ) Tj ET Q
q 0 0 0 rg BT 308.50 162.15 Td (structure ) Tj ET Q
q 0 0 0 rg BT 347.21 162.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 364.34 162.15 Td (domicile ) Tj ET Q
q 0 0 0 rg BT 403.05 162.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 413.76 162.15 Td (UCITS, ) Tj ET Q
q 0 0 0 rg BT 448.69 162.15 Td (service ) Tj ET Q
q 0 0 0 rg BT 480.40 162.15 Td (providers ) Tj ET Q
q 0 0 0 rg BT 522.02 162.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 532.16 162.15 Td (UCITS ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 149.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 68.77 149.55 Td (marketing ) Tj ET Q
q 0 0 0 rg BT 115.45 149.55 Td (arrangements. ) Tj ET Q
q 0 0 0 rg BT 178.74 149.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 198.01 149.55 Td (seeks ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.83 590.55 Td (capital ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.81 678.90 Td (fer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.09 678.90 Td (materially ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.28 678.90 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.31 678.90 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.10 678.90 Td (forward-looking ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.54 678.90 Td (statements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.49 678.90 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.86 678.90 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.73 678.90 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.10 678.90 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.88 678.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.26 678.90 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.88 678.90 Td (employees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.41 678.90 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.11 678.90 Td (make.) Tj ET Q
BT /F2 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 653.70 Td (Risks Related to our) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.60 653.70 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.65 653.70 Td (Asset Management Business) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.00 628.50 Td (Poor Investment Performance Could Lead to a Loss of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.48 628.50 Td (Assets Under Management and a Decline in ) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.90 Td (Revenues) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 590.70 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 590.70 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.01 590.70 Td (believe ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.10 590.70 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.63 590.70 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.49 590.70 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.31 590.70 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.10 590.70 Td (one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.04 590.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.56 590.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.17 590.70 Td (most ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.37 590.70 Td (important ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.98 590.70 Td (factors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.32 590.70 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.34 590.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.95 590.70 Td (maintenance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.79 590.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.73 590.70 Td (growth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.25 590.70 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 578.10 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.04 578.10 Td (AUM. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.42 578.10 Td (Poor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.52 578.10 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.85 578.10 Td (performance, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.79 578.10 Td (either ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.95 578.10 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.71 578.10 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.87 578.10 Td (absolute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.13 578.10 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.13 578.10 Td (relative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.87 578.10 Td (basis, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.75 578.10 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.34 578.10 Td (impair ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.01 578.10 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.26 578.10 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.84 578.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.25 578.10 Td (growth ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.50 Td (because:) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 540.30 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 540.30 Td (existing clients might withdraw funds in favor of better performing products, which would result in lower ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 527.70 Td (investment advisory and other fees;) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 515.10 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 515.10 Td (our ability to attract funds from existing and new clients might diminish; and) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 502.50 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 502.50 Td (negative absolute investment performance will directly reduce our managed assets.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 477.30 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.85 477.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.19 477.30 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.86 477.30 Td (decline ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.53 477.30 Td (without ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.97 477.30 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.98 477.30 Td (commensurate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.56 477.30 Td (reduction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.56 477.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.08 477.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.43 477.30 Td (expenses, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.31 477.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.66 477.30 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.84 477.30 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.10 477.30 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.79 477.30 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.05 477.30 Td (reduced. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.26 477.30 Td (From ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 464.70 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.44 464.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.89 464.70 Td (time, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.46 464.70 Td (several ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.48 464.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.51 464.70 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.78 464.70 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.48 464.70 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.99 464.70 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.10 464.70 Td (generated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.18 464.70 Td (poor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.71 464.70 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.07 464.70 Td (performance, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.03 464.70 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.81 464.70 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.75 464.70 Td (relative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.51 464.70 Td (basis ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.80 464.70 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.83 464.70 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.02 464.70 Td (absolute ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 452.10 Td (basis, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.15 452.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.35 452.10 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.94 452.10 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.12 452.10 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.90 452.10 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.66 452.10 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.43 452.10 Td (they ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.54 452.10 Td (managed, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.09 452.10 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.77 452.10 Td (contributed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.62 452.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.81 452.10 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.50 452.10 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.85 452.10 Td (reduction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.53 452.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.72 452.10 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.33 452.10 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.85 452.10 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.50 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.87 439.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.09 439.50 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.81 439.50 Td (reduction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.53 439.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.75 439.50 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.86 439.50 Td (fees, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.45 439.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.67 439.50 Td (some ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.90 439.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.70 439.50 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.76 439.50 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.23 439.50 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.52 439.50 Td (currently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.48 439.50 Td (face ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.02 439.50 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.65 439.50 Td (issues. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.28 439.50 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.35 439.50 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.07 439.50 Td (face ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.61 439.50 Td (periodic ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.90 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.26 426.90 Td (issues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.05 426.90 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.43 426.90 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.70 426.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.16 426.90 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.86 426.90 Td (products, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.36 426.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.23 426.90 Td (there ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.92 426.90 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.63 426.90 Td (typically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.08 426.90 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.45 426.90 Td (lag ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.99 426.90 Td (before ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.51 426.90 Td (improvements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.29 426.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.17 426.90 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.96 426.90 Td (performance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.30 Td (produce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.64 414.30 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.62 414.30 Td (positive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.19 414.30 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.16 414.30 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.21 414.30 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.03 414.30 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.76 414.30 Td (flows. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.04 414.30 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.11 414.30 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.46 414.30 Td (recently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.60 414.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.75 414.30 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.48 414.30 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.44 414.30 Td (industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.18 414.30 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.50 414.30 Td (experienced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.53 414.30 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.51 414.30 Td (weakening ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 401.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.50 401.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.16 401.70 Td (correlation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.47 401.70 Td (between ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.29 401.70 Td (strong ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.37 401.70 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.28 401.70 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.16 401.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.16 401.70 Td (increased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.63 401.70 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.88 401.70 Td (flows. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.54 401.70 Td (There ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.85 401.70 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.26 401.70 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.00 401.70 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.33 401.70 Td (assurances ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.07 401.70 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.65 401.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.65 401.70 Td (when, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 389.10 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.87 389.10 Td (if, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.54 389.10 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.24 389.10 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.91 389.10 Td (issues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.63 389.10 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.59 389.10 Td (cease ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.94 389.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.73 389.10 Td (negatively ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.09 389.10 Td (influence ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.78 389.10 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.82 389.10 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.95 389.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.74 389.10 Td (revenues.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.00 363.90 Td (Assets Under Management May Be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.28 363.90 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.23 363.90 Td (ithdrawn, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.39 363.90 Td (Which May Reduce our Revenues and Net Income) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 338.70 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.31 338.70 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.87 338.70 Td (advisory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.51 338.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.15 338.70 Td (administrative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.70 338.70 Td (contracts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.08 338.70 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.38 338.70 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.92 338.70 Td (terminable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.30 338.70 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.36 338.70 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.17 338.70 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.40 338.70 Td (upon ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.88 338.70 Td (relatively ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.01 338.70 Td (short ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 326.10 Td (notice, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.57 326.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.52 326.10 Td (investors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.23 326.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.19 326.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.81 326.10 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.76 326.10 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.89 326.10 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.43 326.10 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.46 326.10 Td (manage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.90 326.10 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.77 326.10 Td (redeem ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.46 326.10 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.49 326.10 Td (investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.45 326.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.41 326.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.03 326.10 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.15 326.10 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.52 326.10 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.47 326.10 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.93 326.10 Td (without ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.50 Td (prior ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.62 313.50 Td (notice. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.61 313.50 Td (Institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.06 313.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.93 313.50 Td (individual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.22 313.50 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.33 313.50 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.61 313.50 Td (terminate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.97 313.50 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.92 313.50 Td (relationships ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.28 313.50 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.66 313.50 Td (us, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.33 313.50 Td (reduce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.01 313.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.55 313.50 Td (aggregate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.06 313.50 Td (amount ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.27 313.50 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.90 Td (AUM, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.78 300.90 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.67 300.90 Td (shift ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.49 300.90 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.88 300.90 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.36 300.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.67 300.90 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.40 300.90 Td (types ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.71 300.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.60 300.90 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.49 300.90 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.30 300.90 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.78 300.90 Td (ferent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.41 300.90 Td (rate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.29 300.90 Td (structures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.26 300.90 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.65 300.90 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.96 300.90 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.18 300.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.08 300.90 Td (reasons, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.34 300.90 Td (including ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.30 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.02 288.30 Td (performance, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.14 288.30 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.40 288.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.01 288.30 Td (prevailing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.02 288.30 Td (interest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.37 288.30 Td (rates, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.26 288.30 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.52 288.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.13 288.30 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.65 288.30 Td (preferences ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.48 288.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.67 288.30 Td (clients, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.14 288.30 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.41 288.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.02 288.30 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.70 Td (reputation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.50 275.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.09 275.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.35 275.70 Td (marketplace, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.70 275.70 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.95 275.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.55 275.70 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.62 275.70 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.79 275.70 Td (control ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.96 275.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.14 275.70 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.97 275.70 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.15 275.70 Td (third-party ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.48 275.70 Td (distributors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.74 275.70 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.84 275.70 Td (whom ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.52 275.70 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.19 275.70 Td (have ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 263.10 Td (relationships, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.23 263.10 Td (loss ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.01 263.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.20 263.10 Td (key ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.80 263.10 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.32 263.10 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.41 263.10 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.60 263.10 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.61 263.10 Td (personnel ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.88 263.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.48 263.10 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.65 263.10 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.25 263.10 Td (performance. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.36 263.10 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.55 263.10 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.03 263.10 Td (there ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 250.50 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.13 250.50 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.58 250.50 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.88 250.50 Td (trend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.08 250.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.46 250.50 Td (investors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.01 250.50 Td (shifting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.73 250.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.53 250.50 Td (alternative, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.10 250.50 Td (passive, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.27 250.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.06 250.50 Td (smart ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.02 250.50 Td (beta ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.14 250.50 Td (strategies. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.47 250.50 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.78 250.50 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.07 250.50 Td (result, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.66 250.50 Td (core ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.36 250.50 Td (equities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.65 250.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.44 250.50 Td (fixed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.90 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.67 237.90 Td (portfolios ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.77 237.90 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.86 237.90 Td (declining ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.20 237.90 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.21 237.90 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.14 237.90 Td (share ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.56 237.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.58 237.90 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.59 237.90 Td (AUM. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.99 237.90 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.25 237.90 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.27 237.90 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.57 237.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.01 237.90 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.94 237.90 Td (declining ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.28 237.90 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.20 237.90 Td (market, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.25 237.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.34 237.90 Td (pace ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.84 237.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.85 237.90 Td (mutual ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.30 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.32 225.30 Td (redemptions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.80 225.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.54 225.30 Td (withdrawal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.35 225.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.67 225.30 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.75 225.30 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.73 225.30 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.88 225.30 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.19 225.30 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.10 225.30 Td (accelerate. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.25 225.30 Td (Poor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.66 225.30 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.32 225.30 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.94 225.30 Td (generally ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 212.70 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.58 212.70 Td (relative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.39 212.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.89 212.70 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.79 212.70 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.20 212.70 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.18 212.70 Td (firms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.67 212.70 Td (tends ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.17 212.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.66 212.70 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.32 212.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.82 212.70 Td (decreased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.54 212.70 Td (purchases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.27 212.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.35 212.70 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.92 212.70 Td (shares, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.12 212.70 Td (increased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.09 212.70 Td (redemptions ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 200.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.87 200.10 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.74 200.10 Td (shares, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.23 200.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.02 200.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.47 200.10 Td (loss ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.44 200.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.81 200.10 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.60 200.10 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.98 200.10 Td (individual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.18 200.10 Td (accounts.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 174.90 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 174.90 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.16 174.90 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.90 174.90 Td (experienced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.55 174.90 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.30 174.90 Td (outflows ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.98 174.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.65 174.90 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.40 174.90 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.83 174.90 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.00 174.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.75 174.90 Td (last ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.26 174.90 Td (13 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.69 174.90 Td (fiscal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.35 174.90 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.43 174.90 Td (due ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.52 174.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.61 174.90 Td (part ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.86 174.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.96 174.90 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.96 174.90 Td (performance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 162.30 Td (issues. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.76 162.30 Td (During ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.05 162.30 Td (fiscal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.33 162.30 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.02 162.30 Td (2018 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.57 162.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.27 162.30 Td (2017, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.44 162.30 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.23 162.30 Td (had ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.93 162.30 Td ($22.6 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.10 162.30 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.06 162.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.76 162.30 Td ($28.9 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.93 162.30 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.90 162.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.18 162.30 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.56 162.30 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.42 162.30 Td (outflows, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.34 162.30 Td (respectively) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 554.39 162.30 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 149.70 Td (primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.20 149.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.99 149.70 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.20 149.70 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.33 149.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.12 149.70 Td (both ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.41 149.70 Td (years. ) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 124.50 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.69 124.50 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.58 124.50 Td (Are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.94 124.50 Td (Unable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.05 124.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.83 124.50 Td (Maintain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.71 124.50 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.49 124.50 Td (Fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.43 124.50 Td (Levels ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.44 124.50 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.38 124.50 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.58 124.50 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.97 124.50 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.34 124.50 Td (Mix ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.45 124.50 Td (Changes, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.62 124.50 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.40 124.50 Td (Revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.43 124.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.38 124.50 Td (Margins ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.75 124.50 Td (Could ) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 111.90 Td (Be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 63.79 111.90 Td (Reduced) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.50 86.70 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.62 86.70 Td (profit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.74 86.70 Td (mar) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.87 86.70 Td (gins ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.17 86.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.12 86.70 Td (net ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 191.74 86.70 Td (income ) Tj ET Q
q 0 0 0 rg BT 225.44 86.70 Td (are ) Tj ET Q
q 0 0 0 rg BT 241.04 86.70 Td (dependent ) Tj ET Q
q 0 0 0 rg BT 286.98 86.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 297.94 86.70 Td (significant ) Tj ET Q
q 0 0 0 rg BT 345.06 86.70 Td (part ) Tj ET Q
q 0 0 0 rg BT 364.17 86.70 Td (on ) Tj ET Q
q 0 0 0 rg BT 377.46 86.70 Td (our ) Tj ET Q
q 0 0 0 rg BT 394.25 86.70 Td (ability ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.49 653.55 Td (income. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.72 653.55 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.61 653.55 Td (factors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.01 653.55 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.75 653.55 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.91 653.55 Td (inhibit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.15 653.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.98 653.55 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.63 653.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.63 653.55 Td (increase ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 69.03 640.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.90 640.95 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.09 640.95 Td (products.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 615.75 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.86 615.75 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.97 615.75 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.15 615.75 Td (generate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.31 615.75 Td (very ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.58 615.75 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.05 615.75 Td (ferent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.14 615.75 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.06 615.75 Td (per ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.08 615.75 Td (dollar ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.18 615.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.53 615.75 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.04 615.75 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.14 615.75 Td (based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.65 615.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.76 615.75 Td (factors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.94 615.75 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.79 615.75 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.15 615.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.58 615.75 Td (type ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.27 615.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.15 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.38 603.15 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.76 603.15 Td (\(alternative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.03 603.15 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.01 603.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.64 603.15 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.36 603.15 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.33 603.15 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.86 603.15 Td (produce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.15 603.15 Td (greater ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.77 603.15 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.56 603.15 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.11 603.15 Td (fixed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.16 603.15 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.53 603.15 Td (assets\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.63 603.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.93 603.15 Td (type ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 590.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.57 590.55 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.22 590.55 Td (\(institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.21 590.55 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.95 590.55 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.34 590.55 Td (pay ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.83 590.55 Td (lower ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.06 590.55 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.29 590.55 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.70 590.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.60 590.55 Td (clients\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.46 590.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.61 590.55 Td (type ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.01 590.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.09 590.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.82 590.55 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.80 590.55 Td (product ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.20 590.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.27 590.55 Td (service ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 577.95 Td (provided ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.28 577.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.89 577.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.18 577.95 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.45 577.95 Td (schedule ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.64 577.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.84 577.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.12 577.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.99 577.95 Td (manager ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.59 577.95 Td (providing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.87 577.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.15 577.95 Td (service. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.20 577.95 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.21 577.95 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.66 577.95 Td (shift ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.78 577.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.41 577.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.69 577.95 Td (mix ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.48 577.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.68 577.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.37 577.95 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.32 577.95 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.19 577.95 Td (higher ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (revenue- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.08 565.35 Td (generating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.26 565.35 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.62 565.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.64 565.35 Td (lower ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.41 565.35 Td (revenue-generating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.31 565.35 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.67 565.35 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.61 565.35 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.79 565.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.82 565.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.34 565.35 Td (decrease ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.34 565.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.37 565.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.22 565.35 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.40 565.35 Td (even ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.08 565.35 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.35 565.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.21 565.35 Td (aggregate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (level ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.94 552.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.27 552.75 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.81 552.75 Td (remains ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.09 552.75 Td (unchanged ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.61 552.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.39 552.75 Td (increases. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.08 552.75 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.08 552.75 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.12 552.75 Td (decrease ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.29 552.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.49 552.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.52 552.75 Td (revenues, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.50 552.75 Td (without ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.62 552.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.32 552.75 Td (commensurate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.58 552.75 Td (reduction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.27 552.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.47 552.75 Td (expenses, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.46 540.15 Td (reduce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.06 540.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.69 540.15 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.14 540.15 Td (income. ) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 514.95 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.85 514.95 Td (Mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.79 514.95 Td (Fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.56 514.95 Td (Management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.58 514.95 Td (Contracts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.43 514.95 Td (May ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.52 514.95 Td (Not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.11 514.95 Td (Be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.61 514.95 Td (Renewed, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.95 514.95 Td (Which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.39 514.95 Td (May ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.47 514.95 Td (Reduce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.39 514.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.40 514.95 Td (Revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.66 514.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.84 514.95 Td (Net ) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (Income) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 489.75 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.50 489.75 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.05 489.75 Td (substantial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.50 489.75 Td (portion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.38 489.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.67 489.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.21 489.75 Td (revenue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.98 489.75 Td (comes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.35 489.75 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.30 489.75 Td (managing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.25 489.75 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.47 489.75 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.17 489.75 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.49 489.75 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.56 489.75 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.76 489.75 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.37 489.75 Td (manage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.56 489.75 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.68 489.75 Td (funds ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.15 Td (pursuant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.93 477.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.37 477.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.29 477.15 Td (contracts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.46 477.15 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.40 477.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.50 477.15 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.11 477.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.13 477.15 Td (must ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.82 477.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.00 477.15 Td (renewed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.84 477.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.27 477.15 Td (approved ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.61 477.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.38 477.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.49 477.15 Td (funds' ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.98 477.15 Td (boards ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.25 477.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.27 477.15 Td (directors ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 464.55 Td (annually) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.97 464.55 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.46 464.55 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.47 464.55 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.86 464.55 Td (majority ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.83 464.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.97 464.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.19 464.55 Td (directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.32 464.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.46 464.55 Td (each ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.09 464.55 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.64 464.55 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.28 464.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.49 464.55 Td (independent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.20 464.55 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.01 464.55 Td (us. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.83 464.55 Td (Although ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.89 464.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.12 464.55 Td (funds' ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.73 464.55 Td (boards ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.12 464.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.26 464.55 Td (directors ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 451.95 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.56 451.95 Td (historically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.04 451.95 Td (approved ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.34 451.95 Td (each ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.81 451.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.80 451.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.03 451.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.92 451.95 Td (contracts, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.68 451.95 Td (there ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.90 451.95 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.71 451.95 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.86 451.95 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.60 451.95 Td (assurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.65 451.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.63 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.70 451.95 Td (board ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.84 451.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.83 451.95 Td (directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.80 451.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.78 451.95 Td (each ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.88 439.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.77 439.35 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.15 439.35 Td (manage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.93 439.35 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.40 439.35 Td (continue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.70 439.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.00 439.35 Td (approve ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.96 439.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.92 439.35 Td (funds�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.97 439.35 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.11 439.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.89 439.35 Td (contracts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.93 439.35 Td (each ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.29 439.35 Td (year ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.50 439.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.38 439.35 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.85 439.35 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.41 439.35 Td (condition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.21 439.35 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.27 439.35 Td (approval ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 62.06 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.95 426.75 Td (terms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.34 426.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.15 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.04 426.75 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.75 426.75 Td (contract ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.63 426.75 Td (being ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.02 426.75 Td (revised ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.40 426.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.63 426.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.36 426.75 Td (way ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.91 426.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.72 426.75 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.79 426.75 Td (adverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.91 426.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.14 426.75 Td (us. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.17 426.75 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.22 426.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.95 426.75 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.17 426.75 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.48 426.75 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.19 426.75 Td (contract ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 58.72 414.15 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.35 414.15 Td (renewed, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.75 414.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.71 414.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.93 414.15 Td (revised ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.47 414.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.85 414.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.73 414.15 Td (way ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.44 414.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.40 414.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.61 414.15 Td (adverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.89 414.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.28 414.15 Td (us, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.45 414.15 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.50 414.15 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.05 414.15 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.59 414.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.97 414.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.85 414.15 Td (reduction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.71 414.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.10 414.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.31 414.15 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.84 414.15 Td (and, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.84 414.15 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.47 414.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.68 414.15 Td (revenues ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 401.55 Td (decline ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.44 401.55 Td (without ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.15 401.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.44 401.55 Td (commensurate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.29 401.55 Td (reduction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.57 401.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.36 401.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.98 401.55 Td (expenses, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.14 401.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.76 401.55 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.21 401.55 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.74 401.55 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.70 401.55 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.24 401.55 Td (reduced.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 376.35 Td (Unavailability of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.36 376.35 Td (Appropriate Investment Opportunities Could Hamper our Investment Performance or ) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.75 Td (Growth) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 338.55 Td (An ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.52 338.55 Td (important ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.53 338.55 Td (component ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.36 338.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.29 338.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.55 338.55 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.79 338.55 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.97 338.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.98 338.55 Td (availability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.40 338.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.33 338.55 Td (appropriate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.32 338.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.58 338.55 Td (opportunities ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 325.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 63.80 325.95 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.35 325.95 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.73 325.95 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.74 325.95 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.79 325.95 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.01 325.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.81 325.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.86 325.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.33 325.95 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.62 325.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.50 325.95 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.97 325.95 Td (able ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.51 325.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.74 325.95 Td (find ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.71 325.95 Td (suf) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.35 325.95 Td (ficient ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.23 325.95 Td (investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.45 325.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.75 325.95 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.30 325.95 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.68 325.95 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.23 325.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.45 325.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.17 325.95 Td (timely ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.35 Td (manner) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.56 313.35 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.92 313.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.48 313.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.62 313.35 Td (manager's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.48 313.35 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.28 313.35 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.06 313.35 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.12 313.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.76 313.35 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.73 313.35 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.69 313.35 Td (fected. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.31 313.35 Td (Alternatively) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.03 313.35 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.39 313.35 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.53 313.35 Td (one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.42 313.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.90 313.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.63 313.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.77 313.35 Td (managers ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (does ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.93 300.75 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.52 300.75 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.53 300.75 Td (suf) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.17 300.75 Td (ficient ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.17 300.75 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.43 300.75 Td (opportunities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.02 300.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.45 300.75 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.12 300.75 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.26 300.75 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.27 300.75 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.53 300.75 Td (elect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.53 300.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.88 300.75 Td (limit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.89 300.75 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.99 300.75 Td (growth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.92 300.75 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.60 300.75 Td (reducing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.52 300.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.53 300.75 Td (rate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.44 300.75 Td (at ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.44 288.15 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.55 288.15 Td (receives ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.22 288.15 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.99 288.15 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.23 288.15 Td (Depending ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.57 288.15 Td (on, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.98 288.15 Td (among ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.83 288.15 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.68 288.15 Td (factors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.15 288.15 Td (prevailing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.00 288.15 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.43 288.15 Td (conditions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.08 288.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.19 288.15 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.87 288.15 Td (manager's ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.03 275.55 Td (style, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.94 275.55 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.54 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.16 275.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.19 275.55 Td (limits ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.56 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.18 275.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.46 275.55 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.06 275.55 Td (sectors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.67 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.29 275.55 Td (types ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.91 275.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.11 275.55 Td (opportunities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.97 275.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.59 275.55 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.71 275.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.99 275.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.85 275.55 Td (manager ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (typically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.42 262.95 Td (invests ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.77 262.95 Td (\(such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.70 262.95 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.63 262.95 Td (less ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.56 262.95 Td (capitalized ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.21 262.95 Td (companies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.30 262.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.64 262.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.39 262.95 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.15 262.95 Td (thinly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.83 262.95 Td (traded ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.25 262.95 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.08 262.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.43 262.95 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.28 262.95 Td (relatively ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.10 262.95 Td (smaller ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 250.35 Td (investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.73 250.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.61 250.35 Td (typically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.41 250.35 Td (made\), ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.34 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.23 250.35 Td (risks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.13 250.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.94 250.35 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.42 250.35 Td (having ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.06 250.35 Td (suf) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.71 250.35 Td (ficient ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.59 250.35 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.73 250.35 Td (opportunities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.21 250.35 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.35 250.35 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.81 250.35 Td (when ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.61 250.35 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.59 250.35 Td (asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.75 Td (manager ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.34 237.75 Td (increases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.51 237.75 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.75 237.75 Td (AUM, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.57 237.75 Td (particularly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.66 237.75 Td (when ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.10 237.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.62 237.75 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.71 237.75 Td (occurs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.81 237.75 Td (very ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.16 237.75 Td (quickly) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.97 237.75 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.29 237.75 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.97 237.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.66 237.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.77 237.75 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.70 237.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.21 237.75 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.32 237.75 Td (able ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.50 237.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.36 237.75 Td (identify ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.15 Td (suf) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 62.14 225.15 Td (ficient ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.46 225.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.04 225.15 Td (opportunities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.95 225.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.70 225.15 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.69 225.15 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.51 225.15 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.97 225.15 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.71 225.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.29 225.15 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.84 225.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.08 225.15 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.41 225.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.08 225.15 Td (grow ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.16 225.15 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.74 225.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.15 225.15 Td (reduced.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 199.95 Td (Changes in Securities Markets and Prices May ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.76 199.95 Td (Af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.07 199.95 Td (fect our Revenues and Net Income) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 174.75 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.50 174.75 Td ( ) Tj ET Q
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BT /F1 10.50 Tf ET
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0 Tw 0 Tc 100 Tz 0 TL 
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0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
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0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
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BT /F1 10.50 Tf ET
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/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.11 703.95 Td (operate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.16 703.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.48 703.95 Td (one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.80 703.95 Td (industry) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.54 703.95 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.32 703.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.30 703.95 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.04 703.95 Td (cycles ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.44 703.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.34 703.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.49 703.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.06 703.95 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.45 703.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.68 703.95 Td (occur ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 691.35 Td (contemporaneously) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.05 691.35 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.57 691.35 Td (Consequently) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.63 691.35 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.16 691.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.89 691.35 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.85 691.35 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.49 691.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.13 691.35 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.94 691.35 Td (economic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.66 691.35 Td (downturn ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.80 691.35 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.78 691.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.50 691.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.06 691.35 Td (magnified ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.53 691.35 Td (negative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.00 691.35 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.96 691.35 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.60 691.35 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.00 691.35 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 678.75 Td (business.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 653.55 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.30 653.55 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.40 653.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.20 653.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.00 653.55 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.46 653.55 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.64 653.55 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.33 653.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.04 653.55 Td (substantial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.01 653.55 Td (portion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.40 653.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.20 653.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.26 653.55 Td (invested ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.30 653.55 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.86 653.55 Td (consisted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.99 653.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.80 653.55 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.51 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.72 653.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.35 653.55 Td (seed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (capital ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.92 640.95 Td (investments. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.60 640.95 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.60 640.95 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.04 640.95 Td (decline ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.78 640.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.38 640.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.64 640.95 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.81 640.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.99 640.95 Td (alternatives, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.44 640.95 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.12 640.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.30 640.95 Td (fixed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.31 640.95 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.64 640.95 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.73 640.95 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.49 640.95 Td (lower ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.83 640.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.09 640.95 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.26 640.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.44 640.95 Td (these ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.35 Td (investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.81 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.11 628.35 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.58 628.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.89 628.35 Td (declines ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.44 628.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.75 628.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.89 628.35 Td (non-operating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.93 628.35 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.98 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.29 628.35 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.26 628.35 Td (income. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.93 628.35 Td (Increases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.13 628.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.02 628.35 Td (decreases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.39 628.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.70 628.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.67 628.35 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.55 628.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.44 628.35 Td (these ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.75 Td (investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.29 615.75 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.24 615.75 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.26 615.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.71 615.75 Td (volatility ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.25 615.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.63 615.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.25 615.75 Td (earnings.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 590.55 Td (Changes in Interest Rates Could Have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.72 590.55 Td (Adverse Ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.06 590.55 Td (fects on our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.64 590.55 Td (Assets Under Management) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 565.35 Td (Increases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.51 565.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.62 565.35 Td (interest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.47 565.35 Td (rates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.24 565.35 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.27 565.35 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.45 565.35 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.41 565.35 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.10 565.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.87 565.35 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.65 565.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.00 565.35 Td (values ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.78 565.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.47 565.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.76 565.35 Td (AUM. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.84 565.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.53 565.35 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.52 565.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.63 565.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.24 565.35 Td (rising ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.10 565.35 Td (interest ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (rate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.81 552.75 Td (environment, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.08 552.75 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.83 552.75 Td (investors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.32 552.75 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.97 552.75 Td (shift ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.22 552.75 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.38 552.75 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.46 552.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.78 552.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.60 552.75 Td (manage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.82 552.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.57 552.75 Td (pooled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.72 552.75 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.38 552.75 Td (vehicles ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.35 552.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.10 552.75 Td (direct ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.15 540.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.80 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.12 540.15 Td (types ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.77 540.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.00 540.15 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.98 540.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.63 540.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.78 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.09 540.15 Td (pooled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.16 540.15 Td (vehicles ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.05 540.15 Td (invest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.61 540.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.27 540.15 Td (order ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.91 540.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.56 540.15 Td (realize ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.02 540.15 Td (higher ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.33 540.15 Td (yields ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.90 540.15 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.46 540.15 Td (those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.11 540.15 Td (available ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.69 527.55 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.29 527.55 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.47 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.65 527.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.25 527.55 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.44 527.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.21 527.55 Td (strategies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.88 527.55 Td (holding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.99 527.55 Td (lower) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.69 527.55 Td (-yielding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.62 527.55 Td (instruments. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.27 527.55 Td (Furthermore, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.40 527.55 Td (increases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.91 527.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.10 527.55 Td (interest ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (rates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.70 514.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.15 514.95 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.86 514.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.41 514.95 Td (reduced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.01 514.95 Td (prices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.46 514.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.01 514.95 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.63 514.95 Td (markets. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.87 514.95 Td (Conversely) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.01 514.95 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.02 514.95 Td (decreases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.62 514.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.16 514.95 Td (interest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.45 514.95 Td (rates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.65 514.95 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.35 514.95 Td (lead ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.22 514.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.76 514.95 Td (outflows ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.89 514.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.44 514.95 Td (fixed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.97 502.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.28 502.35 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.44 502.35 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.50 502.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.81 502.35 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.62 502.35 Td (manage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.84 502.35 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.15 502.35 Td (investors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.63 502.35 Td (seek ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.86 502.35 Td (higher ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.25 502.35 Td (yields. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.95 502.35 Td (Any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.60 502.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.92 502.35 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.06 502.35 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.02 502.35 Td (fects ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.41 502.35 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.31 502.35 Td (lower ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.78 502.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.78 502.35 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.84 502.35 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 489.75 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.27 489.75 Td (and, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.51 489.75 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.38 489.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.84 489.75 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.61 489.75 Td (decline ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.38 489.75 Td (without ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.92 489.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.04 489.75 Td (commensurate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.72 489.75 Td (reduction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.83 489.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.45 489.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.91 489.75 Td (expenses, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.89 489.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.35 489.75 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.63 489.75 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.99 489.75 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.78 489.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.15 489.75 Td (reduced.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 464.55 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.63 464.55 Td (low ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.18 464.55 Td (interest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.89 464.55 Td (rate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.43 464.55 Td (environment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.30 464.55 Td (experienced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.82 464.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.79 464.55 Td (recent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.24 464.55 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.19 464.55 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.23 464.55 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.20 464.55 Td (fected ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.64 464.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.27 464.55 Td (yields ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.16 464.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.71 464.55 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.09 464.55 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.04 464.55 Td (funds, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 451.95 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.06 451.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.79 451.95 Td (based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.60 451.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.00 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.73 451.95 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.54 451.95 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.85 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.59 451.95 Td (underlying ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.98 451.95 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.54 451.95 Td (less ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.19 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.92 451.95 Td (operating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.48 451.95 Td (costs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.39 451.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.04 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.77 451.95 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.49 451.95 Td (When ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.47 451.95 Td (short-term ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.11 451.95 Td (interest ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (rates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.55 439.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.60 439.35 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.42 439.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.39 439.35 Td (near ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.69 439.35 Td (zero, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.62 439.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.68 439.35 Td (operating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.57 439.35 Td (expenses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.70 439.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.68 439.35 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.49 439.35 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.88 439.35 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.44 439.35 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.75 439.35 Td (become ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.64 439.35 Td (greater ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.01 439.35 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.32 439.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.38 439.35 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.52 439.35 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.16 439.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (underlying ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.38 426.75 Td (securities, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.04 426.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.09 426.75 Td (reduces ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.54 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.76 426.75 Td (yield ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.14 426.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.27 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.49 426.75 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.45 426.75 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.99 426.75 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.71 426.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.27 426.75 Td (very ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.31 426.75 Td (low ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.45 426.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.58 426.75 Td (negative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.54 426.75 Td (levels. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.04 426.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.17 426.75 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.60 426.75 Td (bank ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (deposits ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.06 414.15 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.28 414.15 Td (become ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.07 414.15 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.78 414.15 Td (attractive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.98 414.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.29 414.15 Td (investors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.34 414.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.64 414.15 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.36 414.15 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.66 414.15 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.13 414.15 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.60 414.15 Td (experience ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.20 414.15 Td (redemptions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.88 414.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.68 414.15 Td (could ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 401.55 Td (decrease ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.62 401.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.61 401.55 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.91 401.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.06 401.55 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.87 401.55 Td (income. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.39 401.55 Td (During ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.12 401.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.94 401.55 Td (previous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.09 401.55 Td (four ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.57 401.55 Td (fiscal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.29 401.55 Td (years, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.06 401.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.29 401.55 Td (voluntarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.35 401.55 Td (waived ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.66 401.55 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.21 401.55 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.10 401.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.84 401.55 Td (assumed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 388.95 Td (expenses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.21 388.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.75 388.95 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.13 388.95 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.08 388.95 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.22 388.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.26 388.95 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.63 388.95 Td (reasons, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.55 388.95 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.59 388.95 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.14 388.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.11 388.95 Td (maintain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.65 388.95 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.02 388.95 Td (yields, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.53 388.95 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.99 388.95 Td (reduced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.02 388.95 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (advisory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.86 376.35 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.87 376.35 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.98 376.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.33 376.35 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.36 376.35 Td (income. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.93 376.35 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.45 376.35 Td (actual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.71 376.35 Td (amount ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.41 376.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.35 376.35 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.45 376.35 Td (waived ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.97 376.35 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.50 376.35 Td (dependent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.84 376.35 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.54 376.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.40 376.35 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.67 376.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.61 376.35 Td (variables ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.71 376.35 Td (including, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.75 Td (among ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.32 363.75 Td (others, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.84 363.75 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.90 363.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.30 363.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.37 363.75 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.43 363.75 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.17 363.75 Td (held ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.48 363.75 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.22 363.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.46 363.75 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.27 363.75 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.66 363.75 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.86 363.75 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.92 363.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.32 363.75 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.71 363.75 Td (yields, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.66 363.75 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.71 363.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.12 363.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.18 363.75 Td (expense ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (levels ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.05 351.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.86 351.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.74 351.15 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.76 351.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.98 351.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.03 351.15 Td (willingness ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.93 351.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.16 351.15 Td (voluntarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.29 351.15 Td (continue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.51 351.15 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.81 351.15 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.69 351.15 Td (waivers. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.88 351.15 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.01 351.15 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.88 351.15 Td (waivers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.60 351.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.90 351.15 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.53 351.15 Td (reasons ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.55 Td (resulted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.55 338.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.53 338.55 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.99 338.55 Td ($22 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.55 338.55 Td (million ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.69 338.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.67 338.55 Td (reduced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.71 338.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.60 338.55 Td (advisory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.57 338.55 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.69 338.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.67 338.55 Td (fiscal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.22 338.55 Td (year ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.10 338.55 Td (2017. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.53 338.55 Td (Given ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.00 338.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.64 338.55 Td (current ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.18 338.55 Td (higher ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 325.95 Td (interest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.03 325.95 Td (rate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.39 325.95 Td (environment, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.71 325.95 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.16 325.95 Td (waivers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.44 325.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.30 325.95 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.50 325.95 Td (reasons ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.61 325.95 Td (did ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.66 325.95 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.70 325.95 Td (continue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.48 325.95 Td (into ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.44 325.95 Td (fiscal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.80 325.95 Td (year ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.50 325.95 Td (2018.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 300.75 Td (Competition in the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.25 300.75 Td (Asset Management Industry Could Reduce our Revenues and Net Income) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 275.55 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.12 275.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.83 275.55 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.78 275.55 Td (industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.49 275.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.96 275.55 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.92 275.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.46 275.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.58 275.55 Td (engaged ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.86 275.55 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.16 275.55 Td (extremely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.44 275.55 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.31 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.76 275.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.31 275.55 Td (face ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.08 275.55 Td (substantial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (competition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.34 262.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.18 262.95 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.35 262.95 Td (aspects ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.35 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.78 262.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.45 262.95 Td (business. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.15 262.95 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.22 262.95 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.56 262.95 Td (compete ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.80 262.95 Td (based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.39 262.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.57 262.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.90 262.95 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.66 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.08 262.95 Td (factors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.33 262.95 Td (including: ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.59 262.95 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.34 262.95 Td (performance, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.50 250.35 Td (level ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.08 250.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.01 250.35 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.09 250.35 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.96 250.35 Td (ged, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.93 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.93 250.35 Td (quality ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.27 250.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.60 250.35 Td (diversity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.52 250.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.45 250.35 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.44 250.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.78 250.35 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.11 250.35 Td (provided, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.24 250.35 Td (name ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.15 250.35 Td (recognition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.15 250.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.48 250.35 Td (reputation, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.85 250.35 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.69 237.75 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.89 237.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.42 237.75 Td (develop ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.03 237.75 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.89 237.75 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.33 237.75 Td (strategies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.35 237.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.88 237.75 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.41 237.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.94 237.75 Td (meet ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.71 237.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.91 237.75 Td (changing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.76 237.75 Td (needs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.04 237.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.15 237.75 Td (investors. ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 475.89 237.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 494.58 237.75 Td (introduction ) Tj ET Q
q 0 0 0 rg BT 548.27 237.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 225.15 Td (new ) Tj ET Q
q 0 0 0 rg BT 69.98 225.15 Td (technologies, ) Tj ET Q
q 0 0 0 rg BT 128.65 225.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 140.38 225.15 Td (well ) Tj ET Q
q 0 0 0 rg BT 161.44 225.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 173.17 225.15 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 219.31 225.15 Td (changes, ) Tj ET Q
q 0 0 0 rg BT 258.73 225.15 Td (have ) Tj ET Q
q 0 0 0 rg BT 281.54 225.15 Td (altered ) Tj ET Q
q 0 0 0 rg BT 313.08 225.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 328.89 225.15 Td (competitive ) Tj ET Q
q 0 0 0 rg BT 381.44 225.15 Td (landscape ) Tj ET Q
q 0 0 0 rg BT 425.82 225.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 441.05 225.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 464.44 225.15 Td (managers, ) Tj ET Q
q 0 0 0 rg BT 510.28 225.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 538.93 225.15 Td (may ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 212.55 Td (lead ) Tj ET Q
q 0 0 0 rg BT 69.09 212.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 79.36 212.55 Td (fee ) Tj ET Q
q 0 0 0 rg BT 94.27 212.55 Td (compression ) Tj ET Q
q 0 0 0 rg BT 149.45 212.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 160.29 212.55 Td (require ) Tj ET Q
q 0 0 0 rg BT 192.13 212.55 Td (us ) Tj ET Q
q 0 0 0 rg BT 203.56 212.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 213.83 212.55 Td (spend ) Tj ET Q
q 0 0 0 rg BT 240.43 212.55 Td (more ) Tj ET Q
q 0 0 0 rg BT 264.10 212.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 274.37 212.55 Td (modify ) Tj ET Q
q 0 0 0 rg BT 306.80 212.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 317.64 212.55 Td (adapt ) Tj ET Q
q 0 0 0 rg BT 342.48 212.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 358.58 212.55 Td (product ) Tj ET Q
q 0 0 0 rg BT 392.75 212.55 Td (of) Tj ET Q
q 0 0 0 rg BT 401.31 212.55 Td (ferings ) Tj ET Q
q 0 0 0 rg BT 432.57 212.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 442.83 212.55 Td (attract ) Tj ET Q
q 0 0 0 rg BT 471.17 212.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 488.43 212.55 Td (retain ) Tj ET Q
q 0 0 0 rg BT 514.43 212.55 Td (customers ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 199.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.16 199.95 Td (remain ) Tj ET Q
q 0 0 0 rg BT 98.82 199.95 Td (competitive ) Tj ET Q
q 0 0 0 rg BT 150.89 199.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 172.06 199.95 Td (products ) Tj ET Q
q 0 0 0 rg BT 210.72 199.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 228.38 199.95 Td (services ) Tj ET Q
q 0 0 0 rg BT 264.71 199.95 Td (of) Tj ET Q
q 0 0 0 rg BT 273.26 199.95 Td (fered ) Tj ET Q
q 0 0 0 rg BT 297.33 199.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 310.33 199.95 Td (other ) Tj ET Q
q 0 0 0 rg BT 334.41 199.95 Td (financial ) Tj ET Q
q 0 0 0 rg BT 373.64 199.95 Td (institutions, ) Tj ET Q
q 0 0 0 rg BT 425.44 199.95 Td (technology ) Tj ET Q
q 0 0 0 rg BT 474.60 199.95 Td (companies, ) Tj ET Q
q 0 0 0 rg BT 524.63 199.95 Td (trading, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 187.35 Td (advisory ) Tj ET Q
q 0 0 0 rg BT 88.13 187.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 99.35 187.35 Td (asset ) Tj ET Q
q 0 0 0 rg BT 122.23 187.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 178.34 187.35 Td (firms. ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.42 187.35 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.49 187.35 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.62 187.35 Td (compete ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.65 187.35 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.79 187.35 Td (numerous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.67 187.35 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.21 187.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.83 187.35 Td (domestic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.21 187.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.09 187.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.21 187.35 Td (firms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.84 187.35 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 174.75 Td (broker) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.69 174.75 Td (-dealers, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.26 174.75 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.13 174.75 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.08 174.75 Td (complexes, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.32 174.75 Td (hedge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.09 174.75 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.76 174.75 Td (commercial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.03 174.75 Td (banks, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.86 174.75 Td (insurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.80 174.75 Td (companies, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.03 174.75 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.31 174.75 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.10 174.75 Td (companies ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 162.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.74 162.15 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.38 162.15 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.19 162.15 Td (institutions. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.57 162.15 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.64 162.15 Td (Many ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.21 162.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.04 162.15 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.69 162.15 Td (or) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.24 162.15 Td (ganizations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.14 162.15 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.70 162.15 Td (fer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.42 162.15 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.66 162.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.90 162.15 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.79 162.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.61 162.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.50 162.15 Td (similar ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.74 162.15 Td (to, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.61 162.15 Td (or) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 518.35 162.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.43 162.15 Td (compete ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 149.55 Td (with, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.58 149.55 Td (those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.53 149.55 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.08 149.55 Td (fered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.43 149.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.72 149.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.50 149.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.69 149.55 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.71 149.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.65 149.55 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.26 149.55 Td (substantially ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.13 149.55 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.48 149.55 Td (personnel ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.09 149.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.03 149.55 Td (greater ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.96 149.55 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.48 149.55 Td (resources ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.91 149.55 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.77 149.55 Td (we ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 136.95 Td (do. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.87 136.95 Td (Some ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.03 136.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.01 136.95 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.83 136.95 Td (competitors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.65 136.95 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.71 136.95 Td (proprietary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.60 136.95 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.00 136.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.40 136.95 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.07 136.95 Td (channels ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.04 136.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.03 136.95 Td (make ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.01 136.95 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.09 136.95 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.90 136.95 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.38 136.95 Td (ficult ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.78 136.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.26 136.95 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.84 136.95 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 124.35 Td (compete ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.98 124.35 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.56 124.35 Td (them. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.09 124.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.75 124.35 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.70 124.35 Td (many ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.94 124.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.59 124.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.50 124.35 Td (competitors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.99 124.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.72 124.35 Td (long-standing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.38 124.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.45 124.35 Td (established ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.02 124.35 Td (relationships ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.59 124.35 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.17 124.35 Td (distributors ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 111.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.05 111.75 Td (clients. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.47 111.75 Td (From ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.61 111.75 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.66 111.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.21 111.75 Td (time, ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 691.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.46 691.35 Td (heavily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.57 691.35 Td (capitalized ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.25 691.35 Td (companies, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.99 691.35 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.86 691.35 Td (commercial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.63 691.35 Td (banks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.33 691.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.70 691.35 Td (foreign ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.23 691.35 Td (entities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.77 691.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.80 691.35 Td (made ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.75 691.35 Td (investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.12 691.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.49 691.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.86 691.35 Td (acquired ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 678.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.21 678.75 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.14 678.75 Td (firms. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.50 678.75 Td (Access ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.53 678.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.99 678.75 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.45 678.75 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.99 678.75 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.71 678.75 Td (channels ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.74 678.75 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.03 678.75 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.24 678.75 Td (become ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.18 678.75 Td (increasingly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.79 678.75 Td (competitive. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.55 678.75 Td (All ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.26 678.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 666.15 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.91 666.15 Td (factors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.32 666.15 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.49 666.15 Td (make ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.07 666.15 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.74 666.15 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.15 666.15 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.63 666.15 Td (ficult ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.63 666.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.71 666.15 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.88 666.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.89 666.15 Td (compete, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.92 666.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.92 666.15 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.26 666.15 Td (assurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.91 666.15 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.32 666.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.07 666.15 Td (given ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.24 666.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.82 666.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.90 666.15 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.08 666.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.83 666.15 Td (successful ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.82 666.15 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 653.55 Td (competing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.65 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.64 653.55 Td (growing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.46 653.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.66 653.55 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.99 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.98 653.55 Td (business. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.02 653.55 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.84 653.55 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.08 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.07 653.55 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.64 653.55 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.88 653.55 Td (decide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.10 653.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.10 653.55 Td (use ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.92 653.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.58 653.55 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.23 653.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.80 653.55 Td (competitors, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.06 640.95 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.10 640.95 Td (reduce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.80 640.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.52 640.95 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.56 640.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.44 640.95 Td (growth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.91 640.95 Td (rate, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.99 640.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.87 640.95 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.00 640.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.72 640.95 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.76 640.95 Td (decrease ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.61 640.95 Td (without ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.42 640.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.80 640.95 Td (commensurate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.75 640.95 Td (reduction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.12 640.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.01 640.95 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.35 Td (expenses, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.46 628.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.89 628.35 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.16 628.35 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.50 628.35 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.27 628.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.61 628.35 Td (reduced. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.90 628.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.08 628.35 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.69 628.35 Td (regard, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.56 628.35 Td (there ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.98 628.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.23 628.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.32 628.35 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.83 628.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.01 628.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.86 628.35 Td (classes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.45 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.05 628.35 Td (product ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.56 628.35 Td (types ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.15 628.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.33 628.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.59 628.35 Td (not ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.75 Td (well ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.67 615.75 Td (covered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.99 615.75 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.58 615.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.67 615.75 Td (current ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.49 615.75 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.74 615.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.99 615.75 Td (services. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.30 615.75 Td (When ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.46 615.75 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.13 615.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.63 615.75 Td (classes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.88 615.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.72 615.75 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.97 615.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.88 615.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.13 615.75 Td (favor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.38 615.75 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.14 615.75 Td (investors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.77 615.75 Td (we ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.15 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.59 603.15 Td (miss ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.60 603.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.19 603.15 Td (opportunity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.94 603.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.87 603.15 Td (gain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.70 603.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.29 603.15 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.54 603.15 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.20 603.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.60 603.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.10 603.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.68 603.15 Td (being ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.76 603.15 Td (invested ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.51 603.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.43 603.15 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.77 603.15 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.02 603.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.94 603.15 Td (face ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.17 603.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.75 603.15 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.26 603.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 590.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.89 590.55 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.18 590.55 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.07 590.55 Td (being ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.79 590.55 Td (withdrawn ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.09 590.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.65 590.55 Td (favor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.19 590.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.33 590.55 Td (competitors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.30 590.55 Td (who ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.77 590.55 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.24 590.55 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.45 590.55 Td (covering ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.58 590.55 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.54 590.55 Td (classes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.09 590.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.23 590.55 Td (products. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.41 590.55 Td (For ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 577.95 Td (example, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.19 577.95 Td (there ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.66 577.95 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.16 577.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.31 577.95 Td (trend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.38 577.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.04 577.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.36 577.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.27 577.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.41 577.95 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.49 577.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.15 577.95 Td (favor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.80 577.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.04 577.95 Td (passive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.44 577.95 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.09 577.95 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.83 577.95 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.07 577.95 Td (index ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.90 577.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.55 577.95 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.61 577.95 Td (types ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.26 577.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (ETFs, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.55 565.35 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.88 565.35 Td (favors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.79 565.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.46 565.35 Td (competitors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.70 565.35 Td (who ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.45 565.35 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.20 565.35 Td (those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.03 565.35 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.86 565.35 Td (over ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.19 565.35 Td (active ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.93 565.35 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.83 565.35 Td (like ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.25 565.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.91 565.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.99 565.35 Td (managers. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.52 565.35 Td (Investors ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.80 552.75 Td (increasingly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.60 552.75 Td (attracted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.22 552.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.87 552.75 Td (lower ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.26 552.75 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.56 552.75 Td (passive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.95 552.75 Td (products, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.22 552.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.36 552.75 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.66 552.75 Td (gained ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.13 552.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.78 552.75 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.34 552.75 Td (continue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.97 552.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.62 552.75 Td (gain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.18 552.75 Td (share ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.82 552.75 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.88 552.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.19 552.75 Td (expense ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.04 540.15 Td (active ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.91 540.15 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.87 540.15 Td (like ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.41 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.04 540.15 Td (ones ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.08 540.15 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.78 540.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.08 540.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.87 540.15 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.84 540.15 Td (filiates, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.84 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.80 540.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.84 540.15 Td (continue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.79 540.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.76 540.15 Td (face ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.03 540.15 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.98 540.15 Td (pressures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.85 540.15 Td (regarding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.88 540.15 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.50 540.15 Td (levels ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.70 527.55 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.30 527.55 Td (products. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.12 527.55 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.90 527.55 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.97 527.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.00 527.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.45 527.55 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.72 527.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.57 527.55 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.02 527.55 Td (typically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.79 527.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.66 527.55 Td (lowest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.11 527.55 Td (cost ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.06 527.55 Td (provider ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.66 527.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.44 527.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.89 527.55 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.57 527.55 Td (services. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 55.18 514.95 Td (o ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 63.25 514.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.90 514.95 Td (extent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.37 514.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.94 514.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.00 514.95 Td (compete ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.39 514.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.71 514.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.36 514.95 Td (basis ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.18 514.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.75 514.95 Td (price ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.55 514.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.54 514.95 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.52 514.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.08 514.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.90 514.95 Td (businesses, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.68 514.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.74 514.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.64 514.95 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.88 514.95 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.61 514.95 Td (able ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.92 514.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.91 514.95 Td (maintain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.47 514.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.28 514.95 Td (current ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.90 502.35 Td (structure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.22 502.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.97 502.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.29 502.35 Td (business, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.09 502.35 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.33 502.35 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.24 502.35 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.05 502.35 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.02 502.35 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.34 502.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.92 502.35 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.81 502.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.55 502.35 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.96 502.35 Td (income. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.08 502.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.41 502.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.81 502.35 Td (retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.97 502.35 Td (separately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.11 502.35 Td (managed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 489.75 Td (account ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.80 489.75 Td (program ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.01 489.75 Td (business, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.87 489.75 Td (there ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.50 489.75 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.15 489.75 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.61 489.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.92 489.75 Td (trend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.14 489.75 Td (toward ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.94 489.75 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.16 489.75 Td (open ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.22 489.75 Td (programs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.52 489.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.92 489.75 Td (involve ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.06 489.75 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.28 489.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.34 489.75 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.21 489.75 Td (who ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.94 489.75 Td (provide ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.15 Td (only ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 69.89 477.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.68 477.15 Td (models ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.73 477.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.11 477.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.66 477.15 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.10 477.15 Td (institution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.41 477.15 Td (sponsor's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.78 477.15 Td (employees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.40 477.15 Td (use ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.11 477.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.00 477.15 Td (allocate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.36 477.15 Td (assets. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.82 477.15 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.83 477.15 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.55 477.15 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.34 477.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.80 477.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.35 477.15 Td (programs ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 464.55 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 63.89 464.55 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.69 464.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.08 464.55 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.29 464.55 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.26 464.55 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.22 464.55 Td (followed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.69 464.55 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.00 464.55 Td (trend, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.35 464.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.65 464.55 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.78 464.55 Td (programs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.59 464.55 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.06 464.55 Td (do ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.70 464.55 Td (so ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.18 464.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.49 464.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.46 464.55 Td (future. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.15 464.55 Td (This ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.96 464.55 Td (trend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.67 464.55 Td (could ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 451.95 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.30 451.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.61 451.95 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.58 451.95 Td (retention ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.37 451.95 Td (issues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.92 451.95 Td (due ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.55 451.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.19 451.95 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.64 451.95 Td (competition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.27 451.95 Td (within ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.57 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.87 451.95 Td (programs, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.62 451.95 Td (particularly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.48 451.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.19 451.95 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.82 451.95 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.96 451.95 Td (performance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (issues, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.63 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.20 439.35 Td (reduced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.84 439.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.90 439.35 Td (fees, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.84 439.35 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.91 439.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.14 439.35 Td (typical ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.13 439.35 Td (results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.96 439.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.12 439.35 Td (providing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.36 439.35 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.85 439.35 Td (models ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.60 439.35 Td (rather ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.49 439.35 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.98 439.35 Td (advisory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.55 439.35 Td (services.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 414.15 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.57 414.15 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.90 414.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.64 414.15 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.79 414.15 Td (management. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.19 414.15 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.60 414.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.00 414.15 Td (result, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.70 414.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.68 414.15 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.50 414.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.15 414.15 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.46 414.15 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.43 414.15 Td (fected ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.81 414.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.05 414.15 Td (trends ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.45 414.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.35 414.15 Td (issues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.18 414.15 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.15 414.15 Td (fecting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.04 414.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.61 414.15 Td (asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 401.55 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.39 401.55 Td (industry) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.13 401.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.01 401.55 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.50 401.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.50 401.55 Td (industry-wide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.07 401.55 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.47 401.55 Td (issues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.81 401.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.22 401.55 Td (inquiries, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.84 401.55 Td (publicity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.42 401.55 Td (about, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.62 401.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.03 401.55 Td (public ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.53 401.55 Td (perceptions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.18 401.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.17 401.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 388.95 Td (industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.20 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.65 388.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.35 388.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.28 388.95 Td (industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.98 388.95 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.42 388.95 Td (cycles, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.56 388.95 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.93 388.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.79 388.95 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.80 388.95 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.91 388.95 Td (companies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.09 388.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.13 388.95 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.23 388.95 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.09 388.95 Td (diversified ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (businesses.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 351.15 Td (Failure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.26 351.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.51 351.15 Td (Properly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.60 351.15 Td (Address ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.11 351.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.61 351.15 Td (Increased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.27 351.15 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.30 351.15 Td (ransformative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.05 351.15 Td (Pressures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.83 351.15 Td (Af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.14 351.15 Td (fecting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.96 351.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.15 351.15 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.99 351.15 Td (Management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.24 351.15 Td (Industry ) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.55 Td (Could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.39 338.55 Td (Negatively ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.49 338.55 Td (Impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.45 338.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.25 338.55 Td (Business) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 313.35 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.62 313.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.83 313.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.27 313.35 Td (industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.48 313.35 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.28 313.35 Td (facing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.31 313.35 Td (transformative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.33 313.35 Td (pressures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.20 313.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.16 313.35 Td (trends ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.62 313.35 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.82 313.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.28 313.35 Td (variety ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.23 313.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.77 313.35 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.24 313.35 Td (ferent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.52 313.35 Td (sources ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (including:) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 288.15 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 288.15 Td (Increased fee pressure;) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 275.55 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 275.55 Td (Increased demand from clients and distributors for client engagement and value-added services;) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 262.95 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 262.95 Td (Diver) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.22 262.95 Td (gent central bank monetary policies between the U.S Federal Reserve and the central banks of other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 250.35 Td (developed economies;) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 237.75 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 237.75 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.50 237.75 Td ( continued shift away from core equities and fixed income strategies and towards alternative, passive, and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 225.15 Td (smart beta strategies;) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 212.55 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 212.55 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.50 212.55 Td ( trend towards institutions developing fewer relationships and partners and reducing the number of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 199.95 Td (investment managers they work with;) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 187.35 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 187.35 Td (Increased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.00 187.35 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.42 187.35 Td (activity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.19 187.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.63 187.35 Td (scrutiny ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.73 187.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.76 187.35 Td (many ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.36 187.35 Td (aspects ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.96 187.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.98 187.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.09 187.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.78 187.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.70 187.35 Td (industry) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.43 187.35 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.33 187.35 Td (including ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 174.75 Td (transparency/unbundling ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.00 174.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.86 174.75 Td (fees, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.50 174.75 Td (inducements, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.31 174.75 Td (conflicts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.58 174.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.44 174.75 Td (interest, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.08 174.75 Td (capital, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.80 174.75 Td (liquidity) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.70 174.75 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.44 174.75 Td (solvency) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.08 174.75 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.82 174.75 Td (leverage, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 162.15 Td (operational ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.36 162.15 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.73 162.15 Td (management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.63 162.15 Td (controls ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.08 162.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.87 162.15 Td (compensation;) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 149.55 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 149.55 Td (Addressing the key emer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.99 149.55 Td (ging markets in the world, such as China and India, which often have populations ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 136.95 Td (with dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.27 136.95 Td (ferent needs, preferences and horizons than the more developed U.S. and European markets; and) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 124.35 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 124.35 Td (Advances in technology and increasing client interest in interacting digitally with their investment portfolios.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 99.15 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.28 99.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.04 99.15 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.48 99.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.33 99.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.27 99.15 Td (trends ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.04 99.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.31 99.15 Td (pressures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.49 99.15 Td (discussed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.84 99.15 Td (above, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.65 99.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.58 99.15 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.10 99.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.85 99.15 Td (industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.38 99.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.49 99.15 Td (facing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.83 99.15 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.85 99.15 Td (increased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.60 99.15 Td (level ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 86.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.15 86.55 Td (disruption. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.27 86.55 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.17 86.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.33 86.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.05 86.55 Td (unable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.95 86.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.03 86.55 Td (adapt ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.67 86.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.58 86.55 Td (strategy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.72 86.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.79 86.55 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.29 86.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.36 86.55 Td (adequately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.75 86.55 Td (address ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.15 86.55 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.63 86.55 Td (trends ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.20 86.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.27 86.55 Td (pressures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.25 86.55 Td (listed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 73.95 Td (above, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.38 73.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.80 73.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.06 73.95 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.15 73.95 Td (unable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.31 73.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.66 73.95 Td (satisfactorily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.07 73.95 Td (meet ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.66 73.95 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.16 73.95 Td (needs, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.88 73.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.05 73.95 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.80 73.95 Td (position ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.82 73.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.07 73.95 Td (weaken ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.32 73.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.66 73.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.83 73.95 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.60 73.95 Td (results ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 61.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.29 61.35 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.65 61.35 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.35 61.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.89 61.35 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.75 61.35 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.71 61.35 Td (fected.) Tj ET Q
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q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q
q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q
BT /F1 10.00 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 300.75 31.25 Td (21) Tj ET Q
BT /F3 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.35 741.90 Td (Government ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.66 741.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.65 741.90 Td (Retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.97 741.90 Td (Money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.36 741.90 Td (Market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.51 741.90 Td (Funds ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.00 741.90 Td (Maintain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.92 741.90 Td (Their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.49 741.90 Td (Stable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.97 741.90 Td (Net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.39 741.90 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.79 741.90 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.63 741.90 Td (alues, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.66 741.90 Td (or ) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 729.30 Td (Other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.21 729.30 Td (Products ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.00 729.30 Td (Manage, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.64 729.30 Td (Which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.86 729.30 Td (Could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.36 729.30 Td (Af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.67 729.30 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.03 729.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.83 729.30 Td (Revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.87 729.30 Td (or ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 704.10 Td (Approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.68 704.10 Td (5% ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.28 704.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.63 704.10 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.66 704.10 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.77 704.10 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.13 704.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.48 704.10 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.49 704.10 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.22 704.10 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.46 704.10 Td (consisted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.14 704.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.49 704.10 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.60 704.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.37 704.10 Td (government ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.13 704.10 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.49 704.10 Td (retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.66 704.10 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.85 704.10 Td (market ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 691.50 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.02 691.50 Td (Money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.33 691.50 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.05 691.50 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.95 691.50 Td (seek ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.17 691.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.91 691.50 Td (preserve ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.03 691.50 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.26 691.50 Td (stable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.32 691.50 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.71 691.50 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.69 691.50 Td (value. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.43 691.50 Td (While ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.65 691.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.04 691.50 Td (SEC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.87 691.50 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.43 691.50 Td (implemented ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.81 691.50 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.79 691.50 Td (requiring ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.84 691.50 Td (any ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 678.90 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.50 678.90 Td (prime ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.82 678.90 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.23 678.90 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.21 678.90 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.29 678.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.28 678.90 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.27 678.90 Td (institutional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.27 678.90 Td (municipal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.10 678.90 Td (\(or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.17 678.90 Td (tax-exempt\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.73 678.90 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.14 678.90 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.12 678.90 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.20 678.90 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.77 678.90 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.61 678.90 Td (registered ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 666.30 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.49 666.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.40 666.30 Td (Investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.14 666.30 Td (Company ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.37 666.30 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.62 666.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.45 666.30 Td (1940 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.53 666.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.78 666.30 Td (utilize ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.10 666.30 Td (market-based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.74 666.30 Td (valuations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.98 666.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.23 666.30 Td (calculate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.62 666.30 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.37 666.30 Td (floating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.11 666.30 Td (NA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.92 666.30 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.15 666.30 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.86 666.30 Td (government ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 653.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.94 653.70 Td (retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.79 653.70 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.65 653.70 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.09 653.70 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.70 653.70 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.55 653.70 Td (continue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.99 653.70 Td (using ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.03 653.70 Td (current ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.04 653.70 Td (pricing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.06 653.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.50 653.70 Td (accounting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.85 653.70 Td (methods ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.72 653.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.17 653.70 Td (seek ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.10 653.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.55 653.70 Td (maintain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.58 653.70 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.52 653.70 Td (stable ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 641.10 Td (NA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 63.31 641.10 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 69.54 641.10 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.00 641.10 Td (Market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.16 641.10 Td (conditions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.74 641.10 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.90 641.10 Td (lead ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.23 641.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.23 641.10 Td (severe ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.88 641.10 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.30 641.10 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.88 641.10 Td (security ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.95 641.10 Td (pricing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.53 641.10 Td (issues, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.07 641.10 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.57 641.10 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.73 641.10 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.14 641.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.80 641.10 Td (NA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.61 641.10 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.01 641.10 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.84 641.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.42 641.10 Td (money ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.50 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.47 628.50 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.25 628.50 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.07 628.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.72 628.50 Td (NA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.53 628.50 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.92 628.50 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.74 628.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.31 628.50 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.79 628.50 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.19 628.50 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.17 628.50 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.24 628.50 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.96 628.50 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.28 628.50 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.10 628.50 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.33 628.50 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.38 628.50 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.60 628.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.59 628.50 Td (fall ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.41 628.50 Td (below ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.89 628.50 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.63 628.50 Td (stable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.95 628.50 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.59 628.50 Td (asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.90 Td (value, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.91 615.90 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.19 615.90 Td (would ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.48 615.90 Td (likely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.44 615.90 Td (experience ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.95 615.90 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.31 615.90 Td (redemptions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.26 615.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.80 615.90 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.34 615.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.54 615.90 Td (reputational ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.73 615.90 Td (harm, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.98 615.90 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.68 615.90 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.05 615.90 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.91 615.90 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.61 615.90 Td (material ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.30 Td (adverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.19 603.30 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.16 603.30 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.52 603.30 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.64 603.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.26 603.30 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.20 603.30 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.58 603.30 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.03 603.30 Td (income.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 578.10 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.04 578.10 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.25 578.10 Td (government ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.95 578.10 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.24 578.10 Td (retail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.36 578.10 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.48 578.10 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.18 578.10 Td (fund's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.95 578.10 Td (stable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.99 578.10 Td (NA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.81 578.10 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.20 578.10 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.75 578.10 Td (comes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.12 578.10 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.57 578.10 Td (pressure, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.73 578.10 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.52 578.10 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.15 578.10 Td (elect, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.14 578.10 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.43 578.10 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.22 578.10 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.59 578.10 Td (done ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.20 565.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.57 565.50 Td (past, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.64 565.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.34 565.50 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.95 565.50 Td (credit, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.02 565.50 Td (liquidity) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.92 565.50 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.08 565.50 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.36 565.50 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.47 565.50 Td (support ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.51 565.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.21 565.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.58 565.50 Td (fund. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.80 565.50 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.87 565.50 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.06 565.50 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.68 565.50 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.13 565.50 Td (elect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.48 565.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.18 565.50 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.79 565.50 Td (similar ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.49 565.50 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.77 565.50 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.88 565.50 Td (support, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.90 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.40 552.90 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.14 552.90 Td (providing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.21 552.90 Td (liquidity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.04 552.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.44 552.90 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.34 552.90 Td (fund, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.45 552.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.86 552.90 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.67 552.90 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.07 552.90 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.56 552.90 Td (manage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.44 552.90 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.93 552.90 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.32 552.90 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.64 552.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.62 552.90 Td (reasons. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.74 552.90 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.81 552.90 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.71 552.90 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.77 552.90 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.43 552.90 Td (legally ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.30 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.59 540.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.87 540.30 Td (support ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.48 540.30 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.75 540.30 Td (product ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.93 540.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.20 540.30 Td (there ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.30 540.30 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.98 540.30 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.00 540.30 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.61 540.30 Td (assurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.53 540.30 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.38 540.30 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.65 540.30 Td (support ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.26 540.30 Td (would ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.62 540.30 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.64 540.30 Td (suf) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.29 540.30 Td (ficient ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.22 540.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.49 540.30 Td (avoid ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.93 540.30 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.95 540.30 Td (adverse ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.70 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.16 527.70 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.75 527.70 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.00 527.70 Td (product ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.16 527.70 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.00 527.70 Td (investors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.00 527.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.25 527.70 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.50 527.70 Td (product. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.61 527.70 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.61 527.70 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.70 527.70 Td (decision ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.78 527.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.04 527.70 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.20 527.70 Td (support ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.79 527.70 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.95 527.70 Td (arise ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.86 527.70 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.36 527.70 Td (factors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.02 527.70 Td (specific ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.75 527.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.01 527.70 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 515.10 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.19 515.10 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.46 515.10 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.39 515.10 Td (industry-wide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.24 515.10 Td (factors. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.96 515.10 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.47 515.10 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.24 515.10 Td (elect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.58 515.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.27 515.10 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.87 515.10 Td (support, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.52 515.10 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.29 515.10 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.14 515.10 Td (incur ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.24 515.10 Td (losses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.85 515.10 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.79 515.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.14 515.10 Td (support ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.16 515.10 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.93 515.10 Td (provide ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.05 502.50 Td (incur ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.02 502.50 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.40 502.50 Td (costs, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.42 502.50 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.48 502.50 Td (financing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.52 502.50 Td (costs, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.54 502.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.10 502.50 Td (connection ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.56 502.50 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.62 502.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.84 502.50 Td (support. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.12 502.50 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.58 502.50 Td (losses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.06 502.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.61 502.50 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.00 502.50 Td (costs ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 489.90 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.65 489.90 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.39 489.90 Td (material, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.23 489.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.22 489.90 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.37 489.90 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.43 489.90 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.39 489.90 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.95 489.90 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.77 489.90 Td (earnings. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.79 489.90 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.61 489.90 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.68 489.90 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.90 489.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.89 489.90 Td (take ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.21 489.90 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.28 489.90 Td (actions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.84 489.90 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.91 489.90 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.81 489.90 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.55 489.90 Td (restrict ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.53 489.90 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.35 489.90 Td (corporate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.30 Td (assets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.90 477.30 Td (limiting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.43 477.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.70 477.30 Td (flexibility ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.39 477.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.84 477.30 Td (use ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.11 477.30 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.96 477.30 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.74 477.30 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.25 477.30 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.11 477.30 Td (purposes, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.34 477.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.77 477.30 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.13 477.30 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.32 477.30 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.57 477.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.02 477.30 Td (raise ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.12 477.30 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.38 477.30 Td (capital. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.27 477.30 Td (In ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 464.70 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.66 464.70 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.35 464.70 Td (proposed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.97 464.70 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.24 464.70 Td (reforms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.02 464.70 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.47 464.70 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.83 464.70 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.53 464.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.48 464.70 Td (operating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.25 464.70 Td (results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.79 464.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.66 464.70 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.78 464.70 Td (money ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.49 464.70 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.76 464.70 Td (funds. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.85 464.70 Td (See ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 452.10 Td (�Item ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.03 452.10 Td (1. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.53 452.10 Td (Business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.49 452.10 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.62 452.10 Td (Regulation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.32 452.10 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.44 452.10 Td (Existing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.07 452.10 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.36 452.10 Td (Regulation.�) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 426.90 Td (Failure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.77 426.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.54 426.90 Td (Comply ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.20 426.90 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.15 426.90 Td (ith ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.42 426.90 Td (Contractual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.95 426.90 Td (Requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.64 426.90 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.57 426.90 Td (Guidelines ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.84 426.90 Td (Could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.70 426.90 Td (Result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.73 426.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.08 426.90 Td (Liability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.84 426.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.78 426.90 Td (Loss ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.21 426.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.17 426.90 Td (Assets ) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.30 Td (Under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.54 414.30 Td (Management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.97 414.30 Td (Both ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.60 414.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.79 414.30 Td (Which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.00 414.30 Td (Could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.89 414.30 Td (Cause ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.36 414.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.16 414.30 Td (Net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.94 414.30 Td (Income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.23 414.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.03 414.30 Td (Decline) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 389.10 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.97 389.10 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.53 389.10 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.32 389.10 Td (contracts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.37 389.10 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.42 389.10 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.23 389.10 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.62 389.10 Td (manage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.42 389.10 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.89 389.10 Td (assets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.16 389.10 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.97 389.10 Td (contracts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.02 389.10 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.83 389.10 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.06 389.10 Td (funds, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.50 Td (often ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.45 376.50 Td (specify ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.15 376.50 Td (guidelines ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.69 376.50 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.81 376.50 Td (contractual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.83 376.50 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.03 376.50 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.15 376.50 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.77 376.50 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.97 376.50 Td (obligated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.42 376.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.96 376.50 Td (observe ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.00 376.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.54 376.50 Td (providing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.75 376.50 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.54 376.50 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.56 376.50 Td (services. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.90 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 56.50 363.90 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.38 363.90 Td (failure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.66 363.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.70 363.90 Td (comply ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.07 363.90 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.62 363.90 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.07 363.90 Td (guidelines ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.10 363.90 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.73 363.90 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.42 363.90 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.62 363.90 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.83 363.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.87 363.90 Td (damage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.40 363.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.44 363.90 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.31 363.90 Td (reputation, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.39 363.90 Td (liability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.93 363.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.97 363.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.68 363.90 Td (client ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.30 Td (or) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 58.25 351.30 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.73 351.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.05 351.30 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.86 351.30 Td (reducing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.08 351.30 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.49 351.30 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.48 351.30 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.88 351.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.36 351.30 Td (management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.12 351.30 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.77 351.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.00 351.30 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.15 351.30 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.96 351.30 Td (cause ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.77 351.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.26 351.30 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.06 351.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.71 351.30 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.02 351.30 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.42 351.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.07 351.30 Td (decline. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.70 Td (This ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.03 338.70 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.64 338.70 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.50 338.70 Td (increased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.00 338.70 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.36 338.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.05 338.70 Td (trend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.48 338.70 Td (toward ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.50 338.70 Td (customized, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.81 338.70 Td (specialized ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.31 338.70 Td (mandates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.82 338.70 Td (seen ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.34 338.70 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.70 338.70 Td (many ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.88 338.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.49 338.70 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.35 338.70 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.62 338.70 Td (managers, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.33 338.70 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 326.10 Td (tends ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.29 326.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.08 326.10 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.04 326.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.83 326.10 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.03 326.10 Td (complex ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.81 326.10 Td (mandates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.09 326.10 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.46 326.10 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.90 326.10 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.10 326.10 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.58 326.10 Td (ficult ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.36 326.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.15 326.10 Td (administer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.90 326.10 Td (.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 300.90 Td (The Soundness of Other Financial Institutions Could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.40 300.90 Td (Adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.62 300.90 Td (Af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.93 300.90 Td (fect our Business) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 275.70 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.73 275.70 Td (olatility ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.04 275.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.86 275.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.33 275.70 Td (markets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.22 275.70 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.87 275.70 Td (highlighted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.35 275.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.82 275.70 Td (interconnection ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.78 275.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.17 275.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.65 275.70 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.54 275.70 Td (markets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.43 275.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.24 275.70 Td (demonstrated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.45 275.70 Td (how ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.18 275.70 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 263.10 Td (deteriorating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.54 263.10 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.66 263.10 Td (condition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.71 263.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.85 263.10 Td (one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.40 263.10 Td (institution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.38 263.10 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.85 263.10 Td (materially ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.81 263.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.36 263.10 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.98 263.10 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.95 263.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.16 263.10 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.60 263.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.74 263.10 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.71 263.10 Td (institutions. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 250.50 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.72 250.50 Td (Mason, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.57 250.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.38 250.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.85 250.50 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.83 250.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.64 250.50 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.02 250.50 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.41 250.50 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.30 250.50 Td (manage, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.22 250.50 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.69 250.50 Td (exposure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.24 250.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.05 250.50 Td (many ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.02 250.50 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.50 250.50 Td (ferent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.63 250.50 Td (industries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.10 250.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.91 250.50 Td (counterparties, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.60 237.90 Td (routinely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.46 237.90 Td (execute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.46 237.90 Td (transactions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.56 237.90 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.17 237.90 Td (counterparties ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.59 237.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.70 237.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.47 237.90 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.14 237.90 Td (industry) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.88 237.90 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.31 237.90 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.38 237.90 Td (e, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.61 237.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.71 237.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.48 237.90 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.76 237.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.86 237.90 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.54 237.90 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.73 237.90 Td (manage, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.30 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.36 225.30 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.04 225.30 Td (exposed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.23 225.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.17 225.30 Td (credit, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.48 225.30 Td (operational ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.49 225.30 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.01 225.30 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.36 225.30 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.89 225.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.84 225.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.44 225.30 Td (event ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.96 225.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.48 225.30 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.92 225.30 Td (default ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.85 225.30 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.13 225.30 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.56 225.30 Td (counterparty ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.40 225.30 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.93 225.30 Td (client, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.65 225.30 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.18 225.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.12 225.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.73 225.30 Td (event ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.24 225.30 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 212.70 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.70 212.70 Td (unrelated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.39 212.70 Td (systemic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.76 212.70 Td (failures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.87 212.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.66 212.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.12 212.70 Td (markets.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 187.50 Td (Performance-Based Fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.00 187.50 Td (Arrangements May Increase the V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.19 187.50 Td (olatility of our Revenues) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 162.30 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.50 162.30 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 162.30 Td (portion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.96 162.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.77 162.30 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.83 162.30 Td (total ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.55 162.30 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.93 162.30 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.00 162.30 Td (derived ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.55 162.30 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.02 162.30 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.13 162.30 Td (fees. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.72 162.30 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.11 162.30 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.59 162.30 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.88 162.30 Td (earn ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.01 162.30 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.13 162.30 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.09 162.30 Td (under ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 149.70 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.22 149.70 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.69 149.70 Td (agreements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.65 149.70 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.22 149.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.20 149.70 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.43 149.70 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.63 149.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.95 149.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.93 149.70 Td (portfolio ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.83 149.70 Td (meets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.47 149.70 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.37 149.70 Td (exceeds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.75 149.70 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.56 149.70 Td (specified ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.62 149.70 Td (benchmark. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.04 149.70 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.18 149.70 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 137.10 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.39 137.10 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.25 137.10 Td (does ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.31 137.10 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.55 137.10 Td (meet ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.77 137.10 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.33 137.10 Td (exceed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.28 137.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.92 137.10 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.81 137.10 Td (return ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.70 137.10 Td (benchmark ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.16 137.10 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.22 137.10 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.69 137.10 Td (particular ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.73 137.10 Td (period, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.99 137.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.64 137.10 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.86 137.10 Td (manager ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 124.50 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.73 124.50 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.05 124.50 Td (generate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.50 124.50 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.06 124.50 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.01 124.50 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.73 124.50 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.87 124.50 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.51 124.50 Td (period ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.24 124.50 Td (and, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.92 124.50 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.23 124.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.96 124.50 Td (benchmark ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.50 124.50 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.41 124.50 Td (based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.21 124.50 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.61 124.50 Td (cumulative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.16 124.50 Td (returns, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.84 124.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.57 124.50 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.88 124.50 Td (manager's ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 111.90 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.53 111.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.89 111.90 Td (earn ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.15 111.90 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.40 111.90 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.50 111.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.86 111.90 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.13 111.90 Td (periods ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.24 111.90 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.51 111.90 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.62 111.90 Td (impaired. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.27 111.90 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.14 111.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.08 111.90 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.68 111.90 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.00 111.90 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.82 111.90 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.67 111.90 Td (1) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.53 111.90 Td (1% ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.72 111.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.66 111.90 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.85 111.90 Td (long-) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 99.30 Td (term ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.29 99.30 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.07 99.30 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.68 99.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.12 99.30 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.13 99.30 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.15 99.30 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.59 99.30 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.61 99.30 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.70 99.30 Td (eligible ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.47 99.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.91 99.30 Td (earn ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.25 99.30 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.58 99.30 Td (fees. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.38 99.30 Td (Performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.30 99.30 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.47 99.30 Td (earned ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.73 99.30 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.50 99.30 Td (historic ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 86.70 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.15 86.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.47 86.70 Td (place ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.77 86.70 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.67 86.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.57 86.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.55 86.70 Td (closing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.04 86.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.93 86.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.91 86.70 Td (acquisition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.14 86.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.04 86.70 Td (Clarion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.69 86.70 Td (Partners ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.25 86.70 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.21 86.70 Td (April ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.52 86.70 Td (13, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.80 86.70 Td (2016 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.95 86.70 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.92 86.70 Td (fully ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.90 86.70 Td (passed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.05 86.70 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.87 86.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.19 86.70 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 74.10 Td (Clarion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.85 74.10 Td (Partners ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.11 74.10 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.61 74.10 Td (team, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.49 74.10 Td (per ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.75 74.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.43 74.10 Td (terms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.62 74.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.21 74.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.90 74.10 Td (acquisition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.83 74.10 Td (agreement. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.82 74.10 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.89 74.10 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.41 74.10 Td (expect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.66 74.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.34 74.10 Td (pass ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.28 74.10 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.79 74.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.81 74.10 Td (phase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.58 74.10 Td (out ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 61.50 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.21 61.50 Td (five ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.60 61.50 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.81 61.50 Td (post-closing. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.83 61.50 Td (Exclusive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.30 61.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.11 61.50 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.75 61.50 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.86 61.50 Td (fees, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.46 61.50 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.17 61.50 Td (7% ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.23 61.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.03 61.50 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.09 61.50 Td (long-term ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.11 61.50 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 540.67 61.50 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 48.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.97 48.90 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.01 48.90 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.06 48.90 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.76 48.90 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.12 48.90 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.24 48.90 Td (eligible ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.03 48.90 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.08 48.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.13 48.90 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.84 48.90 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.27 48.90 Td (2018. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.20 48.90 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.33 48.90 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.40 48.90 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.37 48.90 Td (earned ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.65 48.90 Td ($227.8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.83 48.90 Td (million, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.09 48.90 Td ($108.3 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.27 48.90 Td (million ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.91 48.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.37 48.90 Td ($42.0 ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 300.75 31.25 Td (22) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 741.75 Td (million ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.56 741.75 Td (in ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.23 741.75 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.86 741.75 Td (during ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.00 741.75 Td (fiscal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.46 741.75 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.34 741.75 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.69 741.75 Td (2017 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.42 741.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.30 741.75 Td (2016, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.65 741.75 Td (respectively) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.70 741.75 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.05 741.75 Td (Of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.85 741.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.41 741.75 Td ($227.8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.01 741.75 Td (million ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.07 741.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.96 741.75 Td (performance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 729.15 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 69.87 729.15 Td (earned ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.32 729.15 Td (during ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.20 729.15 Td (fiscal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.41 729.15 Td (year ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.94 729.15 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.03 729.15 Td ($108.8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.38 729.15 Td (million ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.18 729.15 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.98 729.15 Td (passed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.44 729.15 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.57 729.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.20 729.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.50 729.15 Td (Clarion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.46 729.15 Td (Partners ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.34 729.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.45 729.15 Td (team. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.18 729.15 Td (An ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 716.55 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.42 716.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.70 716.55 Td (decrease ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.37 716.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.07 716.55 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.65 716.55 Td (fees, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.71 716.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.99 716.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.69 716.55 Td (performance-based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.67 716.55 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.02 716.55 Td (arrangements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.11 716.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.31 716.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.84 716.55 Td (clients, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.40 716.55 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.26 716.55 Td (create ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.85 716.55 Td (greater ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 703.95 Td (fluctuations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.70 703.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.49 703.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.11 703.95 Td (revenues.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 678.75 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.06 678.75 Td (e Rely Significantly on Third Parties to Distribute Mutual Funds and Certain Other Products) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 653.55 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.11 653.55 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.22 653.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.67 653.55 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.11 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.55 653.55 Td (distribute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.50 653.55 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.94 653.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.56 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.00 653.55 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.85 653.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.70 653.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.06 653.55 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.51 653.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.54 653.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.06 653.55 Td (manage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.99 653.55 Td (is ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (significantly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.78 640.95 Td (dependent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.71 640.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.00 640.95 Td (access ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.60 640.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.55 640.95 Td (third-party ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.24 640.95 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.75 640.95 Td (intermediaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.60 640.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.13 640.95 Td (distribute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.58 640.95 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.94 640.95 Td (products. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.31 640.95 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.17 640.95 Td (distributors ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.05 628.35 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.85 628.35 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.01 628.35 Td (contractually ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.55 628.35 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.27 628.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.18 628.35 Td (distribute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.58 628.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.31 628.35 Td (products, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.83 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.73 628.35 Td (typically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.21 628.35 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.76 628.35 Td (fer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.15 628.35 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.13 628.35 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.28 628.35 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.92 628.35 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.75 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.86 615.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.23 615.75 Td (services, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.87 615.75 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.74 615.75 Td (proprietary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.59 615.75 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.95 615.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.31 615.75 Td (services, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.96 615.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.33 615.75 Td (addition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.94 615.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.31 615.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.67 615.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.04 615.75 Td (competition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.41 615.75 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.28 615.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.47 615.75 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.84 615.75 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.15 Td (services. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.89 603.15 Td (Relying ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.09 603.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.54 603.15 Td (third-party ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.39 603.15 Td (distributors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.18 603.15 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.04 603.15 Td (exposes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.24 603.15 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.52 603.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.64 603.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.42 603.15 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.12 603.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.82 603.15 Td (increasing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.92 603.15 Td (costs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.87 603.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.56 603.15 Td (distribution, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.56 603.15 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.25 603.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.45 603.15 Td (compensate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 590.55 Td (them ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.14 590.55 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.03 590.55 Td (selling ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.67 590.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.32 590.55 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.12 590.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.93 590.55 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.39 590.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.21 590.55 Td (amounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.43 590.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.83 590.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.29 590.55 Td (agreed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.91 590.55 Td (between ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.54 590.55 Td (them ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.18 590.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.99 590.55 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.97 590.55 Td (but ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.03 590.55 Td (which, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.96 590.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.78 590.55 Td (many ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.75 590.55 Td (cases, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.18 590.55 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 577.95 Td (lar) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.39 577.95 Td (gely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.61 577.95 Td (determined ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.99 577.95 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.63 577.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.61 577.95 Td (distributor) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.78 577.95 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.32 577.95 Td (There ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.95 577.95 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.10 577.95 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.06 577.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.87 577.95 Td (recent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.66 577.95 Td (trend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.38 577.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.28 577.95 Td (increasing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.57 577.95 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.62 577.95 Td (paid ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.85 577.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.16 577.95 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.87 577.95 Td (distributors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.85 577.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.17 577.95 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.64 565.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.02 565.35 Td (business, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.96 565.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.85 565.35 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.15 565.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.62 565.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.35 565.35 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.50 565.35 Td (costs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.23 565.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.78 565.35 Td (increased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.16 565.35 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.63 565.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.03 565.35 Td (result. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.58 565.35 Td (While ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.97 565.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.53 565.35 Td (third-party ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.16 565.35 Td (distributors ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.26 552.75 Td (compensated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.02 552.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.21 552.75 Td (distributing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.58 552.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.52 552.75 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.63 552.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.73 552.75 Td (services, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.12 552.75 Td (there ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.05 552.75 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.57 552.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.42 552.75 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.87 552.75 Td (assurances ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.71 552.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.40 552.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.59 552.75 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.87 552.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.73 552.75 Td (successful ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.83 552.75 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (distributing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.34 540.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.76 540.15 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.34 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.92 540.15 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.16 540.15 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.24 540.15 Td (them. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.29 540.15 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.45 540.15 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.91 540.15 Td (mer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.05 540.15 Td (gers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.96 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.54 540.15 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.54 540.15 Td (corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.60 540.15 Td (transactions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.17 540.15 Td (among ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.17 540.15 Td (distributors ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.17 527.55 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.13 527.55 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.46 527.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.04 527.55 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.05 527.55 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.64 527.55 Td (relationships. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.51 527.55 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.09 527.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.92 527.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.33 527.55 Td (unable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.90 527.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.66 527.55 Td (distribute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.91 527.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.49 527.55 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.24 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.99 527.55 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.39 527.55 Td (successfully) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.04 527.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.25 527.55 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 540.67 527.55 Td (will ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.12 514.95 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.09 514.95 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.21 514.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.60 514.95 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.30 514.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.85 514.95 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.06 514.95 Td (income, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.98 514.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.53 514.95 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.08 514.95 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.86 514.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.41 514.95 Td (distribution-related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.28 514.95 Td (expenses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.57 514.95 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.29 514.95 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.91 514.95 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.88 514.95 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.00 514.95 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.95 502.35 Td (income.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 477.15 Td (Our Funds-of-Hedge Funds Business Entails a Number of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.42 477.15 Td (Additional Risks) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 451.95 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.21 451.95 Td (rustPermal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.39 451.95 Td (operates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.06 451.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.42 451.95 Td (portion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.44 451.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.87 451.95 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.48 451.95 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.76 451.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.62 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.14 451.95 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.89 451.95 Td (funds-of-hedge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.73 451.95 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.75 451.95 Td (business, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.65 451.95 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 550.00 451.95 Td (is ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.16 439.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.24 439.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.82 439.35 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.81 439.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.47 439.35 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.54 439.35 Td (authorities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.78 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.85 439.35 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.58 439.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.67 439.35 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.14 439.35 Td (ferent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.54 439.35 Td (jurisdictions. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.86 439.35 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.10 439.35 Td (funds-of-hedge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.16 439.35 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.41 439.35 Td (business ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (typically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.85 426.75 Td (involves ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.05 426.75 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.07 426.75 Td (being ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.01 426.75 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.89 426.75 Td (ged ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.66 426.75 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.18 426.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.29 426.75 Td (two ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.65 426.75 Td (levels ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.76 426.75 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.87 426.75 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.06 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.50 426.75 Td (funds-of-funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.52 426.75 Td (level ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.54 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.31 426.75 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.50 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.94 426.75 Td (underlying ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.04 426.75 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.99 426.75 Td (level. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.48 414.15 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.30 414.15 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.29 414.15 Td (include ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.10 414.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.66 414.15 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.47 414.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.54 414.15 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.51 414.15 Td (fees. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.74 414.15 Td (There ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.13 414.15 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.61 414.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.43 414.15 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.84 414.15 Td (assurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.56 414.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.22 414.15 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.93 414.15 Td (rustPermal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.33 414.15 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.58 414.15 Td (not ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 401.55 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 62.90 401.55 Td (forced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.20 401.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.86 401.55 Td (change ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.08 401.55 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.49 401.55 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.80 401.55 Td (structures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.11 401.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.10 401.55 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.15 401.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.39 401.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.45 401.55 Td (pressures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.02 401.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.25 401.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.49 401.55 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.19 401.55 Td (rustPermal's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.15 401.55 Td (fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.46 401.55 Td (structures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.77 401.55 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.60 401.55 Td (not ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 388.95 Td (hamper ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.22 388.95 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.37 388.95 Td (growth. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.74 388.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.29 388.95 Td (funds-of-hedge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.66 388.95 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.23 388.95 Td (industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.88 388.95 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.10 388.95 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.15 388.95 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.29 388.95 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.85 388.95 Td (pressure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.06 388.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.46 388.95 Td (recent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.34 388.95 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.72 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.11 388.95 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.34 388.95 Td (seen ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.39 376.35 Td (outflows. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.21 376.35 Td (There ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.26 376.35 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.40 376.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.87 376.35 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.93 376.35 Td (assurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.31 376.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.62 376.35 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.36 376.35 Td (pressure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.91 376.35 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.81 376.35 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.79 376.35 Td (continue. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.13 376.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.44 376.35 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.05 376.35 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.75 376.35 Td (rustPermal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.81 376.35 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.45 376.35 Td (generate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.75 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.01 363.75 Td (performance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.24 363.75 Td (fees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.33 363.75 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.92 363.75 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.77 363.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.12 363.75 Td (time, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.59 363.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.43 363.75 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.94 363.75 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.52 363.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.53 363.75 Td (volatility ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.63 363.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.55 363.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.73 363.75 Td (revenues. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.86 363.75 Td (See ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.20 363.75 Td (�Performance-) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (Based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.79 351.15 Td (Fee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.99 351.15 Td (Arrangements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.10 351.15 Td (May ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.97 351.15 Td (Increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.57 351.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.83 351.15 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.06 351.15 Td (olatility ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.35 351.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.72 351.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.34 351.15 Td (Revenues.� ) Tj ET Q
BT /F2 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 325.95 Td (Risks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.64 325.95 Td (Related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.67 325.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.04 325.95 Td (our) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.60 325.95 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.23 325.95 Td (Company) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 300.75 Td (Our Leverage May ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.38 300.75 Td (Af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.70 300.75 Td (fect our Business and May Restrict our Operating Results) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 275.55 Td (At ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.10 275.55 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.60 275.55 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.82 275.55 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.54 275.55 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.13 275.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.89 275.55 Td (consolidated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.05 275.55 Td (basis, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.77 275.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.11 275.55 Td (had ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.37 275.55 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.11 275.55 Td ($2.3 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.58 275.55 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.10 275.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.36 275.55 Td (total ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.12 275.55 Td (indebtedness, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.08 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.33 275.55 Td (total ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (stockholders' ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.50 262.95 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.79 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.57 262.95 Td ($3.9 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.98 262.95 Td (billion, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.06 262.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.26 262.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.29 262.95 Td (goodwill ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.67 262.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.86 262.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.47 262.95 Td (intangible ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.50 262.95 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.04 262.95 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.47 262.95 Td ($1.9 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.89 262.95 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.34 262.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.54 262.95 Td ($3.8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.95 262.95 Td (billion, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 250.35 Td (respectively) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.55 250.35 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.10 250.35 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.17 250.35 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.91 250.35 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.91 250.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.81 250.35 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.81 250.35 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.88 250.35 Td ($374.5 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.83 250.35 Td (million ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.25 250.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.08 250.35 Td (borrowing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.91 250.35 Td (capacity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.97 250.35 Td (available ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.94 250.35 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.93 250.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.01 250.35 Td (revolving ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.33 250.35 Td (credit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.32 250.35 Td (facility) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 553.37 250.35 Td (. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.75 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 63.86 237.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.22 237.75 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.24 237.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.69 237.75 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.55 237.75 Td (substantial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.16 237.75 Td (indebtedness, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.72 237.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.66 237.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.17 237.75 Td (currently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.77 237.75 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.45 237.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.31 237.75 Td (use ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.00 237.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.36 237.75 Td (portion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.38 237.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.83 237.75 Td (our ) Tj ET Q
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q 0 0 0 rg BT 403.63 678.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 416.96 678.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 435.54 678.75 Td (hybrid ) Tj ET Q
q 0 0 0 rg BT 467.53 678.75 Td (capital ) Tj ET Q
q 0 0 0 rg BT 500.10 678.75 Td (securities) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 539.75 678.75 Td (\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.83 678.75 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 666.15 Td (Consolidated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.41 666.15 Td (EBITDA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.33 666.15 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.33 666.15 Td (\(as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.57 666.15 Td (defined ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.06 666.15 Td (therein\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.71 666.15 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.13 666.15 Td (exceed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.27 666.15 Td (\(a\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.93 666.15 Td (3.5 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.05 666.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.22 666.15 Td (1 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.47 666.15 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.05 666.15 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.21 666.15 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.88 666.15 Td (during ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.29 666.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.12 666.15 Td (period ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.95 666.15 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.36 666.15 Td (January ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 653.55 Td (1, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.71 653.55 Td (2017, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.17 653.55 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.68 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.67 653.55 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.17 653.55 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.42 653.55 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.38 653.55 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.84 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.84 653.55 Td (\(b\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.92 653.55 Td (3 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.01 653.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.01 653.55 Td (1 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.10 653.55 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.52 653.55 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.51 653.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.93 653.55 Td (time., ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.68 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.67 653.55 Td (\(ii\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.34 653.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.17 653.55 Td (ratio ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.25 653.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 640.95 Td (Consolidated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.07 640.95 Td (EBITDA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.99 640.95 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.64 640.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.47 640.95 Td (total ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.79 640.95 Td (cash ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.10 640.95 Td (interest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.67 640.95 Td (payments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.57 640.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.72 640.95 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.94 640.95 Td (Indebtedness ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.42 640.95 Td (\(as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.32 640.95 Td (defined ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.46 640.95 Td (therein\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.77 640.95 Td (exceeds ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 628.35 Td (4.0 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.75 628.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.54 628.35 Td (1\);) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 90.00 615.75 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 615.75 Td (limit cash flow available for general corporate purposes due to the ongoing cash flow requirements for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 603.15 Td (debt service;) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 90.00 590.55 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 590.55 Td (limit our flexibility) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.81 590.55 Td (, including our ability to react to competitive and other changes in the industry and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 577.95 Td (economic conditions; and) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 90.00 565.35 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 565.35 Td (place us at a competitive disadvantage compared to our competitors that have less debt.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 540.15 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.25 540.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.09 540.15 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.58 540.15 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.79 540.15 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.50 540.15 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.49 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.40 540.15 Td (terms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.82 540.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.65 540.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.73 540.15 Td (bank ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.23 540.15 Td (credit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.22 540.15 Td (agreement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.03 540.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.11 540.15 Td (ratio ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.44 540.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.27 540.15 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.18 540.15 Td (debt ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.34 540.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.60 540.15 Td (Consolidated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.10 540.15 Td (EBITDA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 557.01 540.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.69 527.55 Td (2.5 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.67 527.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.69 527.55 Td (1 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.80 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.81 527.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.67 527.55 Td (ratio ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.76 527.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.37 527.55 Td (Consolidated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.64 527.55 Td (EBITDA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.55 527.55 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.41 527.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.43 527.55 Td (interest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.19 527.55 Td (expense ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.87 527.55 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.05 527.55 Td (6.2 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.03 527.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.06 527.55 Td (1, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.79 527.55 Td (and, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.43 527.55 Td (therefore, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.80 527.55 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.23 527.55 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.67 527.55 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.86 527.55 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.80 514.95 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.37 514.95 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.19 514.95 Td (bank ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.51 514.95 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.14 514.95 Td (covenants. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.66 514.95 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.55 514.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.45 514.95 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.18 514.95 Td (income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.99 514.95 Td (significantly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.39 514.95 Td (declines ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.70 514.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.84 514.95 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.91 514.95 Td (reason, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.84 514.95 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.58 514.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.56 514.95 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.37 514.95 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.85 514.95 Td (ficult ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.14 502.35 Td (remain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.76 502.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.39 502.35 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.26 502.35 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.39 502.35 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.44 502.35 Td (covenants. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.52 502.35 Td (Similarly) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.92 502.35 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.01 502.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.65 502.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.95 502.35 Td (extent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.07 502.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.29 502.35 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.00 502.35 Td (spend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.97 502.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.43 502.35 Td (available ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.79 502.35 Td (cash ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.92 502.35 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.63 502.35 Td (purposes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.43 502.35 Td (other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 489.75 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 69.09 489.75 Td (repaying ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.34 489.75 Td (debt ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.93 489.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.19 489.75 Td (acquiring ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.36 489.75 Td (businesses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.21 489.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.47 489.75 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.37 489.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.88 489.75 Td (EBITDA, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.52 489.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.27 489.75 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.12 489.75 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.03 489.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.54 489.75 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.88 489.75 Td (debt ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.47 489.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.15 489.75 Td (Consolidated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.08 489.75 Td (EBITDA) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 557.00 489.75 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.15 Td (ratio. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.31 477.15 Td (Although ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.46 477.15 Td (there ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.93 477.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.24 477.15 Td (actions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.47 477.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.70 477.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.43 477.15 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.99 477.15 Td (take ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.97 477.15 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.87 477.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.35 477.15 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.57 477.15 Td (covenant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.96 477.15 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.84 477.15 Td (becomes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.06 477.15 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.46 477.15 Td (issue, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.57 477.15 Td (there ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.04 477.15 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.10 477.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 546.50 477.15 Td (no ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 464.55 Td (assurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.94 464.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.31 464.55 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.51 464.55 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.72 464.55 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.68 464.55 Td (remain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.45 464.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.25 464.55 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.27 464.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.56 464.55 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.11 464.55 Td (bank ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.14 464.55 Td (debt ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.84 464.55 Td (covenants.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 439.35 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.39 439.35 Td (access ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.76 439.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.49 439.35 Td (credit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.95 439.35 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.01 439.35 Td (reasonable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.47 439.35 Td (terms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.35 439.35 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.92 439.35 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.39 439.35 Td (partially ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.94 439.35 Td (dependent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.65 439.35 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.71 439.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.26 439.35 Td (credit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.73 439.35 Td (ratings. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.49 439.35 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.04 439.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.60 439.35 Td (credit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.06 439.35 Td (ratings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.20 439.35 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (downgraded, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.12 426.75 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.05 426.75 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.48 426.75 Td (likely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.49 426.75 Td (become ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.24 426.75 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.91 426.75 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.38 426.75 Td (ficult ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.64 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.89 426.75 Td (costly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.07 426.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.41 426.75 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.84 426.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.11 426.75 Td (access ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.02 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.94 426.75 Td (credit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.94 426.75 Td (markets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.27 426.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.12 426.75 Td (otherwise ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.03 426.75 Td (incur ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.71 426.75 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.29 426.75 Td (debt.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 401.55 Td (Upon ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.82 401.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.64 401.55 Td (occurrence ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.68 401.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.41 401.55 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.31 401.55 Td (events, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.75 401.55 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.99 401.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.72 401.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.37 401.55 Td (change ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.09 401.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.83 401.55 Td (control, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.19 401.55 Td (some ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.34 401.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.08 401.55 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.56 401.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.30 401.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.28 401.55 Td (outstanding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.27 401.55 Td (debt ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.34 401.55 Td (obligations ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 388.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.62 388.95 Td (come ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.40 388.95 Td (due ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.59 388.95 Td (prior ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.04 388.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.25 388.95 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.53 388.95 Td (maturity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.15 388.95 Td (dates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.76 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.96 388.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.08 388.95 Td (require ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.85 388.95 Td (payments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.13 388.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.34 388.95 Td (excess ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.78 388.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.57 388.95 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.85 388.95 Td (outstanding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.89 388.95 Td (amounts, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.13 388.95 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.83 388.95 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.69 376.35 Td (circumstances ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.79 376.35 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.49 376.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.03 376.35 Td (significant.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 351.15 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.06 351.15 Td (e May Engage in Strategic T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.63 351.15 Td (ransactions That Could Create Risks) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 325.95 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.52 325.95 Td (part ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.19 325.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.29 325.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.64 325.95 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.57 325.95 Td (strategy) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.13 325.95 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.10 325.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.70 325.95 Td (regularly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.95 325.95 Td (review) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.83 325.95 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.81 325.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.98 325.95 Td (currently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.22 325.95 Td (reviewing, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.19 325.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.70 325.95 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.46 325.95 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.47 325.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.99 325.95 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.00 325.95 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.17 325.95 Td (discussions ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.35 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.01 313.35 Td (respect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.59 313.35 Td (to, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.22 313.35 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.81 313.35 Td (strategic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.22 313.35 Td (transactions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.84 313.35 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.35 313.35 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.93 313.35 Td (acquisitions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.56 313.35 Td (dispositions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.21 313.35 Td (consolidations, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.34 313.35 Td (joint ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.44 313.35 Td (ventures ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.23 300.75 Td (similar ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.37 300.75 Td (transactions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.50 300.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.64 300.75 Td (�lift-outs� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.19 300.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.92 300.75 Td (portfolio ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.64 300.75 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.26 300.75 Td (teams, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.36 300.75 Td (some ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.50 300.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.23 300.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.87 300.75 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.93 300.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.82 300.75 Td (material. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.60 300.75 Td (There ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.07 300.75 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.62 300.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 545.51 300.75 Td (no ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.15 Td (assurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.75 288.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.94 288.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.62 288.15 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.39 288.15 Td (find ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.75 288.15 Td (suitable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.85 288.15 Td (candidates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.60 288.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.28 288.15 Td (strategic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.29 288.15 Td (transactions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.88 288.15 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.90 288.15 Td (acceptable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.64 288.15 Td (prices, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.78 288.15 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.04 288.15 Td (suf) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.68 288.15 Td (ficient ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.94 288.15 Td (capital ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.36 288.15 Td (resources ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 62.05 275.55 Td (accomplish ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.25 275.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.63 275.55 Td (strategy) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.19 275.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.19 275.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.32 275.55 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.61 275.55 Td (successful ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.15 275.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.70 275.55 Td (entering ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.48 275.55 Td (into ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.20 275.55 Td (agreements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.39 275.55 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.02 275.55 Td (desired ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.72 275.55 Td (transactions. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.88 275.55 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.01 275.55 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.43 275.55 Td (these ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (transactions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.28 262.95 Td (typically ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.65 262.95 Td (involve ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.77 262.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.05 262.95 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.75 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.12 262.95 Td (risks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.58 262.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.37 262.95 Td (present ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.32 262.95 Td (financial, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.30 262.95 Td (managerial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.56 262.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.35 262.95 Td (operational ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.21 262.95 Td (challenges, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.77 262.95 Td (including:) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 237.75 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 237.75 Td (adverse ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.16 237.75 Td (fects on our reported earnings per share in the event acquired intangible assets or goodwill ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 225.15 Td (become impaired;) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 212.55 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 212.55 Td (existence of unknown liabilities or contingencies that arise after closing; and) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 199.95 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 199.95 Td (potential disputes with counterparties.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 174.75 Td (Acquisitions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.58 174.75 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.52 174.75 Td (transactions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.04 174.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.57 174.75 Td (completed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.68 174.75 Td (acquisitions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.21 174.75 Td (pose ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.83 174.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.03 174.75 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.15 174.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.27 174.75 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.80 174.75 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.76 174.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.38 174.75 Td (acquire ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.64 174.75 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 540.09 174.75 Td (lose ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 162.15 Td (customers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.62 162.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.92 162.15 Td (employees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.37 162.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.67 162.15 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.54 162.15 Td (underperform ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.82 162.15 Td (relative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.84 162.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.56 162.15 Td (expectations. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.10 162.15 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.17 162.15 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.38 162.15 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.26 162.15 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.72 162.15 Td (experience ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.74 162.15 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.02 162.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.31 162.15 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.43 162.15 Td (setbacks ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 149.55 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.15 149.55 Td (transactions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.55 149.55 Td (encounter ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.18 149.55 Td (unanticipated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.99 149.55 Td (problems, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.93 149.55 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.83 149.55 Td (problems ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.15 149.55 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.96 149.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.36 149.55 Td (execution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.42 149.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.41 149.55 Td (integration. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.76 149.55 Td (Following ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.18 149.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 136.95 Td (completion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.15 136.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.31 136.95 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.63 136.95 Td (acquisition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.74 136.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.39 136.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.88 136.95 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.11 136.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.69 136.95 Td (rely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.42 136.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.33 136.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.57 136.95 Td (seller ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.72 136.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.30 136.95 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.78 136.95 Td (administrative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.26 136.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.83 136.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.82 136.95 Td (support, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.35 136.95 Td (including ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 124.35 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.90 124.35 Td (reporting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.06 124.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.90 124.35 Td (internal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.64 124.35 Td (controls, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.77 124.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.61 124.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.11 124.35 Td (acquired ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.92 124.35 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.18 124.35 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.10 124.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.43 124.35 Td (period ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.93 124.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.35 124.35 Td (time. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.12 124.35 Td (There ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.27 124.35 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.51 124.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.10 124.35 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.27 124.35 Td (assurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.75 124.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.17 124.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 111.75 Td (seller ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.86 111.75 Td (will ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.10 111.75 Td (acceptable ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.37 691.35 Td (stockholders.) Tj ET Q
BT /F3 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.72 640.95 Td (other ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.77 628.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.73 628.35 Td (business. ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.18 628.35 Td (reputation ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.99 628.35 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.52 628.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.38 628.35 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.86 628.35 Td (ficult ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.57 615.75 Td (control, ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.83 615.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.46 615.75 Td (impossible ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.85 615.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.90 615.75 Td (remediate. ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.34 615.75 Td (inquiries, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.59 615.75 Td (employee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.29 615.75 Td (misconduct ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.63 615.75 Td (rumors, ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.70 603.15 Td (things, ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.61 603.15 Td (substantially ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.22 603.15 Td (damage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.39 603.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.91 603.15 Td (reputation, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.63 603.15 Td (even ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.51 603.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.85 603.15 Td (baseless ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.78 603.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.05 603.15 Td (satisfactorily ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.36 603.15 Td (Regulatory ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 590.55 Td (sanctions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.39 590.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.94 590.55 Td (adverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.81 590.55 Td (litigation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.53 590.55 Td (results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.76 590.55 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.14 590.55 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.86 590.55 Td (cause ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.98 590.55 Td (substantial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.70 590.55 Td (damage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.16 590.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.13 590.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.94 590.55 Td (reputation. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.32 590.55 Td (Any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.21 590.55 Td (damage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.67 590.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.64 590.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.45 590.55 Td (reputation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 577.95 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.14 577.95 Td (impede ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.35 577.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.66 577.95 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.80 577.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.28 577.95 Td (attract ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.82 577.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.29 577.95 Td (retain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.50 577.95 Td (clients ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.22 577.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.69 577.95 Td (key ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.16 577.95 Td (personnel, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.92 577.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.39 577.95 Td (lead ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.19 577.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.66 577.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.63 577.95 Td (reduction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.59 577.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.07 577.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.21 577.95 Td (amount ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.01 577.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.07 577.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.87 577.95 Td (AUM, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.29 565.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.66 565.35 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.94 565.35 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.90 565.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.34 565.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.63 565.35 Td (material ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.65 565.35 Td (adverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.34 565.35 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.31 565.35 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.67 565.35 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.79 565.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.42 565.35 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.36 565.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.14 565.35 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.60 565.35 Td (income.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.00 540.15 Td (Failure to Properly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.65 540.15 Td (Address Conflicts of Interest Could Harm our Reputation, Business and Results of ) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (Operations) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 502.35 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.80 502.35 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.67 502.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.12 502.35 Td (expanded ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.98 502.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.44 502.35 Td (scope ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.97 502.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.35 502.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.97 502.35 Td (businesses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.94 502.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.72 502.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.35 502.35 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.30 502.35 Td (base, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.21 502.35 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.08 502.35 Td (must ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.13 502.35 Td (continue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.92 502.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.72 502.35 Td (address ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.83 502.35 Td (conflicts ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 489.75 Td (between ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.41 489.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.33 489.75 Td (interests ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.24 489.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.33 489.75 Td (those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.42 489.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.09 489.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.01 489.75 Td (clients. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.97 489.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.64 489.75 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.60 489.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.35 489.75 Td (SEC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.53 489.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.62 489.75 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.11 489.75 Td (regulators ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.02 489.75 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.77 489.75 Td (increased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.34 489.75 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.50 489.75 Td (scrutiny ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.25 489.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.15 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.58 477.15 Td (conflicts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.08 477.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.17 477.15 Td (interest. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.95 477.15 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.02 477.15 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.02 477.15 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.18 477.15 Td (procedures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.59 477.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.09 477.15 Td (controls ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.26 477.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.35 477.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.51 477.15 Td (reasonably ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.33 477.15 Td (designed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.00 477.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.51 477.15 Td (address ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.34 477.15 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.26 477.15 Td (issues. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.31 477.15 Td (However) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 554.37 477.15 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 464.55 Td (appropriately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.51 464.55 Td (dealing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.44 464.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.14 464.55 Td (conflicts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.33 464.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.11 464.55 Td (interest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.04 464.55 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.08 464.55 Td (complex ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.26 464.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.46 464.55 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.93 464.55 Td (ficult ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.12 464.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.31 464.55 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.75 464.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.03 464.55 Td (fail, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.68 464.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.45 464.55 Td (appear ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.46 464.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.66 464.55 Td (fail, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.31 464.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.50 464.55 Td (deal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.02 464.55 Td (appropriately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 451.95 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.12 451.95 Td (conflicts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.22 451.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.92 451.95 Td (interest, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.40 451.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.59 451.95 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.86 451.95 Td (face ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.29 451.95 Td (reputational ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.39 451.95 Td (damage, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.61 451.95 Td (litigation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.47 451.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.17 451.95 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.27 451.95 Td (proceedings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.95 451.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.64 451.95 Td (penalties, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.54 451.95 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.65 451.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.34 451.95 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.20 439.35 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.06 439.35 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.03 439.35 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.39 439.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.01 439.35 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.95 439.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.32 439.35 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.77 439.35 Td (income.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.50 414.15 Td (Loss of Key Personnel Could Harm our Business) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 388.95 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 388.95 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.02 388.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.63 388.95 Td (dependent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.57 388.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.86 388.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.48 388.95 Td (continued ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.68 388.95 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.28 388.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.82 388.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.61 388.95 Td (key ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.56 388.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.76 388.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.20 388.95 Td (personnel ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.81 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.76 388.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.55 388.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.98 388.95 Td (team, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.73 376.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.29 376.35 Td (Chief ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.19 376.35 Td (Executive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.73 376.35 Td (Of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.62 376.35 Td (ficer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.28 376.35 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.36 376.35 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.25 376.35 Td (loss ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.15 376.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.47 376.35 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.19 376.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.51 376.35 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.32 376.35 Td (personnel ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.71 376.35 Td (without ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.36 376.35 Td (adequate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.24 376.35 Td (replacement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.10 376.35 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.00 376.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.39 376.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.61 376.35 Td (material ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.75 Td (adverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.46 363.75 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.43 363.75 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.06 363.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.45 363.75 Td (us. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.31 363.75 Td (Moreover) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.29 363.75 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.81 363.75 Td (since ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.28 363.75 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.74 363.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.38 363.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.28 363.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.58 363.75 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.71 363.75 Td (operate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.50 363.75 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.07 363.75 Td (lean ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.45 363.75 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.99 363.75 Td (teams ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.38 363.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.44 363.75 Td (contribute ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (significantly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.75 351.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.68 351.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.44 351.15 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.52 351.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.44 351.15 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.03 351.15 Td (income, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.33 351.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.92 351.15 Td (loss ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.02 351.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.53 351.15 Td (even ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.11 351.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.53 351.15 Td (small ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.05 351.15 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.88 351.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.39 351.15 Td (key ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.31 351.15 Td (personnel ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.90 351.15 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.24 351.15 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.58 351.15 Td (businesses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.67 351.15 Td (could ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.55 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.10 338.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.54 338.55 Td (disproportionate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.14 338.55 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.49 338.55 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.77 338.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.55 338.55 Td (overall ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.48 338.55 Td (business. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.86 338.55 Td (Additionally) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.26 338.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.66 338.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.68 338.55 Td (need ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.28 338.55 Td (qualified ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.38 338.55 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.39 338.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.33 338.55 Td (skilled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.11 338.55 Td (employees ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 325.95 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.74 325.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.72 325.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.94 325.95 Td (experience ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.97 325.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.71 325.95 Td (order ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.44 325.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.17 325.95 Td (operate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.64 325.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.21 325.95 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.36 325.95 Td (successfully) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.00 325.95 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.87 325.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.77 325.95 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.49 325.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.30 325.95 Td (experienced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.59 325.95 Td (asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.62 313.35 Td (professionals ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.49 313.35 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.97 313.35 Td (extremely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.42 313.35 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.46 313.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.09 313.35 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.56 313.35 Td (increasingly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.35 313.35 Td (characterized ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.77 313.35 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.74 313.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.04 313.35 Td (movement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.84 313.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.05 313.35 Td (employees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.43 313.35 Td (among ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.97 300.75 Td (ferent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.97 300.75 Td (firms. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.27 300.75 Td (Due ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.27 300.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.95 300.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.28 300.75 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.36 300.75 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.03 300.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.78 300.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.70 300.75 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.85 300.75 Td (professionals ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.77 300.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.44 300.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.78 300.75 Td (success ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.78 300.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.04 300.75 Td (some ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.71 300.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.97 300.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.48 300.75 Td (employees, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.92 288.15 Td (costs ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.35 288.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.94 288.15 Td (attract ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.59 288.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.18 288.15 Td (retain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.50 288.15 Td (key ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.09 288.15 Td (employees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.41 288.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.66 288.15 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.40 288.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.99 288.15 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.75 288.15 Td (likely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.08 288.15 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.90 288.15 Td (over ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.98 288.15 Td (time. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.69 288.15 Td (From ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.87 288.15 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.96 288.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.55 288.15 Td (time, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.26 288.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.93 288.15 Td (may ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (work ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.01 275.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.60 275.55 Td (key ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.69 275.55 Td (employees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.53 275.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.62 275.55 Td (revise ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.62 275.55 Td (revenue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.78 275.55 Td (sharing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.62 275.55 Td (arrangements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.11 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.20 275.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.70 275.55 Td (employment-related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.18 275.55 Td (terms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.44 275.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.53 275.55 Td (reflect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.27 275.55 Td (current ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (circumstances, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.35 262.95 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.77 262.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.69 262.95 Td (situations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.70 262.95 Td (where ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.10 262.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.51 262.95 Td (revenue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.49 262.95 Td (sharing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.16 262.95 Td (arrangement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.38 262.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.21 262.95 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.29 262.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.22 262.95 Td (insuf) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.03 262.95 Td (ficient ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.60 262.95 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.67 262.95 Td (being ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 250.35 Td (retained ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.61 250.35 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.41 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.54 250.35 Td (subsidiary) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.02 250.35 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.94 250.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.99 250.35 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.32 250.35 Td (since ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.19 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.32 250.35 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.70 250.35 Td (track ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.98 250.35 Td (record ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.09 250.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.14 250.35 Td (many ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.76 250.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.81 250.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.10 250.35 Td (products ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.56 250.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.02 250.35 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.14 250.35 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.44 250.35 Td (often ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.75 Td (attributed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.78 237.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.00 237.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.71 237.75 Td (small ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.50 237.75 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.62 237.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.42 237.75 Td (individual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.05 237.75 Td (employees, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.62 237.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.83 237.75 Td (sometimes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.79 237.75 Td (one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.00 237.75 Td (person, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.66 237.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.54 237.75 Td (departure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.23 237.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.02 237.75 Td (one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.23 237.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.02 237.75 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.64 237.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.44 237.75 Td (these ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.15 Td (employees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.90 225.15 Td (could) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 120.23 225.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.73 225.15 Td (cause ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.55 225.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.88 225.15 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.96 225.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.63 225.15 Td (lose ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.04 225.15 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.87 225.15 Td (accounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.10 225.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.35 225.15 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.75 225.15 Td (assets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.37 225.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.53 225.15 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.36 225.15 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.68 225.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.84 225.15 Td (material ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.74 225.15 Td (adverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.30 225.15 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.27 225.15 Td (fect ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 212.55 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 62.38 212.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.77 212.55 Td (results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.56 212.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.70 212.55 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.82 212.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.36 212.55 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.48 212.55 Td (condition. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.15 212.55 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.53 212.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.16 212.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.36 212.55 Td (unable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.73 212.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.28 212.55 Td (attract ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.90 212.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.44 212.55 Td (retain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.73 212.55 Td (qualified ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.44 212.55 Td (individuals ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.49 212.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.62 212.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.00 212.55 Td (costs ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 199.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.29 199.95 Td (do ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.42 199.95 Td (so ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.38 199.95 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.40 199.95 Td (significantly) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.21 199.95 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.46 199.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.08 199.95 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.44 199.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.23 199.95 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.58 199.95 Td (results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.62 199.95 Td (would ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.50 199.95 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.04 199.95 Td (materially ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.23 199.95 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.08 199.95 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.05 199.95 Td (fected.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.50 174.75 Td (Our Business is Subject to Numerous Operational Risks) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 149.55 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 149.55 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.04 149.55 Td (face ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.34 149.55 Td (numerous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.56 149.55 Td (operational ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.60 149.55 Td (risks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.26 149.55 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.63 149.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.61 149.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.42 149.55 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.82 149.55 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.14 149.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.61 149.55 Td (day-to-day ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.91 149.55 Td (basis. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.73 149.55 Td (Among ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.04 149.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.43 149.55 Td (things, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.54 149.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.60 149.55 Td (must ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 136.95 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.18 136.95 Td (able ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.43 136.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.36 136.95 Td (consistently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.29 136.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.22 136.95 Td (reliably ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.05 136.95 Td (obtain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.06 136.95 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.48 136.95 Td (pricing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.99 136.95 Td (information, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.95 136.95 Td (process ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.21 136.95 Td (trading ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.72 136.95 Td (activity) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.53 136.95 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.92 136.95 Td (process ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.17 136.95 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.26 136.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.19 136.95 Td (investor ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 124.35 Td (transactions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.58 124.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.67 124.35 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.68 124.35 Td (reports ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.76 124.35 Td (and ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.30 111.75 Td (disciplinary ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.70 111.75 Td (governmental ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.06 111.75 Td (authorities, ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.90 99.15 Td (clients. ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.58 99.15 Td ( ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.02 86.55 Td (suspension ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.68 73.95 Td (system ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.15 73.95 Td (interruption. ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.84 61.35 Td (there ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.70 48.75 Td (shortcomings ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 539.52 48.75 Td (, ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.94 729.15 Td (damage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.89 729.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.36 729.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.67 729.15 Td (reputation. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.00 729.15 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.38 729.15 Td (systems ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.94 729.15 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.32 729.15 Td (fail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.62 729.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.09 729.15 Td (operate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.30 729.15 Td (properly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.17 729.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.23 729.15 Td (become ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.18 729.15 Td (disabled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.48 729.15 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.53 729.15 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.50 729.15 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.13 729.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.18 729.15 Td (events ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 716.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.77 716.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.11 716.55 Td (wholly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.81 716.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.08 716.55 Td (partially ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.59 716.55 Td (beyond ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.03 716.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.55 716.55 Td (control, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.44 716.55 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.63 716.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.81 716.55 Td (disruption ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.92 716.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.19 716.55 Td (electrical ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.19 716.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.46 716.55 Td (communications ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.39 716.55 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.74 716.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.01 716.55 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 703.95 Td (inability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.08 703.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.82 703.95 Td (occupy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.73 703.95 Td (one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.47 703.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.79 703.95 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.95 703.95 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.50 703.95 Td (fices. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.53 703.95 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.86 703.95 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.47 703.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.05 703.95 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.37 703.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.77 703.95 Td (dependent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.50 703.95 Td (upon ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.07 703.95 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.23 703.95 Td (from, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.84 703.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 691.35 Td (communications ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.64 691.35 Td (with, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.66 691.35 Td (third ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.22 691.35 Td (parties, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.56 691.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.46 691.35 Td (operational ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.42 691.35 Td (problems ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.22 691.35 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.53 691.35 Td (third ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.09 691.35 Td (parties ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.81 691.35 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.62 691.35 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.58 691.35 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.55 691.35 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.02 691.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.74 691.35 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.30 691.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.20 691.35 Td (carry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 546.50 691.35 Td (on ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 678.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.12 678.75 Td (business.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 653.55 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 653.55 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.12 653.55 Td (depend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.33 653.55 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.72 653.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.61 653.55 Td (headquarters, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.76 653.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.48 653.55 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.04 653.55 Td (fices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.75 653.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.39 653.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.27 653.55 Td (subsidiaries, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.37 653.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.26 653.55 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.89 653.55 Td (centers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.51 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.56 653.55 Td (third-party ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.35 653.55 Td (providers ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 63.82 640.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.72 640.95 Td (continued ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.20 640.95 Td (operation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.93 640.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.75 640.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.82 640.95 Td (business. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.96 640.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.36 640.95 Td (failure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.84 640.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.08 640.95 Td (maintain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.90 640.95 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.88 640.95 Td (infrastructure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.51 640.95 Td (commensurate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.82 640.95 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.56 640.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.46 640.95 Td (size ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.86 640.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.10 640.95 Td (scope ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.79 628.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.33 628.35 Td (business, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.08 628.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.29 628.35 Td (disaster ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.91 628.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.20 628.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.40 628.35 Td (disruption ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.53 628.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.24 628.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.61 628.35 Td (infrastructure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.71 628.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.00 628.35 Td (supports ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.13 628.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.67 628.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.62 628.35 Td (managers, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.02 628.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.31 628.35 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.77 628.35 Td (event ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.05 628.35 Td (disrupting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.18 628.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.75 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.07 615.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.57 615.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.31 615.75 Td (employees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.95 615.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.87 615.75 Td (perform ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.43 615.75 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.41 615.75 Td (job ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.58 615.75 Td (functions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.02 615.75 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.43 615.75 Td (terrorist ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.41 615.75 Td (attacks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.31 615.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.80 615.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.21 615.75 Td (disruption ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.54 615.75 Td (involving ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.53 615.75 Td (electrical ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.15 Td (communications, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.07 603.15 Td (transportation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.94 603.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.23 603.15 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.34 603.15 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.71 603.15 Td (used ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.50 603.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.54 603.15 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.42 603.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.71 603.15 Td (third ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.08 603.15 Td (parties ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.62 603.15 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.83 603.15 Td (whom ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.62 603.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.41 603.15 Td (conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.19 603.15 Td (business, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.94 603.15 Td (directly ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 590.55 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 57.47 590.55 Td (fecting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.52 590.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.42 590.55 Td (headquarters, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.58 590.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.31 590.55 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.86 590.55 Td (fices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.59 590.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.23 590.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.13 590.55 Td (subsidiaries, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.23 590.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.13 590.55 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.77 590.55 Td (centers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.40 590.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.04 590.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.77 590.55 Td (travel ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.57 590.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.22 590.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.12 590.55 Td (sales, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.05 590.55 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.28 590.55 Td (service ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 577.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.73 577.95 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.38 577.95 Td (personnel, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.90 577.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.06 577.95 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.95 577.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.69 577.95 Td (material ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.16 577.95 Td (adverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.30 577.95 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.95 577.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.52 577.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.59 577.95 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.50 577.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.74 577.95 Td (continue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.97 577.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.21 577.95 Td (operate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.18 577.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.25 577.95 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.91 577.95 Td (without ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (interruption ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.69 565.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.04 565.35 Td (impede ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.56 565.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.00 565.35 Td (growth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.36 565.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.72 565.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.33 565.35 Td (business. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.58 565.35 Td (Although ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.86 565.35 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.72 565.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.15 565.35 Td (disaster ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.84 565.35 Td (recovery ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.17 565.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.95 565.35 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.15 565.35 Td (continuity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.34 565.35 Td (programs ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.08 552.75 Td (place, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.27 552.75 Td (there ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.66 552.75 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.65 552.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.97 552.75 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.88 552.75 Td (assurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.11 552.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.26 552.75 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.25 552.75 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.00 552.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.32 552.75 Td (suf) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.96 552.75 Td (ficient ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.20 552.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.78 552.75 Td (mitigate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.60 552.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.84 552.75 Td (harm ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.82 552.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.98 552.75 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.47 552.75 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.21 552.75 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.04 552.75 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.70 552.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.77 552.75 Td (disaster ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.26 552.75 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (disruption. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.31 540.15 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.90 540.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.75 540.15 Td (fail ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.34 540.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.10 540.15 Td (keep ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.53 540.15 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.71 540.15 Td (continuity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.89 540.15 Td (plans ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.66 540.15 Td (up-to-date ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.41 540.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.75 540.15 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.77 540.15 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.61 540.15 Td (plans, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.00 540.15 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.26 540.15 Td (secure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.68 540.15 Td (back-up ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.10 540.15 Td (facilities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.85 540.15 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (systems, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.94 527.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.32 527.55 Td (improperly ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.54 527.55 Td (implemented ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.92 527.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.23 527.55 Td (deployed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.27 527.55 Td (during ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.25 527.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.47 527.55 Td (disruption, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.24 527.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.80 527.55 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.19 527.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.92 527.55 Td (operate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.38 527.55 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.27 527.55 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.74 527.55 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.53 527.55 Td (impacted ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.02 514.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.79 514.95 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.40 514.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.34 514.95 Td (comply ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.61 514.95 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.05 514.95 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.97 514.95 Td (obligations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.41 514.95 Td (leading ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.09 514.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.03 514.95 Td (reputational ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.96 514.95 Td (harm, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.93 514.95 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.85 514.95 Td (fines ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.04 514.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.97 514.95 Td (sanctions. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.45 514.95 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.97 514.95 Td (addition, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (insurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.36 502.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.14 502.35 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.34 502.35 Td (safeguards ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.87 502.35 Td (might ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.99 502.35 Td (only ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.29 502.35 Td (partially ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.90 502.35 Td (reimburse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.51 502.35 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.47 502.35 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.34 502.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.96 502.35 Td (losses.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 477.15 Td (Failure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.80 477.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.59 477.15 Td (implement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.71 477.15 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.67 477.15 Td (fective ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.27 477.15 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.82 477.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.79 477.15 Td (cyber ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.73 477.15 Td (security ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.18 477.15 Td (policies, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.08 477.15 Td (procedures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.54 477.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.50 477.15 Td (capabilities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.11 477.15 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.65 477.15 Td (disrupt ) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 464.55 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.63 464.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.60 464.55 Td (cause ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.72 464.55 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.44 464.55 Td (losses) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 439.35 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.08 439.35 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.08 439.35 Td (rely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.66 439.35 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.41 439.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.49 439.35 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.46 439.35 Td (fectiveness ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.36 439.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.36 439.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.61 439.35 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.44 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.86 439.35 Td (cyber ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.43 439.35 Td (security ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.92 439.35 Td (policies, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.46 439.35 Td (procedures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.78 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.19 439.35 Td (capabilities ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.43 426.75 Td (provide ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.27 426.75 Td (secure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.85 426.75 Td (processing, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.14 426.75 Td (storage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.23 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.15 426.75 Td (transmission ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.00 426.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.51 426.75 Td (confidential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.42 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.35 426.75 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.68 426.75 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.02 426.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.95 426.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.71 426.75 Td (computer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.13 426.75 Td (systems, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (networks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.45 414.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.06 414.15 Td (mobile ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.68 414.15 Td (devices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.62 414.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.24 414.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.19 414.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.47 414.15 Td (computer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.58 414.15 Td (systems, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.92 414.15 Td (networks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.87 414.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.48 414.15 Td (mobile ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.10 414.15 Td (devices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.04 414.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.24 414.15 Td (third ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.53 414.15 Td (parties ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.97 414.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.92 414.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.04 414.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.74 414.15 Td (rely) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 559.38 414.15 Td (. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 401.55 Td (Although ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.93 401.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.94 401.55 Td (take ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.20 401.55 Td (protective ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.94 401.55 Td (measures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.78 401.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.70 401.55 Td (endeavor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.95 401.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.88 401.55 Td (modify ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.98 401.55 Td (them ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.74 401.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.25 401.55 Td (circumstances ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.49 401.55 Td (warrant, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.95 401.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.71 401.55 Td (computer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.13 401.55 Td (systems, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 388.95 Td (software, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.43 388.95 Td (networks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.08 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.40 388.95 Td (mobile ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.72 388.95 Td (devices, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.98 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.30 388.95 Td (those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.62 388.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.52 388.95 Td (third ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.51 388.95 Td (parties ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.66 388.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.31 388.95 Td (whom ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.72 388.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.12 388.95 Td (rely) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.76 388.95 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.54 388.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.77 388.95 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.84 388.95 Td (vulnerable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.31 388.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.63 388.95 Td (cyber) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.74 388.95 Td (-attacks, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (sabotage, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.97 376.35 Td (unauthorized ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.89 376.35 Td (access, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.44 376.35 Td (computer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.20 376.35 Td (viruses, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.68 376.35 Td (worms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.37 376.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.23 376.35 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.91 376.35 Td (malicious ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.85 376.35 Td (code, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.40 376.35 Td (phishing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.68 376.35 Td (scams ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.45 376.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.72 376.35 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.40 376.35 Td (events ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.34 376.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.19 376.35 Td (have ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 56.64 363.75 Td (security ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.37 363.75 Td (impact) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 120.94 363.75 Td (. ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.05 363.75 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 128.53 363.75 Td (In ) Tj ET Q
q 0 0 0 rg BT 139.76 363.75 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 179.28 363.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 195.76 363.75 Td (interconnectivity ) Tj ET Q
q 0 0 0 rg BT 269.39 363.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 290.54 363.75 Td (third-party ) Tj ET Q
q 0 0 0 rg BT 337.92 363.75 Td (vendors, ) Tj ET Q
q 0 0 0 rg BT 376.28 363.75 Td (advisors, ) Tj ET Q
q 0 0 0 rg BT 416.38 363.75 Td (central ) Tj ET Q
q 0 0 0 rg BT 447.43 363.75 Td (agents, ) Tj ET Q
q 0 0 0 rg BT 479.36 363.75 Td (exchanges, ) Tj ET Q
q 0 0 0 rg BT 528.20 363.75 Td (clearing ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (houses ) Tj ET Q
q 0 0 0 rg BT 80.80 351.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 98.68 351.15 Td (other ) Tj ET Q
q 0 0 0 rg BT 122.98 351.15 Td (financial ) Tj ET Q
q 0 0 0 rg BT 162.42 351.15 Td (institutions ) Tj ET Q
q 0 0 0 rg BT 211.82 351.15 Td (may ) Tj ET Q
q 0 0 0 rg BT 232.62 351.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 245.25 351.15 Td (adversely ) Tj ET Q
q 0 0 0 rg BT 288.20 351.15 Td (af) Tj ET Q
q 0 0 0 rg BT 296.17 351.15 Td (fected ) Tj ET Q
q 0 0 0 rg BT 324.53 351.15 Td (if ) Tj ET Q
q 0 0 0 rg BT 333.66 351.15 Td (any ) Tj ET Q
q 0 0 0 rg BT 351.54 351.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 363.01 351.15 Td (them ) Tj ET Q
q 0 0 0 rg BT 386.72 351.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 402.26 351.15 Td (subject ) Tj ET Q
q 0 0 0 rg BT 434.72 351.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 445.61 351.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 452.99 351.15 Td (successful ) Tj ET Q
q 0 0 0 rg BT 498.86 351.15 Td (cyber) Tj ET Q
q 0 0 0 rg BT 521.97 351.15 Td (-attack ) Tj ET Q
q 0 0 0 rg BT 553.25 351.15 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (other ) Tj ET Q
q 0 0 0 rg BT 74.83 338.55 Td (information ) Tj ET Q
q 0 0 0 rg BT 128.15 338.55 Td (security ) Tj ET Q
q 0 0 0 rg BT 165.14 338.55 Td (event. ) Tj ET Q
q 0 0 0 rg BT 194.25 338.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 197.73 338.55 Td (While ) Tj ET Q
q 0 0 0 rg BT 227.14 338.55 Td (we ) Tj ET Q
q 0 0 0 rg BT 243.13 338.55 Td (collaborate ) Tj ET Q
q 0 0 0 rg BT 293.53 338.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 315.94 338.55 Td (clients, ) Tj ET Q
q 0 0 0 rg BT 349.73 338.55 Td (vendors ) Tj ET Q
q 0 0 0 rg BT 386.72 338.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 405.64 338.55 Td (other ) Tj ET Q
q 0 0 0 rg BT 430.96 338.55 Td (third ) Tj ET Q
q 0 0 0 rg BT 454.54 338.55 Td (parties ) Tj ET Q
q 0 0 0 rg BT 486.28 338.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 498.20 338.55 Td (develop ) Tj ET Q
q 0 0 0 rg BT 535.19 338.55 Td (secure ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (transmission ) Tj ET Q
q 0 0 0 rg BT 104.91 325.95 Td (capabilities ) Tj ET Q
q 0 0 0 rg BT 155.05 325.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 172.53 325.95 Td (protect ) Tj ET Q
q 0 0 0 rg BT 204.01 325.95 Td (against ) Tj ET Q
q 0 0 0 rg BT 236.08 325.95 Td (cyber) Tj ET Q
q 0 0 0 rg BT 259.19 325.95 Td (-attacks, ) Tj ET Q
q 0 0 0 rg BT 296.78 325.95 Td (we ) Tj ET Q
q 0 0 0 rg BT 311.35 325.95 Td (cannot ) Tj ET Q
q 0 0 0 rg BT 341.66 325.95 Td (ensure ) Tj ET Q
q 0 0 0 rg BT 371.39 325.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 389.46 325.95 Td (we ) Tj ET Q
q 0 0 0 rg BT 404.03 325.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 415.10 325.95 Td (any ) Tj ET Q
q 0 0 0 rg BT 432.58 325.95 Td (third ) Tj ET Q
q 0 0 0 rg BT 454.74 325.95 Td (parties ) Tj ET Q
q 0 0 0 rg BT 485.05 325.95 Td (has ) Tj ET Q
q 0 0 0 rg BT 501.37 325.95 Td (all ) Tj ET Q
q 0 0 0 rg BT 514.19 325.95 Td (appropriate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (controls ) Tj ET Q
q 0 0 0 rg BT 87.05 313.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 98.94 313.35 Td (place ) Tj ET Q
q 0 0 0 rg BT 124.81 313.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 136.70 313.35 Td (protect ) Tj ET Q
q 0 0 0 rg BT 169.57 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 186.12 313.35 Td (confidentiality ) Tj ET Q
q 0 0 0 rg BT 251.07 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 263.54 313.35 Td (such ) Tj ET Q
q 0 0 0 rg BT 286.51 313.35 Td (information) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.08 313.35 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 338.71 313.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 342.43 313.35 Td (In ) Tj ET Q
q 0 0 0 rg BT 354.89 313.35 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 395.65 313.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 413.37 313.35 Td (increased ) Tj ET Q
q 0 0 0 rg BT 456.73 313.35 Td (use ) Tj ET Q
q 0 0 0 rg BT 474.45 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 486.92 313.35 Td (mobile ) Tj ET Q
q 0 0 0 rg BT 519.80 313.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 538.68 313.35 Td (cloud ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (technologies ) Tj ET Q
q 0 0 0 rg BT 106.46 300.75 Td (could ) Tj ET Q
q 0 0 0 rg BT 133.69 300.75 Td (heighten ) Tj ET Q
q 0 0 0 rg BT 173.74 300.75 Td (these ) Tj ET Q
q 0 0 0 rg BT 199.21 300.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 218.26 300.75 Td (other ) Tj ET Q
q 0 0 0 rg BT 243.73 300.75 Td (operational ) Tj ET Q
q 0 0 0 rg BT 294.85 300.75 Td (risks ) Tj ET Q
q 0 0 0 rg BT 318.59 300.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 337.64 300.75 Td (any ) Tj ET Q
q 0 0 0 rg BT 356.70 300.75 Td (failure ) Tj ET Q
q 0 0 0 rg BT 387.99 300.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 402.38 300.75 Td (mobile ) Tj ET Q
q 0 0 0 rg BT 435.44 300.75 Td (technology ) Tj ET Q
q 0 0 0 rg BT 485.99 300.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 505.04 300.75 Td (cloud ) Tj ET Q
q 0 0 0 rg BT 532.27 300.75 Td (service ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (providers ) Tj ET Q
q 0 0 0 rg BT 93.42 288.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 105.85 288.15 Td (adequately ) Tj ET Q
q 0 0 0 rg BT 155.60 288.15 Td (safeguard ) Tj ET Q
q 0 0 0 rg BT 200.67 288.15 Td (their ) Tj ET Q
q 0 0 0 rg BT 224.18 288.15 Td (systems ) Tj ET Q
q 0 0 0 rg BT 261.70 288.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 281.12 288.15 Td (prevent ) Tj ET Q
q 0 0 0 rg BT 316.87 288.15 Td (cyber) Tj ET Q
q 0 0 0 rg BT 339.98 288.15 Td (-attacks, ) Tj ET Q
q 0 0 0 rg BT 379.52 288.15 Td (could ) Tj ET Q
q 0 0 0 rg BT 407.11 288.15 Td (disrupt ) Tj ET Q
q 0 0 0 rg BT 440.55 288.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 458.81 288.15 Td (operations ) Tj ET Q
q 0 0 0 rg BT 506.81 288.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 526.24 288.15 Td (result ) Tj ET Q
q 0 0 0 rg BT 553.83 288.15 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.55 Td (misappropriation, ) Tj ET Q
q 0 0 0 rg BT 126.49 275.55 Td (corruption ) Tj ET Q
q 0 0 0 rg BT 172.85 275.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 184.22 275.55 Td (loss ) Tj ET Q
q 0 0 0 rg BT 203.19 275.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 214.56 275.55 Td (personal, ) Tj ET Q
q 0 0 0 rg BT 255.38 275.55 Td (confidential ) Tj ET Q
q 0 0 0 rg BT 308.16 275.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 319.53 275.55 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 368.80 275.55 Td (information. ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 250.35 Td (An ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.46 250.35 Td (externally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.57 250.35 Td (caused ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.27 250.35 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.98 250.35 Td (security ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.35 250.35 Td (incident, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.93 250.35 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.30 250.35 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.18 250.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.97 250.35 Td (hacker ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.08 250.35 Td (attack, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.90 250.35 Td (virus ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.03 250.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.91 250.35 Td (worm, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.16 250.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.04 250.35 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.08 250.35 Td (internally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.45 250.35 Td (caused ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.75 Td (issue, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.71 237.75 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.54 237.75 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.88 237.75 Td (failure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.86 237.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.61 237.75 Td (control ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.94 237.75 Td (access ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.34 237.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.10 237.75 Td (sensitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.43 237.75 Td (systems, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.89 237.75 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.81 237.75 Td (materially ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.96 237.75 Td (interrupt ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.70 237.75 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.87 237.75 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.20 237.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.53 237.75 Td (cause ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.43 237.75 Td (disclosure ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 225.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.34 225.15 Td (modification ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.08 225.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.92 225.15 Td (sensitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.75 225.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.59 225.15 Td (confidential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.82 225.15 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.24 225.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.07 225.15 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.73 225.15 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.39 225.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.64 225.15 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.06 225.15 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.48 225.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.73 225.15 Td (material ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.22 225.15 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.04 225.15 Td (loss, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 212.55 Td (loss ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.47 212.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.84 212.55 Td (competitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.03 212.55 Td (position, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.12 212.55 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.89 212.55 Td (actions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.89 212.55 Td (breach ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.49 212.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.86 212.55 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.81 212.55 Td (contracts, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.96 212.55 Td (reputational ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.73 212.55 Td (harm ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.93 212.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.31 212.55 Td (legal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.34 212.55 Td (liability) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.32 212.55 Td (. ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 187.35 Td (There ) Tj ET Q
q 0 0 0 rg BT 113.52 187.35 Td (have ) Tj ET Q
q 0 0 0 rg BT 136.88 187.35 Td (been ) Tj ET Q
q 0 0 0 rg BT 160.24 187.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 168.44 187.35 Td (number ) Tj ET Q
q 0 0 0 rg BT 204.06 187.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 216.34 187.35 Td (recent ) Tj ET Q
q 0 0 0 rg BT 245.53 187.35 Td (highly ) Tj ET Q
q 0 0 0 rg BT 275.90 187.35 Td (publicized ) Tj ET Q
q 0 0 0 rg BT 323.17 187.35 Td (cases ) Tj ET Q
q 0 0 0 rg BT 348.87 187.35 Td (involving ) Tj ET Q
q 0 0 0 rg BT 392.66 187.35 Td (financial ) Tj ET Q
q 0 0 0 rg BT 432.93 187.35 Td (services ) Tj ET Q
q 0 0 0 rg BT 470.29 187.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 488.99 187.35 Td (consumer) Tj ET Q
q 0 0 0 rg BT 529.60 187.35 Td (-based ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 174.75 Td (companies ) Tj ET Q
q 0 0 0 rg BT 96.93 174.75 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 137.95 174.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 153.31 174.75 Td (unauthorized ) Tj ET Q
q 0 0 0 rg BT 210.66 174.75 Td (disclosure ) Tj ET Q
q 0 0 0 rg BT 255.77 174.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 267.04 174.75 Td (client ) Tj ET Q
q 0 0 0 rg BT 292.90 174.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 304.18 174.75 Td (customer ) Tj ET Q
q 0 0 0 rg BT 345.20 174.75 Td (information, ) Tj ET Q
q 0 0 0 rg BT 399.93 174.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 411.21 174.75 Td (well ) Tj ET Q
q 0 0 0 rg BT 431.81 174.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 443.09 174.75 Td (cyber) Tj ET Q
q 0 0 0 rg BT 466.20 174.75 Td (-attacks ) Tj ET Q
q 0 0 0 rg BT 501.38 174.75 Td (involving ) Tj ET Q
q 0 0 0 rg BT 544.17 174.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 162.15 Td (dissemination, ) Tj ET Q
q 0 0 0 rg BT 112.96 162.15 Td (theft ) Tj ET Q
q 0 0 0 rg BT 134.71 162.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 152.37 162.15 Td (destruction ) Tj ET Q
q 0 0 0 rg BT 201.53 162.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 212.78 162.15 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 254.93 162.15 Td (information ) Tj ET Q
q 0 0 0 rg BT 307.00 162.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 318.25 162.15 Td (other ) Tj ET Q
q 0 0 0 rg BT 342.33 162.15 Td (assets, ) Tj ET Q
q 0 0 0 rg BT 371.96 162.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 383.21 162.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 390.37 162.15 Td (result ) Tj ET Q
q 0 0 0 rg BT 416.20 162.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 427.45 162.15 Td (failure ) Tj ET Q
q 0 0 0 rg BT 457.36 162.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 468.03 162.15 Td (follow ) Tj ET Q
q 0 0 0 rg BT 497.95 162.15 Td (procedures ) Tj ET Q
q 0 0 0 rg BT 546.51 162.15 Td (by ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 149.55 Td (employees ) Tj ET Q
q 0 0 0 rg BT 97.16 149.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 108.66 149.55 Td (contractors ) Tj ET Q
q 0 0 0 rg BT 158.06 149.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 169.57 149.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 181.07 149.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 188.49 149.55 Td (result ) Tj ET Q
q 0 0 0 rg BT 214.57 149.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 226.07 149.55 Td (actions ) Tj ET Q
q 0 0 0 rg BT 258.57 149.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 271.83 149.55 Td (third ) Tj ET Q
q 0 0 0 rg BT 294.41 149.55 Td (parties, ) Tj ET Q
q 0 0 0 rg BT 327.78 149.55 Td (including ) Tj ET Q
q 0 0 0 rg BT 370.20 149.55 Td (actions ) Tj ET Q
q 0 0 0 rg BT 402.70 149.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 415.96 149.55 Td (terrorist ) Tj ET Q
q 0 0 0 rg BT 451.95 149.55 Td (or) Tj ET Q
q 0 0 0 rg BT 460.51 149.55 Td (ganizations ) Tj ET Q
q 0 0 0 rg BT 511.09 149.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 529.00 149.55 Td (hostile ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 136.95 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 82.88 136.95 Td (governments. ) Tj ET Q
q 0 0 0 rg BT 142.59 136.95 Td (W) Tj ET Q
q 0 0 0 rg BT 151.66 136.95 Td (e ) Tj ET Q
q 0 0 0 rg BT 159.39 136.95 Td (have ) Tj ET Q
q 0 0 0 rg BT 182.27 136.95 Td (been ) Tj ET Q
q 0 0 0 rg BT 205.15 136.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 221.05 136.95 Td (tar) Tj ET Q
q 0 0 0 rg BT 231.93 136.95 Td (get ) Tj ET Q
q 0 0 0 rg BT 247.82 136.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 259.63 136.95 Td (attempted ) Tj ET Q
q 0 0 0 rg BT 304.10 136.95 Td (cyber) Tj ET Q
q 0 0 0 rg BT 327.21 136.95 Td (-attacks ) Tj ET Q
q 0 0 0 rg BT 362.92 136.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 381.14 136.95 Td (must ) Tj ET Q
q 0 0 0 rg BT 404.63 136.95 Td (monitor ) Tj ET Q
q 0 0 0 rg BT 440.94 136.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 459.17 136.95 Td (develop ) Tj ET Q
q 0 0 0 rg BT 495.47 136.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 512.53 136.95 Td (systems ) Tj ET Q
q 0 0 0 rg BT 548.85 136.95 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 124.35 Td (protect ) Tj ET Q
q 0 0 0 rg BT 81.70 124.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 98.74 124.35 Td (technology ) Tj ET Q
q 0 0 0 rg BT 148.44 124.35 Td (infrastructure ) Tj ET Q
q 0 0 0 rg BT 208.04 124.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 226.24 124.35 Td (data ) Tj ET Q
q 0 0 0 rg BT 246.78 124.35 Td (from ) Tj ET Q
q 0 0 0 rg BT 270.23 124.35 Td (misappropriation ) Tj ET Q
q 0 0 0 rg BT 345.01 124.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 356.80 124.35 Td (corruption, ) Tj ET Q
q 0 0 0 rg BT 406.21 124.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 418.00 124.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 433.87 124.35 Td (failure ) Tj ET Q
q 0 0 0 rg BT 464.32 124.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 475.53 124.35 Td (do ) Tj ET Q
q 0 0 0 rg BT 489.07 124.35 Td (so ) Tj ET Q
q 0 0 0 rg BT 501.45 124.35 Td (could ) Tj ET Q
q 0 0 0 rg BT 527.83 124.35 Td (disrupt ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 111.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 66.31 111.75 Td (operations ) Tj ET Q
q 0 0 0 rg BT 112.86 111.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 130.84 111.75 Td (adversely ) Tj ET Q
q 0 0 0 rg BT 173.88 111.75 Td (af) Tj ET Q
q 0 0 0 rg BT 181.85 111.75 Td (fect ) Tj ET Q
q 0 0 0 rg BT 200.40 111.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 217.21 111.75 Td (business. ) Tj ET Q
q 0 0 0 rg BT 257.61 111.75 Td (Although ) Tj ET Q
q 0 0 0 rg BT 300.10 111.75 Td (we ) Tj ET Q
q 0 0 0 rg BT 315.15 111.75 Td (take ) Tj ET Q
q 0 0 0 rg BT 335.46 111.75 Td (protective ) Tj ET Q
q 0 0 0 rg BT 380.25 111.75 Td (measures ) Tj ET Q
q 0 0 0 rg BT 422.13 111.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 440.11 111.75 Td (endeavors ) Tj ET Q
q 0 0 0 rg BT 485.48 111.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 496.47 111.75 Td (strengthen ) Tj ET Q
q 0 0 0 rg BT 543.02 111.75 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 99.15 Td (computer ) Tj ET Q
q 0 0 0 rg BT 91.92 99.15 Td (systems, ) Tj ET Q
q 0 0 0 rg BT 130.56 99.15 Td (software, ) Tj ET Q
q 0 0 0 rg BT 172.11 99.15 Td (technology ) Tj ET Q
q 0 0 0 rg BT 221.53 99.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 248.79 99.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 266.72 99.15 Td (networks ) Tj ET Q
q 0 0 0 rg BT 307.98 99.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 318.91 99.15 Td (prevent ) Tj ET Q
q 0 0 0 rg BT 353.17 99.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 371.09 99.15 Td (address ) Tj ET Q
q 0 0 0 rg BT 405.35 99.15 Td (potential ) Tj ET Q
q 0 0 0 rg BT 444.86 99.15 Td (cyber) Tj ET Q
q 0 0 0 rg BT 467.96 99.15 Td (-attacks, ) Tj ET Q
q 0 0 0 rg BT 506.01 99.15 Td (there ) Tj ET Q
q 0 0 0 rg BT 529.76 99.15 Td (can ) Tj ET Q
q 0 0 0 rg BT 547.09 99.15 Td (be ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 86.55 Td (no ) Tj ET Q
q 0 0 0 rg BT 62.63 86.55 Td (assurance ) Tj ET Q
q 0 0 0 rg BT 106.06 86.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 124.43 86.55 Td (any ) Tj ET Q
q 0 0 0 rg BT 142.22 86.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 153.59 86.55 Td (these ) Tj ET Q
q 0 0 0 rg BT 177.79 86.55 Td (measures ) Tj ET Q
q 0 0 0 rg BT 219.48 86.55 Td (prove ) Tj ET Q
q 0 0 0 rg BT 246.02 86.55 Td (ef) Tj ET Q
q 0 0 0 rg BT 253.98 86.55 Td (fective.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 61.35 Td (Any ) Tj ET Q
q 0 0 0 rg BT 105.51 61.35 Td (information ) Tj ET Q
q 0 0 0 rg BT 157.02 61.35 Td (security ) Tj ET Q
q 0 0 0 rg BT 192.19 61.35 Td (incident ) Tj ET Q
q 0 0 0 rg BT 227.94 61.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 238.62 61.35 Td (cyber) Tj ET Q
q 0 0 0 rg BT 261.73 61.35 Td (-attack ) Tj ET Q
q 0 0 0 rg BT 292.22 61.35 Td (against ) Tj ET Q
q 0 0 0 rg BT 323.89 61.35 Td (us ) Tj ET Q
q 0 0 0 rg BT 335.16 61.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 345.83 61.35 Td (third ) Tj ET Q
q 0 0 0 rg BT 367.60 61.35 Td (parties ) Tj ET Q
q 0 0 0 rg BT 397.52 61.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 418.11 61.35 Td (whom ) Tj ET Q
q 0 0 0 rg BT 446.29 61.35 Td (we ) Tj ET Q
q 0 0 0 rg BT 460.47 61.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 475.22 61.35 Td (connected, ) Tj ET Q
q 0 0 0 rg BT 522.33 61.35 Td (including ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 48.75 Td (any ) Tj ET Q
q 0 0 0 rg BT 66.27 48.75 Td (interception, ) Tj ET Q
q 0 0 0 rg BT 120.65 48.75 Td (mishandling ) Tj ET Q
q 0 0 0 rg BT 174.17 48.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 184.53 48.75 Td (misuse ) Tj ET Q
q 0 0 0 rg BT 215.30 48.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 225.66 48.75 Td (personal, ) Tj ET Q
q 0 0 0 rg BT 265.46 48.75 Td (confidential ) Tj ET Q
q 0 0 0 rg BT 317.22 48.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 327.57 48.75 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 375.82 48.75 Td (information, ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.17 603.15 Td (present ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.40 603.15 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.04 603.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.69 603.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.43 603.15 Td (amount ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.83 603.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.24 603.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.80 603.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.54 603.15 Td (commitments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.60 603.15 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.42 603.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.15 603.15 Td (lease ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.04 603.15 Td (exceeds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.18 603.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 590.55 Td (amount ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.90 590.55 Td (due, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.58 590.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.23 590.55 Td (amount ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.62 590.55 Td (expected ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.83 590.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.90 590.55 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.71 590.55 Td (received, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.79 590.55 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.60 590.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.16 590.55 Td (sublease. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.61 590.55 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.18 590.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.74 590.55 Td (result, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.59 590.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.66 590.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.22 590.55 Td (period ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.95 590.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.59 590.55 Td (declining ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.56 590.55 Td (commercial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.02 590.55 Td (lease ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 577.95 Td (markets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.64 577.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.16 577.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.26 577.95 Td (exposed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.94 577.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.39 577.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.50 577.95 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.52 577.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.55 577.95 Td (incurring ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.32 577.95 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.19 577.95 Td (ges ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.47 577.95 Td (relating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.82 577.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.26 577.95 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.70 577.95 Td (premises ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.30 577.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.83 577.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.92 577.95 Td (seeking ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.27 577.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.72 577.95 Td (sublease ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.57 577.95 Td (resulting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.59 577.95 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (longer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.63 565.35 Td (periods ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.85 565.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.33 565.35 Td (identify ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.30 565.35 Td (sub-tenants ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.44 565.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.91 565.35 Td (reduced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.44 565.35 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.91 565.35 Td (rent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.54 565.35 Td (rates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.67 565.35 Td (leading ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.89 565.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.37 565.35 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.17 565.35 Td (sub-tenants ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.30 565.35 Td (paying ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.19 565.35 Td (less ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.25 565.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.73 565.35 Td (rent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.36 565.35 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.75 565.35 Td (we ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.16 552.75 Td (paying ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.58 552.75 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.33 552.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.17 552.75 Td (lease. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.99 552.75 Td (Also, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.30 552.75 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.55 552.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.05 552.75 Td (sub-tenant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.64 552.75 Td (defaults ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.72 552.75 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.06 552.75 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.82 552.75 Td (sublease, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.86 552.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.95 552.75 Td (would ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.04 552.75 Td (likely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.79 552.75 Td (incur ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.21 552.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.71 552.75 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.59 552.75 Td (ge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.34 552.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.43 552.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.10 552.75 Td (rent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.26 552.75 Td (that ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.58 540.15 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.76 540.15 Td (incur ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.17 540.15 Td (during ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.43 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.10 540.15 Td (period ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.76 540.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.35 540.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.43 540.15 Td (expect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.67 540.15 Td (would ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.76 540.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.51 540.15 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.34 540.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.34 540.15 Td (sublease ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.76 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.43 540.15 Td (premises ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.59 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.59 540.15 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.59 540.15 Td (reduction ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.09 540.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.09 540.15 Td (rent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.26 540.15 Td (that ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (current ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.60 527.55 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.12 527.55 Td (rent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.82 527.55 Td (rates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.01 527.55 Td (lead ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.86 527.55 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.57 527.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.10 527.55 Td (expect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.87 527.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.90 527.55 Td (new ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.76 527.55 Td (sub-tenant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.87 527.55 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.58 527.55 Td (pay) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.06 527.55 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.88 527.55 Td (There ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.73 527.55 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.67 527.55 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.95 527.55 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.82 527.55 Td (assurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.00 527.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.11 527.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.72 527.55 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.43 527.55 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.21 527.55 Td (recognize ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.12 514.95 Td (lease-related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.79 514.95 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.67 514.95 Td (ges, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.91 514.95 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.20 514.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.90 514.95 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.44 514.95 Td (material ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.46 514.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.25 514.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.88 514.95 Td (results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.92 514.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.29 514.95 Td (operations.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 489.75 Td (Potential Impairment of Goodwill and Intangible ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.39 489.75 Td (Assets Could Increase our Expenses and Reduce our ) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.15 Td (Assets) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 451.95 Td (Determining ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.39 451.95 Td (goodwill ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.55 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.54 451.95 Td (intangible ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.35 451.95 Td (assets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.29 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.28 451.95 Td (evaluating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.84 451.95 Td (them ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.65 451.95 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.72 451.95 Td (impairment, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.57 451.95 Td (requires ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.21 451.95 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.36 451.95 Td (management ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (estimates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.23 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.04 439.35 Td (judgment, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.98 439.35 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.29 439.35 Td (estimating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.69 439.35 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.08 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.89 439.35 Td (assessing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.62 439.35 Td (life ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.27 439.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.08 439.35 Td (connection ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.80 439.35 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.12 439.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.60 439.35 Td (allocation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.65 439.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.05 439.35 Td (purchase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.02 439.35 Td (price ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.73 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.62 426.75 Td (acquisition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.76 426.75 Td (creating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.63 426.75 Td (them. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.32 426.75 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.71 426.75 Td (goodwill ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.11 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.33 426.75 Td (intangible ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.38 426.75 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.94 426.75 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.08 426.75 Td (become ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.79 426.75 Td (impaired ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.18 426.75 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.99 426.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.71 426.75 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.10 426.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.91 426.75 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.13 426.75 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.27 426.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (factors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.10 414.15 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.18 414.15 Td (losses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.68 414.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.83 414.15 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.32 414.15 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.38 414.15 Td (contracts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.69 414.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.85 414.15 Td (declines ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.66 414.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.24 414.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.48 414.15 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.63 414.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.79 414.15 Td (managed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.10 414.15 Td (assets. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.10 414.15 Td (Any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.60 414.15 Td (impairment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 401.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.29 401.55 Td (goodwill ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.67 401.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.46 401.55 Td (intangibles ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.58 401.55 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.96 401.55 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.82 401.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.53 401.55 Td (material ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.97 401.55 Td (adverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.08 401.55 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.05 401.55 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.83 401.55 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.37 401.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.41 401.55 Td (results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.87 401.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.66 401.55 Td (operations. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.07 401.55 Td (For ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.70 401.55 Td (example, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.94 401.55 Td (during ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.40 401.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.27 401.55 Td (quarter ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 388.95 Td (ended ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.79 388.95 Td (December ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.15 388.95 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.49 388.95 Td (2017, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.34 388.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.80 388.95 Td (incurred ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.00 388.95 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.13 388.95 Td (impairment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.75 388.95 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.63 388.95 Td (ge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.76 388.95 Td (associated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.13 388.95 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.02 388.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.23 388.95 Td (combined ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.86 388.95 Td (EnT) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.57 388.95 Td (rustPermal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.28 388.95 Td (indefinite-life ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.62 376.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.14 376.35 Td (contracts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.91 376.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.20 376.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.82 376.35 Td ($195 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.69 376.35 Td (million; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.82 376.35 Td (and, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.48 376.35 Td (during ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.77 376.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.47 376.35 Td (quarter ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.07 376.35 Td (ended ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.02 376.35 Td (June ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.14 376.35 Td (30, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.14 376.35 Td (2017, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.64 376.35 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.75 376.35 Td (incurred ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.61 376.35 Td (impairment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.75 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.38 363.75 Td (ges ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.67 363.75 Td (associated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.11 363.75 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.07 363.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.36 363.75 Td (RARE ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.65 363.75 Td (Infrastructure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.08 363.75 Td (amortizable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.93 363.75 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.87 363.75 Td (contracts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.06 363.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.76 363.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.21 363.75 Td (trade ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.49 363.75 Td (name ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.52 363.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.22 363.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.26 363.75 Td ($32 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (million ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.32 351.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.97 351.15 Td ($2 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.96 351.15 Td (million, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.41 351.15 Td (respectively) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.45 351.15 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.57 351.15 Td (Changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.21 351.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.87 351.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.18 351.15 Td (assumptions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.59 351.15 Td (underlying ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.57 351.15 Td (projected ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.12 351.15 Td (cash ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.27 351.15 Td (flows ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.09 351.15 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.98 351.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.30 351.15 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.28 351.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.52 351.15 Td (reporting ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.55 Td (unit, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.70 338.55 Td (resulting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.69 338.55 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.35 338.55 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.74 338.55 Td (conditions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.36 338.55 Td (reduced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.34 338.55 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.08 338.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.07 338.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.89 338.55 Td (factors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.33 338.55 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.90 338.55 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.47 338.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.88 338.55 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.03 338.55 Td (impairment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.68 338.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.67 338.55 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.08 338.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.07 338.55 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.88 338.55 Td (assets. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 313.35 Td (There ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.17 313.35 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.94 313.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.04 313.35 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.73 313.35 Td (assurances ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.82 313.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.76 313.35 Td (continued ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.35 313.35 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.70 313.35 Td (uncertainty ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.12 313.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.06 313.35 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.66 313.35 Td (outflows, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.23 313.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.17 313.35 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.93 313.35 Td (factors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.32 313.35 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.17 313.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.10 300.75 Td (matter ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.37 300.75 Td (discussed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.07 300.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.69 300.75 Td (Note ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.55 300.75 Td (18 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.50 300.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.70 300.75 Td (Notes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.65 300.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.26 300.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.54 300.75 Td (Consolidated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.41 300.75 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.93 300.75 Td (Statements, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.09 300.75 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.87 300.75 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.74 300.75 Td (produce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.01 300.75 Td (additional ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.15 Td (impairments. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.16 288.15 Td (See ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.87 288.15 Td (�Item ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.32 288.15 Td (7. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.75 288.15 Td (Management's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.09 288.15 Td (Discussion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.72 288.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.65 288.15 Td (Analysis ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.95 288.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.24 288.15 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.86 288.15 Td (Condition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.42 288.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.13 288.15 Td (Results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.60 288.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.89 288.15 Td (Operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 553.51 288.15 Td (- ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (Critical ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.08 275.55 Td (Accounting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.75 275.55 Td (Policies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.69 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.53 275.55 Td (Estimates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.04 275.55 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.22 275.55 Td (Intangible ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.88 275.55 Td (Assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.98 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.83 275.55 Td (Goodwill� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.84 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.68 275.55 Td (�Note ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.44 275.55 Td (18 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.62 275.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.05 275.55 Td (Notes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.23 275.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.08 275.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.59 275.55 Td (Consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.20 262.95 Td (Statements.�) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 237.75 Td (Our Deferred T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.19 237.75 Td (ax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.93 237.75 Td (Assets May Not Be Fully Realizable) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 212.55 Td (As ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.65 212.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.88 212.55 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.76 212.55 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.37 212.55 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.48 212.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.20 212.55 Td (had ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.84 212.55 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.97 212.55 Td ($551 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.46 212.55 Td (million ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.27 212.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.92 212.55 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.08 212.55 Td (federal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.70 212.55 Td (deferred ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.16 212.55 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.46 212.55 Td (assets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.07 212.55 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.21 212.55 Td (represent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.17 212.55 Td (tax ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 199.95 Td (benefits ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.76 199.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.52 199.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.79 199.95 Td (expect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.21 199.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.40 199.95 Td (realize ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.39 199.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.58 199.95 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.67 199.95 Td (periods. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.22 199.95 Td (Under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.48 199.95 Td (accounting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.57 199.95 Td (rules, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.63 199.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.89 199.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.73 199.95 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.73 199.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.92 199.95 Td (recognize ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.75 199.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.43 199.95 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.30 199.95 Td (ge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.24 199.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.42 199.95 Td (earnings ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 187.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.68 187.35 Td (reduce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.68 187.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.69 187.35 Td (deferred ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.67 187.35 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.52 187.35 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.03 187.35 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.46 187.35 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.31 187.35 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.33 187.35 Td (determined ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.58 187.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.34 187.35 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.51 187.35 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.60 187.35 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.44 187.35 Td (benefits ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.70 187.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.53 187.35 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.96 187.35 Td (likely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.89 187.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.07 187.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.00 187.35 Td (realized ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.24 187.35 Td (before ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.07 187.35 Td (they ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.16 187.35 Td (expire. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 174.75 Td (Deferred ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.65 174.75 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.32 174.75 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.66 174.75 Td (generated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.31 174.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.32 174.75 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.83 174.75 Td (jurisdictions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.59 174.75 Td (resulting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.18 174.75 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.44 174.75 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.11 174.75 Td (operating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.60 174.75 Td (losses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.53 174.75 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.44 174.75 Td (expire ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.52 174.75 Td (20 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.86 174.75 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.86 174.75 Td (after ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.93 174.75 Td (they ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 162.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.63 162.15 Td (generated. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.20 162.15 Td (Those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.18 162.15 Td (resulting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.23 162.15 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.96 162.15 Td (foreign ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.59 162.15 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.73 162.15 Td (credits ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.03 162.15 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.40 162.15 Td (expire ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.95 162.15 Td (10 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.76 162.15 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.22 162.15 Td (after ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.77 162.15 Td (they ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.16 162.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.29 162.15 Td (generated. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.03 162.15 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.09 162.15 Td (order ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.55 162.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.03 162.15 Td (realize ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 149.55 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.13 149.55 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.26 149.55 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.14 149.55 Td (benefits, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.06 149.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.36 149.55 Td (estimate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.40 149.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.21 149.55 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.51 149.55 Td (must ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.98 149.55 Td (generate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.59 149.55 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.30 149.55 Td ($3.8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.73 149.55 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.21 149.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.43 149.55 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.56 149.55 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.28 149.55 Td (earnings, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.54 149.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.34 149.55 Td (which) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 136.95 Td ($1.3 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.66 136.95 Td (billion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.87 136.95 Td (must ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.07 136.95 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.77 136.95 Td (foreign ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.87 136.95 Td (sourced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.31 136.95 Td (earnings, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.30 136.95 Td (before ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.90 136.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.51 136.95 Td (benefits ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.53 136.95 Td (expire. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.98 136.95 Td (There ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.24 136.95 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.60 136.95 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.30 136.95 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.58 136.95 Td (assurances ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.27 136.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.80 136.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.82 136.95 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.95 136.95 Td (achieve ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 124.35 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.24 124.35 Td (level ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.21 124.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.53 124.35 Td (earnings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.67 124.35 Td (before ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.05 124.35 Td (some ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.78 124.35 Td (portion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.68 124.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.99 124.35 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.13 124.35 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.53 124.35 Td (benefits ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.34 124.35 Td (expires. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.85 124.35 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.17 124.35 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.77 124.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.33 124.35 Td (belief ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.80 124.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.12 124.35 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.93 124.35 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.83 124.35 Td (likely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.31 124.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.79 124.35 Td (able ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 553.85 124.35 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 111.75 Td (realize ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.67 111.75 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.45 111.75 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.72 111.75 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.75 111.75 Td (benefits ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.19 111.75 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.40 111.75 Td (based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.50 111.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.87 111.75 Td (part ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.40 111.75 Td (upon ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.60 111.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.80 111.75 Td (estimates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.07 111.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.02 111.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.05 111.75 Td (timing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.67 111.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.62 111.75 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.39 111.75 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.87 111.75 Td (ferences ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.04 111.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.41 111.75 Td (revenue ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.84 111.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.20 111.75 Td (expense ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 99.15 Td (recognition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.12 99.15 Td (between ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.91 99.15 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.54 99.15 Td (returns ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.50 99.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.46 99.15 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.99 99.15 Td (statements, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.75 99.15 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.11 99.15 Td (planning ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.66 99.15 Td (strategies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.12 99.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.08 99.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.88 99.15 Td (understanding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.17 99.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.72 99.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.35 99.15 Td (application ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 86.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.91 86.55 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.40 86.55 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.72 86.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.55 86.55 Td (ability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.04 86.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.87 86.55 Td (implement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.44 86.55 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.67 86.55 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.16 86.55 Td (planning ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.57 86.55 Td (strategies, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.51 86.55 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.84 86.55 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.58 86.55 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.15 86.55 Td (revised ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.14 86.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.97 86.55 Td (incorporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.44 86.55 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.18 86.55 Td (changes ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 73.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.19 73.95 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.55 73.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.82 73.95 Td (accounting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.41 73.95 Td (regulations. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.22 73.95 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.49 73.95 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.05 73.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.40 73.95 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.67 73.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.94 73.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.46 73.95 Td (deferred ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.96 73.95 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.31 73.95 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.33 73.95 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.86 73.95 Td (based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.29 73.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.32 73.95 Td (enacted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.90 73.95 Td (corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.07 73.95 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.42 73.95 Td (rates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.77 73.95 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 61.35 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.46 61.35 Td (periods. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.88 61.35 Td (Legislative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.42 61.35 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.12 61.35 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.57 61.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.62 61.35 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.08 61.35 Td (rates ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.79 61.35 Td (would ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.92 61.35 Td (require ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.54 61.35 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.09 61.35 Td (measurement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.95 61.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.58 61.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.46 61.35 Td (deferred ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.32 61.35 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.03 61.35 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.42 61.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.47 61.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.18 61.35 Td (period ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 48.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.72 48.75 Td (enactment. ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 110.96 48.75 Td (On ) Tj ET Q
q 0 0 0 rg BT 127.26 48.75 Td (December ) Tj ET Q
q 0 0 0 rg BT 173.87 48.75 Td (22, ) Tj ET Q
q 0 0 0 rg BT 190.46 48.75 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 217.56 48.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 233.86 48.75 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 256.00 48.75 Td (government ) Tj ET Q
q 0 0 0 rg BT 309.62 48.75 Td (enacted ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.95 615.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.54 615.75 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.97 615.75 Td (liability) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.96 615.75 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.99 615.75 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.92 615.75 Td (amount ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.02 615.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.36 615.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.79 615.75 Td (limitation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.23 615.75 Td (would ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.08 615.75 Td (generally ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.74 615.75 Td (equal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.08 615.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.51 615.75 Td (amount ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.29 603.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.33 603.15 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.52 603.15 Td (capitalization ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.13 603.15 Td (immediately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.66 603.15 Td (prior ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.11 603.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.32 603.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.19 603.15 Td (ownership ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.98 603.15 Td (change ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.75 603.15 Td (multiplied ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.96 603.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.50 603.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.38 603.15 Td (long-term ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.82 603.15 Td (tax-exempt ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.10 603.15 Td (interest ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 590.55 Td (rate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.04 590.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.02 590.55 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.98 590.55 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.53 590.55 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.91 590.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.47 590.55 Td (time. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.56 590.55 Td (Such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.37 590.55 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.09 590.55 Td (ownership ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.64 590.55 Td (change ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.18 590.55 Td (would ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.23 590.55 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.61 590.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.25 590.55 Td (timing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.48 590.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.03 590.55 Td (amount ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.33 590.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.89 590.55 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.52 590.55 Td (operating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.98 590.55 Td (loss ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.13 590.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.68 590.55 Td (foreign ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 577.95 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.96 577.95 Td (credit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.50 577.95 Td (benefits ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.37 577.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.25 577.95 Td (ultimately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.45 577.95 Td (realize ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.06 577.95 Td (before ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.51 577.95 Td (they ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.22 577.95 Td (expire. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.71 577.95 Td (If ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.34 577.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.21 577.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.67 577.95 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.28 577.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.08 577.95 Td (recognize ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.52 577.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.81 577.95 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.69 577.95 Td (ge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.24 577.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.04 577.95 Td (earnings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.24 577.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.04 577.95 Td (reduce ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.12 565.35 Td (deferred ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.72 565.35 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.17 565.35 Td (assets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.92 565.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.37 565.35 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.25 565.35 Td (ge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.79 565.35 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.49 565.35 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.03 565.35 Td (material ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.05 565.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.84 565.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.46 565.35 Td (earnings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.66 565.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.03 565.35 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.39 565.35 Td (condition.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 540.15 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.06 540.15 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.95 540.15 Td (Are Exposed to a Number of Risks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.53 540.15 Td (Arising From our International Operations) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 514.95 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.00 514.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.59 514.95 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.00 514.95 Td (operate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.06 514.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.41 514.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.24 514.95 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.49 514.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.41 514.95 Td (jurisdictions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.50 514.95 Td (outside ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.01 514.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.93 514.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.93 514.95 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.68 514.95 Td (States ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.94 514.95 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.61 514.95 Td (behalf ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.02 514.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.94 514.95 Td (international ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (clients. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.27 502.35 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.34 502.35 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.88 502.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.57 502.35 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.13 502.35 Td (fices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.82 502.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.86 502.35 Td (numerous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.14 502.35 Td (countries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.51 502.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.54 502.35 Td (many ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.74 502.35 Td (cross ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.19 502.35 Td (border ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.47 502.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.50 502.35 Td (local ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.78 502.35 Td (proprietary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.30 502.35 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.51 502.35 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.12 502.35 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.81 502.35 Td (domiciled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.68 502.35 Td (outside ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 489.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.69 489.75 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.64 489.75 Td (States. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.71 489.75 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.40 489.75 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.83 489.75 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.93 489.75 Td (require ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.03 489.75 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.73 489.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.26 489.75 Td (comply ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.12 489.75 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.16 489.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.35 489.75 Td (legal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.12 489.75 Td (requirements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.30 489.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.41 489.75 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.68 489.75 Td (foreign ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.15 Td (jurisdictions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.77 477.15 Td (expose ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.65 477.15 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.70 477.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.59 477.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.15 477.15 Td (political ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.28 477.15 Td (consequences ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.73 477.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.19 477.15 Td (operating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.57 477.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.46 477.15 Td (foreign ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.50 477.15 Td (jurisdictions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.14 477.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.03 477.15 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.49 477.15 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.55 477.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.44 477.15 Td (expropriation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 464.55 Td (risks, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.95 464.55 Td (expatriation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.09 464.55 Td (controls ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.91 464.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.07 464.55 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.80 464.55 Td (adverse ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.86 464.55 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.68 464.55 Td (consequences ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.39 464.55 Td (which, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.67 464.55 Td (among ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.24 464.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.81 464.55 Td (things, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.10 464.55 Td (make ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.83 464.55 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.65 464.55 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.22 464.55 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.69 464.55 Td (ficult ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.85 464.55 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 451.95 Td (repatriate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.63 451.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.29 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.60 451.95 Td (United ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.67 451.95 Td (States ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.25 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.56 451.95 Td (cash ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.71 451.95 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.95 451.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.68 451.95 Td (generate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.73 451.95 Td (outside ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.55 451.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.87 451.95 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.48 451.95 Td (At ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.47 451.95 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.37 451.95 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.98 451.95 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.10 451.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.59 451.95 Td (total ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.74 451.95 Td (liquid ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.73 451.95 Td (assets, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.35 451.95 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.35 Td (include ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.25 439.35 Td (cash, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.37 439.35 Td (cash ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.88 439.35 Td (equivalents ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.54 439.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.54 439.35 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.95 439.35 Td (current ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.52 439.35 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.44 439.35 Td (securities, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.56 439.35 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.81 439.35 Td ($942 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.65 439.35 Td (million. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.25 439.35 Td (These ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.17 439.35 Td (liquid ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.51 439.35 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.85 439.35 Td (included ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.75 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.88 426.75 Td ($368 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.62 426.75 Td (million ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.69 426.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.17 426.75 Td (cash ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.56 426.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.45 426.75 Td (investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.35 426.75 Td (held ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.16 426.75 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.40 426.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.13 426.75 Td (foreign ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.18 426.75 Td (subsidiaries, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.12 426.75 Td (some ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.02 426.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.50 426.75 Td (which, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.52 426.75 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.67 426.75 Td (repatriated, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.92 426.75 Td (may ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 62.04 414.15 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.40 414.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.20 414.15 Td (material ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.22 414.15 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.67 414.15 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.64 414.15 Td (fects.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 388.95 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.98 388.95 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.76 388.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.74 388.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.29 388.95 Td (exposed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.44 388.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.34 388.95 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.64 388.95 Td (risks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.21 388.95 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.51 388.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.42 388.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.98 388.95 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.46 388.95 Td (ferent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.67 388.95 Td (currencies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.55 388.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.45 388.95 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.85 388.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.83 388.95 Td (transact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.22 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.11 388.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.68 388.95 Td (home ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (jurisdictions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.17 376.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.67 376.35 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.98 376.35 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.39 376.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.31 376.35 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.72 376.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.08 376.35 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.34 376.35 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.09 376.35 Td (invested. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.46 376.35 Td (Uncertainties ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.19 376.35 Td (regarding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.18 376.35 Td (developments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.25 376.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.17 376.35 Td (those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.09 376.35 Td (jurisdictions ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.75 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.37 363.75 Td (produce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.49 363.75 Td (volatility ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.71 363.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.17 363.75 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.72 363.75 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.75 363.75 Td (markets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.29 363.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.75 363.75 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.28 363.75 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.16 363.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.45 363.75 Td (results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.17 363.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.22 363.75 Td (operations. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.88 363.75 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.94 363.75 Td (This ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.91 363.75 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.29 363.75 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 545.16 363.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (levels ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.68 351.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.53 351.15 Td (composition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.13 351.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.56 351.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.88 351.15 Td (AUM ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.07 351.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.91 351.15 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.51 351.15 Td (negatively ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.94 351.15 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.20 351.15 Td (investor ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.71 351.15 Td (sentiment, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.85 351.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.20 351.15 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.22 351.15 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.23 351.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.09 351.15 Td (reduced ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.00 351.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.43 351.15 Td (negative ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.55 Td (flows. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.07 338.55 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.42 338.55 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.07 338.55 Td (because ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.91 338.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.34 338.55 Td (U.K. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.37 338.55 Td (Pound ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.81 338.55 Td (Sterling ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.67 338.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.44 338.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.88 338.55 Td (Euro ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.90 338.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.32 338.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.76 338.55 Td (currency ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.09 338.55 Td (used ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.95 338.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.73 338.55 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.90 338.55 Td (aspects ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.83 338.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.18 338.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.79 338.55 Td (business, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 325.95 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.62 325.95 Td (weakening ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.07 325.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.78 325.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.57 325.95 Td (U.K. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.95 325.95 Td (Pound ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.76 325.95 Td (Sterling ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.97 325.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.68 325.95 Td (Euro ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.06 325.95 Td (relative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.50 325.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.63 325.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.42 325.95 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.06 325.95 Td (Dollar ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.85 325.95 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.14 325.95 Td (negatively ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.84 325.95 Td (impact ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.38 325.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.34 325.95 Td (reported ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.28 325.95 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.35 Td (results.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 288.15 Td (Despite ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.70 288.15 Td (controls ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.65 288.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.94 288.15 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.64 288.15 Td (actions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.50 288.15 Td (reasonably ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.11 288.15 Td (designed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.56 288.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.85 288.15 Td (mitigate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.38 288.15 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.08 288.15 Td (risks, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.67 288.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.79 288.15 Td (international ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.98 288.15 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.84 288.15 Td (expose ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.27 275.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.86 275.55 Td (risks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.13 275.55 Td (arising ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.13 275.55 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.97 275.55 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.98 275.55 Td (Mason's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.97 275.55 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.14 275.55 Td (responsibility ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.73 275.55 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.41 275.55 Td (actions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.58 275.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.75 275.55 Td (third ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.01 275.55 Td (party ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.02 275.55 Td (agents ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.27 275.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.86 275.55 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.86 275.55 Td (representatives ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.26 275.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.25 262.95 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.60 262.95 Td (operating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.01 262.95 Td (outside ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.10 262.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.86 262.95 Td (primary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.85 262.95 Td (jurisdictions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.53 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.03 262.95 Td (operation. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.07 262.95 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.16 262.95 Td (foreign ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.24 262.95 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.58 262.95 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.08 262.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.66 262.95 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.33 262.95 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.83 262.95 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 250.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.95 250.35 Td (following ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.41 250.35 Td (risks:) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 225.15 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 225.15 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.97 225.15 Td (ficulty in managing, operating and marketing our international operations;) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 212.55 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 212.55 Td (fluctuations in currency exchange rates which may result in substantial negative ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.99 212.55 Td (fects on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.98 212.55 Td (AUM and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 199.95 Td (revenues in our U.S. dollar) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.43 199.95 Td (-based financial statements; and) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 85.50 187.35 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.50 187.35 Td (significant adverse changes in foreign political, economic, legal and regulatory environments.) Tj ET Q
BT /F2 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 162.15 Td (Legal and Regulatory Risks) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 136.95 Td (Regulatory Matters May Negatively ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.43 136.95 Td (Af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.74 136.95 Td (fect our Business and Results of Operations) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 111.75 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.36 111.75 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.47 111.75 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.01 111.75 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.28 111.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.98 111.75 Td (regulation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.07 111.75 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.10 111.75 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.54 111.75 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.22 111.75 Td (authorities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.07 111.75 Td (around ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.76 111.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.12 111.75 Td (world ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.14 111.75 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.42 111.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.76 111.75 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.64 111.75 Td (ged ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.33 111.75 Td (with ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 99.15 Td (protecting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.53 99.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.83 99.15 Td (interests ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.28 99.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.49 99.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.95 99.15 Td (clients. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.35 99.15 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.42 99.15 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.54 99.15 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.33 99.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.71 99.15 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.91 99.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.55 99.15 Td (civil ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.67 99.15 Td (liability) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.66 99.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.75 99.15 Td (criminal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.20 99.15 Td (liability) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.18 99.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.27 99.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.48 99.15 Td (sanction, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.56 99.15 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.69 99.15 Td (revocation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 86.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.34 86.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.44 86.55 Td (subsidiaries' ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.01 86.55 Td (registrations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.01 86.55 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.86 86.55 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.04 86.55 Td (advisers, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.17 86.55 Td (revocation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.58 86.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.42 86.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.35 86.55 Td (licenses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.69 86.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.53 86.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.63 86.55 Td (employees, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.25 86.55 Td (censures, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.13 86.55 Td (fines, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.26 86.55 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 73.95 Td (temporary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.60 73.95 Td (suspension ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.64 73.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.34 73.95 Td (permanent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.61 73.95 Td (bar ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.97 73.95 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.34 73.95 Td (conducting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.95 73.95 Td (business, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.11 73.95 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.48 73.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.68 73.95 Td (violate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.20 73.95 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.41 73.95 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.61 73.95 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.31 73.95 Td (regulations. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.11 73.95 Td (Any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.15 73.95 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.35 73.95 Td (liability ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 61.35 Td (or ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.93 61.35 Td (material ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.90 61.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.47 61.35 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.78 61.35 Td (condition, ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.96 61.35 Td (operations, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.90 61.35 Td (reputation, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.67 61.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.41 61.35 Td (business ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 48.75 Td (prospects. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.33 48.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.61 48.75 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.19 48.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.56 48.75 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.26 48.75 Td (environment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.87 48.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.58 48.75 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.78 48.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.57 48.75 Td (operate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.00 48.75 Td (frequently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.70 48.75 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.06 48.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.76 48.75 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.30 48.75 Td (seen ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.50 48.75 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.36 48.75 Td (increased ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.50 729.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.38 729.15 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.83 729.15 Td (communities ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.69 729.15 Td (general, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.93 729.15 Td (including ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.74 729.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.29 729.15 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.26 729.15 Td (governing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.56 729.15 Td (taxation, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 716.55 Td (antitrust ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.21 716.55 Td (electronic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.79 716.55 Td (commerce. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.33 716.55 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.27 716.55 Td (particular) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.08 716.55 Td (, ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.32 716.55 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.33 716.55 Td (incurred, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.13 716.55 Td (and ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.01 716.55 Td (continue ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.71 716.55 Td (incur) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.86 716.55 Td (, ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 703.95 Td (additional ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.94 703.95 Td (a ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.37 703.95 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.75 703.95 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.81 703.95 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.77 703.95 Td (fecting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.16 703.95 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.07 703.95 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.46 703.95 Td (funds, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.65 703.95 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.70 703.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.10 703.95 Td (European ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.57 703.95 Td (mutual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.96 703.95 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.44 703.95 Td (regulation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 691.35 Td (and ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.79 691.35 Td (data ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.91 691.35 Td (privacy ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.00 691.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.46 691.35 Td (U.K. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.50 691.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.28 691.35 Td (the ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.68 691.35 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.65 691.35 Td (fect ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.80 691.35 Td (May ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.68 691.35 Td (2018.) Tj ET Q
BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 666.15 Td (e ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.96 666.15 Td (adversely ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.41 666.15 Td (fected ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.18 666.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.22 653.55 Td (and ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.99 653.55 Td (The ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.19 653.55 Td (associated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.63 653.55 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.58 653.55 Td (consistently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.02 653.55 Td (interpreting ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.52 640.95 Td (issued ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.14 640.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.67 640.95 Td (multiple ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.04 640.95 Td (countries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.89 640.95 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.34 640.95 Td (add ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.86 640.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.40 640.95 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.01 640.95 Td (risks. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.67 640.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.36 640.95 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.40 640.95 Td (federal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.91 640.95 Td (government ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.43 640.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.95 640.95 Td (governments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.56 640.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.09 640.95 Td (non-U.S. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.35 Td (jurisdictions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.85 628.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.46 628.35 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.56 628.35 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 157.24 628.35 Td (operate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.57 628.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.83 628.35 Td (made, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.63 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.22 628.35 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.48 628.35 Td (proposed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.41 628.35 Td (further) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.56 628.35 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.62 628.35 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.38 628.35 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.64 628.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.24 628.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.50 628.35 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.09 628.35 Td (structure ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.26 628.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.86 615.75 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.12 615.75 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.47 615.75 Td (industry) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.21 615.75 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.36 615.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.05 615.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.83 615.75 Td (expect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.75 615.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.45 615.75 Td (spend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.48 615.75 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.67 615.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.36 615.75 Td (resources ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.54 615.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.24 615.75 Td (comply ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.27 615.75 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.46 615.75 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.57 615.75 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.25 615.75 Td (changes. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.22 615.75 Td (For ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 552.34 615.75 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.15 Td (summary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.20 603.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.58 603.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.03 603.15 Td (laws, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.53 603.15 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.81 603.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.59 603.15 Td (regulators ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.20 603.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.00 603.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.28 603.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.15 603.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.59 603.15 Td (subject, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.59 603.15 Td (see ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.62 603.15 Td (�Item ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.15 603.15 Td (1 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.02 603.15 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.14 603.15 Td (Business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.11 603.15 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.23 603.15 Td (Regulation.�) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 577.95 Td (Instances ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.49 577.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.16 577.95 Td (criminal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.07 577.95 Td (activity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.49 577.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.57 577.95 Td (fraud ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.65 577.95 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.08 577.95 Td (participants ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.98 577.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.08 577.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.83 577.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.16 577.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.73 577.95 Td (industry) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.47 577.95 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.02 577.95 Td (disclosures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.60 577.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.27 577.95 Td (trading ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 565.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.54 565.35 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.99 565.35 Td (abuses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.85 565.35 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.23 565.35 Td (participants ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.09 565.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.13 565.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.83 565.35 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.44 565.35 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.13 565.35 Td (industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.43 565.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.46 565.35 Td (significant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.66 565.35 Td (governmental ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.27 565.35 Td (intervention ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.88 565.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.92 565.35 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 552.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.43 552.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.01 552.75 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.50 552.75 Td (markets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.50 552.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.42 552.75 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.91 552.75 Td (firms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.83 552.75 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.41 552.75 Td (led ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.00 552.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.59 552.75 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.02 552.75 Td (government ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.93 552.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.85 552.75 Td (regulators ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.59 552.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.52 552.75 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.67 552.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.26 552.75 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.43 552.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.35 552.75 Td (regulations ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.15 Td (governing, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.78 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.02 540.15 Td (oversight ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.18 540.15 Td (of, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.63 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.54 540.15 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.29 540.15 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.10 540.15 Td (system. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.75 540.15 Td (This ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.50 540.15 Td (activity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.07 540.15 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.15 540.15 Td (resulted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.47 540.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.72 540.15 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.62 540.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.86 540.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.77 540.15 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.10 540.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.34 540.15 Td (regulations ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (governing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.78 527.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.31 527.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.42 527.55 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.77 527.55 Td (industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.89 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.75 527.55 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.02 527.55 Td (aggressive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.04 527.55 Td (enforcement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.22 527.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.67 527.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.20 527.55 Td (existing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.15 527.55 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.10 527.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.96 527.55 Td (regulations. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 540.67 527.55 Td (The ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 514.95 Td (ongoing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.12 514.95 Td (revisions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.24 514.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.62 514.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.65 514.95 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.10 514.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.47 514.95 Td (regulations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.33 514.95 Td (governing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.11 514.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.31 514.95 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.11 514.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.13 514.95 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.25 514.95 Td (ongoing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.87 514.95 Td (process. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.96 514.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.49 514.95 Td (cumulative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.35 514.95 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.32 514.95 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.26 514.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.35 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.63 502.35 Td (actions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.93 502.35 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.57 502.35 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.46 502.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.18 502.35 Td (increased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.38 502.35 Td (expenses, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.47 502.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.78 502.35 Td (lower ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.24 502.35 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.45 502.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.75 502.35 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.88 502.35 Td (fees, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.97 502.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.69 502.35 Td (therefore ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.14 502.35 Td (adversely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.93 502.35 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.89 502.35 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.19 502.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 489.75 Td (revenues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.44 489.75 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.81 489.75 Td (profitability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.60 489.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.97 489.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.59 489.75 Td (business.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 464.55 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.97 464.55 Td (Business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.45 464.55 Td (Involves ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.57 464.55 Td (Risks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.88 464.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.59 464.55 Td (Being ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.22 464.55 Td (Engaged ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.68 464.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.40 464.55 Td (Litigation, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.58 464.55 Td (Regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.38 464.55 Td (Proceedings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.41 464.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.71 464.55 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.16 464.55 Td (ax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.63 464.55 Td (Disputes, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.41 464.55 Td (Which ) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 451.95 Td (May ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.37 451.95 Td (Result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.42 451.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.80 451.95 Td (Liability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.59 451.95 Td (That ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.64 451.95 Td (Could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.52 451.95 Td (Increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.48 451.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.28 451.95 Td (Expenses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.74 451.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.71 451.95 Td (Reduce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.41 451.95 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.21 451.95 Td (Net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.00 451.95 Td (Income) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 426.75 Td (Many ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.45 426.75 Td (aspects ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.22 426.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.42 426.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.87 426.75 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.90 426.75 Td (involve ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.85 426.75 Td (substantial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.21 426.75 Td (risks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.50 426.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.70 426.75 Td (liability) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.68 426.75 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.76 426.75 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.96 426.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.23 426.75 Td (normal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.43 426.75 Td (course ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.28 426.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.48 426.75 Td (business, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.14 426.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.59 426.75 Td (asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.15 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.12 414.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.32 414.15 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.12 414.15 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.17 414.15 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.73 414.15 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.77 414.15 Td (named ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.15 414.15 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.28 414.15 Td (defendants ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.15 414.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.29 414.15 Td (co-defendants ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.56 414.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.12 414.15 Td (lawsuits, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.55 414.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.68 414.15 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.89 414.15 Td (involved ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.02 414.15 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.57 414.15 Td (disputes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.38 414.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.51 414.15 Td (involve ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 401.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 65.83 401.55 Td (threat ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.24 401.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.49 401.55 Td (lawsuits, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.03 401.55 Td (seeking ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.61 401.55 Td (substantial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.03 401.55 Td (damages. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.64 401.55 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.71 401.55 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.87 401.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.19 401.55 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.61 401.55 Td (involved ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.86 401.55 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.77 401.55 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.94 401.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.61 401.55 Td (time ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.78 401.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.45 401.55 Td (governmental ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.68 401.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.34 401.55 Td (self- ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 388.95 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.80 388.95 Td (or) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.36 388.95 Td (ganization ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.25 388.95 Td (investigations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.73 388.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.05 388.95 Td (proceedings, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.56 388.95 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.38 388.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.36 388.95 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.66 388.95 Td (matter ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.64 388.95 Td (discussed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.04 388.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.36 388.95 Td ("Item ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.04 388.95 Td (3 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.44 388.95 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.10 388.95 Td (Legal ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.35 Td (Proceedings" ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.18 376.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.41 376.35 Td (Note ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.89 376.35 Td (18 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.47 376.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.28 376.35 Td (Notes) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 194.78 376.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.85 376.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.09 376.35 Td (Consolidated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.58 376.35 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.72 376.35 Td (Statements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.87 376.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.10 376.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.00 376.35 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.22 376.35 Td (proceedings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.03 376.35 Td (discussed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.35 376.35 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.58 376.35 Td (Note ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.75 Td (8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 57.14 363.75 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.27 363.75 Td (Notes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.16 363.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.72 363.75 Td (Consolidated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.52 363.75 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.98 363.75 Td (Statements. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.08 363.75 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.47 363.75 Td (No ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.69 363.75 Td (assurances ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.98 363.75 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.94 363.75 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.24 363.75 Td (given ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.95 363.75 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.09 363.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.65 363.75 Td (how ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.12 363.75 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.68 363.75 Td (existing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.32 363.75 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.86 363.75 Td (matter) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.26 363.75 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.27 363.75 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.15 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.99 351.15 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.89 351.15 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.37 351.15 Td (matter) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.77 351.15 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.72 351.15 Td (might ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.55 351.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.79 351.15 Td (resolved ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.69 351.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.76 351.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.92 351.15 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.89 351.15 Td (fect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.95 351.15 Td (it ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.11 351.15 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.52 351.15 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.67 351.15 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.49 351.15 Td (us ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.16 351.15 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.23 351.15 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.56 351.15 Td (business. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.10 351.15 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.69 351.15 Td (Any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.10 351.15 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.67 351.15 Td (resolution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 550.00 351.15 Td (is ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.55 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.24 338.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.41 338.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.24 338.55 Td (final ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.49 338.55 Td (review ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.06 338.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.22 338.55 Td (approval ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.96 338.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.71 338.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.54 338.55 Td (DOJ, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.42 338.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.25 338.55 Td (SEC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.51 338.55 Td (Commissioners ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.85 338.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.01 338.55 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.59 338.55 Td (Mason's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.15 338.55 Td (Board ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.81 338.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.56 338.55 Td (Directors. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 545.26 338.55 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.26 338.55 Td (In ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 325.95 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.43 325.95 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.56 325.95 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.27 325.95 Td (involved ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.91 325.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.96 325.95 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.51 325.95 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.23 325.95 Td (dispute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.45 325.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.51 325.95 Td (Brazil ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.06 325.95 Td (arising ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.53 325.95 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.83 325.95 Td (matters ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.63 325.95 Td (relating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.59 325.95 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.64 325.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.36 325.95 Td (tax ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.08 325.95 Td (deductibility ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.05 325.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.68 325.95 Td (goodwill ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.35 Td (amortization ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.67 313.35 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.44 313.35 Td (respect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.27 313.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.54 313.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.46 313.35 Td (Brazilian ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.05 313.35 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.74 313.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.58 313.35 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.68 313.35 Td (subsidiary) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.17 313.35 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.67 313.35 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.74 313.35 Td (estern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.23 313.35 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.66 313.35 Td (Management. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 467.98 313.35 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.40 313.35 Td (assessments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.25 313.35 Td (that ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 300.75 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.49 300.75 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.81 300.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.56 300.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.98 300.75 Td (dispute ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.89 300.75 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.72 300.75 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.13 300.75 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.87 300.75 Td (2007 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.46 300.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.20 300.75 Td (2008 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.79 300.75 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.77 300.75 Td (withdrawn ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.26 300.75 Td (after ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.08 300.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.91 300.75 Td (received ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.05 300.75 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.30 300.75 Td (favorable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.52 300.75 Td (ruling ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.19 300.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.94 300.75 Td (administrative ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 288.15 Td (court. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.19 288.15 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.36 288.15 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.17 288.15 Td (assessments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.41 288.15 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.15 288.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.46 288.15 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.11 288.15 Td (2009 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.60 288.15 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.76 288.15 Td (2010 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.25 288.15 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.14 288.15 Td (recently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.44 288.15 Td (upheld ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.51 288.15 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.50 288.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.82 288.15 Td (judgment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.97 288.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.21 288.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.53 288.15 Td (same ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.60 288.15 Td (level ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.55 Td (administrative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.81 275.55 Td (court ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.62 275.55 Td (\(but ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.77 275.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.51 275.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.40 275.55 Td (dif) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.88 275.55 Td (ferent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.60 275.55 Td (panel\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.07 275.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.05 275.55 Td (overruled ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.52 275.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.58 275.55 Td (assessments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.57 275.55 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 384.05 275.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.12 275.55 Td (previous ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 437.51 275.55 Td (period. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 469.04 275.55 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.11 275.55 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.01 275.55 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.06 275.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.46 275.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.53 275.55 Td (process ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 262.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.86 262.95 Td (appealing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.29 262.95 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.08 262.95 Td (result. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.65 262.95 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.07 262.95 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.01 262.95 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.46 262.95 Td (amount ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.57 262.95 Td (of ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.81 237.75 Td (million. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.71 237.75 Td (It ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.06 237.75 Td (may ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.50 237.75 Td (another ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.92 237.75 Td (three ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.84 237.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.95 237.75 Td (five ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.21 237.75 Td (years ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.85 237.75 Td (final ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.94 212.55 Td (additional ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.81 212.55 Td (can ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.04 741.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.17 741.75 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.71 741.75 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.07 741.75 Td (manage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.85 741.75 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.79 741.75 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.67 741.75 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.96 741.75 Td (actual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.16 741.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.45 741.75 Td (threatened ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.30 741.75 Td (lawsuits ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.85 741.75 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 729.15 Td (governmental ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 110.33 729.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.59 729.15 Td (self-regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.50 729.15 Td (or) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.05 729.15 Td (ganization ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.89 729.15 Td (investigations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.32 729.15 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.58 729.15 Td (proceedings, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.03 729.15 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.29 729.15 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.14 729.15 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.90 729.15 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.33 729.15 Td (harm ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.00 729.15 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.93 729.15 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 716.55 Td (returns ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.26 716.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.61 716.55 Td (reputation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.79 716.55 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.14 716.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.57 716.55 Td (applicable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.32 716.55 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.18 716.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.53 716.55 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.46 716.55 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.23 716.55 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.83 716.55 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.85 716.55 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.69 716.55 Td (being ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.62 716.55 Td (liable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.55 716.55 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 409.32 716.55 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.76 716.55 Td (funds ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.69 716.55 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.54 716.55 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.31 716.55 Td (resulting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.66 716.55 Td (damages. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 703.95 Td (There ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.91 703.95 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.84 703.95 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.60 703.95 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.44 703.95 Td (increased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.01 703.95 Td (incidence ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.17 703.95 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.85 703.95 Td (litigation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.70 703.95 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.79 703.95 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.87 703.95 Td (investigations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.13 703.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.23 703.95 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.99 703.95 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.34 703.95 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.91 703.95 Td (industry ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.26 703.95 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.36 703.95 Td (recent ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 691.35 Td (years, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.72 691.35 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.82 691.35 Td (customer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.75 691.35 Td (claims ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.60 691.35 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.79 691.35 Td (well ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.31 691.35 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.50 691.35 Td (class ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.35 691.35 Td (action ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.45 691.35 Td (suits ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.14 691.35 Td (seeking ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.66 691.35 Td (substantial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 387.01 691.35 Td (damages. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.28 691.35 Td (Any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.80 691.35 Td (litigation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.16 691.35 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.17 691.35 Td (increase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.00 691.35 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 678.75 Td (expenses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.03 678.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.82 678.75 Td (reduce ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.42 678.75 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.04 678.75 Td (net ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.49 678.75 Td (income.) Tj ET Q
BT /F3 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 653.55 Td (Insurance May Not Be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.62 653.55 Td (A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.85 653.55 Td (vailable on a Cost-Ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.95 653.55 Td (fective Basis to Protect us From Liability) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 628.35 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 628.35 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.21 628.35 Td (face ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.67 628.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.47 628.35 Td (inherent ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.86 628.35 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.59 628.35 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.31 628.35 Td (liability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.96 628.35 Td (related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.50 628.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.64 628.35 Td (litigation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.54 628.35 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.93 628.35 Td (clients, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.94 628.35 Td (third-party ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.82 628.35 Td (vendors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.05 628.35 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.77 628.35 Td (others ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.41 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.55 628.35 Td (actions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 539.27 628.35 Td (taken ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.75 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 63.21 615.75 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.57 615.75 Td (agencies. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.31 615.75 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.99 615.75 Td (o ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.45 615.75 Td (help ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.74 615.75 Td (protect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.10 615.75 Td (against ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.05 615.75 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.83 615.75 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.78 615.75 Td (liabilities, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.70 615.75 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.15 615.75 Td (purchase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.67 615.75 Td (insurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.11 615.75 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.49 615.75 Td (amounts, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.90 615.75 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.27 615.75 Td (against ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.15 Td (risks, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.47 603.15 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.73 603.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.48 603.15 Td (consider ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.56 603.15 Td (appropriate, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.50 603.15 Td (where ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.66 603.15 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.42 603.15 Td (insurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.16 603.15 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.67 603.15 Td (available ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.08 603.15 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.16 603.15 Td (prices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.74 603.15 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.50 603.15 Td (deem ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.74 603.15 Td (acceptable. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.07 603.15 Td (There ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.06 603.15 Td (can ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.14 603.15 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.56 603.15 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.57 603.15 Td (assurance, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 590.55 Td (however) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.23 590.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.16 590.55 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.20 590.55 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.16 590.55 Td (claim ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.79 590.55 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.84 590.55 Td (claims ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.55 590.55 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.18 590.55 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.39 590.55 Td (covered ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.92 590.55 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.72 590.55 Td (insurance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.26 590.55 Td (or) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.58 590.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.51 590.55 Td (if ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.22 590.55 Td (covered, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.38 590.55 Td (will ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.58 590.55 Td (available ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.77 590.55 Td (insurance ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.74 577.95 Td (any ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.49 577.95 Td (solvent ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.68 577.95 Td (its ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.40 577.95 Td (provide ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.14 565.35 Td (available ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.55 565.35 Td (reasonable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.48 565.35 Td (cost. ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.32 565.35 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.85 565.35 Td (market ) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.70 540.15 Td (Renewals ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.55 Td (expose ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.04 527.55 Td (additional ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.75 527.55 Td (deductibles ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.19 527.55 Td (or ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F2 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F2 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 617.70 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.86 617.70 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.31 617.70 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.58 617.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.77 617.70 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.38 617.70 Td (subsidiaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 267.00 617.70 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.85 617.70 Td (housed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.63 617.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.84 617.70 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.39 617.70 Td (fice ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.17 617.70 Td (buildings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.29 617.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.49 617.70 Td (39 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.03 617.70 Td (cities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.22 617.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.42 617.70 Td (17 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.96 617.70 Td (countries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.48 617.70 Td (around ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.68 617.70 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 605.10 Td (world. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.06 605.10 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.01 605.10 Td (lar) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.89 605.10 Td (gest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.43 605.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.80 605.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.26 605.10 Td (leases ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.95 605.10 Td (include:) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 90.00 579.90 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 579.90 Td (ClearBridge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.05 579.90 Td (Investments, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.80 579.90 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.87 579.90 Td (estern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.63 579.90 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.69 579.90 Td (Management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.23 579.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.12 579.90 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.85 579.90 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.00 579.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.88 579.90 Td (administrative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.68 579.90 Td (services ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 567.30 Td (subsidiaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.10 567.30 Td (currently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.53 567.30 Td (occupy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.37 567.30 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.54 567.30 Td (130,000 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.19 567.30 Td (square ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.12 567.30 Td (feet ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.38 567.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.07 567.30 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.51 567.30 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.06 567.30 Td (fice ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.32 567.30 Td (building ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.85 567.30 Td (located ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.69 567.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.38 567.30 Td (New ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 534.36 567.30 Td (Y) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 540.89 567.30 Td (ork, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 554.70 Td (New ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.35 554.70 Td (Y) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.88 554.70 Td (ork ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.84 554.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.97 554.70 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.60 554.70 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.80 554.70 Td (hold ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.44 554.70 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.31 554.70 Td (lease ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.25 554.70 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.87 554.70 Td (193,000 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.96 554.70 Td (square ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.32 554.70 Td (feet. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 433.43 554.70 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.72 554.70 Td (remaining ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.25 554.70 Td (63,000 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.09 554.70 Td (square ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 542.10 Td (feet ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.36 542.10 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.98 542.10 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.43 542.10 Td (subleased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.88 542.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.67 542.10 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.95 542.10 Td (third ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.41 542.10 Td (party;) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 90.00 529.50 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 529.50 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.07 529.50 Td (estern ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.19 529.50 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.15 529.50 Td (Management�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.88 529.50 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.59 529.50 Td (headquarters ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.86 529.50 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 300.49 529.50 Td (housed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.86 529.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.66 529.50 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.19 529.50 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.75 529.50 Td (fice ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.11 529.50 Td (building ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.74 529.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.54 529.50 Td (Pasadena, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.86 529.50 Td (California ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.05 529.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.85 529.50 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 516.90 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.39 516.90 Td (occupy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.85 516.90 Td (approximately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.65 516.90 Td (190,000 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.92 516.90 Td (square ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.47 516.90 Td (feet ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.35 516.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.65 516.90 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.04 516.90 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.84 516.90 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.23 516.90 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.19 516.90 Td (seeking ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.41 516.90 Td (tenants ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.30 516.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.61 516.90 Td (sublease ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.33 516.90 Td (9,300 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.10 516.90 Td (square ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 504.30 Td (feet ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.36 504.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.73 504.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.19 504.30 Td (space; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.05 504.30 Td (and) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 90.00 491.70 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 491.70 Td (our distribution and administrative services subsidiaries occupy approximately 79,000 square feet in an ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 479.10 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.56 479.10 Td (fice building located in Stamford, Connecticut in which we hold under lease approximately 137,000 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.00 466.50 Td (square feet. 58,000 square feet has been subleased to a third party) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.85 466.50 Td (. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 441.25 Td (See ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.64 441.25 Td (Note ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.04 441.25 Td (8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 135.27 441.25 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.00 441.25 Td (Notes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.48 441.25 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.63 441.25 Td (Consolidated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.02 441.25 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.08 441.25 Td (Statements ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.14 441.25 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.29 441.25 Td (Item ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.52 441.25 Td (8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.75 441.25 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.48 441.25 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.63 441.25 Td (Report ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.19 441.25 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.42 441.25 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.06 441.25 Td (discussion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.80 441.25 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.53 441.25 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.51 441.25 Td (lease ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 428.65 Td (obligations.) Tj ET Q
BT /F2 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 49.50 403.45 Td (ITEM ) Tj ET Q
q 0 0 0 rg BT 80.13 403.45 Td (3. ) Tj ET Q
q 0 0 0 rg BT 90.63 403.45 Td ( ) Tj ET Q
q 0 0 0 rg BT 93.25 403.45 Td (LEGAL) Tj ET Q
q 0 0 0 rg BT 129.44 403.45 Td ( ) Tj ET Q
q 0 0 0 rg BT 132.06 403.45 Td (PROCEEDINGS.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 378.25 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 378.25 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.99 378.25 Td (current ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.87 378.25 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.19 378.25 Td (former ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.91 378.25 Td (subsidiaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.65 378.25 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.63 378.25 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.60 378.25 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.59 378.25 Td (subject ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.48 378.25 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.39 378.25 Td (customer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.03 378.25 Td (complaints ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.27 378.25 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.58 378.25 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.56 378.25 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.63 378.25 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.61 378.25 Td (named ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 553.75 378.25 Td (as ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 365.65 Td (defendants ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.62 365.65 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.42 365.65 Td (various ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.96 365.65 Td (legal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.00 365.65 Td (actions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 197.37 365.65 Td (arising ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.59 365.65 Td (primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.29 365.65 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.34 365.65 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.38 365.65 Td (management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.28 365.65 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.57 365.65 Td (brokerage ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.18 365.65 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.97 365.65 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.68 365.65 Td (banking ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 353.05 Td (activities, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.10 353.05 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.83 353.05 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.46 353.05 Td (class ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.94 353.05 Td (actions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.38 353.05 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.11 353.05 Td (primarily ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.25 353.05 Td (allege ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.39 353.05 Td (violations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.88 353.05 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.69 353.05 Td (securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.41 353.05 Td (laws ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.73 353.05 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.96 353.05 Td (seek ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.69 353.05 Td (unspecified ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.15 353.05 Td (damages, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 340.45 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.36 340.45 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.88 340.45 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.99 340.45 Td (substantial. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 168.73 340.45 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.67 340.45 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.70 340.45 Td (normal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.64 340.45 Td (course ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.24 340.45 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.19 340.45 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.38 340.45 Td (business, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.79 340.45 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.99 340.45 Td (current ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.92 340.45 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.27 340.45 Td (former ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.04 340.45 Td (subsidiaries ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.82 340.45 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.84 340.45 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.95 340.45 Td (received ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 327.85 Td (subpoenas ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.06 327.85 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 114.04 327.85 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.68 327.85 Td (currently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.40 327.85 Td (involved ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.97 327.85 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.95 327.85 Td (governmental ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.50 327.85 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.49 327.85 Td (self-regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.11 327.85 Td (agency ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.66 327.85 Td (inquiries, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.85 327.85 Td (investigations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.01 327.85 Td (and, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.61 327.85 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.84 327.85 Td (time ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 315.25 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.88 315.25 Td (time, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.37 315.25 Td (proceedings. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.71 315.25 Td (While ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.58 315.25 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.61 315.25 Td (ultimate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.23 315.25 Td (resolution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.44 315.25 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.39 315.25 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.76 315.25 Td (threatened ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 346.70 315.25 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.65 315.25 Td (pending ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.69 315.25 Td (litigation, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.44 315.25 Td (regulatory ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.80 315.25 Td (investigations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.34 315.25 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 302.65 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.62 302.65 Td (matters ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.07 302.65 Td (cannot ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.61 302.65 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.06 302.65 Td (currently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.51 302.65 Td (determined, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.91 302.65 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.62 302.65 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.00 302.65 Td (opinion ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.63 302.65 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.92 302.65 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.46 302.65 Td (management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.27 302.65 Td (after ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.05 302.65 Td (consultation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.93 302.65 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.14 302.65 Td (legal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.09 302.65 Td (counsel, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.34 302.65 Td (due ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 290.05 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.09 290.05 Td (part ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.84 290.05 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.43 290.05 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.68 290.05 Td (preliminary ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.09 290.05 Td (nature ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.75 290.05 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.92 290.05 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.90 290.05 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.07 290.05 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.07 290.05 Td (matters, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.03 290.05 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.69 290.05 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.94 290.05 Td (currently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.26 290.05 Td (unable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.67 290.05 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.26 290.05 Td (estimate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.67 290.05 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.92 290.05 Td (amount ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.84 290.05 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.01 290.05 Td (range ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 553.75 290.05 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 277.45 Td (potential ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.45 277.45 Td (losses ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.76 277.45 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.38 277.45 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.17 277.45 Td (matters, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.91 277.45 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.29 277.45 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.50 277.45 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.44 277.45 Td (condition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.94 277.45 Td (results ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.57 277.45 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.53 277.45 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.48 277.45 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.86 277.45 Td (cash ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.73 277.45 Td (flows ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.28 277.45 Td (could ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.82 277.45 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.94 277.45 Td (materially ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 264.85 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 57.47 264.85 Td (fected ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.46 264.85 Td (during ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.22 264.85 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.23 264.85 Td (period ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.41 264.85 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.92 264.85 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.93 264.85 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.94 264.85 Td (matter ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.11 264.85 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.46 264.85 Td (ultimately ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.38 264.85 Td (resolved. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.93 264.85 Td (See ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.44 264.85 Td (Note ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.20 264.85 Td (8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.80 264.85 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.89 264.85 Td (Notes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.74 264.85 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.25 264.85 Td (Consolidated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.01 264.85 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.44 264.85 Td (Statements ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 252.25 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.29 252.25 Td (Item ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 82.16 252.25 Td (8 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.03 252.25 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.41 252.25 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.20 252.25 Td (Report.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 227.05 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 227.05 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.40 227.05 Td (expect ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.96 227.05 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.87 227.05 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.28 227.05 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.78 227.05 Td (shortly�complete ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.23 227.05 Td (negotiations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.72 227.05 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.56 227.05 Td (both ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.39 227.05 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.38 227.05 Td (U.S. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.22 227.05 Td (Department ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.95 227.05 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.86 227.05 Td (Justice ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.61 227.05 Td (\(�DOJ�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.34 227.05 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.67 227.05 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 214.45 Td (SEC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.47 214.45 Td (staf) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.44 214.45 Td (f ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.64 214.45 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.52 214.45 Td (resolve ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.55 214.45 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.92 214.45 Td (Foreign ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.30 214.45 Td (Corrupt ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.67 214.45 Td (Practices ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.68 214.45 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 272.55 214.45 Td (investigation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.51 214.45 Td (concerning ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.86 214.45 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.40 214.45 Td (activities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.02 214.45 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.47 214.45 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.18 214.45 Td (former ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.46 214.45 Td (Permal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.91 214.45 Td (business ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 201.85 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.35 201.85 Td (connection ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.10 201.85 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.45 201.85 Td (managing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.53 201.85 Td (assets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.71 201.85 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.14 201.85 Td (Libyan ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.56 201.85 Td (governmental ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.98 201.85 Td (entities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.98 201.85 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.83 201.85 Td (structures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.34 201.85 Td (established ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.67 201.85 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.86 201.85 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 477.20 201.85 Td (third-party ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.78 201.85 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 189.25 Td (institution.� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.77 189.25 Td (Those ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.05 189.25 Td (investments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.83 189.25 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.85 189.25 Td (made ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.21 189.25 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.00 189.25 Td (calendar ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.17 189.25 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.94 189.25 Td (2005 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.56 189.25 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.35 189.25 Td (2007 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.97 189.25 Td (and�all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.87 189.25 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.89 189.25 Td (terminated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.40 189.25 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.52 189.25 Td (later ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.79 189.25 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.49 189.25 Td (2012.� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 546.17 189.25 Td (The ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 176.65 Td (matter ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 78.61 176.65 Td (does ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.14 176.65 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.85 176.65 Td (relate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.45 176.65 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.91 176.65 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.35 176.65 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.39 176.65 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.67 176.65 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.71 176.65 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.99 176.65 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.96 176.65 Td (filiates�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.25 176.65 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.54 176.65 Td (current ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.56 176.65 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.44 176.65 Td (activities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.63 176.65 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.67 176.65 Td (client ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.28 176.65 Td (relationships ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.23 176.65 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.67 176.65 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 501.96 176.65 Td (focused ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 536.90 176.65 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.69 176.65 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 164.05 Td (actions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.69 164.05 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.89 164.05 Td (former ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.90 164.05 Td (employees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.26 164.05 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.45 164.05 Td (Permal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.65 164.05 Td (who ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.18 164.05 Td (left ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.62 164.05 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.81 164.05 Td (firm ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.34 164.05 Td (four ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.28 164.05 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.48 164.05 Td (more ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.50 164.05 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.11 164.05 Td (ago.� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.97 164.05 Td (Based ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.08 164.05 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.03 164.05 Td (discussions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.32 164.05 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.93 164.05 Td (date, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.50 164.05 Td (we ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.19 164.05 Td (believe ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 151.45 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.68 151.45 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.27 151.45 Td (resolution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.70 151.45 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.88 151.45 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.48 151.45 Td (matter ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.73 151.45 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.50 151.45 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.35 151.45 Td (result ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.11 151.45 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.71 151.45 Td (restrictions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.79 151.45 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.73 151.45 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.15 151.45 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.33 151.45 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.76 151.45 Td (af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.73 151.45 Td (filiates�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.02 151.45 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.45 151.45 Td (ongoing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.30 151.45 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.32 151.45 Td (activities. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.28 151.45 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.54 151.45 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.61 151.45 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.70 151.45 Td (have ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 138.85 Td (accrued ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.12 138.85 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.77 138.85 Td ($67 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.51 138.85 Td (million ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.83 138.85 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.71 138.85 Td (ge ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.60 138.85 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.76 138.85 Td (earnings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.31 138.85 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.54 138.85 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.70 138.85 Td (matter ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.50 138.85 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.66 138.85 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.47 138.85 Td (year ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.52 138.85 Td (ended ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.58 138.85 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.97 138.85 Td (31, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.08 138.85 Td (2018, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.69 138.85 Td (representing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.57 138.85 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.55 138.85 Td (current ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.27 138.85 Td (estimated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 126.25 Td (liability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.85 126.25 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.78 126.25 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.30 126.25 Td (settlement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.14 126.25 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.58 126.25 Td (the ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.70 590.70 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.12 590.70 Td (2005 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.12 590.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.30 590.70 Td (2010, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.93 590.70 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.94 590.70 Td (served ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.35 590.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.53 590.70 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.20 590.70 Td (variety ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.36 590.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.11 590.70 Td (sales ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 578.10 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.77 578.10 Td (roles ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.81 578.10 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.67 578.10 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.87 578.10 Td (Mason, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.71 578.10 Td (including, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.62 578.10 Td (most ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.67 578.10 Td (recently) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.80 578.10 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.05 578.10 Td (Co-Head ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.58 578.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.95 578.10 Td (US ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.00 578.10 Td (Sales.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 552.90 Td (Thomas ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.86 552.90 Td (K. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.60 552.90 Td (Hoops, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.18 552.90 Td (age ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 180.29 552.90 Td (53, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.95 552.90 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.81 552.90 Td (appointed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.75 552.90 Td (Executive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.16 552.90 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.11 552.90 Td (ice ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.88 552.90 Td (President ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.50 552.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.19 552.90 Td (Head ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 400.88 552.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.16 552.90 Td (Business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.03 552.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.73 552.90 Td (Product ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.93 552.90 Td (Development ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.59 540.30 Td (January ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.16 540.30 Td (2014. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.70 540.30 Td (From ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.38 540.30 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.70 540.30 Td (2000 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.62 540.30 Td (through ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.20 540.30 Td (January ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.77 540.30 Td (2014, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.32 540.30 Td (Mr) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.57 540.30 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.12 540.30 Td (Hoops ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.46 540.30 Td (held ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 357.45 540.30 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.03 540.30 Td (variety ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.10 540.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.77 540.30 Td (positions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.61 540.30 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.97 540.30 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.04 540.30 Td (ells ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.54 540.30 Td (Far) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.35 540.30 Td (go ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.77 540.30 Td (Corporation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 527.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.03 527.70 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.32 527.70 Td (predecessors, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.95 527.70 Td (most ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.74 527.70 Td (recently ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.92 527.70 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.04 527.70 Td (Head ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.56 527.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.93 527.70 Td (Af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.82 527.70 Td (filiated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.92 527.70 Td (Managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.69 527.70 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.40 527.70 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.47 527.70 Td (ells ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.41 527.70 Td (Far) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.22 527.70 Td (go ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.35 527.70 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 431.05 527.70 Td (Management. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.85 527.70 Td (Prior ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.22 527.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 527.76 527.70 Td (joining ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 515.10 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 58.57 515.10 Td (ells ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.81 515.10 Td (Far) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.62 515.10 Td (go ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 102.78 515.10 Td (/ ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.17 515.10 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.24 515.10 Td (achovia, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.17 515.10 Td (he ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.75 515.10 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.74 515.10 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.06 515.10 Td (Managing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.29 515.10 Td (Director ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.94 515.10 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.18 515.10 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.50 515.10 Td (boutique ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.91 515.10 Td (investment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.64 515.10 Td (bank ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.72 515.10 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.04 515.10 Td (specialized ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.34 515.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 494.17 515.10 Td (M&A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.68 515.10 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 521.34 515.10 Td (advisory ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 502.50 Td (services ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.30 502.50 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.52 502.50 Td (emer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 122.32 502.50 Td (ging ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 143.97 502.50 Td (growth ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.70 502.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.84 502.50 Td (middle-market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.63 502.50 Td (companies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.52 502.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.66 502.50 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.88 502.50 Td (owners. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.82 502.50 Td (He ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 399.04 502.50 Td (began ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.10 502.50 Td (his ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.33 502.50 Td (career ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.95 502.50 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.68 502.50 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.32 502.50 Td (credit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.20 502.50 Td (analyst ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.93 502.50 Td (at ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 489.90 Td (First ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.38 489.90 Td (Union ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.26 489.90 Td (National ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.04 489.90 Td (Bank ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.83 489.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.62 489.90 Td (Charlotte.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 464.70 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.18 464.70 Td (erence ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.31 464.70 Td (Johnson, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.09 464.70 Td (age ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.40 464.70 Td (45, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.26 464.70 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.33 464.70 Td (appointed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.47 464.70 Td (Head ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.36 464.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.84 464.70 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.16 464.70 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 378.65 464.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.55 464.70 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.69 464.70 Td (2013 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.43 464.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.32 464.70 Td (elected ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.79 464.70 Td (Executive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.31 464.70 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 545.26 464.70 Td (ice ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 452.10 Td (President ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.96 452.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.98 452.10 Td (April ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.52 452.10 Td (2013. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.53 452.10 Td (Since ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.23 452.10 Td (October ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.43 452.10 Td (2012, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.44 452.10 Td (he ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.73 452.10 Td (had ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.26 452.10 Td (been ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.46 452.10 Td (serving ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.75 452.10 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 335.88 452.10 Td (interim ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.59 452.10 Td (Head ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.12 452.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.25 452.10 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.20 452.10 Td (Distribution, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.96 452.10 Td (overseeing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 538.82 452.10 Td (U.S. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 439.50 Td (Distribution, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.85 439.50 Td (International ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.48 439.50 Td (Distribution, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.83 439.50 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.38 439.50 Td (Product ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.03 439.50 Td (Development, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.19 439.50 Td (Marketing, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.53 439.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.01 439.50 Td (Administration ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.57 439.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.71 439.50 Td (Operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.76 439.50 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 426.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.78 426.90 Td (division. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.70 426.90 Td (Prior ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.15 426.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.77 426.90 Td (that, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.59 426.90 Td (Mr) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.85 426.90 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.92 426.90 Td (Johnson ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 212.80 426.90 Td (headed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.98 426.90 Td (International ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 301.08 426.90 Td (Distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.28 426.90 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.31 426.90 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.34 426.90 Td (Mason. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.00 426.90 Td (Mr) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 434.26 426.90 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.33 426.90 Td (Johnson ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.21 426.90 Td (joined ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.91 426.90 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.93 426.90 Td (Mason ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.29 414.30 Td (December ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.06 414.30 Td (2005 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.68 414.30 Td (from ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.72 414.30 Td (Citigroup ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.02 414.30 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.98 414.30 Td (Management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.41 414.30 Td (following ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.87 414.30 Td (its ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.42 414.30 Td (acquisition ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.12 414.30 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.25 414.30 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 420.44 414.30 Td (Mason.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 389.10 Td (John ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.89 389.10 Td (Kenney) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.86 389.10 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.04 389.10 Td (age ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.16 389.10 Td (53, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.84 389.10 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.72 389.10 Td (appointed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.68 389.10 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.81 389.10 Td (Head ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.51 389.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.25 389.10 Td (Af) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.14 389.10 Td (filiate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.18 389.10 Td (Strategic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.05 389.10 Td (Initiatives ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.59 389.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.75 389.10 Td (April ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 464.47 389.10 Td (2015. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 490.64 389.10 Td (Mr) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.90 389.10 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 508.07 389.10 Td (Kenney ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.28 389.10 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 552.84 389.10 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 376.50 Td (member ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.24 376.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.33 376.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.50 376.50 Td (board ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.75 376.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.84 376.50 Td (directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.92 376.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.00 376.50 Td (each ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.58 376.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.66 376.50 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.58 376.50 Td (Mason�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.08 376.50 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 305.51 376.50 Td (asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.26 376.50 Td (managers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 372.84 376.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.34 376.50 Td (provides ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.84 376.50 Td (ongoing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.60 376.50 Td (strategic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.51 376.50 Td (support ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.35 376.50 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 363.90 Td (guidance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.43 363.90 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.96 363.90 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.58 363.90 Td (development ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.84 363.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 218.03 363.90 Td (operating ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 260.72 363.90 Td (issues. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.46 363.90 Td (From ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.24 363.90 Td (2002 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.27 363.90 Td (until ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 363.56 363.90 Td (2005, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.21 363.90 Td (Mr) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.47 363.90 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.12 363.90 Td (Kenney ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.81 363.90 Td (served ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.24 363.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 485.44 363.90 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.13 363.90 Td (variety ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 525.31 363.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.09 363.90 Td (sales ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.12 351.30 Td (sales ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.99 351.30 Td (management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.09 351.30 Td (roles ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.96 351.30 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.99 351.30 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.02 351.30 Td (Mason, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.69 351.30 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 286.81 351.30 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.01 351.30 Td (Managing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.05 351.30 Td (Director) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.61 351.30 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.69 351.30 Td (Co-National ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 441.05 351.30 Td (Sales ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.68 351.30 Td (Manager ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.45 351.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.65 351.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.94 351.30 Td (Legg ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 338.70 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.42 338.70 Td (Fixed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.67 338.70 Td (Income ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 140.49 338.70 Td (Capital ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.15 338.70 Td (Markets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.89 338.70 Td (Group, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.68 338.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.84 338.70 Td (capital ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.16 338.70 Td (markets ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.73 338.70 Td (business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.66 338.70 Td (sold ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.49 338.70 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.33 338.70 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.24 338.70 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.15 338.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.66 338.70 Td (2005. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.61 338.70 Td (He ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.19 338.70 Td (rejoined ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.93 338.70 Td (Legg ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 326.10 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.99 326.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.07 326.10 Td (201) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.43 326.10 Td (1, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.21 326.10 Td (serving ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.03 326.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.11 326.10 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.67 326.10 Td (variety ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.74 326.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 214.39 326.10 Td (roles, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.33 326.10 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.91 326.10 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.56 326.10 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.13 326.10 Td (Managing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.61 326.10 Td (Director ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.50 326.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.58 326.10 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.06 326.10 Td (Mason�) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.56 326.10 Td (s ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.56 326.10 Td (Corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.45 326.10 Td (Strategy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.35 326.10 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 313.50 Td (Business ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.47 313.50 Td (Development ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.66 313.50 Td (Group ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.11 313.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 195.90 313.50 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.27 313.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.72 313.50 Td (chief ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.33 313.50 Td (executive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.19 313.50 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.74 313.50 Td (ficer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.60 313.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.39 313.50 Td (head ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.83 313.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 371.20 313.50 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.40 313.50 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.61 313.50 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.24 313.50 Td (Asset ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.62 313.50 Td (Allocation.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 288.30 Td (Patricia ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.45 288.30 Td (Lattin, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.03 288.30 Td (age ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.48 288.30 Td (53, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.48 288.30 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.69 288.30 Td (appointed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 253.97 288.30 Td (Head ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.00 288.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.63 288.30 Td (Global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.08 288.30 Td (Human ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.87 288.30 Td (Resources ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 406.90 288.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 418.95 288.30 Td (January ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.48 288.30 Td (2009 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 480.36 288.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.40 288.30 Td (Chief ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.60 288.30 Td (Human ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 275.70 Td (Resources ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.11 275.70 Td (Of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.00 275.70 Td (ficer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.70 275.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.32 275.70 Td (June ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 164.03 275.70 Td (2017. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.11 275.70 Td (Ms. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.62 275.70 Td (Lattin ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.16 275.70 Td (oversees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.77 275.70 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.80 275.70 Td (Mason's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 341.82 275.70 Td (Human ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 376.19 275.70 Td (Resources ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.81 275.70 Td (department ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 473.50 275.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.12 275.70 Td (leads ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.15 275.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 533.44 275.70 Td (firm's ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 263.10 Td (ef) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 57.47 263.10 Td (forts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 79.99 263.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.43 263.10 Td (Corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.69 263.10 Td (Social ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 166.20 263.10 Td (Responsibility ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.15 263.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.58 263.10 Td (Philanthropy) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.15 263.10 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.05 263.10 Td (Ms ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 324.74 263.10 Td (Lattin ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.09 263.10 Td (joined ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.61 263.10 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.46 263.10 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.31 263.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.75 263.10 Td (1997 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.03 263.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.46 263.10 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.73 263.10 Td (served ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.41 263.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 552.85 263.10 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 250.50 Td (variety ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.64 250.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.37 250.50 Td (positions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 134.28 250.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.44 250.50 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.00 250.50 Td (Mason's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.55 250.50 Td (Human ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.44 250.50 Td (Resources ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.59 250.50 Td (department, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.43 250.50 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.08 250.50 Td (Head ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 408.22 250.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.95 250.50 Td (Employee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.51 250.50 Td (Relations, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.78 250.50 Td (Director ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.75 250.50 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 237.90 Td (Human ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 83.04 237.90 Td (Resources ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.24 237.90 Td (Administration ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.44 237.90 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.73 237.90 Td (included ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.51 237.90 Td (Director ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.12 237.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 310.49 237.90 Td (Benefits ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.11 237.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.89 237.90 Td (Director ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.50 237.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.87 237.90 Td (Employment.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 212.70 Td (Thomas ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.27 212.70 Td (C. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.84 212.70 Td (Merchant, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.64 212.70 Td (age ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.15 212.70 Td (50, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.21 212.70 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 227.48 212.70 Td (appointed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.83 212.70 Td (General ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.00 212.70 Td (Counsel ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.36 212.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 352.47 212.70 Td (March ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 381.81 212.70 Td (2013 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 404.75 212.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 421.85 212.70 Td (elected ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.52 212.70 Td (Executive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.30 212.70 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.25 212.70 Td (ice ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 518.43 212.70 Td (President ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 200.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.96 200.10 Td (April ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.07 200.10 Td (2013. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.64 200.10 Td (Mr) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.89 200.10 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.46 200.10 Td (Merchant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 172.63 200.10 Td (continues ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.82 200.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 226.93 200.10 Td (serve ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.03 200.10 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.72 200.10 Td (Corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.64 200.10 Td (Secretary) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.61 200.10 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 353.17 200.10 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.78 200.10 Td (position ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.56 200.10 Td (he ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.41 200.10 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.35 200.10 Td (held ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.37 200.10 Td (since ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.89 200.10 Td (2008. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.46 200.10 Td (Mr) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.71 200.10 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.28 200.10 Td (Merchant ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 187.50 Td (oversees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.98 187.50 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.88 187.50 Td (Mason's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.77 187.50 Td (legal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.50 187.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.99 187.50 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.72 187.50 Td (departments. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.99 187.50 Td (Mr) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.24 187.50 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 313.19 187.50 Td (Merchant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.75 187.50 Td (previously ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.41 187.50 Td (served ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.14 187.50 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 443.22 187.50 Td (Corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.53 187.50 Td (General ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.08 187.50 Td (Counsel ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 174.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.29 174.90 Td (Deputy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.82 174.90 Td (General ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.68 174.90 Td (Counsel. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.34 174.90 Td (Mr) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.60 174.90 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.85 174.90 Td (Merchant ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.71 174.90 Td (joined ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.58 174.90 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 289.78 174.90 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.98 174.90 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.78 174.90 Td (Associate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.22 174.90 Td (General ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.08 174.90 Td (Counsel ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 448.12 174.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.91 174.90 Td (1998.) Tj ET Q
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BT /F1 10.00 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 126.48 729.15 Td (201) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.44 729.15 Td (firm. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.66 729.15 Td (From ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.94 729.15 Td (July ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.97 729.15 Td (2007 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.49 729.15 Td (through ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.75 729.15 Td (. ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.98 729.15 Td (served ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.90 716.55 Td (Of) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 64.86 703.95 Td (financial ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 691.35 Td (than ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 71.67 691.35 Td (25 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.27 691.35 Td (years ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.52 691.35 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.19 691.35 Td (Deloitte ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.11 691.35 Td (& ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.07 691.35 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.75 691.35 Td (ouche, ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.05 691.35 Td (, ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 349.25 691.35 Td (recently ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 446.66 691.35 Td (Partner ) Tj ET Q
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.92 691.35 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.84 691.35 Td (Investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 678.75 Td (Management ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.94 678.75 Td (practice.) Tj ET Q
BT /F1 10.50 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.86 653.55 Td (Schliessler) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.93 653.55 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.92 653.55 Td (age ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.86 653.55 Td (59, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.35 653.55 Td (was ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 222.05 653.55 Td (appointed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.82 653.55 Td (Chief ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.77 653.55 Td (Administrative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.13 653.55 Td (Of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.02 653.55 Td (ficer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.62 653.55 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.14 653.55 Td (elected ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.24 653.55 Td (Executive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.34 653.55 Td (V) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.29 653.55 Td (ice ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.90 653.55 Td (President ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 554.34 653.55 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 640.95 Td (April ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 73.94 640.95 Td (2015. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 99.84 640.95 Td (Ms. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.17 640.95 Td (Schliessler ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 165.94 640.95 Td (oversees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 204.36 640.95 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.22 640.95 Td (Mason's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.05 640.95 Td (technology) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 311.03 640.95 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.93 640.95 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.45 640.95 Td (data ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.22 640.95 Td (solutions, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.04 640.95 Td (real ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 425.06 640.95 Td (estate, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.86 640.95 Td (risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.89 640.95 Td (management, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.43 640.95 Td (internal ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 628.35 Td (audit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 72.33 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 89.33 628.35 Td (global ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.42 628.35 Td (fund ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.50 628.35 Td (operations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 184.08 628.35 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.08 628.35 Td (strategic ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.48 628.35 Td (project ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 269.47 628.35 Td (management. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.58 628.35 Td (Prior ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.42 628.35 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.42 628.35 Td (her ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.67 628.35 Td (appointment ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.00 628.35 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.58 628.35 Td (Chief ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.34 628.35 Td (Administrative ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.17 628.35 Td (Of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.06 628.35 Td (ficer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 559.88 628.35 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 615.75 Td (Ms. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 66.98 615.75 Td (Schliessler ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 312.50 557.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 342.35 557.62 Td (47.13) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 376.50 557.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 406.35 557.62 Td (42.43) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.50 557.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.35 557.62 Td (42.08) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 504.50 557.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 557.62 Td (40.82) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 64.50 543.62 Td (Low) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 342.35 543.62 Td (37.05) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 406.35 543.62 Td (37.15) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.35 543.62 Td (36.24) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 543.62 Td (35.34) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 52.50 529.79 Td (Fiscal ) Tj ET Q
q 0 0 0 rg BT 80.98 529.79 Td (Y) Tj ET Q
q 0 0 0 rg BT 87.40 529.79 Td (ear) Tj ET Q
q 0 0 0 rg BT 101.78 529.79 Td ( 2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 516.62 Td (Cash dividend declared per share) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 312.50 516.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 347.60 516.62 Td (0.22) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 376.50 516.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 411.60 516.62 Td (0.22) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.50 516.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 475.60 516.62 Td (0.22) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 504.50 516.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.60 516.62 Td (0.22) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 502.62 Td (Stock price range:) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 64.50 488.62 Td (High) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 312.50 488.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 342.35 488.62 Td (38.99) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 376.50 488.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 406.35 488.62 Td (34.35) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.50 488.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.35 488.62 Td (35.09) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 504.50 488.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 488.62 Td (35.83) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 64.50 474.62 Td (Low) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 342.35 474.62 Td (30.22) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 406.35 474.62 Td (28.10) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.35 474.62 Td (27.62) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 474.62 Td (27.54) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 446.30 Td (W) Tj ET Q
q 0 0 0 rg BT 58.57 446.30 Td (e ) Tj ET Q
q 0 0 0 rg BT 65.31 446.30 Td (expect ) Tj ET Q
q 0 0 0 rg BT 94.80 446.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 105.05 446.30 Td (continue ) Tj ET Q
q 0 0 0 rg BT 143.29 446.30 Td (paying ) Tj ET Q
q 0 0 0 rg BT 173.95 446.30 Td (cash ) Tj ET Q
q 0 0 0 rg BT 194.69 446.30 Td (dividends. ) Tj ET Q
q 0 0 0 rg BT 240.23 446.30 Td (However) Tj ET Q
q 0 0 0 rg BT 278.29 446.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 283.00 446.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 297.91 446.30 Td (declaration ) Tj ET Q
q 0 0 0 rg BT 346.63 446.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 357.46 446.30 Td (dividends ) Tj ET Q
q 0 0 0 rg BT 400.38 446.30 Td (is ) Tj ET Q
q 0 0 0 rg BT 409.47 446.30 Td (subject ) Tj ET Q
q 0 0 0 rg BT 441.29 446.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 451.54 446.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 466.45 446.30 Td (discretion ) Tj ET Q
q 0 0 0 rg BT 509.94 446.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 520.77 446.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 536.85 446.30 Td (Board ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 433.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.33 433.70 Td (Directors. ) Tj ET Q
q 0 0 0 rg BT 106.11 433.70 Td (In ) Tj ET Q
q 0 0 0 rg BT 117.94 433.70 Td (determining ) Tj ET Q
q 0 0 0 rg BT 171.76 433.70 Td (whether ) Tj ET Q
q 0 0 0 rg BT 208.66 433.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 219.91 433.70 Td (declare ) Tj ET Q
q 0 0 0 rg BT 253.31 433.70 Td (dividends, ) Tj ET Q
q 0 0 0 rg BT 299.85 433.70 Td (or ) Tj ET Q
q 0 0 0 rg BT 311.68 433.70 Td (how ) Tj ET Q
q 0 0 0 rg BT 332.84 433.70 Td (much ) Tj ET Q
q 0 0 0 rg BT 359.26 433.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 370.51 433.70 Td (declare ) Tj ET Q
q 0 0 0 rg BT 403.90 433.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 415.15 433.70 Td (dividends, ) Tj ET Q
q 0 0 0 rg BT 461.69 433.70 Td (our ) Tj ET Q
q 0 0 0 rg BT 478.77 433.70 Td (Board ) Tj ET Q
q 0 0 0 rg BT 507.52 433.70 Td (will ) Tj ET Q
q 0 0 0 rg BT 526.94 433.70 Td (consider ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 421.10 Td (factors ) Tj ET Q
q 0 0 0 rg BT 80.85 421.10 Td (it ) Tj ET Q
q 0 0 0 rg BT 89.46 421.10 Td (deems ) Tj ET Q
q 0 0 0 rg BT 119.06 421.10 Td (relevant, ) Tj ET Q
q 0 0 0 rg BT 158.28 421.10 Td (which ) Tj ET Q
q 0 0 0 rg BT 186.71 421.10 Td (may ) Tj ET Q
q 0 0 0 rg BT 207.57 421.10 Td (include ) Tj ET Q
q 0 0 0 rg BT 241.25 421.10 Td (our ) Tj ET Q
q 0 0 0 rg BT 258.03 421.10 Td (results ) Tj ET Q
q 0 0 0 rg BT 288.22 421.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 299.74 421.10 Td (operations ) Tj ET Q
q 0 0 0 rg BT 346.26 421.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 364.20 421.10 Td (financial ) Tj ET Q
q 0 0 0 rg BT 403.71 421.10 Td (condition, ) Tj ET Q
q 0 0 0 rg BT 448.77 421.10 Td (our ) Tj ET Q
q 0 0 0 rg BT 465.55 421.10 Td (financial ) Tj ET Q
q 0 0 0 rg BT 505.05 421.10 Td (requirements, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 408.50 Td (general ) Tj ET Q
q 0 0 0 rg BT 82.57 408.50 Td (business ) Tj ET Q
q 0 0 0 rg BT 120.33 408.50 Td (conditions ) Tj ET Q
q 0 0 0 rg BT 166.25 408.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 183.59 408.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 198.59 408.50 Td (availability ) Tj ET Q
q 0 0 0 rg BT 248.00 408.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 258.92 408.50 Td (funds ) Tj ET Q
q 0 0 0 rg BT 284.43 408.50 Td (from ) Tj ET Q
q 0 0 0 rg BT 307.01 408.50 Td (our ) Tj ET Q
q 0 0 0 rg BT 323.18 408.50 Td (subsidiaries, ) Tj ET Q
q 0 0 0 rg BT 377.56 408.50 Td (including ) Tj ET Q
q 0 0 0 rg BT 419.40 408.50 Td (all ) Tj ET Q
q 0 0 0 rg BT 432.07 408.50 Td (restrictions ) Tj ET Q
q 0 0 0 rg BT 480.90 408.50 Td (on ) Tj ET Q
q 0 0 0 rg BT 493.57 408.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 508.58 408.50 Td (ability ) Tj ET Q
q 0 0 0 rg BT 537.58 408.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 548.50 408.50 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 395.90 Td (subsidiaries ) Tj ET Q
q 0 0 0 rg BT 101.17 395.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 111.43 395.90 Td (provide ) Tj ET Q
q 0 0 0 rg BT 145.59 395.90 Td (funds ) Tj ET Q
q 0 0 0 rg BT 171.01 395.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 181.27 395.90 Td (us. ) Tj ET Q
q 0 0 0 rg BT 195.32 395.90 Td (On ) Tj ET Q
q 0 0 0 rg BT 209.78 395.90 Td (April ) Tj ET Q
q 0 0 0 rg BT 234.04 395.90 Td (24, ) Tj ET Q
q 0 0 0 rg BT 249.25 395.90 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 274.96 395.90 Td (our ) Tj ET Q
q 0 0 0 rg BT 291.05 395.90 Td (Board ) Tj ET Q
q 0 0 0 rg BT 318.80 395.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 329.64 395.90 Td (Directors ) Tj ET Q
q 0 0 0 rg BT 370.79 395.90 Td (declared ) Tj ET Q
q 0 0 0 rg BT 408.44 395.90 Td (a ) Tj ET Q
q 0 0 0 rg BT 415.19 395.90 Td (regular) Tj ET Q
q 0 0 0 rg BT 444.50 395.90 Td (, ) Tj ET Q
q 0 0 0 rg BT 449.22 395.90 Td (quarterly ) Tj ET Q
q 0 0 0 rg BT 489.20 395.90 Td (dividend ) Tj ET Q
q 0 0 0 rg BT 528.04 395.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 538.88 395.90 Td ($0.34 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 383.30 Td (per ) Tj ET Q
q 0 0 0 rg BT 65.53 383.30 Td (share, ) Tj ET Q
q 0 0 0 rg BT 92.94 383.30 Td (increasing ) Tj ET Q
q 0 0 0 rg BT 138.71 383.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 154.16 383.30 Td (regular) Tj ET Q
q 0 0 0 rg BT 183.48 383.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 188.73 383.30 Td (quarterly ) Tj ET Q
q 0 0 0 rg BT 229.25 383.30 Td (dividend ) Tj ET Q
q 0 0 0 rg BT 268.62 383.30 Td (paid ) Tj ET Q
q 0 0 0 rg BT 289.32 383.30 Td (on ) Tj ET Q
q 0 0 0 rg BT 302.45 383.30 Td (shares ) Tj ET Q
q 0 0 0 rg BT 331.31 383.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 342.69 383.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 359.31 383.30 Td (common ) Tj ET Q
q 0 0 0 rg BT 398.68 383.30 Td (stock ) Tj ET Q
q 0 0 0 rg BT 423.47 383.30 Td (by ) Tj ET Q
q 0 0 0 rg BT 436.59 383.30 Td (21%.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 358.70 Td (Pur) Tj ET Q
q 0 0 0 rg BT 66.22 358.70 Td (chases ) Tj ET Q
q 0 0 0 rg BT 97.43 358.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 108.81 358.70 Td (our) Tj ET Q
q 0 0 0 rg BT 124.37 358.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 126.99 358.70 Td (Common ) Tj ET Q
q 0 0 0 rg BT 171.03 358.70 Td (Stock) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 334.10 Td (The following table sets out information regarding our purchases of Legg Mason common stock during the quarter ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 321.50 Td (March 31, 2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 116.28 321.50 Td (:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 238.00 124.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
174.00 238.00 4.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
178.00 238.00 61.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
239.00 238.00 4.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
243.00 238.00 66.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
309.00 238.00 4.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
313.00 238.00 113.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
426.00 238.00 4.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
430.00 238.00 123.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 190.00 124.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
174.00 190.00 4.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
178.00 190.00 61.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
239.00 190.00 4.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
243.00 190.00 66.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
309.00 190.00 4.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
313.00 190.00 113.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
426.00 190.00 4.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
430.00 190.00 123.00 -24.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 238 m
174 238 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
178 238 m
239 238 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
243 238 m
309 238 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
313 238 m
426 238 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
430 238 m
553 238 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 166 m
174 166 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 152 m
174 152 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
178 166 m
239 166 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
178 152 m
239 152 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
243 166 m
309 166 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
243 152 m
309 152 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
313 166 m
426 166 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
313 152 m
426 152 l
s
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 96.60 242.79 Td (Period) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 201.85 285.79 Td (\(a\)         ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 196.50 275.29 Td (T) Tj ET Q
q 0 0 0 rg BT 202.54 275.29 Td (otal ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 184.60 264.79 Td (number) Tj ET Q
q 0 0 0 rg BT 220.00 264.79 Td ( of ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 193.80 254.29 Td (shar) Tj ET Q
q 0 0 0 rg BT 213.45 254.29 Td (es) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 180.75 242.79 Td (pur) Tj ET Q
q 0 0 0 rg BT 196.90 242.79 Td (chased) Tj ET Q
BT /F2 10.50 Tf ET
BT /F2 6.82 Tf ET
q 0 0 0 rg BT 227.24 247.55 Td (\(1\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 235.19 242.79 Td ( ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 269.05 286.79 Td (\(b\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 257.20 275.29 Td (A) Tj ET Q
q 0 0 0 rg BT 264.00 275.29 Td (verage ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 264.10 264.79 Td (price) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 256.75 253.29 Td (paid per) Tj ET Q
q 0 0 0 rg BT 294.19 253.29 Td ( ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 258.05 242.79 Td (shar) Tj ET Q
q 0 0 0 rg BT 277.70 242.79 Td (e ) Tj ET Q
BT /F2 10.50 Tf ET
BT /F2 6.82 Tf ET
q 0 0 0 rg BT 284.98 247.55 Td (\(2\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 363.15 300.29 Td (\(c\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 332.80 288.79 Td (T) Tj ET Q
q 0 0 0 rg BT 338.84 288.79 Td (otal number) Tj ET Q
q 0 0 0 rg BT 393.78 288.79 Td ( of) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 330.20 277.29 Td (shar) Tj ET Q
q 0 0 0 rg BT 349.85 277.29 Td (es pur) Tj ET Q
q 0 0 0 rg BT 377.37 277.29 Td (chased) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 347.70 265.79 Td (as part of) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 325.05 254.29 Td (publicly announced) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 323.75 242.79 Td (plans or) Tj ET Q
q 0 0 0 rg BT 360.03 242.79 Td ( pr) Tj ET Q
q 0 0 0 rg BT 372.96 242.79 Td (ograms) Tj ET Q
BT /F2 10.50 Tf ET
BT /F2 6.82 Tf ET
q 0 0 0 rg BT 406.21 247.55 Td (\(3\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 484.55 299.29 Td (\(d\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 433.40 287.79 Td (Appr) Tj ET Q
q 0 0 0 rg BT 457.13 287.79 Td (oximate dollar) Tj ET Q
q 0 0 0 rg BT 521.98 287.79 Td ( value ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 471.00 277.29 Td (that may) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 453.15 265.79 Td (yet be pur) Tj ET Q
q 0 0 0 rg BT 498.46 265.79 Td (chased) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 456.05 254.29 Td (under) Tj ET Q
q 0 0 0 rg BT 482.70 254.29 Td ( the plans) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 459.05 242.79 Td (or) Tj ET Q
q 0 0 0 rg BT 468.77 242.79 Td ( pr) Tj ET Q
q 0 0 0 rg BT 481.71 242.79 Td (ograms) Tj ET Q
BT /F2 10.50 Tf ET
BT /F2 6.82 Tf ET
q 0 0 0 rg BT 514.95 247.55 Td (\(3\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 228.22 Td (January�1, 2018 ) Tj ET Q
q 0 0 0 rg BT 121.81 228.22 Td (Through) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 61.50 217.72 Td (January�31, 2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 211.35 218.77 Td (1,713) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 245.50 218.77 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 281.35 218.77 Td (42.19) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 411.50 218.77 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 432.50 218.77 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 538.50 218.77 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 204.22 Td (February�1, 2018 ) Tj ET Q
q 0 0 0 rg BT 127.06 204.22 Td (Through) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 61.50 193.72 Td (February�28, 2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 219.25 194.77 Td (397) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 281.35 194.77 Td (42.97) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 411.50 194.77 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 538.50 194.77 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 180.22 Td (March�1, 2018 ) Tj ET Q
q 0 0 0 rg BT 116.46 180.22 Td (Through) Tj ET Q
BT /F1 10.50 Tf ET
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349.00 384.80 4.00 -12.00 re f
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353.00 384.80 49.00 -12.00 re f
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456.00 384.80 4.00 -12.00 re f
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460.00 384.80 49.00 -12.00 re f
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509.00 384.80 4.00 -12.00 re f
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513.00 384.80 49.00 -12.00 re f
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349.00 360.80 4.00 -12.00 re f
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353.00 360.80 49.00 -12.00 re f
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402.00 360.80 4.00 -12.00 re f
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406.00 360.80 50.00 -12.00 re f
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456.00 360.80 4.00 -12.00 re f
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460.00 360.80 49.00 -12.00 re f
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509.00 360.80 4.00 -12.00 re f
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513.00 360.80 49.00 -12.00 re f
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300.00 336.80 49.00 -12.00 re f
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349.00 336.80 4.00 -12.00 re f
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353.00 336.80 49.00 -12.00 re f
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402.00 336.80 4.00 -12.00 re f
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406.00 336.80 50.00 -12.00 re f
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456.00 336.80 4.00 -12.00 re f
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460.00 336.80 49.00 -12.00 re f
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509.00 336.80 4.00 -12.00 re f
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513.00 336.80 49.00 -12.00 re f
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300 705.8 m
349 705.8 l
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353 705.8 l
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513 590.8 m
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300 566.8 m
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353 566.8 m
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406 566.8 m
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456 566.8 m
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460 566.8 m
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513 566.8 m
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300 566.8 m
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353 566.8 m
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406 566.8 m
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456 566.8 m
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460 566.8 m
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513 566.8 m
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[] 0 d
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513 542.8 m
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353 530.8 m
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456 530.8 m
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[] 0 d
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460 530.8 m
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[] 0 d
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513 530.8 m
562 530.8 l
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[] 0 d
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68 372.79999999999995 m
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[] 0 d
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300 372.79999999999995 m
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[] 0 d
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3 M
349 372.79999999999995 m
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[] 0 d
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3 M
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[] 0 d
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3 M
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[] 0 d
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3 M
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[] 0 d
0 J
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3 M
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[] 0 d
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[] 0 d
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[] 0 d
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[] 0 d
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349 276.79999999999995 m
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[] 0 d
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353 276.79999999999995 m
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[] 0 d
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456 276.79999999999995 m
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[] 0 d
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460 276.79999999999995 m
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[] 0 d
0 J
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509 276.79999999999995 m
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BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.55 710.05 Td (Y) Tj ET Q
q 0 0 0 rg BT 398.93 710.05 Td (ears ended March 31,) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 311.95 697.03 Td (2018 ) Tj ET Q
BT /F2 8.00 Tf ET
BT /F2 5.20 Tf ET
q 0 0 0 rg BT 329.95 700.66 Td (\(1\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 369.00 697.05 Td (2017) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 422.50 697.05 Td (2016) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.00 697.05 Td (2015) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.00 697.05 Td (2014) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 70.50 684.88 Td (OPERA) Tj ET Q
q 0 0 0 rg BT 98.20 684.88 Td (TING RESUL) Tj ET Q
q 0 0 0 rg BT 146.66 684.88 Td (TS) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 672.75 Td (Operating Revenues) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 302.50 672.88 Td ($) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 308.50 672.88 Td (3,140,322) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 355.50 672.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 362.75 672.75 Td (2,886,902) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 408.50 672.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 416.75 672.75 Td (2,660,844) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 462.50 672.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 469.75 672.75 Td (2,819,106) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 515.50 672.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 522.75 672.75 Td (2,741,757) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 660.75 Td (Operating expenses, excluding impairment) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 308.50 660.88 Td (2,587,321) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 362.75 660.75 Td (2,429,659) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 416.75 660.75 Td (2,239,013) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 469.75 660.75 Td (2,320,887) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 522.75 660.75 Td (2,310,864) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 648.75 Td (Impairment of intangible assets and goodwill) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 314.50 648.88 Td (229,000) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 372.75 648.75 Td (35,000) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 422.75 648.75 Td (371,000) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 493.80 648.75 Td (�) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 648.75 Td (�) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 636.75 Td (Operating Income) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 314.50 636.88 Td (324,001) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 368.75 636.75 Td (422,243) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 426.75 636.75 Td (50,831) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 475.75 636.75 Td (498,219) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.75 636.75 Td (430,893) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 624.05 Td (Non-operating expense, net, including $107,074 debt extinguishment) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 79.50 616.05 Td (loss in July 2014) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 315.80 616.03 Td (\(99,942) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 340.50 616.03 Td (\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 370.10 616.05 Td (\(64,694) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.80 616.05 Td (\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 424.10 616.05 Td (\(68,806) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 448.80 616.05 Td (\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 473.10 616.05 Td (\(136,1) Tj ET Q
q 0 0 0 rg BT 493.76 616.05 Td (14) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 501.80 616.05 Td (\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 530.10 616.05 Td (\(13,726) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 616.05 Td (\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 603.05 Td (Non-operating income \(expense\) of consolidated investment) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 79.50 595.05 Td (vehicles, net) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 322.50 595.03 Td (9,781) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 372.75 595.05 Td (13,329) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 428.10 595.05 Td (\(7,243) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 448.80 595.05 Td (\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.75 595.05 Td (5,888) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 536.75 595.05 Td (2,474) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 582.75 Td (Income \(Loss\) before Income ) Tj ET Q
q 0 0 0 rg BT 167.28 582.75 Td (T) Tj ET Q
q 0 0 0 rg BT 171.81 582.75 Td (ax Provision \(Benefit\)) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 314.50 582.88 Td (233,840) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 368.75 582.75 Td (370,878) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 424.10 582.75 Td (\(25,218) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 448.80 582.75 Td (\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 475.75 582.75 Td (367,993) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.75 582.75 Td (419,641) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 570.75 Td (Income tax provision \(benefit\)) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 311.80 570.88 Td (\(102,510) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 340.50 570.88 Td (\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 372.75 570.75 Td (84,175) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 430.75 570.75 Td (7,692) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 475.75 570.75 Td (125,284) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.75 570.75 Td (137,805) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 558.75 Td (Net Income \(Loss\)) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 314.50 558.88 Td (336,350) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 368.75 558.75 Td (286,703) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 424.10 558.75 Td (\(32,910) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 448.80 558.75 Td (\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 475.75 558.75 Td (242,709) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.75 558.75 Td (281,836) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 546.75 Td (Less: Net income \(loss\) attributable to noncontrolling interests) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 318.50 546.88 Td (51,275) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 372.75 546.75 Td (59,447) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 428.10 546.75 Td (\(7,878) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 448.80 546.75 Td (\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.75 546.75 Td (5,629) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 534.10 546.75 Td (\(2,948) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 546.75 Td (\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 534.75 Td (Net Income \(Loss\) ) Tj ET Q
q 0 0 0 rg BT 132.26 534.75 Td (Attributable to Legg Mason,�Inc.) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 302.50 534.88 Td ($) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 314.50 534.88 Td (285,075) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 355.50 534.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 368.75 534.75 Td (227,256) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 408.50 534.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 424.10 534.75 Td (\(25,032) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 448.80 534.75 Td (\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 462.50 534.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 475.75 534.75 Td (237,080) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 515.50 534.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.75 534.75 Td (284,784) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 70.50 518.03 Td (PER SHARE) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 505.05 Td (Net Income \(Loss\) per Share ) Tj ET Q
q 0 0 0 rg BT 164.47 505.05 Td (Attributable to Legg Mason,�Inc.) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 79.50 497.05 Td (Shareholders:) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 76.50 484.75 Td (Basic) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 302.50 484.88 Td ($) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 326.50 484.88 Td (3.03) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 355.50 484.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 380.75 484.75 Td (2.19) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 408.50 484.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 432.10 484.75 Td (\(0.25) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 448.80 484.75 Td (\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 462.50 484.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 487.75 484.75 Td (2.06) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 515.50 484.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 540.75 484.75 Td (2.34) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 76.50 472.75 Td (Diluted) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 302.50 472.88 Td ($) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 326.50 472.88 Td (3.01) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 355.50 472.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 380.75 472.75 Td (2.18) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 408.50 472.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 432.10 472.75 Td (\(0.25) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 448.80 472.75 Td (\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 462.50 472.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 487.75 472.75 Td (2.04) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 515.50 472.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 540.75 472.75 Td (2.33) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 460.75 Td (W) Tj ET Q
q 0 0 0 rg BT 77.41 460.75 Td (eighted-A) Tj ET Q
q 0 0 0 rg BT 108.80 460.75 Td (verage Number of Shares Outstanding: ) Tj ET Q
BT /F1 8.00 Tf ET
BT /F1 5.20 Tf ET
q 0 0 0 rg BT 235.66 464.38 Td (\(2\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 76.50 448.75 Td (Basic) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 318.50 448.88 Td (90,734) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 368.75 448.75 Td (100,580) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 422.75 448.75 Td (107,406) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 475.75 448.75 Td (1) Tj ET Q
q 0 0 0 rg BT 479.75 448.75 Td (12,019) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.75 448.75 Td (121,941) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 76.50 436.75 Td (Diluted) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 318.50 436.88 Td (91,194) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 368.75 436.75 Td (100,799) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 422.75 436.75 Td (107,406) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 475.75 436.75 Td (1) Tj ET Q
q 0 0 0 rg BT 479.75 436.75 Td (13,246) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.75 436.75 Td (122,383) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 424.75 Td (Dividends Declared) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 302.50 424.88 Td ($) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 326.50 424.88 Td (1.12) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 355.50 424.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 380.75 424.75 Td (0.88) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 408.50 424.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 434.75 424.75 Td (0.80) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 462.50 424.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 487.75 424.75 Td (0.64) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 515.50 424.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 540.75 424.75 Td (0.52) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 70.50 412.88 Td (BALANCE SHEET) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 400.75 Td (T) Tj ET Q
q 0 0 0 rg BT 75.11 400.75 Td (otal ) Tj ET Q
q 0 0 0 rg BT 88.60 400.75 Td (Assets) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 302.50 400.88 Td ($) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 308.50 400.88 Td (8,152,534) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 355.50 400.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 362.75 400.75 Td (8,290,415) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 408.50 400.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 416.75 400.75 Td (7,520,446) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 462.50 400.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 469.75 400.75 Td (7,064,834) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 515.50 400.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 522.75 400.75 Td (7,103,203) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 388.75 Td (Long-term debt, net) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 308.50 388.88 Td (2,221,810) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 362.75 388.75 Td (2,221,867) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 416.75 388.75 Td (1,740,985) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 469.75 388.75 Td (1,048,946) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 522.75 388.75 Td (1,031,1) Tj ET Q
q 0 0 0 rg BT 546.75 388.75 Td (18) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 376.75 Td (T) Tj ET Q
q 0 0 0 rg BT 75.11 376.75 Td (otal Stockholders' Equity ) Tj ET Q
q 0 0 0 rg BT 157.15 376.75 Td (Attributable to Legg Mason, Inc.) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 308.50 376.88 Td (3,824,405) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 362.75 376.75 Td (3,983,374) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 416.75 376.75 Td (4,213,563) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 469.75 376.75 Td (4,484,901) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 522.75 376.75 Td (4,724,724) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 70.50 364.88 Td (FINANCIAL) Tj ET Q
q 0 0 0 rg BT 115.39 364.88 Td ( RA) Tj ET Q
q 0 0 0 rg BT 128.36 364.88 Td (TIOS ) Tj ET Q
q 0 0 0 rg BT 149.04 364.88 Td (AND OTHER DA) Tj ET Q
q 0 0 0 rg BT 210.22 364.88 Td (T) Tj ET Q
q 0 0 0 rg BT 214.96 364.88 Td (A) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 352.75 Td (Operating Mar) Tj ET Q
q 0 0 0 rg BT 117.74 352.75 Td (gin) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 326.50 352.88 Td (10.3) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 340.50 352.88 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 380.75 352.75 Td (14.6) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.80 352.75 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.80 352.75 Td (1.9) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 448.80 352.75 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 487.75 352.75 Td (17.7) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 501.80 352.75 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 540.75 352.75 Td (15.7) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 352.75 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 340.75 Td (Operating Mar) Tj ET Q
q 0 0 0 rg BT 117.67 340.75 Td (gin, as ) Tj ET Q
q 0 0 0 rg BT 140.12 340.75 Td (Adjusted ) Tj ET Q
BT /F1 8.00 Tf ET
BT /F1 5.20 Tf ET
q 0 0 0 rg BT 171.00 344.38 Td (\(3\)) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 326.50 340.88 Td (24.6) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 340.50 340.88 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 380.75 340.75 Td (19.7) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.80 340.75 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 434.75 340.75 Td (18.6) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 448.80 340.75 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 487.75 340.75 Td (23.0) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 501.80 340.75 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 540.75 340.75 Td (22.0) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 340.75 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
0.8 0.9333333333333333 1 rg
/GS0 gs
70.50 334.30 119.53 -7.27 re f
/GS0 gs
q 0 0 0 rg BT 70.50 328.75 Td (Cash provided by operating activities) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 302.50 328.88 Td ($) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 314.50 328.88 Td (492,936) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 355.50 328.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 368.75 328.75 Td (539,772) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 408.50 328.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 422.75 328.75 Td (454,451) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 462.50 328.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 475.75 328.75 Td (568,1) Tj ET Q
q 0 0 0 rg BT 493.75 328.75 Td (18) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 515.50 328.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.75 328.75 Td (437,324) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 316.75 Td (Adjusted EBITDA) Tj ET Q
BT /F1 8.00 Tf ET
BT /F1 5.20 Tf ET
q 0 0 0 rg BT 130.71 320.38 Td (\(4\)) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 314.50 316.88 Td (637,228) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 368.75 316.75 Td (560,240) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 422.75 316.75 Td (561,432) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 475.75 316.75 Td (658,262) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.75 316.75 Td (581,462) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 304.75 Td (T) Tj ET Q
q 0 0 0 rg BT 74.83 304.75 Td (otal debt to total capi) Tj ET Q
BT /F1 8.00 Tf ET
0.8 0.9333333333333333 1 rg
/GS0 gs
142.36 310.30 10.00 -7.27 re f
/GS0 gs
q 0 0 0 rg BT 142.36 304.75 Td (tal ) Tj ET Q
BT /F1 8.00 Tf ET
0.8 0.9333333333333333 1 rg
/GS0 gs
152.36 313.92 6.06 -7.27 re f
/GS0 gs
BT /F1 5.20 Tf ET
q 0 0 0 rg BT 152.36 308.38 Td (\(5\)) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 326.50 304.88 Td (38.4) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 340.50 304.88 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 380.75 304.75 Td (36.2) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.80 304.75 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 434.75 304.75 Td (29.9) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 448.80 304.75 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 487.75 304.75 Td (19.1) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 501.80 304.75 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 540.75 304.75 Td (18.0) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 304.75 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 292.75 Td (Assets under management) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 154.48 292.75 Td ( \(in millions\)) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 302.50 292.88 Td ($) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 314.50 292.88 Td (754,131) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 355.50 292.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 368.75 292.75 Td (728,406) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 408.50 292.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 422.75 292.75 Td (669,615) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 462.50 292.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 475.75 292.75 Td (702,724) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 515.50 292.75 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.75 292.75 Td (701,774) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 70.50 280.75 Td (Full-time employees) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 322.50 280.88 Td (3,275) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 376.75 280.75 Td (3,338) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 430.75 280.75 Td (3,066) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.75 280.75 Td (2,982) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 536.75 280.75 Td (2,843) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 267.70 Td (\(1\) ) Tj ET Q
q 0 0 0 rg BT 85.50 267.70 Td (In ) Tj ET Q
q 0 0 0 rg BT 94.08 267.70 Td (connection ) Tj ET Q
q 0 0 0 rg BT 131.09 267.70 Td (with ) Tj ET Q
q 0 0 0 rg BT 147.23 267.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 158.92 267.70 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 193.71 267.70 Td (matter ) Tj ET Q
q 0 0 0 rg BT 216.06 267.70 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 248.64 267.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 256.78 267.70 Td (Subsequent ) Tj ET Q
q 0 0 0 rg BT 295.58 267.70 Td (Event, ) Tj ET Q
q 0 0 0 rg BT 318.16 267.70 Td (Note ) Tj ET Q
q 0 0 0 rg BT 335.63 267.70 Td (18 ) Tj ET Q
q 0 0 0 rg BT 345.54 267.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 354.12 267.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 365.81 267.70 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 386.39 267.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 394.53 267.70 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 438.67 267.70 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 470.35 267.70 Td (Statements, ) Tj ET Q
q 0 0 0 rg BT 509.37 267.70 Td (we ) Tj ET Q
q 0 0 0 rg BT 520.62 267.70 Td (have ) Tj ET Q
q 0 0 0 rg BT 537.63 267.70 Td (accrued ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 85.50 258.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 90.80 258.10 Td (char) Tj ET Q
q 0 0 0 rg BT 104.42 258.10 Td (ge ) Tj ET Q
q 0 0 0 rg BT 113.73 258.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 121.70 258.10 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 150.56 258.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 158.98 258.10 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 206.94 258.10 Td ($67 ) Tj ET Q
q 0 0 0 rg BT 220.69 258.10 Td (million, ) Tj ET Q
q 0 0 0 rg BT 247.55 258.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 255.97 258.10 Td ($0.71 ) Tj ET Q
q 0 0 0 rg BT 275.72 258.10 Td (per ) Tj ET Q
q 0 0 0 rg BT 287.69 258.10 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 311.66 258.10 Td (share, ) Tj ET Q
q 0 0 0 rg BT 332.30 258.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 340.27 258.10 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 359.35 258.10 Td (2018. ) Tj ET Q
q 0 0 0 rg BT 379.10 258.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 380.73 258.10 Td (This ) Tj ET Q
q 0 0 0 rg BT 396.70 258.10 Td (char) Tj ET Q
q 0 0 0 rg BT 410.32 258.10 Td (ge ) Tj ET Q
q 0 0 0 rg BT 419.63 258.10 Td (became ) Tj ET Q
q 0 0 0 rg BT 445.81 258.10 Td (probable ) Tj ET Q
q 0 0 0 rg BT 475.55 258.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 488.85 258.10 Td (estimable ) Tj ET Q
q 0 0 0 rg BT 521.26 258.10 Td (after ) Tj ET Q
q 0 0 0 rg BT 537.67 258.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 549.19 258.10 Td (date ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 85.50 248.50 Td (on ) Tj ET Q
q 0 0 0 rg BT 95.70 248.50 Td (which ) Tj ET Q
q 0 0 0 rg BT 117.44 248.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 136.07 248.50 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 160.05 248.50 Td (issued ) Tj ET Q
q 0 0 0 rg BT 182.24 248.50 Td (its ) Tj ET Q
q 0 0 0 rg BT 192.00 248.50 Td (preliminary ) Tj ET Q
q 0 0 0 rg BT 231.51 248.50 Td (financial ) Tj ET Q
q 0 0 0 rg BT 261.69 248.50 Td (results ) Tj ET Q
q 0 0 0 rg BT 284.77 248.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 296.30 248.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 308.27 248.50 Td (quarter ) Tj ET Q
q 0 0 0 rg BT 333.11 248.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 346.86 248.50 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 366.38 248.50 Td (year ) Tj ET Q
q 0 0 0 rg BT 382.34 248.50 Td (ended ) Tj ET Q
q 0 0 0 rg BT 403.64 248.50 Td (March ) Tj ET Q
q 0 0 0 rg BT 426.71 248.50 Td (31, ) Tj ET Q
q 0 0 0 rg BT 438.91 248.50 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 459.10 248.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 472.85 248.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 484.82 248.50 Td (financial ) Tj ET Q
q 0 0 0 rg BT 515.00 248.50 Td (statements ) Tj ET Q
q 0 0 0 rg BT 550.96 248.50 Td (and ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 85.50 238.90 Td (other ) Tj ET Q
q 0 0 0 rg BT 103.94 238.90 Td (financial ) Tj ET Q
q 0 0 0 rg BT 133.92 238.90 Td (information ) Tj ET Q
q 0 0 0 rg BT 173.69 238.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 181.91 238.90 Td (this ) Tj ET Q
q 0 0 0 rg BT 195.47 238.90 Td (Report ) Tj ET Q
q 0 0 0 rg BT 219.25 238.90 Td (serve ) Tj ET Q
q 0 0 0 rg BT 238.13 238.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 246.35 238.90 Td (update ) Tj ET Q
q 0 0 0 rg BT 269.67 238.90 Td (all ) Tj ET Q
q 0 0 0 rg BT 279.67 238.90 Td (preliminary ) Tj ET Q
q 0 0 0 rg BT 318.99 238.90 Td (financial ) Tj ET Q
q 0 0 0 rg BT 348.97 238.90 Td (results.) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 229.30 Td (\(2\) ) Tj ET Q
q 0 0 0 rg BT 85.50 229.30 Td (Excludes ) Tj ET Q
q 0 0 0 rg BT 116.52 229.30 Td (weighted-average ) Tj ET Q
q 0 0 0 rg BT 175.06 229.30 Td (unvested ) Tj ET Q
q 0 0 0 rg BT 205.19 229.30 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 236.64 229.30 Td (shares ) Tj ET Q
q 0 0 0 rg BT 258.33 229.30 Td (deemed ) Tj ET Q
q 0 0 0 rg BT 284.89 229.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 292.81 229.30 Td (be ) Tj ET Q
q 0 0 0 rg BT 302.05 229.30 Td (participating ) Tj ET Q
q 0 0 0 rg BT 344.17 229.30 Td (securities ) Tj ET Q
q 0 0 0 rg BT 376.07 229.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 387.09 229.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 398.56 229.30 Td (years ) Tj ET Q
q 0 0 0 rg BT 417.13 229.30 Td (ended ) Tj ET Q
q 0 0 0 rg BT 437.92 229.30 Td (March ) Tj ET Q
q 0 0 0 rg BT 460.49 229.30 Td (31, ) Tj ET Q
q 0 0 0 rg BT 472.18 229.30 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 491.88 229.30 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 511.57 229.30 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 531.26 229.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 544.50 229.30 Td (2015. ) Tj ET Q
q 0 0 0 rg BT 564.50 229.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 566.50 229.30 Td ( ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 85.50 219.70 Td (Basic ) Tj ET Q
q 0 0 0 rg BT 105.46 219.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 119.19 219.70 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 143.59 219.70 Td (shares ) Tj ET Q
q 0 0 0 rg BT 165.76 219.70 Td (are ) Tj ET Q
q 0 0 0 rg BT 177.71 219.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 189.66 219.70 Td (same ) Tj ET Q
q 0 0 0 rg BT 208.28 219.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 219.79 219.70 Td (periods ) Tj ET Q
q 0 0 0 rg BT 245.53 219.70 Td (with ) Tj ET Q
q 0 0 0 rg BT 261.93 219.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 267.66 219.70 Td (Net ) Tj ET Q
q 0 0 0 rg BT 281.39 219.70 Td (Loss ) Tj ET Q
q 0 0 0 rg BT 298.21 219.70 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 339.05 219.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 347.45 219.70 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 366.07 219.70 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 392.03 219.70 Td (Inc. ) Tj ET Q
q 0 0 0 rg BT 406.42 219.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 408.61 219.70 Td (See ) Tj ET Q
q 0 0 0 rg BT 422.34 219.70 Td (Note ) Tj ET Q
q 0 0 0 rg BT 440.07 219.70 Td (12 ) Tj ET Q
q 0 0 0 rg BT 450.25 219.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 459.10 219.70 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 479.94 219.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 488.35 219.70 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 532.75 219.70 Td (Financial ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 85.50 210.10 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 122.61 210.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 130.83 210.10 Td (Item ) Tj ET Q
q 0 0 0 rg BT 147.49 210.10 Td (8. ) Tj ET Q
q 0 0 0 rg BT 155.49 210.10 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 187.26 210.10 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 224.36 210.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 237.91 210.10 Td (Supplemental ) Tj ET Q
q 0 0 0 rg BT 283.91 210.10 Td (Data.) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 200.50 Td (\(3\) ) Tj ET Q
q 0 0 0 rg BT 85.50 200.50 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 119.66 200.50 Td (Mar) Tj ET Q
q 0 0 0 rg BT 132.84 200.50 Td (gin, ) Tj ET Q
q 0 0 0 rg BT 147.23 200.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 155.58 200.50 Td (Adjusted, ) Tj ET Q
q 0 0 0 rg BT 188.64 200.50 Td (is ) Tj ET Q
q 0 0 0 rg BT 196.14 200.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 201.86 200.50 Td (non-GAAP) Tj ET Q
q 0 0 0 rg BT 238.01 200.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 240.18 200.50 Td (performance ) Tj ET Q
q 0 0 0 rg BT 282.76 200.50 Td (measure ) Tj ET Q
q 0 0 0 rg BT 311.58 200.50 Td (we ) Tj ET Q
q 0 0 0 rg BT 323.08 200.50 Td (calculate ) Tj ET Q
q 0 0 0 rg BT 353.67 200.50 Td (by ) Tj ET Q
q 0 0 0 rg BT 363.84 200.50 Td (dividing ) Tj ET Q
q 0 0 0 rg BT 392.67 200.50 Td (\(i\)�Operating ) Tj ET Q
q 0 0 0 rg BT 436.38 200.50 Td (Income, ) Tj ET Q
q 0 0 0 rg BT 464.54 200.50 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 493.37 200.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 501.76 200.50 Td (exclude ) Tj ET Q
q 0 0 0 rg BT 528.80 200.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 540.74 200.50 Td (impact ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 85.50 190.90 Td (on ) Tj ET Q
q 0 0 0 rg BT 95.49 190.90 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 141.91 190.90 Td (expense ) Tj ET Q
q 0 0 0 rg BT 169.67 190.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 178.32 190.90 Td (gains ) Tj ET Q
q 0 0 0 rg BT 197.20 190.90 Td (or ) Tj ET Q
q 0 0 0 rg BT 205.86 190.90 Td (losses ) Tj ET Q
q 0 0 0 rg BT 226.96 190.90 Td (on ) Tj ET Q
q 0 0 0 rg BT 236.95 190.90 Td (investments ) Tj ET Q
q 0 0 0 rg BT 277.16 190.90 Td (made ) Tj ET Q
q 0 0 0 rg BT 296.47 190.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 304.69 190.90 Td (fund ) Tj ET Q
q 0 0 0 rg BT 321.34 190.90 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 349.97 190.90 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 396.40 190.90 Td (plans, ) Tj ET Q
q 0 0 0 rg BT 417.28 190.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 429.04 190.90 Td (impact ) Tj ET Q
q 0 0 0 rg BT 452.80 190.90 Td (on ) Tj ET Q
q 0 0 0 rg BT 462.79 190.90 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 509.21 190.90 Td (expense ) Tj ET Q
q 0 0 0 rg BT 536.97 190.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 545.62 190.90 Td (gains ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 85.50 181.30 Td (or ) Tj ET Q
q 0 0 0 rg BT 94.58 181.30 Td (losses ) Tj ET Q
q 0 0 0 rg BT 116.12 181.30 Td (on ) Tj ET Q
q 0 0 0 rg BT 126.54 181.30 Td (seed ) Tj ET Q
q 0 0 0 rg BT 143.17 181.30 Td (capital ) Tj ET Q
q 0 0 0 rg BT 166.91 181.30 Td (investments ) Tj ET Q
q 0 0 0 rg BT 207.55 181.30 Td (by ) Tj ET Q
q 0 0 0 rg BT 217.97 181.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 231.05 181.30 Td (af) Tj ET Q
q 0 0 0 rg BT 237.13 181.30 Td (filiates ) Tj ET Q
q 0 0 0 rg BT 261.31 181.30 Td (under ) Tj ET Q
q 0 0 0 rg BT 281.95 181.30 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 309.69 181.30 Td (sharing ) Tj ET Q
q 0 0 0 rg BT 335.66 181.30 Td (agreements, ) Tj ET Q
q 0 0 0 rg BT 376.50 181.30 Td (amortization ) Tj ET Q
q 0 0 0 rg BT 419.35 181.30 Td (related ) Tj ET Q
q 0 0 0 rg BT 443.53 181.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 452.18 181.30 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 486.59 181.30 Td (assets, ) Tj ET Q
q 0 0 0 rg BT 509.67 181.30 Td (income ) Tj ET Q
q 0 0 0 rg BT 535.64 181.30 Td (\(loss\) ) Tj ET Q
q 0 0 0 rg BT 555.84 181.30 Td (of ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 85.50 171.70 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 127.49 171.70 Td (investment ) Tj ET Q
q 0 0 0 rg BT 164.15 171.70 Td (vehicles, ) Tj ET Q
q 0 0 0 rg BT 193.92 171.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 205.25 171.70 Td (impact ) Tj ET Q
q 0 0 0 rg BT 228.58 171.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 236.80 171.70 Td (fair ) Tj ET Q
q 0 0 0 rg BT 249.46 171.70 Td (value ) Tj ET Q
q 0 0 0 rg BT 268.34 171.70 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 308.12 171.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 316.34 171.70 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 351.67 171.70 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 396.32 171.70 Td (liabilities, ) Tj ET Q
q 0 0 0 rg BT 429.66 171.70 Td (if ) Tj ET Q
q 0 0 0 rg BT 436.10 171.70 Td (any) Tj ET Q
q 0 0 0 rg BT 447.13 171.70 Td (, ) Tj ET Q
q 0 0 0 rg BT 450.69 171.70 Td (unusual ) Tj ET Q
q 0 0 0 rg BT 477.13 171.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 490.24 171.70 Td (other ) Tj ET Q
q 0 0 0 rg BT 508.24 171.70 Td (non-core ) Tj ET Q
q 0 0 0 rg BT 538.22 171.70 Td (char) Tj ET Q
q 0 0 0 rg BT 551.84 171.70 Td (ges ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 85.50 162.10 Td (\(including ) Tj ET Q
q 0 0 0 rg BT 120.44 162.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 132.27 162.10 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 167.20 162.10 Td (matter ) Tj ET Q
q 0 0 0 rg BT 189.68 162.10 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 222.40 162.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 230.68 162.10 Td (Subsequent ) Tj ET Q
q 0 0 0 rg BT 269.62 162.10 Td (Event, ) Tj ET Q
q 0 0 0 rg BT 292.34 162.10 Td (Note ) Tj ET Q
q 0 0 0 rg BT 309.94 162.10 Td (18 ) Tj ET Q
q 0 0 0 rg BT 320.00 162.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 328.71 162.10 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 349.43 162.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 357.71 162.10 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 401.98 162.10 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 433.81 162.10 Td (Statements\), ) Tj ET Q
q 0 0 0 rg BT 475.63 162.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 489.24 162.10 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 528.17 162.10 Td (char) Tj ET Q
q 0 0 0 rg BT 541.79 162.10 Td (ges ) Tj ET Q
q 0 0 0 rg BT 554.51 162.10 Td (by ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 85.50 152.50 Td (\(ii\)�our ) Tj ET Q
q 0 0 0 rg BT 110.01 152.50 Td (operating ) Tj ET Q
q 0 0 0 rg BT 142.30 152.50 Td (revenues, ) Tj ET Q
q 0 0 0 rg BT 174.80 152.50 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 203.54 152.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 211.83 152.50 Td (add ) Tj ET Q
q 0 0 0 rg BT 225.46 152.50 Td (back ) Tj ET Q
q 0 0 0 rg BT 242.63 152.50 Td (net ) Tj ET Q
q 0 0 0 rg BT 254.48 152.50 Td (investment ) Tj ET Q
q 0 0 0 rg BT 291.66 152.50 Td (advisory ) Tj ET Q
q 0 0 0 rg BT 321.29 152.50 Td (fees ) Tj ET Q
q 0 0 0 rg BT 336.24 152.50 Td (eliminated ) Tj ET Q
q 0 0 0 rg BT 372.08 152.50 Td (upon ) Tj ET Q
q 0 0 0 rg BT 390.15 152.50 Td (consolidation ) Tj ET Q
q 0 0 0 rg BT 435.33 152.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 444.07 152.50 Td (investment ) Tj ET Q
q 0 0 0 rg BT 481.25 152.50 Td (vehicles, ) Tj ET Q
q 0 0 0 rg BT 511.54 152.50 Td (less ) Tj ET Q
q 0 0 0 rg BT 525.61 152.50 Td (distribution ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 85.50 142.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 99.24 142.90 Td (servicing ) Tj ET Q
q 0 0 0 rg BT 130.75 142.90 Td (expenses ) Tj ET Q
q 0 0 0 rg BT 161.81 142.90 Td (which ) Tj ET Q
q 0 0 0 rg BT 183.55 142.90 Td (we ) Tj ET Q
q 0 0 0 rg BT 195.07 142.90 Td (use ) Tj ET Q
q 0 0 0 rg BT 207.92 142.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 216.77 142.90 Td (an ) Tj ET Q
q 0 0 0 rg BT 226.50 142.90 Td (approximate ) Tj ET Q
q 0 0 0 rg BT 268.67 142.90 Td (measure ) Tj ET Q
q 0 0 0 rg BT 297.51 142.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 306.36 142.90 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 336.98 142.90 Td (that ) Tj ET Q
q 0 0 0 rg BT 351.16 142.90 Td (are ) Tj ET Q
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q 0 0 0 rg BT 287.72 578.10 Td (advisory ) Tj ET Q
q 0 0 0 rg BT 327.01 578.10 Td (fees ) Tj ET Q
q 0 0 0 rg BT 347.03 578.10 Td (from ) Tj ET Q
q 0 0 0 rg BT 370.57 578.10 Td (funds ) Tj ET Q
q 0 0 0 rg BT 397.02 578.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 415.30 578.10 Td (separate ) Tj ET Q
q 0 0 0 rg BT 452.82 578.10 Td (accounts, ) Tj ET Q
q 0 0 0 rg BT 495.30 578.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 513.59 578.10 Td (distribution ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 66.79 565.50 Td (service ) Tj ET Q
q 0 0 0 rg BT 98.66 565.50 Td (fees. ) Tj ET Q
q 0 0 0 rg BT 120.32 565.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 122.45 565.50 Td (Investment ) Tj ET Q
q 0 0 0 rg BT 171.24 565.50 Td (advisory ) Tj ET Q
q 0 0 0 rg BT 209.53 565.50 Td (fees ) Tj ET Q
q 0 0 0 rg BT 228.56 565.50 Td (are ) Tj ET Q
q 0 0 0 rg BT 243.51 565.50 Td (generally ) Tj ET Q
q 0 0 0 rg BT 284.71 565.50 Td (calculated ) Tj ET Q
q 0 0 0 rg BT 329.40 565.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 340.27 565.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 347.07 565.50 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 394.66 565.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 405.54 565.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 420.50 565.50 Td (assets ) Tj ET Q
q 0 0 0 rg BT 447.13 565.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 458.01 565.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 472.97 565.50 Td (investment ) Tj ET Q
q 0 0 0 rg BT 521.18 565.50 Td (portfolios ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.90 Td (that ) Tj ET Q
q 0 0 0 rg BT 68.19 552.90 Td (we ) Tj ET Q
q 0 0 0 rg BT 83.39 552.90 Td (manage. ) Tj ET Q
q 0 0 0 rg BT 121.61 552.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 124.56 552.90 Td (In ) Tj ET Q
q 0 0 0 rg BT 136.25 552.90 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 176.24 552.90 Td (performance ) Tj ET Q
q 0 0 0 rg BT 232.24 552.90 Td (fees ) Tj ET Q
q 0 0 0 rg BT 252.09 552.90 Td (may ) Tj ET Q
q 0 0 0 rg BT 273.11 552.90 Td (be ) Tj ET Q
q 0 0 0 rg BT 285.97 552.90 Td (earned ) Tj ET Q
q 0 0 0 rg BT 316.90 552.90 Td (under ) Tj ET Q
q 0 0 0 rg BT 343.76 552.90 Td (certain ) Tj ET Q
q 0 0 0 rg BT 375.27 552.90 Td (investment ) Tj ET Q
q 0 0 0 rg BT 424.29 552.90 Td (advisory ) Tj ET Q
q 0 0 0 rg BT 463.40 552.90 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 504.25 552.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 519.44 552.90 Td (exceeding ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.30 Td (performance ) Tj ET Q
q 0 0 0 rg BT 106.88 540.30 Td (benchmarks ) Tj ET Q
q 0 0 0 rg BT 161.95 540.30 Td (or ) Tj ET Q
q 0 0 0 rg BT 175.02 540.30 Td (hurdle ) Tj ET Q
q 0 0 0 rg BT 206.18 540.30 Td (rates. ) Tj ET Q
q 0 0 0 rg BT 232.96 540.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 236.98 540.30 Td (The ) Tj ET Q
q 0 0 0 rg BT 257.63 540.30 Td (lar) Tj ET Q
q 0 0 0 rg BT 268.52 540.30 Td (gest ) Tj ET Q
q 0 0 0 rg BT 289.76 540.30 Td (portion ) Tj ET Q
q 0 0 0 rg BT 324.43 540.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 337.51 540.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 355.83 540.30 Td (performance ) Tj ET Q
q 0 0 0 rg BT 413.22 540.30 Td (fees ) Tj ET Q
q 0 0 0 rg BT 434.45 540.30 Td (is ) Tj ET Q
q 0 0 0 rg BT 445.79 540.30 Td (earned ) Tj ET Q
q 0 0 0 rg BT 478.10 540.30 Td (based ) Tj ET Q
q 0 0 0 rg BT 506.34 540.30 Td (on ) Tj ET Q
q 0 0 0 rg BT 521.17 540.30 Td (12-month ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.70 Td (performance ) Tj ET Q
q 0 0 0 rg BT 105.26 527.70 Td (periods ) Tj ET Q
q 0 0 0 rg BT 138.88 527.70 Td (that ) Tj ET Q
q 0 0 0 rg BT 157.33 527.70 Td (end ) Tj ET Q
q 0 0 0 rg BT 175.20 527.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 186.08 527.70 Td (dif) Tj ET Q
q 0 0 0 rg BT 197.55 527.70 Td (fering ) Tj ET Q
q 0 0 0 rg BT 225.33 527.70 Td (quarters ) Tj ET Q
q 0 0 0 rg BT 261.86 527.70 Td (during ) Tj ET Q
q 0 0 0 rg BT 291.98 527.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 307.52 527.70 Td (year) Tj ET Q
q 0 0 0 rg BT 325.17 527.70 Td (, ) Tj ET Q
q 0 0 0 rg BT 330.50 527.70 Td (with ) Tj ET Q
q 0 0 0 rg BT 351.88 527.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 359.24 527.70 Td (portion ) Tj ET Q
q 0 0 0 rg BT 392.28 527.70 Td (based ) Tj ET Q
q 0 0 0 rg BT 418.90 527.70 Td (on ) Tj ET Q
q 0 0 0 rg BT 432.11 527.70 Td (quarterly ) Tj ET Q
q 0 0 0 rg BT 472.72 527.70 Td (performance ) Tj ET Q
q 0 0 0 rg BT 528.48 527.70 Td (periods. ) Tj ET Q
q 0 0 0 rg BT 564.64 527.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 567.26 527.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 569.89 527.70 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 515.10 Td (W) Tj ET Q
q 0 0 0 rg BT 58.57 515.10 Td (e ) Tj ET Q
q 0 0 0 rg BT 65.45 515.10 Td (also ) Tj ET Q
q 0 0 0 rg BT 84.59 515.10 Td (earn ) Tj ET Q
q 0 0 0 rg BT 104.88 515.10 Td (performance ) Tj ET Q
q 0 0 0 rg BT 160.15 515.10 Td (fees ) Tj ET Q
q 0 0 0 rg BT 179.27 515.10 Td (on ) Tj ET Q
q 0 0 0 rg BT 191.99 515.10 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 238.52 515.10 Td (products ) Tj ET Q
q 0 0 0 rg BT 276.91 515.10 Td (that ) Tj ET Q
q 0 0 0 rg BT 294.87 515.10 Td (lock ) Tj ET Q
q 0 0 0 rg BT 315.17 515.10 Td (at ) Tj ET Q
q 0 0 0 rg BT 324.97 515.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 340.02 515.10 Td (end ) Tj ET Q
q 0 0 0 rg BT 357.40 515.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 368.37 515.10 Td (varying ) Tj ET Q
q 0 0 0 rg BT 402.67 515.10 Td (investment ) Tj ET Q
q 0 0 0 rg BT 450.97 515.10 Td (periods ) Tj ET Q
q 0 0 0 rg BT 484.10 515.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 495.07 515.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 505.45 515.10 Td (multiple-year ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.50 Td (intervals. ) Tj ET Q
q 0 0 0 rg BT 90.47 502.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 92.67 502.50 Td (Per ) Tj ET Q
q 0 0 0 rg BT 108.86 502.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 123.88 502.50 Td (terms ) Tj ET Q
q 0 0 0 rg BT 149.40 502.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 160.34 502.50 Td (certain ) Tj ET Q
q 0 0 0 rg BT 191.10 502.50 Td (more ) Tj ET Q
q 0 0 0 rg BT 214.86 502.50 Td (recent ) Tj ET Q
q 0 0 0 rg BT 242.70 502.50 Td (acquisitions, ) Tj ET Q
BT /F1 10.50 Tf ET
1 1 1 rg
/GS0 gs
297.68 509.78 266.94 -9.55 re f
/GS0 gs
q 0 0 0 rg BT 297.68 502.50 Td (performance ) Tj ET Q
q 0 0 0 rg BT 352.93 502.50 Td (fees ) Tj ET Q
q 0 0 0 rg BT 372.02 502.50 Td (earned ) Tj ET Q
q 0 0 0 rg BT 402.20 502.50 Td (on ) Tj ET Q
q 0 0 0 rg BT 414.89 502.50 Td (pre-close ) Tj ET Q
q 0 0 0 rg BT 455.56 502.50 Td (assets ) Tj ET Q
q 0 0 0 rg BT 482.25 502.50 Td (under ) Tj ET Q
q 0 0 0 rg BT 508.35 502.50 Td (management ) Tj ET Q
BT /F1 10.50 Tf ET
1 1 1 rg
/GS0 gs
49.50 497.18 515.13 -9.55 re f
/GS0 gs
q 0 0 0 rg BT 49.50 489.90 Td (\("AUM"\) ) Tj ET Q
q 0 0 0 rg BT 93.00 489.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 105.18 489.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 121.45 489.90 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 161.03 489.90 Td (entities ) Tj ET Q
q 0 0 0 rg BT 194.79 489.90 Td (are ) Tj ET Q
q 0 0 0 rg BT 211.04 489.90 Td (fully ) Tj ET Q
q 0 0 0 rg BT 234.31 489.90 Td (passed ) Tj ET Q
q 0 0 0 rg BT 265.74 489.90 Td (through ) Tj ET Q
q 0 0 0 rg BT 301.84 489.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 314.02 489.90 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 375.78 489.90 Td (expense ) Tj ET Q
q 0 0 0 rg BT 413.03 489.90 Td (or ) Tj ET Q
q 0 0 0 rg BT 425.21 489.90 Td (net ) Tj ET Q
q 0 0 0 rg BT 441.48 489.90 Td (income ) Tj ET Q
q 0 0 0 rg BT 475.82 489.90 Td (\(loss\) ) Tj ET Q
q 0 0 0 rg BT 502.59 489.90 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 553.84 489.90 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
1 1 1 rg
/GS0 gs
49.50 484.58 461.76 -9.55 re f
/GS0 gs
q 0 0 0 rg BT 49.50 477.30 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 113.63 477.30 Td (interests, ) Tj ET Q
q 0 0 0 rg BT 153.55 477.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 171.02 477.30 Td (therefore ) Tj ET Q
q 0 0 0 rg BT 211.21 477.30 Td (have ) Tj ET Q
q 0 0 0 rg BT 233.34 477.30 Td (no ) Tj ET Q
q 0 0 0 rg BT 246.14 477.30 Td (impact ) Tj ET Q
q 0 0 0 rg BT 277.02 477.30 Td (on ) Tj ET Q
q 0 0 0 rg BT 289.83 477.30 Td (Net ) Tj ET Q
q 0 0 0 rg BT 307.29 477.30 Td (Income ) Tj ET Q
q 0 0 0 rg BT 341.08 477.30 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 369.71 477.30 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 422.75 477.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 433.23 477.30 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 457.10 477.30 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 490.62 477.30 Td (Inc. ) Tj ET Q
q 0 0 0 rg BT 508.95 477.30 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 511.26 477.30 Td (Distribution ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 68.39 464.70 Td (service ) Tj ET Q
q 0 0 0 rg BT 101.85 464.70 Td (fees ) Tj ET Q
q 0 0 0 rg BT 122.49 464.70 Td (are ) Tj ET Q
q 0 0 0 rg BT 139.04 464.70 Td (received ) Tj ET Q
q 0 0 0 rg BT 178.33 464.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 194.30 464.70 Td (distributing ) Tj ET Q
q 0 0 0 rg BT 246.45 464.70 Td (investment ) Tj ET Q
q 0 0 0 rg BT 296.26 464.70 Td (products ) Tj ET Q
q 0 0 0 rg BT 336.15 464.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 355.04 464.70 Td (services, ) Tj ET Q
q 0 0 0 rg BT 395.22 464.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 411.19 464.70 Td (providing ) Tj ET Q
q 0 0 0 rg BT 455.76 464.70 Td (other ) Tj ET Q
q 0 0 0 rg BT 481.06 464.70 Td (support ) Tj ET Q
q 0 0 0 rg BT 516.29 464.70 Td (services ) Tj ET Q
q 0 0 0 rg BT 553.84 464.70 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 452.10 Td (investment ) Tj ET Q
q 0 0 0 rg BT 98.42 452.10 Td (portfolios, ) Tj ET Q
q 0 0 0 rg BT 144.71 452.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 156.29 452.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 171.38 452.10 Td (providing ) Tj ET Q
q 0 0 0 rg BT 215.05 452.10 Td (non-discretionary ) Tj ET Q
q 0 0 0 rg BT 291.94 452.10 Td (advisory ) Tj ET Q
q 0 0 0 rg BT 330.94 452.10 Td (services ) Tj ET Q
q 0 0 0 rg BT 367.60 452.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 382.68 452.10 Td (assets ) Tj ET Q
q 0 0 0 rg BT 410.02 452.10 Td (under ) Tj ET Q
q 0 0 0 rg BT 436.76 452.10 Td (advisement ) Tj ET Q
q 0 0 0 rg BT 487.42 452.10 Td (\("AUA"\), ) Tj ET Q
q 0 0 0 rg BT 531.20 452.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 549.20 452.10 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.50 Td (generally ) Tj ET Q
q 0 0 0 rg BT 91.59 439.50 Td (calculated ) Tj ET Q
q 0 0 0 rg BT 137.17 439.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 148.94 439.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 156.63 439.50 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 205.12 439.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 216.89 439.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 232.74 439.50 Td (assets ) Tj ET Q
q 0 0 0 rg BT 260.27 439.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 271.46 439.50 Td (an ) Tj ET Q
q 0 0 0 rg BT 284.39 439.50 Td (investment ) Tj ET Q
q 0 0 0 rg BT 333.50 439.50 Td (portfolio ) Tj ET Q
q 0 0 0 rg BT 373.27 439.50 Td (or ) Tj ET Q
q 0 0 0 rg BT 385.04 439.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 396.81 439.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 404.50 439.50 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 452.99 439.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 464.76 439.50 Td (new ) Tj ET Q
q 0 0 0 rg BT 485.28 439.50 Td (assets ) Tj ET Q
q 0 0 0 rg BT 512.80 439.50 Td (added ) Tj ET Q
q 0 0 0 rg BT 540.90 439.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 552.09 439.50 Td (an ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.90 Td (investment ) Tj ET Q
q 0 0 0 rg BT 97.81 426.90 Td (portfolio. ) Tj ET Q
q 0 0 0 rg BT 139.41 426.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 141.65 426.90 Td (Our ) Tj ET Q
q 0 0 0 rg BT 160.21 426.90 Td (revenues, ) Tj ET Q
q 0 0 0 rg BT 202.38 426.90 Td (therefore, ) Tj ET Q
q 0 0 0 rg BT 245.13 426.90 Td (are ) Tj ET Q
q 0 0 0 rg BT 260.18 426.90 Td (dependent ) Tj ET Q
q 0 0 0 rg BT 305.56 426.90 Td (upon ) Tj ET Q
q 0 0 0 rg BT 328.80 426.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 343.86 426.90 Td (level ) Tj ET Q
q 0 0 0 rg BT 366.50 426.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 377.48 426.90 Td (our ) Tj ET Q
q 0 0 0 rg BT 393.21 426.90 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 419.95 426.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 436.85 426.90 Td (AUA) Tj ET Q
q 0 0 0 rg BT 459.02 426.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 461.25 426.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 478.64 426.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 493.71 426.90 Td (related ) Tj ET Q
q 0 0 0 rg BT 524.50 426.90 Td (fee ) Tj ET Q
q 0 0 0 rg BT 539.55 426.90 Td (rates, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 68.35 414.30 Td (thus ) Tj ET Q
q 0 0 0 rg BT 89.54 414.30 Td (are ) Tj ET Q
q 0 0 0 rg BT 106.04 414.30 Td (af) Tj ET Q
q 0 0 0 rg BT 114.01 414.30 Td (fected ) Tj ET Q
q 0 0 0 rg BT 143.34 414.30 Td (by ) Tj ET Q
q 0 0 0 rg BT 157.53 414.30 Td (factors ) Tj ET Q
q 0 0 0 rg BT 189.78 414.30 Td (such ) Tj ET Q
q 0 0 0 rg BT 212.72 414.30 Td (as ) Tj ET Q
q 0 0 0 rg BT 225.15 414.30 Td (securities ) Tj ET Q
q 0 0 0 rg BT 268.49 414.30 Td (market ) Tj ET Q
q 0 0 0 rg BT 301.33 414.30 Td (conditions, ) Tj ET Q
q 0 0 0 rg BT 351.39 414.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 369.07 414.30 Td (ability ) Tj ET Q
q 0 0 0 rg BT 399.59 414.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 411.45 414.30 Td (attract ) Tj ET Q
q 0 0 0 rg BT 441.36 414.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 460.21 414.30 Td (maintain ) Tj ET Q
q 0 0 0 rg BT 499.82 414.30 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 528.01 414.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 546.86 414.30 Td (key ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.70 Td (investment ) Tj ET Q
q 0 0 0 rg BT 98.12 401.70 Td (personnel, ) Tj ET Q
q 0 0 0 rg BT 144.11 401.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 161.81 401.70 Td (investment ) Tj ET Q
q 0 0 0 rg BT 210.43 401.70 Td (performance. ) Tj ET Q
q 0 0 0 rg BT 268.65 401.70 Td (Our ) Tj ET Q
q 0 0 0 rg BT 286.96 401.70 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 314.01 401.70 Td (changes ) Tj ET Q
q 0 0 0 rg BT 350.37 401.70 Td (from ) Tj ET Q
q 0 0 0 rg BT 373.32 401.70 Td (period ) Tj ET Q
q 0 0 0 rg BT 402.69 401.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 413.40 401.70 Td (period ) Tj ET Q
q 0 0 0 rg BT 442.77 401.70 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 484.39 401.70 Td (due ) Tj ET Q
q 0 0 0 rg BT 502.09 401.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 512.80 401.70 Td (inflows ) Tj ET Q
q 0 0 0 rg BT 546.84 401.70 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 389.10 Td (outflows ) Tj ET Q
q 0 0 0 rg BT 88.60 389.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 99.69 389.10 Td (client ) Tj ET Q
q 0 0 0 rg BT 125.35 389.10 Td (assets ) Tj ET Q
q 0 0 0 rg BT 152.20 389.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 169.70 389.10 Td (market ) Tj ET Q
q 0 0 0 rg BT 201.20 389.10 Td (performance ) Tj ET Q
q 0 0 0 rg BT 256.59 389.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 267.68 389.10 Td (well ) Tj ET Q
q 0 0 0 rg BT 288.11 389.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 299.20 389.10 Td (changes ) Tj ET Q
q 0 0 0 rg BT 335.36 389.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 345.87 389.10 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 378.54 389.10 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 420.52 389.10 Td (rates. ) Tj ET Q
q 0 0 0 rg BT 445.32 389.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 447.66 389.10 Td (Client ) Tj ET Q
q 0 0 0 rg BT 475.67 389.10 Td (decisions ) Tj ET Q
q 0 0 0 rg BT 517.09 389.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 527.61 389.10 Td (increase ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.50 Td (or ) Tj ET Q
q 0 0 0 rg BT 61.07 376.50 Td (decrease ) Tj ET Q
q 0 0 0 rg BT 100.02 376.50 Td (their ) Tj ET Q
q 0 0 0 rg BT 122.08 376.50 Td (assets ) Tj ET Q
q 0 0 0 rg BT 149.40 376.50 Td (under ) Tj ET Q
q 0 0 0 rg BT 176.13 376.50 Td (our ) Tj ET Q
q 0 0 0 rg BT 192.95 376.50 Td (management, ) Tj ET Q
q 0 0 0 rg BT 252.04 376.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 270.02 376.50 Td (decisions ) Tj ET Q
q 0 0 0 rg BT 311.92 376.50 Td (by ) Tj ET Q
q 0 0 0 rg BT 325.23 376.50 Td (potential ) Tj ET Q
q 0 0 0 rg BT 364.80 376.50 Td (clients ) Tj ET Q
q 0 0 0 rg BT 395.03 376.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 406.01 376.50 Td (utilize ) Tj ET Q
q 0 0 0 rg BT 435.07 376.50 Td (our ) Tj ET Q
q 0 0 0 rg BT 451.89 376.50 Td (services, ) Tj ET Q
q 0 0 0 rg BT 491.15 376.50 Td (may ) Tj ET Q
q 0 0 0 rg BT 512.05 376.50 Td (be ) Tj ET Q
q 0 0 0 rg BT 524.78 376.50 Td (based ) Tj ET Q
q 0 0 0 rg BT 551.51 376.50 Td (on ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.90 Td (one ) Tj ET Q
q 0 0 0 rg BT 67.49 363.90 Td (or ) Tj ET Q
q 0 0 0 rg BT 79.07 363.90 Td (more ) Tj ET Q
q 0 0 0 rg BT 103.48 363.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 115.06 363.90 Td (a ) Tj ET Q
q 0 0 0 rg BT 122.55 363.90 Td (number ) Tj ET Q
q 0 0 0 rg BT 157.46 363.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 169.04 363.90 Td (factors. ) Tj ET Q
q 0 0 0 rg BT 203.06 363.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 205.69 363.90 Td (These ) Tj ET Q
q 0 0 0 rg BT 233.60 363.90 Td (factors ) Tj ET Q
q 0 0 0 rg BT 265.00 363.90 Td (include ) Tj ET Q
q 0 0 0 rg BT 298.74 363.90 Td (our ) Tj ET Q
q 0 0 0 rg BT 315.57 363.90 Td (reputation ) Tj ET Q
q 0 0 0 rg BT 360.97 363.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 371.97 363.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 387.63 363.90 Td (marketplace, ) Tj ET Q
q 0 0 0 rg BT 444.39 363.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 460.05 363.90 Td (investment ) Tj ET Q
q 0 0 0 rg BT 508.96 363.90 Td (performance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.30 Td (\(both ) Tj ET Q
q 0 0 0 rg BT 74.05 351.30 Td (absolute ) Tj ET Q
q 0 0 0 rg BT 111.43 351.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 128.97 351.30 Td (relative ) Tj ET Q
q 0 0 0 rg BT 162.84 351.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 173.39 351.30 Td (benchmarks ) Tj ET Q
q 0 0 0 rg BT 226.51 351.30 Td (or ) Tj ET Q
q 0 0 0 rg BT 237.64 351.30 Td (competitive ) Tj ET Q
q 0 0 0 rg BT 289.60 351.30 Td (products\) ) Tj ET Q
q 0 0 0 rg BT 331.64 351.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 342.77 351.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 359.15 351.30 Td (products ) Tj ET Q
q 0 0 0 rg BT 397.70 351.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 415.25 351.30 Td (services, ) Tj ET Q
q 0 0 0 rg BT 454.07 351.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 469.29 351.30 Td (fees ) Tj ET Q
q 0 0 0 rg BT 488.58 351.30 Td (we ) Tj ET Q
q 0 0 0 rg BT 503.21 351.30 Td (char) Tj ET Q
q 0 0 0 rg BT 521.08 351.30 Td (ge ) Tj ET Q
q 0 0 0 rg BT 533.38 351.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 548.01 351.30 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.70 Td (investment ) Tj ET Q
q 0 0 0 rg BT 98.74 338.70 Td (services, ) Tj ET Q
q 0 0 0 rg BT 138.35 338.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 154.34 338.70 Td (client ) Tj ET Q
q 0 0 0 rg BT 180.82 338.70 Td (or ) Tj ET Q
q 0 0 0 rg BT 192.73 338.70 Td (potential ) Tj ET Q
q 0 0 0 rg BT 232.63 338.70 Td (client's ) Tj ET Q
q 0 0 0 rg BT 265.10 338.70 Td (situation, ) Tj ET Q
q 0 0 0 rg BT 307.05 338.70 Td (including ) Tj ET Q
q 0 0 0 rg BT 349.88 338.70 Td (investment ) Tj ET Q
q 0 0 0 rg BT 399.12 338.70 Td (objectives, ) Tj ET Q
q 0 0 0 rg BT 447.48 338.70 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 486.22 338.70 Td (needs, ) Tj ET Q
q 0 0 0 rg BT 515.92 338.70 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 326.10 Td (horizon ) Tj ET Q
q 0 0 0 rg BT 83.43 326.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 100.45 326.10 Td (amount ) Tj ET Q
q 0 0 0 rg BT 133.80 326.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 144.41 326.10 Td (assets ) Tj ET Q
q 0 0 0 rg BT 170.76 326.10 Td (managed, ) Tj ET Q
q 0 0 0 rg BT 213.14 326.10 Td (our ) Tj ET Q
q 0 0 0 rg BT 229.00 326.10 Td (relationships ) Tj ET Q
q 0 0 0 rg BT 284.52 326.10 Td (with ) Tj ET Q
q 0 0 0 rg BT 305.04 326.10 Td (distributors ) Tj ET Q
q 0 0 0 rg BT 354.74 326.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 371.75 326.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 386.44 326.10 Td (external ) Tj ET Q
q 0 0 0 rg BT 422.11 326.10 Td (economic ) Tj ET Q
q 0 0 0 rg BT 464.78 326.10 Td (environment, ) Tj ET Q
q 0 0 0 rg BT 522.34 326.10 Td (including ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.50 Td (market ) Tj ET Q
q 0 0 0 rg BT 81.28 313.50 Td (conditions.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.30 Td (The ) Tj ET Q
q 0 0 0 rg BT 69.30 288.30 Td (fees ) Tj ET Q
q 0 0 0 rg BT 89.68 288.30 Td (that ) Tj ET Q
q 0 0 0 rg BT 108.90 288.30 Td (we ) Tj ET Q
q 0 0 0 rg BT 124.62 288.30 Td (char) Tj ET Q
q 0 0 0 rg BT 142.50 288.30 Td (ge ) Tj ET Q
q 0 0 0 rg BT 155.88 288.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 171.60 288.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 189.07 288.30 Td (investment ) Tj ET Q
q 0 0 0 rg BT 238.62 288.30 Td (services ) Tj ET Q
q 0 0 0 rg BT 275.92 288.30 Td (vary ) Tj ET Q
q 0 0 0 rg BT 298.05 288.30 Td (based ) Tj ET Q
q 0 0 0 rg BT 325.43 288.30 Td (upon ) Tj ET Q
q 0 0 0 rg BT 349.90 288.30 Td (factors ) Tj ET Q
q 0 0 0 rg BT 381.95 288.30 Td (such ) Tj ET Q
q 0 0 0 rg BT 404.67 288.30 Td (as ) Tj ET Q
q 0 0 0 rg BT 416.89 288.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 433.19 288.30 Td (type ) Tj ET Q
q 0 0 0 rg BT 454.75 288.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 466.97 288.30 Td (underlying ) Tj ET Q
q 0 0 0 rg BT 515.93 288.30 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.70 Td (product, ) Tj ET Q
q 0 0 0 rg BT 88.13 275.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 104.88 275.70 Td (amount ) Tj ET Q
q 0 0 0 rg BT 140.30 275.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 152.11 275.70 Td (AUM, ) Tj ET Q
q 0 0 0 rg BT 183.16 275.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 199.91 275.70 Td (asset ) Tj ET Q
q 0 0 0 rg BT 224.25 275.70 Td (management ) Tj ET Q
q 0 0 0 rg BT 281.82 275.70 Td (af) Tj ET Q
q 0 0 0 rg BT 289.79 275.70 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 318.20 275.70 Td (that ) Tj ET Q
q 0 0 0 rg BT 337.88 275.70 Td (provides ) Tj ET Q
q 0 0 0 rg BT 377.96 275.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 394.72 275.70 Td (services, ) Tj ET Q
q 0 0 0 rg BT 435.09 275.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 454.17 275.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 470.93 275.70 Td (type ) Tj ET Q
q 0 0 0 rg BT 492.93 275.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 505.60 275.70 Td (services ) Tj ET Q
q 0 0 0 rg BT 543.35 275.70 Td (\(and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 263.10 Td (investment ) Tj ET Q
q 0 0 0 rg BT 98.22 263.10 Td (objectives\) ) Tj ET Q
q 0 0 0 rg BT 146.93 263.10 Td (that ) Tj ET Q
q 0 0 0 rg BT 165.31 263.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 180.77 263.10 Td (provided. ) Tj ET Q
q 0 0 0 rg BT 223.36 263.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 226.00 263.10 Td (In ) Tj ET Q
q 0 0 0 rg BT 237.39 263.10 Td (general, ) Tj ET Q
q 0 0 0 rg BT 273.55 263.10 Td (fees ) Tj ET Q
q 0 0 0 rg BT 293.10 263.10 Td (earned ) Tj ET Q
q 0 0 0 rg BT 323.71 263.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 338.60 263.10 Td (asset ) Tj ET Q
q 0 0 0 rg BT 361.65 263.10 Td (management ) Tj ET Q
q 0 0 0 rg BT 417.94 263.10 Td (services ) Tj ET Q
q 0 0 0 rg BT 454.40 263.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 469.85 263.10 Td (highest ) Tj ET Q
q 0 0 0 rg BT 502.83 263.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 517.71 263.10 Td (alternative ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 250.50 Td (assets, ) Tj ET Q
q 0 0 0 rg BT 78.78 250.50 Td (followed ) Tj ET Q
q 0 0 0 rg BT 118.26 250.50 Td (by ) Tj ET Q
q 0 0 0 rg BT 130.91 250.50 Td (equity ) Tj ET Q
q 0 0 0 rg BT 159.31 250.50 Td (assets, ) Tj ET Q
q 0 0 0 rg BT 188.59 250.50 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 212.32 250.50 Td (income ) Tj ET Q
q 0 0 0 rg BT 245.38 250.50 Td (assets ) Tj ET Q
q 0 0 0 rg BT 272.03 250.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 289.35 250.50 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 327.09 250.50 Td (assets. ) Tj ET Q
q 0 0 0 rg BT 356.37 250.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 358.05 250.50 Td (Accordingly) Tj ET Q
q 0 0 0 rg BT 409.85 250.50 Td (, ) Tj ET Q
q 0 0 0 rg BT 414.63 250.50 Td (our ) Tj ET Q
q 0 0 0 rg BT 430.78 250.50 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 470.25 250.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 487.57 250.50 Td (average ) Tj ET Q
q 0 0 0 rg BT 522.36 250.50 Td (operating ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 237.90 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 85.23 237.90 Td (yields ) Tj ET Q
q 0 0 0 rg BT 112.80 237.90 Td (will ) Tj ET Q
q 0 0 0 rg BT 131.64 237.90 Td (be ) Tj ET Q
q 0 0 0 rg BT 144.04 237.90 Td (af) Tj ET Q
q 0 0 0 rg BT 152.01 237.90 Td (fected ) Tj ET Q
q 0 0 0 rg BT 180.16 237.90 Td (by ) Tj ET Q
q 0 0 0 rg BT 193.15 237.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 208.48 237.90 Td (composition ) Tj ET Q
q 0 0 0 rg BT 262.89 237.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 274.14 237.90 Td (our ) Tj ET Q
q 0 0 0 rg BT 290.08 237.90 Td (AUM, ) Tj ET Q
q 0 0 0 rg BT 319.70 237.90 Td (with ) Tj ET Q
q 0 0 0 rg BT 340.87 237.90 Td (changes ) Tj ET Q
q 0 0 0 rg BT 377.18 237.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 387.85 237.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 403.17 237.90 Td (relative ) Tj ET Q
q 0 0 0 rg BT 437.15 237.90 Td (level ) Tj ET Q
q 0 0 0 rg BT 460.05 237.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 471.30 237.90 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 518.10 237.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 535.76 237.90 Td (equity ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 225.30 Td (assets ) Tj ET Q
q 0 0 0 rg BT 75.88 225.30 Td (typically ) Tj ET Q
q 0 0 0 rg BT 114.51 225.30 Td (more ) Tj ET Q
q 0 0 0 rg BT 137.97 225.30 Td (significantly ) Tj ET Q
q 0 0 0 rg BT 192.34 225.30 Td (impacting ) Tj ET Q
q 0 0 0 rg BT 236.22 225.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 252.10 225.30 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 291.30 225.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 308.34 225.30 Td (average ) Tj ET Q
q 0 0 0 rg BT 342.87 225.30 Td (operating ) Tj ET Q
q 0 0 0 rg BT 384.40 225.30 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 419.52 225.30 Td (yields. ) Tj ET Q
q 0 0 0 rg BT 449.11 225.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 450.58 225.30 Td (A) Tj ET Q
q 0 0 0 rg BT 457.38 225.30 Td (verage ) Tj ET Q
q 0 0 0 rg BT 487.24 225.30 Td (operating ) Tj ET Q
q 0 0 0 rg BT 528.78 225.30 Td (revenue ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 212.70 Td (yields ) Tj ET Q
q 0 0 0 rg BT 76.75 212.70 Td (are ) Tj ET Q
q 0 0 0 rg BT 91.74 212.70 Td (calculated ) Tj ET Q
q 0 0 0 rg BT 136.47 212.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 147.39 212.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 162.39 212.70 Td (ratio ) Tj ET Q
q 0 0 0 rg BT 183.81 212.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 194.73 212.70 Td (annualized ) Tj ET Q
q 0 0 0 rg BT 242.38 212.70 Td (total ) Tj ET Q
q 0 0 0 rg BT 263.21 212.70 Td (operating ) Tj ET Q
q 0 0 0 rg BT 305.04 212.70 Td (revenue, ) Tj ET Q
q 0 0 0 rg BT 343.06 212.70 Td (less ) Tj ET Q
q 0 0 0 rg BT 360.99 212.70 Td (performance ) Tj ET Q
q 0 0 0 rg BT 416.21 212.70 Td (fees, ) Tj ET Q
q 0 0 0 rg BT 437.91 212.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 448.25 212.70 Td (average ) Tj ET Q
q 0 0 0 rg BT 482.58 212.70 Td (AUM. ) Tj ET Q
q 0 0 0 rg BT 511.88 212.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 514.05 212.70 Td (In ) Tj ET Q
q 0 0 0 rg BT 524.97 212.70 Td (addition, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 200.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.40 200.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 75.95 200.10 Td (ordinary ) Tj ET Q
q 0 0 0 rg BT 114.25 200.10 Td (course ) Tj ET Q
q 0 0 0 rg BT 144.38 200.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 155.86 200.10 Td (our ) Tj ET Q
q 0 0 0 rg BT 172.58 200.10 Td (business, ) Tj ET Q
q 0 0 0 rg BT 213.52 200.10 Td (we ) Tj ET Q
q 0 0 0 rg BT 228.49 200.10 Td (may ) Tj ET Q
q 0 0 0 rg BT 249.30 200.10 Td (reduce ) Tj ET Q
q 0 0 0 rg BT 280.00 200.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 291.48 200.10 Td (waive ) Tj ET Q
q 0 0 0 rg BT 319.28 200.10 Td (investment ) Tj ET Q
q 0 0 0 rg BT 368.08 200.10 Td (management ) Tj ET Q
q 0 0 0 rg BT 424.45 200.10 Td (fees ) Tj ET Q
q 0 0 0 rg BT 444.09 200.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 455.56 200.10 Td (total ) Tj ET Q
q 0 0 0 rg BT 476.95 200.10 Td (expenses, ) Tj ET Q
q 0 0 0 rg BT 520.21 200.10 Td (on ) Tj ET Q
q 0 0 0 rg BT 533.44 200.10 Td (certain ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 187.50 Td (products ) Tj ET Q
q 0 0 0 rg BT 88.60 187.50 Td (or ) Tj ET Q
q 0 0 0 rg BT 100.29 187.50 Td (services ) Tj ET Q
q 0 0 0 rg BT 137.05 187.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 152.24 187.50 Td (particular ) Tj ET Q
q 0 0 0 rg BT 195.40 187.50 Td (time ) Tj ET Q
q 0 0 0 rg BT 217.01 187.50 Td (periods ) Tj ET Q
q 0 0 0 rg BT 250.86 187.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 261.97 187.50 Td (limit ) Tj ET Q
q 0 0 0 rg BT 284.75 187.50 Td (fund ) Tj ET Q
q 0 0 0 rg BT 306.94 187.50 Td (expenses, ) Tj ET Q
q 0 0 0 rg BT 350.41 187.50 Td (or ) Tj ET Q
q 0 0 0 rg BT 362.10 187.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 377.28 187.50 Td (other ) Tj ET Q
q 0 0 0 rg BT 401.80 187.50 Td (reasons, ) Tj ET Q
q 0 0 0 rg BT 438.85 187.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 456.96 187.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 468.06 187.50 Td (help ) Tj ET Q
q 0 0 0 rg BT 489.08 187.50 Td (retain ) Tj ET Q
q 0 0 0 rg BT 515.93 187.50 Td (or ) Tj ET Q
q 0 0 0 rg BT 527.62 187.50 Td (increase ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 174.90 Td (managed ) Tj ET Q
q 0 0 0 rg BT 89.66 174.90 Td (assets. ) Tj ET Q
q 0 0 0 rg BT 119.04 174.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 121.29 174.90 Td (Our ) Tj ET Q
q 0 0 0 rg BT 139.88 174.90 Td (industry ) Tj ET Q
q 0 0 0 rg BT 176.56 174.90 Td (continues ) Tj ET Q
q 0 0 0 rg BT 219.06 174.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 229.48 174.90 Td (be ) Tj ET Q
q 0 0 0 rg BT 241.65 174.90 Td (impacted ) Tj ET Q
q 0 0 0 rg BT 282.39 174.90 Td (by ) Tj ET Q
q 0 0 0 rg BT 295.15 174.90 Td (disruption ) Tj ET Q
q 0 0 0 rg BT 339.99 174.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 357.41 174.90 Td (challenges, ) Tj ET Q
q 0 0 0 rg BT 406.61 174.90 Td (with ) Tj ET Q
q 0 0 0 rg BT 427.53 174.90 Td (continued ) Tj ET Q
q 0 0 0 rg BT 471.19 174.90 Td (migration ) Tj ET Q
q 0 0 0 rg BT 514.28 174.90 Td (from ) Tj ET Q
q 0 0 0 rg BT 536.95 174.90 Td (active ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 162.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.60 162.30 Td (passive ) Tj ET Q
q 0 0 0 rg BT 94.43 162.30 Td (strategies ) Tj ET Q
q 0 0 0 rg BT 137.02 162.30 Td (\(which ) Tj ET Q
q 0 0 0 rg BT 169.10 162.30 Td (tend ) Tj ET Q
q 0 0 0 rg BT 190.11 162.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 201.20 162.30 Td (have ) Tj ET Q
q 0 0 0 rg BT 223.95 162.30 Td (lower ) Tj ET Q
q 0 0 0 rg BT 250.79 162.30 Td (fees\), ) Tj ET Q
q 0 0 0 rg BT 276.74 162.30 Td (which, ) Tj ET Q
q 0 0 0 rg BT 307.95 162.30 Td (together ) Tj ET Q
q 0 0 0 rg BT 345.29 162.30 Td (with ) Tj ET Q
q 0 0 0 rg BT 366.88 162.30 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 412.96 162.30 Td (reform, ) Tj ET Q
q 0 0 0 rg BT 447.08 162.30 Td (continue ) Tj ET Q
q 0 0 0 rg BT 486.16 162.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 497.26 162.30 Td (put ) Tj ET Q
q 0 0 0 rg BT 513.60 162.30 Td (pressure ) Tj ET Q
q 0 0 0 rg BT 551.52 162.30 Td (on ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 149.70 Td (fees. ) Tj ET Q
q 0 0 0 rg BT 71.65 149.70 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 124.50 Td (W) Tj ET Q
q 0 0 0 rg BT 58.57 124.50 Td (e ) Tj ET Q
q 0 0 0 rg BT 66.81 124.50 Td (have ) Tj ET Q
q 0 0 0 rg BT 90.21 124.50 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 127.02 124.50 Td (sharing ) Tj ET Q
q 0 0 0 rg BT 161.51 124.50 Td (arrangements ) Tj ET Q
q 0 0 0 rg BT 221.65 124.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 233.40 124.50 Td (place ) Tj ET Q
q 0 0 0 rg BT 259.13 124.50 Td (with ) Tj ET Q
q 0 0 0 rg BT 281.37 124.50 Td (certain ) Tj ET Q
q 0 0 0 rg BT 313.52 124.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 325.84 124.50 Td (our ) Tj ET Q
q 0 0 0 rg BT 343.42 124.50 Td (asset ) Tj ET Q
q 0 0 0 rg BT 367.41 124.50 Td (management ) Tj ET Q
q 0 0 0 rg BT 424.64 124.50 Td (af) Tj ET Q
q 0 0 0 rg BT 432.61 124.50 Td (filiates, ) Tj ET Q
q 0 0 0 rg BT 467.38 124.50 Td (under ) Tj ET Q
q 0 0 0 rg BT 494.87 124.50 Td (which ) Tj ET Q
q 0 0 0 rg BT 524.11 124.50 Td (specified ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 111.90 Td (percentages ) Tj ET Q
q 0 0 0 rg BT 101.64 111.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 112.97 111.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 128.38 111.90 Td (af) Tj ET Q
q 0 0 0 rg BT 136.34 111.90 Td (filiates' ) Tj ET Q
q 0 0 0 rg BT 169.39 111.90 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 209.29 111.90 Td (are ) Tj ET Q
q 0 0 0 rg BT 224.69 111.90 Td (required ) Tj ET Q
q 0 0 0 rg BT 262.25 111.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 273.00 111.90 Td (be ) Tj ET Q
q 0 0 0 rg BT 285.50 111.90 Td (distributed ) Tj ET Q
q 0 0 0 rg BT 332.99 111.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 343.74 111.90 Td (us ) Tj ET Q
q 0 0 0 rg BT 355.66 111.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 373.41 111.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 388.82 111.90 Td (balance ) Tj ET Q
q 0 0 0 rg BT 423.46 111.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 434.79 111.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 450.20 111.90 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 490.10 111.90 Td (is ) Tj ET Q
q 0 0 0 rg BT 499.68 111.90 Td (retained ) Tj ET Q
q 0 0 0 rg BT 536.08 111.90 Td (by ) Tj ET Q
q 0 0 0 rg BT 549.16 111.90 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 99.30 Td (af) Tj ET Q
q 0 0 0 rg BT 57.47 99.30 Td (filiates ) Tj ET Q
q 0 0 0 rg BT 89.42 99.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 100.97 99.30 Td (pay ) Tj ET Q
q 0 0 0 rg BT 119.51 99.30 Td (their ) Tj ET Q
q 0 0 0 rg BT 142.14 99.30 Td (operating ) Tj ET Q
q 0 0 0 rg BT 185.17 99.30 Td (expenses, ) Tj ET Q
q 0 0 0 rg BT 229.08 99.30 Td (including ) Tj ET Q
q 0 0 0 rg BT 272.13 99.30 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 333.83 99.30 Td (expenses, ) Tj ET Q
q 0 0 0 rg BT 377.74 99.30 Td (but ) Tj ET Q
q 0 0 0 rg BT 394.54 99.30 Td (excluding ) Tj ET Q
q 0 0 0 rg BT 439.33 99.30 Td (certain ) Tj ET Q
q 0 0 0 rg BT 471.27 99.30 Td (expenses ) Tj ET Q
q 0 0 0 rg BT 512.56 99.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 531.10 99.30 Td (income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 86.70 Td (taxes. ) Tj ET Q
q 0 0 0 rg BT 76.10 86.70 Td ( ) Tj ET Q
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q 0 0 0 rg BT 486.64 552.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 497.20 552.75 Td (global ) Tj ET Q
q 0 0 0 rg BT 525.27 552.75 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (markets. ) Tj ET Q
q 0 0 0 rg BT 88.66 540.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 91.96 540.15 Td (Results ) Tj ET Q
q 0 0 0 rg BT 126.18 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 138.22 540.15 Td (any ) Tj ET Q
q 0 0 0 rg BT 156.68 540.15 Td (individual ) Tj ET Q
q 0 0 0 rg BT 202.56 540.15 Td (period ) Tj ET Q
q 0 0 0 rg BT 232.68 540.15 Td (should ) Tj ET Q
q 0 0 0 rg BT 263.99 540.15 Td (not ) Tj ET Q
q 0 0 0 rg BT 280.70 540.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 293.91 540.15 Td (considered ) Tj ET Q
q 0 0 0 rg BT 342.69 540.15 Td (representative ) Tj ET Q
q 0 0 0 rg BT 404.87 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 416.92 540.15 Td (future ) Tj ET Q
q 0 0 0 rg BT 445.29 540.15 Td (results. ) Tj ET Q
q 0 0 0 rg BT 478.62 540.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 481.92 540.15 Td (Our ) Tj ET Q
q 0 0 0 rg BT 501.55 540.15 Td (profitability ) Tj ET Q
q 0 0 0 rg BT 555.01 540.15 Td (is ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (sensitive ) Tj ET Q
q 0 0 0 rg BT 88.87 527.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 99.65 527.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 106.93 527.55 Td (variety ) Tj ET Q
q 0 0 0 rg BT 138.70 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 150.07 527.55 Td (factors, ) Tj ET Q
q 0 0 0 rg BT 183.88 527.55 Td (including ) Tj ET Q
q 0 0 0 rg BT 226.16 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 241.61 527.55 Td (amount ) Tj ET Q
q 0 0 0 rg BT 275.72 527.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 293.50 527.55 Td (composition ) Tj ET Q
q 0 0 0 rg BT 348.04 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 359.40 527.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 375.44 527.55 Td (AUM, ) Tj ET Q
q 0 0 0 rg BT 405.19 527.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 422.97 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 438.41 527.55 Td (volatility ) Tj ET Q
q 0 0 0 rg BT 478.95 527.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 496.73 527.55 Td (general ) Tj ET Q
q 0 0 0 rg BT 530.24 527.55 Td (level ) Tj ET Q
q 0 0 0 rg BT 553.27 527.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (securities ) Tj ET Q
q 0 0 0 rg BT 91.38 514.95 Td (prices, ) Tj ET Q
q 0 0 0 rg BT 121.30 514.95 Td (interest ) Tj ET Q
q 0 0 0 rg BT 154.44 514.95 Td (rates, ) Tj ET Q
q 0 0 0 rg BT 179.11 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 196.50 514.95 Td (changes ) Tj ET Q
q 0 0 0 rg BT 232.54 514.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 242.94 514.95 Td (currency ) Tj ET Q
q 0 0 0 rg BT 281.89 514.95 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 323.76 514.95 Td (rates, ) Tj ET Q
q 0 0 0 rg BT 348.43 514.95 Td (among ) Tj ET Q
q 0 0 0 rg BT 379.24 514.95 Td (other ) Tj ET Q
q 0 0 0 rg BT 403.04 514.95 Td (things. ) Tj ET Q
q 0 0 0 rg BT 433.56 514.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 435.79 514.95 Td (Periods ) Tj ET Q
q 0 0 0 rg BT 469.51 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 480.49 514.95 Td (unfavorable ) Tj ET Q
q 0 0 0 rg BT 532.86 514.95 Td (market ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (conditions ) Tj ET Q
q 0 0 0 rg BT 95.62 502.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 110.82 502.35 Td (likely ) Tj ET Q
q 0 0 0 rg BT 137.11 502.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 147.65 502.35 Td (have ) Tj ET Q
q 0 0 0 rg BT 169.84 502.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 182.13 502.35 Td (adverse ) Tj ET Q
q 0 0 0 rg BT 216.57 502.35 Td (ef) Tj ET Q
q 0 0 0 rg BT 224.54 502.35 Td (fect ) Tj ET Q
q 0 0 0 rg BT 242.65 502.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 255.52 502.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 271.89 502.35 Td (profitability) Tj ET Q
q 0 0 0 rg BT 321.37 502.35 Td (. ) Tj ET Q
q 0 0 0 rg BT 326.37 502.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 328.75 502.35 Td (In ) Tj ET Q
q 0 0 0 rg BT 339.87 502.35 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 379.28 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 394.48 502.35 Td (diversification ) Tj ET Q
q 0 0 0 rg BT 457.51 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 468.63 502.35 Td (services, ) Tj ET Q
q 0 0 0 rg BT 507.45 502.35 Td (vehicles, ) Tj ET Q
q 0 0 0 rg BT 546.85 502.35 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (products ) Tj ET Q
q 0 0 0 rg BT 87.92 489.75 Td (of) Tj ET Q
q 0 0 0 rg BT 96.48 489.75 Td (fered, ) Tj ET Q
q 0 0 0 rg BT 122.92 489.75 Td (investment ) Tj ET Q
q 0 0 0 rg BT 171.26 489.75 Td (performance, ) Tj ET Q
q 0 0 0 rg BT 229.19 489.75 Td (access ) Tj ET Q
q 0 0 0 rg BT 258.26 489.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 268.69 489.75 Td (distribution ) Tj ET Q
q 0 0 0 rg BT 319.36 489.75 Td (channels, ) Tj ET Q
q 0 0 0 rg BT 360.98 489.75 Td (reputation ) Tj ET Q
q 0 0 0 rg BT 405.81 489.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 416.24 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 431.32 489.75 Td (market, ) Tj ET Q
q 0 0 0 rg BT 465.36 489.75 Td (attraction ) Tj ET Q
q 0 0 0 rg BT 507.26 489.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 524.68 489.75 Td (retention ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.84 477.15 Td (key ) Tj ET Q
q 0 0 0 rg BT 78.59 477.15 Td (employees ) Tj ET Q
q 0 0 0 rg BT 126.08 477.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 143.83 477.15 Td (client ) Tj ET Q
q 0 0 0 rg BT 169.74 477.15 Td (relations ) Tj ET Q
q 0 0 0 rg BT 208.49 477.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 223.90 477.15 Td (significant ) Tj ET Q
q 0 0 0 rg BT 270.81 477.15 Td (factors ) Tj ET Q
q 0 0 0 rg BT 301.97 477.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 312.72 477.15 Td (determining ) Tj ET Q
q 0 0 0 rg BT 366.05 477.15 Td (whether ) Tj ET Q
q 0 0 0 rg BT 402.46 477.15 Td (we ) Tj ET Q
q 0 0 0 rg BT 417.29 477.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 432.70 477.15 Td (successful ) Tj ET Q
q 0 0 0 rg BT 478.44 477.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 489.20 477.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 504.62 477.15 Td (attraction ) Tj ET Q
q 0 0 0 rg BT 546.85 477.15 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (retention ) Tj ET Q
q 0 0 0 rg BT 89.66 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 101.24 464.55 Td (clients. ) Tj ET Q
q 0 0 0 rg BT 134.11 464.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 136.94 464.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 139.78 464.55 Td (In ) Tj ET Q
q 0 0 0 rg BT 151.36 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 167.02 464.55 Td (last ) Tj ET Q
q 0 0 0 rg BT 184.44 464.55 Td (few ) Tj ET Q
q 0 0 0 rg BT 203.02 464.55 Td (years, ) Tj ET Q
q 0 0 0 rg BT 230.63 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 246.30 464.55 Td (industry ) Tj ET Q
q 0 0 0 rg BT 283.55 464.55 Td (has ) Tj ET Q
q 0 0 0 rg BT 300.38 464.55 Td (seen ) Tj ET Q
q 0 0 0 rg BT 321.88 464.55 Td (flows ) Tj ET Q
q 0 0 0 rg BT 348.04 464.55 Td (into ) Tj ET Q
q 0 0 0 rg BT 367.21 464.55 Td (products ) Tj ET Q
q 0 0 0 rg BT 406.21 464.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 421.29 464.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 449.79 464.55 Td (we ) Tj ET Q
q 0 0 0 rg BT 464.87 464.55 Td (do ) Tj ET Q
q 0 0 0 rg BT 478.20 464.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 494.45 464.55 Td (currently ) Tj ET Q
q 0 0 0 rg BT 535.19 464.55 Td (garner ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (significant ) Tj ET Q
q 0 0 0 rg BT 96.07 451.95 Td (market ) Tj ET Q
q 0 0 0 rg BT 127.47 451.95 Td (share, ) Tj ET Q
q 0 0 0 rg BT 154.50 451.95 Td (including, ) Tj ET Q
q 0 0 0 rg BT 199.03 451.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 209.45 451.95 Td (particular) Tj ET Q
q 0 0 0 rg BT 249.25 451.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 254.13 451.95 Td (passive ) Tj ET Q
q 0 0 0 rg BT 287.29 451.95 Td (products, ) Tj ET Q
q 0 0 0 rg BT 328.32 451.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 345.73 451.95 Td (corresponding ) Tj ET Q
q 0 0 0 rg BT 408.04 451.95 Td (flows ) Tj ET Q
q 0 0 0 rg BT 433.62 451.95 Td (out ) Tj ET Q
q 0 0 0 rg BT 449.29 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 460.28 451.95 Td (products ) Tj ET Q
q 0 0 0 rg BT 498.69 451.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 509.10 451.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 537.01 451.95 Td (we ) Tj ET Q
q 0 0 0 rg BT 551.50 451.95 Td (do ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (have ) Tj ET Q
q 0 0 0 rg BT 71.95 439.35 Td (market ) Tj ET Q
q 0 0 0 rg BT 103.72 439.35 Td (share. ) Tj ET Q
q 0 0 0 rg BT 131.13 439.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 69.08 414.15 Td (financial ) Tj ET Q
q 0 0 0 rg BT 109.07 414.15 Td (services ) Tj ET Q
q 0 0 0 rg BT 146.14 414.15 Td (business ) Tj ET Q
q 0 0 0 rg BT 184.99 414.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 196.41 414.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 225.33 414.15 Td (we ) Tj ET Q
q 0 0 0 rg BT 240.83 414.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 256.90 414.15 Td (engaged ) Tj ET Q
q 0 0 0 rg BT 295.14 414.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 305.40 414.15 Td (extremely ) Tj ET Q
q 0 0 0 rg BT 350.63 414.15 Td (competitive. ) Tj ET Q
q 0 0 0 rg BT 406.08 414.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 409.34 414.15 Td (Our ) Tj ET Q
q 0 0 0 rg BT 428.92 414.15 Td (competition ) Tj ET Q
q 0 0 0 rg BT 482.34 414.15 Td (includes ) Tj ET Q
q 0 0 0 rg BT 520.59 414.15 Td (numerous ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (global, ) Tj ET Q
q 0 0 0 rg BT 81.26 401.55 Td (national, ) Tj ET Q
q 0 0 0 rg BT 120.60 401.55 Td (regional ) Tj ET Q
q 0 0 0 rg BT 157.89 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 175.94 401.55 Td (local ) Tj ET Q
q 0 0 0 rg BT 199.24 401.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 222.54 401.55 Td (management ) Tj ET Q
q 0 0 0 rg BT 279.08 401.55 Td (firms, ) Tj ET Q
q 0 0 0 rg BT 306.76 401.55 Td (commercial ) Tj ET Q
q 0 0 0 rg BT 359.21 401.55 Td (banks, ) Tj ET Q
q 0 0 0 rg BT 389.22 401.55 Td (insurance ) Tj ET Q
q 0 0 0 rg BT 432.34 401.55 Td (companies, ) Tj ET Q
q 0 0 0 rg BT 482.76 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 500.81 401.55 Td (other ) Tj ET Q
q 0 0 0 rg BT 525.27 401.55 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (services ) Tj ET Q
q 0 0 0 rg BT 85.30 388.95 Td (companies. ) Tj ET Q
q 0 0 0 rg BT 134.82 388.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 136.66 388.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 154.97 388.95 Td (industry ) Tj ET Q
q 0 0 0 rg BT 191.37 388.95 Td (continues ) Tj ET Q
q 0 0 0 rg BT 233.60 388.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 243.75 388.95 Td (experience ) Tj ET Q
q 0 0 0 rg BT 291.20 388.95 Td (disruption ) Tj ET Q
q 0 0 0 rg BT 335.77 388.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 352.91 388.95 Td (challenges, ) Tj ET Q
q 0 0 0 rg BT 401.84 388.95 Td (including ) Tj ET Q
q 0 0 0 rg BT 443.48 388.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 450.13 388.95 Td (shift ) Tj ET Q
q 0 0 0 rg BT 470.78 388.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 480.93 388.95 Td (lower) Tj ET Q
q 0 0 0 rg BT 504.63 388.95 Td (-fee ) Tj ET Q
q 0 0 0 rg BT 522.93 388.95 Td (passively ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (managed ) Tj ET Q
q 0 0 0 rg BT 91.08 376.35 Td (products, ) Tj ET Q
q 0 0 0 rg BT 133.54 376.35 Td (increased ) Tj ET Q
q 0 0 0 rg BT 176.86 376.35 Td (fee ) Tj ET Q
q 0 0 0 rg BT 193.35 376.35 Td (pressure ) Tj ET Q
q 0 0 0 rg BT 232.02 376.35 Td (\(including ) Tj ET Q
q 0 0 0 rg BT 278.85 376.35 Td (pressure ) Tj ET Q
q 0 0 0 rg BT 317.51 376.35 Td (arising ) Tj ET Q
q 0 0 0 rg BT 349.77 376.35 Td (from ) Tj ET Q
q 0 0 0 rg BT 373.86 376.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 390.36 376.35 Td (shift ) Tj ET Q
q 0 0 0 rg BT 412.71 376.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 424.55 376.35 Td (lower ) Tj ET Q
q 0 0 0 rg BT 452.13 376.35 Td (fee ) Tj ET Q
q 0 0 0 rg BT 468.63 376.35 Td (passive ) Tj ET Q
q 0 0 0 rg BT 503.21 376.35 Td (products\), ) Tj ET Q
q 0 0 0 rg BT 549.17 376.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (increased ) Tj ET Q
q 0 0 0 rg BT 91.57 363.75 Td (role ) Tj ET Q
q 0 0 0 rg BT 110.33 363.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 121.51 363.75 Td (technology ) Tj ET Q
q 0 0 0 rg BT 170.60 363.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 181.20 363.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 204.04 363.75 Td (management ) Tj ET Q
q 0 0 0 rg BT 260.12 363.75 Td (services, ) Tj ET Q
q 0 0 0 rg BT 298.99 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 314.25 363.75 Td (constant ) Tj ET Q
q 0 0 0 rg BT 351.68 363.75 Td (introduction ) Tj ET Q
q 0 0 0 rg BT 405.43 363.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 416.61 363.75 Td (new ) Tj ET Q
q 0 0 0 rg BT 436.54 363.75 Td (products ) Tj ET Q
q 0 0 0 rg BT 475.13 363.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 492.72 363.75 Td (services, ) Tj ET Q
q 0 0 0 rg BT 531.60 363.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 549.19 363.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (consolidation ) Tj ET Q
q 0 0 0 rg BT 108.70 351.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 120.07 351.15 Td (financial ) Tj ET Q
q 0 0 0 rg BT 159.42 351.15 Td (services ) Tj ET Q
q 0 0 0 rg BT 195.86 351.15 Td (firms ) Tj ET Q
q 0 0 0 rg BT 220.65 351.15 Td (through ) Tj ET Q
q 0 0 0 rg BT 255.94 351.15 Td (mer) Tj ET Q
q 0 0 0 rg BT 272.07 351.15 Td (gers ) Tj ET Q
q 0 0 0 rg BT 292.19 351.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 309.97 351.15 Td (acquisitions. ) Tj ET Q
q 0 0 0 rg BT 365.38 351.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 367.82 351.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 386.76 351.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 409.80 351.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 466.07 351.15 Td (industry ) Tj ET Q
q 0 0 0 rg BT 503.11 351.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 512.73 351.15 Td (also ) Tj ET Q
q 0 0 0 rg BT 532.27 351.15 Td (subject ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 59.73 338.55 Td (extensive ) Tj ET Q
q 0 0 0 rg BT 101.45 338.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 118.68 338.55 Td (evolving ) Tj ET Q
q 0 0 0 rg BT 157.49 338.55 Td (regulation ) Tj ET Q
q 0 0 0 rg BT 202.13 338.55 Td (under ) Tj ET Q
q 0 0 0 rg BT 228.10 338.55 Td (federal, ) Tj ET Q
q 0 0 0 rg BT 261.94 338.55 Td (state, ) Tj ET Q
q 0 0 0 rg BT 285.87 338.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 303.10 338.55 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 335.49 338.55 Td (laws. ) Tj ET Q
q 0 0 0 rg BT 359.42 338.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 361.49 338.55 Td (Like ) Tj ET Q
q 0 0 0 rg BT 382.80 338.55 Td (most ) Tj ET Q
q 0 0 0 rg BT 405.29 338.55 Td (firms, ) Tj ET Q
q 0 0 0 rg BT 432.14 338.55 Td (we ) Tj ET Q
q 0 0 0 rg BT 446.45 338.55 Td (have ) Tj ET Q
q 0 0 0 rg BT 468.34 338.55 Td (been ) Tj ET Q
q 0 0 0 rg BT 490.23 338.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 507.46 338.55 Td (will ) Tj ET Q
q 0 0 0 rg BT 525.86 338.55 Td (continue ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 61.42 325.95 Td (be ) Tj ET Q
q 0 0 0 rg BT 75.08 325.95 Td (impacted ) Tj ET Q
q 0 0 0 rg BT 117.32 325.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 131.57 325.95 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 178.47 325.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 197.38 325.95 Td (legislative ) Tj ET Q
q 0 0 0 rg BT 244.29 325.95 Td (changes. ) Tj ET Q
q 0 0 0 rg BT 284.48 325.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 288.23 325.95 Td (Responding ) Tj ET Q
q 0 0 0 rg BT 342.15 325.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 354.07 325.95 Td (these ) Tj ET Q
q 0 0 0 rg BT 379.40 325.95 Td (changes ) Tj ET Q
q 0 0 0 rg BT 416.97 325.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 435.88 325.95 Td (keeping ) Tj ET Q
q 0 0 0 rg BT 472.87 325.95 Td (abreast ) Tj ET Q
q 0 0 0 rg BT 506.36 325.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 518.85 325.95 Td (regulatory ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (developments, ) Tj ET Q
q 0 0 0 rg BT 111.93 313.35 Td (has ) Tj ET Q
q 0 0 0 rg BT 127.41 313.35 Td (required, ) Tj ET Q
q 0 0 0 rg BT 166.51 313.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 183.15 313.35 Td (will ) Tj ET Q
q 0 0 0 rg BT 200.97 313.35 Td (continue ) Tj ET Q
q 0 0 0 rg BT 238.61 313.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 248.27 313.35 Td (require, ) Tj ET Q
q 0 0 0 rg BT 282.11 313.35 Td (us ) Tj ET Q
q 0 0 0 rg BT 292.93 313.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 302.58 313.35 Td (incur ) Tj ET Q
q 0 0 0 rg BT 325.64 313.35 Td (costs ) Tj ET Q
q 0 0 0 rg BT 348.13 313.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 365.36 313.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 395.42 313.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 410.90 313.35 Td (profitability) Tj ET Q
q 0 0 0 rg BT 460.38 313.35 Td (. ) Tj ET Q
q 0 0 0 rg BT 464.49 313.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 465.98 313.35 Td (For ) Tj ET Q
q 0 0 0 rg BT 482.05 313.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 488.19 313.35 Td (further ) Tj ET Q
q 0 0 0 rg BT 518.25 313.35 Td (discussion ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.87 300.75 Td (factors ) Tj ET Q
q 0 0 0 rg BT 92.06 300.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 110.44 300.75 Td (may ) Tj ET Q
q 0 0 0 rg BT 131.14 300.75 Td (af) Tj ET Q
q 0 0 0 rg BT 139.11 300.75 Td (fect ) Tj ET Q
q 0 0 0 rg BT 157.47 300.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 174.09 300.75 Td (results ) Tj ET Q
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q 0 0 0 rg BT 320.39 325.15 Td (most ) Tj ET Q
q 0 0 0 rg BT 343.44 325.15 Td (recently ) Tj ET Q
q 0 0 0 rg BT 379.88 325.15 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 418.65 325.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 441.69 325.15 Td (managers;) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 81.00 312.55 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 99.00 312.55 Td (expanding ) Tj ET Q
q 0 0 0 rg BT 145.36 312.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 161.41 312.55 Td (Alternative ) Tj ET Q
q 0 0 0 rg BT 211.26 312.55 Td (Distribution ) Tj ET Q
q 0 0 0 rg BT 264.64 312.55 Td (Strategies ) Tj ET Q
q 0 0 0 rg BT 308.67 312.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 325.88 312.55 Td (Alternative ) Tj ET Q
q 0 0 0 rg BT 375.74 312.55 Td (Product ) Tj ET Q
q 0 0 0 rg BT 411.03 312.55 Td (teams ) Tj ET Q
q 0 0 0 rg BT 438.14 312.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 459.44 312.55 Td (strategic ) Tj ET Q
q 0 0 0 rg BT 497.63 312.55 Td (hires; ) Tj ET Q
q 0 0 0 rg BT 523.58 312.55 Td (and) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 81.00 299.95 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 99.00 299.95 Td (investing ) Tj ET Q
q 0 0 0 rg BT 140.12 299.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 150.92 299.95 Td (technology ) Tj ET Q
q 0 0 0 rg BT 200.20 299.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 210.99 299.95 Td (enhance ) Tj ET Q
q 0 0 0 rg BT 248.01 299.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 264.63 299.95 Td (capabilities ) Tj ET Q
q 0 0 0 rg BT 315.07 299.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 332.86 299.95 Td (expand ) Tj ET Q
q 0 0 0 rg BT 365.80 299.95 Td (choice ) Tj ET Q
q 0 0 0 rg BT 395.83 299.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 410.70 299.95 Td (global ) Tj ET Q
q 0 0 0 rg BT 439.57 299.95 Td (investors. ) Tj ET Q
q 0 0 0 rg BT 482.73 299.95 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 274.75 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.69 274.75 Td (investor ) Tj ET Q
q 0 0 0 rg BT 100.05 274.75 Td (interest ) Tj ET Q
q 0 0 0 rg BT 133.48 274.75 Td (has ) Tj ET Q
q 0 0 0 rg BT 150.00 274.75 Td (trended ) Tj ET Q
q 0 0 0 rg BT 184.01 274.75 Td (away ) Tj ET Q
q 0 0 0 rg BT 208.69 274.75 Td (from ) Tj ET Q
q 0 0 0 rg BT 231.62 274.75 Td (traditional ) Tj ET Q
q 0 0 0 rg BT 277.30 274.75 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 308.99 274.75 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 337.47 274.75 Td (we ) Tj ET Q
q 0 0 0 rg BT 352.24 274.75 Td (intend ) Tj ET Q
q 0 0 0 rg BT 381.00 274.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 391.70 274.75 Td (continue ) Tj ET Q
q 0 0 0 rg BT 430.38 274.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 441.07 274.75 Td (focus ) Tj ET Q
q 0 0 0 rg BT 466.34 274.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 479.36 274.75 Td (increasing ) Tj ET Q
q 0 0 0 rg BT 525.03 274.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 541.55 274.75 Td (ETF) Tj ET Q
q 0 0 0 rg BT 559.38 274.75 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 262.15 Td (alternative, ) Tj ET Q
q 0 0 0 rg BT 99.06 262.15 Td (separately ) Tj ET Q
q 0 0 0 rg BT 144.24 262.15 Td (managed ) Tj ET Q
q 0 0 0 rg BT 184.77 262.15 Td (account, ) Tj ET Q
q 0 0 0 rg BT 222.67 262.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 240.45 262.15 Td (mulit-asset ) Tj ET Q
q 0 0 0 rg BT 289.16 262.15 Td (solutions ) Tj ET Q
q 0 0 0 rg BT 329.71 262.15 Td (product ) Tj ET Q
q 0 0 0 rg BT 364.41 262.15 Td (of) Tj ET Q
q 0 0 0 rg BT 372.96 262.15 Td (ferings ) Tj ET Q
q 0 0 0 rg BT 404.75 262.15 Td (during ) Tj ET Q
q 0 0 0 rg BT 434.79 262.15 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 460.15 262.15 Td (2019.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 236.95 Td (Net ) Tj ET Q
q 0 0 0 rg BT 67.32 236.95 Td (Income ) Tj ET Q
q 0 0 0 rg BT 100.88 236.95 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 154.28 236.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 165.11 236.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 189.35 236.95 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 223.22 236.95 Td (Inc. ) Tj ET Q
q 0 0 0 rg BT 241.92 236.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 256.82 236.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 272.31 236.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 293.04 236.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 320.77 236.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 350.84 236.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 366.63 236.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 392.91 236.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 411.91 236.95 Td ($285.1 ) Tj ET Q
q 0 0 0 rg BT 443.44 236.95 Td (million, ) Tj ET Q
q 0 0 0 rg BT 479.07 236.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 490.48 236.95 Td ($3.01 ) Tj ET Q
q 0 0 0 rg BT 516.76 236.95 Td (per ) Tj ET Q
q 0 0 0 rg BT 532.83 236.95 Td (diluted ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 224.35 Td (share, ) Tj ET Q
q 0 0 0 rg BT 76.13 224.35 Td (compared ) Tj ET Q
q 0 0 0 rg BT 119.37 224.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 129.39 224.35 Td ($227.3 ) Tj ET Q
q 0 0 0 rg BT 160.12 224.35 Td (million, ) Tj ET Q
q 0 0 0 rg BT 194.93 224.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 205.52 224.35 Td ($2.18 ) Tj ET Q
q 0 0 0 rg BT 231.00 224.35 Td (per ) Tj ET Q
q 0 0 0 rg BT 246.26 224.35 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 277.27 224.35 Td (share ) Tj ET Q
q 0 0 0 rg BT 301.27 224.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 315.37 224.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 330.04 224.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 349.96 224.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 376.88 224.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 406.14 224.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 421.11 224.35 Td (2017.� ) Tj ET Q
q 0 0 0 rg BT 449.08 224.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 467.25 224.35 Td (increase ) Tj ET Q
q 0 0 0 rg BT 503.49 224.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 513.51 224.35 Td (Net ) Tj ET Q
q 0 0 0 rg BT 530.52 224.35 Td (Income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 211.75 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 103.06 211.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 114.04 211.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 138.43 211.75 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 172.46 211.75 Td (Inc. ) Tj ET Q
q 0 0 0 rg BT 191.31 211.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 210.46 211.75 Td (lar) Tj ET Q
q 0 0 0 rg BT 221.34 211.75 Td (gely ) Tj ET Q
q 0 0 0 rg BT 242.24 211.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 257.88 211.75 Td (result ) Tj ET Q
q 0 0 0 rg BT 284.03 211.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 295.59 211.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 303.07 211.75 Td ($213.7 ) Tj ET Q
q 0 0 0 rg BT 334.76 211.75 Td (million, ) Tj ET Q
q 0 0 0 rg BT 370.54 211.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 382.11 211.75 Td ($2.26 ) Tj ET Q
q 0 0 0 rg BT 408.55 211.75 Td (per ) Tj ET Q
q 0 0 0 rg BT 424.77 211.75 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 456.75 211.75 Td (share, ) Tj ET Q
q 0 0 0 rg BT 484.35 211.75 Td (one-time, ) Tj ET Q
q 0 0 0 rg BT 527.11 211.75 Td (net ) Tj ET Q
q 0 0 0 rg BT 542.76 211.75 Td (non-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 199.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 71.11 199.15 Td (provisional ) Tj ET Q
q 0 0 0 rg BT 121.30 199.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 137.08 199.15 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 169.18 199.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 200.69 199.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 211.81 199.15 Td (H.R. ) Tj ET Q
q 0 0 0 rg BT 234.60 199.15 Td (1 ) Tj ET Q
q 0 0 0 rg BT 242.80 199.15 Td ("An ) Tj ET Q
q 0 0 0 rg BT 262.21 199.15 Td (Act ) Tj ET Q
q 0 0 0 rg BT 280.32 199.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 291.44 199.15 Td (Provide ) Tj ET Q
q 0 0 0 rg BT 327.05 199.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 342.25 199.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 358.02 199.15 Td (Reconciliation ) Tj ET Q
q 0 0 0 rg BT 422.21 199.15 Td (Pursuant ) Tj ET Q
q 0 0 0 rg BT 461.91 199.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 472.81 199.15 Td (T) Tj ET Q
q 0 0 0 rg BT 478.86 199.15 Td (itles ) Tj ET Q
q 0 0 0 rg BT 499.30 199.15 Td (II ) Tj ET Q
q 0 0 0 rg BT 509.25 199.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 527.14 199.15 Td (V) Tj ET Q
q 0 0 0 rg BT 534.54 199.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 537.49 199.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 549.18 199.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 186.55 Td (Concurrent ) Tj ET Q
q 0 0 0 rg BT 99.78 186.55 Td (Resolution ) Tj ET Q
q 0 0 0 rg BT 148.34 186.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 161.89 186.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 177.76 186.55 Td (Budget ) Tj ET Q
q 0 0 0 rg BT 211.14 186.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 226.44 186.55 Td (Fiscal ) Tj ET Q
q 0 0 0 rg BT 254.12 186.55 Td (Y) Tj ET Q
q 0 0 0 rg BT 260.65 186.55 Td (ear ) Tj ET Q
q 0 0 0 rg BT 276.52 186.55 Td (2018" ) Tj ET Q
q 0 0 0 rg BT 304.85 186.55 Td (\(the ) Tj ET Q
q 0 0 0 rg BT 324.22 186.55 Td ("T) Tj ET Q
q 0 0 0 rg BT 334.19 186.55 Td (ax ) Tj ET Q
q 0 0 0 rg BT 347.15 186.55 Td (Law"\), ) Tj ET Q
q 0 0 0 rg BT 379.27 186.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 407.98 186.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 427.36 186.55 Td (enacted ) Tj ET Q
q 0 0 0 rg BT 462.47 186.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 476.01 186.55 Td (December ) Tj ET Q
q 0 0 0 rg BT 522.20 186.55 Td (22, ) Tj ET Q
q 0 0 0 rg BT 538.38 186.55 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 564.63 186.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 173.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.13 173.95 Td (years ) Tj ET Q
q 0 0 0 rg BT 92.59 173.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 119.96 173.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 149.67 173.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 165.10 173.95 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 188.41 173.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 205.87 173.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 231.80 173.95 Td (also ) Tj ET Q
q 0 0 0 rg BT 251.02 173.95 Td (included ) Tj ET Q
q 0 0 0 rg BT 289.48 173.95 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 340.19 173.95 Td (char) Tj ET Q
q 0 0 0 rg BT 358.07 173.95 Td (ges ) Tj ET Q
q 0 0 0 rg BT 374.37 173.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 405.24 173.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 415.71 173.95 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 460.01 173.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 486.81 173.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 497.86 173.95 Td ($229.0 ) Tj ET Q
q 0 0 0 rg BT 529.04 173.95 Td (million, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 161.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 60.91 161.35 Td ($1.96 ) Tj ET Q
q 0 0 0 rg BT 87.20 161.35 Td (per ) Tj ET Q
q 0 0 0 rg BT 103.28 161.35 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 135.11 161.35 Td (share, ) Tj ET Q
q 0 0 0 rg BT 162.55 161.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 180.38 161.35 Td ($35.0 ) Tj ET Q
q 0 0 0 rg BT 206.67 161.35 Td (million, ) Tj ET Q
q 0 0 0 rg BT 242.30 161.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 253.71 161.35 Td ($0.26 ) Tj ET Q
q 0 0 0 rg BT 280.00 161.35 Td (per ) Tj ET Q
q 0 0 0 rg BT 296.07 161.35 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 327.90 161.35 Td (share, ) Tj ET Q
q 0 0 0 rg BT 355.35 161.35 Td (respectively; ) Tj ET Q
q 0 0 0 rg BT 411.66 161.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 429.49 161.35 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 482.32 161.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 493.15 161.35 Td (decrease ) Tj ET Q
q 0 0 0 rg BT 531.95 161.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 547.45 161.35 Td (fair ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 148.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 75.39 148.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 87.29 148.75 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 134.76 148.75 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 194.48 148.75 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 236.71 148.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 250.36 148.75 Td ($31.3 ) Tj ET Q
q 0 0 0 rg BT 277.13 148.75 Td (million, ) Tj ET Q
q 0 0 0 rg BT 313.25 148.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 325.14 148.75 Td ($0.33 ) Tj ET Q
q 0 0 0 rg BT 351.92 148.75 Td (per ) Tj ET Q
q 0 0 0 rg BT 368.48 148.75 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 400.79 148.75 Td (share, ) Tj ET Q
q 0 0 0 rg BT 428.72 148.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 447.03 148.75 Td ($39.5 ) Tj ET Q
q 0 0 0 rg BT 473.81 148.75 Td (million, ) Tj ET Q
q 0 0 0 rg BT 509.92 148.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 521.82 148.75 Td ($0.36 ) Tj ET Q
q 0 0 0 rg BT 548.59 148.75 Td (per ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 136.15 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 81.31 136.15 Td (share, ) Tj ET Q
q 0 0 0 rg BT 108.74 136.15 Td (respectively) Tj ET Q
q 0 0 0 rg BT 158.79 136.15 Td (. ) Tj ET Q
q 0 0 0 rg BT 164.07 136.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 166.53 136.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 185.50 136.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 206.22 136.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 233.94 136.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 264.00 136.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 279.77 136.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 306.05 136.15 Td (included ) Tj ET Q
q 0 0 0 rg BT 344.86 136.15 Td (transition-related ) Tj ET Q
q 0 0 0 rg BT 419.23 136.15 Td (costs ) Tj ET Q
q 0 0 0 rg BT 442.88 136.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 454.28 136.15 Td ($7.0 ) Tj ET Q
q 0 0 0 rg BT 475.31 136.15 Td (million, ) Tj ET Q
q 0 0 0 rg BT 510.92 136.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 522.32 136.15 Td ($0.05 ) Tj ET Q
q 0 0 0 rg BT 548.59 136.15 Td (per ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 123.55 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 80.81 123.55 Td (share, ) Tj ET Q
q 0 0 0 rg BT 107.74 123.55 Td (associated ) Tj ET Q
q 0 0 0 rg BT 153.04 123.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 173.85 123.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 188.83 123.55 Td (combination ) Tj ET Q
q 0 0 0 rg BT 243.47 123.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 254.21 123.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 272.68 123.55 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 304.57 123.55 Td (Group ) Tj ET Q
q 0 0 0 rg BT 333.55 123.55 Td (\("Permal"\) ) Tj ET Q
q 0 0 0 rg BT 381.01 123.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 401.83 123.55 Td (EnT) Tj ET Q
q 0 0 0 rg BT 419.53 123.55 Td (rust ) Tj ET Q
q 0 0 0 rg BT 437.43 123.55 Td (Capital ) Tj ET Q
q 0 0 0 rg BT 469.91 123.55 Td (\("EnT) Tj ET Q
q 0 0 0 rg BT 495.40 123.55 Td (rust"\), ) Tj ET Q
q 0 0 0 rg BT 523.71 123.55 Td (while ) Tj ET Q
q 0 0 0 rg BT 549.18 123.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 110.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 70.36 110.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 98.22 110.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 128.41 110.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 144.32 110.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 170.74 110.95 Td (included ) Tj ET Q
q 0 0 0 rg BT 209.68 110.95 Td ($75.1 ) Tj ET Q
q 0 0 0 rg BT 236.10 110.95 Td (million, ) Tj ET Q
q 0 0 0 rg BT 271.85 110.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 283.39 110.95 Td ($0.48 ) Tj ET Q
q 0 0 0 rg BT 309.80 110.95 Td (per ) Tj ET Q
q 0 0 0 rg BT 326.00 110.95 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 357.95 110.95 Td (share, ) Tj ET Q
q 0 0 0 rg BT 385.52 110.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 397.05 110.95 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 445.92 110.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 463.87 110.95 Td (transition-related ) Tj ET Q
q 0 0 0 rg BT 538.38 110.95 Td (costs, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 98.35 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 91.64 98.35 Td (associated ) Tj ET Q
q 0 0 0 rg BT 137.85 98.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 159.58 98.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 175.47 98.35 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 228.70 98.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 240.51 98.35 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 275.07 98.35 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 312.54 98.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 330.77 98.35 Td (EnT) Tj ET Q
q 0 0 0 rg BT 348.48 98.35 Td (rust, ) Tj ET Q
q 0 0 0 rg BT 369.91 98.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 388.14 98.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 404.03 98.35 Td (combination ) Tj ET Q
q 0 0 0 rg BT 459.58 98.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 471.40 98.35 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 504.20 98.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 525.93 98.35 Td (EnT) Tj ET Q
q 0 0 0 rg BT 543.64 98.35 Td (rust. ) Tj ET Q
q 0 0 0 rg BT 564.64 98.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 85.75 Td (These ) Tj ET Q
q 0 0 0 rg BT 77.20 85.75 Td (items ) Tj ET Q
q 0 0 0 rg BT 102.57 85.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 118.01 85.75 Td (more ) Tj ET Q
q 0 0 0 rg BT 142.21 85.75 Td (fully ) Tj ET Q
q 0 0 0 rg BT 164.67 85.75 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 207.54 85.75 Td (below) Tj ET Q
q 0 0 0 rg BT 232.52 85.75 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 60.55 Td (In ) Tj ET Q
q 0 0 0 rg BT 60.83 60.55 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 100.45 60.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 111.20 60.55 Td (connection ) Tj ET Q
q 0 0 0 rg BT 159.85 60.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 181.11 60.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 196.52 60.55 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 242.25 60.55 Td (matter ) Tj ET Q
q 0 0 0 rg BT 271.66 60.55 Td (discussed ) Tj ET Q
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BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
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BT /F2 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 140.90 741.75 Td (sets ) Tj ET Q
q 0 0 0 rg BT 159.76 741.75 Td (forth, ) Tj ET Q
q 0 0 0 rg BT 185.91 741.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 201.27 741.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 217.21 741.75 Td (periods ) Tj ET Q
q 0 0 0 rg BT 251.23 741.75 Td (indicated, ) Tj ET Q
q 0 0 0 rg BT 295.45 741.75 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 334.15 741.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 345.43 741.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 361.37 741.75 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 419.89 741.75 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 469.08 741.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 480.94 741.75 Td (Income ) Tj ET Q
q 0 0 0 rg BT 515.54 741.75 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 545.48 741.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 557.34 741.75 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 729.15 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 101.53 729.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 112.34 729.15 Td (operating ) Tj ET Q
q 0 0 0 rg BT 154.06 729.15 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 193.44 729.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 210.67 729.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 225.56 729.15 Td (increase ) Tj ET Q
q 0 0 0 rg BT 262.02 729.15 Td (\(decrease\) ) Tj ET Q
q 0 0 0 rg BT 307.21 729.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 319.78 729.15 Td (item ) Tj ET Q
q 0 0 0 rg BT 340.51 729.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 351.32 729.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 358.04 729.15 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 405.58 729.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 416.39 729.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 431.28 729.15 Td (amount ) Tj ET Q
q 0 0 0 rg BT 464.84 729.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 479.15 729.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 494.04 729.15 Td (previous ) Tj ET Q
q 0 0 0 rg BT 532.27 729.15 Td (period:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 667.65 225.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 667.65 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 667.65 48.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 667.65 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 667.65 51.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 667.65 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 667.65 49.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 667.65 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 667.65 63.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 667.65 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 667.65 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 640.65 225.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 640.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 640.65 48.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 640.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 640.65 51.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 640.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 640.65 49.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 640.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 640.65 63.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 640.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 640.65 57.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 612.65 225.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 612.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 612.65 48.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 612.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 612.65 51.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 612.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 612.65 49.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 612.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 612.65 63.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 612.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 612.65 57.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 584.65 225.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 584.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 584.65 48.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 584.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 584.65 51.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 584.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 584.65 49.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 584.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 584.65 63.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 584.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 584.65 57.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 556.65 225.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 556.65 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 556.65 48.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 556.65 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 556.65 51.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 556.65 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 556.65 49.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 556.65 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 556.65 63.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 556.65 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 556.65 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 529.65 225.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 529.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 529.65 48.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 529.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 529.65 51.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 529.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 529.65 49.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 529.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 529.65 63.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 529.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 529.65 57.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 501.65 225.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 501.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 501.65 48.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 501.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 501.65 51.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 501.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 501.65 49.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 501.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 501.65 63.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 501.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 501.65 57.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 473.65 225.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 473.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 473.65 48.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 473.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 473.65 51.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 473.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 473.65 49.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 473.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 473.65 63.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 473.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 473.65 57.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 445.65 225.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 445.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 445.65 48.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 445.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 445.65 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 445.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 445.65 49.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 445.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 445.65 63.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 445.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 445.65 57.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 416.65 225.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 416.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 416.65 48.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 416.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 416.65 51.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 416.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 416.65 49.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 416.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 416.65 63.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 416.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 416.65 57.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 388.65 225.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 388.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 388.65 48.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 388.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 388.65 51.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 388.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 388.65 49.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 388.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 388.65 63.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 388.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 388.65 57.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 361.65 225.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 361.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 361.65 48.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 361.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 361.65 51.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 361.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 361.65 49.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 361.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 361.65 63.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 361.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 361.65 57.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 333.65 225.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 333.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 333.65 48.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 333.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 333.65 51.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 333.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 333.65 49.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 333.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 333.65 63.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 333.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 333.65 57.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 295.65 225.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 295.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 295.65 48.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 295.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 295.65 51.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 295.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 295.65 49.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 295.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 295.65 63.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 295.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 295.65 57.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 256.65 225.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 256.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 256.65 48.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 256.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 256.65 51.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 256.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 256.65 49.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 256.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 256.65 63.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 256.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 256.65 57.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 228.65 225.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.00 228.65 4.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 228.65 48.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 228.65 4.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 228.65 51.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 228.65 4.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 228.65 49.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 228.65 4.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 228.65 63.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 228.65 4.00 -24.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 228.65 57.00 -24.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279 705.65 m
327 705.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
327 705.65 m
331 705.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
331 705.65 m
382 705.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
382 705.65 m
386 705.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 705.65 m
435 705.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439 705.65 m
502 705.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 705.65 m
506 705.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
506 705.65 m
563 705.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 667.65 m
275 667.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279 667.65 m
327 667.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
331 667.65 m
382 667.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 667.65 m
435 667.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439 667.65 m
502 667.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
506 667.65 m
563 667.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 667.65 m
275 667.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279 570.65 m
327 570.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
331 570.65 m
382 570.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 570.65 m
435 570.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 570.65 m
275 570.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 556.65 m
275 556.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279 556.65 m
327 556.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
331 556.65 m
382 556.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 556.65 m
435 556.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 515.65 m
275 515.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279 515.65 m
327 515.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
331 515.65 m
382 515.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 515.65 m
435 515.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279 515.65 m
327 515.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
331 515.65 m
382 515.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 515.65 m
435 515.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 402.65 m
275 402.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279 402.65 m
327 402.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
331 402.65 m
382 402.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 402.65 m
435 402.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 388.65 m
275 388.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279 388.65 m
327 388.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
331 388.65 m
382 388.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 388.65 m
435 388.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 374.65 m
275 374.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279 374.65 m
327 374.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
331 374.65 m
382 374.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 374.65 m
435 374.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 295.65 m
275 295.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279 295.65 m
327 295.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
331 295.65 m
382 295.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 295.65 m
435 295.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 281.65 m
275 281.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279 281.65 m
327 281.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
331 281.65 m
382 281.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 281.65 m
435 281.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 242.64999999999998 m
275 242.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279 242.64999999999998 m
327 242.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
331 242.64999999999998 m
382 242.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 242.64999999999998 m
435 242.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 204.64999999999998 m
275 204.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279 204.64999999999998 m
327 204.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
331 204.64999999999998 m
382 204.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 204.64999999999998 m
435 204.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 180.64999999999998 m
275 180.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279 180.64999999999998 m
327 180.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
331 180.64999999999998 m
382 180.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 180.64999999999998 m
435 180.64999999999998 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 283.75 708.87 Td (Percentage of Operating Revenues) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 445.00 708.87 Td (Period to Period Change) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 547.95 713.63 Td (\(1\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 307.15 684.42 Td (Y) Tj ET Q
q 0 0 0 rg BT 314.21 684.42 Td (ears Ended March�31,) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 459.50 693.44 Td (2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 446.15 682.94 Td (Compar) Tj ET Q
q 0 0 0 rg BT 483.29 682.94 Td (ed ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 453.80 672.44 Td (to 2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.50 693.42 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 512.10 682.92 Td (Compared) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 518.10 672.42 Td (to 2016) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 292.00 670.09 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.50 669.92 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 399.50 669.92 Td (2016) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 52.50 658.04 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 101.21 658.04 Td (Revenues) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 644.87 Td (Investment advisory fees:) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 64.50 630.87 Td (Separate accounts) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 297.60 631.04 Td (32.5) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 316.00 631.04 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 352.60 630.87 Td (32.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 372.75 630.87 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.85 630.87 Td (31.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 425.75 630.87 Td (%) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 480.50 631.04 Td (10) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 491.00 631.04 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 543.25 630.87 Td (12) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 553.75 630.87 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 64.50 616.87 Td (Funds) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 297.60 617.04 Td (49.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 352.60 616.87 Td (51.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.85 616.87 Td (53.0) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 485.75 617.04 Td (6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 548.50 616.87 Td (5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 64.50 602.87 Td (Performance fees) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 302.85 603.04 Td (7.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 357.85 602.87 Td (3.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.10 602.87 Td (1.6) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 474.95 603.04 Td (n/m) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 537.15 602.87 Td (n/m) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 588.87 Td (Distribution and service fees) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 297.60 589.04 Td (10.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 352.60 588.87 Td (12.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.85 588.87 Td (14.3) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 477.00 589.04 Td (\(12) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 491.00 589.04 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 545.00 588.87 Td (\(4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 553.75 588.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 574.87 Td (Other) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 302.85 575.04 Td (0.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 357.85 574.87 Td (0.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.10 574.87 Td (0.1) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 485.75 575.04 Td (6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 537.15 574.87 Td (n/m) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 64.50 560.87 Td (T) Tj ET Q
q 0 0 0 rg BT 70.55 560.87 Td (otal Operating Revenues) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 292.35 561.04 Td (100.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 347.35 560.87 Td (100.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 398.60 560.87 Td (100.0) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 485.75 561.04 Td (9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 548.50 560.87 Td (8) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 52.50 547.04 Td (Operating Expenses) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 533.87 Td (Compensation and benefits) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 297.60 534.04 Td (47.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 352.60 533.87 Td (47.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.85 533.87 Td (44.1) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 485.75 534.04 Td (9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 543.25 533.87 Td (17) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 519.87 Td (T) Tj ET Q
q 0 0 0 rg BT 64.73 519.87 Td (ransition-related compensation) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 302.85 520.04 Td (0.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 357.85 519.87 Td (1.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.10 519.87 Td (1.2) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 477.00 520.04 Td (\(79) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 491.00 520.04 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.75 519.87 Td (\(15) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 553.75 519.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 505.87 Td (   ) Tj ET Q
q 0 0 0 rg BT 66.28 505.87 Td (T) Tj ET Q
q 0 0 0 rg BT 72.23 505.87 Td (otal Compensation and Benefits) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 297.60 506.04 Td (48.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 352.60 505.87 Td (48.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.85 505.87 Td (45.3) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 485.75 506.04 Td (8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 543.25 505.87 Td (16) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 491.87 Td (Distribution and servicing) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 297.60 492.04 Td (15.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 352.60 491.87 Td (17.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.85 491.87 Td (20.5) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 482.25 492.04 Td (\(2) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 491.00 492.04 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 545.00 491.87 Td (\(9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 553.75 491.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 477.87 Td (Communications and technology) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 302.85 478.04 Td (6.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 357.85 477.87 Td (7.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.10 477.87 Td (7.4) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 485.75 478.04 Td (2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 548.50 477.87 Td (6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 463.87 Td (Occupancy) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 302.85 464.04 Td (3.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 357.85 463.87 Td (3.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.10 463.87 Td (4.6) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 477.00 464.04 Td (\(1) Tj ET Q
q 0 0 0 rg BT 485.75 464.04 Td (1) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 491.00 464.04 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 545.00 463.87 Td (\(7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 553.75 463.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 201.50 566.37 Td (High ) Tj ET Q
q 0 0 0 rg BT 224.93 566.37 Td (Y) Tj ET Q
q 0 0 0 rg BT 232.03 566.37 Td (ield) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 551.82 Td (-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 63.50 550.37 Td (Mid Cap ) Tj ET Q
q 0 0 0 rg BT 103.07 550.37 Td (V) Tj ET Q
q 0 0 0 rg BT 109.98 550.37 Td (alue) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 192.00 551.82 Td (-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 201.50 550.37 Td (U.S. Long Duration) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 535.82 Td (-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 63.50 534.37 Td (Small Cap ) Tj ET Q
q 0 0 0 rg BT 110.07 534.37 Td (V) Tj ET Q
q 0 0 0 rg BT 116.98 534.37 Td (alue) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 192.00 535.82 Td (-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 201.50 534.37 Td (U.S. Limited Duration) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 519.82 Td (-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 63.50 518.37 Td (Emer) Tj ET Q
q 0 0 0 rg BT 86.14 518.37 Td (ging Markets Equity) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 192.00 519.82 Td (-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 201.50 518.37 Td (Emer) Tj ET Q
q 0 0 0 rg BT 224.14 518.37 Td (ging Markets Debt) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 503.82 Td (-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 63.50 502.37 Td (Small Cap Growth) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 487.82 Td (-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 63.50 486.37 Td (Global Equity) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 456.90 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.45 456.90 Td (components ) Tj ET Q
q 0 0 0 rg BT 121.82 456.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 133.19 456.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 148.64 456.90 Td (changes ) Tj ET Q
q 0 0 0 rg BT 185.09 456.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 195.88 456.90 Td (our ) Tj ET Q
q 0 0 0 rg BT 211.92 456.90 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 239.05 456.90 Td (\(in ) Tj ET Q
q 0 0 0 rg BT 253.34 456.90 Td (billions\) ) Tj ET Q
q 0 0 0 rg BT 290.96 456.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 305.83 456.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 321.29 456.90 Td (years ) Tj ET Q
q 0 0 0 rg BT 346.07 456.90 Td (ended ) Tj ET Q
q 0 0 0 rg BT 373.76 456.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 403.79 456.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 419.54 456.90 Td (were ) Tj ET Q
q 0 0 0 rg BT 442.57 456.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 453.94 456.90 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 432.40 360.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
410.00 432.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
414.00 432.40 46.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
460.00 432.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
464.00 432.40 47.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.00 432.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
515.00 432.40 47.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 404.40 360.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
410.00 404.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
414.00 404.40 46.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
460.00 404.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
464.00 404.40 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.00 404.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
515.00 404.40 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 375.40 360.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
410.00 375.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
414.00 375.40 46.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
460.00 375.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
464.00 375.40 47.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.00 375.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
515.00 375.40 47.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 346.40 360.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
410.00 346.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
414.00 346.40 46.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
460.00 346.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
464.00 346.40 47.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.00 346.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
515.00 346.40 47.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 318.40 360.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
410.00 318.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
414.00 318.40 46.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
460.00 318.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
464.00 318.40 47.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.00 318.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
515.00 318.40 47.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 290.40 360.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
410.00 290.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
414.00 290.40 46.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
460.00 290.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
464.00 290.40 47.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.00 290.40 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
515.00 290.40 47.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 261.40 360.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
410.00 261.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
414.00 261.40 46.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
460.00 261.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
464.00 261.40 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.00 261.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
515.00 261.40 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 232.40 360.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
410.00 232.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
414.00 232.40 46.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
460.00 232.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
464.00 232.40 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.00 232.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
515.00 232.40 47.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 432.4 m
410 432.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
414 432.4 m
460 432.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
464 432.4 m
511 432.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
515 432.4 m
562 432.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
464 432.4 m
511 432.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
515 432.4 m
562 432.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 346.4 m
410 346.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
414 346.4 m
460 346.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
464 346.4 m
511 346.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
515 346.4 m
562 346.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
464 346.4 m
511 346.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
515 346.4 m
562 346.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 304.4 m
410 304.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
414 304.4 m
460 304.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
464 304.4 m
511 304.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
515 304.4 m
562 304.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 290.4 m
410 290.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
414 290.4 m
460 290.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
464 304.4 m
511 304.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
464 290.4 m
511 290.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
515 304.4 m
562 304.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
515 290.4 m
562 290.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 217.39999999999998 m
410 217.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
414 217.39999999999998 m
460 217.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
464 217.39999999999998 m
511 217.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
515 217.39999999999998 m
562 217.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 203.39999999999998 m
410 203.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
414 203.39999999999998 m
460 203.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
464 203.39999999999998 m
511 203.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
515 203.39999999999998 m
562 203.39999999999998 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 436.62 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 426.00 436.79 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 476.50 436.62 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 527.50 436.62 Td (2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 422.62 Td (Beginning of period) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 416.50 422.79 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 432.35 422.79 Td (728.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 466.50 422.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 483.35 422.62 Td (669.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 517.50 422.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 422.62 Td (702.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 408.62 Td (Net client cash flows) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 394.17 Td (Investment funds, excluding liquidity funds:) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 262.86 398.93 Td (\(1\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 456.50 394.19 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 507.50 394.17 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 394.17 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 88.50 379.62 Td (Subscriptions) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 437.60 379.79 Td (65.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 488.60 379.62 Td (64.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.60 379.62 Td (50.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 88.50 365.62 Td (Redemptions) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 434.10 365.79 Td (\(56.5) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 456.00 365.79 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 485.10 365.62 Td (\(65.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 507.00 365.62 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 365.62 Td (\(62.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 365.62 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 351.17 Td (Long-term separate account flows, net) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 237.73 355.93 Td (\(2\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 439.35 351.19 Td (\(7.0) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 456.00 351.19 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 490.35 351.17 Td (\(0.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 507.00 351.17 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.85 351.17 Td (0.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 336.62 Td (T) Tj ET Q
q 0 0 0 rg BT 73.55 336.62 Td (otal long-term flows) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 442.85 336.79 Td (1.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 490.35 336.62 Td (\(1.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 507.00 336.62 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 336.62 Td (\(1) Tj ET Q
q 0 0 0 rg BT 544.85 336.62 Td (1.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 336.62 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 322.62 Td (Liquidity fund flows, net) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 434.10 322.79 Td (\(25.5) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 456.00 322.79 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 485.10 322.62 Td (\(27.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 507.00 322.62 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 322.62 Td (\(15.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 322.62 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 308.62 Td (Liquidity separate account flows, net) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 442.85 308.79 Td (1.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 493.85 308.62 Td (0.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.85 308.62 Td (0.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 294.62 Td (T) Tj ET Q
q 0 0 0 rg BT 73.18 294.62 Td (otal liquidity flows) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 434.10 294.79 Td (\(24.3) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 456.00 294.79 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 485.10 294.62 Td (\(27.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 507.00 294.62 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 294.62 Td (\(14.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 294.62 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 280.62 Td (T) Tj ET Q
q 0 0 0 rg BT 64.55 280.62 Td (otal net client cash flows) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 434.10 280.79 Td (\(22.6) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 456.00 280.79 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 485.10 280.62 Td (\(28.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 507.00 280.62 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 280.62 Td (\(26.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 280.62 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 266.17 Td (Realizations) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 110.40 270.93 Td (\(3\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 439.35 266.19 Td (\(2.6) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 456.00 266.19 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.50 266.17 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 547.50 266.17 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 251.17 Td (Market performance and other ) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 189.11 255.93 Td (\(4\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 437.60 251.19 Td (45.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 488.60 251.17 Td (42.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 251.17 Td (\(15.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 251.17 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 236.62 Td (Impact of foreign exchange) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 442.85 236.79 Td (5.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 490.35 236.62 Td (\(1.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 507.00 236.62 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.85 236.62 Td (1.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 222.17 Td (Acquisitions \(dispositions\), net ) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 192.09 226.93 Td (\(5\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 439.35 222.19 Td (\(0.2) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 456.00 222.19 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 488.60 222.17 Td (46.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.85 222.17 Td (6.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 207.62 Td (End of period) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 116.24 212.38 Td (\(2\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 416.50 207.79 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 432.35 207.79 Td (754.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 466.50 207.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 483.35 207.62 Td (728.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 517.50 207.62 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 207.62 Td (669.6) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 194.30 Td (\(1\)) Tj ET Q
BT /F1 8.00 Tf ET
BT /F1 5.20 Tf ET
q 0 0 0 rg BT 58.83 197.92 Td ( ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 194.30 Td (Subscriptions ) Tj ET Q
q 0 0 0 rg BT 113.06 194.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 126.61 194.30 Td (redemptions ) Tj ET Q
q 0 0 0 rg BT 168.16 194.30 Td (reflect ) Tj ET Q
q 0 0 0 rg BT 190.58 194.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 202.36 194.30 Td (gross ) Tj ET Q
q 0 0 0 rg BT 221.25 194.30 Td (activity ) Tj ET Q
q 0 0 0 rg BT 247.24 194.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 255.46 194.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 267.23 194.30 Td (funds ) Tj ET Q
q 0 0 0 rg BT 287.01 194.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 300.56 194.30 Td (include ) Tj ET Q
q 0 0 0 rg BT 326.11 194.30 Td (assets ) Tj ET Q
q 0 0 0 rg BT 346.77 194.30 Td (transferred ) Tj ET Q
q 0 0 0 rg BT 383.42 194.30 Td (between ) Tj ET Q
q 0 0 0 rg BT 412.07 194.30 Td (funds ) Tj ET Q
q 0 0 0 rg BT 431.85 194.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 445.40 194.30 Td (between ) Tj ET Q
q 0 0 0 rg BT 474.05 194.30 Td (share ) Tj ET Q
q 0 0 0 rg BT 492.93 194.30 Td (classes. ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 184.70 Td (\(2\) ) Tj ET Q
q 0 0 0 rg BT 67.50 184.70 Td (As ) Tj ET Q
q 0 0 0 rg BT 78.44 184.70 Td (further ) Tj ET Q
q 0 0 0 rg BT 102.26 184.70 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 134.97 184.70 Td (below) Tj ET Q
q 0 0 0 rg BT 154.00 184.70 Td (, ) Tj ET Q
q 0 0 0 rg BT 158.05 184.70 Td (due ) Tj ET Q
q 0 0 0 rg BT 171.66 184.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 179.93 184.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 185.53 184.70 Td (change ) Tj ET Q
q 0 0 0 rg BT 210.23 184.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 218.51 184.70 Td (our ) Tj ET Q
q 0 0 0 rg BT 231.22 184.70 Td (policy ) Tj ET Q
q 0 0 0 rg BT 253.27 184.70 Td (on ) Tj ET Q
q 0 0 0 rg BT 263.32 184.70 Td (classification ) Tj ET Q
q 0 0 0 rg BT 307.58 184.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 315.84 184.70 Td (AUA) Tj ET Q
q 0 0 0 rg BT 332.73 184.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 334.78 184.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 347.93 184.70 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 368.65 184.70 Td (ef) Tj ET Q
q 0 0 0 rg BT 374.72 184.70 Td (fective ) Tj ET Q
q 0 0 0 rg BT 398.08 184.70 Td (April ) Tj ET Q
q 0 0 0 rg BT 417.02 184.70 Td (1, ) Tj ET Q
q 0 0 0 rg BT 425.07 184.70 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 444.67 184.70 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 465.38 184.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 474.10 184.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 482.81 184.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 505.74 184.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 517.79 184.70 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 535.85 184.70 Td (includes ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 175.10 Td ($23.8 ) Tj ET Q
q 0 0 0 rg BT 87.92 175.10 Td (billion ) Tj ET Q
q 0 0 0 rg BT 111.22 175.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 120.30 175.10 Td (assets ) Tj ET Q
q 0 0 0 rg BT 141.38 175.10 Td (which ) Tj ET Q
q 0 0 0 rg BT 163.34 175.10 Td (were ) Tj ET Q
q 0 0 0 rg BT 181.30 175.10 Td (previously ) Tj ET Q
q 0 0 0 rg BT 217.49 175.10 Td (included ) Tj ET Q
q 0 0 0 rg BT 247.45 175.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 255.56 175.10 Td (AUA. ) Tj ET Q
q 0 0 0 rg BT 277.30 175.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 279.72 175.10 Td (Comparable ) Tj ET Q
q 0 0 0 rg BT 320.70 175.10 Td (AUA) Tj ET Q
q 0 0 0 rg BT 337.59 175.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 340.00 175.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 349.08 175.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 358.16 175.10 Td (March ) Tj ET Q
q 0 0 0 rg BT 381.46 175.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 393.87 175.10 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 412.29 175.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 426.25 175.10 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 446.67 175.10 Td (was ) Tj ET Q
q 0 0 0 rg BT 461.52 175.10 Td ($16.0 ) Tj ET Q
q 0 0 0 rg BT 481.94 175.10 Td (billion ) Tj ET Q
q 0 0 0 rg BT 505.25 175.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 519.21 175.10 Td ($10.5 ) Tj ET Q
q 0 0 0 rg BT 539.63 175.10 Td (billion, ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 165.50 Td (respectively) Tj ET Q
q 0 0 0 rg BT 105.63 165.50 Td (. ) Tj ET Q
q 0 0 0 rg BT 109.16 165.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 110.69 165.50 Td (Long-term ) Tj ET Q
q 0 0 0 rg BT 146.43 165.50 Td (separate ) Tj ET Q
q 0 0 0 rg BT 174.16 165.50 Td (account ) Tj ET Q
q 0 0 0 rg BT 200.57 165.50 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 221.88 165.50 Td (net, ) Tj ET Q
q 0 0 0 rg BT 235.18 165.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 246.04 165.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 257.34 165.50 Td (year ) Tj ET Q
q 0 0 0 rg BT 272.64 165.50 Td (ended ) Tj ET Q
q 0 0 0 rg BT 293.27 165.50 Td (March ) Tj ET Q
q 0 0 0 rg BT 315.68 165.50 Td (31, ) Tj ET Q
q 0 0 0 rg BT 327.21 165.50 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 346.74 165.50 Td (includes ) Tj ET Q
q 0 0 0 rg BT 374.93 165.50 Td ($5.1 ) Tj ET Q
q 0 0 0 rg BT 390.46 165.50 Td (billion ) Tj ET Q
q 0 0 0 rg BT 412.88 165.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 421.08 165.50 Td (net ) Tj ET Q
q 0 0 0 rg BT 432.38 165.50 Td (inflows ) Tj ET Q
q 0 0 0 rg BT 457.91 165.50 Td (related ) Tj ET Q
q 0 0 0 rg BT 481.20 165.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 488.96 165.50 Td (this ) Tj ET Q
q 0 0 0 rg BT 501.71 165.50 Td (AUM. ) Tj ET Q
q 0 0 0 rg BT 523.90 165.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 525.43 165.50 Td (Net ) Tj ET Q
q 0 0 0 rg BT 538.52 165.50 Td (inflows ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 155.90 Td (related ) Tj ET Q
q 0 0 0 rg BT 90.95 155.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 98.86 155.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 110.32 155.90 Td (comparable ) Tj ET Q
q 0 0 0 rg BT 148.94 155.90 Td (AUA) Tj ET Q
q 0 0 0 rg BT 165.83 155.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 167.52 155.90 Td (were ) Tj ET Q
q 0 0 0 rg BT 184.75 155.90 Td ($3.5 ) Tj ET Q
q 0 0 0 rg BT 200.44 155.90 Td (billion ) Tj ET Q
q 0 0 0 rg BT 223.01 155.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 236.25 155.90 Td ($2.1 ) Tj ET Q
q 0 0 0 rg BT 251.94 155.90 Td (billion ) Tj ET Q
q 0 0 0 rg BT 274.52 155.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 285.53 155.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 296.99 155.90 Td (years ) Tj ET Q
q 0 0 0 rg BT 315.56 155.90 Td (ended ) Tj ET Q
q 0 0 0 rg BT 336.34 155.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 358.91 155.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 370.60 155.90 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 388.28 155.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 401.52 155.90 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 421.21 155.90 Td (respectively) Tj ET Q
q 0 0 0 rg BT 459.33 155.90 Td (, ) Tj ET Q
q 0 0 0 rg BT 463.02 155.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 476.26 155.90 Td (are ) Tj ET Q
q 0 0 0 rg BT 487.71 155.90 Td (excluded ) Tj ET Q
q 0 0 0 rg BT 518.27 155.90 Td (from ) Tj ET Q
q 0 0 0 rg BT 535.51 155.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 546.97 155.90 Td (table ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 146.30 Td (above. ) Tj ET Q
q 0 0 0 rg BT 90.60 146.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 92.60 146.30 Td (See ) Tj ET Q
q 0 0 0 rg BT 106.15 146.30 Td ("Assets ) Tj ET Q
q 0 0 0 rg BT 132.31 146.30 Td (Under ) Tj ET Q
q 0 0 0 rg BT 153.86 146.30 Td (Advisement" ) Tj ET Q
q 0 0 0 rg BT 197.79 146.30 Td (below ) Tj ET Q
q 0 0 0 rg BT 219.34 146.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 230.66 146.30 Td (additional ) Tj ET Q
q 0 0 0 rg BT 264.66 146.30 Td (information ) Tj ET Q
q 0 0 0 rg BT 304.43 146.30 Td (regarding ) Tj ET Q
q 0 0 0 rg BT 336.64 146.30 Td (AUA.) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 136.70 Td (\(3\) ) Tj ET Q
q 0 0 0 rg BT 67.50 136.70 Td (Realizations ) Tj ET Q
q 0 0 0 rg BT 109.03 136.70 Td (represent ) Tj ET Q
q 0 0 0 rg BT 140.34 136.70 Td (investment ) Tj ET Q
q 0 0 0 rg BT 177.43 136.70 Td (manager) Tj ET Q
q 0 0 0 rg BT 204.81 136.70 Td (-driven ) Tj ET Q
q 0 0 0 rg BT 229.90 136.70 Td (distributions ) Tj ET Q
q 0 0 0 rg BT 271.89 136.70 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 303.65 136.70 Td (related ) Tj ET Q
q 0 0 0 rg BT 327.40 136.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 335.61 136.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 347.37 136.70 Td (sale ) Tj ET Q
q 0 0 0 rg BT 361.80 136.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 370.45 136.70 Td (assets. ) Tj ET Q
q 0 0 0 rg BT 393.10 136.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 395.09 136.70 Td (Realizations ) Tj ET Q
q 0 0 0 rg BT 436.62 136.70 Td (are ) Tj ET Q
q 0 0 0 rg BT 448.38 136.70 Td (specific ) Tj ET Q
q 0 0 0 rg BT 475.24 136.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 483.45 136.70 Td (our ) Tj ET Q
q 0 0 0 rg BT 496.10 136.70 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 531.85 136.70 Td (managers ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 127.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 81.52 127.10 Td (do ) Tj ET Q
q 0 0 0 rg BT 92.00 127.10 Td (not ) Tj ET Q
q 0 0 0 rg BT 104.69 127.10 Td (include ) Tj ET Q
q 0 0 0 rg BT 130.71 127.10 Td (client-driven ) Tj ET Q
q 0 0 0 rg BT 174.05 127.10 Td (distributions ) Tj ET Q
q 0 0 0 rg BT 216.53 127.10 Td (\(e.g. ) Tj ET Q
q 0 0 0 rg BT 233.22 127.10 Td (client ) Tj ET Q
q 0 0 0 rg BT 253.46 127.10 Td (requested ) Tj ET Q
q 0 0 0 rg BT 286.59 127.10 Td (redemptions, ) Tj ET Q
q 0 0 0 rg BT 330.61 127.10 Td (liquidations ) Tj ET Q
q 0 0 0 rg BT 370.86 127.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 379.99 127.10 Td (asset ) Tj ET Q
q 0 0 0 rg BT 398.02 127.10 Td (transfers\). ) Tj ET Q
q 0 0 0 rg BT 432.70 127.10 Td (Prior ) Tj ET Q
q 0 0 0 rg BT 451.17 127.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 459.32 127.10 Td (April ) Tj ET Q
q 0 0 0 rg BT 478.68 127.10 Td (1, ) Tj ET Q
q 0 0 0 rg BT 487.15 127.10 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 507.62 127.10 Td (realizations ) Tj ET Q
q 0 0 0 rg BT 546.97 127.10 Td (were ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 117.50 Td (reported ) Tj ET Q
q 0 0 0 rg BT 96.15 117.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 104.82 117.50 Td (net ) Tj ET Q
q 0 0 0 rg BT 116.59 117.50 Td (client ) Tj ET Q
q 0 0 0 rg BT 136.36 117.50 Td (cash ) Tj ET Q
q 0 0 0 rg BT 152.57 117.50 Td (flows.) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 107.90 Td (\(4\) ) Tj ET Q
q 0 0 0 rg BT 67.50 107.90 Td (For ) Tj ET Q
q 0 0 0 rg BT 81.20 107.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 93.55 107.90 Td (year ) Tj ET Q
q 0 0 0 rg BT 109.90 107.90 Td (ended ) Tj ET Q
q 0 0 0 rg BT 131.59 107.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 155.05 107.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 167.63 107.90 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 188.21 107.90 Td (other ) Tj ET Q
q 0 0 0 rg BT 207.23 107.90 Td (includes ) Tj ET Q
q 0 0 0 rg BT 236.48 107.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 248.83 107.90 Td (reclassification, ) Tj ET Q
q 0 0 0 rg BT 301.84 107.90 Td (ef) Tj ET Q
q 0 0 0 rg BT 307.91 107.90 Td (fective ) Tj ET Q
q 0 0 0 rg BT 331.68 107.90 Td (April ) Tj ET Q
q 0 0 0 rg BT 351.15 107.90 Td (1, ) Tj ET Q
q 0 0 0 rg BT 359.74 107.90 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 380.32 107.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 389.57 107.90 Td ($16.0 ) Tj ET Q
q 0 0 0 rg BT 410.15 107.90 Td (billion ) Tj ET Q
q 0 0 0 rg BT 433.62 107.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 442.87 107.90 Td (certain ) Tj ET Q
q 0 0 0 rg BT 467.21 107.90 Td (assets ) Tj ET Q
q 0 0 0 rg BT 488.46 107.90 Td (which ) Tj ET Q
q 0 0 0 rg BT 510.60 107.90 Td (were ) Tj ET Q
q 0 0 0 rg BT 528.72 107.90 Td (previously ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 98.30 Td (included ) Tj ET Q
q 0 0 0 rg BT 97.67 98.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 105.94 98.30 Td (AUA) Tj ET Q
q 0 0 0 rg BT 122.83 98.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 125.45 98.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 133.72 98.30 Td (AUM. ) Tj ET Q
q 0 0 0 rg BT 157.01 98.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 159.64 98.30 Td (For ) Tj ET Q
q 0 0 0 rg BT 173.37 98.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 185.77 98.30 Td (year ) Tj ET Q
q 0 0 0 rg BT 202.16 98.30 Td (ended ) Tj ET Q
q 0 0 0 rg BT 223.89 98.30 Td (March ) Tj ET Q
q 0 0 0 rg BT 247.39 98.30 Td (31, ) Tj ET Q
q 0 0 0 rg BT 260.01 98.30 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 280.64 98.30 Td (other ) Tj ET Q
q 0 0 0 rg BT 299.70 98.30 Td (also ) Tj ET Q
q 0 0 0 rg BT 315.21 98.30 Td (includes ) Tj ET Q
q 0 0 0 rg BT 344.49 98.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 356.89 98.30 Td (reinvestment ) Tj ET Q
q 0 0 0 rg BT 400.84 98.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 410.12 98.30 Td (dividends ) Tj ET Q
q 0 0 0 rg BT 443.86 98.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 458.03 98.30 Td (a ) Tj ET Q
q 0 0 0 rg BT 464.21 98.30 Td ($\(3.7\) ) Tj ET Q
q 0 0 0 rg BT 486.16 98.30 Td (billion ) Tj ET Q
q 0 0 0 rg BT 509.67 98.30 Td (reconciliation ) Tj ET Q
q 0 0 0 rg BT 556.28 98.30 Td (to ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 88.70 Td (previously ) Tj ET Q
q 0 0 0 rg BT 103.27 88.70 Td (reported ) Tj ET Q
q 0 0 0 rg BT 131.93 88.70 Td (amounts. ) Tj ET Q
q 0 0 0 rg BT 163.04 88.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 165.04 88.70 Td (For ) Tj ET Q
q 0 0 0 rg BT 178.15 88.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 189.92 88.70 Td (years ) Tj ET Q
q 0 0 0 rg BT 208.80 88.70 Td (ended ) Tj ET Q
q 0 0 0 rg BT 229.90 88.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 252.78 88.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 264.78 88.70 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 282.78 88.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 296.33 88.70 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 316.33 88.70 Td (other ) Tj ET Q
q 0 0 0 rg BT 334.77 88.70 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 366.54 88.70 Td (includes ) Tj ET Q
q 0 0 0 rg BT 395.20 88.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 406.97 88.70 Td (reinvestment ) Tj ET Q
q 0 0 0 rg BT 450.29 88.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 458.96 88.70 Td (dividends.) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 79.10 Td (\(5\) ) Tj ET Q
q 0 0 0 rg BT 67.50 79.10 Td (Includes ) Tj ET Q
q 0 0 0 rg BT 96.82 79.10 Td ($41.5 ) Tj ET Q
q 0 0 0 rg BT 117.03 79.10 Td (billion ) Tj ET Q
q 0 0 0 rg BT 140.14 79.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 153.91 79.10 Td ($9.6 ) Tj ET Q
q 0 0 0 rg BT 170.12 79.10 Td (billion ) Tj ET Q
q 0 0 0 rg BT 193.23 79.10 Td (related ) Tj ET Q
q 0 0 0 rg BT 217.21 79.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 225.64 79.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 237.63 79.10 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 278.07 79.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 286.95 79.10 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 313.16 79.10 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 341.59 79.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 355.36 79.10 Td (EnT) Tj ET Q
q 0 0 0 rg BT 368.85 79.10 Td (rust, ) Tj ET Q
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q 0 0 0 rg BT 529.22 590.55 Td (AUA) Tj ET Q
q 0 0 0 rg BT 551.39 590.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 554.33 590.55 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 75.74 577.95 Td (due ) Tj ET Q
q 0 0 0 rg BT 92.63 577.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 102.53 577.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 108.92 577.95 Td (change ) Tj ET Q
q 0 0 0 rg BT 140.39 577.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 150.29 577.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 166.02 577.95 Td (policy ) Tj ET Q
q 0 0 0 rg BT 194.00 577.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 206.23 577.95 Td (classification ) Tj ET Q
q 0 0 0 rg BT 263.36 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 273.46 577.95 Td (AUA) Tj ET Q
q 0 0 0 rg BT 295.63 577.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 297.36 577.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 313.87 577.95 Td (AUM. ) Tj ET Q
q 0 0 0 rg BT 342.73 577.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 344.47 577.95 Td (See ) Tj ET Q
q 0 0 0 rg BT 361.36 577.95 Td ("Assets ) Tj ET Q
q 0 0 0 rg BT 394.80 577.95 Td (Under ) Tj ET Q
q 0 0 0 rg BT 422.39 577.95 Td (Advisement" ) Tj ET Q
q 0 0 0 rg BT 479.15 577.95 Td (below ) Tj ET Q
q 0 0 0 rg BT 506.55 577.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 520.52 577.95 Td (additional ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (information ) Tj ET Q
q 0 0 0 rg BT 101.70 565.35 Td (regarding ) Tj ET Q
q 0 0 0 rg BT 143.98 565.35 Td (AUA. ) Tj ET Q
q 0 0 0 rg BT 171.98 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 174.41 565.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 193.36 565.35 Td (positive ) Tj ET Q
q 0 0 0 rg BT 229.24 565.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 260.43 565.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 271.81 565.35 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 304.75 565.35 Td (currency ) Tj ET Q
q 0 0 0 rg BT 344.10 565.35 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 386.37 565.35 Td (rate ) Tj ET Q
q 0 0 0 rg BT 404.73 565.35 Td (fluctuations ) Tj ET Q
q 0 0 0 rg BT 456.93 565.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 475.88 565.35 Td ($5.4 ) Tj ET Q
q 0 0 0 rg BT 496.88 565.35 Td (billion. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (During ) Tj ET Q
q 0 0 0 rg BT 82.35 540.15 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 108.18 540.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 134.91 540.15 Td (we ) Tj ET Q
q 0 0 0 rg BT 150.25 540.15 Td (began ) Tj ET Q
q 0 0 0 rg BT 178.42 540.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 189.69 540.15 Td (separately ) Tj ET Q
q 0 0 0 rg BT 235.35 540.15 Td (report ) Tj ET Q
q 0 0 0 rg BT 263.52 540.15 Td (realizations. ) Tj ET Q
q 0 0 0 rg BT 317.64 540.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 320.74 540.15 Td (Realizations ) Tj ET Q
q 0 0 0 rg BT 375.74 540.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 391.66 540.15 Td (investment ) Tj ET Q
q 0 0 0 rg BT 440.83 540.15 Td (manager ) Tj ET Q
q 0 0 0 rg BT 480.08 540.15 Td (driven ) Tj ET Q
q 0 0 0 rg BT 510.00 540.15 Td (distributions ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 90.91 527.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 121.82 527.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 132.33 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 147.49 527.55 Td (sale ) Tj ET Q
q 0 0 0 rg BT 166.16 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 177.25 527.55 Td (assets. ) Tj ET Q
q 0 0 0 rg BT 206.71 527.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 209.05 527.55 Td (Realizations ) Tj ET Q
q 0 0 0 rg BT 263.29 527.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 278.45 527.55 Td (specific ) Tj ET Q
q 0 0 0 rg BT 313.44 527.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 323.95 527.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 340.29 527.55 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 386.94 527.55 Td (managers ) Tj ET Q
q 0 0 0 rg BT 429.51 527.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 447.01 527.55 Td (do ) Tj ET Q
q 0 0 0 rg BT 459.85 527.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 475.61 527.55 Td (include ) Tj ET Q
q 0 0 0 rg BT 508.85 527.55 Td (client-driven ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (distributions ) Tj ET Q
q 0 0 0 rg BT 104.46 514.95 Td (\(e.g. ) Tj ET Q
q 0 0 0 rg BT 125.56 514.95 Td (requested ) Tj ET Q
q 0 0 0 rg BT 168.24 514.95 Td (redemptions, ) Tj ET Q
q 0 0 0 rg BT 225.22 514.95 Td (liquidations, ) Tj ET Q
q 0 0 0 rg BT 279.88 514.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 291.07 514.95 Td (asset ) Tj ET Q
q 0 0 0 rg BT 313.93 514.95 Td (transfers\). ) Tj ET Q
q 0 0 0 rg BT 358.65 514.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 361.10 514.95 Td (Realizations ) Tj ET Q
q 0 0 0 rg BT 415.45 514.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 430.15 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 445.42 514.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 465.94 514.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 493.46 514.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 523.31 514.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 538.88 514.95 Td (2018, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 72.17 502.35 Td ($2.6 ) Tj ET Q
q 0 0 0 rg BT 92.82 502.35 Td (billion. ) Tj ET Q
q 0 0 0 rg BT 125.14 502.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 127.41 502.35 Td (Realizations ) Tj ET Q
q 0 0 0 rg BT 181.58 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 192.60 502.35 Td ($1.3 ) Tj ET Q
q 0 0 0 rg BT 213.25 502.35 Td (billion ) Tj ET Q
q 0 0 0 rg BT 242.94 502.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 265.61 502.35 Td (included ) Tj ET Q
q 0 0 0 rg BT 304.04 502.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 314.48 502.35 Td (net ) Tj ET Q
q 0 0 0 rg BT 329.58 502.35 Td (client ) Tj ET Q
q 0 0 0 rg BT 355.17 502.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 376.10 502.35 Td (flows ) Tj ET Q
q 0 0 0 rg BT 401.70 502.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 416.22 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 431.32 502.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 451.66 502.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 479.00 502.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 508.68 502.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 524.07 502.35 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 547.34 502.35 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (there ) Tj ET Q
q 0 0 0 rg BT 73.11 489.75 Td (were ) Tj ET Q
q 0 0 0 rg BT 96.14 489.75 Td (no ) Tj ET Q
q 0 0 0 rg BT 109.26 489.75 Td (realizations ) Tj ET Q
q 0 0 0 rg BT 160.28 489.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 175.15 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 190.60 489.75 Td (year ) Tj ET Q
q 0 0 0 rg BT 211.30 489.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 238.99 489.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 269.02 489.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 284.77 489.75 Td (2016.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 77.01 464.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 87.60 464.55 Td (March�31, ) Tj ET Q
q 0 0 0 rg BT 133.77 464.55 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 157.78 464.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 177.12 464.55 Td ($728.4�billion, ) Tj ET Q
q 0 0 0 rg BT 241.67 464.55 Td (an ) Tj ET Q
q 0 0 0 rg BT 254.60 464.55 Td (increase ) Tj ET Q
q 0 0 0 rg BT 292.00 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 303.76 464.55 Td ($58.8�billion, ) Tj ET Q
q 0 0 0 rg BT 363.06 464.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 374.82 464.55 Td (9%, ) Tj ET Q
q 0 0 0 rg BT 394.45 464.55 Td (compared ) Tj ET Q
q 0 0 0 rg BT 438.86 464.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 450.04 464.55 Td (March�31, ) Tj ET Q
q 0 0 0 rg BT 496.20 464.55 Td (2016.� ) Tj ET Q
q 0 0 0 rg BT 525.25 464.55 Td (T) Tj ET Q
q 0 0 0 rg BT 530.93 464.55 Td (otal ) Tj ET Q
q 0 0 0 rg BT 549.68 464.55 Td (net ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (client ) Tj ET Q
q 0 0 0 rg BT 75.45 451.95 Td (outflows ) Tj ET Q
q 0 0 0 rg BT 114.83 451.95 Td (were ) Tj ET Q
q 0 0 0 rg BT 137.86 451.95 Td ($28.9 ) Tj ET Q
q 0 0 0 rg BT 164.11 451.95 Td (billion, ) Tj ET Q
q 0 0 0 rg BT 196.78 451.95 Td (consisting ) Tj ET Q
q 0 0 0 rg BT 242.00 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 253.37 451.95 Td (net ) Tj ET Q
q 0 0 0 rg BT 268.83 451.95 Td (client ) Tj ET Q
q 0 0 0 rg BT 294.78 451.95 Td (outflows ) Tj ET Q
q 0 0 0 rg BT 334.16 451.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 357.19 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 372.65 451.95 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 410.86 451.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 428.65 451.95 Td (long-term ) Tj ET Q
q 0 0 0 rg BT 472.69 451.95 Td (asset ) Tj ET Q
q 0 0 0 rg BT 495.72 451.95 Td (classes ) Tj ET Q
q 0 0 0 rg BT 527.51 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 538.88 451.95 Td ($27.3 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (billion ) Tj ET Q
q 0 0 0 rg BT 79.64 439.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 97.52 439.35 Td ($1.6 ) Tj ET Q
q 0 0 0 rg BT 118.62 439.35 Td (billion, ) Tj ET Q
q 0 0 0 rg BT 151.39 439.35 Td (respectively) Tj ET Q
q 0 0 0 rg BT 201.43 439.35 Td (. ) Tj ET Q
q 0 0 0 rg BT 206.78 439.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 209.50 439.35 Td (Long-term ) Tj ET Q
q 0 0 0 rg BT 257.12 439.35 Td (asset ) Tj ET Q
q 0 0 0 rg BT 280.26 439.35 Td (net ) Tj ET Q
q 0 0 0 rg BT 295.81 439.35 Td (outflows ) Tj ET Q
q 0 0 0 rg BT 335.28 439.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 358.40 439.35 Td (comprised ) Tj ET Q
q 0 0 0 rg BT 404.86 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 416.33 439.35 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 463.36 439.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 481.24 439.35 Td (equity ) Tj ET Q
q 0 0 0 rg BT 510.21 439.35 Td (net ) Tj ET Q
q 0 0 0 rg BT 525.76 439.35 Td (outflows ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.11 426.75 Td ($7.2 ) Tj ET Q
q 0 0 0 rg BT 82.34 426.75 Td (billion ) Tj ET Q
q 0 0 0 rg BT 112.62 426.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 130.65 426.75 Td ($5.2 ) Tj ET Q
q 0 0 0 rg BT 151.88 426.75 Td (billion, ) Tj ET Q
q 0 0 0 rg BT 184.79 426.75 Td (respectively) Tj ET Q
q 0 0 0 rg BT 234.83 426.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 240.32 426.75 Td (partially ) Tj ET Q
q 0 0 0 rg BT 278.17 426.75 Td (of) Tj ET Q
q 0 0 0 rg BT 286.73 426.75 Td (fset ) Tj ET Q
q 0 0 0 rg BT 304.75 426.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 318.11 426.75 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 342.54 426.75 Td (income ) Tj ET Q
q 0 0 0 rg BT 376.31 426.75 Td (net ) Tj ET Q
q 0 0 0 rg BT 392.00 426.75 Td (inflows ) Tj ET Q
q 0 0 0 rg BT 426.36 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 437.97 426.75 Td ($10.8 ) Tj ET Q
q 0 0 0 rg BT 464.45 426.75 Td (billion. ) Tj ET Q
q 0 0 0 rg BT 497.36 426.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 499.59 426.75 Td (Alternative ) Tj ET Q
q 0 0 0 rg BT 549.68 426.75 Td (net ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (outflows ) Tj ET Q
q 0 0 0 rg BT 90.25 414.15 Td (were ) Tj ET Q
q 0 0 0 rg BT 114.64 414.15 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 157.71 414.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 169.88 414.15 Td (products ) Tj ET Q
q 0 0 0 rg BT 210.03 414.15 Td (managed ) Tj ET Q
q 0 0 0 rg BT 251.93 414.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 266.43 414.15 Td (EnT) Tj ET Q
q 0 0 0 rg BT 284.14 414.15 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 333.62 414.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 352.78 414.15 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 384.78 414.15 Td (Infrastructure. ) Tj ET Q
q 0 0 0 rg BT 448.54 414.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 452.53 414.15 Td (Equity ) Tj ET Q
q 0 0 0 rg BT 484.53 414.15 Td (net ) Tj ET Q
q 0 0 0 rg BT 501.35 414.15 Td (outflows ) Tj ET Q
q 0 0 0 rg BT 542.10 414.15 Td (were ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 90.46 401.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 100.51 401.55 Td (products ) Tj ET Q
q 0 0 0 rg BT 138.56 401.55 Td (managed ) Tj ET Q
q 0 0 0 rg BT 178.35 401.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 190.74 401.55 Td (Royce, ) Tj ET Q
q 0 0 0 rg BT 222.07 401.55 Td (QS ) Tj ET Q
q 0 0 0 rg BT 237.38 401.55 Td (Investors ) Tj ET Q
q 0 0 0 rg BT 277.76 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 294.81 401.55 Td (Brandywine, ) Tj ET Q
q 0 0 0 rg BT 350.64 401.55 Td (of) Tj ET Q
q 0 0 0 rg BT 359.20 401.55 Td (fset ) Tj ET Q
q 0 0 0 rg BT 376.25 401.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 386.30 401.55 Td (part ) Tj ET Q
q 0 0 0 rg BT 404.51 401.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 416.90 401.55 Td (equity ) Tj ET Q
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q 0 0 0 rg BT 459.75 401.55 Td (inflows ) Tj ET Q
q 0 0 0 rg BT 493.14 401.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 502.60 401.55 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 533.07 401.55 Td (Currie. ) Tj ET Q
q 0 0 0 rg BT 565.14 401.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 567.77 401.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 570.39 401.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (Fixed ) Tj ET Q
q 0 0 0 rg BT 75.60 388.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 108.68 388.95 Td (net ) Tj ET Q
q 0 0 0 rg BT 123.69 388.95 Td (inflows ) Tj ET Q
q 0 0 0 rg BT 157.37 388.95 Td (were ) Tj ET Q
q 0 0 0 rg BT 179.96 388.95 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 221.21 388.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 231.56 388.95 Td (products ) Tj ET Q
q 0 0 0 rg BT 269.90 388.95 Td (managed ) Tj ET Q
q 0 0 0 rg BT 309.98 388.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 322.50 388.95 Td (W) Tj ET Q
q 0 0 0 rg BT 331.57 388.95 Td (estern ) Tj ET Q
q 0 0 0 rg BT 358.34 388.95 Td (Asset, ) Tj ET Q
q 0 0 0 rg BT 386.48 388.95 Td (of) Tj ET Q
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q 0 0 0 rg BT 412.38 388.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 422.73 388.95 Td (part ) Tj ET Q
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q 0 0 0 rg BT 477.67 388.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 510.75 388.95 Td (net ) Tj ET Q
q 0 0 0 rg BT 525.76 388.95 Td (outflows ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (at ) Tj ET Q
q 0 0 0 rg BT 59.34 376.35 Td (Brandywine. ) Tj ET Q
q 0 0 0 rg BT 115.55 376.35 Td ( ) Tj ET Q
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q 0 0 0 rg BT 223.12 376.35 Td (other ) Tj ET Q
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q 0 0 0 rg BT 291.44 376.35 Td (billion ) Tj ET Q
q 0 0 0 rg BT 321.12 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 338.54 376.35 Td (the ) Tj ET Q
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q 0 0 0 rg BT 465.88 376.35 Td (currency ) Tj ET Q
q 0 0 0 rg BT 504.87 376.35 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 546.77 376.35 Td (rate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (fluctuations ) Tj ET Q
q 0 0 0 rg BT 101.23 363.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 119.72 363.75 Td ($1.3 ) Tj ET Q
q 0 0 0 rg BT 140.25 363.75 Td (billion. ) Tj ET Q
q 0 0 0 rg BT 172.45 363.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 174.13 363.75 Td (Acquisitions ) Tj ET Q
q 0 0 0 rg BT 229.37 363.75 Td (\(dispositions\), ) Tj ET Q
q 0 0 0 rg BT 291.32 363.75 Td (net, ) Tj ET Q
q 0 0 0 rg BT 308.93 363.75 Td (totaled ) Tj ET Q
q 0 0 0 rg BT 339.66 363.75 Td ($46.3 ) Tj ET Q
q 0 0 0 rg BT 365.44 363.75 Td (billion, ) Tj ET Q
q 0 0 0 rg BT 397.64 363.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 414.96 363.75 Td (included ) Tj ET Q
q 0 0 0 rg BT 453.27 363.75 Td ($41.5 ) Tj ET Q
q 0 0 0 rg BT 479.05 363.75 Td (billion ) Tj ET Q
q 0 0 0 rg BT 508.63 363.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 539.35 363.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 549.67 363.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 98.57 351.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 110.31 351.15 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 144.80 351.15 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 182.20 351.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 192.71 351.15 Td (April ) Tj ET Q
q 0 0 0 rg BT 217.86 351.15 Td (2016 ) Tj ET Q
q 0 0 0 rg BT 241.86 351.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 260.01 351.15 Td ($9.6 ) Tj ET Q
q 0 0 0 rg BT 281.38 351.15 Td (billion ) Tj ET Q
q 0 0 0 rg BT 311.80 351.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 343.35 351.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 354.52 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 370.34 351.15 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 419.41 351.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 431.15 351.15 Td (EnT) Tj ET Q
q 0 0 0 rg BT 448.86 351.15 Td (rust ) Tj ET Q
q 0 0 0 rg BT 467.60 351.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 478.77 351.15 Td (May ) Tj ET Q
q 0 0 0 rg BT 501.01 351.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 527.63 351.15 Td (of) Tj ET Q
q 0 0 0 rg BT 536.18 351.15 Td (fset ) Tj ET Q
q 0 0 0 rg BT 554.34 351.15 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (part ) Tj ET Q
q 0 0 0 rg BT 68.45 338.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 81.57 338.55 Td ($4.8 ) Tj ET Q
q 0 0 0 rg BT 102.57 338.55 Td (billion ) Tj ET Q
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/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 577.8 m
166 577.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
170 577.8 m
213 577.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
217 577.8 m
261 577.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
265 577.8 m
307 577.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
311 577.8 m
348 577.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
352 577.8 m
393 577.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
397 577.8 m
435 577.8 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 478.75 708.57 Td (% Change) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 180.50 672.59 Td (2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 227.55 683.09 Td (% of) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 227.00 672.59 Td (T) Tj ET Q
q 0 0 0 rg BT 233.04 672.59 Td (otal) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 275.00 672.57 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 318.90 683.07 Td (% of) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 318.25 672.57 Td (T) Tj ET Q
q 0 0 0 rg BT 323.93 672.57 Td (otal) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 361.50 672.57 Td (2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 405.40 683.07 Td (% of) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 404.75 672.57 Td (T) Tj ET Q
q 0 0 0 rg BT 410.43 672.57 Td (otal) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 457.50 693.59 Td (2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 444.15 683.09 Td (Compar) Tj ET Q
q 0 0 0 rg BT 481.29 683.09 Td (ed) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 451.80 672.59 Td (to 2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.50 693.57 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 512.10 683.07 Td (Compared) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 518.10 672.57 Td (to 2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 657.57 Td ( Equity) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 172.50 657.59 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 185.35 657.59 Td (203.0) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 239.50 657.59 Td (27) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 250.00 657.59 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 267.50 657.57 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 279.35 657.57 Td (179.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 328.25 657.57 Td (25) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 338.75 657.57 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 354.50 657.57 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 365.35 657.57 Td (162.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 415.25 657.57 Td (24) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 425.75 657.57 Td (%) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 476.50 657.59 Td (13) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 487.00 657.59 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 543.25 657.57 Td (1) Tj ET Q
q 0 0 0 rg BT 548.50 657.57 Td (1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 553.75 657.57 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 642.57 Td (Fixed Income) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 185.35 642.59 Td (422.3) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 239.50 642.59 Td (56) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 279.35 642.57 Td (394.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 328.25 642.57 Td (54) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 365.35 642.57 Td (372.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 415.25 642.57 Td (56) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 481.75 642.59 Td (7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 548.50 642.57 Td (6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 627.57 Td (Alternative) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 190.60 627.59 Td (66.1) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 244.75 627.59 Td (9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 284.60 627.57 Td (67.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 333.50 627.57 Td (9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 370.60 627.57 Td (22.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 420.50 627.57 Td (3) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 478.25 627.59 Td (\(3) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 487.00 627.59 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 543.15 627.57 Td (n/m) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 612.57 Td (T) Tj ET Q
q 0 0 0 rg BT 73.18 612.57 Td (otal long-term assets) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 185.35 612.59 Td (691.4) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 239.50 612.59 Td (92) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 279.35 612.57 Td (642.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 328.25 612.57 Td (88) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 365.35 612.57 Td (557.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 415.25 612.57 Td (83) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 481.75 612.59 Td (8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 543.25 612.57 Td (15) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 597.57 Td (Liquidity) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 190.60 597.59 Td (62.7) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 244.75 597.59 Td (8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 284.60 597.57 Td (86.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 328.25 597.57 Td (12) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 365.35 597.57 Td (1) Tj ET Q
q 0 0 0 rg BT 370.60 597.57 Td (12.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 415.25 597.57 Td (17) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 473.00 597.59 Td (\(27) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 487.00 597.59 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.75 597.57 Td (\(23) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 553.75 597.57 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 582.57 Td (T) Tj ET Q
q 0 0 0 rg BT 64.18 582.57 Td (otal) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 172.50 582.59 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 185.35 582.59 Td (754.1) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 234.25 582.59 Td (100) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 250.00 582.59 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 267.50 582.57 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 279.35 582.57 Td (728.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 323.00 582.57 Td (100) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 338.75 582.57 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 354.50 582.57 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 365.35 582.57 Td (669.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 410.00 582.57 Td (100) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 425.75 582.57 Td (%) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 481.75 582.59 Td (4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 548.50 582.57 Td (9) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.00 Tf ET
BT /F1 6.50 Tf ET
q 0 0 0 rg BT 49.50 570.83 Td (n/m ) Tj ET Q
BT /F1 6.50 Tf ET
q 0 0 0 rg BT 61.24 570.83 Td (- ) Tj ET Q
BT /F1 6.50 Tf ET
q 0 0 0 rg BT 65.02 570.83 Td (not ) Tj ET Q
BT /F1 6.50 Tf ET
q 0 0 0 rg BT 74.95 570.83 Td (meaningful) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 553.70 Td (A) Tj ET Q
q 0 0 0 rg BT 56.30 553.70 Td (verage ) Tj ET Q
q 0 0 0 rg BT 86.33 553.70 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 113.46 553.70 Td (by ) Tj ET Q
q 0 0 0 rg BT 126.58 553.70 Td (asset ) Tj ET Q
q 0 0 0 rg BT 149.62 553.70 Td (class ) Tj ET Q
q 0 0 0 rg BT 172.65 553.70 Td (\(in ) Tj ET Q
q 0 0 0 rg BT 186.94 553.70 Td (billions\) ) Tj ET Q
q 0 0 0 rg BT 224.57 553.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 239.44 553.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 254.89 553.70 Td (years ) Tj ET Q
q 0 0 0 rg BT 279.67 553.70 Td (ended ) Tj ET Q
q 0 0 0 rg BT 307.37 553.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 337.40 553.70 Td (31 ) Tj ET Q
q 0 0 0 rg BT 350.52 553.70 Td (was ) Tj ET Q
q 0 0 0 rg BT 369.48 553.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 380.85 553.70 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 492.20 116.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
166.00 492.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
170.00 492.20 43.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
213.00 492.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
217.00 492.20 44.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
261.00 492.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
265.00 492.20 42.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
307.00 492.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
311.00 492.20 37.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 492.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 492.20 41.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
393.00 492.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
397.00 492.20 38.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 492.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 492.20 59.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 492.20 8.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 492.20 57.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 464.20 116.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
166.00 464.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
170.00 464.20 43.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
213.00 464.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
217.00 464.20 44.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
261.00 464.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
265.00 464.20 42.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
307.00 464.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
311.00 464.20 37.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 464.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 464.20 41.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
393.00 464.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
397.00 464.20 38.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 464.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 464.20 59.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 464.20 8.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 464.20 57.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 436.20 116.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
166.00 436.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
170.00 436.20 43.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
213.00 436.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
217.00 436.20 44.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
261.00 436.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
265.00 436.20 42.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
307.00 436.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
311.00 436.20 37.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 436.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 436.20 41.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
393.00 436.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
397.00 436.20 38.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 436.20 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 436.20 59.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 436.20 8.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 436.20 57.00 -14.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439 528.2 m
498 528.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
498 528.2 m
506 528.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
506 528.2 m
563 528.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 492.2 m
166 492.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
170 492.2 m
213 492.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
217 492.2 m
261 492.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
265 492.2 m
307 492.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
311 492.2 m
348 492.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
352 492.2 m
393 492.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
397 492.2 m
435 492.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439 492.2 m
498 492.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
506 492.2 m
563 492.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
265 492.2 m
307 492.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
311 492.2 m
348 492.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
352 492.2 m
393 492.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
397 492.2 m
435 492.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 450.2 m
166 450.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
170 450.2 m
213 450.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
217 450.2 m
261 450.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
265 450.2 m
307 450.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
311 450.2 m
348 450.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
352 450.2 m
393 450.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
397 450.2 m
435 450.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 422.2 m
166 422.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
170 422.2 m
213 422.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
217 422.2 m
261 422.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
265 422.2 m
307 422.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
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0 j
3 M
353 528.65 m
407 528.65 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
411 528.65 m
458 528.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
462 528.65 m
510 528.65 l
s
0 0 0 RG
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1.00 w
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[] 0 d
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3 M
514 528.65 m
562 528.65 l
s
0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
251 528.65 m
298 528.65 l
s
0 0 0 RG
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1.00 w
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[] 0 d
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3 M
302 528.65 m
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s
0 0 0 RG
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1.00 w
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[] 0 d
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3 M
349 528.65 m
353 528.65 l
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0 0 0 RG
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1.00 w
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[] 0 d
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3 M
353 528.65 m
407 528.65 l
s
0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
411 528.65 m
458 528.65 l
s
0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
462 528.65 m
510 528.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
514 528.65 m
562 528.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
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[] 0 d
0 J
0 j
3 M
49 430.65 m
247 430.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
251 430.65 m
298 430.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
302 430.65 m
349 430.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
349 430.65 m
353 430.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
353 430.65 m
407 430.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
411 430.65 m
458 430.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
462 430.65 m
510 430.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
514 430.65 m
562 430.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
251 430.65 m
298 430.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
302 430.65 m
349 430.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
349 430.65 m
353 430.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
353 430.65 m
407 430.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
411 430.65 m
458 430.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
462 430.65 m
510 430.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 370.65 m
247 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
251 370.65 m
298 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
302 370.65 m
349 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
349 370.65 m
353 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
353 370.65 m
407 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
411 370.65 m
458 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
462 370.65 m
510 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
514 370.65 m
562 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 370.65 m
247 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
251 370.65 m
298 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
302 370.65 m
349 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
349 370.65 m
353 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
353 370.65 m
407 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
411 370.65 m
458 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
462 370.65 m
510 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
514 370.65 m
562 370.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 274.65 m
247 274.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
251 274.65 m
298 274.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
302 274.65 m
349 274.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
349 274.65 m
353 274.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
353 274.65 m
407 274.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
411 274.65 m
458 274.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
462 274.65 m
510 274.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
514 274.65 m
562 274.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
251 274.65 m
298 274.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
302 274.65 m
349 274.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
349 274.65 m
353 274.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
353 274.65 m
407 274.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
411 274.65 m
458 274.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
462 274.65 m
510 274.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 199.64999999999998 m
247 199.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
251 199.64999999999998 m
298 199.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
302 199.64999999999998 m
349 199.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
349 199.64999999999998 m
353 199.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
353 199.64999999999998 m
407 199.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
411 199.64999999999998 m
458 199.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
462 199.64999999999998 m
510 199.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
514 199.64999999999998 m
562 199.64999999999998 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 185.64999999999998 m
247 185.64999999999998 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
251 199.64999999999998 m
298 199.64999999999998 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
251 185.64999999999998 m
298 185.64999999999998 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
302 199.64999999999998 m
349 199.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
302 185.64999999999998 m
349 185.64999999999998 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
349 199.64999999999998 m
353 199.64999999999998 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
349 185.64999999999998 m
353 185.64999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
353 199.64999999999998 m
407 199.64999999999998 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
353 185.64999999999998 m
407 185.64999999999998 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
411 199.64999999999998 m
458 199.64999999999998 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
411 185.64999999999998 m
458 185.64999999999998 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
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3 M
462 199.64999999999998 m
510 199.64999999999998 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
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3 M
462 185.64999999999998 m
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1.00 w
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3 M
514 185.64999999999998 m
562 185.64999999999998 l
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 687.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 260.00 687.42 Td (Equity) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 313.00 697.92 Td (Fixed) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 309.25 687.42 Td (Income) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 355.85 687.42 Td (Alternative) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 423.25 708.42 Td (T) Tj ET Q
q 0 0 0 rg BT 428.93 708.42 Td (otal ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 421.15 697.92 Td (Long-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 422.95 687.42 Td (T) Tj ET Q
q 0 0 0 rg BT 428.63 687.42 Td (erm) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 465.95 687.42 Td (Liquidity) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 526.75 687.42 Td (T) Tj ET Q
q 0 0 0 rg BT 532.43 687.42 Td (otal) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 672.87 Td (March 31, 2015) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 253.50 672.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 270.35 672.87 Td (186.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 304.50 672.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 321.35 672.87 Td (370.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 355.50 672.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 384.60 672.87 Td (19.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 413.50 672.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 430.35 672.87 Td (575.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 464.50 672.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 482.35 672.87 Td (127.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 516.50 672.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 672.87 Td (702.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 657.92 Td (Investment funds, excluding liquidity ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 66.50 647.42 Td (funds:) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 92.75 652.18 Td (\(1\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 647.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 69.50 632.87 Td (Subscriptions) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 275.60 632.87 Td (21.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 326.60 632.87 Td (27.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 389.85 632.87 Td (1.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 435.60 632.87 Td (50.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.50 632.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.60 632.87 Td (50.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 69.50 618.42 Td (Redemptions) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 272.10 618.42 Td (\(34.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.00 618.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 323.10 618.42 Td (\(25.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.00 618.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 386.35 618.42 Td (\(2.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.00 618.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 432.10 618.42 Td (\(62.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 454.00 618.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.50 618.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 618.42 Td (\(62.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 618.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 603.87 Td (Separate account flows, net) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 280.85 603.87 Td (2.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 328.35 603.87 Td (\(1.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.00 603.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 386.35 603.87 Td (\(0.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.00 603.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.85 603.87 Td (0.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 492.85 603.87 Td (0.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.85 603.87 Td (1.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 589.87 Td (Liquidity fund flows, net) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 283.50 589.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 334.50 589.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 392.50 589.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 443.50 589.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 484.10 589.87 Td (\(15.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 506.00 589.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 589.87 Td (\(15.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 589.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 575.87 Td (Net client cash flows) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 277.35 575.87 Td (\(9.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.00 575.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 331.85 575.87 Td (0.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 386.35 575.87 Td (\(1.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.00 575.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 432.10 575.87 Td (\(1) Tj ET Q
q 0 0 0 rg BT 440.85 575.87 Td (1.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 454.00 575.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 484.10 575.87 Td (\(14.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 506.00 575.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 575.87 Td (\(26.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 575.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 561.42 Td (Market performance and other) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 179.48 566.18 Td ( \(2\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 272.10 561.42 Td (\(14.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.00 561.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 331.85 561.42 Td (0.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 386.35 561.42 Td (\(1.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.00 561.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 432.10 561.42 Td (\(15.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 454.00 561.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 492.85 561.42 Td (0.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 561.42 Td (\(15.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 561.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 546.87 Td (Impact of foreign exchange) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 277.35 546.87 Td (\(0.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.00 546.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 331.85 546.87 Td (1.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 389.85 546.87 Td (0.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.85 546.87 Td (1.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 489.35 546.87 Td (\(0.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 506.00 546.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.85 546.87 Td (1.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 532.87 Td (Acquisitions) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 104.59 537.63 Td (\(3\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 280.85 532.87 Td (0.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 334.50 532.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 389.85 532.87 Td (6.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.85 532.87 Td (6.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.50 532.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.85 532.87 Td (6.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 518.87 Td (March 31, 2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 270.35 518.87 Td (162.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 321.35 518.87 Td (372.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 384.60 518.87 Td (22.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 430.35 518.87 Td (557.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 482.35 518.87 Td (1) Tj ET Q
q 0 0 0 rg BT 487.60 518.87 Td (12.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 518.87 Td (669.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 503.92 Td (Investment funds, excluding liquidity ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 66.50 493.42 Td (funds:) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 92.75 498.18 Td (\(1\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.50 493.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.50 493.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.50 493.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 506.50 493.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 493.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 69.50 478.87 Td (Subscriptions) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 275.60 478.87 Td (27.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 326.60 478.87 Td (30.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 389.85 478.87 Td (6.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 435.60 478.87 Td (64.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.50 478.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.60 478.87 Td (64.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 69.50 463.42 Td (Redemptions) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 272.10 463.42 Td (\(27.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.00 463.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 323.10 463.42 Td (\(28.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.00 463.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 386.35 463.42 Td (\(9.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.00 463.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 432.10 463.42 Td (\(65.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 454.00 463.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.50 463.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 463.42 Td (\(65.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 463.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 448.87 Td (Separate account flows, net) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 277.35 448.87 Td (\(5.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.00 448.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 331.85 448.87 Td (8.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 386.35 448.87 Td (\(3.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.00 448.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 437.35 448.87 Td (\(0.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 454.00 448.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 492.85 448.87 Td (0.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.85 448.87 Td (0.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 434.87 Td (Liquidity fund flows, net) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 283.50 434.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 334.50 434.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 392.50 434.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 443.50 434.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 484.10 434.87 Td (\(27.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 506.00 434.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 434.87 Td (\(27.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 434.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 420.87 Td (Net client cash flows) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 277.35 420.87 Td (\(5.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.00 420.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 326.60 420.87 Td (10.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 386.35 420.87 Td (\(7.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.00 420.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 437.35 420.87 Td (\(1.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 454.00 420.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 484.10 420.87 Td (\(27.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 506.00 420.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 420.87 Td (\(28.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 420.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 405.42 Td (Market performance and other) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 179.48 410.18 Td ( \(2\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 275.60 405.42 Td (25.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 326.60 405.42 Td (12.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 389.85 405.42 Td (3.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 435.60 405.42 Td (41.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 492.85 405.42 Td (1.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.60 405.42 Td (42.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 390.87 Td (Impact of foreign exchange) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 277.35 390.87 Td (\(0.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.00 390.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 328.35 390.87 Td (\(0.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.00 390.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 386.35 390.87 Td (\(0.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.00 390.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 437.35 390.87 Td (\(1.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 454.00 390.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 492.85 390.87 Td (0.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 541.35 390.87 Td (\(1.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 390.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 375.42 Td (Acquisitions \(dispositions\), net) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 182.46 380.18 Td (\(3\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 277.35 375.42 Td (\(2.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.00 375.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 328.35 375.42 Td (\(0.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.00 375.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 384.60 375.42 Td (48.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 435.60 375.42 Td (46.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 489.35 375.42 Td (\(0.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 506.00 375.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.60 375.42 Td (46.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 360.87 Td (March 31, 2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 270.35 360.87 Td (179.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 321.35 360.87 Td (394.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 384.60 360.87 Td (67.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 430.35 360.87 Td (642.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 487.60 360.87 Td (86.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 360.87 Td (728.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 345.92 Td (Investment funds, excluding liquidity ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 66.50 335.42 Td (funds:) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 92.75 340.18 Td (\(1\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.50 335.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.50 335.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 506.50 335.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 335.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 69.50 320.87 Td (Subscriptions) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 275.60 320.87 Td (22.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 326.60 320.87 Td (36.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 389.85 320.87 Td (6.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 435.60 320.87 Td (65.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.50 320.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.60 320.87 Td (65.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 69.50 306.87 Td (Redemptions) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 272.10 306.87 Td (\(27.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.00 306.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 323.10 306.87 Td (\(23.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.00 306.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 386.35 306.87 Td (\(5.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.00 306.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 432.10 306.87 Td (\(56.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 454.00 306.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.50 306.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 306.87 Td (\(56.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 306.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 292.87 Td (Separate account flows, net ) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 175.58 297.63 Td (\(2\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 277.35 292.87 Td (\(2.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.00 292.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 328.35 292.87 Td (\(3.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.00 292.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 386.35 292.87 Td (\(1.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.00 292.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 437.35 292.87 Td (\(7.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 454.00 292.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 492.85 292.87 Td (1.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 541.35 292.87 Td (\(5.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 292.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 278.87 Td (Liquidity fund flows, net) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 283.50 278.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 334.50 278.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 392.50 278.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 443.50 278.87 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 484.10 278.87 Td (\(25.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 506.00 278.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 278.87 Td (\(25.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 278.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 264.87 Td (Net client cash flows) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 277.35 264.87 Td (\(6.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.00 264.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 331.85 264.87 Td (9.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 386.35 264.87 Td (\(1.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.00 264.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.85 264.87 Td (1.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 484.10 264.87 Td (\(24.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 506.00 264.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 264.87 Td (\(22.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 264.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 249.42 Td (Realizations ) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 106.03 254.18 Td (\(4\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 283.50 249.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 334.50 249.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 386.35 249.42 Td (\(2.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.00 249.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 437.35 249.42 Td (\(2.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 454.00 249.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.50 249.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 541.35 249.42 Td (\(2.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 249.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 233.42 Td (Market performance and other ) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 182.11 238.18 Td (\(2\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 275.60 233.42 Td (28.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 326.60 233.42 Td (14.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 389.85 233.42 Td (1.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 435.60 233.42 Td (44.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 492.85 233.42 Td (0.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.60 233.42 Td (45.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 218.87 Td (Impact of foreign exchange) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 280.85 218.87 Td (1.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 331.85 218.87 Td (4.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 389.85 218.87 Td (0.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.85 218.87 Td (5.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 489.35 218.87 Td (\(0.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 506.00 218.87 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.85 218.87 Td (5.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 204.42 Td (Acquisitions \(dispositions\), net ) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 185.09 209.18 Td (\(3\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 277.35 204.42 Td (\(0.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.00 204.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 334.50 204.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 389.85 204.42 Td (0.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 437.35 204.42 Td (\(0.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 454.00 204.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.50 204.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 541.35 204.42 Td (\(0.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 204.42 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 51.50 190.04 Td (Mar) Tj ET Q
q 0 0 0 rg BT 71.13 190.04 Td (ch 31, 2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 253.50 190.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 270.35 190.04 Td (203.0) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 304.50 190.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 321.35 190.04 Td (422.3) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 355.50 190.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 384.60 190.04 Td (66.1) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 413.50 190.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 430.35 190.04 Td (691.4) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 464.50 190.04 Td ($) Tj ET Q
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q 0 0 0 rg BT 93.64 691.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 110.65 691.50 Td (sub-advisory ) Tj ET Q
q 0 0 0 rg BT 166.75 691.50 Td (accounts ) Tj ET Q
q 0 0 0 rg BT 205.34 691.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 219.43 691.50 Td (insurance ) Tj ET Q
q 0 0 0 rg BT 261.52 691.50 Td (companies ) Tj ET Q
q 0 0 0 rg BT 308.28 691.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 325.29 691.50 Td (similar ) Tj ET Q
q 0 0 0 rg BT 356.31 691.50 Td (clients. ) Tj ET Q
q 0 0 0 rg BT 388.20 691.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 389.64 691.50 Td (Af) Tj ET Q
q 0 0 0 rg BT 400.53 691.50 Td (filiate/Other ) Tj ET Q
q 0 0 0 rg BT 453.70 691.50 Td (consists ) Tj ET Q
q 0 0 0 rg BT 488.81 691.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 499.41 691.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 514.09 691.50 Td (distribution ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.90 Td (operations ) Tj ET Q
q 0 0 0 rg BT 96.18 678.90 Td (within ) Tj ET Q
q 0 0 0 rg BT 125.97 678.90 Td (our ) Tj ET Q
q 0 0 0 rg BT 142.91 678.90 Td (asset ) Tj ET Q
q 0 0 0 rg BT 166.26 678.90 Td (managers, ) Tj ET Q
q 0 0 0 rg BT 212.07 678.90 Td (which ) Tj ET Q
q 0 0 0 rg BT 240.67 678.90 Td (principally ) Tj ET Q
q 0 0 0 rg BT 289.11 678.90 Td (sell ) Tj ET Q
q 0 0 0 rg BT 306.63 678.90 Td (institutional ) Tj ET Q
q 0 0 0 rg BT 359.75 678.90 Td (separate ) Tj ET Q
q 0 0 0 rg BT 397.09 678.90 Td (account ) Tj ET Q
q 0 0 0 rg BT 432.68 678.90 Td (management, ) Tj ET Q
q 0 0 0 rg BT 491.90 678.90 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 530.43 678.90 Td (\(money ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.30 Td (market\) ) Tj ET Q
q 0 0 0 rg BT 84.77 666.30 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 113.36 666.30 Td (real ) Tj ET Q
q 0 0 0 rg BT 131.72 666.30 Td (estate ) Tj ET Q
q 0 0 0 rg BT 158.25 666.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 176.03 666.30 Td (other ) Tj ET Q
q 0 0 0 rg BT 200.23 666.30 Td (privately ) Tj ET Q
q 0 0 0 rg BT 240.18 666.30 Td (placed ) Tj ET Q
q 0 0 0 rg BT 270.20 666.30 Td (investment ) Tj ET Q
q 0 0 0 rg BT 318.90 666.30 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 347.49 666.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 365.27 666.30 Td (funds-of-hedge ) Tj ET Q
q 0 0 0 rg BT 432.04 666.30 Td (funds.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 641.10 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.95 641.10 Td (component ) Tj ET Q
q 0 0 0 rg BT 118.73 641.10 Td (changes ) Tj ET Q
q 0 0 0 rg BT 155.67 641.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 166.97 641.10 Td (our ) Tj ET Q
q 0 0 0 rg BT 183.40 641.10 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 211.03 641.10 Td (by ) Tj ET Q
q 0 0 0 rg BT 224.65 641.10 Td (distribution ) Tj ET Q
q 0 0 0 rg BT 276.20 641.10 Td (channel ) Tj ET Q
q 0 0 0 rg BT 311.97 641.10 Td (\(in ) Tj ET Q
q 0 0 0 rg BT 326.76 641.10 Td (billions\) ) Tj ET Q
q 0 0 0 rg BT 364.89 641.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 380.26 641.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 396.21 641.10 Td (years ) Tj ET Q
q 0 0 0 rg BT 421.49 641.10 Td (ended ) Tj ET Q
q 0 0 0 rg BT 449.69 641.10 Td (March ) Tj ET Q
q 0 0 0 rg BT 480.21 641.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 496.46 641.10 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 523.21 641.10 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 547.34 641.10 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.50 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 75.75 628.50 Td (were ) Tj ET Q
q 0 0 0 rg BT 98.78 628.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 110.15 628.50 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 593.00 263.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
312.00 593.00 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
316.00 593.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 593.00 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.00 593.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
474.00 593.00 14.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
488.00 593.00 74.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 563.00 263.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
312.00 563.00 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
316.00 563.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 563.00 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.00 563.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
474.00 563.00 14.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
488.00 563.00 74.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 533.00 263.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
312.00 533.00 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
316.00 533.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 533.00 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.00 533.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
474.00 533.00 14.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
488.00 533.00 74.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 503.00 263.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
312.00 503.00 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
316.00 503.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 503.00 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.00 503.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
474.00 503.00 14.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
488.00 503.00 74.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 473.00 263.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
312.00 473.00 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
316.00 473.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 473.00 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.00 473.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
474.00 473.00 14.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
488.00 473.00 74.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 443.00 263.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
312.00 443.00 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
316.00 443.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 443.00 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.00 443.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
474.00 443.00 14.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
488.00 443.00 74.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 413.00 263.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
312.00 413.00 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
316.00 413.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 413.00 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.00 413.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
474.00 413.00 14.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
488.00 413.00 74.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 383.00 263.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
312.00 383.00 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
316.00 383.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 383.00 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.00 383.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
474.00 383.00 14.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
488.00 383.00 74.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 353.00 263.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
312.00 353.00 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
316.00 353.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 353.00 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.00 353.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
474.00 353.00 14.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
488.00 353.00 74.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 323.00 263.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
312.00 323.00 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
316.00 323.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 323.00 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.00 323.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
474.00 323.00 14.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
488.00 323.00 74.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 293.00 263.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
312.00 293.00 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
316.00 293.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 293.00 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.00 293.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
474.00 293.00 14.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
488.00 293.00 74.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 263.00 263.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
312.00 263.00 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
316.00 263.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 263.00 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.00 263.00 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
474.00 263.00 14.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
488.00 263.00 74.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 593 m
312 593 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
316 593 m
389 593 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
401 593 m
474 593 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
488 593 m
562 593 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
316 593 m
389 593 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
401 593 m
474 593 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 548 m
312 548 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
316 548 m
389 548 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
401 548 m
474 548 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
488 548 m
562 548 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
316 548 m
389 548 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
401 548 m
474 548 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 488 m
312 488 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
316 488 m
389 488 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
401 488 m
474 488 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
488 488 m
562 488 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
316 488 m
389 488 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
401 488 m
474 488 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
488 488 m
562 488 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 443 m
312 443 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
316 443 m
389 443 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
401 443 m
474 443 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
488 443 m
562 443 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
316 443 m
389 443 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
401 443 m
474 443 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 383 m
312 383 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 383 m
312 383 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
316 383 m
389 383 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
401 383 m
474 383 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
488 383 m
562 383 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 338 m
312 338 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
316 338 m
389 338 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
401 338 m
474 338 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
488 338 m
562 338 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
316 338 m
389 338 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
401 338 m
474 338 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 263 m
312 263 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
401 263 m
474 263 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 263 m
312 263 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 248 m
312 248 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
316 263 m
389 263 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
316 248 m
389 248 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
401 248 m
474 248 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
488 263 m
562 263 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
488 248 m
562 248 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 337.70 608.22 Td (Global ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 322.60 597.72 Td (Distribution) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 373.35 602.48 Td (\(1\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 405.85 597.77 Td (Af) Tj ET Q
q 0 0 0 rg BT 416.83 597.77 Td (filiate/Other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 513.75 597.77 Td (T) Tj ET Q
q 0 0 0 rg BT 519.43 597.77 Td (otal) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 582.77 Td (March 31, 2015) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 318.50 582.77 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 361.35 582.77 Td (270.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.50 582.77 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 446.35 582.77 Td (432.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 490.50 582.77 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 582.77 Td (702.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 567.77 Td (Net client cash flows, excluding liquidity funds) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 368.35 567.77 Td (\(3.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 385.00 567.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 453.35 567.77 Td (\(7.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.00 567.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 567.77 Td (\(1) Tj ET Q
q 0 0 0 rg BT 544.85 567.77 Td (1.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 567.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 552.77 Td (Liquidity fund flows, net) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 374.50 552.77 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.10 552.77 Td (\(15.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.00 552.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 552.77 Td (\(15.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 552.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 537.77 Td (Net client cash flows) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 368.35 537.77 Td (\(3.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 385.00 537.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.10 537.77 Td (\(22.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.00 537.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 537.77 Td (\(26.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 537.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 522.77 Td (Market performance and other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 363.10 522.77 Td (\(13.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 385.00 522.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 453.35 522.77 Td (\(2.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.00 522.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 522.77 Td (\(15.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 522.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 507.77 Td (Impact of foreign exchange) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 371.85 507.77 Td (1.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 456.85 507.77 Td (0.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.85 507.77 Td (1.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 492.77 Td (Acquisitions) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 374.50 492.77 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 456.85 492.77 Td (6.9) Tj ET Q
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 476.50 498.20 Td (\(2\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.85 492.77 Td (6.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 477.77 Td (March 31, 2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 361.35 477.77 Td (254.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 446.35 477.77 Td (415.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 477.77 Td (669.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 462.77 Td (Net client cash flows, excluding liquidity funds) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 371.85 462.77 Td (8.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.10 462.77 Td (\(10.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.00 462.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 541.35 462.77 Td (\(1.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 462.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 447.77 Td (Liquidity fund flows, net) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 374.50 447.77 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.10 447.77 Td (\(27.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.00 447.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 447.77 Td (\(27.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 447.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 432.77 Td (Net client cash flows) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 371.85 432.77 Td (8.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.10 432.77 Td (\(37.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.00 432.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 432.77 Td (\(28.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 432.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 417.77 Td (Market performance and other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 366.60 417.77 Td (22.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 451.60 417.77 Td (20.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.60 417.77 Td (42.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 402.77 Td (Impact of foreign exchange) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 368.35 402.77 Td (\(0.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 385.00 402.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 453.35 402.77 Td (\(0.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.00 402.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 541.35 402.77 Td (\(1.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 402.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 387.77 Td (Acquisitions \(dispositions\), net) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 374.50 387.77 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 451.60 387.77 Td (46.3) Tj ET Q
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 476.50 393.20 Td (\(2\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.60 387.77 Td (46.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 372.77 Td (March 31, 2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 361.35 372.77 Td (285.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 446.35 372.77 Td (442.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 372.77 Td (728.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 357.77 Td (Net client cash flows, excluding liquidity funds) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 366.60 357.77 Td (15.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.10 357.77 Td (\(12.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.00 357.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.85 357.77 Td (2.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.50 342.77 Td (Liquidity fund flows, net) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 374.50 342.77 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.10 342.77 Td (\(25.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.00 342.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 342.77 Td (\(25.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 342.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 327.77 Td (Net client cash flows) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 366.60 327.77 Td (15.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.10 327.77 Td (\(38.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.00 327.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 327.77 Td (\(22.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 327.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 312.77 Td (Realizations ) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 106.03 317.53 Td (\(3\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 374.50 312.77 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 453.35 312.77 Td (\(2.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.00 312.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 541.35 312.77 Td (\(2.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 312.77 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 297.77 Td (Market performance and other ) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 182.11 302.53 Td (\(4\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 366.60 297.77 Td (29.4) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 452.50 297.67 Td (16.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.60 297.77 Td (45.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 282.77 Td (Impact of foreign exchange) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 371.85 282.77 Td (2.7) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 457.50 282.67 Td (2.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.85 282.77 Td (5.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 51.50 267.77 Td (Acquisitions \(dispositions\), net) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 374.50 267.77 Td (�) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 454.15 267.67 Td (\(0.2) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 470.00 267.67 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 541.35 267.77 Td (\(0.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 267.77 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 51.50 252.79 Td (Mar) Tj ET Q
q 0 0 0 rg BT 71.13 252.79 Td (ch 31, 2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 318.50 252.79 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 361.35 252.79 Td (333.5) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 403.50 252.79 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 446.35 252.79 Td (420.6) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 490.50 252.79 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 534.35 252.79 Td (754.1) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 238.90 Td (\(1\) ) Tj ET Q
q 0 0 0 rg BT 60.83 238.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 67.50 238.90 Td (Excludes ) Tj ET Q
q 0 0 0 rg BT 98.60 238.90 Td ($15.9 ) Tj ET Q
q 0 0 0 rg BT 118.38 238.90 Td (billion, ) Tj ET Q
q 0 0 0 rg BT 143.05 238.90 Td ($10.3 ) Tj ET Q
q 0 0 0 rg BT 162.83 238.90 Td (billion, ) Tj ET Q
q 0 0 0 rg BT 187.50 238.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 200.83 238.90 Td ($8.2 ) Tj ET Q
q 0 0 0 rg BT 216.60 238.90 Td (billion ) Tj ET Q
q 0 0 0 rg BT 239.27 238.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 247.32 238.90 Td (AUA) Tj ET Q
q 0 0 0 rg BT 264.21 238.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 265.99 238.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 274.43 238.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 282.88 238.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 305.53 238.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 317.31 238.90 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 337.09 238.90 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 356.87 238.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 370.20 238.90 Td (2015, ) Tj ET Q
q 0 0 0 rg BT 389.98 238.90 Td (respectively) Tj ET Q
q 0 0 0 rg BT 428.11 238.90 Td (. ) Tj ET Q
q 0 0 0 rg BT 431.88 238.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 433.66 238.90 Td (Net ) Tj ET Q
q 0 0 0 rg BT 446.99 238.90 Td (client ) Tj ET Q
q 0 0 0 rg BT 466.54 238.90 Td (cash ) Tj ET Q
q 0 0 0 rg BT 482.53 238.90 Td (flows ) Tj ET Q
q 0 0 0 rg BT 502.09 238.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 513.19 238.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 524.75 238.90 Td (years ) Tj ET Q
q 0 0 0 rg BT 543.40 238.90 Td (ended ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 229.30 Td (March ) Tj ET Q
q 0 0 0 rg BT 90.67 229.30 Td (31, ) Tj ET Q
q 0 0 0 rg BT 102.96 229.30 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 121.25 229.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 135.09 229.30 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 155.38 229.30 Td (excludes ) Tj ET Q
q 0 0 0 rg BT 185.65 229.30 Td ($3.5 ) Tj ET Q
q 0 0 0 rg BT 201.94 229.30 Td (billion ) Tj ET Q
q 0 0 0 rg BT 225.12 229.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 238.96 229.30 Td ($2.1 ) Tj ET Q
q 0 0 0 rg BT 255.25 229.30 Td (billion ) Tj ET Q
q 0 0 0 rg BT 278.43 229.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 286.88 229.30 Td (AUA) Tj ET Q
q 0 0 0 rg BT 303.77 229.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 306.06 229.30 Td (net ) Tj ET Q
q 0 0 0 rg BT 318.12 229.30 Td (inflows, ) Tj ET Q
q 0 0 0 rg BT 346.41 229.30 Td (respectively) Tj ET Q
q 0 0 0 rg BT 384.54 229.30 Td (. ) Tj ET Q
q 0 0 0 rg BT 388.83 229.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 391.12 229.30 Td (Ef) Tj ET Q
q 0 0 0 rg BT 398.52 229.30 Td (fective ) Tj ET Q
q 0 0 0 rg BT 422.07 229.30 Td (April ) Tj ET Q
q 0 0 0 rg BT 441.24 229.30 Td (1, ) Tj ET Q
q 0 0 0 rg BT 449.53 229.30 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 469.82 229.30 Td (a ) Tj ET Q
q 0 0 0 rg BT 475.66 229.30 Td (significant ) Tj ET Q
q 0 0 0 rg BT 511.72 229.30 Td (portion ) Tj ET Q
q 0 0 0 rg BT 537.12 229.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 546.07 229.30 Td (these ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 219.70 Td (assets ) Tj ET Q
q 0 0 0 rg BT 87.98 219.70 Td (were ) Tj ET Q
q 0 0 0 rg BT 105.34 219.70 Td (reclassified ) Tj ET Q
q 0 0 0 rg BT 143.58 219.70 Td (from ) Tj ET Q
q 0 0 0 rg BT 160.55 219.70 Td (AUA) Tj ET Q
q 0 0 0 rg BT 177.44 219.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 179.26 219.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 186.89 219.70 Td (AUM. ) Tj ET Q
q 0 0 0 rg BT 209.38 219.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 210.79 219.70 Td (Accordingly) Tj ET Q
q 0 0 0 rg BT 250.26 219.70 Td (, ) Tj ET Q
q 0 0 0 rg BT 254.08 219.70 Td ($23.8 ) Tj ET Q
q 0 0 0 rg BT 273.90 219.70 Td (billion ) Tj ET Q
q 0 0 0 rg BT 296.60 219.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 305.08 219.70 Td (assets ) Tj ET Q
q 0 0 0 rg BT 325.56 219.70 Td (which ) Tj ET Q
q 0 0 0 rg BT 346.93 219.70 Td (were ) Tj ET Q
q 0 0 0 rg BT 364.29 219.70 Td (previously ) Tj ET Q
q 0 0 0 rg BT 399.88 219.70 Td (included ) Tj ET Q
q 0 0 0 rg BT 429.24 219.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 436.88 219.70 Td (AUA) Tj ET Q
q 0 0 0 rg BT 453.77 219.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 455.59 219.70 Td (are ) Tj ET Q
q 0 0 0 rg BT 467.17 219.70 Td (included ) Tj ET Q
q 0 0 0 rg BT 496.53 219.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 504.17 219.70 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 524.66 219.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 533.14 219.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 541.62 219.70 Td (March ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 210.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 79.50 210.10 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 99.50 210.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 113.05 210.10 Td (net ) Tj ET Q
q 0 0 0 rg BT 124.82 210.10 Td (client ) Tj ET Q
q 0 0 0 rg BT 144.59 210.10 Td (cash ) Tj ET Q
q 0 0 0 rg BT 160.81 210.10 Td (flows ) Tj ET Q
q 0 0 0 rg BT 180.59 210.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 191.91 210.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 203.69 210.10 Td (year ) Tj ET Q
q 0 0 0 rg BT 219.45 210.10 Td (ended ) Tj ET Q
q 0 0 0 rg BT 240.55 210.10 Td (March ) Tj ET Q
q 0 0 0 rg BT 263.43 210.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 275.43 210.10 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 295.43 210.10 Td (include ) Tj ET Q
q 0 0 0 rg BT 320.98 210.10 Td ($5.1 ) Tj ET Q
q 0 0 0 rg BT 336.98 210.10 Td (billion ) Tj ET Q
q 0 0 0 rg BT 359.87 210.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 368.54 210.10 Td (net ) Tj ET Q
q 0 0 0 rg BT 380.31 210.10 Td (inflows ) Tj ET Q
q 0 0 0 rg BT 406.31 210.10 Td (related ) Tj ET Q
q 0 0 0 rg BT 430.07 210.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 438.29 210.10 Td (this ) Tj ET Q
q 0 0 0 rg BT 451.41 210.10 Td (AUM. ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 200.50 Td (\(2\) ) Tj ET Q
q 0 0 0 rg BT 60.83 200.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 67.50 200.50 Td (Includes ) Tj ET Q
q 0 0 0 rg BT 96.82 200.50 Td ($41.5 ) Tj ET Q
q 0 0 0 rg BT 117.03 200.50 Td (billion ) Tj ET Q
q 0 0 0 rg BT 140.14 200.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 153.91 200.50 Td ($9.6 ) Tj ET Q
q 0 0 0 rg BT 170.12 200.50 Td (billion ) Tj ET Q
q 0 0 0 rg BT 193.23 200.50 Td (related ) Tj ET Q
q 0 0 0 rg BT 217.21 200.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 225.64 200.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 237.63 200.50 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 278.07 200.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 286.95 200.50 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 313.16 200.50 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 341.59 200.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 355.36 200.50 Td (EnT) Tj ET Q
q 0 0 0 rg BT 368.85 200.50 Td (rust, ) Tj ET Q
q 0 0 0 rg BT 385.07 200.50 Td (respectively) Tj ET Q
q 0 0 0 rg BT 423.19 200.50 Td (, ) Tj ET Q
q 0 0 0 rg BT 427.41 200.50 Td (of) Tj ET Q
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q 0 0 0 rg BT 156.30 703.95 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 215.95 703.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 226.64 703.95 Td (October ) Tj ET Q
q 0 0 0 rg BT 262.97 703.95 Td (2015, ) Tj ET Q
q 0 0 0 rg BT 289.12 703.95 Td (whose ) Tj ET Q
q 0 0 0 rg BT 318.47 703.95 Td (products ) Tj ET Q
q 0 0 0 rg BT 357.15 703.95 Td (typically ) Tj ET Q
q 0 0 0 rg BT 396.41 703.95 Td (earn ) Tj ET Q
q 0 0 0 rg BT 416.99 703.95 Td (lower ) Tj ET Q
q 0 0 0 rg BT 443.42 703.95 Td (average ) Tj ET Q
q 0 0 0 rg BT 478.58 703.95 Td (fees ) Tj ET Q
q 0 0 0 rg BT 498.00 703.95 Td (than ) Tj ET Q
q 0 0 0 rg BT 518.60 703.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 535.11 703.95 Td (legacy ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 691.35 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 96.39 691.35 Td (asset ) Tj ET Q
q 0 0 0 rg BT 119.39 691.35 Td (products. ) Tj ET Q
q 0 0 0 rg BT 160.76 691.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 163.16 691.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 182.06 691.35 Td (average ) Tj ET Q
q 0 0 0 rg BT 217.29 691.35 Td (fee ) Tj ET Q
q 0 0 0 rg BT 232.69 691.35 Td (rate ) Tj ET Q
q 0 0 0 rg BT 251.01 691.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 265.84 691.35 Td (managing ) Tj ET Q
q 0 0 0 rg BT 309.83 691.35 Td (equity ) Tj ET Q
q 0 0 0 rg BT 338.66 691.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 365.74 691.35 Td (has ) Tj ET Q
q 0 0 0 rg BT 382.32 691.35 Td (declined ) Tj ET Q
q 0 0 0 rg BT 420.47 691.35 Td (over ) Tj ET Q
q 0 0 0 rg BT 441.71 691.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 457.12 691.35 Td (last ) Tj ET Q
q 0 0 0 rg BT 474.29 691.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 494.94 691.35 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 536.60 691.35 Td (due ) Tj ET Q
q 0 0 0 rg BT 554.34 691.35 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 63.94 678.75 Td (previously ) Tj ET Q
q 0 0 0 rg BT 109.88 678.75 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 151.74 678.75 Td (reclassification ) Tj ET Q
q 0 0 0 rg BT 216.91 678.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 227.26 678.75 Td (certain ) Tj ET Q
q 0 0 0 rg BT 257.44 678.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 283.55 678.75 Td (from ) Tj ET Q
q 0 0 0 rg BT 305.22 678.75 Td (AUA) Tj ET Q
q 0 0 0 rg BT 327.38 678.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 329.00 678.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 338.42 678.75 Td (AUM, ) Tj ET Q
q 0 0 0 rg BT 367.16 678.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 377.52 678.75 Td (this ) Tj ET Q
q 0 0 0 rg BT 394.30 678.75 Td (increased ) Tj ET Q
q 0 0 0 rg BT 435.55 678.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 449.64 678.75 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 475.75 678.75 Td (denominator ) Tj ET Q
q 0 0 0 rg BT 530.43 678.75 Td (without ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 57.30 666.15 Td (corresponding ) Tj ET Q
q 0 0 0 rg BT 120.50 666.15 Td (increase ) Tj ET Q
q 0 0 0 rg BT 158.03 666.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 169.33 666.15 Td (operating ) Tj ET Q
q 0 0 0 rg BT 212.12 666.15 Td (revenue. ) Tj ET Q
q 0 0 0 rg BT 251.11 666.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 254.25 666.15 Td (In ) Tj ET Q
q 0 0 0 rg BT 266.13 666.15 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 306.31 666.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 322.27 666.15 Td (average ) Tj ET Q
q 0 0 0 rg BT 358.05 666.15 Td (fee ) Tj ET Q
q 0 0 0 rg BT 374.00 666.15 Td (rate ) Tj ET Q
q 0 0 0 rg BT 392.87 666.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 408.25 666.15 Td (managing ) Tj ET Q
q 0 0 0 rg BT 452.79 666.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 482.18 666.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 509.81 666.15 Td (has ) Tj ET Q
q 0 0 0 rg BT 526.94 666.15 Td (declined ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 653.55 Td (over ) Tj ET Q
q 0 0 0 rg BT 70.46 653.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 85.59 653.55 Td (last ) Tj ET Q
q 0 0 0 rg BT 102.47 653.55 Td (five ) Tj ET Q
q 0 0 0 rg BT 121.10 653.55 Td (years ) Tj ET Q
q 0 0 0 rg BT 145.55 653.55 Td (due ) Tj ET Q
q 0 0 0 rg BT 163.01 653.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 173.48 653.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 180.44 653.55 Td (shift ) Tj ET Q
q 0 0 0 rg BT 201.41 653.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 211.88 653.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 227.01 653.55 Td (mix ) Tj ET Q
q 0 0 0 rg BT 245.64 653.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 256.69 653.55 Td (equity ) Tj ET Q
q 0 0 0 rg BT 285.24 653.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 312.04 653.55 Td (from ) Tj ET Q
q 0 0 0 rg BT 334.75 653.55 Td (higher ) Tj ET Q
q 0 0 0 rg BT 363.87 653.55 Td (fee ) Tj ET Q
q 0 0 0 rg BT 378.99 653.55 Td (equity ) Tj ET Q
q 0 0 0 rg BT 407.54 653.55 Td (products ) Tj ET Q
q 0 0 0 rg BT 446.00 653.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 456.47 653.55 Td (lower ) Tj ET Q
q 0 0 0 rg BT 482.68 653.55 Td (fee ) Tj ET Q
q 0 0 0 rg BT 497.79 653.55 Td (equity ) Tj ET Q
q 0 0 0 rg BT 526.34 653.55 Td (products ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 640.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 69.04 640.95 Td (lower ) Tj ET Q
q 0 0 0 rg BT 97.33 640.95 Td (fees ) Tj ET Q
q 0 0 0 rg BT 118.62 640.95 Td (earned ) Tj ET Q
q 0 0 0 rg BT 150.98 640.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 165.87 640.95 Td (certain ) Tj ET Q
q 0 0 0 rg BT 198.81 640.95 Td (existing ) Tj ET Q
q 0 0 0 rg BT 236.45 640.95 Td (products. ) Tj ET Q
q 0 0 0 rg BT 279.62 640.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 283.68 640.95 Td (This ) Tj ET Q
q 0 0 0 rg BT 306.73 640.95 Td (compares ) Tj ET Q
q 0 0 0 rg BT 351.35 640.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 363.90 640.95 Td (fees ) Tj ET Q
q 0 0 0 rg BT 385.19 640.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 401.82 640.95 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 427.77 640.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 463.06 640.95 Td (assets, ) Tj ET Q
q 0 0 0 rg BT 494.57 640.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 524.61 640.95 Td (averaged ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.35 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 112.61 628.35 Td (27 ) Tj ET Q
q 0 0 0 rg BT 125.56 628.35 Td (basis ) Tj ET Q
q 0 0 0 rg BT 149.02 628.35 Td (points ) Tj ET Q
q 0 0 0 rg BT 177.15 628.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 191.85 628.35 Td (each ) Tj ET Q
q 0 0 0 rg BT 213.54 628.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 224.74 628.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 240.03 628.35 Td (years ) Tj ET Q
q 0 0 0 rg BT 264.64 628.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 292.17 628.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 322.03 628.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 337.61 628.35 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 361.07 628.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 378.68 628.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 404.77 628.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 422.38 628.35 Td (29 ) Tj ET Q
q 0 0 0 rg BT 435.34 628.35 Td (basis ) Tj ET Q
q 0 0 0 rg BT 458.80 628.35 Td (points ) Tj ET Q
q 0 0 0 rg BT 486.93 628.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 501.63 628.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 516.91 628.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 537.44 628.35 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 79.56 615.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 95.34 615.75 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 121.63 615.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 139.44 615.75 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 177.69 615.75 Td (assets, ) Tj ET Q
q 0 0 0 rg BT 207.47 615.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 235.79 615.75 Td (averaged ) Tj ET Q
q 0 0 0 rg BT 276.33 615.75 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 339.64 615.75 Td (13 ) Tj ET Q
q 0 0 0 rg BT 352.80 615.75 Td (basis ) Tj ET Q
q 0 0 0 rg BT 376.45 615.75 Td (points, ) Tj ET Q
q 0 0 0 rg BT 407.41 615.75 Td (12 ) Tj ET Q
q 0 0 0 rg BT 420.57 615.75 Td (basis ) Tj ET Q
q 0 0 0 rg BT 444.22 615.75 Td (points ) Tj ET Q
q 0 0 0 rg BT 472.55 615.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 490.37 615.75 Td (9 ) Tj ET Q
q 0 0 0 rg BT 498.28 615.75 Td (basis ) Tj ET Q
q 0 0 0 rg BT 521.94 615.75 Td (points ) Tj ET Q
q 0 0 0 rg BT 550.26 615.75 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.05 603.15 Td (years ) Tj ET Q
q 0 0 0 rg BT 89.92 603.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 117.71 603.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 147.83 603.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 163.68 603.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 190.02 603.15 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 213.74 603.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 231.62 603.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 257.96 603.15 Td (respectively) Tj ET Q
q 0 0 0 rg BT 308.01 603.15 Td (.��) Tj ET Q
q 0 0 0 rg BT 315.69 603.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 334.74 603.15 Td (average ) Tj ET Q
q 0 0 0 rg BT 370.10 603.15 Td (fee ) Tj ET Q
q 0 0 0 rg BT 385.63 603.15 Td (rate ) Tj ET Q
q 0 0 0 rg BT 404.09 603.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 419.05 603.15 Td (managing ) Tj ET Q
q 0 0 0 rg BT 463.17 603.15 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 501.48 603.15 Td (increased ) Tj ET Q
q 0 0 0 rg BT 543.84 603.15 Td (over ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 63.75 590.55 Td (last ) Tj ET Q
q 0 0 0 rg BT 79.75 590.55 Td (three ) Tj ET Q
q 0 0 0 rg BT 102.16 590.55 Td (years ) Tj ET Q
q 0 0 0 rg BT 125.74 590.55 Td (due ) Tj ET Q
q 0 0 0 rg BT 142.32 590.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 151.91 590.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 157.99 590.55 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 199.06 590.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 208.65 590.55 Td (fee ) Tj ET Q
q 0 0 0 rg BT 222.89 590.55 Td (waivers. ) Tj ET Q
q 0 0 0 rg BT 259.59 590.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 261.01 590.55 Td (Equity ) Tj ET Q
q 0 0 0 rg BT 290.43 590.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 316.35 590.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 330.59 590.55 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 371.09 590.55 Td (managed ) Tj ET Q
q 0 0 0 rg BT 410.41 590.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 422.33 590.55 Td (ClearBridge, ) Tj ET Q
q 0 0 0 rg BT 477.69 590.55 Td (Royce, ) Tj ET Q
q 0 0 0 rg BT 508.56 590.55 Td (Brandywine, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (QS ) Tj ET Q
q 0 0 0 rg BT 68.45 577.95 Td (Investors, ) Tj ET Q
q 0 0 0 rg BT 115.10 577.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 135.79 577.95 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 169.90 577.95 Td (Currie; ) Tj ET Q
q 0 0 0 rg BT 205.18 577.95 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 255.02 577.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 285.05 577.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 303.39 577.95 Td (managed ) Tj ET Q
q 0 0 0 rg BT 346.82 577.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 362.86 577.95 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 399.88 577.95 Td (Partners, ) Tj ET Q
q 0 0 0 rg BT 442.45 577.95 Td (EnT) Tj ET Q
q 0 0 0 rg BT 460.15 577.95 Td (rustPermal, ) Tj ET Q
q 0 0 0 rg BT 513.80 577.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 534.50 577.95 Td (RARE ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (Infrastructure; ) Tj ET Q
q 0 0 0 rg BT 111.01 565.35 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 134.04 565.35 Td (income ) Tj ET Q
q 0 0 0 rg BT 166.40 565.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 192.35 565.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 206.62 565.35 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 247.15 565.35 Td (managed ) Tj ET Q
q 0 0 0 rg BT 286.51 565.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 298.36 565.35 Td (W) Tj ET Q
q 0 0 0 rg BT 307.43 565.35 Td (estern ) Tj ET Q
q 0 0 0 rg BT 333.63 565.35 Td (Asset ) Tj ET Q
q 0 0 0 rg BT 358.42 565.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 375.03 565.35 Td (Brandywine; ) Tj ET Q
q 0 0 0 rg BT 430.73 565.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 447.34 565.35 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 484.39 565.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 510.34 565.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 524.61 565.35 Td (managed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 62.24 552.75 Td (W) Tj ET Q
q 0 0 0 rg BT 71.31 552.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 98.26 552.75 Td (Asset. ) Tj ET Q
q 0 0 0 rg BT 126.63 552.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 129.04 552.75 Td (Fee ) Tj ET Q
q 0 0 0 rg BT 146.61 552.75 Td (rates ) Tj ET Q
q 0 0 0 rg BT 168.84 552.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 183.50 552.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 210.41 552.75 Td (distributed ) Tj ET Q
q 0 0 0 rg BT 257.73 552.75 Td (through ) Tj ET Q
q 0 0 0 rg BT 292.81 552.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 316.79 552.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 347.79 552.75 Td (Global ) Tj ET Q
q 0 0 0 rg BT 378.78 552.75 Td (Distribution, ) Tj ET Q
q 0 0 0 rg BT 434.57 552.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 462.64 552.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 477.87 552.75 Td (predominately ) Tj ET Q
q 0 0 0 rg BT 540.93 552.75 Td (retail ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.49 540.15 Td (nature, ) Tj ET Q
q 0 0 0 rg BT 92.17 540.15 Td (averaged ) Tj ET Q
q 0 0 0 rg BT 132.88 540.15 Td (45 ) Tj ET Q
q 0 0 0 rg BT 146.20 540.15 Td (basis ) Tj ET Q
q 0 0 0 rg BT 170.02 540.15 Td (points ) Tj ET Q
q 0 0 0 rg BT 198.51 540.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 213.57 540.15 Td (each ) Tj ET Q
q 0 0 0 rg BT 235.62 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 247.19 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 262.84 540.15 Td (years ) Tj ET Q
q 0 0 0 rg BT 287.81 540.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 315.70 540.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 345.93 540.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 361.87 540.15 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 385.69 540.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 403.67 540.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 430.12 540.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 448.10 540.15 Td (48 ) Tj ET Q
q 0 0 0 rg BT 461.42 540.15 Td (basis ) Tj ET Q
q 0 0 0 rg BT 485.24 540.15 Td (points ) Tj ET Q
q 0 0 0 rg BT 513.73 540.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 528.79 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 544.44 540.15 Td (year ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (ended ) Tj ET Q
q 0 0 0 rg BT 76.90 527.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 106.64 527.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 122.09 527.55 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 148.05 527.55 Td (while ) Tj ET Q
q 0 0 0 rg BT 173.70 527.55 Td (fee ) Tj ET Q
q 0 0 0 rg BT 188.85 527.55 Td (rates ) Tj ET Q
q 0 0 0 rg BT 211.00 527.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 225.58 527.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 252.41 527.55 Td (distributed ) Tj ET Q
q 0 0 0 rg BT 299.65 527.55 Td (through ) Tj ET Q
q 0 0 0 rg BT 334.64 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 349.29 527.55 Td (Af) Tj ET Q
q 0 0 0 rg BT 360.18 527.55 Td (filiate/Other ) Tj ET Q
q 0 0 0 rg BT 413.82 527.55 Td (channel ) Tj ET Q
q 0 0 0 rg BT 448.80 527.55 Td (averaged ) Tj ET Q
q 0 0 0 rg BT 489.02 527.55 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 552.00 527.55 Td (34 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (basis ) Tj ET Q
q 0 0 0 rg BT 73.13 514.95 Td (points, ) Tj ET Q
q 0 0 0 rg BT 104.05 514.95 Td (35 ) Tj ET Q
q 0 0 0 rg BT 117.17 514.95 Td (basis ) Tj ET Q
q 0 0 0 rg BT 140.80 514.95 Td (points, ) Tj ET Q
q 0 0 0 rg BT 171.72 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 189.51 514.95 Td (32 ) Tj ET Q
q 0 0 0 rg BT 202.63 514.95 Td (basis ) Tj ET Q
q 0 0 0 rg BT 226.26 514.95 Td (points ) Tj ET Q
q 0 0 0 rg BT 254.55 514.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 269.42 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 284.87 514.95 Td (years ) Tj ET Q
q 0 0 0 rg BT 309.65 514.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 337.35 514.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 367.38 514.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 383.13 514.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 409.38 514.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 435.63 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 453.41 514.95 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 479.66 514.95 Td (respectively) Tj ET Q
q 0 0 0 rg BT 529.71 514.95 Td (.) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (Investment ) Tj ET Q
q 0 0 0 rg BT 99.96 489.75 Td (Performance) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (Overall ) Tj ET Q
q 0 0 0 rg BT 83.47 464.55 Td (investment ) Tj ET Q
q 0 0 0 rg BT 132.03 464.55 Td (performance ) Tj ET Q
q 0 0 0 rg BT 187.56 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 198.79 464.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 214.72 464.55 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 241.71 464.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 256.43 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 271.75 464.55 Td (years ) Tj ET Q
q 0 0 0 rg BT 296.38 464.55 Td (ended ) Tj ET Q
q 0 0 0 rg BT 323.94 464.55 Td (March�31, ) Tj ET Q
q 0 0 0 rg BT 369.57 464.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 395.68 464.55 Td (2017 ) Tj ET Q
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0 j
3 M
426 689.65 m
457 689.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
461 689.65 m
492 689.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
496 689.65 m
527 689.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
531 689.65 m
562 689.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 689.65 m
138 689.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
286 689.65 m
317 689.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
321 689.65 m
352 689.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
356 689.65 m
387 689.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
391 689.65 m
422 689.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
426 689.65 m
457 689.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
461 689.65 m
492 689.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
496 689.65 m
527 689.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
531 689.65 m
562 689.65 l
s
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 175.20 707.88 Td (As of Mar) Tj ET Q
q 0 0 0 rg BT 209.71 707.88 Td (ch 31, 2018) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 318.25 707.90 Td (As of March 31, 2017) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 458.25 707.90 Td (As of March 31, 2016) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 148.85 693.88 Td (1-year) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 184.85 693.88 Td (3-year) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 220.85 693.88 Td (5-year) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 252.85 693.88 Td (10-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 293.05 693.90 Td (1-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 328.05 693.90 Td (3-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 363.05 693.90 Td (5-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.05 693.90 Td (10-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 433.05 693.90 Td (1-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 468.05 693.90 Td (3-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 503.05 693.90 Td (5-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 534.05 693.90 Td (10-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 680.90 Td (T) Tj ET Q
q 0 0 0 rg BT 55.83 680.90 Td (otal \(includes liquidity\)) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 680.88 Td (72) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 680.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 680.88 Td (72) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 680.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 680.88 Td (75) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 680.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 680.88 Td (85) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 680.88 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 680.90 Td (79) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 680.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 680.90 Td (71) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 680.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 680.90 Td (80) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 680.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 680.90 Td (88) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 680.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 680.90 Td (48) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 680.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 680.90 Td (66) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 680.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 680.90 Td (86) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 680.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 680.90 Td (82) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 680.90 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 51.50 667.88 Td (Equity:) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 65.00 654.90 Td (Lar) Tj ET Q
q 0 0 0 rg BT 76.03 654.90 Td (ge cap) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 654.88 Td (22) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 654.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 654.88 Td (33) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 654.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 654.88 Td (43) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 654.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 654.88 Td (77) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 654.88 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 654.90 Td (70) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 654.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 654.90 Td (27) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 654.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 654.90 Td (62) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 654.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 654.90 Td (95) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 654.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 654.90 Td (44) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 654.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 654.90 Td (23) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 654.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 654.90 Td (86) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 654.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 654.90 Td (68) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 654.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 65.00 641.90 Td (Small ) Tj ET Q
q 0 0 0 rg BT 85.67 641.90 Td (cap) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 641.88 Td (65) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 641.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 641.88 Td (69) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 641.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 641.88 Td (29) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 641.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 641.88 Td (36) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 641.88 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 641.90 Td (35) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 641.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 641.90 Td (19) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 641.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 641.90 Td (19) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 641.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 641.90 Td (51) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 641.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 641.90 Td (70) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 641.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 641.90 Td (19) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 641.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 641.90 Td (30) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 641.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 641.90 Td (63) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 641.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 65.00 628.90 Td (T) Tj ET Q
q 0 0 0 rg BT 69.61 628.90 Td (otal equity) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 74.00 620.90 Td (\(includes other) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 74.00 612.90 Td (equity\)) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 612.88 Td (29) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 612.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 612.88 Td (43) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 612.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 612.88 Td (44) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 612.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 612.88 Td (73) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 612.88 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 612.90 Td (58) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 612.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 612.90 Td (33) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 612.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 612.90 Td (61) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 612.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 612.90 Td (88) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 612.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 612.90 Td (53) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 612.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 612.90 Td (31) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 612.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 612.90 Td (76) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 612.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 612.90 Td (68) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 612.90 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 51.50 599.88 Td (Fixed income:) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 65.00 586.90 Td (U.S. taxable) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 586.88 Td (95) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 586.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 586.88 Td (88) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 586.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 586.88 Td (88) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 586.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 586.88 Td (88) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 586.88 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 586.90 Td (94) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 586.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 586.90 Td (86) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 586.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 586.90 Td (87) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 586.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 586.90 Td (84) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 586.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 586.90 Td (31) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 586.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 586.90 Td (78) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 586.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 586.90 Td (87) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 586.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 586.90 Td (79) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 586.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 65.00 573.90 Td (U.S. tax-exempt) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 153.50 573.88 Td (100) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 573.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 189.50 573.88 Td (100) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 573.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 225.50 573.88 Td (100) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 573.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 261.50 573.88 Td (100) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 573.88 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 297.80 573.90 Td (100) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 573.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 332.80 573.90 Td (100) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 573.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 367.80 573.90 Td (100) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 573.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 402.80 573.90 Td (100) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 573.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 437.80 573.90 Td (100) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 573.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 480.80 573.90 Td (0) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 573.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 507.80 573.90 Td (100) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 573.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 542.80 573.90 Td (100) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 573.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 65.00 560.90 Td (Global taxable) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 560.88 Td (74) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 560.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 560.88 Td (68) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 560.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 560.88 Td (71) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 560.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 560.88 Td (93) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 560.88 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 560.90 Td (75) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 560.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 560.90 Td (69) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 560.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 560.90 Td (75) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 560.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 560.90 Td (88) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 560.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 560.90 Td (1) Tj ET Q
q 0 0 0 rg BT 445.80 560.90 Td (1) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 560.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 560.90 Td (75) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 560.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 560.90 Td (85) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 560.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 560.90 Td (84) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 560.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 65.00 547.90 Td (T) Tj ET Q
q 0 0 0 rg BT 69.33 547.90 Td (otal fixed income) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 547.88 Td (88) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 547.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 547.88 Td (82) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 547.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 547.88 Td (83) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 547.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 547.88 Td (90) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 547.88 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 547.90 Td (89) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 547.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 547.90 Td (82) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 547.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 547.90 Td (84) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 547.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 547.90 Td (86) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 547.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 547.90 Td (29) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 547.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 547.90 Td (72) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 547.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 547.90 Td (87) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 547.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 547.90 Td (82) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 547.90 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 51.50 534.88 Td (Alternative) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 534.88 Td (68) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 534.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 534.88 Td (65) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 534.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 534.88 Td (92) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 534.88 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 534.88 Td (61) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 534.88 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 534.90 Td (45) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 534.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 534.90 Td (84) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 534.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 534.90 Td (88) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 534.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 534.90 Td (65) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 534.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 534.90 Td (20) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 534.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 534.90 Td (42) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 534.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 534.90 Td (55) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 534.90 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 534.90 Td (96) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 534.90 Td (%) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 506.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 69.33 506.55 Td (following ) Tj ET Q
q 0 0 0 rg BT 113.66 506.55 Td (table ) Tj ET Q
q 0 0 0 rg BT 137.56 506.55 Td (presents ) Tj ET Q
q 0 0 0 rg BT 175.47 506.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 183.63 506.55 Td (summary ) Tj ET Q
q 0 0 0 rg BT 226.21 506.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 238.46 506.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 254.79 506.55 Td (percentages ) Tj ET Q
q 0 0 0 rg BT 307.84 506.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 320.09 506.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 337.59 506.55 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 359.76 506.55 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 392.42 506.55 Td (fund ) Tj ET Q
q 0 0 0 rg BT 415.17 506.55 Td (assets) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 439.67 511.31 Td (\(2\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 447.63 506.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 451.13 506.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 470.37 506.55 Td (outpaced ) Tj ET Q
q 0 0 0 rg BT 511.77 506.55 Td (their ) Tj ET Q
q 0 0 0 rg BT 534.52 506.55 Td (Lipper ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 493.95 Td (category ) Tj ET Q
q 0 0 0 rg BT 88.27 493.95 Td (averages ) Tj ET Q
q 0 0 0 rg BT 127.62 493.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 138.99 493.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 150.37 493.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 180.39 493.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 196.14 493.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 222.39 493.95 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 246.02 493.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 263.81 493.95 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 290.06 493.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 304.92 493.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 320.38 493.95 Td (trailing ) Tj ET Q
q 0 0 0 rg BT 353.33 493.95 Td (1-year) Tj ET Q
q 0 0 0 rg BT 379.72 493.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 384.97 493.95 Td (3-year) Tj ET Q
q 0 0 0 rg BT 411.37 493.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 416.62 493.95 Td (5-year) Tj ET Q
q 0 0 0 rg BT 443.01 493.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 448.26 493.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 466.05 493.95 Td (10-year ) Tj ET Q
q 0 0 0 rg BT 500.74 493.95 Td (periods:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 468.45 89.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
138.00 468.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
142.00 468.45 32.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
174.00 468.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
178.00 468.45 32.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
210.00 468.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
214.00 468.45 32.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
246.00 468.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
250.00 468.45 32.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
282.00 468.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
286.00 468.45 31.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
317.00 468.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
321.00 468.45 31.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 468.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
356.00 468.45 31.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
387.00 468.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
391.00 468.45 31.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
422.00 468.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
426.00 468.45 31.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
457.00 468.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.00 468.45 31.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
492.00 468.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
496.00 468.45 31.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
527.00 468.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
531.00 468.45 31.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 441.45 89.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
138.00 441.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
142.00 441.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
174.00 441.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
178.00 441.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
210.00 441.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
214.00 441.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
246.00 441.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
250.00 441.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
282.00 441.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
286.00 441.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
317.00 441.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
321.00 441.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 441.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
356.00 441.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
387.00 441.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
391.00 441.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
422.00 441.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
426.00 441.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
457.00 441.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.00 441.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
492.00 441.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
496.00 441.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
527.00 441.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
531.00 441.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 415.45 89.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
138.00 415.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
142.00 415.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
174.00 415.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
178.00 415.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
210.00 415.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
214.00 415.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
246.00 415.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
250.00 415.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
282.00 415.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
286.00 415.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
317.00 415.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
321.00 415.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 415.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
356.00 415.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
387.00 415.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
391.00 415.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
422.00 415.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
426.00 415.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
457.00 415.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.00 415.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
492.00 415.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
496.00 415.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
527.00 415.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
531.00 415.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 373.45 89.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
138.00 373.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
142.00 373.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
174.00 373.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
178.00 373.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
210.00 373.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
214.00 373.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
246.00 373.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
250.00 373.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
282.00 373.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
286.00 373.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
317.00 373.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
321.00 373.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 373.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
356.00 373.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
387.00 373.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
391.00 373.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
422.00 373.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
426.00 373.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
457.00 373.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.00 373.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
492.00 373.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
496.00 373.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
527.00 373.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
531.00 373.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 347.45 89.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
138.00 347.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
142.00 347.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
174.00 347.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
178.00 347.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
210.00 347.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
214.00 347.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
246.00 347.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
250.00 347.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
282.00 347.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
286.00 347.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
317.00 347.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
321.00 347.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 347.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
356.00 347.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
387.00 347.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
391.00 347.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
422.00 347.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
426.00 347.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
457.00 347.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.00 347.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
492.00 347.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
496.00 347.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
527.00 347.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
531.00 347.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 321.45 89.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
138.00 321.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
142.00 321.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
174.00 321.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
178.00 321.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
210.00 321.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
214.00 321.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
246.00 321.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
250.00 321.45 32.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
282.00 321.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
286.00 321.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
317.00 321.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
321.00 321.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 321.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
356.00 321.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
387.00 321.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
391.00 321.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
422.00 321.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
426.00 321.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
457.00 321.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.00 321.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
492.00 321.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
496.00 321.45 31.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
527.00 321.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
531.00 321.45 31.00 -13.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
142 468.45 m
174 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
174 468.45 m
178 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
178 468.45 m
210 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
210 468.45 m
214 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
214 468.45 m
246 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
246 468.45 m
250 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
250 468.45 m
282 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
286 468.45 m
317 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
317 468.45 m
321 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
321 468.45 m
352 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
352 468.45 m
356 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
356 468.45 m
387 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
387 468.45 m
391 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
391 468.45 m
422 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
426 468.45 m
457 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
457 468.45 m
461 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
461 468.45 m
492 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
492 468.45 m
496 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
496 468.45 m
527 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
527 468.45 m
531 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
531 468.45 m
562 468.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 454.45 m
138 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
142 454.45 m
174 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
178 454.45 m
210 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
214 454.45 m
246 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
250 454.45 m
282 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
286 454.45 m
317 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
321 454.45 m
352 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
356 454.45 m
387 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
391 454.45 m
422 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
426 454.45 m
457 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
461 454.45 m
492 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
496 454.45 m
527 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
531 454.45 m
562 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 454.45 m
138 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
286 454.45 m
317 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
321 454.45 m
352 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
356 454.45 m
387 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
391 454.45 m
422 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
426 454.45 m
457 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
461 454.45 m
492 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
496 454.45 m
527 454.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
531 454.45 m
562 454.45 l
s
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 175.20 472.68 Td (As of Mar) Tj ET Q
q 0 0 0 rg BT 209.71 472.68 Td (ch 31, 2018) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 318.25 472.70 Td (As of March 31, 2017) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 458.25 472.70 Td (As of March 31, 2016) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 148.85 458.68 Td (1-year) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 184.85 458.68 Td (3-year) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 220.85 458.68 Td (5-year) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 252.85 458.68 Td (10-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 293.05 458.70 Td (1-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 328.05 458.70 Td (3-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 363.05 458.70 Td (5-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.05 458.70 Td (10-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 433.05 458.70 Td (1-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 468.05 458.70 Td (3-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 503.05 458.70 Td (5-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 534.05 458.70 Td (10-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 445.70 Td (T) Tj ET Q
q 0 0 0 rg BT 55.83 445.70 Td (otal \(excludes liquidity\)) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 445.68 Td (58) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 445.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 445.68 Td (64) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 445.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 445.68 Td (63) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 445.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 445.68 Td (68) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 445.68 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 445.70 Td (65) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 445.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 445.70 Td (63) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 445.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 445.70 Td (70) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 445.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 445.70 Td (78) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 445.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 445.70 Td (48) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 445.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 445.70 Td (61) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 445.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 445.70 Td (72) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 445.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 445.70 Td (65) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 445.70 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 51.50 432.68 Td (Equity:) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 65.00 419.70 Td (Lar) Tj ET Q
q 0 0 0 rg BT 76.03 419.70 Td (ge cap) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 419.68 Td (19) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 419.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 419.68 Td (51) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 419.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 419.68 Td (47) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 419.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 419.68 Td (48) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 419.68 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 419.70 Td (60) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 419.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 419.70 Td (62) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 419.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 419.70 Td (81) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 419.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 419.70 Td (82) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 419.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 419.70 Td (47) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 419.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 419.70 Td (69) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 419.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 419.70 Td (89) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 419.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 419.70 Td (52) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 419.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 65.00 406.70 Td (Small ) Tj ET Q
q 0 0 0 rg BT 85.67 406.70 Td (cap) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 406.68 Td (68) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 406.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 406.68 Td (77) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 406.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 406.68 Td (39) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 406.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 406.68 Td (59) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 406.68 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 406.70 Td (67) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 406.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 406.70 Td (21) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 406.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 406.70 Td (26) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 406.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 406.70 Td (60) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 406.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 406.70 Td (36) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 406.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 406.70 Td (15) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 406.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 406.70 Td (20) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 406.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 406.70 Td (60) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 406.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 65.00 393.70 Td (T) Tj ET Q
q 0 0 0 rg BT 69.61 393.70 Td (otal equity) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 74.00 385.70 Td (\(includes other) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 74.00 377.70 Td (equity\)) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 377.68 Td (32) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 377.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 377.68 Td (56) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 377.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 377.68 Td (46) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 377.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 377.68 Td (55) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 377.68 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 377.70 Td (57) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 377.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 377.70 Td (49) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 377.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 377.70 Td (64) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 377.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 377.70 Td (75) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 377.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 377.70 Td (45) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 377.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 377.70 Td (52) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 377.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 377.70 Td (67) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 377.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 377.70 Td (54) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 377.70 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 51.50 364.68 Td (Fixed income:) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 65.00 351.70 Td (U.S. taxable) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 351.68 Td (97) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 351.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 351.68 Td (90) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 351.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 351.68 Td (88) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 351.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 351.68 Td (86) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 351.68 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 351.70 Td (92) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 351.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 351.70 Td (86) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 351.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 351.70 Td (85) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 351.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 351.70 Td (84) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 351.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 351.70 Td (76) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 351.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 351.70 Td (83) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 351.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 351.70 Td (84) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 351.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 351.70 Td (81) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 351.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 65.00 338.70 Td (U.S. tax-exempt) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 338.68 Td (61) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 338.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 338.68 Td (19) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 338.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 338.68 Td (60) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 338.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 338.68 Td (75) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 338.68 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 338.70 Td (43) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 338.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 338.70 Td (60) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 338.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 338.70 Td (59) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 338.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 338.70 Td (87) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 338.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 338.70 Td (1) Tj ET Q
q 0 0 0 rg BT 445.80 338.70 Td (1) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 338.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 338.70 Td (51) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 338.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 338.70 Td (63) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 338.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 338.70 Td (88) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 338.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 65.00 325.70 Td (Global taxable) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 325.68 Td (73) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 325.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 325.68 Td (71) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 325.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 325.68 Td (82) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 325.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 325.68 Td (80) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 325.68 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 325.70 Td (50) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 325.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 325.70 Td (78) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 325.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 325.70 Td (82) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 325.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 325.70 Td (61) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 325.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 325.70 Td (30) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 325.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 325.70 Td (75) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 325.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 325.70 Td (83) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 325.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 325.70 Td (50) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 325.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 65.00 312.70 Td (T) Tj ET Q
q 0 0 0 rg BT 69.33 312.70 Td (otal fixed income) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 312.68 Td (86) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 312.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 193.50 312.68 Td (73) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 312.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 312.68 Td (81) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 312.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 265.50 312.68 Td (83) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 273.50 312.68 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 312.70 Td (75) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 312.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 336.80 312.70 Td (79) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 312.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 371.80 312.70 Td (78) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 312.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 406.80 312.70 Td (82) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 414.80 312.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.80 312.70 Td (51) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 312.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 476.80 312.70 Td (73) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 312.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 511.80 312.70 Td (78) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 312.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 546.80 312.70 Td (81) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 554.80 312.70 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 51.50 299.68 Td (Alternative \(includes) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 60.50 291.68 Td (only thr) Tj ET Q
q 0 0 0 rg BT 87.69 291.68 Td (ee funds\)) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 157.50 291.68 Td (10) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 165.50 291.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 197.50 291.68 Td (0) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 201.50 291.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 229.50 291.68 Td (93) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 237.50 291.68 Td (%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 267.80 291.68 Td (n/a) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 301.80 291.70 Td (98) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 309.80 291.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 332.80 291.70 Td (100) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.80 291.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 367.80 291.70 Td (100) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 379.80 291.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 408.70 291.70 Td (n/a) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 445.80 291.70 Td (0) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 449.80 291.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 472.80 291.70 Td (100) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 484.80 291.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 507.80 291.70 Td (100) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 519.80 291.70 Td (%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 548.70 291.70 Td (n/a) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 278.35 Td (n/a ) Tj ET Q
q 0 0 0 rg BT 61.27 278.35 Td (- ) Tj ET Q
q 0 0 0 rg BT 65.94 278.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 78.16 278.35 Td (applicable) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 257.95 Td (\(1\) ) Tj ET Q
q 0 0 0 rg BT 67.50 257.95 Td (For ) Tj ET Q
q 0 0 0 rg BT 81.61 257.95 Td (purposes ) Tj ET Q
q 0 0 0 rg BT 114.14 257.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 123.53 257.95 Td (investment ) Tj ET Q
q 0 0 0 rg BT 163.14 257.95 Td (performance ) Tj ET Q
q 0 0 0 rg BT 208.39 257.95 Td (comparisons, ) Tj ET Q
q 0 0 0 rg BT 255.79 257.95 Td (strategies ) Tj ET Q
q 0 0 0 rg BT 290.19 257.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 302.88 257.95 Td (an ) Tj ET Q
q 0 0 0 rg BT 313.21 257.95 Td (aggregation ) Tj ET Q
q 0 0 0 rg BT 355.64 257.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 365.02 257.95 Td (portfolios ) Tj ET Q
q 0 0 0 rg BT 400.38 257.95 Td (\(separate ) Tj ET Q
q 0 0 0 rg BT 433.36 257.95 Td (accounts, ) Tj ET Q
q 0 0 0 rg BT 467.53 257.95 Td (investment ) Tj ET Q
q 0 0 0 rg BT 507.14 257.95 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 530.46 257.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 545.04 257.95 Td (other ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 247.75 Td (products\) ) Tj ET Q
q 0 0 0 rg BT 101.55 247.75 Td (into ) Tj ET Q
q 0 0 0 rg BT 116.71 247.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 122.43 247.75 Td (single ) Tj ET Q
q 0 0 0 rg BT 144.67 247.75 Td (group ) Tj ET Q
q 0 0 0 rg BT 166.45 247.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 181.14 247.75 Td (represents ) Tj ET Q
q 0 0 0 rg BT 217.54 247.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 223.25 247.75 Td (particular ) Tj ET Q
q 0 0 0 rg BT 257.76 247.75 Td (investment ) Tj ET Q
q 0 0 0 rg BT 297.00 247.75 Td (objective. ) Tj ET Q
q 0 0 0 rg BT 332.23 247.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 334.17 247.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 336.11 247.75 Td (In ) Tj ET Q
q 0 0 0 rg BT 345.13 247.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 357.46 247.75 Td (case ) Tj ET Q
q 0 0 0 rg BT 374.03 247.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 383.05 247.75 Td (separate ) Tj ET Q
q 0 0 0 rg BT 412.84 247.75 Td (accounts, ) Tj ET Q
q 0 0 0 rg BT 446.64 247.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 458.97 247.75 Td (investment ) Tj ET Q
q 0 0 0 rg BT 498.21 247.75 Td (performance ) Tj ET Q
q 0 0 0 rg BT 543.10 247.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 552.13 247.75 Td (the ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 237.55 Td (account ) Tj ET Q
q 0 0 0 rg BT 96.37 237.55 Td (is ) Tj ET Q
q 0 0 0 rg BT 104.48 237.55 Td (based ) Tj ET Q
q 0 0 0 rg BT 126.27 237.55 Td (upon ) Tj ET Q
q 0 0 0 rg BT 145.71 237.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 158.53 237.55 Td (performance ) Tj ET Q
q 0 0 0 rg BT 203.92 237.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 213.43 237.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 226.26 237.55 Td (strategy ) Tj ET Q
q 0 0 0 rg BT 255.60 237.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 264.65 237.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 287.87 237.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 300.69 237.55 Td (account ) Tj ET Q
q 0 0 0 rg BT 329.56 237.55 Td (has ) Tj ET Q
q 0 0 0 rg BT 343.33 237.55 Td (been ) Tj ET Q
q 0 0 0 rg BT 361.81 237.55 Td (assigned. ) Tj ET Q
q 0 0 0 rg BT 395.65 237.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 398.09 237.55 Td (Each ) Tj ET Q
q 0 0 0 rg BT 417.52 237.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 427.03 237.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 440.80 237.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 459.77 237.55 Td (managers ) Tj ET Q
q 0 0 0 rg BT 494.77 237.55 Td (has ) Tj ET Q
q 0 0 0 rg BT 508.54 237.55 Td (its ) Tj ET Q
q 0 0 0 rg BT 519.01 237.55 Td (own ) Tj ET Q
q 0 0 0 rg BT 536.09 237.55 Td (specific ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 227.35 Td (guidelines ) Tj ET Q
q 0 0 0 rg BT 104.61 227.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 116.69 227.35 Td (including ) Tj ET Q
q 0 0 0 rg BT 150.97 227.35 Td (portfolios ) Tj ET Q
q 0 0 0 rg BT 186.20 227.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 194.98 227.35 Td (their ) Tj ET Q
q 0 0 0 rg BT 212.73 227.35 Td (strategies. ) Tj ET Q
q 0 0 0 rg BT 249.13 227.35 Td (For ) Tj ET Q
q 0 0 0 rg BT 263.11 227.35 Td (those ) Tj ET Q
q 0 0 0 rg BT 283.23 227.35 Td (managers ) Tj ET Q
q 0 0 0 rg BT 317.97 227.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 340.91 227.35 Td (manage ) Tj ET Q
q 0 0 0 rg BT 369.52 227.35 Td (both ) Tj ET Q
q 0 0 0 rg BT 386.80 227.35 Td (separate ) Tj ET Q
q 0 0 0 rg BT 416.81 227.35 Td (accounts ) Tj ET Q
q 0 0 0 rg BT 448.72 227.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 463.17 227.35 Td (investment ) Tj ET Q
q 0 0 0 rg BT 502.64 227.35 Td (funds ) Tj ET Q
q 0 0 0 rg BT 523.70 227.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 532.49 227.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 545.04 227.35 Td (same ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 217.15 Td (strategy) Tj ET Q
q 0 0 0 rg BT 93.86 217.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 98.11 217.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 110.62 217.15 Td (performance ) Tj ET Q
q 0 0 0 rg BT 155.69 217.15 Td (comparison ) Tj ET Q
q 0 0 0 rg BT 197.47 217.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 209.51 217.15 Td (all ) Tj ET Q
q 0 0 0 rg BT 220.13 217.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 229.33 217.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 241.84 217.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 263.80 217.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 271.59 217.15 Td (based ) Tj ET Q
q 0 0 0 rg BT 293.07 217.15 Td (upon ) Tj ET Q
q 0 0 0 rg BT 312.20 217.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 324.71 217.15 Td (performance ) Tj ET Q
q 0 0 0 rg BT 369.78 217.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 378.98 217.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 391.49 217.15 Td (separate ) Tj ET Q
q 0 0 0 rg BT 421.46 217.15 Td (account.) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 196.75 Td (As ) Tj ET Q
q 0 0 0 rg BT 78.77 196.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 87.67 196.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 111.67 196.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 124.11 196.75 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 145.06 196.75 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 163.88 196.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 177.97 196.75 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 198.91 196.75 Td (87%, ) Tj ET Q
q 0 0 0 rg BT 218.44 196.75 Td (88% ) Tj ET Q
q 0 0 0 rg BT 235.83 196.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 249.93 196.75 Td (91% ) Tj ET Q
q 0 0 0 rg BT 267.33 196.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 276.23 196.75 Td (total ) Tj ET Q
q 0 0 0 rg BT 292.75 196.75 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 314.41 196.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 321.89 196.75 Td (included ) Tj ET Q
q 0 0 0 rg BT 352.98 196.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 361.41 196.75 Td (strategy ) Tj ET Q
q 0 0 0 rg BT 389.74 196.75 Td (AUM, ) Tj ET Q
q 0 0 0 rg BT 413.52 196.75 Td (respectively) Tj ET Q
q 0 0 0 rg BT 454.03 196.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 457.98 196.75 Td (although ) Tj ET Q
q 0 0 0 rg BT 489.54 196.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 502.22 196.75 Td (all ) Tj ET Q
q 0 0 0 rg BT 512.54 196.75 Td (strategies ) Tj ET Q
q 0 0 0 rg BT 546.46 196.75 Td (have ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 186.55 Td (3-year) Tj ET Q
q 0 0 0 rg BT 88.87 186.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 94.22 186.55 Td (5-year) Tj ET Q
q 0 0 0 rg BT 115.58 186.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 120.93 186.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 136.43 186.55 Td (10-year ) Tj ET Q
q 0 0 0 rg BT 165.61 186.55 Td (histories.� ) Tj ET Q
q 0 0 0 rg BT 201.66 186.55 Td (T) Tj ET Q
q 0 0 0 rg BT 206.25 186.55 Td (otal ) Tj ET Q
q 0 0 0 rg BT 222.23 186.55 Td (strategy ) Tj ET Q
q 0 0 0 rg BT 251.65 186.55 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 274.71 186.55 Td (includes ) Tj ET Q
q 0 0 0 rg BT 306.26 186.55 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 338.29 186.55 Td (assets. ) Tj ET Q
q 0 0 0 rg BT 363.47 186.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 366.70 186.55 Td (Certain ) Tj ET Q
q 0 0 0 rg BT 394.94 186.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 418.00 186.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 431.60 186.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 445.68 186.55 Td (included ) Tj ET Q
q 0 0 0 rg BT 478.18 186.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 488.01 186.55 Td (reported ) Tj ET Q
q 0 0 0 rg BT 519.56 186.55 Td (performance ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 176.35 Td (comparisons. ) Tj ET Q
q 0 0 0 rg BT 114.61 176.35 Td (These ) Tj ET Q
q 0 0 0 rg BT 137.07 176.35 Td (include: ) Tj ET Q
q 0 0 0 rg BT 166.63 176.35 Td (accounts ) Tj ET Q
q 0 0 0 rg BT 198.54 176.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 213.46 176.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 226.01 176.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 239.04 176.35 Td (managed ) Tj ET Q
q 0 0 0 rg BT 271.89 176.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 280.68 176.35 Td (accordance ) Tj ET Q
q 0 0 0 rg BT 321.07 176.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 338.35 176.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 350.91 176.35 Td (guidelines ) Tj ET Q
q 0 0 0 rg BT 388.02 176.35 Td (outlined ) Tj ET Q
q 0 0 0 rg BT 418.05 176.35 Td (above; ) Tj ET Q
q 0 0 0 rg BT 442.88 176.35 Td (accounts ) Tj ET Q
q 0 0 0 rg BT 474.79 176.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 483.57 176.35 Td (strategies ) Tj ET Q
q 0 0 0 rg BT 517.84 176.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 530.88 176.35 Td (marketed ) Tj ET Q
BT /F1 8.50 Tf ET
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q 0 0 0 rg BT 76.24 166.15 Td (potential ) Tj ET Q
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q 0 0 0 rg BT 474.52 678.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 492.56 678.75 Td (most ) Tj ET Q
q 0 0 0 rg BT 514.70 678.75 Td (meaningful ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.15 Td (exclusion ) Tj ET Q
q 0 0 0 rg BT 92.63 666.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 104.26 666.15 Td (funds ) Tj ET Q
q 0 0 0 rg BT 130.49 666.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 146.19 666.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 163.08 666.15 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 210.27 666.15 Td (fund ) Tj ET Q
q 0 0 0 rg BT 232.41 666.15 Td (strategies, ) Tj ET Q
q 0 0 0 rg BT 277.57 666.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 306.12 666.15 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 348.08 666.15 Td (involve ) Tj ET Q
q 0 0 0 rg BT 382.47 666.15 Td (privately ) Tj ET Q
q 0 0 0 rg BT 422.67 666.15 Td (placed ) Tj ET Q
q 0 0 0 rg BT 452.96 666.15 Td (hedge ) Tj ET Q
q 0 0 0 rg BT 480.92 666.15 Td (funds ) Tj ET Q
q 0 0 0 rg BT 507.14 666.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 525.19 666.15 Td (privately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 653.55 Td (placed ) Tj ET Q
q 0 0 0 rg BT 79.38 653.55 Td (real ) Tj ET Q
q 0 0 0 rg BT 97.60 653.55 Td (estate ) Tj ET Q
q 0 0 0 rg BT 123.99 653.55 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 152.43 653.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 170.07 653.55 Td (represent ) Tj ET Q
q 0 0 0 rg BT 211.03 653.55 Td (only ) Tj ET Q
q 0 0 0 rg BT 232.18 653.55 Td (5% ) Tj ET Q
q 0 0 0 rg BT 248.66 653.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 259.89 653.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 276.37 653.55 Td (total ) Tj ET Q
q 0 0 0 rg BT 296.97 653.55 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 323.96 653.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 335.19 653.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 346.42 653.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 376.30 653.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 391.91 653.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 418.02 653.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 432.74 653.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 460.89 653.55 Td (investment ) Tj ET Q
q 0 0 0 rg BT 509.45 653.55 Td (performance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 640.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 58.47 640.95 Td (not ) Tj ET Q
q 0 0 0 rg BT 73.85 640.95 Td (made ) Tj ET Q
q 0 0 0 rg BT 98.55 640.95 Td (publicly ) Tj ET Q
q 0 0 0 rg BT 134.92 640.95 Td (available. ) Tj ET Q
q 0 0 0 rg BT 177.41 640.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 179.37 640.95 Td (Presenting ) Tj ET Q
q 0 0 0 rg BT 225.66 640.95 Td (investment ) Tj ET Q
q 0 0 0 rg BT 273.70 640.95 Td (returns ) Tj ET Q
q 0 0 0 rg BT 304.82 640.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 315.53 640.95 Td (funds ) Tj ET Q
q 0 0 0 rg BT 340.82 640.95 Td (provides ) Tj ET Q
q 0 0 0 rg BT 378.95 640.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 385.57 640.95 Td (relevant ) Tj ET Q
q 0 0 0 rg BT 421.35 640.95 Td (representation ) Tj ET Q
q 0 0 0 rg BT 482.78 640.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 493.49 640.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 509.45 640.95 Td (performance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.35 Td (while ) Tj ET Q
q 0 0 0 rg BT 75.94 628.35 Td (avoiding ) Tj ET Q
q 0 0 0 rg BT 115.80 628.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 131.73 628.35 Td (many ) Tj ET Q
q 0 0 0 rg BT 158.17 628.35 Td (complexities ) Tj ET Q
q 0 0 0 rg BT 214.94 628.35 Td (relating ) Tj ET Q
q 0 0 0 rg BT 250.12 628.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 261.40 628.35 Td (factors ) Tj ET Q
q 0 0 0 rg BT 293.08 628.35 Td (such ) Tj ET Q
q 0 0 0 rg BT 315.44 628.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 327.29 628.35 Td (multiple ) Tj ET Q
q 0 0 0 rg BT 365.40 628.35 Td (fee ) Tj ET Q
q 0 0 0 rg BT 381.33 628.35 Td (structures, ) Tj ET Q
q 0 0 0 rg BT 427.89 628.35 Td (bundled ) Tj ET Q
q 0 0 0 rg BT 464.83 628.35 Td (pricing, ) Tj ET Q
q 0 0 0 rg BT 500.31 628.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 518.58 628.35 Td (asset ) Tj ET Q
q 0 0 0 rg BT 542.10 628.35 Td (level ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.75 Td (break ) Tj ET Q
q 0 0 0 rg BT 75.44 615.75 Td (points, ) Tj ET Q
q 0 0 0 rg BT 106.36 615.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 124.73 615.75 Td (would ) Tj ET Q
q 0 0 0 rg BT 153.61 615.75 Td (arise ) Tj ET Q
q 0 0 0 rg BT 176.06 615.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 186.85 615.75 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 227.96 615.75 Td (performance ) Tj ET Q
q 0 0 0 rg BT 283.64 615.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 298.51 615.75 Td (strategies ) Tj ET Q
q 0 0 0 rg BT 340.79 615.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 352.16 615.75 Td (other ) Tj ET Q
q 0 0 0 rg BT 376.36 615.75 Td (product ) Tj ET Q
q 0 0 0 rg BT 411.06 615.75 Td (aggregations.) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 532.65 175.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 532.65 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
281.00 532.65 56.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.00 532.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 532.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 532.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 532.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 532.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 506.65 175.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 506.65 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
281.00 506.65 56.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.00 506.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 506.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 506.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 506.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 506.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 480.65 175.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 480.65 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
281.00 480.65 56.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.00 480.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 480.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 480.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 480.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 480.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 454.65 175.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 454.65 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
281.00 454.65 56.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.00 454.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 454.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 454.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 454.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 454.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 428.65 175.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 428.65 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
281.00 428.65 56.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.00 428.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 428.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 428.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 428.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 428.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 402.65 175.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 402.65 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
281.00 402.65 56.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.00 402.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 402.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 402.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 402.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 402.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 376.65 175.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 376.65 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
281.00 376.65 56.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.00 376.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 376.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 376.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 376.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 376.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 350.65 175.00 -21.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 350.65 57.00 -21.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
281.00 350.65 56.00 -21.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.00 350.65 45.00 -21.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 350.65 45.00 -21.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 350.65 45.00 -21.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 350.65 45.00 -21.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 350.65 45.00 -21.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 303.65 175.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 303.65 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
281.00 303.65 56.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.00 303.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 303.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 303.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 303.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 303.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 277.65 175.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 277.65 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
281.00 277.65 56.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.00 277.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 277.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 277.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 277.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 277.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 251.65 175.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 251.65 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
281.00 251.65 56.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.00 251.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 251.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 251.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 251.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 251.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 225.65 175.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 225.65 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
281.00 225.65 56.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.00 225.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 225.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 225.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 225.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 225.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 199.65 175.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 199.65 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
281.00 199.65 56.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.00 199.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.00 199.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 199.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 199.65 45.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 199.65 45.00 -13.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
337 579.65 m
382 579.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
382 579.65 m
427 579.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
427 579.65 m
472 579.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
472 579.65 m
517 579.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
517 579.65 m
562 579.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 558.65 m
224 558.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
224 558.65 m
281 558.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
281 558.65 m
337 558.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
337 558.65 m
382 558.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
382 558.65 m
427 558.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
427 558.65 m
472 558.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
472 558.65 m
517 558.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
517 558.65 m
562 558.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
224 558.65 m
281 558.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
281 558.65 m
337 558.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
337 558.65 m
382 558.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
382 558.65 m
427 558.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
427 558.65 m
472 558.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
472 558.65 m
517 558.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
517 558.65 m
562 558.65 l
s
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 347.90 583.90 Td (Annualized ) Tj ET Q
q 0 0 0 rg BT 386.55 583.90 Td (Absolute/Relative ) Tj ET Q
q 0 0 0 rg BT 446.03 583.90 Td (T) Tj ET Q
q 0 0 0 rg BT 450.56 583.90 Td (otal Return \(%\) vs. Benchmark) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 562.90 Td (Fund Name/) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 91.27 562.90 Td (Index) Tj ET Q
BT /F4 8.00 Tf ET
BT /F4 5.20 Tf ET
q 0 0 0 rg BT 109.04 566.53 Td (\(1\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 228.30 562.90 Td (Inception Date) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 288.05 570.90 Td (Performance ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 297.50 562.90 Td (T) Tj ET Q
q 0 0 0 rg BT 301.83 562.90 Td (ype) Tj ET Q
BT /F1 8.00 Tf ET
BT /F1 5.20 Tf ET
q 0 0 0 rg BT 313.38 566.53 Td (\(2\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 348.75 562.90 Td (1-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.75 562.90 Td (3-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.75 562.90 Td (5-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 481.75 562.90 Td (10-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 523.85 562.90 Td (Inception) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 51.50 549.88 Td (Equity) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 56.00 536.88 Td (Large Cap) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 523.90 Td (ClearBridge ) Tj ET Q
q 0 0 0 rg BT 92.38 523.90 Td (Aggressive Growth Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 233.75 523.90 Td (10/24/1983) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 294.05 523.90 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 348.65 523.90 Td (5.81%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.65 523.90 Td (4.01%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.65 523.90 Td (10.64%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.65 523.90 Td (9.44%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.65 523.90 Td (1) Tj ET Q
q 0 0 0 rg BT 530.65 523.90 Td (1.84%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 510.90 Td (Russell 3000 Gr) Tj ET Q
q 0 0 0 rg BT 103.35 510.90 Td (owth) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 295.15 510.90 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 344.00 510.90 Td (\(15.25\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 391.00 510.90 Td (\(8.56\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.00 510.90 Td (\(4.68\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 481.00 510.90 Td (\(1.87\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.65 510.90 Td (1.48%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 497.90 Td (ClearBridge Lar) Tj ET Q
q 0 0 0 rg BT 103.63 497.90 Td (ge Cap Growth Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 235.75 497.90 Td (8/29/1997) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 294.05 497.90 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 346.65 497.90 Td (19.50%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 391.65 497.90 Td (12.85%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.65 497.90 Td (15.67%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 481.65 497.90 Td (1) Tj ET Q
q 0 0 0 rg BT 485.65 497.90 Td (1.28%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.65 497.90 Td (8.79%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 484.90 Td (Russell 1000 Gr) Tj ET Q
q 0 0 0 rg BT 103.35 484.90 Td (owth) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 295.15 484.90 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 346.00 484.90 Td (\(1.75\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 391.00 484.90 Td (\(0.05\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.65 484.90 Td (0.14%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 481.00 484.90 Td (\(0.06\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.65 484.90 Td (1.72%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 471.90 Td (ClearBridge Dividend Strategy) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 235.90 471.90 Td (1) Tj ET Q
q 0 0 0 rg BT 239.75 471.90 Td (1/6/1992) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 294.05 471.90 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 348.65 471.90 Td (9.99%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.65 471.90 Td (8.46%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.65 471.90 Td (10.00%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.65 471.90 Td (7.89%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.65 471.90 Td (8.67%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 458.90 Td (S&P) Tj ET Q
q 0 0 0 rg BT 66.54 458.90 Td ( 500) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 295.15 458.90 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 346.00 458.90 Td (\(4.00\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 391.00 458.90 Td (\(2.32\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.00 458.90 Td (\(3.31\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 481.00 458.90 Td (\(1.60\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.00 458.90 Td (\(0.91\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 445.90 Td (ClearBridge ) Tj ET Q
q 0 0 0 rg BT 92.38 445.90 Td (Appreciation Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 235.75 445.90 Td (3/10/1970) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 294.05 445.90 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 346.65 445.90 Td (1) Tj ET Q
q 0 0 0 rg BT 350.65 445.90 Td (1.20%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.65 445.90 Td (8.74%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.65 445.90 Td (10.98%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.65 445.90 Td (8.35%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.65 445.90 Td (10.34%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 432.90 Td (S&P) Tj ET Q
q 0 0 0 rg BT 66.54 432.90 Td ( 500) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 295.15 432.90 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 346.00 432.90 Td (\(2.79\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 391.00 432.90 Td (\(2.04\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.00 432.90 Td (\(2.33\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 481.00 432.90 Td (\(1.14\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.00 432.90 Td (\(0.22\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 419.90 Td (ClearBridge ) Tj ET Q
q 0 0 0 rg BT 92.53 419.90 Td (V) Tj ET Q
q 0 0 0 rg BT 97.79 419.90 Td (alue ) Tj ET Q
q 0 0 0 rg BT 112.60 419.90 Td (T) Tj ET Q
q 0 0 0 rg BT 117.27 419.90 Td (rust) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 235.75 419.90 Td (4/16/1982) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 294.05 419.90 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 348.65 419.90 Td (5.44%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.65 419.90 Td (5.47%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.65 419.90 Td (10.31%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.65 419.90 Td (5.38%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.65 419.90 Td (1) Tj ET Q
q 0 0 0 rg BT 530.65 419.90 Td (1.50%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 406.90 Td (S&P) Tj ET Q
q 0 0 0 rg BT 66.54 406.90 Td ( 500) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 295.15 406.90 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 346.00 406.90 Td (\(8.55\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 391.00 406.90 Td (\(5.31\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.00 406.90 Td (\(3.00\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 481.00 406.90 Td (\(4.1) Tj ET Q
q 0 0 0 rg BT 493.66 406.90 Td (1\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.00 406.90 Td (\(0.38\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 393.90 Td (ClearBridge ) Tj ET Q
q 0 0 0 rg BT 92.38 393.90 Td (All Cap ) Tj ET Q
q 0 0 0 rg BT 119.19 393.90 Td (V) Tj ET Q
q 0 0 0 rg BT 124.46 393.90 Td (alue) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 233.90 393.90 Td (1) Tj ET Q
q 0 0 0 rg BT 237.75 393.90 Td (1/12/1981) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 294.05 393.90 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 348.65 393.90 Td (5.89%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.65 393.90 Td (7.43%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.65 393.90 Td (9.35%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.65 393.90 Td (6.50%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.65 393.90 Td (10.08%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 380.90 Td (Russell 3000 V) Tj ET Q
q 0 0 0 rg BT 99.05 380.90 Td (alue) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 295.15 380.90 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 346.00 380.90 Td (\(0.92\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 391.00 380.90 Td (\(0.44\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.00 380.90 Td (\(1.36\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 481.00 380.90 Td (\(1.34\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.00 380.90 Td (\(1.64\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 367.90 Td (ClearBridge Lar) Tj ET Q
q 0 0 0 rg BT 103.63 367.90 Td (ge Cap ) Tj ET Q
q 0 0 0 rg BT 127.92 367.90 Td (V) Tj ET Q
q 0 0 0 rg BT 133.18 367.90 Td (alue Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 233.75 367.90 Td (12/31/1988) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 294.05 367.90 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 348.65 367.90 Td (6.61%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.65 367.90 Td (7.01%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.65 367.90 Td (10.27%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.65 367.90 Td (8.04%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.65 367.90 Td (9.55%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 354.90 Td (Russell 1000 V) Tj ET Q
q 0 0 0 rg BT 99.05 354.90 Td (alue) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 295.15 354.90 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 346.00 354.90 Td (\(0.34\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 391.00 354.90 Td (\(0.87\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.00 354.90 Td (\(0.51\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.65 354.90 Td (0.26%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.00 354.90 Td (\(0.70\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 341.90 Td (Legg Mason Brandywine Diversified Lar) Tj ET Q
q 0 0 0 rg BT 183.76 341.90 Td (ge Cap) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 60.50 333.90 Td (V) Tj ET Q
q 0 0 0 rg BT 65.39 333.90 Td (alue Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 237.75 333.90 Td (9/7/2010) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 294.05 333.90 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 346.65 333.90 Td (1) Tj ET Q
q 0 0 0 rg BT 350.65 333.90 Td (1.80%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.65 333.90 Td (9.05%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.65 333.90 Td (1) Tj ET Q
q 0 0 0 rg BT 440.65 333.90 Td (1.31%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 489.10 333.90 Td (n/a) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.65 333.90 Td (13.45%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 320.90 Td (Russell 1000 V) Tj ET Q
q 0 0 0 rg BT 99.05 320.90 Td (alue) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 295.15 320.90 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 348.65 320.90 Td (4.85%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.65 320.90 Td (1.17%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.65 320.90 Td (0.53%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 489.10 320.90 Td (n/a) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.65 320.90 Td (0.80%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 56.00 307.88 Td (Small Cap) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 294.90 Td (ClearBridge Small Cap Growth) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 237.75 294.90 Td (7/1/1998) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 294.05 294.90 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 346.65 294.90 Td (25.45%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.65 294.90 Td (9.61%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.65 294.90 Td (1) Tj ET Q
q 0 0 0 rg BT 440.65 294.90 Td (1.79%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 481.65 294.90 Td (1) Tj ET Q
q 0 0 0 rg BT 485.65 294.90 Td (1.07%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.65 294.90 Td (10.65%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 281.90 Td (Russell 2000 Gr) Tj ET Q
q 0 0 0 rg BT 103.35 281.90 Td (owth) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 295.15 281.90 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 348.65 281.90 Td (6.82%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.65 281.90 Td (0.84%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.00 281.90 Td (\(1.1) Tj ET Q
q 0 0 0 rg BT 448.66 281.90 Td (1\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.65 281.90 Td (0.12%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.65 281.90 Td (3.50%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 268.90 Td (Royce Premier Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 233.75 268.90 Td (12/31/1991) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 294.05 268.90 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 346.65 268.90 Td (17.32%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 391.65 268.90 Td (10.57%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.65 268.90 Td (10.49%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.65 268.90 Td (9.19%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.65 268.90 Td (1) Tj ET Q
q 0 0 0 rg BT 530.65 268.90 Td (1.86%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 255.90 Td (Russell 2000) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 295.15 255.90 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 348.65 255.90 Td (5.53%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.65 255.90 Td (2.18%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.00 255.90 Td (\(0.98\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 481.00 255.90 Td (\(0.65\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.65 255.90 Td (2.09%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 242.90 Td (Royce ) Tj ET Q
q 0 0 0 rg BT 73.87 242.90 Td (T) Tj ET Q
q 0 0 0 rg BT 78.40 242.90 Td (otal Return Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 233.75 242.90 Td (12/15/1993) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 294.05 242.90 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 348.65 242.90 Td (8.67%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.65 242.90 Td (8.44%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.65 242.90 Td (9.55%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.65 242.90 Td (8.36%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.65 242.90 Td (10.82%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 229.90 Td (Russell 2000) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 295.15 229.90 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 346.00 229.90 Td (\(3.12\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.65 229.90 Td (0.05%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 436.00 229.90 Td (\(1.92\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 481.00 229.90 Td (\(1.48\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 528.65 229.90 Td (1.75%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 216.90 Td (Royce Pennsylvania Mutual) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 235.75 216.90 Td (6/30/1967) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 294.05 216.90 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 346.65 216.90 Td (15.24%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.65 216.90 Td (9.03%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.65 216.90 Td (9.83%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.65 216.90 Td (8.55%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.65 216.90 Td (1) Tj ET Q
q 0 0 0 rg BT 530.65 216.90 Td (1.73%) Tj ET Q
BT /F4 8.00 Tf ET
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249.00 160.50 47.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
296.00 160.50 47.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
343.00 160.50 43.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 160.50 44.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
430.00 160.50 44.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
474.00 160.50 44.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
518.00 160.50 44.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 121.50 200.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
249.00 121.50 47.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
296.00 121.50 47.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
343.00 121.50 43.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
386.00 121.50 44.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
430.00 121.50 44.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
474.00 121.50 44.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
518.00 121.50 44.00 -13.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
343 735.5 m
386 735.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 735.5 m
430 735.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
430 735.5 m
474 735.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
474 735.5 m
518 735.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
518 735.5 m
562 735.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 714.5 m
249 714.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
249 714.5 m
296 714.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
296 714.5 m
343 714.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
343 735.5 m
386 735.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
343 714.5 m
386 714.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 735.5 m
430 735.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
386 714.5 m
430 714.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
430 735.5 m
474 735.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
430 714.5 m
474 714.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
474 735.5 m
518 735.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
474 714.5 m
518 714.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
518 735.5 m
562 735.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
518 714.5 m
562 714.5 l
s
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 350.90 739.75 Td (Annualized ) Tj ET Q
q 0 0 0 rg BT 389.55 739.75 Td (Absolute/Relative ) Tj ET Q
q 0 0 0 rg BT 449.03 739.75 Td (T) Tj ET Q
q 0 0 0 rg BT 453.56 739.75 Td (otal Return \(%\) vs. Benchmark) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 718.75 Td (Fund Name/) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 91.27 718.75 Td (Index) Tj ET Q
BT /F4 8.00 Tf ET
BT /F4 5.20 Tf ET
q 0 0 0 rg BT 109.04 722.38 Td (\(1\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 256.85 726.75 Td (Inception) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 264.40 718.75 Td (Date) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 298.55 726.75 Td (Performance ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 308.00 718.75 Td (T) Tj ET Q
q 0 0 0 rg BT 312.33 718.75 Td (ype) Tj ET Q
BT /F1 8.00 Tf ET
BT /F1 5.20 Tf ET
q 0 0 0 rg BT 323.88 722.38 Td (\(2\)) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.75 718.75 Td (1-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.25 718.75 Td (3-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.25 718.75 Td (5-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 483.25 718.75 Td (10-year) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 524.35 718.75 Td (Inception) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 51.50 705.73 Td (Fixed Income) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 56.00 692.73 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 72.15 692.73 Td (T) Tj ET Q
q 0 0 0 rg BT 77.05 692.73 Td (axable) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 679.75 Td (W) Tj ET Q
q 0 0 0 rg BT 58.73 679.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 79.29 679.75 Td (Asset Core Plus Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 257.75 679.75 Td (7/8/1998) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 679.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 679.75 Td (3.82%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 679.75 Td (3.19%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 679.75 Td (3.54%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 679.75 Td (6.05%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 679.75 Td (6.06%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 666.75 Td (Bar) Tj ET Q
q 0 0 0 rg BT 63.35 666.75 Td (clays US ) Tj ET Q
q 0 0 0 rg BT 93.35 666.75 Td (Aggr) Tj ET Q
q 0 0 0 rg BT 109.13 666.75 Td (egate) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 666.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 666.75 Td (2.62%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 666.75 Td (1.99%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 666.75 Td (1.72%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 666.75 Td (2.42%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 666.75 Td (1.28%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 653.75 Td (W) Tj ET Q
q 0 0 0 rg BT 58.73 653.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 79.29 653.75 Td (Asset Core Bond Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 257.75 653.75 Td (9/4/1990) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 653.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 653.75 Td (2.23%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 653.75 Td (2.26%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 653.75 Td (2.87%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 653.75 Td (5.29%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 653.75 Td (6.69%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 640.75 Td (Bar) Tj ET Q
q 0 0 0 rg BT 63.35 640.75 Td (clays US ) Tj ET Q
q 0 0 0 rg BT 93.35 640.75 Td (Aggr) Tj ET Q
q 0 0 0 rg BT 109.13 640.75 Td (egate) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 640.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 640.75 Td (1.03%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 640.75 Td (1.06%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 640.75 Td (1.05%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 640.75 Td (1.66%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 640.75 Td (0.74%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 627.75 Td (W) Tj ET Q
q 0 0 0 rg BT 58.73 627.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 79.29 627.75 Td (Asset ) Tj ET Q
q 0 0 0 rg BT 98.78 627.75 Td (T) Tj ET Q
q 0 0 0 rg BT 103.31 627.75 Td (otal Return Unconstrained) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 257.75 627.75 Td (7/6/2006) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 627.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 627.75 Td (5.03%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 627.75 Td (3.89%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 627.75 Td (3.03%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 627.75 Td (4.73%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 627.75 Td (4.71%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 614.75 Td (Bar) Tj ET Q
q 0 0 0 rg BT 63.35 614.75 Td (clays US ) Tj ET Q
q 0 0 0 rg BT 93.35 614.75 Td (Aggr) Tj ET Q
q 0 0 0 rg BT 109.13 614.75 Td (egate) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 614.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 614.75 Td (3.83%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 614.75 Td (2.69%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 614.75 Td (1.21%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 614.75 Td (1.10%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 614.75 Td (0.50%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 601.75 Td (W) Tj ET Q
q 0 0 0 rg BT 58.73 601.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 79.29 601.75 Td (Asset Intermediate Bond Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 257.75 601.75 Td (7/1/1994) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 601.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 601.75 Td (1.71%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 601.75 Td (1.94%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 601.75 Td (2.06%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 601.75 Td (4.30%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 601.75 Td (5.55%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 588.75 Td (Bar) Tj ET Q
q 0 0 0 rg BT 63.35 588.75 Td (clays Intermediate Government/Cr) Tj ET Q
q 0 0 0 rg BT 174.58 588.75 Td (edit) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 588.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 588.75 Td (1.36%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 588.75 Td (1.00%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 588.75 Td (0.81%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 588.75 Td (1.38%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 588.75 Td (0.67%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 575.75 Td (W) Tj ET Q
q 0 0 0 rg BT 58.73 575.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 79.29 575.75 Td (Asset Short ) Tj ET Q
q 0 0 0 rg BT 118.11 575.75 Td (T) Tj ET Q
q 0 0 0 rg BT 122.65 575.75 Td (erm Bond Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 254.05 575.75 Td (1) Tj ET Q
q 0 0 0 rg BT 257.90 575.75 Td (1/1) Tj ET Q
q 0 0 0 rg BT 267.83 575.75 Td (1/1991) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 575.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 575.75 Td (1.27%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 575.75 Td (1.18%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 575.75 Td (1.01%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 575.75 Td (2.02%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 575.75 Td (3.45%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 562.75 Td (Citi T) Tj ET Q
q 0 0 0 rg BT 69.73 562.75 Td (r) Tj ET Q
q 0 0 0 rg BT 72.48 562.75 Td (easury Government/Cr) Tj ET Q
q 0 0 0 rg BT 145.72 562.75 Td (edit 1-3 YR) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 562.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 562.75 Td (1.01%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 562.75 Td (0.52%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 562.75 Td (0.27%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 562.75 Td (0.47%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.50 562.75 Td (\(0.54\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 549.75 Td (W) Tj ET Q
q 0 0 0 rg BT 58.73 549.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 79.29 549.75 Td (Asset Corporate Bond Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 255.90 549.75 Td (1) Tj ET Q
q 0 0 0 rg BT 259.75 549.75 Td (1/6/1992) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 549.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 549.75 Td (2.94%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 549.75 Td (3.04%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 549.75 Td (4.00%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 549.75 Td (5.67%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 549.75 Td (6.34%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 536.75 Td (Bar) Tj ET Q
q 0 0 0 rg BT 63.35 536.75 Td (clays US Cr) Tj ET Q
q 0 0 0 rg BT 101.72 536.75 Td (edit) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 536.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 536.75 Td (0.35%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 536.75 Td (0.88%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 536.75 Td (1.17%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 536.75 Td (0.52%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 536.75 Td (0.17%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 523.75 Td (W) Tj ET Q
q 0 0 0 rg BT 58.73 523.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 79.29 523.75 Td (Asset Inflation Index Plus Bond) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 257.75 523.75 Td (3/1/2001) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 523.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 523.75 Td (1.36%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 523.75 Td (0.42%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.50 523.75 Td (\(0.60\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 523.75 Td (2.48%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 523.75 Td (4.65%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 510.75 Td (Bar) Tj ET Q
q 0 0 0 rg BT 63.35 510.75 Td (clays US TIPS) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 510.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 510.75 Td (0.44%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.50 510.75 Td (\(0.88\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.50 510.75 Td (\(0.65\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 482.50 510.75 Td (\(0.45\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.50 510.75 Td (\(0.32\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 497.75 Td (W) Tj ET Q
q 0 0 0 rg BT 58.73 497.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 79.29 497.75 Td (Asset Mortgage Defined Opportunity Fund Inc.) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 255.75 497.75 Td (2/24/2010) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 497.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 351.65 497.75 Td (17.86%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 497.75 Td (9.91%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 439.15 497.75 Td (1) Tj ET Q
q 0 0 0 rg BT 443.15 497.75 Td (1.49%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 490.60 497.75 Td (n/a) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 527.15 497.75 Td (14.72%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 484.75 Td (BOF) Tj ET Q
q 0 0 0 rg BT 66.54 484.75 Td (AML) Tj ET Q
q 0 0 0 rg BT 81.95 484.75 Td ( Floating Rate Home Loan Index) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 484.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 484.75 Td (8.26%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 484.75 Td (5.48%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 484.75 Td (7.68%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 490.60 484.75 Td (n/a) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 484.75 Td (9.16%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 471.75 Td (W) Tj ET Q
q 0 0 0 rg BT 58.73 471.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 79.29 471.75 Td (Asset High ) Tj ET Q
q 0 0 0 rg BT 116.70 471.75 Td (Y) Tj ET Q
q 0 0 0 rg BT 122.11 471.75 Td (ield Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 255.75 471.75 Td (9/28/2001) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 471.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 471.75 Td (3.30%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 471.75 Td (3.71%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 471.75 Td (3.42%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 471.75 Td (6.93%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 471.75 Td (7.01%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 458.75 Td (Bar) Tj ET Q
q 0 0 0 rg BT 63.35 458.75 Td (clays US Corp High Y) Tj ET Q
q 0 0 0 rg BT 134.02 458.75 Td (ield) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 458.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 351.00 458.75 Td (\(0.48\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.50 458.75 Td (\(1.46\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.50 458.75 Td (\(1.57\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 482.50 458.75 Td (\(1.34\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.50 458.75 Td (\(1.34\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 445.75 Td (W) Tj ET Q
q 0 0 0 rg BT 58.73 445.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 79.29 445.75 Td (Asset ) Tj ET Q
q 0 0 0 rg BT 98.63 445.75 Td (Adjustable Rate Income) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 255.75 445.75 Td (6/22/1992) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 445.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 445.75 Td (3.22%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 445.75 Td (2.13%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 445.75 Td (1.61%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 445.75 Td (1.95%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 445.75 Td (2.75%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 432.75 Td (Citi T) Tj ET Q
q 0 0 0 rg BT 69.66 432.75 Td (-Bill 6-Month) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 432.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 432.75 Td (2.14%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 432.75 Td (1.56%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 432.75 Td (1.24%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 432.75 Td (1.52%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 432.75 Td (0.08%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 56.00 419.73 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 72.15 419.73 Td (T) Tj ET Q
q 0 0 0 rg BT 77.05 419.73 Td (ax-Exempt) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 406.75 Td (W) Tj ET Q
q 0 0 0 rg BT 58.73 406.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 79.29 406.75 Td (Asset Managed Municipals Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 257.75 406.75 Td (3/4/1981) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 406.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 406.75 Td (2.94%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 406.75 Td (1.97%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 406.75 Td (2.54%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 406.75 Td (4.71%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 406.75 Td (7.48%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 393.75 Td (Bar) Tj ET Q
q 0 0 0 rg BT 63.35 393.75 Td (clays Municipal Bond) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 393.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 393.75 Td (0.28%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.50 393.75 Td (\(0.28\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.50 393.75 Td (\(0.19\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 393.75 Td (0.31%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 393.75 Td (0.45%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 56.00 380.73 Td (Global ) Tj ET Q
q 0 0 0 rg BT 80.97 380.73 Td (T) Tj ET Q
q 0 0 0 rg BT 85.57 380.73 Td (axable) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 367.75 Td (Legg Mason ) Tj ET Q
q 0 0 0 rg BT 93.64 367.75 Td (W) Tj ET Q
q 0 0 0 rg BT 100.80 367.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 121.36 367.75 Td (Asset Macro Opportunities Bond) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 253.90 367.75 Td (1) Tj ET Q
q 0 0 0 rg BT 257.75 367.75 Td (1/30/2013) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 367.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 367.75 Td (8.08%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 367.75 Td (5.62%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 446.60 367.75 Td (n/a) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 490.60 367.75 Td (n/a) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 367.75 Td (6.41%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 354.75 Td (3-Month LIBOR) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 354.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 354.75 Td (6.62%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 354.75 Td (4.71%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 446.60 354.75 Td (n/a) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 490.60 354.75 Td (n/a) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 354.75 Td (5.71%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 341.75 Td (Legg Mason Brandywine Global Opportunities Bond) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 255.90 341.75 Td (1) Tj ET Q
q 0 0 0 rg BT 259.75 341.75 Td (1/1/2006) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 341.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 351.65 341.75 Td (1) Tj ET Q
q 0 0 0 rg BT 355.65 341.75 Td (1.24%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 341.75 Td (4.27%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 341.75 Td (2.95%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 341.75 Td (5.59%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 341.75 Td (5.93%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 328.75 Td (Citi W) Tj ET Q
q 0 0 0 rg BT 71.80 328.75 Td (orld Government Bond) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 328.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 328.75 Td (2.76%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 328.75 Td (0.82%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 328.75 Td (1.76%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 328.75 Td (3.62%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 328.75 Td (2.59%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 315.75 Td (Legg Mason Brandywine ) Tj ET Q
q 0 0 0 rg BT 134.38 315.75 Td (Absolute Return Opportunities) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 60.50 307.75 Td (Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 255.90 307.75 Td (2/28/201) Tj ET Q
q 0 0 0 rg BT 284.20 307.75 Td (1) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 307.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 307.75 Td (6.48%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 307.75 Td (2.44%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 307.75 Td (2.27%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 490.60 307.75 Td (n/a) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 307.75 Td (3.73%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 294.75 Td (Citi 3-Month T) Tj ET Q
q 0 0 0 rg BT 99.21 294.75 Td (-Bill) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 294.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 294.75 Td (5.42%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 294.75 Td (1.95%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 294.75 Td (1.96%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 490.60 294.75 Td (n/a) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 294.75 Td (3.49%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 281.75 Td (Legg Mason Brandywine Global Fixed Income) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 253.75 281.75 Td (10/31/2003) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 281.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 281.75 Td (9.10%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 281.75 Td (2.60%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 281.75 Td (1.28%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 281.75 Td (3.67%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 281.75 Td (4.41%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 268.75 Td (Citi W) Tj ET Q
q 0 0 0 rg BT 71.80 268.75 Td (orld Government Bond) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 268.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 268.75 Td (0.62%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.50 268.75 Td (\(0.85\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 268.75 Td (0.09%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 268.75 Td (1.70%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 268.75 Td (0.64%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 255.75 Td (Legg Mason ) Tj ET Q
q 0 0 0 rg BT 93.64 255.75 Td (W) Tj ET Q
q 0 0 0 rg BT 100.80 255.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 121.36 255.75 Td (Asset Global Multi Strategy Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 255.75 255.75 Td (8/31/2002) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 255.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 255.75 Td (3.29%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 255.75 Td (3.13%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 255.75 Td (2.21%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 255.75 Td (4.17%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 255.75 Td (6.14%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 242.75 Td (50% Bar) Tj ET Q
q 0 0 0 rg BT 79.28 242.75 Td (. Global ) Tj ET Q
q 0 0 0 rg BT 107.36 242.75 Td (Agg./ 25% Bar) Tj ET Q
q 0 0 0 rg BT 154.24 242.75 Td (. HY 2%/25% JPM EMBI +) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 242.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 349.00 242.75 Td (\(1) Tj ET Q
q 0 0 0 rg BT 355.66 242.75 Td (1.95\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.50 242.75 Td (\(5.89\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.50 242.75 Td (\(7.62\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 242.75 Td (4.17%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 242.75 Td (6.14%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 229.75 Td (Legg Mason ) Tj ET Q
q 0 0 0 rg BT 93.64 229.75 Td (W) Tj ET Q
q 0 0 0 rg BT 100.80 229.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 121.36 229.75 Td (Asset ) Tj ET Q
q 0 0 0 rg BT 140.70 229.75 Td (Australian Bond ) Tj ET Q
q 0 0 0 rg BT 195.06 229.75 Td (T) Tj ET Q
q 0 0 0 rg BT 199.74 229.75 Td (rust) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 255.75 229.75 Td (6/30/1983) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 229.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 229.75 Td (3.67%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 229.75 Td (2.75%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 229.75 Td (4.66%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 229.75 Td (6.79%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 229.75 Td (6.07%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 216.75 Td (UBS ) Tj ET Q
q 0 0 0 rg BT 68.09 216.75 Td (Australian Composite Bond Index) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 216.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 216.75 Td (0.39%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 216.75 Td (0.30%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 216.75 Td (0.36%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 216.75 Td (0.74%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 216.75 Td (0.37%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 203.75 Td (W) Tj ET Q
q 0 0 0 rg BT 58.73 203.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 79.29 203.75 Td (Asset Global High ) Tj ET Q
q 0 0 0 rg BT 140.47 203.75 Td (Y) Tj ET Q
q 0 0 0 rg BT 145.88 203.75 Td (ield Bond Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 255.75 203.75 Td (2/22/1995) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 203.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 203.75 Td (3.35%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 203.75 Td (4.34%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 203.75 Td (3.03%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 203.75 Td (6.30%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 203.75 Td (6.97%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 190.75 Td (Bar) Tj ET Q
q 0 0 0 rg BT 63.35 190.75 Td (clays Global High Y) Tj ET Q
q 0 0 0 rg BT 128.02 190.75 Td (ield) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 190.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 351.00 190.75 Td (\(3.30\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.50 190.75 Td (\(2.38\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.50 190.75 Td (\(2.28\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 482.50 190.75 Td (\(1.97\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 526.50 190.75 Td (\(1.98\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 177.75 Td (Legg Mason ) Tj ET Q
q 0 0 0 rg BT 93.64 177.75 Td (W) Tj ET Q
q 0 0 0 rg BT 100.80 177.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 121.36 177.75 Td (Asset Global Core Plus Bond Fund) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 253.75 177.75 Td (12/31/2010) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 177.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 177.75 Td (2.90%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 177.75 Td (1.08%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 177.75 Td (2.87%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 490.60 177.75 Td (n/a) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 177.75 Td (4.00%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 164.75 Td (Bar) Tj ET Q
q 0 0 0 rg BT 63.35 164.75 Td (clays Global ) Tj ET Q
q 0 0 0 rg BT 105.79 164.75 Td (Aggr) Tj ET Q
q 0 0 0 rg BT 121.57 164.75 Td (egate Index) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 164.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 164.75 Td (0.44%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.50 164.75 Td (\(0.92\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.50 164.75 Td (\(0.05\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 490.60 164.75 Td (n/a) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 164.75 Td (0.39%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 51.50 151.75 Td (W) Tj ET Q
q 0 0 0 rg BT 58.73 151.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 79.29 151.75 Td (Asset Emer) Tj ET Q
q 0 0 0 rg BT 116.10 151.75 Td (ging Markets Debt) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 253.75 151.75 Td (10/17/1996) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 304.55 151.75 Td (Absolute) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 151.75 Td (3.43%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 397.15 151.75 Td (4.89%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 441.15 151.75 Td (2.02%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 485.15 151.75 Td (5.71%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 151.75 Td (9.1) Tj ET Q
q 0 0 0 rg BT 539.15 151.75 Td (1%) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 51.50 138.75 Td (JPM EMBI Global) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 305.65 138.75 Td (Relative) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 353.65 138.75 Td (0.09%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.50 138.75 Td (\(0.59\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.50 138.75 Td (\(1.84\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 482.50 138.75 Td (\(1.09\)%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 529.15 138.75 Td (0.36%) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 51.50 125.73 Td (Liquidity) Tj ET Q
BT /F1 8.00 Tf ET
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q 0 0 0 rg BT 285.60 578.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 296.28 578.10 Td (certain ) Tj ET Q
q 0 0 0 rg BT 326.78 578.10 Td (assets ) Tj ET Q
q 0 0 0 rg BT 353.22 578.10 Td (totaling ) Tj ET Q
q 0 0 0 rg BT 387.23 578.10 Td ($16.0 ) Tj ET Q
q 0 0 0 rg BT 412.79 578.10 Td (billion, ) Tj ET Q
q 0 0 0 rg BT 444.77 578.10 Td (due ) Tj ET Q
q 0 0 0 rg BT 461.87 578.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 471.97 578.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 478.57 578.10 Td (change ) Tj ET Q
q 0 0 0 rg BT 510.24 578.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 520.34 578.10 Td (our ) Tj ET Q
q 0 0 0 rg BT 536.27 578.10 Td (policy ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.50 Td (on ) Tj ET Q
q 0 0 0 rg BT 62.44 565.50 Td (classification ) Tj ET Q
q 0 0 0 rg BT 120.28 565.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 130.92 565.50 Td (AUA) Tj ET Q
q 0 0 0 rg BT 153.09 565.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 155.53 565.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 172.59 565.50 Td (AUM, ) Tj ET Q
q 0 0 0 rg BT 202.16 565.50 Td (specifically ) Tj ET Q
q 0 0 0 rg BT 253.00 565.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 267.68 565.50 Td (retail ) Tj ET Q
q 0 0 0 rg BT 291.69 565.50 Td (separately ) Tj ET Q
q 0 0 0 rg BT 336.69 565.50 Td (managed ) Tj ET Q
q 0 0 0 rg BT 377.02 565.50 Td (account ) Tj ET Q
q 0 0 0 rg BT 412.11 565.50 Td (programs ) Tj ET Q
q 0 0 0 rg BT 454.21 565.50 Td (that ) Tj ET Q
q 0 0 0 rg BT 472.39 565.50 Td (operate ) Tj ET Q
q 0 0 0 rg BT 505.73 565.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 523.33 565.50 Td (have ) Tj ET Q
q 0 0 0 rg BT 545.59 565.50 Td (fees ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.90 Td (comparable ) Tj ET Q
q 0 0 0 rg BT 100.55 552.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 110.78 552.90 Td (programs ) Tj ET Q
q 0 0 0 rg BT 152.51 552.90 Td (managed ) Tj ET Q
q 0 0 0 rg BT 192.48 552.90 Td (on ) Tj ET Q
q 0 0 0 rg BT 205.06 552.90 Td (a ) Tj ET Q
q 0 0 0 rg BT 211.79 552.90 Td (fully ) Tj ET Q
q 0 0 0 rg BT 233.69 552.90 Td (discretionary ) Tj ET Q
q 0 0 0 rg BT 290.58 552.90 Td (basis. ) Tj ET Q
q 0 0 0 rg BT 316.27 552.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 318.34 552.90 Td (Comparable ) Tj ET Q
q 0 0 0 rg BT 371.27 552.90 Td (AUA) Tj ET Q
q 0 0 0 rg BT 393.44 552.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 395.52 552.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 409.83 552.90 Td (these ) Tj ET Q
q 0 0 0 rg BT 433.48 552.90 Td (programs ) Tj ET Q
q 0 0 0 rg BT 475.21 552.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 486.02 552.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 496.84 552.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 526.32 552.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 541.51 552.90 Td (2017 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.29 540.30 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 93.54 540.30 Td (was ) Tj ET Q
q 0 0 0 rg BT 112.49 540.30 Td ($16.0 ) Tj ET Q
q 0 0 0 rg BT 138.74 540.30 Td (billion ) Tj ET Q
q 0 0 0 rg BT 168.79 540.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 186.57 540.30 Td ($10.5 ) Tj ET Q
q 0 0 0 rg BT 212.82 540.30 Td (billion, ) Tj ET Q
q 0 0 0 rg BT 245.49 540.30 Td (respectively) Tj ET Q
q 0 0 0 rg BT 295.54 540.30 Td (. ) Tj ET Q
q 0 0 0 rg BT 300.79 540.30 Td ( ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 515.10 Td (RESUL) Tj ET Q
q 0 0 0 rg BT 83.55 515.10 Td (TS OF) Tj ET Q
q 0 0 0 rg BT 113.21 515.10 Td ( OPERA) Tj ET Q
q 0 0 0 rg BT 151.81 515.10 Td (TIONS) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.90 Td (In ) Tj ET Q
q 0 0 0 rg BT 60.25 489.90 Td (accordance ) Tj ET Q
q 0 0 0 rg BT 109.47 489.90 Td (with ) Tj ET Q
q 0 0 0 rg BT 130.15 489.90 Td (financial ) Tj ET Q
q 0 0 0 rg BT 168.89 489.90 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 216.96 489.90 Td (standards ) Tj ET Q
q 0 0 0 rg BT 258.63 489.90 Td (on ) Tj ET Q
q 0 0 0 rg BT 271.14 489.90 Td (consolidation, ) Tj ET Q
q 0 0 0 rg BT 332.35 489.90 Td (we ) Tj ET Q
q 0 0 0 rg BT 346.60 489.90 Td (consolidate ) Tj ET Q
q 0 0 0 rg BT 396.43 489.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 413.60 489.90 Td (separately ) Tj ET Q
q 0 0 0 rg BT 458.17 489.90 Td (identify ) Tj ET Q
q 0 0 0 rg BT 492.84 489.90 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 530.43 489.90 Td (relating ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.81 477.30 Td (certain ) Tj ET Q
q 0 0 0 rg BT 92.51 477.30 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 138.23 477.30 Td (investment ) Tj ET Q
q 0 0 0 rg BT 187.45 477.30 Td (products. ) Tj ET Q
q 0 0 0 rg BT 229.38 477.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 232.29 477.30 Td (The ) Tj ET Q
q 0 0 0 rg BT 251.75 477.30 Td (consolidation ) Tj ET Q
q 0 0 0 rg BT 311.47 477.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 323.36 477.30 Td (these ) Tj ET Q
q 0 0 0 rg BT 348.07 477.30 Td (investment ) Tj ET Q
q 0 0 0 rg BT 397.29 477.30 Td (products ) Tj ET Q
q 0 0 0 rg BT 436.59 477.30 Td (has ) Tj ET Q
q 0 0 0 rg BT 453.73 477.30 Td (no ) Tj ET Q
q 0 0 0 rg BT 467.37 477.30 Td (impact ) Tj ET Q
q 0 0 0 rg BT 499.08 477.30 Td (on ) Tj ET Q
q 0 0 0 rg BT 512.72 477.30 Td (Net ) Tj ET Q
q 0 0 0 rg BT 531.03 477.30 Td (Income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.70 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 78.11 464.70 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 131.13 464.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 141.57 464.70 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 165.43 464.70 Td (Mason,�Inc. ) Tj ET Q
q 0 0 0 rg BT 217.57 464.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 235.02 464.70 Td (does ) Tj ET Q
q 0 0 0 rg BT 256.54 464.70 Td (not ) Tj ET Q
q 0 0 0 rg BT 272.24 464.70 Td (have ) Tj ET Q
q 0 0 0 rg BT 294.34 464.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 301.28 464.70 Td (material ) Tj ET Q
q 0 0 0 rg BT 337.96 464.70 Td (impact ) Tj ET Q
q 0 0 0 rg BT 368.82 464.70 Td (on ) Tj ET Q
q 0 0 0 rg BT 381.60 464.70 Td (our ) Tj ET Q
q 0 0 0 rg BT 397.87 464.70 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 453.22 464.70 Td (operating ) Tj ET Q
q 0 0 0 rg BT 495.16 464.70 Td (results. ) Tj ET Q
q 0 0 0 rg BT 527.48 464.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 529.59 464.70 Td (W) Tj ET Q
q 0 0 0 rg BT 538.66 464.70 Td (e ) Tj ET Q
q 0 0 0 rg BT 545.60 464.70 Td (also ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 452.10 Td (hold ) Tj ET Q
q 0 0 0 rg BT 70.47 452.10 Td (investments ) Tj ET Q
q 0 0 0 rg BT 122.94 452.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 133.41 452.10 Td (other ) Tj ET Q
q 0 0 0 rg BT 157.28 452.10 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 212.66 452.10 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 257.54 452.10 Td (investment ) Tj ET Q
q 0 0 0 rg BT 305.92 452.10 Td (funds ) Tj ET Q
q 0 0 0 rg BT 331.55 452.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 349.02 452.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 364.15 452.10 Td (change ) Tj ET Q
q 0 0 0 rg BT 396.18 452.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 406.65 452.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 421.78 452.10 Td (value ) Tj ET Q
q 0 0 0 rg BT 446.82 452.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 457.87 452.10 Td (these ) Tj ET Q
q 0 0 0 rg BT 481.75 452.10 Td (investments, ) Tj ET Q
q 0 0 0 rg BT 536.84 452.10 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.50 Td (is ) Tj ET Q
q 0 0 0 rg BT 59.73 439.50 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 99.67 439.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 111.06 439.50 Td (Non-operating ) Tj ET Q
q 0 0 0 rg BT 175.52 439.50 Td (income ) Tj ET Q
q 0 0 0 rg BT 209.65 439.50 Td (\(expense\), ) Tj ET Q
q 0 0 0 rg BT 256.30 439.50 Td (is ) Tj ET Q
q 0 0 0 rg BT 266.53 439.50 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 306.47 439.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 317.86 439.50 Td (Net ) Tj ET Q
q 0 0 0 rg BT 336.25 439.50 Td (Income ) Tj ET Q
q 0 0 0 rg BT 370.95 439.50 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 400.30 439.50 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 454.26 439.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 465.65 439.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 490.44 439.50 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 524.87 439.50 Td (Inc. ) Tj ET Q
q 0 0 0 rg BT 544.13 439.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 547.35 439.50 Td (See ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.90 Td (Notes�1, ) Tj ET Q
q 0 0 0 rg BT 87.02 426.90 Td (3, ) Tj ET Q
q 0 0 0 rg BT 97.41 426.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 115.09 426.90 Td (17 ) Tj ET Q
q 0 0 0 rg BT 128.11 426.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 139.37 426.90 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 166.39 426.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 177.07 426.90 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 235.01 426.90 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 276.60 426.90 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 325.20 426.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 339.96 426.90 Td (additional ) Tj ET Q
q 0 0 0 rg BT 384.47 426.90 Td (information ) Tj ET Q
q 0 0 0 rg BT 436.56 426.90 Td (regarding ) Tj ET Q
q 0 0 0 rg BT 479.31 426.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 494.66 426.90 Td (consolidation ) Tj ET Q
q 0 0 0 rg BT 553.75 426.90 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.30 Td (investment ) Tj ET Q
q 0 0 0 rg BT 98.20 414.30 Td (products.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 389.10 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 98.21 389.10 Td (Revenues) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.50 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.12 376.50 Td (components ) Tj ET Q
q 0 0 0 rg BT 121.15 376.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 132.02 376.50 Td (T) Tj ET Q
q 0 0 0 rg BT 137.70 376.50 Td (otal ) Tj ET Q
q 0 0 0 rg BT 155.74 376.50 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 200.01 376.50 Td (Revenues ) Tj ET Q
q 0 0 0 rg BT 243.13 376.50 Td (\(in ) Tj ET Q
q 0 0 0 rg BT 257.08 376.50 Td (millions\), ) Tj ET Q
q 0 0 0 rg BT 299.92 376.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 317.37 376.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 332.49 376.50 Td (dollar ) Tj ET Q
q 0 0 0 rg BT 359.27 376.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 376.72 376.50 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 424.48 376.50 Td (changes ) Tj ET Q
q 0 0 0 rg BT 460.59 376.50 Td (between ) Tj ET Q
q 0 0 0 rg BT 497.86 376.50 Td (periods ) Tj ET Q
q 0 0 0 rg BT 531.06 376.50 Td (were ) Tj ET Q
q 0 0 0 rg BT 553.75 376.50 Td (as ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.90 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 312.40 131.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
181.00 312.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
185.00 312.40 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
236.00 312.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
240.00 312.40 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
287.00 312.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.00 312.40 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
338.00 312.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
342.00 312.40 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
394.00 312.40 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
454.00 312.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
458.00 312.40 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
510.00 312.40 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 282.40 131.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
181.00 282.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
185.00 282.40 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
236.00 282.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
240.00 282.40 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
287.00 282.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.00 282.40 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
338.00 282.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
342.00 282.40 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
394.00 282.40 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
454.00 282.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
458.00 282.40 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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510.00 282.40 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 252.40 131.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
181.00 252.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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185.00 252.40 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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236.00 252.40 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
240.00 252.40 47.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
287.00 252.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.00 252.40 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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338.00 252.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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342.00 252.40 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
394.00 252.40 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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454.00 252.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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458.00 252.40 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
510.00 252.40 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 222.40 131.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
181.00 222.40 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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185.00 222.40 51.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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236.00 222.40 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
240.00 222.40 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
287.00 222.40 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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291.00 222.40 47.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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338.00 222.40 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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342.00 222.40 52.00 -15.00 re f
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394.00 222.40 60.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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454.00 222.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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458.00 222.40 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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510.00 222.40 52.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
185 327.4 m
236 327.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
236 327.4 m
240 327.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
240 327.4 m
287 327.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
287 327.4 m
291 327.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
291 327.4 m
338 327.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
342 327.4 m
394 327.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
394 327.4 m
454 327.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
458 327.4 m
510 327.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
510 327.4 m
562 327.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 312.4 m
181 312.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
185 312.4 m
236 312.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
240 312.4 m
287 312.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
291 312.4 m
338 312.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
342 312.4 m
394 312.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
394 312.4 m
454 312.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
458 312.4 m
510 312.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
510 312.4 m
562 312.4 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 222.39999999999998 m
181 222.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
185 222.39999999999998 m
236 222.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
240 222.39999999999998 m
287 222.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
291 222.39999999999998 m
338 222.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
342 222.39999999999998 m
394 222.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
458 222.39999999999998 m
510 222.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 207.39999999999998 m
181 207.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
185 207.39999999999998 m
236 207.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
240 222.39999999999998 m
287 222.39999999999998 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
240 207.39999999999998 m
287 207.39999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
291 222.39999999999998 m
338 222.39999999999998 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
291 207.39999999999998 m
338 207.39999999999998 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
342 222.39999999999998 m
394 222.39999999999998 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
342 207.39999999999998 m
394 207.39999999999998 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
458 222.39999999999998 m
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458 207.39999999999998 m
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 211.65 332.17 Td (Y) Tj ET Q
q 0 0 0 rg BT 218.71 332.17 Td (ears Ended March 31,) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 356.15 342.69 Td (2018 Compar) Tj ET Q
q 0 0 0 rg BT 417.01 342.69 Td (ed to) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 387.00 332.19 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.40 342.67 Td (2017 Compared to) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 499.00 332.17 Td (2016) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 199.50 317.19 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 252.50 317.17 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 303.50 317.17 Td (2016) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 346.35 317.19 Td ($ Change) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 399.70 317.19 Td (% Change) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 463.50 317.17 Td ($ Change) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 513.75 317.17 Td (% Change) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 302.17 Td (Investment advisory fees:) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 61.50 287.17 Td (Separate accounts) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 187.50 287.19 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 200.50 287.19 Td (1,020.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 242.50 287.17 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 259.35 287.17 Td (925.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 293.50 287.17 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 310.35 287.17 Td (826.1) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 344.50 287.19 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 371.60 287.19 Td (95.6) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 432.50 287.19 Td (10) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 443.00 287.19 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 460.50 287.17 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 487.60 287.17 Td (99.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.25 287.17 Td (12) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 552.75 287.17 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 61.50 272.17 Td (Funds) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 200.50 272.19 Td (1,564.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 251.50 272.17 Td (1,482.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 302.50 272.17 Td (1,409.0) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 371.60 272.19 Td (82.8) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 437.75 272.19 Td (6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 487.60 272.17 Td (73.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 547.50 272.17 Td (5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 61.50 257.17 Td (Performance fees) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 208.35 257.19 Td (227.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 259.35 257.17 Td (108.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 315.60 257.17 Td (42.0) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 366.35 257.19 Td (1) Tj ET Q
q 0 0 0 rg BT 371.60 257.19 Td (19.5) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 432.95 257.19 Td (n/m) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 487.60 257.17 Td (66.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.15 257.17 Td (n/m) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 242.17 Td (Distribution and service fees) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 208.35 242.19 Td (321.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 259.35 242.17 Td (366.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 310.35 242.17 Td (381.5) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 368.10 242.19 Td (\(44.8) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 390.00 242.19 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 429.00 242.19 Td (\(12) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 443.00 242.19 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 484.10 242.17 Td (\(14.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 506.00 242.17 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.00 242.17 Td (\(4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 552.75 242.17 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 227.17 Td (Other) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 218.85 227.19 Td (5.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 269.85 227.17 Td (4.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 320.85 227.17 Td (2.2) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 376.85 227.19 Td (0.3) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 437.75 227.19 Td (6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 492.85 227.17 Td (2.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.15 227.17 Td (n/m) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 212.17 Td (T) Tj ET Q
q 0 0 0 rg BT 58.18 212.17 Td (otal Operating Revenues) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 187.50 212.19 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 200.50 212.19 Td (3,140.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 242.50 212.17 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 251.50 212.17 Td (2,886.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 293.50 212.17 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 302.50 212.17 Td (2,660.8) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 344.50 212.19 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 366.35 212.19 Td (253.4) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 437.75 212.19 Td (9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 460.50 212.17 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 482.35 212.17 Td (226.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 547.50 212.17 Td (8) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 198.30 Td (n/m ) Tj ET Q
q 0 0 0 rg BT 63.95 198.30 Td (- ) Tj ET Q
q 0 0 0 rg BT 68.61 198.30 Td (not ) Tj ET Q
q 0 0 0 rg BT 80.83 198.30 Td (meaningful) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 173.10 Td (T) Tj ET Q
q 0 0 0 rg BT 55.18 173.10 Td (otal ) Tj ET Q
q 0 0 0 rg BT 73.51 173.10 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 118.07 173.10 Td (Revenues ) Tj ET Q
q 0 0 0 rg BT 161.47 173.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 176.30 173.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 191.71 173.10 Td (year ) Tj ET Q
q 0 0 0 rg BT 212.35 173.10 Td (ended ) Tj ET Q
q 0 0 0 rg BT 240.00 173.10 Td (March ) Tj ET Q
q 0 0 0 rg BT 269.99 173.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 285.69 173.10 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 311.90 173.10 Td (were ) Tj ET Q
q 0 0 0 rg BT 334.88 173.10 Td ($3.14 ) Tj ET Q
q 0 0 0 rg BT 361.09 173.10 Td (billion, ) Tj ET Q
q 0 0 0 rg BT 393.71 173.10 Td (an ) Tj ET Q
q 0 0 0 rg BT 406.20 173.10 Td (increase ) Tj ET Q
q 0 0 0 rg BT 443.17 173.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 454.50 173.10 Td (9% ) Tj ET Q
q 0 0 0 rg BT 471.08 173.10 Td (from ) Tj ET Q
q 0 0 0 rg BT 494.07 173.10 Td ($2.89 ) Tj ET Q
q 0 0 0 rg BT 520.27 173.10 Td (billion ) Tj ET Q
q 0 0 0 rg BT 550.27 173.10 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 160.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.40 160.50 Td (year ) Tj ET Q
q 0 0 0 rg BT 86.54 160.50 Td (ended ) Tj ET Q
q 0 0 0 rg BT 114.68 160.50 Td (March ) Tj ET Q
q 0 0 0 rg BT 145.16 160.50 Td (31, ) Tj ET Q
q 0 0 0 rg BT 161.35 160.50 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 188.05 160.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 190.90 160.50 Td (The ) Tj ET Q
q 0 0 0 rg BT 210.29 160.50 Td (increase ) Tj ET Q
q 0 0 0 rg BT 247.76 160.50 Td (was ) Tj ET Q
q 0 0 0 rg BT 267.16 160.50 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 309.31 160.50 Td (due ) Tj ET Q
q 0 0 0 rg BT 327.54 160.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 338.78 160.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 346.51 160.50 Td ($1) Tj ET Q
q 0 0 0 rg BT 356.62 160.50 Td (19.5 ) Tj ET Q
q 0 0 0 rg BT 378.06 160.50 Td (million ) Tj ET Q
q 0 0 0 rg BT 411.47 160.50 Td (increase ) Tj ET Q
q 0 0 0 rg BT 448.94 160.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 460.18 160.50 Td (performance ) Tj ET Q
q 0 0 0 rg BT 516.30 160.50 Td (fees, ) Tj ET Q
q 0 0 0 rg BT 538.90 160.50 Td ($48.0 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 147.90 Td (million ) Tj ET Q
q 0 0 0 rg BT 82.24 147.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 93.39 147.90 Td (which ) Tj ET Q
q 0 0 0 rg BT 121.45 147.90 Td (were ) Tj ET Q
q 0 0 0 rg BT 144.25 147.90 Td (earned ) Tj ET Q
q 0 0 0 rg BT 174.63 147.90 Td (by ) Tj ET Q
q 0 0 0 rg BT 187.53 147.90 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 221.43 147.90 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 258.24 147.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 275.80 147.90 Td (were ) Tj ET Q
q 0 0 0 rg BT 298.60 147.90 Td (fully ) Tj ET Q
q 0 0 0 rg BT 320.83 147.90 Td (passed ) Tj ET Q
q 0 0 0 rg BT 351.23 147.90 Td (through ) Tj ET Q
q 0 0 0 rg BT 386.29 147.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 397.44 147.90 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 458.16 147.90 Td (expense, ) Tj ET Q
q 0 0 0 rg BT 497.00 147.90 Td (per ) Tj ET Q
q 0 0 0 rg BT 512.81 147.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 528.04 147.90 Td (terms ) Tj ET Q
q 0 0 0 rg BT 553.77 147.90 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 135.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.83 135.30 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 113.42 135.30 Td (agreement. ) Tj ET Q
q 0 0 0 rg BT 162.27 135.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 164.23 135.30 Td (A) Tj ET Q
q 0 0 0 rg BT 171.23 135.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 173.73 135.30 Td (9% ) Tj ET Q
q 0 0 0 rg BT 190.24 135.30 Td (increase ) Tj ET Q
q 0 0 0 rg BT 227.14 135.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 237.81 135.30 Td (average ) Tj ET Q
q 0 0 0 rg BT 272.95 135.30 Td (long-term ) Tj ET Q
q 0 0 0 rg BT 316.31 135.30 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 343.32 135.30 Td (also ) Tj ET Q
q 0 0 0 rg BT 362.74 135.30 Td (contributed ) Tj ET Q
q 0 0 0 rg BT 413.07 135.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 423.74 135.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 439.08 135.30 Td (increase. ) Tj ET Q
q 0 0 0 rg BT 478.60 135.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 481.11 135.30 Td (Despite ) Tj ET Q
q 0 0 0 rg BT 515.69 135.30 Td (an ) Tj ET Q
q 0 0 0 rg BT 528.10 135.30 Td (increase ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 122.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.16 122.70 Td (average ) Tj ET Q
q 0 0 0 rg BT 95.29 122.70 Td (long-term ) Tj ET Q
q 0 0 0 rg BT 138.64 122.70 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 165.64 122.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 176.88 122.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 184.03 122.70 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 231.99 122.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 243.23 122.70 Td (our ) Tj ET Q
q 0 0 0 rg BT 259.72 122.70 Td (total ) Tj ET Q
q 0 0 0 rg BT 280.88 122.70 Td (average ) Tj ET Q
q 0 0 0 rg BT 315.46 122.70 Td (AUM, ) Tj ET Q
q 0 0 0 rg BT 345.08 122.70 Td (our ) Tj ET Q
q 0 0 0 rg BT 361.57 122.70 Td (operating ) Tj ET Q
q 0 0 0 rg BT 403.72 122.70 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 439.44 122.70 Td (yield, ) Tj ET Q
q 0 0 0 rg BT 465.55 122.70 Td (excluding ) Tj ET Q
q 0 0 0 rg BT 509.45 122.70 Td (performance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 110.10 Td (fees, ) Tj ET Q
q 0 0 0 rg BT 71.93 110.10 Td (remained ) Tj ET Q
q 0 0 0 rg BT 113.89 110.10 Td (flat ) Tj ET Q
q 0 0 0 rg BT 130.78 110.10 Td (at ) Tj ET Q
q 0 0 0 rg BT 141.25 110.10 Td (39 ) Tj ET Q
q 0 0 0 rg BT 154.65 110.10 Td (basis ) Tj ET Q
q 0 0 0 rg BT 178.55 110.10 Td (points ) Tj ET Q
q 0 0 0 rg BT 207.12 110.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 222.26 110.10 Td (each ) Tj ET Q
q 0 0 0 rg BT 244.39 110.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 256.04 110.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 271.76 110.10 Td (years ) Tj ET Q
q 0 0 0 rg BT 296.81 110.10 Td (ended ) Tj ET Q
q 0 0 0 rg BT 324.78 110.10 Td (March ) Tj ET Q
q 0 0 0 rg BT 355.09 110.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 371.11 110.10 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 395.01 110.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 413.07 110.10 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 439.59 110.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 451.23 110.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 458.79 110.10 Td (result ) Tj ET Q
q 0 0 0 rg BT 485.02 110.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 496.66 110.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 504.22 110.10 Td (less ) Tj ET Q
q 0 0 0 rg BT 522.87 110.10 Td (favorable ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 97.50 Td (product ) Tj ET Q
q 0 0 0 rg BT 83.55 97.50 Td (mix, ) Tj ET Q
q 0 0 0 rg BT 104.48 97.50 Td (with ) Tj ET Q
q 0 0 0 rg BT 125.13 97.50 Td (lower ) Tj ET Q
q 0 0 0 rg BT 151.01 97.50 Td (yielding ) Tj ET Q
q 0 0 0 rg BT 187.40 97.50 Td (products ) Tj ET Q
q 0 0 0 rg BT 225.54 97.50 Td (comprising ) Tj ET Q
q 0 0 0 rg BT 274.76 97.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 281.39 97.50 Td (higher ) Tj ET Q
q 0 0 0 rg BT 310.19 97.50 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 357.63 97.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 368.36 97.50 Td (our ) Tj ET Q
q 0 0 0 rg BT 384.33 97.50 Td (long-term ) Tj ET Q
q 0 0 0 rg BT 427.71 97.50 Td (average ) Tj ET Q
q 0 0 0 rg BT 461.89 97.50 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 488.37 97.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 502.58 97.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 517.39 97.50 Td (year ) Tj ET Q
q 0 0 0 rg BT 537.43 97.50 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 84.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 79.53 84.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 95.28 84.90 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 121.53 84.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 132.90 84.90 Td (compared ) Tj ET Q
q 0 0 0 rg BT 176.92 84.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 187.71 84.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 203.17 84.90 Td (year ) Tj ET Q
q 0 0 0 rg BT 223.86 84.90 Td (ended ) Tj ET Q
q 0 0 0 rg BT 251.56 84.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 281.59 84.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 297.34 84.90 Td (2017.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 59.70 Td (T) Tj ET Q
q 0 0 0 rg BT 55.18 59.70 Td (otal ) Tj ET Q
q 0 0 0 rg BT 73.51 59.70 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 118.07 59.70 Td (Revenues ) Tj ET Q
q 0 0 0 rg BT 161.47 59.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 176.30 59.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 191.71 59.70 Td (year ) Tj ET Q
q 0 0 0 rg BT 212.35 59.70 Td (ended ) Tj ET Q
q 0 0 0 rg BT 240.00 59.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 269.99 59.70 Td (31, ) Tj ET Q
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q 0 0 0 rg BT 179.14 514.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 211.38 514.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 225.52 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 240.24 514.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 260.21 514.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 287.18 514.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 316.48 514.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 331.51 514.95 Td (2016. ) Tj ET Q
q 0 0 0 rg BT 357.03 514.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 358.93 514.95 Td (Of ) Tj ET Q
q 0 0 0 rg BT 371.91 514.95 Td (this ) Tj ET Q
q 0 0 0 rg BT 388.98 514.95 Td (increase, ) Tj ET Q
q 0 0 0 rg BT 427.89 514.95 Td ($60.2 ) Tj ET Q
q 0 0 0 rg BT 453.42 514.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 485.65 514.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 503.88 514.95 Td (due ) Tj ET Q
q 0 0 0 rg BT 520.94 514.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 531.01 514.95 Td (Clarion ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 87.17 502.35 Td (after ) Tj ET Q
q 0 0 0 rg BT 109.67 502.35 Td (it ) Tj ET Q
q 0 0 0 rg BT 118.76 502.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 138.36 502.35 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 177.77 502.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 188.48 502.35 Td (April ) Tj ET Q
q 0 0 0 rg BT 213.91 502.35 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 240.79 502.35 Td ($35.0 ) Tj ET Q
q 0 0 0 rg BT 267.68 502.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 301.28 502.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 320.88 502.35 Td (due ) Tj ET Q
q 0 0 0 rg BT 339.30 502.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 350.73 502.35 Td (EnT) Tj ET Q
q 0 0 0 rg BT 368.44 502.35 Td (rust ) Tj ET Q
q 0 0 0 rg BT 387.45 502.35 Td (after ) Tj ET Q
q 0 0 0 rg BT 409.95 502.35 Td (it ) Tj ET Q
q 0 0 0 rg BT 419.05 502.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 438.64 502.35 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 478.05 502.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 489.48 502.35 Td (May ) Tj ET Q
q 0 0 0 rg BT 511.99 502.35 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 538.88 502.35 Td ($14.8 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 82.59 489.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 101.67 489.75 Td (due ) Tj ET Q
q 0 0 0 rg BT 119.59 489.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 130.51 489.75 Td (higher ) Tj ET Q
q 0 0 0 rg BT 160.09 489.75 Td (average ) Tj ET Q
q 0 0 0 rg BT 195.48 489.75 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 219.81 489.75 Td (income ) Tj ET Q
q 0 0 0 rg BT 253.47 489.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 280.72 489.75 Td (managed ) Tj ET Q
q 0 0 0 rg BT 321.37 489.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 334.43 489.75 Td (W) Tj ET Q
q 0 0 0 rg BT 343.50 489.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 370.71 489.75 Td (Asset ) Tj ET Q
q 0 0 0 rg BT 396.80 489.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 414.72 489.75 Td (Brandywine ) Tj ET Q
q 0 0 0 rg BT 468.79 489.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 486.71 489.75 Td ($12.9 ) Tj ET Q
q 0 0 0 rg BT 513.08 489.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 546.17 489.75 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (due ) Tj ET Q
q 0 0 0 rg BT 67.53 477.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 78.57 477.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 86.11 477.15 Td (full ) Tj ET Q
q 0 0 0 rg BT 103.56 477.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 124.50 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 136.12 477.15 Td (results ) Tj ET Q
q 0 0 0 rg BT 166.41 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 178.03 477.15 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 208.90 477.15 Td (Infrastructure, ) Tj ET Q
q 0 0 0 rg BT 271.54 477.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 300.07 477.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 319.27 477.15 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 358.29 477.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 369.33 477.15 Td (October ) Tj ET Q
q 0 0 0 rg BT 406.02 477.15 Td (2015. ) Tj ET Q
q 0 0 0 rg BT 432.52 477.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 435.19 477.15 Td (These ) Tj ET Q
q 0 0 0 rg BT 463.13 477.15 Td (increases ) Tj ET Q
q 0 0 0 rg BT 504.48 477.15 Td (were ) Tj ET Q
q 0 0 0 rg BT 527.76 477.15 Td (of) Tj ET Q
q 0 0 0 rg BT 536.31 477.15 Td (fset ) Tj ET Q
q 0 0 0 rg BT 554.35 477.15 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (part ) Tj ET Q
q 0 0 0 rg BT 69.28 464.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 83.24 464.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 91.36 464.55 Td (decrease ) Tj ET Q
q 0 0 0 rg BT 130.96 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 143.17 464.55 Td ($15.2 ) Tj ET Q
q 0 0 0 rg BT 170.25 464.55 Td (million ) Tj ET Q
q 0 0 0 rg BT 204.05 464.55 Td (due ) Tj ET Q
q 0 0 0 rg BT 222.67 464.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 234.29 464.55 Td (lower ) Tj ET Q
q 0 0 0 rg BT 261.66 464.55 Td (average ) Tj ET Q
q 0 0 0 rg BT 297.76 464.55 Td (equity ) Tj ET Q
q 0 0 0 rg BT 327.46 464.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 355.42 464.55 Td (managed ) Tj ET Q
q 0 0 0 rg BT 396.78 464.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 410.74 464.55 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 442.78 464.55 Td (Currie, ) Tj ET Q
q 0 0 0 rg BT 475.69 464.55 Td (Brandywine ) Tj ET Q
q 0 0 0 rg BT 530.47 464.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 549.09 464.55 Td (QS ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (Investors ) Tj ET Q
q 0 0 0 rg BT 90.62 451.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 108.40 451.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 115.69 451.95 Td (decrease ) Tj ET Q
q 0 0 0 rg BT 154.45 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 165.82 451.95 Td ($1) Tj ET Q
q 0 0 0 rg BT 175.93 451.95 Td (1.6 ) Tj ET Q
q 0 0 0 rg BT 191.68 451.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 224.65 451.95 Td (due ) Tj ET Q
q 0 0 0 rg BT 242.43 451.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 253.22 451.95 Td (lower ) Tj ET Q
q 0 0 0 rg BT 279.76 451.95 Td (average ) Tj ET Q
q 0 0 0 rg BT 315.02 451.95 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 361.96 451.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 389.08 451.95 Td (managed ) Tj ET Q
q 0 0 0 rg BT 429.60 451.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 442.73 451.95 Td (legacy ) Tj ET Q
q 0 0 0 rg BT 472.75 451.95 Td (Permal. ) Tj ET Q
q 0 0 0 rg BT 507.74 451.95 Td ( ) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (Investment ) Tj ET Q
q 0 0 0 rg BT 99.57 426.75 Td (Advisory ) Tj ET Q
q 0 0 0 rg BT 140.11 426.75 Td (Fees ) Tj ET Q
q 0 0 0 rg BT 163.15 426.75 Td (from ) Tj ET Q
q 0 0 0 rg BT 186.77 426.75 Td (Funds) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (For ) Tj ET Q
q 0 0 0 rg BT 66.79 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 82.32 414.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 103.10 414.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 130.87 414.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 160.98 414.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 176.81 414.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 203.14 414.15 Td (Investment ) Tj ET Q
q 0 0 0 rg BT 252.50 414.15 Td (advisory ) Tj ET Q
q 0 0 0 rg BT 291.37 414.15 Td (fees ) Tj ET Q
q 0 0 0 rg BT 310.98 414.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 334.09 414.15 Td (funds ) Tj ET Q
q 0 0 0 rg BT 360.13 414.15 Td (increased ) Tj ET Q
q 0 0 0 rg BT 402.48 414.15 Td ($82.8 ) Tj ET Q
q 0 0 0 rg BT 428.81 414.15 Td (million, ) Tj ET Q
q 0 0 0 rg BT 464.47 414.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 475.92 414.15 Td (6%, ) Tj ET Q
q 0 0 0 rg BT 495.25 414.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 506.12 414.15 Td ($1.56 ) Tj ET Q
q 0 0 0 rg BT 532.45 414.15 Td (billion, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 60.51 401.55 Td (compared ) Tj ET Q
q 0 0 0 rg BT 104.16 401.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 114.59 401.55 Td ($1.48 ) Tj ET Q
q 0 0 0 rg BT 140.47 401.55 Td (billion ) Tj ET Q
q 0 0 0 rg BT 170.15 401.55 Td (for ) Tj ET Q
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q 0 0 0 rg BT 199.73 401.55 Td (year ) Tj ET Q
q 0 0 0 rg BT 220.06 401.55 Td (ended ) Tj ET Q
q 0 0 0 rg BT 247.39 401.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 277.05 401.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 292.44 401.55 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 318.32 401.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 320.58 401.55 Td (Of ) Tj ET Q
q 0 0 0 rg BT 333.92 401.55 Td (this ) Tj ET Q
q 0 0 0 rg BT 351.35 401.55 Td (increase, ) Tj ET Q
q 0 0 0 rg BT 390.62 401.55 Td ($101.1 ) Tj ET Q
q 0 0 0 rg BT 421.76 401.55 Td (million ) Tj ET Q
q 0 0 0 rg BT 454.35 401.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 472.94 401.55 Td (due ) Tj ET Q
q 0 0 0 rg BT 490.36 401.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 500.78 401.55 Td (higher ) Tj ET Q
q 0 0 0 rg BT 529.87 401.55 Td (average ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 79.40 388.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 107.56 388.95 Td (managed ) Tj ET Q
q 0 0 0 rg BT 149.12 388.95 Td (at ) Tj ET Q
q 0 0 0 rg BT 160.36 388.95 Td (ClearBridge ) Tj ET Q
q 0 0 0 rg BT 215.33 388.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 234.15 388.95 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 266.39 388.95 Td (Currie, ) Tj ET Q
q 0 0 0 rg BT 299.50 388.95 Td ($41.8 ) Tj ET Q
q 0 0 0 rg BT 326.78 388.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 360.78 388.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 380.77 388.95 Td (due ) Tj ET Q
q 0 0 0 rg BT 399.59 388.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 411.42 388.95 Td (higher ) Tj ET Q
q 0 0 0 rg BT 441.90 388.95 Td (average ) Tj ET Q
q 0 0 0 rg BT 478.20 388.95 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 503.43 388.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 538.00 388.95 Td (assets ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (managed ) Tj ET Q
q 0 0 0 rg BT 90.19 376.35 Td (at ) Tj ET Q
q 0 0 0 rg BT 100.35 376.35 Td (W) Tj ET Q
q 0 0 0 rg BT 109.42 376.35 Td (estern ) Tj ET Q
q 0 0 0 rg BT 136.67 376.35 Td (Asset, ) Tj ET Q
q 0 0 0 rg BT 165.41 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 183.36 376.35 Td ($19.1 ) Tj ET Q
q 0 0 0 rg BT 209.77 376.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 242.90 376.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 262.02 376.35 Td (due ) Tj ET Q
q 0 0 0 rg BT 279.96 376.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 290.92 376.35 Td (higher ) Tj ET Q
q 0 0 0 rg BT 320.53 376.35 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 360.63 376.35 Td (earned ) Tj ET Q
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q 0 0 0 rg BT 438.97 376.35 Td (Partners, ) Tj ET Q
q 0 0 0 rg BT 478.79 376.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 507.24 376.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 526.36 376.35 Td (acquired ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 59.71 363.75 Td (April ) Tj ET Q
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q 0 0 0 rg BT 110.75 363.75 Td (due ) Tj ET Q
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q 0 0 0 rg BT 139.32 363.75 Td (part ) Tj ET Q
q 0 0 0 rg BT 158.27 363.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 169.06 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 184.51 363.75 Td (inclusion ) Tj ET Q
q 0 0 0 rg BT 225.63 363.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 237.00 363.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 244.28 363.75 Td (full ) Tj ET Q
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q 0 0 0 rg BT 333.48 363.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 344.27 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 359.72 363.75 Td (current ) Tj ET Q
q 0 0 0 rg BT 392.08 363.75 Td (year) Tj ET Q
q 0 0 0 rg BT 409.57 363.75 Td (. ) Tj ET Q
q 0 0 0 rg BT 414.81 363.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 417.25 363.75 Td (These ) Tj ET Q
q 0 0 0 rg BT 444.94 363.75 Td (increases ) Tj ET Q
q 0 0 0 rg BT 486.04 363.75 Td (were ) Tj ET Q
q 0 0 0 rg BT 509.07 363.75 Td (of) Tj ET Q
q 0 0 0 rg BT 517.62 363.75 Td (fset ) Tj ET Q
q 0 0 0 rg BT 535.41 363.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 546.20 363.75 Td (part ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 63.50 351.15 Td (a ) Tj ET Q
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q 0 0 0 rg BT 111.28 351.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 123.52 351.15 Td ($43.5 ) Tj ET Q
q 0 0 0 rg BT 150.64 351.15 Td (million ) Tj ET Q
q 0 0 0 rg BT 184.48 351.15 Td (due ) Tj ET Q
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q 0 0 0 rg BT 214.79 351.15 Td (lower ) Tj ET Q
q 0 0 0 rg BT 242.20 351.15 Td (average ) Tj ET Q
q 0 0 0 rg BT 278.33 351.15 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 326.14 351.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 354.13 351.15 Td (managed ) Tj ET Q
q 0 0 0 rg BT 395.52 351.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 409.52 351.15 Td (EnT) Tj ET Q
q 0 0 0 rg BT 427.23 351.15 Td (rustPermal, ) Tj ET Q
q 0 0 0 rg BT 478.84 351.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 487.00 351.15 Td (decrease ) Tj ET Q
q 0 0 0 rg BT 526.63 351.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 538.87 351.15 Td ($26.1 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (million ) Tj ET Q
q 0 0 0 rg BT 82.38 338.55 Td (due ) Tj ET Q
q 0 0 0 rg BT 100.08 338.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 110.79 338.55 Td (the ) Tj ET Q
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q 0 0 0 rg BT 174.79 338.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 186.08 338.55 Td (two ) Tj ET Q
q 0 0 0 rg BT 204.37 338.55 Td (small ) Tj ET Q
q 0 0 0 rg BT 229.67 338.55 Td (investment ) Tj ET Q
q 0 0 0 rg BT 278.28 338.55 Td (managers ) Tj ET Q
q 0 0 0 rg BT 321.06 338.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 331.77 338.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 361.71 338.55 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 385.25 338.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 402.96 338.55 Td (December ) Tj ET Q
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q 0 0 0 rg BT 492.51 338.55 Td (a ) Tj ET Q
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q 0 0 0 rg BT 515.08 338.55 Td (decrease ) Tj ET Q
q 0 0 0 rg BT 553.76 338.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td ($13.8 ) Tj ET Q
q 0 0 0 rg BT 75.58 325.95 Td (million ) Tj ET Q
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q 0 0 0 rg BT 118.99 325.95 Td (fees ) Tj ET Q
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q 0 0 0 rg BT 161.21 325.95 Td (liquidity ) Tj ET Q
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q 0 0 0 rg BT 345.58 325.95 Td (liquidity ) Tj ET Q
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q 0 0 0 rg BT 450.92 325.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 463.70 325.95 Td (W) Tj ET Q
q 0 0 0 rg BT 472.77 325.95 Td (estern ) Tj ET Q
q 0 0 0 rg BT 499.75 325.95 Td (Asset, ) Tj ET Q
q 0 0 0 rg BT 528.16 325.95 Td (of) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (part ) Tj ET Q
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q 0 0 0 rg BT 157.37 313.35 Td (waivers ) Tj ET Q
q 0 0 0 rg BT 192.65 313.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 205.78 313.35 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 243.99 313.35 Td (funds.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (For ) Tj ET Q
q 0 0 0 rg BT 66.79 288.15 Td (the ) Tj ET Q
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q 0 0 0 rg BT 103.10 288.15 Td (ended ) Tj ET Q
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q 0 0 0 rg BT 176.81 288.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 203.14 288.15 Td (Investment ) Tj ET Q
q 0 0 0 rg BT 252.50 288.15 Td (advisory ) Tj ET Q
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q 0 0 0 rg BT 310.98 288.15 Td (from ) Tj ET Q
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q 0 0 0 rg BT 402.48 288.15 Td ($73.0 ) Tj ET Q
q 0 0 0 rg BT 428.81 288.15 Td (million, ) Tj ET Q
q 0 0 0 rg BT 464.47 288.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 475.92 288.15 Td (5%, ) Tj ET Q
q 0 0 0 rg BT 495.25 288.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 506.12 288.15 Td ($1.48 ) Tj ET Q
q 0 0 0 rg BT 532.45 288.15 Td (billion, ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 170.19 275.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 184.70 275.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 199.80 275.55 Td (year ) Tj ET Q
q 0 0 0 rg BT 220.14 275.55 Td (ended ) Tj ET Q
q 0 0 0 rg BT 247.47 275.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 277.15 275.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 292.54 275.55 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 318.43 275.55 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 359.77 275.55 Td (due ) Tj ET Q
q 0 0 0 rg BT 377.20 275.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 387.64 275.55 Td (increases ) Tj ET Q
q 0 0 0 rg BT 428.38 275.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 439.40 275.55 Td ($125.3 ) Tj ET Q
q 0 0 0 rg BT 470.54 275.55 Td (million ) Tj ET Q
q 0 0 0 rg BT 503.14 275.55 Td (due ) Tj ET Q
q 0 0 0 rg BT 520.57 275.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 531.01 275.55 Td (Clarion ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 262.95 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 86.50 262.95 Td (after ) Tj ET Q
q 0 0 0 rg BT 108.32 262.95 Td (it ) Tj ET Q
q 0 0 0 rg BT 116.74 262.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 135.66 262.95 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 174.40 262.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 184.58 262.95 Td (April ) Tj ET Q
q 0 0 0 rg BT 209.34 262.95 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 235.55 262.95 Td ($63.6 ) Tj ET Q
q 0 0 0 rg BT 261.77 262.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 294.69 262.95 Td (due ) Tj ET Q
q 0 0 0 rg BT 312.44 262.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 323.20 262.95 Td (EnT) Tj ET Q
q 0 0 0 rg BT 340.91 262.95 Td (rust ) Tj ET Q
q 0 0 0 rg BT 359.25 262.95 Td (after ) Tj ET Q
q 0 0 0 rg BT 381.07 262.95 Td (it ) Tj ET Q
q 0 0 0 rg BT 389.49 262.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 408.41 262.95 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 447.15 262.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 457.91 262.95 Td (May ) Tj ET Q
q 0 0 0 rg BT 479.74 262.95 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 505.96 262.95 Td ($22.0 ) Tj ET Q
q 0 0 0 rg BT 532.17 262.95 Td (million ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 250.35 Td (due ) Tj ET Q
q 0 0 0 rg BT 66.67 250.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 76.85 250.35 Td (higher ) Tj ET Q
q 0 0 0 rg BT 105.69 250.35 Td (average ) Tj ET Q
q 0 0 0 rg BT 140.34 250.35 Td (equity ) Tj ET Q
q 0 0 0 rg BT 168.59 250.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 195.10 250.35 Td (managed ) Tj ET Q
q 0 0 0 rg BT 235.01 250.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 247.52 250.35 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 278.11 250.35 Td (Currie, ) Tj ET Q
q 0 0 0 rg BT 309.58 250.35 Td ($13.7 ) Tj ET Q
q 0 0 0 rg BT 335.21 250.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 367.56 250.35 Td (due ) Tj ET Q
q 0 0 0 rg BT 384.73 250.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 394.91 250.35 Td (fees ) Tj ET Q
q 0 0 0 rg BT 413.83 250.35 Td (from ) Tj ET Q
q 0 0 0 rg BT 436.25 250.35 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 473.85 250.35 Td (assets, ) Tj ET Q
q 0 0 0 rg BT 502.98 250.35 Td (lar) Tj ET Q
q 0 0 0 rg BT 513.87 250.35 Td (gely ) Tj ET Q
q 0 0 0 rg BT 533.96 250.35 Td (related ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 60.66 237.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 68.31 237.75 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 110.96 237.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 122.12 237.75 Td (fee ) Tj ET Q
q 0 0 0 rg BT 137.92 237.75 Td (waivers ) Tj ET Q
q 0 0 0 rg BT 173.57 237.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 187.06 237.75 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 225.64 237.75 Td (funds ) Tj ET Q
q 0 0 0 rg BT 251.97 237.75 Td (managed ) Tj ET Q
q 0 0 0 rg BT 292.86 237.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 306.13 237.75 Td (W) Tj ET Q
q 0 0 0 rg BT 315.20 237.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 342.61 237.75 Td (Asset, ) Tj ET Q
q 0 0 0 rg BT 371.56 237.75 Td ($9.7 ) Tj ET Q
q 0 0 0 rg BT 392.92 237.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 426.25 237.75 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 468.32 237.75 Td (due ) Tj ET Q
q 0 0 0 rg BT 486.47 237.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 497.63 237.75 Td (including ) Tj ET Q
q 0 0 0 rg BT 540.29 237.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 547.94 237.75 Td (full ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 69.91 225.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 80.99 225.15 Td (results ) Tj ET Q
q 0 0 0 rg BT 110.75 225.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 113.09 225.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 127.67 225.15 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 158.01 225.15 Td (Infrastructure, ) Tj ET Q
q 0 0 0 rg BT 220.11 225.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 248.11 225.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 266.78 225.15 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 305.27 225.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 315.78 225.15 Td (October ) Tj ET Q
q 0 0 0 rg BT 351.93 225.15 Td (2015, ) Tj ET Q
q 0 0 0 rg BT 377.90 225.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 395.40 225.15 Td ($6.0 ) Tj ET Q
q 0 0 0 rg BT 416.11 225.15 Td (million ) Tj ET Q
q 0 0 0 rg BT 448.79 225.15 Td (due ) Tj ET Q
q 0 0 0 rg BT 466.29 225.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 476.80 225.15 Td (higher ) Tj ET Q
q 0 0 0 rg BT 505.96 225.15 Td (average ) Tj ET Q
q 0 0 0 rg BT 540.94 225.15 Td (fixed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 212.55 Td (income ) Tj ET Q
q 0 0 0 rg BT 83.27 212.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 110.64 212.55 Td (managed ) Tj ET Q
q 0 0 0 rg BT 151.40 212.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 164.56 212.55 Td (W) Tj ET Q
q 0 0 0 rg BT 173.63 212.55 Td (estern ) Tj ET Q
q 0 0 0 rg BT 200.94 212.55 Td (Asset. ) Tj ET Q
q 0 0 0 rg BT 229.76 212.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 232.42 212.55 Td (These ) Tj ET Q
q 0 0 0 rg BT 260.36 212.55 Td (increases ) Tj ET Q
q 0 0 0 rg BT 301.71 212.55 Td (were ) Tj ET Q
q 0 0 0 rg BT 324.97 212.55 Td (of) Tj ET Q
q 0 0 0 rg BT 333.53 212.55 Td (fset ) Tj ET Q
q 0 0 0 rg BT 351.56 212.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 362.59 212.55 Td (part ) Tj ET Q
q 0 0 0 rg BT 381.78 212.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 395.15 212.55 Td (decreases ) Tj ET Q
q 0 0 0 rg BT 438.24 212.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 449.85 212.55 Td ($84.7 ) Tj ET Q
q 0 0 0 rg BT 476.34 212.55 Td (million ) Tj ET Q
q 0 0 0 rg BT 509.54 212.55 Td (due ) Tj ET Q
q 0 0 0 rg BT 527.57 212.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 538.60 212.55 Td (lower ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 199.95 Td (average ) Tj ET Q
q 0 0 0 rg BT 84.70 199.95 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 131.58 199.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 158.64 199.95 Td (managed ) Tj ET Q
q 0 0 0 rg BT 199.10 199.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 212.16 199.95 Td (legacy ) Tj ET Q
q 0 0 0 rg BT 242.13 199.95 Td (Permal, ) Tj ET Q
q 0 0 0 rg BT 277.06 199.95 Td ($73.5 ) Tj ET Q
q 0 0 0 rg BT 303.25 199.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 336.15 199.95 Td (due ) Tj ET Q
q 0 0 0 rg BT 353.87 199.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 364.60 199.95 Td (lower ) Tj ET Q
q 0 0 0 rg BT 391.07 199.95 Td (average ) Tj ET Q
q 0 0 0 rg BT 426.28 199.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 455.08 199.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 482.15 199.95 Td (managed ) Tj ET Q
q 0 0 0 rg BT 522.61 199.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 535.67 199.95 Td (Royce ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 187.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.29 187.35 Td (ClearBridge, ) Tj ET Q
q 0 0 0 rg BT 123.85 187.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 141.64 187.35 Td ($1) Tj ET Q
q 0 0 0 rg BT 151.75 187.35 Td (1.6 ) Tj ET Q
q 0 0 0 rg BT 167.50 187.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 200.46 187.35 Td (due ) Tj ET Q
q 0 0 0 rg BT 218.25 187.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 229.04 187.35 Td (lower ) Tj ET Q
q 0 0 0 rg BT 255.57 187.35 Td (average ) Tj ET Q
q 0 0 0 rg BT 290.84 187.35 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 315.04 187.35 Td (income ) Tj ET Q
q 0 0 0 rg BT 348.57 187.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 375.69 187.35 Td (managed ) Tj ET Q
q 0 0 0 rg BT 416.21 187.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 429.34 187.35 Td (Brandywine. ) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 49.50 162.15 Td (Investment ) Tj ET Q
q 0 0 0 rg BT 99.57 162.15 Td (Advisory ) Tj ET Q
q 0 0 0 rg BT 140.11 162.15 Td (Performance ) Tj ET Q
q 0 0 0 rg BT 199.31 162.15 Td (Fees) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 149.55 Td (As ) Tj ET Q
q 0 0 0 rg BT 64.60 149.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 76.78 149.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 107.61 149.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 124.17 149.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 151.22 149.55 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 178.28 149.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 196.87 149.55 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 223.92 149.55 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 288.00 149.55 Td (1) Tj ET Q
q 0 0 0 rg BT 292.86 149.55 Td (1%, ) Tj ET Q
q 0 0 0 rg BT 312.91 149.55 Td (12%, ) Tj ET Q
q 0 0 0 rg BT 338.21 149.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 356.81 149.55 Td (9%, ) Tj ET Q
q 0 0 0 rg BT 376.86 149.55 Td (respectively) Tj ET Q
q 0 0 0 rg BT 426.90 149.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 432.96 149.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 445.14 149.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 462.56 149.55 Td (long-term ) Tj ET Q
q 0 0 0 rg BT 506.64 149.55 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 534.57 149.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 554.33 149.55 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 136.95 Td (accounts ) Tj ET Q
q 0 0 0 rg BT 88.18 136.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 105.87 136.95 Td (were ) Tj ET Q
q 0 0 0 rg BT 128.22 136.95 Td (eligible ) Tj ET Q
q 0 0 0 rg BT 161.65 136.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 171.76 136.95 Td (earn ) Tj ET Q
q 0 0 0 rg BT 191.77 136.95 Td (performance ) Tj ET Q
q 0 0 0 rg BT 246.77 136.95 Td (fees ) Tj ET Q
q 0 0 0 rg BT 265.62 136.95 Td (at ) Tj ET Q
q 0 0 0 rg BT 275.14 136.95 Td (some ) Tj ET Q
q 0 0 0 rg BT 299.25 136.95 Td (point ) Tj ET Q
q 0 0 0 rg BT 322.78 136.95 Td (during ) Tj ET Q
q 0 0 0 rg BT 352.14 136.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 366.91 136.95 Td (respective ) Tj ET Q
q 0 0 0 rg BT 411.41 136.95 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 436.10 136.95 Td (year) Tj ET Q
q 0 0 0 rg BT 453.59 136.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 458.16 136.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 460.10 136.95 Td (Performance ) Tj ET Q
q 0 0 0 rg BT 515.68 136.95 Td (fees ) Tj ET Q
q 0 0 0 rg BT 534.53 136.95 Td (earned ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 124.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 62.71 124.35 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 96.93 124.35 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 134.05 124.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 147.26 124.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 174.48 124.35 Td (invested ) Tj ET Q
q 0 0 0 rg BT 212.18 124.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 233.57 124.35 Td (them ) Tj ET Q
q 0 0 0 rg BT 257.28 124.35 Td (prior ) Tj ET Q
q 0 0 0 rg BT 280.40 124.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 291.28 124.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 306.83 124.35 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 355.62 124.35 Td (closing ) Tj ET Q
q 0 0 0 rg BT 388.67 124.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 398.95 124.35 Td (April ) Tj ET Q
q 0 0 0 rg BT 423.83 124.35 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 450.17 124.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 465.70 124.35 Td (fully ) Tj ET Q
q 0 0 0 rg BT 488.25 124.35 Td (passed ) Tj ET Q
q 0 0 0 rg BT 518.96 124.35 Td (through ) Tj ET Q
q 0 0 0 rg BT 554.34 124.35 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 111.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.74 111.75 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 98.65 111.75 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 135.48 111.75 Td (management ) Tj ET Q
q 0 0 0 rg BT 191.54 111.75 Td (team, ) Tj ET Q
q 0 0 0 rg BT 216.98 111.75 Td (per ) Tj ET Q
q 0 0 0 rg BT 232.81 111.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 248.05 111.75 Td (terms ) Tj ET Q
q 0 0 0 rg BT 273.79 111.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 284.95 111.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 300.20 111.75 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 348.69 111.75 Td (agreement, ) Tj ET Q
q 0 0 0 rg BT 397.45 111.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 415.03 111.75 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 454.17 111.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 465.33 111.75 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 526.07 111.75 Td (expense, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 99.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.62 99.15 Td (therefore ) Tj ET Q
q 0 0 0 rg BT 108.47 99.15 Td (have ) Tj ET Q
q 0 0 0 rg BT 131.26 99.15 Td (no ) Tj ET Q
q 0 0 0 rg BT 144.72 99.15 Td (impact ) Tj ET Q
q 0 0 0 rg BT 176.25 99.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 189.72 99.15 Td (Net ) Tj ET Q
q 0 0 0 rg BT 207.84 99.15 Td (Income ) Tj ET Q
q 0 0 0 rg BT 242.29 99.15 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 271.43 99.15 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 325.13 99.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 336.25 99.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 360.79 99.15 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 394.96 99.15 Td (Inc. ) Tj ET Q
q 0 0 0 rg BT 413.96 99.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 416.70 99.15 Td (W) Tj ET Q
q 0 0 0 rg BT 425.77 99.15 Td (e ) Tj ET Q
q 0 0 0 rg BT 433.40 99.15 Td (expect ) Tj ET Q
q 0 0 0 rg BT 463.76 99.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 479.55 99.15 Td (full ) Tj ET Q
q 0 0 0 rg BT 497.09 99.15 Td (pass ) Tj ET Q
q 0 0 0 rg BT 518.14 99.15 Td (through ) Tj ET Q
q 0 0 0 rg BT 553.76 99.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 86.55 Td (performance ) Tj ET Q
q 0 0 0 rg BT 105.44 86.55 Td (fees ) Tj ET Q
q 0 0 0 rg BT 125.23 86.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 135.70 86.55 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 170.08 86.55 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 207.37 86.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 218.43 86.55 Td (phase ) Tj ET Q
q 0 0 0 rg BT 245.23 86.55 Td (out ) Tj ET Q
q 0 0 0 rg BT 261.53 86.55 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 325.07 86.55 Td (five ) Tj ET Q
q 0 0 0 rg BT 344.28 86.55 Td (years ) Tj ET Q
q 0 0 0 rg BT 369.32 86.55 Td (post-closing. ) Tj ET Q
q 0 0 0 rg BT 426.17 86.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 429.05 86.55 Td (Exclusive ) Tj ET Q
q 0 0 0 rg BT 473.35 86.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 484.98 86.55 Td (these ) Tj ET Q
q 0 0 0 rg BT 509.45 86.55 Td (performance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 73.95 Td (fees, ) Tj ET Q
q 0 0 0 rg BT 71.47 73.95 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 134.56 73.95 Td (7% ) Tj ET Q
q 0 0 0 rg BT 151.00 73.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 168.60 73.95 Td (8% ) Tj ET Q
q 0 0 0 rg BT 185.03 73.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 196.22 73.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 212.66 73.95 Td (long-term ) Tj ET Q
q 0 0 0 rg BT 255.97 73.95 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 282.91 73.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 301.68 73.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 312.29 73.95 Td (accounts ) Tj ET Q
q 0 0 0 rg BT 351.46 73.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 369.65 73.95 Td (were ) Tj ET Q
q 0 0 0 rg BT 392.49 73.95 Td (performance ) Tj ET Q
q 0 0 0 rg BT 447.98 73.95 Td (fee ) Tj ET Q
q 0 0 0 rg BT 463.24 73.95 Td (eligible ) Tj ET Q
q 0 0 0 rg BT 497.17 73.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 508.36 73.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 519.55 73.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 549.39 73.95 Td (31, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 61.35 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 73.31 61.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 91.28 61.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 117.71 61.35 Td (respectively) Tj ET Q
q 0 0 0 rg BT 167.76 61.35 Td (. ) Tj ET Q
q 0 0 0 rg BT 173.19 61.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 176.00 61.35 Td (During ) Tj ET Q
q 0 0 0 rg BT 208.55 61.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 224.19 61.35 Td (years ) Tj ET Q
q 0 0 0 rg BT 249.15 61.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 277.03 61.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 307.24 61.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 323.18 61.35 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 349.61 61.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 376.04 61.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 394.01 61.35 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 420.44 61.35 Td (61%, ) Tj ET Q
q 0 0 0 rg BT 445.12 61.35 Td (47% ) Tj ET Q
q 0 0 0 rg BT 467.18 61.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 485.15 61.35 Td (52%, ) Tj ET Q
q 0 0 0 rg BT 509.83 61.35 Td (respectively) Tj ET Q
q 0 0 0 rg BT 559.87 61.35 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 48.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.87 48.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 76.32 48.75 Td (performance-fee ) Tj ET Q
q 0 0 0 rg BT 148.31 48.75 Td (eligible ) Tj ET Q
q 0 0 0 rg BT 181.85 48.75 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 208.98 48.75 Td (earned ) Tj ET Q
q 0 0 0 rg BT 239.58 48.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 246.87 48.75 Td (performance ) Tj ET Q
q 0 0 0 rg BT 302.54 48.75 Td (fee.) Tj ET Q
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q 0 0 0 rg BT 365.91 489.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 393.54 489.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 423.50 489.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 439.19 489.75 Td (2018. ) Tj ET Q
q 0 0 0 rg BT 465.37 489.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 467.36 489.75 Td (A) Tj ET Q
q 0 0 0 rg BT 474.36 489.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 476.92 489.75 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 519.13 489.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 529.86 489.75 Td (average ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 81.29 477.15 Td (fund ) Tj ET Q
q 0 0 0 rg BT 102.58 477.15 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 129.71 477.15 Td (subject ) Tj ET Q
q 0 0 0 rg BT 162.08 477.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 172.87 477.15 Td (distribution ) Tj ET Q
q 0 0 0 rg BT 223.91 477.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 241.70 477.15 Td (service ) Tj ET Q
q 0 0 0 rg BT 274.06 477.15 Td (fees ) Tj ET Q
q 0 0 0 rg BT 293.59 477.15 Td (also ) Tj ET Q
q 0 0 0 rg BT 313.13 477.15 Td (contributed ) Tj ET Q
q 0 0 0 rg BT 363.57 477.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 374.36 477.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 389.82 477.15 Td (decrease.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (For ) Tj ET Q
q 0 0 0 rg BT 67.44 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 83.62 451.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 105.03 451.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 133.46 451.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 164.21 451.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 180.69 451.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 207.66 451.95 Td (Distribution ) Tj ET Q
q 0 0 0 rg BT 261.77 451.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 280.28 451.95 Td (service ) Tj ET Q
q 0 0 0 rg BT 313.36 451.95 Td (fees ) Tj ET Q
q 0 0 0 rg BT 333.62 451.95 Td (decreased ) Tj ET Q
q 0 0 0 rg BT 378.35 451.95 Td ($14.8 ) Tj ET Q
q 0 0 0 rg BT 405.33 451.95 Td (million, ) Tj ET Q
q 0 0 0 rg BT 441.64 451.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 453.74 451.95 Td (4%, ) Tj ET Q
q 0 0 0 rg BT 473.71 451.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 485.23 451.95 Td ($366.7 ) Tj ET Q
q 0 0 0 rg BT 517.45 451.95 Td (million, ) Tj ET Q
q 0 0 0 rg BT 553.77 451.95 Td (as ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (compared ) Tj ET Q
q 0 0 0 rg BT 93.97 439.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 105.21 439.35 Td ($381.5 ) Tj ET Q
q 0 0 0 rg BT 137.16 439.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 170.57 439.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 185.89 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 201.80 439.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 222.94 439.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 251.08 439.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 281.56 439.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 297.76 439.35 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 324.46 439.35 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 366.61 439.35 Td (due ) Tj ET Q
q 0 0 0 rg BT 384.85 439.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 396.09 439.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 403.82 439.35 Td (decrease ) Tj ET Q
q 0 0 0 rg BT 443.03 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 454.86 439.35 Td ($21.6 ) Tj ET Q
q 0 0 0 rg BT 481.56 439.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 514.97 439.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 546.61 439.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 557.85 439.35 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (decline ) Tj ET Q
q 0 0 0 rg BT 82.20 426.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 92.75 426.75 Td (average ) Tj ET Q
q 0 0 0 rg BT 127.78 426.75 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 159.33 426.75 Td (fund ) Tj ET Q
q 0 0 0 rg BT 180.43 426.75 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 207.32 426.75 Td (subject ) Tj ET Q
q 0 0 0 rg BT 239.45 426.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 250.00 426.75 Td (distribution ) Tj ET Q
q 0 0 0 rg BT 300.81 426.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 318.35 426.75 Td (service ) Tj ET Q
q 0 0 0 rg BT 350.47 426.75 Td (fees, ) Tj ET Q
q 0 0 0 rg BT 372.39 426.75 Td (of) Tj ET Q
q 0 0 0 rg BT 380.94 426.75 Td (fset ) Tj ET Q
q 0 0 0 rg BT 398.49 426.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 409.04 426.75 Td (part ) Tj ET Q
q 0 0 0 rg BT 427.75 426.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 440.64 426.75 Td (an ) Tj ET Q
q 0 0 0 rg BT 452.93 426.75 Td (increase ) Tj ET Q
q 0 0 0 rg BT 489.71 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 500.84 426.75 Td ($9.4 ) Tj ET Q
q 0 0 0 rg BT 521.60 426.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 554.33 426.75 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (advisement ) Tj ET Q
q 0 0 0 rg BT 99.95 414.15 Td (fees ) Tj ET Q
q 0 0 0 rg BT 119.48 414.15 Td (associated ) Tj ET Q
q 0 0 0 rg BT 165.25 414.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 186.54 414.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 202.59 414.15 Td (AUA. ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 98.21 388.95 Td (Expenses) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.18 376.35 Td (components ) Tj ET Q
q 0 0 0 rg BT 121.29 376.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 132.22 376.35 Td (T) Tj ET Q
q 0 0 0 rg BT 137.90 376.35 Td (otal ) Tj ET Q
q 0 0 0 rg BT 156.01 376.35 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 200.35 376.35 Td (Expenses ) Tj ET Q
q 0 0 0 rg BT 242.37 376.35 Td (\(in ) Tj ET Q
q 0 0 0 rg BT 256.40 376.35 Td (millions\), ) Tj ET Q
q 0 0 0 rg BT 299.30 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 316.82 376.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 332.01 376.35 Td (dollar ) Tj ET Q
q 0 0 0 rg BT 358.86 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 376.38 376.35 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 424.21 376.35 Td (changes ) Tj ET Q
q 0 0 0 rg BT 460.39 376.35 Td (between ) Tj ET Q
q 0 0 0 rg BT 497.73 376.35 Td (periods ) Tj ET Q
q 0 0 0 rg BT 531.00 376.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 553.76 376.35 Td (as ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 301.25 161.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
211.00 301.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
215.00 301.25 48.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
263.00 301.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
267.00 301.25 48.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
315.00 301.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
319.00 301.25 49.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.00 301.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
372.00 301.25 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
424.00 301.25 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.00 301.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 301.25 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
523.00 301.25 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 271.25 161.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
211.00 271.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
215.00 271.25 48.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
263.00 271.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
267.00 271.25 48.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
315.00 271.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
319.00 271.25 49.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.00 271.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
372.00 271.25 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
424.00 271.25 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.00 271.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 271.25 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
523.00 271.25 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 241.25 161.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
211.00 241.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
215.00 241.25 48.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
263.00 241.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
267.00 241.25 48.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
315.00 241.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
319.00 241.25 49.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.00 241.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
372.00 241.25 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
424.00 241.25 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.00 241.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 241.25 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
523.00 241.25 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 211.25 161.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
211.00 211.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
215.00 211.25 48.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
263.00 211.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
267.00 211.25 48.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
315.00 211.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
319.00 211.25 49.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.00 211.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
372.00 211.25 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
424.00 211.25 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.00 211.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 211.25 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
523.00 211.25 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 180.25 161.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
211.00 180.25 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
215.00 180.25 48.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
263.00 180.25 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
267.00 180.25 48.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
315.00 180.25 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
319.00 180.25 49.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.00 180.25 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
372.00 180.25 52.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
424.00 180.25 44.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.00 180.25 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 180.25 51.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
523.00 180.25 40.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 139.25 161.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
211.00 139.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
215.00 139.25 48.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
263.00 139.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
267.00 139.25 48.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
315.00 139.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
319.00 139.25 49.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.00 139.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
372.00 139.25 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
424.00 139.25 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.00 139.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 139.25 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
523.00 139.25 40.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
215 327.25 m
263 327.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
263 327.25 m
267 327.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
267 327.25 m
315 327.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
315 327.25 m
319 327.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
319 327.25 m
368 327.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
372 327.25 m
424 327.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
424 327.25 m
468 327.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
472 327.25 m
523 327.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
523 327.25 m
563 327.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 301.25 m
211 301.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
215 301.25 m
263 301.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
267 301.25 m
315 301.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
319 301.25 m
368 301.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
372 301.25 m
424 301.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
424 301.25 m
468 301.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
472 301.25 m
523 301.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
523 301.25 m
563 301.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
215 301.25 m
263 301.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
472 301.25 m
523 301.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
523 301.25 m
563 301.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 271.25 m
211 271.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
215 271.25 m
263 271.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
267 271.25 m
315 271.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
319 271.25 m
368 271.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
372 271.25 m
424 271.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
472 271.25 m
523 271.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 139.25 m
211 139.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
215 139.25 m
263 139.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
267 139.25 m
315 139.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
319 139.25 m
368 139.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
372 139.25 m
424 139.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
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0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 300.75 31.25 Td (53) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 741.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 64.40 741.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 79.89 741.75 Td (year ) Tj ET Q
q 0 0 0 rg BT 100.61 741.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 128.34 741.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 158.40 741.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 174.18 741.75 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 200.47 741.75 Td (decreased ) Tj ET Q
q 0 0 0 rg BT 244.51 741.75 Td ($145.3 ) Tj ET Q
q 0 0 0 rg BT 276.04 741.75 Td (million, ) Tj ET Q
q 0 0 0 rg BT 311.66 741.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 323.06 741.75 Td (6%, ) Tj ET Q
q 0 0 0 rg BT 342.34 741.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 353.17 741.75 Td ($2.46 ) Tj ET Q
q 0 0 0 rg BT 379.45 741.75 Td (billion, ) Tj ET Q
q 0 0 0 rg BT 412.15 741.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 423.56 741.75 Td (compared ) Tj ET Q
q 0 0 0 rg BT 467.61 741.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 478.43 741.75 Td ($2.61 ) Tj ET Q
q 0 0 0 rg BT 504.72 741.75 Td (billion ) Tj ET Q
q 0 0 0 rg BT 534.79 741.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 549.69 741.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 729.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 70.35 729.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 98.21 729.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 128.40 729.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 144.31 729.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 170.71 729.15 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 212.57 729.15 Td (due ) Tj ET Q
q 0 0 0 rg BT 230.52 729.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 241.47 729.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 248.91 729.15 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 291.35 729.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 302.30 729.15 Td (Impairment ) Tj ET Q
q 0 0 0 rg BT 354.07 729.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 365.60 729.15 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 410.38 729.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 437.66 729.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 449.19 729.15 Td ($336 ) Tj ET Q
q 0 0 0 rg BT 472.97 729.15 Td (million, ) Tj ET Q
q 0 0 0 rg BT 508.72 729.15 Td (of) Tj ET Q
q 0 0 0 rg BT 517.28 729.15 Td (fset ) Tj ET Q
q 0 0 0 rg BT 535.22 729.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 546.17 729.15 Td (part ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 716.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 62.63 716.55 Td (an ) Tj ET Q
q 0 0 0 rg BT 75.16 716.55 Td (increase ) Tj ET Q
q 0 0 0 rg BT 112.18 716.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 122.97 716.55 Td (Compensation ) Tj ET Q
q 0 0 0 rg BT 186.26 716.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 204.05 716.55 Td (benefits, ) Tj ET Q
q 0 0 0 rg BT 242.53 716.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 253.91 716.55 Td (further ) Tj ET Q
q 0 0 0 rg BT 285.10 716.55 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 327.97 716.55 Td (below) Tj ET Q
q 0 0 0 rg BT 352.95 716.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 358.20 716.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 691.35 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 93.71 691.35 Td (expenses ) Tj ET Q
q 0 0 0 rg BT 133.83 691.35 Td (incurred ) Tj ET Q
q 0 0 0 rg BT 171.03 691.35 Td (at ) Tj ET Q
q 0 0 0 rg BT 180.83 691.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 195.88 691.35 Td (investment ) Tj ET Q
q 0 0 0 rg BT 244.18 691.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 300.04 691.35 Td (af) Tj ET Q
q 0 0 0 rg BT 308.01 691.35 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 334.72 691.35 Td (level ) Tj ET Q
q 0 0 0 rg BT 357.35 691.35 Td (comprised ) Tj ET Q
q 0 0 0 rg BT 403.30 691.35 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 466.17 691.35 Td (65% ) Tj ET Q
q 0 0 0 rg BT 487.64 691.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 502.10 691.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 517.15 691.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 537.44 691.35 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 80.15 678.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 96.51 678.75 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 123.38 678.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 141.79 678.75 Td (70% ) Tj ET Q
q 0 0 0 rg BT 164.27 678.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 179.76 678.75 Td (each ) Tj ET Q
q 0 0 0 rg BT 202.24 678.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 214.22 678.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 230.30 678.75 Td (years ) Tj ET Q
q 0 0 0 rg BT 255.69 678.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 284.01 678.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 314.65 678.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 331.02 678.75 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 355.26 678.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 373.67 678.75 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 400.53 678.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 412.52 678.75 Td (total ) Tj ET Q
q 0 0 0 rg BT 434.43 678.75 Td (operating ) Tj ET Q
q 0 0 0 rg BT 477.33 678.75 Td (expenses, ) Tj ET Q
q 0 0 0 rg BT 521.10 678.75 Td (excluding ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.15 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 100.06 666.15 Td (char) Tj ET Q
q 0 0 0 rg BT 117.93 666.15 Td (ges. ) Tj ET Q
q 0 0 0 rg BT 136.71 666.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 138.70 666.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 157.18 666.15 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 201.90 666.15 Td (operating ) Tj ET Q
q 0 0 0 rg BT 243.70 666.15 Td (expenses, ) Tj ET Q
q 0 0 0 rg BT 286.38 666.15 Td (excluding ) Tj ET Q
q 0 0 0 rg BT 329.94 666.15 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 380.50 666.15 Td (char) Tj ET Q
q 0 0 0 rg BT 398.38 666.15 Td (ges, ) Tj ET Q
q 0 0 0 rg BT 417.15 666.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 432.12 666.15 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 473.91 666.15 Td (costs, ) Tj ET Q
q 0 0 0 rg BT 499.69 666.15 Td (including ) Tj ET Q
q 0 0 0 rg BT 541.50 666.15 Td (costs ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 653.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.87 653.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 77.49 653.55 Td (global ) Tj ET Q
q 0 0 0 rg BT 106.36 653.55 Td (distribution ) Tj ET Q
q 0 0 0 rg BT 157.41 653.55 Td (operations.) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.35 Td (Compensation ) Tj ET Q
q 0 0 0 rg BT 114.56 628.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 133.52 628.35 Td (Benefits) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.33 615.75 Td (components ) Tj ET Q
q 0 0 0 rg BT 121.58 615.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 132.65 615.75 Td (T) Tj ET Q
q 0 0 0 rg BT 138.33 615.75 Td (otal ) Tj ET Q
q 0 0 0 rg BT 156.58 615.75 Td (Compensation ) Tj ET Q
q 0 0 0 rg BT 219.75 615.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 237.42 615.75 Td (Benefits ) Tj ET Q
q 0 0 0 rg BT 274.92 615.75 Td (\(in ) Tj ET Q
q 0 0 0 rg BT 289.09 615.75 Td (millions\), ) Tj ET Q
q 0 0 0 rg BT 332.14 615.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 349.80 615.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 365.14 615.75 Td (dollar ) Tj ET Q
q 0 0 0 rg BT 392.14 615.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 409.80 615.75 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 457.78 615.75 Td (changes ) Tj ET Q
q 0 0 0 rg BT 494.10 615.75 Td (between ) Tj ET Q
q 0 0 0 rg BT 531.59 615.75 Td (periods) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (were as follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 542.65 174.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 542.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
228.00 542.65 44.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
272.00 542.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
276.00 542.65 44.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
320.00 542.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
324.00 542.65 45.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
369.00 542.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
373.00 542.65 49.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
422.00 542.65 47.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
469.00 542.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
473.00 542.65 44.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 542.65 45.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 502.65 174.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 502.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
228.00 502.65 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
272.00 502.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
276.00 502.65 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
320.00 502.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
324.00 502.65 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
369.00 502.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
373.00 502.65 49.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
422.00 502.65 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
469.00 502.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
473.00 502.65 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 502.65 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 472.65 174.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 472.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
228.00 472.65 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
272.00 472.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
276.00 472.65 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
320.00 472.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
324.00 472.65 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
369.00 472.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
373.00 472.65 49.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
422.00 472.65 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
469.00 472.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
473.00 472.65 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 472.65 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 421.65 174.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
224.00 421.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
228.00 421.65 44.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
272.00 421.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
276.00 421.65 44.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
320.00 421.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
324.00 421.65 45.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
369.00 421.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
373.00 421.65 49.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
422.00 421.65 47.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
469.00 421.65 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
473.00 421.65 44.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.00 421.65 45.00 -14.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
228 566.65 m
272 566.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
272 566.65 m
276 566.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
276 566.65 m
320 566.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
320 566.65 m
324 566.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
324 566.65 m
369 566.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
373 566.65 m
422 566.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
422 566.65 m
469 566.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
473 566.65 m
517 566.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
517 566.65 m
562 566.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 542.65 m
224 542.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
228 542.65 m
272 542.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
276 542.65 m
320 542.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
324 566.65 m
369 566.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
324 542.65 m
369 542.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
373 542.65 m
422 542.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
422 542.65 m
469 542.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
473 542.65 m
517 542.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
517 542.65 m
562 542.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
276 542.65 m
320 542.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
324 542.65 m
369 542.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
422 542.65 m
469 542.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 421.65 m
224 421.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
228 421.65 m
272 421.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
276 421.65 m
320 421.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
324 421.65 m
369 421.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
373 421.65 m
422 421.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
473 421.65 m
517 421.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 407.65 m
224 407.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
228 407.65 m
272 407.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
276 421.65 m
320 421.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
276 407.65 m
320 407.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
324 421.65 m
369 421.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
324 407.65 m
369 407.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
373 407.65 m
422 407.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
473 407.65 m
517 407.65 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 248.65 571.42 Td (Y) Tj ET Q
q 0 0 0 rg BT 255.71 571.42 Td (ears Ended March 31,) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 379.15 581.94 Td (2018 Compar) Tj ET Q
q 0 0 0 rg BT 440.01 581.94 Td (ed to) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 410.00 571.44 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 477.90 581.92 Td (2017 Compared to) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 506.50 571.42 Td (2016) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 239.00 547.44 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 287.00 547.42 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 335.50 547.42 Td (2016) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 394.35 557.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 378.45 546.54 Td ( Change) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 439.75 557.04 Td (%) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 427.75 546.54 Td (Change) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 491.85 556.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 478.45 546.37 Td (Change) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.60 556.87 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 522.95 546.37 Td (Change) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 532.87 Td (Salaries and incentives) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 230.50 533.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 236.50 533.04 Td (1,1) Tj ET Q
q 0 0 0 rg BT 249.63 533.04 Td (13.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 278.50 532.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 284.50 532.87 Td (1,024.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 326.50 532.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 341.35 532.87 Td (915.8) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 375.50 533.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 399.60 533.04 Td (88.5) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 452.75 533.04 Td (9) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 458.00 533.04 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 475.50 532.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 489.35 532.87 Td (109.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.25 532.87 Td (12) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 552.75 532.87 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 517.92 Td (Benefits and payroll taxes \(including) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 507.42 Td (deferred compensation\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 244.35 507.44 Td (262.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 292.35 507.42 Td (245.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 341.35 507.42 Td (232.6) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 399.60 507.44 Td (17.4) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 452.75 507.44 Td (7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.60 507.42 Td (12.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 547.50 507.42 Td (6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 492.42 Td (T) Tj ET Q
q 0 0 0 rg BT 64.73 492.42 Td (ransition and severance costs) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 249.60 492.44 Td (1) Tj ET Q
q 0 0 0 rg BT 254.85 492.44 Td (1.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 297.60 492.42 Td (36.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 346.60 492.42 Td (36.2) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 396.10 492.44 Td (\(24.9) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 418.00 492.44 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 444.00 492.44 Td (\(69) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 458.00 492.44 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 499.85 492.42 Td (0.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.25 492.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 477.42 Td (Management equity plan char) Tj ET Q
q 0 0 0 rg BT 183.49 477.42 Td (ges) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 257.50 477.44 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 297.60 477.42 Td (19.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 346.60 477.42 Td (21.4) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 396.10 477.44 Td (\(19.8) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 418.00 477.44 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 438.75 477.44 Td (\(100) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 458.00 477.44 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.35 477.42 Td (\(1.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 513.00 477.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.00 477.42 Td (\(7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 552.75 477.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 462.42 Td (Performance fee pass through) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 244.35 462.44 Td (108.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 297.60 462.42 Td (60.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 354.50 462.42 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 399.60 462.44 Td (48.0) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 447.50 462.44 Td (79) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.60 462.42 Td (60.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.15 462.42 Td (n/m) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 447.42 Td (Gains \(losses\) on deferred) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 436.92 Td (compensation and seed capital) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 426.42 Td (investments) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 249.60 426.44 Td (12.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 297.60 426.42 Td (14.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 348.35 426.42 Td (\(1.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 365.00 426.42 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 401.35 426.44 Td (\(2.1) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 418.00 426.44 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 444.00 426.44 Td (\(15) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 458.00 426.44 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.60 426.42 Td (15.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.15 426.42 Td (n/m) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 411.87 Td (T) Tj ET Q
q 0 0 0 rg BT 64.18 411.87 Td (otal Compensation and Benefits) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 230.50 412.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 236.50 412.04 Td (1,508.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 278.50 411.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 284.50 411.87 Td (1,401.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 326.50 411.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 333.50 411.87 Td (1,204.8) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 375.50 412.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 394.35 412.04 Td (107.1) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 452.75 412.04 Td (8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 475.50 411.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 489.35 411.87 Td (196.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.25 411.87 Td (16) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 398.55 Td (n/m ) Tj ET Q
q 0 0 0 rg BT 63.95 398.55 Td (- ) Tj ET Q
q 0 0 0 rg BT 68.61 398.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 80.83 398.55 Td (meaningful) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (T) Tj ET Q
q 0 0 0 rg BT 55.18 376.35 Td (otal ) Tj ET Q
q 0 0 0 rg BT 74.16 376.35 Td (Compensation ) Tj ET Q
q 0 0 0 rg BT 138.06 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 156.46 376.35 Td (Benefits ) Tj ET Q
q 0 0 0 rg BT 194.69 376.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 210.17 376.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 226.23 376.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 247.54 376.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 275.84 376.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 306.48 376.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 322.85 376.35 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 349.71 376.35 Td (increased ) Tj ET Q
q 0 0 0 rg BT 392.59 376.35 Td (8% ) Tj ET Q
q 0 0 0 rg BT 409.82 376.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 421.22 376.35 Td ($1.5 ) Tj ET Q
q 0 0 0 rg BT 442.83 376.35 Td (billion, ) Tj ET Q
q 0 0 0 rg BT 476.12 376.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 488.10 376.35 Td (compared ) Tj ET Q
q 0 0 0 rg BT 532.73 376.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 544.14 376.35 Td ($1.4 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (billion ) Tj ET Q
q 0 0 0 rg BT 78.73 363.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 92.78 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 107.42 363.75 Td (year ) Tj ET Q
q 0 0 0 rg BT 127.29 363.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 154.17 363.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 183.39 363.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 198.32 363.75 Td (2017; ) Tj ET Q
q 0 0 0 rg BT 224.05 363.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 241.02 363.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 255.07 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 269.70 363.75 Td (year ) Tj ET Q
q 0 0 0 rg BT 289.58 363.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 316.46 363.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 345.67 363.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 360.61 363.75 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 386.04 363.75 Td (increased ) Tj ET Q
q 0 0 0 rg BT 427.49 363.75 Td (16% ) Tj ET Q
q 0 0 0 rg BT 448.55 363.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 458.52 363.75 Td ($1.4 ) Tj ET Q
q 0 0 0 rg BT 478.71 363.75 Td (billion, ) Tj ET Q
q 0 0 0 rg BT 510.56 363.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 521.12 363.75 Td (compared ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.29 351.15 Td ($1.2 ) Tj ET Q
q 0 0 0 rg BT 81.29 351.15 Td (billion ) Tj ET Q
q 0 0 0 rg BT 111.34 351.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 126.21 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 141.66 351.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 162.35 351.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 190.05 351.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 220.08 351.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 235.83 351.15 Td (2016:) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 325.95 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 325.95 Td (Salaries ) Tj ET Q
q 0 0 0 rg BT 121.25 325.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 138.92 325.95 Td (incentives ) Tj ET Q
q 0 0 0 rg BT 184.00 325.95 Td (increased ) Tj ET Q
q 0 0 0 rg BT 226.15 325.95 Td ($88.5 ) Tj ET Q
q 0 0 0 rg BT 252.29 325.95 Td (million, ) Tj ET Q
q 0 0 0 rg BT 287.76 325.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 298.44 325.95 Td ($1.1 ) Tj ET Q
q 0 0 0 rg BT 319.32 325.95 Td (billion ) Tj ET Q
q 0 0 0 rg BT 349.25 325.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 364.00 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 379.34 325.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 399.92 325.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 427.50 325.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 457.42 325.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 473.05 325.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 499.19 325.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 510.44 325.95 Td (compared ) Tj ET Q
q 0 0 0 rg BT 554.35 325.95 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 313.35 Td ($1.0 ) Tj ET Q
q 0 0 0 rg BT 105.47 313.35 Td (billion ) Tj ET Q
q 0 0 0 rg BT 134.48 313.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 148.32 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 162.75 313.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 182.41 313.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 209.07 313.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 238.07 313.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 252.79 313.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 278.01 313.35 Td (driven ) Tj ET Q
q 0 0 0 rg BT 306.43 313.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 318.53 313.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 330.03 313.35 Td ($87.3 ) Tj ET Q
q 0 0 0 rg BT 355.25 313.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 387.18 313.35 Td (increase ) Tj ET Q
q 0 0 0 rg BT 423.17 313.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 432.93 313.35 Td (net ) Tj ET Q
q 0 0 0 rg BT 447.36 313.35 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 507.27 313.35 Td (at ) Tj ET Q
q 0 0 0 rg BT 516.44 313.35 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 300.75 Td (af) Tj ET Q
q 0 0 0 rg BT 93.47 300.75 Td (filiates, ) Tj ET Q
q 0 0 0 rg BT 126.95 300.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 154.89 300.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 173.51 300.75 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 214.86 300.75 Td (driven ) Tj ET Q
q 0 0 0 rg BT 243.97 300.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 256.75 300.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 271.86 300.75 Td (impact ) Tj ET Q
q 0 0 0 rg BT 302.72 300.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 313.75 300.75 Td (increased ) Tj ET Q
q 0 0 0 rg BT 355.68 300.75 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 395.27 300.75 Td (at ) Tj ET Q
q 0 0 0 rg BT 405.13 300.75 Td (certain ) Tj ET Q
q 0 0 0 rg BT 435.98 300.75 Td (revenue-share ) Tj ET Q
q 0 0 0 rg BT 497.14 300.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 523.33 300.75 Td (af) Tj ET Q
q 0 0 0 rg BT 531.30 300.75 Td (filiates, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 288.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 113.79 288.15 Td (typically ) Tj ET Q
q 0 0 0 rg BT 153.15 288.15 Td (creates ) Tj ET Q
q 0 0 0 rg BT 184.92 288.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 192.21 288.15 Td (corresponding ) Tj ET Q
q 0 0 0 rg BT 254.90 288.15 Td (increase ) Tj ET Q
q 0 0 0 rg BT 291.92 288.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 302.71 288.15 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 363.66 288.15 Td (per ) Tj ET Q
q 0 0 0 rg BT 379.69 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 395.14 288.15 Td (applicable ) Tj ET Q
q 0 0 0 rg BT 440.91 288.15 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 476.76 288.15 Td (share ) Tj ET Q
q 0 0 0 rg BT 501.54 288.15 Td (agreements. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 262.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 85.50 262.95 Td (Salaries ) Tj ET Q
q 0 0 0 rg BT 121.26 262.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 138.94 262.95 Td (incentives ) Tj ET Q
q 0 0 0 rg BT 184.03 262.95 Td (increased ) Tj ET Q
q 0 0 0 rg BT 226.19 262.95 Td ($109.1 ) Tj ET Q
q 0 0 0 rg BT 257.59 262.95 Td (million, ) Tj ET Q
q 0 0 0 rg BT 293.07 262.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 303.76 262.95 Td ($1.02 ) Tj ET Q
q 0 0 0 rg BT 329.90 262.95 Td (billion ) Tj ET Q
q 0 0 0 rg BT 359.84 262.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 374.61 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 389.96 262.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 410.54 262.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 438.13 262.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 468.06 262.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 483.70 262.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 509.85 262.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 521.12 262.95 Td (compared ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 250.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 96.83 250.35 Td ($915.8 ) Tj ET Q
q 0 0 0 rg BT 128.86 250.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 162.36 250.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 177.76 250.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 193.75 250.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 214.98 250.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 243.21 250.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 273.77 250.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 290.06 250.35 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 316.84 250.35 Td (driven ) Tj ET Q
q 0 0 0 rg BT 346.83 250.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 360.49 250.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 368.31 250.35 Td ($92.1 ) Tj ET Q
q 0 0 0 rg BT 395.09 250.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 428.59 250.35 Td (increase ) Tj ET Q
q 0 0 0 rg BT 466.14 250.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 477.47 250.35 Td (net ) Tj ET Q
q 0 0 0 rg BT 493.46 250.35 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 554.94 250.35 Td (at ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 237.75 Td (investment ) Tj ET Q
q 0 0 0 rg BT 133.87 237.75 Td (af) Tj ET Q
q 0 0 0 rg BT 141.84 237.75 Td (filiates, ) Tj ET Q
q 0 0 0 rg BT 175.33 237.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 177.62 237.75 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 218.98 237.75 Td (due ) Tj ET Q
q 0 0 0 rg BT 236.43 237.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 246.89 237.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 262.01 237.75 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 314.46 237.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 325.50 237.75 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 359.29 237.75 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 395.98 237.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 405.94 237.75 Td (April ) Tj ET Q
q 0 0 0 rg BT 430.39 237.75 Td (2016 ) Tj ET Q
q 0 0 0 rg BT 453.68 237.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 471.13 237.75 Td (EnT) Tj ET Q
q 0 0 0 rg BT 488.84 237.75 Td (rust ) Tj ET Q
q 0 0 0 rg BT 506.88 237.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 517.34 237.75 Td (May ) Tj ET Q
q 0 0 0 rg BT 538.88 237.75 Td (2016, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 225.15 Td (of) Tj ET Q
q 0 0 0 rg BT 94.06 225.15 Td (fset ) Tj ET Q
q 0 0 0 rg BT 112.21 225.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 123.37 225.15 Td (part ) Tj ET Q
q 0 0 0 rg BT 142.69 225.15 Td (by ) Tj ET Q
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q 0 0 0 rg BT 257.94 565.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 278.73 565.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 306.53 565.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 336.66 565.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 352.51 565.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 378.86 565.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 401.99 565.35 Td (comprised ) Tj ET Q
q 0 0 0 rg BT 448.46 565.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 459.93 565.35 Td ($15.2 ) Tj ET Q
q 0 0 0 rg BT 486.28 565.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 519.34 565.35 Td (associated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 552.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 105.97 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 120.60 552.75 Td (implementation ) Tj ET Q
q 0 0 0 rg BT 188.30 552.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 198.85 552.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 205.31 552.75 Td (management ) Tj ET Q
q 0 0 0 rg BT 260.75 552.75 Td (equity ) Tj ET Q
q 0 0 0 rg BT 288.80 552.75 Td (plan ) Tj ET Q
q 0 0 0 rg BT 308.67 552.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 322.72 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 337.35 552.75 Td (management ) Tj ET Q
q 0 0 0 rg BT 392.79 552.75 Td (team ) Tj ET Q
q 0 0 0 rg BT 415.00 552.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 425.54 552.75 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 458.84 552.75 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 495.05 552.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 512.01 552.75 Td ($4.6 ) Tj ET Q
q 0 0 0 rg BT 532.18 552.75 Td (million ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 540.15 Td (associated ) Tj ET Q
q 0 0 0 rg BT 131.28 540.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 152.57 540.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 165.10 540.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 209.72 540.15 Td (grant ) Tj ET Q
q 0 0 0 rg BT 233.92 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 245.29 540.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 274.16 540.15 Td (units ) Tj ET Q
q 0 0 0 rg BT 297.21 540.15 Td (under ) Tj ET Q
q 0 0 0 rg BT 323.74 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 339.19 540.15 Td (Royce ) Tj ET Q
q 0 0 0 rg BT 368.64 540.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 424.91 540.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 453.78 540.15 Td (plan.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 514.95 Td (Management ) Tj ET Q
q 0 0 0 rg BT 143.15 514.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 172.23 514.95 Td (plan ) Tj ET Q
q 0 0 0 rg BT 193.15 514.95 Td (char) Tj ET Q
q 0 0 0 rg BT 211.03 514.95 Td (ges ) Tj ET Q
q 0 0 0 rg BT 227.86 514.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 242.94 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 258.60 514.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 279.51 514.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 307.42 514.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 337.66 514.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 353.62 514.95 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 380.08 514.95 Td (represent ) Tj ET Q
q 0 0 0 rg BT 421.39 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 437.06 514.95 Td (char) Tj ET Q
q 0 0 0 rg BT 454.94 514.95 Td (ge ) Tj ET Q
q 0 0 0 rg BT 467.68 514.95 Td (arising ) Tj ET Q
q 0 0 0 rg BT 499.10 514.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 522.35 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 538.01 514.95 Td (initial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 502.35 Td (grant ) Tj ET Q
q 0 0 0 rg BT 109.70 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 121.07 502.35 Td (equity ) Tj ET Q
q 0 0 0 rg BT 149.94 502.35 Td (units ) Tj ET Q
q 0 0 0 rg BT 172.99 502.35 Td (under ) Tj ET Q
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q 0 0 0 rg BT 214.97 502.35 Td (Royce ) Tj ET Q
q 0 0 0 rg BT 244.42 502.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 300.69 502.35 Td (equity ) Tj ET Q
q 0 0 0 rg BT 329.56 502.35 Td (plan. ) Tj ET Q
q 0 0 0 rg BT 352.89 502.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 477.15 Td (See ) Tj ET Q
q 0 0 0 rg BT 102.77 477.15 Td (Note ) Tj ET Q
q 0 0 0 rg BT 125.29 477.15 Td (1) Tj ET Q
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q 0 0 0 rg BT 137.50 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 148.36 477.15 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 174.96 477.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 185.24 477.15 Td (Consolidated ) Tj ET Q
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q 0 0 0 rg BT 283.94 477.15 Td (Statement ) Tj ET Q
q 0 0 0 rg BT 328.04 477.15 Td (for ) Tj ET Q
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q 0 0 0 rg BT 386.49 477.15 Td (information ) Tj ET Q
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q 0 0 0 rg BT 480.51 477.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 536.26 477.15 Td (equity ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 464.55 Td (plans.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 439.35 Td (� ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 439.35 Td (Performance ) Tj ET Q
q 0 0 0 rg BT 141.32 439.35 Td (fee ) Tj ET Q
q 0 0 0 rg BT 156.31 439.35 Td (pass ) Tj ET Q
q 0 0 0 rg BT 176.57 439.35 Td (through ) Tj ET Q
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q 0 0 0 rg BT 256.16 439.35 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 289.83 439.35 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 326.42 439.35 Td (performance ) Tj ET Q
q 0 0 0 rg BT 381.65 439.35 Td (fees ) Tj ET Q
q 0 0 0 rg BT 400.73 439.35 Td (that ) Tj ET Q
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q 0 0 0 rg BT 531.02 439.35 Td (Clarion ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 426.75 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 122.53 426.75 Td (employees ) Tj ET Q
q 0 0 0 rg BT 170.06 426.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 181.43 426.75 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 242.38 426.75 Td (expense, ) Tj ET Q
q 0 0 0 rg BT 281.45 426.75 Td (as ) Tj ET Q
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q 0 0 0 rg BT 335.69 426.75 Td (above.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (For ) Tj ET Q
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q 0 0 0 rg BT 82.60 401.55 Td (year ) Tj ET Q
q 0 0 0 rg BT 103.51 401.55 Td (ended ) Tj ET Q
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q 0 0 0 rg BT 161.67 401.55 Td (31, ) Tj ET Q
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q 0 0 0 rg BT 284.36 401.55 Td (percentage ) Tj ET Q
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q 0 0 0 rg BT 426.92 401.55 Td (decreased ) Tj ET Q
q 0 0 0 rg BT 471.15 401.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 482.16 401.55 Td (48.0% ) Tj ET Q
q 0 0 0 rg BT 512.12 401.55 Td (from ) Tj ET Q
q 0 0 0 rg BT 535.37 401.55 Td (48.6% ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 64.69 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 80.47 388.95 Td (year ) Tj ET Q
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q 0 0 0 rg BT 159.87 388.95 Td (31, ) Tj ET Q
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q 0 0 0 rg BT 273.23 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 289.01 388.95 Td (reduction ) Tj ET Q
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q 0 0 0 rg BT 342.73 388.95 Td (transition ) Tj ET Q
q 0 0 0 rg BT 385.35 388.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 403.46 388.95 Td (severance ) Tj ET Q
q 0 0 0 rg BT 447.80 388.95 Td (costs, ) Tj ET Q
q 0 0 0 rg BT 474.38 388.95 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 516.40 388.95 Td (incurred ) Tj ET Q
q 0 0 0 rg BT 554.33 388.95 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (connection ) Tj ET Q
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q 0 0 0 rg BT 119.91 376.35 Td (the ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 136.30 363.75 Td (plan ) Tj ET Q
q 0 0 0 rg BT 157.83 363.75 Td (char) Tj ET Q
q 0 0 0 rg BT 175.71 363.75 Td (ges ) Tj ET Q
q 0 0 0 rg BT 193.16 363.75 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 242.67 363.75 Td (in ) Tj ET Q
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q 0 0 0 rg BT 500.19 363.75 Td (the ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (performance ) Tj ET Q
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q 0 0 0 rg BT 168.43 351.15 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 202.55 351.15 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 239.59 351.15 Td (that ) Tj ET Q
q 0 0 0 rg BT 257.96 351.15 Td (were ) Tj ET Q
q 0 0 0 rg BT 280.98 351.15 Td (passed ) Tj ET Q
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q 0 0 0 rg BT 369.35 351.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 380.72 351.15 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 441.67 351.15 Td (expense.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (For ) Tj ET Q
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q 0 0 0 rg BT 481.98 325.95 Td (48.6% ) Tj ET Q
q 0 0 0 rg BT 512.04 325.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 535.39 325.95 Td (45.3% ) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (the ) Tj ET Q
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q 0 0 0 rg BT 260.89 300.75 Td (Partners ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 189.15 603.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 192.40 603.15 Td (Net ) Tj ET Q
q 0 0 0 rg BT 210.82 603.15 Td (real ) Tj ET Q
q 0 0 0 rg BT 229.81 603.15 Td (estate ) Tj ET Q
q 0 0 0 rg BT 256.97 603.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 288.78 603.15 Td (char) Tj ET Q
q 0 0 0 rg BT 306.66 603.15 Td (ges ) Tj ET Q
q 0 0 0 rg BT 323.91 603.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 335.91 603.15 Td ($12.3 ) Tj ET Q
q 0 0 0 rg BT 362.79 603.15 Td (million ) Tj ET Q
q 0 0 0 rg BT 396.39 603.15 Td (were ) Tj ET Q
q 0 0 0 rg BT 420.04 603.15 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 469.35 603.15 Td (during ) Tj ET Q
q 0 0 0 rg BT 500.02 603.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 516.10 603.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 537.42 603.15 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 79.79 590.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 95.81 590.55 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 122.32 590.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 133.38 590.55 Td (connection ) Tj ET Q
q 0 0 0 rg BT 182.33 590.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 203.89 590.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 219.61 590.55 Td (restructuring ) Tj ET Q
q 0 0 0 rg BT 276.15 590.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 287.78 590.55 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 320.42 590.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 335.55 590.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 351.27 590.55 Td (combination ) Tj ET Q
q 0 0 0 rg BT 406.65 590.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 428.20 590.55 Td (EnT) Tj ET Q
q 0 0 0 rg BT 445.91 590.55 Td (rust, ) Tj ET Q
q 0 0 0 rg BT 467.18 590.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 485.23 590.55 Td (were ) Tj ET Q
q 0 0 0 rg BT 508.52 590.55 Td (of) Tj ET Q
q 0 0 0 rg BT 517.07 590.55 Td (fset ) Tj ET Q
q 0 0 0 rg BT 535.12 590.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 546.18 590.55 Td (part ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 63.09 577.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 70.83 577.95 Td ($2.7 ) Tj ET Q
q 0 0 0 rg BT 92.29 577.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 125.72 577.95 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 168.46 577.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 179.71 577.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 187.46 577.95 Td (previously ) Tj ET Q
q 0 0 0 rg BT 234.87 577.95 Td (existing ) Tj ET Q
q 0 0 0 rg BT 271.21 577.95 Td (lease ) Tj ET Q
q 0 0 0 rg BT 295.28 577.95 Td (reserve, ) Tj ET Q
q 0 0 0 rg BT 331.31 577.95 Td (while ) Tj ET Q
q 0 0 0 rg BT 357.72 577.95 Td (real ) Tj ET Q
q 0 0 0 rg BT 376.54 577.95 Td (estate ) Tj ET Q
q 0 0 0 rg BT 403.53 577.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 435.18 577.95 Td (char) Tj ET Q
q 0 0 0 rg BT 453.06 577.95 Td (ges ) Tj ET Q
q 0 0 0 rg BT 470.14 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 481.98 577.95 Td ($17.7 ) Tj ET Q
q 0 0 0 rg BT 508.69 577.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 542.11 577.95 Td (were ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 98.19 565.35 Td (during ) Tj ET Q
q 0 0 0 rg BT 128.24 565.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 143.70 565.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 164.40 565.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 192.10 565.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 222.14 565.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 237.90 565.35 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 264.15 565.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 274.96 565.35 Td (connection ) Tj ET Q
q 0 0 0 rg BT 323.65 565.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 344.96 565.35 Td (reduced ) Tj ET Q
q 0 0 0 rg BT 380.82 565.35 Td (space ) Tj ET Q
q 0 0 0 rg BT 406.77 565.35 Td (requirements ) Tj ET Q
q 0 0 0 rg BT 464.21 565.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 482.01 565.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 497.47 565.35 Td (restructuring ) Tj ET Q
q 0 0 0 rg BT 553.75 565.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 81.87 552.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 96.74 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 112.19 552.75 Td (combination ) Tj ET Q
q 0 0 0 rg BT 167.31 552.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 188.60 552.75 Td (EnT) Tj ET Q
q 0 0 0 rg BT 206.31 552.75 Td (rust.) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (Amortization ) Tj ET Q
q 0 0 0 rg BT 108.73 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 120.10 527.55 Td (Intangible ) Tj ET Q
q 0 0 0 rg BT 167.26 527.55 Td (Assets) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (For ) Tj ET Q
q 0 0 0 rg BT 67.40 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 83.55 514.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 104.94 514.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 133.33 514.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 164.05 514.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 180.49 514.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 206.70 514.95 Td (Amortization ) Tj ET Q
q 0 0 0 rg BT 266.01 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 278.08 514.95 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 323.39 514.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 351.20 514.95 Td (decreased ) Tj ET Q
q 0 0 0 rg BT 395.91 514.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 407.39 514.95 Td ($24.6 ) Tj ET Q
q 0 0 0 rg BT 434.34 514.95 Td (million, ) Tj ET Q
q 0 0 0 rg BT 470.62 514.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 482.68 514.95 Td (compared ) Tj ET Q
q 0 0 0 rg BT 527.40 514.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 538.88 514.95 Td ($26.2 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 82.90 502.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 98.20 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 114.08 502.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 135.21 502.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 163.34 502.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 193.80 502.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 209.98 502.35 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 236.67 502.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 239.50 502.35 Td (This ) Tj ET Q
q 0 0 0 rg BT 261.23 502.35 Td (decrease ) Tj ET Q
q 0 0 0 rg BT 300.42 502.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 319.81 502.35 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 361.94 502.35 Td (due ) Tj ET Q
q 0 0 0 rg BT 380.16 502.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 391.39 502.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 399.11 502.35 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 441.82 502.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 453.04 502.35 Td (amortization ) Tj ET Q
q 0 0 0 rg BT 509.17 502.35 Td (expense ) Tj ET Q
q 0 0 0 rg BT 546.04 502.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 557.85 502.35 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (result ) Tj ET Q
q 0 0 0 rg BT 75.97 489.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 87.85 489.75 Td (impairments ) Tj ET Q
q 0 0 0 rg BT 143.48 489.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 155.37 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 171.34 489.75 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 202.48 489.75 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 262.76 489.75 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 315.45 489.75 Td (management ) Tj ET Q
q 0 0 0 rg BT 372.24 489.75 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 413.28 489.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 436.83 489.75 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 486.02 489.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 497.33 489.75 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 523.21 489.75 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 547.35 489.75 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 75.67 477.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 102.72 477.15 Td (of) Tj ET Q
q 0 0 0 rg BT 111.28 477.15 Td (fset ) Tj ET Q
q 0 0 0 rg BT 129.86 477.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 141.46 477.15 Td (part ) Tj ET Q
q 0 0 0 rg BT 161.21 477.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 175.14 477.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 183.23 477.15 Td (full ) Tj ET Q
q 0 0 0 rg BT 201.23 477.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 222.73 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 234.90 477.15 Td (amortization ) Tj ET Q
q 0 0 0 rg BT 291.40 477.15 Td (expense ) Tj ET Q
q 0 0 0 rg BT 328.64 477.15 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 378.13 477.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 389.72 477.15 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 415.89 477.15 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 440.31 477.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 472.31 477.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 483.90 477.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 500.16 477.15 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 553.75 477.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 83.62 464.55 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 120.65 464.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 130.87 464.55 Td (April ) Tj ET Q
q 0 0 0 rg BT 155.66 464.55 Td (2016 ) Tj ET Q
q 0 0 0 rg BT 179.28 464.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 197.07 464.55 Td (EnT) Tj ET Q
q 0 0 0 rg BT 214.78 464.55 Td (rust ) Tj ET Q
q 0 0 0 rg BT 233.15 464.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 243.94 464.55 Td (May ) Tj ET Q
q 0 0 0 rg BT 265.82 464.55 Td (2016.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (For ) Tj ET Q
q 0 0 0 rg BT 65.98 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 80.71 439.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 100.68 439.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 127.65 439.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 156.95 439.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 171.97 439.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 197.08 439.35 Td (Amortization ) Tj ET Q
q 0 0 0 rg BT 254.96 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 265.61 439.35 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 309.50 439.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 335.90 439.35 Td (increased ) Tj ET Q
q 0 0 0 rg BT 377.44 439.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 387.50 439.35 Td ($26.2 ) Tj ET Q
q 0 0 0 rg BT 413.03 439.35 Td (million, ) Tj ET Q
q 0 0 0 rg BT 447.89 439.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 458.53 439.35 Td (compared ) Tj ET Q
q 0 0 0 rg BT 501.83 439.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 511.89 439.35 Td ($5.0 ) Tj ET Q
q 0 0 0 rg BT 532.17 439.35 Td (million ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 64.16 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 79.40 426.75 Td (year ) Tj ET Q
q 0 0 0 rg BT 99.89 426.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 127.37 426.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 157.19 426.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 172.74 426.75 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 198.78 426.75 Td (due ) Tj ET Q
q 0 0 0 rg BT 216.35 426.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 226.94 426.75 Td (additional ) Tj ET Q
q 0 0 0 rg BT 271.34 426.75 Td (amortization ) Tj ET Q
q 0 0 0 rg BT 326.83 426.75 Td (expense ) Tj ET Q
q 0 0 0 rg BT 363.06 426.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 394.04 426.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 404.62 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 419.87 426.75 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 472.45 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 483.61 426.75 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 517.52 426.75 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 554.35 426.75 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (April ) Tj ET Q
q 0 0 0 rg BT 74.29 414.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 100.54 414.15 Td (EnT) Tj ET Q
q 0 0 0 rg BT 118.25 414.15 Td (rust ) Tj ET Q
q 0 0 0 rg BT 136.62 414.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 147.42 414.15 Td (May ) Tj ET Q
q 0 0 0 rg BT 169.29 414.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 195.54 414.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 213.32 414.15 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 243.95 414.15 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 303.71 414.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 314.51 414.15 Td (October ) Tj ET Q
q 0 0 0 rg BT 350.95 414.15 Td (2015.) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (Impairment ) Tj ET Q
q 0 0 0 rg BT 103.47 388.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 114.84 388.95 Td (Intangible ) Tj ET Q
q 0 0 0 rg BT 162.00 388.95 Td (Assets) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (Impairment ) Tj ET Q
q 0 0 0 rg BT 100.66 376.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 111.58 376.35 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 155.74 376.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 182.42 376.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 204.99 376.35 Td ($229.0 ) Tj ET Q
q 0 0 0 rg BT 236.04 376.35 Td (million, ) Tj ET Q
q 0 0 0 rg BT 271.18 376.35 Td ($35.0 ) Tj ET Q
q 0 0 0 rg BT 296.97 376.35 Td (million, ) Tj ET Q
q 0 0 0 rg BT 332.11 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 349.44 376.35 Td ($371.0 ) Tj ET Q
q 0 0 0 rg BT 380.49 376.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 413.00 376.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 427.42 376.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 442.42 376.35 Td (years ) Tj ET Q
q 0 0 0 rg BT 466.75 376.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 494.00 376.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 523.58 376.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 538.87 376.35 Td (2018, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 75.70 363.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 93.44 363.75 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 119.64 363.75 Td (respectively) Tj ET Q
q 0 0 0 rg BT 169.68 363.75 Td (. ) Tj ET Q
q 0 0 0 rg BT 174.88 363.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 177.27 363.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 196.17 363.75 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 247.15 363.75 Td (char) Tj ET Q
q 0 0 0 rg BT 265.03 363.75 Td (ges ) Tj ET Q
q 0 0 0 rg BT 281.60 363.75 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 330.23 363.75 Td (during ) Tj ET Q
q 0 0 0 rg BT 360.22 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 375.63 363.75 Td (year ) Tj ET Q
q 0 0 0 rg BT 396.27 363.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 423.92 363.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 453.90 363.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 469.60 363.75 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 495.80 363.75 Td (were ) Tj ET Q
q 0 0 0 rg BT 518.77 363.75 Td (comprised ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.57 351.15 Td ($195.0 ) Tj ET Q
q 0 0 0 rg BT 91.77 351.15 Td (million ) Tj ET Q
q 0 0 0 rg BT 124.43 351.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 155.32 351.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 165.82 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 180.97 351.15 Td (EnT) Tj ET Q
q 0 0 0 rg BT 198.68 351.15 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 246.50 351.15 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 306.55 351.15 Td (fund ) Tj ET Q
q 0 0 0 rg BT 328.12 351.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 384.09 351.15 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 424.32 351.15 Td (asset, ) Tj ET Q
q 0 0 0 rg BT 449.68 351.15 Td ($32.0 ) Tj ET Q
q 0 0 0 rg BT 475.63 351.15 Td (million ) Tj ET Q
q 0 0 0 rg BT 508.29 351.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 539.18 351.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 549.67 351.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 80.85 338.55 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 141.33 338.55 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 194.23 338.55 Td (management ) Tj ET Q
q 0 0 0 rg BT 251.22 338.55 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 292.46 338.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 316.21 338.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 334.72 338.55 Td ($2.0 ) Tj ET Q
q 0 0 0 rg BT 356.43 338.55 Td (million ) Tj ET Q
q 0 0 0 rg BT 390.11 338.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 422.02 338.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 433.53 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 449.70 338.55 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 481.05 338.55 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 541.53 338.55 Td (trade ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (name ) Tj ET Q
q 0 0 0 rg BT 74.61 325.95 Td (asset. ) Tj ET Q
q 0 0 0 rg BT 100.02 325.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 102.23 325.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 120.92 325.95 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 171.70 325.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 182.25 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 197.45 325.95 Td (EnT) Tj ET Q
q 0 0 0 rg BT 215.16 325.95 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 263.02 325.95 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 323.12 325.95 Td (fund ) Tj ET Q
q 0 0 0 rg BT 344.75 325.95 Td (management ) Tj ET Q
q 0 0 0 rg BT 400.76 325.95 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 441.04 325.95 Td (asset ) Tj ET Q
q 0 0 0 rg BT 463.82 325.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 482.53 325.95 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 523.98 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 539.18 325.95 Td (result ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.68 313.35 Td (net ) Tj ET Q
q 0 0 0 rg BT 75.93 313.35 Td (client ) Tj ET Q
q 0 0 0 rg BT 101.68 313.35 Td (outflows ) Tj ET Q
q 0 0 0 rg BT 140.86 313.35 Td (from ) Tj ET Q
q 0 0 0 rg BT 163.70 313.35 Td (legacy ) Tj ET Q
q 0 0 0 rg BT 193.53 313.35 Td (high ) Tj ET Q
q 0 0 0 rg BT 214.63 313.35 Td (net ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 691.50 Td (related ) Tj ET Q
q 0 0 0 rg BT 81.19 691.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 92.49 691.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 108.45 691.50 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 161.74 691.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 173.62 691.50 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 204.75 691.50 Td (Infrastructure, ) Tj ET Q
q 0 0 0 rg BT 267.64 691.50 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 299.35 691.50 Td (Currie, ) Tj ET Q
q 0 0 0 rg BT 331.93 691.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 350.22 691.50 Td (QS ) Tj ET Q
q 0 0 0 rg BT 366.78 691.50 Td (Investors, ) Tj ET Q
q 0 0 0 rg BT 411.02 691.50 Td (of) Tj ET Q
q 0 0 0 rg BT 419.58 691.50 Td (fset ) Tj ET Q
q 0 0 0 rg BT 437.87 691.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 449.17 691.50 Td (part ) Tj ET Q
q 0 0 0 rg BT 468.62 691.50 Td (by ) Tj ET Q
q 0 0 0 rg BT 482.25 691.50 Td (an ) Tj ET Q
q 0 0 0 rg BT 495.29 691.50 Td (expense ) Tj ET Q
q 0 0 0 rg BT 532.24 691.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 544.12 691.50 Td ($0.7 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.90 Td (million, ) Tj ET Q
q 0 0 0 rg BT 85.83 678.90 Td (which ) Tj ET Q
q 0 0 0 rg BT 114.86 678.90 Td (increased ) Tj ET Q
q 0 0 0 rg BT 157.87 678.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 174.06 678.90 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 221.75 678.90 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 281.69 678.90 Td (liability ) Tj ET Q
q 0 0 0 rg BT 317.72 678.90 Td (related ) Tj ET Q
q 0 0 0 rg BT 349.65 678.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 361.19 678.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 377.38 678.90 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 426.83 678.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 438.94 678.90 Td (PK ) Tj ET Q
q 0 0 0 rg BT 455.73 678.90 Td (Investments. ) Tj ET Q
q 0 0 0 rg BT 512.47 678.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 515.83 678.90 Td (Contingent ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.30 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 109.44 666.30 Td (fair ) Tj ET Q
q 0 0 0 rg BT 127.38 666.30 Td (value ) Tj ET Q
q 0 0 0 rg BT 153.49 666.30 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 207.03 666.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 222.64 666.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 238.84 666.30 Td (year ) Tj ET Q
q 0 0 0 rg BT 260.28 666.30 Td (ended ) Tj ET Q
q 0 0 0 rg BT 288.72 666.30 Td (March ) Tj ET Q
q 0 0 0 rg BT 319.50 666.30 Td (31, ) Tj ET Q
q 0 0 0 rg BT 335.99 666.30 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 362.99 666.30 Td (reduced ) Tj ET Q
q 0 0 0 rg BT 399.59 666.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 415.79 666.30 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 463.48 666.30 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 523.42 666.30 Td (liabilities ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 653.70 Td (related ) Tj ET Q
q 0 0 0 rg BT 83.20 653.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 96.50 653.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 114.47 653.70 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 169.77 653.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 183.65 653.70 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 217.37 653.70 Td (Currie, ) Tj ET Q
q 0 0 0 rg BT 251.96 653.70 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 285.10 653.70 Td (Infrastructure, ) Tj ET Q
q 0 0 0 rg BT 349.99 653.70 Td (QS ) Tj ET Q
q 0 0 0 rg BT 368.55 653.70 Td (Investors ) Tj ET Q
q 0 0 0 rg BT 412.18 653.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 432.48 653.70 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 476.69 653.70 Td (Guard. ) Tj ET Q
q 0 0 0 rg BT 510.69 653.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 515.83 653.70 Td (Contingent ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 641.10 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 109.44 641.10 Td (fair ) Tj ET Q
q 0 0 0 rg BT 127.38 641.10 Td (value ) Tj ET Q
q 0 0 0 rg BT 153.49 641.10 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 207.03 641.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 222.64 641.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 238.84 641.10 Td (year ) Tj ET Q
q 0 0 0 rg BT 260.28 641.10 Td (ended ) Tj ET Q
q 0 0 0 rg BT 288.72 641.10 Td (March ) Tj ET Q
q 0 0 0 rg BT 319.50 641.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 335.99 641.10 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 362.99 641.10 Td (reduced ) Tj ET Q
q 0 0 0 rg BT 399.59 641.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 415.79 641.10 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 463.48 641.10 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 523.42 641.10 Td (liabilities ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.50 Td (related ) Tj ET Q
q 0 0 0 rg BT 80.69 628.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 91.48 628.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 106.93 628.50 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 159.72 628.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 171.09 628.50 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 202.30 628.50 Td (Currie ) Tj ET Q
q 0 0 0 rg BT 231.75 628.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 249.53 628.50 Td (Fauchier ) Tj ET Q
q 0 0 0 rg BT 288.89 628.50 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 325.93 628.50 Td (Management ) Tj ET Q
q 0 0 0 rg BT 383.37 628.50 Td (Limited.) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.30 Td (Other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.70 Td (For ) Tj ET Q
q 0 0 0 rg BT 67.31 590.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 83.37 590.70 Td (year ) Tj ET Q
q 0 0 0 rg BT 104.67 590.70 Td (ended ) Tj ET Q
q 0 0 0 rg BT 132.96 590.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 163.60 590.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 179.95 590.70 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 206.80 590.70 Td (Other ) Tj ET Q
q 0 0 0 rg BT 233.94 590.70 Td (expenses ) Tj ET Q
q 0 0 0 rg BT 275.07 590.70 Td (increased ) Tj ET Q
q 0 0 0 rg BT 317.94 590.70 Td ($62.7 ) Tj ET Q
q 0 0 0 rg BT 344.79 590.70 Td (million, ) Tj ET Q
q 0 0 0 rg BT 380.98 590.70 Td (or ) Tj ET Q
q 0 0 0 rg BT 392.96 590.70 Td (29%, ) Tj ET Q
q 0 0 0 rg BT 418.05 590.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 429.45 590.70 Td ($282.3 ) Tj ET Q
q 0 0 0 rg BT 461.55 590.70 Td (million, ) Tj ET Q
q 0 0 0 rg BT 497.74 590.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 509.72 590.70 Td (compared ) Tj ET Q
q 0 0 0 rg BT 554.34 590.70 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 578.10 Td ($219.6 ) Tj ET Q
q 0 0 0 rg BT 80.65 578.10 Td (million ) Tj ET Q
q 0 0 0 rg BT 113.26 578.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 127.78 578.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 142.88 578.10 Td (year ) Tj ET Q
q 0 0 0 rg BT 163.23 578.10 Td (ended ) Tj ET Q
q 0 0 0 rg BT 190.57 578.10 Td (March ) Tj ET Q
q 0 0 0 rg BT 220.25 578.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 235.65 578.10 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 261.55 578.10 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 302.90 578.10 Td (due ) Tj ET Q
q 0 0 0 rg BT 320.34 578.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 330.78 578.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 337.71 578.10 Td ($67.0 ) Tj ET Q
q 0 0 0 rg BT 363.61 578.10 Td (million ) Tj ET Q
q 0 0 0 rg BT 396.23 578.10 Td (char) Tj ET Q
q 0 0 0 rg BT 414.10 578.10 Td (ge ) Tj ET Q
q 0 0 0 rg BT 426.29 578.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 440.81 578.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 447.74 578.10 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 493.17 578.10 Td (matter ) Tj ET Q
q 0 0 0 rg BT 522.26 578.10 Td (discussed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.29 565.50 Td (Subsequent ) Tj ET Q
q 0 0 0 rg BT 111.33 565.50 Td (Event, ) Tj ET Q
q 0 0 0 rg BT 141.07 565.50 Td (Note ) Tj ET Q
q 0 0 0 rg BT 164.11 565.50 Td (18 ) Tj ET Q
q 0 0 0 rg BT 177.24 565.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 188.61 565.50 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 215.73 565.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 226.52 565.50 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 284.56 565.50 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 326.26 565.50 Td (Statements.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.30 Td (For ) Tj ET Q
q 0 0 0 rg BT 67.31 540.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 83.37 540.30 Td (year ) Tj ET Q
q 0 0 0 rg BT 104.67 540.30 Td (ended ) Tj ET Q
q 0 0 0 rg BT 132.96 540.30 Td (March ) Tj ET Q
q 0 0 0 rg BT 163.60 540.30 Td (31, ) Tj ET Q
q 0 0 0 rg BT 179.95 540.30 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 206.80 540.30 Td (Other ) Tj ET Q
q 0 0 0 rg BT 233.94 540.30 Td (expenses ) Tj ET Q
q 0 0 0 rg BT 275.07 540.30 Td (increased ) Tj ET Q
q 0 0 0 rg BT 317.94 540.30 Td ($23.2 ) Tj ET Q
q 0 0 0 rg BT 344.79 540.30 Td (million, ) Tj ET Q
q 0 0 0 rg BT 380.98 540.30 Td (or ) Tj ET Q
q 0 0 0 rg BT 392.96 540.30 Td (12%, ) Tj ET Q
q 0 0 0 rg BT 418.05 540.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 429.45 540.30 Td ($219.6 ) Tj ET Q
q 0 0 0 rg BT 461.55 540.30 Td (million, ) Tj ET Q
q 0 0 0 rg BT 497.74 540.30 Td (as ) Tj ET Q
q 0 0 0 rg BT 509.72 540.30 Td (compared ) Tj ET Q
q 0 0 0 rg BT 554.34 540.30 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.70 Td ($196.4 ) Tj ET Q
q 0 0 0 rg BT 80.48 527.70 Td (million ) Tj ET Q
q 0 0 0 rg BT 112.92 527.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 127.26 527.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 142.19 527.70 Td (year ) Tj ET Q
q 0 0 0 rg BT 162.36 527.70 Td (ended ) Tj ET Q
q 0 0 0 rg BT 189.54 527.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 219.04 527.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 234.27 527.70 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 260.00 527.70 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 301.17 527.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 312.02 527.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 318.78 527.70 Td (result ) Tj ET Q
q 0 0 0 rg BT 344.21 527.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 355.06 527.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 361.83 527.70 Td ($9.1 ) Tj ET Q
q 0 0 0 rg BT 382.30 527.70 Td (million ) Tj ET Q
q 0 0 0 rg BT 414.74 527.70 Td (increase ) Tj ET Q
q 0 0 0 rg BT 451.24 527.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 461.51 527.70 Td (travel ) Tj ET Q
q 0 0 0 rg BT 487.51 527.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 504.77 527.70 Td (entertainment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 515.10 Td (expenses ) Tj ET Q
q 0 0 0 rg BT 89.89 515.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 107.54 515.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 114.69 515.10 Td ($4.6 ) Tj ET Q
q 0 0 0 rg BT 135.55 515.10 Td (million ) Tj ET Q
q 0 0 0 rg BT 168.37 515.10 Td (increase ) Tj ET Q
q 0 0 0 rg BT 205.25 515.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 215.91 515.10 Td (insurance ) Tj ET Q
q 0 0 0 rg BT 258.63 515.10 Td (costs, ) Tj ET Q
q 0 0 0 rg BT 284.74 515.10 Td (lar) Tj ET Q
q 0 0 0 rg BT 295.62 515.10 Td (gely ) Tj ET Q
q 0 0 0 rg BT 316.19 515.10 Td (due ) Tj ET Q
q 0 0 0 rg BT 333.84 515.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 344.49 515.10 Td (costs ) Tj ET Q
q 0 0 0 rg BT 367.98 515.10 Td (incurred ) Tj ET Q
q 0 0 0 rg BT 405.45 515.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 416.10 515.10 Td (connection ) Tj ET Q
q 0 0 0 rg BT 464.66 515.10 Td (with ) Tj ET Q
q 0 0 0 rg BT 485.81 515.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 501.13 515.10 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 553.78 515.10 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.50 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 83.62 502.50 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 120.65 502.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 138.44 502.50 Td (EnT) Tj ET Q
q 0 0 0 rg BT 156.15 502.50 Td (rust, ) Tj ET Q
q 0 0 0 rg BT 177.15 502.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 194.93 502.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 202.22 502.50 Td ($6.3 ) Tj ET Q
q 0 0 0 rg BT 223.22 502.50 Td (million ) Tj ET Q
q 0 0 0 rg BT 256.18 502.50 Td (increase ) Tj ET Q
q 0 0 0 rg BT 293.20 502.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 303.99 502.50 Td (professional ) Tj ET Q
q 0 0 0 rg BT 357.94 502.50 Td (fees.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.30 Td (Non-Operating ) Tj ET Q
q 0 0 0 rg BT 120.38 477.30 Td (Income ) Tj ET Q
q 0 0 0 rg BT 156.25 477.30 Td (\(Expense\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.70 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.77 464.70 Td (components ) Tj ET Q
q 0 0 0 rg BT 122.47 464.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 133.95 464.70 Td (T) Tj ET Q
q 0 0 0 rg BT 139.63 464.70 Td (otal ) Tj ET Q
q 0 0 0 rg BT 158.32 464.70 Td (Non-Operating ) Tj ET Q
q 0 0 0 rg BT 224.84 464.70 Td (Income ) Tj ET Q
q 0 0 0 rg BT 259.27 464.70 Td (\(Expense\) ) Tj ET Q
q 0 0 0 rg BT 304.79 464.70 Td (\(in ) Tj ET Q
q 0 0 0 rg BT 319.40 464.70 Td (millions\), ) Tj ET Q
q 0 0 0 rg BT 362.90 464.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 381.01 464.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 396.78 464.70 Td (dollar ) Tj ET Q
q 0 0 0 rg BT 424.22 464.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 442.33 464.70 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 490.75 464.70 Td (changes ) Tj ET Q
q 0 0 0 rg BT 527.52 464.70 Td (between ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 452.10 Td (periods ) Tj ET Q
q 0 0 0 rg BT 83.04 452.10 Td (were ) Tj ET Q
q 0 0 0 rg BT 106.06 452.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 117.43 452.10 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 389.60 194.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
244.00 389.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
248.00 389.60 39.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
287.00 389.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.00 389.60 39.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 389.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
334.00 389.60 39.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
373.00 389.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
377.00 389.60 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
424.00 389.60 49.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
473.00 389.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
477.00 389.60 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
520.00 389.60 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 359.60 194.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
244.00 359.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
248.00 359.60 39.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
287.00 359.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.00 359.60 39.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 359.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
334.00 359.60 39.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
373.00 359.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
377.00 359.60 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
424.00 359.60 49.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
473.00 359.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
477.00 359.60 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
520.00 359.60 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 318.60 194.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
244.00 318.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
248.00 318.60 39.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
287.00 318.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.00 318.60 39.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 318.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
334.00 318.60 39.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
373.00 318.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
377.00 318.60 47.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
424.00 318.60 49.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
473.00 318.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
477.00 318.60 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
520.00 318.60 43.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
248 415.6 m
287 415.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
287 415.6 m
291 415.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
291 415.6 m
330 415.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330 415.6 m
334 415.6 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
334 415.6 m
373 415.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
377 415.6 m
424 415.6 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
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3 M
424 415.6 m
473 415.6 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
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3 M
477 415.6 m
520 415.6 l
s
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1.00 w
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[] 0 d
0 J
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3 M
520 415.6 m
563 415.6 l
s
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1.00 w
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0 J
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3 M
50 389.6 m
244 389.6 l
s
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1.00 w
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[] 0 d
0 J
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3 M
248 415.6 m
287 415.6 l
s
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1.00 w
0 i 
[] 0 d
0 J
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3 M
248 389.6 m
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1.00 w
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0 J
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3 M
287 415.6 m
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3 M
291 415.6 m
330 415.6 l
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0 J
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3 M
291 389.6 m
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1.00 w
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3 M
330 415.6 m
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0 J
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3 M
334 415.6 m
373 415.6 l
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0 J
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3 M
334 389.6 m
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1.00 w
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0 J
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3 M
377 389.6 m
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1.00 w
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0 J
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3 M
424 389.6 m
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1.00 w
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0 J
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3 M
477 389.6 m
520 389.6 l
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3 M
520 389.6 m
563 389.6 l
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3 M
291 389.6 m
330 389.6 l
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0 J
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3 M
377 389.6 m
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0 J
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3 M
424 389.6 m
473 389.6 l
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[] 0 d
0 J
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3 M
477 389.6 m
520 389.6 l
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0 J
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3 M
520 389.6 m
563 389.6 l
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0 J
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3 M
50 318.6 m
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3 M
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3 M
291 318.6 m
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3 M
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3 M
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3 M
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3 M
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3 M
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 260.65 420.37 Td (Y) Tj ET Q
q 0 0 0 rg BT 267.71 420.37 Td (ears Ended March 31,) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 383.15 430.89 Td (2018 Compar) Tj ET Q
q 0 0 0 rg BT 444.01 430.89 Td (ed to) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 414.00 420.39 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 480.40 430.87 Td (2017 Compared to) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 509.00 420.37 Td (2016) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 256.50 394.39 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 299.50 394.37 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 342.50 394.37 Td (2016) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 397.35 404.89 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 382.75 394.39 Td (Change) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 442.75 404.89 Td (%) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 430.75 394.39 Td (Change) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.35 404.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 481.95 394.37 Td (Change) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.60 404.87 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.95 394.37 Td (Change) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 379.37 Td (Interest income) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 250.50 379.39 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 269.85 379.39 Td (7.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 293.50 379.37 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 312.85 379.37 Td (6.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 336.50 379.37 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 355.85 379.37 Td (5.6) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 379.50 379.39 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 406.85 379.39 Td (0.3) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 456.75 379.39 Td (4) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 462.00 379.39 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 479.50 379.37 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 502.85 379.37 Td (1.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 543.25 379.37 Td (21) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 553.75 379.37 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 364.37 Td (Interest expense) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 255.85 364.39 Td (\(1) Tj ET Q
q 0 0 0 rg BT 264.60 364.39 Td (17.9) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 283.00 364.39 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 298.85 364.37 Td (\(1) Tj ET Q
q 0 0 0 rg BT 307.60 364.37 Td (13.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 326.00 364.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 347.10 364.37 Td (\(48.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 369.00 364.37 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 403.35 364.39 Td (\(4.7) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 420.00 364.39 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 456.75 364.39 Td (4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.10 364.37 Td (\(64.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 516.00 364.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 543.15 364.37 Td (n/m) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 349.37 Td (Other income \(expense\), net) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 264.60 349.39 Td (10.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 307.60 349.37 Td (41.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 347.10 349.37 Td (\(26.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 369.00 349.37 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 398.10 349.39 Td (\(30.9) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 420.00 349.39 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 448.00 349.39 Td (\(74) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 462.00 349.39 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 497.60 349.37 Td (67.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 543.15 349.37 Td (n/m) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 333.87 Td (Non-operating income \(expense\) of) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 66.00 323.37 Td (consolidated investment vehicles, net) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 269.85 323.39 Td (9.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 307.60 323.37 Td (13.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 352.35 323.37 Td (\(7.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 369.00 323.37 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 403.35 323.39 Td (\(3.5) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 420.00 323.39 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 448.00 323.39 Td (\(26) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 462.00 323.39 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 497.60 323.37 Td (20.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 543.15 323.37 Td (n/m) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 308.37 Td (T) Tj ET Q
q 0 0 0 rg BT 58.18 308.37 Td (otal Non-Operating Income \(Expense\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 250.50 308.39 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 261.10 308.39 Td (\(90.2) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 283.00 308.39 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 293.50 308.37 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 304.10 308.37 Td (\(51.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 326.00 308.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 336.50 308.37 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 347.10 308.37 Td (\(76.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 369.00 308.37 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 379.50 308.39 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 398.10 308.39 Td (\(38.8) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 420.00 308.39 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 451.50 308.39 Td (75) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 479.50 308.37 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 497.60 308.37 Td (24.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.75 308.37 Td (\(32) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 553.75 308.37 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 294.50 Td (n/m ) Tj ET Q
q 0 0 0 rg BT 63.95 294.50 Td (- ) Tj ET Q
q 0 0 0 rg BT 68.61 294.50 Td (not ) Tj ET Q
q 0 0 0 rg BT 80.83 294.50 Td (meaningful) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 49.50 269.30 Td (Interest ) Tj ET Q
q 0 0 0 rg BT 85.38 269.30 Td (Expense) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 256.70 Td (For ) Tj ET Q
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q 0 0 0 rg BT 80.90 256.70 Td (year ) Tj ET Q
q 0 0 0 rg BT 100.97 256.70 Td (ended ) Tj ET Q
q 0 0 0 rg BT 128.03 256.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 157.43 256.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 172.55 256.70 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 198.17 256.70 Td (Interest ) Tj ET Q
q 0 0 0 rg BT 231.65 256.70 Td (expense ) Tj ET Q
q 0 0 0 rg BT 267.46 256.70 Td (increased ) Tj ET Q
q 0 0 0 rg BT 309.10 256.70 Td ($4.7 ) Tj ET Q
q 0 0 0 rg BT 329.47 256.70 Td (million ) Tj ET Q
q 0 0 0 rg BT 361.80 256.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 371.97 256.70 Td ($1) Tj ET Q
q 0 0 0 rg BT 382.08 256.70 Td (17.9 ) Tj ET Q
q 0 0 0 rg BT 402.45 256.70 Td (million, ) Tj ET Q
q 0 0 0 rg BT 437.40 256.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 448.14 256.70 Td (compared ) Tj ET Q
q 0 0 0 rg BT 491.53 256.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 501.70 256.70 Td ($1) Tj ET Q
q 0 0 0 rg BT 511.81 256.70 Td (13.2 ) Tj ET Q
q 0 0 0 rg BT 532.18 256.70 Td (million ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 244.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 65.77 244.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 82.63 244.10 Td (year ) Tj ET Q
q 0 0 0 rg BT 104.73 244.10 Td (ended ) Tj ET Q
q 0 0 0 rg BT 133.84 244.10 Td (March ) Tj ET Q
q 0 0 0 rg BT 165.27 244.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 182.43 244.10 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 210.08 244.10 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 253.19 244.10 Td (due ) Tj ET Q
q 0 0 0 rg BT 272.38 244.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 284.58 244.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 301.44 244.10 Td (net ) Tj ET Q
q 0 0 0 rg BT 318.30 244.10 Td (impact ) Tj ET Q
q 0 0 0 rg BT 350.90 244.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 363.68 244.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 380.54 244.10 Td (issuance ) Tj ET Q
q 0 0 0 rg BT 420.14 244.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 432.92 244.10 Td ($500 ) Tj ET Q
q 0 0 0 rg BT 457.95 244.10 Td (million ) Tj ET Q
q 0 0 0 rg BT 492.32 244.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 505.10 244.10 Td (5.45% ) Tj ET Q
q 0 0 0 rg BT 536.25 244.10 Td (Junior ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 231.50 Td (Subordinated ) Tj ET Q
q 0 0 0 rg BT 108.50 231.50 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 136.01 231.50 Td (due ) Tj ET Q
q 0 0 0 rg BT 154.18 231.50 Td (2056 ) Tj ET Q
q 0 0 0 rg BT 178.19 231.50 Td (\(the ) Tj ET Q
q 0 0 0 rg BT 197.52 231.50 Td ("5.45% ) Tj ET Q
q 0 0 0 rg BT 231.94 231.50 Td (2056 ) Tj ET Q
q 0 0 0 rg BT 255.95 231.50 Td (Notes"\) ) Tj ET Q
q 0 0 0 rg BT 291.24 231.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 301.75 231.50 Td (August ) Tj ET Q
q 0 0 0 rg BT 335.10 231.50 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 361.74 231.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 377.57 231.50 Td (proceeds ) Tj ET Q
q 0 0 0 rg BT 417.90 231.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 429.66 231.50 Td (which ) Tj ET Q
q 0 0 0 rg BT 458.33 231.50 Td (were ) Tj ET Q
q 0 0 0 rg BT 481.74 231.50 Td (used ) Tj ET Q
q 0 0 0 rg BT 503.99 231.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 515.17 231.50 Td (repay ) Tj ET Q
q 0 0 0 rg BT 541.50 231.50 Td ($500 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 218.90 Td (million ) Tj ET Q
q 0 0 0 rg BT 82.46 218.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 93.83 218.90 Td (then ) Tj ET Q
q 0 0 0 rg BT 114.54 218.90 Td (outstanding ) Tj ET Q
q 0 0 0 rg BT 166.16 218.90 Td (borrowings ) Tj ET Q
q 0 0 0 rg BT 216.62 218.90 Td (under ) Tj ET Q
q 0 0 0 rg BT 243.15 218.90 Td (our ) Tj ET Q
q 0 0 0 rg BT 259.77 218.90 Td (revolving ) Tj ET Q
q 0 0 0 rg BT 302.64 218.90 Td (credit ) Tj ET Q
q 0 0 0 rg BT 329.17 218.90 Td (facility) Tj ET Q
q 0 0 0 rg BT 358.22 218.90 Td (. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 193.70 Td (For ) Tj ET Q
q 0 0 0 rg BT 66.06 193.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 80.86 193.70 Td (year ) Tj ET Q
q 0 0 0 rg BT 100.90 193.70 Td (ended ) Tj ET Q
q 0 0 0 rg BT 127.95 193.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 157.33 193.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 172.43 193.70 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 198.03 193.70 Td (Interest ) Tj ET Q
q 0 0 0 rg BT 231.49 193.70 Td (expense ) Tj ET Q
q 0 0 0 rg BT 267.28 193.70 Td (increased ) Tj ET Q
q 0 0 0 rg BT 308.90 193.70 Td ($64.8 ) Tj ET Q
q 0 0 0 rg BT 334.50 193.70 Td (million ) Tj ET Q
q 0 0 0 rg BT 366.81 193.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 376.95 193.70 Td ($1) Tj ET Q
q 0 0 0 rg BT 387.06 193.70 Td (13.2 ) Tj ET Q
q 0 0 0 rg BT 407.41 193.70 Td (million, ) Tj ET Q
q 0 0 0 rg BT 442.34 193.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 453.07 193.70 Td (compared ) Tj ET Q
q 0 0 0 rg BT 496.44 193.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 506.58 193.70 Td ($48.4 ) Tj ET Q
q 0 0 0 rg BT 532.18 193.70 Td (million ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 181.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 64.25 181.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 79.58 181.10 Td (year ) Tj ET Q
q 0 0 0 rg BT 100.15 181.10 Td (ended ) Tj ET Q
q 0 0 0 rg BT 127.73 181.10 Td (March ) Tj ET Q
q 0 0 0 rg BT 157.64 181.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 173.27 181.10 Td (2016. ) Tj ET Q
q 0 0 0 rg BT 199.40 181.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 201.72 181.10 Td (The ) Tj ET Q
q 0 0 0 rg BT 220.55 181.10 Td (increase ) Tj ET Q
q 0 0 0 rg BT 257.45 181.10 Td (was ) Tj ET Q
q 0 0 0 rg BT 276.28 181.10 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 317.86 181.10 Td (due ) Tj ET Q
q 0 0 0 rg BT 335.52 181.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 346.20 181.10 Td (the ) Tj ET Q
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q 0 0 0 rg BT 526.66 615.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 542.67 615.75 Td (fully ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 99.94 603.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 110.73 603.15 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 175.19 603.15 Td (interests.) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (Non-Operating ) Tj ET Q
q 0 0 0 rg BT 118.05 577.95 Td (Income ) Tj ET Q
q 0 0 0 rg BT 153.34 577.95 Td (\(Expense\) ) Tj ET Q
q 0 0 0 rg BT 199.71 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 211.08 577.95 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 270.30 577.95 Td (Investment ) Tj ET Q
q 0 0 0 rg BT 320.76 577.95 Td (V) Tj ET Q
q 0 0 0 rg BT 326.60 577.95 Td (ehicles, ) Tj ET Q
q 0 0 0 rg BT 361.59 577.95 Td (Net) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (For ) Tj ET Q
q 0 0 0 rg BT 65.68 565.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 80.10 565.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 99.76 565.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 126.43 565.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 155.42 565.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 170.14 565.35 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 195.36 565.35 Td (Non-operating ) Tj ET Q
q 0 0 0 rg BT 258.19 565.35 Td (income ) Tj ET Q
q 0 0 0 rg BT 290.69 565.35 Td (\(expense\) ) Tj ET Q
q 0 0 0 rg BT 333.09 565.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 343.43 565.35 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 398.09 565.35 Td (investment ) Tj ET Q
q 0 0 0 rg BT 445.77 565.35 Td (vehicles, ) Tj ET Q
q 0 0 0 rg BT 484.39 565.35 Td (net, ) Tj ET Q
q 0 0 0 rg BT 501.43 565.35 Td (totaled ) Tj ET Q
q 0 0 0 rg BT 531.60 565.35 Td (income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.81 552.75 Td ($9.8 ) Tj ET Q
q 0 0 0 rg BT 81.74 552.75 Td (million, ) Tj ET Q
q 0 0 0 rg BT 117.26 552.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 128.57 552.75 Td (compared ) Tj ET Q
q 0 0 0 rg BT 172.52 552.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 183.25 552.75 Td (income ) Tj ET Q
q 0 0 0 rg BT 216.71 552.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 228.02 552.75 Td ($13.3 ) Tj ET Q
q 0 0 0 rg BT 254.20 552.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 287.10 552.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 297.82 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 313.21 552.75 Td (year ) Tj ET Q
q 0 0 0 rg BT 333.83 552.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 361.46 552.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 391.43 552.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 407.11 552.75 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 433.29 552.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 435.67 552.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 454.55 552.75 Td (change ) Tj ET Q
q 0 0 0 rg BT 486.84 552.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 505.73 552.75 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 547.36 552.75 Td (due ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.29 540.15 Td (activity ) Tj ET Q
q 0 0 0 rg BT 94.41 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 105.78 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 121.23 540.15 Td (CIVs ) Tj ET Q
q 0 0 0 rg BT 146.03 540.15 Td (during ) Tj ET Q
q 0 0 0 rg BT 176.07 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 191.52 540.15 Td (respective ) Tj ET Q
q 0 0 0 rg BT 236.71 540.15 Td (periods.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (For ) Tj ET Q
q 0 0 0 rg BT 65.68 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 80.10 514.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 99.76 514.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 126.43 514.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 155.42 514.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 170.14 514.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 195.36 514.95 Td (Non-operating ) Tj ET Q
q 0 0 0 rg BT 258.19 514.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 290.69 514.95 Td (\(expense\) ) Tj ET Q
q 0 0 0 rg BT 333.09 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 343.43 514.95 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 398.09 514.95 Td (investment ) Tj ET Q
q 0 0 0 rg BT 445.77 514.95 Td (vehicles, ) Tj ET Q
q 0 0 0 rg BT 484.39 514.95 Td (net, ) Tj ET Q
q 0 0 0 rg BT 501.43 514.95 Td (totaled ) Tj ET Q
q 0 0 0 rg BT 531.60 514.95 Td (income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.06 502.35 Td ($13.3 ) Tj ET Q
q 0 0 0 rg BT 85.49 502.35 Td (million, ) Tj ET Q
q 0 0 0 rg BT 120.26 502.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 130.82 502.35 Td (compared ) Tj ET Q
q 0 0 0 rg BT 174.02 502.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 184.00 502.35 Td (expense ) Tj ET Q
q 0 0 0 rg BT 219.62 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 230.18 502.35 Td ($7.2 ) Tj ET Q
q 0 0 0 rg BT 250.36 502.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 282.51 502.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 292.48 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 307.12 502.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 327.00 502.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 353.88 502.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 383.09 502.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 398.02 502.35 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 423.46 502.35 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 464.34 502.35 Td (due ) Tj ET Q
q 0 0 0 rg BT 481.31 502.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 491.28 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 505.92 502.35 Td (consolidation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.53 489.75 Td (additional ) Tj ET Q
q 0 0 0 rg BT 104.80 489.75 Td (CIVs, ) Tj ET Q
q 0 0 0 rg BT 131.88 489.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 142.91 489.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 149.85 489.75 Td (result ) Tj ET Q
q 0 0 0 rg BT 175.46 489.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 186.49 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 201.60 489.75 Td (adoption ) Tj ET Q
q 0 0 0 rg BT 240.63 489.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 251.66 489.75 Td (updated ) Tj ET Q
q 0 0 0 rg BT 287.18 489.75 Td (consolidation ) Tj ET Q
q 0 0 0 rg BT 346.04 489.75 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 394.39 489.75 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 434.58 489.75 Td (ef) Tj ET Q
q 0 0 0 rg BT 442.54 489.75 Td (fective ) Tj ET Q
q 0 0 0 rg BT 472.89 489.75 Td (April ) Tj ET Q
q 0 0 0 rg BT 497.33 489.75 Td (1, ) Tj ET Q
q 0 0 0 rg BT 507.49 489.75 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 533.40 489.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 544.43 489.75 Td (well ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 60.87 477.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 73.41 477.15 Td (increase ) Tj ET Q
q 0 0 0 rg BT 110.43 477.15 Td (in ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 121.22 477.15 Td (net ) Tj ET Q
q 0 0 0 rg BT 135.94 477.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 166.20 477.15 Td (gains ) Tj ET Q
q 0 0 0 rg BT 189.81 477.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 202.31 477.15 Td (investments ) Tj ET Q
q 0 0 0 rg BT 252.58 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 263.41 477.15 Td (certain ) Tj ET Q
q 0 0 0 rg BT 293.11 477.15 Td (CIVs) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 314.23 477.15 Td (. ) Tj ET Q
q 0 0 0 rg BT 319.48 477.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (See ) Tj ET Q
q 0 0 0 rg BT 67.60 451.95 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 95.03 451.95 Td (1 ) Tj ET Q
q 0 0 0 rg BT 103.22 451.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 121.32 451.95 Td (17 ) Tj ET Q
q 0 0 0 rg BT 134.76 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 146.44 451.95 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 173.88 451.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 184.98 451.95 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 243.34 451.95 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 285.35 451.95 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 334.36 451.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 349.55 451.95 Td (additional ) Tj ET Q
q 0 0 0 rg BT 394.48 451.95 Td (information ) Tj ET Q
q 0 0 0 rg BT 446.99 451.95 Td (regarding ) Tj ET Q
q 0 0 0 rg BT 490.16 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 505.92 451.95 Td (consolidation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.87 439.35 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 106.08 439.35 Td (investment ) Tj ET Q
q 0 0 0 rg BT 154.78 439.35 Td (vehicles ) Tj ET Q
q 0 0 0 rg BT 191.81 439.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 209.59 439.35 Td (net ) Tj ET Q
q 0 0 0 rg BT 225.05 439.35 Td (market ) Tj ET Q
q 0 0 0 rg BT 256.82 439.35 Td (gains ) Tj ET Q
q 0 0 0 rg BT 281.61 439.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 294.74 439.35 Td (investments ) Tj ET Q
q 0 0 0 rg BT 347.53 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 358.90 439.35 Td (certain ) Tj ET Q
q 0 0 0 rg BT 390.09 439.35 Td (CIVs.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (Income ) Tj ET Q
q 0 0 0 rg BT 85.18 414.15 Td (T) Tj ET Q
q 0 0 0 rg BT 91.22 414.15 Td (ax ) Tj ET Q
q 0 0 0 rg BT 104.34 414.15 Td (Pr) Tj ET Q
q 0 0 0 rg BT 115.23 414.15 Td (ovision ) Tj ET Q
q 0 0 0 rg BT 149.37 414.15 Td (\(Benefit\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (For ) Tj ET Q
q 0 0 0 rg BT 66.66 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 82.06 401.55 Td (year ) Tj ET Q
q 0 0 0 rg BT 102.70 401.55 Td (ended ) Tj ET Q
q 0 0 0 rg BT 130.35 401.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 160.33 401.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 176.03 401.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 202.22 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 217.63 401.55 Td (income ) Tj ET Q
q 0 0 0 rg BT 251.11 401.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 266.51 401.55 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 298.23 401.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 317.14 401.55 Td ($102.5 ) Tj ET Q
q 0 0 0 rg BT 348.59 401.55 Td (million, ) Tj ET Q
q 0 0 0 rg BT 384.12 401.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 395.44 401.55 Td (compared ) Tj ET Q
q 0 0 0 rg BT 439.41 401.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 450.15 401.55 Td (an ) Tj ET Q
q 0 0 0 rg BT 462.64 401.55 Td (income ) Tj ET Q
q 0 0 0 rg BT 496.12 401.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 511.52 401.55 Td (provision ) Tj ET Q
q 0 0 0 rg BT 553.76 401.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td ($84.2 ) Tj ET Q
q 0 0 0 rg BT 75.73 388.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 108.68 388.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 119.46 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 134.89 388.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 155.57 388.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 183.25 388.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 213.26 388.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 228.99 388.95 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 255.23 388.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 257.65 388.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 276.58 388.95 Td (ef) Tj ET Q
q 0 0 0 rg BT 284.55 388.95 Td (fective ) Tj ET Q
q 0 0 0 rg BT 315.72 388.95 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 347.48 388.95 Td (rate ) Tj ET Q
q 0 0 0 rg BT 365.82 388.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 384.76 388.95 Td (43.8% ) Tj ET Q
q 0 0 0 rg BT 414.49 388.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 429.34 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 444.78 388.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 465.46 388.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 493.14 388.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 523.15 388.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 538.88 388.95 Td (2018, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 61.08 376.35 Td (compared ) Tj ET Q
q 0 0 0 rg BT 105.32 376.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 116.32 376.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 129.07 376.35 Td (ef) Tj ET Q
q 0 0 0 rg BT 137.03 376.35 Td (fective ) Tj ET Q
q 0 0 0 rg BT 168.43 376.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 184.10 376.35 Td (rate ) Tj ET Q
q 0 0 0 rg BT 202.67 376.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 214.25 376.35 Td (22.7% ) Tj ET Q
q 0 0 0 rg BT 244.21 376.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 259.29 376.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 274.96 376.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 295.86 376.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 323.77 376.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 354.01 376.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 369.97 376.35 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 396.43 376.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 398.64 376.35 Td (As ) Tj ET Q
q 0 0 0 rg BT 413.15 376.35 Td (previously ) Tj ET Q
q 0 0 0 rg BT 460.31 376.35 Td (discussed, ) Tj ET Q
q 0 0 0 rg BT 506.02 376.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 519.36 376.35 Td (December ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (22, ) Tj ET Q
q 0 0 0 rg BT 65.42 363.75 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 91.84 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 107.26 363.75 Td (T) Tj ET Q
q 0 0 0 rg BT 112.94 363.75 Td (ax ) Tj ET Q
q 0 0 0 rg BT 125.65 363.75 Td (Law ) Tj ET Q
q 0 0 0 rg BT 147.10 363.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 166.22 363.75 Td (enacted. ) Tj ET Q
q 0 0 0 rg BT 203.70 363.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 206.29 363.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 225.41 363.75 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 267.86 363.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 278.82 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 294.44 363.75 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 315.91 363.75 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 358.35 363.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 373.97 363.75 Td (rate, ) Tj ET Q
q 0 0 0 rg BT 395.13 363.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 406.67 363.75 Td (well ) Tj ET Q
q 0 0 0 rg BT 427.54 363.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 439.08 363.75 Td (other ) Tj ET Q
q 0 0 0 rg BT 463.45 363.75 Td (aspects ) Tj ET Q
q 0 0 0 rg BT 496.57 363.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 508.11 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 523.53 363.75 Td (T) Tj ET Q
q 0 0 0 rg BT 529.21 363.75 Td (ax ) Tj ET Q
q 0 0 0 rg BT 541.92 363.75 Td (Law) Tj ET Q
q 0 0 0 rg BT 559.89 363.75 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 85.83 351.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 97.10 351.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 104.85 351.15 Td (one-time, ) Tj ET Q
q 0 0 0 rg BT 147.89 351.15 Td (non-cash ) Tj ET Q
q 0 0 0 rg BT 188.89 351.15 Td (provisional ) Tj ET Q
q 0 0 0 rg BT 239.23 351.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 255.15 351.15 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 287.40 351.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 299.24 351.15 Td ($220.9 ) Tj ET Q
q 0 0 0 rg BT 331.21 351.15 Td (million, ) Tj ET Q
q 0 0 0 rg BT 367.26 351.15 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 409.43 351.15 Td (due ) Tj ET Q
q 0 0 0 rg BT 427.69 351.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 438.95 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 454.87 351.15 Td (remeasurement ) Tj ET Q
q 0 0 0 rg BT 522.10 351.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 533.94 351.15 Td (certain ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (existing ) Tj ET Q
q 0 0 0 rg BT 84.91 338.55 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 122.04 338.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 137.03 338.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 163.69 338.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 181.01 338.55 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 222.25 338.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 231.99 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 246.98 338.55 Td (new ) Tj ET Q
q 0 0 0 rg BT 266.64 338.55 Td (21% ) Tj ET Q
q 0 0 0 rg BT 288.05 338.55 Td (income ) Tj ET Q
q 0 0 0 rg BT 321.11 338.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 336.10 338.55 Td (rate. ) Tj ET Q
q 0 0 0 rg BT 356.62 338.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 358.79 338.55 Td (In ) Tj ET Q
q 0 0 0 rg BT 369.69 338.55 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 408.89 338.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 415.71 338.55 Td (non-cash ) Tj ET Q
q 0 0 0 rg BT 455.78 338.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 470.77 338.55 Td (char) Tj ET Q
q 0 0 0 rg BT 488.65 338.55 Td (ge ) Tj ET Q
q 0 0 0 rg BT 500.72 338.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 511.63 338.55 Td ($7.3 ) Tj ET Q
q 0 0 0 rg BT 532.16 338.55 Td (million ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 68.12 325.95 Td (provisionally ) Tj ET Q
q 0 0 0 rg BT 125.83 325.95 Td (provided ) Tj ET Q
q 0 0 0 rg BT 165.45 325.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 179.98 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 195.10 325.95 Td (deemed ) Tj ET Q
q 0 0 0 rg BT 230.05 325.95 Td (repatriation ) Tj ET Q
q 0 0 0 rg BT 280.73 325.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 291.77 325.95 Td (unremitted ) Tj ET Q
q 0 0 0 rg BT 339.56 325.95 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 372.17 325.95 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 410.03 325.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 421.07 325.95 Td (provided ) Tj ET Q
q 0 0 0 rg BT 460.69 325.95 Td (under ) Tj ET Q
q 0 0 0 rg BT 486.89 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 501.85 325.95 Td (T) Tj ET Q
q 0 0 0 rg BT 507.53 325.95 Td (ax ) Tj ET Q
q 0 0 0 rg BT 519.73 325.95 Td (Law) Tj ET Q
q 0 0 0 rg BT 537.71 325.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 542.63 325.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 544.41 325.95 Td (Any ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 65.33 313.35 Td (provision ) Tj ET Q
q 0 0 0 rg BT 108.01 313.35 Td (associated ) Tj ET Q
q 0 0 0 rg BT 154.17 313.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 175.84 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 191.68 313.35 Td (repatriations ) Tj ET Q
q 0 0 0 rg BT 247.17 313.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 266.50 313.35 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 304.50 313.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 315.68 313.35 Td (reflect ) Tj ET Q
q 0 0 0 rg BT 345.49 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 361.33 313.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 392.91 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 404.66 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 420.28 313.35 Td (T) Tj ET Q
q 0 0 0 rg BT 425.96 313.35 Td (ax ) Tj ET Q
q 0 0 0 rg BT 438.88 313.35 Td (Law) Tj ET Q
q 0 0 0 rg BT 456.85 313.35 Td (. ) Tj ET Q
q 0 0 0 rg BT 462.49 313.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 464.83 313.35 Td (As ) Tj ET Q
q 0 0 0 rg BT 479.51 313.35 Td (further ) Tj ET Q
q 0 0 0 rg BT 511.08 313.35 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 554.33 313.35 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (Note ) Tj ET Q
q 0 0 0 rg BT 72.12 300.75 Td (7 ) Tj ET Q
q 0 0 0 rg BT 79.58 300.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 90.53 300.75 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 117.23 300.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 127.61 300.75 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 185.23 300.75 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 226.51 300.75 Td (Statements, ) Tj ET Q
q 0 0 0 rg BT 277.42 300.75 Td (we ) Tj ET Q
q 0 0 0 rg BT 291.87 300.75 Td (continue ) Tj ET Q
q 0 0 0 rg BT 330.23 300.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 340.61 300.75 Td (evaluate ) Tj ET Q
q 0 0 0 rg BT 377.79 300.75 Td (various ) Tj ET Q
q 0 0 0 rg BT 410.91 300.75 Td (aspects ) Tj ET Q
q 0 0 0 rg BT 443.44 300.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 454.39 300.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 469.43 300.75 Td (impact ) Tj ET Q
q 0 0 0 rg BT 500.21 300.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 511.16 300.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 526.04 300.75 Td (T) Tj ET Q
q 0 0 0 rg BT 531.72 300.75 Td (ax ) Tj ET Q
q 0 0 0 rg BT 543.84 300.75 Td (Law ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 63.74 288.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 87.31 288.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 117.89 288.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 135.05 288.15 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 187.21 288.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 197.38 288.15 Td (these ) Tj ET Q
q 0 0 0 rg BT 220.95 288.15 Td (provisional ) Tj ET Q
q 0 0 0 rg BT 270.19 288.15 Td (items ) Tj ET Q
q 0 0 0 rg BT 294.94 288.15 Td (may ) Tj ET Q
q 0 0 0 rg BT 315.01 288.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 326.92 288.15 Td (made ) Tj ET Q
q 0 0 0 rg BT 351.66 288.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 361.82 288.15 Td (subsequent ) Tj ET Q
q 0 0 0 rg BT 410.48 288.15 Td (periods ) Tj ET Q
q 0 0 0 rg BT 443.39 288.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 454.13 288.15 Td (more ) Tj ET Q
q 0 0 0 rg BT 477.70 288.15 Td (detailed ) Tj ET Q
q 0 0 0 rg BT 512.94 288.15 Td (information ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.29 275.55 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 107.81 275.55 Td (is ) Tj ET Q
q 0 0 0 rg BT 117.44 275.55 Td (obtained ) Tj ET Q
q 0 0 0 rg BT 156.22 275.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 174.01 275.55 Td (analyzed. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 252.95 Td (Also, ) Tj ET Q
q 0 0 0 rg BT 75.49 252.95 Td (during ) Tj ET Q
q 0 0 0 rg BT 106.44 252.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 122.80 252.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 144.40 252.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 173.00 252.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 203.94 252.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 220.59 252.95 Td (2018, ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 247.75 252.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 263.33 252.95 Td (ef) Tj ET Q
q 0 0 0 rg BT 270.92 252.95 Td (fective ) Tj ET Q
q 0 0 0 rg BT 301.48 252.95 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 332.61 252.95 Td (rate ) Tj ET Q
q 0 0 0 rg BT 350.96 252.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 369.87 252.95 Td (impacted ) Tj ET Q
q 0 0 0 rg BT 409.89 252.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 423.25 252.95 Td (9.7 ) Tj ET Q
q 0 0 0 rg BT 439.11 252.95 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 485.78 252.95 Td (points ) Tj ET Q
q 0 0 0 rg BT 513.59 252.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 528.61 252.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 544.19 252.95 Td (non-) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 49.50 240.95 Td (deductibility ) Tj ET Q
q 0 0 0 rg BT 104.02 240.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 116.31 240.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 132.50 240.95 Td (char) Tj ET Q
q 0 0 0 rg BT 149.53 240.95 Td (ge ) Tj ET Q
q 0 0 0 rg BT 162.93 240.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 178.56 240.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 194.75 240.95 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 239.81 240.95 Td (matter ) Tj ET Q
q 0 0 0 rg BT 269.32 240.95 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 311.62 240.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 323.37 240.95 Td (Subsequent ) Tj ET Q
q 0 0 0 rg BT 373.44 240.95 Td (Event, ) Tj ET Q
q 0 0 0 rg BT 403.24 240.95 Td (Note ) Tj ET Q
q 0 0 0 rg BT 426.65 240.95 Td (18 ) Tj ET Q
q 0 0 0 rg BT 440.61 240.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 452.36 240.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 468.55 240.95 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 525.29 240.95 Td (Financial ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 49.50 228.35 Td (Statements. ) Tj ET Q
q 0 0 0 rg BT 98.48 228.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 101.08 228.35 Td (In ) Tj ET Q
q 0 0 0 rg BT 112.01 228.35 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 149.88 228.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 164.14 228.35 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 188.40 228.35 Td (2018, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 213.49 228.35 Td (changes ) Tj ET Q
q 0 0 0 rg BT 250.04 228.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 260.94 228.35 Td (state ) Tj ET Q
q 0 0 0 rg BT 282.91 228.35 Td (apportionment ) Tj ET Q
q 0 0 0 rg BT 346.88 228.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 364.77 228.35 Td (state ) Tj ET Q
q 0 0 0 rg BT 386.74 228.35 Td (laws, ) Tj ET Q
q 0 0 0 rg BT 411.34 228.35 Td (audit ) Tj ET Q
q 0 0 0 rg BT 435.06 228.35 Td (settlements, ) Tj ET Q
q 0 0 0 rg BT 487.66 228.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 505.55 228.35 Td (other ) Tj ET Q
q 0 0 0 rg BT 529.85 228.35 Td (discrete ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 215.75 Td (changes ) Tj ET Q
q 0 0 0 rg BT 86.64 215.75 Td (impacting ) Tj ET Q
q 0 0 0 rg BT 131.94 215.75 Td (state ) Tj ET Q
q 0 0 0 rg BT 154.50 215.75 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 192.79 215.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 208.94 215.75 Td (liabilities ) Tj ET Q
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q 0 0 0 rg BT 287.89 215.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 299.38 215.75 Td (additional ) Tj ET Q
q 0 0 0 rg BT 344.69 215.75 Td (net ) Tj ET Q
q 0 0 0 rg BT 360.83 215.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 376.98 215.75 Td (expense ) Tj ET Q
q 0 0 0 rg BT 414.11 215.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 426.18 215.75 Td ($3.3 ) Tj ET Q
q 0 0 0 rg BT 447.87 215.75 Td (million, ) Tj ET Q
q 0 0 0 rg BT 484.15 215.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 513.13 215.75 Td (reduced ) Tj ET Q
q 0 0 0 rg BT 549.67 215.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 203.15 Td (ef) Tj ET Q
q 0 0 0 rg BT 57.47 203.15 Td (fective ) Tj ET Q
q 0 0 0 rg BT 87.87 203.15 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 118.87 203.15 Td (rate ) Tj ET Q
q 0 0 0 rg BT 136.44 203.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 148.79 203.15 Td (1.1 ) Tj ET Q
q 0 0 0 rg BT 163.75 203.15 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 211.06 203.15 Td (points ) Tj ET Q
q 0 0 0 rg BT 238.58 203.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 252.66 203.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 267.33 203.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 287.24 203.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 314.15 203.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 343.40 203.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 358.37 203.15 Td (2018. ) Tj ET Q
q 0 0 0 rg BT 383.83 203.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 385.67 203.15 Td (Further) Tj ET Q
q 0 0 0 rg BT 416.17 203.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 420.63 203.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 427.13 203.15 Td ($0.8 ) Tj ET Q
q 0 0 0 rg BT 447.35 203.15 Td (million ) Tj ET Q
q 0 0 0 rg BT 479.53 203.15 Td (discrete ) Tj ET Q
q 0 0 0 rg BT 514.02 203.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 528.69 203.15 Td (expense ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 190.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 67.64 190.55 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 115.50 190.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 135.98 190.55 Td (respect ) Tj ET Q
q 0 0 0 rg BT 167.52 190.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 177.50 190.55 Td (equity-based ) Tj ET Q
q 0 0 0 rg BT 232.96 190.55 Td (compensation, ) Tj ET Q
q 0 0 0 rg BT 295.71 190.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 323.18 190.55 Td (reduced ) Tj ET Q
q 0 0 0 rg BT 358.22 190.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 372.85 190.55 Td (ef) Tj ET Q
q 0 0 0 rg BT 380.82 190.55 Td (fective ) Tj ET Q
q 0 0 0 rg BT 411.19 190.55 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 442.16 190.55 Td (rate ) Tj ET Q
q 0 0 0 rg BT 459.70 190.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 472.01 190.55 Td (0.3 ) Tj ET Q
q 0 0 0 rg BT 486.94 190.55 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 534.22 190.55 Td (points.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 167.95 Td (For ) Tj ET Q
q 0 0 0 rg BT 66.95 167.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 82.64 167.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 103.57 167.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 131.51 167.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 161.77 167.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 177.76 167.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 204.25 167.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 219.94 167.95 Td (provision ) Tj ET Q
q 0 0 0 rg BT 262.47 167.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 277.58 167.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 311.35 167.95 Td (taxes ) Tj ET Q
q 0 0 0 rg BT 335.79 167.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 354.98 167.95 Td ($84.2 ) Tj ET Q
q 0 0 0 rg BT 381.47 167.95 Td (million, ) Tj ET Q
q 0 0 0 rg BT 417.30 167.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 428.91 167.95 Td (compared ) Tj ET Q
q 0 0 0 rg BT 473.17 167.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 484.20 167.95 Td ($7.7 ) Tj ET Q
q 0 0 0 rg BT 505.43 167.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 538.63 167.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 549.67 167.95 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 155.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 70.12 155.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 97.75 155.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 127.71 155.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 143.39 155.35 Td (2016. ) Tj ET Q
q 0 0 0 rg BT 169.57 155.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 171.94 155.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 190.82 155.35 Td (ef) Tj ET Q
q 0 0 0 rg BT 198.79 155.35 Td (fective ) Tj ET Q
q 0 0 0 rg BT 229.91 155.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 245.29 155.35 Td (rate ) Tj ET Q
q 0 0 0 rg BT 263.58 155.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 282.47 155.35 Td (22.7% ) Tj ET Q
q 0 0 0 rg BT 312.15 155.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 326.95 155.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 342.33 155.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 362.95 155.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 390.58 155.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 420.54 155.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 436.22 155.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 462.40 155.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 473.71 155.35 Td (compared ) Tj ET Q
q 0 0 0 rg BT 517.66 155.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 528.38 155.35 Td (\(30.5\)% ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 142.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 64.15 142.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 79.39 142.75 Td (year ) Tj ET Q
q 0 0 0 rg BT 99.87 142.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 127.35 142.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 157.17 142.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 172.71 142.75 Td (2016. ) Tj ET Q
q 0 0 0 rg BT 198.74 142.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 200.98 142.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 219.72 142.75 Td (change ) Tj ET Q
q 0 0 0 rg BT 251.86 142.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 262.44 142.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 277.68 142.75 Td (ef) Tj ET Q
q 0 0 0 rg BT 285.64 142.75 Td (fective ) Tj ET Q
q 0 0 0 rg BT 316.62 142.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 331.86 142.75 Td (rate ) Tj ET Q
q 0 0 0 rg BT 350.00 142.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 368.75 142.75 Td (lar) Tj ET Q
q 0 0 0 rg BT 379.63 142.75 Td (gely ) Tj ET Q
q 0 0 0 rg BT 400.12 142.75 Td (due ) Tj ET Q
q 0 0 0 rg BT 417.69 142.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 428.27 142.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 443.51 142.75 Td (impact ) Tj ET Q
q 0 0 0 rg BT 474.49 142.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 485.65 142.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 500.89 142.75 Td ($371.0 ) Tj ET Q
q 0 0 0 rg BT 532.18 142.75 Td (million ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 130.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.67 130.15 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 113.49 130.15 Td (char) Tj ET Q
q 0 0 0 rg BT 131.37 130.15 Td (ges ) Tj ET Q
q 0 0 0 rg BT 148.79 130.15 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 198.26 130.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 209.85 130.15 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 236.01 130.15 Td (2016 ) Tj ET Q
q 0 0 0 rg BT 260.43 130.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 272.02 130.15 Td (lower ) Tj ET Q
q 0 0 0 rg BT 299.35 130.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 315.59 130.15 Td (rate ) Tj ET Q
q 0 0 0 rg BT 334.75 130.15 Td (jurisdictions. ) Tj ET Q
q 0 0 0 rg BT 392.71 130.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 395.38 130.15 Td (Also, ) Tj ET Q
q 0 0 0 rg BT 421.26 130.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 432.85 130.15 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 459.00 130.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 486.05 130.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 498.22 130.15 Td (part ) Tj ET Q
q 0 0 0 rg BT 517.96 130.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 530.13 130.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 538.21 130.15 Td (lar) Tj ET Q
q 0 0 0 rg BT 549.09 130.15 Td (ger ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 117.55 Td (strategic ) Tj ET Q
q 0 0 0 rg BT 87.86 117.55 Td (initiative, ) Tj ET Q
q 0 0 0 rg BT 130.61 117.55 Td (we ) Tj ET Q
q 0 0 0 rg BT 145.65 117.55 Td (restructured ) Tj ET Q
q 0 0 0 rg BT 198.59 117.55 Td (certain ) Tj ET Q
q 0 0 0 rg BT 229.95 117.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 241.49 117.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 258.28 117.55 Td (holding ) Tj ET Q
q 0 0 0 rg BT 293.16 117.55 Td (company ) Tj ET Q
q 0 0 0 rg BT 334.44 117.55 Td (businesses, ) Tj ET Q
q 0 0 0 rg BT 384.20 117.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 412.66 117.55 Td (increased ) Tj ET Q
q 0 0 0 rg BT 455.09 117.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 470.72 117.55 Td (amount ) Tj ET Q
q 0 0 0 rg BT 505.01 117.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 516.55 117.55 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 549.67 117.55 Td (tax ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 104.95 Td (credits ) Tj ET Q
q 0 0 0 rg BT 80.55 104.95 Td (available ) Tj ET Q
q 0 0 0 rg BT 121.50 104.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 136.80 104.95 Td (utilization ) Tj ET Q
q 0 0 0 rg BT 182.43 104.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 200.65 104.95 Td (reduced ) Tj ET Q
q 0 0 0 rg BT 236.94 104.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 252.82 104.95 Td (ef) Tj ET Q
q 0 0 0 rg BT 260.79 104.95 Td (fective ) Tj ET Q
q 0 0 0 rg BT 292.41 104.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 308.29 104.95 Td (rate ) Tj ET Q
q 0 0 0 rg BT 327.09 104.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 340.64 104.95 Td (5.0 ) Tj ET Q
q 0 0 0 rg BT 356.83 104.95 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 405.35 104.95 Td (points. ) Tj ET Q
q 0 0 0 rg BT 436.70 104.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 439.76 104.95 Td (In ) Tj ET Q
q 0 0 0 rg BT 451.56 104.95 Td (September ) Tj ET Q
q 0 0 0 rg BT 499.53 104.95 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 526.21 104.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 542.09 104.95 Td (U.K. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 92.35 Td (Finance ) Tj ET Q
q 0 0 0 rg BT 84.49 92.35 Td (Act ) Tj ET Q
q 0 0 0 rg BT 101.89 92.35 Td (2016 ) Tj ET Q
q 0 0 0 rg BT 125.14 92.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 143.71 92.35 Td (enacted, ) Tj ET Q
q 0 0 0 rg BT 180.64 92.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 208.55 92.35 Td (further ) Tj ET Q
q 0 0 0 rg BT 239.36 92.35 Td (reduced ) Tj ET Q
q 0 0 0 rg BT 274.83 92.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 289.90 92.35 Td (main ) Tj ET Q
q 0 0 0 rg BT 313.14 92.35 Td (U.K. ) Tj ET Q
q 0 0 0 rg BT 335.80 92.35 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 377.69 92.35 Td (tax ) Tj ET Q
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q 0 0 0 rg BT 510.18 542.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 526.72 542.75 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 553.76 542.75 Td (as ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 530.15 Td (compared ) Tj ET Q
q 0 0 0 rg BT 93.10 530.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 103.48 530.15 Td ($75.1 ) Tj ET Q
q 0 0 0 rg BT 129.31 530.15 Td (million, ) Tj ET Q
q 0 0 0 rg BT 164.48 530.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 175.43 530.15 Td ($0.48 ) Tj ET Q
q 0 0 0 rg BT 201.26 530.15 Td (per ) Tj ET Q
q 0 0 0 rg BT 216.88 530.15 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 248.25 530.15 Td (share, ) Tj ET Q
q 0 0 0 rg BT 275.24 530.15 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 323.50 530.15 Td (during ) Tj ET Q
q 0 0 0 rg BT 353.12 530.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 368.16 530.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 388.43 530.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 415.71 530.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 445.32 530.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 460.65 530.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 486.48 530.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 503.85 530.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 518.89 530.15 Td (net ) Tj ET Q
q 0 0 0 rg BT 533.92 530.15 Td (impact ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 517.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.73 517.55 Td (increased ) Tj ET Q
q 0 0 0 rg BT 102.86 517.55 Td (operating ) Tj ET Q
q 0 0 0 rg BT 145.00 517.55 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 184.80 517.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 195.46 517.55 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 220.69 517.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 246.80 517.55 Td (including ) Tj ET Q
q 0 0 0 rg BT 288.95 517.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 296.09 517.55 Td ($71.5 ) Tj ET Q
q 0 0 0 rg BT 322.21 517.55 Td (million ) Tj ET Q
q 0 0 0 rg BT 355.03 517.55 Td (increase ) Tj ET Q
q 0 0 0 rg BT 391.91 517.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 402.56 517.55 Td (performance ) Tj ET Q
q 0 0 0 rg BT 458.10 517.55 Td (fees ) Tj ET Q
q 0 0 0 rg BT 477.49 517.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 495.72 517.55 Td (were ) Tj ET Q
q 0 0 0 rg BT 518.61 517.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 534.52 517.55 Td (passed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 504.95 Td (through ) Tj ET Q
q 0 0 0 rg BT 84.68 504.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 95.94 504.95 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 156.77 504.95 Td (expense, ) Tj ET Q
q 0 0 0 rg BT 195.72 504.95 Td (also ) Tj ET Q
q 0 0 0 rg BT 215.15 504.95 Td (contributed ) Tj ET Q
q 0 0 0 rg BT 265.48 504.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 276.16 504.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 291.50 504.95 Td (increase. ) Tj ET Q
q 0 0 0 rg BT 331.03 504.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 333.36 504.95 Td (These ) Tj ET Q
q 0 0 0 rg BT 360.95 504.95 Td (increases ) Tj ET Q
q 0 0 0 rg BT 401.94 504.95 Td (were ) Tj ET Q
q 0 0 0 rg BT 424.85 504.95 Td (of) Tj ET Q
q 0 0 0 rg BT 433.41 504.95 Td (fset ) Tj ET Q
q 0 0 0 rg BT 451.08 504.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 461.76 504.95 Td (part ) Tj ET Q
q 0 0 0 rg BT 480.60 504.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 493.61 504.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 500.79 504.95 Td ($194.0 ) Tj ET Q
q 0 0 0 rg BT 532.17 504.95 Td (million ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 492.35 Td (increase ) Tj ET Q
q 0 0 0 rg BT 85.85 492.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 95.98 492.35 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 146.35 492.35 Td (char) Tj ET Q
q 0 0 0 rg BT 164.23 492.35 Td (ges, ) Tj ET Q
q 0 0 0 rg BT 182.81 492.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 203.44 492.35 Td ($229.0 ) Tj ET Q
q 0 0 0 rg BT 234.27 492.35 Td (million, ) Tj ET Q
q 0 0 0 rg BT 269.20 492.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 279.91 492.35 Td ($1.96 ) Tj ET Q
q 0 0 0 rg BT 305.49 492.35 Td (per ) Tj ET Q
q 0 0 0 rg BT 320.86 492.35 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 351.98 492.35 Td (share, ) Tj ET Q
q 0 0 0 rg BT 378.72 492.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 389.43 492.35 Td (such ) Tj ET Q
q 0 0 0 rg BT 410.64 492.35 Td (char) Tj ET Q
q 0 0 0 rg BT 428.52 492.35 Td (ges ) Tj ET Q
q 0 0 0 rg BT 444.48 492.35 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 492.49 492.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 502.62 492.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 517.41 492.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 537.44 492.35 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 479.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 80.11 479.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 96.45 479.75 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 123.28 479.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 135.23 479.75 Td (compared ) Tj ET Q
q 0 0 0 rg BT 179.84 479.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 191.21 479.75 Td ($35.0 ) Tj ET Q
q 0 0 0 rg BT 218.05 479.75 Td (million, ) Tj ET Q
q 0 0 0 rg BT 254.22 479.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 266.17 479.75 Td ($0.26 ) Tj ET Q
q 0 0 0 rg BT 293.00 479.75 Td (per ) Tj ET Q
q 0 0 0 rg BT 309.62 479.75 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 341.99 479.75 Td (share, ) Tj ET Q
q 0 0 0 rg BT 369.98 479.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 381.93 479.75 Td (such ) Tj ET Q
q 0 0 0 rg BT 404.39 479.75 Td (char) Tj ET Q
q 0 0 0 rg BT 422.27 479.75 Td (ges ) Tj ET Q
q 0 0 0 rg BT 439.47 479.75 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 488.74 479.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 500.11 479.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 516.15 479.75 Td (year ) Tj ET Q
q 0 0 0 rg BT 537.42 479.75 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 467.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 79.00 467.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 94.23 467.15 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 119.95 467.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 121.90 467.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 140.33 467.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 160.49 467.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 187.66 467.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 217.17 467.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 232.39 467.15 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 255.49 467.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 273.92 467.15 Td (also ) Tj ET Q
q 0 0 0 rg BT 292.94 467.15 Td (impacted ) Tj ET Q
q 0 0 0 rg BT 333.52 467.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 346.12 467.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 352.88 467.15 Td (char) Tj ET Q
q 0 0 0 rg BT 370.76 467.15 Td (ge ) Tj ET Q
q 0 0 0 rg BT 382.77 467.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 393.61 467.15 Td ($67.0 ) Tj ET Q
q 0 0 0 rg BT 419.34 467.15 Td (million, ) Tj ET Q
q 0 0 0 rg BT 454.40 467.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 465.25 467.15 Td ($0.71 ) Tj ET Q
q 0 0 0 rg BT 490.97 467.15 Td (per ) Tj ET Q
q 0 0 0 rg BT 506.48 467.15 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 537.74 467.15 Td (share, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 454.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 63.56 454.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 78.21 454.55 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 123.17 454.55 Td (matter ) Tj ET Q
q 0 0 0 rg BT 151.81 454.55 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 193.88 454.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 203.86 454.55 Td (Subsequent ) Tj ET Q
q 0 0 0 rg BT 254.09 454.55 Td (Event, ) Tj ET Q
q 0 0 0 rg BT 283.03 454.55 Td (Note ) Tj ET Q
q 0 0 0 rg BT 305.26 454.55 Td (18 ) Tj ET Q
q 0 0 0 rg BT 317.57 454.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 328.14 454.55 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 354.45 454.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 364.44 454.55 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 421.67 454.55 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 462.56 454.55 Td (Statements. ) Tj ET Q
q 0 0 0 rg BT 513.08 454.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 514.90 454.55 Td (In ) Tj ET Q
q 0 0 0 rg BT 525.46 454.55 Td (addition, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 441.95 Td (Net ) Tj ET Q
q 0 0 0 rg BT 66.57 441.95 Td (Income ) Tj ET Q
q 0 0 0 rg BT 99.54 441.95 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 152.19 441.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 162.27 441.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 185.75 441.95 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 218.87 441.95 Td (Inc. ) Tj ET Q
q 0 0 0 rg BT 236.81 441.95 Td (per ) Tj ET Q
q 0 0 0 rg BT 252.12 441.95 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 283.19 441.95 Td (share ) Tj ET Q
q 0 0 0 rg BT 307.26 441.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 321.41 441.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 336.15 441.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 356.12 441.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 383.10 441.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 412.42 441.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 427.45 441.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 452.98 441.95 Td (benefited ) Tj ET Q
q 0 0 0 rg BT 493.96 441.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 516.27 441.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 522.84 441.95 Td (reduction ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 429.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.55 429.35 Td (weighted-average ) Tj ET Q
q 0 0 0 rg BT 138.07 429.35 Td (shares ) Tj ET Q
q 0 0 0 rg BT 167.19 429.35 Td (outstanding ) Tj ET Q
q 0 0 0 rg BT 219.08 429.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 230.71 429.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 238.26 429.35 Td (result ) Tj ET Q
q 0 0 0 rg BT 264.48 429.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 276.11 429.35 Td (share ) Tj ET Q
q 0 0 0 rg BT 301.15 429.35 Td (repurchases. ) Tj ET Q
q 0 0 0 rg BT 356.22 429.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 359.11 429.35 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 403.98 429.35 Td (mar) Tj ET Q
q 0 0 0 rg BT 420.12 429.35 Td (gin ) Tj ET Q
q 0 0 0 rg BT 436.42 429.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 455.64 429.35 Td (10.3% ) Tj ET Q
q 0 0 0 rg BT 485.64 429.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 500.77 429.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 516.49 429.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 537.44 429.35 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 416.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 79.16 416.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 94.54 416.75 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 120.43 416.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 131.43 416.75 Td (compared ) Tj ET Q
q 0 0 0 rg BT 175.08 416.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 185.51 416.75 Td (14.6% ) Tj ET Q
q 0 0 0 rg BT 214.89 416.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 229.39 416.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 244.47 416.75 Td (year ) Tj ET Q
q 0 0 0 rg BT 264.80 416.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 292.13 416.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 321.79 416.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 337.17 416.75 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 363.05 416.75 Td (reflecting ) Tj ET Q
q 0 0 0 rg BT 405.54 416.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 420.62 416.75 Td (impact ) Tj ET Q
q 0 0 0 rg BT 451.46 416.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 462.46 416.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 477.54 416.75 Td (increase ) Tj ET Q
q 0 0 0 rg BT 514.19 416.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 524.62 416.75 Td (non-cash ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 404.15 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 100.53 404.15 Td (char) Tj ET Q
q 0 0 0 rg BT 118.41 404.15 Td (ges ) Tj ET Q
q 0 0 0 rg BT 135.03 404.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 152.82 404.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 168.27 404.15 Td (char) Tj ET Q
q 0 0 0 rg BT 186.15 404.15 Td (ge ) Tj ET Q
q 0 0 0 rg BT 198.68 404.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 213.55 404.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 220.84 404.15 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 266.61 404.15 Td (matter ) Tj ET Q
q 0 0 0 rg BT 296.06 404.15 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 338.93 404.15 Td (above.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 378.95 Td (Net ) Tj ET Q
q 0 0 0 rg BT 67.35 378.95 Td (Income ) Tj ET Q
q 0 0 0 rg BT 100.93 378.95 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 154.36 378.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 165.21 378.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 189.47 378.95 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 223.37 378.95 Td (Inc. ) Tj ET Q
q 0 0 0 rg BT 242.09 378.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 257.02 378.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 272.54 378.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 293.29 378.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 321.05 378.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 351.15 378.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 366.96 378.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 393.27 378.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 412.29 378.95 Td ($227.3 ) Tj ET Q
q 0 0 0 rg BT 443.85 378.95 Td (million, ) Tj ET Q
q 0 0 0 rg BT 479.50 378.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 490.94 378.95 Td ($2.18 ) Tj ET Q
q 0 0 0 rg BT 517.25 378.95 Td (per ) Tj ET Q
q 0 0 0 rg BT 533.35 378.95 Td (diluted ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 366.35 Td (share, ) Tj ET Q
q 0 0 0 rg BT 77.12 366.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 88.70 366.35 Td (compared ) Tj ET Q
q 0 0 0 rg BT 132.94 366.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 143.95 366.35 Td (Net ) Tj ET Q
q 0 0 0 rg BT 161.95 366.35 Td (Loss ) Tj ET Q
q 0 0 0 rg BT 184.00 366.35 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 237.57 366.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 248.58 366.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 272.99 366.35 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 307.04 366.35 Td (Inc. ) Tj ET Q
q 0 0 0 rg BT 325.91 366.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 337.50 366.35 Td ($25.0 ) Tj ET Q
q 0 0 0 rg BT 363.96 366.35 Td (million, ) Tj ET Q
q 0 0 0 rg BT 399.76 366.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 411.35 366.35 Td ($0.25 ) Tj ET Q
q 0 0 0 rg BT 437.81 366.35 Td (per ) Tj ET Q
q 0 0 0 rg BT 454.06 366.35 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 486.06 366.35 Td (share, ) Tj ET Q
q 0 0 0 rg BT 513.68 366.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 528.76 366.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 544.43 366.35 Td (year ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 353.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 77.58 353.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 107.98 353.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 124.11 353.75 Td (2016. ) Tj ET Q
q 0 0 0 rg BT 150.74 353.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 153.53 353.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 172.86 353.75 Td (change ) Tj ET Q
q 0 0 0 rg BT 205.60 353.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 224.93 353.75 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 267.01 353.75 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 317.83 353.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 329.00 353.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 344.83 353.75 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 396.24 353.75 Td (char) Tj ET Q
q 0 0 0 rg BT 414.12 353.75 Td (ges ) Tj ET Q
q 0 0 0 rg BT 431.12 353.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 442.87 353.75 Td ($371.0 ) Tj ET Q
q 0 0 0 rg BT 474.75 353.75 Td (million, ) Tj ET Q
q 0 0 0 rg BT 510.72 353.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 522.47 353.75 Td ($2.76 ) Tj ET Q
q 0 0 0 rg BT 549.10 353.75 Td (per ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 341.15 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 81.14 341.15 Td (share, ) Tj ET Q
q 0 0 0 rg BT 108.41 341.15 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 156.94 341.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 167.59 341.15 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 192.81 341.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 218.92 341.15 Td (incremental ) Tj ET Q
q 0 0 0 rg BT 270.96 341.15 Td (net ) Tj ET Q
q 0 0 0 rg BT 286.27 341.15 Td (income ) Tj ET Q
q 0 0 0 rg BT 319.66 341.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 350.70 341.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 361.35 341.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 376.66 341.15 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 429.31 341.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 440.53 341.15 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 474.51 341.15 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 511.40 341.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 529.04 341.15 Td (EnT) Tj ET Q
q 0 0 0 rg BT 546.75 341.15 Td (rust ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 328.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.56 328.55 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 86.19 328.55 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 112.71 328.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 128.43 328.55 Td (inclusion ) Tj ET Q
q 0 0 0 rg BT 169.82 328.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 181.46 328.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 189.01 328.55 Td (full ) Tj ET Q
q 0 0 0 rg BT 206.48 328.55 Td (year ) Tj ET Q
q 0 0 0 rg BT 227.44 328.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 239.08 328.55 Td (results ) Tj ET Q
q 0 0 0 rg BT 269.39 328.55 Td (from ) Tj ET Q
q 0 0 0 rg BT 292.69 328.55 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 323.58 328.55 Td (Infrastructure, ) Tj ET Q
q 0 0 0 rg BT 386.24 328.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 414.79 328.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 434.01 328.55 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 473.05 328.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 484.11 328.55 Td (October ) Tj ET Q
q 0 0 0 rg BT 520.82 328.55 Td (2015, ) Tj ET Q
q 0 0 0 rg BT 547.33 328.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 315.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.23 315.95 Td (pre-tax ) Tj ET Q
q 0 0 0 rg BT 97.86 315.95 Td (char) Tj ET Q
q 0 0 0 rg BT 115.74 315.95 Td (ge ) Tj ET Q
q 0 0 0 rg BT 128.55 315.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 140.20 315.95 Td ($21.4 ) Tj ET Q
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q 0 0 0 rg BT 210.13 741.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 221.74 741.75 Td (an ) Tj ET Q
q 0 0 0 rg BT 234.51 741.75 Td (approximate ) Tj ET Q
q 0 0 0 rg BT 289.86 741.75 Td (measure ) Tj ET Q
q 0 0 0 rg BT 327.70 741.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 339.31 741.75 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 379.49 741.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 398.09 741.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 413.77 741.75 Td (passed ) Tj ET Q
q 0 0 0 rg BT 444.63 741.75 Td (through ) Tj ET Q
q 0 0 0 rg BT 480.16 741.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 491.19 741.75 Td (third ) Tj ET Q
q 0 0 0 rg BT 513.88 741.75 Td (parties, ) Tj ET Q
q 0 0 0 rg BT 547.36 741.75 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 729.15 Td (less ) Tj ET Q
q 0 0 0 rg BT 67.97 729.15 Td (performance ) Tj ET Q
q 0 0 0 rg BT 123.75 729.15 Td (fees ) Tj ET Q
q 0 0 0 rg BT 143.37 729.15 Td (that ) Tj ET Q
q 0 0 0 rg BT 161.84 729.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 177.38 729.15 Td (passed ) Tj ET Q
q 0 0 0 rg BT 208.10 729.15 Td (through ) Tj ET Q
q 0 0 0 rg BT 243.49 729.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 254.96 729.15 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 316.00 729.15 Td (expense ) Tj ET Q
q 0 0 0 rg BT 352.54 729.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 364.01 729.15 Td (net ) Tj ET Q
q 0 0 0 rg BT 379.56 729.15 Td (income ) Tj ET Q
q 0 0 0 rg BT 413.19 729.15 Td (\(loss\) ) Tj ET Q
q 0 0 0 rg BT 439.24 729.15 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 489.78 729.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 500.67 729.15 Td (noncontrolling ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 716.55 Td (interests, ) Tj ET Q
q 0 0 0 rg BT 90.63 716.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 119.80 716.55 Td (we ) Tj ET Q
q 0 0 0 rg BT 135.56 716.55 Td (refer ) Tj ET Q
q 0 0 0 rg BT 158.88 716.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 170.56 716.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 182.81 716.55 Td ("Operating ) Tj ET Q
q 0 0 0 rg BT 232.60 716.55 Td (Revenues, ) Tj ET Q
q 0 0 0 rg BT 279.55 716.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 291.04 716.55 Td (Adjusted." ) Tj ET Q
q 0 0 0 rg BT 339.12 716.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 358.96 716.55 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 397.44 716.55 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 459.27 716.55 Td (items ) Tj ET Q
q 0 0 0 rg BT 485.53 716.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 501.86 716.55 Td (removed ) Tj ET Q
q 0 0 0 rg BT 542.10 716.55 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 703.95 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 94.47 703.95 Td (Income ) Tj ET Q
q 0 0 0 rg BT 128.95 703.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 140.10 703.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 155.92 703.95 Td (calculation ) Tj ET Q
q 0 0 0 rg BT 204.97 703.95 Td (because ) Tj ET Q
q 0 0 0 rg BT 241.19 703.95 Td (they ) Tj ET Q
q 0 0 0 rg BT 262.25 703.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 278.06 703.95 Td (of) Tj ET Q
q 0 0 0 rg BT 286.61 703.95 Td (fset ) Tj ET Q
q 0 0 0 rg BT 304.76 703.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 318.25 703.95 Td (an ) Tj ET Q
q 0 0 0 rg BT 331.15 703.95 Td (equal ) Tj ET Q
q 0 0 0 rg BT 356.88 703.95 Td (amount ) Tj ET Q
q 0 0 0 rg BT 391.36 703.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 402.51 703.95 Td (Non-operating ) Tj ET Q
q 0 0 0 rg BT 466.73 703.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 500.63 703.95 Td (\(expense\), ) Tj ET Q
q 0 0 0 rg BT 547.05 703.95 Td (net, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 691.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 66.72 691.35 Td (thus ) Tj ET Q
q 0 0 0 rg BT 86.28 691.35 Td (have ) Tj ET Q
q 0 0 0 rg BT 108.16 691.35 Td (no ) Tj ET Q
q 0 0 0 rg BT 120.72 691.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 151.36 691.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 163.92 691.35 Td (Net ) Tj ET Q
q 0 0 0 rg BT 181.14 691.35 Td (Income ) Tj ET Q
q 0 0 0 rg BT 214.68 691.35 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 243.12 691.35 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 295.92 691.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 306.14 691.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 329.78 691.35 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 363.05 691.35 Td (Inc. ) Tj ET Q
q 0 0 0 rg BT 380.99 691.35 Td (W) Tj ET Q
q 0 0 0 rg BT 390.06 691.35 Td (e ) Tj ET Q
q 0 0 0 rg BT 396.78 691.35 Td (adjust ) Tj ET Q
q 0 0 0 rg BT 423.92 691.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 438.22 691.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 453.11 691.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 483.74 691.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 494.55 691.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 509.44 691.35 Td (amortization ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.54 678.75 Td (management ) Tj ET Q
q 0 0 0 rg BT 116.48 678.75 Td (contract ) Tj ET Q
q 0 0 0 rg BT 152.59 678.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 179.38 678.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 196.84 678.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 211.96 678.75 Td (impact ) Tj ET Q
q 0 0 0 rg BT 242.83 678.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 253.87 678.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 270.73 678.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 295.77 678.75 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 348.23 678.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 359.27 678.75 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 405.88 678.75 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 464.75 678.75 Td (liabilities, ) Tj ET Q
q 0 0 0 rg BT 508.75 678.75 Td (if ) Tj ET Q
q 0 0 0 rg BT 517.45 678.75 Td (any) Tj ET Q
q 0 0 0 rg BT 531.93 678.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 536.85 678.75 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.15 Td (arise ) Tj ET Q
q 0 0 0 rg BT 71.53 666.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 94.15 666.15 Td (acquisitions ) Tj ET Q
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q 0 0 0 rg BT 156.89 666.15 Td (reflect ) Tj ET Q
q 0 0 0 rg BT 185.91 666.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 200.94 666.15 Td (fact ) Tj ET Q
q 0 0 0 rg BT 218.89 666.15 Td (that ) Tj ET Q
q 0 0 0 rg BT 236.84 666.15 Td (these ) Tj ET Q
q 0 0 0 rg BT 260.62 666.15 Td (items ) Tj ET Q
q 0 0 0 rg BT 285.58 666.15 Td (distort ) Tj ET Q
q 0 0 0 rg BT 314.62 666.15 Td (comparison ) Tj ET Q
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q 0 0 0 rg BT 434.83 666.15 Td (results ) Tj ET Q
q 0 0 0 rg BT 464.46 666.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 485.33 666.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 500.37 666.15 Td (results ) Tj ET Q
q 0 0 0 rg BT 529.99 666.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 540.94 666.15 Td (other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 653.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 72.40 653.55 Td (management ) Tj ET Q
q 0 0 0 rg BT 128.54 653.55 Td (firms ) Tj ET Q
q 0 0 0 rg BT 153.19 653.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 171.42 653.55 Td (have ) Tj ET Q
q 0 0 0 rg BT 193.73 653.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 209.64 653.55 Td (engaged ) Tj ET Q
q 0 0 0 rg BT 247.11 653.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 257.77 653.55 Td (significant ) Tj ET Q
q 0 0 0 rg BT 304.58 653.55 Td (acquisitions. ) Tj ET Q
q 0 0 0 rg BT 359.86 653.55 Td (Impairment ) Tj ET Q
q 0 0 0 rg BT 411.33 653.55 Td (char) Tj ET Q
q 0 0 0 rg BT 429.21 653.55 Td (ges, ) Tj ET Q
q 0 0 0 rg BT 448.32 653.55 Td (unusual ) Tj ET Q
q 0 0 0 rg BT 483.48 653.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 501.13 653.55 Td (other ) Tj ET Q
q 0 0 0 rg BT 525.19 653.55 Td (non-core ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 640.95 Td (char) Tj ET Q
q 0 0 0 rg BT 67.38 640.95 Td (ges ) Tj ET Q
q 0 0 0 rg BT 85.67 640.95 Td (\(including ) Tj ET Q
q 0 0 0 rg BT 133.12 640.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 150.25 640.95 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 197.69 640.95 Td (matter ) Tj ET Q
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q 0 0 0 rg BT 369.93 640.95 Td (Note ) Tj ET Q
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q 0 0 0 rg BT 463.72 640.95 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 523.43 640.95 Td (Financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.35 Td (Statements\), ) Tj ET Q
q 0 0 0 rg BT 104.27 628.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 122.00 628.35 Td (income ) Tj ET Q
q 0 0 0 rg BT 155.47 628.35 Td (\(loss\) ) Tj ET Q
q 0 0 0 rg BT 181.37 628.35 Td (of ) Tj ET Q
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q 0 0 0 rg BT 295.09 628.35 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 339.64 628.35 Td (Income ) Tj ET Q
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q 0 0 0 rg BT 384.43 628.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 399.82 628.35 Td (calculation ) Tj ET Q
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q 0 0 0 rg BT 484.25 628.35 Td (these ) Tj ET Q
q 0 0 0 rg BT 508.39 628.35 Td (items ) Tj ET Q
q 0 0 0 rg BT 533.71 628.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 549.09 628.35 Td (not ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.75 Td (reflective ) Tj ET Q
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q 0 0 0 rg BT 102.34 615.75 Td (our ) Tj ET Q
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q 0 0 0 rg BT 138.87 615.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 161.51 615.75 Td (management ) Tj ET Q
q 0 0 0 rg BT 217.38 615.75 Td (operations. ) Tj ET Q
q 0 0 0 rg BT 265.81 615.75 Td (W) Tj ET Q
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q 0 0 0 rg BT 281.77 615.75 Td (use ) Tj ET Q
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q 0 0 0 rg BT 342.21 615.75 Td (Revenues, ) Tj ET Q
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q 0 0 0 rg BT 525.28 615.75 Td (show ) Tj ET Q
q 0 0 0 rg BT 549.68 615.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (operating ) Tj ET Q
q 0 0 0 rg BT 91.89 603.15 Td (mar) Tj ET Q
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q 0 0 0 rg BT 159.01 603.15 Td (distribution ) Tj ET Q
q 0 0 0 rg BT 210.17 603.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 228.07 603.15 Td (servicing ) Tj ET Q
q 0 0 0 rg BT 269.30 603.15 Td (expenses, ) Tj ET Q
q 0 0 0 rg BT 312.57 603.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 340.97 603.15 Td (we ) Tj ET Q
q 0 0 0 rg BT 355.95 603.15 Td (use ) Tj ET Q
q 0 0 0 rg BT 372.69 603.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 383.59 603.15 Td (approximate ) Tj ET Q
q 0 0 0 rg BT 438.81 603.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 455.55 603.15 Td (distribution ) Tj ET Q
q 0 0 0 rg BT 506.71 603.15 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 546.76 603.15 Td (that ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (are ) Tj ET Q
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q 0 0 0 rg BT 237.58 590.55 Td (cost ) Tj ET Q
q 0 0 0 rg BT 256.86 590.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 267.98 590.55 Td (selling ) Tj ET Q
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q 0 0 0 rg BT 314.71 590.55 Td (products, ) Tj ET Q
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q 0 0 0 rg BT 544.42 590.55 Td (may ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (include ) Tj ET Q
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q 0 0 0 rg BT 159.46 577.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 169.68 577.95 Td (connection ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (performances ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 104.87 540.15 Td (the ) Tj ET Q
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q 0 0 0 rg BT 526.35 540.15 Td (advisory ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 320.07 527.55 Td (are ) Tj ET Q
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q 0 0 0 rg BT 452.46 527.55 Td (under ) Tj ET Q
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q 0 0 0 rg BT 506.41 527.55 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
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403.00 480.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 480.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
484.00 480.25 78.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 450.25 268.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
318.00 450.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
322.00 450.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.00 450.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 450.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 450.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
484.00 450.25 78.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 420.25 268.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
318.00 420.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
322.00 420.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.00 420.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 420.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 420.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
484.00 420.25 78.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 390.25 268.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
318.00 390.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
322.00 390.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.00 390.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 390.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 390.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
484.00 390.25 78.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 716.25 m
399 716.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
399 716.25 m
403 716.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 716.25 m
480 716.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
480 716.25 m
484 716.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
484 716.25 m
562 716.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 691.25 m
318 691.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 716.25 m
399 716.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 691.25 m
399 691.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 716.25 m
480 716.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 691.25 m
480 691.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
480 716.25 m
484 716.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
484 716.25 m
562 716.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
484 691.25 m
562 691.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 691.25 m
399 691.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 691.25 m
480 691.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
484 691.25 m
562 691.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 596.25 m
399 596.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 596.25 m
480 596.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
484 596.25 m
562 596.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 596.25 m
318 596.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 581.25 m
318 581.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 581.25 m
399 581.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 596.25 m
480 596.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 581.25 m
480 581.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
484 581.25 m
562 581.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 435.25 m
399 435.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 435.25 m
480 435.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
484 435.25 m
562 435.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 435.25 m
318 435.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 420.25 m
318 420.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 420.25 m
399 420.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 435.25 m
480 435.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 420.25 m
480 420.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
484 420.25 m
562 420.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 420.25 m
399 420.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 420.25 m
480 420.25 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 721.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 376.00 721.02 Td (For the ) Tj ET Q
q 0 0 0 rg BT 408.47 721.02 Td (Y) Tj ET Q
q 0 0 0 rg BT 415.33 721.02 Td (ears Ended March 31,) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 349.50 696.04 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 430.50 696.02 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 512.00 696.02 Td (2016) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 58.50 681.04 Td (Operating Revenues, GAAP) Tj ET Q
q 0 0 0 rg BT 184.50 681.04 Td ( basis) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 324.50 681.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 346.00 681.04 Td (3,140,322) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 405.50 681.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 428.75 681.02 Td (2,886,902) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 486.50 681.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 510.75 681.02 Td (2,660,844) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 70.50 666.02 Td (Plus \(less\):) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 476.50 666.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 666.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 651.02 Td (Pass-through performance fees) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 350.35 651.04 Td (\(108,757) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 388.00 651.04 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 438.35 651.02 Td (\(60,756) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.75 651.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.25 651.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 636.47 Td (Operating revenues eliminated upon consolidation of) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 625.97 Td (investment vehicles) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 372.25 626.04 Td (578) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 455.00 626.02 Td (529) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 537.00 626.02 Td (318) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 611.47 Td (Distribution and servicing expense, excluding) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 600.97 Td (consolidated investment vehicles) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 350.35 601.04 Td (\(489,310) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 388.00 601.04 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 433.10 601.02 Td (\(499,126) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.75 601.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 515.10 601.02 Td (\(545,668) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 552.75 601.02 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 58.50 586.04 Td (Operating Revenues, as ) Tj ET Q
q 0 0 0 rg BT 166.71 586.04 Td (Adjusted) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 324.50 586.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 346.00 586.04 Td (2,542,833) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 405.50 586.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 428.75 586.02 Td (2,327,549) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 486.50 586.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 510.75 586.02 Td (2,1) Tj ET Q
q 0 0 0 rg BT 523.88 586.02 Td (15,494) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 58.50 556.04 Td (Operating Income, GAAP) Tj ET Q
q 0 0 0 rg BT 175.16 556.04 Td ( basis) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 324.50 556.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 353.85 556.04 Td (324,001) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 405.50 556.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 436.60 556.02 Td (422,243) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 486.50 556.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.85 556.02 Td (50,831) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 70.50 541.02 Td (Plus \(less\):) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 476.50 541.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 541.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 525.52 Td (Gains \(losses\) on deferred compensation and seed) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 515.02 Td (investments, net) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 359.10 515.04 Td (12,345) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 441.85 515.02 Td (14,427) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 525.60 515.02 Td (\(1,205) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 552.75 515.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 500.02 Td (Impairment of intangible assets) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 353.85 500.04 Td (229,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 441.85 500.02 Td (35,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 518.60 500.02 Td (371,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 485.02 Td (Contingent consideration fair value adjustments) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 355.60 485.04 Td (\(31,329) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 388.00 485.04 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 438.35 485.02 Td (\(39,500) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.75 485.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 520.35 485.02 Td (\(33,375) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 552.75 485.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 470.02 Td (Amortization of intangible assets) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 359.10 470.04 Td (24,604) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 441.85 470.02 Td (26,190) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 470.02 Td (4,979) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 455.02 Td (Char) Tj ET Q
q 0 0 0 rg BT 96.72 455.02 Td (ge related to regulatory matter) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 359.10 455.04 Td (67,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 460.25 455.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.25 455.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 440.02 Td (Operating loss of consolidated investment vehicles, net) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 372.25 440.04 Td (877) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 455.00 440.02 Td (819) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 537.00 440.02 Td (461) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 58.50 425.04 Td (Operating Income, as ) Tj ET Q
q 0 0 0 rg BT 157.37 425.04 Td (Adjusted) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 324.50 425.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 353.85 425.04 Td (626,498) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 405.50 425.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 436.60 425.02 Td (459,179) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 486.50 425.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 518.60 425.02 Td (392,691) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 58.50 395.04 Td (Operating Margin, GAAP) Tj ET Q
q 0 0 0 rg BT 175.74 395.04 Td ( basis) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 369.60 395.04 Td (10.3) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 388.00 395.04 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 452.35 395.02 Td (14.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.75 395.02 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 539.60 395.02 Td (1.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 552.75 395.02 Td (%) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 58.50 380.04 Td (Operating Margin, as ) Tj ET Q
q 0 0 0 rg BT 157.67 380.04 Td (Adjusted) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 369.60 380.04 Td (24.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 452.35 380.02 Td (19.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 380.02 Td (18.6) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 95.36 351.15 Td (Mar) Tj ET Q
q 0 0 0 rg BT 112.66 351.15 Td (gin, ) Tj ET Q
q 0 0 0 rg BT 132.57 351.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 144.33 351.15 Td (Adjusted, ) Tj ET Q
q 0 0 0 rg BT 188.74 351.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 204.86 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 221.56 351.15 Td (years ) Tj ET Q
q 0 0 0 rg BT 247.58 351.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 276.52 351.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 307.79 351.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 324.79 351.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 352.28 351.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 379.78 351.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 398.81 351.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 426.30 351.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 446.50 351.15 Td (24.6%, ) Tj ET Q
q 0 0 0 rg BT 480.12 351.15 Td (19.7%, ) Tj ET Q
q 0 0 0 rg BT 513.73 351.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 532.77 351.15 Td (18.6%, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (respectively) Tj ET Q
q 0 0 0 rg BT 99.55 338.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 104.51 338.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 106.84 338.55 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 151.16 338.55 Td (Mar) Tj ET Q
q 0 0 0 rg BT 168.47 338.55 Td (gin, ) Tj ET Q
q 0 0 0 rg BT 186.85 338.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 197.41 338.55 Td (Adjusted, ) Tj ET Q
q 0 0 0 rg BT 240.29 338.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 254.87 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 270.03 338.55 Td (year ) Tj ET Q
q 0 0 0 rg BT 290.43 338.55 Td (ended ) Tj ET Q
q 0 0 0 rg BT 317.84 338.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 347.58 338.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 363.04 338.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 389.00 338.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 407.67 338.55 Td (reduced ) Tj ET Q
q 0 0 0 rg BT 443.23 338.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 456.07 338.55 Td (0.3 ) Tj ET Q
q 0 0 0 rg BT 471.53 338.55 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 519.33 338.55 Td (points ) Tj ET Q
q 0 0 0 rg BT 547.34 338.55 Td (due ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.29 325.95 Td (transition-related ) Tj ET Q
q 0 0 0 rg BT 134.64 325.95 Td (costs ) Tj ET Q
q 0 0 0 rg BT 158.27 325.95 Td (incurred ) Tj ET Q
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/GS0 gs
0.49 w
0 i 
[] 0 d
1 J
1 j
3 M
50 771.2669921875 m
120.9521484375 771.2669921875 l
s
q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q
q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q
BT /F1 10.00 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 300.75 31.25 Td (61) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 741.75 Td (addition ) Tj ET Q
q 0 0 0 rg BT 85.47 741.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 95.19 741.75 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 117.75 741.75 Td (provided ) Tj ET Q
q 0 0 0 rg BT 156.62 741.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 168.68 741.75 Td (operating ) Tj ET Q
q 0 0 0 rg BT 209.89 741.75 Td (activities ) Tj ET Q
q 0 0 0 rg BT 249.35 741.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 266.06 741.75 Td (may ) Tj ET Q
q 0 0 0 rg BT 285.70 741.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 300.67 741.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 312.13 741.75 Td (comparable ) Tj ET Q
q 0 0 0 rg BT 362.66 741.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 372.38 741.75 Td (non-GAAP) Tj ET Q
q 0 0 0 rg BT 419.83 741.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 421.38 741.75 Td (performance ) Tj ET Q
q 0 0 0 rg BT 475.99 741.75 Td (measures ) Tj ET Q
q 0 0 0 rg BT 516.61 741.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 526.91 741.75 Td (liquidity ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 729.15 Td (measures ) Tj ET Q
q 0 0 0 rg BT 91.48 729.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 103.14 729.15 Td (other ) Tj ET Q
q 0 0 0 rg BT 127.63 729.15 Td (companies, ) Tj ET Q
q 0 0 0 rg BT 178.08 729.15 Td (including ) Tj ET Q
q 0 0 0 rg BT 220.65 729.15 Td (their ) Tj ET Q
q 0 0 0 rg BT 242.81 729.15 Td (measures ) Tj ET Q
q 0 0 0 rg BT 284.79 729.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 296.46 729.15 Td (EBITDA) Tj ET Q
q 0 0 0 rg BT 334.37 729.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 337.28 729.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 348.30 729.15 Td (Adjusted ) Tj ET Q
q 0 0 0 rg BT 389.13 729.15 Td (EBITDA. ) Tj ET Q
q 0 0 0 rg BT 433.17 729.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 436.08 729.15 Td (Further) Tj ET Q
q 0 0 0 rg BT 466.57 729.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 472.11 729.15 Td (this ) Tj ET Q
q 0 0 0 rg BT 490.20 729.15 Td (measure ) Tj ET Q
q 0 0 0 rg BT 528.09 729.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 538.01 729.15 Td (not ) Tj ET Q
q 0 0 0 rg BT 554.34 729.15 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 716.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 62.58 716.55 Td (confused ) Tj ET Q
q 0 0 0 rg BT 103.64 716.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 125.48 716.55 Td (Net ) Tj ET Q
q 0 0 0 rg BT 143.80 716.55 Td (Income ) Tj ET Q
q 0 0 0 rg BT 178.45 716.55 Td (\(Loss\), ) Tj ET Q
q 0 0 0 rg BT 211.07 716.55 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 235.24 716.55 Td (provided ) Tj ET Q
q 0 0 0 rg BT 275.73 716.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 289.39 716.55 Td (operating ) Tj ET Q
q 0 0 0 rg BT 332.21 716.55 Td (activities, ) Tj ET Q
q 0 0 0 rg BT 375.90 716.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 387.81 716.55 Td (other ) Tj ET Q
q 0 0 0 rg BT 412.55 716.55 Td (measures ) Tj ET Q
q 0 0 0 rg BT 454.79 716.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 466.70 716.55 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 505.43 716.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 517.35 716.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 539.17 716.55 Td (flows ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 703.95 Td (under ) Tj ET Q
q 0 0 0 rg BT 76.03 703.95 Td (GAAP) Tj ET Q
q 0 0 0 rg BT 103.46 703.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 108.71 703.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 126.49 703.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 141.94 703.95 Td (provided ) Tj ET Q
q 0 0 0 rg BT 181.89 703.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 193.26 703.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 200.54 703.95 Td (supplement ) Tj ET Q
q 0 0 0 rg BT 251.58 703.95 Td (to, ) Tj ET Q
q 0 0 0 rg BT 265.00 703.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 282.78 703.95 Td (not ) Tj ET Q
q 0 0 0 rg BT 298.82 703.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 309.62 703.95 Td (replacement ) Tj ET Q
q 0 0 0 rg BT 363.54 703.95 Td (of, ) Tj ET Q
q 0 0 0 rg BT 377.54 703.95 Td (GAAP) Tj ET Q
q 0 0 0 rg BT 405.74 703.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 408.36 703.95 Td (measures.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.45 678.75 Td (calculation ) Tj ET Q
q 0 0 0 rg BT 117.14 678.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 127.93 678.75 Td (Adjusted ) Tj ET Q
q 0 0 0 rg BT 168.47 678.75 Td (EBITDA) Tj ET Q
q 0 0 0 rg BT 206.38 678.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 209.01 678.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 218.64 678.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 230.01 678.75 Td (follows ) Tj ET Q
q 0 0 0 rg BT 264.14 678.75 Td (\(dollars ) Tj ET Q
q 0 0 0 rg BT 298.84 678.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 309.63 678.75 Td (thousands\):) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 638.25 268.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
318.00 638.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
322.00 638.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.00 638.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 638.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 638.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
484.00 638.25 78.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 608.25 268.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
318.00 608.25 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
322.00 608.25 77.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.00 608.25 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 608.25 77.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 608.25 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
484.00 608.25 78.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 567.25 268.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
318.00 567.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
322.00 567.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.00 567.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 567.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 567.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
484.00 567.25 78.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 526.25 268.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
318.00 526.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
322.00 526.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.00 526.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 526.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 526.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
484.00 526.25 78.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 496.25 268.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
318.00 496.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
322.00 496.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.00 496.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 496.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 496.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
484.00 496.25 78.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 466.25 268.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
318.00 466.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
322.00 466.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.00 466.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 466.25 77.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 466.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
484.00 466.25 78.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 653.25 m
399 653.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
399 653.25 m
403 653.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 653.25 m
480 653.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
480 653.25 m
484 653.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
484 653.25 m
562 653.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 638.25 m
318 638.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 653.25 m
399 653.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 638.25 m
399 638.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 638.25 m
480 638.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
484 638.25 m
562 638.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 638.25 m
399 638.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 466.25 m
318 466.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 466.25 m
399 466.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 466.25 m
480 466.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
484 466.25 m
562 466.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 451.25 m
318 451.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 466.25 m
399 466.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 451.25 m
399 451.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 451.25 m
480 451.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
484 451.25 m
562 451.25 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 376.00 658.02 Td (For the ) Tj ET Q
q 0 0 0 rg BT 408.47 658.02 Td (Y) Tj ET Q
q 0 0 0 rg BT 415.33 658.02 Td (ears Ended March 31,) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 349.50 643.04 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 430.50 643.02 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 512.00 643.02 Td (2016) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 58.50 628.04 Td (Cash pr) Tj ET Q
q 0 0 0 rg BT 94.29 628.04 Td (ovided by operating activities, GAAP) Tj ET Q
q 0 0 0 rg BT 260.44 628.04 Td ( basis) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 324.50 628.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 360.85 628.04 Td (492,936) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 405.50 628.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 441.85 628.02 Td (539,772) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 486.50 628.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.85 628.02 Td (454,451) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 70.50 613.02 Td (Plus \(less\):) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 597.52 Td (Interest expense, net of accretion and amortization of) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 587.02 Td (debt discounts and premiums) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 360.85 587.04 Td (1) Tj ET Q
q 0 0 0 rg BT 366.10 587.04 Td (15,056) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 441.85 587.02 Td (107,483) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 587.02 Td (45,323) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 572.02 Td (Current tax expense) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 366.10 572.04 Td (38,983) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 447.10 572.02 Td (26,371) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 572.02 Td (15,419) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 557.02 Td (Net change in assets and liabilities) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 362.60 557.04 Td (\(36,842) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 395.00 557.04 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 443.60 557.02 Td (\(33,900) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 476.00 557.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 557.02 Td (26,565) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 541.52 Td (Net change in assets and liabilities of consolidated) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 531.02 Td (investment vehicles) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 366.10 531.04 Td (69,941) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 443.60 531.02 Td (\(41,365) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 476.00 531.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 531.02 Td (3,519) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 516.02 Td (Net \(income\) loss attributable to noncontrolling interests) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 362.60 516.04 Td (\(51,275) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 395.00 516.04 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 443.60 516.02 Td (\(59,447) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 476.00 516.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 516.02 Td (7,878) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 501.02 Td (Net gains \(losses\) and earnings on investments) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 375.75 501.04 Td (\(305) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 395.00 501.04 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 452.35 501.02 Td (9,717) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 501.02 Td (13,404) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 486.02 Td (Net gains \(losses\) on consolidated investment vehicles) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 371.35 486.04 Td (9,781) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 447.10 486.02 Td (13,329) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.85 486.02 Td (\(7,243) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 486.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.50 471.02 Td (Other) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 367.85 471.04 Td (\(1,047) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 395.00 471.04 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.85 471.02 Td (\(1,720) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 476.00 471.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 471.02 Td (2,1) Tj ET Q
q 0 0 0 rg BT 547.48 471.02 Td (16) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 58.50 456.04 Td (Adjusted EBITDA) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 324.50 456.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 360.85 456.04 Td (637,228) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 405.50 456.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 441.85 456.02 Td (560,240) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 486.50 456.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.85 456.02 Td (561,432) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 427.15 Td (Adjusted ) Tj ET Q
q 0 0 0 rg BT 90.43 427.15 Td (EBITDA) Tj ET Q
q 0 0 0 rg BT 128.34 427.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 131.36 427.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 146.62 427.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 162.46 427.15 Td (years ) Tj ET Q
q 0 0 0 rg BT 187.63 427.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 215.71 427.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 246.13 427.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 262.27 427.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 288.91 427.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 315.55 427.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 333.73 427.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 360.37 427.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 379.71 427.15 Td ($637.2 ) Tj ET Q
q 0 0 0 rg BT 411.60 427.15 Td (million, ) Tj ET Q
q 0 0 0 rg BT 447.58 427.15 Td ($560.2 ) Tj ET Q
q 0 0 0 rg BT 479.47 427.15 Td (million, ) Tj ET Q
q 0 0 0 rg BT 515.45 427.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 533.62 427.15 Td ($561.4 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.55 Td (million, ) Tj ET Q
q 0 0 0 rg BT 84.80 414.55 Td (respectively) Tj ET Q
q 0 0 0 rg BT 134.84 414.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 139.80 414.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 141.97 414.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 160.63 414.55 Td (increase ) Tj ET Q
q 0 0 0 rg BT 197.36 414.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 207.35 414.55 Td (Adjusted ) Tj ET Q
q 0 0 0 rg BT 247.60 414.55 Td (EBITDA) Tj ET Q
q 0 0 0 rg BT 285.51 414.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 287.85 414.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 302.43 414.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 317.59 414.55 Td (year ) Tj ET Q
q 0 0 0 rg BT 337.99 414.55 Td (ended ) Tj ET Q
q 0 0 0 rg BT 365.40 414.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 395.14 414.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 410.60 414.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 436.56 414.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 447.64 414.55 Td (compared ) Tj ET Q
q 0 0 0 rg BT 491.38 414.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 501.88 414.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 517.04 414.55 Td (year ) Tj ET Q
q 0 0 0 rg BT 537.45 414.55 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 78.79 401.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 93.81 401.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 119.32 401.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 137.54 401.95 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 178.50 401.95 Td (due ) Tj ET Q
q 0 0 0 rg BT 195.55 401.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 205.61 401.95 Td (an ) Tj ET Q
q 0 0 0 rg BT 217.41 401.95 Td (increase ) Tj ET Q
q 0 0 0 rg BT 253.69 401.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 263.75 401.95 Td (Net ) Tj ET Q
q 0 0 0 rg BT 280.80 401.95 Td (Income, ) Tj ET Q
q 0 0 0 rg BT 316.80 401.95 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 353.68 401.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 367.81 401.95 Td (non-cash ) Tj ET Q
q 0 0 0 rg BT 407.61 401.95 Td (items, ) Tj ET Q
q 0 0 0 rg BT 434.87 401.95 Td (lar) Tj ET Q
q 0 0 0 rg BT 445.76 401.95 Td (gely ) Tj ET Q
q 0 0 0 rg BT 465.72 401.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 480.44 401.95 Td (result ) Tj ET Q
q 0 0 0 rg BT 505.66 401.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 516.29 401.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 522.84 401.95 Td (reduction ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 389.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.10 389.35 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 108.61 389.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 126.21 389.35 Td (transition-related ) Tj ET Q
q 0 0 0 rg BT 200.37 389.35 Td (costs ) Tj ET Q
q 0 0 0 rg BT 223.80 389.35 Td (incurred ) Tj ET Q
q 0 0 0 rg BT 261.22 389.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 271.82 389.35 Td (connection ) Tj ET Q
q 0 0 0 rg BT 320.32 389.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 341.42 389.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 356.68 389.35 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 409.28 389.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 420.46 389.35 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 454.39 389.35 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 491.23 389.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 508.83 389.35 Td (EnT) Tj ET Q
q 0 0 0 rg BT 526.54 389.35 Td (rust, ) Tj ET Q
q 0 0 0 rg BT 547.35 389.35 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.32 376.75 Td (net ) Tj ET Q
q 0 0 0 rg BT 81.13 376.75 Td (impact ) Tj ET Q
q 0 0 0 rg BT 112.69 376.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 124.43 376.75 Td (increased ) Tj ET Q
q 0 0 0 rg BT 167.06 376.75 Td (operating ) Tj ET Q
q 0 0 0 rg BT 209.70 376.75 Td (revenues, ) Tj ET Q
q 0 0 0 rg BT 252.63 376.75 Td (of) Tj ET Q
q 0 0 0 rg BT 261.18 376.75 Td (fset ) Tj ET Q
q 0 0 0 rg BT 279.33 376.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 290.49 376.75 Td (part ) Tj ET Q
q 0 0 0 rg BT 309.80 376.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 323.29 376.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 339.10 376.75 Td (impact ) Tj ET Q
q 0 0 0 rg BT 370.67 376.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 382.40 376.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 398.22 376.75 Td (char) Tj ET Q
q 0 0 0 rg BT 416.09 376.75 Td (ge ) Tj ET Q
q 0 0 0 rg BT 428.99 376.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 460.54 376.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 471.70 376.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 487.52 376.75 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 533.65 376.75 Td (matter) Tj ET Q
q 0 0 0 rg BT 559.89 376.75 Td (. ) Tj ET Q
q 0 0 0 rg BT 565.14 376.75 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 364.15 Td (Adjusted ) Tj ET Q
q 0 0 0 rg BT 89.68 364.15 Td (EBITDA) Tj ET Q
q 0 0 0 rg BT 127.59 364.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 129.85 364.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 144.36 364.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 159.45 364.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 179.78 364.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 207.11 364.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 236.78 364.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 252.17 364.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 278.05 364.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 289.06 364.15 Td (compared ) Tj ET Q
q 0 0 0 rg BT 332.72 364.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 343.15 364.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 358.24 364.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 378.57 364.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 405.91 364.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 435.57 364.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 450.96 364.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 476.85 364.15 Td (remained ) Tj ET Q
q 0 0 0 rg BT 518.17 364.15 Td (essentially ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.55 Td (flat, ) Tj ET Q
q 0 0 0 rg BT 68.32 351.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 79.28 351.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 94.31 351.55 Td (net ) Tj ET Q
q 0 0 0 rg BT 109.35 351.55 Td (impact ) Tj ET Q
q 0 0 0 rg BT 140.13 351.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 151.08 351.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 157.95 351.55 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 199.81 351.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 210.19 351.55 Td (operating ) Tj ET Q
q 0 0 0 rg BT 252.04 351.55 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 291.57 351.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 301.35 351.55 Td (certain ) Tj ET Q
q 0 0 0 rg BT 332.12 351.55 Td (legacy ) Tj ET Q
q 0 0 0 rg BT 361.73 351.55 Td (af) Tj ET Q
q 0 0 0 rg BT 369.70 351.55 Td (filiates ) Tj ET Q
q 0 0 0 rg BT 400.48 351.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 419.02 351.55 Td (substantially ) Tj ET Q
q 0 0 0 rg BT 474.30 351.55 Td (of) Tj ET Q
q 0 0 0 rg BT 482.86 351.55 Td (fset ) Tj ET Q
q 0 0 0 rg BT 500.23 351.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 512.94 351.55 Td (incremental ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.95 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 87.70 338.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 110.73 338.95 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 144.85 338.95 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 181.89 338.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 199.67 338.95 Td (EnT) Tj ET Q
q 0 0 0 rg BT 217.38 338.95 Td (rust, ) Tj ET Q
q 0 0 0 rg BT 238.38 338.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 256.17 338.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 271.62 338.95 Td (inclusion ) Tj ET Q
q 0 0 0 rg BT 312.74 338.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 324.12 338.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 331.40 338.95 Td (full ) Tj ET Q
q 0 0 0 rg BT 348.61 338.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 369.30 338.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 380.67 338.95 Td (results ) Tj ET Q
q 0 0 0 rg BT 410.71 338.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 422.08 338.95 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 452.71 338.95 Td (Infrastructure.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 314.35 Td (LIQUIDITY) Tj ET Q
q 0 0 0 rg BT 106.29 314.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 108.34 314.35 Td (AND ) Tj ET Q
q 0 0 0 rg BT 133.71 314.35 Td (CAPIT) Tj ET Q
q 0 0 0 rg BT 165.60 314.35 Td (AL) Tj ET Q
q 0 0 0 rg BT 179.61 314.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 182.24 314.35 Td (RESOURCES) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 301.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 69.38 301.75 Td (primary ) Tj ET Q
q 0 0 0 rg BT 106.18 301.75 Td (objective ) Tj ET Q
q 0 0 0 rg BT 148.22 301.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 160.52 301.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 178.07 301.75 Td (capital ) Tj ET Q
q 0 0 0 rg BT 209.62 301.75 Td (structure ) Tj ET Q
q 0 0 0 rg BT 249.91 301.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 260.47 301.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 272.19 301.75 Td (appropriately ) Tj ET Q
q 0 0 0 rg BT 331.73 301.75 Td (support ) Tj ET Q
q 0 0 0 rg BT 366.78 301.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 384.34 301.75 Td (business ) Tj ET Q
q 0 0 0 rg BT 423.48 301.75 Td (strategies ) Tj ET Q
q 0 0 0 rg BT 466.69 301.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 485.41 301.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 497.13 301.75 Td (provide ) Tj ET Q
q 0 0 0 rg BT 532.76 301.75 Td (needed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 289.15 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 87.41 289.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 97.31 289.15 Td (all ) Tj ET Q
q 0 0 0 rg BT 110.13 289.15 Td (times, ) Tj ET Q
q 0 0 0 rg BT 137.82 289.15 Td (including ) Tj ET Q
q 0 0 0 rg BT 179.81 289.15 Td (maintaining ) Tj ET Q
q 0 0 0 rg BT 232.29 289.15 Td (required ) Tj ET Q
q 0 0 0 rg BT 269.59 289.15 Td (capital ) Tj ET Q
q 0 0 0 rg BT 299.89 289.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 310.38 289.15 Td (certain ) Tj ET Q
q 0 0 0 rg BT 341.27 289.15 Td (subsidiaries. ) Tj ET Q
q 0 0 0 rg BT 395.79 289.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 398.11 289.15 Td (Liquidity ) Tj ET Q
q 0 0 0 rg BT 439.52 289.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 457.00 289.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 472.15 289.15 Td (access ) Tj ET Q
q 0 0 0 rg BT 501.29 289.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 511.78 289.15 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 549.69 289.15 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 276.55 Td (important ) Tj ET Q
q 0 0 0 rg BT 92.73 276.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 103.30 276.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 118.53 276.55 Td (success ) Tj ET Q
q 0 0 0 rg BT 152.42 276.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 163.56 276.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 179.96 276.55 Td (ongoing ) Tj ET Q
q 0 0 0 rg BT 216.78 276.55 Td (operations. ) Tj ET Q
q 0 0 0 rg BT 265.55 276.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 267.95 276.55 Td (Our ) Tj ET Q
q 0 0 0 rg BT 286.68 276.55 Td (overall ) Tj ET Q
q 0 0 0 rg BT 318.23 276.55 Td (funding ) Tj ET Q
q 0 0 0 rg BT 353.30 276.55 Td (needs ) Tj ET Q
q 0 0 0 rg BT 379.60 276.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 397.17 276.55 Td (capital ) Tj ET Q
q 0 0 0 rg BT 427.55 276.55 Td (base ) Tj ET Q
q 0 0 0 rg BT 448.61 276.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 463.83 276.55 Td (continually ) Tj ET Q
q 0 0 0 rg BT 513.47 276.55 Td (reviewed ) Tj ET Q
q 0 0 0 rg BT 554.35 276.55 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 263.95 Td (determine ) Tj ET Q
q 0 0 0 rg BT 92.99 263.95 Td (if ) Tj ET Q
q 0 0 0 rg BT 100.92 263.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 115.26 263.95 Td (capital ) Tj ET Q
q 0 0 0 rg BT 144.76 263.95 Td (base ) Tj ET Q
q 0 0 0 rg BT 164.93 263.95 Td (meets ) Tj ET Q
q 0 0 0 rg BT 190.93 263.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 205.27 263.95 Td (expected ) Tj ET Q
q 0 0 0 rg BT 244.10 263.95 Td (needs ) Tj ET Q
q 0 0 0 rg BT 269.52 263.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 279.78 263.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 295.29 263.95 Td (businesses. ) Tj ET Q
q 0 0 0 rg BT 343.76 263.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 345.16 263.95 Td (W) Tj ET Q
q 0 0 0 rg BT 354.23 263.95 Td (e ) Tj ET Q
q 0 0 0 rg BT 360.41 263.95 Td (intend ) Tj ET Q
q 0 0 0 rg BT 388.16 263.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 397.84 263.95 Td (continue ) Tj ET Q
q 0 0 0 rg BT 435.51 263.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 445.19 263.95 Td (explore ) Tj ET Q
q 0 0 0 rg BT 478.19 263.95 Td (potential ) Tj ET Q
q 0 0 0 rg BT 516.44 263.95 Td (acquisition ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 251.35 Td (opportunities ) Tj ET Q
q 0 0 0 rg BT 107.44 251.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 118.72 251.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 125.92 251.35 Td (means ) Tj ET Q
q 0 0 0 rg BT 155.27 251.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 166.55 251.35 Td (diversifying ) Tj ET Q
q 0 0 0 rg BT 219.82 251.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 237.52 251.35 Td (strengthening ) Tj ET Q
q 0 0 0 rg BT 297.20 251.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 313.73 251.35 Td (asset ) Tj ET Q
q 0 0 0 rg BT 336.67 251.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 392.85 251.35 Td (business. ) Tj ET Q
q 0 0 0 rg BT 433.59 251.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 435.94 251.35 Td (These ) Tj ET Q
q 0 0 0 rg BT 463.55 251.35 Td (opportunities ) Tj ET Q
q 0 0 0 rg BT 521.49 251.35 Td (may ) Tj ET Q
q 0 0 0 rg BT 542.10 251.35 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 238.75 Td (time ) Tj ET Q
q 0 0 0 rg BT 71.74 238.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 83.49 238.75 Td (time ) Tj ET Q
q 0 0 0 rg BT 105.74 238.75 Td (involve ) Tj ET Q
q 0 0 0 rg BT 140.81 238.75 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 194.56 238.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 213.89 238.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 230.28 238.75 Td (material ) Tj ET Q
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q 0 0 0 rg BT 280.01 238.75 Td (size ) Tj ET Q
q 0 0 0 rg BT 299.92 238.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 318.66 238.75 Td (may ) Tj ET Q
q 0 0 0 rg BT 340.32 238.75 Td (require, ) Tj ET Q
q 0 0 0 rg BT 376.26 238.75 Td (among ) Tj ET Q
q 0 0 0 rg BT 408.42 238.75 Td (other ) Tj ET Q
q 0 0 0 rg BT 433.57 238.75 Td (things, ) Tj ET Q
q 0 0 0 rg BT 465.45 238.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 484.19 238.75 Td (subject ) Tj ET Q
q 0 0 0 rg BT 517.52 238.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 529.26 238.75 Td (existing ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 226.15 Td (covenants, ) Tj ET Q
q 0 0 0 rg BT 96.74 226.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 112.19 226.15 Td (raising ) Tj ET Q
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q 0 0 0 rg BT 288.31 226.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 303.76 226.15 Td (issuance ) Tj ET Q
q 0 0 0 rg BT 341.96 226.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 353.33 226.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 397.95 226.15 Td (debt.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 200.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 67.83 200.95 Td (consolidation ) Tj ET Q
q 0 0 0 rg BT 126.41 200.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 137.16 200.95 Td (variable ) Tj ET Q
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q 0 0 0 rg BT 205.89 200.95 Td (entities ) Tj ET Q
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q 0 0 0 rg BT 280.47 200.95 Td (above ) Tj ET Q
q 0 0 0 rg BT 307.54 200.95 Td (does ) Tj ET Q
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q 0 0 0 rg BT 374.79 200.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 390.79 200.95 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 428.38 200.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 445.55 200.95 Td (capital ) Tj ET Q
q 0 0 0 rg BT 475.53 200.95 Td (resources. ) Tj ET Q
q 0 0 0 rg BT 519.81 200.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 521.81 200.95 Td (However) Tj ET Q
q 0 0 0 rg BT 559.88 200.95 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 188.35 Td (we ) Tj ET Q
q 0 0 0 rg BT 63.44 188.35 Td (have ) Tj ET Q
q 0 0 0 rg BT 84.96 188.35 Td (executed ) Tj ET Q
q 0 0 0 rg BT 123.97 188.35 Td (total ) Tj ET Q
q 0 0 0 rg BT 144.33 188.35 Td (return ) Tj ET Q
q 0 0 0 rg BT 171.10 188.35 Td (swap ) Tj ET Q
q 0 0 0 rg BT 194.38 188.35 Td (arrangements ) Tj ET Q
q 0 0 0 rg BT 252.63 188.35 Td (with ) Tj ET Q
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q 0 0 0 rg BT 312.61 188.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 322.48 188.35 Td (two ) Tj ET Q
q 0 0 0 rg BT 339.93 188.35 Td (ETFs, ) Tj ET Q
q 0 0 0 rg BT 367.01 188.35 Td (and ) Tj ET Q
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q 0 0 0 rg BT 394.31 188.35 Td (a ) Tj ET Q
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q 0 0 0 rg BT 425.70 188.35 Td (we ) Tj ET Q
q 0 0 0 rg BT 439.64 188.35 Td (receive ) Tj ET Q
q 0 0 0 rg BT 471.64 188.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 486.17 188.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 516.43 188.35 Td (investment ) Tj ET Q
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358.00 555.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
362.00 555.45 64.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
426.00 555.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
430.00 555.45 64.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
494.00 555.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 555.45 64.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 525.45 308.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
358.00 525.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
362.00 525.45 64.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
426.00 525.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
430.00 525.45 64.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
494.00 525.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 525.45 64.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 615.45 m
358 615.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
362 615.45 m
426 615.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
430 615.45 m
494 615.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
498 615.45 m
562 615.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
362 615.45 m
426 615.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
430 615.45 m
494 615.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
498 615.45 m
562 615.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 555.45 m
358 555.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
362 555.45 m
426 555.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
430 555.45 m
494 555.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
498 555.45 m
562 555.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 525.45 m
358 525.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
362 525.45 m
426 525.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
430 525.45 m
494 525.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
498 525.45 m
562 525.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 510.45 m
358 510.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
362 510.45 m
426 510.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
430 510.45 m
494 510.45 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
498 510.45 m
562 510.45 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 620.22 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 383.00 620.24 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 451.00 620.22 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 519.00 620.22 Td (2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 605.22 Td (Cash flows provided by operating activities) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 364.50 605.24 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 398.35 605.24 Td (492.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 432.50 605.22 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 466.35 605.22 Td (539.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 500.50 605.22 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 605.22 Td (454.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 590.22 Td (Cash flows used in investing activities) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 400.10 590.24 Td (\(39.0) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 422.00 590.24 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 455.00 590.22 Td (\(1,019.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 490.00 590.22 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.85 590.22 Td (\(244.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 590.22 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 575.22 Td (Cash flows provided by \(used in\) financing activities) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 394.85 575.24 Td (\(462.3) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 422.00 575.24 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 462.85 575.22 Td (\(1) Tj ET Q
q 0 0 0 rg BT 471.60 575.22 Td (16.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 490.00 575.22 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 575.22 Td (465.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 560.22 Td (Ef) Tj ET Q
q 0 0 0 rg BT 62.32 560.22 Td (fect of exchange rate changes) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 403.60 560.24 Td (10.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 476.85 560.22 Td (1.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 536.10 560.22 Td (\(16.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 560.22 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 545.22 Td (Net change in cash and cash equivalents) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 408.85 545.24 Td (2.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 462.85 545.22 Td (\(595.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 490.00 545.22 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 545.22 Td (659.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 530.22 Td (Cash and cash equivalents, beginning of period) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 398.35 530.24 Td (733.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 458.50 530.22 Td (1,329.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 530.22 Td (669.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 515.22 Td (Cash and cash equivalents, end of period) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 364.50 515.24 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 398.35 515.24 Td (736.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 432.50 515.22 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 466.35 515.22 Td (733.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 500.50 515.22 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 526.50 515.22 Td (1,329.1) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 485.75 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 74.04 485.75 Td (inflows ) Tj ET Q
q 0 0 0 rg BT 109.08 485.75 Td (provided ) Tj ET Q
q 0 0 0 rg BT 149.95 485.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 163.99 485.75 Td (operating ) Tj ET Q
q 0 0 0 rg BT 207.18 485.75 Td (activities ) Tj ET Q
q 0 0 0 rg BT 248.63 485.75 Td (during ) Tj ET Q
q 0 0 0 rg BT 279.58 485.75 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 305.86 485.75 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 330.40 485.75 Td (were ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 354.34 485.75 Td ($492.9 ) Tj ET Q
q 0 0 0 rg BT 386.75 485.75 Td (million) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 417.09 485.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 423.26 485.75 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 465.87 485.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 497.97 485.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 509.68 485.75 Td (Net ) Tj ET Q
q 0 0 0 rg BT 528.38 485.75 Td (Income, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 473.15 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 86.05 473.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 99.86 473.15 Td (non-cash ) Tj ET Q
q 0 0 0 rg BT 139.32 473.15 Td (items, ) Tj ET Q
q 0 0 0 rg BT 166.25 473.15 Td (including ) Tj ET Q
q 0 0 0 rg BT 207.48 473.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 221.87 473.15 Td ($229.0 ) Tj ET Q
q 0 0 0 rg BT 252.30 473.15 Td (million ) Tj ET Q
q 0 0 0 rg BT 284.20 473.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 294.51 473.15 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 344.47 473.15 Td (char) Tj ET Q
q 0 0 0 rg BT 362.35 473.15 Td (ges ) Tj ET Q
q 0 0 0 rg BT 377.91 473.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 394.63 473.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 409.02 473.15 Td ($213.7 ) Tj ET Q
q 0 0 0 rg BT 439.45 473.15 Td (million ) Tj ET Q
q 0 0 0 rg BT 471.35 473.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 485.74 473.15 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 516.45 473.15 Td (recognized ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 460.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.67 460.55 Td (connection ) Tj ET Q
q 0 0 0 rg BT 109.75 460.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 131.42 460.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 147.26 460.55 Td (enactment ) Tj ET Q
q 0 0 0 rg BT 193.41 460.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 205.16 460.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 220.78 460.55 Td (T) Tj ET Q
q 0 0 0 rg BT 226.46 460.55 Td (ax ) Tj ET Q
q 0 0 0 rg BT 239.38 460.55 Td (Law) Tj ET Q
q 0 0 0 rg BT 257.35 460.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 262.99 460.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 265.99 460.55 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 290.00 460.55 Td (inflows ) Tj ET Q
q 0 0 0 rg BT 324.51 460.55 Td (provided ) Tj ET Q
q 0 0 0 rg BT 364.84 460.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 378.35 460.55 Td (operating ) Tj ET Q
q 0 0 0 rg BT 421.01 460.55 Td (activities ) Tj ET Q
q 0 0 0 rg BT 461.92 460.55 Td (during ) Tj ET Q
q 0 0 0 rg BT 492.34 460.55 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 518.09 460.55 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 542.09 460.55 Td (were ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 447.95 Td ($539.8 ) Tj ET Q
q 0 0 0 rg BT 81.10 447.95 Td (million, ) Tj ET Q
q 0 0 0 rg BT 116.79 447.95 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 158.59 447.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 189.88 447.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 200.77 447.95 Td (Net ) Tj ET Q
q 0 0 0 rg BT 218.66 447.95 Td (Income, ) Tj ET Q
q 0 0 0 rg BT 255.50 447.95 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 293.21 447.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 308.18 447.95 Td (non-cash ) Tj ET Q
q 0 0 0 rg BT 348.81 447.95 Td (items, ) Tj ET Q
q 0 0 0 rg BT 376.92 447.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 394.80 447.95 Td (net ) Tj ET Q
q 0 0 0 rg BT 410.36 447.95 Td (sales ) Tj ET Q
q 0 0 0 rg BT 433.49 447.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 444.97 447.95 Td (investment ) Tj ET Q
q 0 0 0 rg BT 493.77 447.95 Td (securities. ) Tj ET Q
q 0 0 0 rg BT 538.77 447.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 541.50 447.95 Td (Cash ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 435.35 Td (inflows ) Tj ET Q
q 0 0 0 rg BT 83.48 435.35 Td (provided ) Tj ET Q
q 0 0 0 rg BT 123.28 435.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 136.25 435.35 Td (operating ) Tj ET Q
q 0 0 0 rg BT 178.38 435.35 Td (activities ) Tj ET Q
q 0 0 0 rg BT 218.76 435.35 Td (during ) Tj ET Q
q 0 0 0 rg BT 248.65 435.35 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 273.86 435.35 Td (2016 ) Tj ET Q
q 0 0 0 rg BT 297.34 435.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 320.21 435.35 Td ($454.5 ) Tj ET Q
q 0 0 0 rg BT 351.56 435.35 Td (million, ) Tj ET Q
q 0 0 0 rg BT 387.00 435.35 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 428.55 435.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 459.59 435.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 470.23 435.35 Td (Net ) Tj ET Q
q 0 0 0 rg BT 487.87 435.35 Td (Loss, ) Tj ET Q
q 0 0 0 rg BT 512.81 435.35 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 550.27 435.35 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 422.75 Td (non-cash ) Tj ET Q
q 0 0 0 rg BT 90.03 422.75 Td (items.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 397.55 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 73.58 397.55 Td (outflows ) Tj ET Q
q 0 0 0 rg BT 113.40 397.55 Td (used ) Tj ET Q
q 0 0 0 rg BT 135.72 397.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 146.96 397.55 Td (investing ) Tj ET Q
q 0 0 0 rg BT 188.54 397.55 Td (activities ) Tj ET Q
q 0 0 0 rg BT 229.52 397.55 Td (during ) Tj ET Q
q 0 0 0 rg BT 260.01 397.55 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 285.82 397.55 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 309.90 397.55 Td (were ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 333.37 397.55 Td ($39.0 ) Tj ET Q
q 0 0 0 rg BT 360.07 397.55 Td (million) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 390.41 397.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 396.11 397.55 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 438.26 397.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 469.90 397.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 481.14 397.55 Td (payments ) Tj ET Q
q 0 0 0 rg BT 524.46 397.55 Td (made ) Tj ET Q
q 0 0 0 rg BT 550.27 397.55 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 384.95 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 72.58 384.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 98.58 384.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 115.24 384.95 Td (an ) Tj ET Q
q 0 0 0 rg BT 126.66 384.95 Td (increase ) Tj ET Q
q 0 0 0 rg BT 162.55 384.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 172.23 384.95 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 212.79 384.95 Td (cash, ) Tj ET Q
q 0 0 0 rg BT 235.58 384.95 Td (of) Tj ET Q
q 0 0 0 rg BT 244.14 384.95 Td (fset ) Tj ET Q
q 0 0 0 rg BT 260.80 384.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 270.47 384.95 Td (part ) Tj ET Q
q 0 0 0 rg BT 288.30 384.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 300.30 384.95 Td (returns ) Tj ET Q
q 0 0 0 rg BT 330.96 384.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 341.21 384.95 Td (capital ) Tj ET Q
q 0 0 0 rg BT 370.70 384.95 Td (received ) Tj ET Q
q 0 0 0 rg BT 407.76 384.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 419.77 384.95 Td (certain ) Tj ET Q
q 0 0 0 rg BT 449.83 384.95 Td (investments ) Tj ET Q
q 0 0 0 rg BT 501.50 384.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 511.17 384.95 Td (partnerships ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 372.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.62 372.35 Td (limited ) Tj ET Q
q 0 0 0 rg BT 100.32 372.35 Td (liability ) Tj ET Q
q 0 0 0 rg BT 135.94 372.35 Td (companies. ) Tj ET Q
q 0 0 0 rg BT 186.42 372.35 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 210.38 372.35 Td (outflows ) Tj ET Q
q 0 0 0 rg BT 250.09 372.35 Td (used ) Tj ET Q
q 0 0 0 rg BT 272.29 372.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 283.41 372.35 Td (investing ) Tj ET Q
q 0 0 0 rg BT 324.87 372.35 Td (activities ) Tj ET Q
q 0 0 0 rg BT 365.73 372.35 Td (during ) Tj ET Q
q 0 0 0 rg BT 396.10 372.35 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 421.79 372.35 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 445.75 372.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 469.11 372.35 Td ($1.0 ) Tj ET Q
q 0 0 0 rg BT 490.44 372.35 Td (billion, ) Tj ET Q
q 0 0 0 rg BT 523.44 372.35 Td (primarily ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 359.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 80.15 359.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 90.40 359.75 Td (payments ) Tj ET Q
q 0 0 0 rg BT 132.73 359.75 Td (associated ) Tj ET Q
q 0 0 0 rg BT 177.97 359.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 198.72 359.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 213.63 359.75 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 265.88 359.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 276.71 359.75 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 310.30 359.75 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 346.79 359.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 364.04 359.75 Td (EnT) Tj ET Q
q 0 0 0 rg BT 381.74 359.75 Td (rust ) Tj ET Q
q 0 0 0 rg BT 399.58 359.75 Td (aggregating ) Tj ET Q
q 0 0 0 rg BT 451.23 359.75 Td ($997.9 ) Tj ET Q
q 0 0 0 rg BT 482.19 359.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 514.61 359.75 Td (\(net ) Tj ET Q
q 0 0 0 rg BT 533.02 359.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 543.85 359.75 Td (cash ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 347.15 Td (acquired\). ) Tj ET Q
q 0 0 0 rg BT 94.10 347.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 96.44 347.15 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 119.78 347.15 Td (outflows ) Tj ET Q
q 0 0 0 rg BT 158.86 347.15 Td (used ) Tj ET Q
q 0 0 0 rg BT 180.45 347.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 190.95 347.15 Td (investing ) Tj ET Q
q 0 0 0 rg BT 231.79 347.15 Td (activities ) Tj ET Q
q 0 0 0 rg BT 272.03 347.15 Td (during ) Tj ET Q
q 0 0 0 rg BT 301.78 347.15 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 326.86 347.15 Td (2016 ) Tj ET Q
q 0 0 0 rg BT 350.19 347.15 Td (were ) Tj ET Q
q 0 0 0 rg BT 372.93 347.15 Td ($244.6 ) Tj ET Q
q 0 0 0 rg BT 404.14 347.15 Td (million, ) Tj ET Q
q 0 0 0 rg BT 439.44 347.15 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 480.85 347.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 511.75 347.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 522.25 347.15 Td (payments ) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F2 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 341.85 741.75 Td (capital ) Tj ET Q
q 0 0 0 rg BT 371.57 741.75 Td (securities. ) Tj ET Q
q 0 0 0 rg BT 415.59 741.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 417.33 741.75 Td (EBITDA) Tj ET Q
q 0 0 0 rg BT 455.24 741.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 456.98 741.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 465.72 741.75 Td (defined ) Tj ET Q
q 0 0 0 rg BT 498.94 741.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 509.43 741.75 Td (consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 729.15 Td (net ) Tj ET Q
q 0 0 0 rg BT 67.14 729.15 Td (income ) Tj ET Q
q 0 0 0 rg BT 102.85 729.15 Td (\(loss\) ) Tj ET Q
q 0 0 0 rg BT 131.00 729.15 Td (plus/minus ) Tj ET Q
q 0 0 0 rg BT 181.90 729.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 199.53 729.15 Td (expense ) Tj ET Q
q 0 0 0 rg BT 238.16 729.15 Td (\(benefit\), ) Tj ET Q
q 0 0 0 rg BT 281.74 729.15 Td (interest ) Tj ET Q
q 0 0 0 rg BT 317.46 729.15 Td (expense, ) Tj ET Q
q 0 0 0 rg BT 358.71 729.15 Td (depreciation ) Tj ET Q
q 0 0 0 rg BT 415.41 729.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 435.38 729.15 Td (amortization, ) Tj ET Q
q 0 0 0 rg BT 495.88 729.15 Td (amortization ) Tj ET Q
q 0 0 0 rg BT 553.76 729.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 716.55 Td (intangibles, ) Tj ET Q
q 0 0 0 rg BT 100.35 716.55 Td (any ) Tj ET Q
q 0 0 0 rg BT 117.67 716.55 Td (extraordinary ) Tj ET Q
q 0 0 0 rg BT 176.38 716.55 Td (expense ) Tj ET Q
q 0 0 0 rg BT 212.35 716.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 223.24 716.55 Td (losses, ) Tj ET Q
q 0 0 0 rg BT 253.11 716.55 Td (any ) Tj ET Q
q 0 0 0 rg BT 270.42 716.55 Td (non-cash ) Tj ET Q
q 0 0 0 rg BT 310.48 716.55 Td (char) Tj ET Q
q 0 0 0 rg BT 328.36 716.55 Td (ges, ) Tj ET Q
q 0 0 0 rg BT 347.13 716.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 364.44 716.55 Td (certain ) Tj ET Q
q 0 0 0 rg BT 395.16 716.55 Td (transition-related ) Tj ET Q
q 0 0 0 rg BT 469.03 716.55 Td (costs, ) Tj ET Q
q 0 0 0 rg BT 494.81 716.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 505.71 716.55 Td (defined ) Tj ET Q
q 0 0 0 rg BT 539.35 716.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 549.67 716.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 703.95 Td (agreements. ) Tj ET Q
q 0 0 0 rg BT 102.72 703.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 104.88 703.95 Td (As ) Tj ET Q
q 0 0 0 rg BT 119.34 703.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 130.86 703.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 161.05 703.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 176.96 703.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 203.36 703.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 220.14 703.95 Td (net ) Tj ET Q
q 0 0 0 rg BT 235.75 703.95 Td (debt ) Tj ET Q
q 0 0 0 rg BT 256.61 703.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 267.56 703.95 Td (EBITDA) Tj ET Q
q 0 0 0 rg BT 305.47 703.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 308.25 703.95 Td (ratio ) Tj ET Q
q 0 0 0 rg BT 330.28 703.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 349.39 703.95 Td (2.5 ) Tj ET Q
q 0 0 0 rg BT 365.29 703.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 376.24 703.95 Td (1 ) Tj ET Q
q 0 0 0 rg BT 384.27 703.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 402.22 703.95 Td (EBITDA) Tj ET Q
q 0 0 0 rg BT 440.13 703.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 442.91 703.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 453.86 703.95 Td (interest ) Tj ET Q
q 0 0 0 rg BT 487.55 703.95 Td (expense ) Tj ET Q
q 0 0 0 rg BT 524.15 703.95 Td (ratio ) Tj ET Q
q 0 0 0 rg BT 546.17 703.95 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 691.35 Td (6.2 ) Tj ET Q
q 0 0 0 rg BT 65.25 691.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 76.04 691.35 Td (1, ) Tj ET Q
q 0 0 0 rg BT 86.54 691.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 104.33 691.35 Td (therefore, ) Tj ET Q
q 0 0 0 rg BT 147.47 691.35 Td (we ) Tj ET Q
q 0 0 0 rg BT 162.34 691.35 Td (have ) Tj ET Q
q 0 0 0 rg BT 184.78 691.35 Td (maintained ) Tj ET Q
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q 0 0 0 rg BT 306.37 691.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 321.83 691.35 Td (applicable ) Tj ET Q
q 0 0 0 rg BT 367.60 691.35 Td (covenants.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.15 Td (On ) Tj ET Q
q 0 0 0 rg BT 65.46 666.15 Td (June ) Tj ET Q
q 0 0 0 rg BT 87.83 666.15 Td (2, ) Tj ET Q
q 0 0 0 rg BT 98.83 666.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 125.58 666.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 142.71 666.15 Td (Credit ) Tj ET Q
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q 0 0 0 rg BT 240.62 666.15 Td (amended ) Tj ET Q
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q 0 0 0 rg BT 292.94 666.15 Td (include ) Tj ET Q
q 0 0 0 rg BT 326.97 666.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 351.67 666.15 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 386.00 666.15 Td (Inc. ) Tj ET Q
q 0 0 0 rg BT 405.16 666.15 Td (\(the ) Tj ET Q
q 0 0 0 rg BT 424.61 666.15 Td (parent ) Tj ET Q
q 0 0 0 rg BT 453.97 666.15 Td (entity\) ) Tj ET Q
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q 0 0 0 rg BT 516.21 666.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 532.17 666.15 Td (entities ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 653.55 Td (permitted ) Tj ET Q
q 0 0 0 rg BT 92.39 653.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 103.20 653.55 Td (incur ) Tj ET Q
q 0 0 0 rg BT 127.43 653.55 Td (liens ) Tj ET Q
q 0 0 0 rg BT 149.91 653.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 160.73 653.55 Td (secure ) Tj ET Q
q 0 0 0 rg BT 190.19 653.55 Td (obligations, ) Tj ET Q
q 0 0 0 rg BT 242.13 653.55 Td (including ) Tj ET Q
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q 0 0 0 rg BT 351.29 653.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 372.60 653.55 Td (collateral ) Tj ET Q
q 0 0 0 rg BT 414.30 653.55 Td (provisions ) Tj ET Q
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q 0 0 0 rg BT 475.60 653.55 Td (hedging ) Tj ET Q
q 0 0 0 rg BT 512.08 653.55 Td (agreements, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 640.95 Td (in ) Tj ET Q
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q 0 0 0 rg BT 71.75 640.95 Td (aggregate ) Tj ET Q
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q 0 0 0 rg BT 173.98 640.95 Td (exceed ) Tj ET Q
q 0 0 0 rg BT 205.21 640.95 Td ($200 ) Tj ET Q
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q 0 0 0 rg BT 270.38 640.95 Td (any ) Tj ET Q
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q 0 0 0 rg BT 496.85 640.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 512.94 640.95 Td (subsidiaries ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.35 Td (were ) Tj ET Q
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q 0 0 0 rg BT 151.28 628.35 Td (such ) Tj ET Q
q 0 0 0 rg BT 173.37 628.35 Td (liens ) Tj ET Q
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q 0 0 0 rg BT 229.74 628.35 Td (cash ) Tj ET Q
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q 0 0 0 rg BT 346.68 628.35 Td (Legg ) Tj ET Q
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q 0 0 0 rg BT 536.90 628.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 548.50 628.35 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.75 Td (hedging ) Tj ET Q
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q 0 0 0 rg BT 277.88 615.75 Td (purposes ) Tj ET Q
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q 0 0 0 rg BT 327.79 615.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 342.54 615.75 Td (lien ) Tj ET Q
q 0 0 0 rg BT 360.21 615.75 Td (covenant. ) Tj ET Q
q 0 0 0 rg BT 402.65 615.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 404.15 615.75 Td (As ) Tj ET Q
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q 0 0 0 rg BT 466.36 615.75 Td (were ) Tj ET Q
q 0 0 0 rg BT 488.68 615.75 Td (not ) Tj ET Q
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q 0 0 0 rg BT 514.10 615.75 Td (compliance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 70.62 603.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 85.90 603.15 Td (terms ) Tj ET Q
q 0 0 0 rg BT 111.68 603.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 122.87 603.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 138.15 603.15 Td (Credit ) Tj ET Q
q 0 0 0 rg BT 166.31 603.15 Td (Agreement ) Tj ET Q
q 0 0 0 rg BT 215.41 603.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 225.43 603.15 Td (all ) Tj ET Q
q 0 0 0 rg BT 238.38 603.15 Td (times. ) Tj ET Q
q 0 0 0 rg BT 266.21 603.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 268.48 603.15 Td (The ) Tj ET Q
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q 0 0 0 rg BT 399.11 603.15 Td (waiver ) Tj ET Q
q 0 0 0 rg BT 430.13 603.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 441.32 603.15 Td (any ) Tj ET Q
q 0 0 0 rg BT 458.94 603.15 Td (defaults ) Tj ET Q
q 0 0 0 rg BT 494.63 603.15 Td (under ) Tj ET Q
q 0 0 0 rg BT 520.98 603.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 536.26 603.15 Td (Credit ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (Agreement ) Tj ET Q
q 0 0 0 rg BT 98.77 590.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 117.14 590.55 Td (may ) Tj ET Q
q 0 0 0 rg BT 137.85 590.55 Td (have ) Tj ET Q
q 0 0 0 rg BT 160.29 590.55 Td (arisen ) Tj ET Q
q 0 0 0 rg BT 187.99 590.55 Td (prior ) Tj ET Q
q 0 0 0 rg BT 211.02 590.55 Td (to ) Tj ET Q
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q 0 0 0 rg BT 413.68 590.55 Td (provision ) Tj ET Q
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q 0 0 0 rg BT 467.34 590.55 Td (such ) Tj ET Q
q 0 0 0 rg BT 489.21 590.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 510.50 590.55 Td (collateral.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (If ) Tj ET Q
q 0 0 0 rg BT 58.85 565.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 75.20 565.35 Td (net ) Tj ET Q
q 0 0 0 rg BT 90.38 565.35 Td (income ) Tj ET Q
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q 0 0 0 rg BT 178.48 565.35 Td (declines, ) Tj ET Q
q 0 0 0 rg BT 217.87 565.35 Td (or ) Tj ET Q
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q 0 0 0 rg BT 237.73 565.35 Td (we ) Tj ET Q
q 0 0 0 rg BT 252.33 565.35 Td (spend ) Tj ET Q
q 0 0 0 rg BT 279.18 565.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 295.53 565.35 Td (available ) Tj ET Q
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q 0 0 0 rg BT 367.60 565.35 Td (may ) Tj ET Q
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q 0 0 0 rg BT 418.96 565.35 Td (our ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 86.59 552.75 Td (financial ) Tj ET Q
q 0 0 0 rg BT 126.11 552.75 Td (covenants ) Tj ET Q
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q 0 0 0 rg BT 197.60 552.75 Td (our ) Tj ET Q
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q 0 0 0 rg BT 294.88 552.75 Td ( ) Tj ET Q
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q 0 0 0 rg BT 307.46 552.75 Td (we ) Tj ET Q
q 0 0 0 rg BT 322.50 552.75 Td (determine ) Tj ET Q
q 0 0 0 rg BT 367.28 552.75 Td (that ) Tj ET Q
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q 0 0 0 rg BT 544.42 552.75 Td (may ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (be ) Tj ET Q
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q 0 0 0 rg BT 91.57 540.15 Td (pressure ) Tj ET Q
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q 0 0 0 rg BT 142.39 540.15 Td (a ) Tj ET Q
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q 0 0 0 rg BT 217.21 540.15 Td (either ) Tj ET Q
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q 0 0 0 rg BT 269.18 540.15 Td (outstanding ) Tj ET Q
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q 0 0 0 rg BT 421.60 540.15 Td (facility) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (borrowings, ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 370.23 514.95 Td (all ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F3 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 141.67 564.79 Td (ch 31, 2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 293.50 564.79 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 343.50 564.79 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 365.50 564.79 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 409.85 564.79 Td (3.7) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 434.50 564.79 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 479.85 564.79 Td (1.9) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 503.50 564.79 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 544.85 564.79 Td (5.6) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 545.30 Td (\(1\) ) Tj ET Q
q 0 0 0 rg BT 61.54 545.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 67.50 545.30 Td (Using ) Tj ET Q
q 0 0 0 rg BT 89.93 545.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 102.44 545.30 Td (applicable ) Tj ET Q
q 0 0 0 rg BT 139.50 545.30 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 173.71 545.30 Td (rate ) Tj ET Q
q 0 0 0 rg BT 188.58 545.30 Td (as ) Tj ET Q
q 0 0 0 rg BT 197.78 545.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 206.99 545.30 Td (March ) Tj ET Q
q 0 0 0 rg BT 231.30 545.30 Td (31, ) Tj ET Q
q 0 0 0 rg BT 244.05 545.30 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 263.17 545.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 275.21 545.30 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 306.14 545.30 Td (denominated ) Tj ET Q
q 0 0 0 rg BT 352.17 545.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 360.90 545.30 Td (currencies ) Tj ET Q
q 0 0 0 rg BT 397.95 545.30 Td (other ) Tj ET Q
q 0 0 0 rg BT 417.54 545.30 Td (than ) Tj ET Q
q 0 0 0 rg BT 434.30 545.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 446.81 545.30 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 464.05 545.30 Td (dollar) Tj ET Q
q 0 0 0 rg BT 483.41 545.30 Td (.) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 535.10 Td (\(2\) ) Tj ET Q
q 0 0 0 rg BT 61.54 535.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 67.50 535.10 Td (Includes ) Tj ET Q
q 0 0 0 rg BT 98.42 535.10 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 129.35 535.10 Td (related ) Tj ET Q
q 0 0 0 rg BT 154.60 535.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 163.34 535.10 Td (two ) Tj ET Q
q 0 0 0 rg BT 178.21 535.10 Td (small ) Tj ET Q
q 0 0 0 rg BT 198.75 535.10 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 241.49 535.10 Td (completed ) Tj ET Q
q 0 0 0 rg BT 279.02 535.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 287.75 535.10 Td (December ) Tj ET Q
q 0 0 0 rg BT 324.80 535.10 Td (2017.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 512.30 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.23 512.30 Td (further ) Tj ET Q
q 0 0 0 rg BT 93.85 512.30 Td (described ) Tj ET Q
q 0 0 0 rg BT 136.14 512.30 Td (below) Tj ET Q
q 0 0 0 rg BT 161.12 512.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 165.80 512.30 Td (we ) Tj ET Q
q 0 0 0 rg BT 180.10 512.30 Td (may ) Tj ET Q
q 0 0 0 rg BT 200.23 512.30 Td (be ) Tj ET Q
q 0 0 0 rg BT 212.20 512.30 Td (obligated ) Tj ET Q
q 0 0 0 rg BT 253.33 512.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 263.55 512.30 Td (settle ) Tj ET Q
q 0 0 0 rg BT 287.77 512.30 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 351.65 512.30 Td (interests ) Tj ET Q
q 0 0 0 rg BT 388.70 512.30 Td (related ) Tj ET Q
q 0 0 0 rg BT 419.32 512.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 429.54 512.30 Td (certain ) Tj ET Q
q 0 0 0 rg BT 460.16 512.30 Td (af) Tj ET Q
q 0 0 0 rg BT 468.13 512.30 Td (filiates. ) Tj ET Q
q 0 0 0 rg BT 501.39 512.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 503.30 512.30 Td (The ) Tj ET Q
q 0 0 0 rg BT 521.68 512.30 Td (following ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 499.70 Td (table ) Tj ET Q
q 0 0 0 rg BT 73.11 499.70 Td (presents ) Tj ET Q
q 0 0 0 rg BT 110.73 499.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 118.60 499.70 Td (summary ) Tj ET Q
q 0 0 0 rg BT 160.89 499.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 172.84 499.70 Td (our ) Tj ET Q
q 0 0 0 rg BT 190.04 499.70 Td (af) Tj ET Q
q 0 0 0 rg BT 198.01 499.70 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 225.71 499.70 Td (redeemable ) Tj ET Q
q 0 0 0 rg BT 277.30 499.70 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 342.34 499.70 Td (interests ) Tj ET Q
q 0 0 0 rg BT 380.54 499.70 Td (\(in ) Tj ET Q
q 0 0 0 rg BT 395.41 499.70 Td (millions\), ) Tj ET Q
q 0 0 0 rg BT 439.16 499.70 Td (excluding ) Tj ET Q
q 0 0 0 rg BT 483.78 499.70 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 522.57 499.70 Td (related ) Tj ET Q
q 0 0 0 rg BT 554.34 499.70 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 487.10 Td (management ) Tj ET Q
q 0 0 0 rg BT 105.07 487.10 Td (equity ) Tj ET Q
q 0 0 0 rg BT 133.24 487.10 Td (plans, ) Tj ET Q
q 0 0 0 rg BT 159.96 487.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 170.63 487.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 181.30 487.10 Td (March ) Tj ET Q
q 0 0 0 rg BT 210.63 487.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 225.68 487.10 Td (2018. ) Tj ET Q
q 0 0 0 rg BT 251.23 487.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 253.02 487.10 Td (The ) Tj ET Q
q 0 0 0 rg BT 271.27 487.10 Td (ultimate ) Tj ET Q
q 0 0 0 rg BT 307.60 487.10 Td (timing ) Tj ET Q
q 0 0 0 rg BT 336.95 487.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 347.62 487.10 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 411.37 487.10 Td (interest ) Tj ET Q
q 0 0 0 rg BT 444.20 487.10 Td (settlements ) Tj ET Q
q 0 0 0 rg BT 493.37 487.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 508.11 487.10 Td (too ) Tj ET Q
q 0 0 0 rg BT 523.46 487.10 Td (uncertain ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 474.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.29 474.50 Td (project ) Tj ET Q
q 0 0 0 rg BT 92.07 474.50 Td (with ) Tj ET Q
q 0 0 0 rg BT 113.36 474.50 Td (any ) Tj ET Q
q 0 0 0 rg BT 131.15 474.50 Td (accuracy) Tj ET Q
q 0 0 0 rg BT 167.77 474.50 Td (.) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 438.00 153.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
203.00 438.00 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
207.00 438.00 72.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.00 438.00 5.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
284.00 438.00 67.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
351.00 438.00 5.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
356.00 438.00 70.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
426.00 438.00 5.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
431.00 438.00 65.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
496.00 438.00 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
500.00 438.00 61.00 -26.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 438 m
203 438 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
207 438 m
279 438 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
284 438 m
351 438 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
356 438 m
426 438 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
431 438 m
496 438 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
500 438 m
561 438 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 210.85 442.77 Td (EnT) Tj ET Q
q 0 0 0 rg BT 228.74 442.77 Td (rustPermal) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 301.25 453.27 Td (Clarion) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 299.75 442.77 Td (Partners) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 376.45 453.27 Td (RARE) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 361.90 442.77 Td (Infrastructure) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 451.00 442.77 Td (Other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 519.25 442.77 Td (T) Tj ET Q
q 0 0 0 rg BT 524.93 442.77 Td (otal) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 52.50 427.29 Td (Affiliate noncontr) Tj ET Q
q 0 0 0 rg BT 132.51 427.29 Td (olling inter) Tj ET Q
q 0 0 0 rg BT 181.61 427.29 Td (ests) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 61.50 416.79 Td (as of Mar) Tj ET Q
q 0 0 0 rg BT 104.46 416.79 Td (ch 31, 2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 209.50 416.79 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 251.35 416.79 Td (386.9) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 286.50 416.79 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 323.35 416.79 Td (1) Tj ET Q
q 0 0 0 rg BT 328.60 416.79 Td (17.3) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 358.50 416.79 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 403.60 416.79 Td (68.3) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 433.50 416.79 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 478.85 416.79 Td (1.5) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 502.50 416.79 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 533.35 416.79 Td (574.0) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 387.30 Td (On ) Tj ET Q
q 0 0 0 rg BT 64.32 387.30 Td (August ) Tj ET Q
q 0 0 0 rg BT 97.20 387.30 Td (17, ) Tj ET Q
q 0 0 0 rg BT 112.87 387.30 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 139.04 387.30 Td (we ) Tj ET Q
q 0 0 0 rg BT 153.83 387.30 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 192.52 387.30 Td (a ) Tj ET Q
q 0 0 0 rg BT 199.73 387.30 Td (majority ) Tj ET Q
q 0 0 0 rg BT 237.85 387.30 Td (interest ) Tj ET Q
q 0 0 0 rg BT 271.30 387.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 282.01 387.30 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 323.63 387.30 Td (Guard. ) Tj ET Q
q 0 0 0 rg BT 355.04 387.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 357.41 387.30 Td (The ) Tj ET Q
q 0 0 0 rg BT 376.28 387.30 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 424.90 387.30 Td (closing ) Tj ET Q
q 0 0 0 rg BT 457.78 387.30 Td (required ) Tj ET Q
q 0 0 0 rg BT 495.30 387.30 Td (a ) Tj ET Q
q 0 0 0 rg BT 502.51 387.30 Td (cash ) Tj ET Q
q 0 0 0 rg BT 523.71 387.30 Td (payment, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 374.70 Td (which ) Tj ET Q
q 0 0 0 rg BT 77.68 374.70 Td (was ) Tj ET Q
q 0 0 0 rg BT 96.53 374.70 Td (funded ) Tj ET Q
q 0 0 0 rg BT 128.21 374.70 Td (with ) Tj ET Q
q 0 0 0 rg BT 149.40 374.70 Td (existing ) Tj ET Q
q 0 0 0 rg BT 185.17 374.70 Td (cash ) Tj ET Q
q 0 0 0 rg BT 206.35 374.70 Td (resources. ) Tj ET Q
q 0 0 0 rg BT 251.14 374.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 253.66 374.70 Td (Contingent ) Tj ET Q
q 0 0 0 rg BT 302.85 374.70 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 361.94 374.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 373.21 374.70 Td (up ) Tj ET Q
q 0 0 0 rg BT 386.23 374.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 396.92 374.70 Td ($3 ) Tj ET Q
q 0 0 0 rg BT 409.94 374.70 Td (million ) Tj ET Q
q 0 0 0 rg BT 442.80 374.70 Td (was ) Tj ET Q
q 0 0 0 rg BT 461.65 374.70 Td (potentially ) Tj ET Q
q 0 0 0 rg BT 509.08 374.70 Td (due ) Tj ET Q
q 0 0 0 rg BT 526.76 374.70 Td (one ) Tj ET Q
q 0 0 0 rg BT 544.44 374.70 Td (year ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 362.10 Td (after ) Tj ET Q
q 0 0 0 rg BT 70.22 362.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 84.54 362.10 Td (closing ) Tj ET Q
q 0 0 0 rg BT 116.36 362.10 Td (date; ) Tj ET Q
q 0 0 0 rg BT 138.26 362.10 Td (however) Tj ET Q
q 0 0 0 rg BT 173.99 362.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 178.10 362.10 Td (no ) Tj ET Q
q 0 0 0 rg BT 190.09 362.10 Td (such ) Tj ET Q
q 0 0 0 rg BT 210.83 362.10 Td (payment ) Tj ET Q
q 0 0 0 rg BT 248.47 362.10 Td (was ) Tj ET Q
q 0 0 0 rg BT 266.29 362.10 Td (due ) Tj ET Q
q 0 0 0 rg BT 282.94 362.10 Td (based ) Tj ET Q
q 0 0 0 rg BT 308.34 362.10 Td (on ) Tj ET Q
q 0 0 0 rg BT 320.33 362.10 Td (relevant ) Tj ET Q
q 0 0 0 rg BT 355.63 362.10 Td (financial ) Tj ET Q
q 0 0 0 rg BT 393.85 362.10 Td (metrics. ) Tj ET Q
q 0 0 0 rg BT 428.87 362.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 430.25 362.10 Td (W) Tj ET Q
q 0 0 0 rg BT 439.32 362.10 Td (e ) Tj ET Q
q 0 0 0 rg BT 445.47 362.10 Td (also ) Tj ET Q
q 0 0 0 rg BT 463.88 362.10 Td (committed ) Tj ET Q
q 0 0 0 rg BT 510.27 362.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 519.93 362.10 Td (contribute ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 349.50 Td (up ) Tj ET Q
q 0 0 0 rg BT 61.48 349.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 71.12 349.50 Td ($5 ) Tj ET Q
q 0 0 0 rg BT 83.10 349.50 Td (million ) Tj ET Q
q 0 0 0 rg BT 114.91 349.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 125.13 349.50 Td (additional ) Tj ET Q
q 0 0 0 rg BT 168.60 349.50 Td (working ) Tj ET Q
q 0 0 0 rg BT 205.08 349.50 Td (capital ) Tj ET Q
q 0 0 0 rg BT 234.54 349.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 244.18 349.50 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 284.73 349.50 Td (Guard, ) Tj ET Q
q 0 0 0 rg BT 315.07 349.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 324.72 349.50 Td (be ) Tj ET Q
q 0 0 0 rg BT 336.10 349.50 Td (paid ) Tj ET Q
q 0 0 0 rg BT 355.66 349.50 Td (over ) Tj ET Q
q 0 0 0 rg BT 375.79 349.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 390.10 349.50 Td (two-year ) Tj ET Q
q 0 0 0 rg BT 428.89 349.50 Td (period ) Tj ET Q
q 0 0 0 rg BT 457.19 349.50 Td (following ) Tj ET Q
q 0 0 0 rg BT 499.50 349.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 513.80 349.50 Td (acquisition, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 336.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.87 336.90 Td (which ) Tj ET Q
q 0 0 0 rg BT 89.16 336.90 Td ($2.5 ) Tj ET Q
q 0 0 0 rg BT 110.16 336.90 Td (million ) Tj ET Q
q 0 0 0 rg BT 143.12 336.90 Td (has ) Tj ET Q
q 0 0 0 rg BT 159.74 336.90 Td (been ) Tj ET Q
q 0 0 0 rg BT 182.19 336.90 Td (paid ) Tj ET Q
q 0 0 0 rg BT 202.89 336.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 214.26 336.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 225.64 336.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 255.66 336.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 271.41 336.90 Td (2018.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 311.70 Td (On ) Tj ET Q
q 0 0 0 rg BT 64.36 311.70 Td (May ) Tj ET Q
q 0 0 0 rg BT 85.63 311.70 Td (2, ) Tj ET Q
q 0 0 0 rg BT 95.53 311.70 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 121.18 311.70 Td (we ) Tj ET Q
q 0 0 0 rg BT 135.45 311.70 Td (closed ) Tj ET Q
q 0 0 0 rg BT 164.30 311.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 179.15 311.70 Td (transaction ) Tj ET Q
q 0 0 0 rg BT 227.25 311.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 237.44 311.70 Td (combine ) Tj ET Q
q 0 0 0 rg BT 275.62 311.70 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 307.39 311.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 324.58 311.70 Td (EnT) Tj ET Q
q 0 0 0 rg BT 342.29 311.70 Td (rust, ) Tj ET Q
q 0 0 0 rg BT 362.69 311.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 372.88 311.70 Td (create ) Tj ET Q
q 0 0 0 rg BT 399.96 311.70 Td (EnT) Tj ET Q
q 0 0 0 rg BT 417.67 311.70 Td (rustPermal, ) Tj ET Q
q 0 0 0 rg BT 467.81 311.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 478.59 311.70 Td (which ) Tj ET Q
q 0 0 0 rg BT 506.27 311.70 Td (we ) Tj ET Q
q 0 0 0 rg BT 520.54 311.70 Td (own ) Tj ET Q
q 0 0 0 rg BT 540.65 311.70 Td (65%. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 299.10 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.99 299.10 Td (transaction ) Tj ET Q
q 0 0 0 rg BT 118.22 299.10 Td (required ) Tj ET Q
q 0 0 0 rg BT 156.36 299.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 164.18 299.10 Td (cash ) Tj ET Q
q 0 0 0 rg BT 186.00 299.10 Td (payment ) Tj ET Q
q 0 0 0 rg BT 225.32 299.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 237.23 299.10 Td ($400 ) Tj ET Q
q 0 0 0 rg BT 261.39 299.10 Td (million, ) Tj ET Q
q 0 0 0 rg BT 297.52 299.10 Td (which ) Tj ET Q
q 0 0 0 rg BT 326.34 299.10 Td (was ) Tj ET Q
q 0 0 0 rg BT 345.83 299.10 Td (funded ) Tj ET Q
q 0 0 0 rg BT 378.15 299.10 Td (with ) Tj ET Q
q 0 0 0 rg BT 399.98 299.10 Td (borrowings ) Tj ET Q
q 0 0 0 rg BT 450.97 299.10 Td (under ) Tj ET Q
q 0 0 0 rg BT 478.04 299.10 Td (our ) Tj ET Q
q 0 0 0 rg BT 495.20 299.10 Td (revolving ) Tj ET Q
q 0 0 0 rg BT 538.61 299.10 Td (credit ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 286.50 Td (facility) Tj ET Q
q 0 0 0 rg BT 78.56 286.50 Td (, ) Tj ET Q
q 0 0 0 rg BT 84.33 286.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 96.23 286.50 Td (well ) Tj ET Q
q 0 0 0 rg BT 117.46 286.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 129.36 286.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 137.17 286.50 Td (portion ) Tj ET Q
q 0 0 0 rg BT 170.65 286.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 182.55 286.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 198.52 286.50 Td (proceeds ) Tj ET Q
q 0 0 0 rg BT 238.99 286.50 Td (from ) Tj ET Q
q 0 0 0 rg BT 262.55 286.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 278.53 286.50 Td (2026 ) Tj ET Q
q 0 0 0 rg BT 302.68 286.50 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 330.33 286.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 348.64 286.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 364.62 286.50 Td (6.375% ) Tj ET Q
q 0 0 0 rg BT 400.14 286.50 Td (2056 ) Tj ET Q
q 0 0 0 rg BT 424.29 286.50 Td (Notes ) Tj ET Q
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q 0 0 0 rg BT 251.23 741.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 262.89 741.75 Td (Precidian's ) Tj ET Q
q 0 0 0 rg BT 311.43 741.75 Td (application ) Tj ET Q
q 0 0 0 rg BT 360.99 741.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 372.06 741.75 Td (operate ) Tj ET Q
q 0 0 0 rg BT 405.87 741.75 Td (its ) Tj ET Q
q 0 0 0 rg BT 418.05 741.75 Td (Active ) Tj ET Q
q 0 0 0 rg BT 448.95 741.75 Td (Shares) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 476.94 746.51 Td (SM) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 486.81 741.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 489.72 741.75 Td (product, ) Tj ET Q
q 0 0 0 rg BT 527.32 741.75 Td (we ) Tj ET Q
q 0 0 0 rg BT 542.48 741.75 Td (may) Tj ET Q
q 0 0 0 rg BT 559.87 741.75 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 729.15 Td (subject ) Tj ET Q
q 0 0 0 rg BT 81.91 729.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 92.75 729.15 Td (satisfaction ) Tj ET Q
q 0 0 0 rg BT 143.23 729.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 154.65 729.15 Td (certain ) Tj ET Q
q 0 0 0 rg BT 185.88 729.15 Td (closing ) Tj ET Q
q 0 0 0 rg BT 218.88 729.15 Td (conditions ) Tj ET Q
q 0 0 0 rg BT 265.30 729.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 283.12 729.15 Td (upon ) Tj ET Q
q 0 0 0 rg BT 306.79 729.15 Td (payment ) Tj ET Q
q 0 0 0 rg BT 345.61 729.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 357.03 729.15 Td (further ) Tj ET Q
q 0 0 0 rg BT 388.26 729.15 Td (consideration, ) Tj ET Q
q 0 0 0 rg BT 450.12 729.15 Td (convert ) Tj ET Q
q 0 0 0 rg BT 484.28 729.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 500.94 729.15 Td (preferred ) Tj ET Q
q 0 0 0 rg BT 542.08 729.15 Td (units ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 716.55 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 60.19 716.55 Td (75%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 79.43 716.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 81.95 716.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 93.21 716.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 108.56 716.55 Td (common ) Tj ET Q
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q 0 0 0 rg BT 176.59 716.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 187.85 716.55 Td (Precidian ) Tj ET Q
q 0 0 0 rg BT 230.02 716.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 243.04 716.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 250.22 716.55 Td (fully ) Tj ET Q
q 0 0 0 rg BT 272.57 716.55 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 304.25 716.55 Td (basis. ) Tj ET Q
q 0 0 0 rg BT 330.21 716.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 349.05 716.55 Td (equity ) Tj ET Q
q 0 0 0 rg BT 377.81 716.55 Td (conversion, ) Tj ET Q
q 0 0 0 rg BT 429.03 716.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 446.71 716.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 462.05 716.55 Td (put ) Tj ET Q
q 0 0 0 rg BT 477.99 716.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 495.66 716.55 Td (call ) Tj ET Q
q 0 0 0 rg BT 513.34 716.55 Td (options ) Tj ET Q
q 0 0 0 rg BT 546.78 716.55 Td (that ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 703.95 Td (would ) Tj ET Q
q 0 0 0 rg BT 78.38 703.95 Td (then ) Tj ET Q
q 0 0 0 rg BT 99.08 703.95 Td (attach ) Tj ET Q
q 0 0 0 rg BT 126.77 703.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 137.56 703.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 153.02 703.95 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 217.47 703.95 Td (interests ) Tj ET Q
q 0 0 0 rg BT 255.09 703.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 266.46 703.95 Td (25% ) Tj ET Q
q 0 0 0 rg BT 288.33 703.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 299.70 703.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 315.15 703.95 Td (outstanding ) Tj ET Q
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q 0 0 0 rg BT 395.65 703.95 Td (may ) Tj ET Q
q 0 0 0 rg BT 416.35 703.95 Td (result ) Tj ET Q
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q 0 0 0 rg BT 453.10 703.95 Td (future ) Tj ET Q
q 0 0 0 rg BT 480.79 703.95 Td (cash ) Tj ET Q
q 0 0 0 rg BT 502.08 703.95 Td (outlays.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.75 Td (On ) Tj ET Q
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q 0 0 0 rg BT 251.07 678.75 Td (certain ) Tj ET Q
q 0 0 0 rg BT 282.10 678.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 309.07 678.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 320.29 678.75 Td (PK ) Tj ET Q
q 0 0 0 rg BT 336.19 678.75 Td (Investments. ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.15 Td (initial ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 150.34 666.15 Td ($5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 160.84 666.15 Td ( ) Tj ET Q
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q 0 0 0 rg BT 271.29 666.15 Td (payment ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 211.48 653.55 Td (cash ) Tj ET Q
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q 0 0 0 rg BT 347.51 653.55 Td (consideration ) Tj ET Q
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q 0 0 0 rg BT 428.51 653.55 Td (be ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 640.95 Td (acquisition ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 147.11 615.75 Td (we ) Tj ET Q
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q 0 0 0 rg BT 249.95 615.75 Td (interest ) Tj ET Q
q 0 0 0 rg BT 284.41 615.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 296.14 615.75 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 327.69 615.75 Td (Infrastructure. ) Tj ET Q
q 0 0 0 rg BT 391.01 615.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 394.30 615.75 Td (The ) Tj ET Q
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q 0 0 0 rg BT 543.86 615.75 Td (cash ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (payment ) Tj ET Q
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q 0 0 0 rg BT 97.70 603.15 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 160.00 603.15 Td ($214 ) Tj ET Q
q 0 0 0 rg BT 182.65 603.15 Td (million ) Tj ET Q
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q 0 0 0 rg BT 469.74 603.15 Td (296 ) Tj ET Q
q 0 0 0 rg BT 487.14 603.15 Td (million ) Tj ET Q
q 0 0 0 rg BT 518.76 603.15 Td (Australian ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 472.73 590.55 Td (credit ) Tj ET Q
q 0 0 0 rg BT 499.09 590.55 Td (facility) Tj ET Q
q 0 0 0 rg BT 528.14 590.55 Td (, ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 161.52 577.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 163.63 577.95 Td (The ) Tj ET Q
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q 0 0 0 rg BT 316.18 577.95 Td (for ) Tj ET Q
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q 0 0 0 rg BT 369.71 577.95 Td (contingent ) Tj ET Q
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q 0 0 0 rg BT 535.10 577.95 Td (March ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (31, ) Tj ET Q
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q 0 0 0 rg BT 275.43 565.35 Td (due ) Tj ET Q
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q 0 0 0 rg BT 453.95 565.35 Td ( ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (million ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 414.95 489.75 Td (share ) Tj ET Q
q 0 0 0 rg BT 439.45 489.75 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 479.12 489.75 Td (agreement ) Tj ET Q
q 0 0 0 rg BT 525.19 489.75 Td (provided ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 63.48 477.15 Td (potential ) Tj ET Q
q 0 0 0 rg BT 101.96 477.15 Td (first, ) Tj ET Q
q 0 0 0 rg BT 123.24 477.15 Td (second, ) Tj ET Q
q 0 0 0 rg BT 156.76 477.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 173.66 477.15 Td (third ) Tj ET Q
q 0 0 0 rg BT 195.23 477.15 Td (anniversary ) Tj ET Q
q 0 0 0 rg BT 245.95 477.15 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 292.02 477.15 Td (payments ) Tj ET Q
q 0 0 0 rg BT 334.00 477.15 Td (due ) Tj ET Q
q 0 0 0 rg BT 350.90 477.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 361.38 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 371.87 477.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 401.01 477.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 415.88 477.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 441.24 477.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 466.61 477.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 483.51 477.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 508.87 477.15 Td (respectively; ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (however) Tj ET Q
q 0 0 0 rg BT 85.23 464.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 90.52 464.55 Td (no ) Tj ET Q
q 0 0 0 rg BT 103.69 464.55 Td (such ) Tj ET Q
q 0 0 0 rg BT 125.61 464.55 Td (payments ) Tj ET Q
q 0 0 0 rg BT 168.52 464.55 Td (were ) Tj ET Q
q 0 0 0 rg BT 191.59 464.55 Td (due ) Tj ET Q
q 0 0 0 rg BT 209.42 464.55 Td (based ) Tj ET Q
q 0 0 0 rg BT 235.99 464.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 249.16 464.55 Td (relevant ) Tj ET Q
q 0 0 0 rg BT 285.64 464.55 Td (financial ) Tj ET Q
q 0 0 0 rg BT 325.04 464.55 Td (metrics. ) Tj ET Q
q 0 0 0 rg BT 361.24 464.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 363.91 464.55 Td (In ) Tj ET Q
q 0 0 0 rg BT 375.33 464.55 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 415.03 464.55 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 446.28 464.55 Td (Currie ) Tj ET Q
q 0 0 0 rg BT 475.77 464.55 Td (has ) Tj ET Q
q 0 0 0 rg BT 492.44 464.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 499.77 464.55 Td (legacy ) Tj ET Q
q 0 0 0 rg BT 529.84 464.55 Td (pension ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (plan ) Tj ET Q
q 0 0 0 rg BT 70.61 451.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 89.38 451.95 Td (currently ) Tj ET Q
q 0 0 0 rg BT 130.31 451.95 Td (has ) Tj ET Q
q 0 0 0 rg BT 147.34 451.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 155.02 451.95 Td (shortfall ) Tj ET Q
q 0 0 0 rg BT 193.05 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 204.82 451.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 232.35 451.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 243.54 451.95 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 285.65 451.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 303.84 451.95 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 351.20 451.95 Td (payments ) Tj ET Q
q 0 0 0 rg BT 394.47 451.95 Td (earned ) Tj ET Q
q 0 0 0 rg BT 425.47 451.95 Td (would ) Tj ET Q
q 0 0 0 rg BT 454.75 451.95 Td (have ) Tj ET Q
q 0 0 0 rg BT 477.60 451.95 Td (first ) Tj ET Q
q 0 0 0 rg BT 497.55 451.95 Td (been ) Tj ET Q
q 0 0 0 rg BT 520.40 451.95 Td (applied ) Tj ET Q
q 0 0 0 rg BT 554.33 451.95 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (cover ) Tj ET Q
q 0 0 0 rg BT 75.92 439.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 94.77 439.35 Td (shortfall. ) Tj ET Q
q 0 0 0 rg BT 135.49 439.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 138.60 439.35 Td (In ) Tj ET Q
q 0 0 0 rg BT 150.45 439.35 Td (connection ) Tj ET Q
q 0 0 0 rg BT 199.62 439.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 221.39 439.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 229.16 439.35 Td (review ) Tj ET Q
q 0 0 0 rg BT 260.83 439.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 274.44 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 290.37 439.35 Td (Pensions ) Tj ET Q
q 0 0 0 rg BT 330.81 439.35 Td (Regulator ) Tj ET Q
q 0 0 0 rg BT 375.33 439.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 386.60 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 402.53 439.35 Td (U.K. ) Tj ET Q
q 0 0 0 rg BT 426.05 439.35 Td (\("the ) Tj ET Q
q 0 0 0 rg BT 449.77 439.35 Td (Regulator"\) ) Tj ET Q
q 0 0 0 rg BT 502.06 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 513.91 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 529.84 439.35 Td (pension ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (plan's ) Tj ET Q
q 0 0 0 rg BT 76.76 426.75 Td (current ) Tj ET Q
q 0 0 0 rg BT 109.70 426.75 Td (structure ) Tj ET Q
q 0 0 0 rg BT 149.65 426.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 168.01 426.75 Td (funding ) Tj ET Q
q 0 0 0 rg BT 203.88 426.75 Td (status, ) Tj ET Q
q 0 0 0 rg BT 233.63 426.75 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 265.42 426.75 Td (Currie, ) Tj ET Q
q 0 0 0 rg BT 298.08 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 314.11 426.75 Td (trustees ) Tj ET Q
q 0 0 0 rg BT 349.40 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 361.35 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 377.38 426.75 Td (pension ) Tj ET Q
q 0 0 0 rg BT 413.26 426.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 431.62 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 447.66 426.75 Td (Regulator ) Tj ET Q
q 0 0 0 rg BT 492.27 426.75 Td (have ) Tj ET Q
q 0 0 0 rg BT 515.30 426.75 Td (agreed ) Tj ET Q
q 0 0 0 rg BT 546.49 426.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 557.86 426.75 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (revised ) Tj ET Q
q 0 0 0 rg BT 83.84 414.15 Td (plan ) Tj ET Q
q 0 0 0 rg BT 105.93 414.15 Td (structure, ) Tj ET Q
q 0 0 0 rg BT 149.31 414.15 Td (including ) Tj ET Q
q 0 0 0 rg BT 192.98 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 209.83 414.15 Td (redomiciliation ) Tj ET Q
q 0 0 0 rg BT 277.99 414.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 290.76 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 307.60 414.15 Td (plan ) Tj ET Q
q 0 0 0 rg BT 329.69 414.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 341.87 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 358.72 414.15 Td (U.K., ) Tj ET Q
q 0 0 0 rg BT 385.77 414.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 431.78 414.15 Td (guarantees, ) Tj ET Q
q 0 0 0 rg BT 483.31 414.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 502.49 414.15 Td (provisions ) Tj ET Q
q 0 0 0 rg BT 550.26 414.15 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (accelerated ) Tj ET Q
q 0 0 0 rg BT 98.72 401.55 Td (funding ) Tj ET Q
q 0 0 0 rg BT 133.41 401.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 144.17 401.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 150.85 401.55 Td (portion ) Tj ET Q
q 0 0 0 rg BT 183.20 401.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 193.96 401.55 Td (any ) Tj ET Q
q 0 0 0 rg BT 211.14 401.55 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 255.73 401.55 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 286.90 401.55 Td (obligation ) Tj ET Q
q 0 0 0 rg BT 331.50 401.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 341.68 401.55 Td (certain ) Tj ET Q
q 0 0 0 rg BT 372.26 401.55 Td (circumstances. ) Tj ET Q
q 0 0 0 rg BT 436.38 401.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 438.40 401.55 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 468.99 401.55 Td (Currie ) Tj ET Q
q 0 0 0 rg BT 497.84 401.55 Td (has ) Tj ET Q
q 0 0 0 rg BT 513.85 401.55 Td (agreed ) Tj ET Q
q 0 0 0 rg BT 543.85 401.55 Td (with ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 66.09 388.95 Td (plan ) Tj ET Q
q 0 0 0 rg BT 87.94 388.95 Td (trustees ) Tj ET Q
q 0 0 0 rg BT 123.78 388.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 135.71 388.95 Td (contribute ) Tj ET Q
q 0 0 0 rg BT 182.05 388.95 Td ($3.3 ) Tj ET Q
q 0 0 0 rg BT 204.19 388.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 238.29 388.95 Td (\(using ) Tj ET Q
q 0 0 0 rg BT 268.31 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 284.90 388.95 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 328.31 388.95 Td (rate ) Tj ET Q
q 0 0 0 rg BT 347.81 388.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 360.32 388.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 372.84 388.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 404.01 388.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 420.90 388.95 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 445.66 388.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 461.67 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 478.26 388.95 Td (�2.3 ) Tj ET Q
q 0 0 0 rg BT 500.40 388.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 534.51 388.95 Td (annual ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (contribution ) Tj ET Q
q 0 0 0 rg BT 103.00 376.35 Td (amount\) ) Tj ET Q
q 0 0 0 rg BT 140.17 376.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 150.51 376.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 165.52 376.35 Td (plan ) Tj ET Q
q 0 0 0 rg BT 185.77 376.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 198.44 376.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 210.53 376.35 Td (annual ) Tj ET Q
q 0 0 0 rg BT 240.69 376.35 Td (basis, ) Tj ET Q
q 0 0 0 rg BT 266.50 376.35 Td (beginning ) Tj ET Q
q 0 0 0 rg BT 310.67 376.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 321.01 376.35 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 345.92 376.35 Td (2019 ) Tj ET Q
q 0 0 0 rg BT 369.10 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 386.44 376.35 Td (continuing ) Tj ET Q
q 0 0 0 rg BT 433.52 376.35 Td (through ) Tj ET Q
q 0 0 0 rg BT 468.36 376.35 Td (May ) Tj ET Q
q 0 0 0 rg BT 489.79 376.35 Td (2024, ) Tj ET Q
q 0 0 0 rg BT 515.59 376.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 536.43 376.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 543.27 376.35 Td (final ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (payment ) Tj ET Q
q 0 0 0 rg BT 88.44 363.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 99.97 363.75 Td ($2.1 ) Tj ET Q
q 0 0 0 rg BT 121.12 363.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 154.24 363.75 Td (\(using ) Tj ET Q
q 0 0 0 rg BT 183.27 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 198.88 363.75 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 241.31 363.75 Td (rate ) Tj ET Q
q 0 0 0 rg BT 259.82 363.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 271.35 363.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 282.88 363.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 313.06 363.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 328.97 363.75 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 352.75 363.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 367.78 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 383.38 363.75 Td (�1.5 ) Tj ET Q
q 0 0 0 rg BT 404.54 363.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 437.66 363.75 Td (final ) Tj ET Q
q 0 0 0 rg BT 459.68 363.75 Td (payment ) Tj ET Q
q 0 0 0 rg BT 498.62 363.75 Td (amount\) ) Tj ET Q
q 0 0 0 rg BT 536.39 363.75 Td (due ) Tj ET Q
q 0 0 0 rg BT 554.34 363.75 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (November ) Tj ET Q
q 0 0 0 rg BT 96.44 351.15 Td (2024.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (Ef) Tj ET Q
q 0 0 0 rg BT 59.22 325.95 Td (fective ) Tj ET Q
q 0 0 0 rg BT 89.83 325.95 Td (May ) Tj ET Q
q 0 0 0 rg BT 111.13 325.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 126.30 325.95 Td (2014, ) Tj ET Q
q 0 0 0 rg BT 151.97 325.95 Td (we ) Tj ET Q
q 0 0 0 rg BT 166.26 325.95 Td (completed ) Tj ET Q
q 0 0 0 rg BT 212.04 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 226.92 325.95 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 275.04 325.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 285.83 325.95 Td (QS ) Tj ET Q
q 0 0 0 rg BT 301.30 325.95 Td (Investors. ) Tj ET Q
q 0 0 0 rg BT 344.47 325.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 346.52 325.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 348.56 325.95 Td (In ) Tj ET Q
q 0 0 0 rg BT 358.91 325.95 Td (August ) Tj ET Q
q 0 0 0 rg BT 391.29 325.95 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 416.96 325.95 Td (we ) Tj ET Q
q 0 0 0 rg BT 431.25 325.95 Td (paid ) Tj ET Q
q 0 0 0 rg BT 451.38 325.95 Td ($6.6 ) Tj ET Q
q 0 0 0 rg BT 471.80 325.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 504.18 325.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 518.47 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 533.35 325.95 Td (second ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (anniversary ) Tj ET Q
q 0 0 0 rg BT 100.49 313.35 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 146.82 313.35 Td (consideration, ) Tj ET Q
q 0 0 0 rg BT 208.02 313.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 235.69 313.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 254.02 313.35 Td (funded ) Tj ET Q
q 0 0 0 rg BT 285.19 313.35 Td (from ) Tj ET Q
q 0 0 0 rg BT 307.61 313.35 Td (existing ) Tj ET Q
q 0 0 0 rg BT 342.86 313.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 363.53 313.35 Td (resources. ) Tj ET Q
q 0 0 0 rg BT 407.81 313.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 409.81 313.35 Td (In ) Tj ET Q
q 0 0 0 rg BT 420.57 313.35 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 459.61 313.35 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 505.95 313.35 Td (consideration ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.99 300.75 Td (up ) Tj ET Q
q 0 0 0 rg BT 74.23 300.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 85.13 300.75 Td ($20 ) Tj ET Q
q 0 0 0 rg BT 103.62 300.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 136.70 300.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 151.68 300.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 167.25 300.75 Td (fourth ) Tj ET Q
q 0 0 0 rg BT 195.65 300.75 Td (anniversary ) Tj ET Q
q 0 0 0 rg BT 247.37 300.75 Td (payment, ) Tj ET Q
q 0 0 0 rg BT 288.89 300.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 306.79 300.75 Td (up ) Tj ET Q
q 0 0 0 rg BT 320.03 300.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 330.93 300.75 Td ($3.4 ) Tj ET Q
q 0 0 0 rg BT 352.05 300.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 385.12 300.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 400.11 300.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 407.51 300.75 Td (potential ) Tj ET Q
q 0 0 0 rg BT 446.99 300.75 Td (catch-up ) Tj ET Q
q 0 0 0 rg BT 485.87 300.75 Td (adjustment ) Tj ET Q
q 0 0 0 rg BT 534.69 300.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 549.67 300.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (second ) Tj ET Q
q 0 0 0 rg BT 80.62 288.15 Td (anniversary ) Tj ET Q
q 0 0 0 rg BT 131.56 288.15 Td (payment ) Tj ET Q
q 0 0 0 rg BT 169.68 288.15 Td (shortfall, ) Tj ET Q
q 0 0 0 rg BT 209.26 288.15 Td (may ) Tj ET Q
q 0 0 0 rg BT 229.30 288.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 241.17 288.15 Td (due ) Tj ET Q
q 0 0 0 rg BT 258.30 288.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 268.43 288.15 Td (July ) Tj ET Q
q 0 0 0 rg BT 287.89 288.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 313.48 288.15 Td (dependent ) Tj ET Q
q 0 0 0 rg BT 358.59 288.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 371.05 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 385.85 288.15 Td (achievement ) Tj ET Q
q 0 0 0 rg BT 440.86 288.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 451.57 288.15 Td (certain ) Tj ET Q
q 0 0 0 rg BT 482.10 288.15 Td (net ) Tj ET Q
q 0 0 0 rg BT 496.89 288.15 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 532.08 288.15 Td (tar) Tj ET Q
q 0 0 0 rg BT 542.96 288.15 Td (gets. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 262.95 Td (In ) Tj ET Q
q 0 0 0 rg BT 61.53 262.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 92.22 262.95 Td (2013, ) Tj ET Q
q 0 0 0 rg BT 119.12 262.95 Td (we ) Tj ET Q
q 0 0 0 rg BT 134.65 262.95 Td (completed ) Tj ET Q
q 0 0 0 rg BT 181.67 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 197.78 262.95 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 247.14 262.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 259.17 262.95 Td (all ) Tj ET Q
q 0 0 0 rg BT 272.95 262.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 284.98 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 301.09 262.95 Td (outstanding ) Tj ET Q
q 0 0 0 rg BT 353.37 262.95 Td (share ) Tj ET Q
q 0 0 0 rg BT 378.81 262.95 Td (capital ) Tj ET Q
q 0 0 0 rg BT 410.07 262.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 422.10 262.95 Td (Fauchier) Tj ET Q
q 0 0 0 rg BT 458.26 262.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 464.17 262.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 467.45 262.95 Td (In ) Tj ET Q
q 0 0 0 rg BT 479.48 262.95 Td (May ) Tj ET Q
q 0 0 0 rg BT 502.01 262.95 Td (2015, ) Tj ET Q
q 0 0 0 rg BT 528.92 262.95 Td (we ) Tj ET Q
q 0 0 0 rg BT 544.44 262.95 Td (paid ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 250.35 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 96.26 250.35 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 155.26 250.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 166.45 250.35 Td ($22.8 ) Tj ET Q
q 0 0 0 rg BT 192.51 250.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 225.28 250.35 Td (\(using ) Tj ET Q
q 0 0 0 rg BT 253.97 250.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 269.23 250.35 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 311.31 250.35 Td (rate ) Tj ET Q
q 0 0 0 rg BT 329.49 250.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 340.67 250.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 351.85 250.35 Td (May ) Tj ET Q
q 0 0 0 rg BT 373.54 250.35 Td (5, ) Tj ET Q
q 0 0 0 rg BT 383.85 250.35 Td (2015\) ) Tj ET Q
q 0 0 0 rg BT 410.78 250.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 425.46 250.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 440.72 250.35 Td (second ) Tj ET Q
q 0 0 0 rg BT 472.32 250.35 Td (anniversary ) Tj ET Q
q 0 0 0 rg BT 523.73 250.35 Td (payment. ) Tj ET Q
q 0 0 0 rg BT 565.14 250.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 237.75 Td (No ) Tj ET Q
q 0 0 0 rg BT 64.96 237.75 Td (additional ) Tj ET Q
q 0 0 0 rg BT 109.57 237.75 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 156.52 237.75 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 215.72 237.75 Td (will ) Tj ET Q
q 0 0 0 rg BT 234.68 237.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 247.21 237.75 Td (paid ) Tj ET Q
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q 0 0 0 rg BT 360.75 515.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 374.92 515.10 Td (general ) Tj ET Q
q 0 0 0 rg BT 407.75 515.10 Td (operating ) Tj ET Q
q 0 0 0 rg BT 449.33 515.10 Td (purposes. ) Tj ET Q
q 0 0 0 rg BT 491.21 515.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 493.14 515.10 Td (Certain ) Tj ET Q
q 0 0 0 rg BT 525.98 515.10 Td (af) Tj ET Q
q 0 0 0 rg BT 533.94 515.10 Td (filiates ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.50 Td (are ) Tj ET Q
q 0 0 0 rg BT 64.04 502.50 Td (subject ) Tj ET Q
q 0 0 0 rg BT 95.51 502.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 105.41 502.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 119.96 502.50 Td (capital ) Tj ET Q
q 0 0 0 rg BT 149.67 502.50 Td (requirements ) Tj ET Q
q 0 0 0 rg BT 206.21 502.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 216.69 502.50 Td (various ) Tj ET Q
q 0 0 0 rg BT 249.32 502.50 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 294.20 502.50 Td (agencies. ) Tj ET Q
q 0 0 0 rg BT 334.70 502.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 336.04 502.50 Td (All ) Tj ET Q
q 0 0 0 rg BT 351.19 502.50 Td (such ) Tj ET Q
q 0 0 0 rg BT 372.16 502.50 Td (af) Tj ET Q
q 0 0 0 rg BT 380.13 502.50 Td (filiates ) Tj ET Q
q 0 0 0 rg BT 410.43 502.50 Td (met ) Tj ET Q
q 0 0 0 rg BT 427.90 502.50 Td (their ) Tj ET Q
q 0 0 0 rg BT 448.87 502.50 Td (respective ) Tj ET Q
q 0 0 0 rg BT 493.16 502.50 Td (capital ) Tj ET Q
q 0 0 0 rg BT 522.87 502.50 Td (adequacy ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.90 Td (requirements ) Tj ET Q
q 0 0 0 rg BT 106.94 489.90 Td (during ) Tj ET Q
q 0 0 0 rg BT 136.98 489.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 152.43 489.90 Td (periods ) Tj ET Q
q 0 0 0 rg BT 185.97 489.90 Td (presented.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.70 Td (In ) Tj ET Q
q 0 0 0 rg BT 60.08 464.70 Td (January ) Tj ET Q
q 0 0 0 rg BT 94.57 464.70 Td (2015, ) Tj ET Q
q 0 0 0 rg BT 120.04 464.70 Td (our ) Tj ET Q
q 0 0 0 rg BT 135.87 464.70 Td (Board ) Tj ET Q
q 0 0 0 rg BT 163.37 464.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 173.95 464.70 Td (Directors ) Tj ET Q
q 0 0 0 rg BT 214.86 464.70 Td (authorized ) Tj ET Q
q 0 0 0 rg BT 261.01 464.70 Td ($1.0 ) Tj ET Q
q 0 0 0 rg BT 281.22 464.70 Td (billion ) Tj ET Q
q 0 0 0 rg BT 310.48 464.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 324.56 464.70 Td (additional ) Tj ET Q
q 0 0 0 rg BT 368.38 464.70 Td (purchases ) Tj ET Q
q 0 0 0 rg BT 411.62 464.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 422.21 464.70 Td (our ) Tj ET Q
q 0 0 0 rg BT 438.04 464.70 Td (common ) Tj ET Q
q 0 0 0 rg BT 476.62 464.70 Td (stock. ) Tj ET Q
q 0 0 0 rg BT 503.25 464.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 504.68 464.70 Td (As ) Tj ET Q
q 0 0 0 rg BT 518.19 464.70 Td (previously ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 452.10 Td (discussed, ) Tj ET Q
q 0 0 0 rg BT 95.07 452.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 105.93 452.10 Td (December ) Tj ET Q
q 0 0 0 rg BT 151.76 452.10 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 178.08 452.10 Td (our ) Tj ET Q
q 0 0 0 rg BT 194.77 452.10 Td (Board ) Tj ET Q
q 0 0 0 rg BT 223.13 452.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 234.57 452.10 Td (Directors ) Tj ET Q
q 0 0 0 rg BT 276.33 452.10 Td (approved ) Tj ET Q
q 0 0 0 rg BT 318.09 452.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 333.62 452.10 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 373.63 452.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 385.07 452.10 Td ($225.5 ) Tj ET Q
q 0 0 0 rg BT 416.64 452.10 Td (million ) Tj ET Q
q 0 0 0 rg BT 449.67 452.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 461.11 452.10 Td (our ) Tj ET Q
q 0 0 0 rg BT 477.80 452.10 Td (common ) Tj ET Q
q 0 0 0 rg BT 517.24 452.10 Td (stock ) Tj ET Q
q 0 0 0 rg BT 542.10 452.10 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.50 Td (Shanda, ) Tj ET Q
q 0 0 0 rg BT 86.10 439.50 Td (utilizing ) Tj ET Q
q 0 0 0 rg BT 124.17 439.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 140.07 439.50 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 185.71 439.50 Td ($169.0 ) Tj ET Q
q 0 0 0 rg BT 217.65 439.50 Td (million ) Tj ET Q
q 0 0 0 rg BT 251.06 439.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 262.87 439.50 Td (common ) Tj ET Q
q 0 0 0 rg BT 302.68 439.50 Td (stock ) Tj ET Q
q 0 0 0 rg BT 327.92 439.50 Td (available ) Tj ET Q
q 0 0 0 rg BT 368.88 439.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 384.19 439.50 Td (repurchase ) Tj ET Q
q 0 0 0 rg BT 432.73 439.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 444.55 439.50 Td (authorized ) Tj ET Q
q 0 0 0 rg BT 491.93 439.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 503.17 439.50 Td (January ) Tj ET Q
q 0 0 0 rg BT 538.89 439.50 Td (2015, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.11 426.90 Td (authorizing ) Tj ET Q
q 0 0 0 rg BT 117.39 426.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 132.67 426.90 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 172.43 426.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 183.63 426.90 Td (an ) Tj ET Q
q 0 0 0 rg BT 195.99 426.90 Td (additional ) Tj ET Q
q 0 0 0 rg BT 240.44 426.90 Td ($56.5 ) Tj ET Q
q 0 0 0 rg BT 266.51 426.90 Td (million ) Tj ET Q
q 0 0 0 rg BT 299.30 426.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 310.50 426.90 Td (common ) Tj ET Q
q 0 0 0 rg BT 349.70 426.90 Td (stock ) Tj ET Q
q 0 0 0 rg BT 374.32 426.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 384.94 426.90 Td (complete ) Tj ET Q
q 0 0 0 rg BT 425.87 426.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 441.15 426.90 Td (transaction. ) Tj ET Q
q 0 0 0 rg BT 492.30 426.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 494.21 426.90 Td (As ) Tj ET Q
q 0 0 0 rg BT 508.33 426.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 519.53 426.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 549.39 426.90 Td (31, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.30 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 75.75 414.30 Td (further ) Tj ET Q
q 0 0 0 rg BT 106.94 414.30 Td (purchases ) Tj ET Q
q 0 0 0 rg BT 150.97 414.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 162.34 414.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 178.96 414.30 Td (common ) Tj ET Q
q 0 0 0 rg BT 218.33 414.30 Td (stock ) Tj ET Q
q 0 0 0 rg BT 243.12 414.30 Td (have ) Tj ET Q
q 0 0 0 rg BT 265.57 414.30 Td (not ) Tj ET Q
q 0 0 0 rg BT 281.61 414.30 Td (been ) Tj ET Q
q 0 0 0 rg BT 304.06 414.30 Td (authorized. ) Tj ET Q
q 0 0 0 rg BT 353.62 414.30 Td ( ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 389.10 Td (Futur) Tj ET Q
q 0 0 0 rg BT 75.56 389.10 Td (e ) Tj ET Q
q 0 0 0 rg BT 82.85 389.10 Td (Outlook) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.50 Td (As ) Tj ET Q
q 0 0 0 rg BT 64.15 376.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 75.88 376.50 Td (March ) Tj ET Q
q 0 0 0 rg BT 106.27 376.50 Td (31, ) Tj ET Q
q 0 0 0 rg BT 122.38 376.50 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 148.98 376.50 Td (we ) Tj ET Q
q 0 0 0 rg BT 164.21 376.50 Td (had ) Tj ET Q
q 0 0 0 rg BT 182.35 376.50 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 245.98 376.50 Td ($460�million ) Tj ET Q
q 0 0 0 rg BT 302.93 376.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 314.08 376.50 Td (cash ) Tj ET Q
q 0 0 0 rg BT 335.72 376.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 353.86 376.50 Td (cash ) Tj ET Q
q 0 0 0 rg BT 375.50 376.50 Td (equivalents ) Tj ET Q
q 0 0 0 rg BT 426.30 376.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 437.45 376.50 Td (excess ) Tj ET Q
q 0 0 0 rg BT 467.84 376.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 479.57 376.50 Td (our ) Tj ET Q
q 0 0 0 rg BT 496.55 376.50 Td (working ) Tj ET Q
q 0 0 0 rg BT 534.53 376.50 Td (capital ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 66.03 363.90 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 110.55 363.90 Td (requirements. ) Tj ET Q
q 0 0 0 rg BT 169.35 363.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 170.62 363.90 Td (The ) Tj ET Q
q 0 0 0 rg BT 188.31 363.90 Td ($460 ) Tj ET Q
q 0 0 0 rg BT 210.68 363.90 Td (million ) Tj ET Q
q 0 0 0 rg BT 242.39 363.90 Td (includes ) Tj ET Q
q 0 0 0 rg BT 278.75 363.90 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 315.70 363.90 Td (expected ) Tj ET Q
q 0 0 0 rg BT 354.37 363.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 363.91 363.90 Td (be ) Tj ET Q
q 0 0 0 rg BT 375.19 363.90 Td (used ) Tj ET Q
q 0 0 0 rg BT 395.80 363.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 405.34 363.90 Td (fund ) Tj ET Q
q 0 0 0 rg BT 425.95 363.90 Td (accrued ) Tj ET Q
q 0 0 0 rg BT 459.96 363.90 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 519.65 363.90 Td (payments, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.30 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 90.84 351.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 101.28 351.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 116.38 351.30 Td (first ) Tj ET Q
q 0 0 0 rg BT 135.56 351.30 Td (quarter ) Tj ET Q
q 0 0 0 rg BT 167.57 351.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 178.58 351.30 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 203.59 351.30 Td (2019. ) Tj ET Q
q 0 0 0 rg BT 229.49 351.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 231.76 351.30 Td (Excluding ) Tj ET Q
q 0 0 0 rg BT 277.19 351.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 292.28 351.30 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 331.87 351.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 342.89 351.30 Td (shares ) Tj ET Q
q 0 0 0 rg BT 371.40 351.30 Td (from ) Tj ET Q
q 0 0 0 rg BT 394.08 351.30 Td (Shanda ) Tj ET Q
q 0 0 0 rg BT 427.26 351.30 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 469.78 351.30 Td (below) Tj ET Q
q 0 0 0 rg BT 494.76 351.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 499.65 351.30 Td (during ) Tj ET Q
q 0 0 0 rg BT 529.33 351.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 544.43 351.30 Td (year ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.70 Td (ended ) Tj ET Q
q 0 0 0 rg BT 75.90 338.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 104.62 338.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 119.07 338.70 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 144.02 338.70 Td (we ) Tj ET Q
q 0 0 0 rg BT 157.59 338.70 Td (retired ) Tj ET Q
q 0 0 0 rg BT 186.31 338.70 Td ($266.9 ) Tj ET Q
q 0 0 0 rg BT 216.51 338.70 Td (million ) Tj ET Q
q 0 0 0 rg BT 248.17 338.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 258.25 338.70 Td (shares, ) Tj ET Q
q 0 0 0 rg BT 288.44 338.70 Td (including ) Tj ET Q
q 0 0 0 rg BT 329.42 338.70 Td ($13.2 ) Tj ET Q
q 0 0 0 rg BT 354.37 338.70 Td (million ) Tj ET Q
q 0 0 0 rg BT 386.03 338.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 396.10 338.70 Td (shares ) Tj ET Q
q 0 0 0 rg BT 423.67 338.70 Td (retired ) Tj ET Q
q 0 0 0 rg BT 452.39 338.70 Td (under ) Tj ET Q
q 0 0 0 rg BT 477.62 338.70 Td (net ) Tj ET Q
q 0 0 0 rg BT 491.78 338.70 Td (share ) Tj ET Q
q 0 0 0 rg BT 515.26 338.70 Td (settlements ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 326.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 64.03 326.10 Td (annual ) Tj ET Q
q 0 0 0 rg BT 94.30 326.10 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 131.56 326.10 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 192.17 326.10 Td (award ) Tj ET Q
q 0 0 0 rg BT 220.10 326.10 Td (vesting, ) Tj ET Q
q 0 0 0 rg BT 255.34 326.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 272.79 326.10 Td (made ) Tj ET Q
q 0 0 0 rg BT 297.81 326.10 Td (dividend ) Tj ET Q
q 0 0 0 rg BT 336.84 326.10 Td (payments ) Tj ET Q
q 0 0 0 rg BT 379.37 326.10 Td (totaling ) Tj ET Q
q 0 0 0 rg BT 413.74 326.10 Td ($102.2 ) Tj ET Q
q 0 0 0 rg BT 444.90 326.10 Td (million. ) Tj ET Q
q 0 0 0 rg BT 480.15 326.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 482.43 326.10 Td (In ) Tj ET Q
q 0 0 0 rg BT 493.46 326.10 Td (December ) Tj ET Q
q 0 0 0 rg BT 538.89 326.10 Td (2017, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.50 Td (we ) Tj ET Q
q 0 0 0 rg BT 65.00 313.50 Td (purchased ) Tj ET Q
q 0 0 0 rg BT 110.83 313.50 Td (5.6 ) Tj ET Q
q 0 0 0 rg BT 127.21 313.50 Td (million ) Tj ET Q
q 0 0 0 rg BT 160.81 313.50 Td (shares ) Tj ET Q
q 0 0 0 rg BT 190.31 313.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 202.31 313.50 Td (our ) Tj ET Q
q 0 0 0 rg BT 219.57 313.50 Td (common ) Tj ET Q
q 0 0 0 rg BT 259.57 313.50 Td (stock ) Tj ET Q
q 0 0 0 rg BT 285.00 313.50 Td (from ) Tj ET Q
q 0 0 0 rg BT 308.67 313.50 Td (Shanda ) Tj ET Q
q 0 0 0 rg BT 342.84 313.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 358.34 313.50 Td ($225.5 ) Tj ET Q
q 0 0 0 rg BT 390.48 313.50 Td (million, ) Tj ET Q
q 0 0 0 rg BT 426.70 313.50 Td (which ) Tj ET Q
q 0 0 0 rg BT 455.62 313.50 Td (was ) Tj ET Q
q 0 0 0 rg BT 475.21 313.50 Td (funded ) Tj ET Q
q 0 0 0 rg BT 507.62 313.50 Td (using ) Tj ET Q
q 0 0 0 rg BT 533.64 313.50 Td ($225.5 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.90 Td (million ) Tj ET Q
q 0 0 0 rg BT 81.55 300.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 92.01 300.90 Td (borrowings ) Tj ET Q
q 0 0 0 rg BT 141.55 300.90 Td (under ) Tj ET Q
q 0 0 0 rg BT 167.17 300.90 Td (our ) Tj ET Q
q 0 0 0 rg BT 182.88 300.90 Td (Credit ) Tj ET Q
q 0 0 0 rg BT 210.46 300.90 Td (Agreement. ) Tj ET Q
q 0 0 0 rg BT 261.44 300.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 263.03 300.90 Td (The ) Tj ET Q
q 0 0 0 rg BT 281.07 300.90 Td (aggregate ) Tj ET Q
q 0 0 0 rg BT 323.59 300.90 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 362.62 300.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 373.08 300.90 Td ($225.5 ) Tj ET Q
q 0 0 0 rg BT 403.66 300.90 Td (million ) Tj ET Q
q 0 0 0 rg BT 435.71 300.90 Td (was ) Tj ET Q
q 0 0 0 rg BT 453.75 300.90 Td (ef) Tj ET Q
q 0 0 0 rg BT 461.72 300.90 Td (fectively ) Tj ET Q
q 0 0 0 rg BT 500.17 300.90 Td (an ) Tj ET Q
q 0 0 0 rg BT 511.79 300.90 Td (acceleration ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.80 288.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 79.35 288.30 Td (share ) Tj ET Q
q 0 0 0 rg BT 105.06 288.30 Td (repurchase ) Tj ET Q
q 0 0 0 rg BT 154.08 288.30 Td (program. ) Tj ET Q
q 0 0 0 rg BT 195.83 288.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 199.39 288.30 Td (In ) Tj ET Q
q 0 0 0 rg BT 211.69 288.30 Td (March ) Tj ET Q
q 0 0 0 rg BT 242.64 288.30 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 269.82 288.30 Td (we ) Tj ET Q
q 0 0 0 rg BT 285.62 288.30 Td (applied ) Tj ET Q
q 0 0 0 rg BT 320.08 288.30 Td (funds ) Tj ET Q
q 0 0 0 rg BT 346.96 288.30 Td (that ) Tj ET Q
q 0 0 0 rg BT 366.26 288.30 Td (otherwise ) Tj ET Q
q 0 0 0 rg BT 410.64 288.30 Td (would ) Tj ET Q
q 0 0 0 rg BT 440.44 288.30 Td (have ) Tj ET Q
q 0 0 0 rg BT 463.82 288.30 Td (been ) Tj ET Q
q 0 0 0 rg BT 487.19 288.30 Td (allocated ) Tj ET Q
q 0 0 0 rg BT 528.64 288.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 540.36 288.30 Td (share ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.70 Td (repurchases ) Tj ET Q
q 0 0 0 rg BT 102.00 275.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 113.11 275.70 Td (repay ) Tj ET Q
q 0 0 0 rg BT 139.37 275.70 Td ($100 ) Tj ET Q
q 0 0 0 rg BT 163.32 275.70 Td (million ) Tj ET Q
q 0 0 0 rg BT 196.60 275.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 208.29 275.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 224.06 275.70 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 262.58 275.70 Td (borrowed ) Tj ET Q
q 0 0 0 rg BT 305.76 275.70 Td (under ) Tj ET Q
q 0 0 0 rg BT 332.61 275.70 Td (our ) Tj ET Q
q 0 0 0 rg BT 349.55 275.70 Td (Credit ) Tj ET Q
q 0 0 0 rg BT 378.09 275.70 Td (Agreement ) Tj ET Q
q 0 0 0 rg BT 427.68 275.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 438.79 275.70 Td (connection ) Tj ET Q
q 0 0 0 rg BT 487.80 275.70 Td (with ) Tj ET Q
q 0 0 0 rg BT 509.41 275.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 525.18 275.70 Td (purchase ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 263.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.05 263.10 Td (shares ) Tj ET Q
q 0 0 0 rg BT 90.09 263.10 Td (from ) Tj ET Q
q 0 0 0 rg BT 113.30 263.10 Td (Shanda. ) Tj ET Q
q 0 0 0 rg BT 149.64 263.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 151.82 263.10 Td (After ) Tj ET Q
q 0 0 0 rg BT 176.78 263.10 Td (payment ) Tj ET Q
q 0 0 0 rg BT 215.74 263.10 Td (from ) Tj ET Q
q 0 0 0 rg BT 238.95 263.10 Td (available ) Tj ET Q
q 0 0 0 rg BT 279.65 263.10 Td (cash ) Tj ET Q
q 0 0 0 rg BT 301.11 263.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 312.66 263.10 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 351.04 263.10 Td (required ) Tj ET Q
q 0 0 0 rg BT 388.82 263.10 Td (by ) Tj ET Q
q 0 0 0 rg BT 402.13 263.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 417.75 263.10 Td (resolution ) Tj ET Q
q 0 0 0 rg BT 462.55 263.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 474.10 263.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 489.73 263.10 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 535.68 263.10 Td (matter ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 250.50 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 91.87 250.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 102.16 250.50 Td (Subsequent ) Tj ET Q
q 0 0 0 rg BT 152.70 250.50 Td (Event, ) Tj ET Q
q 0 0 0 rg BT 181.94 250.50 Td (Note ) Tj ET Q
q 0 0 0 rg BT 204.48 250.50 Td (18 ) Tj ET Q
q 0 0 0 rg BT 217.10 250.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 227.97 250.50 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 254.60 250.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 264.89 250.50 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 322.42 250.50 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 363.62 250.50 Td (Statements, ) Tj ET Q
q 0 0 0 rg BT 414.45 250.50 Td (we ) Tj ET Q
q 0 0 0 rg BT 428.82 250.50 Td (plan ) Tj ET Q
q 0 0 0 rg BT 449.02 250.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 459.31 250.50 Td (continue ) Tj ET Q
q 0 0 0 rg BT 497.59 250.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 507.88 250.50 Td (apply ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 312.98 729.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 323.77 729.15 Td (raise ) Tj ET Q
q 0 0 0 rg BT 346.22 729.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 390.84 729.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 419.71 729.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 431.08 729.15 Td (debt.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 703.95 Td (Our ) Tj ET Q
q 0 0 0 rg BT 68.35 703.95 Td (liquid ) Tj ET Q
q 0 0 0 rg BT 95.37 703.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 122.39 703.95 Td (include ) Tj ET Q
q 0 0 0 rg BT 155.82 703.95 Td (cash, ) Tj ET Q
q 0 0 0 rg BT 179.62 703.95 Td (cash ) Tj ET Q
q 0 0 0 rg BT 200.80 703.95 Td (equivalents, ) Tj ET Q
q 0 0 0 rg BT 253.77 703.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 271.45 703.95 Td (certain ) Tj ET Q
q 0 0 0 rg BT 302.54 703.95 Td (current ) Tj ET Q
q 0 0 0 rg BT 334.79 703.95 Td (investment ) Tj ET Q
q 0 0 0 rg BT 383.39 703.95 Td (securities. ) Tj ET Q
q 0 0 0 rg BT 428.19 703.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 430.15 703.95 Td (As ) Tj ET Q
q 0 0 0 rg BT 444.34 703.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 455.61 703.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 485.54 703.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 501.18 703.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 527.33 703.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 543.84 703.95 Td (total ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 691.35 Td (liquid ) Tj ET Q
q 0 0 0 rg BT 75.75 691.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 102.00 691.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 112.50 691.35 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 174.90 691.35 Td ($942 ) Tj ET Q
q 0 0 0 rg BT 197.66 691.35 Td (million, ) Tj ET Q
q 0 0 0 rg BT 232.37 691.35 Td (included ) Tj ET Q
q 0 0 0 rg BT 270.28 691.35 Td ($368 ) Tj ET Q
q 0 0 0 rg BT 293.03 691.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 325.12 691.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 335.62 691.35 Td (cash, ) Tj ET Q
q 0 0 0 rg BT 358.65 691.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 379.06 691.35 Td (equivalents, ) Tj ET Q
q 0 0 0 rg BT 431.26 691.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 448.17 691.35 Td (investments ) Tj ET Q
q 0 0 0 rg BT 500.09 691.35 Td (held ) Tj ET Q
q 0 0 0 rg BT 519.92 691.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 532.17 691.35 Td (foreign ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.75 Td (subsidiaries. ) Tj ET Q
q 0 0 0 rg BT 104.48 678.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 107.25 678.75 Td (Other ) Tj ET Q
q 0 0 0 rg BT 133.94 678.75 Td (net ) Tj ET Q
q 0 0 0 rg BT 149.54 678.75 Td (working ) Tj ET Q
q 0 0 0 rg BT 187.31 678.75 Td (capital ) Tj ET Q
q 0 0 0 rg BT 218.07 678.75 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 256.43 678.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 267.95 678.75 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 301.05 678.75 Td (subsidiaries ) Tj ET Q
q 0 0 0 rg BT 353.40 678.75 Td (were ) Tj ET Q
q 0 0 0 rg BT 376.58 678.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 392.77 678.75 Td (significant. ) Tj ET Q
q 0 0 0 rg BT 442.49 678.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 445.27 678.75 Td (In ) Tj ET Q
q 0 0 0 rg BT 456.79 678.75 Td (order ) Tj ET Q
q 0 0 0 rg BT 481.72 678.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 492.66 678.75 Td (supplement ) Tj ET Q
q 0 0 0 rg BT 543.85 678.75 Td (cash ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.15 Td (available ) Tj ET Q
q 0 0 0 rg BT 90.81 666.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 102.39 666.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 118.63 666.15 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 140.72 666.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 156.37 666.15 Td (general ) Tj ET Q
q 0 0 0 rg BT 190.68 666.15 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 233.74 666.15 Td (purposes, ) Tj ET Q
q 0 0 0 rg BT 277.10 666.15 Td (we ) Tj ET Q
q 0 0 0 rg BT 292.76 666.15 Td (plan ) Tj ET Q
q 0 0 0 rg BT 314.25 666.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 325.83 666.15 Td (utilize ) Tj ET Q
q 0 0 0 rg BT 355.49 666.15 Td (up ) Tj ET Q
q 0 0 0 rg BT 369.40 666.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 380.98 666.15 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 445.04 666.15 Td ($24 ) Tj ET Q
q 0 0 0 rg BT 464.21 666.15 Td (million ) Tj ET Q
q 0 0 0 rg BT 497.96 666.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 510.12 666.15 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 543.85 666.15 Td (cash ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 653.55 Td (annually ) Tj ET Q
q 0 0 0 rg BT 88.02 653.55 Td (over ) Tj ET Q
q 0 0 0 rg BT 109.05 653.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 124.24 653.55 Td (next ) Tj ET Q
q 0 0 0 rg BT 144.68 653.55 Td (several ) Tj ET Q
q 0 0 0 rg BT 176.78 653.55 Td (years, ) Tj ET Q
q 0 0 0 rg BT 203.93 653.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 221.46 653.55 Td (anticipate ) Tj ET Q
q 0 0 0 rg BT 264.63 653.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 282.75 653.55 Td ($12 ) Tj ET Q
q 0 0 0 rg BT 300.86 653.55 Td (million ) Tj ET Q
q 0 0 0 rg BT 333.57 653.55 Td (will ) Tj ET Q
q 0 0 0 rg BT 352.27 653.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 364.54 653.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 375.08 653.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 390.27 653.55 Td (form ) Tj ET Q
q 0 0 0 rg BT 413.05 653.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 424.16 653.55 Td (debt ) Tj ET Q
q 0 0 0 rg BT 444.61 653.55 Td (service ) Tj ET Q
q 0 0 0 rg BT 476.71 653.55 Td (payments ) Tj ET Q
q 0 0 0 rg BT 519.31 653.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 532.18 653.55 Td (foreign ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 640.95 Td (af) Tj ET Q
q 0 0 0 rg BT 57.47 640.95 Td (filiates, ) Tj ET Q
q 0 0 0 rg BT 91.68 640.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 113.35 640.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 129.19 640.95 Td (remainder ) Tj ET Q
q 0 0 0 rg BT 174.76 640.95 Td (provided ) Tj ET Q
q 0 0 0 rg BT 215.09 640.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 238.51 640.95 Td (distribution ) Tj ET Q
q 0 0 0 rg BT 289.94 640.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 301.69 640.95 Td (forecasted ) Tj ET Q
q 0 0 0 rg BT 347.84 640.95 Td (future ) Tj ET Q
q 0 0 0 rg BT 375.92 640.95 Td (of) Tj ET Q
q 0 0 0 rg BT 384.48 640.95 Td (fshore ) Tj ET Q
q 0 0 0 rg BT 413.73 640.95 Td (earnings. ) Tj ET Q
q 0 0 0 rg BT 454.93 640.95 Td (No ) Tj ET Q
q 0 0 0 rg BT 470.77 640.95 Td (further ) Tj ET Q
q 0 0 0 rg BT 502.35 640.95 Td (repatriation ) Tj ET Q
q 0 0 0 rg BT 553.75 640.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.35 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 82.45 628.35 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 120.64 628.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 130.27 628.35 Td (currently ) Tj ET Q
q 0 0 0 rg BT 170.80 628.35 Td (planned. ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (Cr) Tj ET Q
q 0 0 0 rg BT 61.55 603.15 Td (edit ) Tj ET Q
q 0 0 0 rg BT 81.09 603.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 100.65 603.15 Td (Liquidity ) Tj ET Q
q 0 0 0 rg BT 145.29 603.15 Td (Risk) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 72.58 590.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 89.83 590.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 110.57 590.55 Td (equivalent ) Tj ET Q
q 0 0 0 rg BT 156.39 590.55 Td (deposits ) Tj ET Q
q 0 0 0 rg BT 192.89 590.55 Td (involve ) Tj ET Q
q 0 0 0 rg BT 226.47 590.55 Td (certain ) Tj ET Q
q 0 0 0 rg BT 257.11 590.55 Td (credit ) Tj ET Q
q 0 0 0 rg BT 283.10 590.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 300.34 590.55 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 338.01 590.55 Td (risks. ) Tj ET Q
q 0 0 0 rg BT 362.56 590.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 364.49 590.55 Td (W) Tj ET Q
q 0 0 0 rg BT 373.56 590.55 Td (e ) Tj ET Q
q 0 0 0 rg BT 380.30 590.55 Td (maintain ) Tj ET Q
q 0 0 0 rg BT 419.13 590.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 435.21 590.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 455.95 590.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 473.19 590.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 493.93 590.55 Td (equivalents ) Tj ET Q
q 0 0 0 rg BT 543.84 590.55 Td (with ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 56.59 577.95 Td (number ) Tj ET Q
q 0 0 0 rg BT 91.10 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 102.28 577.95 Td (high ) Tj ET Q
q 0 0 0 rg BT 123.39 577.95 Td (quality ) Tj ET Q
q 0 0 0 rg BT 154.98 577.95 Td (financial ) Tj ET Q
q 0 0 0 rg BT 194.15 577.95 Td (institutions ) Tj ET Q
q 0 0 0 rg BT 243.26 577.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 254.44 577.95 Td (funds ) Tj ET Q
q 0 0 0 rg BT 280.21 577.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 297.80 577.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 320.65 577.95 Td (time ) Tj ET Q
q 0 0 0 rg BT 341.74 577.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 352.35 577.95 Td (time ) Tj ET Q
q 0 0 0 rg BT 373.44 577.95 Td (may ) Tj ET Q
q 0 0 0 rg BT 393.96 577.95 Td (have ) Tj ET Q
q 0 0 0 rg BT 416.21 577.95 Td (concentrations ) Tj ET Q
q 0 0 0 rg BT 479.87 577.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 500.97 577.95 Td (one ) Tj ET Q
q 0 0 0 rg BT 518.57 577.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 529.75 577.95 Td (more ) Tj ET Q
q 0 0 0 rg BT 553.76 577.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (these ) Tj ET Q
q 0 0 0 rg BT 72.96 565.35 Td (institutions. ) Tj ET Q
q 0 0 0 rg BT 124.15 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 125.89 565.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 144.10 565.35 Td (balances ) Tj ET Q
q 0 0 0 rg BT 182.13 565.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 202.69 565.35 Td (these ) Tj ET Q
q 0 0 0 rg BT 226.15 565.35 Td (financial ) Tj ET Q
q 0 0 0 rg BT 264.76 565.35 Td (institutions ) Tj ET Q
q 0 0 0 rg BT 313.32 565.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 323.95 565.35 Td (funds ) Tj ET Q
q 0 0 0 rg BT 349.17 565.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 366.22 565.35 Td (their ) Tj ET Q
q 0 0 0 rg BT 387.34 565.35 Td (credit ) Tj ET Q
q 0 0 0 rg BT 413.13 565.35 Td (quality ) Tj ET Q
q 0 0 0 rg BT 444.18 565.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 458.88 565.35 Td (monitored ) Tj ET Q
q 0 0 0 rg BT 503.92 565.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 516.31 565.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 528.10 565.35 Td (ongoing ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (basis.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (Off-Balance ) Tj ET Q
q 0 0 0 rg BT 106.36 527.55 Td (Sheet ) Tj ET Q
q 0 0 0 rg BT 132.91 527.55 Td (Arrangements) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (Of) Tj ET Q
q 0 0 0 rg BT 60.39 514.95 Td (f-balance ) Tj ET Q
q 0 0 0 rg BT 100.76 514.95 Td (sheet ) Tj ET Q
q 0 0 0 rg BT 123.65 514.95 Td (arrangements, ) Tj ET Q
q 0 0 0 rg BT 184.15 514.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 194.21 514.95 Td (defined ) Tj ET Q
q 0 0 0 rg BT 227.02 514.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 238.83 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 252.98 514.95 Td (SEC, ) Tj ET Q
q 0 0 0 rg BT 276.17 514.95 Td (include ) Tj ET Q
q 0 0 0 rg BT 308.40 514.95 Td (certain ) Tj ET Q
q 0 0 0 rg BT 338.28 514.95 Td (contractual ) Tj ET Q
q 0 0 0 rg BT 386.24 514.95 Td (arrangements ) Tj ET Q
q 0 0 0 rg BT 444.11 514.95 Td (pursuant ) Tj ET Q
q 0 0 0 rg BT 481.59 514.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 491.07 514.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 518.05 514.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 524.02 514.95 Td (company ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (has ) Tj ET Q
q 0 0 0 rg BT 65.58 502.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 77.58 502.35 Td (obligation, ) Tj ET Q
q 0 0 0 rg BT 124.87 502.35 Td (such ) Tj ET Q
q 0 0 0 rg BT 146.20 502.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 157.03 502.35 Td (certain ) Tj ET Q
q 0 0 0 rg BT 187.68 502.35 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 234.09 502.35 Td (obligations, ) Tj ET Q
q 0 0 0 rg BT 285.47 502.35 Td (certain ) Tj ET Q
q 0 0 0 rg BT 316.12 502.35 Td (guarantee ) Tj ET Q
q 0 0 0 rg BT 359.01 502.35 Td (contracts, ) Tj ET Q
q 0 0 0 rg BT 401.62 502.35 Td (retained ) Tj ET Q
q 0 0 0 rg BT 437.52 502.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 448.35 502.35 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 494.76 502.35 Td (interest ) Tj ET Q
q 0 0 0 rg BT 527.75 502.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 538.01 502.35 Td (assets ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (transferred ) Tj ET Q
q 0 0 0 rg BT 96.68 489.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 106.55 489.75 Td (an ) Tj ET Q
q 0 0 0 rg BT 118.16 489.75 Td (unconsolidated ) Tj ET Q
q 0 0 0 rg BT 183.44 489.75 Td (entity) Tj ET Q
q 0 0 0 rg BT 206.67 489.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 211.00 489.75 Td (certain ) Tj ET Q
q 0 0 0 rg BT 241.26 489.75 Td (derivative ) Tj ET Q
q 0 0 0 rg BT 284.95 489.75 Td (instruments, ) Tj ET Q
q 0 0 0 rg BT 338.28 489.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 348.73 489.75 Td (material ) Tj ET Q
q 0 0 0 rg BT 384.83 489.75 Td (variable ) Tj ET Q
q 0 0 0 rg BT 420.35 489.75 Td (interests ) Tj ET Q
q 0 0 0 rg BT 457.04 489.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 466.91 489.75 Td (unconsolidated ) Tj ET Q
q 0 0 0 rg BT 532.19 489.75 Td (entities ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (that ) Tj ET Q
q 0 0 0 rg BT 69.63 477.15 Td (provide ) Tj ET Q
q 0 0 0 rg BT 106.08 477.15 Td (financing, ) Tj ET Q
q 0 0 0 rg BT 152.74 477.15 Td (liquidity) Tj ET Q
q 0 0 0 rg BT 187.64 477.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 194.65 477.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 228.18 477.15 Td (risk ) Tj ET Q
q 0 0 0 rg BT 248.31 477.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 261.44 477.15 Td (credit ) Tj ET Q
q 0 0 0 rg BT 289.72 477.15 Td (risk ) Tj ET Q
q 0 0 0 rg BT 309.85 477.15 Td (support. ) Tj ET Q
q 0 0 0 rg BT 348.36 477.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 352.74 477.15 Td (Disclosure ) Tj ET Q
q 0 0 0 rg BT 402.02 477.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 413.41 477.15 Td (required ) Tj ET Q
q 0 0 0 rg BT 452.77 477.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 469.39 477.15 Td (any ) Tj ET Q
q 0 0 0 rg BT 488.93 477.15 Td (of) Tj ET Q
q 0 0 0 rg BT 497.49 477.15 Td (f-balance ) Tj ET Q
q 0 0 0 rg BT 540.92 477.15 Td (sheet ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (arrangements ) Tj ET Q
q 0 0 0 rg BT 108.13 464.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 125.96 464.55 Td (have, ) Tj ET Q
q 0 0 0 rg BT 150.48 464.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 161.30 464.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 176.20 464.55 Td (reasonably ) Tj ET Q
q 0 0 0 rg BT 223.76 464.55 Td (likely ) Tj ET Q
q 0 0 0 rg BT 249.75 464.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 259.99 464.55 Td (have, ) Tj ET Q
q 0 0 0 rg BT 284.51 464.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 291.25 464.55 Td (material ) Tj ET Q
q 0 0 0 rg BT 327.73 464.55 Td (current ) Tj ET Q
q 0 0 0 rg BT 359.53 464.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 370.36 464.55 Td (future ) Tj ET Q
q 0 0 0 rg BT 397.50 464.55 Td (ef) Tj ET Q
q 0 0 0 rg BT 405.47 464.55 Td (fect ) Tj ET Q
q 0 0 0 rg BT 423.28 464.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 435.86 464.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 451.93 464.55 Td (financial ) Tj ET Q
q 0 0 0 rg BT 490.74 464.55 Td (condition, ) Tj ET Q
q 0 0 0 rg BT 535.11 464.55 Td (results ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.28 451.95 Td (operations, ) Tj ET Q
q 0 0 0 rg BT 108.68 451.95 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 146.30 451.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 157.08 451.95 Td (capital ) Tj ET Q
q 0 0 0 rg BT 187.10 451.95 Td (resources. ) Tj ET Q
q 0 0 0 rg BT 231.41 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 233.29 451.95 Td (W) Tj ET Q
q 0 0 0 rg BT 242.36 451.95 Td (e ) Tj ET Q
q 0 0 0 rg BT 249.06 451.95 Td (generally ) Tj ET Q
q 0 0 0 rg BT 290.16 451.95 Td (do ) Tj ET Q
q 0 0 0 rg BT 302.69 451.95 Td (not ) Tj ET Q
q 0 0 0 rg BT 318.14 451.95 Td (enter ) Tj ET Q
q 0 0 0 rg BT 341.16 451.95 Td (into ) Tj ET Q
q 0 0 0 rg BT 359.53 451.95 Td (of) Tj ET Q
q 0 0 0 rg BT 368.09 451.95 Td (f-balance ) Tj ET Q
q 0 0 0 rg BT 409.18 451.95 Td (sheet ) Tj ET Q
q 0 0 0 rg BT 432.79 451.95 Td (arrangements, ) Tj ET Q
q 0 0 0 rg BT 494.00 451.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 504.78 451.95 Td (defined, ) Tj ET Q
q 0 0 0 rg BT 540.93 451.95 Td (other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (than ) Tj ET Q
q 0 0 0 rg BT 70.92 439.35 Td (those ) Tj ET Q
q 0 0 0 rg BT 96.44 439.35 Td (described ) Tj ET Q
q 0 0 0 rg BT 140.02 439.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 151.53 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 167.70 439.35 Td (Contractual ) Tj ET Q
q 0 0 0 rg BT 220.04 439.35 Td (Obligations ) Tj ET Q
q 0 0 0 rg BT 272.38 439.35 Td (section ) Tj ET Q
q 0 0 0 rg BT 305.47 439.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 324.56 439.35 Td (follows, ) Tj ET Q
q 0 0 0 rg BT 362.04 439.35 Td (Consolidation ) Tj ET Q
q 0 0 0 rg BT 424.30 439.35 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 467.90 439.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 479.41 439.35 Td (Critical ) Tj ET Q
q 0 0 0 rg BT 513.51 439.35 Td (Accounting ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (Policies ) Tj ET Q
q 0 0 0 rg BT 84.76 426.75 Td (and ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 316.50 620.57 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F2 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.00 Tf ET
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q 0 0 0 rg BT 550.22 327.90 Td (due ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 317.70 Td (November ) Tj ET Q
q 0 0 0 rg BT 105.82 317.70 Td (2024 ) Tj ET Q
q 0 0 0 rg BT 125.27 317.70 Td (\(using ) Tj ET Q
q 0 0 0 rg BT 148.96 317.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 161.80 317.70 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 196.33 317.70 Td (rate ) Tj ET Q
q 0 0 0 rg BT 211.52 317.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 221.04 317.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 230.57 317.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 255.20 317.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 268.27 317.70 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 287.72 317.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 300.07 317.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 312.90 317.70 Td (�2.3 ) Tj ET Q
q 0 0 0 rg BT 330.23 317.70 Td (million ) Tj ET Q
q 0 0 0 rg BT 357.23 317.70 Td (annual ) Tj ET Q
q 0 0 0 rg BT 382.33 317.70 Td (committed ) Tj ET Q
q 0 0 0 rg BT 421.13 317.70 Td (contribution ) Tj ET Q
q 0 0 0 rg BT 465.13 317.70 Td (amount ) Tj ET Q
q 0 0 0 rg BT 493.07 317.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 507.79 317.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 520.62 317.70 Td (�1.5 ) Tj ET Q
q 0 0 0 rg BT 537.94 317.70 Td (million ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 307.50 Td (final ) Tj ET Q
q 0 0 0 rg BT 85.20 307.50 Td (payment ) Tj ET Q
q 0 0 0 rg BT 116.60 307.50 Td (amount\). ) Tj ET Q
q 0 0 0 rg BT 149.17 307.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 151.30 307.50 Td (See ) Tj ET Q
q 0 0 0 rg BT 165.70 307.50 Td (Note ) Tj ET Q
q 0 0 0 rg BT 184.35 307.50 Td (2 ) Tj ET Q
q 0 0 0 rg BT 190.72 307.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 199.93 307.50 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 221.88 307.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 230.62 307.50 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 277.60 307.50 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 311.36 307.50 Td (Statements.) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 297.30 Td (\(3\) ) Tj ET Q
q 0 0 0 rg BT 67.50 297.30 Td (The ) Tj ET Q
q 0 0 0 rg BT 82.57 297.30 Td (amount ) Tj ET Q
q 0 0 0 rg BT 109.93 297.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 118.87 297.30 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 156.61 297.30 Td (payments ) Tj ET Q
q 0 0 0 rg BT 191.04 297.30 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 222.63 297.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 234.40 297.30 Td (any ) Tj ET Q
q 0 0 0 rg BT 248.53 297.30 Td (year ) Tj ET Q
q 0 0 0 rg BT 265.01 297.30 Td (represents ) Tj ET Q
q 0 0 0 rg BT 301.33 297.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 313.57 297.30 Td (maximum ) Tj ET Q
q 0 0 0 rg BT 349.90 297.30 Td (amount ) Tj ET Q
q 0 0 0 rg BT 377.26 297.30 Td (that ) Tj ET Q
q 0 0 0 rg BT 391.86 297.30 Td (could ) Tj ET Q
q 0 0 0 rg BT 412.61 297.30 Td (be ) Tj ET Q
q 0 0 0 rg BT 422.49 297.30 Td (payable ) Tj ET Q
q 0 0 0 rg BT 450.78 297.30 Td (at ) Tj ET Q
q 0 0 0 rg BT 458.77 297.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 471.01 297.30 Td (earliest ) Tj ET Q
q 0 0 0 rg BT 497.41 297.30 Td (possible ) Tj ET Q
q 0 0 0 rg BT 527.13 297.30 Td (date ) Tj ET Q
q 0 0 0 rg BT 543.15 297.30 Td (under ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 287.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 80.25 287.10 Td (terms ) Tj ET Q
q 0 0 0 rg BT 101.50 287.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 110.94 287.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 123.69 287.10 Td (business ) Tj ET Q
q 0 0 0 rg BT 154.86 287.10 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 187.43 287.10 Td (agreements, ) Tj ET Q
q 0 0 0 rg BT 230.62 287.10 Td (using ) Tj ET Q
q 0 0 0 rg BT 251.40 287.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 264.15 287.10 Td (applicable ) Tj ET Q
q 0 0 0 rg BT 301.44 287.10 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 335.90 287.10 Td (rate ) Tj ET Q
q 0 0 0 rg BT 351.00 287.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 360.44 287.10 Td (of ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 369.88 287.10 Td (March ) Tj ET Q
q 0 0 0 rg BT 394.43 287.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 407.42 287.10 Td (2018) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 424.42 287.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 428.91 287.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 441.18 287.10 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 472.35 287.10 Td (denominated ) Tj ET Q
q 0 0 0 rg BT 518.62 287.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 527.59 287.10 Td (currencies ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 276.90 Td (ot) Tj ET Q
BT /F1 8.50 Tf ET
1 1 1 rg
/GS0 gs
74.11 282.79 247.49 -7.73 re f
/GS0 gs
q 0 0 0 rg BT 74.11 276.90 Td (her ) Tj ET Q
q 0 0 0 rg BT 87.29 276.90 Td (than ) Tj ET Q
q 0 0 0 rg BT 104.24 276.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 116.95 276.90 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 134.39 276.90 Td (dollar) Tj ET Q
q 0 0 0 rg BT 153.74 276.90 Td (. ) Tj ET Q
q 0 0 0 rg BT 158.19 276.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 160.34 276.90 Td (The ) Tj ET Q
q 0 0 0 rg BT 175.88 276.90 Td (related ) Tj ET Q
q 0 0 0 rg BT 201.33 276.90 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 239.53 276.90 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 287.64 276.90 Td (liabilities ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 321.60 276.90 Td (had ) Tj ET Q
q 0 0 0 rg BT 336.19 276.90 Td (an ) Tj ET Q
q 0 0 0 rg BT 346.54 276.90 Td (aggregate ) Tj ET Q
q 0 0 0 rg BT 381.89 276.90 Td (fair ) Tj ET Q
q 0 0 0 rg BT 396.01 276.90 Td (value ) Tj ET Q
q 0 0 0 rg BT 416.74 276.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 426.14 276.90 Td ($5.6 ) Tj ET Q
q 0 0 0 rg BT 443.34 276.90 Td (million ) Tj ET Q
q 0 0 0 rg BT 470.22 276.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 479.62 276.90 Td (of ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 489.02 276.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 513.53 276.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 526.48 276.90 Td (2018) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 543.48 276.90 Td (. ) Tj ET Q
q 0 0 0 rg BT 547.92 276.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 550.24 276.90 Td (See ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 266.70 Td (Notes ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 89.32 266.70 Td (2) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 93.57 266.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 95.56 266.70 Td (and ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 109.81 266.70 Td (8) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 114.06 266.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 116.05 266.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 125.12 266.70 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 146.94 266.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 155.54 266.70 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 202.38 266.70 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 236.00 266.70 Td (Statements. ) Tj ET Q
q 0 0 0 rg BT 277.41 266.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 279.40 266.70 Td (No ) Tj ET Q
q 0 0 0 rg BT 291.78 266.70 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 329.64 266.70 Td (payment ) Tj ET Q
q 0 0 0 rg BT 360.90 266.70 Td (related ) Tj ET Q
q 0 0 0 rg BT 386.01 266.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 394.61 266.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 406.98 266.70 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 446.27 266.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 455.34 266.70 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 480.46 266.70 Td (Currie ) Tj ET Q
q 0 0 0 rg BT 504.16 266.70 Td (is ) Tj ET Q
q 0 0 0 rg BT 511.82 266.70 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 543.53 266.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 552.13 266.70 Td (the ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 256.50 Td (table ) Tj ET Q
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q 0 0 0 rg BT 110.69 256.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 119.90 256.50 Td (no ) Tj ET Q
q 0 0 0 rg BT 130.52 256.50 Td (payments ) Tj ET Q
q 0 0 0 rg BT 165.22 256.50 Td (are ) Tj ET Q
q 0 0 0 rg BT 177.73 256.50 Td (due. ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 246.30 Td (\(4\) ) Tj ET Q
q 0 0 0 rg BT 67.50 246.30 Td (The ) Tj ET Q
q 0 0 0 rg BT 82.53 246.30 Td (table ) Tj ET Q
q 0 0 0 rg BT 100.86 246.30 Td (above ) Tj ET Q
q 0 0 0 rg BT 122.97 246.30 Td (does ) Tj ET Q
q 0 0 0 rg BT 140.36 246.30 Td (not ) Tj ET Q
q 0 0 0 rg BT 153.03 246.30 Td (include ) Tj ET Q
q 0 0 0 rg BT 179.86 246.30 Td (approximately ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 230.77 246.30 Td ($44.8) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 249.90 246.30 Td (�million ) Tj ET Q
q 0 0 0 rg BT 278.39 246.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 286.81 246.30 Td (capital ) Tj ET Q
q 0 0 0 rg BT 311.28 246.30 Td (commitments ) Tj ET Q
q 0 0 0 rg BT 359.37 246.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 367.79 246.30 Td (investment ) Tj ET Q
q 0 0 0 rg BT 406.90 246.30 Td (partnerships ) Tj ET Q
q 0 0 0 rg BT 450.26 246.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 458.68 246.30 Td (which ) Tj ET Q
q 0 0 0 rg BT 481.27 246.30 Td (we ) Tj ET Q
q 0 0 0 rg BT 492.99 246.30 Td (are ) Tj ET Q
q 0 0 0 rg BT 505.18 246.30 Td (a ) Tj ET Q
q 0 0 0 rg BT 510.77 246.30 Td (limited ) Tj ET Q
q 0 0 0 rg BT 536.66 246.30 Td (partner) Tj ET Q
q 0 0 0 rg BT 560.39 246.30 Td (, ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 236.10 Td (which ) Tj ET Q
q 0 0 0 rg BT 90.92 236.10 Td (will ) Tj ET Q
q 0 0 0 rg BT 106.80 236.10 Td (be ) Tj ET Q
q 0 0 0 rg BT 117.47 236.10 Td (outstanding, ) Tj ET Q
q 0 0 0 rg BT 161.91 236.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 171.64 236.10 Td (funded ) Tj ET Q
q 0 0 0 rg BT 197.89 236.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 207.62 236.10 Td (required, ) Tj ET Q
q 0 0 0 rg BT 240.71 236.10 Td (through ) Tj ET Q
q 0 0 0 rg BT 269.80 236.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 282.84 236.10 Td (end ) Tj ET Q
q 0 0 0 rg BT 297.76 236.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 307.49 236.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 320.52 236.10 Td (commitment ) Tj ET Q
q 0 0 0 rg BT 366.14 236.10 Td (periods ) Tj ET Q
q 0 0 0 rg BT 393.81 236.10 Td (running ) Tj ET Q
q 0 0 0 rg BT 422.90 236.10 Td (through ) Tj ET Q
q 0 0 0 rg BT 451.99 236.10 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 473.05 236.10 Td (2030; ) Tj ET Q
q 0 0 0 rg BT 495.06 236.10 Td ($100 ) Tj ET Q
q 0 0 0 rg BT 514.71 236.10 Td (million ) Tj ET Q
q 0 0 0 rg BT 541.92 236.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 551.65 236.10 Td (co-) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 225.90 Td (investment ) Tj ET Q
q 0 0 0 rg BT 107.55 225.90 Td (commitment ) Tj ET Q
q 0 0 0 rg BT 153.26 225.90 Td (associated ) Tj ET Q
q 0 0 0 rg BT 190.94 225.90 Td (with ) Tj ET Q
q 0 0 0 rg BT 208.80 225.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 221.93 225.90 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 250.18 225.90 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 280.78 225.90 Td (acquisition; ) Tj ET Q
q 0 0 0 rg BT 323.19 225.90 Td (or ) Tj ET Q
q 0 0 0 rg BT 333.02 225.90 Td (up ) Tj ET Q
q 0 0 0 rg BT 344.27 225.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 353.63 225.90 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 405.47 225.90 Td ($2.5 ) Tj ET Q
q 0 0 0 rg BT 423.09 225.90 Td (million ) Tj ET Q
q 0 0 0 rg BT 450.40 225.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 460.23 225.90 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 497.44 225.90 Td (additional ) Tj ET Q
q 0 0 0 rg BT 534.18 225.90 Td (working ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 215.70 Td (capital ) Tj ET Q
q 0 0 0 rg BT 92.28 215.70 Td (commitment ) Tj ET Q
q 0 0 0 rg BT 137.37 215.70 Td (associated ) Tj ET Q
q 0 0 0 rg BT 174.43 215.70 Td (with ) Tj ET Q
q 0 0 0 rg BT 191.67 215.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 204.17 215.70 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 237.93 215.70 Td (Guard ) Tj ET Q
q 0 0 0 rg BT 261.30 215.70 Td (acquisition, ) Tj ET Q
q 0 0 0 rg BT 302.85 215.70 Td (which ) Tj ET Q
q 0 0 0 rg BT 325.75 215.70 Td (will ) Tj ET Q
q 0 0 0 rg BT 341.10 215.70 Td (be ) Tj ET Q
q 0 0 0 rg BT 351.25 215.70 Td (funded ) Tj ET Q
q 0 0 0 rg BT 376.97 215.70 Td (over ) Tj ET Q
q 0 0 0 rg BT 394.20 215.70 Td (the ) Tj ET Q
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q 0 0 0 rg BT 455.81 215.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 464.08 215.70 Td (August ) Tj ET Q
q 0 0 0 rg BT 490.76 215.70 Td (2018. ) Tj ET Q
q 0 0 0 rg BT 512.01 215.70 Td ( ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 205.50 Td (\(5\) ) Tj ET Q
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q 0 0 0 rg BT 83.07 205.50 Td (table ) Tj ET Q
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q 0 0 0 rg BT 155.73 205.50 Td (include ) Tj ET Q
q 0 0 0 rg BT 183.10 205.50 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 214.26 205.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 226.52 205.50 Td (uncertain ) Tj ET Q
q 0 0 0 rg BT 260.49 205.50 Td (tax ) Tj ET Q
q 0 0 0 rg BT 273.23 205.50 Td (positions ) Tj ET Q
q 0 0 0 rg BT 306.28 205.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 315.71 205.50 Td ($49.6 ) Tj ET Q
q 0 0 0 rg BT 337.19 205.50 Td (million ) Tj ET Q
q 0 0 0 rg BT 364.10 205.50 Td (\(net ) Tj ET Q
q 0 0 0 rg BT 379.66 205.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 389.10 205.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 401.83 205.50 Td (federal ) Tj ET Q
q 0 0 0 rg BT 427.77 205.50 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 453.73 205.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 465.99 205.50 Td (state ) Tj ET Q
q 0 0 0 rg BT 483.92 205.50 Td (tax ) Tj ET Q
q 0 0 0 rg BT 496.65 205.50 Td (liabilities\), ) Tj ET Q
q 0 0 0 rg BT 535.60 205.50 Td (because ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 195.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 80.01 195.30 Td (timing ) Tj ET Q
q 0 0 0 rg BT 104.33 195.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 113.54 195.30 Td (any ) Tj ET Q
q 0 0 0 rg BT 127.94 195.30 Td (related ) Tj ET Q
q 0 0 0 rg BT 153.18 195.30 Td (cash ) Tj ET Q
q 0 0 0 rg BT 170.41 195.30 Td (outflows ) Tj ET Q
q 0 0 0 rg BT 202.29 195.30 Td (cannot ) Tj ET Q
q 0 0 0 rg BT 227.07 195.30 Td (be ) Tj ET Q
q 0 0 0 rg BT 237.22 195.30 Td (reliably ) Tj ET Q
q 0 0 0 rg BT 265.31 195.30 Td (estimated.) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 185.10 Td (\(6\) ) Tj ET Q
q 0 0 0 rg BT 67.50 185.10 Td (The ) Tj ET Q
q 0 0 0 rg BT 82.71 185.10 Td (table ) Tj ET Q
q 0 0 0 rg BT 101.22 185.10 Td (above ) Tj ET Q
q 0 0 0 rg BT 123.51 185.10 Td (does ) Tj ET Q
q 0 0 0 rg BT 141.08 185.10 Td (not ) Tj ET Q
q 0 0 0 rg BT 153.94 185.10 Td (include ) Tj ET Q
q 0 0 0 rg BT 180.95 185.10 Td (redeemable ) Tj ET Q
q 0 0 0 rg BT 222.11 185.10 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 274.16 185.10 Td (interests ) Tj ET Q
q 0 0 0 rg BT 304.48 185.10 Td (related ) Tj ET Q
q 0 0 0 rg BT 329.60 185.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 338.20 185.10 Td (minority ) Tj ET Q
q 0 0 0 rg BT 369.47 185.10 Td (equity ) Tj ET Q
q 0 0 0 rg BT 392.71 185.10 Td (interests ) Tj ET Q
q 0 0 0 rg BT 423.03 185.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 431.64 185.10 Td (our ) Tj ET Q
q 0 0 0 rg BT 444.96 185.10 Td (af) Tj ET Q
q 0 0 0 rg BT 451.41 185.10 Td (filiates ) Tj ET Q
q 0 0 0 rg BT 476.54 185.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 490.80 185.10 Td (af) Tj ET Q
q 0 0 0 rg BT 497.25 185.10 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 519.07 185.10 Td (management ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 174.90 Td (equity ) Tj ET Q
q 0 0 0 rg BT 91.02 174.90 Td (plans ) Tj ET Q
q 0 0 0 rg BT 111.24 174.90 Td (with ) Tj ET Q
q 0 0 0 rg BT 128.63 174.90 Td (key ) Tj ET Q
q 0 0 0 rg BT 143.18 174.90 Td (employees ) Tj ET Q
q 0 0 0 rg BT 181.81 174.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 191.17 174.90 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 218.94 174.90 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 249.08 174.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 263.63 174.90 Td (ClearBridge ) Tj ET Q
q 0 0 0 rg BT 307.45 174.90 Td (of ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 316.80 174.90 Td ($607.2) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 340.18 174.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 342.46 174.90 Td (million ) Tj ET Q
q 0 0 0 rg BT 369.29 174.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 378.65 174.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 388.01 174.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 412.47 174.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 425.37 174.90 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 446.78 174.90 Td (because ) Tj ET Q
q 0 0 0 rg BT 475.95 174.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 488.61 174.90 Td (timing ) Tj ET Q
q 0 0 0 rg BT 513.09 174.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 527.64 174.90 Td (amount ) Tj ET Q
q 0 0 0 rg BT 555.41 174.90 Td (of ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 164.70 Td (any ) Tj ET Q
q 0 0 0 rg BT 81.89 164.70 Td (related ) Tj ET Q
q 0 0 0 rg BT 107.13 164.70 Td (cash ) Tj ET Q
q 0 0 0 rg BT 124.34 164.70 Td (outflows ) Tj ET Q
q 0 0 0 rg BT 156.21 164.70 Td (cannot ) Tj ET Q
q 0 0 0 rg BT 180.98 164.70 Td (be ) Tj ET Q
q 0 0 0 rg BT 191.12 164.70 Td (reliably ) Tj ET Q
q 0 0 0 rg BT 219.20 164.70 Td (estimated. ) Tj ET Q
q 0 0 0 rg BT 256.01 164.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 258.13 164.70 Td (Redeemable ) Tj ET Q
q 0 0 0 rg BT 302.25 164.70 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 354.41 164.70 Td (interests ) Tj ET Q
q 0 0 0 rg BT 384.86 164.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 394.05 164.70 Td (CIVs ) Tj ET Q
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BT /F1 8.50 Tf ET
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q 0 0 0 rg BT 533.94 578.70 Td (certain ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 566.10 Td (investment ) Tj ET Q
q 0 0 0 rg BT 99.52 566.10 Td (advisory ) Tj ET Q
q 0 0 0 rg BT 139.63 566.10 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 181.48 566.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 197.67 566.10 Td (exceeding ) Tj ET Q
q 0 0 0 rg BT 244.18 566.10 Td (performance ) Tj ET Q
q 0 0 0 rg BT 301.17 566.10 Td (benchmarks, ) Tj ET Q
q 0 0 0 rg BT 358.48 566.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 377.58 566.10 Td (strong ) Tj ET Q
q 0 0 0 rg BT 407.78 566.10 Td (markets ) Tj ET Q
q 0 0 0 rg BT 444.97 566.10 Td (tend ) Tj ET Q
q 0 0 0 rg BT 466.99 566.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 479.11 566.10 Td (increase ) Tj ET Q
q 0 0 0 rg BT 517.45 566.10 Td (these ) Tj ET Q
q 0 0 0 rg BT 542.97 566.10 Td (fees. ) Tj ET Q
q 0 0 0 rg BT 565.12 566.10 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 553.50 Td (Declines ) Tj ET Q
q 0 0 0 rg BT 89.19 553.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 100.30 553.50 Td (market ) Tj ET Q
q 0 0 0 rg BT 132.40 553.50 Td (values ) Tj ET Q
q 0 0 0 rg BT 162.18 553.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 173.22 553.50 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 200.68 553.50 Td (will ) Tj ET Q
q 0 0 0 rg BT 219.96 553.50 Td (result ) Tj ET Q
q 0 0 0 rg BT 246.24 553.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 257.35 553.50 Td (reduced ) Tj ET Q
q 0 0 0 rg BT 293.53 553.50 Td (fee ) Tj ET Q
q 0 0 0 rg BT 309.30 553.50 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 349.56 553.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 367.67 553.50 Td (net ) Tj ET Q
q 0 0 0 rg BT 383.45 553.50 Td (income. ) Tj ET Q
q 0 0 0 rg BT 419.93 553.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 422.67 553.50 Td (W) Tj ET Q
q 0 0 0 rg BT 431.74 553.50 Td (e ) Tj ET Q
q 0 0 0 rg BT 439.35 553.50 Td (generally ) Tj ET Q
q 0 0 0 rg BT 481.36 553.50 Td (earn ) Tj ET Q
q 0 0 0 rg BT 502.38 553.50 Td (higher ) Tj ET Q
q 0 0 0 rg BT 532.15 553.50 Td (fees ) Tj ET Q
q 0 0 0 rg BT 552.00 553.50 Td (on ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.90 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 96.86 540.90 Td (assets ) Tj ET Q
q 0 0 0 rg BT 124.42 540.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 142.63 540.90 Td (equity ) Tj ET Q
q 0 0 0 rg BT 171.94 540.90 Td (assets ) Tj ET Q
q 0 0 0 rg BT 199.49 540.90 Td (than ) Tj ET Q
q 0 0 0 rg BT 220.62 540.90 Td (fees ) Tj ET Q
q 0 0 0 rg BT 240.58 540.90 Td (char) Tj ET Q
q 0 0 0 rg BT 258.46 540.90 Td (ged ) Tj ET Q
q 0 0 0 rg BT 276.68 540.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 291.98 540.90 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 316.61 540.90 Td (income ) Tj ET Q
q 0 0 0 rg BT 350.57 540.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 368.79 540.90 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 407.43 540.90 Td (assets. ) Tj ET Q
q 0 0 0 rg BT 437.61 540.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 440.66 540.90 Td (Declines ) Tj ET Q
q 0 0 0 rg BT 480.46 540.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 491.68 540.90 Td (market ) Tj ET Q
q 0 0 0 rg BT 523.89 540.90 Td (values ) Tj ET Q
q 0 0 0 rg BT 553.77 540.90 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 528.30 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 76.36 528.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 86.88 528.30 Td (these ) Tj ET Q
q 0 0 0 rg BT 110.81 528.30 Td (asset ) Tj ET Q
q 0 0 0 rg BT 133.57 528.30 Td (classes ) Tj ET Q
q 0 0 0 rg BT 165.09 528.30 Td (will ) Tj ET Q
q 0 0 0 rg BT 183.78 528.30 Td (have ) Tj ET Q
q 0 0 0 rg BT 205.95 528.30 Td (a ) Tj ET Q
q 0 0 0 rg BT 212.97 528.30 Td (greater ) Tj ET Q
q 0 0 0 rg BT 244.47 528.30 Td (impact ) Tj ET Q
q 0 0 0 rg BT 275.39 528.30 Td (on ) Tj ET Q
q 0 0 0 rg BT 288.25 528.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 304.60 528.30 Td (revenues. ) Tj ET Q
q 0 0 0 rg BT 346.89 528.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 349.25 528.30 Td (In ) Tj ET Q
q 0 0 0 rg BT 360.35 528.30 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 399.74 528.30 Td (under ) Tj ET Q
q 0 0 0 rg BT 426.00 528.30 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 461.59 528.30 Td (sharing ) Tj ET Q
q 0 0 0 rg BT 494.85 528.30 Td (arrangements ) Tj ET Q
q 0 0 0 rg BT 553.76 528.30 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 515.70 Td (other ) Tj ET Q
q 0 0 0 rg BT 76.07 515.70 Td (arrangements, ) Tj ET Q
q 0 0 0 rg BT 140.24 515.70 Td (certain ) Tj ET Q
q 0 0 0 rg BT 173.80 515.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 187.54 515.70 Td (our ) Tj ET Q
q 0 0 0 rg BT 206.53 515.70 Td (af) Tj ET Q
q 0 0 0 rg BT 214.50 515.70 Td (filiates ) Tj ET Q
q 0 0 0 rg BT 248.07 515.70 Td (retain ) Tj ET Q
q 0 0 0 rg BT 276.96 515.70 Td (dif) Tj ET Q
q 0 0 0 rg BT 288.44 515.70 Td (ferent ) Tj ET Q
q 0 0 0 rg BT 317.91 515.70 Td (percentages ) Tj ET Q
q 0 0 0 rg BT 372.46 515.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 386.20 515.70 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 428.51 515.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 441.67 515.70 Td (cover ) Tj ET Q
q 0 0 0 rg BT 469.98 515.70 Td (their ) Tj ET Q
q 0 0 0 rg BT 494.22 515.70 Td (costs, ) Tj ET Q
q 0 0 0 rg BT 522.84 515.70 Td (including ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 503.10 Td (compensation, ) Tj ET Q
q 0 0 0 rg BT 112.11 503.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 128.94 503.10 Td (our ) Tj ET Q
q 0 0 0 rg BT 144.61 503.10 Td (af) Tj ET Q
q 0 0 0 rg BT 152.58 503.10 Td (filiates ) Tj ET Q
q 0 0 0 rg BT 182.82 503.10 Td (operate ) Tj ET Q
q 0 0 0 rg BT 215.39 503.10 Td (at ) Tj ET Q
q 0 0 0 rg BT 224.63 503.10 Td (dif) Tj ET Q
q 0 0 0 rg BT 236.11 503.10 Td (ferent ) Tj ET Q
q 0 0 0 rg BT 262.26 503.10 Td (levels ) Tj ET Q
q 0 0 0 rg BT 288.42 503.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 298.84 503.10 Td (mar) Tj ET Q
q 0 0 0 rg BT 314.97 503.10 Td (gins. ) Tj ET Q
q 0 0 0 rg BT 336.77 503.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 338.44 503.10 Td (Our ) Tj ET Q
q 0 0 0 rg BT 356.44 503.10 Td (net ) Tj ET Q
q 0 0 0 rg BT 370.93 503.10 Td (income ) Tj ET Q
q 0 0 0 rg BT 403.51 503.10 Td (\(loss\), ) Tj ET Q
q 0 0 0 rg BT 431.14 503.10 Td (profit ) Tj ET Q
q 0 0 0 rg BT 456.13 503.10 Td (mar) Tj ET Q
q 0 0 0 rg BT 472.27 503.10 Td (gin ) Tj ET Q
q 0 0 0 rg BT 487.35 503.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 504.18 503.10 Td (compensation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 490.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 60.85 490.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 68.10 490.50 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 116.17 490.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 127.51 490.50 Td (operating ) Tj ET Q
q 0 0 0 rg BT 169.77 490.50 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 209.68 490.50 Td (are ) Tj ET Q
q 0 0 0 rg BT 225.09 490.50 Td (impacted ) Tj ET Q
q 0 0 0 rg BT 266.18 490.50 Td (based ) Tj ET Q
q 0 0 0 rg BT 292.68 490.50 Td (on ) Tj ET Q
q 0 0 0 rg BT 305.78 490.50 Td (which ) Tj ET Q
q 0 0 0 rg BT 334.04 490.50 Td (af) Tj ET Q
q 0 0 0 rg BT 342.01 490.50 Td (filiates ) Tj ET Q
q 0 0 0 rg BT 373.18 490.50 Td (generate ) Tj ET Q
q 0 0 0 rg BT 411.33 490.50 Td (our ) Tj ET Q
q 0 0 0 rg BT 427.93 490.50 Td (revenues, ) Tj ET Q
q 0 0 0 rg BT 470.47 490.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 488.23 490.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 495.49 490.50 Td (change ) Tj ET Q
q 0 0 0 rg BT 527.82 490.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 538.01 490.50 Td (AUM ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.90 Td (at ) Tj ET Q
q 0 0 0 rg BT 60.44 477.90 Td (one ) Tj ET Q
q 0 0 0 rg BT 78.96 477.90 Td (subsidiary ) Tj ET Q
q 0 0 0 rg BT 125.49 477.90 Td (can ) Tj ET Q
q 0 0 0 rg BT 143.42 477.90 Td (have ) Tj ET Q
q 0 0 0 rg BT 166.60 477.90 Td (a ) Tj ET Q
q 0 0 0 rg BT 174.62 477.90 Td (dramatically ) Tj ET Q
q 0 0 0 rg BT 230.46 477.90 Td (dif) Tj ET Q
q 0 0 0 rg BT 241.93 477.90 Td (ferent ) Tj ET Q
q 0 0 0 rg BT 269.78 477.90 Td (ef) Tj ET Q
q 0 0 0 rg BT 277.74 477.90 Td (fect ) Tj ET Q
q 0 0 0 rg BT 296.84 477.90 Td (on ) Tj ET Q
q 0 0 0 rg BT 310.70 477.90 Td (our ) Tj ET Q
q 0 0 0 rg BT 328.06 477.90 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 368.73 477.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 387.26 477.90 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 426.19 477.90 Td (than ) Tj ET Q
q 0 0 0 rg BT 447.63 477.90 Td (an ) Tj ET Q
q 0 0 0 rg BT 460.90 477.90 Td (equal ) Tj ET Q
q 0 0 0 rg BT 487.00 477.90 Td (change ) Tj ET Q
q 0 0 0 rg BT 520.09 477.90 Td (at ) Tj ET Q
q 0 0 0 rg BT 531.03 477.90 Td (another ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 465.30 Td (subsidiary) Tj ET Q
q 0 0 0 rg BT 91.98 465.30 Td (.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 440.10 Td (T) Tj ET Q
q 0 0 0 rg BT 55.72 440.10 Td (rading ) Tj ET Q
q 0 0 0 rg BT 88.11 440.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 107.66 440.10 Td (Non-T) Tj ET Q
q 0 0 0 rg BT 136.06 440.10 Td (rading ) Tj ET Q
q 0 0 0 rg BT 167.86 440.10 Td (Assets) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 427.50 Td (Our ) Tj ET Q
q 0 0 0 rg BT 68.02 427.50 Td (trading ) Tj ET Q
q 0 0 0 rg BT 99.96 427.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 117.31 427.50 Td (non-trading ) Tj ET Q
q 0 0 0 rg BT 168.49 427.50 Td (assets ) Tj ET Q
q 0 0 0 rg BT 195.18 427.50 Td (are ) Tj ET Q
q 0 0 0 rg BT 210.19 427.50 Td (comprised ) Tj ET Q
q 0 0 0 rg BT 256.12 427.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 267.06 427.50 Td (investment ) Tj ET Q
q 0 0 0 rg BT 315.33 427.50 Td (securities, ) Tj ET Q
q 0 0 0 rg BT 359.80 427.50 Td (including ) Tj ET Q
q 0 0 0 rg BT 401.65 427.50 Td (seed ) Tj ET Q
q 0 0 0 rg BT 422.50 427.50 Td (capital ) Tj ET Q
q 0 0 0 rg BT 452.68 427.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 463.04 427.50 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 507.81 427.50 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 539.17 427.50 Td (funds ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.29 414.90 Td (products, ) Tj ET Q
q 0 0 0 rg BT 108.70 414.90 Td (limited ) Tj ET Q
q 0 0 0 rg BT 141.07 414.90 Td (partnerships, ) Tj ET Q
q 0 0 0 rg BT 197.64 414.90 Td (limited ) Tj ET Q
q 0 0 0 rg BT 230.02 414.90 Td (liability ) Tj ET Q
q 0 0 0 rg BT 265.31 414.90 Td (companies ) Tj ET Q
q 0 0 0 rg BT 312.83 414.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 330.62 414.90 Td (certain ) Tj ET Q
q 0 0 0 rg BT 361.81 414.90 Td (other ) Tj ET Q
q 0 0 0 rg BT 386.01 414.90 Td (investment ) Tj ET Q
q 0 0 0 rg BT 434.71 414.90 Td (products.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 389.70 Td (T) Tj ET Q
q 0 0 0 rg BT 55.54 389.70 Td (rading ) Tj ET Q
q 0 0 0 rg BT 85.12 389.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 103.04 389.70 Td (other ) Tj ET Q
q 0 0 0 rg BT 127.37 389.70 Td (current ) Tj ET Q
q 0 0 0 rg BT 159.85 389.70 Td (investments, ) Tj ET Q
q 0 0 0 rg BT 215.40 389.70 Td (excluding ) Tj ET Q
q 0 0 0 rg BT 259.56 389.70 Td (CIVs, ) Tj ET Q
q 0 0 0 rg BT 287.11 389.70 Td (subject ) Tj ET Q
q 0 0 0 rg BT 319.60 389.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 330.53 389.70 Td (risk ) Tj ET Q
q 0 0 0 rg BT 349.03 389.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 360.53 389.70 Td (security ) Tj ET Q
q 0 0 0 rg BT 396.53 389.70 Td (price ) Tj ET Q
q 0 0 0 rg BT 420.27 389.70 Td (fluctuations ) Tj ET Q
q 0 0 0 rg BT 472.59 389.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 484.10 389.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 495.60 389.70 Td (March�31, ) Tj ET Q
q 0 0 0 rg BT 541.51 389.70 Td (2018 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 377.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.29 377.10 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 93.54 377.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 108.98 377.10 Td (summarized ) Tj ET Q
q 0 0 0 rg BT 162.92 377.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 173.71 377.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 189.17 377.10 Td (table ) Tj ET Q
q 0 0 0 rg BT 212.20 377.10 Td (below ) Tj ET Q
q 0 0 0 rg BT 240.48 377.10 Td (\(in ) Tj ET Q
q 0 0 0 rg BT 254.77 377.10 Td (thousands\):) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 351.60 384.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.00 351.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 351.60 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 351.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 351.60 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 321.60 384.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.00 321.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 321.60 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 321.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 321.60 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 281.60 384.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.00 281.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 281.60 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 281.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 281.60 60.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 351.6 m
434 351.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 351.6 m
434 351.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 351.6 m
498 351.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 351.6 m
562 351.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 281.6 m
498 281.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 281.6 m
562 281.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 281.6 m
434 281.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 266.6 m
434 266.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 281.6 m
498 281.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 266.6 m
498 266.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 281.6 m
562 281.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 266.6 m
562 266.6 l
s
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 457.00 356.39 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 521.00 356.37 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 341.37 Td (Investment securities, excluding CIVs:) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 326.37 Td (T) Tj ET Q
q 0 0 0 rg BT 64.73 326.37 Td (rading investments relating to long-term incentive compensation plans) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 440.50 326.39 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 459.85 326.39 Td (184,738) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 504.50 326.37 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.85 326.37 Td (150,903) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 311.37 Td (T) Tj ET Q
q 0 0 0 rg BT 64.54 311.37 Td (rading investments of proprietary fund products and other trading investments) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 459.85 311.39 Td (205,396) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.85 311.37 Td (262,585) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 296.82 Td (Equity method investments relating to long-term incentive compensation plans,) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 286.32 Td (proprietary fund products and other investments) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 470.35 286.39 Td (9,236) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 286.37 Td (10,131) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 271.37 Td (T) Tj ET Q
q 0 0 0 rg BT 73.18 271.37 Td (otal current investments, excluding CIVs) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 440.50 271.39 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 459.85 271.39 Td (399,370) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 504.50 271.37 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.85 271.37 Td (423,619) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 241.90 Td (T) Tj ET Q
q 0 0 0 rg BT 55.54 241.90 Td (rading ) Tj ET Q
q 0 0 0 rg BT 84.37 241.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 101.54 241.90 Td (other ) Tj ET Q
q 0 0 0 rg BT 125.12 241.90 Td (current ) Tj ET Q
q 0 0 0 rg BT 156.85 241.90 Td (investments ) Tj ET Q
q 0 0 0 rg BT 209.02 241.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 219.77 241.90 Td ($194.0 ) Tj ET Q
q 0 0 0 rg BT 250.65 241.90 Td (million ) Tj ET Q
q 0 0 0 rg BT 282.99 241.90 Td (and ) Tj ET Q
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562 628.65 l
s
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 457.00 708.44 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 521.00 708.42 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 693.42 Td (Investment securities, excluding CIVs:) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 678.42 Td (Investments in partnerships,�LLCs and other) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 440.50 678.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 470.35 678.44 Td (9,465) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 504.50 678.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 678.42 Td (14,679) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 663.42 Td (Equity method investments in partnerships and LLCs) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 465.10 663.44 Td (60,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 663.42 Td (67,636) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 648.42 Td (Other investments) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 478.25 648.44 Td (1) Tj ET Q
q 0 0 0 rg BT 483.50 648.44 Td (13) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.25 648.42 Td (1) Tj ET Q
q 0 0 0 rg BT 547.50 648.42 Td (13) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 64.50 633.42 Td (T) Tj ET Q
q 0 0 0 rg BT 70.18 633.42 Td (otal non-trading assets, excluding CIVs) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 440.50 633.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 465.10 633.44 Td (69,578) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 504.50 633.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 633.42 Td (82,428) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.95 Td (Investment ) Tj ET Q
q 0 0 0 rg BT 100.37 603.95 Td (securities ) Tj ET Q
q 0 0 0 rg BT 144.23 603.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 157.18 603.95 Td (CIVs ) Tj ET Q
q 0 0 0 rg BT 183.56 603.95 Td (totaled ) Tj ET Q
q 0 0 0 rg BT 216.35 603.95 Td ($149.1 ) Tj ET Q
q 0 0 0 rg BT 249.43 603.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 283.98 603.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 303.35 603.95 Td ($58.7�million ) Tj ET Q
q 0 0 0 rg BT 364.14 603.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 377.10 603.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 390.05 603.95 Td (March�31, ) Tj ET Q
q 0 0 0 rg BT 437.42 603.95 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 462.63 603.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 482.00 603.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 509.83 603.95 Td (respectively) Tj ET Q
q 0 0 0 rg BT 559.88 603.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 565.13 603.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 567.75 603.95 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 591.35 Td (Fluctuations ) Tj ET Q
q 0 0 0 rg BT 104.72 591.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 116.19 591.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 132.32 591.35 Td (market ) Tj ET Q
q 0 0 0 rg BT 164.78 591.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 190.82 591.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 202.87 591.35 Td (investments ) Tj ET Q
q 0 0 0 rg BT 256.34 591.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 268.39 591.35 Td (CIVs ) Tj ET Q
q 0 0 0 rg BT 293.86 591.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 305.33 591.35 Td (excess ) Tj ET Q
q 0 0 0 rg BT 336.04 591.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 348.09 591.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 365.39 591.35 Td (equity ) Tj ET Q
q 0 0 0 rg BT 394.94 591.35 Td (investment ) Tj ET Q
q 0 0 0 rg BT 444.32 591.35 Td (will ) Tj ET Q
q 0 0 0 rg BT 463.96 591.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 480.68 591.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 512.55 591.35 Td (Net ) Tj ET Q
q 0 0 0 rg BT 531.02 591.35 Td (Income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 578.75 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 78.18 578.75 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 131.29 578.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 141.84 578.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 165.79 578.75 Td (Mason,�Inc. ) Tj ET Q
q 0 0 0 rg BT 218.03 578.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 220.40 578.75 Td (However) Tj ET Q
q 0 0 0 rg BT 258.47 578.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 263.47 578.75 Td (it ) Tj ET Q
q 0 0 0 rg BT 271.68 578.75 Td (may ) Tj ET Q
q 0 0 0 rg BT 292.13 578.75 Td (have ) Tj ET Q
q 0 0 0 rg BT 314.33 578.75 Td (an ) Tj ET Q
q 0 0 0 rg BT 326.61 578.75 Td (impact ) Tj ET Q
q 0 0 0 rg BT 357.56 578.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 370.43 578.75 Td (non-operating ) Tj ET Q
q 0 0 0 rg BT 431.71 578.75 Td (income ) Tj ET Q
q 0 0 0 rg BT 464.99 578.75 Td (\(expense\) ) Tj ET Q
q 0 0 0 rg BT 508.18 578.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 519.30 578.75 Td (CIVs ) Tj ET Q
q 0 0 0 rg BT 543.84 578.75 Td (with ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 566.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 57.31 566.15 Td (corresponding ) Tj ET Q
q 0 0 0 rg BT 120.52 566.15 Td (of) Tj ET Q
q 0 0 0 rg BT 129.08 566.15 Td (fset ) Tj ET Q
q 0 0 0 rg BT 147.39 566.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 158.71 566.15 Td (Net ) Tj ET Q
q 0 0 0 rg BT 177.02 566.15 Td (income ) Tj ET Q
q 0 0 0 rg BT 211.07 566.15 Td (\(loss\) ) Tj ET Q
q 0 0 0 rg BT 237.55 566.15 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 288.52 566.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 299.83 566.15 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 364.81 566.15 Td (interests. ) Tj ET Q
q 0 0 0 rg BT 405.57 566.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 408.03 566.15 Td (As ) Tj ET Q
q 0 0 0 rg BT 422.84 566.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 434.74 566.15 Td (March�31, ) Tj ET Q
q 0 0 0 rg BT 481.04 566.15 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 505.19 566.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 523.50 566.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 550.27 566.15 Td (we ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 553.55 Td (held ) Tj ET Q
q 0 0 0 rg BT 70.79 553.55 Td (equity ) Tj ET Q
q 0 0 0 rg BT 100.24 553.55 Td (investments ) Tj ET Q
q 0 0 0 rg BT 153.61 553.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 164.98 553.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 181.02 553.55 Td (CIVs ) Tj ET Q
q 0 0 0 rg BT 206.40 553.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 218.35 553.55 Td ($43.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 241.97 553.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 245.18 553.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 263.55 553.55 Td ($28.3 ) Tj ET Q
q 0 0 0 rg BT 290.38 553.55 Td (million, ) Tj ET Q
q 0 0 0 rg BT 326.55 553.55 Td (respectively) Tj ET Q
q 0 0 0 rg BT 376.60 553.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 382.43 553.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 384.93 553.55 Td (As ) Tj ET Q
q 0 0 0 rg BT 399.80 553.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 411.76 553.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 442.37 553.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 458.70 553.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 485.53 553.55 Td (fluctuations ) Tj ET Q
q 0 0 0 rg BT 538.31 553.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 549.69 553.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.95 Td (market ) Tj ET Q
q 0 0 0 rg BT 81.38 540.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 106.84 540.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 118.31 540.95 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 181.69 540.95 Td ($27.2 ) Tj ET Q
q 0 0 0 rg BT 208.04 540.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 241.10 540.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 252.57 540.95 Td (these ) Tj ET Q
q 0 0 0 rg BT 276.87 540.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 305.84 540.95 Td (investments ) Tj ET Q
q 0 0 0 rg BT 358.73 540.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 369.62 540.95 Td (CIVs ) Tj ET Q
q 0 0 0 rg BT 394.52 540.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 410.06 540.95 Td (substantially ) Tj ET Q
q 0 0 0 rg BT 465.87 540.95 Td (of) Tj ET Q
q 0 0 0 rg BT 474.43 540.95 Td (fset ) Tj ET Q
q 0 0 0 rg BT 492.31 540.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 505.54 540.95 Td (gains ) Tj ET Q
q 0 0 0 rg BT 530.43 540.95 Td (\(losses\) ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 528.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 62.40 528.35 Td (market ) Tj ET Q
q 0 0 0 rg BT 93.96 528.35 Td (hedges ) Tj ET Q
q 0 0 0 rg BT 125.52 528.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 143.09 528.35 Td (therefore ) Tj ET Q
q 0 0 0 rg BT 183.38 528.35 Td (do ) Tj ET Q
q 0 0 0 rg BT 196.29 528.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 212.11 528.35 Td (materially ) Tj ET Q
q 0 0 0 rg BT 257.08 528.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 288.06 528.35 Td (Net ) Tj ET Q
q 0 0 0 rg BT 305.63 528.35 Td (Income ) Tj ET Q
q 0 0 0 rg BT 339.52 528.35 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 368.22 528.35 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 421.36 528.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 431.94 528.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 455.92 528.35 Td (Mason,�Inc. ) Tj ET Q
q 0 0 0 rg BT 508.19 528.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 510.59 528.35 Td (Fluctuations ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 515.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.88 515.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 76.92 515.75 Td (market ) Tj ET Q
q 0 0 0 rg BT 109.28 515.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 135.23 515.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 147.19 515.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 163.23 515.75 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 209.02 515.75 Td ($16.7 ) Tj ET Q
q 0 0 0 rg BT 235.85 515.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 269.40 515.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 281.36 515.75 Td (equity ) Tj ET Q
q 0 0 0 rg BT 310.82 515.75 Td (investments ) Tj ET Q
q 0 0 0 rg BT 364.19 515.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 375.57 515.75 Td (CIVs ) Tj ET Q
q 0 0 0 rg BT 400.95 515.75 Td (will ) Tj ET Q
q 0 0 0 rg BT 420.50 515.75 Td (impact ) Tj ET Q
q 0 0 0 rg BT 452.29 515.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 469.50 515.75 Td (non-operating ) Tj ET Q
q 0 0 0 rg BT 531.61 515.75 Td (income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 503.15 Td (\(expense\).) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.95 Td (V) Tj ET Q
q 0 0 0 rg BT 55.92 477.95 Td (aluation ) Tj ET Q
q 0 0 0 rg BT 92.21 477.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 103.43 477.95 Td (trading ) Tj ET Q
q 0 0 0 rg BT 135.65 477.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 153.28 477.95 Td (non-trading ) Tj ET Q
q 0 0 0 rg BT 204.74 477.95 Td (investments ) Tj ET Q
q 0 0 0 rg BT 257.37 477.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 266.85 477.95 Td (described ) Tj ET Q
q 0 0 0 rg BT 309.55 477.95 Td (below ) Tj ET Q
q 0 0 0 rg BT 337.68 477.95 Td (within ) Tj ET Q
q 0 0 0 rg BT 366.99 477.95 Td (Critical ) Tj ET Q
q 0 0 0 rg BT 400.41 477.95 Td (Accounting ) Tj ET Q
q 0 0 0 rg BT 451.87 477.95 Td (Policies ) Tj ET Q
q 0 0 0 rg BT 487.59 477.95 Td (under ) Tj ET Q
q 0 0 0 rg BT 513.97 477.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 529.27 477.95 Td (heading ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 465.35 Td ("V) Tj ET Q
q 0 0 0 rg BT 60.21 465.35 Td (aluation ) Tj ET Q
q 0 0 0 rg BT 95.47 465.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 105.65 465.35 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 146.16 465.35 Td (Instruments." ) Tj ET Q
q 0 0 0 rg BT 204.09 465.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 205.52 465.35 Td (See ) Tj ET Q
q 0 0 0 rg BT 222.12 465.35 Td (Notes�1 ) Tj ET Q
q 0 0 0 rg BT 255.93 465.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 272.53 465.35 Td (15 ) Tj ET Q
q 0 0 0 rg BT 284.47 465.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 294.65 465.35 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 320.59 465.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 330.19 465.35 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 387.04 465.35 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 427.55 465.35 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 475.07 465.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 488.75 465.35 Td (further ) Tj ET Q
q 0 0 0 rg BT 518.75 465.35 Td (discussion ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 452.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.87 452.75 Td (derivatives.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 427.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.80 427.55 Td (following ) Tj ET Q
q 0 0 0 rg BT 112.60 427.55 Td (is ) Tj ET Q
q 0 0 0 rg BT 122.58 427.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 130.22 427.55 Td (summary ) Tj ET Q
q 0 0 0 rg BT 172.27 427.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 183.99 427.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 199.79 427.55 Td (ef) Tj ET Q
q 0 0 0 rg BT 207.76 427.55 Td (fect ) Tj ET Q
q 0 0 0 rg BT 226.47 427.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 238.19 427.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 245.82 427.55 Td (10% ) Tj ET Q
q 0 0 0 rg BT 268.04 427.55 Td (increase ) Tj ET Q
q 0 0 0 rg BT 305.41 427.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 317.13 427.55 Td (decrease ) Tj ET Q
q 0 0 0 rg BT 356.24 427.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 367.38 427.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 383.18 427.55 Td (market ) Tj ET Q
q 0 0 0 rg BT 415.31 427.55 Td (values ) Tj ET Q
q 0 0 0 rg BT 445.11 427.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 456.83 427.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 473.80 427.55 Td (financial ) Tj ET Q
q 0 0 0 rg BT 513.50 427.55 Td (instruments ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.95 Td (subject ) Tj ET Q
q 0 0 0 rg BT 81.87 414.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 92.66 414.95 Td (market ) Tj ET Q
q 0 0 0 rg BT 124.44 414.95 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 166.14 414.95 Td (risks ) Tj ET Q
q 0 0 0 rg BT 188.60 414.95 Td (at ) Tj ET Q
q 0 0 0 rg BT 198.80 414.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 228.83 414.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 244.58 414.95 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 268.21 414.95 Td (\(in ) Tj ET Q
q 0 0 0 rg BT 282.50 414.95 Td (thousands\):) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 368.45 230.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
280.00 368.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
284.00 368.45 90.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 368.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
378.00 368.45 90.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.00 368.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 368.45 90.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 329.45 230.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
280.00 329.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
284.00 329.45 90.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 329.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
378.00 329.45 90.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.00 329.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 329.45 90.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 269.45 230.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
280.00 269.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
284.00 269.45 90.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 269.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
378.00 269.45 90.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.00 269.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 269.45 90.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 241.45 230.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
280.00 241.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
284.00 241.45 90.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 241.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
378.00 241.45 90.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.00 241.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 241.45 90.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 212.45 230.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
280.00 212.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
284.00 212.45 90.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 212.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
378.00 212.45 90.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.00 212.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 212.45 90.00 -14.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 368.45000000000005 m
280 368.45000000000005 l
s
0 0 0 RG
/GS0 gs
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BT /F2 10.50 Tf ET
q 0 0 0 rg BT 293.90 373.24 Td (Carrying ) Tj ET Q
q 0 0 0 rg BT 337.75 373.24 Td (V) Tj ET Q
q 0 0 0 rg BT 344.37 373.24 Td (alue) Tj ET Q
BT /F2 10.50 Tf ET
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q 0 0 0 rg BT 418.15 394.84 Td ( ) Tj ET Q
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q 0 0 0 rg BT 427.21 394.84 Td (alue) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 396.35 383.34 Td (Assuming a) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 387.85 371.84 Td (10% Incr) Tj ET Q
q 0 0 0 rg BT 430.53 371.84 Td (ease) Tj ET Q
BT /F2 10.50 Tf ET
BT /F2 6.82 Tf ET
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BT /F2 10.50 Tf ET
q 0 0 0 rg BT 493.10 394.84 Td (Fair) Tj ET Q
q 0 0 0 rg BT 512.15 394.84 Td ( ) Tj ET Q
q 0 0 0 rg BT 514.59 394.84 Td (V) Tj ET Q
q 0 0 0 rg BT 521.21 394.84 Td (alue) Tj ET Q
BT /F2 10.50 Tf ET
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BT /F2 10.50 Tf ET
q 0 0 0 rg BT 480.65 371.84 Td (10% Decr) Tj ET Q
q 0 0 0 rg BT 525.65 371.84 Td (ease) Tj ET Q
BT /F2 10.50 Tf ET
BT /F2 6.82 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 358.67 Td (Investment securities, excluding CIVs:) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 344.67 Td (T) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 335.85 334.22 Td (184,738) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 429.85 334.22 Td (203,212) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 474.50 334.22 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.85 334.22 Td (166,264) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 319.67 Td (T) Tj ET Q
q 0 0 0 rg BT 64.73 319.67 Td (rading investments of proprietary fund products) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.85 309.22 Td (184,856) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 273.67 Td (products and other investments) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 435.10 274.22 Td (10,159) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 274.22 Td (8,313) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 259.67 Td (T) Tj ET Q
q 0 0 0 rg BT 58.55 259.67 Td (otal current investments, excluding CIVs) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 335.85 259.67 Td (399,370) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 429.85 259.67 Td (439,307) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.85 259.67 Td (359,433) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 245.67 Td (Investments in CIVs) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 341.10 245.67 Td (43,854) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 435.10 245.67 Td (48,239) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 245.67 Td (39,469) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 231.67 Td (Investments in partnerships,�LLCs and other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 346.35 231.67 Td (9,465) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 435.10 231.67 Td (10,412) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 231.67 Td (8,519) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 217.22 Td (Equity method investments in partnerships and LLCs) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 341.10 217.22 Td (60,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 435.10 217.22 Td (66,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 217.22 Td (54,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 202.67 Td (Other investments) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 359.50 202.67 Td (13) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.25 202.67 Td (101) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 380.50 188.67 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 429.85 188.67 Td (564,082) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 474.50 188.67 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.85 188.67 Td (461,522) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 175.35 Td (\(1\) ) Tj ET Q
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q 0 0 0 rg BT 88.70 175.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 102.78 175.35 Td (losses ) Tj ET Q
q 0 0 0 rg BT 124.43 175.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 148.72 175.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 157.48 175.35 Td (investments ) Tj ET Q
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q 0 0 0 rg BT 206.99 175.35 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 236.16 175.35 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 283.13 175.35 Td (plans ) Tj ET Q
q 0 0 0 rg BT 302.55 175.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 314.85 175.35 Td (directly ) Tj ET Q
q 0 0 0 rg BT 341.82 175.35 Td (of) Tj ET Q
q 0 0 0 rg BT 348.34 175.35 Td (fset ) Tj ET Q
q 0 0 0 rg BT 362.42 175.35 Td (over ) Tj ET Q
q 0 0 0 rg BT 379.17 175.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 391.47 175.35 Td (full ) Tj ET Q
q 0 0 0 rg BT 405.12 175.35 Td (vesting ) Tj ET Q
q 0 0 0 rg BT 430.76 175.35 Td (period ) Tj ET Q
q 0 0 0 rg BT 453.73 175.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 464.26 175.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 470.35 175.35 Td (corresponding ) Tj ET Q
q 0 0 0 rg BT 518.65 175.35 Td (adjustment ) Tj ET Q
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BT /F1 8.00 Tf ET
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q 0 0 0 rg BT 114.17 165.75 Td (expense ) Tj ET Q
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q 0 0 0 rg BT 155.96 165.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 179.96 165.75 Td (liability) Tj ET Q
q 0 0 0 rg BT 204.33 165.75 Td (. ) Tj ET Q
q 0 0 0 rg BT 208.57 165.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 210.80 165.75 Td (In ) Tj ET Q
q 0 0 0 rg BT 219.70 165.75 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 250.16 165.75 Td (investments ) Tj ET Q
q 0 0 0 rg BT 290.62 165.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 299.08 165.75 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 336.85 165.75 Td (fund ) Tj ET Q
q 0 0 0 rg BT 353.75 165.75 Td (products ) Tj ET Q
q 0 0 0 rg BT 383.54 165.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 397.33 165.75 Td (investments ) Tj ET Q
q 0 0 0 rg BT 437.79 165.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 446.25 165.75 Td (CIVs ) Tj ET Q
q 0 0 0 rg BT 465.37 165.75 Td (totaling ) Tj ET Q
q 0 0 0 rg BT 492.05 165.75 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 540.50 165.75 Td ($158.7 ) Tj ET Q
BT /F1 8.00 Tf ET
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q 0 0 0 rg BT 92.00 156.15 Td (have ) Tj ET Q
q 0 0 0 rg BT 108.48 156.15 Td (been ) Tj ET Q
q 0 0 0 rg BT 124.96 156.15 Td (economically ) Tj ET Q
q 0 0 0 rg BT 169.44 156.15 Td (hedged ) Tj ET Q
q 0 0 0 rg BT 193.92 156.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 201.53 156.15 Td (limit ) Tj ET Q
q 0 0 0 rg BT 218.02 156.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 241.61 156.15 Td (risk. ) Tj ET Q
q 0 0 0 rg BT 257.00 156.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 258.07 156.15 Td (As ) Tj ET Q
q 0 0 0 rg BT 268.34 156.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 273.28 156.15 Td (result, ) Tj ET Q
q 0 0 0 rg BT 294.43 156.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 299.36 156.15 Td (10% ) Tj ET Q
q 0 0 0 rg BT 315.41 156.15 Td (increase ) Tj ET Q
q 0 0 0 rg BT 343.00 156.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 351.04 156.15 Td (decrease ) Tj ET Q
q 0 0 0 rg BT 379.95 156.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 387.56 156.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 398.71 156.15 Td (unrealized ) Tj ET Q
q 0 0 0 rg BT 433.41 156.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 457.00 156.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 475.71 156.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 483.75 156.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 495.80 156.15 Td (financial ) Tj ET Q
q 0 0 0 rg BT 525.17 156.15 Td (instruments ) Tj ET Q
BT /F1 8.00 Tf ET
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q 0 0 0 rg BT 92.36 146.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 100.78 146.55 Td (market ) Tj ET Q
q 0 0 0 rg BT 125.18 146.55 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 157.15 146.55 Td (risks ) Tj ET Q
q 0 0 0 rg BT 174.46 146.55 Td (would ) Tj ET Q
q 0 0 0 rg BT 196.65 146.55 Td (result ) Tj ET Q
q 0 0 0 rg BT 216.62 146.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 225.04 146.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 230.79 146.55 Td ($10.6�million ) Tj ET Q
q 0 0 0 rg BT 276.10 146.55 Td (increase ) Tj ET Q
q 0 0 0 rg BT 304.50 146.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 313.36 146.55 Td (decrease ) Tj ET Q
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q 0 0 0 rg BT 444.28 146.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 452.70 146.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 471.33 146.55 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 497.30 146.55 Td (Inc. ) Tj ET Q
q 0 0 0 rg BT 511.72 146.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 520.58 146.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 529.44 146.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 552.51 146.55 Td (31, ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 136.95 Td (2018.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 112.35 Td (Also, ) Tj ET Q
q 0 0 0 rg BT 74.60 112.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 85.98 112.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 97.36 112.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 127.40 112.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 143.15 112.35 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 166.79 112.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 184.58 112.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 210.84 112.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 232.13 112.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 249.93 112.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 271.22 112.35 Td (equivalents ) Tj ET Q
q 0 0 0 rg BT 321.67 112.35 Td (included ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 360.46 112.35 Td ($350.1 ) Tj ET Q
q 0 0 0 rg BT 391.97 112.35 Td (million) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 422.31 112.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 424.94 112.35 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 442.74 112.35 Td ($403.6 ) Tj ET Q
q 0 0 0 rg BT 474.25 112.35 Td (million) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 504.58 112.35 Td (, ) Tj ET Q
q 0 0 0 rg BT 509.84 112.35 Td (respectively) Tj ET Q
q 0 0 0 rg BT 559.89 112.35 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 99.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.87 99.75 Td (money ) Tj ET Q
q 0 0 0 rg BT 92.07 99.75 Td (market ) Tj ET Q
q 0 0 0 rg BT 123.85 99.75 Td (funds. ) Tj ET Q
q 0 0 0 rg BT 152.44 99.75 Td ( ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 75.15 Td (For) Tj ET Q
q 0 0 0 rg BT 65.63 75.15 Td (eign ) Tj ET Q
q 0 0 0 rg BT 86.93 75.15 Td (Exchange ) Tj ET Q
q 0 0 0 rg BT 133.31 75.15 Td (Sensitivity) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 62.55 Td (W) Tj ET Q
q 0 0 0 rg BT 58.57 62.55 Td (e ) Tj ET Q
q 0 0 0 rg BT 66.54 62.55 Td (operate ) Tj ET Q
q 0 0 0 rg BT 100.74 62.55 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 143.12 62.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 154.60 62.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 170.73 62.55 Td (U.S., ) Tj ET Q
q 0 0 0 rg BT 195.34 62.55 Td (but ) Tj ET Q
q 0 0 0 rg BT 212.06 62.55 Td (provide ) Tj ET Q
q 0 0 0 rg BT 247.44 62.55 Td (services, ) Tj ET Q
q 0 0 0 rg BT 287.19 62.55 Td (earn ) Tj ET Q
q 0 0 0 rg BT 308.57 62.55 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 349.19 62.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 367.66 62.55 Td (incur ) Tj ET Q
q 0 0 0 rg BT 392.54 62.55 Td (expenses ) Tj ET Q
q 0 0 0 rg BT 433.75 62.55 Td (outside ) Tj ET Q
q 0 0 0 rg BT 467.39 62.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 483.53 62.55 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 505.51 62.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 508.08 62.55 Td (Accordingly) Tj ET Q
q 0 0 0 rg BT 559.89 62.55 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 49.95 Td (fluctuations ) Tj ET Q
q 0 0 0 rg BT 101.74 49.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 112.58 49.95 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 145.57 49.95 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 187.88 49.95 Td (rates ) Tj ET Q
q 0 0 0 rg BT 210.37 49.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 225.28 49.95 Td (currencies, ) Tj ET Q
q 0 0 0 rg BT 273.71 49.95 Td (principally ) Tj ET Q
q 0 0 0 rg BT 321.87 49.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 332.71 49.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 348.20 49.95 Td (U.K., ) Tj ET Q
q 0 0 0 rg BT 373.91 49.95 Td (Brazil, ) Tj ET Q
q 0 0 0 rg BT 404.27 49.95 Td (Australia, ) Tj ET Q
q 0 0 0 rg BT 448.06 49.95 Td (Singapore, ) Tj ET Q
q 0 0 0 rg BT 495.93 49.95 Td (Japan ) Tj ET Q
q 0 0 0 rg BT 522.50 49.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 540.33 49.95 Td (those ) Tj ET Q
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q 0 0 0 rg BT 212.58 464.55 Td (fect ) Tj ET Q
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q 0 0 0 rg BT 245.33 464.55 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 283.00 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 293.84 464.55 Td (assets, ) Tj ET Q
q 0 0 0 rg BT 323.06 464.55 Td (liabilities, ) Tj ET Q
q 0 0 0 rg BT 366.86 464.55 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 406.26 464.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 423.52 464.55 Td (expenses ) Tj ET Q
q 0 0 0 rg BT 463.52 464.55 Td (reported ) Tj ET Q
q 0 0 0 rg BT 500.59 464.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 510.85 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 525.77 464.55 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (statements. ) Tj ET Q
q 0 0 0 rg BT 98.92 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 101.39 451.95 Td (Due ) Tj ET Q
q 0 0 0 rg BT 121.35 451.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 131.99 451.95 Td (their ) Tj ET Q
q 0 0 0 rg BT 153.70 451.95 Td (nature, ) Tj ET Q
q 0 0 0 rg BT 185.03 451.95 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 226.58 451.95 Td (involve ) Tj ET Q
q 0 0 0 rg BT 260.54 451.95 Td (judgment ) Tj ET Q
q 0 0 0 rg BT 302.67 451.95 Td (based ) Tj ET Q
q 0 0 0 rg BT 329.05 451.95 Td (upon ) Tj ET Q
q 0 0 0 rg BT 352.52 451.95 Td (available ) Tj ET Q
q 0 0 0 rg BT 392.89 451.95 Td (information. ) Tj ET Q
q 0 0 0 rg BT 447.55 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 449.85 451.95 Td (Therefore, ) Tj ET Q
q 0 0 0 rg BT 496.33 451.95 Td (actual ) Tj ET Q
q 0 0 0 rg BT 523.86 451.95 Td (results ) Tj ET Q
q 0 0 0 rg BT 553.75 451.95 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 86.86 439.35 Td (could ) Tj ET Q
q 0 0 0 rg BT 111.97 439.35 Td (dif) Tj ET Q
q 0 0 0 rg BT 123.45 439.35 Td (fer ) Tj ET Q
q 0 0 0 rg BT 136.88 439.35 Td (from ) Tj ET Q
q 0 0 0 rg BT 159.07 439.35 Td (estimates ) Tj ET Q
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q 0 0 0 rg BT 300.72 439.35 Td (have ) Tj ET Q
q 0 0 0 rg BT 322.33 439.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 328.77 439.35 Td (material ) Tj ET Q
q 0 0 0 rg BT 364.94 439.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 395.30 439.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 407.58 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 422.19 439.35 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 477.04 439.35 Td (financial ) Tj ET Q
q 0 0 0 rg BT 515.55 439.35 Td (statements.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (W) Tj ET Q
q 0 0 0 rg BT 58.57 414.15 Td (e ) Tj ET Q
q 0 0 0 rg BT 65.86 414.15 Td (consider ) Tj ET Q
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q 0 0 0 rg BT 318.66 414.15 Td (that ) Tj ET Q
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q 0 0 0 rg BT 371.15 414.15 Td (significant ) Tj ET Q
q 0 0 0 rg BT 418.10 414.15 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 459.80 414.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 471.17 414.15 Td (judgments. ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (Consolidation) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (In ) Tj ET Q
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q 0 0 0 rg BT 77.04 376.35 Td (normal ) Tj ET Q
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q 0 0 0 rg BT 260.92 376.35 Td (and ) Tj ET Q
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q 0 0 0 rg BT 510.83 376.35 Td (services, ) Tj ET Q
q 0 0 0 rg BT 550.26 376.35 Td (we ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 64.72 363.75 Td (entitled ) Tj ET Q
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q 0 0 0 rg BT 197.93 363.75 Td (fees ) Tj ET Q
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q 0 0 0 rg BT 267.58 363.75 Td (eligible, ) Tj ET Q
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q 0 0 0 rg BT 469.13 363.75 Td (additional ) Tj ET Q
q 0 0 0 rg BT 513.52 363.75 Td (subordinate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 106.33 351.15 Td (fees ) Tj ET Q
q 0 0 0 rg BT 126.42 351.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 138.35 351.15 Td (other ) Tj ET Q
q 0 0 0 rg BT 163.11 351.15 Td (incentive ) Tj ET Q
q 0 0 0 rg BT 204.78 351.15 Td (fees. ) Tj ET Q
q 0 0 0 rg BT 227.49 351.15 Td (Our ) Tj ET Q
q 0 0 0 rg BT 247.00 351.15 Td (exposure ) Tj ET Q
q 0 0 0 rg BT 288.09 351.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 299.44 351.15 Td (risk ) Tj ET Q
q 0 0 0 rg BT 318.38 351.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 329.73 351.15 Td (these ) Tj ET Q
q 0 0 0 rg BT 354.49 351.15 Td (entities, ) Tj ET Q
q 0 0 0 rg BT 390.62 351.15 Td (except ) Tj ET Q
q 0 0 0 rg BT 421.21 351.15 Td (those ) Tj ET Q
q 0 0 0 rg BT 446.56 351.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 461.98 351.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 490.83 351.15 Td (total ) Tj ET Q
q 0 0 0 rg BT 512.68 351.15 Td (return ) Tj ET Q
q 0 0 0 rg BT 540.93 351.15 Td (swap ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 502.35 338.55 Td (we ) Tj ET Q
q 0 0 0 rg BT 517.27 338.55 Td (have ) Tj ET Q
q 0 0 0 rg BT 539.76 338.55 Td (made ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (or ) Tj ET Q
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q 0 0 0 rg BT 221.43 325.95 Td (but ) Tj ET Q
q 0 0 0 rg BT 237.79 325.95 Td (uncollected ) Tj ET Q
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q 0 0 0 rg BT 345.72 325.95 Td (fees. ) Tj ET Q
q 0 0 0 rg BT 368.20 325.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 371.14 325.95 Td (Uncollected ) Tj ET Q
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q 0 0 0 rg BT 481.40 325.95 Td (fees ) Tj ET Q
q 0 0 0 rg BT 501.25 325.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 524.61 325.95 Td (managed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (investment ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (these ) Tj ET Q
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q 0 0 0 rg BT 122.80 300.75 Td (products ) Tj ET Q
q 0 0 0 rg BT 161.78 300.75 Td (or ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (accordance ) Tj ET Q
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q 0 0 0 rg BT 395.19 288.15 Td (investment ) Tj ET Q
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q 0 0 0 rg BT 549.69 288.15 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.55 Td (designated ) Tj ET Q
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q 0 0 0 rg BT 523.44 275.55 Td (Financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 262.95 Td (Statements ) Tj ET Q
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q 0 0 0 rg BT 111.33 262.95 Td (a�three-month ) Tj ET Q
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q 0 0 0 rg BT 336.72 262.95 Td (financial ) Tj ET Q
q 0 0 0 rg BT 376.08 262.95 Td (information.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 237.75 Td (Certain ) Tj ET Q
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q 0 0 0 rg BT 129.77 237.75 Td (products ) Tj ET Q
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q 0 0 0 rg BT 181.46 237.75 Td (sponsor ) Tj ET Q
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q 0 0 0 rg BT 417.81 237.75 Td (entities ) Tj ET Q
q 0 0 0 rg BT 449.78 237.75 Td (\("VIEs"\) ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 225.15 Td (below\) ) Tj ET Q
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q 0 0 0 rg BT 249.72 225.15 Td (rights ) Tj ET Q
q 0 0 0 rg BT 275.99 225.15 Td (entities ) Tj ET Q
q 0 0 0 rg BT 308.68 225.15 Td (\(�VREs�\) ) Tj ET Q
q 0 0 0 rg BT 352.43 225.15 Td (subject ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 524.02 199.95 Td (\(kick-out ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 350.43 603.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 365.31 603.30 Td (power ) Tj ET Q
q 0 0 0 rg BT 393.61 603.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 403.83 603.30 Td (direct ) Tj ET Q
q 0 0 0 rg BT 429.79 603.30 Td (activities ) Tj ET Q
q 0 0 0 rg BT 469.74 603.30 Td (that ) Tj ET Q
q 0 0 0 rg BT 487.54 603.30 Td (most ) Tj ET Q
q 0 0 0 rg BT 510.02 603.30 Td (significantly ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.70 Td (impact ) Tj ET Q
q 0 0 0 rg BT 80.60 590.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 95.96 590.70 Td (economic ) Tj ET Q
q 0 0 0 rg BT 139.31 590.70 Td (performance ) Tj ET Q
q 0 0 0 rg BT 194.88 590.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 206.16 590.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 221.33 590.70 Td (VIE ) Tj ET Q
q 0 0 0 rg BT 241.36 590.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 259.05 590.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 274.40 590.70 Td (obligation ) Tj ET Q
q 0 0 0 rg BT 319.51 590.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 330.21 590.70 Td (absorb ) Tj ET Q
q 0 0 0 rg BT 360.73 590.70 Td (losses ) Tj ET Q
q 0 0 0 rg BT 388.35 590.70 Td (or ) Tj ET Q
q 0 0 0 rg BT 399.62 590.70 Td (receive ) Tj ET Q
q 0 0 0 rg BT 432.46 590.70 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 468.23 590.70 Td (from ) Tj ET Q
q 0 0 0 rg BT 491.17 590.70 Td (variable ) Tj ET Q
q 0 0 0 rg BT 527.51 590.70 Td (interests ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 578.10 Td (that ) Tj ET Q
q 0 0 0 rg BT 66.84 578.10 Td (could ) Tj ET Q
q 0 0 0 rg BT 91.76 578.10 Td (be ) Tj ET Q
q 0 0 0 rg BT 103.26 578.10 Td (significant ) Tj ET Q
q 0 0 0 rg BT 149.18 578.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 158.94 578.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 173.25 578.10 Td (VIE. ) Tj ET Q
q 0 0 0 rg BT 194.96 578.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 196.55 578.10 Td (In ) Tj ET Q
q 0 0 0 rg BT 206.89 578.10 Td (determining ) Tj ET Q
q 0 0 0 rg BT 259.22 578.10 Td (whether ) Tj ET Q
q 0 0 0 rg BT 294.64 578.10 Td (it ) Tj ET Q
q 0 0 0 rg BT 302.06 578.10 Td (is ) Tj ET Q
q 0 0 0 rg BT 310.66 578.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 325.08 578.10 Td (primary ) Tj ET Q
q 0 0 0 rg BT 359.92 578.10 Td (beneficiary ) Tj ET Q
q 0 0 0 rg BT 408.73 578.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 419.07 578.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 425.21 578.10 Td (VIE, ) Tj ET Q
q 0 0 0 rg BT 446.92 578.10 Td (we ) Tj ET Q
q 0 0 0 rg BT 460.76 578.10 Td (consider ) Tj ET Q
q 0 0 0 rg BT 497.92 578.10 Td (both ) Tj ET Q
q 0 0 0 rg BT 518.18 578.10 Td (qualitative ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.46 565.50 Td (quantitative ) Tj ET Q
q 0 0 0 rg BT 119.83 565.50 Td (factors ) Tj ET Q
q 0 0 0 rg BT 151.20 565.50 Td (such ) Tj ET Q
q 0 0 0 rg BT 173.24 565.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 184.79 565.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 200.42 565.50 Td (voting ) Tj ET Q
q 0 0 0 rg BT 230.05 565.50 Td (rights ) Tj ET Q
q 0 0 0 rg BT 256.77 565.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 268.31 565.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 283.94 565.50 Td (equity ) Tj ET Q
q 0 0 0 rg BT 312.99 565.50 Td (holders, ) Tj ET Q
q 0 0 0 rg BT 349.32 565.50 Td (guarantees, ) Tj ET Q
q 0 0 0 rg BT 399.64 565.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 417.60 565.50 Td (implied ) Tj ET Q
q 0 0 0 rg BT 452.48 565.50 Td (relationships. ) Tj ET Q
q 0 0 0 rg BT 511.56 565.50 Td (If ) Tj ET Q
q 0 0 0 rg BT 521.36 565.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 528.82 565.50 Td (fee ) Tj ET Q
q 0 0 0 rg BT 544.43 565.50 Td (paid ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.29 552.90 Td (a ) Tj ET Q
q 0 0 0 rg BT 67.58 552.90 Td (decision ) Tj ET Q
q 0 0 0 rg BT 105.20 552.90 Td (maker ) Tj ET Q
q 0 0 0 rg BT 134.06 552.90 Td (is ) Tj ET Q
q 0 0 0 rg BT 143.69 552.90 Td (not ) Tj ET Q
q 0 0 0 rg BT 159.73 552.90 Td (market-based, ) Tj ET Q
q 0 0 0 rg BT 221.53 552.90 Td (it ) Tj ET Q
q 0 0 0 rg BT 229.99 552.90 Td (will ) Tj ET Q
q 0 0 0 rg BT 248.96 552.90 Td (be ) Tj ET Q
q 0 0 0 rg BT 261.49 552.90 Td (included ) Tj ET Q
q 0 0 0 rg BT 300.27 552.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 311.06 552.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 326.52 552.90 Td (primary ) Tj ET Q
q 0 0 0 rg BT 362.38 552.90 Td (beneficiary ) Tj ET Q
q 0 0 0 rg BT 412.23 552.90 Td (determination. ) Tj ET Q
q 0 0 0 rg BT 475.79 552.90 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.70 Td (During ) Tj ET Q
q 0 0 0 rg BT 81.33 527.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 96.24 527.70 Td (year ) Tj ET Q
q 0 0 0 rg BT 116.40 527.70 Td (ended ) Tj ET Q
q 0 0 0 rg BT 143.55 527.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 173.04 527.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 188.25 527.70 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 213.96 527.70 Td (we ) Tj ET Q
q 0 0 0 rg BT 228.28 527.70 Td (entered ) Tj ET Q
q 0 0 0 rg BT 261.26 527.70 Td (into ) Tj ET Q
q 0 0 0 rg BT 279.68 527.70 Td (various ) Tj ET Q
q 0 0 0 rg BT 312.68 527.70 Td (total ) Tj ET Q
q 0 0 0 rg BT 333.43 527.70 Td (return ) Tj ET Q
q 0 0 0 rg BT 360.58 527.70 Td (swap ) Tj ET Q
q 0 0 0 rg BT 384.24 527.70 Td (arrangements ) Tj ET Q
q 0 0 0 rg BT 442.89 527.70 Td (with ) Tj ET Q
q 0 0 0 rg BT 463.64 527.70 Td (financial ) Tj ET Q
q 0 0 0 rg BT 502.45 527.70 Td (intermediaries ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 515.10 Td (with ) Tj ET Q
q 0 0 0 rg BT 70.60 515.10 Td (respect ) Tj ET Q
q 0 0 0 rg BT 102.76 515.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 113.35 515.10 Td (two ) Tj ET Q
q 0 0 0 rg BT 131.53 515.10 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 155.54 515.10 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 186.55 515.10 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 231.56 515.10 Td (ETFs. ) Tj ET Q
q 0 0 0 rg BT 259.37 515.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 261.79 515.10 Td (Under ) Tj ET Q
q 0 0 0 rg BT 290.46 515.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 305.72 515.10 Td (terms ) Tj ET Q
q 0 0 0 rg BT 331.48 515.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 342.65 515.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 357.91 515.10 Td (total ) Tj ET Q
q 0 0 0 rg BT 379.00 515.10 Td (return ) Tj ET Q
q 0 0 0 rg BT 406.50 515.10 Td (swaps, ) Tj ET Q
q 0 0 0 rg BT 437.22 515.10 Td (we ) Tj ET Q
q 0 0 0 rg BT 451.89 515.10 Td (absorb ) Tj ET Q
q 0 0 0 rg BT 482.32 515.10 Td (all ) Tj ET Q
q 0 0 0 rg BT 495.24 515.10 Td (gains ) Tj ET Q
q 0 0 0 rg BT 519.83 515.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 537.42 515.10 Td (losses ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.50 Td (on ) Tj ET Q
q 0 0 0 rg BT 62.18 502.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 77.19 502.50 Td (underlying ) Tj ET Q
q 0 0 0 rg BT 124.86 502.50 Td (ETF ) Tj ET Q
q 0 0 0 rg BT 145.71 502.50 Td (investments ) Tj ET Q
q 0 0 0 rg BT 198.05 502.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 208.97 502.50 Td (these ) Tj ET Q
q 0 0 0 rg BT 232.73 502.50 Td (financial ) Tj ET Q
q 0 0 0 rg BT 271.64 502.50 Td (intermediaries, ) Tj ET Q
q 0 0 0 rg BT 336.50 502.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 353.84 502.50 Td (therefore ) Tj ET Q
q 0 0 0 rg BT 393.91 502.50 Td (have ) Tj ET Q
q 0 0 0 rg BT 415.91 502.50 Td (variable ) Tj ET Q
q 0 0 0 rg BT 451.90 502.50 Td (interests ) Tj ET Q
q 0 0 0 rg BT 489.08 502.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 499.42 502.50 Td (each ) Tj ET Q
q 0 0 0 rg BT 520.83 502.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 531.76 502.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 546.77 502.50 Td (two ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.90 Td (related ) Tj ET Q
q 0 0 0 rg BT 80.58 489.90 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 109.05 489.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 126.72 489.90 Td (are ) Tj ET Q
q 0 0 0 rg BT 142.05 489.90 Td (deemed ) Tj ET Q
q 0 0 0 rg BT 177.22 489.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 187.90 489.90 Td (be ) Tj ET Q
q 0 0 0 rg BT 200.32 489.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 215.67 489.90 Td (primary ) Tj ET Q
q 0 0 0 rg BT 251.42 489.90 Td (beneficiary) Tj ET Q
q 0 0 0 rg BT 297.96 489.90 Td (. ) Tj ET Q
q 0 0 0 rg BT 303.10 489.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 305.43 489.90 Td (W) Tj ET Q
q 0 0 0 rg BT 314.50 489.90 Td (e ) Tj ET Q
q 0 0 0 rg BT 321.67 489.90 Td (consolidate ) Tj ET Q
q 0 0 0 rg BT 372.01 489.90 Td (each ) Tj ET Q
q 0 0 0 rg BT 393.75 489.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 405.01 489.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 420.35 489.90 Td (two ) Tj ET Q
q 0 0 0 rg BT 438.62 489.90 Td (ETFs, ) Tj ET Q
q 0 0 0 rg BT 466.51 489.90 Td (which ) Tj ET Q
q 0 0 0 rg BT 494.69 489.90 Td (were ) Tj ET Q
q 0 0 0 rg BT 517.60 489.90 Td (designated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.30 Td (as ) Tj ET Q
q 0 0 0 rg BT 60.87 477.30 Td (CIVs. ) Tj ET Q
q 0 0 0 rg BT 88.29 477.30 Td ( ) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 49.50 452.10 Td (Prior ) Tj ET Q
q 0 0 0 rg BT 74.88 452.10 Td (Consolidation ) Tj ET Q
q 0 0 0 rg BT 137.80 452.10 Td (Accounting ) Tj ET Q
q 0 0 0 rg BT 190.61 452.10 Td (Guidance) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.50 Td (For ) Tj ET Q
q 0 0 0 rg BT 66.33 439.50 Td (years ) Tj ET Q
q 0 0 0 rg BT 90.73 439.50 Td (ending ) Tj ET Q
q 0 0 0 rg BT 121.55 439.50 Td (prior ) Tj ET Q
q 0 0 0 rg BT 144.21 439.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 154.12 439.50 Td (April ) Tj ET Q
q 0 0 0 rg BT 178.53 439.50 Td (1, ) Tj ET Q
q 0 0 0 rg BT 188.65 439.50 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 214.52 439.50 Td (under ) Tj ET Q
q 0 0 0 rg BT 240.67 439.50 Td (prior ) Tj ET Q
q 0 0 0 rg BT 263.33 439.50 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 311.64 439.50 Td (guidance, ) Tj ET Q
q 0 0 0 rg BT 354.41 439.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 368.89 439.50 Td (most ) Tj ET Q
q 0 0 0 rg BT 391.56 439.50 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 436.38 439.50 Td (investment ) Tj ET Q
q 0 0 0 rg BT 484.70 439.50 Td (fund ) Tj ET Q
q 0 0 0 rg BT 506.03 439.50 Td (VIEs ) Tj ET Q
q 0 0 0 rg BT 529.86 439.50 Td (deemed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.14 426.90 Td (be ) Tj ET Q
q 0 0 0 rg BT 72.53 426.90 Td (investment ) Tj ET Q
q 0 0 0 rg BT 121.08 426.90 Td (companies, ) Tj ET Q
q 0 0 0 rg BT 171.08 426.90 Td (including ) Tj ET Q
q 0 0 0 rg BT 213.22 426.90 Td (money ) Tj ET Q
q 0 0 0 rg BT 244.28 426.90 Td (market ) Tj ET Q
q 0 0 0 rg BT 275.90 426.90 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 304.34 426.90 Td (our ) Tj ET Q
q 0 0 0 rg BT 320.81 426.90 Td (determination ) Tj ET Q
q 0 0 0 rg BT 381.60 426.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 392.82 426.90 Td (expected ) Tj ET Q
q 0 0 0 rg BT 432.61 426.90 Td (residual ) Tj ET Q
q 0 0 0 rg BT 468.32 426.90 Td (returns ) Tj ET Q
q 0 0 0 rg BT 499.95 426.90 Td (excluded ) Tj ET Q
q 0 0 0 rg BT 540.33 426.90 Td (gross ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.30 Td (fees ) Tj ET Q
q 0 0 0 rg BT 69.06 414.30 Td (paid ) Tj ET Q
q 0 0 0 rg BT 89.80 414.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 100.63 414.30 Td (a ) Tj ET Q
q 0 0 0 rg BT 107.95 414.30 Td (decision ) Tj ET Q
q 0 0 0 rg BT 145.60 414.30 Td (maker ) Tj ET Q
q 0 0 0 rg BT 174.50 414.30 Td (if ) Tj ET Q
q 0 0 0 rg BT 183.57 414.30 Td (certain ) Tj ET Q
q 0 0 0 rg BT 214.79 414.30 Td (criteria ) Tj ET Q
q 0 0 0 rg BT 247.18 414.30 Td (relating ) Tj ET Q
q 0 0 0 rg BT 281.91 414.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 292.74 414.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 308.23 414.30 Td (fees ) Tj ET Q
q 0 0 0 rg BT 327.79 414.30 Td (were ) Tj ET Q
q 0 0 0 rg BT 350.85 414.30 Td (met. ) Tj ET Q
q 0 0 0 rg BT 371.88 414.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 374.54 414.30 Td (In ) Tj ET Q
q 0 0 0 rg BT 385.95 414.30 Td (determining ) Tj ET Q
q 0 0 0 rg BT 439.34 414.30 Td (whether ) Tj ET Q
q 0 0 0 rg BT 475.82 414.30 Td (we ) Tj ET Q
q 0 0 0 rg BT 490.73 414.30 Td (were ) Tj ET Q
q 0 0 0 rg BT 513.79 414.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 529.27 414.30 Td (primary ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.70 Td (beneficiary ) Tj ET Q
q 0 0 0 rg BT 99.12 401.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 110.26 401.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 117.14 401.70 Td (VIE, ) Tj ET Q
q 0 0 0 rg BT 139.65 401.70 Td (we ) Tj ET Q
q 0 0 0 rg BT 154.29 401.70 Td (considered ) Tj ET Q
q 0 0 0 rg BT 202.17 401.70 Td (both ) Tj ET Q
q 0 0 0 rg BT 223.23 401.70 Td (qualitative ) Tj ET Q
q 0 0 0 rg BT 269.94 401.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 287.50 401.70 Td (quantitative ) Tj ET Q
q 0 0 0 rg BT 339.46 401.70 Td (factors ) Tj ET Q
q 0 0 0 rg BT 370.42 401.70 Td (such ) Tj ET Q
q 0 0 0 rg BT 392.07 401.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 403.21 401.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 418.43 401.70 Td (voting ) Tj ET Q
q 0 0 0 rg BT 447.66 401.70 Td (rights ) Tj ET Q
q 0 0 0 rg BT 473.97 401.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 485.11 401.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 500.34 401.70 Td (equity ) Tj ET Q
q 0 0 0 rg BT 528.98 401.70 Td (holders, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 389.10 Td (economic ) Tj ET Q
q 0 0 0 rg BT 92.93 389.10 Td (participation ) Tj ET Q
q 0 0 0 rg BT 148.62 389.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 159.98 389.10 Td (all ) Tj ET Q
q 0 0 0 rg BT 173.09 389.10 Td (parties ) Tj ET Q
q 0 0 0 rg BT 203.70 389.10 Td (\(including ) Tj ET Q
q 0 0 0 rg BT 249.47 389.10 Td (how ) Tj ET Q
q 0 0 0 rg BT 270.17 389.10 Td (fees ) Tj ET Q
q 0 0 0 rg BT 289.69 389.10 Td (were ) Tj ET Q
q 0 0 0 rg BT 312.71 389.10 Td (earned ) Tj ET Q
q 0 0 0 rg BT 343.30 389.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 361.08 389.10 Td (paid ) Tj ET Q
q 0 0 0 rg BT 381.77 389.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 392.56 389.10 Td (us\), ) Tj ET Q
q 0 0 0 rg BT 410.63 389.10 Td (related ) Tj ET Q
q 0 0 0 rg BT 441.81 389.10 Td (party ) Tj ET Q
q 0 0 0 rg BT 466.00 389.10 Td (ownership, ) Tj ET Q
q 0 0 0 rg BT 514.99 389.10 Td (guarantees, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.29 376.50 Td (implied ) Tj ET Q
q 0 0 0 rg BT 101.99 376.50 Td (relationships. ) Tj ET Q
q 0 0 0 rg BT 160.90 376.50 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.30 Td (For ) Tj ET Q
q 0 0 0 rg BT 67.46 351.30 Td (other ) Tj ET Q
q 0 0 0 rg BT 92.41 351.30 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 138.37 351.30 Td (investment ) Tj ET Q
q 0 0 0 rg BT 187.82 351.30 Td (funds ) Tj ET Q
q 0 0 0 rg BT 214.53 351.30 Td (that ) Tj ET Q
q 0 0 0 rg BT 233.65 351.30 Td (did ) Tj ET Q
q 0 0 0 rg BT 250.45 351.30 Td (not ) Tj ET Q
q 0 0 0 rg BT 267.24 351.30 Td (meet ) Tj ET Q
q 0 0 0 rg BT 291.02 351.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 307.23 351.30 Td (investment ) Tj ET Q
q 0 0 0 rg BT 356.68 351.30 Td (company ) Tj ET Q
q 0 0 0 rg BT 398.54 351.30 Td (criteria, ) Tj ET Q
q 0 0 0 rg BT 434.27 351.30 Td (we ) Tj ET Q
q 0 0 0 rg BT 449.89 351.30 Td (determined ) Tj ET Q
q 0 0 0 rg BT 500.50 351.30 Td (if ) Tj ET Q
q 0 0 0 rg BT 510.29 351.30 Td (we ) Tj ET Q
q 0 0 0 rg BT 525.91 351.30 Td (were ) Tj ET Q
q 0 0 0 rg BT 549.69 351.30 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.70 Td (primary ) Tj ET Q
q 0 0 0 rg BT 85.40 338.70 Td (beneficiary ) Tj ET Q
q 0 0 0 rg BT 135.28 338.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 146.69 338.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 153.82 338.70 Td (VIE ) Tj ET Q
q 0 0 0 rg BT 173.97 338.70 Td (if ) Tj ET Q
q 0 0 0 rg BT 183.05 338.70 Td (we ) Tj ET Q
q 0 0 0 rg BT 197.95 338.70 Td (had ) Tj ET Q
q 0 0 0 rg BT 215.78 338.70 Td (both ) Tj ET Q
q 0 0 0 rg BT 237.10 338.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 252.59 338.70 Td (power ) Tj ET Q
q 0 0 0 rg BT 281.49 338.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 292.32 338.70 Td (direct ) Tj ET Q
q 0 0 0 rg BT 318.89 338.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 334.38 338.70 Td (activities ) Tj ET Q
q 0 0 0 rg BT 374.94 338.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 386.35 338.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 401.65 338.70 Td (VIE ) Tj ET Q
q 0 0 0 rg BT 421.80 338.70 Td (that ) Tj ET Q
q 0 0 0 rg BT 440.21 338.70 Td (most ) Tj ET Q
q 0 0 0 rg BT 463.29 338.70 Td (significantly ) Tj ET Q
q 0 0 0 rg BT 518.44 338.70 Td (impact ) Tj ET Q
q 0 0 0 rg BT 549.68 338.70 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 326.10 Td (entity's ) Tj ET Q
q 0 0 0 rg BT 81.93 326.10 Td (economic ) Tj ET Q
q 0 0 0 rg BT 125.29 326.10 Td (performance ) Tj ET Q
q 0 0 0 rg BT 180.88 326.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 198.58 326.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 213.95 326.10 Td (obligation ) Tj ET Q
q 0 0 0 rg BT 259.08 326.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 269.79 326.10 Td (absorb ) Tj ET Q
q 0 0 0 rg BT 300.32 326.10 Td (losses, ) Tj ET Q
q 0 0 0 rg BT 330.57 326.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 341.86 326.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 357.23 326.10 Td (right ) Tj ET Q
q 0 0 0 rg BT 379.61 326.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 390.31 326.10 Td (receive ) Tj ET Q
q 0 0 0 rg BT 423.16 326.10 Td (benefits, ) Tj ET Q
q 0 0 0 rg BT 461.57 326.10 Td (that ) Tj ET Q
q 0 0 0 rg BT 479.86 326.10 Td (could ) Tj ET Q
q 0 0 0 rg BT 505.73 326.10 Td (be ) Tj ET Q
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q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q
q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q
BT /F1 10.00 Tf ET
0 Tr
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0 Tw 0 Tc 100 Tz 0 TL 
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 300.75 31.25 Td (74) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 741.75 Td (execution ) Tj ET Q
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q 0 0 0 rg BT 499.90 741.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 512.94 741.75 Td (information ) Tj ET Q
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q 0 0 0 rg BT 502.74 729.15 Td (fund ) Tj ET Q
q 0 0 0 rg BT 524.15 729.15 Td (manager) Tj ET Q
q 0 0 0 rg BT 559.88 729.15 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 235.67 716.55 Td (thereof\). ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 515.86 703.95 Td (application ) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 446.39 628.35 Td (custodians ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 354.19 615.75 Td (custodian.) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 565.12 590.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (Equity ) Tj ET Q
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q 0 0 0 rg BT 398.00 577.95 Td (usually ) Tj ET Q
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q 0 0 0 rg BT 542.09 577.95 Td (sales ) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 344.44 540.15 Td (dealers, ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (and ) Tj ET Q
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q 0 0 0 rg BT 391.45 527.55 Td (generally ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (services, ) Tj ET Q
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q 0 0 0 rg BT 254.86 502.35 Td (brokers. ) Tj ET Q
q 0 0 0 rg BT 291.42 502.35 Td ( ) Tj ET Q
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q 0 0 0 rg BT 399.13 502.35 Td (time ) Tj ET Q
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q 0 0 0 rg BT 517.02 502.35 Td (underlying ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (composition ) Tj ET Q
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q 0 0 0 rg BT 114.79 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 129.93 489.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 152.65 489.75 Td (class ) Tj ET Q
q 0 0 0 rg BT 175.38 489.75 Td (\(equity) Tj ET Q
q 0 0 0 rg BT 204.44 489.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 209.38 489.75 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 233.26 489.75 Td (income ) Tj ET Q
q 0 0 0 rg BT 266.48 489.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 283.95 489.75 Td (liquidity\) ) Tj ET Q
q 0 0 0 rg BT 325.35 489.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 336.41 489.75 Td (well ) Tj ET Q
q 0 0 0 rg BT 356.80 489.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 367.86 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 383.00 489.75 Td (actual ) Tj ET Q
q 0 0 0 rg BT 410.38 489.75 Td (underlying ) Tj ET Q
q 0 0 0 rg BT 458.19 489.75 Td (securities ) Tj ET Q
q 0 0 0 rg BT 500.15 489.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 510.63 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 525.77 489.75 Td (portfolio ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (within ) Tj ET Q
q 0 0 0 rg BT 79.79 477.15 Td (each ) Tj ET Q
q 0 0 0 rg BT 102.48 477.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 126.34 477.15 Td (class. ) Tj ET Q
q 0 0 0 rg BT 152.83 477.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 156.29 477.15 Td (Regardless ) Tj ET Q
q 0 0 0 rg BT 205.81 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 218.01 477.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 234.30 477.15 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 276.82 477.15 Td (process ) Tj ET Q
q 0 0 0 rg BT 311.77 477.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 323.97 477.15 Td (pricing ) Tj ET Q
q 0 0 0 rg BT 357.17 477.15 Td (source, ) Tj ET Q
q 0 0 0 rg BT 390.65 477.15 Td (we ) Tj ET Q
q 0 0 0 rg BT 406.35 477.15 Td (have ) Tj ET Q
q 0 0 0 rg BT 429.62 477.15 Td (established ) Tj ET Q
q 0 0 0 rg BT 479.73 477.15 Td (controls ) Tj ET Q
q 0 0 0 rg BT 517.02 477.15 Td (reasonably ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (designed ) Tj ET Q
q 0 0 0 rg BT 89.45 464.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 100.24 464.55 Td (assess ) Tj ET Q
q 0 0 0 rg BT 128.53 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 143.99 464.55 Td (reasonableness ) Tj ET Q
q 0 0 0 rg BT 209.59 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 220.96 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 236.41 464.55 Td (prices ) Tj ET Q
q 0 0 0 rg BT 264.11 464.55 Td (provided. ) Tj ET Q
q 0 0 0 rg BT 306.69 464.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (Where ) Tj ET Q
q 0 0 0 rg BT 81.25 439.35 Td (market ) Tj ET Q
q 0 0 0 rg BT 114.17 439.35 Td (prices ) Tj ET Q
q 0 0 0 rg BT 143.02 439.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 159.60 439.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 176.79 439.35 Td (readily ) Tj ET Q
q 0 0 0 rg BT 209.72 439.35 Td (available, ) Tj ET Q
q 0 0 0 rg BT 254.01 439.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 266.53 439.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 283.11 439.35 Td (determined ) Tj ET Q
q 0 0 0 rg BT 334.12 439.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 351.31 439.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 363.24 439.35 Td (reflect ) Tj ET Q
q 0 0 0 rg BT 393.82 439.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 412.17 439.35 Td (value, ) Tj ET Q
q 0 0 0 rg BT 441.30 439.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 467.81 439.35 Td (may ) Tj ET Q
q 0 0 0 rg BT 489.66 439.35 Td (be ) Tj ET Q
q 0 0 0 rg BT 503.34 439.35 Td (determined ) Tj ET Q
q 0 0 0 rg BT 554.34 439.35 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (accordance ) Tj ET Q
q 0 0 0 rg BT 99.02 426.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 120.00 426.75 Td (established ) Tj ET Q
q 0 0 0 rg BT 168.97 426.75 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 210.35 426.75 Td (procedures ) Tj ET Q
q 0 0 0 rg BT 258.73 426.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 284.94 426.75 Td (on, ) Tj ET Q
q 0 0 0 rg BT 300.38 426.75 Td (among ) Tj ET Q
q 0 0 0 rg BT 331.27 426.75 Td (other ) Tj ET Q
q 0 0 0 rg BT 355.16 426.75 Td (things, ) Tj ET Q
q 0 0 0 rg BT 385.76 426.75 Td (unobservable ) Tj ET Q
q 0 0 0 rg BT 444.06 426.75 Td (inputs. ) Tj ET Q
q 0 0 0 rg BT 474.66 426.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 476.81 426.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 495.44 426.75 Td (most ) Tj ET Q
q 0 0 0 rg BT 518.18 426.75 Td (significant ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (portion ) Tj ET Q
q 0 0 0 rg BT 82.11 414.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 93.14 414.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 108.91 414.15 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 135.70 414.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 150.22 414.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 178.16 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 193.27 414.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 210.12 414.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 235.14 414.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 244.42 414.15 Td (determined ) Tj ET Q
q 0 0 0 rg BT 293.93 414.15 Td (based ) Tj ET Q
q 0 0 0 rg BT 320.12 414.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 332.90 414.15 Td (unobservable ) Tj ET Q
q 0 0 0 rg BT 391.17 414.15 Td (inputs ) Tj ET Q
q 0 0 0 rg BT 419.12 414.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 434.22 414.15 Td (certain ) Tj ET Q
q 0 0 0 rg BT 465.06 414.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 476.09 414.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 492.36 414.15 Td (real ) Tj ET Q
q 0 0 0 rg BT 510.38 414.15 Td (estate ) Tj ET Q
q 0 0 0 rg BT 536.56 414.15 Td (funds. ) Tj ET Q
q 0 0 0 rg BT 565.15 414.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 67.89 401.55 Td (values ) Tj ET Q
q 0 0 0 rg BT 96.78 401.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 107.60 401.55 Td (real ) Tj ET Q
q 0 0 0 rg BT 125.40 401.55 Td (estate ) Tj ET Q
q 0 0 0 rg BT 151.37 401.55 Td (investments ) Tj ET Q
q 0 0 0 rg BT 203.60 401.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 218.48 401.55 Td (prepared ) Tj ET Q
q 0 0 0 rg BT 257.27 401.55 Td (giving ) Tj ET Q
q 0 0 0 rg BT 286.17 401.55 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 344.81 401.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 355.04 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 369.94 401.55 Td (income, ) Tj ET Q
q 0 0 0 rg BT 405.53 401.55 Td (cost ) Tj ET Q
q 0 0 0 rg BT 424.52 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 441.74 401.55 Td (sales ) Tj ET Q
q 0 0 0 rg BT 464.22 401.55 Td (comparison ) Tj ET Q
q 0 0 0 rg BT 515.28 401.55 Td (approaches ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.18 388.95 Td (estimating ) Tj ET Q
q 0 0 0 rg BT 107.86 388.95 Td (property ) Tj ET Q
q 0 0 0 rg BT 146.37 388.95 Td (value. ) Tj ET Q
q 0 0 0 rg BT 174.66 388.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 177.39 388.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 196.64 388.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 230.48 388.95 Td (approach ) Tj ET Q
q 0 0 0 rg BT 271.90 388.95 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 313.91 388.95 Td (an ) Tj ET Q
q 0 0 0 rg BT 326.75 388.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 360.59 388.95 Td (stream ) Tj ET Q
q 0 0 0 rg BT 391.51 388.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 406.69 388.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 414.29 388.95 Td (property ) Tj ET Q
q 0 0 0 rg BT 452.79 388.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 470.89 388.95 Td (discounts ) Tj ET Q
q 0 0 0 rg BT 513.49 388.95 Td (this ) Tj ET Q
q 0 0 0 rg BT 531.59 388.95 Td (income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (plus ) Tj ET Q
q 0 0 0 rg BT 69.55 376.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 76.77 376.35 Td (reversion ) Tj ET Q
q 0 0 0 rg BT 118.39 376.35 Td (\(presumed ) Tj ET Q
q 0 0 0 rg BT 165.25 376.35 Td (sale\) ) Tj ET Q
q 0 0 0 rg BT 187.63 376.35 Td (into ) Tj ET Q
q 0 0 0 rg BT 206.51 376.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 213.72 376.35 Td (present ) Tj ET Q
q 0 0 0 rg BT 246.60 376.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 271.89 376.35 Td (at ) Tj ET Q
q 0 0 0 rg BT 282.02 376.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 289.23 376.35 Td (risk ) Tj ET Q
q 0 0 0 rg BT 307.53 376.35 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 345.07 376.35 Td (rate. ) Tj ET Q
q 0 0 0 rg BT 365.98 376.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 368.15 376.35 Td (Y) Tj ET Q
q 0 0 0 rg BT 375.16 376.35 Td (ield ) Tj ET Q
q 0 0 0 rg BT 393.45 376.35 Td (rates ) Tj ET Q
q 0 0 0 rg BT 415.83 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 433.54 376.35 Td (growth ) Tj ET Q
q 0 0 0 rg BT 465.84 376.35 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 520.31 376.35 Td (utilized ) Tj ET Q
q 0 0 0 rg BT 554.35 376.35 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (this ) Tj ET Q
q 0 0 0 rg BT 67.64 363.75 Td (approach ) Tj ET Q
q 0 0 0 rg BT 109.08 363.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 124.87 363.75 Td (derived ) Tj ET Q
q 0 0 0 rg BT 159.32 363.75 Td (from ) Tj ET Q
q 0 0 0 rg BT 182.69 363.75 Td (market ) Tj ET Q
q 0 0 0 rg BT 214.81 363.75 Td (transactions ) Tj ET Q
q 0 0 0 rg BT 267.93 363.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 279.64 363.75 Td (well ) Tj ET Q
q 0 0 0 rg BT 300.69 363.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 312.40 363.75 Td (other ) Tj ET Q
q 0 0 0 rg BT 336.94 363.75 Td (financial ) Tj ET Q
q 0 0 0 rg BT 376.64 363.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 394.77 363.75 Td (industry ) Tj ET Q
q 0 0 0 rg BT 432.15 363.75 Td (data. ) Tj ET Q
q 0 0 0 rg BT 455.01 363.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 474.31 363.75 Td (discount ) Tj ET Q
q 0 0 0 rg BT 512.85 363.75 Td (rate ) Tj ET Q
q 0 0 0 rg BT 531.55 363.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 549.68 363.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (exit ) Tj ET Q
q 0 0 0 rg BT 68.26 351.15 Td (capitalization ) Tj ET Q
q 0 0 0 rg BT 127.83 351.15 Td (rate ) Tj ET Q
q 0 0 0 rg BT 146.58 351.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 162.41 351.15 Td (significant ) Tj ET Q
q 0 0 0 rg BT 209.74 351.15 Td (inputs ) Tj ET Q
q 0 0 0 rg BT 238.43 351.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 249.61 351.15 Td (these ) Tj ET Q
q 0 0 0 rg BT 274.19 351.15 Td (valuations. ) Tj ET Q
q 0 0 0 rg BT 322.77 351.15 Td (These ) Tj ET Q
q 0 0 0 rg BT 350.86 351.15 Td (rates ) Tj ET Q
q 0 0 0 rg BT 373.69 351.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 389.52 351.15 Td (based ) Tj ET Q
q 0 0 0 rg BT 416.44 351.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 429.95 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 445.79 351.15 Td (location, ) Tj ET Q
q 0 0 0 rg BT 485.25 351.15 Td (type ) Tj ET Q
q 0 0 0 rg BT 506.34 351.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 524.52 351.15 Td (nature ) Tj ET Q
q 0 0 0 rg BT 553.77 351.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (each ) Tj ET Q
q 0 0 0 rg BT 72.35 338.55 Td (property) Tj ET Q
q 0 0 0 rg BT 107.24 338.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 113.48 338.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 132.25 338.55 Td (current ) Tj ET Q
q 0 0 0 rg BT 165.60 338.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 184.38 338.55 Td (anticipated ) Tj ET Q
q 0 0 0 rg BT 234.06 338.55 Td (market ) Tj ET Q
q 0 0 0 rg BT 266.83 338.55 Td (conditions. ) Tj ET Q
q 0 0 0 rg BT 316.82 338.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 320.17 338.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 340.11 338.55 Td (cost ) Tj ET Q
q 0 0 0 rg BT 360.64 338.55 Td (approach ) Tj ET Q
q 0 0 0 rg BT 402.74 338.55 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 445.43 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 461.87 338.55 Td (replacement ) Tj ET Q
q 0 0 0 rg BT 516.79 338.55 Td (cost ) Tj ET Q
q 0 0 0 rg BT 537.32 338.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 549.68 338.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (building ) Tj ET Q
q 0 0 0 rg BT 86.89 325.95 Td (less ) Tj ET Q
q 0 0 0 rg BT 105.02 325.95 Td (physical ) Tj ET Q
q 0 0 0 rg BT 142.40 325.95 Td (depreciation ) Tj ET Q
q 0 0 0 rg BT 196.67 325.95 Td (plus ) Tj ET Q
q 0 0 0 rg BT 216.56 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 231.78 325.95 Td (land ) Tj ET Q
q 0 0 0 rg BT 252.24 325.95 Td (value. ) Tj ET Q
q 0 0 0 rg BT 279.99 325.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 282.20 325.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 300.91 325.95 Td (sales ) Tj ET Q
q 0 0 0 rg BT 323.70 325.95 Td (comparison ) Tj ET Q
q 0 0 0 rg BT 375.08 325.95 Td (approach ) Tj ET Q
q 0 0 0 rg BT 415.94 325.95 Td (compares ) Tj ET Q
q 0 0 0 rg BT 458.56 325.95 Td (recent ) Tj ET Q
q 0 0 0 rg BT 486.59 325.95 Td (transactions ) Tj ET Q
q 0 0 0 rg BT 539.12 325.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 549.68 325.95 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (appraised ) Tj ET Q
q 0 0 0 rg BT 92.89 313.35 Td (property) Tj ET Q
q 0 0 0 rg BT 127.78 313.35 Td (. ) Tj ET Q
q 0 0 0 rg BT 132.87 313.35 Td (Adjustments ) Tj ET Q
q 0 0 0 rg BT 189.12 313.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 205.09 313.35 Td (made ) Tj ET Q
q 0 0 0 rg BT 230.99 313.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 246.39 313.35 Td (dissimilarities ) Tj ET Q
q 0 0 0 rg BT 308.47 313.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 337.29 313.35 Td (typically ) Tj ET Q
q 0 0 0 rg BT 377.19 313.35 Td (provide ) Tj ET Q
q 0 0 0 rg BT 412.43 313.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 420.25 313.35 Td (range ) Tj ET Q
q 0 0 0 rg BT 446.72 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 458.63 313.35 Td (value. ) Tj ET Q
q 0 0 0 rg BT 487.15 313.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 490.31 313.35 Td (Many ) Tj ET Q
q 0 0 0 rg BT 517.97 313.35 Td (factors ) Tj ET Q
q 0 0 0 rg BT 549.70 313.35 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (also ) Tj ET Q
q 0 0 0 rg BT 70.26 300.75 Td (considered ) Tj ET Q
q 0 0 0 rg BT 119.59 300.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 131.60 300.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 148.27 300.75 Td (determination ) Tj ET Q
q 0 0 0 rg BT 210.43 300.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 223.03 300.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 241.44 300.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 268.03 300.75 Td (including, ) Tj ET Q
q 0 0 0 rg BT 314.16 300.75 Td (but ) Tj ET Q
q 0 0 0 rg BT 331.42 300.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 348.69 300.75 Td (limited ) Tj ET Q
q 0 0 0 rg BT 382.28 300.75 Td (to, ) Tj ET Q
q 0 0 0 rg BT 396.92 300.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 413.59 300.75 Td (operating ) Tj ET Q
q 0 0 0 rg BT 457.09 300.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 479.59 300.75 Td (flows ) Tj ET Q
q 0 0 0 rg BT 506.77 300.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 525.78 300.75 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (performance ) Tj ET Q
q 0 0 0 rg BT 104.42 288.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 115.03 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 129.73 288.15 Td (properties, ) Tj ET Q
q 0 0 0 rg BT 176.21 288.15 Td (property ) Tj ET Q
q 0 0 0 rg BT 213.65 288.15 Td (types ) Tj ET Q
q 0 0 0 rg BT 237.68 288.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 254.71 288.15 Td (geographic ) Tj ET Q
q 0 0 0 rg BT 303.22 288.15 Td (locations, ) Tj ET Q
q 0 0 0 rg BT 345.62 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 360.32 288.15 Td (physical ) Tj ET Q
q 0 0 0 rg BT 397.18 288.15 Td (condition ) Tj ET Q
q 0 0 0 rg BT 438.71 288.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 449.32 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 464.02 288.15 Td (asset, ) Tj ET Q
q 0 0 0 rg BT 488.92 288.15 Td (prevailing ) Tj ET Q
q 0 0 0 rg BT 533.36 288.15 Td (market ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.55 Td (capitalization ) Tj ET Q
q 0 0 0 rg BT 109.75 275.55 Td (rates, ) Tj ET Q
q 0 0 0 rg BT 135.88 275.55 Td (prevailing ) Tj ET Q
q 0 0 0 rg BT 182.14 275.55 Td (market ) Tj ET Q
q 0 0 0 rg BT 214.98 275.55 Td (discount ) Tj ET Q
q 0 0 0 rg BT 254.25 275.55 Td (rates, ) Tj ET Q
q 0 0 0 rg BT 280.39 275.55 Td (general ) Tj ET Q
q 0 0 0 rg BT 314.98 275.55 Td (economic ) Tj ET Q
q 0 0 0 rg BT 359.48 275.55 Td (conditions, ) Tj ET Q
q 0 0 0 rg BT 409.54 275.55 Td (economic ) Tj ET Q
q 0 0 0 rg BT 454.05 275.55 Td (conditions ) Tj ET Q
q 0 0 0 rg BT 501.49 275.55 Td (specific ) Tj ET Q
q 0 0 0 rg BT 537.83 275.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 549.68 275.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 262.95 Td (market ) Tj ET Q
q 0 0 0 rg BT 82.06 262.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 93.63 262.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 122.69 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 138.92 262.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 166.82 262.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 183.04 262.95 Td (located, ) Tj ET Q
q 0 0 0 rg BT 219.39 262.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 237.95 262.95 Td (any ) Tj ET Q
q 0 0 0 rg BT 256.51 262.95 Td (specific ) Tj ET Q
q 0 0 0 rg BT 292.57 262.95 Td (rights ) Tj ET Q
q 0 0 0 rg BT 319.89 262.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 332.04 262.95 Td (terms ) Tj ET Q
q 0 0 0 rg BT 358.77 262.95 Td (associated ) Tj ET Q
q 0 0 0 rg BT 405.32 262.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 427.39 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 443.62 262.95 Td (investment. ) Tj ET Q
q 0 0 0 rg BT 495.73 262.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 499.13 262.95 Td (Because ) Tj ET Q
q 0 0 0 rg BT 537.52 262.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 549.67 262.95 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 250.35 Td (inherent ) Tj ET Q
q 0 0 0 rg BT 85.67 250.35 Td (uncertainties ) Tj ET Q
q 0 0 0 rg BT 141.08 250.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 151.60 250.35 Td (valuation, ) Tj ET Q
q 0 0 0 rg BT 195.06 250.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 209.66 250.35 Td (values ) Tj ET Q
q 0 0 0 rg BT 238.25 250.35 Td (may ) Tj ET Q
q 0 0 0 rg BT 258.10 250.35 Td (materially ) Tj ET Q
q 0 0 0 rg BT 302.43 250.35 Td (dif) Tj ET Q
q 0 0 0 rg BT 313.91 250.35 Td (fer ) Tj ET Q
q 0 0 0 rg BT 327.33 250.35 Td (from ) Tj ET Q
q 0 0 0 rg BT 349.51 250.35 Td (the ) Tj ET Q
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q 0 0 0 rg BT 221.11 678.75 Td (income ) Tj ET Q
q 0 0 0 rg BT 254.68 678.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 266.10 678.75 Td (loss ) Tj ET Q
q 0 0 0 rg BT 285.10 678.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 294.77 678.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 321.34 678.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 334.51 678.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 350.00 678.75 Td (most ) Tj ET Q
q 0 0 0 rg BT 373.08 678.75 Td (current ) Tj ET Q
q 0 0 0 rg BT 405.48 678.75 Td (information ) Tj ET Q
q 0 0 0 rg BT 457.72 678.75 Td (available ) Tj ET Q
q 0 0 0 rg BT 498.28 678.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 516.10 678.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 525.77 678.75 Td (recorded ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 60.87 666.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 68.16 666.15 Td (net ) Tj ET Q
q 0 0 0 rg BT 83.61 666.15 Td (gain ) Tj ET Q
q 0 0 0 rg BT 104.31 666.15 Td (\(loss\) ) Tj ET Q
q 0 0 0 rg BT 130.27 666.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 143.40 666.15 Td (investments ) Tj ET Q
q 0 0 0 rg BT 196.19 666.15 Td (within ) Tj ET Q
q 0 0 0 rg BT 225.65 666.15 Td (non-operating ) Tj ET Q
q 0 0 0 rg BT 287.17 666.15 Td (income ) Tj ET Q
q 0 0 0 rg BT 320.70 666.15 Td (\(expense\).) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 640.95 Td (For ) Tj ET Q
q 0 0 0 rg BT 67.01 640.95 Td (investments, ) Tj ET Q
q 0 0 0 rg BT 122.72 640.95 Td (we ) Tj ET Q
q 0 0 0 rg BT 137.88 640.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 163.54 640.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 192.71 640.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 210.79 640.95 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 235.29 640.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 269.11 640.95 Td (securities ) Tj ET Q
q 0 0 0 rg BT 311.69 640.95 Td (using ) Tj ET Q
q 0 0 0 rg BT 337.36 640.95 Td (closing ) Tj ET Q
q 0 0 0 rg BT 370.61 640.95 Td (market ) Tj ET Q
q 0 0 0 rg BT 402.69 640.95 Td (prices ) Tj ET Q
q 0 0 0 rg BT 430.68 640.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 445.85 640.95 Td (listed ) Tj ET Q
q 0 0 0 rg BT 471.52 640.95 Td (instruments ) Tj ET Q
q 0 0 0 rg BT 523.44 640.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 535.10 640.95 Td (broker ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 60.15 628.35 Td (dealer ) Tj ET Q
q 0 0 0 rg BT 87.69 628.35 Td (price ) Tj ET Q
q 0 0 0 rg BT 110.58 628.35 Td (quotations, ) Tj ET Q
q 0 0 0 rg BT 158.86 628.35 Td (when ) Tj ET Q
q 0 0 0 rg BT 183.50 628.35 Td (available. ) Tj ET Q
q 0 0 0 rg BT 225.92 628.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 227.82 628.35 Td (Fixed ) Tj ET Q
q 0 0 0 rg BT 253.64 628.35 Td (income ) Tj ET Q
q 0 0 0 rg BT 286.45 628.35 Td (securities ) Tj ET Q
q 0 0 0 rg BT 328.00 628.35 Td (may ) Tj ET Q
q 0 0 0 rg BT 347.98 628.35 Td (also ) Tj ET Q
q 0 0 0 rg BT 366.80 628.35 Td (be ) Tj ET Q
q 0 0 0 rg BT 378.61 628.35 Td (valued ) Tj ET Q
q 0 0 0 rg BT 408.50 628.35 Td (using ) Tj ET Q
q 0 0 0 rg BT 433.15 628.35 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 474.13 628.35 Td (models ) Tj ET Q
q 0 0 0 rg BT 506.36 628.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 523.42 628.35 Td (estimates ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 75.71 615.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 88.51 615.75 Td (spreads ) Tj ET Q
q 0 0 0 rg BT 122.30 615.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 132.76 615.75 Td (actively ) Tj ET Q
q 0 0 0 rg BT 168.30 615.75 Td (traded ) Tj ET Q
q 0 0 0 rg BT 196.83 615.75 Td (benchmark ) Tj ET Q
q 0 0 0 rg BT 245.78 615.75 Td (debt ) Tj ET Q
q 0 0 0 rg BT 266.15 615.75 Td (instruments ) Tj ET Q
q 0 0 0 rg BT 317.45 615.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 338.42 615.75 Td (readily ) Tj ET Q
q 0 0 0 rg BT 369.87 615.75 Td (available ) Tj ET Q
q 0 0 0 rg BT 410.07 615.75 Td (market ) Tj ET Q
q 0 0 0 rg BT 441.52 615.75 Td (prices. ) Tj ET Q
q 0 0 0 rg BT 471.52 615.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 473.65 615.75 Td (W) Tj ET Q
q 0 0 0 rg BT 482.72 615.75 Td (e ) Tj ET Q
q 0 0 0 rg BT 489.68 615.75 Td (evaluate ) Tj ET Q
q 0 0 0 rg BT 526.96 615.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 543.25 615.75 Td (non-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (trading ) Tj ET Q
q 0 0 0 rg BT 83.03 603.15 Td (investment ) Tj ET Q
q 0 0 0 rg BT 132.90 603.15 Td (securities ) Tj ET Q
q 0 0 0 rg BT 176.35 603.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 192.38 603.15 Td ("other ) Tj ET Q
q 0 0 0 rg BT 222.04 603.15 Td (than ) Tj ET Q
q 0 0 0 rg BT 243.90 603.15 Td (temporary" ) Tj ET Q
q 0 0 0 rg BT 295.13 603.15 Td (impairment. ) Tj ET Q
q 0 0 0 rg BT 349.95 603.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 353.75 603.15 Td (Impairment ) Tj ET Q
q 0 0 0 rg BT 406.52 603.15 Td (may ) Tj ET Q
q 0 0 0 rg BT 428.39 603.15 Td (exist ) Tj ET Q
q 0 0 0 rg BT 452.01 603.15 Td (when ) Tj ET Q
q 0 0 0 rg BT 478.55 603.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 495.17 603.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 513.53 603.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 540.06 603.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 552.60 603.15 Td (an ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (investment ) Tj ET Q
q 0 0 0 rg BT 97.37 590.55 Td (security ) Tj ET Q
q 0 0 0 rg BT 132.41 590.55 Td (has ) Tj ET Q
q 0 0 0 rg BT 148.20 590.55 Td (been ) Tj ET Q
q 0 0 0 rg BT 169.81 590.55 Td (below ) Tj ET Q
q 0 0 0 rg BT 197.27 590.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 211.89 590.55 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 248.68 590.55 Td (cost ) Tj ET Q
q 0 0 0 rg BT 267.39 590.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 281.42 590.55 Td (an ) Tj ET Q
q 0 0 0 rg BT 293.13 590.55 Td (extended ) Tj ET Q
q 0 0 0 rg BT 332.82 590.55 Td (period ) Tj ET Q
q 0 0 0 rg BT 361.44 590.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 371.98 590.55 Td (time. ) Tj ET Q
q 0 0 0 rg BT 395.07 590.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 396.86 590.55 Td (If ) Tj ET Q
q 0 0 0 rg BT 405.65 590.55 Td (an ) Tj ET Q
q 0 0 0 rg BT 417.35 590.55 Td ("other ) Tj ET Q
q 0 0 0 rg BT 445.01 590.55 Td (than ) Tj ET Q
q 0 0 0 rg BT 464.88 590.55 Td (temporary" ) Tj ET Q
q 0 0 0 rg BT 514.11 590.55 Td (impairment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 60.36 577.95 Td (determined ) Tj ET Q
q 0 0 0 rg BT 111.44 577.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 123.46 577.95 Td (exist, ) Tj ET Q
q 0 0 0 rg BT 149.78 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 166.46 577.95 Td (dif) Tj ET Q
q 0 0 0 rg BT 177.93 577.95 Td (ference ) Tj ET Q
q 0 0 0 rg BT 212.67 577.95 Td (between ) Tj ET Q
q 0 0 0 rg BT 251.51 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 268.19 577.95 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 307.04 577.95 Td (cost ) Tj ET Q
q 0 0 0 rg BT 327.81 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 340.41 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 357.09 577.95 Td (investment ) Tj ET Q
q 0 0 0 rg BT 407.02 577.95 Td (security ) Tj ET Q
q 0 0 0 rg BT 444.11 577.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 463.13 577.95 Td (its ) Tj ET Q
q 0 0 0 rg BT 476.90 577.95 Td (current ) Tj ET Q
q 0 0 0 rg BT 510.49 577.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 528.91 577.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 555.51 577.95 Td (is ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 98.18 565.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 109.55 565.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 116.84 565.35 Td (char) Tj ET Q
q 0 0 0 rg BT 134.72 565.35 Td (ge ) Tj ET Q
q 0 0 0 rg BT 147.25 565.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 158.05 565.35 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 196.24 565.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 207.04 565.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 222.49 565.35 Td (period ) Tj ET Q
q 0 0 0 rg BT 251.94 565.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 262.73 565.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 291.02 565.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 306.47 565.35 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 357.50 565.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 367.13 565.35 Td (determined.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (For ) Tj ET Q
q 0 0 0 rg BT 66.97 540.15 Td (investments ) Tj ET Q
q 0 0 0 rg BT 120.03 540.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 131.08 540.15 Td (illiquid ) Tj ET Q
q 0 0 0 rg BT 164.31 540.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 175.94 540.15 Td (privately-held ) Tj ET Q
q 0 0 0 rg BT 237.72 540.15 Td (securities ) Tj ET Q
q 0 0 0 rg BT 280.26 540.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 295.40 540.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 323.94 540.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 355.98 540.15 Td (prices ) Tj ET Q
q 0 0 0 rg BT 383.94 540.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 395.58 540.15 Td (quotations ) Tj ET Q
q 0 0 0 rg BT 442.22 540.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 457.92 540.15 Td (not ) Tj ET Q
q 0 0 0 rg BT 474.23 540.15 Td (readily ) Tj ET Q
q 0 0 0 rg BT 506.27 540.15 Td (available, ) Tj ET Q
q 0 0 0 rg BT 549.67 540.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (determination ) Tj ET Q
q 0 0 0 rg BT 111.35 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 123.63 527.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 141.74 527.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 168.02 527.55 Td (requires ) Tj ET Q
q 0 0 0 rg BT 205.37 527.55 Td (us ) Tj ET Q
q 0 0 0 rg BT 218.24 527.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 229.95 527.55 Td (estimate ) Tj ET Q
q 0 0 0 rg BT 268.47 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 284.84 527.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 311.11 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 323.39 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 339.76 527.55 Td (securities ) Tj ET Q
q 0 0 0 rg BT 382.95 527.55 Td (using ) Tj ET Q
q 0 0 0 rg BT 409.24 527.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 417.44 527.55 Td (variety ) Tj ET Q
q 0 0 0 rg BT 450.12 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 462.41 527.55 Td (methods ) Tj ET Q
q 0 0 0 rg BT 501.52 527.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 520.22 527.55 Td (resources, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (including ) Tj ET Q
q 0 0 0 rg BT 92.02 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 107.70 514.95 Td (most ) Tj ET Q
q 0 0 0 rg BT 130.97 514.95 Td (current ) Tj ET Q
q 0 0 0 rg BT 163.55 514.95 Td (available ) Tj ET Q
q 0 0 0 rg BT 204.30 514.95 Td (financial ) Tj ET Q
q 0 0 0 rg BT 243.88 514.95 Td (information ) Tj ET Q
q 0 0 0 rg BT 296.31 514.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 311.40 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 327.08 514.95 Td (investment ) Tj ET Q
q 0 0 0 rg BT 376.01 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 394.03 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 409.71 514.95 Td (industry) Tj ET Q
q 0 0 0 rg BT 443.44 514.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 448.92 514.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 451.14 514.95 Td (As ) Tj ET Q
q 0 0 0 rg BT 465.66 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 477.26 514.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 507.52 514.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 523.50 514.95 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 547.35 514.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 74.99 502.35 Td (we ) Tj ET Q
q 0 0 0 rg BT 89.10 502.35 Td (owned ) Tj ET Q
q 0 0 0 rg BT 118.97 502.35 Td ($60.0 ) Tj ET Q
q 0 0 0 rg BT 144.46 502.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 176.66 502.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 193.69 502.35 Td ($67.6 ) Tj ET Q
q 0 0 0 rg BT 219.18 502.35 Td (million, ) Tj ET Q
q 0 0 0 rg BT 254.01 502.35 Td (respectively) Tj ET Q
q 0 0 0 rg BT 304.06 502.35 Td (, ) Tj ET Q
q 0 0 0 rg BT 308.55 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 319.17 502.35 Td (investments ) Tj ET Q
q 0 0 0 rg BT 371.20 502.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 381.23 502.35 Td (partnerships ) Tj ET Q
q 0 0 0 rg BT 434.42 502.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 451.45 502.35 Td (limited ) Tj ET Q
q 0 0 0 rg BT 483.07 502.35 Td (liability ) Tj ET Q
q 0 0 0 rg BT 517.60 502.35 Td (companies ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 78.20 489.75 Td (were ) Tj ET Q
q 0 0 0 rg BT 101.65 489.75 Td (accounted ) Tj ET Q
q 0 0 0 rg BT 147.25 489.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 162.54 489.75 Td (under ) Tj ET Q
q 0 0 0 rg BT 189.49 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 205.36 489.75 Td (equity ) Tj ET Q
q 0 0 0 rg BT 234.65 489.75 Td (method ) Tj ET Q
q 0 0 0 rg BT 269.19 489.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 287.39 489.75 Td (included ) Tj ET Q
q 0 0 0 rg BT 326.59 489.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 337.80 489.75 Td (Other ) Tj ET Q
q 0 0 0 rg BT 364.75 489.75 Td (noncurrent ) Tj ET Q
q 0 0 0 rg BT 413.27 489.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 440.82 489.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 454.36 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 470.23 489.75 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 528.69 489.75 Td (Balance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (Sheets. ) Tj ET Q
q 0 0 0 rg BT 81.35 477.15 Td (Of ) Tj ET Q
q 0 0 0 rg BT 94.24 477.15 Td (these ) Tj ET Q
q 0 0 0 rg BT 117.63 477.15 Td (amounts, ) Tj ET Q
q 0 0 0 rg BT 157.64 477.15 Td ($33.7 ) Tj ET Q
q 0 0 0 rg BT 183.08 477.15 Td (million ) Tj ET Q
q 0 0 0 rg BT 215.22 477.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 232.20 477.15 Td ($29.3 ) Tj ET Q
q 0 0 0 rg BT 257.63 477.15 Td (million, ) Tj ET Q
q 0 0 0 rg BT 292.40 477.15 Td (respectively) Tj ET Q
q 0 0 0 rg BT 342.45 477.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 346.88 477.15 Td (were ) Tj ET Q
q 0 0 0 rg BT 369.10 477.15 Td (valued ) Tj ET Q
q 0 0 0 rg BT 398.89 477.15 Td (based ) Tj ET Q
q 0 0 0 rg BT 424.61 477.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 436.92 477.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 452.73 477.15 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 506.46 477.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 523.43 477.15 Td (estimates ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 68.25 464.55 Td (unobservable ) Tj ET Q
q 0 0 0 rg BT 127.82 464.55 Td (inputs. ) Tj ET Q
q 0 0 0 rg BT 159.71 464.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 163.04 464.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 182.96 464.55 Td (remainder ) Tj ET Q
q 0 0 0 rg BT 229.11 464.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 249.03 464.55 Td (valued ) Tj ET Q
q 0 0 0 rg BT 280.61 464.55 Td (using ) Tj ET Q
q 0 0 0 rg BT 306.95 464.55 Td (net ) Tj ET Q
q 0 0 0 rg BT 323.37 464.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 347.37 464.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 373.70 464.55 Td (\("NA) Tj ET Q
q 0 0 0 rg BT 395.30 464.55 Td (V"\) ) Tj ET Q
q 0 0 0 rg BT 414.25 464.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 426.59 464.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 434.84 464.55 Td (practical ) Tj ET Q
q 0 0 0 rg BT 474.57 464.55 Td (expedient, ) Tj ET Q
q 0 0 0 rg BT 521.60 464.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 533.94 464.55 Td (further ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 91.19 451.95 Td (below) Tj ET Q
q 0 0 0 rg BT 116.16 451.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 120.23 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 121.35 451.95 Td (As ) Tj ET Q
q 0 0 0 rg BT 134.45 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 144.64 451.95 Td (March�31, ) Tj ET Q
q 0 0 0 rg BT 189.23 451.95 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 211.66 451.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 228.26 451.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 253.32 451.95 Td (we ) Tj ET Q
q 0 0 0 rg BT 267.00 451.95 Td (also ) Tj ET Q
q 0 0 0 rg BT 285.36 451.95 Td (owned ) Tj ET Q
q 0 0 0 rg BT 314.79 451.95 Td ($9.5 ) Tj ET Q
q 0 0 0 rg BT 334.60 451.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 366.37 451.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 382.97 451.95 Td ($14.7 ) Tj ET Q
q 0 0 0 rg BT 408.03 451.95 Td (million ) Tj ET Q
q 0 0 0 rg BT 439.81 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 449.99 451.95 Td (investments ) Tj ET Q
q 0 0 0 rg BT 501.59 451.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 511.20 451.95 Td (partnerships ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 66.97 439.35 Td (limited ) Tj ET Q
q 0 0 0 rg BT 99.03 439.35 Td (liability ) Tj ET Q
q 0 0 0 rg BT 134.00 439.35 Td (companies ) Tj ET Q
q 0 0 0 rg BT 181.21 439.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 199.27 439.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 221.98 439.35 Td (accounted ) Tj ET Q
q 0 0 0 rg BT 266.84 439.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 281.40 439.35 Td (under ) Tj ET Q
q 0 0 0 rg BT 307.61 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 322.75 439.35 Td (cost ) Tj ET Q
q 0 0 0 rg BT 341.97 439.35 Td (method, ) Tj ET Q
q 0 0 0 rg BT 378.40 439.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 406.37 439.35 Td (considers ) Tj ET Q
q 0 0 0 rg BT 448.34 439.35 Td (if ) Tj ET Q
q 0 0 0 rg BT 457.06 439.35 Td (factors ) Tj ET Q
q 0 0 0 rg BT 487.94 439.35 Td (indicate ) Tj ET Q
q 0 0 0 rg BT 523.48 439.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 541.53 439.35 Td (there ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (may ) Tj ET Q
q 0 0 0 rg BT 70.19 426.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 82.72 426.75 Td (an ) Tj ET Q
q 0 0 0 rg BT 95.24 426.75 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 146.26 426.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 157.05 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 172.49 426.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 197.84 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 209.20 426.75 Td (these ) Tj ET Q
q 0 0 0 rg BT 233.39 426.75 Td (investments. ) Tj ET Q
q 0 0 0 rg BT 288.80 426.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 291.41 426.75 Td (In ) Tj ET Q
q 0 0 0 rg BT 302.77 426.75 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 342.43 426.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 353.79 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 365.15 426.75 Td (March�31, ) Tj ET Q
q 0 0 0 rg BT 410.92 426.75 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 434.53 426.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 452.31 426.75 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 478.55 426.75 Td (we ) Tj ET Q
q 0 0 0 rg BT 493.41 426.75 Td (had ) Tj ET Q
q 0 0 0 rg BT 511.18 426.75 Td ($9.2 ) Tj ET Q
q 0 0 0 rg BT 532.17 426.75 Td (million ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 66.79 414.15 Td ($10.1 ) Tj ET Q
q 0 0 0 rg BT 92.54 414.15 Td (million, ) Tj ET Q
q 0 0 0 rg BT 127.62 414.15 Td (respectively) Tj ET Q
q 0 0 0 rg BT 177.67 414.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 182.42 414.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 193.29 414.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 221.66 414.15 Td (method ) Tj ET Q
q 0 0 0 rg BT 255.28 414.15 Td (investments ) Tj ET Q
q 0 0 0 rg BT 307.57 414.15 Td (that ) Tj ET Q
q 0 0 0 rg BT 325.44 414.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 340.38 414.15 Td (included ) Tj ET Q
q 0 0 0 rg BT 378.67 414.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 388.96 414.15 Td (Investment ) Tj ET Q
q 0 0 0 rg BT 437.74 414.15 Td (securities ) Tj ET Q
q 0 0 0 rg BT 479.52 414.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 492.14 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 507.10 414.15 Td (Consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 85.94 401.55 Td (Sheets.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.95 376.35 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 118.14 376.35 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 159.17 376.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 174.54 376.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 192.24 376.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 218.10 376.35 Td (measurements ) Tj ET Q
q 0 0 0 rg BT 281.29 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 299.58 376.35 Td (disclosures ) Tj ET Q
q 0 0 0 rg BT 349.37 376.35 Td (defines ) Tj ET Q
q 0 0 0 rg BT 382.81 376.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 400.51 376.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 426.38 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 444.66 376.35 Td (establishes ) Tj ET Q
q 0 0 0 rg BT 493.28 376.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 501.07 376.35 Td (framework ) Tj ET Q
q 0 0 0 rg BT 550.26 376.35 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (measuring ) Tj ET Q
q 0 0 0 rg BT 95.71 363.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 112.75 363.75 Td (value. ) Tj ET Q
q 0 0 0 rg BT 140.58 363.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 142.87 363.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 161.66 363.75 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 210.19 363.75 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 250.56 363.75 Td (defines ) Tj ET Q
q 0 0 0 rg BT 283.35 363.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 300.39 363.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 325.59 363.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 336.81 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 352.10 363.75 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 394.21 363.75 Td (price ) Tj ET Q
q 0 0 0 rg BT 417.66 363.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 435.88 363.75 Td (would ) Tj ET Q
q 0 0 0 rg BT 464.59 363.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 476.97 363.75 Td (received ) Tj ET Q
q 0 0 0 rg BT 515.00 363.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 529.71 363.75 Td (an ) Tj ET Q
q 0 0 0 rg BT 542.08 363.75 Td (asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 60.79 351.15 Td (paid ) Tj ET Q
q 0 0 0 rg BT 81.42 351.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 92.13 351.15 Td (transfer ) Tj ET Q
q 0 0 0 rg BT 126.74 351.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 133.95 351.15 Td (liability ) Tj ET Q
q 0 0 0 rg BT 169.16 351.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 179.88 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 195.25 351.15 Td (principal ) Tj ET Q
q 0 0 0 rg BT 235.12 351.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 246.41 351.15 Td (most ) Tj ET Q
q 0 0 0 rg BT 269.38 351.15 Td (advantageous ) Tj ET Q
q 0 0 0 rg BT 329.08 351.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 360.78 351.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 375.57 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 390.94 351.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 413.90 351.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 425.19 351.15 Td (liability ) Tj ET Q
q 0 0 0 rg BT 460.41 351.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 471.12 351.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 483.58 351.15 Td (orderly ) Tj ET Q
q 0 0 0 rg BT 516.45 351.15 Td (transaction ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (between ) Tj ET Q
q 0 0 0 rg BT 87.05 338.55 Td (market ) Tj ET Q
q 0 0 0 rg BT 118.77 338.55 Td (participants ) Tj ET Q
q 0 0 0 rg BT 170.32 338.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 183.38 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 198.78 338.55 Td (measurement ) Tj ET Q
q 0 0 0 rg BT 257.32 338.55 Td (date. ) Tj ET Q
q 0 0 0 rg BT 280.00 338.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 282.00 338.55 Td (A) Tj ET Q
q 0 0 0 rg BT 289.00 338.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 291.57 338.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 308.71 338.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 334.01 338.55 Td (measurement ) Tj ET Q
q 0 0 0 rg BT 392.56 338.55 Td (should ) Tj ET Q
q 0 0 0 rg BT 423.13 338.55 Td (reflect ) Tj ET Q
q 0 0 0 rg BT 452.50 338.55 Td (all ) Tj ET Q
q 0 0 0 rg BT 465.56 338.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 476.88 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 492.27 338.55 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 546.76 338.55 Td (that ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (market ) Tj ET Q
q 0 0 0 rg BT 81.38 325.95 Td (participants ) Tj ET Q
q 0 0 0 rg BT 133.10 325.95 Td (would ) Tj ET Q
q 0 0 0 rg BT 162.08 325.95 Td (use ) Tj ET Q
q 0 0 0 rg BT 178.81 325.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 189.71 325.95 Td (pricing ) Tj ET Q
q 0 0 0 rg BT 222.18 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 237.74 325.95 Td (asset ) Tj ET Q
q 0 0 0 rg BT 260.89 325.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 272.36 325.95 Td (liability) Tj ET Q
q 0 0 0 rg BT 304.35 325.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 309.70 325.95 Td (including ) Tj ET Q
q 0 0 0 rg BT 352.10 325.95 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 406.75 325.95 Td (about ) Tj ET Q
q 0 0 0 rg BT 432.81 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 448.37 325.95 Td (risk ) Tj ET Q
q 0 0 0 rg BT 466.85 325.95 Td (inherent ) Tj ET Q
q 0 0 0 rg BT 503.99 325.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 514.89 325.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 522.28 325.95 Td (particular ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 91.20 313.35 Td (technique, ) Tj ET Q
q 0 0 0 rg BT 137.27 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 152.72 313.35 Td (ef) Tj ET Q
q 0 0 0 rg BT 160.69 313.35 Td (fect ) Tj ET Q
q 0 0 0 rg BT 179.05 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 190.42 313.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 197.70 313.35 Td (restriction ) Tj ET Q
q 0 0 0 rg BT 242.90 313.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 256.02 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 271.48 313.35 Td (sale ) Tj ET Q
q 0 0 0 rg BT 290.43 313.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 301.80 313.35 Td (use ) Tj ET Q
q 0 0 0 rg BT 318.42 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 329.79 313.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 342.33 313.35 Td (asset, ) Tj ET Q
q 0 0 0 rg BT 367.99 313.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 385.78 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 401.23 313.35 Td (risk ) Tj ET Q
q 0 0 0 rg BT 419.60 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 430.98 313.35 Td (non-performance.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 70.17 288.15 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 120.58 288.15 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 162.82 288.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 179.41 288.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 198.33 288.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 225.41 288.15 Td (measurements ) Tj ET Q
q 0 0 0 rg BT 289.82 288.15 Td (establishes ) Tj ET Q
q 0 0 0 rg BT 339.66 288.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 348.66 288.15 Td (hierarchy ) Tj ET Q
q 0 0 0 rg BT 392.65 288.15 Td (that ) Tj ET Q
q 0 0 0 rg BT 412.74 288.15 Td (prioritizes ) Tj ET Q
q 0 0 0 rg BT 459.65 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 476.83 288.15 Td (inputs ) Tj ET Q
q 0 0 0 rg BT 506.84 288.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 523.43 288.15 Td (valuation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.55 Td (techniques ) Tj ET Q
q 0 0 0 rg BT 96.78 275.55 Td (used ) Tj ET Q
q 0 0 0 rg BT 118.41 275.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 128.95 275.55 Td (measure ) Tj ET Q
q 0 0 0 rg BT 166.31 275.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 183.26 275.55 Td (value. ) Tj ET Q
q 0 0 0 rg BT 211.00 275.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 213.21 275.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 231.91 275.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 248.86 275.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 273.97 275.55 Td (hierarchy ) Tj ET Q
q 0 0 0 rg BT 315.99 275.55 Td (gives ) Tj ET Q
q 0 0 0 rg BT 340.54 275.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 355.74 275.55 Td (highest ) Tj ET Q
q 0 0 0 rg BT 388.45 275.55 Td (priority ) Tj ET Q
q 0 0 0 rg BT 422.32 275.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 432.87 275.55 Td (quoted ) Tj ET Q
q 0 0 0 rg BT 463.82 275.55 Td (prices ) Tj ET Q
q 0 0 0 rg BT 491.27 275.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 501.82 275.55 Td (active ) Tj ET Q
q 0 0 0 rg BT 529.26 275.55 Td (markets ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 262.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 64.37 262.95 Td (identical ) Tj ET Q
q 0 0 0 rg BT 103.15 262.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 130.27 262.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 141.64 262.95 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 183.34 262.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 201.13 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 216.58 262.95 Td (lowest ) Tj ET Q
q 0 0 0 rg BT 246.62 262.95 Td (priority ) Tj ET Q
q 0 0 0 rg BT 280.74 262.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 291.54 262.95 Td (unobservable ) Tj ET Q
q 0 0 0 rg BT 350.14 262.95 Td (inputs.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 237.75 Td (Our ) Tj ET Q
q 0 0 0 rg BT 67.93 237.75 Td (financial ) Tj ET Q
q 0 0 0 rg BT 106.76 237.75 Td (instruments ) Tj ET Q
q 0 0 0 rg BT 157.85 237.75 Td (measured ) Tj ET Q
q 0 0 0 rg BT 200.19 237.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 217.44 237.75 Td (reported ) Tj ET Q
q 0 0 0 rg BT 254.52 237.75 Td (at ) Tj ET Q
q 0 0 0 rg BT 264.20 237.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 280.87 237.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 305.71 237.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 320.62 237.75 Td (classified ) Tj ET Q
q 0 0 0 rg BT 362.38 237.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 379.63 237.75 Td (disclosed ) Tj ET Q
q 0 0 0 rg BT 420.81 237.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 431.08 237.75 Td (one ) Tj ET Q
q 0 0 0 rg BT 448.34 237.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 459.18 237.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 474.11 237.75 Td (following ) Tj ET Q
q 0 0 0 rg BT 517.04 237.75 Td (categories:) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 212.55 Td (Level�1�� ) Tj ET Q
q 0 0 0 rg BT 132.87 212.55 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 174.41 212.55 Td (instruments ) Tj ET Q
q 0 0 0 rg BT 225.88 212.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 240.59 212.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 268.71 212.55 Td (prices ) Tj ET Q
q 0 0 0 rg BT 296.25 212.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 311.54 212.55 Td (quoted ) Tj ET Q
q 0 0 0 rg BT 342.58 212.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 353.21 212.55 Td (active ) Tj ET Q
q 0 0 0 rg BT 380.75 212.55 Td (markets, ) Tj ET Q
q 0 0 0 rg BT 419.08 212.55 Td (which, ) Tj ET Q
q 0 0 0 rg BT 449.83 212.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 464.54 212.55 Td (us, ) Tj ET Q
q 0 0 0 rg BT 478.97 212.55 Td (include ) Tj ET Q
q 0 0 0 rg BT 512.34 212.55 Td (investments ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 199.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 96.29 199.95 Td (publicly ) Tj ET Q
q 0 0 0 rg BT 133.33 199.95 Td (traded ) Tj ET Q
q 0 0 0 rg BT 162.19 199.95 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 193.98 199.95 Td (funds ) Tj ET Q
q 0 0 0 rg BT 219.94 199.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 241.23 199.95 Td (quoted ) Tj ET Q
q 0 0 0 rg BT 272.43 199.95 Td (market ) Tj ET Q
q 0 0 0 rg BT 304.21 199.95 Td (prices ) Tj ET Q
q 0 0 0 rg BT 331.91 199.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 349.69 199.95 Td (equities ) Tj ET Q
q 0 0 0 rg BT 384.98 199.95 Td (listed ) Tj ET Q
q 0 0 0 rg BT 410.35 199.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 421.15 199.95 Td (active ) Tj ET Q
q 0 0 0 rg BT 448.84 199.95 Td (markets.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 174.75 Td (Level�2�� ) Tj ET Q
q 0 0 0 rg BT 133.74 174.75 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 176.16 174.75 Td (instruments ) Tj ET Q
q 0 0 0 rg BT 228.50 174.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 244.09 174.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 273.09 174.75 Td (prices ) Tj ET Q
q 0 0 0 rg BT 301.50 174.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 317.66 174.75 Td (quoted ) Tj ET Q
q 0 0 0 rg BT 349.58 174.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 365.16 174.75 Td (similar ) Tj ET Q
q 0 0 0 rg BT 397.67 174.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 425.51 174.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 444.01 174.75 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 486.43 174.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 497.94 174.75 Td (active ) Tj ET Q
q 0 0 0 rg BT 526.35 174.75 Td (markets; ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 162.15 Td (prices ) Tj ET Q
q 0 0 0 rg BT 113.11 162.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 128.48 162.15 Td (quoted ) Tj ET Q
q 0 0 0 rg BT 159.60 162.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 174.38 162.15 Td (identical ) Tj ET Q
q 0 0 0 rg BT 213.08 162.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 224.37 162.15 Td (similar ) Tj ET Q
q 0 0 0 rg BT 256.07 162.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 283.11 162.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 293.83 162.15 Td (inactive ) Tj ET Q
q 0 0 0 rg BT 329.60 162.15 Td (markets; ) Tj ET Q
q 0 0 0 rg BT 368.30 162.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 379.59 162.15 Td (prices ) Tj ET Q
q 0 0 0 rg BT 407.21 162.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 422.57 162.15 Td (based ) Tj ET Q
q 0 0 0 rg BT 449.02 162.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 462.06 162.15 Td (observable ) Tj ET Q
q 0 0 0 rg BT 510.09 162.15 Td (inputs, ) Tj ET Q
q 0 0 0 rg BT 540.93 162.15 Td (other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 149.55 Td (than ) Tj ET Q
q 0 0 0 rg BT 105.31 149.55 Td (quoted ) Tj ET Q
q 0 0 0 rg BT 135.62 149.55 Td (prices, ) Tj ET Q
q 0 0 0 rg BT 165.04 149.55 Td (such ) Tj ET Q
q 0 0 0 rg BT 186.02 149.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 196.50 149.55 Td (models ) Tj ET Q
q 0 0 0 rg BT 228.56 149.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 239.04 149.55 Td (other ) Tj ET Q
q 0 0 0 rg BT 262.34 149.55 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 303.15 149.55 Td (methodologies. ) Tj ET Q
q 0 0 0 rg BT 369.33 149.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 371.06 149.55 Td (For ) Tj ET Q
q 0 0 0 rg BT 387.38 149.55 Td (us, ) Tj ET Q
q 0 0 0 rg BT 401.07 149.55 Td (this ) Tj ET Q
q 0 0 0 rg BT 417.97 149.55 Td (category ) Tj ET Q
q 0 0 0 rg BT 455.85 149.55 Td (may ) Tj ET Q
q 0 0 0 rg BT 475.66 149.55 Td (include ) Tj ET Q
q 0 0 0 rg BT 508.29 149.55 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 531.60 149.55 Td (income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 136.95 Td (securities, ) Tj ET Q
q 0 0 0 rg BT 130.40 136.95 Td (certain ) Tj ET Q
q 0 0 0 rg BT 161.59 136.95 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 210.86 136.95 Td (fund ) Tj ET Q
q 0 0 0 rg BT 232.73 136.95 Td (products, ) Tj ET Q
q 0 0 0 rg BT 274.15 136.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 291.93 136.95 Td (certain ) Tj ET Q
q 0 0 0 rg BT 323.12 136.95 Td (long-term ) Tj ET Q
q 0 0 0 rg BT 367.15 136.95 Td (debt. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 111.75 Td (Level�3�� ) Tj ET Q
q 0 0 0 rg BT 133.84 111.75 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 176.34 111.75 Td (instruments ) Tj ET Q
q 0 0 0 rg BT 228.77 111.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 244.45 111.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 273.54 111.75 Td (values ) Tj ET Q
q 0 0 0 rg BT 303.80 111.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 320.05 111.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 347.39 111.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 361.33 111.75 Td (unobservable ) Tj ET Q
q 0 0 0 rg BT 420.74 111.75 Td (inputs, ) Tj ET Q
q 0 0 0 rg BT 452.47 111.75 Td (including ) Tj ET Q
q 0 0 0 rg BT 495.57 111.75 Td (those ) Tj ET Q
q 0 0 0 rg BT 521.16 111.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 536.84 111.75 Td (which ) Tj ET Q
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q 0 0 0 rg BT 481.01 527.55 Td (have ) Tj ET Q
q 0 0 0 rg BT 503.10 527.55 Td (been ) Tj ET Q
q 0 0 0 rg BT 525.19 527.55 Td (provided ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 62.51 514.95 Td (investees ) Tj ET Q
q 0 0 0 rg BT 103.52 514.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 118.85 514.95 Td (derived ) Tj ET Q
q 0 0 0 rg BT 152.85 514.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 175.77 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 191.11 514.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 208.20 514.95 Td (values ) Tj ET Q
q 0 0 0 rg BT 237.54 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 248.80 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 264.14 514.95 Td (underlying ) Tj ET Q
q 0 0 0 rg BT 312.15 514.95 Td (investments ) Tj ET Q
q 0 0 0 rg BT 364.82 514.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 376.08 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 387.34 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 402.69 514.95 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 443.69 514.95 Td (date. ) Tj ET Q
q 0 0 0 rg BT 466.32 514.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 468.83 514.95 Td (Investments ) Tj ET Q
q 0 0 0 rg BT 522.09 514.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 536.84 514.95 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.00 502.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 80.24 502.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 104.65 502.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 113.32 502.35 Td (measured ) Tj ET Q
q 0 0 0 rg BT 155.22 502.35 Td (using ) Tj ET Q
q 0 0 0 rg BT 179.65 502.35 Td (NA) Tj ET Q
q 0 0 0 rg BT 193.46 502.35 Td (V) Tj ET Q
q 0 0 0 rg BT 200.85 502.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 202.52 502.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 212.94 502.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 219.27 502.35 Td (practical ) Tj ET Q
q 0 0 0 rg BT 257.08 502.35 Td (expedient ) Tj ET Q
q 0 0 0 rg BT 299.57 502.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 314.06 502.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 329.14 502.35 Td (required ) Tj ET Q
q 0 0 0 rg BT 365.80 502.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 375.63 502.35 Td (be ) Tj ET Q
q 0 0 0 rg BT 387.21 502.35 Td (categorized ) Tj ET Q
q 0 0 0 rg BT 437.27 502.35 Td (within ) Tj ET Q
q 0 0 0 rg BT 465.77 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 480.27 502.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 496.51 502.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 520.92 502.35 Td (hierarchy) Tj ET Q
q 0 0 0 rg BT 559.88 502.35 Td (. ) Tj ET Q
q 0 0 0 rg BT 565.13 502.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.62 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 74.81 477.15 Td (March�31, ) Tj ET Q
q 0 0 0 rg BT 120.42 477.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 146.49 477.15 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 209.59 477.15 Td (1% ) Tj ET Q
q 0 0 0 rg BT 226.04 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 237.23 477.15 Td (total ) Tj ET Q
q 0 0 0 rg BT 258.34 477.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 285.29 477.15 Td (\(4% ) Tj ET Q
q 0 0 0 rg BT 305.23 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 316.43 477.15 Td (financial ) Tj ET Q
q 0 0 0 rg BT 355.61 477.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 382.56 477.15 Td (measured ) Tj ET Q
q 0 0 0 rg BT 425.24 477.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 435.27 477.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 452.29 477.15 Td (value\) ) Tj ET Q
q 0 0 0 rg BT 480.97 477.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 498.58 477.15 Td (less ) Tj ET Q
q 0 0 0 rg BT 516.78 477.15 Td (than ) Tj ET Q
q 0 0 0 rg BT 537.31 477.15 Td (1% ) Tj ET Q
q 0 0 0 rg BT 553.75 477.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (total ) Tj ET Q
q 0 0 0 rg BT 70.79 464.55 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 112.49 464.55 Td (\(45% ) Tj ET Q
q 0 0 0 rg BT 137.86 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 149.23 464.55 Td (financial ) Tj ET Q
q 0 0 0 rg BT 188.59 464.55 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 230.29 464.55 Td (measured ) Tj ET Q
q 0 0 0 rg BT 273.15 464.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 283.35 464.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 300.55 464.55 Td (value\) ) Tj ET Q
q 0 0 0 rg BT 329.41 464.55 Td (meet ) Tj ET Q
q 0 0 0 rg BT 352.44 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 367.90 464.55 Td (definition ) Tj ET Q
q 0 0 0 rg BT 411.35 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 422.72 464.55 Td (Level�3. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (Any ) Tj ET Q
q 0 0 0 rg BT 70.21 439.35 Td (transfers ) Tj ET Q
q 0 0 0 rg BT 108.98 439.35 Td (between ) Tj ET Q
q 0 0 0 rg BT 146.59 439.35 Td (categories ) Tj ET Q
q 0 0 0 rg BT 191.78 439.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 207.22 439.35 Td (measured ) Tj ET Q
q 0 0 0 rg BT 250.08 439.35 Td (at ) Tj ET Q
q 0 0 0 rg BT 260.28 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 275.73 439.35 Td (beginning ) Tj ET Q
q 0 0 0 rg BT 320.35 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 331.73 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 347.18 439.35 Td (period.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (See ) Tj ET Q
q 0 0 0 rg BT 67.29 414.15 Td (Note ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 90.32 414.15 Td (3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 95.57 414.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 98.20 414.15 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 115.98 414.15 Td (17) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 126.48 414.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 129.11 414.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 140.48 414.15 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 167.60 414.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 178.39 414.15 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 236.43 414.15 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 278.13 414.15 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 326.84 414.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 341.70 414.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 386.32 414.15 Td (information.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (Intangible ) Tj ET Q
q 0 0 0 rg BT 97.64 388.95 Td (Assets ) Tj ET Q
q 0 0 0 rg BT 128.27 388.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 147.82 388.95 Td (Goodwill) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (Balances ) Tj ET Q
q 0 0 0 rg BT 90.02 376.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 101.40 376.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 112.77 376.35 Td (March�31, ) Tj ET Q
q 0 0 0 rg BT 158.55 376.35 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 184.80 376.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 200.24 376.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 211.61 376.35 Td (follows ) Tj ET Q
q 0 0 0 rg BT 245.74 376.35 Td (\(in ) Tj ET Q
q 0 0 0 rg BT 260.03 376.35 Td (thousands\):) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 365.85 411.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.00 365.85 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
465.00 365.85 97.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 337.85 411.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.00 337.85 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
465.00 337.85 97.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 309.85 411.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.00 309.85 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
465.00 309.85 97.00 -14.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 309.85 m
461 309.85 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
465 309.85 m
562 309.85 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 296.85 m
461 296.85 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 294.85 m
461 294.85 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
465 296.85 m
562 296.85 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
465 294.85 m
562 294.85 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 356.07 Td (Amortizable intangible asset management contracts and other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 467.50 356.07 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.85 356.07 Td (158,920) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 342.07 Td (Indefinite-life intangible assets) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 516.00 342.07 Td (3,570,260) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 328.07 Td (T) Tj ET Q
q 0 0 0 rg BT 58.73 328.07 Td (rade names) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 328.07 Td (68,479) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 314.07 Td (Goodwill) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 516.00 314.07 Td (1,932,355) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 300.07 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 467.50 300.07 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 516.00 300.07 Td (5,730,014) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 271.15 Td (Our ) Tj ET Q
q 0 0 0 rg BT 68.42 271.15 Td (identifiable ) Tj ET Q
q 0 0 0 rg BT 118.83 271.15 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 163.41 271.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 190.50 271.15 Td (consist ) Tj ET Q
q 0 0 0 rg BT 222.25 271.15 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 263.92 271.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 275.26 271.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 298.26 271.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 354.49 271.15 Td (contracts, ) Tj ET Q
q 0 0 0 rg BT 397.61 271.15 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 438.10 271.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 448.86 271.15 Td (manage ) Tj ET Q
q 0 0 0 rg BT 484.10 271.15 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 533.33 271.15 Td (mutual ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 258.55 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 77.94 258.55 Td (hedge ) Tj ET Q
q 0 0 0 rg BT 105.50 258.55 Td (funds ) Tj ET Q
q 0 0 0 rg BT 131.31 258.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 142.54 258.55 Td (funds-of-hedge ) Tj ET Q
q 0 0 0 rg BT 209.17 258.55 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 237.61 258.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 255.25 258.55 Td (trade ) Tj ET Q
q 0 0 0 rg BT 278.72 258.55 Td (names ) Tj ET Q
q 0 0 0 rg BT 308.03 258.55 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 347.26 258.55 Td (from ) Tj ET Q
q 0 0 0 rg BT 370.15 258.55 Td (acquisitions. ) Tj ET Q
q 0 0 0 rg BT 425.42 258.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 427.36 258.55 Td (Asset ) Tj ET Q
q 0 0 0 rg BT 453.17 258.55 Td (management ) Tj ET Q
q 0 0 0 rg BT 509.30 258.55 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 549.69 258.55 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 245.95 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 100.79 245.95 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 144.50 245.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 170.73 245.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 188.20 245.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 202.74 245.95 Td (capitalized ) Tj ET Q
q 0 0 0 rg BT 249.94 245.95 Td (at ) Tj ET Q
q 0 0 0 rg BT 259.25 245.95 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 307.05 245.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 323.94 245.95 Td (amortized ) Tj ET Q
q 0 0 0 rg BT 367.65 245.95 Td (over ) Tj ET Q
q 0 0 0 rg BT 388.03 245.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 402.59 245.95 Td (expected ) Tj ET Q
q 0 0 0 rg BT 441.62 245.95 Td (life ) Tj ET Q
q 0 0 0 rg BT 457.34 245.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 467.81 245.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 482.37 245.95 Td (contract. ) Tj ET Q
q 0 0 0 rg BT 520.53 245.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 522.26 245.95 Td (Contracts ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 233.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.67 233.35 Td (manage ) Tj ET Q
q 0 0 0 rg BT 96.32 233.35 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 145.97 233.35 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 178.13 233.35 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 207.09 233.35 Td (hedge ) Tj ET Q
q 0 0 0 rg BT 235.17 233.35 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 264.13 233.35 Td (funds-of-hedge ) Tj ET Q
q 0 0 0 rg BT 331.27 233.35 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 360.23 233.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 371.98 233.35 Td (real ) Tj ET Q
q 0 0 0 rg BT 390.72 233.35 Td (estate ) Tj ET Q
q 0 0 0 rg BT 417.62 233.35 Td (funds ) Tj ET Q
q 0 0 0 rg BT 443.96 233.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 459.78 233.35 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 520.51 233.35 Td (intangible ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 220.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 76.21 220.75 Td (because ) Tj ET Q
q 0 0 0 rg BT 111.64 220.75 Td (we ) Tj ET Q
q 0 0 0 rg BT 126.10 220.75 Td (assume ) Tj ET Q
q 0 0 0 rg BT 159.22 220.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 177.17 220.75 Td (there ) Tj ET Q
q 0 0 0 rg BT 200.36 220.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 209.58 220.75 Td (no ) Tj ET Q
q 0 0 0 rg BT 222.29 220.75 Td (foreseeable ) Tj ET Q
q 0 0 0 rg BT 272.29 220.75 Td (limit ) Tj ET Q
q 0 0 0 rg BT 294.34 220.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 307.05 220.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 322.08 220.75 Td (contract ) Tj ET Q
q 0 0 0 rg BT 358.11 220.75 Td (period ) Tj ET Q
q 0 0 0 rg BT 387.14 220.75 Td (due ) Tj ET Q
q 0 0 0 rg BT 404.51 220.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 414.89 220.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 429.92 220.75 Td (likelihood ) Tj ET Q
q 0 0 0 rg BT 474.71 220.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 485.67 220.75 Td (continued ) Tj ET Q
q 0 0 0 rg BT 529.28 220.75 Td (renewal ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 208.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 58.70 208.15 Td (little ) Tj ET Q
q 0 0 0 rg BT 79.58 208.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 89.95 208.15 Td (no ) Tj ET Q
q 0 0 0 rg BT 102.07 208.15 Td (cost. ) Tj ET Q
q 0 0 0 rg BT 123.24 208.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 124.87 208.15 Td (Similarly) Tj ET Q
q 0 0 0 rg BT 163.27 208.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 167.52 208.15 Td (trade ) Tj ET Q
q 0 0 0 rg BT 190.13 208.15 Td (names ) Tj ET Q
q 0 0 0 rg BT 218.58 208.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 233.02 208.15 Td (considered ) Tj ET Q
q 0 0 0 rg BT 280.13 208.15 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 339.48 208.15 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 383.10 208.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 409.22 208.15 Td (because ) Tj ET Q
q 0 0 0 rg BT 444.08 208.15 Td (they ) Tj ET Q
q 0 0 0 rg BT 463.78 208.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 478.23 208.15 Td (expected ) Tj ET Q
q 0 0 0 rg BT 517.16 208.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 526.95 208.15 Td (generate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 195.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 70.78 195.55 Td (flows ) Tj ET Q
q 0 0 0 rg BT 96.74 195.55 Td (indefinitely) Tj ET Q
q 0 0 0 rg BT 144.46 195.55 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
/GS0 gs
q 2.63 0 0 10.55 49.50 180.68 cm
/I2 Do Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 170.35 Td (In ) Tj ET Q
q 0 0 0 rg BT 60.25 170.35 Td (allocating ) Tj ET Q
q 0 0 0 rg BT 103.66 170.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 118.49 170.35 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 157.81 170.35 Td (price ) Tj ET Q
q 0 0 0 rg BT 180.80 170.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 191.55 170.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 203.47 170.35 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 251.55 170.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 261.72 170.35 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 305.72 170.35 Td (assets, ) Tj ET Q
q 0 0 0 rg BT 334.85 170.35 Td (we ) Tj ET Q
q 0 0 0 rg BT 349.10 170.35 Td (must ) Tj ET Q
q 0 0 0 rg BT 371.52 170.35 Td (determine ) Tj ET Q
q 0 0 0 rg BT 415.51 170.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 430.34 170.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 446.92 170.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 471.66 170.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 482.41 170.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 497.25 170.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 523.75 170.35 Td (acquired. ) Tj ET Q
q 0 0 0 rg BT 565.14 170.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 157.75 Td (W) Tj ET Q
q 0 0 0 rg BT 58.57 157.75 Td (e ) Tj ET Q
q 0 0 0 rg BT 65.28 157.75 Td (determine ) Tj ET Q
q 0 0 0 rg BT 109.31 157.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 125.92 157.75 Td (values ) Tj ET Q
q 0 0 0 rg BT 154.80 157.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 165.59 157.75 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 209.63 157.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 236.17 157.75 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 274.36 157.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 300.32 157.75 Td (upon ) Tj ET Q
q 0 0 0 rg BT 323.37 157.75 Td (projected ) Tj ET Q
q 0 0 0 rg BT 364.48 157.75 Td (future ) Tj ET Q
q 0 0 0 rg BT 391.59 157.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 412.30 157.75 Td (flows, ) Tj ET Q
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q 0 0 0 rg BT 540.94 565.35 Td (other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 109.72 552.75 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 154.21 552.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 181.20 552.75 Td (were ) Tj ET Q
q 0 0 0 rg BT 204.10 552.75 Td (deemed ) Tj ET Q
q 0 0 0 rg BT 239.24 552.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 249.91 552.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 262.31 552.75 Td (impaired. ) Tj ET Q
q 0 0 0 rg BT 304.75 552.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 307.07 552.75 Td (W) Tj ET Q
q 0 0 0 rg BT 316.14 552.75 Td (e ) Tj ET Q
q 0 0 0 rg BT 323.30 552.75 Td (also ) Tj ET Q
q 0 0 0 rg BT 342.71 552.75 Td (determined ) Tj ET Q
q 0 0 0 rg BT 392.43 552.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 410.67 552.75 Td (no ) Tj ET Q
q 0 0 0 rg BT 423.67 552.75 Td (triggering ) Tj ET Q
q 0 0 0 rg BT 467.57 552.75 Td (events ) Tj ET Q
q 0 0 0 rg BT 496.89 552.75 Td (had ) Tj ET Q
q 0 0 0 rg BT 514.55 552.75 Td (occurred ) Tj ET Q
q 0 0 0 rg BT 553.77 552.75 Td (as ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.85 540.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 90.85 540.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 106.57 540.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 132.80 540.15 Td (therefore, ) Tj ET Q
q 0 0 0 rg BT 175.91 540.15 Td (no ) Tj ET Q
q 0 0 0 rg BT 189.01 540.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 233.60 540.15 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 293.93 540.15 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 338.52 540.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 361.53 540.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 379.29 540.15 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 419.23 540.15 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 470.23 540.15 Td (testing ) Tj ET Q
q 0 0 0 rg BT 500.83 540.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 519.76 540.15 Td (necessary) Tj ET Q
q 0 0 0 rg BT 559.89 540.15 Td (. ) Tj ET Q
q 0 0 0 rg BT 565.14 540.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (As ) Tj ET Q
q 0 0 0 rg BT 64.16 527.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 71.80 527.55 Td (result ) Tj ET Q
q 0 0 0 rg BT 98.12 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 109.85 527.55 Td (uncertainty ) Tj ET Q
q 0 0 0 rg BT 160.07 527.55 Td (regarding ) Tj ET Q
q 0 0 0 rg BT 203.29 527.55 Td (future ) Tj ET Q
q 0 0 0 rg BT 231.34 527.55 Td (market ) Tj ET Q
q 0 0 0 rg BT 263.48 527.55 Td (conditions, ) Tj ET Q
q 0 0 0 rg BT 312.84 527.55 Td (assessing ) Tj ET Q
q 0 0 0 rg BT 354.91 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 370.73 527.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 388.29 527.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 414.01 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 425.74 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 441.56 527.55 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 483.03 527.55 Td (unit ) Tj ET Q
q 0 0 0 rg BT 502.36 527.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 520.50 527.55 Td (intangible ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 76.58 514.95 Td (requires ) Tj ET Q
q 0 0 0 rg BT 112.97 514.95 Td (management ) Tj ET Q
q 0 0 0 rg BT 169.20 514.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 179.95 514.95 Td (exercise ) Tj ET Q
q 0 0 0 rg BT 216.92 514.95 Td (significant ) Tj ET Q
q 0 0 0 rg BT 263.82 514.95 Td (judgment. ) Tj ET Q
q 0 0 0 rg BT 308.69 514.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 311.27 514.95 Td (Details ) Tj ET Q
q 0 0 0 rg BT 343.59 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 354.92 514.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 371.49 514.95 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 416.06 514.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 443.14 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 460.88 514.95 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 500.79 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 518.53 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 533.94 514.95 Td (related ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 100.53 502.35 Td (tests ) Tj ET Q
q 0 0 0 rg BT 121.82 502.35 Td (follow) Tj ET Q
q 0 0 0 rg BT 148.56 502.35 Td (.) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (Amortizable Intangible ) Tj ET Q
q 0 0 0 rg BT 151.80 477.15 Td (Assets) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (Intangible ) Tj ET Q
q 0 0 0 rg BT 94.36 464.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 121.14 464.55 Td (subject ) Tj ET Q
q 0 0 0 rg BT 153.17 464.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 163.62 464.55 Td (amortization ) Tj ET Q
q 0 0 0 rg BT 218.97 464.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 234.07 464.55 Td (considered ) Tj ET Q
q 0 0 0 rg BT 281.84 464.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 296.37 464.55 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 347.06 464.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 356.92 464.55 Td (each ) Tj ET Q
q 0 0 0 rg BT 378.44 464.55 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 419.21 464.55 Td (period ) Tj ET Q
q 0 0 0 rg BT 448.32 464.55 Td (using ) Tj ET Q
q 0 0 0 rg BT 473.36 464.55 Td (an ) Tj ET Q
q 0 0 0 rg BT 485.56 464.55 Td (undiscounted ) Tj ET Q
q 0 0 0 rg BT 543.84 464.55 Td (cash ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (flow ) Tj ET Q
q 0 0 0 rg BT 70.62 451.95 Td (analysis. ) Tj ET Q
q 0 0 0 rg BT 108.94 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 110.82 451.95 Td (Significant ) Tj ET Q
q 0 0 0 rg BT 158.77 451.95 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 212.56 451.95 Td (used ) Tj ET Q
q 0 0 0 rg BT 233.68 451.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 243.72 451.95 Td (assessing ) Tj ET Q
q 0 0 0 rg BT 284.67 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 299.37 451.95 Td (recoverability ) Tj ET Q
q 0 0 0 rg BT 359.55 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 370.17 451.95 Td (management ) Tj ET Q
q 0 0 0 rg BT 425.68 451.95 Td (contract ) Tj ET Q
q 0 0 0 rg BT 461.37 451.95 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 505.23 451.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 531.60 451.95 Td (include ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (projected ) Tj ET Q
q 0 0 0 rg BT 90.78 439.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 111.66 439.35 Td (flows ) Tj ET Q
q 0 0 0 rg BT 137.21 439.35 Td (generated ) Tj ET Q
q 0 0 0 rg BT 180.24 439.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 192.96 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 208.00 439.35 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 248.12 439.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 265.50 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 280.55 439.35 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 325.34 439.35 Td (economic ) Tj ET Q
q 0 0 0 rg BT 368.37 439.35 Td (lives ) Tj ET Q
q 0 0 0 rg BT 390.42 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 401.39 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 416.43 439.35 Td (contracts. ) Tj ET Q
q 0 0 0 rg BT 459.18 439.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 461.40 439.35 Td (Projected ) Tj ET Q
q 0 0 0 rg BT 503.27 439.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 524.15 439.35 Td (flows ) Tj ET Q
q 0 0 0 rg BT 549.70 439.35 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 76.07 426.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 89.24 426.75 Td (fees ) Tj ET Q
q 0 0 0 rg BT 108.81 426.75 Td (generated ) Tj ET Q
q 0 0 0 rg BT 152.28 426.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 165.45 426.75 Td (current ) Tj ET Q
q 0 0 0 rg BT 197.26 426.75 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 224.43 426.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 239.34 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 254.83 426.75 Td (applicable ) Tj ET Q
q 0 0 0 rg BT 300.64 426.75 Td (contracts. ) Tj ET Q
q 0 0 0 rg BT 343.83 426.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 346.50 426.75 Td (Contracts ) Tj ET Q
q 0 0 0 rg BT 389.41 426.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 404.89 426.75 Td (generally ) Tj ET Q
q 0 0 0 rg BT 446.62 426.75 Td (assumed ) Tj ET Q
q 0 0 0 rg BT 485.45 426.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 496.28 426.75 Td (turnover ) Tj ET Q
q 0 0 0 rg BT 534.52 426.75 Td (evenly ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (throughout ) Tj ET Q
q 0 0 0 rg BT 99.13 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 115.50 414.15 Td (life ) Tj ET Q
q 0 0 0 rg BT 133.04 414.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 145.33 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 161.70 414.15 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 207.24 414.15 Td (asset. ) Tj ET Q
q 0 0 0 rg BT 233.82 414.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 237.11 414.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 256.98 414.15 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 303.10 414.15 Td (life ) Tj ET Q
q 0 0 0 rg BT 320.64 414.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 332.93 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 349.30 414.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 373.26 414.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 383.81 414.15 Td (based ) Tj ET Q
q 0 0 0 rg BT 411.26 414.15 Td (upon ) Tj ET Q
q 0 0 0 rg BT 435.81 414.15 Td (factors ) Tj ET Q
q 0 0 0 rg BT 467.92 414.15 Td (such ) Tj ET Q
q 0 0 0 rg BT 490.71 414.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 503.00 414.15 Td (average ) Tj ET Q
q 0 0 0 rg BT 539.19 414.15 Td (client ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (retention ) Tj ET Q
q 0 0 0 rg BT 89.02 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 106.39 401.55 Td (client ) Tj ET Q
q 0 0 0 rg BT 131.91 401.55 Td (turnover ) Tj ET Q
q 0 0 0 rg BT 169.69 401.55 Td (rates. ) Tj ET Q
q 0 0 0 rg BT 194.34 401.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 196.54 401.55 Td (If ) Tj ET Q
q 0 0 0 rg BT 205.74 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 220.77 401.55 Td (amortization ) Tj ET Q
q 0 0 0 rg BT 276.04 401.55 Td (periods ) Tj ET Q
q 0 0 0 rg BT 309.15 401.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 324.17 401.55 Td (no ) Tj ET Q
q 0 0 0 rg BT 336.88 401.55 Td (longer ) Tj ET Q
q 0 0 0 rg BT 365.90 401.55 Td (appropriate, ) Tj ET Q
q 0 0 0 rg BT 418.54 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 433.57 401.55 Td (expected ) Tj ET Q
q 0 0 0 rg BT 473.09 401.55 Td (lives ) Tj ET Q
q 0 0 0 rg BT 495.12 401.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 510.14 401.55 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 547.34 401.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.41 388.95 Td (impact ) Tj ET Q
q 0 0 0 rg BT 95.06 388.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 107.64 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 122.55 388.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 139.20 388.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 164.01 388.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 173.10 388.95 Td (assessed. ) Tj ET Q
q 0 0 0 rg BT 213.38 388.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 215.00 388.95 Td (Actual ) Tj ET Q
q 0 0 0 rg BT 245.07 388.95 Td (cash ) Tj ET Q
q 0 0 0 rg BT 265.80 388.95 Td (flows ) Tj ET Q
q 0 0 0 rg BT 291.22 388.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 301.46 388.95 Td (any ) Tj ET Q
q 0 0 0 rg BT 318.70 388.95 Td (one ) Tj ET Q
q 0 0 0 rg BT 335.94 388.95 Td (period ) Tj ET Q
q 0 0 0 rg BT 364.85 388.95 Td (may ) Tj ET Q
q 0 0 0 rg BT 385.00 388.95 Td (vary ) Tj ET Q
q 0 0 0 rg BT 405.74 388.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 428.23 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 443.14 388.95 Td (projected ) Tj ET Q
q 0 0 0 rg BT 484.28 388.95 Td (cash ) Tj ET Q
q 0 0 0 rg BT 505.02 388.95 Td (flows ) Tj ET Q
q 0 0 0 rg BT 530.43 388.95 Td (without ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 90.10 376.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 102.13 376.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 115.90 376.35 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 168.16 376.35 Td (char) Tj ET Q
q 0 0 0 rg BT 186.04 376.35 Td (ge ) Tj ET Q
q 0 0 0 rg BT 199.80 376.35 Td (because ) Tj ET Q
q 0 0 0 rg BT 236.89 376.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 245.41 376.35 Td (variance ) Tj ET Q
q 0 0 0 rg BT 284.82 376.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 296.84 376.35 Td (any ) Tj ET Q
q 0 0 0 rg BT 315.86 376.35 Td (one ) Tj ET Q
q 0 0 0 rg BT 334.88 376.35 Td (period ) Tj ET Q
q 0 0 0 rg BT 365.56 376.35 Td (must ) Tj ET Q
q 0 0 0 rg BT 389.84 376.35 Td (be ) Tj ET Q
q 0 0 0 rg BT 403.61 376.35 Td (considered ) Tj ET Q
q 0 0 0 rg BT 452.95 376.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 464.97 376.35 Td (conjunction ) Tj ET Q
q 0 0 0 rg BT 518.40 376.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 540.93 376.35 Td (other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 104.05 363.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 122.42 363.75 Td (impact ) Tj ET Q
q 0 0 0 rg BT 153.62 363.75 Td (projected ) Tj ET Q
q 0 0 0 rg BT 195.31 363.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 216.59 363.75 Td (flows.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (W) Tj ET Q
q 0 0 0 rg BT 58.99 338.55 Td (ith ) Tj ET Q
q 0 0 0 rg BT 72.73 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 88.21 338.55 Td (exception ) Tj ET Q
q 0 0 0 rg BT 131.67 338.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 143.07 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 158.55 338.55 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 189.20 338.55 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 248.99 338.55 Td (separate ) Tj ET Q
q 0 0 0 rg BT 286.04 338.55 Td (account ) Tj ET Q
q 0 0 0 rg BT 321.34 338.55 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 361.89 338.55 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 414.10 338.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 437.16 338.55 Td (further ) Tj ET Q
q 0 0 0 rg BT 468.38 338.55 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 511.28 338.55 Td (below) Tj ET Q
q 0 0 0 rg BT 536.26 338.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 541.53 338.55 Td (there ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (were ) Tj ET Q
q 0 0 0 rg BT 72.94 325.95 Td (no ) Tj ET Q
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q 0 0 0 rg BT 153.21 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 169.07 325.95 Td (values ) Tj ET Q
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q 0 0 0 rg BT 210.72 325.95 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 263.31 325.95 Td (intangible ) Tj ET Q
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q 0 0 0 rg BT 431.28 325.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 452.39 325.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 480.50 325.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 510.94 325.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 527.10 325.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 553.76 325.95 Td (as ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (our ) Tj ET Q
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q 0 0 0 rg BT 119.19 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 134.65 313.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 165.83 313.35 Td (future ) Tj ET Q
q 0 0 0 rg BT 193.53 313.35 Td (cash ) Tj ET Q
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q 0 0 0 rg BT 282.45 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 297.90 313.35 Td (asset ) Tj ET Q
q 0 0 0 rg BT 320.94 313.35 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 358.55 313.35 Td (values. ) Tj ET Q
q 0 0 0 rg BT 390.62 313.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.92 288.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 75.42 288.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 105.57 288.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 121.44 288.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 147.82 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 163.40 288.15 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 197.64 288.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 215.55 288.15 Td (EnT) Tj ET Q
q 0 0 0 rg BT 233.26 288.15 Td (rust ) Tj ET Q
q 0 0 0 rg BT 251.76 288.15 Td (separate ) Tj ET Q
q 0 0 0 rg BT 288.90 288.15 Td (account ) Tj ET Q
q 0 0 0 rg BT 324.30 288.15 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 364.95 288.15 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 417.26 288.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 444.51 288.15 Td (net ) Tj ET Q
q 0 0 0 rg BT 460.08 288.15 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 497.82 288.15 Td (values ) Tj ET Q
q 0 0 0 rg BT 527.39 288.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 538.89 288.15 Td ($82.2 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.55 Td (million ) Tj ET Q
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q 0 0 0 rg BT 264.29 275.55 Td (more ) Tj ET Q
q 0 0 0 rg BT 289.45 275.55 Td (than ) Tj ET Q
q 0 0 0 rg BT 311.12 275.55 Td (80% ) Tj ET Q
q 0 0 0 rg BT 333.96 275.55 Td (of ) Tj ET Q
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q 0 0 0 rg BT 386.14 275.55 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 439.29 275.55 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 484.87 275.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 508.87 275.55 Td (management ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 262.95 Td (contracts ) Tj ET Q
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q 0 0 0 rg BT 158.15 653.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 165.44 653.55 Td (discount ) Tj ET Q
q 0 0 0 rg BT 203.64 653.55 Td (rate ) Tj ET Q
q 0 0 0 rg BT 222.00 653.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 233.37 653.55 Td (16.5%. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 67.62 628.35 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 109.65 628.35 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 154.01 628.35 Td (useful ) Tj ET Q
q 0 0 0 rg BT 181.46 628.35 Td (lives ) Tj ET Q
q 0 0 0 rg BT 203.09 628.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 213.63 628.35 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 264.98 628.35 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 308.76 628.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 335.05 628.35 Td (currently ) Tj ET Q
q 0 0 0 rg BT 374.74 628.35 Td (range ) Tj ET Q
q 0 0 0 rg BT 399.85 628.35 Td (from ) Tj ET Q
q 0 0 0 rg BT 422.05 628.35 Td (one ) Tj ET Q
q 0 0 0 rg BT 439.01 628.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 448.97 628.35 Td (nine�years ) Tj ET Q
q 0 0 0 rg BT 493.61 628.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 514.07 628.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 520.53 628.35 Td (weighted-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.75 Td (average ) Tj ET Q
q 0 0 0 rg BT 84.76 615.75 Td (life ) Tj ET Q
q 0 0 0 rg BT 101.38 615.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 112.75 615.75 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 176.03 615.75 Td (6.9 ) Tj ET Q
q 0 0 0 rg BT 191.78 615.75 Td (years.) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (Indefinite-Life Intangible ) Tj ET Q
q 0 0 0 rg BT 162.86 590.55 Td (Assets) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (For ) Tj ET Q
q 0 0 0 rg BT 67.24 577.95 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 112.39 577.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 140.04 577.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 161.86 577.95 Td (lives ) Tj ET Q
q 0 0 0 rg BT 184.85 577.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 203.75 577.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 219.72 577.95 Td (indeterminable ) Tj ET Q
q 0 0 0 rg BT 285.85 577.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 297.75 577.95 Td (indefinite, ) Tj ET Q
q 0 0 0 rg BT 343.77 577.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 361.49 577.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 387.39 577.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 397.54 577.95 Td (determined ) Tj ET Q
q 0 0 0 rg BT 447.93 577.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 471.50 577.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 479.31 577.95 Td (market ) Tj ET Q
q 0 0 0 rg BT 511.62 577.95 Td (participant's ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (perspective ) Tj ET Q
q 0 0 0 rg BT 100.51 565.35 Td (based ) Tj ET Q
q 0 0 0 rg BT 127.61 565.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 141.31 565.35 Td (projected ) Tj ET Q
q 0 0 0 rg BT 183.57 565.35 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 232.26 565.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 254.12 565.35 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 283.27 565.35 Td (taking ) Tj ET Q
q 0 0 0 rg BT 312.72 565.35 Td (into ) Tj ET Q
q 0 0 0 rg BT 332.25 565.35 Td (account ) Tj ET Q
q 0 0 0 rg BT 368.10 565.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 384.12 565.35 Td (values ) Tj ET Q
q 0 0 0 rg BT 414.15 565.35 Td (market ) Tj ET Q
q 0 0 0 rg BT 446.50 565.35 Td (participants ) Tj ET Q
q 0 0 0 rg BT 498.68 565.35 Td (would ) Tj ET Q
q 0 0 0 rg BT 528.13 565.35 Td (pay ) Tj ET Q
q 0 0 0 rg BT 546.49 565.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 557.85 565.35 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (taxable ) Tj ET Q
q 0 0 0 rg BT 81.46 552.75 Td (transaction ) Tj ET Q
q 0 0 0 rg BT 129.17 552.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 138.98 552.75 Td (acquire ) Tj ET Q
q 0 0 0 rg BT 171.52 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 185.99 552.75 Td (respective ) Tj ET Q
q 0 0 0 rg BT 230.19 552.75 Td (assets. ) Tj ET Q
q 0 0 0 rg BT 258.96 552.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 260.49 552.75 Td (W) Tj ET Q
q 0 0 0 rg BT 269.56 552.75 Td (e ) Tj ET Q
q 0 0 0 rg BT 275.86 552.75 Td (have ) Tj ET Q
q 0 0 0 rg BT 297.32 552.75 Td (two ) Tj ET Q
q 0 0 0 rg BT 314.72 552.75 Td (primary ) Tj ET Q
q 0 0 0 rg BT 349.60 552.75 Td (types ) Tj ET Q
q 0 0 0 rg BT 373.41 552.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 383.80 552.75 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 443.17 552.75 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 486.80 552.75 Td (assets: ) Tj ET Q
q 0 0 0 rg BT 515.86 552.75 Td (proprietary ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (fund ) Tj ET Q
q 0 0 0 rg BT 71.37 540.15 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 111.90 540.15 Td (and, ) Tj ET Q
q 0 0 0 rg BT 132.31 540.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 143.10 540.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 150.39 540.15 Td (lesser ) Tj ET Q
q 0 0 0 rg BT 176.92 540.15 Td (extent, ) Tj ET Q
q 0 0 0 rg BT 207.82 540.15 Td (trade ) Tj ET Q
q 0 0 0 rg BT 231.44 540.15 Td (names.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (W) Tj ET Q
q 0 0 0 rg BT 58.57 514.95 Td (e ) Tj ET Q
q 0 0 0 rg BT 64.77 514.95 Td (determine ) Tj ET Q
q 0 0 0 rg BT 108.30 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 122.67 514.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 138.79 514.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 163.07 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 173.36 514.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 188.90 514.95 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 232.44 514.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 258.48 514.95 Td (based ) Tj ET Q
q 0 0 0 rg BT 283.93 514.95 Td (upon ) Tj ET Q
q 0 0 0 rg BT 306.48 514.95 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 353.52 514.95 Td (projected ) Tj ET Q
q 0 0 0 rg BT 394.12 514.95 Td (cash ) Tj ET Q
q 0 0 0 rg BT 414.33 514.95 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 441.83 514.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 469.03 514.95 Td (take ) Tj ET Q
q 0 0 0 rg BT 488.07 514.95 Td (into ) Tj ET Q
q 0 0 0 rg BT 505.95 514.95 Td (consideration ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 91.14 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 102.45 502.35 Td (future ) Tj ET Q
q 0 0 0 rg BT 130.08 502.35 Td (fees, ) Tj ET Q
q 0 0 0 rg BT 152.17 502.35 Td (profit ) Tj ET Q
q 0 0 0 rg BT 178.06 502.35 Td (mar) Tj ET Q
q 0 0 0 rg BT 194.20 502.35 Td (gins, ) Tj ET Q
q 0 0 0 rg BT 216.89 502.35 Td (growth ) Tj ET Q
q 0 0 0 rg BT 249.20 502.35 Td (rates, ) Tj ET Q
q 0 0 0 rg BT 274.20 502.35 Td (taxes, ) Tj ET Q
q 0 0 0 rg BT 300.97 502.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 318.69 502.35 Td (discount ) Tj ET Q
q 0 0 0 rg BT 356.83 502.35 Td (rates. ) Tj ET Q
q 0 0 0 rg BT 381.84 502.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 384.22 502.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 403.11 502.35 Td (determination ) Tj ET Q
q 0 0 0 rg BT 463.98 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 475.29 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 490.68 502.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 507.82 502.35 Td (values ) Tj ET Q
q 0 0 0 rg BT 537.20 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 548.51 502.35 Td (our ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 109.58 489.75 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 153.93 489.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 180.78 489.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 190.14 489.75 Td (highly ) Tj ET Q
q 0 0 0 rg BT 219.33 489.75 Td (dependent ) Tj ET Q
q 0 0 0 rg BT 264.83 489.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 277.69 489.75 Td (these ) Tj ET Q
q 0 0 0 rg BT 301.62 489.75 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 343.04 489.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 360.56 489.75 Td (changes ) Tj ET Q
q 0 0 0 rg BT 396.73 489.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 407.25 489.75 Td (these ) Tj ET Q
q 0 0 0 rg BT 431.18 489.75 Td (inputs ) Tj ET Q
q 0 0 0 rg BT 459.21 489.75 Td (could ) Tj ET Q
q 0 0 0 rg BT 484.89 489.75 Td (result ) Tj ET Q
q 0 0 0 rg BT 510.58 489.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 521.10 489.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 528.11 489.75 Td (material ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 100.21 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 111.27 477.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 126.41 477.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 157.28 477.15 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 194.57 477.15 Td (values. ) Tj ET Q
q 0 0 0 rg BT 225.82 477.15 Td (An ) Tj ET Q
q 0 0 0 rg BT 240.96 477.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 263.68 477.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 272.99 477.15 Td (determined ) Tj ET Q
q 0 0 0 rg BT 322.53 477.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 333.01 477.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 345.23 477.15 Td (impaired ) Tj ET Q
q 0 0 0 rg BT 384.86 477.15 Td (if ) Tj ET Q
q 0 0 0 rg BT 393.58 477.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 408.72 477.15 Td (current ) Tj ET Q
q 0 0 0 rg BT 440.76 477.15 Td (implied ) Tj ET Q
q 0 0 0 rg BT 475.15 477.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 492.02 477.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 517.07 477.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 526.38 477.15 Td (less ) Tj ET Q
q 0 0 0 rg BT 544.44 477.15 Td (than ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.16 464.55 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 104.73 464.55 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 142.54 464.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 168.12 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 179.70 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 195.37 464.55 Td (asset. ) Tj ET Q
q 0 0 0 rg BT 221.24 464.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 224.08 464.55 Td (If ) Tj ET Q
q 0 0 0 rg BT 233.91 464.55 Td (an ) Tj ET Q
q 0 0 0 rg BT 246.65 464.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 269.90 464.55 Td (is ) Tj ET Q
q 0 0 0 rg BT 279.74 464.55 Td (impaired, ) Tj ET Q
q 0 0 0 rg BT 322.52 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 338.19 464.55 Td (dif) Tj ET Q
q 0 0 0 rg BT 349.66 464.55 Td (ference ) Tj ET Q
q 0 0 0 rg BT 383.38 464.55 Td (between ) Tj ET Q
q 0 0 0 rg BT 421.20 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 436.87 464.55 Td (current ) Tj ET Q
q 0 0 0 rg BT 469.44 464.55 Td (implied ) Tj ET Q
q 0 0 0 rg BT 504.35 464.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 521.76 464.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 547.34 464.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.12 451.95 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 102.90 451.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 128.43 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 139.97 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 155.59 451.95 Td (asset ) Tj ET Q
q 0 0 0 rg BT 178.79 451.95 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 218.31 451.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 231.60 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 247.22 451.95 Td (financial ) Tj ET Q
q 0 0 0 rg BT 286.74 451.95 Td (statements ) Tj ET Q
q 0 0 0 rg BT 333.86 451.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 343.66 451.95 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 392.51 451.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 404.05 451.95 Td (an ) Tj ET Q
q 0 0 0 rg BT 416.75 451.95 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 461.53 451.95 Td (expense ) Tj ET Q
q 0 0 0 rg BT 498.14 451.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 509.10 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 524.72 451.95 Td (period ) Tj ET Q
q 0 0 0 rg BT 554.34 451.95 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 77.79 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 93.24 439.35 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 144.27 439.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 153.90 439.35 Td (determined ) Tj ET Q
q 0 0 0 rg BT 203.75 439.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 214.55 439.35 Td (exist. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (Contracts ) Tj ET Q
q 0 0 0 rg BT 92.59 414.15 Td (that ) Tj ET Q
q 0 0 0 rg BT 111.19 414.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 126.86 414.15 Td (managed ) Tj ET Q
q 0 0 0 rg BT 167.61 414.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 185.62 414.15 Td (operated ) Tj ET Q
q 0 0 0 rg BT 224.62 414.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 236.21 414.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 243.72 414.15 Td (single ) Tj ET Q
q 0 0 0 rg BT 271.66 414.15 Td (unit, ) Tj ET Q
q 0 0 0 rg BT 293.47 414.15 Td (such ) Tj ET Q
q 0 0 0 rg BT 315.57 414.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 327.16 414.15 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 367.91 414.15 Td (within ) Tj ET Q
q 0 0 0 rg BT 397.60 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 413.28 414.15 Td (same ) Tj ET Q
q 0 0 0 rg BT 437.70 414.15 Td (family ) Tj ET Q
q 0 0 0 rg BT 467.96 414.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 479.56 414.15 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 508.37 414.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 524.04 414.15 Td (reviewed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.07 401.55 Td (aggregate ) Tj ET Q
q 0 0 0 rg BT 103.29 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 120.86 401.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 136.08 401.55 Td (considered ) Tj ET Q
q 0 0 0 rg BT 183.97 401.55 Td (interchangeable ) Tj ET Q
q 0 0 0 rg BT 252.84 401.55 Td (if ) Tj ET Q
q 0 0 0 rg BT 261.66 401.55 Td (investors ) Tj ET Q
q 0 0 0 rg BT 301.98 401.55 Td (can ) Tj ET Q
q 0 0 0 rg BT 318.96 401.55 Td (transfer ) Tj ET Q
q 0 0 0 rg BT 353.44 401.55 Td (between ) Tj ET Q
q 0 0 0 rg BT 390.83 401.55 Td (funds ) Tj ET Q
q 0 0 0 rg BT 416.57 401.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 437.64 401.55 Td (limited ) Tj ET Q
q 0 0 0 rg BT 469.80 401.55 Td (restrictions. ) Tj ET Q
q 0 0 0 rg BT 521.49 401.55 Td (Similarly) Tj ET Q
q 0 0 0 rg BT 559.89 401.55 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (cash ) Tj ET Q
q 0 0 0 rg BT 70.80 388.95 Td (flows ) Tj ET Q
q 0 0 0 rg BT 96.78 388.95 Td (generated ) Tj ET Q
q 0 0 0 rg BT 140.23 388.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 153.38 388.95 Td (new ) Tj ET Q
q 0 0 0 rg BT 173.52 388.95 Td (funds ) Tj ET Q
q 0 0 0 rg BT 199.50 388.95 Td (added ) Tj ET Q
q 0 0 0 rg BT 227.21 388.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 238.03 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 253.50 388.95 Td (fund ) Tj ET Q
q 0 0 0 rg BT 275.39 388.95 Td (group ) Tj ET Q
q 0 0 0 rg BT 302.54 388.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 318.00 388.95 Td (included ) Tj ET Q
q 0 0 0 rg BT 356.80 388.95 Td (when ) Tj ET Q
q 0 0 0 rg BT 382.19 388.95 Td (determining ) Tj ET Q
q 0 0 0 rg BT 435.57 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 451.05 388.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 468.26 388.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 493.65 388.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 505.04 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 520.51 388.95 Td (intangible ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (asset. ) Tj ET Q
q 0 0 0 rg BT 74.35 376.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 75.75 376.35 Td (As ) Tj ET Q
q 0 0 0 rg BT 89.23 376.35 Td (further ) Tj ET Q
q 0 0 0 rg BT 119.61 376.35 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 161.67 376.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 171.64 376.35 Td (Note ) Tj ET Q
q 0 0 0 rg BT 193.86 376.35 Td (2 ) Tj ET Q
q 0 0 0 rg BT 200.92 376.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 211.48 376.35 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 237.78 376.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 247.76 376.35 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 304.98 376.35 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 345.86 376.35 Td (Statements, ) Tj ET Q
q 0 0 0 rg BT 396.37 376.35 Td (EnT) Tj ET Q
q 0 0 0 rg BT 414.08 376.35 Td (rust ) Tj ET Q
q 0 0 0 rg BT 431.64 376.35 Td (has ) Tj ET Q
q 0 0 0 rg BT 447.45 376.35 Td (been ) Tj ET Q
q 0 0 0 rg BT 469.08 376.35 Td (combined ) Tj ET Q
q 0 0 0 rg BT 512.29 376.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 532.77 376.35 Td (Permal ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 59.09 363.75 Td (form ) Tj ET Q
q 0 0 0 rg BT 80.93 363.75 Td (EnT) Tj ET Q
q 0 0 0 rg BT 98.64 363.75 Td (rustPermal, ) Tj ET Q
q 0 0 0 rg BT 148.18 363.75 Td (through ) Tj ET Q
q 0 0 0 rg BT 182.27 363.75 Td (common ) Tj ET Q
q 0 0 0 rg BT 220.44 363.75 Td (management, ) Tj ET Q
q 0 0 0 rg BT 278.14 363.75 Td (shared ) Tj ET Q
q 0 0 0 rg BT 306.97 363.75 Td (resources ) Tj ET Q
q 0 0 0 rg BT 348.04 363.75 Td (\(including ) Tj ET Q
q 0 0 0 rg BT 392.62 363.75 Td (infrastructure, ) Tj ET Q
q 0 0 0 rg BT 453.23 363.75 Td (employees, ) Tj ET Q
q 0 0 0 rg BT 502.19 363.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 518.77 363.75 Td (processes\) ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 66.93 351.15 Td (branding ) Tj ET Q
q 0 0 0 rg BT 106.52 351.15 Td (initiatives. ) Tj ET Q
q 0 0 0 rg BT 152.83 351.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 154.59 351.15 Td (Accordingly) Tj ET Q
q 0 0 0 rg BT 206.40 351.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 211.29 351.15 Td (after ) Tj ET Q
q 0 0 0 rg BT 232.79 351.15 Td (completing ) Tj ET Q
q 0 0 0 rg BT 282.30 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 297.39 351.15 Td (annual ) Tj ET Q
q 0 0 0 rg BT 327.65 351.15 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 378.32 351.15 Td (testing ) Tj ET Q
q 0 0 0 rg BT 408.59 351.15 Td (process ) Tj ET Q
q 0 0 0 rg BT 442.35 351.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 452.78 351.15 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 477.79 351.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 503.68 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 518.78 351.15 Td (indefinite-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (life ) Tj ET Q
q 0 0 0 rg BT 66.73 338.55 Td (funds ) Tj ET Q
q 0 0 0 rg BT 93.31 338.55 Td (management ) Tj ET Q
q 0 0 0 rg BT 150.19 338.55 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 191.33 338.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 214.98 338.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 246.79 338.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 258.19 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 274.26 338.55 Td (EnT) Tj ET Q
q 0 0 0 rg BT 291.97 338.55 Td (rust ) Tj ET Q
q 0 0 0 rg BT 310.96 338.55 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 360.28 338.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 379.85 338.55 Td (combined ) Tj ET Q
q 0 0 0 rg BT 424.50 338.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 446.41 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 462.47 338.55 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 523.44 338.55 Td (funds-of-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (hedge ) Tj ET Q
q 0 0 0 rg BT 77.02 325.95 Td (funds ) Tj ET Q
q 0 0 0 rg BT 102.80 325.95 Td (management ) Tj ET Q
q 0 0 0 rg BT 158.89 325.95 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 199.24 325.95 Td (asset ) Tj ET Q
q 0 0 0 rg BT 222.10 325.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 253.11 325.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 263.73 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 279.01 325.95 Td (legacy ) Tj ET Q
q 0 0 0 rg BT 308.85 325.95 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 341.04 325.95 Td (business. ) Tj ET Q
q 0 0 0 rg BT 381.71 325.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 383.98 325.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 402.75 325.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 433.76 325.95 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 471.19 325.95 Td (values ) Tj ET Q
q 0 0 0 rg BT 500.46 325.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 518.07 325.95 Td (cash ) Tj ET Q
q 0 0 0 rg BT 539.18 325.95 Td (flows ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.87 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 76.32 313.35 Td (funds ) Tj ET Q
q 0 0 0 rg BT 102.28 313.35 Td (have ) Tj ET Q
q 0 0 0 rg BT 124.73 313.35 Td (been ) Tj ET Q
q 0 0 0 rg BT 147.18 313.35 Td (aggregated ) Tj ET Q
q 0 0 0 rg BT 195.86 313.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 210.73 313.35 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 261.76 313.35 Td (testing. ) Tj ET Q
q 0 0 0 rg BT 295.00 313.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (Projected ) Tj ET Q
q 0 0 0 rg BT 91.70 288.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 112.90 288.15 Td (flows ) Tj ET Q
q 0 0 0 rg BT 138.77 288.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 154.13 288.15 Td (based ) Tj ET Q
q 0 0 0 rg BT 180.58 288.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 193.63 288.15 Td (annualized ) Tj ET Q
q 0 0 0 rg BT 241.65 288.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 262.85 288.15 Td (flows ) Tj ET Q
q 0 0 0 rg BT 288.73 288.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 303.51 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 318.88 288.15 Td (applicable ) Tj ET Q
q 0 0 0 rg BT 364.57 288.15 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 405.01 288.15 Td (projected ) Tj ET Q
q 0 0 0 rg BT 446.62 288.15 Td (forward ) Tj ET Q
q 0 0 0 rg BT 482.40 288.15 Td (40�years, ) Tj ET Q
q 0 0 0 rg BT 522.84 288.15 Td (assuming ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.55 Td (annual ) Tj ET Q
q 0 0 0 rg BT 79.81 275.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 100.80 275.55 Td (flow ) Tj ET Q
q 0 0 0 rg BT 122.37 275.55 Td (growth ) Tj ET Q
q 0 0 0 rg BT 154.45 275.55 Td (from ) Tj ET Q
q 0 0 0 rg BT 177.18 275.55 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 219.75 275.55 Td (net ) Tj ET Q
q 0 0 0 rg BT 234.90 275.55 Td (client ) Tj ET Q
q 0 0 0 rg BT 260.55 275.55 Td (flows ) Tj ET Q
q 0 0 0 rg BT 286.21 275.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 303.70 275.55 Td (projected ) Tj ET Q
q 0 0 0 rg BT 345.09 275.55 Td (market ) Tj ET Q
q 0 0 0 rg BT 376.57 275.55 Td (performance. ) Tj ET Q
q 0 0 0 rg BT 434.57 275.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 436.73 275.55 Td (T) Tj ET Q
q 0 0 0 rg BT 442.41 275.55 Td (o ) Tj ET Q
q 0 0 0 rg BT 449.98 275.55 Td (estimate ) Tj ET Q
q 0 0 0 rg BT 487.30 275.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 502.45 275.55 Td (projected ) Tj ET Q
q 0 0 0 rg BT 543.84 275.55 Td (cash ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 262.95 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 77.88 262.95 Td (projected ) Tj ET Q
q 0 0 0 rg BT 119.36 262.95 Td (growth ) Tj ET Q
q 0 0 0 rg BT 151.52 262.95 Td (rates ) Tj ET Q
q 0 0 0 rg BT 173.76 262.95 Td (by ) Tj ET Q
q 0 0 0 rg BT 186.68 262.95 Td (af) Tj ET Q
q 0 0 0 rg BT 194.65 262.95 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 221.56 262.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 236.79 262.95 Td (used ) Tj ET Q
q 0 0 0 rg BT 258.46 262.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 269.04 262.95 Td (project ) Tj ET Q
q 0 0 0 rg BT 300.62 262.95 Td (their ) Tj ET Q
q 0 0 0 rg BT 321.74 262.95 Td (AUM. ) Tj ET Q
q 0 0 0 rg BT 351.29 262.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 353.71 262.95 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 377.13 262.95 Td (flow ) Tj ET Q
q 0 0 0 rg BT 398.79 262.95 Td (growth ) Tj ET Q
q 0 0 0 rg BT 430.96 262.95 Td (rates ) Tj ET Q
q 0 0 0 rg BT 453.20 262.95 Td (consider ) Tj ET Q
q 0 0 0 rg BT 491.19 262.95 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 532.68 262.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 543.85 262.95 Td (both ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 250.35 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 77.59 250.35 Td (flows ) Tj ET Q
q 0 0 0 rg BT 104.50 250.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 123.25 250.35 Td (market ) Tj ET Q
q 0 0 0 rg BT 155.99 250.35 Td (expectations ) Tj ET Q
q 0 0 0 rg BT 212.05 250.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 226.13 250.35 Td (asset ) Tj ET Q
q 0 0 0 rg BT 250.13 250.35 Td (class ) Tj ET Q
q 0 0 0 rg BT 274.13 250.35 Td (\(equity) Tj ET Q
q 0 0 0 rg BT 303.19 250.35 Td (, ) Tj ET Q
q 0 0 0 rg BT 309.40 250.35 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 334.55 250.35 Td (income, ) Tj ET Q
q 0 0 0 rg BT 371.67 250.35 Td (alternative, ) Tj ET Q
q 0 0 0 rg BT 422.19 250.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 440.93 250.35 Td (liquidity\) ) Tj ET Q
q 0 0 0 rg BT 483.60 250.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 502.34 250.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 516.43 250.35 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 237.75 Td (manager ) Tj ET Q
q 0 0 0 rg BT 87.08 237.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 112.41 237.75 Td (upon, ) Tj ET Q
q 0 0 0 rg BT 137.47 237.75 Td (among ) Tj ET Q
q 0 0 0 rg BT 167.47 237.75 Td (other ) Tj ET Q
q 0 0 0 rg BT 190.48 237.75 Td (things, ) Tj ET Q
q 0 0 0 rg BT 220.20 237.75 Td (historical ) Tj ET Q
q 0 0 0 rg BT 260.71 237.75 Td (experience ) Tj ET Q
q 0 0 0 rg BT 307.60 237.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 324.19 237.75 Td (expectations ) Tj ET Q
q 0 0 0 rg BT 378.10 237.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 388.28 237.75 Td (future ) Tj ET Q
q 0 0 0 rg BT 414.78 237.75 Td (market ) Tj ET Q
q 0 0 0 rg BT 445.36 237.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 461.95 237.75 Td (investment ) Tj ET Q
q 0 0 0 rg BT 509.46 237.75 Td (performance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 225.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 72.43 225.15 Td (internal ) Tj ET Q
q 0 0 0 rg BT 107.02 225.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 124.70 225.15 Td (external ) Tj ET Q
q 0 0 0 rg BT 161.03 225.15 Td (sources. ) Tj ET Q
q 0 0 0 rg BT 197.66 225.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 200.18 225.15 Td (Currently) Tj ET Q
q 0 0 0 rg BT 239.74 225.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 244.89 225.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 261.40 225.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 293.07 225.15 Td (growth ) Tj ET Q
q 0 0 0 rg BT 325.34 225.15 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 379.78 225.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 395.12 225.15 Td (6% ) Tj ET Q
q 0 0 0 rg BT 411.63 225.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 426.39 225.15 Td (equity) Tj ET Q
q 0 0 0 rg BT 451.96 225.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 457.10 225.15 Td (3% ) Tj ET Q
q 0 0 0 rg BT 473.62 225.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 488.38 225.15 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 512.47 225.15 Td (income, ) Tj ET Q
q 0 0 0 rg BT 548.52 225.15 Td (4% ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 212.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 64.52 212.55 Td (alternative, ) Tj ET Q
q 0 0 0 rg BT 114.23 212.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 132.17 212.55 Td (0% ) Tj ET Q
q 0 0 0 rg BT 148.94 212.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 163.96 212.55 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 202.33 212.55 Td (products, ) Tj ET Q
q 0 0 0 rg BT 243.89 212.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 265.34 212.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 272.78 212.55 Td (general ) Tj ET Q
q 0 0 0 rg BT 306.45 212.55 Td (assumption ) Tj ET Q
q 0 0 0 rg BT 357.06 212.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 368.59 212.55 Td (2% ) Tj ET Q
q 0 0 0 rg BT 385.36 212.55 Td (or) Tj ET Q
q 0 0 0 rg BT 393.92 212.55 Td (ganic ) Tj ET Q
q 0 0 0 rg BT 419.43 212.55 Td (growth ) Tj ET Q
q 0 0 0 rg BT 451.96 212.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 466.98 212.55 Td (all ) Tj ET Q
q 0 0 0 rg BT 480.25 212.55 Td (products, ) Tj ET Q
q 0 0 0 rg BT 521.81 212.55 Td (subject ) Tj ET Q
q 0 0 0 rg BT 554.33 212.55 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 199.95 Td (exceptions ) Tj ET Q
q 0 0 0 rg BT 97.03 199.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 111.90 199.95 Td (or) Tj ET Q
q 0 0 0 rg BT 120.45 199.95 Td (ganic ) Tj ET Q
q 0 0 0 rg BT 145.82 199.95 Td (growth ) Tj ET Q
q 0 0 0 rg BT 178.19 199.95 Td (\(contraction\), ) Tj ET Q
q 0 0 0 rg BT 237.66 199.95 Td (generally ) Tj ET Q
q 0 0 0 rg BT 279.35 199.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 290.14 199.95 Td (years ) Tj ET Q
q 0 0 0 rg BT 314.92 199.95 Td (one ) Tj ET Q
q 0 0 0 rg BT 332.71 199.95 Td (through ) Tj ET Q
q 0 0 0 rg BT 368.00 199.95 Td (five.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 174.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.62 174.75 Td (starting ) Tj ET Q
q 0 0 0 rg BT 102.91 174.75 Td (point ) Tj ET Q
q 0 0 0 rg BT 127.30 174.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 142.34 174.75 Td (these ) Tj ET Q
q 0 0 0 rg BT 166.71 174.75 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 221.43 174.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 231.23 174.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 248.02 174.75 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 290.46 174.75 Td (planning ) Tj ET Q
q 0 0 0 rg BT 330.00 174.75 Td (process ) Tj ET Q
q 0 0 0 rg BT 364.29 174.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 382.83 174.75 Td (includes ) Tj ET Q
q 0 0 0 rg BT 420.62 174.75 Td (three-year ) Tj ET Q
q 0 0 0 rg BT 465.35 174.75 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 492.65 174.75 Td (projections ) Tj ET Q
q 0 0 0 rg BT 542.11 174.75 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 162.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.68 162.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 122.67 162.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 134.77 162.15 Td (each ) Tj ET Q
q 0 0 0 rg BT 157.35 162.15 Td (operating ) Tj ET Q
q 0 0 0 rg BT 200.36 162.15 Td (af) Tj ET Q
q 0 0 0 rg BT 208.33 162.15 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 236.16 162.15 Td (that ) Tj ET Q
q 0 0 0 rg BT 255.26 162.15 Td (consider ) Tj ET Q
q 0 0 0 rg BT 294.18 162.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 310.36 162.15 Td (specific ) Tj ET Q
q 0 0 0 rg BT 346.36 162.15 Td (business ) Tj ET Q
q 0 0 0 rg BT 385.30 162.15 Td (circumstances ) Tj ET Q
q 0 0 0 rg BT 448.13 162.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 460.22 162.15 Td (each ) Tj ET Q
q 0 0 0 rg BT 482.80 162.15 Td (af) Tj ET Q
q 0 0 0 rg BT 490.77 162.15 Td (filiate, ) Tj ET Q
q 0 0 0 rg BT 521.24 162.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 543.25 162.15 Td (flow ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 149.55 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 104.50 149.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 119.82 149.55 Td (years ) Tj ET Q
q 0 0 0 rg BT 145.06 149.55 Td (one ) Tj ET Q
q 0 0 0 rg BT 163.29 149.55 Td (through ) Tj ET Q
q 0 0 0 rg BT 199.04 149.55 Td (five ) Tj ET Q
q 0 0 0 rg BT 218.44 149.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 233.76 149.55 Td (certain ) Tj ET Q
q 0 0 0 rg BT 265.40 149.55 Td (af) Tj ET Q
q 0 0 0 rg BT 273.37 149.55 Td (filiates ) Tj ET Q
q 0 0 0 rg BT 305.03 149.55 Td (adjusted, ) Tj ET Q
q 0 0 0 rg BT 345.72 149.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 357.55 149.55 Td (appropriate, ) Tj ET Q
q 0 0 0 rg BT 411.06 149.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 422.31 149.55 Td (reflect ) Tj ET Q
q 0 0 0 rg BT 452.20 149.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 459.94 149.55 Td (market ) Tj ET Q
q 0 0 0 rg BT 492.17 149.55 Td (participant ) Tj ET Q
q 0 0 0 rg BT 540.14 149.55 Td (view) Tj ET Q
q 0 0 0 rg BT 559.87 149.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 565.12 149.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 136.95 Td (Beyond ) Tj ET Q
q 0 0 0 rg BT 83.86 136.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 103.63 136.95 Td (three, ) Tj ET Q
q 0 0 0 rg BT 128.94 136.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 143.46 136.95 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 184.24 136.95 Td (move ) Tj ET Q
q 0 0 0 rg BT 209.26 136.95 Td (towards ) Tj ET Q
q 0 0 0 rg BT 244.21 136.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 259.90 136.95 Td (general ) Tj ET Q
q 0 0 0 rg BT 292.49 136.95 Td (or) Tj ET Q
q 0 0 0 rg BT 301.05 136.95 Td (ganic ) Tj ET Q
q 0 0 0 rg BT 325.49 136.95 Td (growth ) Tj ET Q
q 0 0 0 rg BT 356.93 136.95 Td (assumption ) Tj ET Q
q 0 0 0 rg BT 406.47 136.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 416.91 136.95 Td (2%, ) Tj ET Q
q 0 0 0 rg BT 435.23 136.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 445.68 136.95 Td (appropriate ) Tj ET Q
q 0 0 0 rg BT 495.19 136.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 509.13 136.95 Td (each ) Tj ET Q
q 0 0 0 rg BT 530.06 136.95 Td (af) Tj ET Q
q 0 0 0 rg BT 538.03 136.95 Td (filiate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 124.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 66.97 124.35 Td (asset ) Tj ET Q
q 0 0 0 rg BT 89.69 124.35 Td (class, ) Tj ET Q
q 0 0 0 rg BT 115.03 124.35 Td (through ) Tj ET Q
q 0 0 0 rg BT 150.00 124.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 170.38 124.35 Td (20. ) Tj ET Q
q 0 0 0 rg BT 185.81 124.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 187.95 124.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 206.58 124.35 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 245.63 124.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 266.60 124.35 Td (flow ) Tj ET Q
q 0 0 0 rg BT 288.15 124.35 Td (growth ) Tj ET Q
q 0 0 0 rg BT 320.21 124.35 Td (rate ) Tj ET Q
q 0 0 0 rg BT 338.25 124.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 352.80 124.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 373.18 124.35 Td (20 ) Tj ET Q
q 0 0 0 rg BT 385.98 124.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 395.29 124.35 Td (held ) Tj ET Q
q 0 0 0 rg BT 415.68 124.35 Td (constant ) Tj ET Q
q 0 0 0 rg BT 452.98 124.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 470.45 124.35 Td (used ) Tj ET Q
q 0 0 0 rg BT 492.00 124.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 502.48 124.35 Td (further ) Tj ET Q
q 0 0 0 rg BT 533.35 124.35 Td (project ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 111.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 70.69 111.75 Td (flows ) Tj ET Q
q 0 0 0 rg BT 96.56 111.75 Td (through ) Tj ET Q
q 0 0 0 rg BT 131.77 111.75 Td (year ) Tj ET Q
q 0 0 0 rg BT 152.37 111.75 Td (40. ) Tj ET Q
q 0 0 0 rg BT 168.03 111.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 170.57 111.75 Td (Based ) Tj ET Q
q 0 0 0 rg BT 198.77 111.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 211.80 111.75 Td (projected ) Tj ET Q
q 0 0 0 rg BT 252.84 111.75 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 279.88 111.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 292.92 111.75 Td (af) Tj ET Q
q 0 0 0 rg BT 300.89 111.75 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 327.91 111.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 345.61 111.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 368.56 111.75 Td (class, ) Tj ET Q
q 0 0 0 rg BT 394.13 111.75 Td (af) Tj ET Q
q 0 0 0 rg BT 402.10 111.75 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 429.12 111.75 Td (advisory ) Tj ET Q
q 0 0 0 rg BT 467.82 111.75 Td (fee ) Tj ET Q
q 0 0 0 rg BT 483.17 111.75 Td (rates ) Tj ET Q
q 0 0 0 rg BT 505.53 111.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 520.89 111.75 Td (applied ) Tj ET Q
q 0 0 0 rg BT 554.33 111.75 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 99.15 Td (determine ) Tj ET Q
q 0 0 0 rg BT 94.42 99.15 Td (projected ) Tj ET Q
q 0 0 0 rg BT 136.43 99.15 Td (revenues. ) Tj ET Q
q 0 0 0 rg BT 179.31 99.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 182.04 99.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 201.30 99.15 Td (domestic ) Tj ET Q
q 0 0 0 rg BT 242.16 99.15 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 274.26 99.15 Td (fund ) Tj ET Q
q 0 0 0 rg BT 296.45 99.15 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 337.29 99.15 Td (projected ) Tj ET Q
q 0 0 0 rg BT 379.29 99.15 Td (revenues ) Tj ET Q
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q 0 0 0 rg BT 310.49 552.75 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 361.52 552.75 Td (testing. ) Tj ET Q
q 0 0 0 rg BT 394.77 552.75 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (Discount ) Tj ET Q
q 0 0 0 rg BT 90.63 527.55 Td (rates ) Tj ET Q
q 0 0 0 rg BT 113.67 527.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 129.70 527.55 Td (based ) Tj ET Q
q 0 0 0 rg BT 156.82 527.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 170.54 527.55 Td (appropriately ) Tj ET Q
q 0 0 0 rg BT 229.73 527.55 Td (weighted ) Tj ET Q
q 0 0 0 rg BT 271.43 527.55 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 314.89 527.55 Td (costs ) Tj ET Q
q 0 0 0 rg BT 339.10 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 351.06 527.55 Td (debt ) Tj ET Q
q 0 0 0 rg BT 372.36 527.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 390.73 527.55 Td (equity ) Tj ET Q
q 0 0 0 rg BT 420.19 527.55 Td (capital ) Tj ET Q
q 0 0 0 rg BT 451.39 527.55 Td (using ) Tj ET Q
q 0 0 0 rg BT 477.36 527.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 485.24 527.55 Td (market ) Tj ET Q
q 0 0 0 rg BT 517.60 527.55 Td (participant ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (perspective. ) Tj ET Q
q 0 0 0 rg BT 102.35 514.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 104.60 514.95 Td (W) Tj ET Q
q 0 0 0 rg BT 113.67 514.95 Td (e ) Tj ET Q
q 0 0 0 rg BT 120.74 514.95 Td (estimate ) Tj ET Q
q 0 0 0 rg BT 158.15 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 173.40 514.95 Td (cost ) Tj ET Q
q 0 0 0 rg BT 192.73 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 203.89 514.95 Td (debt ) Tj ET Q
q 0 0 0 rg BT 224.39 514.95 Td (based ) Tj ET Q
q 0 0 0 rg BT 250.71 514.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 263.63 514.95 Td (published ) Tj ET Q
q 0 0 0 rg BT 306.88 514.95 Td (debt ) Tj ET Q
q 0 0 0 rg BT 327.37 514.95 Td (rates. ) Tj ET Q
q 0 0 0 rg BT 352.06 514.95 Td (W) Tj ET Q
q 0 0 0 rg BT 361.13 514.95 Td (e ) Tj ET Q
q 0 0 0 rg BT 368.21 514.95 Td (estimate ) Tj ET Q
q 0 0 0 rg BT 405.62 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 420.86 514.95 Td (cost ) Tj ET Q
q 0 0 0 rg BT 440.20 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 451.36 514.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 480.02 514.95 Td (capital ) Tj ET Q
q 0 0 0 rg BT 510.42 514.95 Td (based ) Tj ET Q
q 0 0 0 rg BT 536.75 514.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 549.67 514.95 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (Capital ) Tj ET Q
q 0 0 0 rg BT 82.55 502.35 Td (Asset ) Tj ET Q
q 0 0 0 rg BT 109.38 502.35 Td (Pricing ) Tj ET Q
q 0 0 0 rg BT 143.20 502.35 Td (Model, ) Tj ET Q
q 0 0 0 rg BT 176.74 502.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 205.89 502.35 Td (considers ) Tj ET Q
q 0 0 0 rg BT 249.05 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 265.37 502.35 Td (risk-free ) Tj ET Q
q 0 0 0 rg BT 304.42 502.35 Td (interest ) Tj ET Q
q 0 0 0 rg BT 338.82 502.35 Td (rate, ) Tj ET Q
q 0 0 0 rg BT 360.68 502.35 Td (peer) Tj ET Q
q 0 0 0 rg BT 378.54 502.35 Td (-group ) Tj ET Q
q 0 0 0 rg BT 410.02 502.35 Td (betas, ) Tj ET Q
q 0 0 0 rg BT 437.72 502.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 456.37 502.35 Td (company ) Tj ET Q
q 0 0 0 rg BT 498.36 502.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 517.01 502.35 Td (equity ) Tj ET Q
q 0 0 0 rg BT 546.75 502.35 Td (risk ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (premiums. ) Tj ET Q
q 0 0 0 rg BT 95.82 489.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 97.40 489.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 115.43 489.75 Td (equity ) Tj ET Q
q 0 0 0 rg BT 143.37 489.75 Td (risk ) Tj ET Q
q 0 0 0 rg BT 160.82 489.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 169.53 489.75 Td (further ) Tj ET Q
q 0 0 0 rg BT 199.80 489.75 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 236.49 489.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 246.36 489.75 Td (consider ) Tj ET Q
q 0 0 0 rg BT 283.63 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 298.16 489.75 Td (relative ) Tj ET Q
q 0 0 0 rg BT 331.34 489.75 Td (risk ) Tj ET Q
q 0 0 0 rg BT 348.79 489.75 Td (associated ) Tj ET Q
q 0 0 0 rg BT 393.64 489.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 414.01 489.75 Td (each ) Tj ET Q
q 0 0 0 rg BT 434.94 489.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 445.39 489.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 461.09 489.75 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 520.52 489.75 Td (intangible ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 72.54 477.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 90.32 477.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 106.94 477.15 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 148.06 477.15 Td (unit. ) Tj ET Q
q 0 0 0 rg BT 169.45 477.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 188.40 477.15 Td (discount ) Tj ET Q
q 0 0 0 rg BT 226.61 477.15 Td (rates ) Tj ET Q
q 0 0 0 rg BT 249.06 477.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 264.50 477.15 Td (also ) Tj ET Q
q 0 0 0 rg BT 284.04 477.15 Td (calibrated ) Tj ET Q
q 0 0 0 rg BT 328.06 477.15 Td (based ) Tj ET Q
q 0 0 0 rg BT 354.59 477.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 367.71 477.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 380.25 477.15 Td (assessment ) Tj ET Q
q 0 0 0 rg BT 429.54 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 440.91 477.15 Td (relevant ) Tj ET Q
q 0 0 0 rg BT 477.35 477.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 509.12 477.15 Td (values. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (Consistent ) Tj ET Q
q 0 0 0 rg BT 95.71 451.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 116.26 451.95 Td (standard ) Tj ET Q
q 0 0 0 rg BT 153.70 451.95 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 194.65 451.95 Td (practices ) Tj ET Q
q 0 0 0 rg BT 233.83 451.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 247.95 451.95 Td (taxable ) Tj ET Q
q 0 0 0 rg BT 280.14 451.95 Td (transactions, ) Tj ET Q
q 0 0 0 rg BT 334.79 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 349.50 451.95 Td (projected ) Tj ET Q
q 0 0 0 rg BT 390.43 451.95 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 437.80 451.95 Td (cash ) Tj ET Q
q 0 0 0 rg BT 458.33 451.95 Td (flow ) Tj ET Q
q 0 0 0 rg BT 479.45 451.95 Td (analysis ) Tj ET Q
q 0 0 0 rg BT 515.16 451.95 Td (also ) Tj ET Q
q 0 0 0 rg BT 533.95 451.95 Td (factors ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.35 439.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 67.70 439.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 83.21 439.35 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 115.05 439.35 Td (value, ) Tj ET Q
q 0 0 0 rg BT 143.10 439.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 154.53 439.35 Td (appropriate. ) Tj ET Q
q 0 0 0 rg BT 207.46 439.35 Td (This ) Tj ET Q
q 0 0 0 rg BT 228.81 439.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 244.32 439.35 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 276.16 439.35 Td (represents ) Tj ET Q
q 0 0 0 rg BT 321.41 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 336.92 439.35 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 385.10 439.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 400.62 439.35 Td (savings ) Tj ET Q
q 0 0 0 rg BT 434.80 439.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 442.15 439.35 Td (third ) Tj ET Q
q 0 0 0 rg BT 464.66 439.35 Td (party ) Tj ET Q
q 0 0 0 rg BT 488.92 439.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 507.35 439.35 Td (purchased ) Tj ET Q
q 0 0 0 rg BT 552.60 439.35 Td (an ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 72.41 426.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 85.41 426.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 92.57 426.75 Td (given ) Tj ET Q
q 0 0 0 rg BT 118.40 426.75 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 159.98 426.75 Td (date ) Tj ET Q
q 0 0 0 rg BT 179.97 426.75 Td (would ) Tj ET Q
q 0 0 0 rg BT 208.72 426.75 Td (receive ) Tj ET Q
q 0 0 0 rg BT 241.52 426.75 Td (from ) Tj ET Q
q 0 0 0 rg BT 264.44 426.75 Td (future ) Tj ET Q
q 0 0 0 rg BT 292.01 426.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 307.34 426.75 Td (deductions ) Tj ET Q
q 0 0 0 rg BT 355.33 426.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 370.07 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 385.40 426.75 Td (amortization ) Tj ET Q
q 0 0 0 rg BT 440.97 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 452.21 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 467.54 426.75 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 507.36 426.75 Td (price ) Tj ET Q
q 0 0 0 rg BT 530.84 426.75 Td (over ) Tj ET Q
q 0 0 0 rg BT 552.00 426.75 Td (15 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (years. ) Tj ET Q
q 0 0 0 rg BT 76.90 414.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 79.34 414.15 Td (T) Tj ET Q
q 0 0 0 rg BT 85.02 414.15 Td (ax ) Tj ET Q
q 0 0 0 rg BT 97.56 414.15 Td (rates ) Tj ET Q
q 0 0 0 rg BT 120.00 414.15 Td (used ) Tj ET Q
q 0 0 0 rg BT 141.88 414.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 152.67 414.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 169.29 414.15 Td (analyses ) Tj ET Q
q 0 0 0 rg BT 207.49 414.15 Td (have ) Tj ET Q
q 0 0 0 rg BT 229.93 414.15 Td (been ) Tj ET Q
q 0 0 0 rg BT 252.38 414.15 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 290.00 414.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 304.86 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 320.32 414.15 Td (new ) Tj ET Q
q 0 0 0 rg BT 340.25 414.15 Td (T) Tj ET Q
q 0 0 0 rg BT 345.93 414.15 Td (ax ) Tj ET Q
q 0 0 0 rg BT 358.46 414.15 Td (Law) Tj ET Q
q 0 0 0 rg BT 376.44 414.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 381.69 414.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 393.06 414.15 Td (appropriate. ) Tj ET Q
q 0 0 0 rg BT 446.12 414.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.15 388.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 73.88 388.95 Td (December ) Tj ET Q
q 0 0 0 rg BT 119.00 388.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 134.11 388.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 159.72 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 174.53 388.95 Td (combined ) Tj ET Q
q 0 0 0 rg BT 217.92 388.95 Td (EnT) Tj ET Q
q 0 0 0 rg BT 235.63 388.95 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 283.11 388.95 Td (fund ) Tj ET Q
q 0 0 0 rg BT 304.33 388.95 Td (management ) Tj ET Q
q 0 0 0 rg BT 359.96 388.95 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 399.85 388.95 Td (asset ) Tj ET Q
q 0 0 0 rg BT 422.24 388.95 Td (accounted ) Tj ET Q
q 0 0 0 rg BT 466.78 388.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 481.01 388.95 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 543.64 388.95 Td (1) Tj ET Q
q 0 0 0 rg BT 548.50 388.95 Td (1% ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.04 376.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 77.83 376.35 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 138.35 376.35 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 183.13 376.35 Td (assets, ) Tj ET Q
q 0 0 0 rg BT 213.05 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 231.00 376.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 240.80 376.35 Td (supported ) Tj ET Q
q 0 0 0 rg BT 285.00 376.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 298.30 376.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 313.92 376.35 Td (combined ) Tj ET Q
q 0 0 0 rg BT 358.12 376.35 Td (EnT) Tj ET Q
q 0 0 0 rg BT 375.83 376.35 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 424.11 376.35 Td (fund ) Tj ET Q
q 0 0 0 rg BT 446.15 376.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 502.59 376.35 Td (business. ) Tj ET Q
q 0 0 0 rg BT 543.59 376.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 546.19 376.35 Td (The ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (past ) Tj ET Q
q 0 0 0 rg BT 67.96 363.75 Td (several ) Tj ET Q
q 0 0 0 rg BT 99.25 363.75 Td (years ) Tj ET Q
q 0 0 0 rg BT 122.95 363.75 Td (have ) Tj ET Q
q 0 0 0 rg BT 144.32 363.75 Td (seen ) Tj ET Q
q 0 0 0 rg BT 164.53 363.75 Td (declines ) Tj ET Q
q 0 0 0 rg BT 200.48 363.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 210.20 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 224.58 363.75 Td (traditional ) Tj ET Q
q 0 0 0 rg BT 269.28 363.75 Td (high ) Tj ET Q
q 0 0 0 rg BT 289.50 363.75 Td (net ) Tj ET Q
q 0 0 0 rg BT 303.88 363.75 Td (worth ) Tj ET Q
q 0 0 0 rg BT 329.92 363.75 Td (client ) Tj ET Q
q 0 0 0 rg BT 354.80 363.75 Td (funds-of-hedge ) Tj ET Q
q 0 0 0 rg BT 420.49 363.75 Td (funds ) Tj ET Q
q 0 0 0 rg BT 445.38 363.75 Td (business, ) Tj ET Q
q 0 0 0 rg BT 485.14 363.75 Td (including ) Tj ET Q
q 0 0 0 rg BT 526.35 363.75 Td (transfers ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.63 351.15 Td (client ) Tj ET Q
q 0 0 0 rg BT 86.33 351.15 Td (funds ) Tj ET Q
q 0 0 0 rg BT 112.05 351.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 134.84 351.15 Td (such ) Tj ET Q
q 0 0 0 rg BT 156.47 351.15 Td (products ) Tj ET Q
q 0 0 0 rg BT 195.01 351.15 Td (into ) Tj ET Q
q 0 0 0 rg BT 213.73 351.15 Td (EnT) Tj ET Q
q 0 0 0 rg BT 231.44 351.15 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 279.31 351.15 Td (separate ) Tj ET Q
q 0 0 0 rg BT 316.08 351.15 Td (account ) Tj ET Q
q 0 0 0 rg BT 351.12 351.15 Td (products. ) Tj ET Q
q 0 0 0 rg BT 392.28 351.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 394.14 351.15 Td (As ) Tj ET Q
q 0 0 0 rg BT 408.19 351.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 415.23 351.15 Td (result, ) Tj ET Q
q 0 0 0 rg BT 443.57 351.15 Td (both ) Tj ET Q
q 0 0 0 rg BT 464.62 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 479.82 351.15 Td (near) Tj ET Q
q 0 0 0 rg BT 497.68 351.15 Td (-term ) Tj ET Q
q 0 0 0 rg BT 522.80 351.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 540.34 351.15 Td (long-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (term ) Tj ET Q
q 0 0 0 rg BT 71.31 338.55 Td (growth ) Tj ET Q
q 0 0 0 rg BT 103.62 338.55 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 158.10 338.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 172.91 338.55 Td (these ) Tj ET Q
q 0 0 0 rg BT 197.05 338.55 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 237.51 338.55 Td (were ) Tj ET Q
q 0 0 0 rg BT 260.48 338.55 Td (reduced, ) Tj ET Q
q 0 0 0 rg BT 298.89 338.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 327.12 338.55 Td (led ) Tj ET Q
q 0 0 0 rg BT 342.51 338.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 353.24 338.55 Td (decreased ) Tj ET Q
q 0 0 0 rg BT 397.19 338.55 Td (projected ) Tj ET Q
q 0 0 0 rg BT 438.82 338.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 460.04 338.55 Td (flows ) Tj ET Q
q 0 0 0 rg BT 485.93 338.55 Td (from ) Tj ET Q
q 0 0 0 rg BT 508.91 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 524.30 338.55 Td (business. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (Based ) Tj ET Q
q 0 0 0 rg BT 76.94 313.35 Td (upon ) Tj ET Q
q 0 0 0 rg BT 99.73 313.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 115.51 313.35 Td (projected ) Tj ET Q
q 0 0 0 rg BT 156.35 313.35 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 203.63 313.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 224.07 313.35 Td (flow ) Tj ET Q
q 0 0 0 rg BT 245.10 313.35 Td (analyses, ) Tj ET Q
q 0 0 0 rg BT 285.08 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 299.69 313.35 Td (EnT) Tj ET Q
q 0 0 0 rg BT 317.40 313.35 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 364.67 313.35 Td (fund ) Tj ET Q
q 0 0 0 rg BT 385.70 313.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 441.13 313.35 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 480.81 313.35 Td (asset ) Tj ET Q
q 0 0 0 rg BT 503.01 313.35 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 539.77 313.35 Td (value ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.56 300.75 Td ($596 ) Tj ET Q
q 0 0 0 rg BT 83.88 300.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 116.54 300.75 Td (exceeded ) Tj ET Q
q 0 0 0 rg BT 157.91 300.75 Td (its ) Tj ET Q
q 0 0 0 rg BT 170.15 300.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 187.03 300.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 212.09 300.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 223.15 300.75 Td ($401 ) Tj ET Q
q 0 0 0 rg BT 246.47 300.75 Td (million, ) Tj ET Q
q 0 0 0 rg BT 281.75 300.75 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 320.81 300.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 331.30 300.75 Td (an ) Tj ET Q
q 0 0 0 rg BT 343.53 300.75 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 394.25 300.75 Td (char) Tj ET Q
q 0 0 0 rg BT 412.13 300.75 Td (ge ) Tj ET Q
q 0 0 0 rg BT 424.36 300.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 434.84 300.75 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 459.90 300.75 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 483.22 300.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 494.28 300.75 Td ($195 ) Tj ET Q
q 0 0 0 rg BT 517.60 300.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 550.25 300.75 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.07 288.15 Td (excess. ) Tj ET Q
q 0 0 0 rg BT 97.84 288.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 100.58 288.15 Td (Base ) Tj ET Q
q 0 0 0 rg BT 123.73 288.15 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 163.79 288.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 195.09 288.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 206.00 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 221.56 288.15 Td (EnT) Tj ET Q
q 0 0 0 rg BT 239.27 288.15 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 287.51 288.15 Td (fund ) Tj ET Q
q 0 0 0 rg BT 309.49 288.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 365.88 288.15 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 406.52 288.15 Td (were ) Tj ET Q
q 0 0 0 rg BT 429.66 288.15 Td (assumed ) Tj ET Q
q 0 0 0 rg BT 468.56 288.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 479.47 288.15 Td (have ) Tj ET Q
q 0 0 0 rg BT 502.03 288.15 Td (annual ) Tj ET Q
q 0 0 0 rg BT 532.76 288.15 Td (growth ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.55 Td (\(contraction\) ) Tj ET Q
q 0 0 0 rg BT 107.16 275.55 Td (rates ) Tj ET Q
q 0 0 0 rg BT 130.41 275.55 Td (ranging ) Tj ET Q
q 0 0 0 rg BT 165.92 275.55 Td (from ) Tj ET Q
q 0 0 0 rg BT 189.77 275.55 Td (\(13\)% ) Tj ET Q
q 0 0 0 rg BT 219.44 275.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 231.04 275.55 Td (6% ) Tj ET Q
q 0 0 0 rg BT 248.47 275.55 Td (\(average: ) Tj ET Q
q 0 0 0 rg BT 290.96 275.55 Td (5%\). ) Tj ET Q
q 0 0 0 rg BT 314.51 275.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 317.94 275.55 Td (Given ) Tj ET Q
q 0 0 0 rg BT 347.04 275.55 Td (current ) Tj ET Q
q 0 0 0 rg BT 380.20 275.55 Td (experience, ) Tj ET Q
q 0 0 0 rg BT 431.73 275.55 Td (projected ) Tj ET Q
q 0 0 0 rg BT 474.23 275.55 Td (near) Tj ET Q
q 0 0 0 rg BT 492.08 275.55 Td (-year ) Tj ET Q
q 0 0 0 rg BT 517.08 275.55 Td (cash ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 79.38 262.95 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 107.81 262.95 Td (outflows ) Tj ET Q
q 0 0 0 rg BT 148.49 262.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 160.59 262.95 Td (years ) Tj ET Q
q 0 0 0 rg BT 186.68 262.95 Td (one, ) Tj ET Q
q 0 0 0 rg BT 208.40 262.95 Td (two, ) Tj ET Q
q 0 0 0 rg BT 230.71 262.95 Td (three, ) Tj ET Q
q 0 0 0 rg BT 258.25 262.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 277.34 262.95 Td (four) Tj ET Q
q 0 0 0 rg BT 294.42 262.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 300.97 262.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 320.07 262.95 Td (trend ) Tj ET Q
q 0 0 0 rg BT 345.57 262.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 357.67 262.95 Td (modest ) Tj ET Q
q 0 0 0 rg BT 391.07 262.95 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 419.51 262.95 Td (inflows ) Tj ET Q
q 0 0 0 rg BT 454.94 262.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 467.04 262.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 489.04 262.95 Td (five. ) Tj ET Q
q 0 0 0 rg BT 511.92 262.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 515.86 262.95 Td (Investment ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 204.47 250.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 236.15 250.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 249.75 250.35 Td (future ) Tj ET Q
q 0 0 0 rg BT 277.92 250.35 Td (asset ) Tj ET Q
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q 0 0 0 rg BT 330.49 250.35 Td (is ) Tj ET Q
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q 0 0 0 rg BT 395.78 250.35 Td (factor ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 74.85 237.75 Td (contracts. ) Tj ET Q
q 0 0 0 rg BT 117.39 237.75 Td ( ) Tj ET Q
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q 0 0 0 rg BT 376.05 237.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 393.81 237.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 409.83 237.75 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 456.15 237.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 482.67 237.75 Td (have ) Tj ET Q
q 0 0 0 rg BT 504.51 237.75 Td (5-year ) Tj ET Q
q 0 0 0 rg BT 533.34 237.75 Td (returns ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 225.15 Td (approximating ) Tj ET Q
q 0 0 0 rg BT 113.12 225.15 Td (5%, ) Tj ET Q
q 0 0 0 rg BT 132.13 225.15 Td (and ) Tj ET Q
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q 0 0 0 rg BT 195.84 225.15 Td (supported ) Tj ET Q
q 0 0 0 rg BT 239.64 225.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 252.52 225.15 Td (industry ) Tj ET Q
q 0 0 0 rg BT 289.33 225.15 Td (statistics. ) Tj ET Q
q 0 0 0 rg BT 330.51 225.15 Td ( ) Tj ET Q
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q 0 0 0 rg BT 413.93 225.15 Td (flows ) Tj ET Q
q 0 0 0 rg BT 439.65 225.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 462.45 225.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 477.66 225.15 Td (EnT) Tj ET Q
q 0 0 0 rg BT 495.37 225.15 Td (rustPermal ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 147.86 212.55 Td (were ) Tj ET Q
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q 0 0 0 rg BT 231.55 212.55 Td (15.0%, ) Tj ET Q
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q 0 0 0 rg BT 324.56 212.55 Td (factors ) Tj ET Q
q 0 0 0 rg BT 356.54 212.55 Td (noted ) Tj ET Q
q 0 0 0 rg BT 383.27 212.55 Td (above. ) Tj ET Q
q 0 0 0 rg BT 414.38 212.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 417.78 212.55 Td (Future ) Tj ET Q
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q 0 0 0 rg BT 503.80 212.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 521.21 212.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 543.27 212.55 Td (flow ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 152.71 199.95 Td (in ) Tj ET Q
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q 0 0 0 rg BT 424.85 199.95 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 479.88 199.95 Td (resulting ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 539.48 187.35 Td (asset. ) Tj ET Q
q 0 0 0 rg BT 565.14 187.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 174.75 Td (There ) Tj ET Q
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q 0 0 0 rg BT 182.02 174.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 205.19 174.75 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 233.90 174.75 Td (market ) Tj ET Q
q 0 0 0 rg BT 265.80 174.75 Td (uncertainty) Tj ET Q
q 0 0 0 rg BT 312.35 174.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 317.72 174.75 Td (or ) Tj ET Q
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q 0 0 0 rg BT 353.55 174.75 Td (factors ) Tj ET Q
q 0 0 0 rg BT 384.86 174.75 Td (will ) Tj ET Q
q 0 0 0 rg BT 403.95 174.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 420.12 174.75 Td (produce ) Tj ET Q
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q 0 0 0 rg BT 469.35 174.75 Td (additional ) Tj ET Q
q 0 0 0 rg BT 514.09 174.75 Td (impairment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 162.15 Td (in ) Tj ET Q
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q 0 0 0 rg BT 78.09 162.15 Td (asset, ) Tj ET Q
q 0 0 0 rg BT 103.75 162.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 132.04 162.15 Td (could ) Tj ET Q
q 0 0 0 rg BT 157.99 162.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 170.53 162.15 Td (significant.) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 75.40 136.95 Td (December ) Tj ET Q
q 0 0 0 rg BT 121.29 136.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 137.15 136.95 Td (2017, ) Tj ET Q
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q 0 0 0 rg BT 179.09 136.95 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 209.84 136.95 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 269.72 136.95 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 301.63 136.95 Td (funds ) Tj ET Q
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q 0 0 0 rg BT 391.50 136.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 402.99 136.95 Td ($133 ) Tj ET Q
q 0 0 0 rg BT 426.73 136.95 Td (million ) Tj ET Q
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q 0 0 0 rg BT 488.81 136.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 504.38 136.95 Td (exchange ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 462.94 124.35 Td ( ) Tj ET Q
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q 0 0 0 rg BT 493.77 124.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 506.85 124.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 523.43 124.35 Td (projected ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 98.02 111.75 Td (cash ) Tj ET Q
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q 0 0 0 rg BT 270.03 111.75 Td (mutual ) Tj ET Q
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q 0 0 0 rg BT 328.58 111.75 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 369.50 111.75 Td (asset ) Tj ET Q
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q 0 0 0 rg BT 485.97 111.75 Td (value ) Tj ET Q
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q 0 0 0 rg BT 544.91 111.75 Td ( ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 115.76 99.15 Td (test, ) Tj ET Q
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q 0 0 0 rg BT 217.83 99.15 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 247.76 99.15 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 306.83 99.15 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 337.92 99.15 Td (fund ) Tj ET Q
q 0 0 0 rg BT 359.09 99.15 Td (contracts ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 447.69 86.55 Td ( ) Tj ET Q
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q 0 0 0 rg BT 491.98 86.55 Td (cash ) Tj ET Q
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q 0 0 0 rg BT 538.62 86.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 549.68 86.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 73.95 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 80.13 73.95 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 139.89 73.95 Td (mutual ) Tj ET Q
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q 0 0 0 rg BT 257.10 73.95 Td (discounted ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 478.23 729.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 501.56 729.15 Td (projections, ) Tj ET Q
q 0 0 0 rg BT 553.76 729.15 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 716.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.81 716.55 Td (discount ) Tj ET Q
q 0 0 0 rg BT 102.87 716.55 Td (rate ) Tj ET Q
q 0 0 0 rg BT 121.08 716.55 Td (would ) Tj ET Q
q 0 0 0 rg BT 149.81 716.55 Td (have ) Tj ET Q
q 0 0 0 rg BT 172.10 716.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 182.75 716.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 195.14 716.55 Td (raised ) Tj ET Q
q 0 0 0 rg BT 222.69 716.55 Td (from ) Tj ET Q
q 0 0 0 rg BT 245.58 716.55 Td (16.5% ) Tj ET Q
q 0 0 0 rg BT 275.17 716.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 285.82 716.55 Td (17.0%, ) Tj ET Q
q 0 0 0 rg BT 318.04 716.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 332.76 716.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 348.07 716.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 370.96 716.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 381.60 716.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 393.99 716.55 Td (deemed ) Tj ET Q
q 0 0 0 rg BT 429.12 716.55 Td (impaired. ) Tj ET Q
q 0 0 0 rg BT 471.54 716.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 474.02 716.55 Td (Despite ) Tj ET Q
q 0 0 0 rg BT 508.57 716.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 523.88 716.55 Td (excess ) Tj ET Q
q 0 0 0 rg BT 553.76 716.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 703.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 66.60 703.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 91.87 703.95 Td (over ) Tj ET Q
q 0 0 0 rg BT 113.06 703.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 128.42 703.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 159.52 703.95 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 197.03 703.95 Td (value, ) Tj ET Q
q 0 0 0 rg BT 224.92 703.95 Td (given ) Tj ET Q
q 0 0 0 rg BT 250.78 703.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 266.14 703.95 Td (current ) Tj ET Q
q 0 0 0 rg BT 298.41 703.95 Td (uncertainty ) Tj ET Q
q 0 0 0 rg BT 348.17 703.95 Td (regarding ) Tj ET Q
q 0 0 0 rg BT 390.93 703.95 Td (future ) Tj ET Q
q 0 0 0 rg BT 418.53 703.95 Td (market ) Tj ET Q
q 0 0 0 rg BT 450.22 703.95 Td (conditions, ) Tj ET Q
q 0 0 0 rg BT 499.12 703.95 Td (it ) Tj ET Q
q 0 0 0 rg BT 507.49 703.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 517.02 703.95 Td (reasonably ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 691.35 Td (possible ) Tj ET Q
q 0 0 0 rg BT 86.58 691.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 104.99 691.35 Td (fund ) Tj ET Q
q 0 0 0 rg BT 126.89 691.35 Td (performance, ) Tj ET Q
q 0 0 0 rg BT 185.23 691.35 Td (flows ) Tj ET Q
q 0 0 0 rg BT 211.22 691.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 228.46 691.35 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 255.62 691.35 Td (levels ) Tj ET Q
q 0 0 0 rg BT 282.78 691.35 Td (may ) Tj ET Q
q 0 0 0 rg BT 303.52 691.35 Td (decrease ) Tj ET Q
q 0 0 0 rg BT 342.31 691.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 353.14 691.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 368.63 691.35 Td (near ) Tj ET Q
q 0 0 0 rg BT 389.36 691.35 Td (term ) Tj ET Q
q 0 0 0 rg BT 411.26 691.35 Td (such ) Tj ET Q
q 0 0 0 rg BT 433.17 691.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 451.58 691.35 Td (actual ) Tj ET Q
q 0 0 0 rg BT 479.31 691.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 500.63 691.35 Td (flows ) Tj ET Q
q 0 0 0 rg BT 526.62 691.35 Td (from ) Tj ET Q
q 0 0 0 rg BT 549.69 691.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.75 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 80.73 678.75 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 141.10 678.75 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 173.49 678.75 Td (funds ) Tj ET Q
q 0 0 0 rg BT 200.06 678.75 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 241.19 678.75 Td (could ) Tj ET Q
q 0 0 0 rg BT 267.74 678.75 Td (deviate ) Tj ET Q
q 0 0 0 rg BT 301.29 678.75 Td (from ) Tj ET Q
q 0 0 0 rg BT 324.93 678.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 340.99 678.75 Td (projections ) Tj ET Q
q 0 0 0 rg BT 390.88 678.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 404.61 678.75 Td (more ) Tj ET Q
q 0 0 0 rg BT 429.41 678.75 Td (than ) Tj ET Q
q 0 0 0 rg BT 450.72 678.75 Td (3% ) Tj ET Q
q 0 0 0 rg BT 467.95 678.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 486.34 678.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 502.39 678.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 526.04 678.75 Td (could ) Tj ET Q
q 0 0 0 rg BT 552.59 678.75 Td (be ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.15 Td (deemed ) Tj ET Q
q 0 0 0 rg BT 84.77 666.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 95.57 666.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 108.10 666.15 Td (impaired ) Tj ET Q
q 0 0 0 rg BT 148.05 666.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 161.17 666.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 168.46 666.15 Td (material ) Tj ET Q
q 0 0 0 rg BT 205.48 666.15 Td (amount.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 640.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 69.44 640.95 Td (domestic ) Tj ET Q
q 0 0 0 rg BT 110.97 640.95 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 143.75 640.95 Td (fund ) Tj ET Q
q 0 0 0 rg BT 166.61 640.95 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 208.12 640.95 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 247.88 640.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 259.67 640.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 276.11 640.95 Td (Citigroup ) Tj ET Q
q 0 0 0 rg BT 319.18 640.95 Td (Asset ) Tj ET Q
q 0 0 0 rg BT 346.13 640.95 Td (Management ) Tj ET Q
q 0 0 0 rg BT 404.56 640.95 Td (\(�CAM�\) ) Tj ET Q
q 0 0 0 rg BT 448.41 640.95 Td (transaction ) Tj ET Q
q 0 0 0 rg BT 498.10 640.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 510.46 640.95 Td ($2.1 ) Tj ET Q
q 0 0 0 rg BT 532.45 640.95 Td (billion, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.35 Td (account ) Tj ET Q
q 0 0 0 rg BT 83.89 628.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 97.88 628.35 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 160.27 628.35 Td (60% ) Tj ET Q
q 0 0 0 rg BT 181.26 628.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 191.75 628.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 207.49 628.35 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 266.96 628.35 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 310.69 628.35 Td (assets. ) Tj ET Q
q 0 0 0 rg BT 339.56 628.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 340.92 628.35 Td (As ) Tj ET Q
q 0 0 0 rg BT 354.33 628.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 364.82 628.35 Td (December ) Tj ET Q
q 0 0 0 rg BT 409.70 628.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 424.57 628.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 449.94 628.35 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 512.33 628.35 Td ($560 ) Tj ET Q
q 0 0 0 rg BT 535.07 628.35 Td (billion ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.30 615.75 Td (AUM, ) Tj ET Q
q 0 0 0 rg BT 90.07 615.75 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 131.78 615.75 Td (managed ) Tj ET Q
q 0 0 0 rg BT 172.32 615.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 185.46 615.75 Td (ClearBridge ) Tj ET Q
q 0 0 0 rg BT 239.42 615.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 257.03 615.75 Td (W) Tj ET Q
q 0 0 0 rg BT 266.10 615.75 Td (estern ) Tj ET Q
q 0 0 0 rg BT 293.23 615.75 Td (Asset, ) Tj ET Q
q 0 0 0 rg BT 321.82 615.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 337.28 615.75 Td (associated ) Tj ET Q
q 0 0 0 rg BT 383.07 615.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 404.38 615.75 Td (this ) Tj ET Q
q 0 0 0 rg BT 422.19 615.75 Td (asset, ) Tj ET Q
q 0 0 0 rg BT 447.86 615.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 469.17 615.75 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 532.46 615.75 Td (53% ) Tj ET Q
q 0 0 0 rg BT 554.34 615.75 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 78.42 603.15 Td (AUM, ) Tj ET Q
q 0 0 0 rg BT 108.98 603.15 Td (41% ) Tj ET Q
q 0 0 0 rg BT 131.65 603.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 143.25 603.15 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 168.26 603.15 Td (income ) Tj ET Q
q 0 0 0 rg BT 201.84 603.15 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 229.77 603.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 248.36 603.15 Td (6% ) Tj ET Q
q 0 0 0 rg BT 265.79 603.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 277.38 603.15 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 315.64 603.15 Td (AUM. ) Tj ET Q
q 0 0 0 rg BT 346.20 603.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 348.88 603.15 Td (Although ) Tj ET Q
q 0 0 0 rg BT 391.97 603.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 409.40 603.15 Td (domestic ) Tj ET Q
q 0 0 0 rg BT 450.74 603.15 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 483.33 603.15 Td (funds ) Tj ET Q
q 0 0 0 rg BT 510.10 603.15 Td (overall ) Tj ET Q
q 0 0 0 rg BT 542.68 603.15 Td (have ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (maintained ) Tj ET Q
q 0 0 0 rg BT 99.81 590.55 Td (strong ) Tj ET Q
q 0 0 0 rg BT 129.71 590.55 Td (recent ) Tj ET Q
q 0 0 0 rg BT 159.02 590.55 Td (market ) Tj ET Q
q 0 0 0 rg BT 191.82 590.55 Td (performance, ) Tj ET Q
q 0 0 0 rg BT 251.15 590.55 Td (previously ) Tj ET Q
q 0 0 0 rg BT 299.14 590.55 Td (disclosed ) Tj ET Q
q 0 0 0 rg BT 341.87 590.55 Td (uncertainties ) Tj ET Q
q 0 0 0 rg BT 399.18 590.55 Td (regarding ) Tj ET Q
q 0 0 0 rg BT 443.06 590.55 Td (market ) Tj ET Q
q 0 0 0 rg BT 475.87 590.55 Td (conditions ) Tj ET Q
q 0 0 0 rg BT 523.28 590.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 542.09 590.55 Td (asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (flows ) Tj ET Q
q 0 0 0 rg BT 75.96 577.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 94.25 577.95 Td (risks ) Tj ET Q
q 0 0 0 rg BT 117.22 577.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 148.91 577.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 160.21 577.95 Td (potential ) Tj ET Q
q 0 0 0 rg BT 200.08 577.95 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 246.35 577.95 Td (changes ) Tj ET Q
q 0 0 0 rg BT 283.30 577.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 294.60 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 310.56 577.95 Td (liquidity ) Tj ET Q
q 0 0 0 rg BT 349.27 577.95 Td (business, ) Tj ET Q
q 0 0 0 rg BT 390.61 577.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 406.56 577.95 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 446.41 577.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 457.71 577.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 474.83 577.95 Td (projected ) Tj ET Q
q 0 0 0 rg BT 517.02 577.95 Td (discounted ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 70.30 565.35 Td (flow ) Tj ET Q
q 0 0 0 rg BT 91.69 565.35 Td (analyses. ) Tj ET Q
q 0 0 0 rg BT 132.03 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 134.17 565.35 Td (Based ) Tj ET Q
q 0 0 0 rg BT 161.97 565.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 174.61 565.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 190.75 565.35 Td (projected ) Tj ET Q
q 0 0 0 rg BT 231.96 565.35 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 279.59 565.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 300.39 565.35 Td (flow ) Tj ET Q
q 0 0 0 rg BT 321.78 565.35 Td (analyses, ) Tj ET Q
q 0 0 0 rg BT 362.12 565.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 377.09 565.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 407.79 565.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 424.50 565.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 449.39 565.35 Td (exceeded ) Tj ET Q
q 0 0 0 rg BT 490.58 565.35 Td (its ) Tj ET Q
q 0 0 0 rg BT 502.64 565.35 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 539.77 565.35 Td (value ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 62.56 552.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 69.77 552.75 Td (material ) Tj ET Q
q 0 0 0 rg BT 106.73 552.75 Td (amount. ) Tj ET Q
q 0 0 0 rg BT 143.41 552.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 145.97 552.75 Td (For ) Tj ET Q
q 0 0 0 rg BT 163.11 552.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 179.66 552.75 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 230.63 552.75 Td (test, ) Tj ET Q
q 0 0 0 rg BT 250.39 552.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 271.60 552.75 Td (flows ) Tj ET Q
q 0 0 0 rg BT 297.49 552.75 Td (from ) Tj ET Q
q 0 0 0 rg BT 320.46 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 335.85 552.75 Td (domestic ) Tj ET Q
q 0 0 0 rg BT 376.31 552.75 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 408.04 552.75 Td (fund ) Tj ET Q
q 0 0 0 rg BT 429.84 552.75 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 470.30 552.75 Td (were ) Tj ET Q
q 0 0 0 rg BT 493.25 552.75 Td (assumed ) Tj ET Q
q 0 0 0 rg BT 531.97 552.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 542.70 552.75 Td (have ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (annual ) Tj ET Q
q 0 0 0 rg BT 79.59 540.15 Td (growth ) Tj ET Q
q 0 0 0 rg BT 111.44 540.15 Td (rates ) Tj ET Q
q 0 0 0 rg BT 133.37 540.15 Td (averaging ) Tj ET Q
q 0 0 0 rg BT 176.87 540.15 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 239.62 540.15 Td (7%, ) Tj ET Q
q 0 0 0 rg BT 258.34 540.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 275.61 540.15 Td (reflect ) Tj ET Q
q 0 0 0 rg BT 304.52 540.15 Td (moderate ) Tj ET Q
q 0 0 0 rg BT 345.23 540.15 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 371.83 540.15 Td (inflows ) Tj ET Q
q 0 0 0 rg BT 405.44 540.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 415.71 540.15 Td (years ) Tj ET Q
q 0 0 0 rg BT 439.96 540.15 Td (1 ) Tj ET Q
q 0 0 0 rg BT 447.32 540.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 464.58 540.15 Td (2. ) Tj ET Q
q 0 0 0 rg BT 474.56 540.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 476.66 540.15 Td (Projected ) Tj ET Q
q 0 0 0 rg BT 518.42 540.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 539.18 540.15 Td (flows ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.87 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 76.32 527.55 Td (domestic ) Tj ET Q
q 0 0 0 rg BT 116.86 527.55 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 148.65 527.55 Td (fund ) Tj ET Q
q 0 0 0 rg BT 170.52 527.55 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 211.04 527.55 Td (were ) Tj ET Q
q 0 0 0 rg BT 234.07 527.55 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 282.19 527.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 292.39 527.55 Td (14.5%.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.97 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 75.52 502.35 Td (December ) Tj ET Q
q 0 0 0 rg BT 121.46 502.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 137.39 502.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 163.81 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 179.44 502.35 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 213.74 502.35 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 250.95 502.35 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 282.92 502.35 Td (funds ) Tj ET Q
q 0 0 0 rg BT 309.05 502.35 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 349.75 502.35 Td (asset ) Tj ET Q
q 0 0 0 rg BT 372.97 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 384.51 502.35 Td ($505 ) Tj ET Q
q 0 0 0 rg BT 408.32 502.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 441.46 502.35 Td (accounted ) Tj ET Q
q 0 0 0 rg BT 486.82 502.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 501.86 502.35 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (14% ) Tj ET Q
q 0 0 0 rg BT 71.96 489.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 83.92 489.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 101.13 489.75 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 162.08 489.75 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 207.28 489.75 Td (assets. ) Tj ET Q
q 0 0 0 rg BT 237.62 489.75 Td (Based ) Tj ET Q
q 0 0 0 rg BT 266.50 489.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 280.21 489.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 297.42 489.75 Td (projected ) Tj ET Q
q 0 0 0 rg BT 339.70 489.75 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 388.41 489.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 410.28 489.75 Td (flow ) Tj ET Q
q 0 0 0 rg BT 432.74 489.75 Td (analyses, ) Tj ET Q
q 0 0 0 rg BT 474.15 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 490.20 489.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 521.98 489.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 539.76 489.75 Td (value ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (exceeded ) Tj ET Q
q 0 0 0 rg BT 91.31 477.15 Td (its ) Tj ET Q
q 0 0 0 rg BT 103.98 477.15 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 141.72 477.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 167.21 477.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 180.46 477.15 Td (28%. ) Tj ET Q
q 0 0 0 rg BT 205.09 477.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 207.84 477.15 Td (For ) Tj ET Q
q 0 0 0 rg BT 225.18 477.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 241.93 477.15 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 293.09 477.15 Td (test, ) Tj ET Q
q 0 0 0 rg BT 313.05 477.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 334.46 477.15 Td (flows ) Tj ET Q
q 0 0 0 rg BT 360.55 477.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 383.71 477.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 399.29 477.15 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 433.54 477.15 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 470.70 477.15 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 502.62 477.15 Td (fund ) Tj ET Q
q 0 0 0 rg BT 524.62 477.15 Td (contracts ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (were ) Tj ET Q
q 0 0 0 rg BT 73.54 464.55 Td (assumed ) Tj ET Q
q 0 0 0 rg BT 113.34 464.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 125.15 464.55 Td (have ) Tj ET Q
q 0 0 0 rg BT 148.61 464.55 Td (long-term ) Tj ET Q
q 0 0 0 rg BT 193.65 464.55 Td (annual ) Tj ET Q
q 0 0 0 rg BT 225.28 464.55 Td (growth ) Tj ET Q
q 0 0 0 rg BT 258.66 464.55 Td (rates ) Tj ET Q
q 0 0 0 rg BT 282.12 464.55 Td (averaging ) Tj ET Q
q 0 0 0 rg BT 327.16 464.55 Td (approximately ) Tj ET Q
q 0 0 0 rg BT 391.45 464.55 Td (6%, ) Tj ET Q
q 0 0 0 rg BT 411.71 464.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 430.51 464.55 Td (reflect ) Tj ET Q
q 0 0 0 rg BT 460.95 464.55 Td (moderate ) Tj ET Q
q 0 0 0 rg BT 502.85 464.55 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 531.00 464.55 Td (inflows ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (throughout ) Tj ET Q
q 0 0 0 rg BT 98.71 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 114.66 451.95 Td (projection ) Tj ET Q
q 0 0 0 rg BT 160.36 451.95 Td (period. ) Tj ET Q
q 0 0 0 rg BT 192.94 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 196.07 451.95 Td (Projected ) Tj ET Q
q 0 0 0 rg BT 238.85 451.95 Td (cash ) Tj ET Q
q 0 0 0 rg BT 260.63 451.95 Td (flows ) Tj ET Q
q 0 0 0 rg BT 287.09 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 298.97 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 314.92 451.95 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 349.55 451.95 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 387.08 451.95 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 419.37 451.95 Td (fund ) Tj ET Q
q 0 0 0 rg BT 441.75 451.95 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 482.77 451.95 Td (were ) Tj ET Q
q 0 0 0 rg BT 506.30 451.95 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 554.92 451.95 Td (at ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (12.5%.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (T) Tj ET Q
q 0 0 0 rg BT 55.54 414.15 Td (rade ) Tj ET Q
q 0 0 0 rg BT 77.15 414.15 Td (names ) Tj ET Q
q 0 0 0 rg BT 107.51 414.15 Td (account ) Tj ET Q
q 0 0 0 rg BT 143.70 414.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 159.48 414.15 Td (2% ) Tj ET Q
q 0 0 0 rg BT 177.01 414.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 189.29 414.15 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 250.55 414.15 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 296.08 414.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 324.11 414.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 342.81 414.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 359.17 414.15 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 401.78 414.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 433.88 414.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 445.58 414.15 Td (EnT) Tj ET Q
q 0 0 0 rg BT 463.29 414.15 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 512.32 414.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 531.01 414.15 Td (Clarion ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (Partners, ) Tj ET Q
q 0 0 0 rg BT 89.08 401.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 117.29 401.55 Td (had ) Tj ET Q
q 0 0 0 rg BT 135.00 401.55 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 172.53 401.55 Td (values ) Tj ET Q
q 0 0 0 rg BT 201.91 401.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 213.20 401.55 Td ($29 ) Tj ET Q
q 0 0 0 rg BT 231.50 401.55 Td (million ) Tj ET Q
q 0 0 0 rg BT 264.39 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 282.10 401.55 Td ($23 ) Tj ET Q
q 0 0 0 rg BT 300.40 401.55 Td (million, ) Tj ET Q
q 0 0 0 rg BT 335.91 401.55 Td (respectively) Tj ET Q
q 0 0 0 rg BT 385.96 401.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 391.13 401.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 393.50 401.55 Td (W) Tj ET Q
q 0 0 0 rg BT 402.57 401.55 Td (e ) Tj ET Q
q 0 0 0 rg BT 409.78 401.55 Td (tested ) Tj ET Q
q 0 0 0 rg BT 436.82 401.55 Td (these ) Tj ET Q
q 0 0 0 rg BT 460.94 401.55 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 505.48 401.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 532.53 401.55 Td (using ) Tj ET Q
q 0 0 0 rg BT 557.83 401.55 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (relief ) Tj ET Q
q 0 0 0 rg BT 73.70 388.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 96.16 388.95 Td (royalty ) Tj ET Q
q 0 0 0 rg BT 127.95 388.95 Td (approach ) Tj ET Q
q 0 0 0 rg BT 168.48 388.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 185.69 388.95 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 233.23 388.95 Td (cash ) Tj ET Q
q 0 0 0 rg BT 253.94 388.95 Td (flow ) Tj ET Q
q 0 0 0 rg BT 275.23 388.95 Td (methods ) Tj ET Q
q 0 0 0 rg BT 312.86 388.95 Td (similar ) Tj ET Q
q 0 0 0 rg BT 344.08 388.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 354.29 388.95 Td (those ) Tj ET Q
q 0 0 0 rg BT 378.51 388.95 Td (described ) Tj ET Q
q 0 0 0 rg BT 420.79 388.95 Td (above ) Tj ET Q
q 0 0 0 rg BT 447.91 388.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 462.20 388.95 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 521.98 388.95 Td (contracts.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.70 363.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 74.97 363.75 Td (December ) Tj ET Q
q 0 0 0 rg BT 120.64 363.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 136.30 363.75 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 162.45 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 177.81 363.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 194.91 363.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 220.17 363.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 231.45 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 246.81 363.75 Td (combined ) Tj ET Q
q 0 0 0 rg BT 290.74 363.75 Td (EnT) Tj ET Q
q 0 0 0 rg BT 308.45 363.75 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 356.47 363.75 Td (trade ) Tj ET Q
q 0 0 0 rg BT 379.99 363.75 Td (names ) Tj ET Q
q 0 0 0 rg BT 409.34 363.75 Td (exceeded ) Tj ET Q
q 0 0 0 rg BT 450.92 363.75 Td (their ) Tj ET Q
q 0 0 0 rg BT 472.69 363.75 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 510.20 363.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 535.47 363.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 546.75 363.75 Td ($29 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (million ) Tj ET Q
q 0 0 0 rg BT 83.67 351.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 97.99 351.15 Td (1%. ) Tj ET Q
q 0 0 0 rg BT 118.44 351.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 122.00 351.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 142.15 351.15 Td (significant ) Tj ET Q
q 0 0 0 rg BT 190.30 351.15 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 246.05 351.15 Td (used ) Tj ET Q
q 0 0 0 rg BT 269.13 351.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 281.13 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 297.78 351.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 320.27 351.15 Td (flow ) Tj ET Q
q 0 0 0 rg BT 343.34 351.15 Td (analysis ) Tj ET Q
q 0 0 0 rg BT 381.00 351.15 Td (included ) Tj ET Q
q 0 0 0 rg BT 420.99 351.15 Td (projected ) Tj ET Q
q 0 0 0 rg BT 463.88 351.15 Td (annual ) Tj ET Q
q 0 0 0 rg BT 495.70 351.15 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 532.75 351.15 Td (growth ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (\(contraction\) ) Tj ET Q
q 0 0 0 rg BT 106.17 338.55 Td (rates ) Tj ET Q
q 0 0 0 rg BT 128.44 338.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 139.63 338.55 Td (\(14\)% ) Tj ET Q
q 0 0 0 rg BT 168.32 338.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 178.93 338.55 Td (6% ) Tj ET Q
q 0 0 0 rg BT 195.38 338.55 Td (\(average: ) Tj ET Q
q 0 0 0 rg BT 236.88 338.55 Td (3%\), ) Tj ET Q
q 0 0 0 rg BT 259.44 338.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 266.55 338.55 Td (royalty ) Tj ET Q
q 0 0 0 rg BT 298.74 338.55 Td (rate ) Tj ET Q
q 0 0 0 rg BT 316.92 338.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 328.11 338.55 Td (1.5%, ) Tj ET Q
q 0 0 0 rg BT 355.06 338.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 372.66 338.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 379.77 338.55 Td (discount ) Tj ET Q
q 0 0 0 rg BT 417.80 338.55 Td (rate ) Tj ET Q
q 0 0 0 rg BT 435.98 338.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 447.18 338.55 Td (14.5%. ) Tj ET Q
q 0 0 0 rg BT 479.37 338.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 481.82 338.55 Td (Future ) Tj ET Q
q 0 0 0 rg BT 511.68 338.55 Td (decreases ) Tj ET Q
q 0 0 0 rg BT 554.35 338.55 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 65.75 325.95 Td (cash ) Tj ET Q
q 0 0 0 rg BT 86.67 325.95 Td (flow ) Tj ET Q
q 0 0 0 rg BT 108.17 325.95 Td (projections ) Tj ET Q
q 0 0 0 rg BT 157.09 325.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 168.09 325.95 Td (increases ) Tj ET Q
q 0 0 0 rg BT 208.83 325.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 219.25 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 234.34 325.95 Td (discount ) Tj ET Q
q 0 0 0 rg BT 272.18 325.95 Td (rate, ) Tj ET Q
q 0 0 0 rg BT 292.80 325.95 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 331.80 325.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 354.47 325.95 Td (actual ) Tj ET Q
q 0 0 0 rg BT 381.79 325.95 Td (results, ) Tj ET Q
q 0 0 0 rg BT 414.09 325.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 425.09 325.95 Td (changes ) Tj ET Q
q 0 0 0 rg BT 461.17 325.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 471.59 325.95 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 525.77 325.95 Td (resulting ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (from ) Tj ET Q
q 0 0 0 rg BT 72.52 313.35 Td (flow ) Tj ET Q
q 0 0 0 rg BT 94.38 313.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 111.58 313.35 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 138.69 313.35 Td (levels, ) Tj ET Q
q 0 0 0 rg BT 168.42 313.35 Td (investment ) Tj ET Q
q 0 0 0 rg BT 217.11 313.35 Td (performance, ) Tj ET Q
q 0 0 0 rg BT 275.40 313.35 Td (market ) Tj ET Q
q 0 0 0 rg BT 307.17 313.35 Td (conditions, ) Tj ET Q
q 0 0 0 rg BT 356.15 313.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 367.51 313.35 Td (other ) Tj ET Q
q 0 0 0 rg BT 391.70 313.35 Td (factors, ) Tj ET Q
q 0 0 0 rg BT 425.50 313.35 Td (may ) Tj ET Q
q 0 0 0 rg BT 446.19 313.35 Td (result ) Tj ET Q
q 0 0 0 rg BT 472.14 313.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 482.92 313.35 Td (further ) Tj ET Q
q 0 0 0 rg BT 514.10 313.35 Td (impairment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 59.92 300.75 Td (this ) Tj ET Q
q 0 0 0 rg BT 76.76 300.75 Td (asset. ) Tj ET Q
q 0 0 0 rg BT 101.46 300.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 103.01 300.75 Td (There ) Tj ET Q
q 0 0 0 rg BT 129.16 300.75 Td (can ) Tj ET Q
q 0 0 0 rg BT 145.40 300.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 156.98 300.75 Td (no ) Tj ET Q
q 0 0 0 rg BT 169.15 300.75 Td (assurance ) Tj ET Q
q 0 0 0 rg BT 211.63 300.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 229.04 300.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 251.13 300.75 Td (outflows, ) Tj ET Q
q 0 0 0 rg BT 292.17 300.75 Td (market ) Tj ET Q
q 0 0 0 rg BT 322.99 300.75 Td (uncertainty) Tj ET Q
q 0 0 0 rg BT 369.54 300.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 373.84 300.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 384.25 300.75 Td (other ) Tj ET Q
q 0 0 0 rg BT 407.49 300.75 Td (factors, ) Tj ET Q
q 0 0 0 rg BT 440.36 300.75 Td (will ) Tj ET Q
q 0 0 0 rg BT 458.36 300.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 473.45 300.75 Td (produce ) Tj ET Q
q 0 0 0 rg BT 508.93 300.75 Td (an ) Tj ET Q
q 0 0 0 rg BT 520.51 300.75 Td (additional ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 100.53 288.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 111.32 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 126.78 288.15 Td (assets.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 262.95 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.56 262.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 70.62 262.95 Td (result ) Tj ET Q
q 0 0 0 rg BT 96.34 262.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 106.96 262.95 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 133.85 262.95 Td (losses ) Tj ET Q
q 0 0 0 rg BT 161.33 262.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 178.89 262.95 Td (other ) Tj ET Q
q 0 0 0 rg BT 202.86 262.95 Td (factors, ) Tj ET Q
q 0 0 0 rg BT 236.45 262.95 Td (we ) Tj ET Q
q 0 0 0 rg BT 251.08 262.95 Td (tested ) Tj ET Q
q 0 0 0 rg BT 277.97 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 293.19 262.95 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 323.59 262.95 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 383.12 262.95 Td (trade ) Tj ET Q
q 0 0 0 rg BT 406.50 262.95 Td (name ) Tj ET Q
q 0 0 0 rg BT 431.64 262.95 Td (asset ) Tj ET Q
q 0 0 0 rg BT 454.44 262.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 469.08 262.95 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 519.88 262.95 Td (during ) Tj ET Q
q 0 0 0 rg BT 549.69 262.95 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 250.35 Td (quarter ) Tj ET Q
q 0 0 0 rg BT 82.41 250.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 110.67 250.35 Td (June ) Tj ET Q
q 0 0 0 rg BT 133.10 250.35 Td (30, ) Tj ET Q
q 0 0 0 rg BT 149.41 250.35 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 176.21 250.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 179.17 250.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 198.67 250.35 Td ($5 ) Tj ET Q
q 0 0 0 rg BT 212.36 250.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 245.88 250.35 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 284.04 250.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 309.96 250.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 321.89 250.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 337.90 250.35 Td (trade ) Tj ET Q
q 0 0 0 rg BT 362.07 250.35 Td (name ) Tj ET Q
q 0 0 0 rg BT 387.99 250.35 Td (exceeded ) Tj ET Q
q 0 0 0 rg BT 430.23 250.35 Td (its ) Tj ET Q
q 0 0 0 rg BT 443.33 250.35 Td ($3 ) Tj ET Q
q 0 0 0 rg BT 457.01 250.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 490.53 250.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 508.29 250.35 Td (value, ) Tj ET Q
q 0 0 0 rg BT 536.83 250.35 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 237.75 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 84.82 237.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 95.06 237.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 101.80 237.75 Td ($2 ) Tj ET Q
q 0 0 0 rg BT 114.38 237.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 146.80 237.75 Td (impairment. ) Tj ET Q
q 0 0 0 rg BT 199.91 237.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 201.84 237.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 220.24 237.75 Td (significant ) Tj ET Q
q 0 0 0 rg BT 266.65 237.75 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 320.65 237.75 Td (used ) Tj ET Q
q 0 0 0 rg BT 341.97 237.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 352.22 237.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 367.13 237.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 387.86 237.75 Td (flow ) Tj ET Q
q 0 0 0 rg BT 409.19 237.75 Td (analysis ) Tj ET Q
q 0 0 0 rg BT 445.10 237.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 455.92 237.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 466.75 237.75 Td (June ) Tj ET Q
q 0 0 0 rg BT 488.08 237.75 Td (30, ) Tj ET Q
q 0 0 0 rg BT 503.28 237.75 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 526.36 237.75 Td (included ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 225.15 Td (average ) Tj ET Q
q 0 0 0 rg BT 84.23 225.15 Td (projected ) Tj ET Q
q 0 0 0 rg BT 125.39 225.15 Td (annual ) Tj ET Q
q 0 0 0 rg BT 155.47 225.15 Td (growth ) Tj ET Q
q 0 0 0 rg BT 187.31 225.15 Td (rates ) Tj ET Q
q 0 0 0 rg BT 209.23 225.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 220.07 225.15 Td (8%, ) Tj ET Q
q 0 0 0 rg BT 238.78 225.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 245.54 225.15 Td (royalty ) Tj ET Q
q 0 0 0 rg BT 277.37 225.15 Td (rate ) Tj ET Q
q 0 0 0 rg BT 295.20 225.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 306.04 225.15 Td (1.0% ) Tj ET Q
q 0 0 0 rg BT 330.00 225.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 347.26 225.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 354.01 225.15 Td (discount ) Tj ET Q
q 0 0 0 rg BT 391.69 225.15 Td (rate ) Tj ET Q
q 0 0 0 rg BT 409.52 225.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 420.36 225.15 Td (16.5%. ) Tj ET Q
q 0 0 0 rg BT 452.20 225.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 453.83 225.15 Td (As ) Tj ET Q
q 0 0 0 rg BT 467.59 225.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 478.43 225.15 Td (December ) Tj ET Q
q 0 0 0 rg BT 523.66 225.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 538.88 225.15 Td (2017, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 212.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.78 212.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 83.80 212.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 109.99 212.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 122.19 212.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 138.47 212.55 Td (trade ) Tj ET Q
q 0 0 0 rg BT 162.91 212.55 Td (name ) Tj ET Q
q 0 0 0 rg BT 189.10 212.55 Td (exceeded ) Tj ET Q
q 0 0 0 rg BT 231.60 212.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 247.88 212.55 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 286.32 212.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 312.51 212.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 326.46 212.55 Td (19%. ) Tj ET Q
q 0 0 0 rg BT 351.78 212.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 355.23 212.55 Td (Future ) Tj ET Q
q 0 0 0 rg BT 386.10 212.55 Td (decreases ) Tj ET Q
q 0 0 0 rg BT 429.77 212.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 441.39 212.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 458.84 212.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 480.95 212.55 Td (flow ) Tj ET Q
q 0 0 0 rg BT 503.65 212.55 Td (projections ) Tj ET Q
q 0 0 0 rg BT 553.76 212.55 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 199.95 Td (increases ) Tj ET Q
q 0 0 0 rg BT 90.31 199.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 100.81 199.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 115.97 199.95 Td (discount ) Tj ET Q
q 0 0 0 rg BT 153.89 199.95 Td (rate, ) Tj ET Q
q 0 0 0 rg BT 174.58 199.95 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 213.66 199.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 236.41 199.95 Td (actual ) Tj ET Q
q 0 0 0 rg BT 263.81 199.95 Td (results, ) Tj ET Q
q 0 0 0 rg BT 296.18 199.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 307.26 199.95 Td (changes ) Tj ET Q
q 0 0 0 rg BT 343.41 199.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 353.91 199.95 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 408.17 199.95 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 447.24 199.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 469.99 199.95 Td (flow ) Tj ET Q
q 0 0 0 rg BT 491.57 199.95 Td (and ) Tj ET Q
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q 0 0 0 rg BT 256.21 590.70 Td (internal ) Tj ET Q
q 0 0 0 rg BT 290.90 590.70 Td (audit ) Tj ET Q
q 0 0 0 rg BT 314.52 590.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 332.31 590.70 Td (other ) Tj ET Q
q 0 0 0 rg BT 356.51 590.70 Td (central ) Tj ET Q
q 0 0 0 rg BT 387.70 590.70 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 429.97 590.70 Td (functions. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.50 Td (Goodwill ) Tj ET Q
q 0 0 0 rg BT 91.13 565.50 Td (principally ) Tj ET Q
q 0 0 0 rg BT 138.58 565.50 Td (originated ) Tj ET Q
q 0 0 0 rg BT 183.11 565.50 Td (from ) Tj ET Q
q 0 0 0 rg BT 205.49 565.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 220.28 565.50 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 272.40 565.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 283.11 565.50 Td (CAM, ) Tj ET Q
q 0 0 0 rg BT 311.62 565.50 Td (Permal, ) Tj ET Q
q 0 0 0 rg BT 345.95 565.50 Td (Royce, ) Tj ET Q
q 0 0 0 rg BT 377.37 565.50 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 407.91 565.50 Td (Currie, ) Tj ET Q
q 0 0 0 rg BT 439.32 565.50 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 469.28 565.50 Td (Infrastructure, ) Tj ET Q
q 0 0 0 rg BT 531.01 565.50 Td (Clarion ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.90 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 86.62 552.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 104.50 552.90 Td (EnT) Tj ET Q
q 0 0 0 rg BT 122.21 552.90 Td (rust. ) Tj ET Q
q 0 0 0 rg BT 143.30 552.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 145.82 552.90 Td (The ) Tj ET Q
q 0 0 0 rg BT 164.86 552.90 Td (value ) Tj ET Q
q 0 0 0 rg BT 190.32 552.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 201.78 552.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 217.32 552.90 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 258.53 552.90 Td (unit ) Tj ET Q
q 0 0 0 rg BT 277.58 552.90 Td (is ) Tj ET Q
q 0 0 0 rg BT 287.30 552.90 Td (based ) Tj ET Q
q 0 0 0 rg BT 313.92 552.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 324.80 552.90 Td (part, ) Tj ET Q
q 0 0 0 rg BT 346.47 552.90 Td (on ) Tj ET Q
q 0 0 0 rg BT 359.69 552.90 Td (projected ) Tj ET Q
q 0 0 0 rg BT 401.46 552.90 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 457.25 552.90 Td (net ) Tj ET Q
q 0 0 0 rg BT 472.80 552.90 Td (cash ) Tj ET Q
q 0 0 0 rg BT 494.17 552.90 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 522.84 552.90 Td (including ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.30 Td (all ) Tj ET Q
q 0 0 0 rg BT 62.56 540.30 Td (cash ) Tj ET Q
q 0 0 0 rg BT 83.79 540.30 Td (flows ) Tj ET Q
q 0 0 0 rg BT 109.69 540.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 121.01 540.30 Td (assets ) Tj ET Q
q 0 0 0 rg BT 148.08 540.30 Td (managed ) Tj ET Q
q 0 0 0 rg BT 188.54 540.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 199.28 540.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 215.85 540.30 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 247.58 540.30 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 276.10 540.30 Td (closed-end ) Tj ET Q
q 0 0 0 rg BT 324.16 540.30 Td (funds ) Tj ET Q
q 0 0 0 rg BT 350.06 540.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 367.79 540.30 Td (other ) Tj ET Q
q 0 0 0 rg BT 391.93 540.30 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 441.15 540.30 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 469.67 540.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 480.41 540.30 Td (addition ) Tj ET Q
q 0 0 0 rg BT 517.39 540.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 528.13 540.30 Td (separate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.70 Td (account ) Tj ET Q
q 0 0 0 rg BT 84.77 527.70 Td (assets ) Tj ET Q
q 0 0 0 rg BT 111.90 527.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 123.27 527.70 Td (our ) Tj ET Q
q 0 0 0 rg BT 139.89 527.70 Td (managers. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.50 Td (Significant ) Tj ET Q
q 0 0 0 rg BT 97.70 502.50 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 151.75 502.50 Td (used ) Tj ET Q
q 0 0 0 rg BT 173.12 502.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 183.41 502.50 Td (assessing ) Tj ET Q
q 0 0 0 rg BT 224.62 502.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 239.58 502.50 Td (implied ) Tj ET Q
q 0 0 0 rg BT 273.78 502.50 Td (fair ) Tj ET Q
q 0 0 0 rg BT 290.48 502.50 Td (value ) Tj ET Q
q 0 0 0 rg BT 315.34 502.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 326.21 502.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 341.17 502.50 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 381.78 502.50 Td (unit ) Tj ET Q
q 0 0 0 rg BT 400.24 502.50 Td (under ) Tj ET Q
q 0 0 0 rg BT 426.27 502.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 441.23 502.50 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 488.84 502.50 Td (cash ) Tj ET Q
q 0 0 0 rg BT 509.63 502.50 Td (flow ) Tj ET Q
q 0 0 0 rg BT 531.00 502.50 Td (method ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.90 Td (are ) Tj ET Q
q 0 0 0 rg BT 65.07 489.90 Td (consistent ) Tj ET Q
q 0 0 0 rg BT 109.82 489.90 Td (with ) Tj ET Q
q 0 0 0 rg BT 131.23 489.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 146.81 489.90 Td (methodology ) Tj ET Q
q 0 0 0 rg BT 204.98 489.90 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 247.97 489.90 Td (above ) Tj ET Q
q 0 0 0 rg BT 275.80 489.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 290.79 489.90 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 351.27 489.90 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 396.01 489.90 Td (assets. ) Tj ET Q
q 0 0 0 rg BT 425.88 489.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 428.03 489.90 Td (Also, ) Tj ET Q
q 0 0 0 rg BT 453.24 489.90 Td (at ) Tj ET Q
q 0 0 0 rg BT 463.57 489.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 479.15 489.90 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 520.38 489.90 Td (unit ) Tj ET Q
q 0 0 0 rg BT 539.47 489.90 Td (level, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.30 Td (future ) Tj ET Q
q 0 0 0 rg BT 77.20 477.30 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 119.46 477.30 Td (costs ) Tj ET Q
q 0 0 0 rg BT 143.09 477.30 Td (are ) Tj ET Q
q 0 0 0 rg BT 158.53 477.30 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 201.40 477.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 219.18 477.30 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 274.88 477.30 Td (with ) Tj ET Q
q 0 0 0 rg BT 296.17 477.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 311.62 477.30 Td (projected ) Tj ET Q
q 0 0 0 rg BT 353.31 477.30 Td (operating ) Tj ET Q
q 0 0 0 rg BT 395.59 477.30 Td (results ) Tj ET Q
q 0 0 0 rg BT 425.63 477.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 437.00 477.30 Td (all ) Tj ET Q
q 0 0 0 rg BT 450.12 477.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 466.74 477.30 Td (af) Tj ET Q
q 0 0 0 rg BT 474.71 477.30 Td (filiates. ) Tj ET Q
q 0 0 0 rg BT 508.54 477.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 511.16 477.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 513.79 477.30 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 452.10 Td (Actual ) Tj ET Q
q 0 0 0 rg BT 80.84 452.10 Td (cash ) Tj ET Q
q 0 0 0 rg BT 102.84 452.10 Td (flows ) Tj ET Q
q 0 0 0 rg BT 129.52 452.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 141.03 452.10 Td (any ) Tj ET Q
q 0 0 0 rg BT 159.54 452.10 Td (one ) Tj ET Q
q 0 0 0 rg BT 178.05 452.10 Td (period ) Tj ET Q
q 0 0 0 rg BT 208.22 452.10 Td (may ) Tj ET Q
q 0 0 0 rg BT 229.65 452.10 Td (vary ) Tj ET Q
q 0 0 0 rg BT 251.65 452.10 Td (from ) Tj ET Q
q 0 0 0 rg BT 275.41 452.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 291.58 452.10 Td (projected ) Tj ET Q
q 0 0 0 rg BT 333.99 452.10 Td (cash ) Tj ET Q
q 0 0 0 rg BT 356.00 452.10 Td (flows ) Tj ET Q
q 0 0 0 rg BT 382.68 452.10 Td (without ) Tj ET Q
q 0 0 0 rg BT 418.11 452.10 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 458.20 452.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 469.72 452.10 Td (an ) Tj ET Q
q 0 0 0 rg BT 482.97 452.10 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 534.72 452.10 Td (char) Tj ET Q
q 0 0 0 rg BT 552.60 452.10 Td (ge ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.50 Td (because ) Tj ET Q
q 0 0 0 rg BT 85.31 439.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 92.55 439.50 Td (variance ) Tj ET Q
q 0 0 0 rg BT 130.69 439.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 141.44 439.50 Td (any ) Tj ET Q
q 0 0 0 rg BT 159.19 439.50 Td (one ) Tj ET Q
q 0 0 0 rg BT 176.93 439.50 Td (period ) Tj ET Q
q 0 0 0 rg BT 206.34 439.50 Td (must ) Tj ET Q
q 0 0 0 rg BT 229.34 439.50 Td (be ) Tj ET Q
q 0 0 0 rg BT 241.83 439.50 Td (considered ) Tj ET Q
q 0 0 0 rg BT 289.90 439.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 300.65 439.50 Td (conjunction ) Tj ET Q
q 0 0 0 rg BT 352.81 439.50 Td (with ) Tj ET Q
q 0 0 0 rg BT 374.06 439.50 Td (other ) Tj ET Q
q 0 0 0 rg BT 398.21 439.50 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 452.72 439.50 Td (that ) Tj ET Q
q 0 0 0 rg BT 471.05 439.50 Td (impact ) Tj ET Q
q 0 0 0 rg BT 502.20 439.50 Td (projected ) Tj ET Q
q 0 0 0 rg BT 543.85 439.50 Td (cash ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.90 Td (flows.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.70 Td (Discount ) Tj ET Q
q 0 0 0 rg BT 90.96 401.70 Td (rates ) Tj ET Q
q 0 0 0 rg BT 114.32 401.70 Td (are ) Tj ET Q
q 0 0 0 rg BT 130.69 401.70 Td (based ) Tj ET Q
q 0 0 0 rg BT 158.14 401.70 Td (on ) Tj ET Q
q 0 0 0 rg BT 172.18 401.70 Td (appropriately ) Tj ET Q
q 0 0 0 rg BT 231.70 401.70 Td (weighted ) Tj ET Q
q 0 0 0 rg BT 273.74 401.70 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 317.52 401.70 Td (costs ) Tj ET Q
q 0 0 0 rg BT 342.06 401.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 354.35 401.70 Td (debt ) Tj ET Q
q 0 0 0 rg BT 375.98 401.70 Td (using ) Tj ET Q
q 0 0 0 rg BT 402.27 401.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 410.48 401.70 Td (market ) Tj ET Q
q 0 0 0 rg BT 443.18 401.70 Td (participant ) Tj ET Q
q 0 0 0 rg BT 491.62 401.70 Td (perspective, ) Tj ET Q
q 0 0 0 rg BT 545.60 401.70 Td (also ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 389.10 Td (consistent ) Tj ET Q
q 0 0 0 rg BT 94.12 389.10 Td (with ) Tj ET Q
q 0 0 0 rg BT 115.41 389.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 130.87 389.10 Td (methodology ) Tj ET Q
q 0 0 0 rg BT 188.91 389.10 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 231.78 389.10 Td (above ) Tj ET Q
q 0 0 0 rg BT 259.48 389.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 274.34 389.10 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 334.69 389.10 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 379.31 389.10 Td (assets.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.90 Td (W) Tj ET Q
q 0 0 0 rg BT 58.57 363.90 Td (e ) Tj ET Q
q 0 0 0 rg BT 65.65 363.90 Td (also ) Tj ET Q
q 0 0 0 rg BT 84.98 363.90 Td (perform ) Tj ET Q
q 0 0 0 rg BT 121.22 363.90 Td (a ) Tj ET Q
q 0 0 0 rg BT 128.30 363.90 Td (market-based ) Tj ET Q
q 0 0 0 rg BT 187.27 363.90 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 228.77 363.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 239.93 363.90 Td (our ) Tj ET Q
q 0 0 0 rg BT 256.35 363.90 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 297.25 363.90 Td (unit ) Tj ET Q
q 0 0 0 rg BT 316.01 363.90 Td (value, ) Tj ET Q
q 0 0 0 rg BT 343.79 363.90 Td (which ) Tj ET Q
q 0 0 0 rg BT 371.87 363.90 Td (applies ) Tj ET Q
q 0 0 0 rg BT 404.03 363.90 Td (an ) Tj ET Q
q 0 0 0 rg BT 416.36 363.90 Td (average ) Tj ET Q
q 0 0 0 rg BT 451.42 363.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 462.58 363.90 Td (EBITDA) Tj ET Q
q 0 0 0 rg BT 500.50 363.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 502.91 363.90 Td (multiples ) Tj ET Q
q 0 0 0 rg BT 544.42 363.90 Td (paid ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 61.02 351.30 Td (change ) Tj ET Q
q 0 0 0 rg BT 94.10 351.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 106.19 351.30 Td (control ) Tj ET Q
q 0 0 0 rg BT 139.28 351.30 Td (transactions ) Tj ET Q
q 0 0 0 rg BT 192.79 351.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 208.38 351.30 Td (peer ) Tj ET Q
q 0 0 0 rg BT 229.80 351.30 Td (companies ) Tj ET Q
q 0 0 0 rg BT 278.05 351.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 289.57 351.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 306.91 351.30 Td (EBITDA. ) Tj ET Q
q 0 0 0 rg BT 351.38 351.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 354.49 351.30 Td (The ) Tj ET Q
q 0 0 0 rg BT 374.16 351.30 Td (results ) Tj ET Q
q 0 0 0 rg BT 404.93 351.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 417.02 351.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 434.37 351.30 Td (two ) Tj ET Q
q 0 0 0 rg BT 453.47 351.30 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 495.89 351.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 507.99 351.30 Td (value ) Tj ET Q
q 0 0 0 rg BT 534.07 351.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 549.67 351.30 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.70 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 90.80 338.70 Td (unit ) Tj ET Q
q 0 0 0 rg BT 109.95 338.70 Td (\(the ) Tj ET Q
q 0 0 0 rg BT 129.09 338.70 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 177.40 338.70 Td (cash ) Tj ET Q
q 0 0 0 rg BT 198.87 338.70 Td (flow ) Tj ET Q
q 0 0 0 rg BT 220.94 338.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 238.91 338.70 Td (EBITDA) Tj ET Q
q 0 0 0 rg BT 276.83 338.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 279.64 338.70 Td (multiple ) Tj ET Q
q 0 0 0 rg BT 317.45 338.70 Td (analyses\) ) Tj ET Q
q 0 0 0 rg BT 359.34 338.70 Td (are ) Tj ET Q
q 0 0 0 rg BT 374.97 338.70 Td (compared ) Tj ET Q
q 0 0 0 rg BT 419.18 338.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 437.16 338.70 Td (significant ) Tj ET Q
q 0 0 0 rg BT 484.30 338.70 Td (dif) Tj ET Q
q 0 0 0 rg BT 495.77 338.70 Td (ferences, ) Tj ET Q
q 0 0 0 rg BT 536.18 338.70 Td (if ) Tj ET Q
q 0 0 0 rg BT 545.41 338.70 Td (any) Tj ET Q
q 0 0 0 rg BT 559.89 338.70 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 326.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 64.87 326.10 Td (assessed ) Tj ET Q
q 0 0 0 rg BT 103.01 326.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 113.73 326.10 Td (determine ) Tj ET Q
q 0 0 0 rg BT 158.27 326.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 173.65 326.10 Td (reasonableness ) Tj ET Q
q 0 0 0 rg BT 239.18 326.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 250.48 326.10 Td (each ) Tj ET Q
q 0 0 0 rg BT 272.27 326.10 Td (value ) Tj ET Q
q 0 0 0 rg BT 297.57 326.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 315.28 326.10 Td (whether ) Tj ET Q
q 0 0 0 rg BT 351.66 326.10 Td (any ) Tj ET Q
q 0 0 0 rg BT 369.37 326.10 Td (adjustment ) Tj ET Q
q 0 0 0 rg BT 418.01 326.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 428.73 326.10 Td (either ) Tj ET Q
q 0 0 0 rg BT 455.19 326.10 Td (result ) Tj ET Q
q 0 0 0 rg BT 481.07 326.10 Td (is ) Tj ET Q
q 0 0 0 rg BT 490.63 326.10 Td (warranted. ) Tj ET Q
q 0 0 0 rg BT 537.79 326.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 540.34 326.10 Td (Once ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.05 313.50 Td (values ) Tj ET Q
q 0 0 0 rg BT 94.59 313.50 Td (are ) Tj ET Q
q 0 0 0 rg BT 110.13 313.50 Td (accepted, ) Tj ET Q
q 0 0 0 rg BT 152.19 313.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 167.74 313.50 Td (appropriately ) Tj ET Q
q 0 0 0 rg BT 226.44 313.50 Td (weighted ) Tj ET Q
q 0 0 0 rg BT 267.64 313.50 Td (average ) Tj ET Q
q 0 0 0 rg BT 303.00 313.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 314.47 313.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 330.01 313.50 Td (two ) Tj ET Q
q 0 0 0 rg BT 348.48 313.50 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 389.69 313.50 Td (unit ) Tj ET Q
q 0 0 0 rg BT 408.74 313.50 Td (valuations ) Tj ET Q
q 0 0 0 rg BT 454.62 313.50 Td (\(the ) Tj ET Q
q 0 0 0 rg BT 473.67 313.50 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 521.88 313.50 Td (cash ) Tj ET Q
q 0 0 0 rg BT 543.25 313.50 Td (flow ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.24 300.90 Td (EBITDA) Tj ET Q
q 0 0 0 rg BT 105.16 300.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 107.74 300.90 Td (multiple ) Tj ET Q
q 0 0 0 rg BT 145.32 300.90 Td (analyses\) ) Tj ET Q
q 0 0 0 rg BT 186.97 300.90 Td (is ) Tj ET Q
q 0 0 0 rg BT 196.55 300.90 Td (used ) Tj ET Q
q 0 0 0 rg BT 218.38 300.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 229.71 300.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 245.12 300.90 Td (implied ) Tj ET Q
q 0 0 0 rg BT 279.78 300.90 Td (fair ) Tj ET Q
q 0 0 0 rg BT 296.94 300.90 Td (value ) Tj ET Q
q 0 0 0 rg BT 322.26 300.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 333.58 300.90 Td (our ) Tj ET Q
q 0 0 0 rg BT 350.16 300.90 Td (Global ) Tj ET Q
q 0 0 0 rg BT 380.75 300.90 Td (Asset ) Tj ET Q
q 0 0 0 rg BT 406.67 300.90 Td (Management ) Tj ET Q
q 0 0 0 rg BT 464.06 300.90 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 505.13 300.90 Td (unit, ) Tj ET Q
q 0 0 0 rg BT 526.68 300.90 Td (which ) Tj ET Q
q 0 0 0 rg BT 554.92 300.90 Td (at ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.30 Td (December ) Tj ET Q
q 0 0 0 rg BT 95.59 288.30 Td (31, ) Tj ET Q
q 0 0 0 rg BT 111.67 288.30 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 138.25 288.30 Td (exceeded ) Tj ET Q
q 0 0 0 rg BT 180.26 288.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 196.04 288.30 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 233.98 288.30 Td (value ) Tj ET Q
q 0 0 0 rg BT 259.67 288.30 Td (by ) Tj ET Q
q 0 0 0 rg BT 273.13 288.30 Td (30%. ) Tj ET Q
q 0 0 0 rg BT 297.95 288.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 300.91 288.30 Td (Considering ) Tj ET Q
q 0 0 0 rg BT 355.20 288.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 370.98 288.30 Td (relative ) Tj ET Q
q 0 0 0 rg BT 405.41 288.30 Td (merits ) Tj ET Q
q 0 0 0 rg BT 434.61 288.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 446.32 288.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 462.10 288.30 Td (details ) Tj ET Q
q 0 0 0 rg BT 492.46 288.30 Td (involved ) Tj ET Q
q 0 0 0 rg BT 532.16 288.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 543.29 288.30 Td (each ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 420.70 716.55 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 462.42 716.55 Td (unit ) Tj ET Q
q 0 0 0 rg BT 481.99 716.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 507.96 716.55 Td (estimation ) Tj ET Q
q 0 0 0 rg BT 554.94 716.55 Td (at ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 703.95 Td (December ) Tj ET Q
q 0 0 0 rg BT 95.26 703.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 111.01 703.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 137.26 703.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 146.89 703.95 Td (reasonable ) Tj ET Q
q 0 0 0 rg BT 194.41 703.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 205.20 703.95 Td (relation ) Tj ET Q
q 0 0 0 rg BT 239.90 703.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 250.69 703.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 266.15 703.95 Td (observed ) Tj ET Q
q 0 0 0 rg BT 306.67 703.95 Td (relevant ) Tj ET Q
q 0 0 0 rg BT 343.11 703.95 Td (market ) Tj ET Q
q 0 0 0 rg BT 374.89 703.95 Td (control ) Tj ET Q
q 0 0 0 rg BT 407.26 703.95 Td (premium ) Tj ET Q
q 0 0 0 rg BT 447.79 703.95 Td (values.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.75 Td (Contingent Consideration Liabilities) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.15 Td (In ) Tj ET Q
q 0 0 0 rg BT 59.93 666.15 Td (connection ) Tj ET Q
q 0 0 0 rg BT 107.69 666.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 128.04 666.15 Td (business ) Tj ET Q
q 0 0 0 rg BT 165.32 666.15 Td (acquisitions, ) Tj ET Q
q 0 0 0 rg BT 219.79 666.15 Td (we ) Tj ET Q
q 0 0 0 rg BT 233.72 666.15 Td (may ) Tj ET Q
q 0 0 0 rg BT 253.49 666.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 265.09 666.15 Td (required ) Tj ET Q
q 0 0 0 rg BT 301.76 666.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 311.61 666.15 Td (pay ) Tj ET Q
q 0 0 0 rg BT 328.46 666.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 372.14 666.15 Td (future ) Tj ET Q
q 0 0 0 rg BT 398.89 666.15 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 457.15 666.15 Td (based ) Tj ET Q
q 0 0 0 rg BT 482.74 666.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 494.93 666.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 509.45 666.15 Td (achievement ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 653.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.43 653.55 Td (certain ) Tj ET Q
q 0 0 0 rg BT 91.18 653.55 Td (designated ) Tj ET Q
q 0 0 0 rg BT 138.27 653.55 Td (financial ) Tj ET Q
q 0 0 0 rg BT 177.19 653.55 Td (metrics. ) Tj ET Q
q 0 0 0 rg BT 212.90 653.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 214.93 653.55 Td (W) Tj ET Q
q 0 0 0 rg BT 224.00 653.55 Td (e ) Tj ET Q
q 0 0 0 rg BT 230.85 653.55 Td (estimate ) Tj ET Q
q 0 0 0 rg BT 268.02 653.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 283.04 653.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 299.79 653.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 324.72 653.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 335.65 653.55 Td (these ) Tj ET Q
q 0 0 0 rg BT 359.41 653.55 Td (potential ) Tj ET Q
q 0 0 0 rg BT 398.34 653.55 Td (future ) Tj ET Q
q 0 0 0 rg BT 425.59 653.55 Td (obligations ) Tj ET Q
q 0 0 0 rg BT 474.45 653.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 484.21 653.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 499.22 653.55 Td (time ) Tj ET Q
q 0 0 0 rg BT 520.07 653.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 526.92 653.55 Td (business ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 640.95 Td (combination ) Tj ET Q
q 0 0 0 rg BT 104.68 640.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 114.38 640.95 Td (consummated ) Tj ET Q
q 0 0 0 rg BT 175.39 640.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 193.25 640.95 Td (record ) Tj ET Q
q 0 0 0 rg BT 222.76 640.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 230.11 640.95 Td (Contingent ) Tj ET Q
q 0 0 0 rg BT 279.47 640.95 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 338.73 640.95 Td (liability ) Tj ET Q
q 0 0 0 rg BT 374.09 640.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 384.95 640.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 400.47 640.95 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 458.57 640.95 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 495.08 640.95 Td (Sheet. ) Tj ET Q
q 0 0 0 rg BT 523.73 640.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 526.42 640.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 528.92 640.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 547.94 640.95 Td (fair ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.35 Td (values ) Tj ET Q
q 0 0 0 rg BT 78.81 628.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 90.04 628.35 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 136.85 628.35 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 195.90 628.35 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 237.46 628.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 252.76 628.35 Td (revised ) Tj ET Q
q 0 0 0 rg BT 285.57 628.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 296.80 628.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 308.03 628.35 Td (each ) Tj ET Q
q 0 0 0 rg BT 329.75 628.35 Td (quarterly ) Tj ET Q
q 0 0 0 rg BT 370.13 628.35 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 411.10 628.35 Td (date. ) Tj ET Q
q 0 0 0 rg BT 433.70 628.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 435.64 628.35 Td (As ) Tj ET Q
q 0 0 0 rg BT 449.79 628.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 461.02 628.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 490.91 628.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 506.52 628.35 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 532.63 628.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 547.94 628.35 Td (fair ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.75 Td (values ) Tj ET Q
q 0 0 0 rg BT 78.28 615.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 88.98 615.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 104.93 615.75 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 151.21 615.75 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 209.73 615.75 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 250.77 615.75 Td (aggregate ) Tj ET Q
q 0 0 0 rg BT 293.53 615.75 Td ($5.6 ) Tj ET Q
q 0 0 0 rg BT 313.86 615.75 Td (million, ) Tj ET Q
q 0 0 0 rg BT 348.77 615.75 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 389.80 615.75 Td (relating ) Tj ET Q
q 0 0 0 rg BT 423.83 615.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 433.95 615.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 449.90 615.75 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 497.93 615.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 508.63 615.75 Td (QS ) Tj ET Q
q 0 0 0 rg BT 524.01 615.75 Td (Investors ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 60.87 603.15 Td (no ) Tj ET Q
q 0 0 0 rg BT 74.00 603.15 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 120.95 603.15 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 180.14 603.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 189.77 603.15 Td (expected ) Tj ET Q
q 0 0 0 rg BT 229.70 603.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 240.49 603.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 253.03 603.15 Td (due ) Tj ET Q
q 0 0 0 rg BT 270.82 603.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 302.00 603.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 312.80 603.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 329.42 603.15 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 378.12 603.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 389.49 603.15 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 420.12 603.15 Td (Infrastructure. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 580.55 Td (W) Tj ET Q
q 0 0 0 rg BT 58.57 580.55 Td (e ) Tj ET Q
q 0 0 0 rg BT 67.15 580.55 Td (estimate ) Tj ET Q
q 0 0 0 rg BT 106.06 580.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 122.81 580.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 141.30 580.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 167.96 580.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 180.63 580.55 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 228.87 580.55 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 289.36 580.55 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 332.36 580.55 Td (using ) Tj ET Q
q 0 0 0 rg BT 359.04 580.55 Td (probability-weighted ) Tj ET Q
q 0 0 0 rg BT 451.02 580.55 Td (modeling ) Tj ET Q
q 0 0 0 rg BT 494.61 580.55 Td (specific ) Tj ET Q
q 0 0 0 rg BT 531.18 580.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 543.26 580.55 Td (each ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 567.95 Td (business ) Tj ET Q
q 0 0 0 rg BT 87.74 567.95 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 136.47 567.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 154.28 567.95 Td (its ) Tj ET Q
q 0 0 0 rg BT 166.85 567.95 Td (arrangement ) Tj ET Q
q 0 0 0 rg BT 221.97 567.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 236.87 567.95 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 283.84 567.95 Td (consideration. ) Tj ET Q
q 0 0 0 rg BT 345.68 567.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 348.33 567.95 Td (Estimated ) Tj ET Q
q 0 0 0 rg BT 392.98 567.95 Td (payments ) Tj ET Q
q 0 0 0 rg BT 435.87 567.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 451.34 567.95 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 499.48 567.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 510.30 567.95 Td (their ) Tj ET Q
q 0 0 0 rg BT 532.19 567.95 Td (present ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 555.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 74.86 555.35 Td (at ) Tj ET Q
q 0 0 0 rg BT 85.07 555.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 100.52 555.35 Td (measurement ) Tj ET Q
q 0 0 0 rg BT 159.12 555.35 Td (date.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 532.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 67.80 532.75 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 97.77 532.75 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 156.88 532.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 174.01 532.75 Td (QS ) Tj ET Q
q 0 0 0 rg BT 189.40 532.75 Td (Investors ) Tj ET Q
q 0 0 0 rg BT 229.87 532.75 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 269.16 532.75 Td (agreements ) Tj ET Q
q 0 0 0 rg BT 318.94 532.75 Td (require ) Tj ET Q
q 0 0 0 rg BT 350.64 532.75 Td (us ) Tj ET Q
q 0 0 0 rg BT 361.95 532.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 372.09 532.75 Td (potentially ) Tj ET Q
q 0 0 0 rg BT 418.97 532.75 Td (pay ) Tj ET Q
q 0 0 0 rg BT 436.10 532.75 Td (additional ) Tj ET Q
q 0 0 0 rg BT 480.06 532.75 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 538.60 532.75 Td (based ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 520.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 62.31 520.15 Td (whether ) Tj ET Q
q 0 0 0 rg BT 98.44 520.15 Td (certain ) Tj ET Q
q 0 0 0 rg BT 129.31 520.15 Td (future ) Tj ET Q
q 0 0 0 rg BT 156.69 520.15 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 192.22 520.15 Td (thresholds ) Tj ET Q
q 0 0 0 rg BT 237.70 520.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 252.82 520.15 Td (achieved. ) Tj ET Q
q 0 0 0 rg BT 295.07 520.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 297.38 520.15 Td (Significant ) Tj ET Q
q 0 0 0 rg BT 345.76 520.15 Td (increases ) Tj ET Q
q 0 0 0 rg BT 386.55 520.15 Td (\(decreases\) ) Tj ET Q
q 0 0 0 rg BT 436.08 520.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 446.55 520.15 Td (projected ) Tj ET Q
q 0 0 0 rg BT 487.92 520.15 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 523.46 520.15 Td (levels ) Tj ET Q
q 0 0 0 rg BT 550.26 520.15 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 507.55 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 80.70 507.55 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 141.03 507.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 159.38 507.55 Td (QS ) Tj ET Q
q 0 0 0 rg BT 176.00 507.55 Td (Investors ) Tj ET Q
q 0 0 0 rg BT 217.68 507.55 Td (would ) Tj ET Q
q 0 0 0 rg BT 247.13 507.55 Td (result ) Tj ET Q
q 0 0 0 rg BT 273.65 507.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 285.01 507.55 Td (significantly ) Tj ET Q
q 0 0 0 rg BT 340.69 507.55 Td (higher ) Tj ET Q
q 0 0 0 rg BT 370.71 507.55 Td (\(lower\) ) Tj ET Q
q 0 0 0 rg BT 404.80 507.55 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 452.32 507.55 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 512.08 507.55 Td (liability ) Tj ET Q
q 0 0 0 rg BT 547.94 507.55 Td (fair ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 494.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 75.73 494.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 94.38 494.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 110.69 494.95 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 150.93 494.95 Td (changes ) Tj ET Q
q 0 0 0 rg BT 188.24 494.95 Td (could ) Tj ET Q
q 0 0 0 rg BT 215.05 494.95 Td (be ) Tj ET Q
q 0 0 0 rg BT 228.45 494.95 Td (material ) Tj ET Q
q 0 0 0 rg BT 266.34 494.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 278.00 494.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 295.48 494.95 Td (operating ) Tj ET Q
q 0 0 0 rg BT 338.62 494.95 Td (results. ) Tj ET Q
q 0 0 0 rg BT 372.15 494.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 375.39 494.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 395.20 494.95 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 427.27 494.95 Td (Currie ) Tj ET Q
q 0 0 0 rg BT 457.58 494.95 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 498.39 494.95 Td (agreement ) Tj ET Q
q 0 0 0 rg BT 545.60 494.95 Td (also ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 482.35 Td (required ) Tj ET Q
q 0 0 0 rg BT 86.79 482.35 Td (us ) Tj ET Q
q 0 0 0 rg BT 98.43 482.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 108.91 482.35 Td (potentially ) Tj ET Q
q 0 0 0 rg BT 156.12 482.35 Td (pay ) Tj ET Q
q 0 0 0 rg BT 173.59 482.35 Td (additional ) Tj ET Q
q 0 0 0 rg BT 217.89 482.35 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 276.76 482.35 Td (based ) Tj ET Q
q 0 0 0 rg BT 302.98 482.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 315.79 482.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 330.92 482.35 Td (achievement ) Tj ET Q
q 0 0 0 rg BT 386.28 482.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 397.34 482.35 Td (certain ) Tj ET Q
q 0 0 0 rg BT 428.21 482.35 Td (financial ) Tj ET Q
q 0 0 0 rg BT 467.25 482.35 Td (metrics, ) Tj ET Q
q 0 0 0 rg BT 503.08 482.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 514.14 482.35 Td (specified ) Tj ET Q
q 0 0 0 rg BT 554.35 482.35 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 469.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.24 469.75 Td (share ) Tj ET Q
q 0 0 0 rg BT 90.30 469.75 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 130.53 469.75 Td (agreement, ) Tj ET Q
q 0 0 0 rg BT 179.79 469.75 Td (at ) Tj ET Q
q 0 0 0 rg BT 190.28 469.75 Td (certain ) Tj ET Q
q 0 0 0 rg BT 221.75 469.75 Td (dates ) Tj ET Q
q 0 0 0 rg BT 246.24 469.75 Td (over ) Tj ET Q
q 0 0 0 rg BT 267.81 469.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 283.54 469.75 Td (three ) Tj ET Q
q 0 0 0 rg BT 307.44 469.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 325.51 469.75 Td (one-half ) Tj ET Q
q 0 0 0 rg BT 363.40 469.75 Td (year ) Tj ET Q
q 0 0 0 rg BT 384.38 469.75 Td (earn-out ) Tj ET Q
q 0 0 0 rg BT 422.28 469.75 Td (term, ) Tj ET Q
q 0 0 0 rg BT 447.05 469.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 475.63 469.75 Td (concluded ) Tj ET Q
q 0 0 0 rg BT 521.69 469.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 535.10 469.75 Td (March ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 457.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 65.88 457.15 Td (2018. ) Tj ET Q
q 0 0 0 rg BT 92.77 457.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 96.03 457.15 Td (No ) Tj ET Q
q 0 0 0 rg BT 112.12 457.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 157.37 457.15 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 217.20 457.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 236.79 457.15 Td (due ) Tj ET Q
q 0 0 0 rg BT 255.21 457.15 Td (based ) Tj ET Q
q 0 0 0 rg BT 282.37 457.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 296.13 457.15 Td (relevant ) Tj ET Q
q 0 0 0 rg BT 333.21 457.15 Td (financial ) Tj ET Q
q 0 0 0 rg BT 373.20 457.15 Td (metrics. ) Tj ET Q
q 0 0 0 rg BT 409.99 457.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 413.25 457.15 Td (Our ) Tj ET Q
q 0 0 0 rg BT 432.83 457.15 Td (modeling ) Tj ET Q
q 0 0 0 rg BT 475.76 457.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 487.76 457.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 503.85 457.15 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 535.69 457.15 Td (Currie ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 444.55 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 95.72 444.55 Td (payment ) Tj ET Q
q 0 0 0 rg BT 133.78 444.55 Td (arrangement ) Tj ET Q
q 0 0 0 rg BT 188.15 444.55 Td (prior ) Tj ET Q
q 0 0 0 rg BT 210.46 444.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 220.53 444.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 249.84 444.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 264.86 444.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 290.39 444.55 Td (included ) Tj ET Q
q 0 0 0 rg BT 328.45 444.55 Td (Monte ) Tj ET Q
q 0 0 0 rg BT 357.76 444.55 Td (Carlo ) Tj ET Q
q 0 0 0 rg BT 382.99 444.55 Td (simulation ) Tj ET Q
q 0 0 0 rg BT 429.23 444.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 439.87 444.55 Td (projected ) Tj ET Q
q 0 0 0 rg BT 480.42 444.55 Td (AUM, ) Tj ET Q
q 0 0 0 rg BT 509.45 444.55 Td (performance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 431.95 Td (fees ) Tj ET Q
q 0 0 0 rg BT 69.03 431.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 86.81 431.95 Td (product ) Tj ET Q
q 0 0 0 rg BT 121.51 431.95 Td (performance ) Tj ET Q
q 0 0 0 rg BT 177.19 431.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 187.98 431.95 Td (determine ) Tj ET Q
q 0 0 0 rg BT 232.59 431.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 248.04 431.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 279.23 431.95 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 322.09 431.95 Td (payment ) Tj ET Q
q 0 0 0 rg BT 360.87 431.95 Td (amounts. ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 406.75 Td (Stock-Based Compensation) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 394.15 Td (Our ) Tj ET Q
q 0 0 0 rg BT 68.87 394.15 Td (stock-based ) Tj ET Q
q 0 0 0 rg BT 121.47 394.15 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 182.83 394.15 Td (plans ) Tj ET Q
q 0 0 0 rg BT 208.03 394.15 Td (include ) Tj ET Q
q 0 0 0 rg BT 241.98 394.15 Td (stock ) Tj ET Q
q 0 0 0 rg BT 267.18 394.15 Td (options, ) Tj ET Q
q 0 0 0 rg BT 303.76 394.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 316.71 394.15 Td (employee ) Tj ET Q
q 0 0 0 rg BT 360.57 394.15 Td (stock ) Tj ET Q
q 0 0 0 rg BT 385.77 394.15 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 426.12 394.15 Td (plan, ) Tj ET Q
q 0 0 0 rg BT 449.86 394.15 Td (market-based ) Tj ET Q
q 0 0 0 rg BT 509.46 394.15 Td (performance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 381.55 Td (shares ) Tj ET Q
q 0 0 0 rg BT 80.45 381.55 Td (payable ) Tj ET Q
q 0 0 0 rg BT 117.80 381.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 130.68 381.55 Td (common ) Tj ET Q
q 0 0 0 rg BT 172.13 381.55 Td (stock, ) Tj ET Q
q 0 0 0 rg BT 201.62 381.55 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 245.39 381.55 Td (stock ) Tj ET Q
q 0 0 0 rg BT 272.26 381.55 Td (awards ) Tj ET Q
q 0 0 0 rg BT 306.71 381.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 326.57 381.55 Td (units, ) Tj ET Q
q 0 0 0 rg BT 354.33 381.55 Td (af) Tj ET Q
q 0 0 0 rg BT 362.29 381.55 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 391.49 381.55 Td (management ) Tj ET Q
q 0 0 0 rg BT 449.84 381.55 Td (equity ) Tj ET Q
q 0 0 0 rg BT 480.79 381.55 Td (plans ) Tj ET Q
q 0 0 0 rg BT 507.66 381.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 527.53 381.55 Td (deferred ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 368.95 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 110.15 368.95 Td (payable ) Tj ET Q
q 0 0 0 rg BT 145.14 368.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 155.64 368.95 Td (stock. ) Tj ET Q
q 0 0 0 rg BT 182.76 368.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 185.09 368.95 Td (Under ) Tj ET Q
q 0 0 0 rg BT 213.67 368.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 230.00 368.95 Td (stock ) Tj ET Q
q 0 0 0 rg BT 254.49 368.95 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 315.15 368.95 Td (plans, ) Tj ET Q
q 0 0 0 rg BT 342.27 368.95 Td (we ) Tj ET Q
q 0 0 0 rg BT 356.85 368.95 Td (issue ) Tj ET Q
q 0 0 0 rg BT 380.18 368.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 408.76 368.95 Td (awards ) Tj ET Q
q 0 0 0 rg BT 440.83 368.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 451.33 368.95 Td (directors, ) Tj ET Q
q 0 0 0 rg BT 493.02 368.95 Td (of) Tj ET Q
q 0 0 0 rg BT 501.58 368.95 Td (ficers, ) Tj ET Q
q 0 0 0 rg BT 529.86 368.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 547.35 368.95 Td (key ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 356.35 Td (employees.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 331.15 Td (In ) Tj ET Q
q 0 0 0 rg BT 60.82 331.15 Td (accordance ) Tj ET Q
q 0 0 0 rg BT 110.61 331.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 131.85 331.15 Td (applicable ) Tj ET Q
q 0 0 0 rg BT 177.57 331.15 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 226.22 331.15 Td (guidance, ) Tj ET Q
q 0 0 0 rg BT 269.32 331.15 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 330.22 331.15 Td (expense ) Tj ET Q
q 0 0 0 rg BT 366.61 331.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 381.43 331.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 396.83 331.15 Td (years ) Tj ET Q
q 0 0 0 rg BT 421.56 331.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 449.21 331.15 Td (March�31, ) Tj ET Q
q 0 0 0 rg BT 494.94 331.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 521.14 331.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 547.34 331.15 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 318.55 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 76.32 318.55 Td (includes ) Tj ET Q
q 0 0 0 rg BT 114.52 318.55 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 176.04 318.55 Td (cost ) Tj ET Q
q 0 0 0 rg BT 196.15 318.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 211.59 318.55 Td (all ) Tj ET Q
q 0 0 0 rg BT 225.29 318.55 Td (non-vested ) Tj ET Q
q 0 0 0 rg BT 274.56 318.55 Td (share-based ) Tj ET Q
q 0 0 0 rg BT 327.32 318.55 Td (awards ) Tj ET Q
q 0 0 0 rg BT 360.25 318.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 371.03 318.55 Td (their ) Tj ET Q
q 0 0 0 rg BT 393.47 318.55 Td (grant ) Tj ET Q
q 0 0 0 rg BT 418.25 318.55 Td (date ) Tj ET Q
q 0 0 0 rg BT 438.93 318.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 456.70 318.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 482.64 318.55 Td (amortized ) Tj ET Q
q 0 0 0 rg BT 527.82 318.55 Td (over ) Tj ET Q
q 0 0 0 rg BT 549.68 318.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 305.95 Td (respective ) Tj ET Q
q 0 0 0 rg BT 94.69 305.95 Td (vesting ) Tj ET Q
q 0 0 0 rg BT 127.65 305.95 Td (periods, ) Tj ET Q
q 0 0 0 rg BT 163.81 305.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 192.10 305.95 Td (may ) Tj ET Q
q 0 0 0 rg BT 212.81 305.95 Td (be ) Tj ET Q
q 0 0 0 rg BT 225.34 305.95 Td (reduced ) Tj ET Q
q 0 0 0 rg BT 261.20 305.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 276.07 305.95 Td (retirement-eligible ) Tj ET Q
q 0 0 0 rg BT 356.83 305.95 Td (recipients, ) Tj ET Q
q 0 0 0 rg BT 402.90 305.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 416.03 305.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 431.48 305.95 Td (straight-line ) Tj ET Q
q 0 0 0 rg BT 484.85 305.95 Td (method. ) Tj ET Q
q 0 0 0 rg BT 521.60 305.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 524.22 305.95 Td (Ef) Tj ET Q
q 0 0 0 rg BT 533.95 305.95 Td (fective ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 293.35 Td (April ) Tj ET Q
q 0 0 0 rg BT 74.49 293.35 Td (1, ) Tj ET Q
q 0 0 0 rg BT 85.18 293.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 111.63 293.35 Td (we ) Tj ET Q
q 0 0 0 rg BT 126.69 293.35 Td (adopted ) Tj ET Q
q 0 0 0 rg BT 162.75 293.35 Td (updated ) Tj ET Q
q 0 0 0 rg BT 198.81 293.35 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 247.70 293.35 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 288.42 293.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 301.74 293.35 Td (stock-based ) Tj ET Q
q 0 0 0 rg BT 354.13 293.35 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 415.28 293.35 Td (accounting. ) Tj ET Q
q 0 0 0 rg BT 466.79 293.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 469.41 293.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 488.55 293.35 Td (updated ) Tj ET Q
q 0 0 0 rg BT 524.61 293.35 Td (guidance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 280.75 Td (simplifies ) Tj ET Q
q 0 0 0 rg BT 93.13 280.75 Td (several ) Tj ET Q
q 0 0 0 rg BT 125.08 280.75 Td (aspects ) Tj ET Q
q 0 0 0 rg BT 157.62 280.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 168.59 280.75 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 216.87 280.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 231.33 280.75 Td (stock-based ) Tj ET Q
q 0 0 0 rg BT 283.12 280.75 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 343.66 280.75 Td (including ) Tj ET Q
q 0 0 0 rg BT 385.54 280.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 400.58 280.75 Td (income ) Tj ET Q
q 0 0 0 rg BT 433.71 280.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 448.75 280.75 Td (consequences, ) Tj ET Q
q 0 0 0 rg BT 511.32 280.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 528.70 280.75 Td (clarifies ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 268.15 Td (classification ) Tj ET Q
q 0 0 0 rg BT 107.14 268.15 Td (criteria ) Tj ET Q
q 0 0 0 rg BT 139.11 268.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 153.60 268.15 Td (awards ) Tj ET Q
q 0 0 0 rg BT 185.58 268.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 196.57 268.15 Td (either ) Tj ET Q
q 0 0 0 rg BT 222.72 268.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 251.21 268.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 262.19 268.15 Td (liabilities, ) Tj ET Q
q 0 0 0 rg BT 306.14 268.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 323.55 268.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 338.62 268.15 Td (classification ) Tj ET Q
q 0 0 0 rg BT 396.26 268.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 407.25 268.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 438.06 268.15 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 475.88 268.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 486.29 268.15 Td (statements ) Tj ET Q
q 0 0 0 rg BT 532.86 268.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 543.85 268.15 Td (cash ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 255.55 Td (flows. ) Tj ET Q
q 0 0 0 rg BT 77.88 255.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 80.13 255.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 98.88 255.55 Td (updated ) Tj ET Q
q 0 0 0 rg BT 134.55 255.55 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 174.87 255.55 Td (requires ) Tj ET Q
q 0 0 0 rg BT 211.12 255.55 Td (all ) Tj ET Q
q 0 0 0 rg BT 224.04 255.55 Td (excess ) Tj ET Q
q 0 0 0 rg BT 253.87 255.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 269.12 255.55 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 304.79 255.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 322.37 255.55 Td (deficiencies ) Tj ET Q
q 0 0 0 rg BT 374.94 255.55 Td (associated ) Tj ET Q
q 0 0 0 rg BT 420.51 255.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 441.60 255.55 Td (stock-based ) Tj ET Q
q 0 0 0 rg BT 493.60 255.55 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 554.34 255.55 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 242.95 Td (be ) Tj ET Q
q 0 0 0 rg BT 62.26 242.95 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 111.16 242.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 122.75 242.95 Td (discrete ) Tj ET Q
q 0 0 0 rg BT 158.25 242.95 Td (items ) Tj ET Q
q 0 0 0 rg BT 183.84 242.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 194.86 242.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 210.53 242.95 Td (Income ) Tj ET Q
q 0 0 0 rg BT 244.86 242.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 260.53 242.95 Td (provision ) Tj ET Q
q 0 0 0 rg BT 303.05 242.95 Td (\(benefit\) ) Tj ET Q
q 0 0 0 rg BT 342.04 242.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 353.05 242.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 368.73 242.95 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 426.99 242.95 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 475.91 242.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 487.50 242.95 Td (Income ) Tj ET Q
q 0 0 0 rg BT 521.83 242.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 524.68 242.95 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 554.35 242.95 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 230.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.15 230.35 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 106.46 230.35 Td (period ) Tj ET Q
q 0 0 0 rg BT 136.11 230.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 147.10 230.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 175.58 230.35 Td (they ) Tj ET Q
q 0 0 0 rg BT 196.48 230.35 Td (occur) Tj ET Q
q 0 0 0 rg BT 219.38 230.35 Td (, ) Tj ET Q
q 0 0 0 rg BT 224.83 230.35 Td (thereby ) Tj ET Q
q 0 0 0 rg BT 259.13 230.35 Td (increasing ) Tj ET Q
q 0 0 0 rg BT 305.11 230.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 320.76 230.35 Td (volatility ) Tj ET Q
q 0 0 0 rg BT 361.49 230.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 373.06 230.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 388.71 230.35 Td (Income ) Tj ET Q
q 0 0 0 rg BT 423.02 230.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 438.67 230.35 Td (provision ) Tj ET Q
q 0 0 0 rg BT 481.16 230.35 Td (\(benefit\) ) Tj ET Q
q 0 0 0 rg BT 520.13 230.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 531.70 230.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 539.18 230.35 Td (result ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 217.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.58 217.75 Td (fluctuations ) Tj ET Q
q 0 0 0 rg BT 114.48 217.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 125.98 217.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 143.31 217.75 Td (stock ) Tj ET Q
q 0 0 0 rg BT 168.80 217.75 Td (price. ) Tj ET Q
q 0 0 0 rg BT 195.51 217.75 Td (W) Tj ET Q
q 0 0 0 rg BT 204.58 217.75 Td (e ) Tj ET Q
q 0 0 0 rg BT 212.57 217.75 Td (adopted ) Tj ET Q
q 0 0 0 rg BT 249.14 217.75 Td (this ) Tj ET Q
q 0 0 0 rg BT 267.64 217.75 Td (amendment ) Tj ET Q
q 0 0 0 rg BT 319.96 217.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 333.79 217.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 341.78 217.75 Td (modified ) Tj ET Q
q 0 0 0 rg BT 383.02 217.75 Td (retrospective ) Tj ET Q
q 0 0 0 rg BT 440.57 217.75 Td (basis. ) Tj ET Q
q 0 0 0 rg BT 467.53 217.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 470.86 217.75 Td (Upon ) Tj ET Q
q 0 0 0 rg BT 497.53 217.75 Td (adoption ) Tj ET Q
q 0 0 0 rg BT 537.60 217.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 549.68 217.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 205.15 Td (updated ) Tj ET Q
q 0 0 0 rg BT 85.23 205.15 Td (guidance, ) Tj ET Q
q 0 0 0 rg BT 128.25 205.15 Td (we ) Tj ET Q
q 0 0 0 rg BT 142.99 205.15 Td (elected ) Tj ET Q
q 0 0 0 rg BT 175.21 205.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 185.87 205.15 Td (prospectively ) Tj ET Q
q 0 0 0 rg BT 244.93 205.15 Td (account ) Tj ET Q
q 0 0 0 rg BT 280.07 205.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 294.81 205.15 Td (forfeitures ) Tj ET Q
q 0 0 0 rg BT 341.03 205.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 352.27 205.15 Td (they ) Tj ET Q
q 0 0 0 rg BT 372.84 205.15 Td (occur) Tj ET Q
q 0 0 0 rg BT 395.58 205.15 Td (. ) Tj ET Q
q 0 0 0 rg BT 400.70 205.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 402.64 205.15 Td (Also, ) Tj ET Q
q 0 0 0 rg BT 427.60 205.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 448.75 205.15 Td (flows ) Tj ET Q
q 0 0 0 rg BT 474.57 205.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 505.63 205.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 516.29 205.15 Td (income ) Tj ET Q
q 0 0 0 rg BT 549.69 205.15 Td (tax ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 192.55 Td (deductions ) Tj ET Q
q 0 0 0 rg BT 98.09 192.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 109.36 192.55 Td (excess ) Tj ET Q
q 0 0 0 rg BT 139.86 192.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 151.71 192.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 163.55 192.55 Td (less ) Tj ET Q
q 0 0 0 rg BT 182.40 192.55 Td (than ) Tj ET Q
q 0 0 0 rg BT 203.58 192.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 219.51 192.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 251.17 192.55 Td (stock-based ) Tj ET Q
q 0 0 0 rg BT 303.84 192.55 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 365.26 192.55 Td (expense ) Tj ET Q
q 0 0 0 rg BT 402.18 192.55 Td (will ) Tj ET Q
q 0 0 0 rg BT 421.61 192.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 434.62 192.55 Td (classified ) Tj ET Q
q 0 0 0 rg BT 477.37 192.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 489.22 192.55 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 513.32 192.55 Td (Flows ) Tj ET Q
q 0 0 0 rg BT 542.10 192.55 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 179.95 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 93.45 179.95 Td (Activities ) Tj ET Q
q 0 0 0 rg BT 136.80 179.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 147.50 179.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 162.85 179.95 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 220.79 179.95 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 269.39 179.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 280.66 179.95 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 304.18 179.95 Td (Flows. ) Tj ET Q
q 0 0 0 rg BT 335.01 179.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 337.53 179.95 Td (Under ) Tj ET Q
q 0 0 0 rg BT 366.30 179.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 381.65 179.95 Td (prior ) Tj ET Q
q 0 0 0 rg BT 404.58 179.95 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 453.17 179.95 Td (guidance, ) Tj ET Q
q 0 0 0 rg BT 496.22 179.95 Td (such ) Tj ET Q
q 0 0 0 rg BT 517.99 179.95 Td (cash ) Tj ET Q
q 0 0 0 rg BT 539.17 179.95 Td (flows ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 167.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 72.53 167.35 Td (classified ) Tj ET Q
q 0 0 0 rg BT 114.80 167.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 126.18 167.35 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 149.80 167.35 Td (Flows ) Tj ET Q
q 0 0 0 rg BT 178.10 167.35 Td (from ) Tj ET Q
q 0 0 0 rg BT 201.14 167.35 Td (Financing ) Tj ET Q
q 0 0 0 rg BT 245.18 167.35 Td (Activities.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 142.15 Td (W) Tj ET Q
q 0 0 0 rg BT 58.57 142.15 Td (e ) Tj ET Q
q 0 0 0 rg BT 65.17 142.15 Td (granted ) Tj ET Q
q 0 0 0 rg BT 98.59 142.15 Td (0.4 ) Tj ET Q
q 0 0 0 rg BT 113.65 142.15 Td (million, ) Tj ET Q
q 0 0 0 rg BT 148.55 142.15 Td (0.8 ) Tj ET Q
q 0 0 0 rg BT 163.61 142.15 Td (million, ) Tj ET Q
q 0 0 0 rg BT 198.50 142.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 215.60 142.15 Td (0.9 ) Tj ET Q
q 0 0 0 rg BT 230.66 142.15 Td (million ) Tj ET Q
q 0 0 0 rg BT 262.93 142.15 Td (stock ) Tj ET Q
q 0 0 0 rg BT 287.03 142.15 Td (options ) Tj ET Q
q 0 0 0 rg BT 319.89 142.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 329.99 142.15 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 354.67 142.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 380.23 142.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 405.79 142.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 422.89 142.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 448.45 142.15 Td (respectively) Tj ET Q
q 0 0 0 rg BT 498.49 142.15 Td (. ) Tj ET Q
q 0 0 0 rg BT 503.05 142.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 504.85 142.15 Td (W) Tj ET Q
q 0 0 0 rg BT 513.92 142.15 Td (e ) Tj ET Q
q 0 0 0 rg BT 520.52 142.15 Td (determine ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 129.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.62 129.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 81.48 129.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 106.51 129.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 117.54 129.55 Td (each ) Tj ET Q
q 0 0 0 rg BT 139.06 129.55 Td (option ) Tj ET Q
q 0 0 0 rg BT 168.19 129.55 Td (grant ) Tj ET Q
q 0 0 0 rg BT 192.05 129.55 Td (using ) Tj ET Q
q 0 0 0 rg BT 217.09 129.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 232.21 129.55 Td (Black-Scholes ) Tj ET Q
q 0 0 0 rg BT 295.15 129.55 Td (option-pricing ) Tj ET Q
q 0 0 0 rg BT 357.52 129.55 Td (model, ) Tj ET Q
q 0 0 0 rg BT 388.68 129.55 Td (except ) Tj ET Q
q 0 0 0 rg BT 418.36 129.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 432.90 129.55 Td (market-based ) Tj ET Q
q 0 0 0 rg BT 491.74 129.55 Td (grants, ) Tj ET Q
q 0 0 0 rg BT 522.32 129.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 536.85 129.55 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 116.95 Td (we ) Tj ET Q
q 0 0 0 rg BT 63.95 116.95 Td (use ) Tj ET Q
q 0 0 0 rg BT 80.15 116.95 Td (a ) Tj ET Q
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q 0 0 0 rg BT 231.39 615.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 247.87 615.75 Td (holders ) Tj ET Q
q 0 0 0 rg BT 282.43 615.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 294.25 615.75 Td (receive ) Tj ET Q
q 0 0 0 rg BT 328.21 615.75 Td (quarterly ) Tj ET Q
q 0 0 0 rg BT 369.77 615.75 Td (distributions ) Tj ET Q
q 0 0 0 rg BT 425.93 615.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 438.32 615.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 454.81 615.75 Td (af) Tj ET Q
q 0 0 0 rg BT 462.77 615.75 Td (filiate's ) Tj ET Q
q 0 0 0 rg BT 496.89 615.75 Td (net ) Tj ET Q
q 0 0 0 rg BT 513.37 615.75 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 554.34 615.75 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 87.10 603.15 Td (equal ) Tj ET Q
q 0 0 0 rg BT 111.85 603.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 122.04 603.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 136.88 603.15 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 184.36 603.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 195.13 603.15 Td (ownership ) Tj ET Q
q 0 0 0 rg BT 240.89 603.15 Td (represented ) Tj ET Q
q 0 0 0 rg BT 291.29 603.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 303.81 603.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 318.65 603.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 346.92 603.15 Td (they ) Tj ET Q
q 0 0 0 rg BT 367.01 603.15 Td (hold. ) Tj ET Q
q 0 0 0 rg BT 390.32 603.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 392.33 603.15 Td (During ) Tj ET Q
q 0 0 0 rg BT 424.10 603.15 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 448.85 603.15 Td (2014, ) Tj ET Q
q 0 0 0 rg BT 474.49 603.15 Td (we ) Tj ET Q
q 0 0 0 rg BT 488.75 603.15 Td (also ) Tj ET Q
q 0 0 0 rg BT 507.68 603.15 Td (implemented ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (management ) Tj ET Q
q 0 0 0 rg BT 106.18 590.55 Td (equity ) Tj ET Q
q 0 0 0 rg BT 135.46 590.55 Td (plans ) Tj ET Q
q 0 0 0 rg BT 160.67 590.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 175.94 590.55 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 208.72 590.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 226.92 590.55 Td (ClearBridge ) Tj ET Q
q 0 0 0 rg BT 281.27 590.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 299.47 590.55 Td (granted ) Tj ET Q
q 0 0 0 rg BT 333.99 590.55 Td (units ) Tj ET Q
q 0 0 0 rg BT 357.45 590.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 368.66 590.55 Td (certain ) Tj ET Q
q 0 0 0 rg BT 400.26 590.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 412.04 590.55 Td (their ) Tj ET Q
q 0 0 0 rg BT 434.32 590.55 Td (employees ) Tj ET Q
q 0 0 0 rg BT 482.26 590.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 501.04 590.55 Td (entitle ) Tj ET Q
q 0 0 0 rg BT 530.32 590.55 Td (them ) Tj ET Q
q 0 0 0 rg BT 554.35 590.55 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (participate ) Tj ET Q
q 0 0 0 rg BT 95.67 577.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 105.69 577.95 Td (15% ) Tj ET Q
q 0 0 0 rg BT 126.80 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 137.40 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 152.08 577.95 Td (future ) Tj ET Q
q 0 0 0 rg BT 179.01 577.95 Td (growth ) Tj ET Q
q 0 0 0 rg BT 210.62 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 221.22 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 235.91 577.95 Td (respective ) Tj ET Q
q 0 0 0 rg BT 280.33 577.95 Td (af) Tj ET Q
q 0 0 0 rg BT 288.29 577.95 Td (filiate's ) Tj ET Q
q 0 0 0 rg BT 320.62 577.95 Td (enterprise ) Tj ET Q
q 0 0 0 rg BT 363.87 577.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 388.47 577.95 Td (\(subject ) Tj ET Q
q 0 0 0 rg BT 423.56 577.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 433.59 577.95 Td (appropriate ) Tj ET Q
q 0 0 0 rg BT 483.26 577.95 Td (discounts\). ) Tj ET Q
q 0 0 0 rg BT 530.90 577.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 532.76 577.95 Td (During ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 74.22 565.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 99.83 565.35 Td (in ) Tj ET Q
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q 0 0 0 rg BT 178.67 565.35 Td (the ) Tj ET Q
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q 0 0 0 rg BT 247.96 565.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 258.68 565.35 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 290.41 565.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 311.06 565.35 Td (EnT) Tj ET Q
q 0 0 0 rg BT 328.77 565.35 Td (rust, ) Tj ET Q
q 0 0 0 rg BT 349.12 565.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 363.93 565.35 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 395.66 565.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 451.28 565.35 Td (equity ) Tj ET Q
q 0 0 0 rg BT 479.51 565.35 Td (plan ) Tj ET Q
q 0 0 0 rg BT 499.57 565.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 517.88 565.35 Td (liquidated. ) Tj ET Q
q 0 0 0 rg BT 565.12 565.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (W) Tj ET Q
q 0 0 0 rg BT 58.57 540.15 Td (e ) Tj ET Q
q 0 0 0 rg BT 66.53 540.15 Td (also ) Tj ET Q
q 0 0 0 rg BT 86.74 540.15 Td (determine ) Tj ET Q
q 0 0 0 rg BT 132.02 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 148.15 540.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 166.01 540.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 192.05 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 204.10 540.15 Td (option-like ) Tj ET Q
q 0 0 0 rg BT 253.47 540.15 Td (af) Tj ET Q
q 0 0 0 rg BT 261.44 540.15 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 289.22 540.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 346.17 540.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 375.71 540.15 Td (plan ) Tj ET Q
q 0 0 0 rg BT 397.09 540.15 Td (grants ) Tj ET Q
q 0 0 0 rg BT 426.05 540.15 Td (using ) Tj ET Q
q 0 0 0 rg BT 452.10 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 468.22 540.15 Td (Black-Scholes ) Tj ET Q
q 0 0 0 rg BT 532.17 540.15 Td (option-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (pricing ) Tj ET Q
q 0 0 0 rg BT 81.31 527.55 Td (model, ) Tj ET Q
q 0 0 0 rg BT 112.24 527.55 Td (subject ) Tj ET Q
q 0 0 0 rg BT 144.05 527.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 154.28 527.55 Td (any ) Tj ET Q
q 0 0 0 rg BT 171.50 527.55 Td (post-vesting ) Tj ET Q
q 0 0 0 rg BT 224.90 527.55 Td (illiquidity ) Tj ET Q
q 0 0 0 rg BT 268.38 527.55 Td (discounts. ) Tj ET Q
q 0 0 0 rg BT 312.74 527.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 314.80 527.55 Td (Inputs ) Tj ET Q
q 0 0 0 rg BT 343.12 527.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 353.35 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 368.24 527.55 Td (Black-Scholes ) Tj ET Q
q 0 0 0 rg BT 430.96 527.55 Td (model ) Tj ET Q
q 0 0 0 rg BT 459.27 527.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 474.15 527.55 Td (generally ) Tj ET Q
q 0 0 0 rg BT 515.27 527.55 Td (determined ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 59.95 514.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 66.90 514.95 Td (fashion ) Tj ET Q
q 0 0 0 rg BT 100.10 514.95 Td (similar ) Tj ET Q
q 0 0 0 rg BT 131.55 514.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 142.00 514.95 Td (the ) Tj ET Q
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q 0 0 0 rg BT 173.98 514.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 199.00 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 210.03 514.95 Td (grants ) Tj ET Q
q 0 0 0 rg BT 237.98 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 249.02 514.95 Td (options ) Tj ET Q
q 0 0 0 rg BT 282.22 514.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 292.68 514.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 308.96 514.95 Td (own ) Tj ET Q
q 0 0 0 rg BT 329.33 514.95 Td (stock, ) Tj ET Q
q 0 0 0 rg BT 356.41 514.95 Td (described ) Tj ET Q
q 0 0 0 rg BT 398.93 514.95 Td (above. ) Tj ET Q
q 0 0 0 rg BT 428.91 514.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 431.20 514.95 Td (However) Tj ET Q
q 0 0 0 rg BT 469.26 514.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 474.17 514.95 Td (because ) Tj ET Q
q 0 0 0 rg BT 509.69 514.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 525.97 514.95 Td (af) Tj ET Q
q 0 0 0 rg BT 533.94 514.95 Td (filiates ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 65.03 502.35 Td (private ) Tj ET Q
q 0 0 0 rg BT 96.89 502.35 Td (companies ) Tj ET Q
q 0 0 0 rg BT 144.50 502.35 Td (without ) Tj ET Q
q 0 0 0 rg BT 179.30 502.35 Td (quoted ) Tj ET Q
q 0 0 0 rg BT 210.58 502.35 Td (stock ) Tj ET Q
q 0 0 0 rg BT 235.46 502.35 Td (prices, ) Tj ET Q
q 0 0 0 rg BT 265.87 502.35 Td (we ) Tj ET Q
q 0 0 0 rg BT 280.82 502.35 Td (utilize ) Tj ET Q
q 0 0 0 rg BT 309.77 502.35 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 357.97 502.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 379.34 502.35 Td (flow ) Tj ET Q
q 0 0 0 rg BT 401.29 502.35 Td (analyses ) Tj ET Q
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q 0 0 0 rg BT 457.45 502.35 Td (market-based ) Tj ET Q
q 0 0 0 rg BT 516.71 502.35 Td (valuations, ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 81.22 489.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 91.94 489.75 Td (those ) Tj ET Q
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q 0 0 0 rg BT 213.56 489.75 Td (the ) Tj ET Q
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q 0 0 0 rg BT 264.73 489.75 Td (�Intangible ) Tj ET Q
q 0 0 0 rg BT 313.96 489.75 Td (Assets ) Tj ET Q
q 0 0 0 rg BT 343.93 489.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 361.65 489.75 Td (Goodwill�, ) Tj ET Q
q 0 0 0 rg BT 411.16 489.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 421.88 489.75 Td (determine ) Tj ET Q
q 0 0 0 rg BT 466.42 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 481.80 489.75 Td (respective ) Tj ET Q
q 0 0 0 rg BT 526.92 489.75 Td (business ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (enterprise ) Tj ET Q
q 0 0 0 rg BT 93.52 477.15 Td (values, ) Tj ET Q
q 0 0 0 rg BT 125.60 477.15 Td (subject ) Tj ET Q
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q 0 0 0 rg BT 276.35 477.15 Td (lack ) Tj ET Q
q 0 0 0 rg BT 296.47 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 307.84 477.15 Td (control ) Tj ET Q
q 0 0 0 rg BT 340.21 477.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 357.99 477.15 Td (marketability) Tj ET Q
q 0 0 0 rg BT 413.29 477.15 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (For ) Tj ET Q
q 0 0 0 rg BT 66.10 451.95 Td (additional ) Tj ET Q
q 0 0 0 rg BT 110.10 451.95 Td (information ) Tj ET Q
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q 0 0 0 rg BT 174.20 451.95 Td (stock-based ) Tj ET Q
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q 0 0 0 rg BT 304.16 451.95 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 330.67 451.95 Td (1 ) Tj ET Q
q 0 0 0 rg BT 337.93 451.95 Td (and�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 355.72 451.95 Td (1) Tj ET Q
q 0 0 0 rg BT 360.58 451.95 Td (1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 365.83 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 367.84 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 378.60 451.95 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 405.11 451.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 415.29 451.95 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 472.71 451.95 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 513.80 451.95 Td (Statements.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (Noncontr) Tj ET Q
q 0 0 0 rg BT 91.89 426.75 Td (olling ) Tj ET Q
q 0 0 0 rg BT 119.61 426.75 Td (Inter) Tj ET Q
q 0 0 0 rg BT 142.16 426.75 Td (ests) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (Noncontrolling ) Tj ET Q
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q 0 0 0 rg BT 152.29 414.15 Td (include ) Tj ET Q
q 0 0 0 rg BT 185.02 414.15 Td (af) Tj ET Q
q 0 0 0 rg BT 192.98 414.15 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 219.29 414.15 Td (minority ) Tj ET Q
q 0 0 0 rg BT 257.28 414.15 Td (interests, ) Tj ET Q
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q 0 0 0 rg BT 417.13 414.15 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 472.02 414.15 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 516.42 414.15 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (products, ) Tj ET Q
q 0 0 0 rg BT 91.00 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 108.87 401.55 Td (vested ) Tj ET Q
q 0 0 0 rg BT 138.40 401.55 Td (af) Tj ET Q
q 0 0 0 rg BT 146.37 401.55 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 173.57 401.55 Td (management ) Tj ET Q
q 0 0 0 rg BT 229.93 401.55 Td (equity ) Tj ET Q
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q 0 0 0 rg BT 279.67 401.55 Td (interests. ) Tj ET Q
q 0 0 0 rg BT 320.00 401.55 Td ( ) Tj ET Q
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q 0 0 0 rg BT 455.65 401.55 Td (the ) Tj ET Q
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q 0 0 0 rg BT 521.51 401.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 534.14 401.55 Td (able ) Tj ET Q
q 0 0 0 rg BT 554.33 401.55 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (request ) Tj ET Q
q 0 0 0 rg BT 82.74 388.95 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 128.82 388.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 144.56 388.95 Td (classified ) Tj ET Q
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q 0 0 0 rg BT 252.73 388.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 270.81 388.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 286.55 388.95 Td (reported ) Tj ET Q
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q 0 0 0 rg BT 334.95 388.95 Td (their ) Tj ET Q
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q 0 0 0 rg BT 446.35 388.95 Td (values. ) Tj ET Q
q 0 0 0 rg BT 478.72 388.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 481.43 388.95 Td (When ) Tj ET Q
q 0 0 0 rg BT 509.43 388.95 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 555.50 388.95 Td (is ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 161.68 376.35 Td (a ) Tj ET Q
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q 0 0 0 rg BT 565.14 376.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (Nonredeemable ) Tj ET Q
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q 0 0 0 rg BT 282.53 363.75 Td (the ) Tj ET Q
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q 0 0 0 rg BT 526.94 363.75 Td (issuance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (value, ) Tj ET Q
q 0 0 0 rg BT 77.49 351.15 Td (together ) Tj ET Q
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q 0 0 0 rg BT 193.85 351.15 Td (net ) Tj ET Q
q 0 0 0 rg BT 209.30 351.15 Td (income ) Tj ET Q
q 0 0 0 rg BT 242.83 351.15 Td (\(loss\) ) Tj ET Q
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q 0 0 0 rg BT 309.31 351.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 320.10 351.15 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 384.56 351.15 Td (interests.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (W) Tj ET Q
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q 0 0 0 rg BT 66.72 325.95 Td (estimate ) Tj ET Q
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q 0 0 0 rg BT 168.14 325.95 Td (value ) Tj ET Q
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q 0 0 0 rg BT 322.62 325.95 Td (their ) Tj ET Q
q 0 0 0 rg BT 345.35 325.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 363.40 325.95 Td (value. ) Tj ET Q
q 0 0 0 rg BT 392.25 325.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 395.74 325.95 Td (For ) Tj ET Q
q 0 0 0 rg BT 413.81 325.95 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 470.36 325.95 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 516.43 325.95 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (products, ) Tj ET Q
q 0 0 0 rg BT 91.44 313.35 Td (where ) Tj ET Q
q 0 0 0 rg BT 120.24 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 136.22 313.35 Td (investor ) Tj ET Q
q 0 0 0 rg BT 173.20 313.35 Td (may ) Tj ET Q
q 0 0 0 rg BT 194.43 313.35 Td (request ) Tj ET Q
q 0 0 0 rg BT 227.90 313.35 Td (withdrawal ) Tj ET Q
q 0 0 0 rg BT 278.29 313.35 Td (at ) Tj ET Q
q 0 0 0 rg BT 289.02 313.35 Td (any ) Tj ET Q
q 0 0 0 rg BT 307.34 313.35 Td (time, ) Tj ET Q
q 0 0 0 rg BT 331.78 313.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 349.50 313.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 375.39 313.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 385.54 313.35 Td (based ) Tj ET Q
q 0 0 0 rg BT 412.60 313.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 426.26 313.35 Td (market ) Tj ET Q
q 0 0 0 rg BT 458.56 313.35 Td (quotes ) Tj ET Q
q 0 0 0 rg BT 489.13 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 501.03 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 517.01 313.35 Td (underlying ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (securities ) Tj ET Q
q 0 0 0 rg BT 92.12 300.75 Td (held ) Tj ET Q
q 0 0 0 rg BT 113.16 300.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 126.63 300.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 142.42 300.75 Td (investment ) Tj ET Q
q 0 0 0 rg BT 191.46 300.75 Td (vehicles. ) Tj ET Q
q 0 0 0 rg BT 231.46 300.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 234.42 300.75 Td (For ) Tj ET Q
q 0 0 0 rg BT 251.97 300.75 Td (af) Tj ET Q
q 0 0 0 rg BT 259.94 300.75 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 287.39 300.75 Td (minority ) Tj ET Q
q 0 0 0 rg BT 326.52 300.75 Td (interests ) Tj ET Q
q 0 0 0 rg BT 364.48 300.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 382.61 300.75 Td (af) Tj ET Q
q 0 0 0 rg BT 390.57 300.75 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 418.03 300.75 Td (management ) Tj ET Q
q 0 0 0 rg BT 474.64 300.75 Td (equity ) Tj ET Q
q 0 0 0 rg BT 503.85 300.75 Td (plan ) Tj ET Q
q 0 0 0 rg BT 524.89 300.75 Td (interests, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 66.05 288.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 90.77 288.15 Td (reflects ) Tj ET Q
q 0 0 0 rg BT 123.65 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 138.46 288.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 169.01 288.15 Td (total ) Tj ET Q
q 0 0 0 rg BT 189.65 288.15 Td (business ) Tj ET Q
q 0 0 0 rg BT 227.22 288.15 Td (enterprise ) Tj ET Q
q 0 0 0 rg BT 270.60 288.15 Td (value, ) Tj ET Q
q 0 0 0 rg BT 297.94 288.15 Td (after ) Tj ET Q
q 0 0 0 rg BT 319.16 288.15 Td (appropriate ) Tj ET Q
q 0 0 0 rg BT 368.95 288.15 Td (discounts ) Tj ET Q
q 0 0 0 rg BT 410.60 288.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 424.82 288.15 Td (lack ) Tj ET Q
q 0 0 0 rg BT 444.29 288.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 455.02 288.15 Td (marketability ) Tj ET Q
q 0 0 0 rg BT 512.98 288.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 530.13 288.15 Td (control. ) Tj ET Q
q 0 0 0 rg BT 565.12 288.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.55 Td (There ) Tj ET Q
q 0 0 0 rg BT 75.80 275.55 Td (may ) Tj ET Q
q 0 0 0 rg BT 95.70 275.55 Td (also ) Tj ET Q
q 0 0 0 rg BT 114.44 275.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 126.17 275.55 Td (features ) Tj ET Q
q 0 0 0 rg BT 161.22 275.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 171.79 275.55 Td (these ) Tj ET Q
q 0 0 0 rg BT 195.19 275.55 Td (equity ) Tj ET Q
q 0 0 0 rg BT 223.25 275.55 Td (interests, ) Tj ET Q
q 0 0 0 rg BT 262.69 275.55 Td (such ) Tj ET Q
q 0 0 0 rg BT 283.76 275.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 294.33 275.55 Td (dividend ) Tj ET Q
q 0 0 0 rg BT 332.90 275.55 Td (subordination, ) Tj ET Q
q 0 0 0 rg BT 395.09 275.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 412.65 275.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 427.29 275.55 Td (contemplated ) Tj ET Q
q 0 0 0 rg BT 485.68 275.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 495.67 275.55 Td (their ) Tj ET Q
q 0 0 0 rg BT 516.73 275.55 Td (valuations. ) Tj ET Q
q 0 0 0 rg BT 565.14 275.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 262.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 67.40 262.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 83.54 262.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 107.86 262.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 118.18 262.95 Td (option-like ) Tj ET Q
q 0 0 0 rg BT 165.83 262.95 Td (management ) Tj ET Q
q 0 0 0 rg BT 221.05 262.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 248.87 262.95 Td (plan ) Tj ET Q
q 0 0 0 rg BT 268.52 262.95 Td (interests ) Tj ET Q
q 0 0 0 rg BT 305.09 262.95 Td (also ) Tj ET Q
q 0 0 0 rg BT 323.58 262.95 Td (relies ) Tj ET Q
q 0 0 0 rg BT 347.89 262.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 359.96 262.95 Td (Black-Scholes ) Tj ET Q
q 0 0 0 rg BT 422.19 262.95 Td (option ) Tj ET Q
q 0 0 0 rg BT 450.60 262.95 Td (pricing ) Tj ET Q
q 0 0 0 rg BT 481.92 262.95 Td (model ) Tj ET Q
q 0 0 0 rg BT 509.74 262.95 Td (calculations, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 250.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 60.27 250.35 Td (noted ) Tj ET Q
q 0 0 0 rg BT 85.62 250.35 Td (above. ) Tj ET Q
q 0 0 0 rg BT 115.34 250.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 117.36 250.35 Td (For ) Tj ET Q
q 0 0 0 rg BT 133.97 250.35 Td (af) Tj ET Q
q 0 0 0 rg BT 141.93 250.35 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 168.44 250.35 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 232.29 250.35 Td (interests, ) Tj ET Q
q 0 0 0 rg BT 271.93 250.35 Td (subsequent ) Tj ET Q
q 0 0 0 rg BT 320.61 250.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 330.80 250.35 Td (acquisition, ) Tj ET Q
q 0 0 0 rg BT 381.53 250.35 Td (business ) Tj ET Q
q 0 0 0 rg BT 419.14 250.35 Td (enterprise ) Tj ET Q
q 0 0 0 rg BT 462.55 250.35 Td (values ) Tj ET Q
q 0 0 0 rg BT 491.40 250.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 506.24 250.35 Td (derived ) Tj ET Q
q 0 0 0 rg BT 539.75 250.35 Td (using ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 237.75 Td (various ) Tj ET Q
q 0 0 0 rg BT 82.54 237.75 Td (methods, ) Tj ET Q
q 0 0 0 rg BT 122.88 237.75 Td (including ) Tj ET Q
q 0 0 0 rg BT 164.68 237.75 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 212.30 237.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 233.09 237.75 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 261.18 237.75 Td (guideline ) Tj ET Q
q 0 0 0 rg BT 302.38 237.75 Td (public ) Tj ET Q
q 0 0 0 rg BT 330.76 237.75 Td (company ) Tj ET Q
q 0 0 0 rg BT 371.38 237.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 388.67 237.75 Td (guideline ) Tj ET Q
q 0 0 0 rg BT 429.88 237.75 Td (public ) Tj ET Q
q 0 0 0 rg BT 458.25 237.75 Td (transaction ) Tj ET Q
q 0 0 0 rg BT 506.45 237.75 Td (methods. ) Tj ET Q
q 0 0 0 rg BT 546.79 237.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 548.77 237.75 Td (W) Tj ET Q
q 0 0 0 rg BT 557.84 237.75 Td (e ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 225.15 Td (may ) Tj ET Q
q 0 0 0 rg BT 69.25 225.15 Td (engage ) Tj ET Q
q 0 0 0 rg BT 100.65 225.15 Td (third-party ) Tj ET Q
q 0 0 0 rg BT 147.22 225.15 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 187.96 225.15 Td (experts ) Tj ET Q
q 0 0 0 rg BT 219.95 225.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 229.78 225.15 Td (perform ) Tj ET Q
q 0 0 0 rg BT 265.27 225.15 Td (independent ) Tj ET Q
q 0 0 0 rg BT 318.25 225.15 Td (determinations ) Tj ET Q
q 0 0 0 rg BT 382.32 225.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 392.73 225.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 408.97 225.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 433.38 225.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 443.79 225.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 453.63 225.15 Td (review ) Tj ET Q
q 0 0 0 rg BT 483.86 225.15 Td (internally ) Tj ET Q
q 0 0 0 rg BT 525.77 225.15 Td (prepared ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 212.55 Td (valuations, ) Tj ET Q
q 0 0 0 rg BT 98.01 212.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 109.48 212.55 Td (appropriate, ) Tj ET Q
q 0 0 0 rg BT 162.64 212.55 Td (based ) Tj ET Q
q 0 0 0 rg BT 189.28 212.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 202.50 212.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 218.05 212.55 Td (relative ) Tj ET Q
q 0 0 0 rg BT 252.26 212.55 Td (significance ) Tj ET Q
q 0 0 0 rg BT 305.71 212.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 317.18 212.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 332.74 212.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 364.03 212.55 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 402.33 212.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 420.22 212.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 451.51 212.55 Td (contractual ) Tj ET Q
q 0 0 0 rg BT 500.87 212.55 Td (provisions ) Tj ET Q
q 0 0 0 rg BT 547.35 212.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 199.95 Td (changes ) Tj ET Q
q 0 0 0 rg BT 85.94 199.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 96.74 199.95 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 138.43 199.95 Td (inputs.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 174.75 Td (Income ) Tj ET Q
q 0 0 0 rg BT 85.18 174.75 Td (T) Tj ET Q
q 0 0 0 rg BT 91.22 174.75 Td (axes) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 162.15 Td (W) Tj ET Q
q 0 0 0 rg BT 58.57 162.15 Td (e ) Tj ET Q
q 0 0 0 rg BT 64.83 162.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 79.25 162.15 Td (subject ) Tj ET Q
q 0 0 0 rg BT 110.59 162.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 120.36 162.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 134.79 162.15 Td (income ) Tj ET Q
q 0 0 0 rg BT 167.30 162.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 181.73 162.15 Td (laws ) Tj ET Q
q 0 0 0 rg BT 202.58 162.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 212.92 162.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 227.35 162.15 Td (federal, ) Tj ET Q
q 0 0 0 rg BT 260.72 162.15 Td (state ) Tj ET Q
q 0 0 0 rg BT 281.57 162.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 298.33 162.15 Td (local ) Tj ET Q
q 0 0 0 rg BT 320.34 162.15 Td (jurisdictions ) Tj ET Q
q 0 0 0 rg BT 373.85 162.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 384.20 162.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 398.63 162.15 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 418.90 162.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 435.67 162.15 Td (numerous ) Tj ET Q
q 0 0 0 rg BT 478.68 162.15 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 510.60 162.15 Td (jurisdictions ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 149.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.60 149.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 89.19 149.55 Td (we ) Tj ET Q
q 0 0 0 rg BT 104.36 149.55 Td (operate. ) Tj ET Q
q 0 0 0 rg BT 140.81 149.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 143.53 149.55 Td (W) Tj ET Q
q 0 0 0 rg BT 152.60 149.55 Td (e ) Tj ET Q
q 0 0 0 rg BT 160.19 149.55 Td (file ) Tj ET Q
q 0 0 0 rg BT 177.12 149.55 Td (income ) Tj ET Q
q 0 0 0 rg BT 210.95 149.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 226.71 149.55 Td (returns ) Tj ET Q
q 0 0 0 rg BT 258.80 149.55 Td (representing ) Tj ET Q
q 0 0 0 rg BT 313.63 149.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 330.55 149.55 Td (filing ) Tj ET Q
q 0 0 0 rg BT 356.23 149.55 Td (positions ) Tj ET Q
q 0 0 0 rg BT 397.09 149.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 418.68 149.55 Td (each ) Tj ET Q
q 0 0 0 rg BT 440.85 149.55 Td (relevant ) Tj ET Q
q 0 0 0 rg BT 477.59 149.55 Td (jurisdiction. ) Tj ET Q
q 0 0 0 rg BT 530.98 149.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 533.91 149.55 Td (Due ) Tj ET Q
q 0 0 0 rg BT 554.33 149.55 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 136.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.32 136.95 Td (inherent ) Tj ET Q
q 0 0 0 rg BT 100.72 136.95 Td (complexities ) Tj ET Q
q 0 0 0 rg BT 156.37 136.95 Td (arising ) Tj ET Q
q 0 0 0 rg BT 186.94 136.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 209.34 136.95 Td (conducting ) Tj ET Q
q 0 0 0 rg BT 257.99 136.95 Td (business ) Tj ET Q
q 0 0 0 rg BT 295.57 136.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 312.73 136.95 Td (being ) Tj ET Q
q 0 0 0 rg BT 338.05 136.95 Td (taxed ) Tj ET Q
q 0 0 0 rg BT 362.78 136.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 372.94 136.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 379.59 136.95 Td (substantial ) Tj ET Q
q 0 0 0 rg BT 426.50 136.95 Td (number ) Tj ET Q
q 0 0 0 rg BT 460.57 136.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 471.31 136.95 Td (jurisdictions, ) Tj ET Q
q 0 0 0 rg BT 527.84 136.95 Td (we ) Tj ET Q
q 0 0 0 rg BT 542.08 136.95 Td (must ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 124.35 Td (make ) Tj ET Q
q 0 0 0 rg BT 74.86 124.35 Td (certain ) Tj ET Q
q 0 0 0 rg BT 106.05 124.35 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 147.75 124.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 165.54 124.35 Td (judgments ) Tj ET Q
q 0 0 0 rg BT 211.91 124.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 222.70 124.35 Td (determining ) Tj ET Q
q 0 0 0 rg BT 276.07 124.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 292.69 124.35 Td (income ) Tj ET Q
q 0 0 0 rg BT 326.22 124.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 341.67 124.35 Td (provision ) Tj ET Q
q 0 0 0 rg BT 383.97 124.35 Td (\(benefit\) ) Tj ET Q
q 0 0 0 rg BT 422.74 124.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 437.61 124.35 Td (financial ) Tj ET Q
q 0 0 0 rg BT 476.96 124.35 Td (statement ) Tj ET Q
q 0 0 0 rg BT 519.82 124.35 Td (purposes.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 101.75 Td (Substantially ) Tj ET Q
q 0 0 0 rg BT 106.83 101.75 Td (all ) Tj ET Q
q 0 0 0 rg BT 119.82 101.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 131.07 101.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 147.56 101.75 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 185.03 101.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 200.36 101.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 227.35 101.75 Td (relate ) Tj ET Q
q 0 0 0 rg BT 253.16 101.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 263.83 101.75 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 285.00 101.75 Td (\(federal ) Tj ET Q
q 0 0 0 rg BT 320.13 101.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 337.79 101.75 Td (state\), ) Tj ET Q
q 0 0 0 rg BT 365.65 101.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 383.31 101.75 Td (U.K. ) Tj ET Q
q 0 0 0 rg BT 406.22 101.75 Td (taxing ) Tj ET Q
q 0 0 0 rg BT 434.96 101.75 Td (jurisdictions. ) Tj ET Q
q 0 0 0 rg BT 492.00 101.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 493.95 101.75 Td (As ) Tj ET Q
q 0 0 0 rg BT 508.12 101.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 519.36 101.75 Td (March�31, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 89.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 76.13 89.15 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 97.82 89.15 Td (federal ) Tj ET Q
q 0 0 0 rg BT 129.97 89.15 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 167.95 89.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 183.79 89.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 211.30 89.15 Td (aggregated ) Tj ET Q
q 0 0 0 rg BT 260.36 89.15 Td ($551�million, ) Tj ET Q
q 0 0 0 rg BT 319.96 89.15 Td (realization ) Tj ET Q
q 0 0 0 rg BT 367.28 89.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 379.04 89.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 407.71 89.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 417.72 89.15 Td (expected ) Tj ET Q
q 0 0 0 rg BT 458.04 89.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 469.22 89.15 Td (require ) Tj ET Q
q 0 0 0 rg BT 501.96 89.15 Td ($3.8 ) Tj ET Q
q 0 0 0 rg BT 523.34 89.15 Td (billion ) Tj ET Q
q 0 0 0 rg BT 553.77 89.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 76.55 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 70.51 76.55 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 108.42 76.55 Td (over ) Tj ET Q
q 0 0 0 rg BT 129.42 76.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 144.59 76.55 Td (next ) Tj ET Q
q 0 0 0 rg BT 165.00 76.55 Td (10 ) Tj ET Q
q 0 0 0 rg BT 177.84 76.55 Td (years, ) Tj ET Q
q 0 0 0 rg BT 204.96 76.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 216.05 76.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 244.05 76.55 Td ($1.3 ) Tj ET Q
q 0 0 0 rg BT 264.76 76.55 Td (billion ) Tj ET Q
q 0 0 0 rg BT 294.52 76.55 Td (must ) Tj ET Q
q 0 0 0 rg BT 317.28 76.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 329.53 76.55 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 362.19 76.55 Td (sourced ) Tj ET Q
q 0 0 0 rg BT 397.19 76.55 Td (earnings. ) Tj ET Q
q 0 0 0 rg BT 437.72 76.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 440.06 76.55 Td (Deferred ) Tj ET Q
q 0 0 0 rg BT 479.71 76.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 494.88 76.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 521.71 76.55 Td (generated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 63.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 59.66 63.95 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 80.33 63.95 Td (jurisdictions ) Tj ET Q
q 0 0 0 rg BT 134.25 63.95 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 172.99 63.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 195.40 63.95 Td (net ) Tj ET Q
q 0 0 0 rg BT 210.23 63.95 Td (operating ) Tj ET Q
q 0 0 0 rg BT 251.88 63.95 Td (losses ) Tj ET Q
q 0 0 0 rg BT 278.96 63.95 Td (generally ) Tj ET Q
q 0 0 0 rg BT 320.02 63.95 Td (expire ) Tj ET Q
q 0 0 0 rg BT 348.25 63.95 Td (20�years ) Tj ET Q
q 0 0 0 rg BT 385.53 63.95 Td (after ) Tj ET Q
q 0 0 0 rg BT 406.76 63.95 Td (they ) Tj ET Q
q 0 0 0 rg BT 426.83 63.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 441.65 63.95 Td (generated ) Tj ET Q
q 0 0 0 rg BT 484.45 63.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 501.61 63.95 Td (those ) Tj ET Q
q 0 0 0 rg BT 525.77 63.95 Td (resulting ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 51.35 Td (from ) Tj ET Q
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q 0 0 0 rg BT 459.54 545.35 Td (realized ) Tj ET Q
q 0 0 0 rg BT 495.39 545.35 Td (may ) Tj ET Q
q 0 0 0 rg BT 516.09 545.35 Td (vary) Tj ET Q
q 0 0 0 rg BT 534.07 545.35 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 522.75 Td (For ) Tj ET Q
q 0 0 0 rg BT 66.36 522.75 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 98.96 522.75 Td (jurisdictions, ) Tj ET Q
q 0 0 0 rg BT 155.77 522.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 170.87 522.75 Td (net ) Tj ET Q
q 0 0 0 rg BT 185.98 522.75 Td (decrease ) Tj ET Q
q 0 0 0 rg BT 224.39 522.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 234.83 522.75 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 276.18 522.75 Td (allowances ) Tj ET Q
q 0 0 0 rg BT 325.10 522.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 336.12 522.75 Td ($1.1 ) Tj ET Q
q 0 0 0 rg BT 356.77 522.75 Td (million ) Tj ET Q
q 0 0 0 rg BT 389.38 522.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 399.82 522.75 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 424.83 522.75 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 450.73 522.75 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 492.08 522.75 Td (relates ) Tj ET Q
q 0 0 0 rg BT 521.75 522.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 532.19 522.75 Td (revised ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 510.15 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 91.20 510.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 102.57 510.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 118.02 510.15 Td (realization ) Tj ET Q
q 0 0 0 rg BT 164.96 510.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 176.33 510.15 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 213.93 510.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 229.38 510.15 Td (benefits.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 487.55 Td (T) Tj ET Q
q 0 0 0 rg BT 55.18 487.55 Td (o ) Tj ET Q
q 0 0 0 rg BT 63.22 487.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 78.83 487.55 Td (extent ) Tj ET Q
q 0 0 0 rg BT 107.27 487.55 Td (our ) Tj ET Q
q 0 0 0 rg BT 124.06 487.55 Td (analysis ) Tj ET Q
q 0 0 0 rg BT 160.67 487.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 172.21 487.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 187.82 487.55 Td (realization ) Tj ET Q
q 0 0 0 rg BT 234.92 487.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 246.45 487.55 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 284.21 487.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 299.82 487.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 327.11 487.55 Td (relies ) Tj ET Q
q 0 0 0 rg BT 352.63 487.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 365.92 487.55 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 403.68 487.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 419.29 487.55 Td (liabilities, ) Tj ET Q
q 0 0 0 rg BT 463.79 487.55 Td (we ) Tj ET Q
q 0 0 0 rg BT 478.82 487.55 Td (have ) Tj ET Q
q 0 0 0 rg BT 501.42 487.55 Td (considered ) Tj ET Q
q 0 0 0 rg BT 549.69 487.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 474.95 Td (timing, ) Tj ET Q
q 0 0 0 rg BT 82.40 474.95 Td (nature ) Tj ET Q
q 0 0 0 rg BT 111.49 474.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 129.50 474.95 Td (jurisdiction ) Tj ET Q
q 0 0 0 rg BT 180.19 474.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 191.79 474.95 Td (reversals, ) Tj ET Q
q 0 0 0 rg BT 234.59 474.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 246.19 474.95 Td (well ) Tj ET Q
q 0 0 0 rg BT 267.12 474.95 Td (as, ) Tj ET Q
q 0 0 0 rg BT 281.35 474.95 Td (available ) Tj ET Q
q 0 0 0 rg BT 322.10 474.95 Td (planning ) Tj ET Q
q 0 0 0 rg BT 361.70 474.95 Td (strategies ) Tj ET Q
q 0 0 0 rg BT 404.21 474.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 415.23 474.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 440.82 474.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 458.84 474.95 Td (measure ) Tj ET Q
q 0 0 0 rg BT 496.67 474.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 512.35 474.95 Td (realizability ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 462.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.51 462.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 76.78 462.35 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 114.02 462.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 129.11 462.35 Td (assets. ) Tj ET Q
q 0 0 0 rg BT 158.50 462.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 160.77 462.35 Td (In ) Tj ET Q
q 0 0 0 rg BT 171.79 462.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 186.88 462.35 Td (event ) Tj ET Q
q 0 0 0 rg BT 211.89 462.35 Td (we ) Tj ET Q
q 0 0 0 rg BT 226.40 462.35 Td (determine ) Tj ET Q
q 0 0 0 rg BT 270.65 462.35 Td (all ) Tj ET Q
q 0 0 0 rg BT 283.41 462.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 294.42 462.35 Td (any ) Tj ET Q
q 0 0 0 rg BT 311.85 462.35 Td (portion ) Tj ET Q
q 0 0 0 rg BT 344.45 462.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 355.47 462.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 371.73 462.35 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 408.97 462.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 424.07 462.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 450.83 462.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 468.84 462.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 483.93 462.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 499.61 462.35 Td (already ) Tj ET Q
q 0 0 0 rg BT 532.78 462.35 Td (subject ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 449.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.02 449.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 67.03 449.75 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 108.45 449.75 Td (allowance ) Tj ET Q
q 0 0 0 rg BT 153.36 449.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 168.53 449.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 184.30 449.75 Td (realizable, ) Tj ET Q
q 0 0 0 rg BT 230.07 449.75 Td (we ) Tj ET Q
q 0 0 0 rg BT 244.67 449.75 Td (will ) Tj ET Q
q 0 0 0 rg BT 263.35 449.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 275.61 449.75 Td (required ) Tj ET Q
q 0 0 0 rg BT 312.94 449.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 323.46 449.75 Td (establish ) Tj ET Q
q 0 0 0 rg BT 362.56 449.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 369.57 449.75 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 410.99 449.75 Td (allowance ) Tj ET Q
q 0 0 0 rg BT 455.90 449.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 468.75 449.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 475.76 449.75 Td (char) Tj ET Q
q 0 0 0 rg BT 493.64 449.75 Td (ge ) Tj ET Q
q 0 0 0 rg BT 505.90 449.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 516.42 449.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 531.59 449.75 Td (income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 437.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 64.83 437.15 Td (provision ) Tj ET Q
q 0 0 0 rg BT 107.01 437.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 117.68 437.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 133.02 437.15 Td (period ) Tj ET Q
q 0 0 0 rg BT 162.35 437.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 173.02 437.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 201.19 437.15 Td (that ) Tj ET Q
q 0 0 0 rg BT 219.44 437.15 Td (determination ) Tj ET Q
q 0 0 0 rg BT 280.26 437.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 289.77 437.15 Td (made. ) Tj ET Q
q 0 0 0 rg BT 317.64 437.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 319.96 437.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 338.79 437.15 Td (values ) Tj ET Q
q 0 0 0 rg BT 368.13 437.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 379.38 437.15 Td (our ) Tj ET Q
q 0 0 0 rg BT 395.88 437.15 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 433.36 437.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 448.69 437.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 475.70 437.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 491.02 437.15 Td (based ) Tj ET Q
q 0 0 0 rg BT 517.43 437.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 530.44 437.15 Td (enacted ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 424.55 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 92.33 424.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 108.35 424.55 Td (rates ) Tj ET Q
q 0 0 0 rg BT 131.35 424.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 146.79 424.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 162.80 424.55 Td (future ) Tj ET Q
q 0 0 0 rg BT 191.06 424.55 Td (period ) Tj ET Q
q 0 0 0 rg BT 221.07 424.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 232.43 424.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 261.28 424.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 277.29 424.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 293.31 424.55 Td (attributes ) Tj ET Q
q 0 0 0 rg BT 335.57 424.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 351.57 424.55 Td (anticipated ) Tj ET Q
q 0 0 0 rg BT 400.82 424.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 412.18 424.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 425.28 424.55 Td (realized. ) Tj ET Q
q 0 0 0 rg BT 464.31 424.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 467.50 424.55 Td (Legislative ) Tj ET Q
q 0 0 0 rg BT 517.34 424.55 Td (changes ) Tj ET Q
q 0 0 0 rg BT 554.35 424.55 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 411.95 Td (these ) Tj ET Q
q 0 0 0 rg BT 74.09 411.95 Td (rates ) Tj ET Q
q 0 0 0 rg BT 96.92 411.95 Td (would ) Tj ET Q
q 0 0 0 rg BT 126.18 411.95 Td (require ) Tj ET Q
q 0 0 0 rg BT 158.93 411.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 166.60 411.95 Td (remeasurement ) Tj ET Q
q 0 0 0 rg BT 233.75 411.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 245.51 411.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 262.52 411.95 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 300.50 411.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 316.34 411.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 343.85 411.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 355.03 411.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 370.87 411.95 Td (period ) Tj ET Q
q 0 0 0 rg BT 400.71 411.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 412.47 411.95 Td (enactment. ) Tj ET Q
q 0 0 0 rg BT 461.25 411.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 464.26 411.95 Td (Depending ) Tj ET Q
q 0 0 0 rg BT 513.34 411.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 526.86 411.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 542.70 411.95 Td (facts ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 399.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.29 399.35 Td (circumstances, ) Tj ET Q
q 0 0 0 rg BT 132.01 399.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 147.46 399.35 Td (char) Tj ET Q
q 0 0 0 rg BT 165.34 399.35 Td (ge ) Tj ET Q
q 0 0 0 rg BT 177.88 399.35 Td (could ) Tj ET Q
q 0 0 0 rg BT 203.83 399.35 Td (be ) Tj ET Q
q 0 0 0 rg BT 216.37 399.35 Td (material ) Tj ET Q
q 0 0 0 rg BT 253.39 399.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 264.18 399.35 Td (our ) Tj ET Q
q 0 0 0 rg BT 280.80 399.35 Td (earnings.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.75 Td (On ) Tj ET Q
q 0 0 0 rg BT 64.73 376.75 Td (December ) Tj ET Q
q 0 0 0 rg BT 110.26 376.75 Td (22, ) Tj ET Q
q 0 0 0 rg BT 125.78 376.75 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 151.80 376.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 166.86 376.75 Td (T) Tj ET Q
q 0 0 0 rg BT 172.54 376.75 Td (ax ) Tj ET Q
q 0 0 0 rg BT 184.84 376.75 Td (Law ) Tj ET Q
q 0 0 0 rg BT 205.90 376.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 224.62 376.75 Td (enacted. ) Tj ET Q
q 0 0 0 rg BT 261.70 376.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 263.92 376.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 282.47 376.75 Td (T) Tj ET Q
q 0 0 0 rg BT 288.15 376.75 Td (ax ) Tj ET Q
q 0 0 0 rg BT 300.46 376.75 Td (Law ) Tj ET Q
q 0 0 0 rg BT 321.51 376.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 330.91 376.75 Td (complex, ) Tj ET Q
q 0 0 0 rg BT 372.09 376.75 Td (materially ) Tj ET Q
q 0 0 0 rg BT 417.05 376.75 Td (changes ) Tj ET Q
q 0 0 0 rg BT 453.26 376.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 468.49 376.75 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 489.56 376.75 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 531.59 376.75 Td (income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 364.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 65.22 364.15 Td (rate ) Tj ET Q
q 0 0 0 rg BT 83.84 364.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 107.14 364.15 Td (35% ) Tj ET Q
q 0 0 0 rg BT 129.28 364.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 140.33 364.15 Td (21%, ) Tj ET Q
q 0 0 0 rg BT 165.09 364.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 183.14 364.15 Td (includes ) Tj ET Q
q 0 0 0 rg BT 221.03 364.15 Td (various ) Tj ET Q
q 0 0 0 rg BT 254.83 364.15 Td (other ) Tj ET Q
q 0 0 0 rg BT 279.29 364.15 Td (changes ) Tj ET Q
q 0 0 0 rg BT 316.00 364.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 344.55 364.15 Td (will ) Tj ET Q
q 0 0 0 rg BT 363.77 364.15 Td (impact ) Tj ET Q
q 0 0 0 rg BT 395.24 364.15 Td (us. ) Tj ET Q
q 0 0 0 rg BT 410.09 364.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 412.77 364.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 431.98 364.15 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 474.52 364.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 485.58 364.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 501.30 364.15 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 522.86 364.15 Td (corporate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 64.70 351.55 Td (rate ) Tj ET Q
q 0 0 0 rg BT 82.80 351.55 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 118.41 351.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 128.95 351.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 135.98 351.55 Td (one-time, ) Tj ET Q
q 0 0 0 rg BT 178.30 351.55 Td (non-cash ) Tj ET Q
q 0 0 0 rg BT 218.57 351.55 Td (provisional ) Tj ET Q
q 0 0 0 rg BT 268.19 351.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 283.39 351.55 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 314.91 351.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 325.45 351.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 340.64 351.55 Td (quarter ) Tj ET Q
q 0 0 0 rg BT 372.75 351.55 Td (ended ) Tj ET Q
q 0 0 0 rg BT 400.19 351.55 Td (December ) Tj ET Q
q 0 0 0 rg BT 445.70 351.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 461.19 351.55 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 487.19 351.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 498.30 351.55 Td ($220.9 ) Tj ET Q
q 0 0 0 rg BT 529.55 351.55 Td (million, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.95 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 87.87 338.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 109.91 338.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 124.36 338.95 Td (re-measurement ) Tj ET Q
q 0 0 0 rg BT 193.62 338.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 203.99 338.95 Td (certain ) Tj ET Q
q 0 0 0 rg BT 234.18 338.95 Td (existing ) Tj ET Q
q 0 0 0 rg BT 269.05 338.95 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 305.65 338.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 320.11 338.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 346.23 338.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 363.02 338.95 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 403.72 338.95 Td (at ) Tj ET Q
q 0 0 0 rg BT 412.92 338.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 427.38 338.95 Td (new ) Tj ET Q
q 0 0 0 rg BT 446.50 338.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 479.03 338.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 493.48 338.95 Td (rate. ) Tj ET Q
q 0 0 0 rg BT 513.47 338.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 515.09 338.95 Td (In ) Tj ET Q
q 0 0 0 rg BT 525.47 338.95 Td (addition, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 326.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 57.12 326.35 Td (non-cash ) Tj ET Q
q 0 0 0 rg BT 97.99 326.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 113.78 326.35 Td (char) Tj ET Q
q 0 0 0 rg BT 131.65 326.35 Td (ge ) Tj ET Q
q 0 0 0 rg BT 144.53 326.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 156.23 326.35 Td ($7.3 ) Tj ET Q
q 0 0 0 rg BT 177.57 326.35 Td (million ) Tj ET Q
q 0 0 0 rg BT 210.87 326.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 230.16 326.35 Td (provisionally ) Tj ET Q
q 0 0 0 rg BT 288.53 326.35 Td (provided ) Tj ET Q
q 0 0 0 rg BT 328.82 326.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 339.95 326.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 355.74 326.35 Td (quarter ) Tj ET Q
q 0 0 0 rg BT 388.43 326.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 416.46 326.35 Td (December ) Tj ET Q
q 0 0 0 rg BT 462.56 326.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 478.65 326.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 505.23 326.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 520.44 326.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 536.23 326.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 552.02 326.35 Td (on ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.96 313.75 Td (deemed ) Tj ET Q
q 0 0 0 rg BT 100.25 313.75 Td (repatriation ) Tj ET Q
q 0 0 0 rg BT 151.28 313.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 162.67 313.75 Td (unremitted ) Tj ET Q
q 0 0 0 rg BT 210.79 313.75 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 243.75 313.75 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 281.96 313.75 Td (under ) Tj ET Q
q 0 0 0 rg BT 308.50 313.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 323.78 313.75 Td (T) Tj ET Q
q 0 0 0 rg BT 329.46 313.75 Td (ax ) Tj ET Q
q 0 0 0 rg BT 342.00 313.75 Td (Law) Tj ET Q
q 0 0 0 rg BT 359.98 313.75 Td (. ) Tj ET Q
q 0 0 0 rg BT 365.24 313.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 367.69 313.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 386.65 313.75 Td (re-measurement ) Tj ET Q
q 0 0 0 rg BT 456.92 313.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 468.30 313.75 Td (our ) Tj ET Q
q 0 0 0 rg BT 484.93 313.75 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 522.54 313.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 538.01 313.75 Td (assets ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 301.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.01 301.15 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 108.45 301.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 117.81 301.15 Td (subject ) Tj ET Q
q 0 0 0 rg BT 149.90 301.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 160.42 301.15 Td (further ) Tj ET Q
q 0 0 0 rg BT 191.34 301.15 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 243.86 301.15 Td (during ) Tj ET Q
q 0 0 0 rg BT 273.63 301.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 288.81 301.15 Td (measurement ) Tj ET Q
q 0 0 0 rg BT 347.14 301.15 Td (period ) Tj ET Q
q 0 0 0 rg BT 376.32 301.15 Td (due ) Tj ET Q
q 0 0 0 rg BT 393.83 301.15 Td (to ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 54.68 603.30 Td (Integrated ) Tj ET Q
q 0 0 0 rg BT 98.92 603.30 Td (Framework ) Tj ET Q
q 0 0 0 rg BT 149.01 603.30 Td (\(2013\) ) Tj ET Q
q 0 0 0 rg BT 178.68 603.30 Td (issued ) Tj ET Q
q 0 0 0 rg BT 206.61 603.30 Td (by ) Tj ET Q
q 0 0 0 rg BT 218.80 603.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 233.31 603.30 Td (Committee ) Tj ET Q
q 0 0 0 rg BT 281.65 603.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 292.08 603.30 Td (Sponsoring ) Tj ET Q
q 0 0 0 rg BT 341.60 603.30 Td (Or) Tj ET Q
q 0 0 0 rg BT 352.49 603.30 Td (ganizations ) Tj ET Q
q 0 0 0 rg BT 401.99 603.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 412.42 603.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 426.81 603.30 Td (T) Tj ET Q
q 0 0 0 rg BT 432.85 603.30 Td (readway ) Tj ET Q
q 0 0 0 rg BT 470.10 603.30 Td (Commission ) Tj ET Q
q 0 0 0 rg BT 524.87 603.30 Td (\(COSO\).) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 578.10 Td (In ) Tj ET Q
q 0 0 0 rg BT 61.07 578.10 Td (our ) Tj ET Q
q 0 0 0 rg BT 77.90 578.10 Td (opinion, ) Tj ET Q
q 0 0 0 rg BT 115.44 578.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 131.09 578.10 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 186.99 578.10 Td (financial ) Tj ET Q
q 0 0 0 rg BT 226.55 578.10 Td (statements ) Tj ET Q
q 0 0 0 rg BT 273.70 578.10 Td (referred ) Tj ET Q
q 0 0 0 rg BT 309.75 578.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 320.74 578.10 Td (above ) Tj ET Q
q 0 0 0 rg BT 348.64 578.10 Td (present ) Tj ET Q
q 0 0 0 rg BT 381.79 578.10 Td (fairly) Tj ET Q
q 0 0 0 rg BT 403.85 578.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 409.30 578.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 420.30 578.10 Td (all ) Tj ET Q
q 0 0 0 rg BT 433.62 578.10 Td (material ) Tj ET Q
q 0 0 0 rg BT 470.84 578.10 Td (respects, ) Tj ET Q
q 0 0 0 rg BT 510.12 578.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 525.77 578.10 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.50 Td (position ) Tj ET Q
q 0 0 0 rg BT 85.83 565.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 97.08 565.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 112.40 565.50 Td (Company ) Tj ET Q
q 0 0 0 rg BT 155.73 565.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 166.97 565.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 178.21 565.50 Td (March ) Tj ET Q
q 0 0 0 rg BT 208.11 565.50 Td (31, ) Tj ET Q
q 0 0 0 rg BT 223.73 565.50 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 247.23 565.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 264.88 565.50 Td (March ) Tj ET Q
q 0 0 0 rg BT 294.78 565.50 Td (31, ) Tj ET Q
q 0 0 0 rg BT 310.41 565.50 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 336.53 565.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 354.18 565.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 369.51 565.50 Td (results ) Tj ET Q
q 0 0 0 rg BT 399.42 565.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 410.66 565.50 Td (their ) Tj ET Q
q 0 0 0 rg BT 432.40 565.50 Td (operations ) Tj ET Q
q 0 0 0 rg BT 478.63 565.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 496.29 565.50 Td (their ) Tj ET Q
q 0 0 0 rg BT 518.03 565.50 Td (cash ) Tj ET Q
q 0 0 0 rg BT 539.18 565.50 Td (flows ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 64.15 552.90 Td (each ) Tj ET Q
q 0 0 0 rg BT 85.78 552.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 96.93 552.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 112.16 552.90 Td (three ) Tj ET Q
q 0 0 0 rg BT 135.54 552.90 Td (years ) Tj ET Q
q 0 0 0 rg BT 160.10 552.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 170.67 552.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 185.90 552.90 Td (period ) Tj ET Q
q 0 0 0 rg BT 215.13 552.90 Td (ended ) Tj ET Q
q 0 0 0 rg BT 242.60 552.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 272.41 552.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 287.93 552.90 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 311.33 552.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 321.90 552.90 Td (conformity ) Tj ET Q
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q 0 0 0 rg BT 392.03 552.90 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 440.50 552.90 Td (principles ) Tj ET Q
q 0 0 0 rg BT 484.31 552.90 Td (generally ) Tj ET Q
q 0 0 0 rg BT 525.77 552.90 Td (accepted ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.69 540.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 76.54 540.30 Td (United ) Tj ET Q
q 0 0 0 rg BT 108.14 540.30 Td (States ) Tj ET Q
q 0 0 0 rg BT 136.25 540.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 147.35 540.30 Td (America. ) Tj ET Q
q 0 0 0 rg BT 188.48 540.30 Td (Also ) Tj ET Q
q 0 0 0 rg BT 211.33 540.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 222.52 540.30 Td (our ) Tj ET Q
q 0 0 0 rg BT 239.54 540.30 Td (opinion, ) Tj ET Q
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q 0 0 0 rg BT 293.13 540.30 Td (Company ) Tj ET Q
q 0 0 0 rg BT 336.98 540.30 Td (maintained, ) Tj ET Q
q 0 0 0 rg BT 389.28 540.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 400.47 540.30 Td (all ) Tj ET Q
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q 0 0 0 rg BT 490.88 540.30 Td (ef) Tj ET Q
q 0 0 0 rg BT 498.84 540.30 Td (fective ) Tj ET Q
q 0 0 0 rg BT 530.43 540.30 Td (internal ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.70 Td (control ) Tj ET Q
q 0 0 0 rg BT 80.89 527.70 Td (over ) Tj ET Q
q 0 0 0 rg BT 101.19 527.70 Td (financial ) Tj ET Q
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q 0 0 0 rg BT 190.08 527.70 Td (of ) Tj ET Q
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q 0 0 0 rg BT 269.55 527.70 Td (based ) Tj ET Q
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q 0 0 0 rg BT 386.92 527.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 396.73 527.70 Td (Internal ) Tj ET Q
q 0 0 0 rg BT 431.02 527.70 Td (Control ) Tj ET Q
q 0 0 0 rg BT 464.75 527.70 Td (- ) Tj ET Q
q 0 0 0 rg BT 469.89 527.70 Td (Integrated ) Tj ET Q
q 0 0 0 rg BT 514.09 527.70 Td (Framework ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 515.10 Td (\(2013\) ) Tj ET Q
q 0 0 0 rg BT 80.12 515.10 Td (issued ) Tj ET Q
q 0 0 0 rg BT 108.99 515.10 Td (by ) Tj ET Q
q 0 0 0 rg BT 122.12 515.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 137.57 515.10 Td (COSO.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.90 Td (Basis for) Tj ET Q
q 0 0 0 rg BT 88.69 489.90 Td ( Opinions) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.30 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.89 477.30 Td (Company's ) Tj ET Q
q 0 0 0 rg BT 118.76 477.30 Td (management ) Tj ET Q
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q 0 0 0 rg BT 332.51 477.30 Td (financial ) Tj ET Q
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q 0 0 0 rg BT 498.81 477.30 Td (fective ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.70 Td (control ) Tj ET Q
q 0 0 0 rg BT 82.96 464.70 Td (over ) Tj ET Q
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q 0 0 0 rg BT 376.84 464.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 389.30 464.70 Td (internal ) Tj ET Q
q 0 0 0 rg BT 425.09 464.70 Td (control ) Tj ET Q
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q 0 0 0 rg BT 521.38 464.70 Td (reporting, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 452.10 Td (included ) Tj ET Q
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q 0 0 0 rg BT 99.74 452.10 Td (the ) Tj ET Q
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q 0 0 0 rg BT 179.72 452.10 Td (Report ) Tj ET Q
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q 0 0 0 rg BT 222.96 452.10 Td (Management ) Tj ET Q
q 0 0 0 rg BT 280.73 452.10 Td (on ) Tj ET Q
q 0 0 0 rg BT 294.19 452.10 Td (Internal ) Tj ET Q
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q 0 0 0 rg BT 428.50 452.10 Td (Reporting. ) Tj ET Q
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q 0 0 0 rg BT 555.49 452.10 Td (is ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 92.83 439.50 Td (opinions ) Tj ET Q
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q 0 0 0 rg BT 262.42 439.50 Td (financial ) Tj ET Q
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q 0 0 0 rg BT 364.15 439.50 Td (on ) Tj ET Q
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q 0 0 0 rg BT 525.78 439.50 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.90 Td (reporting ) Tj ET Q
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q 0 0 0 rg BT 521.10 426.90 Td (Oversight ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.30 Td (Board ) Tj ET Q
q 0 0 0 rg BT 77.75 414.30 Td (\(United ) Tj ET Q
q 0 0 0 rg BT 112.42 414.30 Td (States\) ) Tj ET Q
q 0 0 0 rg BT 143.59 414.30 Td (\("PCAOB"\) ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 389.10 Td (PCAOB.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.90 Td (W) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.30 Td (the ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.70 Td (misstatement, ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 326.10 Td (in ) Tj ET Q
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q 0 0 0 rg BT 73.41 326.10 Td (material ) Tj ET Q
q 0 0 0 rg BT 110.44 326.10 Td (respects.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.90 Td (Our ) Tj ET Q
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q 0 0 0 rg BT 93.59 300.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 103.67 300.90 Td (the ) Tj ET Q
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q 0 0 0 rg BT 389.44 300.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 398.94 300.90 Td (assess ) Tj ET Q
q 0 0 0 rg BT 425.94 300.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 440.11 300.90 Td (risks ) Tj ET Q
q 0 0 0 rg BT 461.28 300.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 471.37 300.90 Td (material ) Tj ET Q
q 0 0 0 rg BT 507.10 300.90 Td (misstatement ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.53 288.30 Td (the ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F2 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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511.50 165.85 50.00 -12.00 re f
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511.50 142.85 50.00 -11.00 re f
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511.5 350.85 m
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404.5 222.85000000000002 m
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458.5 222.85000000000002 m
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511.5 222.85000000000002 m
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511.5 153.85000000000002 m
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404.5 142.85000000000002 m
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511.5 142.85000000000002 m
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454.5 142.85000000000002 m
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404.5 73.85000000000002 m
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 459.80 702.16 Td (Y) Tj ET Q
q 0 0 0 rg BT 465.40 702.16 Td (ears Ended) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 420.00 691.30 Td (2018) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 473.50 691.16 Td (2017) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 527.00 691.16 Td (2016) Tj ET Q
BT /F2 8.50 Tf ET
q 0 0 0 rg BT 52.00 680.59 Td (ST) Tj ET Q
q 0 0 0 rg BT 62.32 680.59 Td (OCKHOLDERS' EQUITY) Tj ET Q
q 0 0 0 rg BT 161.04 680.59 Td ( ) Tj ET Q
q 0 0 0 rg BT 162.77 680.59 Td (A) Tj ET Q
q 0 0 0 rg BT 168.36 680.59 Td (TTRIBUT) Tj ET Q
q 0 0 0 rg BT 205.99 680.59 Td (ABLE ) Tj ET Q
q 0 0 0 rg BT 230.87 680.59 Td (T) Tj ET Q
q 0 0 0 rg BT 236.39 680.59 Td (O LEGG MASON, INC.) Tj ET Q
BT /F2 8.50 Tf ET
q 0 0 0 rg BT 56.50 669.64 Td (COMMON ST) Tj ET Q
q 0 0 0 rg BT 110.49 669.64 Td (OCK) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 660.11 Td (Beginning balance) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 407.00 660.25 Td ($) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 430.75 660.25 Td (9,573) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 461.00 660.11 Td ($) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 479.25 660.11 Td (10,701) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 514.00 660.11 Td ($) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 533.25 660.11 Td (1) Tj ET Q
q 0 0 0 rg BT 537.75 660.11 Td (1,147) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 648.11 Td (Stock options exercised) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 442.00 648.25 Td (47) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 495.00 648.11 Td (32) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 549.00 648.11 Td (33) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 636.11 Td (Deferred compensation employee stock trust) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 446.50 636.25 Td (1) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 499.50 636.11 Td (2) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 553.50 636.11 Td (2) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 624.11 Td (Stock-based compensation) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 442.00 624.25 Td (95) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 495.00 624.11 Td (45) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 549.00 624.11 Td (14) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 612.11 Td (Employee tax withholdings by settlement of net share transactions) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 439.00 612.25 Td (\(35) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 451.00 612.25 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 492.00 612.11 Td (\(37) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 612.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 546.00 612.11 Td (\(41) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 612.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 600.11 Td (Shares repurchased and retired) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 427.75 600.25 Td (\(1,220) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 451.00 600.25 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 480.75 600.11 Td (\(1,170) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 600.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 541.50 600.11 Td (\(454) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 600.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 588.11 Td (Ending balance) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 430.75 588.25 Td (8,461) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 483.75 588.11 Td (9,573) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 533.25 588.11 Td (10,701) Tj ET Q
BT /F2 8.50 Tf ET
q 0 0 0 rg BT 56.50 576.59 Td (ADDITIONAL) Tj ET Q
q 0 0 0 rg BT 111.53 576.59 Td ( P) Tj ET Q
q 0 0 0 rg BT 118.29 576.59 Td (AID-IN CAPIT) Tj ET Q
q 0 0 0 rg BT 174.10 576.59 Td (AL) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 565.11 Td (Beginning balance) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 415.00 565.25 Td (2,385,726) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 468.00 565.11 Td (2,693,1) Tj ET Q
q 0 0 0 rg BT 495.00 565.11 Td (13) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 522.00 565.11 Td (2,844,441) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 553.11 Td (Stock options exercised) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 426.25 553.25 Td (14,024) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 483.75 553.11 Td (8,958) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 537.75 553.11 Td (9,482) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 541.11 Td (Deferred compensation employee stock trust) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 437.50 541.25 Td (554) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 490.50 541.11 Td (514) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 544.50 541.11 Td (505) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 529.11 Td (Stock-based compensation) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 426.25 529.25 Td (70,277) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 479.25 529.11 Td (71,494) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 533.25 529.11 Td (65,373) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 517.11 Td (Performance-based restricted share units related to the acquisition of Clarion Partners) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 442.00 517.25 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 479.25 517.11 Td (1) Tj ET Q
q 0 0 0 rg BT 483.75 517.11 Td (1,121) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 549.00 517.11 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 505.11 Td (Additional tax benefit on Equity Unit exchange in fiscal 2010) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 442.00 505.25 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 495.00 505.11 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 537.75 505.11 Td (9,173) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 493.11 Td (Employee tax withholdings by settlement of net share transactions) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 423.25 493.25 Td (\(13,198) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 451.00 493.25 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 476.25 493.11 Td (\(12,102) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 493.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 530.25 493.11 Td (\(21,596) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 493.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 481.11 Td (Shares repurchased and retired) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 418.75 481.25 Td (\(477,919) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 451.00 481.25 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 471.75 481.11 Td (\(380,502) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 481.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 525.75 481.11 Td (\(209,178) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 481.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 469.11 Td (Redeemable noncontrolling interest reclassification for af) Tj ET Q
q 0 0 0 rg BT 274.09 469.11 Td (filiate management equity plans) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 427.75 469.25 Td (\(3,100) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 451.00 469.25 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 480.75 469.11 Td (\(6,870) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 469.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 534.75 469.11 Td (\(5,087) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 469.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 457.11 Td (Ending balance) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 415.00 457.25 Td (1,976,364) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 468.00 457.11 Td (2,385,726) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 522.00 457.11 Td (2,693,1) Tj ET Q
q 0 0 0 rg BT 549.00 457.11 Td (13) Tj ET Q
BT /F2 8.50 Tf ET
q 0 0 0 rg BT 56.50 445.59 Td (EMPLOYEE ST) Tj ET Q
q 0 0 0 rg BT 117.59 445.59 Td (OCK ) Tj ET Q
q 0 0 0 rg BT 138.92 445.59 Td (TRUST) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 434.11 Td (Beginning balance) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 423.25 434.25 Td (\(24,057) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 451.00 434.25 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 476.25 434.11 Td (\(26,263) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 434.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 530.25 434.11 Td (\(29,570) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 434.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 422.11 Td (Shares issued to plans) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 434.50 422.25 Td (\(555) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 451.00 422.25 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 487.50 422.11 Td (\(516) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 422.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 541.50 422.11 Td (\(507) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 422.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 410.16 Td (Distributions and forfeitures) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 430.75 410.30 Td (2,616) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 483.75 410.16 Td (2,722) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 537.75 410.16 Td (3,814) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 400.11 Td (Ending balance) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 423.25 400.25 Td (\(21,996) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 451.00 400.25 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 476.25 400.11 Td (\(24,057) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 400.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 530.25 400.11 Td (\(26,263) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 400.11 Td (\)) Tj ET Q
BT /F2 8.50 Tf ET
q 0 0 0 rg BT 56.50 388.59 Td (DEFERRED COMPENSA) Tj ET Q
q 0 0 0 rg BT 153.71 388.59 Td (TION EMPLOYEE ST) Tj ET Q
q 0 0 0 rg BT 238.33 388.59 Td (OCK ) Tj ET Q
q 0 0 0 rg BT 259.67 388.59 Td (TRUST) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 377.11 Td (Beginning balance) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 426.25 377.25 Td (24,057) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 479.25 377.11 Td (26,263) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 533.25 377.11 Td (29,570) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 365.16 Td (Shares issued to plans) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 437.50 365.30 Td (555) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 490.50 365.16 Td (516) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 544.50 365.16 Td (507) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 354.11 Td (Distributions and forfeitures) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 427.75 354.25 Td (\(2,616) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 451.00 354.25 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 480.75 354.11 Td (\(2,722) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 354.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 534.75 354.11 Td (\(3,814) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 354.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 342.11 Td (Ending balance) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 426.25 342.25 Td (21,996) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 479.25 342.11 Td (24,057) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 533.25 342.11 Td (26,263) Tj ET Q
BT /F2 8.50 Tf ET
q 0 0 0 rg BT 56.50 330.59 Td (RET) Tj ET Q
q 0 0 0 rg BT 73.66 330.59 Td (AINED EARNINGS) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 319.11 Td (Beginning balance) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 415.00 319.25 Td (1,694,859) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 468.00 319.11 Td (1,576,242) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 522.00 319.11 Td (1,690,055) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 307.11 Td (Net Income \(Loss\) ) Tj ET Q
q 0 0 0 rg BT 136.48 307.11 Td (Attributable to Legg Mason, Inc.) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 421.75 307.25 Td (285,075) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 474.75 307.11 Td (227,256) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 530.25 307.11 Td (\(25,032) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 307.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 295.16 Td (Dividends declared) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 418.75 295.30 Td (\(105,169) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 451.00 295.30 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 476.25 295.16 Td (\(90,578) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 295.16 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 530.25 295.16 Td (\(87,818) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 295.16 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 285.11 Td (Reclassifications to noncontrolling interest for:) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 76.00 273.11 Td (EnT) Tj ET Q
q 0 0 0 rg BT 91.18 273.11 Td (rustPermal combination) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 442.00 273.25 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 476.25 273.11 Td (\(15,500) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 273.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 549.00 273.11 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 76.00 260.31 Td (Net increase in estimated redemption value of af) Tj ET Q
q 0 0 0 rg BT 250.52 260.31 Td (filiate management equity plans and) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 85.00 251.31 Td (af) Tj ET Q
q 0 0 0 rg BT 91.83 251.31 Td (filiate noncontrolling interests) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 427.75 251.30 Td (\(4,330) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 451.00 251.30 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 480.75 251.31 Td (\(2,561) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 251.31 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 541.50 251.31 Td (\(963) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 251.31 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 238.11 Td (Adoption of new stock-based compensation guidance) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 426.25 238.25 Td (24,327) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 495.00 238.11 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 549.00 238.11 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 226.11 Td (Ending balance) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 415.00 226.25 Td (1,894,762) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 468.00 226.11 Td (1,694,859) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 522.00 226.11 Td (1,576,242) Tj ET Q
BT /F2 8.50 Tf ET
q 0 0 0 rg BT 56.50 214.59 Td (ACCUMULA) Tj ET Q
q 0 0 0 rg BT 106.71 214.59 Td (TED OTHER COMPREHENSIVE INCOME \(LOSS\), NET) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 203.11 Td (Beginning balance) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 418.75 203.25 Td (\(106,784) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 451.00 203.25 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 476.25 203.11 Td (\(66,493) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 203.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 530.25 203.11 Td (\(60,742) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 203.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 191.11 Td (Changes in defined benefit pension plan) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 430.75 191.25 Td (3,046) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 480.75 191.11 Td (\(9,860) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 191.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 537.75 191.11 Td (2,774) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 179.16 Td (Foreign currency translation adjustment) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 426.25 179.30 Td (48,556) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 476.25 179.16 Td (\(32,924) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 179.16 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 534.75 179.16 Td (\(8,525) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 179.16 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 168.16 Td (Reclassification of cumulative foreign currency translation on Legg Mason Poland sale) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 442.00 168.30 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 483.75 168.16 Td (2,493) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 549.00 168.16 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 67.00 157.11 Td (Ending balance) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 423.25 157.25 Td (\(55,182) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 451.00 157.25 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 471.75 157.11 Td (\(106,784) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 504.00 157.11 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 530.25 157.11 Td (\(66,493) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 558.00 157.11 Td (\)) Tj ET Q
BT /F2 8.50 Tf ET
q 0 0 0 rg BT 52.00 145.59 Td (T) Tj ET Q
q 0 0 0 rg BT 57.59 145.59 Td (OT) Tj ET Q
q 0 0 0 rg BT 69.48 145.59 Td (AL) Tj ET Q
q 0 0 0 rg BT 80.74 145.59 Td ( ST) Tj ET Q
q 0 0 0 rg BT 92.95 145.59 Td (OCKHOLDERS�) Tj ET Q
q 0 0 0 rg BT 156.32 145.59 Td ( EQUITY) Tj ET Q
q 0 0 0 rg BT 191.51 145.59 Td ( ) Tj ET Q
q 0 0 0 rg BT 193.24 145.59 Td (A) Tj ET Q
q 0 0 0 rg BT 198.83 145.59 Td (TTRIBUT) Tj ET Q
q 0 0 0 rg BT 236.46 145.59 Td (ABLE ) Tj ET Q
q 0 0 0 rg BT 261.34 145.59 Td (T) Tj ET Q
q 0 0 0 rg BT 266.86 145.59 Td (O LEGG MASON, INC.) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 415.00 145.30 Td (3,824,405) Tj ET Q
BT /F1 9.00 Tf ET
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379.50 386.60 58.00 -15.00 re f
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437.50 386.60 4.00 -15.00 re f
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441.50 386.60 59.00 -15.00 re f
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500.50 386.60 4.00 -15.00 re f
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504.50 386.60 58.00 -15.00 re f
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437.50 356.60 4.00 -15.00 re f
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441.50 356.60 59.00 -15.00 re f
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500.50 356.60 4.00 -15.00 re f
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504.50 356.60 58.00 -15.00 re f
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50.50 326.60 325.00 -15.00 re f
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375.50 326.60 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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379.50 326.60 58.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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437.50 326.60 4.00 -15.00 re f
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441.50 326.60 59.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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500.50 326.60 4.00 -15.00 re f
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504.50 326.60 58.00 -15.00 re f
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50.50 296.60 325.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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375.50 296.60 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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379.50 296.60 58.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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437.50 296.60 4.00 -15.00 re f
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441.50 296.60 59.00 -15.00 re f
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500.50 296.60 4.00 -15.00 re f
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504.50 296.60 58.00 -15.00 re f
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50.50 266.60 325.00 -15.00 re f
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375.50 266.60 4.00 -15.00 re f
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379.50 266.60 58.00 -15.00 re f
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437.50 266.60 4.00 -15.00 re f
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441.50 266.60 59.00 -15.00 re f
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500.50 266.60 4.00 -15.00 re f
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504.50 266.60 58.00 -15.00 re f
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50.50 236.60 325.00 -15.00 re f
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375.50 236.60 4.00 -15.00 re f
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379.50 236.60 58.00 -15.00 re f
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437.50 236.60 4.00 -15.00 re f
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441.50 236.60 59.00 -15.00 re f
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500.50 236.60 4.00 -15.00 re f
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1.00 w
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0 J
0 j
3 M
379.5 663.6 m
437.5 663.6 l
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1.00 w
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3 M
437.5 663.6 m
441.5 663.6 l
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1.00 w
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3 M
441.5 663.6 m
500.5 663.6 l
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3 M
500.5 663.6 m
504.5 663.6 l
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3 M
504.5 663.6 m
562.5 663.6 l
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3 M
50.5 648.6 m
375.5 648.6 l
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3 M
379.5 648.6 m
437.5 648.6 l
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3 M
441.5 663.6 m
500.5 663.6 l
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3 M
441.5 648.6 m
500.5 648.6 l
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3 M
504.5 663.6 m
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3 M
504.5 648.6 m
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3 M
50.5 648.6 m
375.5 648.6 l
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3 M
379.5 648.6 m
437.5 648.6 l
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3 M
441.5 648.6 m
500.5 648.6 l
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3 M
504.5 648.6 m
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3 M
50.5 521.6 m
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3 M
50.5 506.6 m
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3 M
379.5 521.6 m
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3 M
379.5 506.6 m
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3 M
441.5 521.6 m
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3 M
441.5 506.6 m
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3 M
504.5 521.6 m
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3 M
504.5 506.6 m
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3 M
50.5 506.6 m
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3 M
50.5 341.6 m
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3 M
50.5 326.6 m
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3 M
379.5 341.6 m
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[] 0 d
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3 M
379.5 326.6 m
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[] 0 d
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3 M
441.5 341.6 m
500.5 341.6 l
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[] 0 d
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3 M
441.5 326.6 m
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3 M
504.5 341.6 m
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[] 0 d
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3 M
504.5 326.6 m
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[] 0 d
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3 M
504.5 326.6 m
562.5 326.6 l
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1.00 w
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[] 0 d
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3 M
379.5 281.6 m
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3 M
441.5 281.6 m
500.5 281.6 l
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1.00 w
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[] 0 d
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3 M
504.5 281.6 m
562.5 281.6 l
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3 M
50.5 281.6 m
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3 M
50.5 266.6 m
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3 M
379.5 266.6 m
437.5 266.6 l
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1.00 w
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[] 0 d
0 J
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3 M
441.5 266.6 m
500.5 266.6 l
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1.00 w
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[] 0 d
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3 M
504.5 281.6 m
562.5 281.6 l
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[] 0 d
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3 M
504.5 266.6 m
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[] 0 d
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3 M
379.5 266.6 m
437.5 266.6 l
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3 M
441.5 266.6 m
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 668.37 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 421.15 668.37 Td (Y) Tj ET Q
q 0 0 0 rg BT 428.21 668.37 Td (ears Ended March 31,) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 653.37 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 397.50 653.39 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 460.00 653.37 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 522.50 653.37 Td (2016) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 53.00 638.39 Td (CASH FLOWS FROM INVESTING ) Tj ET Q
q 0 0 0 rg BT 221.32 638.39 Td (ACTIVITIES) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 497.00 638.37 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 71.00 623.37 Td (Payments for fixed assets) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 382.00 623.39 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 401.10 623.39 Td (\(37,346) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 433.50 623.39 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 444.00 623.37 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 464.10 623.37 Td (\(39,977) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.50 623.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 507.00 623.37 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 526.10 623.37 Td (\(40,330) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 623.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 71.00 607.87 Td (Business investments and acquisitions, net of cash acquired of $33,547) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 75.50 597.37 Td (and $9,667 in fiscal 2017 and 2016, respectively) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 406.35 597.39 Td (\(2,950) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 433.50 597.39 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 451.00 597.37 Td (\(1,010,428) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.50 597.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 520.85 597.37 Td (\(234,053) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 597.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 71.00 582.37 Td (Proceeds from sale of businesses) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 423.00 582.39 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 467.60 582.37 Td (19,469) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 548.00 582.37 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 71.00 567.37 Td (Contingent payment from prior sale of businesses) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 409.85 567.39 Td (6,028) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 486.00 567.37 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 548.00 567.37 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 71.00 552.37 Td (Change in restricted cash) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 401.10 552.39 Td (\(13,772) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 433.50 552.39 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 472.85 552.37 Td (2,982) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.60 552.37 Td (21,065) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 71.00 536.87 Td (Returns of capital and proceeds from sales and maturities of) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 71.00 526.37 Td (investments) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 409.85 526.39 Td (9,068) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 472.85 526.37 Td (8,289) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.85 526.37 Td (8,749) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 53.00 511.39 Td (CASH USED IN INVESTING ) Tj ET Q
q 0 0 0 rg BT 191.00 511.39 Td (ACTIVITIES) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 401.10 511.39 Td (\(38,972) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 433.50 511.39 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 451.00 511.37 Td (\(1,019,665) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.50 511.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 520.85 511.37 Td (\(244,569) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 511.37 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 53.00 496.39 Td (CASH FLOWS FROM FINANCING ) Tj ET Q
q 0 0 0 rg BT 223.05 496.39 Td (ACTIVITIES) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 444.00 496.37 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 71.00 481.37 Td (Repurchases of common stock) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 395.85 481.39 Td (\(479,139) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 433.50 481.39 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 458.85 481.37 Td (\(381,672) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.50 481.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 520.85 481.37 Td (\(209,632) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 481.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 71.00 466.37 Td (Dividends paid) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 395.85 466.39 Td (\(102,178) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 433.50 466.39 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 464.10 466.37 Td (\(87,897) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.50 466.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 526.10 466.37 Td (\(84,093) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 466.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 71.00 451.37 Td (Distributions to af) Tj ET Q
q 0 0 0 rg BT 147.32 451.37 Td (filiate noncontrolling interests) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 401.10 451.39 Td (\(61,858) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 433.50 451.39 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 464.10 451.37 Td (\(35,862) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.50 451.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 531.35 451.37 Td (\(1,016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 451.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 71.00 436.37 Td (Net subscriptions \(redemptions\) attributable to noncontrolling interests) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 404.60 436.39 Td (57,228) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 464.10 436.37 Td (\(44,587) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.50 436.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.60 436.37 Td (68,639) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 71.00 421.37 Td (Employee tax withholdings by settlement of net share transactions) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 401.10 421.39 Td (\(13,233) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 433.50 421.39 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 464.10 421.37 Td (\(12,139) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.50 421.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 526.10 421.37 Td (\(21,637) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 421.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 71.00 406.37 Td (Issuances of common stock for stock-based compensation) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 404.60 406.39 Td (14,626) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 472.85 406.37 Td (9,506) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.60 406.37 Td (10,022) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 357.67 489.90 Td (year ) Tj ET Q
q 0 0 0 rg BT 378.57 489.90 Td (ended ) Tj ET Q
q 0 0 0 rg BT 406.48 489.90 Td (March�31 ) Tj ET Q
q 0 0 0 rg BT 449.84 489.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 461.42 489.90 Td (that ) Tj ET Q
q 0 0 0 rg BT 480.00 489.90 Td (year) Tj ET Q
q 0 0 0 rg BT 497.49 489.90 Td (. ) Tj ET Q
q 0 0 0 rg BT 502.75 489.90 Td (T) Tj ET Q
q 0 0 0 rg BT 508.43 489.90 Td (erms ) Tj ET Q
q 0 0 0 rg BT 531.68 489.90 Td (such ) Tj ET Q
q 0 0 0 rg BT 553.76 489.90 Td (as ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.30 Td ("we", ) Tj ET Q
q 0 0 0 rg BT 75.57 477.30 Td ("us", ) Tj ET Q
q 0 0 0 rg BT 98.72 477.30 Td ("our) Tj ET Q
q 0 0 0 rg BT 116.59 477.30 Td (," ) Tj ET Q
q 0 0 0 rg BT 126.12 477.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 143.91 477.30 Td ("Company" ) Tj ET Q
q 0 0 0 rg BT 195.94 477.30 Td (refer ) Tj ET Q
q 0 0 0 rg BT 218.37 477.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 229.17 477.30 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 253.37 477.30 Td (Mason.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 452.10 Td (Use ) Tj ET Q
q 0 0 0 rg BT 68.46 452.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 79.83 452.10 Td (Estimates) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.50 Td (The ) Tj ET Q
q 0 0 0 rg BT 67.57 439.50 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 122.38 439.50 Td (financial ) Tj ET Q
q 0 0 0 rg BT 160.85 439.50 Td (statements ) Tj ET Q
q 0 0 0 rg BT 206.92 439.50 Td (are ) Tj ET Q
q 0 0 0 rg BT 221.48 439.50 Td (prepared ) Tj ET Q
q 0 0 0 rg BT 259.94 439.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 269.85 439.50 Td (accordance ) Tj ET Q
q 0 0 0 rg BT 318.81 439.50 Td (with ) Tj ET Q
q 0 0 0 rg BT 339.22 439.50 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 387.02 439.50 Td (principles ) Tj ET Q
q 0 0 0 rg BT 430.17 439.50 Td (generally ) Tj ET Q
q 0 0 0 rg BT 470.98 439.50 Td (accepted ) Tj ET Q
q 0 0 0 rg BT 509.44 439.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 519.35 439.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 533.92 439.50 Td (United ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.90 Td (States ) Tj ET Q
q 0 0 0 rg BT 78.00 426.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 89.41 426.90 Td (America ) Tj ET Q
q 0 0 0 rg BT 128.97 426.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 147.55 426.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 163.80 426.90 Td (applicable ) Tj ET Q
q 0 0 0 rg BT 210.36 426.90 Td (rules ) Tj ET Q
q 0 0 0 rg BT 234.19 426.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 252.76 426.90 Td (regulations ) Tj ET Q
q 0 0 0 rg BT 302.84 426.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 315.00 426.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 331.25 426.90 Td (Securities ) Tj ET Q
q 0 0 0 rg BT 376.07 426.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 394.65 426.90 Td (Exchange ) Tj ET Q
q 0 0 0 rg BT 439.46 426.90 Td (Commission ) Tj ET Q
q 0 0 0 rg BT 495.97 426.90 Td (\("SEC"\), ) Tj ET Q
q 0 0 0 rg BT 536.84 426.90 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.30 Td (require ) Tj ET Q
q 0 0 0 rg BT 83.16 414.30 Td (management ) Tj ET Q
q 0 0 0 rg BT 140.73 414.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 152.83 414.30 Td (make ) Tj ET Q
q 0 0 0 rg BT 179.50 414.30 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 235.35 414.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 254.44 414.30 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 297.44 414.30 Td (that ) Tj ET Q
q 0 0 0 rg BT 317.12 414.30 Td (af) Tj ET Q
q 0 0 0 rg BT 325.08 414.30 Td (fect ) Tj ET Q
q 0 0 0 rg BT 344.75 414.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 361.50 414.30 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 401.02 414.30 Td (reported ) Tj ET Q
q 0 0 0 rg BT 439.93 414.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 452.02 414.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 468.78 414.30 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 525.78 414.30 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.70 Td (statements ) Tj ET Q
q 0 0 0 rg BT 95.85 401.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 113.04 401.70 Td (accompanying ) Tj ET Q
q 0 0 0 rg BT 176.29 401.70 Td (notes, ) Tj ET Q
q 0 0 0 rg BT 203.11 401.70 Td (including ) Tj ET Q
q 0 0 0 rg BT 244.80 401.70 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 280.05 401.70 Td (recognition, ) Tj ET Q
q 0 0 0 rg BT 332.52 401.70 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 373.62 401.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 384.40 401.70 Td (financial ) Tj ET Q
q 0 0 0 rg BT 423.15 401.70 Td (instruments, ) Tj ET Q
q 0 0 0 rg BT 476.81 401.70 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 520.82 401.70 Td (assets ) Tj ET Q
q 0 0 0 rg BT 547.35 401.70 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 389.10 Td (goodwill, ) Tj ET Q
q 0 0 0 rg BT 93.45 389.10 Td (stock-based ) Tj ET Q
q 0 0 0 rg BT 147.00 389.10 Td (compensation, ) Tj ET Q
q 0 0 0 rg BT 211.93 389.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 231.08 389.10 Td (income ) Tj ET Q
q 0 0 0 rg BT 265.97 389.10 Td (taxes. ) Tj ET Q
q 0 0 0 rg BT 294.16 389.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 298.15 389.10 Td (Management ) Tj ET Q
q 0 0 0 rg BT 356.95 389.10 Td (believes ) Tj ET Q
q 0 0 0 rg BT 395.34 389.10 Td (that ) Tj ET Q
q 0 0 0 rg BT 415.07 389.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 431.88 389.10 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 474.94 389.10 Td (used ) Tj ET Q
q 0 0 0 rg BT 498.18 389.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 514.98 389.10 Td (reasonable, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.50 Td (although ) Tj ET Q
q 0 0 0 rg BT 88.20 376.50 Td (actual ) Tj ET Q
q 0 0 0 rg BT 115.23 376.50 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 152.77 376.50 Td (could ) Tj ET Q
q 0 0 0 rg BT 178.05 376.50 Td (dif) Tj ET Q
q 0 0 0 rg BT 189.53 376.50 Td (fer ) Tj ET Q
q 0 0 0 rg BT 203.14 376.50 Td (from ) Tj ET Q
q 0 0 0 rg BT 225.50 376.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 240.29 376.50 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 281.32 376.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 298.44 376.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 313.22 376.50 Td (dif) Tj ET Q
q 0 0 0 rg BT 324.70 376.50 Td (ferences ) Tj ET Q
q 0 0 0 rg BT 361.63 376.50 Td (could ) Tj ET Q
q 0 0 0 rg BT 386.91 376.50 Td (have ) Tj ET Q
q 0 0 0 rg BT 408.69 376.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 415.31 376.50 Td (material ) Tj ET Q
q 0 0 0 rg BT 451.66 376.50 Td (impact ) Tj ET Q
q 0 0 0 rg BT 482.19 376.50 Td (on ) Tj ET Q
q 0 0 0 rg BT 494.65 376.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 509.44 376.50 Td (consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.90 Td (financial ) Tj ET Q
q 0 0 0 rg BT 88.86 363.90 Td (statements.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.70 Td (Consolidation) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 326.10 Td (In ) Tj ET Q
q 0 0 0 rg BT 61.79 326.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 78.17 326.10 Td (normal ) Tj ET Q
q 0 0 0 rg BT 111.46 326.10 Td (course ) Tj ET Q
q 0 0 0 rg BT 142.41 326.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 154.71 326.10 Td (its ) Tj ET Q
q 0 0 0 rg BT 168.18 326.10 Td (business, ) Tj ET Q
q 0 0 0 rg BT 209.94 326.10 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 235.06 326.10 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 267.19 326.10 Td (sponsors ) Tj ET Q
q 0 0 0 rg BT 307.49 326.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 326.20 326.10 Td (manages ) Tj ET Q
q 0 0 0 rg BT 366.49 326.10 Td (various ) Tj ET Q
q 0 0 0 rg BT 400.95 326.10 Td (types ) Tj ET Q
q 0 0 0 rg BT 426.66 326.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 438.95 326.10 Td (investment ) Tj ET Q
q 0 0 0 rg BT 488.58 326.10 Td (products. ) Tj ET Q
q 0 0 0 rg BT 530.91 326.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 534.46 326.10 Td (For ) Tj ET Q
q 0 0 0 rg BT 552.59 326.10 Td (its ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.50 Td (services, ) Tj ET Q
q 0 0 0 rg BT 88.80 313.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 113.23 313.50 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 144.67 313.50 Td (is ) Tj ET Q
q 0 0 0 rg BT 154.53 313.50 Td (entitled ) Tj ET Q
q 0 0 0 rg BT 188.88 313.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 199.91 313.50 Td (receive ) Tj ET Q
q 0 0 0 rg BT 233.07 313.50 Td (management ) Tj ET Q
q 0 0 0 rg BT 289.57 313.50 Td (fees ) Tj ET Q
q 0 0 0 rg BT 309.33 313.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 327.35 313.50 Td (may ) Tj ET Q
q 0 0 0 rg BT 348.29 313.50 Td (be ) Tj ET Q
q 0 0 0 rg BT 361.05 313.50 Td (eligible, ) Tj ET Q
q 0 0 0 rg BT 398.03 313.50 Td (under ) Tj ET Q
q 0 0 0 rg BT 424.79 313.50 Td (certain ) Tj ET Q
q 0 0 0 rg BT 456.21 313.50 Td (circumstances, ) Tj ET Q
q 0 0 0 rg BT 521.17 313.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 532.19 313.50 Td (receive ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.90 Td (additional ) Tj ET Q
q 0 0 0 rg BT 94.42 300.90 Td (subordinated ) Tj ET Q
q 0 0 0 rg BT 151.59 300.90 Td (management ) Tj ET Q
q 0 0 0 rg BT 208.17 300.90 Td (fees ) Tj ET Q
q 0 0 0 rg BT 228.00 300.90 Td (or ) Tj ET Q
q 0 0 0 rg BT 239.68 300.90 Td (other ) Tj ET Q
q 0 0 0 rg BT 264.19 300.90 Td (incentive ) Tj ET Q
q 0 0 0 rg BT 305.60 300.90 Td (fees. ) Tj ET Q
q 0 0 0 rg BT 328.06 300.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 331.00 300.90 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 355.50 300.90 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 392.99 300.90 Td (exposure ) Tj ET Q
q 0 0 0 rg BT 433.83 300.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 444.93 300.90 Td (risk ) Tj ET Q
q 0 0 0 rg BT 463.61 300.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 474.71 300.90 Td (these ) Tj ET Q
q 0 0 0 rg BT 499.21 300.90 Td (entities, ) Tj ET Q
q 0 0 0 rg BT 535.10 300.90 Td (except ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.30 Td (those ) Tj ET Q
q 0 0 0 rg BT 74.29 288.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 89.15 288.30 Td (which ) Tj ET Q
q 0 0 0 rg BT 117.43 288.30 Td (total ) Tj ET Q
q 0 0 0 rg BT 138.72 288.30 Td (return ) Tj ET Q
q 0 0 0 rg BT 166.41 288.30 Td (swap ) Tj ET Q
q 0 0 0 rg BT 190.61 288.30 Td (arrangements ) Tj ET Q
q 0 0 0 rg BT 249.79 288.30 Td (have ) Tj ET Q
q 0 0 0 rg BT 272.23 288.30 Td (been ) Tj ET Q
q 0 0 0 rg BT 294.67 288.30 Td (executed, ) Tj ET Q
q 0 0 0 rg BT 337.23 288.30 Td (as ) Tj ET Q
q 0 0 0 rg BT 348.60 288.30 Td (further ) Tj ET Q
q 0 0 0 rg BT 379.79 288.30 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 422.66 288.30 Td (below) Tj ET Q
q 0 0 0 rg BT 447.63 288.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 452.88 288.30 Td (is ) Tj ET Q
q 0 0 0 rg BT 462.51 288.30 Td (generally ) Tj ET Q
q 0 0 0 rg BT 504.19 288.30 Td (limited ) Tj ET Q
q 0 0 0 rg BT 536.56 288.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 547.35 288.30 Td (any ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.70 Td (equity ) Tj ET Q
q 0 0 0 rg BT 78.59 275.70 Td (investment ) Tj ET Q
q 0 0 0 rg BT 127.52 275.70 Td (it ) Tj ET Q
q 0 0 0 rg BT 136.21 275.70 Td (has ) Tj ET Q
q 0 0 0 rg BT 153.05 275.70 Td (made ) Tj ET Q
q 0 0 0 rg BT 178.64 275.70 Td (or ) Tj ET Q
q 0 0 0 rg BT 190.24 275.70 Td (is ) Tj ET Q
q 0 0 0 rg BT 200.09 275.70 Td (required ) Tj ET Q
q 0 0 0 rg BT 237.92 275.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 248.94 275.70 Td (make, ) Tj ET Q
q 0 0 0 rg BT 277.15 275.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 295.16 275.70 Td (any ) Tj ET Q
q 0 0 0 rg BT 313.17 275.70 Td (earned ) Tj ET Q
q 0 0 0 rg BT 344.00 275.70 Td (but ) Tj ET Q
q 0 0 0 rg BT 360.26 275.70 Td (uncollected ) Tj ET Q
q 0 0 0 rg BT 411.51 275.70 Td (management ) Tj ET Q
q 0 0 0 rg BT 468.00 275.70 Td (fees. ) Tj ET Q
q 0 0 0 rg BT 490.38 275.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 493.23 275.70 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 517.65 275.70 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 549.08 275.70 Td (did ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 263.10 Td (not ) Tj ET Q
q 0 0 0 rg BT 64.88 263.10 Td (sell ) Tj ET Q
q 0 0 0 rg BT 81.43 263.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 92.15 263.10 Td (transfer ) Tj ET Q
q 0 0 0 rg BT 126.18 263.10 Td (investment ) Tj ET Q
q 0 0 0 rg BT 174.22 263.10 Td (assets ) Tj ET Q
q 0 0 0 rg BT 200.68 263.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 210.82 263.10 Td (any ) Tj ET Q
q 0 0 0 rg BT 227.95 263.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 238.66 263.10 Td (these ) Tj ET Q
q 0 0 0 rg BT 262.20 263.10 Td (investment ) Tj ET Q
q 0 0 0 rg BT 310.24 263.10 Td (products. ) Tj ET Q
q 0 0 0 rg BT 351.00 263.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 352.96 263.10 Td (In ) Tj ET Q
q 0 0 0 rg BT 363.68 263.10 Td (accordance ) Tj ET Q
q 0 0 0 rg BT 412.85 263.10 Td (with ) Tj ET Q
q 0 0 0 rg BT 433.49 263.10 Td (financial ) Tj ET Q
q 0 0 0 rg BT 472.18 263.10 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 520.22 263.10 Td (standards, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 250.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 72.99 250.50 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 103.48 250.50 Td (consolidates ) Tj ET Q
q 0 0 0 rg BT 157.30 250.50 Td (certain ) Tj ET Q
q 0 0 0 rg BT 187.78 250.50 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 232.27 250.50 Td (investment ) Tj ET Q
q 0 0 0 rg BT 280.26 250.50 Td (products, ) Tj ET Q
q 0 0 0 rg BT 320.96 250.50 Td (some ) Tj ET Q
q 0 0 0 rg BT 345.04 250.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 355.70 250.50 Td (which ) Tj ET Q
q 0 0 0 rg BT 383.27 250.50 Td (are ) Tj ET Q
q 0 0 0 rg BT 398.00 250.50 Td (designated ) Tj ET Q
q 0 0 0 rg BT 444.82 250.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 461.89 250.50 Td (reported ) Tj ET Q
q 0 0 0 rg BT 498.79 250.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 509.44 250.50 Td (consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 237.90 Td (investment ) Tj ET Q
q 0 0 0 rg BT 98.60 237.90 Td (vehicles ) Tj ET Q
q 0 0 0 rg BT 136.02 237.90 Td (\(�CIVs�\). ) Tj ET Q
q 0 0 0 rg BT 180.15 237.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 182.95 237.90 Td (The ) Tj ET Q
q 0 0 0 rg BT 202.29 237.90 Td (consolidation ) Tj ET Q
q 0 0 0 rg BT 261.89 237.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 273.65 237.90 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 319.25 237.90 Td (investment ) Tj ET Q
q 0 0 0 rg BT 368.35 237.90 Td (products, ) Tj ET Q
q 0 0 0 rg BT 410.15 237.90 Td (including ) Tj ET Q
q 0 0 0 rg BT 452.83 237.90 Td (those ) Tj ET Q
q 0 0 0 rg BT 478.02 237.90 Td (designated ) Tj ET Q
q 0 0 0 rg BT 525.94 237.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 537.70 237.90 Td (CIVs, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 225.30 Td (has ) Tj ET Q
q 0 0 0 rg BT 65.73 225.30 Td (no ) Tj ET Q
q 0 0 0 rg BT 78.46 225.30 Td (impact ) Tj ET Q
q 0 0 0 rg BT 109.26 225.30 Td (on ) Tj ET Q
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q 0 0 0 rg BT 139.38 225.30 Td (Income ) Tj ET Q
q 0 0 0 rg BT 173.09 225.30 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 201.66 225.30 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 254.63 225.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 265.02 225.30 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 288.83 225.30 Td (Mason, ) Tj ET Q
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q 0 0 0 rg BT 340.52 225.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 357.91 225.30 Td (does ) Tj ET Q
q 0 0 0 rg BT 379.39 225.30 Td (not ) Tj ET Q
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q 0 0 0 rg BT 423.98 225.30 Td (material ) Tj ET Q
q 0 0 0 rg BT 460.60 225.30 Td (impact ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 212.70 Td (consolidated ) Tj ET Q
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q 0 0 0 rg BT 148.30 212.70 Td (results. ) Tj ET Q
q 0 0 0 rg BT 181.38 212.70 Td ( ) Tj ET Q
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q 0 0 0 rg BT 236.33 212.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 247.53 212.70 Td (the ) Tj ET Q
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q 0 0 0 rg BT 314.49 212.70 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 370.60 212.70 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 416.22 212.70 Td (investment ) Tj ET Q
q 0 0 0 rg BT 465.33 212.70 Td (products ) Tj ET Q
q 0 0 0 rg BT 504.53 212.70 Td (is ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 149.57 200.10 Td (\(Expense\) ) Tj ET Q
q 0 0 0 rg BT 194.65 200.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 212.32 200.10 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 251.55 200.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 262.22 200.10 Td (Net ) Tj ET Q
q 0 0 0 rg BT 279.89 200.10 Td (income ) Tj ET Q
q 0 0 0 rg BT 313.31 200.10 Td (\(loss\) ) Tj ET Q
q 0 0 0 rg BT 339.15 200.10 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 389.48 200.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 400.16 200.10 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 464.49 200.10 Td (interests. ) Tj ET Q
q 0 0 0 rg BT 504.62 200.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 506.95 200.10 Td (The ) Tj ET Q
q 0 0 0 rg BT 525.78 200.10 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 187.50 Td (information ) Tj ET Q
q 0 0 0 rg BT 101.23 187.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 112.14 187.50 Td (certain ) Tj ET Q
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q 0 0 0 rg BT 281.07 628.35 Td (under ) Tj ET Q
q 0 0 0 rg BT 307.41 628.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 322.68 628.35 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 371.19 628.35 Td (guidance. ) Tj ET Q
q 0 0 0 rg BT 414.15 628.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 416.59 628.35 Td (If ) Tj ET Q
q 0 0 0 rg BT 426.02 628.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 441.28 628.35 Td (fees ) Tj ET Q
q 0 0 0 rg BT 460.63 628.35 Td (paid ) Tj ET Q
q 0 0 0 rg BT 481.14 628.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 491.75 628.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 498.85 628.35 Td (decision ) Tj ET Q
q 0 0 0 rg BT 536.28 628.35 Td (maker ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 64.71 615.75 Td (market-based, ) Tj ET Q
q 0 0 0 rg BT 126.29 615.75 Td (such ) Tj ET Q
q 0 0 0 rg BT 147.93 615.75 Td (fees ) Tj ET Q
q 0 0 0 rg BT 167.23 615.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 182.44 615.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 198.25 615.75 Td (considered ) Tj ET Q
q 0 0 0 rg BT 246.13 615.75 Td (variable ) Tj ET Q
q 0 0 0 rg BT 282.34 615.75 Td (interests ) Tj ET Q
q 0 0 0 rg BT 319.73 615.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 330.29 615.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 337.17 615.75 Td (VIE. ) Tj ET Q
q 0 0 0 rg BT 359.68 615.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 362.08 615.75 Td (Market-based ) Tj ET Q
q 0 0 0 rg BT 422.20 615.75 Td (fees ) Tj ET Q
q 0 0 0 rg BT 441.50 615.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 456.71 615.75 Td (those ) Tj ET Q
q 0 0 0 rg BT 481.27 615.75 Td (fees ) Tj ET Q
q 0 0 0 rg BT 500.57 615.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 528.62 615.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 543.84 615.75 Td (both ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (customary ) Tj ET Q
q 0 0 0 rg BT 95.51 603.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 112.93 603.15 Td (commensurate ) Tj ET Q
q 0 0 0 rg BT 176.43 603.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 197.36 603.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 212.45 603.15 Td (level ) Tj ET Q
q 0 0 0 rg BT 235.13 603.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 246.14 603.15 Td (ef) Tj ET Q
q 0 0 0 rg BT 254.11 603.15 Td (fort ) Tj ET Q
q 0 0 0 rg BT 271.53 603.15 Td (required ) Tj ET Q
q 0 0 0 rg BT 308.78 603.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 323.29 603.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 338.39 603.15 Td (services ) Tj ET Q
q 0 0 0 rg BT 374.47 603.15 Td (provided. ) Tj ET Q
q 0 0 0 rg BT 416.69 603.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 418.45 603.15 Td (Additionally) Tj ET Q
q 0 0 0 rg BT 470.85 603.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 475.74 603.15 Td (if ) Tj ET Q
q 0 0 0 rg BT 484.42 603.15 Td (employee ) Tj ET Q
q 0 0 0 rg BT 527.51 603.15 Td (interests ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 59.45 590.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 65.88 590.55 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 110.24 590.55 Td (investment ) Tj ET Q
q 0 0 0 rg BT 158.10 590.55 Td (vehicle ) Tj ET Q
q 0 0 0 rg BT 190.19 590.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 204.79 590.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 219.98 590.55 Td (made ) Tj ET Q
q 0 0 0 rg BT 244.50 590.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 254.44 590.55 Td (circumvent ) Tj ET Q
q 0 0 0 rg BT 303.45 590.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 318.06 590.55 Td (consolidation ) Tj ET Q
q 0 0 0 rg BT 376.42 590.55 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 416.09 590.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 433.03 590.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 447.63 590.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 462.82 590.55 Td (financed ) Tj ET Q
q 0 0 0 rg BT 500.75 590.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 513.02 590.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 527.63 590.55 Td (sponsor) Tj ET Q
q 0 0 0 rg BT 559.88 590.55 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (they ) Tj ET Q
q 0 0 0 rg BT 70.20 577.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 85.65 577.95 Td (not ) Tj ET Q
q 0 0 0 rg BT 101.69 577.95 Td (included ) Tj ET Q
q 0 0 0 rg BT 140.47 577.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 151.26 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 166.72 577.95 Td (variable ) Tj ET Q
q 0 0 0 rg BT 203.15 577.95 Td (interests ) Tj ET Q
q 0 0 0 rg BT 240.77 577.95 Td (assessment, ) Tj ET Q
q 0 0 0 rg BT 292.68 577.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 310.47 577.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 325.91 577.95 Td (not ) Tj ET Q
q 0 0 0 rg BT 341.96 577.95 Td (included ) Tj ET Q
q 0 0 0 rg BT 380.74 577.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 391.53 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 406.98 577.95 Td (primary ) Tj ET Q
q 0 0 0 rg BT 442.85 577.95 Td (beneficiary ) Tj ET Q
q 0 0 0 rg BT 492.69 577.95 Td (determination.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (A) Tj ET Q
q 0 0 0 rg BT 56.50 552.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 58.56 552.75 Td (decision ) Tj ET Q
q 0 0 0 rg BT 95.60 552.75 Td (maker ) Tj ET Q
q 0 0 0 rg BT 123.89 552.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 132.95 552.75 Td (deemed ) Tj ET Q
q 0 0 0 rg BT 167.65 552.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 177.87 552.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 189.84 552.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 196.55 552.75 Td (primary ) Tj ET Q
q 0 0 0 rg BT 231.84 552.75 Td (beneficiary ) Tj ET Q
q 0 0 0 rg BT 281.12 552.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 291.92 552.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 298.48 552.75 Td (VIE ) Tj ET Q
q 0 0 0 rg BT 318.03 552.75 Td (if ) Tj ET Q
q 0 0 0 rg BT 326.50 552.75 Td (it ) Tj ET Q
q 0 0 0 rg BT 334.38 552.75 Td (has ) Tj ET Q
q 0 0 0 rg BT 350.43 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 365.31 552.75 Td (power ) Tj ET Q
q 0 0 0 rg BT 393.61 552.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 403.83 552.75 Td (direct ) Tj ET Q
q 0 0 0 rg BT 429.79 552.75 Td (activities ) Tj ET Q
q 0 0 0 rg BT 469.74 552.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 487.54 552.75 Td (most ) Tj ET Q
q 0 0 0 rg BT 510.02 552.75 Td (significantly ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (impact ) Tj ET Q
q 0 0 0 rg BT 80.60 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 95.96 540.15 Td (economic ) Tj ET Q
q 0 0 0 rg BT 139.31 540.15 Td (performance ) Tj ET Q
q 0 0 0 rg BT 194.88 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 206.16 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 221.33 540.15 Td (VIE ) Tj ET Q
q 0 0 0 rg BT 241.36 540.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 259.05 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 274.40 540.15 Td (obligation ) Tj ET Q
q 0 0 0 rg BT 319.51 540.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 330.21 540.15 Td (absorb ) Tj ET Q
q 0 0 0 rg BT 360.73 540.15 Td (losses ) Tj ET Q
q 0 0 0 rg BT 388.35 540.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 399.62 540.15 Td (receive ) Tj ET Q
q 0 0 0 rg BT 432.46 540.15 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 468.23 540.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 491.17 540.15 Td (variable ) Tj ET Q
q 0 0 0 rg BT 527.51 540.15 Td (interests ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 67.92 527.55 Td (could ) Tj ET Q
q 0 0 0 rg BT 93.93 527.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 106.51 527.55 Td (significant ) Tj ET Q
q 0 0 0 rg BT 153.51 527.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 164.36 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 179.67 527.55 Td (VIE. ) Tj ET Q
q 0 0 0 rg BT 202.46 527.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 205.14 527.55 Td (In ) Tj ET Q
q 0 0 0 rg BT 216.56 527.55 Td (determining ) Tj ET Q
q 0 0 0 rg BT 269.98 527.55 Td (whether ) Tj ET Q
q 0 0 0 rg BT 306.47 527.55 Td (it ) Tj ET Q
q 0 0 0 rg BT 314.98 527.55 Td (is ) Tj ET Q
q 0 0 0 rg BT 324.66 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 340.17 527.55 Td (primary ) Tj ET Q
q 0 0 0 rg BT 376.08 527.55 Td (beneficiary ) Tj ET Q
q 0 0 0 rg BT 425.98 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 437.40 527.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 444.55 527.55 Td (VIE, ) Tj ET Q
q 0 0 0 rg BT 467.34 527.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 491.59 527.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 522.85 527.55 Td (considers ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (both ) Tj ET Q
q 0 0 0 rg BT 70.09 514.95 Td (qualitative ) Tj ET Q
q 0 0 0 rg BT 116.34 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 133.43 514.95 Td (quantitative ) Tj ET Q
q 0 0 0 rg BT 184.92 514.95 Td (factors ) Tj ET Q
q 0 0 0 rg BT 215.42 514.95 Td (such ) Tj ET Q
q 0 0 0 rg BT 236.59 514.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 247.26 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 262.02 514.95 Td (voting ) Tj ET Q
q 0 0 0 rg BT 290.78 514.95 Td (rights ) Tj ET Q
q 0 0 0 rg BT 316.62 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 327.30 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 342.05 514.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 370.22 514.95 Td (holders, ) Tj ET Q
q 0 0 0 rg BT 405.68 514.95 Td (guarantees, ) Tj ET Q
q 0 0 0 rg BT 455.13 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 472.22 514.95 Td (implied ) Tj ET Q
q 0 0 0 rg BT 506.22 514.95 Td (relationships. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (If ) Tj ET Q
q 0 0 0 rg BT 59.12 502.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 66.40 502.35 Td (fee ) Tj ET Q
q 0 0 0 rg BT 81.85 502.35 Td (paid ) Tj ET Q
q 0 0 0 rg BT 102.55 502.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 113.34 502.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 120.63 502.35 Td (decision ) Tj ET Q
q 0 0 0 rg BT 158.25 502.35 Td (maker ) Tj ET Q
q 0 0 0 rg BT 187.11 502.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 196.73 502.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 212.78 502.35 Td (market-based, ) Tj ET Q
q 0 0 0 rg BT 274.58 502.35 Td (it ) Tj ET Q
q 0 0 0 rg BT 283.04 502.35 Td (will ) Tj ET Q
q 0 0 0 rg BT 302.00 502.35 Td (be ) Tj ET Q
q 0 0 0 rg BT 314.54 502.35 Td (considered ) Tj ET Q
q 0 0 0 rg BT 362.65 502.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 373.44 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 388.89 502.35 Td (primary ) Tj ET Q
q 0 0 0 rg BT 424.76 502.35 Td (beneficiary ) Tj ET Q
q 0 0 0 rg BT 474.60 502.35 Td (determination. ) Tj ET Q
q 0 0 0 rg BT 538.17 502.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.37 477.15 Td (adoption ) Tj ET Q
q 0 0 0 rg BT 107.66 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 118.96 477.15 Td (this ) Tj ET Q
q 0 0 0 rg BT 136.68 477.15 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 185.29 477.15 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 225.74 477.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 237.03 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 247.76 477.15 Td (April ) Tj ET Q
q 0 0 0 rg BT 272.47 477.15 Td (1, ) Tj ET Q
q 0 0 0 rg BT 282.89 477.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 309.07 477.15 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 344.85 477.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 355.57 477.15 Td (certain ) Tj ET Q
q 0 0 0 rg BT 386.68 477.15 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 431.80 477.15 Td (investment ) Tj ET Q
q 0 0 0 rg BT 480.43 477.15 Td (products ) Tj ET Q
q 0 0 0 rg BT 519.14 477.15 Td (that ) Tj ET Q
q 0 0 0 rg BT 537.43 477.15 Td (reside ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.29 464.55 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 93.24 464.55 Td (mutual ) Tj ET Q
q 0 0 0 rg BT 125.03 464.55 Td (fund ) Tj ET Q
q 0 0 0 rg BT 146.90 464.55 Td (trusts ) Tj ET Q
q 0 0 0 rg BT 172.28 464.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 190.65 464.55 Td (were ) Tj ET Q
q 0 0 0 rg BT 213.67 464.55 Td (previously ) Tj ET Q
q 0 0 0 rg BT 260.63 464.55 Td (accounted ) Tj ET Q
q 0 0 0 rg BT 305.81 464.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 320.68 464.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 331.86 464.55 Td (VREs ) Tj ET Q
q 0 0 0 rg BT 359.58 464.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 370.37 464.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 382.90 464.55 Td (evaluated ) Tj ET Q
q 0 0 0 rg BT 425.76 464.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 436.94 464.55 Td (VIEs.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (As ) Tj ET Q
q 0 0 0 rg BT 64.38 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 76.34 439.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 106.96 439.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 123.30 439.35 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 147.51 439.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 165.89 439.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 192.72 439.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 217.51 439.35 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 249.31 439.35 Td (concluded ) Tj ET Q
q 0 0 0 rg BT 295.67 439.35 Td (under ) Tj ET Q
q 0 0 0 rg BT 322.79 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 338.83 439.35 Td (updated ) Tj ET Q
q 0 0 0 rg BT 375.29 439.35 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 424.57 439.35 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 465.68 439.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 484.64 439.35 Td (it ) Tj ET Q
q 0 0 0 rg BT 493.69 439.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 513.23 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 529.27 439.35 Td (primary ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (beneficiary ) Tj ET Q
q 0 0 0 rg BT 99.16 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 110.35 426.75 Td (certain ) Tj ET Q
q 0 0 0 rg BT 141.18 426.75 Td (VIEs, ) Tj ET Q
q 0 0 0 rg BT 167.83 426.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 195.94 426.75 Td (were ) Tj ET Q
q 0 0 0 rg BT 218.78 426.75 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 274.29 426.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 291.90 426.75 Td (designated ) Tj ET Q
q 0 0 0 rg BT 339.24 426.75 Td (CIVs, ) Tj ET Q
q 0 0 0 rg BT 366.48 426.75 Td (because ) Tj ET Q
q 0 0 0 rg BT 402.15 426.75 Td (it ) Tj ET Q
q 0 0 0 rg BT 410.43 426.75 Td (held ) Tj ET Q
q 0 0 0 rg BT 430.95 426.75 Td (significant ) Tj ET Q
q 0 0 0 rg BT 477.72 426.75 Td (financial ) Tj ET Q
q 0 0 0 rg BT 516.89 426.75 Td (interests ) Tj ET Q
q 0 0 0 rg BT 554.33 426.75 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 63.86 414.15 Td (funds. ) Tj ET Q
q 0 0 0 rg BT 91.36 414.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 92.90 414.15 Td (In ) Tj ET Q
q 0 0 0 rg BT 103.18 414.15 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 141.75 414.15 Td (during ) Tj ET Q
q 0 0 0 rg BT 170.70 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 185.07 414.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 204.67 414.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 231.28 414.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 260.22 414.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 274.88 414.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 300.05 414.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 323.16 414.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 353.28 414.15 Td (entered ) Tj ET Q
q 0 0 0 rg BT 385.71 414.15 Td (into ) Tj ET Q
q 0 0 0 rg BT 403.58 414.15 Td (various ) Tj ET Q
q 0 0 0 rg BT 436.03 414.15 Td (total ) Tj ET Q
q 0 0 0 rg BT 456.23 414.15 Td (return ) Tj ET Q
q 0 0 0 rg BT 482.84 414.15 Td (swap ) Tj ET Q
q 0 0 0 rg BT 505.95 414.15 Td (arrangements ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 70.52 401.55 Td (financial ) Tj ET Q
q 0 0 0 rg BT 109.60 401.55 Td (intermediaries ) Tj ET Q
q 0 0 0 rg BT 172.01 401.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 193.02 401.55 Td (respect ) Tj ET Q
q 0 0 0 rg BT 225.11 401.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 235.62 401.55 Td (two ) Tj ET Q
q 0 0 0 rg BT 253.72 401.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 277.65 401.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 308.58 401.55 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 353.51 401.55 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 395.50 401.55 Td (traded ) Tj ET Q
q 0 0 0 rg BT 424.09 401.55 Td (funds ) Tj ET Q
q 0 0 0 rg BT 449.77 401.55 Td (\("ETFs"\). ) Tj ET Q
q 0 0 0 rg BT 493.07 401.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 495.42 401.55 Td (Under ) Tj ET Q
q 0 0 0 rg BT 524.00 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 539.18 401.55 Td (terms ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.38 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 77.34 388.95 Td (total ) Tj ET Q
q 0 0 0 rg BT 99.14 388.95 Td (return ) Tj ET Q
q 0 0 0 rg BT 127.34 388.95 Td (swaps, ) Tj ET Q
q 0 0 0 rg BT 158.77 388.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 183.48 388.95 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 215.20 388.95 Td (absorbs ) Tj ET Q
q 0 0 0 rg BT 250.41 388.95 Td (all ) Tj ET Q
q 0 0 0 rg BT 264.04 388.95 Td (gains ) Tj ET Q
q 0 0 0 rg BT 289.34 388.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 307.63 388.95 Td (losses ) Tj ET Q
q 0 0 0 rg BT 335.85 388.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 349.49 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 365.45 388.95 Td (underlying ) Tj ET Q
q 0 0 0 rg BT 414.07 388.95 Td (ETF ) Tj ET Q
q 0 0 0 rg BT 435.88 388.95 Td (investments ) Tj ET Q
q 0 0 0 rg BT 489.17 388.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 501.05 388.95 Td (these ) Tj ET Q
q 0 0 0 rg BT 525.76 388.95 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (intermediaries, ) Tj ET Q
q 0 0 0 rg BT 113.54 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 130.06 376.35 Td (therefore ) Tj ET Q
q 0 0 0 rg BT 169.30 376.35 Td (has ) Tj ET Q
q 0 0 0 rg BT 184.65 376.35 Td (variable ) Tj ET Q
q 0 0 0 rg BT 219.82 376.35 Td (interests ) Tj ET Q
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q 0 0 0 rg BT 462.63 729.30 Td (arrangements, ) Tj ET Q
q 0 0 0 rg BT 523.79 729.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 540.93 729.30 Td (other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 716.70 Td (cash ) Tj ET Q
q 0 0 0 rg BT 70.78 716.70 Td (that ) Tj ET Q
q 0 0 0 rg BT 89.15 716.70 Td (is ) Tj ET Q
q 0 0 0 rg BT 98.78 716.70 Td (not ) Tj ET Q
q 0 0 0 rg BT 114.82 716.70 Td (available ) Tj ET Q
q 0 0 0 rg BT 155.34 716.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 166.14 716.70 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 190.34 716.70 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 221.55 716.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 236.41 716.70 Td (general ) Tj ET Q
q 0 0 0 rg BT 269.93 716.70 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 312.20 716.70 Td (use.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 691.50 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 94.13 691.50 Td (Instruments) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.90 Td (Substantially ) Tj ET Q
q 0 0 0 rg BT 106.59 678.90 Td (all ) Tj ET Q
q 0 0 0 rg BT 119.34 678.90 Td (financial ) Tj ET Q
q 0 0 0 rg BT 158.33 678.90 Td (instruments ) Tj ET Q
q 0 0 0 rg BT 209.58 678.90 Td (are ) Tj ET Q
q 0 0 0 rg BT 224.66 678.90 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 263.64 678.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 274.06 678.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 289.14 678.90 Td (financial ) Tj ET Q
q 0 0 0 rg BT 328.13 678.90 Td (statements ) Tj ET Q
q 0 0 0 rg BT 374.71 678.90 Td (at ) Tj ET Q
q 0 0 0 rg BT 384.54 678.90 Td (fair ) Tj ET Q
q 0 0 0 rg BT 401.37 678.90 Td (value ) Tj ET Q
q 0 0 0 rg BT 426.37 678.90 Td (or ) Tj ET Q
q 0 0 0 rg BT 437.37 678.90 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 475.21 678.90 Td (that ) Tj ET Q
q 0 0 0 rg BT 493.21 678.90 Td (approximate ) Tj ET Q
q 0 0 0 rg BT 547.94 678.90 Td (fair ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.30 Td (value, ) Tj ET Q
q 0 0 0 rg BT 77.49 666.30 Td (except ) Tj ET Q
q 0 0 0 rg BT 107.51 666.30 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 131.71 666.30 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 168.90 666.30 Td (long-term ) Tj ET Q
q 0 0 0 rg BT 212.93 666.30 Td (debt.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 641.10 Td (As ) Tj ET Q
q 0 0 0 rg BT 64.14 641.10 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 107.37 641.10 Td (above ) Tj ET Q
q 0 0 0 rg BT 135.41 641.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 146.56 641.10 Td ("Consolidation," ) Tj ET Q
q 0 0 0 rg BT 219.65 641.10 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 269.27 641.10 Td (fund ) Tj ET Q
q 0 0 0 rg BT 291.49 641.10 Td (products ) Tj ET Q
q 0 0 0 rg BT 330.63 641.10 Td (with ) Tj ET Q
q 0 0 0 rg BT 352.27 641.10 Td (seed ) Tj ET Q
q 0 0 0 rg BT 373.90 641.10 Td (capital ) Tj ET Q
q 0 0 0 rg BT 404.86 641.10 Td (investments ) Tj ET Q
q 0 0 0 rg BT 458.00 641.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 473.80 641.10 Td (initially ) Tj ET Q
q 0 0 0 rg BT 509.44 641.10 Td (consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.24 628.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 82.65 628.50 Td (individual ) Tj ET Q
q 0 0 0 rg BT 127.81 628.50 Td (securities ) Tj ET Q
q 0 0 0 rg BT 170.04 628.50 Td (within ) Tj ET Q
q 0 0 0 rg BT 199.45 628.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 214.86 628.50 Td (portfolio ) Tj ET Q
q 0 0 0 rg BT 254.19 628.50 Td (are ) Tj ET Q
q 0 0 0 rg BT 269.58 628.50 Td (accounted ) Tj ET Q
q 0 0 0 rg BT 314.72 628.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 329.54 628.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 340.87 628.50 Td (trading ) Tj ET Q
q 0 0 0 rg BT 373.19 628.50 Td (investments. ) Tj ET Q
q 0 0 0 rg BT 428.56 628.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 431.14 628.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 455.29 628.50 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 486.46 628.50 Td (consolidates ) Tj ET Q
q 0 0 0 rg BT 540.94 628.50 Td (these ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.90 Td (products ) Tj ET Q
q 0 0 0 rg BT 88.76 615.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 100.60 615.90 Td (long ) Tj ET Q
q 0 0 0 rg BT 122.37 615.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 134.22 615.90 Td (it ) Tj ET Q
q 0 0 0 rg BT 143.15 615.90 Td (holds ) Tj ET Q
q 0 0 0 rg BT 169.00 615.90 Td (a ) Tj ET Q
q 0 0 0 rg BT 176.76 615.90 Td (controlling ) Tj ET Q
q 0 0 0 rg BT 225.93 615.90 Td (financial ) Tj ET Q
q 0 0 0 rg BT 265.76 615.90 Td (interest ) Tj ET Q
q 0 0 0 rg BT 299.77 615.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 311.03 615.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 326.96 615.90 Td (product. ) Tj ET Q
q 0 0 0 rg BT 364.76 615.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 367.86 615.90 Td (Upon ) Tj ET Q
q 0 0 0 rg BT 394.29 615.90 Td (deconsolidation, ) Tj ET Q
q 0 0 0 rg BT 466.50 615.90 Td (which ) Tj ET Q
q 0 0 0 rg BT 495.26 615.90 Td (typically ) Tj ET Q
q 0 0 0 rg BT 535.10 615.90 Td (occurs ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.30 Td (after ) Tj ET Q
q 0 0 0 rg BT 72.05 603.30 Td (several ) Tj ET Q
q 0 0 0 rg BT 105.11 603.30 Td (years, ) Tj ET Q
q 0 0 0 rg BT 133.21 603.30 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 158.11 603.30 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 190.01 603.30 Td (accounts ) Tj ET Q
q 0 0 0 rg BT 230.07 603.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 245.64 603.30 Td (its ) Tj ET Q
q 0 0 0 rg BT 258.88 603.30 Td (investments ) Tj ET Q
q 0 0 0 rg BT 312.37 603.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 323.86 603.30 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 373.82 603.30 Td (fund ) Tj ET Q
q 0 0 0 rg BT 396.39 603.30 Td (products ) Tj ET Q
q 0 0 0 rg BT 435.88 603.30 Td (as ) Tj ET Q
q 0 0 0 rg BT 447.95 603.30 Td (equity ) Tj ET Q
q 0 0 0 rg BT 477.51 603.30 Td (method ) Tj ET Q
q 0 0 0 rg BT 512.33 603.30 Td (investments ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.70 Td (\(further ) Tj ET Q
q 0 0 0 rg BT 83.90 590.70 Td (described ) Tj ET Q
q 0 0 0 rg BT 126.47 590.70 Td (below\) ) Tj ET Q
q 0 0 0 rg BT 157.97 590.70 Td (if ) Tj ET Q
q 0 0 0 rg BT 166.72 590.70 Td (its ) Tj ET Q
q 0 0 0 rg BT 178.98 590.70 Td (ownership ) Tj ET Q
q 0 0 0 rg BT 225.06 590.70 Td (is ) Tj ET Q
q 0 0 0 rg BT 234.40 590.70 Td (between ) Tj ET Q
q 0 0 0 rg BT 271.72 590.70 Td (20% ) Tj ET Q
q 0 0 0 rg BT 293.31 590.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 310.81 590.70 Td (50%, ) Tj ET Q
q 0 0 0 rg BT 335.02 590.70 Td (or ) Tj ET Q
q 0 0 0 rg BT 346.10 590.70 Td (it ) Tj ET Q
q 0 0 0 rg BT 354.27 590.70 Td (otherwise ) Tj ET Q
q 0 0 0 rg BT 397.43 590.70 Td (has ) Tj ET Q
q 0 0 0 rg BT 413.77 590.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 428.93 590.70 Td (ability ) Tj ET Q
q 0 0 0 rg BT 458.10 590.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 468.61 590.70 Td (significantly ) Tj ET Q
q 0 0 0 rg BT 523.44 590.70 Td (influence ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 578.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.98 578.10 Td (financial ) Tj ET Q
q 0 0 0 rg BT 104.35 578.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 122.16 578.10 Td (operating ) Tj ET Q
q 0 0 0 rg BT 164.46 578.10 Td (policies ) Tj ET Q
q 0 0 0 rg BT 199.77 578.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 211.16 578.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 226.64 578.10 Td (investee. ) Tj ET Q
q 0 0 0 rg BT 266.31 578.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 268.96 578.10 Td (For ) Tj ET Q
q 0 0 0 rg BT 286.19 578.10 Td (partnerships ) Tj ET Q
q 0 0 0 rg BT 340.16 578.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 357.97 578.10 Td (LLCs, ) Tj ET Q
q 0 0 0 rg BT 387.16 578.10 Td (where ) Tj ET Q
q 0 0 0 rg BT 415.46 578.10 Td (third-party ) Tj ET Q
q 0 0 0 rg BT 463.01 578.10 Td (investors ) Tj ET Q
q 0 0 0 rg BT 503.57 578.10 Td (may ) Tj ET Q
q 0 0 0 rg BT 524.29 578.10 Td (have ) Tj ET Q
q 0 0 0 rg BT 546.76 578.10 Td (less ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.50 Td (ability ) Tj ET Q
q 0 0 0 rg BT 78.42 565.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 88.67 565.50 Td (influence ) Tj ET Q
q 0 0 0 rg BT 129.82 565.50 Td (operations, ) Tj ET Q
q 0 0 0 rg BT 178.27 565.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 193.19 565.50 Td (equity ) Tj ET Q
q 0 0 0 rg BT 221.52 565.50 Td (method ) Tj ET Q
q 0 0 0 rg BT 255.10 565.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 265.94 565.50 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 314.09 565.50 Td (is ) Tj ET Q
q 0 0 0 rg BT 323.18 565.50 Td (considered ) Tj ET Q
q 0 0 0 rg BT 370.75 565.50 Td (if ) Tj ET Q
q 0 0 0 rg BT 379.25 565.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 402.91 565.50 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 439.56 565.50 Td (ownership ) Tj ET Q
q 0 0 0 rg BT 485.39 565.50 Td (is ) Tj ET Q
q 0 0 0 rg BT 494.48 565.50 Td (greater ) Tj ET Q
q 0 0 0 rg BT 525.71 565.50 Td (than ) Tj ET Q
q 0 0 0 rg BT 545.88 565.50 Td (3%. ) Tj ET Q
q 0 0 0 rg BT 565.13 565.50 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.90 Td (Changes ) Tj ET Q
q 0 0 0 rg BT 88.21 552.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 98.93 552.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 114.31 552.90 Td (fair ) Tj ET Q
q 0 0 0 rg BT 131.43 552.90 Td (value ) Tj ET Q
q 0 0 0 rg BT 156.72 552.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 168.02 552.90 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 217.21 552.90 Td (fund ) Tj ET Q
q 0 0 0 rg BT 239.01 552.90 Td (products ) Tj ET Q
q 0 0 0 rg BT 277.72 552.90 Td (classified ) Tj ET Q
q 0 0 0 rg BT 319.93 552.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 331.23 552.90 Td (trading ) Tj ET Q
q 0 0 0 rg BT 363.52 552.90 Td (or ) Tj ET Q
q 0 0 0 rg BT 374.82 552.90 Td (equity ) Tj ET Q
q 0 0 0 rg BT 403.61 552.90 Td (method ) Tj ET Q
q 0 0 0 rg BT 437.66 552.90 Td (investments ) Tj ET Q
q 0 0 0 rg BT 490.37 552.90 Td (are ) Tj ET Q
q 0 0 0 rg BT 505.74 552.90 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 554.35 552.90 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.30 Td (Other ) Tj ET Q
q 0 0 0 rg BT 76.03 540.30 Td (non-operating ) Tj ET Q
q 0 0 0 rg BT 137.56 540.30 Td (income ) Tj ET Q
q 0 0 0 rg BT 171.09 540.30 Td (\(expense\), ) Tj ET Q
q 0 0 0 rg BT 217.15 540.30 Td (net, ) Tj ET Q
q 0 0 0 rg BT 235.23 540.30 Td (on ) Tj ET Q
q 0 0 0 rg BT 248.35 540.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 263.81 540.30 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 321.84 540.30 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 370.55 540.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 381.92 540.30 Td (Income ) Tj ET Q
q 0 0 0 rg BT 416.03 540.30 Td (\(Loss\).) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 517.70 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 73.12 517.70 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 103.74 517.70 Td (generally ) Tj ET Q
q 0 0 0 rg BT 144.85 517.70 Td (redeems ) Tj ET Q
q 0 0 0 rg BT 181.87 517.70 Td (its ) Tj ET Q
q 0 0 0 rg BT 193.84 517.70 Td (investments ) Tj ET Q
q 0 0 0 rg BT 246.04 517.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 256.25 517.70 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 304.94 517.70 Td (fund ) Tj ET Q
q 0 0 0 rg BT 326.23 517.70 Td (products ) Tj ET Q
q 0 0 0 rg BT 364.43 517.70 Td (when ) Tj ET Q
q 0 0 0 rg BT 389.22 517.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 404.09 517.70 Td (related ) Tj ET Q
q 0 0 0 rg BT 434.69 517.70 Td (product ) Tj ET Q
q 0 0 0 rg BT 468.81 517.70 Td (establishes ) Tj ET Q
q 0 0 0 rg BT 516.34 517.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 523.05 517.70 Td (suf) Tj ET Q
q 0 0 0 rg BT 535.69 517.70 Td (ficient ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 505.10 Td (track ) Tj ET Q
q 0 0 0 rg BT 72.98 505.10 Td (record, ) Tj ET Q
q 0 0 0 rg BT 104.91 505.10 Td (when ) Tj ET Q
q 0 0 0 rg BT 130.15 505.10 Td (third-party ) Tj ET Q
q 0 0 0 rg BT 177.54 505.10 Td (investments ) Tj ET Q
q 0 0 0 rg BT 230.20 505.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 240.86 505.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 256.18 505.10 Td (related ) Tj ET Q
q 0 0 0 rg BT 287.24 505.10 Td (product ) Tj ET Q
q 0 0 0 rg BT 321.81 505.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 337.12 505.10 Td (suf) Tj ET Q
q 0 0 0 rg BT 349.76 505.10 Td (ficient ) Tj ET Q
q 0 0 0 rg BT 379.08 505.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 389.74 505.10 Td (sustain ) Tj ET Q
q 0 0 0 rg BT 421.40 505.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 436.72 505.10 Td (strategy) Tj ET Q
q 0 0 0 rg BT 469.28 505.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 474.40 505.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 485.63 505.10 Td (when ) Tj ET Q
q 0 0 0 rg BT 510.87 505.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 518.03 505.10 Td (decision ) Tj ET Q
q 0 0 0 rg BT 555.51 505.10 Td (is ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 492.50 Td (made ) Tj ET Q
q 0 0 0 rg BT 75.01 492.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 85.96 492.50 Td (no ) Tj ET Q
q 0 0 0 rg BT 99.23 492.50 Td (longer ) Tj ET Q
q 0 0 0 rg BT 128.83 492.50 Td (pursue ) Tj ET Q
q 0 0 0 rg BT 159.60 492.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 175.20 492.50 Td (strategy) Tj ET Q
q 0 0 0 rg BT 207.76 492.50 Td (. ) Tj ET Q
q 0 0 0 rg BT 213.16 492.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 215.73 492.50 Td (The ) Tj ET Q
q 0 0 0 rg BT 234.83 492.50 Td (length ) Tj ET Q
q 0 0 0 rg BT 263.85 492.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 275.38 492.50 Td (time ) Tj ET Q
q 0 0 0 rg BT 296.81 492.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 321.16 492.50 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 352.52 492.50 Td (holds ) Tj ET Q
q 0 0 0 rg BT 378.05 492.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 385.49 492.50 Td (majority ) Tj ET Q
q 0 0 0 rg BT 423.84 492.50 Td (interest ) Tj ET Q
q 0 0 0 rg BT 457.52 492.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 468.46 492.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 475.90 492.50 Td (product ) Tj ET Q
q 0 0 0 rg BT 510.75 492.50 Td (varies ) Tj ET Q
q 0 0 0 rg BT 538.59 492.50 Td (based ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 479.90 Td (on ) Tj ET Q
q 0 0 0 rg BT 62.63 479.90 Td (a ) Tj ET Q
q 0 0 0 rg BT 69.91 479.90 Td (number ) Tj ET Q
q 0 0 0 rg BT 104.61 479.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 115.98 479.90 Td (factors, ) Tj ET Q
q 0 0 0 rg BT 149.80 479.90 Td (such ) Tj ET Q
q 0 0 0 rg BT 171.67 479.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 183.04 479.90 Td (market ) Tj ET Q
q 0 0 0 rg BT 214.82 479.90 Td (demand, ) Tj ET Q
q 0 0 0 rg BT 253.31 479.90 Td (market ) Tj ET Q
q 0 0 0 rg BT 285.09 479.90 Td (conditions ) Tj ET Q
q 0 0 0 rg BT 331.46 479.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 349.25 479.90 Td (investment ) Tj ET Q
q 0 0 0 rg BT 397.95 479.90 Td (performance.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 457.30 Td (See ) Tj ET Q
q 0 0 0 rg BT 67.63 457.30 Td (Notes ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 95.09 457.30 Td (3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 100.34 457.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 103.30 457.30 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 121.43 457.30 Td (17) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 131.93 457.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 134.89 457.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 150.10 457.30 Td (additional ) Tj ET Q
q 0 0 0 rg BT 195.06 457.30 Td (information ) Tj ET Q
q 0 0 0 rg BT 247.60 457.30 Td (regarding ) Tj ET Q
q 0 0 0 rg BT 290.79 457.30 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 315.33 457.30 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 352.86 457.30 Td (seed ) Tj ET Q
q 0 0 0 rg BT 374.48 457.30 Td (capital ) Tj ET Q
q 0 0 0 rg BT 405.43 457.30 Td (investments ) Tj ET Q
q 0 0 0 rg BT 458.56 457.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 476.69 457.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 492.48 457.30 Td (determination ) Tj ET Q
q 0 0 0 rg BT 553.76 457.30 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 444.70 Td (whether ) Tj ET Q
q 0 0 0 rg BT 85.94 444.70 Td (investments ) Tj ET Q
q 0 0 0 rg BT 138.73 444.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 149.52 444.70 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 198.80 444.70 Td (fund ) Tj ET Q
q 0 0 0 rg BT 220.67 444.70 Td (products ) Tj ET Q
q 0 0 0 rg BT 259.45 444.70 Td (represent ) Tj ET Q
q 0 0 0 rg BT 300.37 444.70 Td (VIEs, ) Tj ET Q
q 0 0 0 rg BT 327.20 444.70 Td (respectively) Tj ET Q
q 0 0 0 rg BT 377.24 444.70 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 422.10 Td (For ) Tj ET Q
q 0 0 0 rg BT 66.60 422.10 Td (equity ) Tj ET Q
q 0 0 0 rg BT 95.36 422.10 Td (investments ) Tj ET Q
q 0 0 0 rg BT 148.03 422.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 158.71 422.10 Td (which ) Tj ET Q
q 0 0 0 rg BT 186.89 422.10 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 210.97 422.10 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 242.07 422.10 Td (does ) Tj ET Q
q 0 0 0 rg BT 263.83 422.10 Td (not ) Tj ET Q
q 0 0 0 rg BT 279.76 422.10 Td (control ) Tj ET Q
q 0 0 0 rg BT 312.01 422.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 327.35 422.10 Td (investee ) Tj ET Q
q 0 0 0 rg BT 364.27 422.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 381.94 422.10 Td (is ) Tj ET Q
q 0 0 0 rg BT 391.46 422.10 Td (not ) Tj ET Q
q 0 0 0 rg BT 407.39 422.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 422.73 422.10 Td (primary ) Tj ET Q
q 0 0 0 rg BT 458.48 422.10 Td (beneficiary ) Tj ET Q
q 0 0 0 rg BT 508.21 422.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 519.47 422.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 526.46 422.10 Td (VIE, ) Tj ET Q
q 0 0 0 rg BT 549.09 422.10 Td (but ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 409.50 Td (can ) Tj ET Q
q 0 0 0 rg BT 67.54 409.50 Td (exert ) Tj ET Q
q 0 0 0 rg BT 92.00 409.50 Td (significant ) Tj ET Q
q 0 0 0 rg BT 139.80 409.50 Td (influence ) Tj ET Q
q 0 0 0 rg BT 182.33 409.50 Td (over ) Tj ET Q
q 0 0 0 rg BT 204.46 409.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 220.76 409.50 Td (financial ) Tj ET Q
q 0 0 0 rg BT 260.97 409.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 279.60 409.50 Td (operating ) Tj ET Q
q 0 0 0 rg BT 322.72 409.50 Td (policies ) Tj ET Q
q 0 0 0 rg BT 358.86 409.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 371.07 409.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 387.38 409.50 Td (investee, ) Tj ET Q
q 0 0 0 rg BT 427.88 409.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 452.92 409.50 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 484.98 409.50 Td (follows ) Tj ET Q
q 0 0 0 rg BT 519.95 409.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 536.25 409.50 Td (equity ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 396.90 Td (method ) Tj ET Q
q 0 0 0 rg BT 83.54 396.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 94.83 396.90 Td (accounting. ) Tj ET Q
q 0 0 0 rg BT 146.07 396.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 148.43 396.90 Td (The ) Tj ET Q
q 0 0 0 rg BT 167.30 396.90 Td (evaluation ) Tj ET Q
q 0 0 0 rg BT 213.58 396.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 224.87 396.90 Td (whether ) Tj ET Q
q 0 0 0 rg BT 261.24 396.90 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 285.36 396.90 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 316.49 396.90 Td (can ) Tj ET Q
q 0 0 0 rg BT 333.60 396.90 Td (exert ) Tj ET Q
q 0 0 0 rg BT 357.13 396.90 Td (control ) Tj ET Q
q 0 0 0 rg BT 389.42 396.90 Td (or ) Tj ET Q
q 0 0 0 rg BT 400.71 396.90 Td (significant ) Tj ET Q
q 0 0 0 rg BT 447.58 396.90 Td (influence ) Tj ET Q
q 0 0 0 rg BT 489.19 396.90 Td (over ) Tj ET Q
q 0 0 0 rg BT 510.40 396.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 525.77 396.90 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 384.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 66.87 384.30 Td (operational ) Tj ET Q
q 0 0 0 rg BT 116.32 384.30 Td (policies ) Tj ET Q
q 0 0 0 rg BT 151.19 384.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 162.15 384.30 Td (an ) Tj ET Q
q 0 0 0 rg BT 174.28 384.30 Td (investee ) Tj ET Q
q 0 0 0 rg BT 210.89 384.30 Td (requires ) Tj ET Q
q 0 0 0 rg BT 246.92 384.30 Td (significant ) Tj ET Q
q 0 0 0 rg BT 293.46 384.30 Td (judgment ) Tj ET Q
q 0 0 0 rg BT 335.34 384.30 Td (based ) Tj ET Q
q 0 0 0 rg BT 361.46 384.30 Td (on ) Tj ET Q
q 0 0 0 rg BT 374.17 384.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 389.21 384.30 Td (facts ) Tj ET Q
q 0 0 0 rg BT 411.25 384.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 428.62 384.30 Td (circumstances ) Tj ET Q
q 0 0 0 rg BT 490.31 384.30 Td (surrounding ) Tj ET Q
q 0 0 0 rg BT 543.27 384.30 Td (each ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 371.70 Td (individual ) Tj ET Q
q 0 0 0 rg BT 95.02 371.70 Td (investment. ) Tj ET Q
q 0 0 0 rg BT 146.66 371.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 149.60 371.70 Td (Factors ) Tj ET Q
q 0 0 0 rg BT 183.45 371.70 Td (considered ) Tj ET Q
q 0 0 0 rg BT 231.87 371.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 242.98 371.70 Td (these ) Tj ET Q
q 0 0 0 rg BT 267.49 371.70 Td (evaluations ) Tj ET Q
q 0 0 0 rg BT 318.25 371.70 Td (may ) Tj ET Q
q 0 0 0 rg BT 339.27 371.70 Td (include ) Tj ET Q
q 0 0 0 rg BT 373.11 371.70 Td (investor ) Tj ET Q
q 0 0 0 rg BT 409.88 371.70 Td (voting ) Tj ET Q
q 0 0 0 rg BT 439.66 371.70 Td (or ) Tj ET Q
q 0 0 0 rg BT 451.34 371.70 Td (other ) Tj ET Q
q 0 0 0 rg BT 475.86 371.70 Td (rights, ) Tj ET Q
q 0 0 0 rg BT 505.34 371.70 Td (any ) Tj ET Q
q 0 0 0 rg BT 523.44 371.70 Td (influence ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 359.10 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 74.02 359.10 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 105.55 359.10 Td (may ) Tj ET Q
q 0 0 0 rg BT 126.58 359.10 Td (have ) Tj ET Q
q 0 0 0 rg BT 149.35 359.10 Td (on ) Tj ET Q
q 0 0 0 rg BT 162.80 359.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 178.58 359.10 Td (governing ) Tj ET Q
q 0 0 0 rg BT 224.10 359.10 Td (board ) Tj ET Q
q 0 0 0 rg BT 250.95 359.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 262.65 359.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 278.42 359.10 Td (investee, ) Tj ET Q
q 0 0 0 rg BT 318.40 359.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 334.18 359.10 Td (legal ) Tj ET Q
q 0 0 0 rg BT 357.53 359.10 Td (rights ) Tj ET Q
q 0 0 0 rg BT 384.40 359.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 396.09 359.10 Td (other ) Tj ET Q
q 0 0 0 rg BT 420.62 359.10 Td (investors ) Tj ET Q
q 0 0 0 rg BT 461.48 359.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 472.60 359.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 488.37 359.10 Td (entity ) Tj ET Q
q 0 0 0 rg BT 515.23 359.10 Td (pursuant ) Tj ET Q
q 0 0 0 rg BT 554.34 359.10 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 346.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.08 346.50 Td (fund's ) Tj ET Q
q 0 0 0 rg BT 93.05 346.50 Td (operating ) Tj ET Q
q 0 0 0 rg BT 135.45 346.50 Td (documents ) Tj ET Q
q 0 0 0 rg BT 183.69 346.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 201.60 346.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 217.18 346.50 Td (relationship ) Tj ET Q
q 0 0 0 rg BT 269.50 346.50 Td (between ) Tj ET Q
q 0 0 0 rg BT 307.23 346.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 331.55 346.50 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 362.88 346.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 380.79 346.50 Td (other ) Tj ET Q
q 0 0 0 rg BT 405.11 346.50 Td (investors ) Tj ET Q
q 0 0 0 rg BT 445.78 346.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 456.69 346.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 472.27 346.50 Td (entity) Tj ET Q
q 0 0 0 rg BT 495.50 346.50 Td (. ) Tj ET Q
q 0 0 0 rg BT 500.87 346.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 503.62 346.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 527.94 346.50 Td (Mason's ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 333.90 Td (equity ) Tj ET Q
q 0 0 0 rg BT 78.26 333.90 Td (method ) Tj ET Q
q 0 0 0 rg BT 112.28 333.90 Td (investees ) Tj ET Q
q 0 0 0 rg BT 153.28 333.90 Td (that ) Tj ET Q
q 0 0 0 rg BT 171.55 333.90 Td (are ) Tj ET Q
q 0 0 0 rg BT 186.88 333.90 Td (investment ) Tj ET Q
q 0 0 0 rg BT 235.48 333.90 Td (companies ) Tj ET Q
q 0 0 0 rg BT 282.90 333.90 Td (record ) Tj ET Q
q 0 0 0 rg BT 312.23 333.90 Td (their ) Tj ET Q
q 0 0 0 rg BT 333.99 333.90 Td (underlying ) Tj ET Q
q 0 0 0 rg BT 382.00 333.90 Td (investments ) Tj ET Q
q 0 0 0 rg BT 434.68 333.90 Td (at ) Tj ET Q
q 0 0 0 rg BT 444.78 333.90 Td (fair ) Tj ET Q
q 0 0 0 rg BT 461.87 333.90 Td (value. ) Tj ET Q
q 0 0 0 rg BT 489.75 333.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 492.08 333.90 Td (Therefore, ) Tj ET Q
q 0 0 0 rg BT 538.61 333.90 Td (under ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 321.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 63.89 321.30 Td (equity ) Tj ET Q
q 0 0 0 rg BT 91.71 321.30 Td (method ) Tj ET Q
q 0 0 0 rg BT 124.77 321.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 135.08 321.30 Td (accounting, ) Tj ET Q
q 0 0 0 rg BT 185.34 321.30 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 208.48 321.30 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 244.61 321.30 Td (share ) Tj ET Q
q 0 0 0 rg BT 268.33 321.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 278.64 321.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 293.04 321.30 Td (investee's ) Tj ET Q
q 0 0 0 rg BT 334.99 321.30 Td (underlying ) Tj ET Q
q 0 0 0 rg BT 382.04 321.30 Td (net ) Tj ET Q
q 0 0 0 rg BT 396.44 321.30 Td (income ) Tj ET Q
q 0 0 0 rg BT 428.91 321.30 Td (or ) Tj ET Q
q 0 0 0 rg BT 439.22 321.30 Td (loss ) Tj ET Q
q 0 0 0 rg BT 457.13 321.30 Td (predominantly ) Tj ET Q
q 0 0 0 rg BT 519.94 321.30 Td (represents ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 308.70 Td (fair ) Tj ET Q
q 0 0 0 rg BT 67.50 308.70 Td (value ) Tj ET Q
q 0 0 0 rg BT 93.66 308.70 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 147.26 308.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 158.85 308.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 175.11 308.70 Td (investments ) Tj ET Q
q 0 0 0 rg BT 228.70 308.70 Td (held ) Tj ET Q
q 0 0 0 rg BT 250.20 308.70 Td (by ) Tj ET Q
q 0 0 0 rg BT 264.13 308.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 280.39 308.70 Td (equity ) Tj ET Q
q 0 0 0 rg BT 310.06 308.70 Td (method ) Tj ET Q
q 0 0 0 rg BT 344.98 308.70 Td (investee. ) Tj ET Q
q 0 0 0 rg BT 385.44 308.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 388.86 308.70 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 413.87 308.70 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 451.85 308.70 Td (share ) Tj ET Q
q 0 0 0 rg BT 477.44 308.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 489.61 308.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 505.87 308.70 Td (investee's ) Tj ET Q
q 0 0 0 rg BT 549.67 308.70 Td (net ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 296.10 Td (income ) Tj ET Q
q 0 0 0 rg BT 82.84 296.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 94.02 296.10 Td (loss ) Tj ET Q
q 0 0 0 rg BT 112.80 296.10 Td (is ) Tj ET Q
q 0 0 0 rg BT 122.23 296.10 Td (based ) Tj ET Q
q 0 0 0 rg BT 148.58 296.10 Td (on ) Tj ET Q
q 0 0 0 rg BT 161.51 296.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 176.77 296.10 Td (most ) Tj ET Q
q 0 0 0 rg BT 199.63 296.10 Td (current ) Tj ET Q
q 0 0 0 rg BT 231.79 296.10 Td (information ) Tj ET Q
q 0 0 0 rg BT 283.80 296.10 Td (available ) Tj ET Q
q 0 0 0 rg BT 324.13 296.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 341.72 296.10 Td (is ) Tj ET Q
q 0 0 0 rg BT 351.16 296.10 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 390.32 296.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 401.50 296.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 408.60 296.10 Td (net ) Tj ET Q
q 0 0 0 rg BT 423.86 296.10 Td (gain ) Tj ET Q
q 0 0 0 rg BT 444.37 296.10 Td (\(loss\) ) Tj ET Q
q 0 0 0 rg BT 470.14 296.10 Td (on ) Tj ET Q
q 0 0 0 rg BT 483.07 296.10 Td (investments ) Tj ET Q
q 0 0 0 rg BT 535.67 296.10 Td (within ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 283.50 Td (Other ) Tj ET Q
q 0 0 0 rg BT 77.01 283.50 Td (non-operating ) Tj ET Q
q 0 0 0 rg BT 139.51 283.50 Td (income ) Tj ET Q
q 0 0 0 rg BT 174.02 283.50 Td (\(expense\), ) Tj ET Q
q 0 0 0 rg BT 221.05 283.50 Td (net. ) Tj ET Q
q 0 0 0 rg BT 240.11 283.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 242.91 283.50 Td (A) Tj ET Q
q 0 0 0 rg BT 249.92 283.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 253.52 283.50 Td (portion ) Tj ET Q
q 0 0 0 rg BT 287.45 283.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 299.80 283.50 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 338.97 283.50 Td (\(losses\) ) Tj ET Q
q 0 0 0 rg BT 374.65 283.50 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 426.07 283.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 437.83 283.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 463.01 283.50 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 501.17 283.50 Td (equity ) Tj ET Q
q 0 0 0 rg BT 531.02 283.50 Td (method ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 270.90 Td (investments ) Tj ET Q
q 0 0 0 rg BT 106.19 270.90 Td (has ) Tj ET Q
q 0 0 0 rg BT 126.71 270.90 Td (of) Tj ET Q
q 0 0 0 rg BT 135.26 270.90 Td (fsetting ) Tj ET Q
q 0 0 0 rg BT 173.28 270.90 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 238.13 270.90 Td (expense ) Tj ET Q
q 0 0 0 rg BT 278.47 270.90 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 335.15 270.90 Td (under ) Tj ET Q
q 0 0 0 rg BT 365.58 270.90 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 405.33 270.90 Td (sharing ) Tj ET Q
q 0 0 0 rg BT 442.77 270.90 Td (arrangements ) Tj ET Q
q 0 0 0 rg BT 505.85 270.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 527.53 270.90 Td (deferred ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 258.30 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 111.18 258.30 Td (arrangements, ) Tj ET Q
q 0 0 0 rg BT 173.71 258.30 Td (therefore, ) Tj ET Q
q 0 0 0 rg BT 217.58 258.30 Td (fluctuations ) Tj ET Q
q 0 0 0 rg BT 270.51 258.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 282.03 258.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 298.21 258.30 Td (market ) Tj ET Q
q 0 0 0 rg BT 330.72 258.30 Td (value ) Tj ET Q
q 0 0 0 rg BT 356.81 258.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 368.92 258.30 Td (investments ) Tj ET Q
q 0 0 0 rg BT 422.43 258.30 Td (with ) Tj ET Q
q 0 0 0 rg BT 444.46 258.30 Td (such ) Tj ET Q
q 0 0 0 rg BT 467.06 258.30 Td (of) Tj ET Q
q 0 0 0 rg BT 475.62 258.30 Td (fsets ) Tj ET Q
q 0 0 0 rg BT 498.22 258.30 Td (will ) Tj ET Q
q 0 0 0 rg BT 517.91 258.30 Td (not ) Tj ET Q
q 0 0 0 rg BT 534.68 258.30 Td (have ) Tj ET Q
q 0 0 0 rg BT 557.85 258.30 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 245.70 Td (material ) Tj ET Q
q 0 0 0 rg BT 86.52 245.70 Td (impact ) Tj ET Q
q 0 0 0 rg BT 117.72 245.70 Td (on ) Tj ET Q
q 0 0 0 rg BT 130.85 245.70 Td (Net ) Tj ET Q
q 0 0 0 rg BT 148.63 245.70 Td (Income ) Tj ET Q
q 0 0 0 rg BT 182.74 245.70 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 211.62 245.70 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 264.98 245.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 275.78 245.70 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 299.98 245.70 Td (Mason,�Inc.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 220.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 72.74 220.50 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 103.00 220.50 Td (also ) Tj ET Q
q 0 0 0 rg BT 121.58 220.50 Td (holds ) Tj ET Q
q 0 0 0 rg BT 146.00 220.50 Td (debt ) Tj ET Q
q 0 0 0 rg BT 165.75 220.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 182.58 220.50 Td (marketable ) Tj ET Q
q 0 0 0 rg BT 230.89 220.50 Td (equity ) Tj ET Q
q 0 0 0 rg BT 258.80 220.50 Td (investments ) Tj ET Q
q 0 0 0 rg BT 310.64 220.50 Td (which ) Tj ET Q
q 0 0 0 rg BT 337.97 220.50 Td (are ) Tj ET Q
q 0 0 0 rg BT 352.45 220.50 Td (classified ) Tj ET Q
q 0 0 0 rg BT 393.78 220.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 404.19 220.50 Td (trading. ) Tj ET Q
q 0 0 0 rg BT 438.23 220.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 439.90 220.50 Td (Certain ) Tj ET Q
q 0 0 0 rg BT 472.47 220.50 Td (investment ) Tj ET Q
q 0 0 0 rg BT 520.22 220.50 Td (securities, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 207.90 Td (including ) Tj ET Q
q 0 0 0 rg BT 92.48 207.90 Td (those ) Tj ET Q
q 0 0 0 rg BT 117.97 207.90 Td (held ) Tj ET Q
q 0 0 0 rg BT 139.37 207.90 Td (by ) Tj ET Q
q 0 0 0 rg BT 153.19 207.90 Td (CIVs, ) Tj ET Q
q 0 0 0 rg BT 181.30 207.90 Td (are ) Tj ET Q
q 0 0 0 rg BT 197.44 207.90 Td (also ) Tj ET Q
q 0 0 0 rg BT 217.67 207.90 Td (classified ) Tj ET Q
q 0 0 0 rg BT 260.65 207.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 272.71 207.90 Td (trading ) Tj ET Q
q 0 0 0 rg BT 305.77 207.90 Td (securities. ) Tj ET Q
q 0 0 0 rg BT 351.37 207.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 354.45 207.90 Td (These ) Tj ET Q
q 0 0 0 rg BT 382.84 207.90 Td (investments ) Tj ET Q
q 0 0 0 rg BT 436.33 207.90 Td (are ) Tj ET Q
q 0 0 0 rg BT 452.47 207.90 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 492.51 207.90 Td (at ) Tj ET Q
q 0 0 0 rg BT 503.41 207.90 Td (fair ) Tj ET Q
q 0 0 0 rg BT 521.30 207.90 Td (value ) Tj ET Q
q 0 0 0 rg BT 547.36 207.90 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 195.30 Td (unrealized ) Tj ET Q
q 0 0 0 rg BT 95.01 195.30 Td (gains ) Tj ET Q
q 0 0 0 rg BT 118.96 195.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 135.91 195.30 Td (losses ) Tj ET Q
q 0 0 0 rg BT 162.78 195.30 Td (are ) Tj ET Q
q 0 0 0 rg BT 177.39 195.30 Td (included ) Tj ET Q
q 0 0 0 rg BT 215.33 195.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 225.28 195.30 Td (current ) Tj ET Q
q 0 0 0 rg BT 256.80 195.30 Td (period ) Tj ET Q
q 0 0 0 rg BT 285.41 195.30 Td (earnings. ) Tj ET Q
q 0 0 0 rg BT 325.40 195.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 327.18 195.30 Td (Realized ) Tj ET Q
q 0 0 0 rg BT 365.70 195.30 Td (gains ) Tj ET Q
q 0 0 0 rg BT 389.65 195.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 406.60 195.30 Td (losses ) Tj ET Q
q 0 0 0 rg BT 433.47 195.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 447.50 195.30 Td (all ) Tj ET Q
q 0 0 0 rg BT 459.79 195.30 Td (investments ) Tj ET Q
q 0 0 0 rg BT 511.74 195.30 Td (are ) Tj ET Q
q 0 0 0 rg BT 526.34 195.30 Td (included ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 182.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.29 182.70 Td (current ) Tj ET Q
q 0 0 0 rg BT 92.65 182.70 Td (period ) Tj ET Q
q 0 0 0 rg BT 122.10 182.70 Td (earnings.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 157.50 Td (Equity ) Tj ET Q
q 0 0 0 rg BT 80.95 157.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 99.57 157.50 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 124.59 157.50 Td (income ) Tj ET Q
q 0 0 0 rg BT 158.95 157.50 Td (securities ) Tj ET Q
q 0 0 0 rg BT 202.06 157.50 Td (classified ) Tj ET Q
q 0 0 0 rg BT 245.17 157.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 257.37 157.50 Td (trading ) Tj ET Q
q 0 0 0 rg BT 290.56 157.50 Td (are ) Tj ET Q
q 0 0 0 rg BT 306.83 157.50 Td (valued ) Tj ET Q
q 0 0 0 rg BT 338.28 157.50 Td (using ) Tj ET Q
q 0 0 0 rg BT 364.48 157.50 Td (closing ) Tj ET Q
q 0 0 0 rg BT 398.27 157.50 Td (market ) Tj ET Q
q 0 0 0 rg BT 430.87 157.50 Td (prices ) Tj ET Q
q 0 0 0 rg BT 459.40 157.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 475.09 157.50 Td (listed ) Tj ET Q
q 0 0 0 rg BT 501.30 157.50 Td (instruments ) Tj ET Q
q 0 0 0 rg BT 553.75 157.50 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 144.90 Td (broker ) Tj ET Q
q 0 0 0 rg BT 79.33 144.90 Td (price ) Tj ET Q
q 0 0 0 rg BT 102.74 144.90 Td (quotations, ) Tj ET Q
q 0 0 0 rg BT 151.54 144.90 Td (when ) Tj ET Q
q 0 0 0 rg BT 176.70 144.90 Td (available. ) Tj ET Q
q 0 0 0 rg BT 219.65 144.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 222.07 144.90 Td (Fixed ) Tj ET Q
q 0 0 0 rg BT 248.41 144.90 Td (income ) Tj ET Q
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q 0 0 0 rg BT 277.30 565.35 Td (investments. ) Tj ET Q
q 0 0 0 rg BT 333.04 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 335.35 565.35 Td (As ) Tj ET Q
q 0 0 0 rg BT 349.97 565.35 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 393.17 565.35 Td (above, ) Tj ET Q
q 0 0 0 rg BT 423.83 565.35 Td (during ) Tj ET Q
q 0 0 0 rg BT 454.19 565.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 469.98 565.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 491.00 565.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 519.02 565.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 549.38 565.35 Td (31, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 76.34 552.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 101.13 552.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 132.93 552.75 Td (entered ) Tj ET Q
q 0 0 0 rg BT 167.04 552.75 Td (into ) Tj ET Q
q 0 0 0 rg BT 186.59 552.75 Td (various ) Tj ET Q
q 0 0 0 rg BT 220.71 552.75 Td (total ) Tj ET Q
q 0 0 0 rg BT 242.59 552.75 Td (return ) Tj ET Q
q 0 0 0 rg BT 270.88 552.75 Td (swap ) Tj ET Q
q 0 0 0 rg BT 295.67 552.75 Td (arrangements ) Tj ET Q
q 0 0 0 rg BT 355.45 552.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 377.33 552.75 Td (financial ) Tj ET Q
q 0 0 0 rg BT 417.27 552.75 Td (intermediaries ) Tj ET Q
q 0 0 0 rg BT 480.55 552.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 502.43 552.75 Td (respect ) Tj ET Q
q 0 0 0 rg BT 535.38 552.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 546.76 552.75 Td (two ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 73.92 540.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 105.35 540.15 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 150.78 540.15 Td (ETFs ) Tj ET Q
q 0 0 0 rg BT 176.38 540.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 191.46 540.15 Td (initial ) Tj ET Q
q 0 0 0 rg BT 218.81 540.15 Td (aggregate ) Tj ET Q
q 0 0 0 rg BT 262.46 540.15 Td (notional ) Tj ET Q
q 0 0 0 rg BT 299.72 540.15 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 338.15 540.15 Td (totaling ) Tj ET Q
q 0 0 0 rg BT 373.07 540.15 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 378.32 540.15 Td (48,639) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 407.20 540.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 410.04 540.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 438.55 540.15 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 474.64 540.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 485.65 540.15 Td (investments ) Tj ET Q
q 0 0 0 rg BT 538.66 540.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 549.67 540.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (ETFs ) Tj ET Q
q 0 0 0 rg BT 74.53 527.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 87.31 527.55 Td (each ) Tj ET Q
q 0 0 0 rg BT 108.82 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 119.84 527.55 Td (those ) Tj ET Q
q 0 0 0 rg BT 144.28 527.55 Td (financial ) Tj ET Q
q 0 0 0 rg BT 183.29 527.55 Td (intermediaries. ) Tj ET Q
q 0 0 0 rg BT 248.25 527.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 250.02 527.55 Td (As ) Tj ET Q
q 0 0 0 rg BT 263.97 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 274.99 527.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 304.67 527.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 320.07 527.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 345.97 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 361.08 527.55 Td (aggregate ) Tj ET Q
q 0 0 0 rg BT 404.16 527.55 Td (notional ) Tj ET Q
q 0 0 0 rg BT 440.85 527.55 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 478.71 527.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 509.55 527.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 519.99 527.55 Td (these ) Tj ET Q
q 0 0 0 rg BT 543.84 527.55 Td (total ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (return ) Tj ET Q
q 0 0 0 rg BT 77.64 514.95 Td (swap ) Tj ET Q
q 0 0 0 rg BT 102.28 514.95 Td (arrangements ) Tj ET Q
q 0 0 0 rg BT 161.91 514.95 Td (totaled ) Tj ET Q
q 0 0 0 rg BT 193.55 514.95 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 198.80 514.95 Td (50,071) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 227.67 514.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 233.36 514.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 236.21 514.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 255.60 514.95 Td (total ) Tj ET Q
q 0 0 0 rg BT 277.33 514.95 Td (return ) Tj ET Q
q 0 0 0 rg BT 305.46 514.95 Td (swap ) Tj ET Q
q 0 0 0 rg BT 330.11 514.95 Td (arrangements ) Tj ET Q
q 0 0 0 rg BT 389.73 514.95 Td (qualify ) Tj ET Q
q 0 0 0 rg BT 422.54 514.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 434.35 514.95 Td (derivative ) Tj ET Q
q 0 0 0 rg BT 479.40 514.95 Td (instruments ) Tj ET Q
q 0 0 0 rg BT 531.47 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 549.69 514.95 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 65.48 502.35 Td (designated ) Tj ET Q
q 0 0 0 rg BT 112.95 502.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 127.75 502.35 Td (hedge ) Tj ET Q
q 0 0 0 rg BT 155.39 502.35 Td (accounting. ) Tj ET Q
q 0 0 0 rg BT 206.64 502.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 209.21 502.35 Td (In ) Tj ET Q
q 0 0 0 rg BT 220.52 502.35 Td (connection ) Tj ET Q
q 0 0 0 rg BT 269.15 502.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 290.38 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 305.77 502.35 Td (arrangements, ) Tj ET Q
q 0 0 0 rg BT 367.52 502.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 391.66 502.35 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 422.80 502.35 Td (also ) Tj ET Q
q 0 0 0 rg BT 442.28 502.35 Td (executed ) Tj ET Q
q 0 0 0 rg BT 482.15 502.35 Td (futures ) Tj ET Q
q 0 0 0 rg BT 513.88 502.35 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 554.34 502.35 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (partially ) Tj ET Q
q 0 0 0 rg BT 87.11 489.75 Td (hedge ) Tj ET Q
q 0 0 0 rg BT 114.81 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 130.26 489.75 Td (market ) Tj ET Q
q 0 0 0 rg BT 162.04 489.75 Td (risk ) Tj ET Q
q 0 0 0 rg BT 180.42 489.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 211.60 489.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 222.40 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 237.85 489.75 Td (total ) Tj ET Q
q 0 0 0 rg BT 259.14 489.75 Td (return ) Tj ET Q
q 0 0 0 rg BT 286.83 489.75 Td (swap ) Tj ET Q
q 0 0 0 rg BT 311.04 489.75 Td (arrangements.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (W) Tj ET Q
q 0 0 0 rg BT 58.99 464.55 Td (ith ) Tj ET Q
q 0 0 0 rg BT 73.59 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 89.93 464.55 Td (exception ) Tj ET Q
q 0 0 0 rg BT 134.26 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 146.52 464.55 Td (interest ) Tj ET Q
q 0 0 0 rg BT 180.93 464.55 Td (rate ) Tj ET Q
q 0 0 0 rg BT 200.18 464.55 Td (swaps, ) Tj ET Q
q 0 0 0 rg BT 231.99 464.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 244.25 464.55 Td (further ) Tj ET Q
q 0 0 0 rg BT 276.33 464.55 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 320.09 464.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 331.77 464.55 Td (Note ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 355.69 464.55 Td (6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 360.94 464.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 367.08 464.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 392.16 464.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 424.26 464.55 Td (has ) Tj ET Q
q 0 0 0 rg BT 441.77 464.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 458.70 464.55 Td (designated ) Tj ET Q
q 0 0 0 rg BT 507.11 464.55 Td (any ) Tj ET Q
q 0 0 0 rg BT 525.79 464.55 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (instruments ) Tj ET Q
q 0 0 0 rg BT 100.95 451.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 115.63 451.95 Td (hedge ) Tj ET Q
q 0 0 0 rg BT 143.15 451.95 Td (accounting, ) Tj ET Q
q 0 0 0 rg BT 194.29 451.95 Td (as ) Tj ET Q
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q 0 0 0 rg BT 250.03 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 265.30 451.95 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 313.81 451.95 Td (literature, ) Tj ET Q
q 0 0 0 rg BT 356.78 451.95 Td (during ) Tj ET Q
q 0 0 0 rg BT 386.64 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 401.91 451.95 Td (periods ) Tj ET Q
q 0 0 0 rg BT 435.27 451.95 Td (presented. ) Tj ET Q
q 0 0 0 rg BT 480.57 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 482.84 451.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 501.61 451.95 Td (gains ) Tj ET Q
q 0 0 0 rg BT 526.22 451.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 537.42 451.95 Td (losses ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 62.76 439.35 Td (derivative ) Tj ET Q
q 0 0 0 rg BT 107.50 439.35 Td (instruments ) Tj ET Q
q 0 0 0 rg BT 159.26 439.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 175.44 439.35 Td (designated ) Tj ET Q
q 0 0 0 rg BT 223.11 439.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 238.11 439.35 Td (hedge ) Tj ET Q
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q 0 0 0 rg BT 314.77 439.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 330.35 439.35 Td (included ) Tj ET Q
q 0 0 0 rg BT 369.26 439.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 380.77 439.35 Td (Other ) Tj ET Q
q 0 0 0 rg BT 407.44 439.35 Td (operating ) Tj ET Q
q 0 0 0 rg BT 449.85 439.35 Td (income ) Tj ET Q
q 0 0 0 rg BT 483.52 439.35 Td (\(expense\) ) Tj ET Q
q 0 0 0 rg BT 527.09 439.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 538.60 439.35 Td (Other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (non-operating ) Tj ET Q
q 0 0 0 rg BT 110.42 426.75 Td (income ) Tj ET Q
q 0 0 0 rg BT 143.34 426.75 Td (\(expense\), ) Tj ET Q
q 0 0 0 rg BT 188.80 426.75 Td (net, ) Tj ET Q
q 0 0 0 rg BT 206.27 426.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 216.46 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 231.30 426.75 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 288.73 426.75 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 336.83 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 347.60 426.75 Td (Income ) Tj ET Q
q 0 0 0 rg BT 381.10 426.75 Td (\(Loss\), ) Tj ET Q
q 0 0 0 rg BT 412.57 426.75 Td (depending ) Tj ET Q
q 0 0 0 rg BT 458.33 426.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 470.85 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 485.70 426.75 Td (strategy) Tj ET Q
q 0 0 0 rg BT 518.25 426.75 Td (. ) Tj ET Q
q 0 0 0 rg BT 522.90 426.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 524.92 426.75 Td (See ) Tj ET Q
q 0 0 0 rg BT 542.10 426.75 Td (Note ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (15 ) Tj ET Q
q 0 0 0 rg BT 62.63 414.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 77.49 414.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 122.11 414.15 Td (information ) Tj ET Q
q 0 0 0 rg BT 174.31 414.15 Td (regarding ) Tj ET Q
q 0 0 0 rg BT 217.17 414.15 Td (derivatives ) Tj ET Q
q 0 0 0 rg BT 265.86 414.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 283.64 414.15 Td (hedging.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (Fair) Tj ET Q
q 0 0 0 rg BT 68.55 388.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 70.99 388.95 Td (V) Tj ET Q
q 0 0 0 rg BT 77.61 388.95 Td (alue ) Tj ET Q
q 0 0 0 rg BT 98.90 388.95 Td (Measur) Tj ET Q
q 0 0 0 rg BT 133.12 388.95 Td (ements) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (Accounting ) Tj ET Q
q 0 0 0 rg BT 101.09 376.35 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 141.58 376.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 156.43 376.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 173.60 376.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 198.93 376.35 Td (measurements ) Tj ET Q
q 0 0 0 rg BT 261.60 376.35 Td (defines ) Tj ET Q
q 0 0 0 rg BT 294.52 376.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 311.68 376.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 337.02 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 354.78 376.35 Td (establishes ) Tj ET Q
q 0 0 0 rg BT 402.87 376.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 410.13 376.35 Td (framework ) Tj ET Q
q 0 0 0 rg BT 458.79 376.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 473.63 376.35 Td (measuring ) Tj ET Q
q 0 0 0 rg BT 519.97 376.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 537.14 376.35 Td (value. ) Tj ET Q
q 0 0 0 rg BT 565.13 376.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (Fair ) Tj ET Q
q 0 0 0 rg BT 69.02 363.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 94.37 363.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 103.98 363.75 Td (defined ) Tj ET Q
q 0 0 0 rg BT 138.07 363.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 149.42 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 164.85 363.75 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 207.10 363.75 Td (price ) Tj ET Q
q 0 0 0 rg BT 230.69 363.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 249.04 363.75 Td (would ) Tj ET Q
q 0 0 0 rg BT 277.90 363.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 290.42 363.75 Td (received ) Tj ET Q
q 0 0 0 rg BT 328.58 363.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 343.43 363.75 Td (an ) Tj ET Q
q 0 0 0 rg BT 355.95 363.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 378.96 363.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 390.32 363.75 Td (paid ) Tj ET Q
q 0 0 0 rg BT 411.00 363.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 421.77 363.75 Td (transfer ) Tj ET Q
q 0 0 0 rg BT 456.44 363.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 463.71 363.75 Td (liability ) Tj ET Q
q 0 0 0 rg BT 498.98 363.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 509.76 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 525.19 363.75 Td (principal ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 59.57 351.15 Td (most ) Tj ET Q
q 0 0 0 rg BT 81.31 351.15 Td (advantageous ) Tj ET Q
q 0 0 0 rg BT 139.77 351.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 170.24 351.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 183.80 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 197.95 351.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 219.68 351.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 229.75 351.15 Td (liability ) Tj ET Q
q 0 0 0 rg BT 263.73 351.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 273.22 351.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 284.45 351.15 Td (orderly ) Tj ET Q
q 0 0 0 rg BT 316.09 351.15 Td (transaction ) Tj ET Q
q 0 0 0 rg BT 363.47 351.15 Td (between ) Tj ET Q
q 0 0 0 rg BT 399.78 351.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 430.25 351.15 Td (participants ) Tj ET Q
q 0 0 0 rg BT 480.55 351.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 492.37 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 506.52 351.15 Td (measurement ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (date. ) Tj ET Q
q 0 0 0 rg BT 72.52 338.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 75.43 338.55 Td (Under ) Tj ET Q
q 0 0 0 rg BT 104.58 338.55 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 153.55 338.55 Td (guidance, ) Tj ET Q
q 0 0 0 rg BT 196.98 338.55 Td (a ) Tj ET Q
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q 0 0 0 rg BT 222.03 338.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 247.67 338.55 Td (measurement ) Tj ET Q
q 0 0 0 rg BT 306.56 338.55 Td (should ) Tj ET Q
q 0 0 0 rg BT 337.47 338.55 Td (reflect ) Tj ET Q
q 0 0 0 rg BT 367.19 338.55 Td (all ) Tj ET Q
q 0 0 0 rg BT 380.59 338.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 392.24 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 407.98 338.55 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 462.81 338.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 481.46 338.55 Td (market ) Tj ET Q
q 0 0 0 rg BT 513.52 338.55 Td (participants ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (would ) Tj ET Q
q 0 0 0 rg BT 78.24 325.95 Td (use ) Tj ET Q
q 0 0 0 rg BT 94.72 325.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 105.38 325.95 Td (pricing ) Tj ET Q
q 0 0 0 rg BT 137.61 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 152.92 325.95 Td (asset ) Tj ET Q
q 0 0 0 rg BT 175.82 325.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 187.06 325.95 Td (liability) Tj ET Q
q 0 0 0 rg BT 219.04 325.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 224.15 325.95 Td (including ) Tj ET Q
q 0 0 0 rg BT 266.31 325.95 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 320.72 325.95 Td (about ) Tj ET Q
q 0 0 0 rg BT 346.53 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 361.85 325.95 Td (risk ) Tj ET Q
q 0 0 0 rg BT 380.09 325.95 Td (inherent ) Tj ET Q
q 0 0 0 rg BT 416.98 325.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 427.63 325.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 434.78 325.95 Td (particular ) Tj ET Q
q 0 0 0 rg BT 477.50 325.95 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 519.06 325.95 Td (technique, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.95 313.35 Td (ef) Tj ET Q
q 0 0 0 rg BT 72.92 313.35 Td (fect ) Tj ET Q
q 0 0 0 rg BT 91.28 313.35 Td (of ) Tj ET Q
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q 0 0 0 rg BT 109.94 313.35 Td (restriction ) Tj ET Q
q 0 0 0 rg BT 155.13 313.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 168.26 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 183.71 313.35 Td (sale ) Tj ET Q
q 0 0 0 rg BT 202.66 313.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 214.03 313.35 Td (use ) Tj ET Q
q 0 0 0 rg BT 230.66 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 242.03 313.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 254.56 313.35 Td (asset, ) Tj ET Q
q 0 0 0 rg BT 280.23 313.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 298.01 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 313.46 313.35 Td (risk ) Tj ET Q
q 0 0 0 rg BT 331.84 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 343.21 313.35 Td (non-performance.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.15 288.15 Td (objective ) Tj ET Q
q 0 0 0 rg BT 108.96 288.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 120.03 288.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 136.93 288.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 162.00 288.15 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 210.39 288.15 Td (measurements ) Tj ET Q
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q 0 0 0 rg BT 304.93 590.55 Td (based ) Tj ET Q
q 0 0 0 rg BT 331.11 590.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 343.88 590.55 Td (unobservable ) Tj ET Q
q 0 0 0 rg BT 402.14 590.55 Td (inputs, ) Tj ET Q
q 0 0 0 rg BT 432.70 590.55 Td (including ) Tj ET Q
q 0 0 0 rg BT 474.64 590.55 Td (those ) Tj ET Q
q 0 0 0 rg BT 499.08 590.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 513.59 590.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 541.53 590.55 Td (there ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 577.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 94.25 577.95 Td (little ) Tj ET Q
q 0 0 0 rg BT 115.24 577.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 125.72 577.95 Td (no ) Tj ET Q
q 0 0 0 rg BT 137.97 577.95 Td (market ) Tj ET Q
q 0 0 0 rg BT 168.86 577.95 Td (activity) Tj ET Q
q 0 0 0 rg BT 199.67 577.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 204.04 577.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 205.65 577.95 Td (This ) Tj ET Q
q 0 0 0 rg BT 226.06 577.95 Td (category ) Tj ET Q
q 0 0 0 rg BT 263.95 577.95 Td (includes ) Tj ET Q
q 0 0 0 rg BT 300.68 577.95 Td (investments ) Tj ET Q
q 0 0 0 rg BT 352.59 577.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 362.50 577.95 Td (partnerships, ) Tj ET Q
q 0 0 0 rg BT 418.19 577.95 Td (limited ) Tj ET Q
q 0 0 0 rg BT 449.68 577.95 Td (liability ) Tj ET Q
q 0 0 0 rg BT 484.08 577.95 Td (companies, ) Tj ET Q
q 0 0 0 rg BT 533.35 577.95 Td (private ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 565.35 Td (equity ) Tj ET Q
q 0 0 0 rg BT 113.30 565.35 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 140.80 565.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 157.51 565.35 Td (real ) Tj ET Q
q 0 0 0 rg BT 174.80 565.35 Td (estate ) Tj ET Q
q 0 0 0 rg BT 200.25 565.35 Td (funds. ) Tj ET Q
q 0 0 0 rg BT 227.76 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 229.20 565.35 Td (This ) Tj ET Q
q 0 0 0 rg BT 249.42 565.35 Td (category ) Tj ET Q
q 0 0 0 rg BT 287.11 565.35 Td (may ) Tj ET Q
q 0 0 0 rg BT 306.74 565.35 Td (also ) Tj ET Q
q 0 0 0 rg BT 325.20 565.35 Td (include ) Tj ET Q
q 0 0 0 rg BT 357.66 565.35 Td (certain ) Tj ET Q
q 0 0 0 rg BT 387.77 565.35 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 435.97 565.35 Td (fund ) Tj ET Q
q 0 0 0 rg BT 456.77 565.35 Td (products ) Tj ET Q
q 0 0 0 rg BT 494.48 565.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 514.69 565.35 Td (redemption ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.50 552.75 Td (restrictions ) Tj ET Q
q 0 0 0 rg BT 134.78 552.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 152.57 552.75 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 199.52 552.75 Td (consideration.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.91 527.55 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 111.07 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 122.91 527.55 Td (an ) Tj ET Q
q 0 0 0 rg BT 135.91 527.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 159.41 527.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 171.24 527.55 Td (liability ) Tj ET Q
q 0 0 0 rg BT 206.99 527.55 Td (may ) Tj ET Q
q 0 0 0 rg BT 228.16 527.55 Td (involve ) Tj ET Q
q 0 0 0 rg BT 262.74 527.55 Td (inputs ) Tj ET Q
q 0 0 0 rg BT 291.50 527.55 Td (from ) Tj ET Q
q 0 0 0 rg BT 315.00 527.55 Td (more ) Tj ET Q
q 0 0 0 rg BT 339.66 527.55 Td (than ) Tj ET Q
q 0 0 0 rg BT 360.83 527.55 Td (one ) Tj ET Q
q 0 0 0 rg BT 379.08 527.55 Td (level ) Tj ET Q
q 0 0 0 rg BT 402.57 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 414.41 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 430.32 527.55 Td (hierarchy) Tj ET Q
q 0 0 0 rg BT 469.28 527.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 475.00 527.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 477.86 527.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 497.27 527.55 Td (level ) Tj ET Q
q 0 0 0 rg BT 520.77 527.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 532.02 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 547.94 527.55 Td (fair ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 74.95 514.95 Td (hierarchy ) Tj ET Q
q 0 0 0 rg BT 117.31 514.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 128.19 514.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 156.56 514.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 163.94 514.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 181.22 514.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 206.67 514.95 Td (measurement ) Tj ET Q
q 0 0 0 rg BT 265.37 514.95 Td (falls ) Tj ET Q
q 0 0 0 rg BT 286.16 514.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 297.04 514.95 Td (its ) Tj ET Q
q 0 0 0 rg BT 309.67 514.95 Td (entirety ) Tj ET Q
q 0 0 0 rg BT 344.46 514.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 354.17 514.95 Td (determined ) Tj ET Q
q 0 0 0 rg BT 404.12 514.95 Td (based ) Tj ET Q
q 0 0 0 rg BT 430.74 514.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 443.95 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 459.49 514.95 Td (lowest ) Tj ET Q
q 0 0 0 rg BT 489.62 514.95 Td (level ) Tj ET Q
q 0 0 0 rg BT 512.74 514.95 Td (input ) Tj ET Q
q 0 0 0 rg BT 537.04 514.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 555.50 514.95 Td (is ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (significant ) Tj ET Q
q 0 0 0 rg BT 96.45 502.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 107.24 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 122.69 502.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 139.89 502.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 165.25 502.35 Td (measurement ) Tj ET Q
q 0 0 0 rg BT 223.86 502.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 234.65 502.35 Td (its ) Tj ET Q
q 0 0 0 rg BT 247.20 502.35 Td (entirety) Tj ET Q
q 0 0 0 rg BT 278.59 502.35 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (Certain ) Tj ET Q
q 0 0 0 rg BT 83.30 477.15 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 132.84 477.15 Td (fund ) Tj ET Q
q 0 0 0 rg BT 154.98 477.15 Td (products ) Tj ET Q
q 0 0 0 rg BT 194.04 477.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 212.09 477.15 Td (investments ) Tj ET Q
q 0 0 0 rg BT 265.15 477.15 Td (held ) Tj ET Q
q 0 0 0 rg BT 286.12 477.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 299.52 477.15 Td (CIVs ) Tj ET Q
q 0 0 0 rg BT 324.58 477.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 340.29 477.15 Td (valued ) Tj ET Q
q 0 0 0 rg BT 371.17 477.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 381.65 477.15 Td (net ) Tj ET Q
q 0 0 0 rg BT 397.37 477.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 420.67 477.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 446.31 477.15 Td (\("NA) Tj ET Q
q 0 0 0 rg BT 467.90 477.15 Td (V"\) ) Tj ET Q
q 0 0 0 rg BT 486.16 477.15 Td (determined ) Tj ET Q
q 0 0 0 rg BT 536.29 477.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 549.68 477.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (applicable ) Tj ET Q
q 0 0 0 rg BT 95.47 464.55 Td (fund ) Tj ET Q
q 0 0 0 rg BT 117.53 464.55 Td (administrator) Tj ET Q
q 0 0 0 rg BT 172.94 464.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 178.39 464.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 181.01 464.55 Td (These ) Tj ET Q
q 0 0 0 rg BT 208.90 464.55 Td (funds ) Tj ET Q
q 0 0 0 rg BT 235.05 464.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 250.69 464.55 Td (typically ) Tj ET Q
q 0 0 0 rg BT 290.26 464.55 Td (invested ) Tj ET Q
q 0 0 0 rg BT 328.07 464.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 339.06 464.55 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 381.52 464.55 Td (traded ) Tj ET Q
q 0 0 0 rg BT 410.58 464.55 Td (investments ) Tj ET Q
q 0 0 0 rg BT 463.56 464.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 485.05 464.55 Td (observable ) Tj ET Q
q 0 0 0 rg BT 533.36 464.55 Td (market ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (prices. ) Tj ET Q
q 0 0 0 rg BT 78.90 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 80.48 451.95 Td (Their ) Tj ET Q
q 0 0 0 rg BT 104.92 451.95 Td (valuations ) Tj ET Q
q 0 0 0 rg BT 149.78 451.95 Td (may ) Tj ET Q
q 0 0 0 rg BT 169.56 451.95 Td (be ) Tj ET Q
q 0 0 0 rg BT 181.17 451.95 Td (classified ) Tj ET Q
q 0 0 0 rg BT 222.53 451.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 232.98 451.95 Td (Level�1, ) Tj ET Q
q 0 0 0 rg BT 269.08 451.95 Td (Level�2, ) Tj ET Q
q 0 0 0 rg BT 305.19 451.95 Td (Level�3, ) Tj ET Q
q 0 0 0 rg BT 341.29 451.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 351.74 451.95 Td (NA) Tj ET Q
q 0 0 0 rg BT 365.56 451.95 Td (V) Tj ET Q
q 0 0 0 rg BT 372.95 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 374.65 451.95 Td (practical ) Tj ET Q
q 0 0 0 rg BT 412.49 451.95 Td (expedient ) Tj ET Q
q 0 0 0 rg BT 455.01 451.95 Td (\(further ) Tj ET Q
q 0 0 0 rg BT 488.78 451.95 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 530.73 451.95 Td (below\), ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (based ) Tj ET Q
q 0 0 0 rg BT 75.28 439.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 87.65 439.35 Td (whether ) Tj ET Q
q 0 0 0 rg BT 123.34 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 138.03 439.35 Td (fund ) Tj ET Q
q 0 0 0 rg BT 159.15 439.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 168.03 439.35 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 209.54 439.35 Td (traded, ) Tj ET Q
q 0 0 0 rg BT 240.27 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 254.97 439.35 Td (frequency ) Tj ET Q
q 0 0 0 rg BT 298.81 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 309.43 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 324.13 439.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 354.56 439.35 Td (NA) Tj ET Q
q 0 0 0 rg BT 368.37 439.35 Td (V) Tj ET Q
q 0 0 0 rg BT 375.77 439.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 377.64 439.35 Td (determinations ) Tj ET Q
q 0 0 0 rg BT 441.91 439.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 458.94 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 473.64 439.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 504.08 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 514.70 439.35 Td (redemption ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (restrictions. ) Tj ET Q
q 0 0 0 rg BT 101.04 426.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 103.30 426.75 Td (For ) Tj ET Q
q 0 0 0 rg BT 120.15 426.75 Td (investments ) Tj ET Q
q 0 0 0 rg BT 172.57 426.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 183.00 426.75 Td (illiquid ) Tj ET Q
q 0 0 0 rg BT 215.60 426.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 233.02 426.75 Td (privately-held ) Tj ET Q
q 0 0 0 rg BT 294.17 426.75 Td (securities ) Tj ET Q
q 0 0 0 rg BT 336.08 426.75 Td (\(private ) Tj ET Q
q 0 0 0 rg BT 370.99 426.75 Td (equity ) Tj ET Q
q 0 0 0 rg BT 399.50 426.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 416.92 426.75 Td (investment ) Tj ET Q
q 0 0 0 rg BT 465.26 426.75 Td (partnerships\) ) Tj ET Q
q 0 0 0 rg BT 522.34 426.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 536.84 426.75 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 82.09 414.15 Td (prices ) Tj ET Q
q 0 0 0 rg BT 110.61 414.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 122.80 414.15 Td (quotations ) Tj ET Q
q 0 0 0 rg BT 169.99 414.15 Td (may ) Tj ET Q
q 0 0 0 rg BT 191.51 414.15 Td (not ) Tj ET Q
q 0 0 0 rg BT 208.36 414.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 221.72 414.15 Td (readily ) Tj ET Q
q 0 0 0 rg BT 254.31 414.15 Td (available, ) Tj ET Q
q 0 0 0 rg BT 298.27 414.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 355.36 414.15 Td (must ) Tj ET Q
q 0 0 0 rg BT 379.22 414.15 Td (estimate ) Tj ET Q
q 0 0 0 rg BT 417.65 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 433.92 414.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 460.10 414.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 472.29 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 488.56 414.15 Td (securities ) Tj ET Q
q 0 0 0 rg BT 531.65 414.15 Td (using ) Tj ET Q
q 0 0 0 rg BT 557.85 414.15 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (variety ) Tj ET Q
q 0 0 0 rg BT 82.16 401.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 94.41 401.55 Td (methods ) Tj ET Q
q 0 0 0 rg BT 133.50 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 152.17 401.55 Td (resources, ) Tj ET Q
q 0 0 0 rg BT 197.95 401.55 Td (including ) Tj ET Q
q 0 0 0 rg BT 241.12 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 257.45 401.55 Td (most ) Tj ET Q
q 0 0 0 rg BT 281.38 401.55 Td (current ) Tj ET Q
q 0 0 0 rg BT 314.62 401.55 Td (available ) Tj ET Q
q 0 0 0 rg BT 356.02 401.55 Td (financial ) Tj ET Q
q 0 0 0 rg BT 396.26 401.55 Td (information ) Tj ET Q
q 0 0 0 rg BT 449.34 401.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 465.09 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 481.43 401.55 Td (investment ) Tj ET Q
q 0 0 0 rg BT 531.01 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 549.68 401.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (industry ) Tj ET Q
q 0 0 0 rg BT 85.40 388.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 95.05 388.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 122.20 388.95 Td (it ) Tj ET Q
q 0 0 0 rg BT 129.52 388.95 Td (applies ) Tj ET Q
q 0 0 0 rg BT 160.75 388.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 170.40 388.95 Td (order ) Tj ET Q
q 0 0 0 rg BT 194.04 388.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 203.69 388.95 Td (determine ) Tj ET Q
q 0 0 0 rg BT 247.15 388.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 263.21 388.95 Td (value. ) Tj ET Q
q 0 0 0 rg BT 290.06 388.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 291.43 388.95 Td (These ) Tj ET Q
q 0 0 0 rg BT 317.99 388.95 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 358.55 388.95 Td (processes ) Tj ET Q
q 0 0 0 rg BT 400.27 388.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 414.00 388.95 Td (illiquid ) Tj ET Q
q 0 0 0 rg BT 445.82 388.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 462.46 388.95 Td (privately-held ) Tj ET Q
q 0 0 0 rg BT 522.84 388.95 Td (securities ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (inherently ) Tj ET Q
q 0 0 0 rg BT 94.70 376.35 Td (require ) Tj ET Q
q 0 0 0 rg BT 127.05 376.35 Td (management's ) Tj ET Q
q 0 0 0 rg BT 189.30 376.35 Td (judgment ) Tj ET Q
q 0 0 0 rg BT 231.59 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 249.37 376.35 Td (are ) Tj ET Q
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q 0 0 0 rg BT 305.33 376.35 Td (classified ) Tj ET Q
q 0 0 0 rg BT 347.61 376.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 358.98 376.35 Td (Level�3.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (Futures ) Tj ET Q
q 0 0 0 rg BT 83.65 351.15 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 124.19 351.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 139.66 351.15 Td (valued ) Tj ET Q
q 0 0 0 rg BT 170.29 351.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 180.51 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 195.99 351.15 Td (last ) Tj ET Q
q 0 0 0 rg BT 213.21 351.15 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 259.02 351.15 Td (price ) Tj ET Q
q 0 0 0 rg BT 282.65 351.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 292.87 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 308.34 351.15 Td (end ) Tj ET Q
q 0 0 0 rg BT 326.15 351.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 337.54 351.15 Td (each ) Tj ET Q
q 0 0 0 rg BT 359.42 351.15 Td (day ) Tj ET Q
q 0 0 0 rg BT 377.23 351.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 390.37 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 405.84 351.15 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 448.13 351.15 Td (upon ) Tj ET Q
q 0 0 0 rg BT 471.78 351.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 500.08 351.15 Td (they ) Tj ET Q
q 0 0 0 rg BT 520.81 351.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 536.27 351.15 Td (traded ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (and ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 177.72 313.35 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 208.45 313.35 Td (relies ) Tj ET Q
q 0 0 0 rg BT 233.34 313.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 245.99 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 260.96 313.35 Td (NA) Tj ET Q
q 0 0 0 rg BT 274.77 313.35 Td (V) Tj ET Q
q 0 0 0 rg BT 282.17 313.35 Td ( ) Tj ET Q
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q 0 0 0 rg BT 378.23 313.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 389.12 313.35 Td (their ) Tj ET Q
q 0 0 0 rg BT 410.51 313.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 427.23 313.35 Td (value. ) Tj ET Q
q 0 0 0 rg BT 454.74 313.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 456.73 313.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 475.21 313.35 Td (NA) Tj ET Q
q 0 0 0 rg BT 489.02 313.35 Td (Vs ) Tj ET Q
q 0 0 0 rg BT 502.83 313.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 520.73 313.35 Td (have ) Tj ET Q
q 0 0 0 rg BT 542.70 313.35 Td (been ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (provided ) Tj ET Q
q 0 0 0 rg BT 89.50 300.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 102.68 300.75 Td (investees ) Tj ET Q
q 0 0 0 rg BT 143.84 300.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 159.34 300.75 Td (derived ) Tj ET Q
q 0 0 0 rg BT 193.50 300.75 Td (from ) Tj ET Q
q 0 0 0 rg BT 216.59 300.75 Td (the ) Tj ET Q
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q 0 0 0 rg BT 278.84 300.75 Td (of ) Tj ET Q
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q 0 0 0 rg BT 353.94 300.75 Td (investments ) Tj ET Q
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q 0 0 0 rg BT 418.20 300.75 Td (of ) Tj ET Q
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q 0 0 0 rg BT 95.57 729.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 98.20 729.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 113.07 729.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 157.68 729.15 Td (information ) Tj ET Q
q 0 0 0 rg BT 209.88 729.15 Td (regarding ) Tj ET Q
q 0 0 0 rg BT 252.74 729.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 269.93 729.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 295.30 729.15 Td (measurements.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 703.95 Td (Fixed ) Tj ET Q
q 0 0 0 rg BT 76.63 703.95 Td (Assets) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 691.35 Td (Fixed ) Tj ET Q
q 0 0 0 rg BT 77.69 691.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 106.46 691.35 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 149.81 691.35 Td (consist ) Tj ET Q
q 0 0 0 rg BT 183.25 691.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 196.27 691.35 Td (equipment, ) Tj ET Q
q 0 0 0 rg BT 247.49 691.35 Td (software ) Tj ET Q
q 0 0 0 rg BT 287.92 691.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 307.35 691.35 Td (leasehold ) Tj ET Q
q 0 0 0 rg BT 351.28 691.35 Td (improvements. ) Tj ET Q
q 0 0 0 rg BT 418.25 691.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 422.53 691.35 Td (Equipment ) Tj ET Q
q 0 0 0 rg BT 472.88 691.35 Td (consists ) Tj ET Q
q 0 0 0 rg BT 510.40 691.35 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 553.75 691.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.75 Td (communications ) Tj ET Q
q 0 0 0 rg BT 120.66 678.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 137.58 678.75 Td (technology ) Tj ET Q
q 0 0 0 rg BT 186.00 678.75 Td (hardware ) Tj ET Q
q 0 0 0 rg BT 226.82 678.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 243.74 678.75 Td (furniture ) Tj ET Q
q 0 0 0 rg BT 282.23 678.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 299.15 678.75 Td (fixtures. ) Tj ET Q
q 0 0 0 rg BT 335.61 678.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 337.37 678.75 Td (Capitalized ) Tj ET Q
q 0 0 0 rg BT 386.94 678.75 Td (software ) Tj ET Q
q 0 0 0 rg BT 424.85 678.75 Td (includes ) Tj ET Q
q 0 0 0 rg BT 461.60 678.75 Td (both ) Tj ET Q
q 0 0 0 rg BT 482.03 678.75 Td (purchased ) Tj ET Q
q 0 0 0 rg BT 526.35 678.75 Td (software ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.21 666.15 Td (internally ) Tj ET Q
q 0 0 0 rg BT 110.00 666.15 Td (developed ) Tj ET Q
q 0 0 0 rg BT 155.71 666.15 Td (software. ) Tj ET Q
q 0 0 0 rg BT 197.04 666.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 199.41 666.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 218.28 666.15 Td (cost ) Tj ET Q
q 0 0 0 rg BT 237.75 666.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 249.05 666.15 Td (software ) Tj ET Q
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q 0 0 0 rg BT 309.56 666.15 Td (under ) Tj ET Q
q 0 0 0 rg BT 336.02 666.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 343.23 666.15 Td (service ) Tj ET Q
q 0 0 0 rg BT 375.52 666.15 Td (contract ) Tj ET Q
q 0 0 0 rg BT 411.88 666.15 Td (where ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 653.55 Td (control ) Tj ET Q
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q 0 0 0 rg BT 299.96 653.55 Td (Fixed ) Tj ET Q
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q 0 0 0 rg BT 510.61 653.55 Td (depreciation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 640.95 Td (and ) Tj ET Q
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q 0 0 0 rg BT 367.09 640.95 Td (straight-line ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.35 Td (over ) Tj ET Q
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q 0 0 0 rg BT 194.14 628.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 210.08 628.35 Td (assets, ) Tj ET Q
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q 0 0 0 rg BT 341.20 628.35 Td (three ) Tj ET Q
q 0 0 0 rg BT 365.30 628.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 376.58 628.35 Td (eight ) Tj ET Q
q 0 0 0 rg BT 400.68 628.35 Td (years. ) Tj ET Q
q 0 0 0 rg BT 428.58 628.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 431.69 628.35 Td (Software ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.75 Td (estimated ) Tj ET Q
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q 0 0 0 rg BT 245.27 615.75 Td (three ) Tj ET Q
q 0 0 0 rg BT 269.44 615.75 Td (to ) Tj ET Q
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q 0 0 0 rg BT 328.26 615.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 331.44 615.75 Td (Leasehold ) Tj ET Q
q 0 0 0 rg BT 377.77 615.75 Td (improvements ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (over ) Tj ET Q
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q 0 0 0 rg BT 523.45 603.15 Td (expensed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (as ) Tj ET Q
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q 0 0 0 rg BT 192.57 590.55 Td (software ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (an ) Tj ET Q
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q 0 0 0 rg BT 303.36 577.95 Td (to ) Tj ET Q
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q 0 0 0 rg BT 532.78 577.95 Td (written ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (of) Tj ET Q
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q 0 0 0 rg BT 247.01 565.35 Td (any ) Tj ET Q
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BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (Intangible ) Tj ET Q
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q 0 0 0 rg BT 147.82 540.15 Td (Goodwill) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (Legg ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (their ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 419.63 464.55 Td (indefinite ) Tj ET Q
q 0 0 0 rg BT 462.05 464.55 Td (lives ) Tj ET Q
q 0 0 0 rg BT 484.07 464.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 494.42 464.55 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 543.26 464.55 Td (fund ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 89.82 451.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 99.24 451.95 Td (based ) Tj ET Q
q 0 0 0 rg BT 125.56 451.95 Td (upon ) Tj ET Q
q 0 0 0 rg BT 148.98 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 164.22 451.95 Td (assumption ) Tj ET Q
q 0 0 0 rg BT 214.47 451.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 232.63 451.95 Td (there ) Tj ET Q
q 0 0 0 rg BT 256.03 451.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 265.45 451.95 Td (no ) Tj ET Q
q 0 0 0 rg BT 278.37 451.95 Td (foreseeable ) Tj ET Q
q 0 0 0 rg BT 328.59 451.95 Td (limit ) Tj ET Q
q 0 0 0 rg BT 350.84 451.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 363.76 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 379.00 451.95 Td (contract ) Tj ET Q
q 0 0 0 rg BT 415.23 451.95 Td (period ) Tj ET Q
q 0 0 0 rg BT 444.47 451.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 455.05 451.95 Td (manage ) Tj ET Q
q 0 0 0 rg BT 490.12 451.95 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 539.18 451.95 Td (funds ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (due ) Tj ET Q
q 0 0 0 rg BT 67.08 439.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 77.67 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 92.92 439.35 Td (likelihood ) Tj ET Q
q 0 0 0 rg BT 137.92 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 149.09 439.35 Td (continued ) Tj ET Q
q 0 0 0 rg BT 192.92 439.35 Td (renewal ) Tj ET Q
q 0 0 0 rg BT 228.57 439.35 Td (at ) Tj ET Q
q 0 0 0 rg BT 238.57 439.35 Td (little ) Tj ET Q
q 0 0 0 rg BT 260.24 439.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 271.41 439.35 Td (no ) Tj ET Q
q 0 0 0 rg BT 284.33 439.35 Td (cost. ) Tj ET Q
q 0 0 0 rg BT 306.29 439.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 308.53 439.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 327.28 439.35 Td (assignment ) Tj ET Q
q 0 0 0 rg BT 376.95 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 388.12 439.35 Td (indefinite ) Tj ET Q
q 0 0 0 rg BT 430.78 439.35 Td (lives ) Tj ET Q
q 0 0 0 rg BT 453.03 439.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 463.62 439.35 Td (trade ) Tj ET Q
q 0 0 0 rg BT 487.02 439.35 Td (names ) Tj ET Q
q 0 0 0 rg BT 516.27 439.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 525.70 439.35 Td (based ) Tj ET Q
q 0 0 0 rg BT 552.03 439.35 Td (on ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.95 426.75 Td (assumption ) Tj ET Q
q 0 0 0 rg BT 115.41 426.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 133.78 426.75 Td (they ) Tj ET Q
q 0 0 0 rg BT 154.49 426.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 169.93 426.75 Td (expected ) Tj ET Q
q 0 0 0 rg BT 209.87 426.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 220.66 426.75 Td (generate ) Tj ET Q
q 0 0 0 rg BT 258.84 426.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 280.12 426.75 Td (flows ) Tj ET Q
q 0 0 0 rg BT 306.08 426.75 Td (indefinitely) Tj ET Q
q 0 0 0 rg BT 353.80 426.75 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (Goodwill ) Tj ET Q
q 0 0 0 rg BT 90.94 401.55 Td (represents ) Tj ET Q
q 0 0 0 rg BT 135.28 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 149.88 401.55 Td (residual ) Tj ET Q
q 0 0 0 rg BT 184.89 401.55 Td (amount ) Tj ET Q
q 0 0 0 rg BT 218.15 401.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 228.67 401.55 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 276.52 401.55 Td (cost ) Tj ET Q
q 0 0 0 rg BT 295.21 401.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 305.15 401.55 Td (excess ) Tj ET Q
q 0 0 0 rg BT 334.32 401.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 344.84 401.55 Td (identified ) Tj ET Q
q 0 0 0 rg BT 386.85 401.55 Td (tangible ) Tj ET Q
q 0 0 0 rg BT 422.45 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 439.38 401.55 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 483.14 401.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 509.41 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 526.34 401.55 Td (assumed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (liabilities. ) Tj ET Q
q 0 0 0 rg BT 94.84 388.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 98.47 388.95 Td (Indefinite-life ) Tj ET Q
q 0 0 0 rg BT 160.41 388.95 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 206.04 388.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 234.17 388.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 252.96 388.95 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 293.93 388.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 310.38 388.95 Td (not ) Tj ET Q
q 0 0 0 rg BT 327.44 388.95 Td (amortized ) Tj ET Q
q 0 0 0 rg BT 373.05 388.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 388.93 388.95 Td (financial ) Tj ET Q
q 0 0 0 rg BT 429.29 388.95 Td (statement ) Tj ET Q
q 0 0 0 rg BT 473.16 388.95 Td (purposes. ) Tj ET Q
q 0 0 0 rg BT 516.75 388.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 520.39 388.95 Td (Given ) Tj ET Q
q 0 0 0 rg BT 549.68 388.95 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (relative ) Tj ET Q
q 0 0 0 rg BT 84.01 376.35 Td (significance ) Tj ET Q
q 0 0 0 rg BT 137.77 376.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 149.55 376.35 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 194.57 376.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 222.10 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 240.29 376.35 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 280.65 376.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 291.85 376.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 307.71 376.35 Td (Company's ) Tj ET Q
q 0 0 0 rg BT 357.55 376.35 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 413.65 376.35 Td (financial ) Tj ET Q
q 0 0 0 rg BT 453.41 376.35 Td (statements, ) Tj ET Q
q 0 0 0 rg BT 503.39 376.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 516.92 376.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 524.61 376.35 Td (quarterly ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (basis ) Tj ET Q
q 0 0 0 rg BT 73.44 363.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 97.96 363.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 129.48 363.75 Td (considers ) Tj ET Q
q 0 0 0 rg BT 172.08 363.75 Td (if ) Tj ET Q
q 0 0 0 rg BT 181.43 363.75 Td (triggering ) Tj ET Q
q 0 0 0 rg BT 225.78 363.75 Td (events ) Tj ET Q
q 0 0 0 rg BT 255.55 363.75 Td (have ) Tj ET Q
q 0 0 0 rg BT 278.31 363.75 Td (occurred ) Tj ET Q
q 0 0 0 rg BT 317.97 363.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 336.66 363.75 Td (may ) Tj ET Q
q 0 0 0 rg BT 357.68 363.75 Td (indicate ) Tj ET Q
q 0 0 0 rg BT 393.85 363.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 412.54 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 428.31 363.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 445.82 363.75 Td (values ) Tj ET Q
q 0 0 0 rg BT 475.58 363.75 Td (have ) Tj ET Q
q 0 0 0 rg BT 498.35 363.75 Td (declined ) Tj ET Q
q 0 0 0 rg BT 536.85 363.75 Td (below ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (their ) Tj ET Q
q 0 0 0 rg BT 71.69 351.15 Td (respective ) Tj ET Q
q 0 0 0 rg BT 117.21 351.15 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 155.14 351.15 Td (amounts. ) Tj ET Q
q 0 0 0 rg BT 196.30 351.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 199.04 351.15 Td (T) Tj ET Q
q 0 0 0 rg BT 205.08 351.15 Td (riggering ) Tj ET Q
q 0 0 0 rg BT 246.52 351.15 Td (events ) Tj ET Q
q 0 0 0 rg BT 276.30 351.15 Td (may ) Tj ET Q
q 0 0 0 rg BT 297.33 351.15 Td (include ) Tj ET Q
q 0 0 0 rg BT 331.19 351.15 Td (significant ) Tj ET Q
q 0 0 0 rg BT 378.46 351.15 Td (adverse ) Tj ET Q
q 0 0 0 rg BT 413.48 351.15 Td (changes ) Tj ET Q
q 0 0 0 rg BT 450.25 351.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 461.37 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 477.15 351.15 Td (Company's ) Tj ET Q
q 0 0 0 rg BT 526.91 351.15 Td (business ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 61.22 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 77.02 338.55 Td (legal ) Tj ET Q
q 0 0 0 rg BT 100.40 338.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 112.12 338.55 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 158.25 338.55 Td (environment, ) Tj ET Q
q 0 0 0 rg BT 216.91 338.55 Td (loss ) Tj ET Q
q 0 0 0 rg BT 236.23 338.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 247.95 338.55 Td (key ) Tj ET Q
q 0 0 0 rg BT 266.08 338.55 Td (personnel, ) Tj ET Q
q 0 0 0 rg BT 312.50 338.55 Td (significant ) Tj ET Q
q 0 0 0 rg BT 359.80 338.55 Td (business ) Tj ET Q
q 0 0 0 rg BT 398.36 338.55 Td (dispositions, ) Tj ET Q
q 0 0 0 rg BT 454.14 338.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 465.86 338.55 Td (other ) Tj ET Q
q 0 0 0 rg BT 490.41 338.55 Td (events, ) Tj ET Q
q 0 0 0 rg BT 522.83 338.55 Td (including ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (changes ) Tj ET Q
q 0 0 0 rg BT 86.61 325.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 98.07 325.95 Td (economic ) Tj ET Q
q 0 0 0 rg BT 142.17 325.95 Td (arrangements ) Tj ET Q
q 0 0 0 rg BT 202.02 325.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 223.98 325.95 Td (our ) Tj ET Q
q 0 0 0 rg BT 241.26 325.95 Td (af) Tj ET Q
q 0 0 0 rg BT 249.23 325.95 Td (filiates ) Tj ET Q
q 0 0 0 rg BT 281.10 325.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 300.13 325.95 Td (will ) Tj ET Q
q 0 0 0 rg BT 319.76 325.95 Td (impact ) Tj ET Q
q 0 0 0 rg BT 351.62 325.95 Td (future ) Tj ET Q
q 0 0 0 rg BT 379.98 325.95 Td (operating ) Tj ET Q
q 0 0 0 rg BT 422.93 325.95 Td (results. ) Tj ET Q
q 0 0 0 rg BT 456.26 325.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 459.55 325.95 Td (If ) Tj ET Q
q 0 0 0 rg BT 469.83 325.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 477.78 325.95 Td (triggering ) Tj ET Q
q 0 0 0 rg BT 522.48 325.95 Td (event ) Tj ET Q
q 0 0 0 rg BT 548.50 325.95 Td (has ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (occurred, ) Tj ET Q
q 0 0 0 rg BT 93.74 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 111.45 313.35 Td (Company ) Tj ET Q
q 0 0 0 rg BT 157.17 313.35 Td (will ) Tj ET Q
q 0 0 0 rg BT 178.39 313.35 Td (perform ) Tj ET Q
q 0 0 0 rg BT 217.10 313.35 Td (quantitative ) Tj ET Q
q 0 0 0 rg BT 271.56 313.35 Td (tests, ) Tj ET Q
q 0 0 0 rg BT 297.74 313.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 328.28 313.35 Td (include ) Tj ET Q
q 0 0 0 rg BT 364.08 313.35 Td (critical ) Tj ET Q
q 0 0 0 rg BT 398.11 313.35 Td (reviews ) Tj ET Q
q 0 0 0 rg BT 435.66 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 449.29 313.35 Td (all ) Tj ET Q
q 0 0 0 rg BT 464.67 313.35 Td (significant ) Tj ET Q
q 0 0 0 rg BT 513.88 313.35 Td (factors ) Tj ET Q
q 0 0 0 rg BT 547.34 313.35 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (assumptions, ) Tj ET Q
q 0 0 0 rg BT 106.05 300.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 116.21 300.75 Td (determine ) Tj ET Q
q 0 0 0 rg BT 160.19 300.75 Td (if ) Tj ET Q
q 0 0 0 rg BT 168.60 300.75 Td (any ) Tj ET Q
q 0 0 0 rg BT 185.76 300.75 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 229.75 300.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 256.25 300.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 266.99 300.75 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 306.32 300.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 321.14 300.75 Td (impaired. ) Tj ET Q
q 0 0 0 rg BT 363.08 300.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 365.08 300.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 388.65 300.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 419.24 300.75 Td (considers ) Tj ET Q
q 0 0 0 rg BT 460.89 300.75 Td (factors ) Tj ET Q
q 0 0 0 rg BT 491.46 300.75 Td (such ) Tj ET Q
q 0 0 0 rg BT 512.70 300.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 523.45 300.75 Td (projected ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 70.01 288.15 Td (flows ) Tj ET Q
q 0 0 0 rg BT 95.20 288.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 112.21 288.15 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 147.29 288.15 Td (multiples, ) Tj ET Q
q 0 0 0 rg BT 190.85 288.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 200.87 288.15 Td (determine ) Tj ET Q
q 0 0 0 rg BT 244.70 288.15 Td (whether ) Tj ET Q
q 0 0 0 rg BT 280.37 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 295.05 288.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 319.64 288.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 330.24 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 344.92 288.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 371.27 288.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 380.13 288.15 Td (impaired ) Tj ET Q
q 0 0 0 rg BT 419.30 288.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 436.31 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 450.99 288.15 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 510.57 288.15 Td (assumptions ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 64.71 275.55 Td (appropriate. ) Tj ET Q
q 0 0 0 rg BT 117.54 275.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 119.94 275.55 Td (If ) Tj ET Q
q 0 0 0 rg BT 129.33 275.55 Td (an ) Tj ET Q
q 0 0 0 rg BT 141.63 275.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 164.44 275.55 Td (is ) Tj ET Q
q 0 0 0 rg BT 173.84 275.55 Td (impaired, ) Tj ET Q
q 0 0 0 rg BT 216.18 275.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 231.41 275.55 Td (dif) Tj ET Q
q 0 0 0 rg BT 242.88 275.55 Td (ference ) Tj ET Q
q 0 0 0 rg BT 276.16 275.55 Td (between ) Tj ET Q
q 0 0 0 rg BT 313.54 275.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 328.76 275.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 353.90 275.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 365.04 275.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 380.26 275.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 403.07 275.55 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 442.19 275.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 455.08 275.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 470.31 275.55 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 525.77 275.55 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 262.95 Td (statements ) Tj ET Q
q 0 0 0 rg BT 96.54 262.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 114.41 262.95 Td (its ) Tj ET Q
q 0 0 0 rg BT 127.04 262.95 Td (current ) Tj ET Q
q 0 0 0 rg BT 159.48 262.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 176.76 262.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 202.21 262.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 211.93 262.95 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 260.70 262.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 272.15 262.95 Td (an ) Tj ET Q
q 0 0 0 rg BT 284.78 262.95 Td (expense ) Tj ET Q
q 0 0 0 rg BT 321.31 262.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 332.18 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 347.72 262.95 Td (period ) Tj ET Q
q 0 0 0 rg BT 377.26 262.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 388.14 262.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 416.51 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 432.05 262.95 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 483.16 262.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 492.88 262.95 Td (determined. ) Tj ET Q
q 0 0 0 rg BT 545.45 262.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 548.16 262.95 Td (If ) Tj ET Q
q 0 0 0 rg BT 557.86 262.95 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 250.35 Td (triggering ) Tj ET Q
q 0 0 0 rg BT 94.40 250.35 Td (event ) Tj ET Q
q 0 0 0 rg BT 120.62 250.35 Td (has ) Tj ET Q
q 0 0 0 rg BT 138.11 250.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 155.01 250.35 Td (occurred, ) Tj ET Q
q 0 0 0 rg BT 197.85 250.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 214.17 250.35 Td (Company ) Tj ET Q
q 0 0 0 rg BT 258.49 250.35 Td (performs ) Tj ET Q
q 0 0 0 rg BT 299.88 250.35 Td (quantitative ) Tj ET Q
q 0 0 0 rg BT 352.94 250.35 Td (tests ) Tj ET Q
q 0 0 0 rg BT 375.10 250.35 Td (annually ) Tj ET Q
q 0 0 0 rg BT 414.74 250.35 Td (at ) Tj ET Q
q 0 0 0 rg BT 425.81 250.35 Td (December ) Tj ET Q
q 0 0 0 rg BT 472.44 250.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 489.05 250.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 504.79 250.35 Td (indefinite-life ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 237.75 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 93.06 237.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 119.13 237.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 135.86 237.75 Td (goodwill, ) Tj ET Q
q 0 0 0 rg BT 177.39 237.75 Td (unless ) Tj ET Q
q 0 0 0 rg BT 205.21 237.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 219.61 237.75 Td (Company ) Tj ET Q
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q 0 0 0 rg BT 332.21 237.75 Td (conclude ) Tj ET Q
q 0 0 0 rg BT 371.68 237.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 389.00 237.75 Td (it ) Tj ET Q
q 0 0 0 rg BT 396.40 237.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 404.98 237.75 Td (more ) Tj ET Q
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q 0 0 0 rg BT 488.24 237.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 505.56 237.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 519.96 237.75 Td (respective ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 225.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 66.30 225.15 Td (values ) Tj ET Q
q 0 0 0 rg BT 95.35 225.15 Td (exceed ) Tj ET Q
q 0 0 0 rg BT 126.72 225.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 141.78 225.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 172.57 225.15 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 209.78 225.15 Td (values. ) Tj ET Q
q 0 0 0 rg BT 241.46 225.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 243.52 225.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 262.07 225.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 278.87 225.15 Td (values ) Tj ET Q
q 0 0 0 rg BT 307.93 225.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 318.90 225.15 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 363.12 225.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 389.84 225.15 Td (subject ) Tj ET Q
q 0 0 0 rg BT 421.81 225.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 432.21 225.15 Td (amortization ) Tj ET Q
q 0 0 0 rg BT 487.50 225.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 502.55 225.15 Td (considered ) Tj ET Q
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q 0 0 0 rg BT 257.69 653.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 268.48 653.55 Td (Interest ) Tj ET Q
q 0 0 0 rg BT 302.60 653.55 Td (expense ) Tj ET Q
q 0 0 0 rg BT 339.04 653.55 Td (over ) Tj ET Q
q 0 0 0 rg BT 360.32 653.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 375.77 653.55 Td (legal ) Tj ET Q
q 0 0 0 rg BT 398.81 653.55 Td (term ) Tj ET Q
q 0 0 0 rg BT 420.67 653.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 432.04 653.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 447.50 653.55 Td (associated ) Tj ET Q
q 0 0 0 rg BT 493.27 653.55 Td (debt.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.35 Td (Contingent ) Tj ET Q
q 0 0 0 rg BT 102.30 628.35 Td (Consideration ) Tj ET Q
q 0 0 0 rg BT 168.52 628.35 Td (Liabilities) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.75 Td (In ) Tj ET Q
q 0 0 0 rg BT 60.82 615.75 Td (connection ) Tj ET Q
q 0 0 0 rg BT 109.47 615.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 130.71 615.75 Td (business ) Tj ET Q
q 0 0 0 rg BT 168.88 615.75 Td (acquisitions, ) Tj ET Q
q 0 0 0 rg BT 224.25 615.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 248.40 615.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 279.56 615.75 Td (may ) Tj ET Q
q 0 0 0 rg BT 300.22 615.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 312.70 615.75 Td (required ) Tj ET Q
q 0 0 0 rg BT 350.26 615.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 361.01 615.75 Td (pay ) Tj ET Q
q 0 0 0 rg BT 378.75 615.75 Td (additional ) Tj ET Q
q 0 0 0 rg BT 423.32 615.75 Td (future ) Tj ET Q
q 0 0 0 rg BT 450.96 615.75 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 510.11 615.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 536.59 615.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 549.67 615.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (achievement ) Tj ET Q
q 0 0 0 rg BT 104.28 603.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 114.75 603.15 Td (certain ) Tj ET Q
q 0 0 0 rg BT 145.04 603.15 Td (designated ) Tj ET Q
q 0 0 0 rg BT 191.67 603.15 Td (financial ) Tj ET Q
q 0 0 0 rg BT 230.12 603.15 Td (metrics. ) Tj ET Q
q 0 0 0 rg BT 265.38 603.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 267.10 603.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 290.40 603.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 320.71 603.15 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 361.51 603.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 376.06 603.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 392.35 603.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 416.82 603.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 427.29 603.15 Td (these ) Tj ET Q
q 0 0 0 rg BT 450.59 603.15 Td (potential ) Tj ET Q
q 0 0 0 rg BT 489.05 603.15 Td (future ) Tj ET Q
q 0 0 0 rg BT 515.85 603.15 Td (obligations ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 60.38 590.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 76.51 590.55 Td (time ) Tj ET Q
q 0 0 0 rg BT 98.48 590.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 106.44 590.55 Td (business ) Tj ET Q
q 0 0 0 rg BT 145.33 590.55 Td (combination ) Tj ET Q
q 0 0 0 rg BT 201.13 590.55 Td (is ) Tj ET Q
q 0 0 0 rg BT 211.44 590.55 Td (consummated ) Tj ET Q
q 0 0 0 rg BT 273.06 590.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 291.52 590.55 Td (records ) Tj ET Q
q 0 0 0 rg BT 325.73 590.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 333.69 590.55 Td (Contingent ) Tj ET Q
q 0 0 0 rg BT 383.66 590.55 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 443.53 590.55 Td (liability ) Tj ET Q
q 0 0 0 rg BT 479.50 590.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 490.97 590.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 507.10 590.55 Td (Consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 85.94 577.95 Td (Sheet.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 73.79 552.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 105.08 552.75 Td (accretes ) Tj ET Q
q 0 0 0 rg BT 141.59 552.75 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 188.63 552.75 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 247.91 552.75 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 289.70 552.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 300.58 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 316.12 552.75 Td (expected ) Tj ET Q
q 0 0 0 rg BT 356.14 552.75 Td (payment ) Tj ET Q
q 0 0 0 rg BT 395.00 552.75 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 433.30 552.75 Td (over ) Tj ET Q
q 0 0 0 rg BT 454.67 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 470.20 552.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 501.48 552.75 Td (earn-out ) Tj ET Q
q 0 0 0 rg BT 539.17 552.75 Td (terms ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (until ) Tj ET Q
q 0 0 0 rg BT 71.46 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 87.00 540.15 Td (obligations ) Tj ET Q
q 0 0 0 rg BT 136.38 540.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 151.90 540.15 Td (ultimately ) Tj ET Q
q 0 0 0 rg BT 197.19 540.15 Td (paid, ) Tj ET Q
q 0 0 0 rg BT 220.60 540.15 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 260.06 540.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 270.93 540.15 Td (Interest ) Tj ET Q
q 0 0 0 rg BT 305.13 540.15 Td (expense ) Tj ET Q
q 0 0 0 rg BT 341.66 540.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 352.53 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 368.07 540.15 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 426.19 540.15 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 474.98 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 486.44 540.15 Td (Income ) Tj ET Q
q 0 0 0 rg BT 520.63 540.15 Td (\(Loss\). ) Tj ET Q
q 0 0 0 rg BT 552.80 540.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 555.51 540.15 Td (If ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.30 527.55 Td (expected ) Tj ET Q
q 0 0 0 rg BT 105.57 527.55 Td (payment ) Tj ET Q
q 0 0 0 rg BT 144.70 527.55 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 183.25 527.55 Td (subsequently ) Tj ET Q
q 0 0 0 rg BT 241.04 527.55 Td (change, ) Tj ET Q
q 0 0 0 rg BT 276.37 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 292.16 527.55 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 339.45 527.55 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 398.99 527.55 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 441.03 527.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 456.82 527.55 Td (\(reduced\) ) Tj ET Q
q 0 0 0 rg BT 500.01 527.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 511.72 527.55 Td (increased ) Tj ET Q
q 0 0 0 rg BT 554.33 527.55 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.75 514.95 Td (current ) Tj ET Q
q 0 0 0 rg BT 96.90 514.95 Td (period, ) Tj ET Q
q 0 0 0 rg BT 128.77 514.95 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 167.93 514.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 178.52 514.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 185.59 514.95 Td (\(gain\) ) Tj ET Q
q 0 0 0 rg BT 213.08 514.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 224.25 514.95 Td (loss, ) Tj ET Q
q 0 0 0 rg BT 245.63 514.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 273.71 514.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 283.14 514.95 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 322.27 514.95 Td (within ) Tj ET Q
q 0 0 0 rg BT 351.53 514.95 Td (Contingent ) Tj ET Q
q 0 0 0 rg BT 400.61 514.95 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 459.60 514.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 476.59 514.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 501.75 514.95 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 554.33 514.95 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.31 502.35 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 123.70 502.35 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 172.76 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 184.49 502.35 Td (Income ) Tj ET Q
q 0 0 0 rg BT 218.96 502.35 Td (\(Loss\). ) Tj ET Q
q 0 0 0 rg BT 251.40 502.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 254.38 502.35 Td (Payments ) Tj ET Q
q 0 0 0 rg BT 298.19 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 309.92 502.35 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 348.48 502.35 Td (equal ) Tj ET Q
q 0 0 0 rg BT 374.20 502.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 385.35 502.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 397.08 502.35 Td (less ) Tj ET Q
q 0 0 0 rg BT 415.81 502.35 Td (than ) Tj ET Q
q 0 0 0 rg BT 436.87 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 452.68 502.35 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 501.74 502.35 Td (date ) Tj ET Q
q 0 0 0 rg BT 522.21 502.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 539.76 502.35 Td (value ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 65.41 489.75 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 105.23 489.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 117.08 489.75 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 141.17 489.75 Td (Flows ) Tj ET Q
q 0 0 0 rg BT 169.95 489.75 Td (from ) Tj ET Q
q 0 0 0 rg BT 193.45 489.75 Td (Financing ) Tj ET Q
q 0 0 0 rg BT 237.86 489.75 Td (Activities ) Tj ET Q
q 0 0 0 rg BT 281.79 489.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 293.05 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 308.98 489.75 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 367.49 489.75 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 416.66 489.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 428.51 489.75 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 452.60 489.75 Td (Flows, ) Tj ET Q
q 0 0 0 rg BT 484.00 489.75 Td (while ) Tj ET Q
q 0 0 0 rg BT 510.43 489.75 Td (payments ) Tj ET Q
q 0 0 0 rg BT 553.77 489.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 86.94 477.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 96.96 477.15 Td (excess ) Tj ET Q
q 0 0 0 rg BT 126.21 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 136.81 477.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 151.50 477.15 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 199.43 477.15 Td (date ) Tj ET Q
q 0 0 0 rg BT 218.77 477.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 235.19 477.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 259.79 477.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 274.46 477.15 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 313.03 477.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 323.63 477.15 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 346.49 477.15 Td (Flows ) Tj ET Q
q 0 0 0 rg BT 374.02 477.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 396.28 477.15 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 439.71 477.15 Td (Activities ) Tj ET Q
q 0 0 0 rg BT 482.39 477.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 492.41 477.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 507.10 477.15 Td (Consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 98.20 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 109.57 464.55 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 133.20 464.55 Td (Flows. ) Tj ET Q
q 0 0 0 rg BT 164.13 464.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 166.75 464.55 Td (See ) Tj ET Q
q 0 0 0 rg BT 184.54 464.55 Td (Notes ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 211.66 464.55 Td (2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 216.91 464.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 219.54 464.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 237.32 464.55 Td (8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 242.57 464.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 245.20 464.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 260.06 464.55 Td (additional ) Tj ET Q
q 0 0 0 rg BT 304.68 464.55 Td (information ) Tj ET Q
q 0 0 0 rg BT 356.88 464.55 Td (regarding ) Tj ET Q
q 0 0 0 rg BT 399.74 464.55 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 446.69 464.55 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 505.88 464.55 Td (liabilities.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (T) Tj ET Q
q 0 0 0 rg BT 55.72 439.35 Td (ranslation ) Tj ET Q
q 0 0 0 rg BT 103.86 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 115.23 439.35 Td (For) Tj ET Q
q 0 0 0 rg BT 131.36 439.35 Td (eign ) Tj ET Q
q 0 0 0 rg BT 152.66 439.35 Td (Curr) Tj ET Q
q 0 0 0 rg BT 175.21 439.35 Td (encies) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (Assets ) Tj ET Q
q 0 0 0 rg BT 79.57 426.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 97.38 426.75 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 139.11 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 150.51 426.75 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 183.48 426.75 Td (subsidiaries ) Tj ET Q
q 0 0 0 rg BT 235.71 426.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 254.10 426.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 269.57 426.75 Td (denominated ) Tj ET Q
q 0 0 0 rg BT 326.45 426.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 337.27 426.75 Td (non-U.S. ) Tj ET Q
q 0 0 0 rg BT 377.84 426.75 Td (dollar ) Tj ET Q
q 0 0 0 rg BT 404.98 426.75 Td (functional ) Tj ET Q
q 0 0 0 rg BT 450.20 426.75 Td (currencies ) Tj ET Q
q 0 0 0 rg BT 495.99 426.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 511.45 426.75 Td (translated ) Tj ET Q
q 0 0 0 rg BT 554.92 426.75 Td (at ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 91.32 414.15 Td (rates ) Tj ET Q
q 0 0 0 rg BT 113.33 414.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 124.26 414.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 135.18 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 150.19 414.15 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 207.79 414.15 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 243.78 414.15 Td (Sheet ) Tj ET Q
q 0 0 0 rg BT 269.29 414.15 Td (dates. ) Tj ET Q
q 0 0 0 rg BT 295.68 414.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 297.86 414.15 Td (Revenues ) Tj ET Q
q 0 0 0 rg BT 340.86 414.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 358.20 414.15 Td (expenses ) Tj ET Q
q 0 0 0 rg BT 398.29 414.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 413.29 414.15 Td (translated ) Tj ET Q
q 0 0 0 rg BT 456.29 414.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 466.05 414.15 Td (average ) Tj ET Q
q 0 0 0 rg BT 500.87 414.15 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 542.69 414.15 Td (rates ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (during ) Tj ET Q
q 0 0 0 rg BT 79.42 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 94.76 401.55 Td (period. ) Tj ET Q
q 0 0 0 rg BT 126.72 401.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 129.05 401.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 147.88 401.55 Td (gains ) Tj ET Q
q 0 0 0 rg BT 172.56 401.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 183.81 401.55 Td (losses ) Tj ET Q
q 0 0 0 rg BT 211.41 401.55 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 250.67 401.55 Td (from ) Tj ET Q
q 0 0 0 rg BT 273.59 401.55 Td (translating ) Tj ET Q
q 0 0 0 rg BT 320.42 401.55 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 353.25 401.55 Td (currency ) Tj ET Q
q 0 0 0 rg BT 392.49 401.55 Td (financial ) Tj ET Q
q 0 0 0 rg BT 431.73 401.55 Td (statements ) Tj ET Q
q 0 0 0 rg BT 478.56 401.55 Td (into ) Tj ET Q
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q 0 0 0 rg BT 518.59 401.55 Td (dollars ) Tj ET Q
q 0 0 0 rg BT 549.68 401.55 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (included ) Tj ET Q
q 0 0 0 rg BT 90.28 388.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 103.07 388.95 Td (stockholders' ) Tj ET Q
q 0 0 0 rg BT 162.66 388.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 193.53 388.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 213.31 388.95 Td (comprehensive ) Tj ET Q
q 0 0 0 rg BT 281.50 388.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 317.03 388.95 Td (\(loss\). ) Tj ET Q
q 0 0 0 rg BT 347.61 388.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 352.23 388.95 Td (Gains ) Tj ET Q
q 0 0 0 rg BT 381.35 388.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 394.72 388.95 Td (losses ) Tj ET Q
q 0 0 0 rg BT 424.43 388.95 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 465.80 388.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 490.83 388.95 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 525.78 388.95 Td (currency ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (transactions ) Tj ET Q
q 0 0 0 rg BT 102.28 376.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 117.72 376.35 Td (included ) Tj ET Q
q 0 0 0 rg BT 156.50 376.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 167.30 376.35 Td (Net ) Tj ET Q
q 0 0 0 rg BT 185.08 376.35 Td (Income ) Tj ET Q
q 0 0 0 rg BT 219.19 376.35 Td (\(Loss\).) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (Investment ) Tj ET Q
q 0 0 0 rg BT 101.71 351.15 Td (Advisory ) Tj ET Q
q 0 0 0 rg BT 145.17 351.15 Td (Fees) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 73.18 338.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 103.86 338.55 Td (earns ) Tj ET Q
q 0 0 0 rg BT 128.12 338.55 Td (investment ) Tj ET Q
q 0 0 0 rg BT 176.30 338.55 Td (advisory ) Tj ET Q
q 0 0 0 rg BT 214.56 338.55 Td (fees ) Tj ET Q
q 0 0 0 rg BT 233.57 338.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 246.17 338.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 272.77 338.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 283.04 338.55 Td (separately ) Tj ET Q
q 0 0 0 rg BT 327.70 338.55 Td (managed ) Tj ET Q
q 0 0 0 rg BT 367.70 338.55 Td (accounts, ) Tj ET Q
q 0 0 0 rg BT 409.17 338.55 Td (investment ) Tj ET Q
q 0 0 0 rg BT 457.35 338.55 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 485.41 338.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 502.67 338.55 Td (other ) Tj ET Q
q 0 0 0 rg BT 526.35 338.55 Td (products ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (managed ) Tj ET Q
q 0 0 0 rg BT 89.68 325.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 104.21 325.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 128.06 325.95 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 164.91 325.95 Td (clients. ) Tj ET Q
q 0 0 0 rg BT 197.22 325.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 199.34 325.95 Td (These ) Tj ET Q
q 0 0 0 rg BT 226.69 325.95 Td (fees ) Tj ET Q
q 0 0 0 rg BT 245.88 325.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 260.98 325.95 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 302.33 325.95 Td (based ) Tj ET Q
q 0 0 0 rg BT 328.52 325.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 341.31 325.95 Td (predetermined ) Tj ET Q
q 0 0 0 rg BT 404.23 325.95 Td (percentages ) Tj ET Q
q 0 0 0 rg BT 456.06 325.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 467.09 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 482.20 325.95 Td (market ) Tj ET Q
q 0 0 0 rg BT 513.63 325.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 538.65 325.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 549.68 325.95 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 76.48 313.35 Td (under ) Tj ET Q
q 0 0 0 rg BT 102.87 313.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 158.99 313.35 Td (\("AUM"\), ) Tj ET Q
q 0 0 0 rg BT 204.17 313.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 221.81 313.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 237.11 313.35 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 285.65 313.35 Td (over ) Tj ET Q
q 0 0 0 rg BT 306.79 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 322.10 313.35 Td (period ) Tj ET Q
q 0 0 0 rg BT 351.40 313.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 362.05 313.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 390.19 313.35 Td (services ) Tj ET Q
q 0 0 0 rg BT 426.49 313.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 441.79 313.35 Td (performed ) Tj ET Q
q 0 0 0 rg BT 488.00 313.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 505.65 313.35 Td (may ) Tj ET Q
q 0 0 0 rg BT 526.21 313.35 Td (be ) Tj ET Q
q 0 0 0 rg BT 538.60 313.35 Td (billed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 59.85 300.75 Td (advance ) Tj ET Q
q 0 0 0 rg BT 96.42 300.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 107.35 300.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 122.36 300.75 Td (period ) Tj ET Q
q 0 0 0 rg BT 151.37 300.75 Td (earned ) Tj ET Q
q 0 0 0 rg BT 181.53 300.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 207.62 300.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 219.82 300.75 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 246.50 300.75 Td (at ) Tj ET Q
q 0 0 0 rg BT 256.26 300.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 271.27 300.75 Td (beginning ) Tj ET Q
q 0 0 0 rg BT 315.45 300.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 326.38 300.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 341.39 300.75 Td (billing ) Tj ET Q
q 0 0 0 rg BT 370.99 300.75 Td (period ) Tj ET Q
q 0 0 0 rg BT 399.99 300.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 410.34 300.75 Td (accordance ) Tj ET Q
q 0 0 0 rg BT 459.74 300.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 480.58 300.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 495.59 300.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 526.34 300.75 Td (advisory ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (contracts. ) Tj ET Q
q 0 0 0 rg BT 92.23 288.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 94.43 288.15 Td (Revenue ) Tj ET Q
q 0 0 0 rg BT 133.37 288.15 Td (associated ) Tj ET Q
q 0 0 0 rg BT 178.72 288.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 199.59 288.15 Td (advance ) Tj ET Q
q 0 0 0 rg BT 236.18 288.15 Td (billings ) Tj ET Q
q 0 0 0 rg BT 269.89 288.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 279.10 288.15 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 316.27 288.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 333.64 288.15 Td (included ) Tj ET Q
q 0 0 0 rg BT 371.99 288.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 382.36 288.15 Td (Other ) Tj ET Q
q 0 0 0 rg BT 408.47 288.15 Td (current ) Tj ET Q
q 0 0 0 rg BT 440.41 288.15 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 481.69 288.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 492.06 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 507.09 288.15 Td (Consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.55 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 85.92 275.55 Td (Sheets ) Tj ET Q
q 0 0 0 rg BT 115.93 275.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 133.70 275.55 Td (is ) Tj ET Q
q 0 0 0 rg BT 143.30 275.55 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 191.96 275.55 Td (over ) Tj ET Q
q 0 0 0 rg BT 213.22 275.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 228.65 275.55 Td (period ) Tj ET Q
q 0 0 0 rg BT 258.08 275.55 Td (earned. ) Tj ET Q
q 0 0 0 rg BT 291.28 275.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 293.88 275.55 Td (Performance ) Tj ET Q
q 0 0 0 rg BT 350.13 275.55 Td (fees ) Tj ET Q
q 0 0 0 rg BT 369.63 275.55 Td (may ) Tj ET Q
q 0 0 0 rg BT 390.31 275.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 402.82 275.55 Td (earned ) Tj ET Q
q 0 0 0 rg BT 433.41 275.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 446.51 275.55 Td (certain ) Tj ET Q
q 0 0 0 rg BT 477.67 275.55 Td (investment ) Tj ET Q
q 0 0 0 rg BT 526.35 275.55 Td (advisory ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 262.95 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 90.17 262.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 105.19 262.95 Td (exceeding ) Tj ET Q
q 0 0 0 rg BT 150.52 262.95 Td (performance ) Tj ET Q
q 0 0 0 rg BT 206.34 262.95 Td (benchmarks ) Tj ET Q
q 0 0 0 rg BT 259.85 262.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 271.37 262.95 Td (hurdle ) Tj ET Q
q 0 0 0 rg BT 300.96 262.95 Td (rates, ) Tj ET Q
q 0 0 0 rg BT 326.18 262.95 Td (depending ) Tj ET Q
q 0 0 0 rg BT 372.69 262.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 385.97 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 401.57 262.95 Td (product, ) Tj ET Q
q 0 0 0 rg BT 439.04 262.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 456.97 262.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 472.56 262.95 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 521.39 262.95 Td (at ) Tj ET Q
q 0 0 0 rg BT 531.74 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 547.34 262.95 Td (end ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 250.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.00 250.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 74.58 250.35 Td (performance ) Tj ET Q
q 0 0 0 rg BT 129.39 250.35 Td (measurement ) Tj ET Q
q 0 0 0 rg BT 187.12 250.35 Td (period. ) Tj ET Q
q 0 0 0 rg BT 218.33 250.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 219.69 250.35 Td (Accordingly) Tj ET Q
q 0 0 0 rg BT 271.50 250.35 Td (, ) Tj ET Q
q 0 0 0 rg BT 275.88 250.35 Td (neither ) Tj ET Q
q 0 0 0 rg BT 306.79 250.35 Td (advanced ) Tj ET Q
q 0 0 0 rg BT 348.18 250.35 Td (billings ) Tj ET Q
q 0 0 0 rg BT 381.44 250.35 Td (nor ) Tj ET Q
q 0 0 0 rg BT 397.20 250.35 Td (performance ) Tj ET Q
q 0 0 0 rg BT 452.00 250.35 Td (fees ) Tj ET Q
q 0 0 0 rg BT 470.66 250.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 485.23 250.35 Td (subject ) Tj ET Q
q 0 0 0 rg BT 516.73 250.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 526.65 250.35 Td (reversal. ) Tj ET Q
q 0 0 0 rg BT 565.13 250.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 237.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.79 237.75 Td (lar) Tj ET Q
q 0 0 0 rg BT 79.68 237.75 Td (gest ) Tj ET Q
q 0 0 0 rg BT 99.56 237.75 Td (portion ) Tj ET Q
q 0 0 0 rg BT 132.85 237.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 144.57 237.75 Td (performance ) Tj ET Q
q 0 0 0 rg BT 200.58 237.75 Td (fees ) Tj ET Q
q 0 0 0 rg BT 220.45 237.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 236.24 237.75 Td (earned ) Tj ET Q
q 0 0 0 rg BT 267.18 237.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 294.05 237.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 307.52 237.75 Td (12-month ) Tj ET Q
q 0 0 0 rg BT 351.32 237.75 Td (performance ) Tj ET Q
q 0 0 0 rg BT 407.33 237.75 Td (periods ) Tj ET Q
q 0 0 0 rg BT 441.21 237.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 459.92 237.75 Td (end ) Tj ET Q
q 0 0 0 rg BT 478.05 237.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 489.18 237.75 Td (dif) Tj ET Q
q 0 0 0 rg BT 500.65 237.75 Td (fering ) Tj ET Q
q 0 0 0 rg BT 528.69 237.75 Td (quarters ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 225.15 Td (during ) Tj ET Q
q 0 0 0 rg BT 79.72 225.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 95.36 225.15 Td (year) Tj ET Q
q 0 0 0 rg BT 113.00 225.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 118.44 225.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 139.91 225.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 147.38 225.15 Td (portion ) Tj ET Q
q 0 0 0 rg BT 180.52 225.15 Td (also ) Tj ET Q
q 0 0 0 rg BT 200.24 225.15 Td (based ) Tj ET Q
q 0 0 0 rg BT 226.95 225.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 240.26 225.15 Td (quarterly ) Tj ET Q
q 0 0 0 rg BT 280.97 225.15 Td (performance ) Tj ET Q
q 0 0 0 rg BT 336.82 225.15 Td (periods. ) Tj ET Q
q 0 0 0 rg BT 373.17 225.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 375.98 225.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 400.36 225.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 431.75 225.15 Td (also ) Tj ET Q
q 0 0 0 rg BT 451.47 225.15 Td (earns ) Tj ET Q
q 0 0 0 rg BT 476.43 225.15 Td (performance ) Tj ET Q
q 0 0 0 rg BT 532.29 225.15 Td (fees ) Tj ET Q
q 0 0 0 rg BT 552.00 225.15 Td (on ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 212.55 Td (alternative ) Tj ET Q
q 0 0 0 rg BT 95.98 212.55 Td (products ) Tj ET Q
q 0 0 0 rg BT 134.31 212.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 152.23 212.55 Td (lock ) Tj ET Q
q 0 0 0 rg BT 172.48 212.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 182.23 212.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 197.23 212.55 Td (end ) Tj ET Q
q 0 0 0 rg BT 214.57 212.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 225.49 212.55 Td (varying ) Tj ET Q
q 0 0 0 rg BT 259.73 212.55 Td (investment ) Tj ET Q
q 0 0 0 rg BT 307.98 212.55 Td (periods ) Tj ET Q
q 0 0 0 rg BT 341.07 212.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 351.99 212.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 362.33 212.55 Td (multiple-year ) Tj ET Q
q 0 0 0 rg BT 421.06 212.55 Td (intervals. ) Tj ET Q
q 0 0 0 rg BT 462.01 212.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 464.19 212.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 466.36 212.55 Td (Per ) Tj ET Q
q 0 0 0 rg BT 482.53 212.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 497.53 212.55 Td (terms ) Tj ET Q
q 0 0 0 rg BT 523.03 212.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 533.95 212.55 Td (certain ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 199.95 Td (recent ) Tj ET Q
q 0 0 0 rg BT 79.78 199.95 Td (acquisitions, ) Tj ET Q
q 0 0 0 rg BT 137.19 199.95 Td (performance ) Tj ET Q
q 0 0 0 rg BT 194.87 199.95 Td (fees ) Tj ET Q
q 0 0 0 rg BT 216.41 199.95 Td (earned ) Tj ET Q
q 0 0 0 rg BT 249.01 199.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 264.14 199.95 Td (pre-close ) Tj ET Q
q 0 0 0 rg BT 306.23 199.95 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 335.36 199.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 348.74 199.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 366.20 199.95 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 406.97 199.95 Td (entities ) Tj ET Q
q 0 0 0 rg BT 441.93 199.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 459.38 199.95 Td (fully ) Tj ET Q
q 0 0 0 rg BT 483.84 199.95 Td (passed ) Tj ET Q
q 0 0 0 rg BT 516.46 199.95 Td (through ) Tj ET Q
q 0 0 0 rg BT 553.75 199.95 Td (as ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 187.35 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 110.45 187.35 Td (expense, ) Tj ET Q
q 0 0 0 rg BT 149.51 187.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 167.30 187.35 Td (therefore ) Tj ET Q
q 0 0 0 rg BT 207.81 187.35 Td (have ) Tj ET Q
q 0 0 0 rg BT 230.26 187.35 Td (no ) Tj ET Q
q 0 0 0 rg BT 243.39 187.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 274.58 187.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 287.71 187.35 Td (Net ) Tj ET Q
q 0 0 0 rg BT 305.50 187.35 Td (Income ) Tj ET Q
q 0 0 0 rg BT 339.61 187.35 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 368.48 187.35 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 421.84 187.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 432.64 187.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 456.84 187.35 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 490.67 187.35 Td (Inc.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 162.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 73.19 162.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 103.89 162.15 Td (has ) Tj ET Q
q 0 0 0 rg BT 120.00 162.15 Td (responsibility ) Tj ET Q
q 0 0 0 rg BT 179.29 162.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 193.65 162.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 208.59 162.15 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 249.78 162.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 260.18 162.15 Td (AUM, ) Tj ET Q
q 0 0 0 rg BT 289.42 162.15 Td (substantially ) Tj ET Q
q 0 0 0 rg BT 344.62 162.15 Td (all ) Tj ET Q
q 0 0 0 rg BT 357.23 162.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 368.09 162.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 395.87 162.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 404.99 162.15 Td (based ) Tj ET Q
q 0 0 0 rg BT 431.01 162.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 443.63 162.15 Td (observable ) Tj ET Q
q 0 0 0 rg BT 491.23 162.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 522.50 162.15 Td (data ) Tj ET Q
q 0 0 0 rg BT 542.10 162.15 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 149.55 Td (independent ) Tj ET Q
q 0 0 0 rg BT 103.44 149.55 Td (pricing ) Tj ET Q
q 0 0 0 rg BT 135.81 149.55 Td (services, ) Tj ET Q
q 0 0 0 rg BT 174.88 149.55 Td (fund ) Tj ET Q
q 0 0 0 rg BT 196.75 149.55 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 245.44 149.55 Td (agents, ) Tj ET Q
q 0 0 0 rg BT 277.52 149.55 Td (custodians ) Tj ET Q
q 0 0 0 rg BT 324.47 149.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 335.84 149.55 Td (brokers.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 124.35 Td (Distribution ) Tj ET Q
q 0 0 0 rg BT 106.97 124.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 126.52 124.35 Td (Service ) Tj ET Q
q 0 0 0 rg BT 161.80 124.35 Td (Fees ) Tj ET Q
q 0 0 0 rg BT 184.25 124.35 Td (Revenue ) Tj ET Q
q 0 0 0 rg BT 225.37 124.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 244.92 124.35 Td (Expense) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 111.75 Td (Distribution ) Tj ET Q
q 0 0 0 rg BT 103.26 111.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 121.42 111.75 Td (service ) Tj ET Q
q 0 0 0 rg BT 154.16 111.75 Td (fees ) Tj ET Q
q 0 0 0 rg BT 174.07 111.75 Td (represent ) Tj ET Q
q 0 0 0 rg BT 215.55 111.75 Td (fees ) Tj ET Q
q 0 0 0 rg BT 235.46 111.75 Td (earned ) Tj ET Q
q 0 0 0 rg BT 266.44 111.75 Td (from ) Tj ET Q
q 0 0 0 rg BT 289.86 111.75 Td (funds ) Tj ET Q
q 0 0 0 rg BT 316.20 111.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 327.37 111.75 Td (reimburse ) Tj ET Q
q 0 0 0 rg BT 372.36 111.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 388.19 111.75 Td (distributor ) Tj ET Q
q 0 0 0 rg BT 434.94 111.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 450.19 111.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 466.02 111.75 Td (costs ) Tj ET Q
q 0 0 0 rg BT 490.03 111.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 501.78 111.75 Td (marketing ) Tj ET Q
q 0 0 0 rg BT 547.36 111.75 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 99.15 Td (selling ) Tj ET Q
q 0 0 0 rg BT 80.00 99.15 Td (fund ) Tj ET Q
q 0 0 0 rg BT 101.75 99.15 Td (shares ) Tj ET Q
q 0 0 0 rg BT 130.50 99.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 148.16 99.15 Td (servicing ) Tj ET Q
q 0 0 0 rg BT 189.15 99.15 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 238.30 99.15 Td (funds ) Tj ET Q
q 0 0 0 rg BT 264.14 99.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 281.80 99.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 297.13 99.15 Td (generally ) Tj ET Q
q 0 0 0 rg BT 338.69 99.15 Td (determined ) Tj ET Q
q 0 0 0 rg BT 388.43 99.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 399.68 99.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 406.84 99.15 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 454.81 99.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 466.06 99.15 Td (client ) Tj ET Q
q 0 0 0 rg BT 491.89 99.15 Td (assets. ) Tj ET Q
q 0 0 0 rg BT 521.52 99.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 524.02 99.15 Td (Reported ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 86.55 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 87.27 86.55 Td (also ) Tj ET Q
q 0 0 0 rg BT 106.37 86.55 Td (include ) Tj ET Q
q 0 0 0 rg BT 139.46 86.55 Td (fees ) Tj ET Q
q 0 0 0 rg BT 158.55 86.55 Td (earned ) Tj ET Q
q 0 0 0 rg BT 188.71 86.55 Td (from ) Tj ET Q
q 0 0 0 rg BT 211.31 86.55 Td (providing ) Tj ET Q
q 0 0 0 rg BT 254.33 86.55 Td (client ) Tj ET Q
q 0 0 0 rg BT 279.84 86.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 290.77 86.55 Td (shareholder ) Tj ET Q
q 0 0 0 rg BT 341.93 86.55 Td (servicing, ) Tj ET Q
q 0 0 0 rg BT 385.23 86.55 Td (including ) Tj ET Q
q 0 0 0 rg BT 427.08 86.55 Td (record ) Tj ET Q
q 0 0 0 rg BT 456.08 86.55 Td (keeping ) Tj ET Q
q 0 0 0 rg BT 491.51 86.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 502.44 86.55 Td (administrative ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 73.95 Td (services ) Tj ET Q
q 0 0 0 rg BT 85.48 73.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 95.82 73.95 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 144.63 73.95 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 172.75 73.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 190.08 73.95 Td (non-discretionary ) Tj ET Q
q 0 0 0 rg BT 266.31 73.95 Td (advisory ) Tj ET Q
q 0 0 0 rg BT 304.63 73.95 Td (services ) Tj ET Q
q 0 0 0 rg BT 340.62 73.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 355.03 73.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 381.69 73.95 Td (under ) Tj ET Q
q 0 0 0 rg BT 407.77 73.95 Td (advisement. ) Tj ET Q
q 0 0 0 rg BT 460.38 73.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 462.54 73.95 Td (Distribution ) Tj ET Q
q 0 0 0 rg BT 515.46 73.95 Td (fees ) Tj ET Q
q 0 0 0 rg BT 534.53 73.95 Td (earned ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 61.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 62.25 61.35 Td (company-sponsored ) Tj ET Q
q 0 0 0 rg BT 149.06 61.35 Td (investment ) Tj ET Q
q 0 0 0 rg BT 197.39 61.35 Td (funds ) Tj ET Q
q 0 0 0 rg BT 222.97 61.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 238.04 61.35 Td (reported ) Tj ET Q
q 0 0 0 rg BT 275.27 61.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 286.27 61.35 Td (revenue. ) Tj ET Q
q 0 0 0 rg BT 324.21 61.35 Td (When ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 257.41 502.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 275.20 502.35 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 280.45 502.35 Td (4,891) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 304.07 502.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 306.70 502.35 Td (at ) Tj ET Q
q 0 0 0 rg BT 316.90 502.35 Td (March�31, ) Tj ET Q
q 0 0 0 rg BT 362.68 502.35 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 386.31 502.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 404.09 502.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 430.34 502.35 Td (respectively) Tj ET Q
q 0 0 0 rg BT 480.39 502.35 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (As ) Tj ET Q
q 0 0 0 rg BT 64.09 477.15 Td (further ) Tj ET Q
q 0 0 0 rg BT 95.58 477.15 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 138.75 477.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 149.84 477.15 Td ("Recent ) Tj ET Q
q 0 0 0 rg BT 185.56 477.15 Td (Accounting ) Tj ET Q
q 0 0 0 rg BT 237.47 477.15 Td (Developments" ) Tj ET Q
q 0 0 0 rg BT 305.33 477.15 Td (below) Tj ET Q
q 0 0 0 rg BT 330.31 477.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 335.86 477.15 Td (ef) Tj ET Q
q 0 0 0 rg BT 343.83 477.15 Td (fective ) Tj ET Q
q 0 0 0 rg BT 374.67 477.15 Td (April ) Tj ET Q
q 0 0 0 rg BT 399.76 477.15 Td (1, ) Tj ET Q
q 0 0 0 rg BT 410.55 477.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 437.10 477.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 461.60 477.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 493.10 477.15 Td (adopted ) Tj ET Q
q 0 0 0 rg BT 529.26 477.15 Td (updated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 97.49 464.55 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 137.31 464.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 149.74 464.55 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 184.89 464.55 Td (recognition ) Tj ET Q
q 0 0 0 rg BT 234.63 464.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 247.06 464.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 253.64 464.55 Td (modified ) Tj ET Q
q 0 0 0 rg BT 293.48 464.55 Td (retrospective ) Tj ET Q
q 0 0 0 rg BT 349.62 464.55 Td (basis. ) Tj ET Q
q 0 0 0 rg BT 375.17 464.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 377.10 464.55 Td (Under ) Tj ET Q
q 0 0 0 rg BT 405.26 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 420.01 464.55 Td (updated ) Tj ET Q
q 0 0 0 rg BT 455.18 464.55 Td (guidance, ) Tj ET Q
q 0 0 0 rg BT 497.63 464.55 Td (certain ) Tj ET Q
q 0 0 0 rg BT 528.11 464.55 Td (separate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (account ) Tj ET Q
q 0 0 0 rg BT 86.37 451.95 Td (commissions ) Tj ET Q
q 0 0 0 rg BT 145.43 451.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 165.39 451.95 Td (were ) Tj ET Q
q 0 0 0 rg BT 190.01 451.95 Td (expensed ) Tj ET Q
q 0 0 0 rg BT 233.30 451.95 Td (when ) Tj ET Q
q 0 0 0 rg BT 260.26 451.95 Td (paid ) Tj ET Q
q 0 0 0 rg BT 282.56 451.95 Td (under ) Tj ET Q
q 0 0 0 rg BT 310.69 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 327.73 451.95 Td (prior ) Tj ET Q
q 0 0 0 rg BT 352.36 451.95 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 394.48 451.95 Td (meet ) Tj ET Q
q 0 0 0 rg BT 419.11 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 436.16 451.95 Td (criteria ) Tj ET Q
q 0 0 0 rg BT 470.10 451.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 486.56 451.95 Td (capitalization ) Tj ET Q
q 0 0 0 rg BT 547.34 451.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (amortization. ) Tj ET Q
q 0 0 0 rg BT 107.69 439.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 110.00 439.35 Td (This ) Tj ET Q
q 0 0 0 rg BT 131.16 439.35 Td (change ) Tj ET Q
q 0 0 0 rg BT 163.39 439.35 Td (will ) Tj ET Q
q 0 0 0 rg BT 182.22 439.35 Td (require ) Tj ET Q
q 0 0 0 rg BT 214.44 439.35 Td (recognition ) Tj ET Q
q 0 0 0 rg BT 264.76 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 276.00 439.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 283.15 439.35 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 320.62 439.35 Td (commissions ) Tj ET Q
q 0 0 0 rg BT 377.95 439.35 Td (cost ) Tj ET Q
q 0 0 0 rg BT 397.36 439.35 Td (asset, ) Tj ET Q
q 0 0 0 rg BT 422.89 439.35 Td (but ) Tj ET Q
q 0 0 0 rg BT 438.80 439.35 Td (will ) Tj ET Q
q 0 0 0 rg BT 457.63 439.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 473.55 439.35 Td (materially ) Tj ET Q
q 0 0 0 rg BT 518.61 439.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 549.67 439.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (amount ) Tj ET Q
q 0 0 0 rg BT 83.62 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 94.99 426.75 Td (commission ) Tj ET Q
q 0 0 0 rg BT 148.37 426.75 Td (expense ) Tj ET Q
q 0 0 0 rg BT 184.81 426.75 Td (recognized, ) Tj ET Q
q 0 0 0 rg BT 236.12 426.75 Td (absent ) Tj ET Q
q 0 0 0 rg BT 265.57 426.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 272.86 426.75 Td (significant ) Tj ET Q
q 0 0 0 rg BT 319.81 426.75 Td (change ) Tj ET Q
q 0 0 0 rg BT 352.16 426.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 362.96 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 378.41 426.75 Td (volume ) Tj ET Q
q 0 0 0 rg BT 412.53 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 423.90 426.75 Td (such ) Tj ET Q
q 0 0 0 rg BT 445.77 426.75 Td (commissions.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (Income ) Tj ET Q
q 0 0 0 rg BT 85.18 401.55 Td (T) Tj ET Q
q 0 0 0 rg BT 91.22 401.55 Td (axes) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (Deferred ) Tj ET Q
q 0 0 0 rg BT 89.04 388.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 122.17 388.95 Td (taxes ) Tj ET Q
q 0 0 0 rg BT 145.98 388.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 161.03 388.95 Td (provided ) Tj ET Q
q 0 0 0 rg BT 200.58 388.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 215.05 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 230.11 388.95 Td (ef) Tj ET Q
q 0 0 0 rg BT 238.08 388.95 Td (fects ) Tj ET Q
q 0 0 0 rg BT 260.13 388.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 271.11 388.95 Td (temporary ) Tj ET Q
q 0 0 0 rg BT 316.49 388.95 Td (dif) Tj ET Q
q 0 0 0 rg BT 327.96 388.95 Td (ferences ) Tj ET Q
q 0 0 0 rg BT 365.17 388.95 Td (between ) Tj ET Q
q 0 0 0 rg BT 402.38 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 417.44 388.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 432.50 388.95 Td (basis ) Tj ET Q
q 0 0 0 rg BT 455.73 388.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 466.71 388.95 Td (an ) Tj ET Q
q 0 0 0 rg BT 478.85 388.95 Td (asset ) Tj ET Q
q 0 0 0 rg BT 501.49 388.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 512.47 388.95 Td (liability ) Tj ET Q
q 0 0 0 rg BT 547.36 388.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (its ) Tj ET Q
q 0 0 0 rg BT 63.22 376.35 Td (reported ) Tj ET Q
q 0 0 0 rg BT 102.00 376.35 Td (amount ) Tj ET Q
q 0 0 0 rg BT 137.29 376.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 149.26 376.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 165.88 376.35 Td (financial ) Tj ET Q
q 0 0 0 rg BT 206.41 376.35 Td (statements. ) Tj ET Q
q 0 0 0 rg BT 257.16 376.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 260.96 376.35 Td (Deferred ) Tj ET Q
q 0 0 0 rg BT 302.06 376.35 Td (income ) Tj ET Q
q 0 0 0 rg BT 336.76 376.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 353.39 376.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 381.69 376.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 398.30 376.35 Td (subject ) Tj ET Q
q 0 0 0 rg BT 431.84 376.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 443.81 376.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 452.27 376.35 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 495.14 376.35 Td (allowance ) Tj ET Q
q 0 0 0 rg BT 541.50 376.35 Td (if, ) Tj ET Q
q 0 0 0 rg BT 554.33 376.35 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (management's ) Tj ET Q
q 0 0 0 rg BT 112.32 363.75 Td (opinion, ) Tj ET Q
q 0 0 0 rg BT 150.23 363.75 Td (it ) Tj ET Q
q 0 0 0 rg BT 159.26 363.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 169.46 363.75 Td (more ) Tj ET Q
q 0 0 0 rg BT 194.24 363.75 Td (likely ) Tj ET Q
q 0 0 0 rg BT 221.35 363.75 Td (than ) Tj ET Q
q 0 0 0 rg BT 242.62 363.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 259.24 363.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 278.18 363.75 Td (these ) Tj ET Q
q 0 0 0 rg BT 302.95 363.75 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 339.39 363.75 Td (will ) Tj ET Q
q 0 0 0 rg BT 358.92 363.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 375.54 363.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 388.65 363.75 Td (realized. ) Tj ET Q
q 0 0 0 rg BT 427.69 363.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 430.89 363.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 455.67 363.75 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 493.42 363.75 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 531.59 363.75 Td (income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (taxes ) Tj ET Q
q 0 0 0 rg BT 75.48 351.15 Td (principally ) Tj ET Q
q 0 0 0 rg BT 125.37 351.15 Td (relate ) Tj ET Q
q 0 0 0 rg BT 153.08 351.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 165.65 351.15 Td (net ) Tj ET Q
q 0 0 0 rg BT 182.88 351.15 Td (operating ) Tj ET Q
q 0 0 0 rg BT 226.94 351.15 Td (loss ) Tj ET Q
q 0 0 0 rg BT 247.68 351.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 267.24 351.15 Td (other ) Tj ET Q
q 0 0 0 rg BT 293.22 351.15 Td (carryforward ) Tj ET Q
q 0 0 0 rg BT 352.42 351.15 Td (benefits, ) Tj ET Q
q 0 0 0 rg BT 392.69 351.15 Td (business ) Tj ET Q
q 0 0 0 rg BT 432.68 351.15 Td (combinations, ) Tj ET Q
q 0 0 0 rg BT 496.28 351.15 Td (amortization ) Tj ET Q
q 0 0 0 rg BT 553.75 351.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 94.12 338.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 121.24 338.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 139.02 338.55 Td (accrued ) Tj ET Q
q 0 0 0 rg BT 174.29 338.55 Td (compensation. ) Tj ET Q
q 0 0 0 rg BT 237.86 338.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.71 313.35 Td (further ) Tj ET Q
q 0 0 0 rg BT 94.83 313.35 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 137.62 313.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 148.33 313.35 Td (Note ) Tj ET Q
q 0 0 0 rg BT 171.29 313.35 Td (7, ) Tj ET Q
q 0 0 0 rg BT 181.71 313.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 194.76 313.35 Td (December ) Tj ET Q
q 0 0 0 rg BT 240.44 313.35 Td (22, ) Tj ET Q
q 0 0 0 rg BT 256.11 313.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 282.28 313.35 Td (H.R. ) Tj ET Q
q 0 0 0 rg BT 304.66 313.35 Td (1 ) Tj ET Q
q 0 0 0 rg BT 312.46 313.35 Td ("An ) Tj ET Q
q 0 0 0 rg BT 331.56 313.35 Td (Act ) Tj ET Q
q 0 0 0 rg BT 349.27 313.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 359.98 313.35 Td (Provide ) Tj ET Q
q 0 0 0 rg BT 395.19 313.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 409.98 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 425.35 313.35 Td (Reconciliation ) Tj ET Q
q 0 0 0 rg BT 489.13 313.35 Td (Pursuant ) Tj ET Q
q 0 0 0 rg BT 528.43 313.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 538.96 313.35 Td (T) Tj ET Q
q 0 0 0 rg BT 545.00 313.35 Td (itles ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (II ) Tj ET Q
q 0 0 0 rg BT 59.25 300.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 76.96 300.75 Td (V) Tj ET Q
q 0 0 0 rg BT 84.35 300.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 87.10 300.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 98.60 300.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 114.18 300.75 Td (Concurrent ) Tj ET Q
q 0 0 0 rg BT 164.17 300.75 Td (Resolution ) Tj ET Q
q 0 0 0 rg BT 212.42 300.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 225.68 300.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 241.26 300.75 Td (Budget ) Tj ET Q
q 0 0 0 rg BT 274.34 300.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 289.34 300.75 Td (Fiscal ) Tj ET Q
q 0 0 0 rg BT 316.76 300.75 Td (Y) Tj ET Q
q 0 0 0 rg BT 323.29 300.75 Td (ear ) Tj ET Q
q 0 0 0 rg BT 338.86 300.75 Td (2018" ) Tj ET Q
q 0 0 0 rg BT 366.90 300.75 Td (\(the ) Tj ET Q
q 0 0 0 rg BT 385.98 300.75 Td ("T) Tj ET Q
q 0 0 0 rg BT 395.94 300.75 Td (ax ) Tj ET Q
q 0 0 0 rg BT 408.61 300.75 Td (Law"\) ) Tj ET Q
q 0 0 0 rg BT 437.80 300.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 456.88 300.75 Td (enacted. ) Tj ET Q
q 0 0 0 rg BT 494.32 300.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 496.87 300.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 515.75 300.75 Td (T) Tj ET Q
q 0 0 0 rg BT 521.43 300.75 Td (ax ) Tj ET Q
q 0 0 0 rg BT 534.09 300.75 Td (Law ) Tj ET Q
q 0 0 0 rg BT 555.50 300.75 Td (is ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 288.15 Td (complex, ) Tj ET Q
q 0 0 0 rg BT 90.40 288.15 Td (materially ) Tj ET Q
q 0 0 0 rg BT 135.07 288.15 Td (changes ) Tj ET Q
q 0 0 0 rg BT 171.01 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 185.95 288.15 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 206.74 288.15 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 248.49 288.15 Td (income ) Tj ET Q
q 0 0 0 rg BT 281.51 288.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 296.45 288.15 Td (rate ) Tj ET Q
q 0 0 0 rg BT 314.30 288.15 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 336.83 288.15 Td (35%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 356.07 288.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 358.19 288.15 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 368.47 288.15 Td (21%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 387.72 288.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 389.83 288.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 407.10 288.15 Td (includes ) Tj ET Q
q 0 0 0 rg BT 444.21 288.15 Td (various ) Tj ET Q
q 0 0 0 rg BT 477.23 288.15 Td (other ) Tj ET Q
q 0 0 0 rg BT 500.92 288.15 Td (changes ) Tj ET Q
q 0 0 0 rg BT 536.86 288.15 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.55 Td (will ) Tj ET Q
q 0 0 0 rg BT 69.32 275.55 Td (impact ) Tj ET Q
q 0 0 0 rg BT 101.39 275.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 126.45 275.55 Td (Mason. ) Tj ET Q
q 0 0 0 rg BT 161.15 275.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 164.38 275.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 184.20 275.55 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 227.34 275.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 239.00 275.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 255.31 275.55 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 277.47 275.55 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 320.61 275.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 336.92 275.55 Td (rate ) Tj ET Q
q 0 0 0 rg BT 356.15 275.55 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 392.88 275.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 404.53 275.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 412.68 275.55 Td (non-cash ) Tj ET Q
q 0 0 0 rg BT 454.07 275.55 Td (provisional ) Tj ET Q
q 0 0 0 rg BT 504.81 275.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 521.13 275.55 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 553.77 275.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 262.95 Td ($220,935) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 88.88 262.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 91.40 262.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 102.09 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 117.44 262.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 138.03 262.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 165.63 262.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 195.56 262.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 211.21 262.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 237.36 262.95 Td (due ) Tj ET Q
q 0 0 0 rg BT 255.04 262.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 265.73 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 281.08 262.95 Td (remeasurement ) Tj ET Q
q 0 0 0 rg BT 347.74 262.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 359.01 262.95 Td (certain ) Tj ET Q
q 0 0 0 rg BT 390.10 262.95 Td (existing ) Tj ET Q
q 0 0 0 rg BT 425.87 262.95 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 463.37 262.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 478.72 262.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 505.74 262.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 523.43 262.95 Td (liabilities ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 250.35 Td (at ) Tj ET Q
q 0 0 0 rg BT 60.73 250.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 77.21 250.35 Td (new ) Tj ET Q
q 0 0 0 rg BT 98.36 250.35 Td (income ) Tj ET Q
q 0 0 0 rg BT 132.91 250.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 149.39 250.35 Td (rate. ) Tj ET Q
q 0 0 0 rg BT 171.41 250.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 175.06 250.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 200.28 250.35 Td (Mason�) Tj ET Q
q 0 0 0 rg BT 231.79 250.35 Td (s ) Tj ET Q
q 0 0 0 rg BT 239.52 250.35 Td (remeasurement ) Tj ET Q
q 0 0 0 rg BT 307.31 250.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 319.71 250.35 Td (its ) Tj ET Q
q 0 0 0 rg BT 333.28 250.35 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 371.91 250.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 388.39 250.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 416.54 250.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 435.35 250.35 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 478.08 250.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 488.74 250.35 Td (subject ) Tj ET Q
q 0 0 0 rg BT 522.13 250.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 533.95 250.35 Td (further ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 237.75 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 102.31 237.75 Td (during ) Tj ET Q
q 0 0 0 rg BT 132.37 237.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 139.68 237.75 Td (one-year ) Tj ET Q
q 0 0 0 rg BT 179.05 237.75 Td (measurement ) Tj ET Q
q 0 0 0 rg BT 237.68 237.75 Td (period ) Tj ET Q
q 0 0 0 rg BT 267.15 237.75 Td (due ) Tj ET Q
q 0 0 0 rg BT 284.96 237.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 295.77 237.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 311.25 237.75 Td (complexity ) Tj ET Q
q 0 0 0 rg BT 361.13 237.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 372.53 237.75 Td (determining ) Tj ET Q
q 0 0 0 rg BT 425.91 237.75 Td (its ) Tj ET Q
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q 0 0 0 rg BT 383.97 590.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 401.92 590.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 428.04 590.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 440.17 590.55 Td (equity-classified ) Tj ET Q
q 0 0 0 rg BT 512.95 590.55 Td (share-based ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (awards ) Tj ET Q
q 0 0 0 rg BT 81.15 577.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 101.74 577.95 Td (immediate ) Tj ET Q
q 0 0 0 rg BT 147.98 577.95 Td (vesting ) Tj ET Q
q 0 0 0 rg BT 180.23 577.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 189.15 577.95 Td (also ) Tj ET Q
q 0 0 0 rg BT 207.98 577.95 Td (included ) Tj ET Q
q 0 0 0 rg BT 246.05 577.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 256.14 577.95 Td (Compensation ) Tj ET Q
q 0 0 0 rg BT 318.72 577.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 335.80 577.95 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 370.95 577.95 Td (expense. ) Tj ET Q
q 0 0 0 rg BT 409.32 577.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 411.23 577.95 Td (Ef) Tj ET Q
q 0 0 0 rg BT 420.95 577.95 Td (fective ) Tj ET Q
q 0 0 0 rg BT 451.01 577.95 Td (April ) Tj ET Q
q 0 0 0 rg BT 475.09 577.95 Td (1, ) Tj ET Q
q 0 0 0 rg BT 484.89 577.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 510.43 577.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 533.92 577.95 Td (Mason ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (adopted ) Tj ET Q
q 0 0 0 rg BT 85.59 565.35 Td (updated ) Tj ET Q
q 0 0 0 rg BT 121.68 565.35 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 170.60 565.35 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 211.35 565.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 224.70 565.35 Td (stock-based ) Tj ET Q
q 0 0 0 rg BT 277.13 565.35 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 338.30 565.35 Td (accounting. ) Tj ET Q
q 0 0 0 rg BT 389.84 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 392.49 565.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 411.66 565.35 Td (updated ) Tj ET Q
q 0 0 0 rg BT 447.76 565.35 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 488.51 565.35 Td (simplifies ) Tj ET Q
q 0 0 0 rg BT 532.78 565.35 Td (several ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (aspects ) Tj ET Q
q 0 0 0 rg BT 83.42 552.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 95.77 552.75 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 145.43 552.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 161.28 552.75 Td (stock-based ) Tj ET Q
q 0 0 0 rg BT 214.44 552.75 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 276.36 552.75 Td (including ) Tj ET Q
q 0 0 0 rg BT 319.63 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 336.05 552.75 Td (income ) Tj ET Q
q 0 0 0 rg BT 370.56 552.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 386.99 552.75 Td (consequences, ) Tj ET Q
q 0 0 0 rg BT 450.94 552.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 469.70 552.75 Td (clarifies ) Tj ET Q
q 0 0 0 rg BT 507.11 552.75 Td (classification ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (criteria ) Tj ET Q
q 0 0 0 rg BT 81.91 540.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 96.84 540.15 Td (awards ) Tj ET Q
q 0 0 0 rg BT 129.26 540.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 140.69 540.15 Td (either ) Tj ET Q
q 0 0 0 rg BT 167.28 540.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 196.21 540.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 207.64 540.15 Td (liabilities, ) Tj ET Q
q 0 0 0 rg BT 252.03 540.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 269.87 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 285.38 540.15 Td (classification ) Tj ET Q
q 0 0 0 rg BT 343.47 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 354.90 540.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 386.15 540.15 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 424.41 540.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 435.26 540.15 Td (statements ) Tj ET Q
q 0 0 0 rg BT 482.27 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 493.70 540.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 515.05 540.15 Td (flows. ) Tj ET Q
q 0 0 0 rg BT 543.69 540.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 546.18 540.15 Td (The ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (updated ) Tj ET Q
q 0 0 0 rg BT 84.40 527.55 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 123.96 527.55 Td (requires ) Tj ET Q
q 0 0 0 rg BT 159.44 527.55 Td (all ) Tj ET Q
q 0 0 0 rg BT 171.60 527.55 Td (excess ) Tj ET Q
q 0 0 0 rg BT 200.67 527.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 215.16 527.55 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 250.06 527.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 266.89 527.55 Td (deficiencies ) Tj ET Q
q 0 0 0 rg BT 318.69 527.55 Td (associated ) Tj ET Q
q 0 0 0 rg BT 363.50 527.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 383.83 527.55 Td (stock-based ) Tj ET Q
q 0 0 0 rg BT 435.06 527.55 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 495.05 527.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 504.88 527.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 516.45 527.55 Td (recognized ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 61.51 514.95 Td (discrete ) Tj ET Q
q 0 0 0 rg BT 97.42 514.95 Td (items ) Tj ET Q
q 0 0 0 rg BT 123.43 514.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 134.86 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 150.95 514.95 Td (Income ) Tj ET Q
q 0 0 0 rg BT 185.69 514.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 201.78 514.95 Td (provision ) Tj ET Q
q 0 0 0 rg BT 244.71 514.95 Td (\(benefit\) ) Tj ET Q
q 0 0 0 rg BT 284.12 514.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 295.54 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 311.63 514.95 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 370.31 514.95 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 419.65 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 431.65 514.95 Td (Income ) Tj ET Q
q 0 0 0 rg BT 466.40 514.95 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 496.49 514.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 507.92 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 524.01 514.95 Td (reporting ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (period ) Tj ET Q
q 0 0 0 rg BT 78.78 502.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 89.40 502.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 117.51 502.35 Td (they ) Tj ET Q
q 0 0 0 rg BT 138.04 502.35 Td (occur) Tj ET Q
q 0 0 0 rg BT 160.94 502.35 Td (, ) Tj ET Q
q 0 0 0 rg BT 166.02 502.35 Td (thereby ) Tj ET Q
q 0 0 0 rg BT 199.96 502.35 Td (increasing ) Tj ET Q
q 0 0 0 rg BT 245.56 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 260.84 502.35 Td (volatility ) Tj ET Q
q 0 0 0 rg BT 301.21 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 312.41 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 327.69 502.35 Td (Income ) Tj ET Q
q 0 0 0 rg BT 361.63 502.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 376.91 502.35 Td (provision ) Tj ET Q
q 0 0 0 rg BT 419.03 502.35 Td (\(benefit\) ) Tj ET Q
q 0 0 0 rg BT 457.63 502.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 468.83 502.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 475.95 502.35 Td (result ) Tj ET Q
q 0 0 0 rg BT 501.73 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 512.93 502.35 Td (fluctuations ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 61.44 489.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 86.79 489.75 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 125.12 489.75 Td (stock ) Tj ET Q
q 0 0 0 rg BT 151.06 489.75 Td (price. ) Tj ET Q
q 0 0 0 rg BT 178.44 489.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 182.21 489.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 207.56 489.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 239.91 489.75 Td (adopted ) Tj ET Q
q 0 0 0 rg BT 276.92 489.75 Td (this ) Tj ET Q
q 0 0 0 rg BT 295.87 489.75 Td (amendment ) Tj ET Q
q 0 0 0 rg BT 348.62 489.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 362.90 489.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 371.33 489.75 Td (modified ) Tj ET Q
q 0 0 0 rg BT 413.01 489.75 Td (retrospective ) Tj ET Q
q 0 0 0 rg BT 471.01 489.75 Td (basis, ) Tj ET Q
q 0 0 0 rg BT 498.40 489.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 517.34 489.75 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 557.83 489.75 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (cumulative-ef) Tj ET Q
q 0 0 0 rg BT 107.62 477.15 Td (fect ) Tj ET Q
q 0 0 0 rg BT 125.19 477.15 Td (adjustment ) Tj ET Q
q 0 0 0 rg BT 173.10 477.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 183.69 477.15 Td ($24,327) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 217.81 477.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 219.65 477.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 230.23 477.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 241.98 477.15 Td (increase ) Tj ET Q
q 0 0 0 rg BT 278.21 477.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 288.21 477.15 Td (both ) Tj ET Q
q 0 0 0 rg BT 308.72 477.15 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 345.53 477.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 360.19 477.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 386.53 477.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 403.52 477.15 Td (Retained ) Tj ET Q
q 0 0 0 rg BT 442.68 477.15 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 480.09 477.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 492.43 477.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 507.09 477.15 Td (Consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 85.87 464.55 Td (Sheet ) Tj ET Q
q 0 0 0 rg BT 111.76 464.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 123.06 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 133.81 464.55 Td (April ) Tj ET Q
q 0 0 0 rg BT 158.53 464.55 Td (1, ) Tj ET Q
q 0 0 0 rg BT 168.96 464.55 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 195.15 464.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 197.52 464.55 Td (These ) Tj ET Q
q 0 0 0 rg BT 225.15 464.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 240.54 464.55 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 276.33 464.55 Td (were ) Tj ET Q
q 0 0 0 rg BT 299.29 464.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 315.27 464.55 Td (previously ) Tj ET Q
q 0 0 0 rg BT 362.16 464.55 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 410.77 464.55 Td (due ) Tj ET Q
q 0 0 0 rg BT 428.49 464.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 439.22 464.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 463.35 464.55 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 500.47 464.55 Td (cumulative ) Tj ET Q
q 0 0 0 rg BT 549.68 464.55 Td (tax ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (loss ) Tj ET Q
q 0 0 0 rg BT 67.99 451.95 Td (position. ) Tj ET Q
q 0 0 0 rg BT 106.60 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 108.75 451.95 Td (In ) Tj ET Q
q 0 0 0 rg BT 119.65 451.95 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 158.84 451.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 182.56 451.95 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 213.29 451.95 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 252.17 451.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 258.98 451.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 289.69 451.95 Td (discrete ) Tj ET Q
q 0 0 0 rg BT 324.49 451.95 Td (Income ) Tj ET Q
q 0 0 0 rg BT 358.12 451.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 373.10 451.95 Td (expense ) Tj ET Q
q 0 0 0 rg BT 409.07 451.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 419.97 451.95 Td ($796) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.97 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 443.12 451.95 Td (during ) Tj ET Q
q 0 0 0 rg BT 472.68 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 487.66 451.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 507.87 451.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 535.09 451.95 Td (March ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 65.66 439.35 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 92.32 439.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 107.59 439.35 Td (vested ) Tj ET Q
q 0 0 0 rg BT 137.45 439.35 Td (stock ) Tj ET Q
q 0 0 0 rg BT 162.65 439.35 Td (awards ) Tj ET Q
q 0 0 0 rg BT 195.42 439.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 217.12 439.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 224.82 439.35 Td (grant ) Tj ET Q
q 0 0 0 rg BT 249.43 439.35 Td (date ) Tj ET Q
q 0 0 0 rg BT 269.95 439.35 Td (exercise ) Tj ET Q
q 0 0 0 rg BT 307.38 439.35 Td (price ) Tj ET Q
q 0 0 0 rg BT 331.40 439.35 Td (higher ) Tj ET Q
q 0 0 0 rg BT 361.25 439.35 Td (than ) Tj ET Q
q 0 0 0 rg BT 382.37 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 398.23 439.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 429.82 439.35 Td (vesting ) Tj ET Q
q 0 0 0 rg BT 463.19 439.35 Td (date ) Tj ET Q
q 0 0 0 rg BT 483.71 439.35 Td (stock ) Tj ET Q
q 0 0 0 rg BT 508.91 439.35 Td (price, ) Tj ET Q
q 0 0 0 rg BT 535.55 439.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 547.34 439.35 Td (this ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (aspect ) Tj ET Q
q 0 0 0 rg BT 78.09 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 89.19 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 104.37 426.75 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 144.62 426.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 163.31 426.75 Td (adopted ) Tj ET Q
q 0 0 0 rg BT 198.90 426.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 211.75 426.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 218.77 426.75 Td (prospective ) Tj ET Q
q 0 0 0 rg BT 269.52 426.75 Td (basis. ) Tj ET Q
q 0 0 0 rg BT 295.50 426.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 297.85 426.75 Td (Upon ) Tj ET Q
q 0 0 0 rg BT 323.54 426.75 Td (adoption ) Tj ET Q
q 0 0 0 rg BT 362.64 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 373.74 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 388.92 426.75 Td (updated ) Tj ET Q
q 0 0 0 rg BT 424.51 426.75 Td (guidance, ) Tj ET Q
q 0 0 0 rg BT 467.39 426.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 491.32 426.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 522.26 426.75 Td (elected ) Tj ET Q
q 0 0 0 rg BT 554.34 426.75 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (prospectively ) Tj ET Q
q 0 0 0 rg BT 109.46 414.15 Td (account ) Tj ET Q
q 0 0 0 rg BT 145.50 414.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 161.14 414.15 Td (forfeitures ) Tj ET Q
q 0 0 0 rg BT 208.27 414.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 220.41 414.15 Td (they ) Tj ET Q
q 0 0 0 rg BT 241.88 414.15 Td (occur) Tj ET Q
q 0 0 0 rg BT 264.78 414.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 270.79 414.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 299.85 414.15 Td (did ) Tj ET Q
q 0 0 0 rg BT 316.66 414.15 Td (not ) Tj ET Q
q 0 0 0 rg BT 333.47 414.15 Td (have ) Tj ET Q
q 0 0 0 rg BT 356.69 414.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 364.74 414.15 Td (material ) Tj ET Q
q 0 0 0 rg BT 402.54 414.15 Td (impact ) Tj ET Q
q 0 0 0 rg BT 434.50 414.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 448.40 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 464.62 414.15 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 523.43 414.15 Td (Financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (Statements. ) Tj ET Q
q 0 0 0 rg BT 100.21 401.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 101.78 401.55 Td (Also, ) Tj ET Q
q 0 0 0 rg BT 126.25 401.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 146.91 401.55 Td (flows ) Tj ET Q
q 0 0 0 rg BT 172.25 401.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 202.83 401.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 213.00 401.55 Td (income ) Tj ET Q
q 0 0 0 rg BT 245.92 401.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 260.75 401.55 Td (deductions ) Tj ET Q
q 0 0 0 rg BT 308.25 401.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 318.43 401.55 Td (excess ) Tj ET Q
q 0 0 0 rg BT 347.84 401.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 358.60 401.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 369.35 401.55 Td (less ) Tj ET Q
q 0 0 0 rg BT 387.11 401.55 Td (than ) Tj ET Q
q 0 0 0 rg BT 407.20 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 422.04 401.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 452.61 401.55 Td (stock-based ) Tj ET Q
q 0 0 0 rg BT 504.18 401.55 Td (compensation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 388.95 Td (expense ) Tj ET Q
q 0 0 0 rg BT 85.94 388.95 Td (will ) Tj ET Q
q 0 0 0 rg BT 104.90 388.95 Td (be ) Tj ET Q
q 0 0 0 rg BT 117.44 388.95 Td (classified ) Tj ET Q
q 0 0 0 rg BT 159.72 388.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 171.09 388.95 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 194.72 388.95 Td (Flows ) Tj ET Q
q 0 0 0 rg BT 223.02 388.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 246.05 388.95 Td (Operating ) Tj ET Q
q 0 0 0 rg BT 290.08 388.95 Td (Activities ) Tj ET Q
q 0 0 0 rg BT 333.54 388.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 344.33 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 359.78 388.95 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 417.82 388.95 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 466.53 388.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 477.90 388.95 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 501.52 388.95 Td (Flows.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 363.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 74.03 363.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 105.57 363.75 Td (determines ) Tj ET Q
q 0 0 0 rg BT 154.60 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 170.38 363.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 187.91 363.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 213.61 363.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 225.31 363.75 Td (stock ) Tj ET Q
q 0 0 0 rg BT 250.43 363.75 Td (options ) Tj ET Q
q 0 0 0 rg BT 284.31 363.75 Td (using ) Tj ET Q
q 0 0 0 rg BT 310.02 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 325.81 363.75 Td (Black-Scholes ) Tj ET Q
q 0 0 0 rg BT 389.42 363.75 Td (option-pricing ) Tj ET Q
q 0 0 0 rg BT 452.45 363.75 Td (model, ) Tj ET Q
q 0 0 0 rg BT 484.27 363.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 505.90 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 521.69 363.75 Td (exception ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 59.64 351.15 Td (market-based ) Tj ET Q
q 0 0 0 rg BT 117.60 351.15 Td (performance ) Tj ET Q
q 0 0 0 rg BT 172.04 351.15 Td (grants, ) Tj ET Q
q 0 0 0 rg BT 201.73 351.15 Td (which ) Tj ET Q
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q 0 0 0 rg BT 417.13 716.55 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 472.02 716.55 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 516.42 716.55 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 703.95 Td (products, ) Tj ET Q
q 0 0 0 rg BT 91.55 703.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 109.98 703.95 Td (vested ) Tj ET Q
q 0 0 0 rg BT 140.07 703.95 Td (af) Tj ET Q
q 0 0 0 rg BT 148.03 703.95 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 175.79 703.95 Td (management ) Tj ET Q
q 0 0 0 rg BT 232.70 703.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 262.21 703.95 Td (plan ) Tj ET Q
q 0 0 0 rg BT 283.55 703.95 Td (interests. ) Tj ET Q
q 0 0 0 rg BT 324.43 703.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 327.70 703.95 Td (For ) Tj ET Q
q 0 0 0 rg BT 345.55 703.95 Td (CIVs ) Tj ET Q
q 0 0 0 rg BT 370.98 703.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 389.41 703.95 Td (other ) Tj ET Q
q 0 0 0 rg BT 414.25 703.95 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 470.58 703.95 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 516.43 703.95 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 691.35 Td (products ) Tj ET Q
q 0 0 0 rg BT 87.82 691.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 108.65 691.35 Td (third-party ) Tj ET Q
q 0 0 0 rg BT 155.72 691.35 Td (investors, ) Tj ET Q
q 0 0 0 rg BT 198.42 691.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 213.41 691.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 244.13 691.35 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 308.12 691.35 Td (interests ) Tj ET Q
q 0 0 0 rg BT 345.27 691.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 360.25 691.35 Td (classified ) Tj ET Q
q 0 0 0 rg BT 402.07 691.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 412.98 691.35 Td (redeemable ) Tj ET Q
q 0 0 0 rg BT 463.52 691.35 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 527.51 691.35 Td (interests ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.75 Td (if ) Tj ET Q
q 0 0 0 rg BT 58.71 678.75 Td (investors ) Tj ET Q
q 0 0 0 rg BT 99.42 678.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 110.38 678.75 Td (these ) Tj ET Q
q 0 0 0 rg BT 134.75 678.75 Td (funds ) Tj ET Q
q 0 0 0 rg BT 160.88 678.75 Td (may ) Tj ET Q
q 0 0 0 rg BT 181.75 678.75 Td (request ) Tj ET Q
q 0 0 0 rg BT 214.87 678.75 Td (withdrawals ) Tj ET Q
q 0 0 0 rg BT 268.98 678.75 Td (at ) Tj ET Q
q 0 0 0 rg BT 279.36 678.75 Td (any ) Tj ET Q
q 0 0 0 rg BT 297.31 678.75 Td (time. ) Tj ET Q
q 0 0 0 rg BT 321.39 678.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 323.57 678.75 Td (Also ) Tj ET Q
q 0 0 0 rg BT 346.20 678.75 Td (included ) Tj ET Q
q 0 0 0 rg BT 385.15 678.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 396.11 678.75 Td (redeemable ) Tj ET Q
q 0 0 0 rg BT 447.29 678.75 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 511.92 678.75 Td (interests ) Tj ET Q
q 0 0 0 rg BT 549.70 678.75 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.15 Td (vested ) Tj ET Q
q 0 0 0 rg BT 79.57 666.15 Td (af) Tj ET Q
q 0 0 0 rg BT 87.54 666.15 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 115.27 666.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 172.15 666.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 201.64 666.15 Td (plan ) Tj ET Q
q 0 0 0 rg BT 222.96 666.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 241.37 666.15 Td (af) Tj ET Q
q 0 0 0 rg BT 249.33 666.15 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 277.06 666.15 Td (minority ) Tj ET Q
q 0 0 0 rg BT 316.47 666.15 Td (interests ) Tj ET Q
q 0 0 0 rg BT 354.71 666.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 370.20 666.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 399.10 666.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 415.17 666.15 Td (holder ) Tj ET Q
q 0 0 0 rg BT 445.24 666.15 Td (may) Tj ET Q
q 0 0 0 rg BT 462.63 666.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 468.50 666.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 479.32 666.15 Td (some ) Tj ET Q
q 0 0 0 rg BT 504.73 666.15 Td (point, ) Tj ET Q
q 0 0 0 rg BT 532.18 666.15 Td (request ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 653.55 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 95.36 653.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 106.81 653.55 Td (their ) Tj ET Q
q 0 0 0 rg BT 128.76 653.55 Td (interests. ) Tj ET Q
q 0 0 0 rg BT 169.08 653.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 171.79 653.55 Td (Redeemable ) Tj ET Q
q 0 0 0 rg BT 226.38 653.55 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 290.91 653.55 Td (interests ) Tj ET Q
q 0 0 0 rg BT 328.61 653.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 344.13 653.55 Td (reported ) Tj ET Q
q 0 0 0 rg BT 381.82 653.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 392.69 653.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 408.23 653.55 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 466.34 653.55 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 502.86 653.55 Td (Sheets ) Tj ET Q
q 0 0 0 rg BT 532.98 653.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 543.26 653.55 Td (their ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 640.95 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 93.90 640.95 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 141.22 640.95 Td (values. ) Tj ET Q
q 0 0 0 rg BT 174.83 640.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 179.00 640.95 Td (Changes ) Tj ET Q
q 0 0 0 rg BT 219.32 640.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 231.65 640.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 248.65 640.95 Td (expected ) Tj ET Q
q 0 0 0 rg BT 290.12 640.95 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 337.44 640.95 Td (values ) Tj ET Q
q 0 0 0 rg BT 368.43 640.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 385.41 640.95 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 435.63 640.95 Td (over ) Tj ET Q
q 0 0 0 rg BT 458.45 640.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 475.44 640.95 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 522.76 640.95 Td (period ) Tj ET Q
q 0 0 0 rg BT 553.75 640.95 Td (as ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.35 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 102.07 628.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 112.64 628.35 Td (retained ) Tj ET Q
q 0 0 0 rg BT 148.85 628.35 Td (earnings. ) Tj ET Q
q 0 0 0 rg BT 189.45 628.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 191.85 628.35 Td (Nonredeemable ) Tj ET Q
q 0 0 0 rg BT 260.72 628.35 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 324.95 628.35 Td (interests ) Tj ET Q
q 0 0 0 rg BT 362.34 628.35 Td (include ) Tj ET Q
q 0 0 0 rg BT 395.65 628.35 Td (vested ) Tj ET Q
q 0 0 0 rg BT 424.88 628.35 Td (af) Tj ET Q
q 0 0 0 rg BT 432.85 628.35 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 459.74 628.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 515.78 628.35 Td (equity ) Tj ET Q
q 0 0 0 rg BT 544.43 628.35 Td (plan ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.75 Td (interests ) Tj ET Q
q 0 0 0 rg BT 87.31 615.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 105.88 615.75 Td (do ) Tj ET Q
q 0 0 0 rg BT 119.20 615.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 135.44 615.75 Td (permit ) Tj ET Q
q 0 0 0 rg BT 165.67 615.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 181.31 615.75 Td (holder ) Tj ET Q
q 0 0 0 rg BT 210.96 615.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 221.94 615.75 Td (request ) Tj ET Q
q 0 0 0 rg BT 255.09 615.75 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 301.06 615.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 312.63 615.75 Td (their ) Tj ET Q
q 0 0 0 rg BT 334.69 615.75 Td (interests. ) Tj ET Q
q 0 0 0 rg BT 375.13 615.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 377.95 615.75 Td (Nonredeemable ) Tj ET Q
q 0 0 0 rg BT 447.24 615.75 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 511.88 615.75 Td (interests ) Tj ET Q
q 0 0 0 rg BT 549.70 615.75 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 603.15 Td (reported ) Tj ET Q
q 0 0 0 rg BT 87.88 603.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 99.44 603.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 115.67 603.15 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 174.48 603.15 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 211.69 603.15 Td (Sheets ) Tj ET Q
q 0 0 0 rg BT 242.50 603.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 253.47 603.15 Td (their ) Tj ET Q
q 0 0 0 rg BT 276.11 603.15 Td (issuance ) Tj ET Q
q 0 0 0 rg BT 315.08 603.15 Td (value, ) Tj ET Q
q 0 0 0 rg BT 343.84 603.15 Td (together ) Tj ET Q
q 0 0 0 rg BT 381.64 603.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 403.70 603.15 Td (undistributed ) Tj ET Q
q 0 0 0 rg BT 462.51 603.15 Td (net ) Tj ET Q
q 0 0 0 rg BT 478.74 603.15 Td (income ) Tj ET Q
q 0 0 0 rg BT 513.04 603.15 Td (allocated ) Tj ET Q
q 0 0 0 rg BT 554.33 603.15 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 113.95 590.55 Td (interests. ) Tj ET Q
q 0 0 0 rg BT 154.20 590.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 565.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 74.91 565.35 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 107.32 565.35 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 150.23 565.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 166.89 565.35 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 213.88 565.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 240.45 565.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 253.03 565.35 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 318.69 565.35 Td (interests ) Tj ET Q
q 0 0 0 rg BT 357.52 565.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 370.09 565.35 Td (their ) Tj ET Q
q 0 0 0 rg BT 393.17 565.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 411.57 565.35 Td (value. ) Tj ET Q
q 0 0 0 rg BT 440.77 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 444.60 565.35 Td (For ) Tj ET Q
q 0 0 0 rg BT 463.02 565.35 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 519.92 565.35 Td (sponsored ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (investment ) Tj ET Q
q 0 0 0 rg BT 98.70 552.75 Td (products, ) Tj ET Q
q 0 0 0 rg BT 140.61 552.75 Td (where ) Tj ET Q
q 0 0 0 rg BT 169.38 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 185.33 552.75 Td (investor ) Tj ET Q
q 0 0 0 rg BT 222.28 552.75 Td (may ) Tj ET Q
q 0 0 0 rg BT 243.48 552.75 Td (request ) Tj ET Q
q 0 0 0 rg BT 276.92 552.75 Td (withdrawal ) Tj ET Q
q 0 0 0 rg BT 327.28 552.75 Td (at ) Tj ET Q
q 0 0 0 rg BT 337.98 552.75 Td (any ) Tj ET Q
q 0 0 0 rg BT 356.26 552.75 Td (time, ) Tj ET Q
q 0 0 0 rg BT 380.67 552.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 398.36 552.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 424.22 552.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 434.34 552.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 461.37 552.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 474.99 552.75 Td (market ) Tj ET Q
q 0 0 0 rg BT 507.27 552.75 Td (quotes ) Tj ET Q
q 0 0 0 rg BT 537.80 552.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 549.67 552.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (underlying ) Tj ET Q
q 0 0 0 rg BT 97.97 540.15 Td (securities ) Tj ET Q
q 0 0 0 rg BT 140.59 540.15 Td (held ) Tj ET Q
q 0 0 0 rg BT 161.65 540.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 175.12 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 190.92 540.15 Td (investment ) Tj ET Q
q 0 0 0 rg BT 239.97 540.15 Td (products. ) Tj ET Q
q 0 0 0 rg BT 281.73 540.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 284.71 540.15 Td (For ) Tj ET Q
q 0 0 0 rg BT 302.27 540.15 Td (af) Tj ET Q
q 0 0 0 rg BT 310.23 540.15 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 337.69 540.15 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 402.50 540.15 Td (interests ) Tj ET Q
q 0 0 0 rg BT 440.46 540.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 458.60 540.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 515.21 540.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 544.43 540.15 Td (plan ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (interests, ) Tj ET Q
q 0 0 0 rg BT 89.84 527.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 107.14 527.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 132.60 527.55 Td (reflects ) Tj ET Q
q 0 0 0 rg BT 166.23 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 181.78 527.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 213.07 527.55 Td (total ) Tj ET Q
q 0 0 0 rg BT 234.46 527.55 Td (business ) Tj ET Q
q 0 0 0 rg BT 272.77 527.55 Td (enterprise ) Tj ET Q
q 0 0 0 rg BT 316.89 527.55 Td (value, ) Tj ET Q
q 0 0 0 rg BT 344.98 527.55 Td (after ) Tj ET Q
q 0 0 0 rg BT 366.94 527.55 Td (appropriate ) Tj ET Q
q 0 0 0 rg BT 417.47 527.55 Td (discounts ) Tj ET Q
q 0 0 0 rg BT 459.86 527.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 474.83 527.55 Td (lack ) Tj ET Q
q 0 0 0 rg BT 495.05 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 506.52 527.55 Td (marketability ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.32 514.95 Td (control. ) Tj ET Q
q 0 0 0 rg BT 102.34 514.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 104.80 514.95 Td (There ) Tj ET Q
q 0 0 0 rg BT 131.94 514.95 Td (may ) Tj ET Q
q 0 0 0 rg BT 152.67 514.95 Td (also ) Tj ET Q
q 0 0 0 rg BT 172.25 514.95 Td (be ) Tj ET Q
q 0 0 0 rg BT 184.81 514.95 Td (features ) Tj ET Q
q 0 0 0 rg BT 220.70 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 232.10 514.95 Td (these ) Tj ET Q
q 0 0 0 rg BT 256.33 514.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 285.23 514.95 Td (interests, ) Tj ET Q
q 0 0 0 rg BT 325.50 514.95 Td (such ) Tj ET Q
q 0 0 0 rg BT 347.41 514.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 358.81 514.95 Td (dividend ) Tj ET Q
q 0 0 0 rg BT 398.21 514.95 Td (subordination, ) Tj ET Q
q 0 0 0 rg BT 461.24 514.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 479.64 514.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 495.11 514.95 Td (contemplated ) Tj ET Q
q 0 0 0 rg BT 554.33 514.95 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.35 Td (their ) Tj ET Q
q 0 0 0 rg BT 71.06 502.35 Td (valuations. ) Tj ET Q
q 0 0 0 rg BT 119.15 502.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 121.30 502.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 139.94 502.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 156.82 502.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 181.88 502.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 192.94 502.35 Td (option-like ) Tj ET Q
q 0 0 0 rg BT 241.33 502.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 297.29 502.35 Td (equity ) Tj ET Q
q 0 0 0 rg BT 325.84 502.35 Td (plan ) Tj ET Q
q 0 0 0 rg BT 346.24 502.35 Td (interests ) Tj ET Q
q 0 0 0 rg BT 383.54 502.35 Td (also ) Tj ET Q
q 0 0 0 rg BT 402.77 502.35 Td (relies ) Tj ET Q
q 0 0 0 rg BT 427.82 502.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 440.64 502.35 Td (Black-Scholes ) Tj ET Q
q 0 0 0 rg BT 503.60 502.35 Td (option ) Tj ET Q
q 0 0 0 rg BT 532.75 502.35 Td (pricing ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 489.75 Td (model ) Tj ET Q
q 0 0 0 rg BT 78.31 489.75 Td (calculations. ) Tj ET Q
q 0 0 0 rg BT 133.64 489.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 136.20 489.75 Td (For ) Tj ET Q
q 0 0 0 rg BT 153.35 489.75 Td (af) Tj ET Q
q 0 0 0 rg BT 161.32 489.75 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 188.37 489.75 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 252.75 489.75 Td (interests, ) Tj ET Q
q 0 0 0 rg BT 292.93 489.75 Td (subsequent ) Tj ET Q
q 0 0 0 rg BT 342.16 489.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 352.89 489.75 Td (acquisition, ) Tj ET Q
q 0 0 0 rg BT 404.15 489.75 Td (business ) Tj ET Q
q 0 0 0 rg BT 442.30 489.75 Td (enterprise ) Tj ET Q
q 0 0 0 rg BT 486.25 489.75 Td (values ) Tj ET Q
q 0 0 0 rg BT 515.64 489.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 531.02 489.75 Td (derived ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 477.15 Td (using ) Tj ET Q
q 0 0 0 rg BT 73.88 477.15 Td (various ) Tj ET Q
q 0 0 0 rg BT 106.42 477.15 Td (methods, ) Tj ET Q
q 0 0 0 rg BT 146.26 477.15 Td (including ) Tj ET Q
q 0 0 0 rg BT 187.55 477.15 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 234.67 477.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 254.95 477.15 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 282.54 477.15 Td (guideline ) Tj ET Q
q 0 0 0 rg BT 323.24 477.15 Td (public ) Tj ET Q
q 0 0 0 rg BT 351.11 477.15 Td (company ) Tj ET Q
q 0 0 0 rg BT 391.23 477.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 408.02 477.15 Td (guideline ) Tj ET Q
q 0 0 0 rg BT 448.72 477.15 Td (public ) Tj ET Q
q 0 0 0 rg BT 476.60 477.15 Td (transaction ) Tj ET Q
q 0 0 0 rg BT 524.29 477.15 Td (methods. ) Tj ET Q
q 0 0 0 rg BT 565.12 477.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 464.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 74.42 464.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 106.35 464.55 Td (may ) Tj ET Q
q 0 0 0 rg BT 127.77 464.55 Td (engage ) Tj ET Q
q 0 0 0 rg BT 160.85 464.55 Td (third-party ) Tj ET Q
q 0 0 0 rg BT 209.09 464.55 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 251.51 464.55 Td (experts ) Tj ET Q
q 0 0 0 rg BT 285.18 464.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 296.69 464.55 Td (perform ) Tj ET Q
q 0 0 0 rg BT 333.85 464.55 Td (independent ) Tj ET Q
q 0 0 0 rg BT 388.51 464.55 Td (determinations ) Tj ET Q
q 0 0 0 rg BT 454.26 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 466.35 464.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 484.26 464.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 510.35 464.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 522.44 464.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 533.95 464.55 Td (review ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 451.95 Td (internally ) Tj ET Q
q 0 0 0 rg BT 91.33 451.95 Td (prepared ) Tj ET Q
q 0 0 0 rg BT 129.66 451.95 Td (valuations, ) Tj ET Q
q 0 0 0 rg BT 177.04 451.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 187.38 451.95 Td (appropriate, ) Tj ET Q
q 0 0 0 rg BT 239.42 451.95 Td (based ) Tj ET Q
q 0 0 0 rg BT 264.92 451.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 277.02 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 291.44 451.95 Td (relative ) Tj ET Q
q 0 0 0 rg BT 324.52 451.95 Td (significance ) Tj ET Q
q 0 0 0 rg BT 376.85 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 387.19 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 401.62 451.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 431.78 451.95 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 468.96 451.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 485.71 451.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 515.87 451.95 Td (contractual ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 439.35 Td (provisions ) Tj ET Q
q 0 0 0 rg BT 95.88 439.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 113.67 439.35 Td (changes ) Tj ET Q
q 0 0 0 rg BT 150.11 439.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 160.90 439.35 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 202.60 439.35 Td (inputs.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 414.15 Td (Net ) Tj ET Q
q 0 0 0 rg BT 66.62 414.15 Td (income ) Tj ET Q
q 0 0 0 rg BT 99.48 414.15 Td (\(loss\) ) Tj ET Q
q 0 0 0 rg BT 124.76 414.15 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 174.54 414.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 184.66 414.15 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 248.44 414.15 Td (interests ) Tj ET Q
q 0 0 0 rg BT 285.39 414.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 295.51 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 310.29 414.15 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 367.66 414.15 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 415.69 414.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 426.39 414.15 Td (Income ) Tj ET Q
q 0 0 0 rg BT 459.83 414.15 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 488.62 414.15 Td (includes ) Tj ET Q
q 0 0 0 rg BT 525.57 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 540.35 414.15 Td (share ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 401.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.87 401.55 Td (net ) Tj ET Q
q 0 0 0 rg BT 76.32 401.55 Td (income ) Tj ET Q
q 0 0 0 rg BT 109.86 401.55 Td (\(loss\) ) Tj ET Q
q 0 0 0 rg BT 135.81 401.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 147.19 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 162.64 401.55 Td (respective ) Tj ET Q
q 0 0 0 rg BT 207.82 401.55 Td (subsidiary ) Tj ET Q
q 0 0 0 rg BT 253.61 401.55 Td (allocated ) Tj ET Q
q 0 0 0 rg BT 294.13 401.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 304.93 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 320.38 401.55 Td (minority ) Tj ET Q
q 0 0 0 rg BT 359.17 401.55 Td (interest ) Tj ET Q
q 0 0 0 rg BT 392.70 401.55 Td (holders.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 376.35 Td (See ) Tj ET Q
q 0 0 0 rg BT 67.29 376.35 Td (Note ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 90.32 376.35 Td (14) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 100.82 376.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 103.45 376.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 118.32 376.35 Td (additional ) Tj ET Q
q 0 0 0 rg BT 162.93 376.35 Td (information ) Tj ET Q
q 0 0 0 rg BT 215.13 376.35 Td (regarding ) Tj ET Q
q 0 0 0 rg BT 257.99 376.35 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 322.44 376.35 Td (interests.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 351.15 Td (Related Parties) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 338.55 Td (For ) Tj ET Q
q 0 0 0 rg BT 66.28 338.55 Td (its ) Tj ET Q
q 0 0 0 rg BT 78.39 338.55 Td (services ) Tj ET Q
q 0 0 0 rg BT 114.41 338.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 124.77 338.55 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 169.54 338.55 Td (investment ) Tj ET Q
q 0 0 0 rg BT 217.81 338.55 Td (funds, ) Tj ET Q
q 0 0 0 rg BT 245.96 338.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 269.73 338.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 300.50 338.55 Td (earns ) Tj ET Q
q 0 0 0 rg BT 324.85 338.55 Td (management ) Tj ET Q
q 0 0 0 rg BT 380.69 338.55 Td (fees, ) Tj ET Q
q 0 0 0 rg BT 402.41 338.55 Td (incentive ) Tj ET Q
q 0 0 0 rg BT 443.09 338.55 Td (fees, ) Tj ET Q
q 0 0 0 rg BT 464.81 338.55 Td (distribution ) Tj ET Q
q 0 0 0 rg BT 515.42 338.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 532.78 338.55 Td (service ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 325.95 Td (fees, ) Tj ET Q
q 0 0 0 rg BT 70.97 325.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 88.08 325.95 Td (other ) Tj ET Q
q 0 0 0 rg BT 111.59 325.95 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 146.77 325.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 163.87 325.95 Td (incurs ) Tj ET Q
q 0 0 0 rg BT 191.48 325.95 Td (distribution ) Tj ET Q
q 0 0 0 rg BT 241.84 325.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 258.94 325.95 Td (servicing ) Tj ET Q
q 0 0 0 rg BT 299.38 325.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 316.48 325.95 Td (other ) Tj ET Q
q 0 0 0 rg BT 340.00 325.95 Td (expenses, ) Tj ET Q
q 0 0 0 rg BT 382.47 325.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 393.16 325.95 Td (disclosed ) Tj ET Q
q 0 0 0 rg BT 434.18 325.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 444.29 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 459.07 325.95 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 516.42 325.95 Td (Statements ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.70 313.35 Td (Income ) Tj ET Q
q 0 0 0 rg BT 96.64 313.35 Td (\(Loss\). ) Tj ET Q
q 0 0 0 rg BT 129.54 313.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 132.99 313.35 Td (Sponsored ) Tj ET Q
q 0 0 0 rg BT 180.78 313.35 Td (investment ) Tj ET Q
q 0 0 0 rg BT 230.31 313.35 Td (funds ) Tj ET Q
q 0 0 0 rg BT 257.09 313.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 273.36 313.35 Td (deemed ) Tj ET Q
q 0 0 0 rg BT 309.46 313.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 321.08 313.35 Td (be ) Tj ET Q
q 0 0 0 rg BT 334.44 313.35 Td (af) Tj ET Q
q 0 0 0 rg BT 342.41 313.35 Td (filiated ) Tj ET Q
q 0 0 0 rg BT 375.60 313.35 Td (entities ) Tj ET Q
q 0 0 0 rg BT 409.38 313.35 Td (under ) Tj ET Q
q 0 0 0 rg BT 436.74 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 453.02 313.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 485.04 313.35 Td (party ) Tj ET Q
q 0 0 0 rg BT 510.06 313.35 Td (definition ) Tj ET Q
q 0 0 0 rg BT 554.34 313.35 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 300.75 Td (relevant ) Tj ET Q
q 0 0 0 rg BT 85.94 300.75 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 134.63 300.75 Td (guidance.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 275.55 Td (Recent ) Tj ET Q
q 0 0 0 rg BT 82.45 275.55 Td (Accounting Developments) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 262.95 Td (In ) Tj ET Q
q 0 0 0 rg BT 60.74 262.95 Td (August ) Tj ET Q
q 0 0 0 rg BT 94.27 262.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 121.09 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 137.11 262.95 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 178.68 262.95 Td (Accounting ) Tj ET Q
q 0 0 0 rg BT 230.86 262.95 Td (Standards ) Tj ET Q
q 0 0 0 rg BT 275.47 262.95 Td (Board ) Tj ET Q
q 0 0 0 rg BT 304.32 262.95 Td (\("F) Tj ET Q
q 0 0 0 rg BT 317.17 262.95 Td (ASB"\) ) Tj ET Q
q 0 0 0 rg BT 348.57 262.95 Td (updated ) Tj ET Q
q 0 0 0 rg BT 385.01 262.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 401.03 262.95 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 442.12 262.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 455.82 262.95 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 505.08 262.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 520.52 262.95 Td (derivative ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 250.35 Td (hedging. ) Tj ET Q
q 0 0 0 rg BT 88.73 250.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 91.31 250.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 110.41 250.35 Td (updated ) Tj ET Q
q 0 0 0 rg BT 146.43 250.35 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 187.10 250.35 Td (more ) Tj ET Q
q 0 0 0 rg BT 211.45 250.35 Td (closely ) Tj ET Q
q 0 0 0 rg BT 243.97 250.35 Td (aligns ) Tj ET Q
q 0 0 0 rg BT 271.83 250.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 287.44 250.35 Td (results ) Tj ET Q
q 0 0 0 rg BT 317.63 250.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 329.16 250.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 350.59 250.35 Td (flow ) Tj ET Q
q 0 0 0 rg BT 372.62 250.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 390.55 250.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 407.90 250.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 433.42 250.35 Td (hedging ) Tj ET Q
q 0 0 0 rg BT 470.02 250.35 Td (designations ) Tj ET Q
q 0 0 0 rg BT 525.30 250.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 546.74 250.35 Td (risk ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 237.75 Td (management ) Tj ET Q
q 0 0 0 rg BT 108.42 237.75 Td (activities ) Tj ET Q
q 0 0 0 rg BT 151.61 237.75 Td (through ) Tj ET Q
q 0 0 0 rg BT 189.55 237.75 Td (changes ) Tj ET Q
q 0 0 0 rg BT 228.65 237.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 242.09 237.75 Td (both ) Tj ET Q
q 0 0 0 rg BT 266.04 237.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 284.15 237.75 Td (designation ) Tj ET Q
q 0 0 0 rg BT 337.84 237.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 358.28 237.75 Td (measurement ) Tj ET Q
q 0 0 0 rg BT 419.53 237.75 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 462.71 237.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 480.23 237.75 Td (qualifying ) Tj ET Q
q 0 0 0 rg BT 528.67 237.75 Td (hedging ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 225.15 Td (relationships ) Tj ET Q
q 0 0 0 rg BT 107.47 225.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 126.94 225.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 144.07 225.15 Td (presentation ) Tj ET Q
q 0 0 0 rg BT 199.70 225.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 212.75 225.15 Td (hedge ) Tj ET Q
q 0 0 0 rg BT 242.13 225.15 Td (results ) Tj ET Q
q 0 0 0 rg BT 273.86 225.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 286.33 225.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 303.47 225.15 Td (financial ) Tj ET Q
q 0 0 0 rg BT 344.51 225.15 Td (statements.� ) Tj ET Q
q 0 0 0 rg BT 398.08 225.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 418.71 225.15 Td (new ) Tj ET Q
q 0 0 0 rg BT 440.51 225.15 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 482.72 225.15 Td (also ) Tj ET Q
q 0 0 0 rg BT 503.94 225.15 Td (simplifies ) Tj ET Q
q 0 0 0 rg BT 549.67 225.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 212.55 Td (application ) Tj ET Q
q 0 0 0 rg BT 98.81 212.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 110.21 212.55 Td (hedge ) Tj ET Q
q 0 0 0 rg BT 137.93 212.55 Td (accounting.� ) Tj ET Q
q 0 0 0 rg BT 191.71 212.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 210.69 212.55 Td (updated ) Tj ET Q
q 0 0 0 rg BT 246.58 212.55 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 287.14 212.55 Td (is ) Tj ET Q
q 0 0 0 rg BT 296.80 212.55 Td (ef) Tj ET Q
q 0 0 0 rg BT 304.76 212.55 Td (fective ) Tj ET Q
q 0 0 0 rg BT 335.98 212.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 350.88 212.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 375.11 212.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 406.35 212.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 417.17 212.55 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 442.56 212.55 Td (2020, ) Tj ET Q
q 0 0 0 rg BT 468.84 212.55 Td (unless ) Tj ET Q
q 0 0 0 rg BT 497.75 212.55 Td (adopted ) Tj ET Q
q 0 0 0 rg BT 533.64 212.55 Td (earlier) Tj ET Q
q 0 0 0 rg BT 559.87 212.55 Td (.� ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 199.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 74.44 199.95 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 106.40 199.95 Td (uses ) Tj ET Q
q 0 0 0 rg BT 127.85 199.95 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 177.29 199.95 Td (hedge ) Tj ET Q
q 0 0 0 rg BT 205.73 199.95 Td (designation ) Tj ET Q
q 0 0 0 rg BT 257.51 199.95 Td (from ) Tj ET Q
q 0 0 0 rg BT 281.29 199.95 Td (time-to-time ) Tj ET Q
q 0 0 0 rg BT 337.14 199.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 355.67 199.95 Td (would ) Tj ET Q
q 0 0 0 rg BT 385.29 199.95 Td (only ) Tj ET Q
q 0 0 0 rg BT 407.33 199.95 Td (potentially ) Tj ET Q
q 0 0 0 rg BT 455.61 199.95 Td (be ) Tj ET Q
q 0 0 0 rg BT 468.89 199.95 Td (impacted ) Tj ET Q
q 0 0 0 rg BT 510.74 199.95 Td (if ) Tj ET Q
q 0 0 0 rg BT 520.53 199.95 Td (derivative ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 187.35 Td (transactions ) Tj ET Q
q 0 0 0 rg BT 102.28 187.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 125.30 187.35 Td (designated ) Tj ET Q
q 0 0 0 rg BT 172.83 187.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 187.70 187.35 Td (hedging.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 162.15 Td (In ) Tj ET Q
q 0 0 0 rg BT 60.96 162.15 Td (January ) Tj ET Q
q 0 0 0 rg BT 96.32 162.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 122.65 162.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 138.19 162.15 Td (F) Tj ET Q
q 0 0 0 rg BT 143.25 162.15 Td (ASB ) Tj ET Q
q 0 0 0 rg BT 166.39 162.15 Td (updated ) Tj ET Q
q 0 0 0 rg BT 202.34 162.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 217.87 162.15 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 258.48 162.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 269.36 162.15 Td (simplify ) Tj ET Q
q 0 0 0 rg BT 307.07 162.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 322.61 162.15 Td (test ) Tj ET Q
q 0 0 0 rg BT 339.90 162.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 354.85 162.15 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 394.90 162.15 Td (impairment. ) Tj ET Q
q 0 0 0 rg BT 448.64 162.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 451.15 162.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 470.19 162.15 Td (updated ) Tj ET Q
q 0 0 0 rg BT 506.14 162.15 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 546.74 162.15 Td (still ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 149.55 Td (requires ) Tj ET Q
q 0 0 0 rg BT 85.61 149.55 Td (entities ) Tj ET Q
q 0 0 0 rg BT 118.23 149.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 128.69 149.55 Td (perform ) Tj ET Q
q 0 0 0 rg BT 164.80 149.55 Td (annual ) Tj ET Q
q 0 0 0 rg BT 195.08 149.55 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 234.71 149.55 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 285.40 149.55 Td (tests ) Tj ET Q
q 0 0 0 rg BT 306.37 149.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 319.16 149.55 Td (comparing ) Tj ET Q
q 0 0 0 rg BT 366.35 149.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 381.47 149.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 398.34 149.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 423.37 149.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 434.40 149.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 441.36 149.55 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 482.14 149.55 Td (unit ) Tj ET Q
q 0 0 0 rg BT 500.77 149.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 521.73 149.55 Td (its ) Tj ET Q
q 0 0 0 rg BT 533.94 149.55 Td (related ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 136.95 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 87.37 136.95 Td (amount, ) Tj ET Q
q 0 0 0 rg BT 124.38 136.95 Td (but ) Tj ET Q
q 0 0 0 rg BT 140.69 136.95 Td (it ) Tj ET Q
q 0 0 0 rg BT 149.41 136.95 Td (eliminates ) Tj ET Q
q 0 0 0 rg BT 195.46 136.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 211.17 136.95 Td (requirement ) Tj ET Q
q 0 0 0 rg BT 264.79 136.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 275.85 136.95 Td (potentially ) Tj ET Q
q 0 0 0 rg BT 323.65 136.95 Td (calculate ) Tj ET Q
q 0 0 0 rg BT 363.84 136.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 379.56 136.95 Td (implied ) Tj ET Q
q 0 0 0 rg BT 414.53 136.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 431.99 136.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 457.62 136.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 469.25 136.95 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 509.48 136.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 520.53 136.95 Td (determine ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 124.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.42 124.35 Td (amount ) Tj ET Q
q 0 0 0 rg BT 98.01 124.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 108.85 124.35 Td (impairment, ) Tj ET Q
q 0 0 0 rg BT 161.97 124.35 Td (if ) Tj ET Q
q 0 0 0 rg BT 170.47 124.35 Td (any) Tj ET Q
q 0 0 0 rg BT 184.95 124.35 Td (. ) Tj ET Q
q 0 0 0 rg BT 189.67 124.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 191.76 124.35 Td (Under ) Tj ET Q
q 0 0 0 rg BT 220.09 124.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 235.01 124.35 Td (new ) Tj ET Q
q 0 0 0 rg BT 254.60 124.35 Td (guidance, ) Tj ET Q
q 0 0 0 rg BT 297.21 124.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 309.22 124.35 Td (entity ) Tj ET Q
q 0 0 0 rg BT 335.22 124.35 Td (should ) Tj ET Q
q 0 0 0 rg BT 365.32 124.35 Td (recognize ) Tj ET Q
q 0 0 0 rg BT 408.22 124.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 420.22 124.35 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 470.72 124.35 Td (char) Tj ET Q
q 0 0 0 rg BT 488.59 124.35 Td (ge ) Tj ET Q
q 0 0 0 rg BT 500.60 124.35 Td (if ) Tj ET Q
q 0 0 0 rg BT 509.10 124.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 524.02 124.35 Td (reporting ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 74.26 111.75 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 111.68 111.75 Td (amount ) Tj ET Q
q 0 0 0 rg BT 145.62 111.75 Td (exceeds ) Tj ET Q
q 0 0 0 rg BT 181.30 111.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 196.57 111.75 Td (reporting ) Tj ET Q
q 0 0 0 rg BT 237.50 111.75 Td (unit�) Tj ET Q
q 0 0 0 rg BT 256.76 111.75 Td (s ) Tj ET Q
q 0 0 0 rg BT 263.29 111.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 280.30 111.75 Td (value, ) Tj ET Q
q 0 0 0 rg BT 308.11 111.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 318.72 111.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 333.99 111.75 Td (amount ) Tj ET Q
q 0 0 0 rg BT 367.93 111.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 379.13 111.75 Td (such ) Tj ET Q
q 0 0 0 rg BT 400.82 111.75 Td (excess.� ) Tj ET Q
q 0 0 0 rg BT 435.74 111.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 454.51 111.75 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 494.85 111.75 Td (will ) Tj ET Q
q 0 0 0 rg BT 513.63 111.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 525.99 111.75 Td (ef) Tj ET Q
q 0 0 0 rg BT 533.95 111.75 Td (fective ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 99.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.29 99.15 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 85.66 99.15 Td (2020. ) Tj ET Q
q 0 0 0 rg BT 111.91 99.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 136.11 99.15 Td (Mason ) Tj ET Q
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q 0 0 0 rg BT 168.59 653.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 189.87 653.55 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 218.46 653.55 Td (projected ) Tj ET Q
q 0 0 0 rg BT 259.57 653.55 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 286.69 653.55 Td (growth ) Tj ET Q
q 0 0 0 rg BT 319.07 653.55 Td (rates ) Tj ET Q
q 0 0 0 rg BT 341.51 653.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 359.30 653.55 Td (discount ) Tj ET Q
q 0 0 0 rg BT 397.50 653.55 Td (rates, ) Tj ET Q
q 0 0 0 rg BT 422.58 653.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 438.02 653.55 Td (summarized ) Tj ET Q
q 0 0 0 rg BT 491.96 653.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 503.33 653.55 Td (follows: ) Tj ET Q
q 0 0 0 rg BT 540.38 653.55 Td ( ) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
51.50 628.05 224.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.50 628.05 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.50 628.05 202.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
481.50 628.05 8.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
489.50 628.05 74.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
51.50 587.05 224.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.50 587.05 4.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.50 587.05 202.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
481.50 587.05 8.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
489.50 587.05 74.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
51.50 583.05 224.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.50 583.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.50 583.05 202.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
481.50 583.05 8.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
489.50 583.05 74.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279.5 628.05 m
481.5 628.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489.5 628.05 m
563.5 628.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279.5 568.05 m
481.5 568.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489.5 568.05 m
563.5 568.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279.5 568.05 m
481.5 568.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489.5 568.05 m
563.5 568.05 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 318.90 632.82 Td (Projected Cash Flow Growth) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.10 632.82 Td (Discount Rate) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 617.32 Td (Indefinite-life intangible fund management) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 606.82 Td (contracts) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 303.90 606.82 Td (\(1\)% to 5% \(weighted-average: 4%\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 512.40 606.82 Td (14.5%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 592.27 Td (Indefinite-life trade name) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 304.75 591.82 Td (6% to 14% \(weighted-average: 6%\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 512.40 591.82 Td (14.5%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 303.85 572.82 Td (Projected ) Tj ET Q
q 0 0 0 rg BT 345.84 572.82 Td (AUM Growth / \(Attrition\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.10 572.82 Td (Discount Rate) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 557.82 Td (Amortizable intangible asset management contracts) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 353.15 557.82 Td (10% / \(13\)%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 512.40 557.82 Td (13.5%) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 528.35 Td (After ) Tj ET Q
q 0 0 0 rg BT 77.93 528.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 92.53 528.35 Td (completion ) Tj ET Q
q 0 0 0 rg BT 141.54 528.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 152.06 528.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 166.66 528.35 Td (annual ) Tj ET Q
q 0 0 0 rg BT 196.42 528.35 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 246.60 528.35 Td (testing ) Tj ET Q
q 0 0 0 rg BT 276.37 528.35 Td (process ) Tj ET Q
q 0 0 0 rg BT 309.63 528.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 319.57 528.35 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 344.09 528.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 369.48 528.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 384.08 528.35 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 443.58 528.35 Td (funds ) Tj ET Q
q 0 0 0 rg BT 468.69 528.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 524.11 528.35 Td (contracts ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 515.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 76.73 515.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 107.62 515.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 118.11 515.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 133.26 515.75 Td (EnT) Tj ET Q
q 0 0 0 rg BT 150.97 515.75 Td (rust ) Tj ET Q
q 0 0 0 rg BT 169.04 515.75 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 217.44 515.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 236.10 515.75 Td (combined ) Tj ET Q
q 0 0 0 rg BT 279.83 515.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 300.82 515.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 315.97 515.75 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 376.02 515.75 Td (funds-of-hedge ) Tj ET Q
q 0 0 0 rg BT 442.48 515.75 Td (funds ) Tj ET Q
q 0 0 0 rg BT 468.14 515.75 Td (management ) Tj ET Q
q 0 0 0 rg BT 524.11 515.75 Td (contracts ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 503.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 76.98 503.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 108.12 503.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 118.86 503.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 134.26 503.15 Td (legacy ) Tj ET Q
q 0 0 0 rg BT 164.23 503.15 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 196.54 503.15 Td (business. ) Tj ET Q
q 0 0 0 rg BT 237.32 503.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 239.90 503.15 Td (In ) Tj ET Q
q 0 0 0 rg BT 251.21 503.15 Td (connection ) Tj ET Q
q 0 0 0 rg BT 299.85 503.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 321.09 503.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 345.24 503.15 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 382.37 503.15 Td (annual ) Tj ET Q
q 0 0 0 rg BT 412.93 503.15 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 463.91 503.15 Td (testing ) Tj ET Q
q 0 0 0 rg BT 494.48 503.15 Td (process ) Tj ET Q
q 0 0 0 rg BT 528.54 503.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 539.28 503.15 Td (fiscal ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 490.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 79.77 490.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 94.75 490.55 Td (combined ) Tj ET Q
q 0 0 0 rg BT 138.30 490.55 Td (EnT) Tj ET Q
q 0 0 0 rg BT 156.01 490.55 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 203.65 490.55 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 263.52 490.55 Td (funds ) Tj ET Q
q 0 0 0 rg BT 289.00 490.55 Td (management ) Tj ET Q
q 0 0 0 rg BT 344.79 490.55 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 384.84 490.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 407.40 490.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 425.88 490.55 Td (impaired ) Tj ET Q
q 0 0 0 rg BT 465.34 490.55 Td (by ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 477.99 490.55 Td ($195,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 517.37 490.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 522.14 490.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 524.29 490.55 Td (See ) Tj ET Q
q 0 0 0 rg BT 541.59 490.55 Td (Note ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 477.95 Td (5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 59.25 477.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 61.88 477.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 76.74 477.95 Td (additional ) Tj ET Q
q 0 0 0 rg BT 121.36 477.95 Td (information.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 452.75 Td (Costs ) Tj ET Q
q 0 0 0 rg BT 80.36 452.75 Td (incurred ) Tj ET Q
q 0 0 0 rg BT 118.37 452.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 129.55 452.75 Td (connection ) Tj ET Q
q 0 0 0 rg BT 178.64 452.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 200.33 452.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 216.18 452.75 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 265.27 452.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 277.04 452.75 Td (EnT) Tj ET Q
q 0 0 0 rg BT 294.75 452.75 Td (rust ) Tj ET Q
q 0 0 0 rg BT 313.52 452.75 Td (were ) Tj ET Q
q 0 0 0 rg BT 336.94 452.75 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 342.19 452.75 Td (7,046) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 365.82 452.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 368.84 452.75 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 387.02 452.75 Td ($3,492) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 415.89 452.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 418.91 452.75 Td (during ) Tj ET Q
q 0 0 0 rg BT 449.35 452.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 465.19 452.75 Td (years ) Tj ET Q
q 0 0 0 rg BT 490.37 452.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 518.46 452.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 548.88 452.75 Td (31, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 440.15 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 77.63 440.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 95.41 440.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 121.66 440.15 Td (respectively) Tj ET Q
q 0 0 0 rg BT 171.71 440.15 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 414.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 72.28 414.95 Td (financial ) Tj ET Q
q 0 0 0 rg BT 110.98 414.95 Td (results ) Tj ET Q
q 0 0 0 rg BT 140.35 414.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 151.06 414.95 Td (EnT) Tj ET Q
q 0 0 0 rg BT 168.77 414.95 Td (rust ) Tj ET Q
q 0 0 0 rg BT 186.48 414.95 Td (included ) Tj ET Q
q 0 0 0 rg BT 224.59 414.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 234.72 414.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 258.25 414.95 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 294.78 414.95 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 349.81 414.95 Td (financial ) Tj ET Q
q 0 0 0 rg BT 388.50 414.95 Td (results ) Tj ET Q
q 0 0 0 rg BT 417.87 414.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 432.08 414.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 446.86 414.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 466.89 414.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 493.92 414.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 523.29 414.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 538.37 414.95 Td (2017, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 402.35 Td (included ) Tj ET Q
q 0 0 0 rg BT 92.59 402.35 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 132.33 402.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 143.51 402.35 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 148.76 402.35 Td (1) Tj ET Q
q 0 0 0 rg BT 153.62 402.35 Td (15,327) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 182.50 402.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 184.93 402.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 202.52 402.35 Td (did ) Tj ET Q
q 0 0 0 rg BT 218.37 402.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 234.22 402.35 Td (have ) Tj ET Q
q 0 0 0 rg BT 256.47 402.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 263.57 402.35 Td (material ) Tj ET Q
q 0 0 0 rg BT 300.40 402.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 331.40 402.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 344.33 402.35 Td (Net ) Tj ET Q
q 0 0 0 rg BT 361.93 402.35 Td (Income ) Tj ET Q
q 0 0 0 rg BT 395.84 402.35 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 424.57 402.35 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 477.74 402.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 488.34 402.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 512.34 402.35 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 545.98 402.35 Td (Inc.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 377.15 Td (In ) Tj ET Q
q 0 0 0 rg BT 64.10 377.15 Td (connection ) Tj ET Q
q 0 0 0 rg BT 111.53 377.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 131.55 377.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 145.74 377.15 Td (combination ) Tj ET Q
q 0 0 0 rg BT 199.59 377.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 209.69 377.15 Td (EnT) Tj ET Q
q 0 0 0 rg BT 227.40 377.15 Td (rust ) Tj ET Q
q 0 0 0 rg BT 244.51 377.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 261.03 377.15 Td (Permal, ) Tj ET Q
q 0 0 0 rg BT 294.75 377.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 317.68 377.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 347.63 377.15 Td (incurred ) Tj ET Q
q 0 0 0 rg BT 383.96 377.15 Td (total ) Tj ET Q
q 0 0 0 rg BT 403.98 377.15 Td (char) Tj ET Q
q 0 0 0 rg BT 421.86 377.15 Td (ges ) Tj ET Q
q 0 0 0 rg BT 437.22 377.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 450.82 377.15 Td (restructuring ) Tj ET Q
q 0 0 0 rg BT 505.83 377.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 522.34 377.15 Td (transition ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 364.55 Td (costs ) Tj ET Q
q 0 0 0 rg BT 76.95 364.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 87.64 364.55 Td ($92,130) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 121.76 364.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 123.71 364.55 Td (through ) Tj ET Q
q 0 0 0 rg BT 158.32 364.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 187.67 364.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 202.74 364.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 228.31 364.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 255.92 364.55 Td (includes) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 290.91 364.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 292.76 364.55 Td ($7,049) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 321.64 364.55 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 326.21 364.55 Td ($41,785) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 360.33 364.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 364.91 364.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 382.01 364.55 Td ($43,296) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 416.14 364.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 420.71 364.55 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 468.71 364.55 Td (during ) Tj ET Q
q 0 0 0 rg BT 498.07 364.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 512.84 364.55 Td (years ) Tj ET Q
q 0 0 0 rg BT 536.94 364.55 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 351.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 83.61 351.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 98.95 351.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 124.78 351.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 150.62 351.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 167.99 351.95 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 193.82 351.95 Td (respectively) Tj ET Q
q 0 0 0 rg BT 243.87 351.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 248.71 351.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 250.76 351.95 Td (These ) Tj ET Q
q 0 0 0 rg BT 278.04 351.95 Td (costs ) Tj ET Q
q 0 0 0 rg BT 301.25 351.95 Td (were ) Tj ET Q
q 0 0 0 rg BT 323.86 351.95 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 365.14 351.95 Td (comprised ) Tj ET Q
q 0 0 0 rg BT 411.09 351.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 422.05 351.95 Td (char) Tj ET Q
q 0 0 0 rg BT 439.93 351.95 Td (ges ) Tj ET Q
q 0 0 0 rg BT 456.13 351.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 470.59 351.95 Td (employee ) Tj ET Q
q 0 0 0 rg BT 513.61 351.95 Td (termination ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 339.35 Td (benefits, ) Tj ET Q
q 0 0 0 rg BT 93.35 339.35 Td (including ) Tj ET Q
q 0 0 0 rg BT 136.50 339.35 Td (severance ) Tj ET Q
q 0 0 0 rg BT 181.38 339.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 200.03 339.35 Td (retention ) Tj ET Q
q 0 0 0 rg BT 240.83 339.35 Td (incentives, ) Tj ET Q
q 0 0 0 rg BT 289.52 339.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 318.67 339.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 342.55 339.35 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 382.77 339.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 394.75 339.35 Td (T) Tj ET Q
q 0 0 0 rg BT 400.80 339.35 Td (ransition-related ) Tj ET Q
q 0 0 0 rg BT 473.09 339.35 Td (compensation, ) Tj ET Q
q 0 0 0 rg BT 537.52 339.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 549.18 339.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 326.75 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 112.99 326.75 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 162.65 326.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 174.97 326.75 Td (Income ) Tj ET Q
q 0 0 0 rg BT 210.04 326.75 Td (\(Loss\), ) Tj ET Q
q 0 0 0 rg BT 243.07 326.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 261.81 326.75 Td (real ) Tj ET Q
q 0 0 0 rg BT 281.13 326.75 Td (estate ) Tj ET Q
q 0 0 0 rg BT 308.61 326.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 340.75 326.75 Td (char) Tj ET Q
q 0 0 0 rg BT 358.63 326.75 Td (ges, ) Tj ET Q
q 0 0 0 rg BT 378.83 326.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 408.07 326.75 Td (were ) Tj ET Q
q 0 0 0 rg BT 432.05 326.75 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 472.35 326.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 484.68 326.75 Td (Occupancy) Tj ET Q
q 0 0 0 rg BT 531.22 326.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 537.42 326.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 549.17 326.75 Td (the ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.10 620.42 Td (\(41,619) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 562.50 620.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
0.8 0.9333333333333333 1 rg
/GS0 gs
57.00 612.70 125.96 -9.55 re f
/GS0 gs
q 0 0 0 rg BT 57.00 605.42 Td (Balance as of March 31, 2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 357.85 605.42 Td (3,323) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 445.85 605.42 Td (6,551) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 538.85 605.42 Td (9,874) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 590.42 Td (Accrued char) Tj ET Q
q 0 0 0 rg BT 113.16 590.42 Td (ges) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 357.85 590.42 Td (2,010) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 445.85 590.42 Td (1,247) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 538.85 590.42 Td (3,257) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 575.42 Td (Payments) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 354.35 575.42 Td (\(5,164) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 381.50 575.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 442.35 575.42 Td (\(5,048) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 469.50 575.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.10 575.42 Td (\(10,212) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 562.50 575.42 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 57.00 560.44 Td (Balance as of Mar) Tj ET Q
q 0 0 0 rg BT 138.27 560.44 Td (ch 31, 2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 311.00 560.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 365.75 560.44 Td (169) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 399.00 560.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 445.85 560.44 Td (2,750) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 492.00 560.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 538.85 560.44 Td (2,919) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 538.42 Td (Non-cash char) Tj ET Q
q 0 0 0 rg BT 117.74 538.42 Td (ges) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 131.74 543.18 Td (\(2\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 523.42 Td (   ) Tj ET Q
q 0 0 0 rg BT 64.68 523.42 Td (Y) Tj ET Q
q 0 0 0 rg BT 71.54 523.42 Td (ear ended March 31, 2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 311.00 523.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 365.75 523.42 Td (591) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 399.00 523.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 445.85 523.42 Td (1,143) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 492.00 523.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 538.85 523.42 Td (1,734) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 508.42 Td (   ) Tj ET Q
q 0 0 0 rg BT 64.68 508.42 Td (Y) Tj ET Q
q 0 0 0 rg BT 71.54 508.42 Td (ear ended March 31, 2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 357.85 508.42 Td (4,423) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 445.85 508.42 Td (3,396) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 538.85 508.42 Td (7,819) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 57.00 493.44 Td (   ) Tj ET Q
q 0 0 0 rg BT 64.68 493.44 Td (Y) Tj ET Q
q 0 0 0 rg BT 71.49 493.44 Td (ear) Tj ET Q
q 0 0 0 rg BT 85.38 493.44 Td ( ended Mar) Tj ET Q
q 0 0 0 rg BT 137.10 493.44 Td (ch 31, 2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 357.85 493.44 Td (3,788) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 464.25 493.44 Td (4) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 538.85 493.44 Td (3,792) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 478.42 Td (T) Tj ET Q
q 0 0 0 rg BT 62.68 478.42 Td (otal) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 311.00 478.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 357.85 478.42 Td (8,802) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 399.00 478.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 445.85 478.42 Td (4,543) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 492.00 478.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.60 478.42 Td (13,345) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 57.00 455.44 Td (Cumulative charges incurr) Tj ET Q
q 0 0 0 rg BT 177.55 455.44 Td (ed thr) Tj ET Q
q 0 0 0 rg BT 204.48 455.44 Td (ough Mar) Tj ET Q
q 0 0 0 rg BT 248.92 455.44 Td (ch 31, 2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 311.00 455.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 352.60 455.44 Td (65,284) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 399.00 455.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 440.60 455.44 Td (26,846) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 492.00 455.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 533.60 455.44 Td (92,130) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 54.00 440.95 Td (\(1\) ) Tj ET Q
q 0 0 0 rg BT 66.02 440.95 Td ( ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 68.13 440.95 Td (Includes ) Tj ET Q
q 0 0 0 rg BT 97.21 440.95 Td (lease ) Tj ET Q
q 0 0 0 rg BT 115.19 440.95 Td (loss ) Tj ET Q
q 0 0 0 rg BT 129.62 440.95 Td (reserve ) Tj ET Q
q 0 0 0 rg BT 154.70 440.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 166.01 440.95 Td (space ) Tj ET Q
q 0 0 0 rg BT 185.76 440.95 Td (permanently ) Tj ET Q
q 0 0 0 rg BT 227.73 440.95 Td (abandoned ) Tj ET Q
q 0 0 0 rg BT 264.37 440.95 Td (of ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 273.01 440.95 Td ($9,069) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 295.01 440.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 297.00 440.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 308.31 440.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 320.07 440.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 335.82 440.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 356.91 440.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 379.77 440.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 391.75 440.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 411.74 440.95 Td (and ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 425.27 440.95 Td ($7,212) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 447.27 440.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 449.26 440.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 460.57 440.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 472.33 440.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 488.08 440.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 509.16 440.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 532.03 440.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 544.01 440.95 Td (2016.) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 54.00 430.75 Td (\(2\) ) Tj ET Q
q 0 0 0 rg BT 66.04 430.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 68.16 430.75 Td (Includes ) Tj ET Q
q 0 0 0 rg BT 99.08 430.75 Td (stock-based ) Tj ET Q
q 0 0 0 rg BT 141.33 430.75 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 190.67 430.75 Td (expense ) Tj ET Q
q 0 0 0 rg BT 220.17 430.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 234.57 430.75 Td (accelerated ) Tj ET Q
q 0 0 0 rg BT 274.91 430.75 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 294.50 430.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 313.15 430.75 Td (depreciation.) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 54.00 405.55 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 89.89 405.55 Td (Partners) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 392.95 Td (On ) Tj ET Q
q 0 0 0 rg BT 69.74 392.95 Td (April ) Tj ET Q
q 0 0 0 rg BT 95.63 392.95 Td (13, ) Tj ET Q
q 0 0 0 rg BT 112.48 392.95 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 139.83 392.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 165.13 392.95 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 197.44 392.95 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 237.31 392.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 245.70 392.95 Td (majority ) Tj ET Q
q 0 0 0 rg BT 285.00 392.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 314.97 392.95 Td (interest ) Tj ET Q
q 0 0 0 rg BT 349.61 392.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 361.50 392.95 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 396.72 392.95 Td (Partners, ) Tj ET Q
q 0 0 0 rg BT 437.48 392.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 445.87 392.95 Td (diversified ) Tj ET Q
q 0 0 0 rg BT 494.50 392.95 Td (real ) Tj ET Q
q 0 0 0 rg BT 513.96 392.95 Td (estate ) Tj ET Q
q 0 0 0 rg BT 541.59 392.95 Td (asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 380.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 109.90 380.35 Td (firm ) Tj ET Q
q 0 0 0 rg BT 130.23 380.35 Td (headquartered ) Tj ET Q
q 0 0 0 rg BT 191.95 380.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 202.37 380.35 Td (New ) Tj ET Q
q 0 0 0 rg BT 224.12 380.35 Td (Y) Tj ET Q
q 0 0 0 rg BT 230.65 380.35 Td (ork. ) Tj ET Q
q 0 0 0 rg BT 249.53 380.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 251.78 380.35 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 285.53 380.35 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 322.19 380.35 Td (managed ) Tj ET Q
q 0 0 0 rg BT 362.35 380.35 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 425.25 380.35 Td ($41,500,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 477.75 380.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 480.00 380.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 489.93 380.35 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 516.69 380.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 529.44 380.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 544.52 380.35 Td (date ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 367.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 66.44 367.75 Td (acquisition. ) Tj ET Q
q 0 0 0 rg BT 118.84 367.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 122.54 367.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 147.81 367.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 180.09 367.75 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 219.93 367.75 Td (an ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 233.54 367.75 Td (82%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 252.79 367.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 256.48 367.75 Td (ownership ) Tj ET Q
q 0 0 0 rg BT 303.93 367.75 Td (interest ) Tj ET Q
q 0 0 0 rg BT 338.53 367.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 350.39 367.75 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 385.59 367.75 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 423.69 367.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 439.63 367.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 447.99 367.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 470.34 367.75 Td (payment ) Tj ET Q
q 0 0 0 rg BT 510.20 367.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 522.64 367.75 Td ($631,476) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 355.15 Td (\(including ) Tj ET Q
q 0 0 0 rg BT 99.93 355.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 107.37 355.15 Td (payment ) Tj ET Q
q 0 0 0 rg BT 146.29 355.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 161.31 355.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 182.74 355.15 Td (delivered ) Tj ET Q
q 0 0 0 rg BT 224.58 355.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 236.09 355.15 Td ($36,772) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 270.22 355.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 272.99 355.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 290.93 355.15 Td (co-investments ) Tj ET Q
q 0 0 0 rg BT 357.27 355.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 368.79 355.15 Td ($16,210) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 402.91 355.15 Td (\), ) Tj ET Q
q 0 0 0 rg BT 411.81 355.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 440.24 355.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 459.34 355.15 Td (funded ) Tj ET Q
q 0 0 0 rg BT 491.27 355.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 512.71 355.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 520.15 355.15 Td (portion ) Tj ET Q
q 0 0 0 rg BT 553.25 355.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 342.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 70.58 342.55 Td (proceeds ) Tj ET Q
q 0 0 0 rg BT 111.64 342.55 Td (from ) Tj ET Q
q 0 0 0 rg BT 135.80 342.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 152.37 342.55 Td (issuance ) Tj ET Q
q 0 0 0 rg BT 191.69 342.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 204.19 342.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 220.77 342.55 Td (2026 ) Tj ET Q
q 0 0 0 rg BT 245.51 342.55 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 273.76 342.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 292.67 342.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 309.24 342.55 Td (6.375% ) Tj ET Q
q 0 0 0 rg BT 345.36 342.55 Td (2056 ) Tj ET Q
q 0 0 0 rg BT 370.11 342.55 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 398.36 342.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 410.27 342.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 441.42 342.55 Td (2016. ) Tj ET Q
q 0 0 0 rg BT 468.80 342.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 472.28 342.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 492.35 342.55 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 527.59 342.55 Td (Partners ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 329.95 Td (management ) Tj ET Q
q 0 0 0 rg BT 110.85 329.95 Td (team ) Tj ET Q
q 0 0 0 rg BT 134.47 329.95 Td (retained ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 171.49 329.95 Td (18%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 190.74 329.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 193.94 329.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 205.90 329.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 221.93 329.95 Td (outstanding ) Tj ET Q
q 0 0 0 rg BT 274.14 329.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 303.60 329.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 314.97 329.95 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 349.67 329.95 Td (Partners. ) Tj ET Q
q 0 0 0 rg BT 389.92 329.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 392.89 329.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 412.42 329.95 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 447.13 329.95 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 484.74 329.95 Td (management ) Tj ET Q
q 0 0 0 rg BT 541.60 329.95 Td (team ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 317.35 Td (also ) Tj ET Q
q 0 0 0 rg BT 73.81 317.35 Td (retained ) Tj ET Q
q 0 0 0 rg BT 110.52 317.35 Td (rights ) Tj ET Q
q 0 0 0 rg BT 137.33 317.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 148.40 317.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 164.12 317.35 Td (full ) Tj ET Q
q 0 0 0 rg BT 181.60 317.35 Td (amount ) Tj ET Q
q 0 0 0 rg BT 215.99 317.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 227.63 317.35 Td (performance ) Tj ET Q
q 0 0 0 rg BT 283.57 317.35 Td (fee ) Tj ET Q
q 0 0 0 rg BT 299.29 317.35 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 339.50 317.35 Td (earned ) Tj ET Q
q 0 0 0 rg BT 370.37 317.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 383.77 317.35 Td (historic ) Tj ET Q
q 0 0 0 rg BT 417.52 317.35 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 444.92 317.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 455.98 317.35 Td (place ) Tj ET Q
q 0 0 0 rg BT 481.03 317.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 492.67 317.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 504.31 317.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 520.04 317.35 Td (closing ) Tj ET Q
q 0 0 0 rg BT 553.26 317.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 304.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 69.82 304.75 Td (acquisition. ) Tj ET Q
q 0 0 0 rg BT 121.52 304.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 124.51 304.75 Td (Performance ) Tj ET Q
q 0 0 0 rg BT 181.14 304.75 Td (fees ) Tj ET Q
q 0 0 0 rg BT 201.04 304.75 Td (earned ) Tj ET Q
q 0 0 0 rg BT 232.01 304.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 245.50 304.75 Td (this ) Tj ET Q
q 0 0 0 rg BT 263.67 304.75 Td (historic ) Tj ET Q
q 0 0 0 rg BT 297.49 304.75 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 324.99 304.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 340.80 304.75 Td (fully ) Tj ET Q
q 0 0 0 rg BT 363.62 304.75 Td (passed ) Tj ET Q
q 0 0 0 rg BT 394.61 304.75 Td (through ) Tj ET Q
q 0 0 0 rg BT 430.27 304.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 441.43 304.75 Td (employees ) Tj ET Q
q 0 0 0 rg BT 489.32 304.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 501.06 304.75 Td (compensation, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 292.15 Td (per ) Tj ET Q
q 0 0 0 rg BT 70.85 292.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 87.11 292.15 Td (terms ) Tj ET Q
q 0 0 0 rg BT 113.88 292.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 126.07 292.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 142.33 292.15 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 191.85 292.15 Td (agreement, ) Tj ET Q
q 0 0 0 rg BT 241.64 292.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 260.24 292.15 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 300.40 292.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 312.59 292.15 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 374.35 292.15 Td (expense. ) Tj ET Q
q 0 0 0 rg BT 414.23 292.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 417.67 292.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 442.68 292.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 474.71 292.15 Td (expects ) Tj ET Q
q 0 0 0 rg BT 509.63 292.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 525.90 292.15 Td (full ) Tj ET Q
q 0 0 0 rg BT 543.92 292.15 Td (pass ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 279.55 Td (through ) Tj ET Q
q 0 0 0 rg BT 89.16 279.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 100.40 279.55 Td (performance ) Tj ET Q
q 0 0 0 rg BT 155.94 279.55 Td (fees ) Tj ET Q
q 0 0 0 rg BT 175.34 279.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 186.00 279.55 Td (phase ) Tj ET Q
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q 0 0 0 rg BT 422.35 666.15 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 472.47 666.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 482.94 666.15 Td (syner) Tj ET Q
q 0 0 0 rg BT 505.50 666.15 Td (gies ) Tj ET Q
q 0 0 0 rg BT 524.71 666.15 Td (expected ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 653.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 64.79 653.55 Td (arise ) Tj ET Q
q 0 0 0 rg BT 87.24 653.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 108.53 653.55 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 142.65 653.55 Td (Partners.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 628.35 Td (Management ) Tj ET Q
q 0 0 0 rg BT 112.30 628.35 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 156.02 628.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 172.33 628.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 190.39 628.35 Td (values ) Tj ET Q
q 0 0 0 rg BT 220.70 628.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 232.93 628.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 249.25 628.35 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 310.46 628.35 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 355.93 628.35 Td (fund ) Tj ET Q
q 0 0 0 rg BT 378.66 628.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 435.79 628.35 Td (contracts, ) Tj ET Q
q 0 0 0 rg BT 479.80 628.35 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 541.02 628.35 Td (trade ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 615.75 Td (name, ) Tj ET Q
q 0 0 0 rg BT 80.70 615.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 97.20 615.75 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 148.10 615.75 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 191.43 615.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 213.18 615.75 Td (management ) Tj ET Q
q 0 0 0 rg BT 268.16 615.75 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 307.40 615.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 332.65 615.75 Td (upon ) Tj ET Q
q 0 0 0 rg BT 354.98 615.75 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 401.82 615.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 421.81 615.75 Td (flow ) Tj ET Q
q 0 0 0 rg BT 442.40 615.75 Td (analyses, ) Tj ET Q
q 0 0 0 rg BT 481.93 615.75 Td (using ) Tj ET Q
q 0 0 0 rg BT 506.02 615.75 Td (unobservable ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 603.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 86.07 603.15 Td (data ) Tj ET Q
q 0 0 0 rg BT 106.47 603.15 Td (inputs, ) Tj ET Q
q 0 0 0 rg BT 137.68 603.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 166.26 603.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 181.99 603.15 Td (Level ) Tj ET Q
q 0 0 0 rg BT 208.81 603.15 Td (3 ) Tj ET Q
q 0 0 0 rg BT 216.97 603.15 Td (measurements. ) Tj ET Q
q 0 0 0 rg BT 282.58 603.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 285.28 603.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 304.52 603.15 Td (significant ) Tj ET Q
q 0 0 0 rg BT 351.76 603.15 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 406.59 603.15 Td (used ) Tj ET Q
q 0 0 0 rg BT 428.76 603.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 439.84 603.15 Td (these ) Tj ET Q
q 0 0 0 rg BT 464.33 603.15 Td (analyses ) Tj ET Q
q 0 0 0 rg BT 502.81 603.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 513.31 603.15 Td (acquisition, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 590.55 Td (including ) Tj ET Q
q 0 0 0 rg BT 96.29 590.55 Td (projected ) Tj ET Q
q 0 0 0 rg BT 137.98 590.55 Td (annual ) Tj ET Q
q 0 0 0 rg BT 168.59 590.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 189.87 590.55 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 218.46 590.55 Td (projected ) Tj ET Q
q 0 0 0 rg BT 259.57 590.55 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 286.69 590.55 Td (growth ) Tj ET Q
q 0 0 0 rg BT 319.07 590.55 Td (rates ) Tj ET Q
q 0 0 0 rg BT 341.51 590.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 359.30 590.55 Td (discount ) Tj ET Q
q 0 0 0 rg BT 397.50 590.55 Td (rates, ) Tj ET Q
q 0 0 0 rg BT 422.58 590.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 438.02 590.55 Td (summarized ) Tj ET Q
q 0 0 0 rg BT 491.96 590.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 503.33 590.55 Td (follows: ) Tj ET Q
q 0 0 0 rg BT 540.38 590.55 Td ( ) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
51.50 565.05 253.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
304.50 565.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
308.50 565.05 174.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
482.50 565.05 8.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
490.50 565.05 73.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
51.50 535.05 253.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
304.50 535.05 4.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
308.50 535.05 174.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
482.50 535.05 8.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
490.50 535.05 73.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
51.50 531.05 253.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
304.50 531.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
308.50 531.05 174.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
482.50 531.05 8.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
490.50 531.05 73.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
308.5 565.05 m
482.5 565.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
490.5 565.05 m
563.5 565.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
308.5 516.05 m
482.5 516.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
490.5 516.05 m
563.5 516.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
308.5 516.05 m
482.5 516.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
490.5 516.05 m
563.5 516.05 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 333.90 569.82 Td (Projected Cash Flow Growth) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.60 569.82 Td (Discount Rate) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 554.82 Td (Indefinite-life intangible fund management contracts) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 319.75 554.82 Td (6% to 20% \(weighted-average: 6%\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 512.90 554.82 Td (13.5%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 539.82 Td (Indefinite-life trade name) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 319.75 539.82 Td (5% to 17% \(weighted-average: 6%\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 512.90 539.82 Td (13.5%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 318.85 520.82 Td (Projected ) Tj ET Q
q 0 0 0 rg BT 360.84 520.82 Td (AUM Growth / \(Attrition\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.60 520.82 Td (Discount Rate) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 505.82 Td (Amortizable intangible asset management contracts:) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 370.75 505.82 Td (7% / \(10\)%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 512.90 505.82 Td (13.4%) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 476.35 Td (In ) Tj ET Q
q 0 0 0 rg BT 65.62 476.35 Td (addition ) Tj ET Q
q 0 0 0 rg BT 102.91 476.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 113.96 476.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 129.67 476.35 Td (previously ) Tj ET Q
q 0 0 0 rg BT 176.87 476.35 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 220.00 476.35 Td (char) Tj ET Q
q 0 0 0 rg BT 237.88 476.35 Td (ge ) Tj ET Q
q 0 0 0 rg BT 250.66 476.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 262.29 476.35 Td ($15,200) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 296.41 476.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 299.29 476.35 Td (incurred ) Tj ET Q
q 0 0 0 rg BT 337.15 476.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 348.19 476.35 Td (connection ) Tj ET Q
q 0 0 0 rg BT 397.14 476.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 418.68 476.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 434.39 476.35 Td (implementation ) Tj ET Q
q 0 0 0 rg BT 503.17 476.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 514.79 476.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 530.50 476.35 Td (Clarion ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 463.75 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 92.12 463.75 Td (management ) Tj ET Q
q 0 0 0 rg BT 149.47 463.75 Td (equity ) Tj ET Q
q 0 0 0 rg BT 179.43 463.75 Td (plan, ) Tj ET Q
q 0 0 0 rg BT 203.84 463.75 Td (during ) Tj ET Q
q 0 0 0 rg BT 234.96 463.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 251.50 463.75 Td (years ) Tj ET Q
q 0 0 0 rg BT 277.36 463.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 306.15 463.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 337.26 463.75 Td (31, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 354.09 463.75 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 375.09 463.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 378.80 463.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 397.67 463.75 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 425.01 463.75 Td (there ) Tj ET Q
q 0 0 0 rg BT 449.70 463.75 Td (were ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 473.81 463.75 Td ($10,757) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 507.94 463.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 511.65 463.75 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.52 463.75 Td ($2,807) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 559.39 463.75 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 451.15 Td (respectively) Tj ET Q
q 0 0 0 rg BT 104.05 451.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 109.30 451.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 120.67 451.15 Td (costs ) Tj ET Q
q 0 0 0 rg BT 144.29 451.15 Td (incurred ) Tj ET Q
q 0 0 0 rg BT 181.90 451.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 192.69 451.15 Td (connection ) Tj ET Q
q 0 0 0 rg BT 241.39 451.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 262.68 451.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 278.13 451.15 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 326.83 451.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 338.21 451.15 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 372.33 451.15 Td (Partners.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 425.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 72.65 425.95 Td (financial ) Tj ET Q
q 0 0 0 rg BT 111.71 425.95 Td (results ) Tj ET Q
q 0 0 0 rg BT 141.46 425.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 152.53 425.95 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 186.36 425.95 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 223.10 425.95 Td (included ) Tj ET Q
q 0 0 0 rg BT 261.58 425.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 272.08 425.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 295.98 425.95 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 332.87 425.95 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 388.27 425.95 Td (financial ) Tj ET Q
q 0 0 0 rg BT 427.33 425.95 Td (results ) Tj ET Q
q 0 0 0 rg BT 457.08 425.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 471.65 425.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 486.81 425.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 507.20 425.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 534.60 425.95 Td (March ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 413.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 70.22 413.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 96.94 413.35 Td (included ) Tj ET Q
q 0 0 0 rg BT 136.18 413.35 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 176.59 413.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 188.43 413.35 Td ($249,468) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 227.81 413.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 230.90 413.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 249.15 413.35 Td (did ) Tj ET Q
q 0 0 0 rg BT 265.66 413.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 282.17 413.35 Td (have ) Tj ET Q
q 0 0 0 rg BT 305.09 413.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 312.84 413.35 Td (material ) Tj ET Q
q 0 0 0 rg BT 350.33 413.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 382.00 413.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 393.26 413.35 Td (Net ) Tj ET Q
q 0 0 0 rg BT 411.51 413.35 Td (Income ) Tj ET Q
q 0 0 0 rg BT 446.09 413.35 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 475.33 413.35 Td (Attributable ) Tj ET Q
q 0 0 0 rg BT 529.16 413.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 540.42 413.35 Td (Legg ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 400.75 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 87.83 400.75 Td (Inc.) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 54.00 375.55 Td (Pro ) Tj ET Q
q 0 0 0 rg BT 72.38 375.55 Td (Forma ) Tj ET Q
q 0 0 0 rg BT 104.76 375.55 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 149.98 375.55 Td (Information) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 362.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 72.88 362.95 Td (following ) Tj ET Q
q 0 0 0 rg BT 116.26 362.95 Td (unaudited ) Tj ET Q
q 0 0 0 rg BT 160.22 362.95 Td (pro ) Tj ET Q
q 0 0 0 rg BT 176.76 362.95 Td (forma ) Tj ET Q
q 0 0 0 rg BT 204.38 362.95 Td (financial ) Tj ET Q
q 0 0 0 rg BT 243.67 362.95 Td (information ) Tj ET Q
q 0 0 0 rg BT 295.79 362.95 Td (presents ) Tj ET Q
q 0 0 0 rg BT 332.75 362.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 348.13 362.95 Td (combined ) Tj ET Q
q 0 0 0 rg BT 392.09 362.95 Td (financial ) Tj ET Q
q 0 0 0 rg BT 431.37 362.95 Td (results ) Tj ET Q
q 0 0 0 rg BT 461.33 362.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 472.63 362.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 496.76 362.95 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 530.52 362.95 Td (Clarion ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 350.35 Td (Partners, ) Tj ET Q
q 0 0 0 rg BT 93.87 350.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 111.87 350.35 Td (EnT) Tj ET Q
q 0 0 0 rg BT 129.58 350.35 Td (rust, ) Tj ET Q
q 0 0 0 rg BT 150.79 350.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 165.87 350.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 181.54 350.35 Td (initial ) Tj ET Q
q 0 0 0 rg BT 208.88 350.35 Td (period ) Tj ET Q
q 0 0 0 rg BT 238.54 350.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 250.12 350.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 265.79 350.35 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 318.79 350.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 330.38 350.35 Td (if ) Tj ET Q
q 0 0 0 rg BT 339.63 350.35 Td (each ) Tj ET Q
q 0 0 0 rg BT 361.70 350.35 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 410.61 350.35 Td (had ) Tj ET Q
q 0 0 0 rg BT 428.61 350.35 Td (occurred ) Tj ET Q
q 0 0 0 rg BT 468.17 350.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 480.89 350.35 Td (April ) Tj ET Q
q 0 0 0 rg BT 505.89 350.35 Td (1, ) Tj ET Q
q 0 0 0 rg BT 516.60 350.35 Td (2015. ) Tj ET Q
q 0 0 0 rg BT 543.06 350.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 545.70 350.35 Td (The ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 337.75 Td (unaudited ) Tj ET Q
q 0 0 0 rg BT 97.71 337.75 Td (pro ) Tj ET Q
q 0 0 0 rg BT 114.01 337.75 Td (forma ) Tj ET Q
q 0 0 0 rg BT 141.38 337.75 Td (financial ) Tj ET Q
q 0 0 0 rg BT 180.42 337.75 Td (information ) Tj ET Q
q 0 0 0 rg BT 232.29 337.75 Td (reflects ) Tj ET Q
q 0 0 0 rg BT 265.49 337.75 Td (certain ) Tj ET Q
q 0 0 0 rg BT 296.36 337.75 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 348.83 337.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 363.38 337.75 Td (amortization ) Tj ET Q
q 0 0 0 rg BT 418.74 337.75 Td (expense ) Tj ET Q
q 0 0 0 rg BT 454.87 337.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 485.73 337.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 496.20 337.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 511.33 337.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 528.21 337.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 553.25 337.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 325.15 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 92.56 325.15 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 136.97 325.15 Td (assets, ) Tj ET Q
q 0 0 0 rg BT 166.51 325.15 Td (acquisition- ) Tj ET Q
q 0 0 0 rg BT 218.50 325.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 236.08 325.15 Td (transition-related ) Tj ET Q
q 0 0 0 rg BT 310.22 325.15 Td (costs, ) Tj ET Q
q 0 0 0 rg BT 336.27 325.15 Td (interest ) Tj ET Q
q 0 0 0 rg BT 369.59 325.15 Td (expense ) Tj ET Q
q 0 0 0 rg BT 405.83 325.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 436.81 325.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 447.39 325.15 Td (debt ) Tj ET Q
q 0 0 0 rg BT 467.89 325.15 Td (incurred ) Tj ET Q
q 0 0 0 rg BT 505.29 325.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 515.87 325.15 Td (finance ) Tj ET Q
q 0 0 0 rg BT 549.19 325.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 312.55 Td (acquisitions, ) Tj ET Q
q 0 0 0 rg BT 109.66 312.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 127.68 312.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 143.38 312.55 Td (income ) Tj ET Q
q 0 0 0 rg BT 177.15 312.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 192.84 312.55 Td (impact ) Tj ET Q
q 0 0 0 rg BT 224.28 312.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 235.90 312.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 251.59 312.55 Td (pro ) Tj ET Q
q 0 0 0 rg BT 268.45 312.55 Td (forma ) Tj ET Q
q 0 0 0 rg BT 296.39 312.55 Td (adjustments. ) Tj ET Q
q 0 0 0 rg BT 352.05 312.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 354.71 312.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 373.90 312.55 Td (unaudited ) Tj ET Q
q 0 0 0 rg BT 418.17 312.55 Td (pro ) Tj ET Q
q 0 0 0 rg BT 435.03 312.55 Td (forma ) Tj ET Q
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q 0 0 0 rg BT 494.31 615.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 496.86 615.90 Td (The ) Tj ET Q
q 0 0 0 rg BT 515.93 615.90 Td (transaction ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 603.30 Td (also ) Tj ET Q
q 0 0 0 rg BT 73.12 603.30 Td (provided ) Tj ET Q
q 0 0 0 rg BT 112.65 603.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 127.10 603.30 Td (potential ) Tj ET Q
q 0 0 0 rg BT 166.05 603.30 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 212.58 603.30 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 271.35 603.30 Td (payments ) Tj ET Q
q 0 0 0 rg BT 313.80 603.30 Td (as ) Tj ET Q
q 0 0 0 rg BT 324.75 603.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 335.71 603.30 Td (March ) Tj ET Q
q 0 0 0 rg BT 365.32 603.30 Td (31, ) Tj ET Q
q 0 0 0 rg BT 380.65 603.30 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 403.85 603.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 421.22 603.30 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 447.05 603.30 Td (however) Tj ET Q
q 0 0 0 rg BT 482.78 603.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 487.61 603.30 Td (no ) Tj ET Q
q 0 0 0 rg BT 500.32 603.30 Td (such ) Tj ET Q
q 0 0 0 rg BT 521.77 603.30 Td (payments ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 590.70 Td (were ) Tj ET Q
q 0 0 0 rg BT 76.78 590.70 Td (due ) Tj ET Q
q 0 0 0 rg BT 94.33 590.70 Td (based ) Tj ET Q
q 0 0 0 rg BT 120.62 590.70 Td (on ) Tj ET Q
q 0 0 0 rg BT 133.50 590.70 Td (relevant ) Tj ET Q
q 0 0 0 rg BT 169.70 590.70 Td (net ) Tj ET Q
q 0 0 0 rg BT 184.91 590.70 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 220.52 590.70 Td (tar) Tj ET Q
q 0 0 0 rg BT 231.40 590.70 Td (gets. ) Tj ET Q
q 0 0 0 rg BT 253.33 590.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 255.71 590.70 Td (Contingent ) Tj ET Q
q 0 0 0 rg BT 304.76 590.70 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 363.71 590.70 Td (catch-up ) Tj ET Q
q 0 0 0 rg BT 402.24 590.70 Td (adjustment ) Tj ET Q
q 0 0 0 rg BT 450.70 590.70 Td (payments ) Tj ET Q
q 0 0 0 rg BT 493.32 590.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 504.45 590.70 Td (up ) Tj ET Q
q 0 0 0 rg BT 517.34 590.70 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 527.89 590.70 Td ($81,465) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 578.10 Td (\(using ) Tj ET Q
q 0 0 0 rg BT 82.66 578.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 97.90 578.10 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 130.63 578.10 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 172.69 578.10 Td (rate ) Tj ET Q
q 0 0 0 rg BT 190.83 578.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 201.99 578.10 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 213.15 578.10 Td (March ) Tj ET Q
q 0 0 0 rg BT 242.96 578.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 258.50 578.10 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 279.50 578.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 284.54 578.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 299.19 578.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 314.43 578.10 Td (maximum ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 359.42 578.10 Td (106,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 393.55 578.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 395.43 578.10 Td (Australian ) Tj ET Q
q 0 0 0 rg BT 441.58 578.10 Td (dollar ) Tj ET Q
q 0 0 0 rg BT 468.48 578.10 Td (amount ) Tj ET Q
q 0 0 0 rg BT 502.39 578.10 Td (per ) Tj ET Q
q 0 0 0 rg BT 518.21 578.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 533.44 578.10 Td (related ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 565.50 Td (agreements\), ) Tj ET Q
q 0 0 0 rg BT 110.41 565.50 Td (may ) Tj ET Q
q 0 0 0 rg BT 130.97 565.50 Td (be ) Tj ET Q
q 0 0 0 rg BT 143.36 565.50 Td (due ) Tj ET Q
q 0 0 0 rg BT 161.00 565.50 Td (through ) Tj ET Q
q 0 0 0 rg BT 196.14 565.50 Td (March ) Tj ET Q
q 0 0 0 rg BT 226.02 565.50 Td (31, ) Tj ET Q
q 0 0 0 rg BT 241.63 565.50 Td (2019, ) Tj ET Q
q 0 0 0 rg BT 267.73 565.50 Td (dependent ) Tj ET Q
q 0 0 0 rg BT 313.36 565.50 Td (on ) Tj ET Q
q 0 0 0 rg BT 326.34 565.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 341.65 565.50 Td (achievement ) Tj ET Q
q 0 0 0 rg BT 397.18 565.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 408.41 565.50 Td (certain ) Tj ET Q
q 0 0 0 rg BT 439.45 565.50 Td (net ) Tj ET Q
q 0 0 0 rg BT 454.76 565.50 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 490.46 565.50 Td (tar) Tj ET Q
q 0 0 0 rg BT 501.35 565.50 Td (gets; ) Tj ET Q
q 0 0 0 rg BT 523.66 565.50 Td (however) Tj ET Q
q 0 0 0 rg BT 559.39 565.50 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 552.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 65.37 552.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 76.74 552.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 106.77 552.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 122.52 552.90 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 148.77 552.90 Td (no ) Tj ET Q
q 0 0 0 rg BT 161.90 552.90 Td (such ) Tj ET Q
q 0 0 0 rg BT 183.77 552.90 Td (payments ) Tj ET Q
q 0 0 0 rg BT 226.64 552.90 Td (are ) Tj ET Q
q 0 0 0 rg BT 242.08 552.90 Td (expected ) Tj ET Q
q 0 0 0 rg BT 282.02 552.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 292.81 552.90 Td (be ) Tj ET Q
q 0 0 0 rg BT 305.34 552.90 Td (due. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 527.70 Td (The ) Tj ET Q
q 0 0 0 rg BT 72.84 527.70 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 137.19 527.70 Td (interests ) Tj ET Q
q 0 0 0 rg BT 174.70 527.70 Td (can ) Tj ET Q
q 0 0 0 rg BT 191.79 527.70 Td (be ) Tj ET Q
q 0 0 0 rg BT 204.21 527.70 Td (put ) Tj ET Q
q 0 0 0 rg BT 220.15 527.70 Td (by ) Tj ET Q
q 0 0 0 rg BT 233.17 527.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 248.51 527.70 Td (holders ) Tj ET Q
q 0 0 0 rg BT 281.94 527.70 Td (or ) Tj ET Q
q 0 0 0 rg BT 293.21 527.70 Td (called ) Tj ET Q
q 0 0 0 rg BT 320.79 527.70 Td (by ) Tj ET Q
q 0 0 0 rg BT 333.81 527.70 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 357.90 527.70 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 389.00 527.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 403.76 527.70 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 449.44 527.70 Td (at ) Tj ET Q
q 0 0 0 rg BT 459.53 527.70 Td (fair ) Tj ET Q
q 0 0 0 rg BT 476.62 527.70 Td (value, ) Tj ET Q
q 0 0 0 rg BT 504.50 527.70 Td (except ) Tj ET Q
q 0 0 0 rg BT 534.42 527.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 549.18 527.70 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 515.10 Td (non-management ) Tj ET Q
q 0 0 0 rg BT 130.14 515.10 Td (portion ) Tj ET Q
q 0 0 0 rg BT 163.72 515.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 175.72 515.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 191.80 515.10 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 256.88 515.10 Td (interests, ) Tj ET Q
q 0 0 0 rg BT 297.75 515.10 Td (which ) Tj ET Q
q 0 0 0 rg BT 326.66 515.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 342.73 515.10 Td (callable ) Tj ET Q
q 0 0 0 rg BT 378.62 515.10 Td (at ) Tj ET Q
q 0 0 0 rg BT 389.45 515.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 397.36 515.10 Td (pre-agreed ) Tj ET Q
q 0 0 0 rg BT 445.49 515.10 Td (formula, ) Tj ET Q
q 0 0 0 rg BT 484.61 515.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 496.61 515.10 Td (specified ) Tj ET Q
q 0 0 0 rg BT 537.76 515.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 549.17 515.10 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 502.50 Td (agreements. ) Tj ET Q
q 0 0 0 rg BT 106.03 502.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 107.50 502.50 Td (The ) Tj ET Q
q 0 0 0 rg BT 125.42 502.50 Td (fair ) Tj ET Q
q 0 0 0 rg BT 141.58 502.50 Td (value ) Tj ET Q
q 0 0 0 rg BT 165.91 502.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 176.25 502.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 190.67 502.50 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 254.08 502.50 Td (interests ) Tj ET Q
q 0 0 0 rg BT 290.67 502.50 Td (reflects ) Tj ET Q
q 0 0 0 rg BT 323.16 502.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 337.57 502.50 Td (total ) Tj ET Q
q 0 0 0 rg BT 357.83 502.50 Td (business ) Tj ET Q
q 0 0 0 rg BT 395.01 502.50 Td (enterprise ) Tj ET Q
q 0 0 0 rg BT 437.99 502.50 Td (value ) Tj ET Q
q 0 0 0 rg BT 462.32 502.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 472.66 502.50 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 502.26 502.50 Td (Infrastructure, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 489.90 Td (after ) Tj ET Q
q 0 0 0 rg BT 75.86 489.90 Td (appropriate ) Tj ET Q
q 0 0 0 rg BT 126.29 489.90 Td (discounts ) Tj ET Q
q 0 0 0 rg BT 168.59 489.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 183.45 489.90 Td (lack ) Tj ET Q
q 0 0 0 rg BT 203.57 489.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 214.94 489.90 Td (marketability ) Tj ET Q
q 0 0 0 rg BT 273.55 489.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 291.33 489.90 Td (control.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 464.70 Td (The ) Tj ET Q
q 0 0 0 rg BT 72.22 464.70 Td (fair ) Tj ET Q
q 0 0 0 rg BT 88.69 464.70 Td (value ) Tj ET Q
q 0 0 0 rg BT 113.32 464.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 123.96 464.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 138.68 464.70 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 176.72 464.70 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 228.18 464.70 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 272.06 464.70 Td (asset ) Tj ET Q
q 0 0 0 rg BT 294.37 464.70 Td (management ) Tj ET Q
q 0 0 0 rg BT 349.91 464.70 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 389.70 464.70 Td (had ) Tj ET Q
q 0 0 0 rg BT 406.76 464.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 413.31 464.70 Td (useful ) Tj ET Q
q 0 0 0 rg BT 440.87 464.70 Td (life ) Tj ET Q
q 0 0 0 rg BT 456.75 464.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 467.40 464.70 Td (12 ) Tj ET Q
q 0 0 0 rg BT 479.79 464.70 Td (years ) Tj ET Q
q 0 0 0 rg BT 503.84 464.70 Td (at ) Tj ET Q
q 0 0 0 rg BT 513.31 464.70 Td (acquisition. ) Tj ET Q
q 0 0 0 rg BT 564.64 464.70 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 452.10 Td (Purchase ) Tj ET Q
q 0 0 0 rg BT 95.19 452.10 Td (price ) Tj ET Q
q 0 0 0 rg BT 119.46 452.10 Td (allocated ) Tj ET Q
q 0 0 0 rg BT 160.65 452.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 172.10 452.10 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 217.38 452.10 Td (assets ) Tj ET Q
q 0 0 0 rg BT 245.16 452.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 263.61 452.10 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 304.23 452.10 Td (is ) Tj ET Q
q 0 0 0 rg BT 314.52 452.10 Td (not ) Tj ET Q
q 0 0 0 rg BT 331.23 452.10 Td (deductible ) Tj ET Q
q 0 0 0 rg BT 378.25 452.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 393.05 452.10 Td (Australian ) Tj ET Q
q 0 0 0 rg BT 440.08 452.10 Td (tax ) Tj ET Q
q 0 0 0 rg BT 456.19 452.10 Td (purposes. ) Tj ET Q
q 0 0 0 rg BT 499.43 452.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 502.72 452.10 Td (Goodwill ) Tj ET Q
q 0 0 0 rg BT 545.68 452.10 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 439.50 Td (principally ) Tj ET Q
q 0 0 0 rg BT 102.11 439.50 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 152.55 439.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 163.35 439.50 Td (syner) Tj ET Q
q 0 0 0 rg BT 185.90 439.50 Td (gies ) Tj ET Q
q 0 0 0 rg BT 205.44 439.50 Td (expected ) Tj ET Q
q 0 0 0 rg BT 245.38 439.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 256.17 439.50 Td (arise ) Tj ET Q
q 0 0 0 rg BT 278.61 439.50 Td (with ) Tj ET Q
q 0 0 0 rg BT 299.91 439.50 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 330.54 439.50 Td (Infrastructure.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 414.30 Td (Management ) Tj ET Q
q 0 0 0 rg BT 112.30 414.30 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 156.02 414.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 172.33 414.30 Td (fair ) Tj ET Q
q 0 0 0 rg BT 190.39 414.30 Td (values ) Tj ET Q
q 0 0 0 rg BT 220.70 414.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 232.93 414.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 249.25 414.30 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 310.46 414.30 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 355.93 414.30 Td (fund ) Tj ET Q
q 0 0 0 rg BT 378.66 414.30 Td (management ) Tj ET Q
q 0 0 0 rg BT 435.79 414.30 Td (contracts, ) Tj ET Q
q 0 0 0 rg BT 479.80 414.30 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 541.02 414.30 Td (trade ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 401.70 Td (name, ) Tj ET Q
q 0 0 0 rg BT 80.70 401.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 97.20 401.70 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 148.10 401.70 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 191.43 401.70 Td (asset ) Tj ET Q
q 0 0 0 rg BT 213.18 401.70 Td (management ) Tj ET Q
q 0 0 0 rg BT 268.16 401.70 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 307.40 401.70 Td (based ) Tj ET Q
q 0 0 0 rg BT 332.65 401.70 Td (upon ) Tj ET Q
q 0 0 0 rg BT 354.98 401.70 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 401.82 401.70 Td (cash ) Tj ET Q
q 0 0 0 rg BT 421.81 401.70 Td (flow ) Tj ET Q
q 0 0 0 rg BT 442.40 401.70 Td (analyses, ) Tj ET Q
q 0 0 0 rg BT 481.93 401.70 Td (using ) Tj ET Q
q 0 0 0 rg BT 506.02 401.70 Td (unobservable ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 389.10 Td (market ) Tj ET Q
q 0 0 0 rg BT 86.07 389.10 Td (data ) Tj ET Q
q 0 0 0 rg BT 106.47 389.10 Td (inputs, ) Tj ET Q
q 0 0 0 rg BT 137.68 389.10 Td (which ) Tj ET Q
q 0 0 0 rg BT 166.26 389.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 181.99 389.10 Td (Level ) Tj ET Q
q 0 0 0 rg BT 208.81 389.10 Td (3 ) Tj ET Q
q 0 0 0 rg BT 216.97 389.10 Td (measurements. ) Tj ET Q
q 0 0 0 rg BT 282.58 389.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 285.28 389.10 Td (The ) Tj ET Q
q 0 0 0 rg BT 304.52 389.10 Td (significant ) Tj ET Q
q 0 0 0 rg BT 351.76 389.10 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 406.59 389.10 Td (used ) Tj ET Q
q 0 0 0 rg BT 428.76 389.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 439.84 389.10 Td (these ) Tj ET Q
q 0 0 0 rg BT 464.33 389.10 Td (analyses ) Tj ET Q
q 0 0 0 rg BT 502.81 389.10 Td (at ) Tj ET Q
q 0 0 0 rg BT 513.31 389.10 Td (acquisition, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 376.50 Td (including ) Tj ET Q
q 0 0 0 rg BT 96.29 376.50 Td (projected ) Tj ET Q
q 0 0 0 rg BT 137.98 376.50 Td (annual ) Tj ET Q
q 0 0 0 rg BT 168.59 376.50 Td (cash ) Tj ET Q
q 0 0 0 rg BT 189.87 376.50 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 218.46 376.50 Td (projected ) Tj ET Q
q 0 0 0 rg BT 259.57 376.50 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 286.69 376.50 Td (growth ) Tj ET Q
q 0 0 0 rg BT 319.07 376.50 Td (rates ) Tj ET Q
q 0 0 0 rg BT 341.51 376.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 359.30 376.50 Td (discount ) Tj ET Q
q 0 0 0 rg BT 397.50 376.50 Td (rates, ) Tj ET Q
q 0 0 0 rg BT 422.58 376.50 Td (are ) Tj ET Q
q 0 0 0 rg BT 438.02 376.50 Td (summarized ) Tj ET Q
q 0 0 0 rg BT 491.96 376.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 503.33 376.50 Td (follows: ) Tj ET Q
q 0 0 0 rg BT 540.38 376.50 Td ( ) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
51.50 351.00 224.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.50 351.00 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.50 351.00 202.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
481.50 351.00 8.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
489.50 351.00 74.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
51.50 306.00 224.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.50 306.00 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.50 306.00 202.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
481.50 306.00 8.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
489.50 306.00 74.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279.5 351 m
481.5 351 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489.5 351 m
563.5 351 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279.5 306 m
481.5 306 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489.5 306 m
563.5 306 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279.5 306 m
481.5 306 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489.5 306 m
563.5 306 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 318.90 355.77 Td (Projected Cash Flow Growth) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.10 355.77 Td (Discount Rate) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 340.27 Td (Indefinite-life intangible fund management) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 329.77 Td (contracts and indefinite-life trade name) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 305.35 329.77 Td (Up to 10% \(weighted-average: 7%\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 512.40 329.77 Td (16.5%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 303.85 310.77 Td (Projected ) Tj ET Q
q 0 0 0 rg BT 345.84 310.77 Td (AUM Growth / \(Attrition\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.10 310.77 Td (Discount Rate) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 295.77 Td (Amortizable intangible asset management contracts) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 358.40 295.77 Td (7% / \(8\)%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 512.40 295.77 Td (16.5%) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 266.30 Td (During ) Tj ET Q
q 0 0 0 rg BT 86.67 266.30 Td (the ) Tj ET Q
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q 0 0 0 rg BT 342.30 641.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 352.82 641.30 Td (non-current ) Tj ET Q
q 0 0 0 rg BT 404.15 641.30 Td (Contingent ) Tj ET Q
q 0 0 0 rg BT 453.17 641.30 Td (consideration. ) Tj ET Q
q 0 0 0 rg BT 514.72 641.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 517.07 641.30 Td (During ) Tj ET Q
q 0 0 0 rg BT 549.18 641.30 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 628.70 Td (year ) Tj ET Q
q 0 0 0 rg BT 74.80 628.70 Td (ended ) Tj ET Q
q 0 0 0 rg BT 102.60 628.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 132.74 628.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 148.59 628.70 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 174.95 628.70 Td (reductions ) Tj ET Q
q 0 0 0 rg BT 221.42 628.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 232.32 628.70 Td (projected ) Tj ET Q
q 0 0 0 rg BT 273.51 628.70 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 300.75 628.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 318.64 628.70 Td (revenues, ) Tj ET Q
q 0 0 0 rg BT 361.31 628.70 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 411.86 628.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 422.76 628.70 Td (part ) Tj ET Q
q 0 0 0 rg BT 441.81 628.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 452.71 628.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 460.10 628.70 Td (lar) Tj ET Q
q 0 0 0 rg BT 470.99 628.70 Td (ge ) Tj ET Q
q 0 0 0 rg BT 483.63 628.70 Td (outflow ) Tj ET Q
q 0 0 0 rg BT 519.03 628.70 Td (during ) Tj ET Q
q 0 0 0 rg BT 549.17 628.70 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 616.10 Td (June ) Tj ET Q
q 0 0 0 rg BT 75.91 616.10 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 99.57 616.10 Td (quarter) Tj ET Q
q 0 0 0 rg BT 128.88 616.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 134.16 616.10 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 170.06 616.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 180.89 616.10 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 188.21 616.10 Td ($17,413) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 222.33 616.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 224.99 616.10 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 267.31 616.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 278.13 616.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 293.62 616.10 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 336.52 616.10 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 383.50 616.10 Td (consideration ) Tj ET Q
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q 0 0 0 rg BT 474.71 616.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 480.00 616.10 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 519.38 616.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 530.79 616.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 538.11 616.10 Td (credit ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 603.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 63.80 603.50 Td (Contingent ) Tj ET Q
q 0 0 0 rg BT 112.10 603.50 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 170.30 603.50 Td (fair ) Tj ET Q
q 0 0 0 rg BT 186.50 603.50 Td (value ) Tj ET Q
q 0 0 0 rg BT 210.88 603.50 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 262.67 603.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 272.47 603.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 286.93 603.50 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 343.98 603.50 Td (Statement ) Tj ET Q
q 0 0 0 rg BT 387.60 603.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 397.98 603.50 Td (Income ) Tj ET Q
q 0 0 0 rg BT 431.10 603.50 Td (\(Loss\). ) Tj ET Q
q 0 0 0 rg BT 462.19 603.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 463.71 603.50 Td (The ) Tj ET Q
q 0 0 0 rg BT 481.66 603.50 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 525.87 603.50 Td (decrease ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 590.90 Td (during ) Tj ET Q
q 0 0 0 rg BT 83.67 590.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 98.75 590.90 Td (year ) Tj ET Q
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q 0 0 0 rg BT 296.41 590.90 Td (changes ) Tj ET Q
q 0 0 0 rg BT 332.48 590.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 342.91 590.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 357.99 590.90 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 399.89 590.90 Td (rate, ) Tj ET Q
q 0 0 0 rg BT 420.50 590.90 Td (which ) Tj ET Q
q 0 0 0 rg BT 448.42 590.90 Td (is ) Tj ET Q
q 0 0 0 rg BT 457.68 590.90 Td (included ) Tj ET Q
q 0 0 0 rg BT 496.09 590.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 506.02 590.90 Td (Accumulated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 578.30 Td (other ) Tj ET Q
q 0 0 0 rg BT 78.08 578.30 Td (comprehensive ) Tj ET Q
q 0 0 0 rg BT 144.15 578.30 Td (loss, ) Tj ET Q
q 0 0 0 rg BT 165.62 578.30 Td (net, ) Tj ET Q
q 0 0 0 rg BT 183.58 578.30 Td (as ) Tj ET Q
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q 0 0 0 rg BT 269.23 578.30 Td (translation ) Tj ET Q
q 0 0 0 rg BT 316.06 578.30 Td (adjustment, ) Tj ET Q
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q 0 0 0 rg BT 382.60 578.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 393.86 578.30 Td (accretion. ) Tj ET Q
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q 0 0 0 rg BT 458.62 578.30 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 505.45 578.30 Td (consideration ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 565.70 Td (liability ) Tj ET Q
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q 0 0 0 rg BT 169.81 565.70 Td (entity ) Tj ET Q
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q 0 0 0 rg BT 217.44 565.70 Td (an ) Tj ET Q
q 0 0 0 rg BT 229.31 565.70 Td (Australian ) Tj ET Q
q 0 0 0 rg BT 275.57 565.70 Td (dollar ) Tj ET Q
q 0 0 0 rg BT 302.59 565.70 Td (functional ) Tj ET Q
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q 0 0 0 rg BT 383.72 565.70 Td (, ) Tj ET Q
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q 0 0 0 rg BT 410.64 565.70 Td (that ) Tj ET Q
q 0 0 0 rg BT 428.90 565.70 Td (related ) Tj ET Q
q 0 0 0 rg BT 459.99 565.70 Td (changes ) Tj ET Q
q 0 0 0 rg BT 496.33 565.70 Td (in ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 553.10 Td (rate ) Tj ET Q
q 0 0 0 rg BT 72.36 553.10 Td (did ) Tj ET Q
q 0 0 0 rg BT 88.40 553.10 Td (not ) Tj ET Q
q 0 0 0 rg BT 104.45 553.10 Td (impact ) Tj ET Q
q 0 0 0 rg BT 135.64 553.10 Td (net ) Tj ET Q
q 0 0 0 rg BT 151.10 553.10 Td (income ) Tj ET Q
q 0 0 0 rg BT 184.63 553.10 Td (\(loss\). ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 527.90 Td (The ) Tj ET Q
q 0 0 0 rg BT 74.27 527.90 Td (Company ) Tj ET Q
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q 0 0 0 rg BT 505.12 527.90 Td (the ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 515.30 Td (operations ) Tj ET Q
q 0 0 0 rg BT 100.93 515.30 Td (as ) Tj ET Q
q 0 0 0 rg BT 112.87 515.30 Td (reported ) Tj ET Q
q 0 0 0 rg BT 151.05 515.30 Td (in ) Tj ET Q
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q 0 0 0 rg BT 473.42 515.30 Td (have ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 244.96 490.10 Td (18,420) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 273.83 490.10 Td ( ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F3 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 553.27 427.10 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 414.50 Td ($202,577) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 93.38 414.50 Td ( ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 364.32 414.50 Td (�125,000) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 314.90 351.50 Td (contracts ) Tj ET Q
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q 0 0 0 rg BT 564.63 351.50 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 325.81 338.90 Td (with ) Tj ET Q
q 0 0 0 rg BT 346.58 338.90 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 377.25 338.90 Td (Currie. ) Tj ET Q
q 0 0 0 rg BT 408.80 338.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 410.75 338.90 Td (These ) Tj ET Q
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q 0 0 0 rg BT 125.45 326.30 Td (deductible ) Tj ET Q
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q 0 0 0 rg BT 549.18 513.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 500.75 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 112.05 500.75 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 148.51 500.75 Td (Sheet, ) Tj ET Q
q 0 0 0 rg BT 177.10 500.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 188.49 500.75 Td (no ) Tj ET Q
q 0 0 0 rg BT 201.63 500.75 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 248.60 500.75 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 307.80 500.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 326.77 500.75 Td (due ) Tj ET Q
q 0 0 0 rg BT 344.58 500.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 371.12 500.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 384.26 500.75 Td (relevant ) Tj ET Q
q 0 0 0 rg BT 420.72 500.75 Td (financial ) Tj ET Q
q 0 0 0 rg BT 460.09 500.75 Td (metrics. ) Tj ET Q
q 0 0 0 rg BT 496.26 500.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 498.71 500.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 517.68 500.75 Td (contingent ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 488.15 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 113.70 488.15 Td (liability ) Tj ET Q
q 0 0 0 rg BT 149.49 488.15 Td (included ) Tj ET Q
q 0 0 0 rg BT 188.78 488.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 200.07 488.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 216.03 488.15 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 274.57 488.15 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 311.51 488.15 Td (Sheet ) Tj ET Q
q 0 0 0 rg BT 337.97 488.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 349.85 488.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 361.72 488.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 392.26 488.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 408.51 488.15 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 432.64 488.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 452.10 488.15 Td ($12,018. ) Tj ET Q
q 0 0 0 rg BT 491.98 488.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 495.11 488.15 Td (During ) Tj ET Q
q 0 0 0 rg BT 527.98 488.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 543.94 488.15 Td (year ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 475.55 Td (ended ) Tj ET Q
q 0 0 0 rg BT 80.93 475.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 110.19 475.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 125.17 475.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 150.66 475.55 Td (reductions ) Tj ET Q
q 0 0 0 rg BT 196.25 475.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 206.28 475.55 Td (projected ) Tj ET Q
q 0 0 0 rg BT 246.79 475.55 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 273.15 475.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 290.17 475.55 Td (performance ) Tj ET Q
q 0 0 0 rg BT 345.07 475.55 Td (fees ) Tj ET Q
q 0 0 0 rg BT 363.83 475.55 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 398.93 475.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 408.96 475.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 415.47 475.55 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 420.72 475.55 Td (13,355) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 449.60 475.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 451.46 475.55 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 492.97 475.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 502.99 475.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 517.68 475.55 Td (contingent ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 462.95 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 112.00 462.95 Td (liability) Tj ET Q
q 0 0 0 rg BT 143.98 462.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 148.03 462.95 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 186.19 462.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 196.37 462.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 202.46 462.95 Td (credit ) Tj ET Q
q 0 0 0 rg BT 227.79 462.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 237.38 462.95 Td (Contingent ) Tj ET Q
q 0 0 0 rg BT 285.48 462.95 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 343.48 462.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 359.48 462.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 383.64 462.95 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 435.24 462.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 444.83 462.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 459.09 462.95 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 515.93 462.95 Td (Statements ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 450.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 65.34 450.35 Td (Income ) Tj ET Q
q 0 0 0 rg BT 99.42 450.35 Td (\(Loss\). ) Tj ET Q
q 0 0 0 rg BT 131.46 450.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 133.87 450.35 Td (This ) Tj ET Q
q 0 0 0 rg BT 155.13 450.35 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 197.37 450.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 216.29 450.35 Td (of) Tj ET Q
q 0 0 0 rg BT 224.85 450.35 Td (fset ) Tj ET Q
q 0 0 0 rg BT 242.60 450.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 253.36 450.35 Td (part ) Tj ET Q
q 0 0 0 rg BT 272.28 450.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 285.37 450.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 297.87 450.35 Td (increase ) Tj ET Q
q 0 0 0 rg BT 334.86 450.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 346.20 450.35 Td ($1,337) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 375.07 450.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 377.66 450.35 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 428.07 450.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 438.83 450.35 Td (changes ) Tj ET Q
q 0 0 0 rg BT 475.24 450.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 486.00 450.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 501.42 450.35 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 543.65 450.35 Td (rate, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 437.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 82.08 437.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 91.50 437.75 Td (included ) Tj ET Q
q 0 0 0 rg BT 130.08 437.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 140.13 437.75 Td (Accumulated ) Tj ET Q
q 0 0 0 rg BT 198.53 437.75 Td (other ) Tj ET Q
q 0 0 0 rg BT 222.53 437.75 Td (comprehensive ) Tj ET Q
q 0 0 0 rg BT 288.51 437.75 Td (loss, ) Tj ET Q
q 0 0 0 rg BT 309.89 437.75 Td (net, ) Tj ET Q
q 0 0 0 rg BT 327.77 437.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 338.93 437.75 Td (Foreign ) Tj ET Q
q 0 0 0 rg BT 374.02 437.75 Td (currency ) Tj ET Q
q 0 0 0 rg BT 413.16 437.75 Td (translation ) Tj ET Q
q 0 0 0 rg BT 459.91 437.75 Td (adjustment. ) Tj ET Q
q 0 0 0 rg BT 511.03 437.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 512.92 437.75 Td (A) Tj ET Q
q 0 0 0 rg BT 519.92 437.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 522.34 437.75 Td (provision ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 425.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 65.83 425.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 81.74 425.15 Td (share ) Tj ET Q
q 0 0 0 rg BT 106.98 425.15 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 147.38 425.15 Td (agreement ) Tj ET Q
q 0 0 0 rg BT 194.19 425.15 Td (requires ) Tj ET Q
q 0 0 0 rg BT 231.09 425.15 Td (certain ) Tj ET Q
q 0 0 0 rg BT 262.74 425.15 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 301.40 425.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 313.23 425.15 Td (any ) Tj ET Q
q 0 0 0 rg BT 331.48 425.15 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 378.89 425.15 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 438.54 425.15 Td (due ) Tj ET Q
q 0 0 0 rg BT 456.78 425.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 468.03 425.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 481.03 425.15 Td (paid ) Tj ET Q
q 0 0 0 rg BT 502.19 425.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 513.44 425.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 529.35 425.15 Td (pension ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 412.55 Td (plan ) Tj ET Q
q 0 0 0 rg BT 74.71 412.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 85.50 412.55 Td (fund ) Tj ET Q
q 0 0 0 rg BT 107.37 412.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 114.66 412.55 Td (portion ) Tj ET Q
q 0 0 0 rg BT 147.62 412.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 159.00 412.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 174.45 412.55 Td (net ) Tj ET Q
q 0 0 0 rg BT 189.91 412.55 Td (plan ) Tj ET Q
q 0 0 0 rg BT 210.61 412.55 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 242.39 412.55 Td (obligation. ) Tj ET Q
q 0 0 0 rg BT 290.23 412.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 292.85 412.55 Td (No ) Tj ET Q
q 0 0 0 rg BT 308.31 412.55 Td (such ) Tj ET Q
q 0 0 0 rg BT 330.19 412.55 Td (funding ) Tj ET Q
q 0 0 0 rg BT 365.48 412.55 Td (will ) Tj ET Q
q 0 0 0 rg BT 384.44 412.55 Td (occur ) Tj ET Q
q 0 0 0 rg BT 410.39 412.55 Td (because ) Tj ET Q
q 0 0 0 rg BT 446.24 412.55 Td (no ) Tj ET Q
q 0 0 0 rg BT 459.37 412.55 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 506.32 412.55 Td (payments ) Tj ET Q
q 0 0 0 rg BT 549.19 412.55 Td (are ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 399.95 Td (due.) Tj ET Q
BT /F4 10.50 Tf ET
q 0 0 0 rg BT 54.00 374.75 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 85.79 374.75 Td (Currie ) Tj ET Q
q 0 0 0 rg BT 116.42 374.75 Td (Defined ) Tj ET Q
q 0 0 0 rg BT 152.29 374.75 Td (Benefit ) Tj ET Q
q 0 0 0 rg BT 184.65 374.75 Td (Pension ) Tj ET Q
q 0 0 0 rg BT 221.10 374.75 Td (Plan) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 362.15 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 85.30 362.15 Td (Currie ) Tj ET Q
q 0 0 0 rg BT 114.85 362.15 Td (sponsors ) Tj ET Q
q 0 0 0 rg BT 154.32 362.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 161.70 362.15 Td (retirement ) Tj ET Q
q 0 0 0 rg BT 207.57 362.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 225.45 362.15 Td (death ) Tj ET Q
q 0 0 0 rg BT 250.91 362.15 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 286.87 362.15 Td (plan, ) Tj ET Q
q 0 0 0 rg BT 310.30 362.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 317.68 362.15 Td (defined ) Tj ET Q
q 0 0 0 rg BT 351.89 362.15 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 383.76 362.15 Td (pension ) Tj ET Q
q 0 0 0 rg BT 419.15 362.15 Td (plan ) Tj ET Q
q 0 0 0 rg BT 439.94 362.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 461.33 362.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 488.55 362.15 Td (held ) Tj ET Q
q 0 0 0 rg BT 509.35 362.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 520.24 362.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 527.62 362.15 Td (separate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 349.55 Td (trustee-administered ) Tj ET Q
q 0 0 0 rg BT 142.87 349.55 Td (fund. ) Tj ET Q
q 0 0 0 rg BT 167.89 349.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 171.04 349.55 Td (Plan ) Tj ET Q
q 0 0 0 rg BT 192.85 349.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 220.50 349.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 236.46 349.55 Td (measured ) Tj ET Q
q 0 0 0 rg BT 279.84 349.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 290.57 349.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 308.29 349.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 334.18 349.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 352.48 349.55 Td (comprised ) Tj ET Q
q 0 0 0 rg BT 399.37 349.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 411.27 349.55 Td (64%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 430.51 349.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 433.66 349.55 Td (equities ) Tj ET Q
q 0 0 0 rg BT 469.47 349.55 Td (\(Level ) Tj ET Q
q 0 0 0 rg BT 500.02 349.55 Td (1\), ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 514.54 349.55 Td (35%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.78 349.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 536.93 349.55 Td (bonds ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 336.95 Td (\(Level ) Tj ET Q
q 0 0 0 rg BT 83.78 336.95 Td (2\), ) Tj ET Q
q 0 0 0 rg BT 97.54 336.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 115.09 336.95 Td (1%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 129.08 336.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 131.47 336.95 Td (cash ) Tj ET Q
q 0 0 0 rg BT 152.51 336.95 Td (\(Level ) Tj ET Q
q 0 0 0 rg BT 182.30 336.95 Td (1\), ) Tj ET Q
q 0 0 0 rg BT 196.05 336.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 207.19 336.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 218.32 336.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 248.11 336.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 263.62 336.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 289.63 336.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 307.17 336.95 Td (65%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 326.42 336.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 328.81 336.95 Td (equities ) Tj ET Q
q 0 0 0 rg BT 363.85 336.95 Td (\(Level ) Tj ET Q
q 0 0 0 rg BT 393.64 336.95 Td (1\) ) Tj ET Q
q 0 0 0 rg BT 404.77 336.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 422.31 336.95 Td (35%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 441.56 336.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 443.95 336.95 Td (bonds ) Tj ET Q
q 0 0 0 rg BT 471.42 336.95 Td (\(Level ) Tj ET Q
q 0 0 0 rg BT 501.20 336.95 Td (2\) ) Tj ET Q
q 0 0 0 rg BT 512.33 336.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 523.47 336.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 534.60 336.95 Td (March ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 324.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 69.96 324.35 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 96.43 324.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 98.64 324.35 Td (Assumptions ) Tj ET Q
q 0 0 0 rg BT 156.32 324.35 Td (used ) Tj ET Q
q 0 0 0 rg BT 178.41 324.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 189.41 324.35 Td (determine ) Tj ET Q
q 0 0 0 rg BT 234.23 324.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 249.90 324.35 Td (expected ) Tj ET Q
q 0 0 0 rg BT 290.04 324.35 Td (return ) Tj ET Q
q 0 0 0 rg BT 317.95 324.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 331.29 324.35 Td (plan ) Tj ET Q
q 0 0 0 rg BT 352.21 324.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 379.54 324.35 Td (tar) Tj ET Q
q 0 0 0 rg BT 390.43 324.35 Td (gets ) Tj ET Q
q 0 0 0 rg BT 410.18 324.35 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 417.68 324.35 Td (60%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 436.93 324.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 439.76 324.35 Td (/ ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 445.52 324.35 Td (40%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 464.77 324.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 467.60 324.35 Td (equity/bond ) Tj ET Q
q 0 0 0 rg BT 520.60 324.35 Td (allocation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 311.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 74.96 311.75 Td (reference ) Tj ET Q
q 0 0 0 rg BT 116.29 311.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 126.75 311.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 141.87 311.75 Td (15-year ) Tj ET Q
q 0 0 0 rg BT 176.22 311.75 Td (FTSE ) Tj ET Q
q 0 0 0 rg BT 203.02 311.75 Td (U.K. ) Tj ET Q
q 0 0 0 rg BT 225.73 311.75 Td (Gilt ) Tj ET Q
q 0 0 0 rg BT 244.35 311.75 Td (yield ) Tj ET Q
q 0 0 0 rg BT 267.64 311.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 282.17 311.75 Td (equities ) Tj ET Q
q 0 0 0 rg BT 317.13 311.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 334.58 311.75 Td (U.K. ) Tj ET Q
q 0 0 0 rg BT 357.28 311.75 Td (long-dated ) Tj ET Q
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q 0 0 0 rg BT 427.77 311.75 Td (yields ) Tj ET Q
q 0 0 0 rg BT 455.14 311.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 469.67 311.75 Td (bonds. ) Tj ET Q
q 0 0 0 rg BT 499.67 311.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 501.97 311.75 Td (Plan ) Tj ET Q
q 0 0 0 rg BT 522.92 311.75 Td (liabilities ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 299.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 69.62 299.15 Td (measured ) Tj ET Q
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q 0 0 0 rg BT 125.97 299.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 138.68 299.15 Td (actuarial ) Tj ET Q
q 0 0 0 rg BT 177.63 299.15 Td (basis ) Tj ET Q
q 0 0 0 rg BT 201.44 299.15 Td (using ) Tj ET Q
q 0 0 0 rg BT 227.00 299.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 242.63 299.15 Td (projected ) Tj ET Q
q 0 0 0 rg BT 284.50 299.15 Td (unit ) Tj ET Q
q 0 0 0 rg BT 303.64 299.15 Td (method ) Tj ET Q
q 0 0 0 rg BT 337.94 299.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 355.91 299.15 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 404.21 299.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 414.59 299.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 422.06 299.15 Td (rate ) Tj ET Q
q 0 0 0 rg BT 440.60 299.15 Td (equivalent ) Tj ET Q
q 0 0 0 rg BT 487.14 299.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 498.11 299.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 513.74 299.15 Td (current ) Tj ET Q
q 0 0 0 rg BT 546.28 299.15 Td (rate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 286.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 67.71 286.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 75.59 286.55 Td (high-quality ) Tj ET Q
q 0 0 0 rg BT 130.13 286.55 Td (bond ) Tj ET Q
q 0 0 0 rg BT 154.34 286.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 165.72 286.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 181.76 286.55 Td (local ) Tj ET Q
q 0 0 0 rg BT 205.38 286.55 Td (U.K. ) Tj ET Q
q 0 0 0 rg BT 229.01 286.55 Td (market ) Tj ET Q
q 0 0 0 rg BT 261.38 286.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 279.75 286.55 Td (currency) Tj ET Q
q 0 0 0 rg BT 315.80 286.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 321.63 286.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 324.62 286.55 Td (There ) Tj ET Q
q 0 0 0 rg BT 352.31 286.55 Td (were ) Tj ET Q
q 0 0 0 rg BT 375.93 286.55 Td (no ) Tj ET Q
q 0 0 0 rg BT 389.64 286.55 Td (significant ) Tj ET Q
q 0 0 0 rg BT 437.18 286.55 Td (concentrations ) Tj ET Q
q 0 0 0 rg BT 501.62 286.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 513.58 286.55 Td (risk ) Tj ET Q
q 0 0 0 rg BT 532.54 286.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 543.92 286.55 Td (plan ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 273.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 81.19 273.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 92.62 273.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 104.06 273.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 134.15 273.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 149.97 273.95 Td (2018 ) Tj ET Q
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3 M
405.5 633.6 m
483.5 633.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
405.5 619.6 m
483.5 619.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
483.5 633.6 m
487.5 633.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
483.5 619.6 m
487.5 619.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
487.5 633.6 m
566.5 633.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
487.5 619.6 m
566.5 619.6 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 437.00 721.82 Td (Y) Tj ET Q
q 0 0 0 rg BT 444.06 721.82 Td (ears ended March 31,) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 433.50 707.99 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 516.00 707.82 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 693.82 Td (Beginning benefit obligation) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 408.00 694.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 452.00 694.17 Td (97,137) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 490.00 693.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.60 693.82 Td (90,010) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 679.82 Td (Interest costs) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 455.85 679.82 Td (2,763) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 538.85 679.82 Td (2,904) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 665.82 Td (Actuarial \(gain\) loss) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 452.35 665.82 Td (\(6,245) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 479.50 665.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.60 665.82 Td (18,308) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 651.82 Td (Benefits paid) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 452.35 651.82 Td (\(2,451) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 479.50 651.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 535.35 651.82 Td (\(1,946) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 562.50 651.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 637.82 Td (Exchange rate changes) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 450.60 637.82 Td (1) Tj ET Q
q 0 0 0 rg BT 455.85 637.82 Td (1,265) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.10 637.82 Td (\(12,139) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 562.50 637.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 623.82 Td (Ending benefit obligation) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 408.00 623.99 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 445.35 623.99 Td (102,469) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 486.00 623.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 490.00 623.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.60 623.82 Td (97,137) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 54.00 601.10 Td (The change in plan assets is summarized below:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
54.50 562.60 349.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.50 562.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
407.50 562.60 78.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
485.50 562.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
489.50 562.60 77.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
54.50 534.60 349.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.50 534.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
407.50 534.60 78.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
485.50 534.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
489.50 534.60 77.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
54.50 506.60 349.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.50 506.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
407.50 506.60 78.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
485.50 506.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
489.50 506.60 77.00 -14.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
54.5 576.6 m
403.5 576.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
407.5 576.6 m
485.5 576.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
54.5 562.6 m
403.5 562.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
407.5 576.6 m
485.5 576.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
407.5 562.6 m
485.5 562.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
485.5 576.6 m
489.5 576.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489.5 576.6 m
566.5 576.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489.5 562.6 m
566.5 562.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
54.5 492.6 m
403.5 492.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
54.5 492.6 m
403.5 492.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
54.5 478.6 m
403.5 478.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
407.5 492.6 m
485.5 492.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
407.5 478.6 m
485.5 478.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
485.5 492.6 m
489.5 492.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489.5 492.6 m
566.5 492.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489.5 478.6 m
566.5 478.6 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 438.00 580.82 Td (Y) Tj ET Q
q 0 0 0 rg BT 444.53 580.82 Td (ears ended March 31,) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 435.50 566.99 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 517.00 566.82 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 552.82 Td (Beginning plan assets) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 410.00 552.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 452.60 552.82 Td (59,623) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 492.00 552.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.60 552.82 Td (57,253) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 538.82 Td (Actual return on plan assets) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 457.85 538.82 Td (1,199) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.60 538.82 Td (10,019) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 524.82 Td (Employer contributions) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 457.85 524.82 Td (1,934) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 538.85 524.82 Td (1,945) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 510.82 Td (Benefits paid) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 454.35 510.82 Td (\(2,451) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 481.50 510.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 535.35 510.82 Td (\(1,946) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 562.50 510.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 496.82 Td (Exchange rate changes) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 457.85 496.82 Td (7,224) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 535.35 496.82 Td (\(7,648) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 562.50 496.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 57.00 482.82 Td (Ending plan assets) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 410.00 482.99 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 452.60 482.99 Td (67,529) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 492.00 482.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.60 482.82 Td (59,623) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 447.50 Td (For ) Tj ET Q
q 0 0 0 rg BT 71.49 447.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 87.23 447.50 Td (years ) Tj ET Q
q 0 0 0 rg BT 112.29 447.50 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 140.27 447.50 Td (March ) Tj ET Q
q 0 0 0 rg BT 170.59 447.50 Td (31, ) Tj ET Q
q 0 0 0 rg BT 186.62 447.50 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 207.62 447.50 Td (, ) Tj ET Q
q 0 0 0 rg BT 213.15 447.50 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 239.69 447.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 257.75 447.50 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 284.29 447.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 291.86 447.50 Td (net ) Tj ET Q
q 0 0 0 rg BT 307.59 447.50 Td (periodic ) Tj ET Q
q 0 0 0 rg BT 344.90 447.50 Td (\(benefit\) ) Tj ET Q
q 0 0 0 rg BT 383.96 447.50 Td (cost ) Tj ET Q
q 0 0 0 rg BT 403.78 447.50 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 415.44 447.50 Td ($\(389\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 443.43 447.50 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.70 447.50 Td ($93) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 464.45 447.50 Td (, ) Tj ET Q
q 0 0 0 rg BT 469.98 447.50 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 488.05 447.50 Td ($92) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 503.80 447.50 Td (, ) Tj ET Q
q 0 0 0 rg BT 509.33 447.50 Td (respectively) Tj ET Q
q 0 0 0 rg BT 559.38 447.50 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 434.90 Td (was ) Tj ET Q
q 0 0 0 rg BT 72.96 434.90 Td (included ) Tj ET Q
q 0 0 0 rg BT 111.74 434.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 122.53 434.90 Td (Compensation ) Tj ET Q
q 0 0 0 rg BT 185.82 434.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 203.60 434.90 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 239.47 434.90 Td (expense ) Tj ET Q
q 0 0 0 rg BT 275.91 434.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 286.70 434.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 302.16 434.90 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 360.19 434.90 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 408.90 434.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 420.27 434.90 Td (Income ) Tj ET Q
q 0 0 0 rg BT 454.38 434.90 Td (\(Loss\). ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 54.00 410.30 Td (The ) Tj ET Q
q 0 0 0 rg BT 74.01 410.30 Td (components ) Tj ET Q
q 0 0 0 rg BT 126.80 410.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 139.59 410.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 156.27 410.30 Td (net ) Tj ET Q
q 0 0 0 rg BT 172.95 410.30 Td (periodic ) Tj ET Q
q 0 0 0 rg BT 210.17 410.30 Td (loss ) Tj ET Q
q 0 0 0 rg BT 230.19 410.30 Td (\(gain\) ) Tj ET Q
q 0 0 0 rg BT 258.53 410.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 274.66 410.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 291.33 410.30 Td (years ) Tj ET Q
q 0 0 0 rg BT 316.89 410.30 Td (ended ) Tj ET Q
q 0 0 0 rg BT 345.23 410.30 Td (March ) Tj ET Q
q 0 0 0 rg BT 375.79 410.30 Td (31, ) Tj ET Q
q 0 0 0 rg BT 392.76 410.30 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 419.72 410.30 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 446.68 410.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 465.58 410.30 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 492.54 410.30 Td (were ) Tj ET Q
q 0 0 0 rg BT 516.43 410.30 Td (as ) Tj ET Q
q 0 0 0 rg BT 529.22 410.30 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
54.50 385.80 316.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.50 385.80 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.50 385.80 60.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.50 385.80 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.50 385.80 60.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.50 385.80 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.50 385.80 61.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
54.50 357.80 316.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.50 357.80 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.50 357.80 60.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.50 357.80 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.50 357.80 60.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.50 357.80 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.50 357.80 61.00 -14.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
54.5 385.8 m
370.5 385.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374.5 385.8 m
434.5 385.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438.5 385.8 m
498.5 385.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502.5 385.8 m
563.5 385.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438.5 385.8 m
498.5 385.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502.5 385.8 m
563.5 385.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
54.5 357.8 m
370.5 357.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
54.5 343.8 m
370.5 343.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374.5 357.8 m
434.5 357.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374.5 343.8 m
434.5 343.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438.5 357.8 m
498.5 357.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438.5 343.8 m
498.5 343.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502.5 357.8 m
563.5 357.8 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502.5 343.8 m
563.5 343.8 l
s
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 394.00 390.48 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 458.00 390.37 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 522.50 390.37 Td (2016) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 57.00 376.37 Td (Interest costs) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 377.00 376.48 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 408.15 376.48 Td (2,763) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 441.00 376.37 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 472.15 376.37 Td (2,904) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 505.00 376.37 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 537.15 376.37 Td (3,268) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 57.00 362.37 Td (Expected return on plan assets) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 404.80 362.53 Td (\(3,152) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 430.65 362.48 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 468.80 362.42 Td (\(2,81) Tj ET Q
q 0 0 0 rg BT 489.63 362.42 Td (1) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 494.65 362.37 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 533.80 362.42 Td (\(3,176) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 559.65 362.37 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 57.00 348.37 Td (Net periodic \(benefit\) cost) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 377.00 348.48 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 412.30 348.53 Td (\(389) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 430.65 348.48 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 441.00 348.37 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 484.65 348.37 Td (93) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 300.56 324.70 Td (Accumulated ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 294.17 312.10 Td (.) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 144.26 73.10 Td ($3,256) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 173.13 73.10 Td ( ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 401.46 73.10 Td (�2,320) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 430.34 73.10 Td ( ) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 379.63 704.30 Td (term. ) Tj ET Q
q 0 0 0 rg BT 404.33 704.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 407.15 704.30 Td (Because ) Tj ET Q
q 0 0 0 rg BT 444.96 704.30 Td (no ) Tj ET Q
q 0 0 0 rg BT 458.29 704.30 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 505.43 704.30 Td (consideration ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 691.70 Td (was ) Tj ET Q
q 0 0 0 rg BT 73.41 691.70 Td (due, ) Tj ET Q
q 0 0 0 rg BT 94.27 691.70 Td (no ) Tj ET Q
q 0 0 0 rg BT 107.85 691.70 Td (payments ) Tj ET Q
q 0 0 0 rg BT 151.17 691.70 Td (are ) Tj ET Q
q 0 0 0 rg BT 167.06 691.70 Td (due ) Tj ET Q
q 0 0 0 rg BT 185.30 691.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 196.55 691.70 Td (employees ) Tj ET Q
q 0 0 0 rg BT 244.53 691.70 Td (under ) Tj ET Q
q 0 0 0 rg BT 271.51 691.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 287.42 691.70 Td (arrangement ) Tj ET Q
q 0 0 0 rg BT 342.97 691.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 361.21 691.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 377.11 691.70 Td (related ) Tj ET Q
q 0 0 0 rg BT 408.75 691.70 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 470.15 691.70 Td (expense ) Tj ET Q
q 0 0 0 rg BT 507.05 691.70 Td (was ) Tj ET Q
q 0 0 0 rg BT 526.46 691.70 Td (reversed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 679.10 Td (during ) Tj ET Q
q 0 0 0 rg BT 84.04 679.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 99.49 679.10 Td (year ) Tj ET Q
q 0 0 0 rg BT 120.19 679.10 Td (ended ) Tj ET Q
q 0 0 0 rg BT 147.88 679.10 Td (March ) Tj ET Q
q 0 0 0 rg BT 177.91 679.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 193.66 679.10 Td (2018.) Tj ET Q
BT /F4 10.50 Tf ET
q 0 0 0 rg BT 54.00 653.90 Td (Other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 641.30 Td (In ) Tj ET Q
q 0 0 0 rg BT 66.50 641.30 Td (December ) Tj ET Q
q 0 0 0 rg BT 113.40 641.30 Td (2015, ) Tj ET Q
q 0 0 0 rg BT 140.77 641.30 Td (Martin ) Tj ET Q
q 0 0 0 rg BT 173.11 641.30 Td (Currie ) Tj ET Q
q 0 0 0 rg BT 203.69 641.30 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 243.59 641.30 Td (certain ) Tj ET Q
q 0 0 0 rg BT 275.90 641.30 Td (assets ) Tj ET Q
q 0 0 0 rg BT 304.16 641.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 316.66 641.30 Td (PK ) Tj ET Q
q 0 0 0 rg BT 333.84 641.30 Td (Investment ) Tj ET Q
q 0 0 0 rg BT 384.25 641.30 Td (Management, ) Tj ET Q
q 0 0 0 rg BT 445.44 641.30 Td (LLP) Tj ET Q
q 0 0 0 rg BT 463.72 641.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 467.47 641.30 Td (\("PK ) Tj ET Q
q 0 0 0 rg BT 492.43 641.30 Td (Investments"\), ) Tj ET Q
q 0 0 0 rg BT 557.34 641.30 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 628.70 Td (London ) Tj ET Q
q 0 0 0 rg BT 88.92 628.70 Td (based ) Tj ET Q
q 0 0 0 rg BT 115.08 628.70 Td (equity ) Tj ET Q
q 0 0 0 rg BT 143.58 628.70 Td (manager) Tj ET Q
q 0 0 0 rg BT 179.31 628.70 Td (, ) Tj ET Q
q 0 0 0 rg BT 184.19 628.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 198.68 628.70 Td (an ) Tj ET Q
q 0 0 0 rg BT 210.85 628.70 Td (initial ) Tj ET Q
q 0 0 0 rg BT 237.60 628.70 Td (cash ) Tj ET Q
q 0 0 0 rg BT 258.51 628.70 Td (payment ) Tj ET Q
q 0 0 0 rg BT 296.92 628.70 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 307.92 628.70 Td ($4,981) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 336.80 628.70 Td (. ) Tj ET Q
q 0 0 0 rg BT 341.68 628.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 343.93 628.70 Td (During ) Tj ET Q
q 0 0 0 rg BT 375.93 628.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 391.02 628.70 Td (year ) Tj ET Q
q 0 0 0 rg BT 411.34 628.70 Td (ended ) Tj ET Q
q 0 0 0 rg BT 438.67 628.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 468.32 628.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 483.70 628.70 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 509.58 628.70 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 533.41 628.70 Td (Mason ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 616.10 Td (paid ) Tj ET Q
q 0 0 0 rg BT 75.95 616.10 Td (all ) Tj ET Q
q 0 0 0 rg BT 90.32 616.10 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 138.52 616.10 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 198.96 616.10 Td (due ) Tj ET Q
q 0 0 0 rg BT 218.00 616.10 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 230.62 616.10 Td ($3,242) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 259.49 616.10 Td (. ) Tj ET Q
q 0 0 0 rg BT 265.99 616.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 269.59 616.10 Td (The ) Tj ET Q
q 0 0 0 rg BT 289.79 616.10 Td (cash ) Tj ET Q
q 0 0 0 rg BT 312.32 616.10 Td (payments ) Tj ET Q
q 0 0 0 rg BT 356.44 616.10 Td (were ) Tj ET Q
q 0 0 0 rg BT 380.71 616.10 Td (funded ) Tj ET Q
q 0 0 0 rg BT 413.74 616.10 Td (with ) Tj ET Q
q 0 0 0 rg BT 436.29 616.10 Td (existing ) Tj ET Q
q 0 0 0 rg BT 473.41 616.10 Td (cash ) Tj ET Q
q 0 0 0 rg BT 495.94 616.10 Td (resources. ) Tj ET Q
q 0 0 0 rg BT 542.09 616.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 545.69 616.10 Td (The ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 603.50 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 102.00 603.50 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 162.24 603.50 Td (liability ) Tj ET Q
q 0 0 0 rg BT 198.57 603.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 210.99 603.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 223.41 603.50 Td (March ) Tj ET Q
q 0 0 0 rg BT 254.49 603.50 Td (31, ) Tj ET Q
q 0 0 0 rg BT 271.29 603.50 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 295.96 603.50 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 315.96 603.50 Td ($2,507) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 344.84 603.50 Td (. ) Tj ET Q
q 0 0 0 rg BT 351.13 603.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 354.81 603.50 Td (In ) Tj ET Q
q 0 0 0 rg BT 367.22 603.50 Td (connection ) Tj ET Q
q 0 0 0 rg BT 416.96 603.50 Td (with ) Tj ET Q
q 0 0 0 rg BT 439.30 603.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 455.80 603.50 Td (acquisition, ) Tj ET Q
q 0 0 0 rg BT 508.18 603.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 533.43 603.50 Td (Mason ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 590.90 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 102.68 590.90 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 163.03 590.90 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 207.65 590.90 Td (fund ) Tj ET Q
q 0 0 0 rg BT 229.52 590.90 Td (management ) Tj ET Q
q 0 0 0 rg BT 285.79 590.90 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 326.32 590.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 344.10 590.90 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 384.06 590.90 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 395.43 590.90 Td ($6,619) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 424.31 590.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 426.93 590.90 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 444.72 590.90 Td ($827) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 465.72 590.90 Td (, ) Tj ET Q
q 0 0 0 rg BT 470.97 590.90 Td (respectively) Tj ET Q
q 0 0 0 rg BT 521.02 590.90 Td (.) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 54.00 565.70 Td (QS ) Tj ET Q
q 0 0 0 rg BT 70.05 565.70 Td (Investors ) Tj ET Q
q 0 0 0 rg BT 112.35 565.70 Td (Holdings, ) Tj ET Q
q 0 0 0 rg BT 157.28 565.70 Td (LLC) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 553.10 Td (Ef) Tj ET Q
q 0 0 0 rg BT 63.72 553.10 Td (fective ) Tj ET Q
q 0 0 0 rg BT 94.03 553.10 Td (May ) Tj ET Q
q 0 0 0 rg BT 115.02 553.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 129.89 553.10 Td (2014, ) Tj ET Q
q 0 0 0 rg BT 155.26 553.10 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 178.58 553.10 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 208.91 553.10 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 246.81 553.10 Td (all ) Tj ET Q
q 0 0 0 rg BT 259.05 553.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 269.54 553.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 284.11 553.10 Td (outstanding ) Tj ET Q
q 0 0 0 rg BT 334.86 553.10 Td (equity ) Tj ET Q
q 0 0 0 rg BT 362.85 553.10 Td (interests ) Tj ET Q
q 0 0 0 rg BT 399.59 553.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 410.08 553.10 Td (QS ) Tj ET Q
q 0 0 0 rg BT 425.25 553.10 Td (Investors, ) Tj ET Q
q 0 0 0 rg BT 468.11 553.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 474.52 553.10 Td (customized ) Tj ET Q
q 0 0 0 rg BT 524.09 553.10 Td (solutions ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 540.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 71.61 540.50 Td (global ) Tj ET Q
q 0 0 0 rg BT 100.30 540.50 Td (quantitative ) Tj ET Q
q 0 0 0 rg BT 152.32 540.50 Td (equities ) Tj ET Q
q 0 0 0 rg BT 187.43 540.50 Td (provider) Tj ET Q
q 0 0 0 rg BT 222.42 540.50 Td (. ) Tj ET Q
q 0 0 0 rg BT 227.49 540.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 229.77 540.50 Td (The ) Tj ET Q
q 0 0 0 rg BT 248.54 540.50 Td (initial ) Tj ET Q
q 0 0 0 rg BT 275.48 540.50 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 315.25 540.50 Td (price ) Tj ET Q
q 0 0 0 rg BT 338.68 540.50 Td (was ) Tj ET Q
q 0 0 0 rg BT 357.46 540.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 364.57 540.50 Td (cash ) Tj ET Q
q 0 0 0 rg BT 385.67 540.50 Td (payment ) Tj ET Q
q 0 0 0 rg BT 424.28 540.50 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 435.47 540.50 Td ($1) Tj ET Q
q 0 0 0 rg BT 445.58 540.50 Td (1,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 469.21 540.50 Td (, ) Tj ET Q
q 0 0 0 rg BT 474.28 540.50 Td (funded ) Tj ET Q
q 0 0 0 rg BT 505.89 540.50 Td (from ) Tj ET Q
q 0 0 0 rg BT 528.75 540.50 Td (existing ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 527.90 Td (cash. ) Tj ET Q
q 0 0 0 rg BT 77.01 527.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 78.74 527.90 Td (In ) Tj ET Q
q 0 0 0 rg BT 88.83 527.90 Td (August ) Tj ET Q
q 0 0 0 rg BT 120.90 527.90 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 146.25 527.90 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 169.56 527.90 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 199.87 527.90 Td (paid ) Tj ET Q
q 0 0 0 rg BT 219.68 527.90 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 265.73 527.90 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 324.03 527.90 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 334.50 527.90 Td ($6,587) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 363.38 527.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 365.11 527.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 379.08 527.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 393.64 527.90 Td (second ) Tj ET Q
q 0 0 0 rg BT 424.52 527.90 Td (anniversary ) Tj ET Q
q 0 0 0 rg BT 475.23 527.90 Td (payment. ) Tj ET Q
q 0 0 0 rg BT 515.74 527.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 517.09 527.90 Td (Additional ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 515.30 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 101.36 515.30 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 160.96 515.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 172.74 515.30 Td (up ) Tj ET Q
q 0 0 0 rg BT 186.27 515.30 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 197.47 515.30 Td ($20,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 231.59 515.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 234.63 515.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 249.90 515.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 265.76 515.30 Td (fourth ) Tj ET Q
q 0 0 0 rg BT 294.46 515.30 Td (anniversary ) Tj ET Q
q 0 0 0 rg BT 346.47 515.30 Td (payment, ) Tj ET Q
q 0 0 0 rg BT 388.28 515.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 406.48 515.30 Td (up ) Tj ET Q
q 0 0 0 rg BT 420.01 515.30 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 431.21 515.30 Td ($3,400) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 460.08 515.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 463.12 515.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 478.39 515.30 Td (a ) Tj ET Q
q 0 0 0 rg BT 486.09 515.30 Td (potential ) Tj ET Q
q 0 0 0 rg BT 525.86 515.30 Td (catch-up ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 502.70 Td (adjustment ) Tj ET Q
q 0 0 0 rg BT 102.06 502.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 116.28 502.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 131.09 502.70 Td (second ) Tj ET Q
q 0 0 0 rg BT 162.23 502.70 Td (anniversary ) Tj ET Q
q 0 0 0 rg BT 213.19 502.70 Td (payment ) Tj ET Q
q 0 0 0 rg BT 251.33 502.70 Td (shortfall, ) Tj ET Q
q 0 0 0 rg BT 290.93 502.70 Td (may ) Tj ET Q
q 0 0 0 rg BT 310.99 502.70 Td (be ) Tj ET Q
q 0 0 0 rg BT 322.88 502.70 Td (due ) Tj ET Q
q 0 0 0 rg BT 340.02 502.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 350.17 502.70 Td (July ) Tj ET Q
q 0 0 0 rg BT 369.66 502.70 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 395.26 502.70 Td (dependent ) Tj ET Q
q 0 0 0 rg BT 440.40 502.70 Td (on ) Tj ET Q
q 0 0 0 rg BT 452.88 502.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 467.69 502.70 Td (achievement ) Tj ET Q
q 0 0 0 rg BT 522.72 502.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 533.45 502.70 Td (certain ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 490.10 Td (net ) Tj ET Q
q 0 0 0 rg BT 69.45 490.10 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 105.31 490.10 Td (tar) Tj ET Q
q 0 0 0 rg BT 116.19 490.10 Td (gets.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 464.90 Td (The ) Tj ET Q
q 0 0 0 rg BT 72.04 464.90 Td (fair ) Tj ET Q
q 0 0 0 rg BT 88.32 464.90 Td (value ) Tj ET Q
q 0 0 0 rg BT 112.77 464.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 123.23 464.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 137.76 464.90 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 189.03 464.90 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 232.74 464.90 Td (asset ) Tj ET Q
q 0 0 0 rg BT 254.86 464.90 Td (management ) Tj ET Q
q 0 0 0 rg BT 310.21 464.90 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 349.83 464.90 Td (had ) Tj ET Q
q 0 0 0 rg BT 366.70 464.90 Td (a ) Tj ET Q
q 0 0 0 rg BT 373.07 464.90 Td (useful ) Tj ET Q
q 0 0 0 rg BT 400.44 464.90 Td (life ) Tj ET Q
q 0 0 0 rg BT 416.14 464.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 426.60 464.90 Td (10 ) Tj ET Q
q 0 0 0 rg BT 438.81 464.90 Td (years ) Tj ET Q
q 0 0 0 rg BT 462.68 464.90 Td (at ) Tj ET Q
q 0 0 0 rg BT 471.97 464.90 Td (acquisition. ) Tj ET Q
q 0 0 0 rg BT 522.38 464.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 524.09 464.90 Td (Purchase ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 452.30 Td (price ) Tj ET Q
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q 0 0 0 rg BT 120.08 452.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 131.85 452.30 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 172.78 452.30 Td (is ) Tj ET Q
q 0 0 0 rg BT 183.38 452.30 Td (expected ) Tj ET Q
q 0 0 0 rg BT 224.29 452.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 236.06 452.30 Td (be ) Tj ET Q
q 0 0 0 rg BT 249.57 452.30 Td (deductible ) Tj ET Q
q 0 0 0 rg BT 296.90 452.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 312.74 452.30 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 335.02 452.30 Td (tax ) Tj ET Q
q 0 0 0 rg BT 351.44 452.30 Td (purposes ) Tj ET Q
q 0 0 0 rg BT 392.37 452.30 Td (over ) Tj ET Q
q 0 0 0 rg BT 414.63 452.30 Td (a ) Tj ET Q
q 0 0 0 rg BT 422.89 452.30 Td (period ) Tj ET Q
q 0 0 0 rg BT 453.31 452.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 465.66 452.30 Td (15 ) Tj ET Q
q 0 0 0 rg BT 479.76 452.30 Td (years. ) Tj ET Q
q 0 0 0 rg BT 508.14 452.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 511.73 452.30 Td (Goodwill ) Tj ET Q
q 0 0 0 rg BT 555.00 452.30 Td (is ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 439.70 Td (principally ) Tj ET Q
q 0 0 0 rg BT 102.11 439.70 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 152.55 439.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 163.35 439.70 Td (syner) Tj ET Q
q 0 0 0 rg BT 185.90 439.70 Td (gies ) Tj ET Q
q 0 0 0 rg BT 205.44 439.70 Td (expected ) Tj ET Q
q 0 0 0 rg BT 245.38 439.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 256.17 439.70 Td (arise ) Tj ET Q
q 0 0 0 rg BT 278.61 439.70 Td (with ) Tj ET Q
q 0 0 0 rg BT 299.91 439.70 Td (QS ) Tj ET Q
q 0 0 0 rg BT 315.96 439.70 Td (Investors.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 414.50 Td (Management ) Tj ET Q
q 0 0 0 rg BT 111.39 414.50 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 154.20 414.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 169.60 414.50 Td (fair ) Tj ET Q
q 0 0 0 rg BT 186.74 414.50 Td (values ) Tj ET Q
q 0 0 0 rg BT 216.14 414.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 227.46 414.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 242.86 414.50 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 294.99 414.50 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 339.55 414.50 Td (asset ) Tj ET Q
q 0 0 0 rg BT 362.54 414.50 Td (management ) Tj ET Q
q 0 0 0 rg BT 418.75 414.50 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 459.23 414.50 Td (based ) Tj ET Q
q 0 0 0 rg BT 485.71 414.50 Td (upon ) Tj ET Q
q 0 0 0 rg BT 509.28 414.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 516.51 414.50 Td (discounted ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 401.90 Td (cash ) Tj ET Q
q 0 0 0 rg BT 74.99 401.90 Td (flow ) Tj ET Q
q 0 0 0 rg BT 96.58 401.90 Td (analysis, ) Tj ET Q
q 0 0 0 rg BT 135.37 401.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 152.87 401.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 168.03 401.90 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 214.69 401.90 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 273.59 401.90 Td (expected ) Tj ET Q
q 0 0 0 rg BT 313.24 401.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 323.74 401.90 Td (be ) Tj ET Q
q 0 0 0 rg BT 335.99 401.90 Td (paid ) Tj ET Q
q 0 0 0 rg BT 356.41 401.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 373.90 401.90 Td (discounted, ) Tj ET Q
q 0 0 0 rg BT 424.36 401.90 Td (based ) Tj ET Q
q 0 0 0 rg BT 450.60 401.90 Td (upon ) Tj ET Q
q 0 0 0 rg BT 473.94 401.90 Td (probability-weighted ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 389.30 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 89.17 389.30 Td (projections, ) Tj ET Q
q 0 0 0 rg BT 140.39 389.30 Td (using ) Tj ET Q
q 0 0 0 rg BT 165.08 389.30 Td (unobservable ) Tj ET Q
q 0 0 0 rg BT 223.00 389.30 Td (market ) Tj ET Q
q 0 0 0 rg BT 254.09 389.30 Td (data ) Tj ET Q
q 0 0 0 rg BT 273.52 389.30 Td (inputs, ) Tj ET Q
q 0 0 0 rg BT 303.75 389.30 Td (which ) Tj ET Q
q 0 0 0 rg BT 331.35 389.30 Td (are ) Tj ET Q
q 0 0 0 rg BT 346.11 389.30 Td (Level ) Tj ET Q
q 0 0 0 rg BT 371.95 389.30 Td (3 ) Tj ET Q
q 0 0 0 rg BT 379.13 389.30 Td (measurements. ) Tj ET Q
q 0 0 0 rg BT 443.76 389.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 445.56 389.30 Td (The ) Tj ET Q
q 0 0 0 rg BT 463.82 389.30 Td (significant ) Tj ET Q
q 0 0 0 rg BT 510.08 389.30 Td (assumptions ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 376.70 Td (used ) Tj ET Q
q 0 0 0 rg BT 75.99 376.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 86.89 376.70 Td (these ) Tj ET Q
q 0 0 0 rg BT 111.21 376.70 Td (analyses ) Tj ET Q
q 0 0 0 rg BT 149.52 376.70 Td (at ) Tj ET Q
q 0 0 0 rg BT 159.84 376.70 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 208.65 376.70 Td (including ) Tj ET Q
q 0 0 0 rg BT 251.06 376.70 Td (projected ) Tj ET Q
q 0 0 0 rg BT 292.86 376.70 Td (annual ) Tj ET Q
q 0 0 0 rg BT 323.59 376.70 Td (cash ) Tj ET Q
q 0 0 0 rg BT 344.98 376.70 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 373.68 376.70 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 413.74 376.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 431.64 376.70 Td (discount ) Tj ET Q
q 0 0 0 rg BT 469.96 376.70 Td (rates, ) Tj ET Q
q 0 0 0 rg BT 495.14 376.70 Td (are ) Tj ET Q
q 0 0 0 rg BT 510.70 376.70 Td (summarized ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 364.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 65.37 364.10 Td (follows: ) Tj ET Q
q 0 0 0 rg BT 102.42 364.10 Td ( ) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
51.50 338.60 224.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.50 338.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.50 338.60 202.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
481.50 338.60 8.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
489.50 338.60 74.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
51.50 304.60 224.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
275.50 304.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.50 304.60 202.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
481.50 304.60 8.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
489.50 304.60 74.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279.5 338.6 m
481.5 338.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489.5 338.6 m
563.5 338.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279.5 338.6 m
481.5 338.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
279.5 304.6 m
481.5 304.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489.5 304.6 m
563.5 304.6 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 306.90 343.37 Td (Projected Cash Flow ) Tj ET Q
q 0 0 0 rg BT 396.73 343.37 Td (Attrition, Net) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 496.10 343.37 Td (Discount Rate) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 328.37 Td (Amortizable intangible asset management contracts) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 362.90 328.37 Td (\(10.0\)%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 512.40 328.37 Td (15.0%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 310.15 309.37 Td (Projected Revenue Growth Rates) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.05 309.37 Td (Discount Rates) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 294.37 Td (Contingent consideration) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 304.75 294.37 Td (0% to 10% \(weighted-average: 6%\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 500.00 294.37 Td (1.2% / 2.1%) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 264.90 Td (As ) Tj ET Q
q 0 0 0 rg BT 67.87 264.90 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 78.83 264.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 108.43 264.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 123.76 264.90 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 144.76 264.90 Td (, ) Tj ET Q
q 0 0 0 rg BT 149.59 264.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 164.63 264.90 Td (fair ) Tj ET Q
q 0 0 0 rg BT 181.40 264.90 Td (value ) Tj ET Q
q 0 0 0 rg BT 206.35 264.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 217.30 264.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 232.33 264.90 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 278.86 264.90 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 337.63 264.90 Td (liability ) Tj ET Q
q 0 0 0 rg BT 372.50 264.90 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 391.03 264.90 Td ($3,707) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 419.91 264.90 Td (, ) Tj ET Q
q 0 0 0 rg BT 424.74 264.90 Td (a ) Tj ET Q
q 0 0 0 rg BT 431.60 264.90 Td (decrease ) Tj ET Q
q 0 0 0 rg BT 469.94 264.90 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 480.90 264.90 Td ($1,134) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 509.77 264.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 511.98 264.90 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.59 264.90 Td (March ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 252.30 Td (31, ) Tj ET Q
q 0 0 0 rg BT 70.03 252.30 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 91.03 252.30 Td (. ) Tj ET Q
q 0 0 0 rg BT 96.56 252.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 99.47 252.30 Td (During ) Tj ET Q
q 0 0 0 rg BT 132.12 252.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 147.85 252.30 Td (year ) Tj ET Q
q 0 0 0 rg BT 168.83 252.30 Td (ended ) Tj ET Q
q 0 0 0 rg BT 196.80 252.30 Td (March ) Tj ET Q
q 0 0 0 rg BT 227.11 252.30 Td (31, ) Tj ET Q
q 0 0 0 rg BT 243.15 252.30 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 269.68 252.30 Td (a ) Tj ET Q
q 0 0 0 rg BT 277.24 252.30 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 319.80 252.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 330.87 252.30 Td (projected ) Tj ET Q
q 0 0 0 rg BT 372.84 252.30 Td (net ) Tj ET Q
q 0 0 0 rg BT 388.58 252.30 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 424.71 252.30 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 460.86 252.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 471.93 252.30 Td (a ) Tj ET Q
q 0 0 0 rg BT 479.50 252.30 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 484.75 252.30 Td (1,300) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 508.37 252.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 511.28 252.30 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 553.84 252.30 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 239.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 69.39 239.70 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 112.18 239.70 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 159.06 239.70 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 218.19 239.70 Td (liability) Tj ET Q
q 0 0 0 rg BT 250.17 239.70 Td (, ) Tj ET Q
q 0 0 0 rg BT 255.35 239.70 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 294.63 239.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 305.94 239.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 313.16 239.70 Td (credit ) Tj ET Q
q 0 0 0 rg BT 339.62 239.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 350.34 239.70 Td (Contingent ) Tj ET Q
q 0 0 0 rg BT 399.56 239.70 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 458.69 239.70 Td (fair ) Tj ET Q
q 0 0 0 rg BT 475.82 239.70 Td (value ) Tj ET Q
q 0 0 0 rg BT 501.11 239.70 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 553.83 239.70 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 227.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 70.37 227.10 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 129.32 227.10 Td (Statement ) Tj ET Q
q 0 0 0 rg BT 174.86 227.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 187.15 227.10 Td (Income ) Tj ET Q
q 0 0 0 rg BT 222.17 227.10 Td (\(Loss\). ) Tj ET Q
q 0 0 0 rg BT 255.17 227.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 258.46 227.10 Td (The ) Tj ET Q
q 0 0 0 rg BT 278.32 227.10 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 321.52 227.10 Td (was ) Tj ET Q
q 0 0 0 rg BT 341.39 227.10 Td (of) Tj ET Q
q 0 0 0 rg BT 349.94 227.10 Td (fset ) Tj ET Q
q 0 0 0 rg BT 368.65 227.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 380.36 227.10 Td (part ) Tj ET Q
q 0 0 0 rg BT 400.22 227.10 Td (by ) Tj ET Q
q 0 0 0 rg BT 414.26 227.10 Td (an ) Tj ET Q
q 0 0 0 rg BT 427.72 227.10 Td (increase ) Tj ET Q
q 0 0 0 rg BT 465.65 227.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 477.94 227.10 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 483.19 227.10 Td (166) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 498.94 227.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 502.48 227.10 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 553.84 227.10 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 214.50 Td (accretion. ) Tj ET Q
q 0 0 0 rg BT 98.47 214.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 101.61 214.50 Td (The ) Tj ET Q
q 0 0 0 rg BT 121.31 214.50 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 169.00 214.50 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 228.95 214.50 Td (liability ) Tj ET Q
q 0 0 0 rg BT 264.99 214.50 Td (was ) Tj ET Q
q 0 0 0 rg BT 284.69 214.50 Td (included ) Tj ET Q
q 0 0 0 rg BT 324.22 214.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 335.77 214.50 Td (current ) Tj ET Q
q 0 0 0 rg BT 368.87 214.50 Td (Contingent ) Tj ET Q
q 0 0 0 rg BT 418.91 214.50 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 478.86 214.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 490.40 214.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 506.60 214.50 Td (Consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 201.90 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 90.44 201.90 Td (Sheet ) Tj ET Q
q 0 0 0 rg BT 116.39 201.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 127.76 201.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 139.14 201.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 169.17 201.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 184.92 201.90 Td (2018.) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 54.00 176.70 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 99.22 176.70 Td (Guard, ) Tj ET Q
q 0 0 0 rg BT 132.48 176.70 Td (LLC) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 164.10 Td (On ) Tj ET Q
q 0 0 0 rg BT 69.04 164.10 Td (August ) Tj ET Q
q 0 0 0 rg BT 102.21 164.10 Td (17, ) Tj ET Q
q 0 0 0 rg BT 118.17 164.10 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 144.63 164.10 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 169.03 164.10 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 200.45 164.10 Td (acquired ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 239.43 164.10 Td (82%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 258.67 164.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 261.51 164.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 273.08 164.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 288.75 164.10 Td (equity ) Tj ET Q
q 0 0 0 rg BT 317.82 164.10 Td (interests ) Tj ET Q
q 0 0 0 rg BT 355.65 164.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 366.65 164.10 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 408.56 164.10 Td (Guard, ) Tj ET Q
q 0 0 0 rg BT 440.25 164.10 Td (LLC ) Tj ET Q
q 0 0 0 rg BT 462.92 164.10 Td (\("Financial ) Tj ET Q
q 0 0 0 rg BT 512.61 164.10 Td (Guard"\), ) Tj ET Q
q 0 0 0 rg BT 552.09 164.10 Td (an ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 151.50 Td (online ) Tj ET Q
q 0 0 0 rg BT 83.34 151.50 Td (registered ) Tj ET Q
q 0 0 0 rg BT 127.84 151.50 Td (investment ) Tj ET Q
q 0 0 0 rg BT 177.01 151.50 Td (advisor ) Tj ET Q
q 0 0 0 rg BT 211.02 151.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 229.27 151.50 Td (technology-enabled ) Tj ET Q
q 0 0 0 rg BT 315.17 151.50 Td (wealth ) Tj ET Q
q 0 0 0 rg BT 346.26 151.50 Td (management ) Tj ET Q
q 0 0 0 rg BT 403.00 151.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 421.26 151.50 Td (investment ) Tj ET Q
q 0 0 0 rg BT 470.43 151.50 Td (advice ) Tj ET Q
q 0 0 0 rg BT 500.93 151.50 Td (platform. ) Tj ET Q
q 0 0 0 rg BT 542.81 151.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 545.68 151.50 Td (The ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 138.90 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 103.22 138.90 Td (required ) Tj ET Q
q 0 0 0 rg BT 141.34 138.90 Td (an ) Tj ET Q
q 0 0 0 rg BT 154.39 138.90 Td (initial ) Tj ET Q
q 0 0 0 rg BT 182.02 138.90 Td (cash ) Tj ET Q
q 0 0 0 rg BT 203.82 138.90 Td (payment, ) Tj ET Q
q 0 0 0 rg BT 245.74 138.90 Td (which ) Tj ET Q
q 0 0 0 rg BT 274.54 138.90 Td (was ) Tj ET Q
q 0 0 0 rg BT 294.01 138.90 Td (funded ) Tj ET Q
q 0 0 0 rg BT 326.31 138.90 Td (with ) Tj ET Q
q 0 0 0 rg BT 348.12 138.90 Td (existing ) Tj ET Q
q 0 0 0 rg BT 384.50 138.90 Td (cash ) Tj ET Q
q 0 0 0 rg BT 406.30 138.90 Td (resources, ) Tj ET Q
q 0 0 0 rg BT 451.71 138.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 470.01 138.90 Td (a ) Tj ET Q
q 0 0 0 rg BT 477.81 138.90 Td (potential ) Tj ET Q
q 0 0 0 rg BT 517.69 138.90 Td (contingent ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 126.30 Td (payment ) Tj ET Q
q 0 0 0 rg BT 92.99 126.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 104.57 126.30 Td (up ) Tj ET Q
q 0 0 0 rg BT 117.90 126.30 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 128.90 126.30 Td ($3,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 157.77 126.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 160.60 126.30 Td (based ) Tj ET Q
q 0 0 0 rg BT 187.34 126.30 Td (on ) Tj ET Q
q 0 0 0 rg BT 200.67 126.30 Td (certain ) Tj ET Q
q 0 0 0 rg BT 232.07 126.30 Td (metrics ) Tj ET Q
q 0 0 0 rg BT 265.81 126.30 Td (within ) Tj ET Q
q 0 0 0 rg BT 295.47 126.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 311.13 126.30 Td (first ) Tj ET Q
q 0 0 0 rg BT 330.88 126.30 Td (year ) Tj ET Q
q 0 0 0 rg BT 351.78 126.30 Td (after ) Tj ET Q
q 0 0 0 rg BT 373.84 126.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 389.50 126.30 Td (acquisition. ) Tj ET Q
q 0 0 0 rg BT 441.04 126.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 443.87 126.30 Td (No ) Tj ET Q
q 0 0 0 rg BT 459.53 126.30 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 506.69 126.30 Td (payment ) Tj ET Q
q 0 0 0 rg BT 545.68 126.30 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 113.70 Td (due ) Tj ET Q
q 0 0 0 rg BT 72.46 113.70 Td (based ) Tj ET Q
q 0 0 0 rg BT 99.66 113.70 Td (on ) Tj ET Q
q 0 0 0 rg BT 113.46 113.70 Td (relevant ) Tj ET Q
q 0 0 0 rg BT 150.57 113.70 Td (metrics. ) Tj ET Q
q 0 0 0 rg BT 187.40 113.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 190.70 113.70 Td (In ) Tj ET Q
q 0 0 0 rg BT 202.75 113.70 Td (connection ) Tj ET Q
q 0 0 0 rg BT 252.11 113.70 Td (with ) Tj ET Q
q 0 0 0 rg BT 274.08 113.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 290.20 113.70 Td (acquisition, ) Tj ET Q
q 0 0 0 rg BT 342.20 113.70 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 367.07 113.70 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 398.96 113.70 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 448.31 113.70 Td (certain ) Tj ET Q
q 0 0 0 rg BT 480.17 113.70 Td (business ) Tj ET Q
q 0 0 0 rg BT 519.06 113.70 Td (assets ) Tj ET Q
q 0 0 0 rg BT 546.85 113.70 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 101.10 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 94.35 101.10 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 106.12 101.10 Td ($1) Tj ET Q
q 0 0 0 rg BT 116.23 101.10 Td (1,995) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 139.85 101.10 Td (. ) Tj ET Q
q 0 0 0 rg BT 145.50 101.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 148.52 101.10 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 173.11 101.10 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 204.71 101.10 Td (also ) Tj ET Q
q 0 0 0 rg BT 224.65 101.10 Td (committed ) Tj ET Q
q 0 0 0 rg BT 272.57 101.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 283.76 101.10 Td (contribute ) Tj ET Q
q 0 0 0 rg BT 329.35 101.10 Td (up ) Tj ET Q
q 0 0 0 rg BT 342.87 101.10 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 354.05 101.10 Td ($5,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 382.93 101.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 385.95 101.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 397.71 101.10 Td (additional ) Tj ET Q
q 0 0 0 rg BT 442.72 101.10 Td (working ) Tj ET Q
q 0 0 0 rg BT 480.74 101.10 Td (capital ) Tj ET Q
q 0 0 0 rg BT 511.74 101.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 522.92 101.10 Td (Financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 54.00 88.50 Td (Guard, ) Tj ET Q
q 0 0 0 rg BT 85.16 88.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 95.62 88.50 Td (be ) Tj ET Q
q 0 0 0 rg BT 107.83 88.50 Td (paid ) Tj ET Q
q 0 0 0 rg BT 128.20 88.50 Td (over ) Tj ET Q
q 0 0 0 rg BT 149.15 88.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 164.27 88.50 Td (two-year ) Tj ET Q
q 0 0 0 rg BT 203.88 88.50 Td (period ) Tj ET Q
q 0 0 0 rg BT 233.00 88.50 Td (following ) Tj ET Q
q 0 0 0 rg BT 276.13 88.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 291.25 88.50 Td (acquisition, ) Tj ET Q
q 0 0 0 rg BT 342.25 88.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 353.29 88.50 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 381.24 88.50 Td ($2,500) Tj ET Q
BT /F1 10.50 Tf ET
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0.8 0.9333333333333333 1 rg
/GS0 gs
384.00 255.50 65.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
449.00 255.50 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
453.00 255.50 55.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
508.00 255.50 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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512.00 255.50 50.00 -14.00 re f
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
236 734.5 m
306 734.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
306 734.5 m
310 734.5 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
310 734.5 m
380 734.5 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
380 734.5 m
384 734.5 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
384 734.5 m
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
449 734.5 m
453 734.5 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
453 734.5 m
508 734.5 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
508 734.5 m
512 734.5 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
512 734.5 m
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0 0 0 RG
/GS0 gs
1.00 w
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[] 0 d
0 J
0 j
3 M
49 693.5 m
232 693.5 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
236 693.5 m
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
310 693.5 m
380 693.5 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
384 693.5 m
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
453 693.5 m
508 693.5 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
512 693.5 m
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
236 637.5 m
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
310 637.5 m
380 637.5 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
384 637.5 m
449 637.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
453 637.5 m
508 637.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 637.5 m
232 637.5 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 623.5 m
232 623.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
236 637.5 m
306 637.5 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
236 623.5 m
306 623.5 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
310 637.5 m
380 637.5 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
310 623.5 m
380 623.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
384 637.5 m
449 637.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
384 623.5 m
449 623.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
453 637.5 m
508 637.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
453 623.5 m
508 623.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
512 637.5 m
562 637.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
512 623.5 m
562 623.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 623.5 m
232 623.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 480.5 m
232 480.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
236 480.5 m
306 480.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
310 480.5 m
380 480.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
384 480.5 m
449 480.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
453 480.5 m
508 480.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
512 480.5 m
562 480.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 466.5 m
232 466.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
236 466.5 m
306 466.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
310 466.5 m
380 466.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
384 466.5 m
449 466.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
453 466.5 m
508 466.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
512 480.5 m
562 480.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
512 466.5 m
562 466.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 466.5 m
232 466.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 297.5 m
232 297.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
236 297.5 m
306 297.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
310 297.5 m
380 297.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
384 297.5 m
449 297.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
453 297.5 m
508 297.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
512 297.5 m
562 297.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 283.5 m
232 283.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
236 283.5 m
306 283.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
310 297.5 m
380 297.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
310 283.5 m
380 283.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
384 297.5 m
449 297.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
384 283.5 m
449 283.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
453 297.5 m
508 297.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
453 283.5 m
508 283.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
512 297.5 m
562 297.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
512 283.5 m
562 283.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
236 241.5 m
306 241.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
310 241.5 m
380 241.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
384 241.5 m
449 241.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
453 241.5 m
508 241.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
512 241.5 m
562 241.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 241.5 m
232 241.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 227.5 m
232 227.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
236 241.5 m
306 241.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
236 227.5 m
306 227.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
310 241.5 m
380 241.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
310 227.5 m
380 227.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
384 241.5 m
449 241.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
384 227.5 m
449 227.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
453 241.5 m
508 241.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
453 227.5 m
508 227.5 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
512 227.5 m
562 227.5 l
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BT /F1 9.50 Tf ET
q 0 0 0 rg BT 356.65 739.06 Td (As of March 31, 2017) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 51.50 698.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 239.10 717.06 Td (Quoted prices in) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 242.90 707.56 Td (active markets) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 252.95 698.06 Td (\(Level 1\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 312.70 725.41 Td (Significant other) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 323.90 715.91 Td (observable) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 332.85 706.41 Td (inputs) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 326.95 696.91 Td (\(Level 2\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 395.15 725.41 Td (Significant) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 390.65 715.91 Td (unobservable) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 404.35 706.41 Td (inputs) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 398.45 696.91 Td (\(Level 3\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 457.00 717.06 Td (Investments) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 457.15 707.56 Td (measured at) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 470.40 698.06 Td (NA) Tj ET Q
q 0 0 0 rg BT 483.51 698.06 Td (V) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 526.80 698.06 Td (T) Tj ET Q
q 0 0 0 rg BT 531.94 698.06 Td (otal) Tj ET Q
BT /F2 9.50 Tf ET
q 0 0 0 rg BT 51.50 684.07 Td (Assets:) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 57.50 670.06 Td (Cash equivalents:) Tj ET Q
BT /F1 9.50 Tf ET
BT /F1 6.17 Tf ET
q 0 0 0 rg BT 124.78 674.37 Td (\(1\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 69.50 656.06 Td (Money market funds) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 238.50 656.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 271.40 656.06 Td (403,585) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 312.50 656.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 366.80 656.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 386.50 656.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 435.80 656.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 455.50 656.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 494.80 656.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 514.50 656.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 527.40 656.06 Td (403,585) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 69.50 642.06 Td (T) Tj ET Q
q 0 0 0 rg BT 74.97 642.06 Td (ime deposits and other) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 292.80 642.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 350.15 642.06 Td (35,835) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 435.80 642.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 494.80 642.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 532.15 642.06 Td (35,835) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 57.50 628.06 Td (T) Tj ET Q
q 0 0 0 rg BT 62.64 628.06 Td (otal cash equivalents) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 271.40 628.06 Td (403,585) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 350.15 628.06 Td (35,835) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 435.80 628.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 494.80 628.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 527.40 628.06 Td (439,420) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 57.50 614.41 Td (T) Tj ET Q
q 0 0 0 rg BT 62.97 614.41 Td (rading investments of proprietary fund ) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 66.50 604.91 Td (products and other trading investments:) Tj ET Q
BT /F1 9.50 Tf ET
BT /F1 6.17 Tf ET
q 0 0 0 rg BT 216.89 609.22 Td (\(2\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 81.50 591.06 Td (Seed capital investments) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 271.40 591.06 Td (141,025) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 350.15 591.06 Td (75,275) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 435.80 591.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 482.90 591.06 Td (4,373) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 527.40 591.06 Td (220,673) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 83.00 577.06 Td (Other) Tj ET Q
BT /F1 9.50 Tf ET
BT /F1 6.17 Tf ET
q 0 0 0 rg BT 104.63 581.37 Td (\(3\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 276.15 577.06 Td (39,177) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 354.90 577.06 Td (2,724) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 435.80 577.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 494.80 577.06 Td (1) Tj ET Q
q 0 0 0 rg BT 499.55 577.06 Td (1) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 532.15 577.06 Td (41,912) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 57.50 563.41 Td (T) Tj ET Q
q 0 0 0 rg BT 62.97 563.41 Td (rading investments relating to long-term ) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 66.50 553.91 Td (incentive compensation plans) Tj ET Q
BT /F1 9.50 Tf ET
BT /F1 6.17 Tf ET
q 0 0 0 rg BT 178.89 558.22 Td (\(4\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 271.40 554.06 Td (150,576) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 366.80 554.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 435.80 554.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 490.05 554.06 Td (327) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 527.40 554.06 Td (150,903) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 57.50 540.41 Td (Equity method investments relating to ) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 66.50 530.91 Td (proprietary fund products and long-term ) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 66.50 521.41 Td (incentive compensation plans:) Tj ET Q
BT /F1 9.50 Tf ET
BT /F1 6.17 Tf ET
q 0 0 0 rg BT 181.53 525.72 Td (\(5\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 81.50 508.06 Td (Seed capital investments) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 292.80 508.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 354.90 508.06 Td (2,502) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 435.80 508.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 494.80 508.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 536.90 508.06 Td (2,502) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 81.50 494.41 Td (Investments related to long-term) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 90.50 484.91 Td (incentive compensation plans) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 292.80 485.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 366.80 485.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 423.90 485.06 Td (1,337) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 482.90 485.06 Td (6,292) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 536.90 485.06 Td (7,629) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 57.50 471.06 Td (T) Tj ET Q
q 0 0 0 rg BT 62.64 471.06 Td (otal current investments) Tj ET Q
BT /F1 9.50 Tf ET
BT /F1 6.17 Tf ET
q 0 0 0 rg BT 153.92 475.37 Td (\(6\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 271.40 471.06 Td (330,778) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 350.15 471.06 Td (80,501) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 423.90 471.06 Td (1,337) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 478.15 471.06 Td (1) Tj ET Q
q 0 0 0 rg BT 482.90 471.06 Td (1,003) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 527.40 471.06 Td (423,619) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 57.50 457.41 Td (Equity method investments in partnerships ) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 66.50 447.91 Td (and LLCs:) Tj ET Q
BT /F1 9.50 Tf ET
BT /F1 6.17 Tf ET
q 0 0 0 rg BT 106.87 452.22 Td (\(5\)\(7\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 81.50 434.06 Td (Seed capital investments) Tj ET Q
BT /F1 9.50 Tf ET
BT /F1 6.17 Tf ET
q 0 0 0 rg BT 175.42 438.37 Td (\(6\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 292.80 434.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 366.80 434.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 431.05 434.06 Td (752) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 478.15 434.06 Td (22,712) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 532.15 434.06 Td (23,464) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 81.50 419.56 Td (Seed capital investments in real estate) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 95.00 410.06 Td (funds) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 292.80 410.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 366.80 410.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 419.15 410.06 Td (26,909) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 494.80 410.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 532.15 410.06 Td (26,909) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 81.50 396.06 Td (Other) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 292.80 396.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 366.80 396.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 423.90 396.06 Td (1,646) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 478.15 396.06 Td (15,617) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 532.15 396.06 Td (17,263) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 57.50 382.06 Td (Investments in partnerships and LLCs:) Tj ET Q
BT /F1 9.50 Tf ET
BT /F1 6.17 Tf ET
q 0 0 0 rg BT 204.73 386.37 Td (\(7\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 81.50 368.06 Td (Seed capital investments) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 292.80 368.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 366.80 368.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 435.80 368.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 482.90 368.06 Td (3,440) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 536.90 368.06 Td (3,440) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 81.50 353.56 Td (Investments related to long-term) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 90.50 344.06 Td (incentive compensation plans) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 292.80 344.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 366.80 344.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 423.90 344.06 Td (9,315) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 494.80 344.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 536.90 344.06 Td (9,315) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 81.50 330.06 Td (Other) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 292.80 330.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 366.80 330.06 Td (99) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 423.90 330.06 Td (1,825) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 494.80 330.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 536.90 330.06 Td (1,924) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 57.50 316.06 Td (Derivative assets) Tj ET Q
BT /F1 9.50 Tf ET
BT /F1 6.17 Tf ET
q 0 0 0 rg BT 122.13 320.37 Td (\(8\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 280.90 316.06 Td (2,718) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 366.80 316.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 435.80 316.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 494.80 316.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 536.90 316.06 Td (2,718) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 57.50 302.06 Td (Other investments) Tj ET Q
BT /F1 9.50 Tf ET
BT /F1 6.17 Tf ET
q 0 0 0 rg BT 126.89 306.37 Td (\(7\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 292.80 302.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 366.80 302.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 431.05 302.06 Td (1) Tj ET Q
q 0 0 0 rg BT 435.80 302.06 Td (13) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 494.80 302.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 544.05 302.06 Td (1) Tj ET Q
q 0 0 0 rg BT 548.80 302.06 Td (13) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 51.50 288.06 Td (T) Tj ET Q
q 0 0 0 rg BT 56.97 288.06 Td (otal) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 238.50 288.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 271.40 288.06 Td (737,081) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 312.50 288.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 345.40 288.06 Td (1) Tj ET Q
q 0 0 0 rg BT 350.15 288.06 Td (16,435) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 386.50 288.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 419.15 288.06 Td (41,897) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 455.50 288.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 478.15 288.06 Td (52,772) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 514.50 288.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 527.40 288.06 Td (948,185) Tj ET Q
BT /F2 9.50 Tf ET
q 0 0 0 rg BT 51.50 274.07 Td (Liabilities:) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 57.50 260.06 Td (Contingent consideration liabilities) Tj ET Q
BT /F1 9.50 Tf ET
BT /F1 6.17 Tf ET
q 0 0 0 rg BT 191.01 264.37 Td (\(9\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 238.50 260.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 292.80 260.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 312.50 260.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 366.80 260.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 386.50 260.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 416.00 260.06 Td (\(36,810) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 445.30 260.06 Td (\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 455.50 260.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 494.80 260.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 514.50 260.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 529.00 260.06 Td (\(36,810) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 558.30 260.06 Td (\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 57.50 246.06 Td (Derivative liabilities) Tj ET Q
BT /F1 9.50 Tf ET
BT /F1 6.17 Tf ET
q 0 0 0 rg BT 135.33 250.37 Td (\(8\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 277.75 246.06 Td (\(4,522) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 302.30 246.06 Td (\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 366.80 246.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 435.80 246.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 494.80 246.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 533.75 246.06 Td (\(4,522) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 558.30 246.06 Td (\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 51.50 232.06 Td (T) Tj ET Q
q 0 0 0 rg BT 56.64 232.06 Td (otal) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 238.50 232.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 277.75 232.06 Td (\(4,522) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 302.30 232.06 Td (\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 312.50 232.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 366.80 232.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 386.50 232.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 416.00 232.06 Td (\(36,810) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 445.30 232.06 Td (\)) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 455.50 232.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 494.80 232.06 Td (�) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 514.50 232.06 Td ($) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 529.00 232.06 Td (\(41,332) Tj ET Q
BT /F1 9.50 Tf ET
q 0 0 0 rg BT 558.30 232.06 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 218.40 Td (\(1\) ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 218.40 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 85.38 218.40 Td (equivalents ) Tj ET Q
q 0 0 0 rg BT 123.70 218.40 Td (include ) Tj ET Q
q 0 0 0 rg BT 149.13 218.40 Td (highly ) Tj ET Q
q 0 0 0 rg BT 171.46 218.40 Td (liquid ) Tj ET Q
q 0 0 0 rg BT 192.01 218.40 Td (investments ) Tj ET Q
q 0 0 0 rg BT 232.12 218.40 Td (with ) Tj ET Q
q 0 0 0 rg BT 248.22 218.40 Td (original ) Tj ET Q
q 0 0 0 rg BT 274.99 218.40 Td (maturities ) Tj ET Q
q 0 0 0 rg BT 308.86 218.40 Td (of ) Tj ET Q
q 0 0 0 rg BT 317.41 218.40 Td (90 ) Tj ET Q
q 0 0 0 rg BT 327.30 218.40 Td (days ) Tj ET Q
q 0 0 0 rg BT 343.84 218.40 Td (or ) Tj ET Q
q 0 0 0 rg BT 352.39 218.40 Td (less. ) Tj ET Q
q 0 0 0 rg BT 368.28 218.40 Td ( ) Tj ET Q
q 0 0 0 rg BT 370.16 218.40 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 388.04 218.40 Td (investments ) Tj ET Q
q 0 0 0 rg BT 428.15 218.40 Td (in ) Tj ET Q
q 0 0 0 rg BT 436.25 218.40 Td (actively ) Tj ET Q
q 0 0 0 rg BT 463.46 218.40 Td (traded ) Tj ET Q
q 0 0 0 rg BT 485.33 218.40 Td (money ) Tj ET Q
q 0 0 0 rg BT 508.99 218.40 Td (market ) Tj ET Q
q 0 0 0 rg BT 533.08 218.40 Td (funds ) Tj ET Q
q 0 0 0 rg BT 552.74 218.40 Td (are ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 208.80 Td (classified ) Tj ET Q
q 0 0 0 rg BT 99.67 208.80 Td (as ) Tj ET Q
q 0 0 0 rg BT 108.28 208.80 Td (Level ) Tj ET Q
q 0 0 0 rg BT 128.45 208.80 Td (1.��Cash ) Tj ET Q
q 0 0 0 rg BT 156.40 208.80 Td (investments ) Tj ET Q
q 0 0 0 rg BT 196.58 208.80 Td (in ) Tj ET Q
q 0 0 0 rg BT 204.75 208.80 Td (time ) Tj ET Q
q 0 0 0 rg BT 220.92 208.80 Td (deposits ) Tj ET Q
q 0 0 0 rg BT 249.10 208.80 Td (and ) Tj ET Q
q 0 0 0 rg BT 262.61 208.80 Td (other ) Tj ET Q
q 0 0 0 rg BT 281.00 208.80 Td (are ) Tj ET Q
q 0 0 0 rg BT 292.72 208.80 Td (measured ) Tj ET Q
q 0 0 0 rg BT 325.32 208.80 Td (at ) Tj ET Q
q 0 0 0 rg BT 333.05 208.80 Td (amortized ) Tj ET Q
q 0 0 0 rg BT 366.99 208.80 Td (cost, ) Tj ET Q
q 0 0 0 rg BT 383.83 208.80 Td (which ) Tj ET Q
q 0 0 0 rg BT 405.34 208.80 Td (approximates ) Tj ET Q
q 0 0 0 rg BT 450.39 208.80 Td (fair ) Tj ET Q
q 0 0 0 rg BT 463.44 208.80 Td (value ) Tj ET Q
q 0 0 0 rg BT 482.72 208.80 Td (because ) Tj ET Q
q 0 0 0 rg BT 509.99 208.80 Td (of ) Tj ET Q
q 0 0 0 rg BT 518.61 208.80 Td (the ) Tj ET Q
q 0 0 0 rg BT 530.34 208.80 Td (short ) Tj ET Q
q 0 0 0 rg BT 548.29 208.80 Td (time ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 199.20 Td (between ) Tj ET Q
q 0 0 0 rg BT 96.15 199.20 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 126.58 199.20 Td (of ) Tj ET Q
q 0 0 0 rg BT 135.25 199.20 Td (the ) Tj ET Q
q 0 0 0 rg BT 147.02 199.20 Td (instrument ) Tj ET Q
q 0 0 0 rg BT 183.24 199.20 Td (and ) Tj ET Q
q 0 0 0 rg BT 196.79 199.20 Td (its ) Tj ET Q
q 0 0 0 rg BT 206.35 199.20 Td (expected ) Tj ET Q
q 0 0 0 rg BT 236.77 199.20 Td (realization, ) Tj ET Q
q 0 0 0 rg BT 274.53 199.20 Td (and ) Tj ET Q
q 0 0 0 rg BT 288.08 199.20 Td (are ) Tj ET Q
q 0 0 0 rg BT 299.85 199.20 Td (classified ) Tj ET Q
q 0 0 0 rg BT 332.06 199.20 Td (as ) Tj ET Q
q 0 0 0 rg BT 340.72 199.20 Td (Level ) Tj ET Q
q 0 0 0 rg BT 360.93 199.20 Td (2.) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 189.60 Td (\(2\) ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 189.60 Td (T) Tj ET Q
q 0 0 0 rg BT 72.11 189.60 Td (rading ) Tj ET Q
q 0 0 0 rg BT 93.73 189.60 Td (investments ) Tj ET Q
q 0 0 0 rg BT 133.13 189.60 Td (of ) Tj ET Q
q 0 0 0 rg BT 140.97 189.60 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 177.70 189.60 Td (fund ) Tj ET Q
q 0 0 0 rg BT 193.54 189.60 Td (products ) Tj ET Q
q 0 0 0 rg BT 222.28 189.60 Td (and ) Tj ET Q
q 0 0 0 rg BT 235.01 189.60 Td (other ) Tj ET Q
q 0 0 0 rg BT 252.63 189.60 Td (trading ) Tj ET Q
q 0 0 0 rg BT 276.47 189.60 Td (investments ) Tj ET Q
q 0 0 0 rg BT 315.87 189.60 Td (consist ) Tj ET Q
q 0 0 0 rg BT 339.28 189.60 Td (of ) Tj ET Q
q 0 0 0 rg BT 347.13 189.60 Td (approximately ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 394.51 189.60 Td (81%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 409.18 189.60 Td ( ) Tj ET Q
q 0 0 0 rg BT 410.36 189.60 Td (and ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 423.09 189.60 Td (19%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 437.76 189.60 Td ( ) Tj ET Q
q 0 0 0 rg BT 438.94 189.60 Td ( ) Tj ET Q
q 0 0 0 rg BT 440.12 189.60 Td (equity ) Tj ET Q
q 0 0 0 rg BT 461.30 189.60 Td (and ) Tj ET Q
q 0 0 0 rg BT 474.04 189.60 Td (debt ) Tj ET Q
q 0 0 0 rg BT 488.99 189.60 Td (securities, ) Tj ET Q
q 0 0 0 rg BT 522.39 189.60 Td (respectively) Tj ET Q
q 0 0 0 rg BT 560.51 189.60 Td (, ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 180.00 Td (as ) Tj ET Q
q 0 0 0 rg BT 76.16 180.00 Td (of ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 84.83 180.00 Td (March ) Tj ET Q
q 0 0 0 rg BT 107.71 180.00 Td (31, ) Tj ET Q
q 0 0 0 rg BT 119.71 180.00 Td (2018) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 135.71 180.00 Td (, ) Tj ET Q
q 0 0 0 rg BT 139.71 180.00 Td (and ) Tj ET Q
q 0 0 0 rg BT 153.26 180.00 Td (approximately ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 201.46 180.00 Td (79%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 216.13 180.00 Td ( ) Tj ET Q
q 0 0 0 rg BT 218.13 180.00 Td (and ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 231.68 180.00 Td (21%) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 246.34 180.00 Td ( ) Tj ET Q
q 0 0 0 rg BT 248.34 180.00 Td (equity ) Tj ET Q
q 0 0 0 rg BT 270.34 180.00 Td (and ) Tj ET Q
q 0 0 0 rg BT 283.89 180.00 Td (debt ) Tj ET Q
q 0 0 0 rg BT 299.66 180.00 Td (securities, ) Tj ET Q
q 0 0 0 rg BT 333.88 180.00 Td (respectively) Tj ET Q
q 0 0 0 rg BT 372.00 180.00 Td (, ) Tj ET Q
q 0 0 0 rg BT 376.00 180.00 Td (as ) Tj ET Q
q 0 0 0 rg BT 384.67 180.00 Td (of ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 393.33 180.00 Td (March ) Tj ET Q
q 0 0 0 rg BT 416.21 180.00 Td (31, ) Tj ET Q
q 0 0 0 rg BT 428.21 180.00 Td (2017) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 444.21 180.00 Td (.) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 170.40 Td (\(3\) ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 170.40 Td (Includes ) Tj ET Q
q 0 0 0 rg BT 96.11 170.40 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 100.11 170.40 Td (15,452) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 122.11 170.40 Td ( ) Tj ET Q
q 0 0 0 rg BT 123.61 170.40 Td (and ) Tj ET Q
q 0 0 0 rg BT 136.66 170.40 Td ($) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 140.66 170.40 Td (26,854) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 162.66 170.40 Td ( ) Tj ET Q
q 0 0 0 rg BT 164.17 170.40 Td (in ) Tj ET Q
q 0 0 0 rg BT 171.89 170.40 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 220.50 170.40 Td (interests ) Tj ET Q
q 0 0 0 rg BT 248.67 170.40 Td (associated ) Tj ET Q
q 0 0 0 rg BT 283.05 170.40 Td (with ) Tj ET Q
q 0 0 0 rg BT 298.77 170.40 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 340.71 170.40 Td (seed ) Tj ET Q
q 0 0 0 rg BT 356.43 170.40 Td (investment ) Tj ET Q
q 0 0 0 rg BT 393.04 170.40 Td (products ) Tj ET Q
q 0 0 0 rg BT 422.09 170.40 Td (as ) Tj ET Q
q 0 0 0 rg BT 430.26 170.40 Td (of ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 438.43 170.40 Td (March ) Tj ET Q
q 0 0 0 rg BT 460.81 170.40 Td (31, ) Tj ET Q
q 0 0 0 rg BT 472.32 170.40 Td (2018) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 488.32 170.40 Td ( ) Tj ET Q
q 0 0 0 rg BT 489.82 170.40 Td (and ) Tj ET Q
q 0 0 0 rg BT 502.88 170.40 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 522.38 170.40 Td (respectively) Tj ET Q
q 0 0 0 rg BT 560.51 170.40 Td (.) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 49.50 160.80 Td (\(4\) ) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 67.50 160.80 Td (Primarily ) Tj ET Q
q 0 0 0 rg BT 100.10 160.80 Td (mutual ) Tj ET Q
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0.8 0.9333333333333333 1 rg
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491.00 401.65 4.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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495.00 401.65 68.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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50.00 339.65 103.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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153.00 339.65 4.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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157.00 339.65 67.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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224.00 339.65 4.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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228.00 339.65 48.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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276.00 339.65 4.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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280.00 339.65 38.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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318.00 339.65 4.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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322.00 339.65 65.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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387.00 339.65 4.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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391.00 339.65 46.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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437.00 339.65 4.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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441.00 339.65 50.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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491.00 339.65 4.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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495.00 339.65 68.00 -57.00 re f
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0.8 0.9333333333333333 1 rg
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50.00 256.65 103.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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153.00 256.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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157.00 256.65 67.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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224.00 256.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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228.00 256.65 48.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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276.00 256.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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280.00 256.65 38.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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318.00 256.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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322.00 256.65 65.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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387.00 256.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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391.00 256.65 46.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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437.00 256.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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441.00 256.65 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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491.00 256.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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495.00 256.65 68.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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50.00 226.65 103.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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153.00 226.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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157.00 226.65 67.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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224.00 226.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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228.00 226.65 48.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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276.00 226.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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280.00 226.65 38.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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318.00 226.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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322.00 226.65 65.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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387.00 226.65 4.00 -15.00 re f
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391.00 226.65 46.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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437.00 226.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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441.00 226.65 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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491.00 226.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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495.00 226.65 68.00 -15.00 re f
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 650.65 m
153 650.65 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
157 650.65 m
224 650.65 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
228 650.65 m
276 650.65 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
280 650.65 m
318 650.65 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
322 650.65 m
387 650.65 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
391 650.65 m
437 650.65 l
s
0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
441 650.65 m
491 650.65 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
495 650.65 m
563 650.65 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
50 650.65 m
153 650.65 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
50 241.64999999999998 m
153 241.64999999999998 l
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0 0 0 RG
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[] 0 d
0 J
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3 M
157 241.64999999999998 m
224 241.64999999999998 l
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0 0 0 RG
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[] 0 d
0 J
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3 M
224 241.64999999999998 m
228 241.64999999999998 l
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[] 0 d
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3 M
228 241.64999999999998 m
276 241.64999999999998 l
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[] 0 d
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3 M
276 241.64999999999998 m
280 241.64999999999998 l
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[] 0 d
0 J
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3 M
280 241.64999999999998 m
318 241.64999999999998 l
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[] 0 d
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3 M
318 241.64999999999998 m
322 241.64999999999998 l
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[] 0 d
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3 M
322 241.64999999999998 m
387 241.64999999999998 l
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[] 0 d
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387 241.64999999999998 m
391 241.64999999999998 l
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[] 0 d
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391 241.64999999999998 m
437 241.64999999999998 l
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[] 0 d
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437 241.64999999999998 m
441 241.64999999999998 l
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[] 0 d
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441 241.64999999999998 m
491 241.64999999999998 l
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[] 0 d
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491 241.64999999999998 m
495 241.64999999999998 l
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50 226.64999999999998 m
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3 M
157 241.64999999999998 m
224 241.64999999999998 l
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3 M
157 226.64999999999998 m
224 226.64999999999998 l
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224 241.64999999999998 m
228 241.64999999999998 l
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224 226.64999999999998 m
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[] 0 d
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3 M
228 241.64999999999998 m
276 241.64999999999998 l
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[] 0 d
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3 M
228 226.64999999999998 m
276 226.64999999999998 l
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[] 0 d
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3 M
276 241.64999999999998 m
280 241.64999999999998 l
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[] 0 d
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3 M
276 226.64999999999998 m
280 226.64999999999998 l
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[] 0 d
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3 M
280 241.64999999999998 m
318 241.64999999999998 l
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[] 0 d
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3 M
280 226.64999999999998 m
318 226.64999999999998 l
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[] 0 d
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3 M
318 241.64999999999998 m
322 241.64999999999998 l
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318 226.64999999999998 m
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[] 0 d
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3 M
322 241.64999999999998 m
387 241.64999999999998 l
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[] 0 d
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3 M
322 226.64999999999998 m
387 226.64999999999998 l
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[] 0 d
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3 M
387 241.64999999999998 m
391 241.64999999999998 l
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[] 0 d
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3 M
387 226.64999999999998 m
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[] 0 d
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3 M
391 241.64999999999998 m
437 241.64999999999998 l
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3 M
391 226.64999999999998 m
437 226.64999999999998 l
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[] 0 d
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3 M
437 241.64999999999998 m
441 241.64999999999998 l
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[] 0 d
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437 226.64999999999998 m
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441 241.64999999999998 m
491 241.64999999999998 l
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441 226.64999999999998 m
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[] 0 d
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3 M
491 241.64999999999998 m
495 241.64999999999998 l
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[] 0 d
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3 M
491 226.64999999999998 m
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495 241.64999999999998 m
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495 226.64999999999998 m
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 655.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 161.70 676.42 Td (Balance as of) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 168.40 665.92 Td (March 31,) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 179.50 655.42 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 230.50 655.42 Td (Purchases) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 287.40 655.42 Td (Sales) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 324.80 676.42 Td (Redemptions/) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 328.00 665.92 Td (Settlements/) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 342.00 655.42 Td (Other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 393.85 655.42 Td (T) Tj ET Q
q 0 0 0 rg BT 400.08 655.42 Td (ransfers) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 447.10 707.92 Td (Realized) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 457.90 697.42 Td (and) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 443.60 686.92 Td (unrealized) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 452.95 676.42 Td (gains/) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.10 665.92 Td (\(losses\),) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 459.05 655.42 Td (net) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 499.00 676.44 Td (Balance as of ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 505.55 665.94 Td (Mar) Tj ET Q
q 0 0 0 rg BT 525.18 665.94 Td (ch 31, ) Tj ET Q
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q 0 0 0 rg BT 518.00 655.44 Td (2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 52.50 640.44 Td (Assets:) Tj ET Q
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q 0 0 0 rg BT 58.50 625.42 Td (T) Tj ET Q
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q 0 0 0 rg BT 67.50 614.92 Td (of seed capital) Tj ET Q
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q 0 0 0 rg BT 67.50 593.92 Td (proprietary fund) Tj ET Q
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q 0 0 0 rg BT 67.50 583.42 Td (products) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 159.50 583.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 209.50 583.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 230.50 583.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 248.35 583.42 Td (1,300) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 282.50 583.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 303.50 583.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 324.50 583.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 372.50 583.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 393.50 583.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 422.50 583.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 443.50 583.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 473.00 583.42 Td (\(58) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 487.00 583.42 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 497.50 583.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 535.35 583.44 Td (1,242) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 196.35 515.42 Td (1,337) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 261.50 515.42 Td (39) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 303.50 515.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 355.85 515.42 Td (\(1,469) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 383.00 515.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 422.50 515.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 476.50 515.42 Td (93) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 548.50 515.44 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.50 468.42 Td (LLCs:) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 73.50 442.42 Td (investments) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 204.25 442.42 Td (752) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 261.50 442.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 303.50 442.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 372.50 442.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 422.50 442.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 471.25 442.42 Td (210) Tj ET Q
BT /F2 10.50 Tf ET
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488 469.65 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 251.50 708.42 Td (Fair ) Tj ET Q
q 0 0 0 rg BT 270.94 708.42 Td (V) Tj ET Q
q 0 0 0 rg BT 277.85 708.42 Td (alue Determined Using NA) Tj ET Q
q 0 0 0 rg BT 391.77 708.42 Td (V) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 442.40 708.44 Td (As of Mar) Tj ET Q
q 0 0 0 rg BT 487.70 708.44 Td (ch 31, 2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.05 692.92 Td (Category of) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 59.65 682.42 Td (Investment) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 140.35 682.42 Td (Investment Strategy) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 259.55 692.94 Td (Mar) Tj ET Q
q 0 0 0 rg BT 279.18 692.94 Td (ch 31, ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 272.00 682.44 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.40 692.92 Td (March 31,) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 356.50 682.42 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 404.50 682.42 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 430.00 692.94 Td (Unfunded) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 420.70 682.44 Td (Commitments) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 508.45 692.94 Td (Remaining) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 520.90 682.44 Td (T) Tj ET Q
q 0 0 0 rg BT 527.42 682.44 Td (erm) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 635.92 Td (Funds-of-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 61.50 625.42 Td (hedge funds) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.50 667.42 Td (Global macro, fixed) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.50 656.92 Td (income, long/short equity) Tj ET Q
q 0 0 0 rg BT 230.77 656.92 Td (,) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.50 646.42 Td (natural resources,) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.50 635.92 Td (systematic, emer) Tj ET Q
q 0 0 0 rg BT 193.97 635.92 Td (ging) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.50 625.42 Td (market, European hedge) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 251.50 625.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 284.10 625.44 Td (1) Tj ET Q
q 0 0 0 rg BT 289.35 625.44 Td (1,122) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 319.50 624.90 Td (\(1\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 335.50 625.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 369.10 625.42 Td (18,537) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 470.45 625.44 Td (n/a) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 525.95 625.44 Td (n/a) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 568.42 Td (Hedge funds) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.50 610.42 Td (Fixed income - developed) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.50 599.92 Td (market, event driven, fixed) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.50 589.42 Td (income - hedge, relative) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.50 578.92 Td (value arbitrage, European) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.50 568.42 Td (hedge) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 289.35 568.44 Td (6,479) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 369.10 568.42 Td (10,107) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 420.50 568.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 455.10 568.44 Td (20,000) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 525.95 568.44 Td (n/a) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 552.92 Td (Private equity) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 61.50 542.42 Td (funds) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.50 542.42 Td (Long/short equity) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 284.10 542.44 Td (14,377) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 319.50 541.90 Td (\(2\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 369.10 542.42 Td (17,612) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 460.35 542.44 Td (6,514) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 514.30 552.94 Td (Up to 1) Tj ET Q
q 0 0 0 rg BT 546.68 552.94 Td (1) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 521.00 542.44 Td (years) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 516.92 Td (Equity) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 61.50 506.42 Td (method) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.50 527.42 Td (Alternatives, structured) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 132.50 516.92 Td (securities, short-dated) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 132.50 506.42 Td (fixed income) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 289.35 506.44 Td (9,236) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 319.50 505.90 Td (\(2\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 374.35 506.42 Td (6,292) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 470.45 506.44 Td (n/a) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 525.95 506.44 Td (n/a) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 488.42 Td (Other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.50 488.42 Td (V) Tj ET Q
q 0 0 0 rg BT 130.50 488.42 Td (arious) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 297.25 488.44 Td (170) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 382.25 488.42 Td (224) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 470.45 488.44 Td (n/a) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 510.35 488.44 Td (V) Tj ET Q
q 0 0 0 rg BT 516.97 488.44 Td (arious ) Tj ET Q
BT /F2 10.50 Tf ET
BT /F2 6.82 Tf ET
q 0 0 0 rg BT 547.60 493.20 Td (\(3\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 473.87 Td (T) Tj ET Q
q 0 0 0 rg BT 58.18 473.87 Td (otal) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.50 473.87 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 251.50 474.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 284.10 474.04 Td (41,384) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 335.50 473.87 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 369.10 473.87 Td (52,772) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 420.50 474.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 455.10 474.04 Td (26,514) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 533.00 474.04 Td (�) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 459.95 Td (n/a - not applicable) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 449.75 Td (\(1\) ) Tj ET Q
q 0 0 0 rg BT 67.50 449.75 Td (Liquidation ) Tj ET Q
q 0 0 0 rg BT 109.40 449.75 Td (restrictions: ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 151.77 449.75 Td (1%) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 163.10 449.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 165.34 449.75 Td (daily ) Tj ET Q
q 0 0 0 rg BT 184.57 449.75 Td (redemption, ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 227.65 449.75 Td (20%) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 243.23 449.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 245.46 449.75 Td (monthly ) Tj ET Q
q 0 0 0 rg BT 276.04 449.75 Td (redemption, ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 319.11 449.75 Td (7%) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 330.44 449.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 332.68 449.75 Td (quarterly ) Tj ET Q
q 0 0 0 rg BT 365.60 449.75 Td (redemption, ) Tj ET Q
q 0 0 0 rg BT 408.67 449.75 Td (and ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 423.18 449.75 Td (72%) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 438.76 449.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 441.00 449.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 453.61 449.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 466.71 449.75 Td (subject ) Tj ET Q
q 0 0 0 rg BT 493.03 449.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 501.88 449.75 Td (redemption ) Tj ET Q
q 0 0 0 rg BT 542.82 449.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 552.14 449.75 Td (are ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 439.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 80.49 439.55 Td (currently ) Tj ET Q
q 0 0 0 rg BT 113.29 439.55 Td (redeemable.) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 429.35 Td (\(2\) ) Tj ET Q
q 0 0 0 rg BT 67.50 429.35 Td (Liquidations ) Tj ET Q
q 0 0 0 rg BT 112.60 429.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 125.10 429.35 Td (expected ) Tj ET Q
q 0 0 0 rg BT 157.43 429.35 Td (over ) Tj ET Q
q 0 0 0 rg BT 174.65 429.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 187.16 429.35 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 223.75 429.35 Td (term.) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 419.15 Td (\(3\) ) Tj ET Q
q 0 0 0 rg BT 67.50 419.15 Td (Of this balance, ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 123.20 419.15 Td (26%) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 138.79 419.15 Td ( has a remaining term of less than one year and ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 300.94 419.15 Td (74%) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 316.52 419.15 Td ( has a remaining term of ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 401.50 419.15 Td (14) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 410.00 419.15 Td ( years.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 396.35 Td (There are no current plans to sell any of these investments held as of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 339.91 396.35 Td (March 31, 2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 406.69 396.35 Td (.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 50.00 371.15 Td (4) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 55.25 371.15 Td (. ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 60.50 371.15 Td (FIXED ) Tj ET Q
q 0 0 0 rg BT 95.22 371.15 Td (ASSETS) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 134.33 371.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 345.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.95 345.95 Td (following ) Tj ET Q
q 0 0 0 rg BT 112.41 345.95 Td (table ) Tj ET Q
q 0 0 0 rg BT 135.44 345.95 Td (reflects ) Tj ET Q
q 0 0 0 rg BT 168.96 345.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 184.41 345.95 Td (components ) Tj ET Q
q 0 0 0 rg BT 237.78 345.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 249.15 345.95 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 273.35 345.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 300.47 345.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 311.85 345.95 Td (of:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 320.45 312.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
362.50 320.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
366.50 320.45 96.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
462.50 320.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
466.50 320.45 96.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 292.45 312.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
362.50 292.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
366.50 292.45 96.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
462.50 292.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
466.50 292.45 96.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 264.45 312.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
362.50 264.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
366.50 264.45 96.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
462.50 264.45 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
466.50 264.45 96.00 -14.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 320.45000000000005 m
362.5 320.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
366.5 320.45000000000005 m
462.5 320.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
466.5 320.45000000000005 m
562.5 320.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
366.5 320.45000000000005 m
462.5 320.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
466.5 320.45000000000005 m
562.5 320.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 278.45000000000005 m
362.5 278.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
366.5 278.45000000000005 m
462.5 278.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
466.5 278.45000000000005 m
562.5 278.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
366.5 278.45000000000005 m
462.5 278.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 250.45000000000005 m
362.5 250.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
366.5 250.45000000000005 m
462.5 250.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
466.5 250.45000000000005 m
562.5 250.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 236.45000000000005 m
362.5 236.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
366.5 250.45000000000005 m
462.5 250.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
366.5 236.45000000000005 m
462.5 236.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
466.5 236.45000000000005 m
562.5 236.45000000000005 l
s
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 379.20 325.24 Td (Mar) Tj ET Q
q 0 0 0 rg BT 398.83 325.24 Td (ch 31, 2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 480.60 325.22 Td (March 31, 2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 59.00 310.67 Td (Equipment) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 369.00 310.84 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 424.35 310.84 Td (172,308) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 469.00 310.67 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.35 310.67 Td (159,102) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 59.00 296.67 Td (Software) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 424.35 296.84 Td (323,088) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.35 296.67 Td (304,943) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 59.00 282.67 Td (Leasehold improvements) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 424.35 282.84 Td (209,810) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.35 282.67 Td (204,551) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 71.00 268.67 Td (T) Tj ET Q
q 0 0 0 rg BT 76.68 268.67 Td (otal cost) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 424.35 268.84 Td (705,206) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.35 268.67 Td (668,596) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 59.00 254.67 Td (Less: accumulated depreciation and amortization) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 420.85 254.84 Td (\(556,800) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 458.50 254.84 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 520.85 254.67 Td (\(508,934) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 254.67 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 59.00 240.67 Td (Fixed assets, net) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 369.00 240.84 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 424.35 240.84 Td (148,406) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 469.00 240.67 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.35 240.67 Td (159,662) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 211.75 Td (Depreciation ) Tj ET Q
q 0 0 0 rg BT 106.47 211.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 123.88 211.75 Td (amortization ) Tj ET Q
q 0 0 0 rg BT 179.19 211.75 Td (expense ) Tj ET Q
q 0 0 0 rg BT 215.26 211.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 246.07 211.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 256.48 211.75 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 280.30 211.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 307.05 211.75 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 325.63 211.75 Td ($48,382) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 359.75 211.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 364.62 211.75 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 369.87 211.75 Td (54,023) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 398.75 211.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 403.62 211.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 421.03 211.75 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 426.28 211.75 Td (55,318) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 59.00 472.97 Td (T) Tj ET Q
q 0 0 0 rg BT 65.04 472.97 Td (rade names) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 429.60 472.99 Td (68,479) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.60 472.97 Td (69,863) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 457.97 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 416.50 457.99 Td (3,638,739) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 516.50 457.97 Td (3,820,726) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 442.97 Td (Intangible assets, net) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 369.00 442.99 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 416.50 442.99 Td (3,797,659) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 469.00 442.97 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 516.50 442.97 Td (4,034,380) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 413.50 Td (Certain ) Tj ET Q
q 0 0 0 rg BT 83.56 413.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 94.95 413.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 119.18 413.50 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 156.39 413.50 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 201.03 413.50 Td (assets ) Tj ET Q
q 0 0 0 rg BT 228.18 413.50 Td (are ) Tj ET Q
q 0 0 0 rg BT 243.64 413.50 Td (denominated ) Tj ET Q
q 0 0 0 rg BT 300.53 413.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 311.34 413.50 Td (currencies ) Tj ET Q
q 0 0 0 rg BT 357.13 413.50 Td (other ) Tj ET Q
q 0 0 0 rg BT 381.36 413.50 Td (than ) Tj ET Q
q 0 0 0 rg BT 402.08 413.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 417.56 413.50 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 438.88 413.50 Td (dollar ) Tj ET Q
q 0 0 0 rg BT 466.03 413.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 483.84 413.50 Td (balances ) Tj ET Q
q 0 0 0 rg BT 522.63 413.50 Td (related ) Tj ET Q
q 0 0 0 rg BT 553.84 413.50 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 400.90 Td (these ) Tj ET Q
q 0 0 0 rg BT 74.20 400.90 Td (assets ) Tj ET Q
q 0 0 0 rg BT 101.32 400.90 Td (will ) Tj ET Q
q 0 0 0 rg BT 120.28 400.90 Td (fluctuate ) Tj ET Q
q 0 0 0 rg BT 159.64 400.90 Td (with ) Tj ET Q
q 0 0 0 rg BT 180.93 400.90 Td (changes ) Tj ET Q
q 0 0 0 rg BT 217.38 400.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 228.17 400.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 243.62 400.90 Td (related ) Tj ET Q
q 0 0 0 rg BT 274.81 400.90 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 307.76 400.90 Td (currency ) Tj ET Q
q 0 0 0 rg BT 347.11 400.90 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 389.37 400.90 Td (rates.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 50.00 375.70 Td (Indefinite-life ) Tj ET Q
q 0 0 0 rg BT 113.87 375.70 Td (Intangible ) Tj ET Q
q 0 0 0 rg BT 162.01 375.70 Td (Assets ) Tj ET Q
q 0 0 0 rg BT 192.64 375.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 212.19 375.70 Td (Goodwill) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 363.10 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 73.21 363.10 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 103.43 363.10 Td (completed ) Tj ET Q
q 0 0 0 rg BT 148.81 363.10 Td (its ) Tj ET Q
q 0 0 0 rg BT 160.37 363.10 Td (annual ) Tj ET Q
q 0 0 0 rg BT 189.99 363.10 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 240.04 363.10 Td (testing ) Tj ET Q
q 0 0 0 rg BT 269.67 363.10 Td (process ) Tj ET Q
q 0 0 0 rg BT 302.80 363.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 313.19 363.10 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 352.16 363.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 368.96 363.10 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 428.33 363.10 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 471.96 363.10 Td (assets ) Tj ET Q
q 0 0 0 rg BT 498.09 363.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 508.48 363.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 518.86 363.10 Td (December ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 350.50 Td (31, ) Tj ET Q
q 0 0 0 rg BT 65.21 350.50 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 90.92 350.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 108.17 350.50 Td (determined ) Tj ET Q
q 0 0 0 rg BT 157.48 350.50 Td (that ) Tj ET Q
q 0 0 0 rg BT 175.31 350.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 190.23 350.50 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 227.30 350.50 Td (value ) Tj ET Q
q 0 0 0 rg BT 252.12 350.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 262.95 350.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 277.87 350.50 Td (EnT) Tj ET Q
q 0 0 0 rg BT 295.57 350.50 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 343.15 350.50 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 402.96 350.50 Td (fund ) Tj ET Q
q 0 0 0 rg BT 424.30 350.50 Td (management ) Tj ET Q
q 0 0 0 rg BT 480.03 350.50 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 520.01 350.50 Td (intangible ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 337.90 Td (asset ) Tj ET Q
q 0 0 0 rg BT 72.66 337.90 Td (exceeded ) Tj ET Q
q 0 0 0 rg BT 113.95 337.90 Td (its ) Tj ET Q
q 0 0 0 rg BT 126.12 337.90 Td (fair ) Tj ET Q
q 0 0 0 rg BT 142.93 337.90 Td (value, ) Tj ET Q
q 0 0 0 rg BT 170.54 337.90 Td (which ) Tj ET Q
q 0 0 0 rg BT 198.45 337.90 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 233.93 337.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 244.34 337.90 Td (an ) Tj ET Q
q 0 0 0 rg BT 256.50 337.90 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 307.15 337.90 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 318.14 337.90 Td ($195,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 357.51 337.90 Td (. ) Tj ET Q
q 0 0 0 rg BT 362.38 337.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 364.46 337.90 Td (The ) Tj ET Q
q 0 0 0 rg BT 383.03 337.90 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 433.68 337.90 Td (char) Tj ET Q
q 0 0 0 rg BT 451.56 337.90 Td (ge ) Tj ET Q
q 0 0 0 rg BT 463.72 337.90 Td (was ) Tj ET Q
q 0 0 0 rg BT 482.29 337.90 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 523.61 337.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 538.68 337.90 Td (result ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 325.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.12 325.30 Td (net ) Tj ET Q
q 0 0 0 rg BT 76.33 325.30 Td (client ) Tj ET Q
q 0 0 0 rg BT 102.03 325.30 Td (outflows ) Tj ET Q
q 0 0 0 rg BT 141.16 325.30 Td (from ) Tj ET Q
q 0 0 0 rg BT 163.94 325.30 Td (legacy ) Tj ET Q
q 0 0 0 rg BT 193.72 325.30 Td (high ) Tj ET Q
q 0 0 0 rg BT 214.76 325.30 Td (net ) Tj ET Q
q 0 0 0 rg BT 229.97 325.30 Td (worth ) Tj ET Q
q 0 0 0 rg BT 256.84 325.30 Td (fund ) Tj ET Q
q 0 0 0 rg BT 278.46 325.30 Td (products, ) Tj ET Q
q 0 0 0 rg BT 319.63 325.30 Td (including ) Tj ET Q
q 0 0 0 rg BT 361.67 325.30 Td (transfers ) Tj ET Q
q 0 0 0 rg BT 400.19 325.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 411.32 325.30 Td (client ) Tj ET Q
q 0 0 0 rg BT 437.02 325.30 Td (funds ) Tj ET Q
q 0 0 0 rg BT 462.73 325.30 Td (from ) Tj ET Q
q 0 0 0 rg BT 485.51 325.30 Td (such ) Tj ET Q
q 0 0 0 rg BT 507.14 325.30 Td (products ) Tj ET Q
q 0 0 0 rg BT 545.67 325.30 Td (into ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 312.70 Td (EnT) Tj ET Q
q 0 0 0 rg BT 67.71 312.70 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 116.18 312.70 Td (separate ) Tj ET Q
q 0 0 0 rg BT 153.54 312.70 Td (accounts, ) Tj ET Q
q 0 0 0 rg BT 195.88 312.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 214.01 312.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 229.81 312.70 Td (related ) Tj ET Q
q 0 0 0 rg BT 261.35 312.70 Td (decline ) Tj ET Q
q 0 0 0 rg BT 294.64 312.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 305.78 312.70 Td (revenues. ) Tj ET Q
q 0 0 0 rg BT 348.70 312.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 351.67 312.70 Td (Management ) Tj ET Q
q 0 0 0 rg BT 409.46 312.70 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 452.67 312.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 468.47 312.70 Td (fair ) Tj ET Q
q 0 0 0 rg BT 486.02 312.70 Td (value ) Tj ET Q
q 0 0 0 rg BT 511.73 312.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 523.45 312.70 Td (this ) Tj ET Q
q 0 0 0 rg BT 541.59 312.70 Td (asset ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 300.10 Td (based ) Tj ET Q
q 0 0 0 rg BT 76.41 300.10 Td (upon ) Tj ET Q
q 0 0 0 rg BT 99.92 300.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 107.08 300.10 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 155.08 300.10 Td (cash ) Tj ET Q
q 0 0 0 rg BT 176.24 300.10 Td (flow ) Tj ET Q
q 0 0 0 rg BT 197.99 300.10 Td (analysis ) Tj ET Q
q 0 0 0 rg BT 234.33 300.10 Td (using ) Tj ET Q
q 0 0 0 rg BT 259.58 300.10 Td (unobservable ) Tj ET Q
q 0 0 0 rg BT 318.07 300.10 Td (market ) Tj ET Q
q 0 0 0 rg BT 349.73 300.10 Td (data ) Tj ET Q
q 0 0 0 rg BT 369.72 300.10 Td (inputs, ) Tj ET Q
q 0 0 0 rg BT 400.52 300.10 Td (which ) Tj ET Q
q 0 0 0 rg BT 428.69 300.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 444.01 300.10 Td (Level ) Tj ET Q
q 0 0 0 rg BT 470.42 300.10 Td (3 ) Tj ET Q
q 0 0 0 rg BT 478.17 300.10 Td (measurements. ) Tj ET Q
q 0 0 0 rg BT 543.37 300.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 545.69 300.10 Td (The ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 287.50 Td (significant ) Tj ET Q
q 0 0 0 rg BT 97.39 287.50 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 152.38 287.50 Td (used ) Tj ET Q
q 0 0 0 rg BT 174.70 287.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 185.93 287.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 201.83 287.50 Td (cash ) Tj ET Q
q 0 0 0 rg BT 223.56 287.50 Td (flow ) Tj ET Q
q 0 0 0 rg BT 245.87 287.50 Td (analysis ) Tj ET Q
q 0 0 0 rg BT 282.77 287.50 Td (included ) Tj ET Q
q 0 0 0 rg BT 321.99 287.50 Td (projected ) Tj ET Q
q 0 0 0 rg BT 364.13 287.50 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 400.42 287.50 Td (growth ) Tj ET Q
q 0 0 0 rg BT 433.24 287.50 Td (rates ) Tj ET Q
q 0 0 0 rg BT 456.13 287.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 474.36 287.50 Td (discount ) Tj ET Q
q 0 0 0 rg BT 513.01 287.50 Td (rates. ) Tj ET Q
q 0 0 0 rg BT 538.52 287.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 541.59 287.50 Td (Base ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 274.90 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 89.56 274.90 Td (related ) Tj ET Q
q 0 0 0 rg BT 120.37 274.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 130.79 274.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 145.87 274.90 Td (EnT) Tj ET Q
q 0 0 0 rg BT 163.58 274.90 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 211.32 274.90 Td (fund ) Tj ET Q
q 0 0 0 rg BT 232.81 274.90 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 272.96 274.90 Td (were ) Tj ET Q
q 0 0 0 rg BT 295.61 274.90 Td (assumed ) Tj ET Q
q 0 0 0 rg BT 334.02 274.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 344.43 274.90 Td (have ) Tj ET Q
q 0 0 0 rg BT 366.50 274.90 Td (annual ) Tj ET Q
q 0 0 0 rg BT 396.74 274.90 Td (growth ) Tj ET Q
q 0 0 0 rg BT 428.73 274.90 Td (\(contraction\) ) Tj ET Q
q 0 0 0 rg BT 485.21 274.90 Td (rates ) Tj ET Q
q 0 0 0 rg BT 507.28 274.90 Td (ranging ) Tj ET Q
q 0 0 0 rg BT 541.60 274.90 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 262.30 Td (\(13\)%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.24 262.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 78.82 262.30 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 89.57 262.30 Td (6%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 103.57 262.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 106.15 262.30 Td (\(average: ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 147.78 262.30 Td (5%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 161.78 262.30 Td (\), ) Tj ET Q
q 0 0 0 rg BT 170.48 262.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 188.23 262.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 203.63 262.30 Td (projected ) Tj ET Q
q 0 0 0 rg BT 245.28 262.30 Td (cash ) Tj ET Q
q 0 0 0 rg BT 266.52 262.30 Td (flows ) Tj ET Q
q 0 0 0 rg BT 292.43 262.30 Td (from ) Tj ET Q
q 0 0 0 rg BT 315.43 262.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 330.84 262.30 Td (EnT) Tj ET Q
q 0 0 0 rg BT 348.54 262.30 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 396.62 262.30 Td (fund ) Tj ET Q
q 0 0 0 rg BT 418.45 262.30 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 458.93 262.30 Td (were ) Tj ET Q
q 0 0 0 rg BT 481.91 262.30 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 529.99 262.30 Td (at ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 540.15 262.30 Td (15%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 559.39 262.30 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 237.10 Td (Projected ) Tj ET Q
q 0 0 0 rg BT 93.13 237.10 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 129.83 237.10 Td (growth ) Tj ET Q
q 0 0 0 rg BT 163.05 237.10 Td (rates ) Tj ET Q
q 0 0 0 rg BT 186.35 237.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 202.06 237.10 Td (this ) Tj ET Q
q 0 0 0 rg BT 220.71 237.10 Td (asset ) Tj ET Q
q 0 0 0 rg BT 244.59 237.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 260.88 237.10 Td (most ) Tj ET Q
q 0 0 0 rg BT 284.78 237.10 Td (dependent ) Tj ET Q
q 0 0 0 rg BT 331.40 237.10 Td (on ) Tj ET Q
q 0 0 0 rg BT 345.38 237.10 Td (client ) Tj ET Q
q 0 0 0 rg BT 371.41 237.10 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 399.38 237.10 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 428.81 237.10 Td (market ) Tj ET Q
q 0 0 0 rg BT 461.44 237.10 Td (conditions, ) Tj ET Q
q 0 0 0 rg BT 511.29 237.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 529.92 237.10 Td (product ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 224.50 Td (investment ) Tj ET Q
q 0 0 0 rg BT 98.20 224.50 Td (performance. ) Tj ET Q
q 0 0 0 rg BT 156.00 224.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 158.12 224.50 Td (Discount ) Tj ET Q
q 0 0 0 rg BT 198.16 224.50 Td (rates ) Tj ET Q
q 0 0 0 rg BT 220.10 224.50 Td (are ) Tj ET Q
q 0 0 0 rg BT 235.04 224.50 Td (also ) Tj ET Q
q 0 0 0 rg BT 254.08 224.50 Td (influenced ) Tj ET Q
q 0 0 0 rg BT 300.52 224.50 Td (by ) Tj ET Q
q 0 0 0 rg BT 313.14 224.50 Td (market ) Tj ET Q
q 0 0 0 rg BT 344.41 224.50 Td (conditions, ) Tj ET Q
q 0 0 0 rg BT 392.91 224.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 403.78 224.50 Td (well ) Tj ET Q
q 0 0 0 rg BT 423.98 224.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 434.85 224.50 Td (interest ) Tj ET Q
q 0 0 0 rg BT 467.88 224.50 Td (rates ) Tj ET Q
q 0 0 0 rg BT 489.82 224.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 507.11 224.50 Td (other ) Tj ET Q
q 0 0 0 rg BT 530.81 224.50 Td (factors. ) Tj ET Q
q 0 0 0 rg BT 564.62 224.50 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 211.90 Td (Decreases ) Tj ET Q
q 0 0 0 rg BT 96.61 211.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 108.83 211.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 125.71 211.90 Td (projected ) Tj ET Q
q 0 0 0 rg BT 168.82 211.90 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 206.10 211.90 Td (growth ) Tj ET Q
q 0 0 0 rg BT 239.90 211.90 Td (rates ) Tj ET Q
q 0 0 0 rg BT 263.77 211.90 Td (and/or ) Tj ET Q
q 0 0 0 rg BT 294.65 211.90 Td (increases ) Tj ET Q
q 0 0 0 rg BT 337.18 211.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 349.40 211.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 366.28 211.90 Td (discount ) Tj ET Q
q 0 0 0 rg BT 405.92 211.90 Td (rate ) Tj ET Q
q 0 0 0 rg BT 425.70 211.90 Td (could ) Tj ET Q
q 0 0 0 rg BT 453.08 211.90 Td (result ) Tj ET Q
q 0 0 0 rg BT 480.46 211.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 492.68 211.90 Td (lower ) Tj ET Q
q 0 0 0 rg BT 520.64 211.90 Td (fair ) Tj ET Q
q 0 0 0 rg BT 539.26 211.90 Td (value ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 199.30 Td (measurements ) Tj ET Q
q 0 0 0 rg BT 114.87 199.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 134.83 199.30 Td (potential ) Tj ET Q
q 0 0 0 rg BT 176.38 199.30 Td (additional ) Tj ET Q
q 0 0 0 rg BT 223.17 199.30 Td (impairments ) Tj ET Q
q 0 0 0 rg BT 280.47 199.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 293.44 199.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 311.07 199.30 Td (EnT) Tj ET Q
q 0 0 0 rg BT 328.78 199.30 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 379.07 199.30 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 441.60 199.30 Td (fund ) Tj ET Q
q 0 0 0 rg BT 465.65 199.30 Td (management ) Tj ET Q
q 0 0 0 rg BT 524.10 199.30 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 564.63 199.30 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 186.70 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 94.62 186.70 Td (asset, ) Tj ET Q
q 0 0 0 rg BT 120.28 186.70 Td (which ) Tj ET Q
q 0 0 0 rg BT 148.56 186.70 Td (could ) Tj ET Q
q 0 0 0 rg BT 174.52 186.70 Td (be ) Tj ET Q
q 0 0 0 rg BT 187.05 186.70 Td (significant.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 161.50 Td (There ) Tj ET Q
q 0 0 0 rg BT 77.62 161.50 Td (were ) Tj ET Q
q 0 0 0 rg BT 101.17 161.50 Td (no ) Tj ET Q
q 0 0 0 rg BT 114.81 161.50 Td (other ) Tj ET Q
q 0 0 0 rg BT 139.52 161.50 Td (impairments ) Tj ET Q
q 0 0 0 rg BT 195.16 161.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 206.47 161.50 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 267.33 161.50 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 312.47 161.50 Td (assets ) Tj ET Q
q 0 0 0 rg BT 340.11 161.50 Td (or ) Tj ET Q
q 0 0 0 rg BT 352.00 161.50 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 392.47 161.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 404.36 161.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 416.25 161.50 Td (December ) Tj ET Q
q 0 0 0 rg BT 462.53 161.50 Td (31, ) Tj ET Q
q 0 0 0 rg BT 478.80 161.50 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 505.56 161.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 508.71 161.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 533.42 161.50 Td (Mason ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 148.90 Td (also ) Tj ET Q
q 0 0 0 rg BT 69.54 148.90 Td (determined ) Tj ET Q
q 0 0 0 rg BT 119.40 148.90 Td (that ) Tj ET Q
q 0 0 0 rg BT 137.77 148.90 Td (no ) Tj ET Q
q 0 0 0 rg BT 150.89 148.90 Td (triggering ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 577.95 Td (life ) Tj ET Q
q 0 0 0 rg BT 66.65 577.95 Td (fund ) Tj ET Q
q 0 0 0 rg BT 88.55 577.95 Td (management ) Tj ET Q
q 0 0 0 rg BT 144.86 577.95 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 185.41 577.95 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 230.06 577.95 Td (asset ) Tj ET Q
q 0 0 0 rg BT 253.13 577.95 Td (exceeded ) Tj ET Q
q 0 0 0 rg BT 294.84 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 310.33 577.95 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 347.96 577.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 373.36 577.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 384.77 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 396.17 577.95 Td (June ) Tj ET Q
q 0 0 0 rg BT 418.07 577.95 Td (30, ) Tj ET Q
q 0 0 0 rg BT 433.86 577.95 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 457.51 577.95 Td (by ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.67 577.95 Td (7%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 484.67 577.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 487.32 577.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 505.14 577.95 Td (therefore ) Tj ET Q
q 0 0 0 rg BT 545.69 577.95 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 565.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 65.81 565.35 Td (impaired. ) Tj ET Q
q 0 0 0 rg BT 108.15 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 110.37 565.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 129.08 565.35 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 166.46 565.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 191.59 565.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 202.72 565.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 217.94 565.35 Td (trade ) Tj ET Q
q 0 0 0 rg BT 241.32 565.35 Td (name ) Tj ET Q
q 0 0 0 rg BT 266.45 565.35 Td (exceeded ) Tj ET Q
q 0 0 0 rg BT 307.90 565.35 Td (its ) Tj ET Q
q 0 0 0 rg BT 320.21 565.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 337.17 565.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 362.30 565.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 373.44 565.35 Td ($3,057) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 402.31 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 404.71 565.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 415.85 565.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 426.98 565.35 Td (June ) Tj ET Q
q 0 0 0 rg BT 448.62 565.35 Td (30, ) Tj ET Q
q 0 0 0 rg BT 464.14 565.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 490.16 565.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 518.21 565.35 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 553.84 565.35 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 552.75 Td (an ) Tj ET Q
q 0 0 0 rg BT 62.72 552.75 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 113.93 552.75 Td (char) Tj ET Q
q 0 0 0 rg BT 131.80 552.75 Td (ge ) Tj ET Q
q 0 0 0 rg BT 144.52 552.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 156.07 552.75 Td ($2,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 184.95 552.75 Td (. ) Tj ET Q
q 0 0 0 rg BT 190.38 552.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 193.18 552.75 Td (Management ) Tj ET Q
q 0 0 0 rg BT 250.80 552.75 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 293.84 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 309.47 552.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 326.85 552.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 352.39 552.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 363.94 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 379.58 552.75 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 410.39 552.75 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 470.33 552.75 Td (trade ) Tj ET Q
q 0 0 0 rg BT 494.12 552.75 Td (name ) Tj ET Q
q 0 0 0 rg BT 519.66 552.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 531.21 552.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 542.76 552.75 Td (June ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 540.15 Td (30, ) Tj ET Q
q 0 0 0 rg BT 66.32 540.15 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 90.51 540.15 Td (based ) Tj ET Q
q 0 0 0 rg BT 117.61 540.15 Td (upon ) Tj ET Q
q 0 0 0 rg BT 141.80 540.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 149.65 540.15 Td (relief ) Tj ET Q
q 0 0 0 rg BT 174.99 540.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 198.59 540.15 Td (royalty ) Tj ET Q
q 0 0 0 rg BT 231.53 540.15 Td (approach ) Tj ET Q
q 0 0 0 rg BT 273.20 540.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 291.55 540.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 299.40 540.15 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 348.08 540.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 369.93 540.15 Td (flow ) Tj ET Q
q 0 0 0 rg BT 392.37 540.15 Td (method ) Tj ET Q
q 0 0 0 rg BT 427.06 540.15 Td (using ) Tj ET Q
q 0 0 0 rg BT 453.00 540.15 Td (unobservable ) Tj ET Q
q 0 0 0 rg BT 512.18 540.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 544.52 540.15 Td (data ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 527.55 Td (inputs, ) Tj ET Q
q 0 0 0 rg BT 81.46 527.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 110.29 527.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 126.28 527.55 Td (Level ) Tj ET Q
q 0 0 0 rg BT 153.35 527.55 Td (3 ) Tj ET Q
q 0 0 0 rg BT 161.76 527.55 Td (measurements. ) Tj ET Q
q 0 0 0 rg BT 227.62 527.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 230.56 527.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 250.05 527.55 Td (significant ) Tj ET Q
q 0 0 0 rg BT 297.54 527.55 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 352.63 527.55 Td (used ) Tj ET Q
q 0 0 0 rg BT 375.04 527.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 386.38 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 402.37 527.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 424.20 527.55 Td (flow ) Tj ET Q
q 0 0 0 rg BT 446.61 527.55 Td (analysis ) Tj ET Q
q 0 0 0 rg BT 483.61 527.55 Td (included ) Tj ET Q
q 0 0 0 rg BT 522.93 527.55 Td (projected ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 514.95 Td (annual ) Tj ET Q
q 0 0 0 rg BT 80.61 514.95 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 116.47 514.95 Td (growth ) Tj ET Q
q 0 0 0 rg BT 148.84 514.95 Td (rates ) Tj ET Q
q 0 0 0 rg BT 171.29 514.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 182.66 514.95 Td (5%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 196.65 514.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 199.28 514.95 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 210.07 514.95 Td (18%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 229.32 514.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 231.94 514.95 Td (\(average: ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 273.62 514.95 Td (8%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 287.62 514.95 Td (\), ) Tj ET Q
q 0 0 0 rg BT 296.36 514.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 303.65 514.95 Td (royalty ) Tj ET Q
q 0 0 0 rg BT 336.02 514.95 Td (rate ) Tj ET Q
q 0 0 0 rg BT 354.38 514.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 365.75 514.95 Td (1.0%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 387.62 514.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 392.87 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 410.66 514.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 417.94 514.95 Td (discount ) Tj ET Q
q 0 0 0 rg BT 456.15 514.95 Td (rate ) Tj ET Q
q 0 0 0 rg BT 474.51 514.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 485.88 514.95 Td (16.5%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 513.00 514.95 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 489.75 Td (Projected ) Tj ET Q
q 0 0 0 rg BT 92.54 489.75 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 128.66 489.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 146.07 489.75 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 173.46 489.75 Td (growth ) Tj ET Q
q 0 0 0 rg BT 206.09 489.75 Td (rates ) Tj ET Q
q 0 0 0 rg BT 228.80 489.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 243.93 489.75 Td (this ) Tj ET Q
q 0 0 0 rg BT 261.99 489.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 285.29 489.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 301.00 489.75 Td (most ) Tj ET Q
q 0 0 0 rg BT 324.31 489.75 Td (dependent ) Tj ET Q
q 0 0 0 rg BT 370.34 489.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 383.73 489.75 Td (client ) Tj ET Q
q 0 0 0 rg BT 409.31 489.75 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 436.70 489.75 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 465.54 489.75 Td (market ) Tj ET Q
q 0 0 0 rg BT 497.58 489.75 Td (conditions, ) Tj ET Q
q 0 0 0 rg BT 546.84 489.75 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 477.15 Td (product ) Tj ET Q
q 0 0 0 rg BT 84.15 477.15 Td (investment ) Tj ET Q
q 0 0 0 rg BT 132.30 477.15 Td (performance. ) Tj ET Q
q 0 0 0 rg BT 190.05 477.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 192.12 477.15 Td (Discount ) Tj ET Q
q 0 0 0 rg BT 232.11 477.15 Td (rates ) Tj ET Q
q 0 0 0 rg BT 254.01 477.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 268.90 477.15 Td (also ) Tj ET Q
q 0 0 0 rg BT 287.89 477.15 Td (influenced ) Tj ET Q
q 0 0 0 rg BT 334.27 477.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 346.85 477.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 378.07 477.15 Td (conditions, ) Tj ET Q
q 0 0 0 rg BT 426.52 477.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 437.34 477.15 Td (well ) Tj ET Q
q 0 0 0 rg BT 457.50 477.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 468.32 477.15 Td (interest ) Tj ET Q
q 0 0 0 rg BT 501.30 477.15 Td (rates ) Tj ET Q
q 0 0 0 rg BT 523.19 477.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 540.43 477.15 Td (other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 464.55 Td (factors. ) Tj ET Q
q 0 0 0 rg BT 83.42 464.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 85.65 464.55 Td (Decreases ) Tj ET Q
q 0 0 0 rg BT 130.43 464.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 140.83 464.55 Td (projected ) Tj ET Q
q 0 0 0 rg BT 182.12 464.55 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 217.57 464.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 228.06 464.55 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 254.79 464.55 Td (growth ) Tj ET Q
q 0 0 0 rg BT 286.76 464.55 Td (rates ) Tj ET Q
q 0 0 0 rg BT 308.81 464.55 Td (and/or ) Tj ET Q
q 0 0 0 rg BT 337.86 464.55 Td (increases ) Tj ET Q
q 0 0 0 rg BT 378.57 464.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 388.96 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 404.02 464.55 Td (discount ) Tj ET Q
q 0 0 0 rg BT 441.83 464.55 Td (rate ) Tj ET Q
q 0 0 0 rg BT 459.79 464.55 Td (could ) Tj ET Q
q 0 0 0 rg BT 485.35 464.55 Td (result ) Tj ET Q
q 0 0 0 rg BT 510.90 464.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 521.30 464.55 Td (lower ) Tj ET Q
q 0 0 0 rg BT 547.44 464.55 Td (fair ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 451.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 75.36 451.95 Td (measurements ) Tj ET Q
q 0 0 0 rg BT 138.05 451.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 155.84 451.95 Td (potential ) Tj ET Q
q 0 0 0 rg BT 195.21 451.95 Td (additional ) Tj ET Q
q 0 0 0 rg BT 239.82 451.95 Td (impairments ) Tj ET Q
q 0 0 0 rg BT 294.94 451.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 305.73 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 321.18 451.95 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 351.81 451.95 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 411.57 451.95 Td (trade ) Tj ET Q
q 0 0 0 rg BT 435.18 451.95 Td (name ) Tj ET Q
q 0 0 0 rg BT 460.55 451.95 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 505.16 451.95 Td (asset. ) Tj ET Q
q 0 0 0 rg BT 530.83 451.95 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 426.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 73.77 426.75 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 110.53 426.75 Td (annual ) Tj ET Q
q 0 0 0 rg BT 140.71 426.75 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 191.31 426.75 Td (testing ) Tj ET Q
q 0 0 0 rg BT 221.51 426.75 Td (process ) Tj ET Q
q 0 0 0 rg BT 255.20 426.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 265.56 426.75 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 290.49 426.75 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 313.69 426.75 Td (determined ) Tj ET Q
q 0 0 0 rg BT 363.12 426.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 381.06 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 396.08 426.75 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 433.26 426.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 458.19 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 469.14 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 484.16 426.75 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 516.10 426.75 Td (trade ) Tj ET Q
q 0 0 0 rg BT 539.28 426.75 Td (name ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 414.15 Td (indefinite-life ) Tj ET Q
q 0 0 0 rg BT 109.89 414.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 132.46 414.15 Td (exceeded ) Tj ET Q
q 0 0 0 rg BT 173.67 414.15 Td (its ) Tj ET Q
q 0 0 0 rg BT 185.75 414.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 202.48 414.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 227.38 414.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 238.28 414.15 Td ($21,100) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 272.41 414.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 277.19 414.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 305.01 414.15 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 340.41 414.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 350.73 414.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 362.80 414.15 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 413.37 414.15 Td (char) Tj ET Q
q 0 0 0 rg BT 431.24 414.15 Td (ge ) Tj ET Q
q 0 0 0 rg BT 443.31 414.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 454.22 414.15 Td ($17,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 488.34 414.15 Td (. ) Tj ET Q
q 0 0 0 rg BT 493.13 414.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 495.13 414.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 513.61 414.15 Td (impairment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 401.55 Td (char) Tj ET Q
q 0 0 0 rg BT 67.88 401.55 Td (ge ) Tj ET Q
q 0 0 0 rg BT 80.07 401.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 98.67 401.55 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 140.03 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 155.13 401.55 Td (result ) Tj ET Q
q 0 0 0 rg BT 180.74 401.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 191.76 401.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 198.70 401.55 Td (decrease ) Tj ET Q
q 0 0 0 rg BT 237.12 401.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 247.56 401.55 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 287.15 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 304.59 401.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 311.53 401.55 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 353.46 401.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 363.91 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 379.01 401.55 Td (royalty ) Tj ET Q
q 0 0 0 rg BT 411.03 401.55 Td (rate, ) Tj ET Q
q 0 0 0 rg BT 431.67 401.55 Td (reflecting ) Tj ET Q
q 0 0 0 rg BT 474.18 401.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 481.11 401.55 Td (decline ) Tj ET Q
q 0 0 0 rg BT 513.71 401.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 524.15 401.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 539.26 401.55 Td (value ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 388.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.98 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 78.05 388.95 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 111.02 388.95 Td (trade ) Tj ET Q
q 0 0 0 rg BT 135.24 388.95 Td (name ) Tj ET Q
q 0 0 0 rg BT 161.22 388.95 Td (due ) Tj ET Q
q 0 0 0 rg BT 179.61 388.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 191.02 388.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 198.91 388.95 Td (change ) Tj ET Q
q 0 0 0 rg BT 231.88 388.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 243.28 388.95 Td (branding ) Tj ET Q
q 0 0 0 rg BT 283.84 388.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 302.24 388.95 Td (decline ) Tj ET Q
q 0 0 0 rg BT 335.79 388.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 347.19 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 363.26 388.95 Td (use ) Tj ET Q
q 0 0 0 rg BT 380.49 388.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 392.47 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 408.54 388.95 Td (separate ) Tj ET Q
q 0 0 0 rg BT 446.16 388.95 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 479.14 388.95 Td (name ) Tj ET Q
q 0 0 0 rg BT 505.12 388.95 Td (following ) Tj ET Q
q 0 0 0 rg BT 549.18 388.95 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 376.35 Td (combination ) Tj ET Q
q 0 0 0 rg BT 105.31 376.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 126.80 376.35 Td (EnT) Tj ET Q
q 0 0 0 rg BT 144.51 376.35 Td (rust. ) Tj ET Q
q 0 0 0 rg BT 165.71 376.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 168.53 376.35 Td (Management ) Tj ET Q
q 0 0 0 rg BT 226.17 376.35 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 269.23 376.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 284.88 376.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 302.27 376.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 327.83 376.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 339.40 376.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 355.05 376.35 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 387.62 376.35 Td (trade ) Tj ET Q
q 0 0 0 rg BT 411.43 376.35 Td (name ) Tj ET Q
q 0 0 0 rg BT 436.99 376.35 Td (based ) Tj ET Q
q 0 0 0 rg BT 463.72 376.35 Td (upon ) Tj ET Q
q 0 0 0 rg BT 487.54 376.35 Td (a ) Tj ET Q
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q 0 0 0 rg BT 543.34 376.35 Td (cash ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 363.75 Td (flow ) Tj ET Q
q 0 0 0 rg BT 71.95 363.75 Td (analysis ) Tj ET Q
q 0 0 0 rg BT 108.49 363.75 Td (using ) Tj ET Q
q 0 0 0 rg BT 133.95 363.75 Td (unobservable ) Tj ET Q
q 0 0 0 rg BT 192.64 363.75 Td (market ) Tj ET Q
q 0 0 0 rg BT 224.50 363.75 Td (data ) Tj ET Q
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q 0 0 0 rg BT 275.70 363.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 304.07 363.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 319.59 363.75 Td (Level ) Tj ET Q
q 0 0 0 rg BT 346.20 363.75 Td (3 ) Tj ET Q
q 0 0 0 rg BT 354.16 363.75 Td (measurements. ) Tj ET Q
q 0 0 0 rg BT 419.56 363.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 422.07 363.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 441.10 363.75 Td (significant ) Tj ET Q
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488.50 586.25 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
492.50 586.25 70.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 706.25 m
328.5 706.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
332.5 706.25 m
408.5 706.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
412.5 706.25 m
488.5 706.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
492.5 706.25 m
562.5 706.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 706.25 m
328.5 706.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
332.5 706.25 m
408.5 706.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
412.5 706.25 m
488.5 706.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
492.5 706.25 m
562.5 706.25 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 646.25 m
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
332.5 646.25 m
408.5 646.25 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
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3 M
412.5 646.25 m
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
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3 M
492.5 646.25 m
562.5 646.25 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
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3 M
50.5 646.25 m
328.5 646.25 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
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3 M
332.5 646.25 m
408.5 646.25 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
412.5 646.25 m
488.5 646.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
492.5 646.25 m
562.5 646.25 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
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3 M
50.5 586.25 m
328.5 586.25 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
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3 M
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
332.5 586.25 m
408.5 586.25 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
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3 M
332.5 571.25 m
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1.00 w
0 i 
[] 0 d
0 J
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3 M
412.5 586.25 m
488.5 586.25 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
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3 M
412.5 571.25 m
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
492.5 586.25 m
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
492.5 571.25 m
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 711.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.05 721.47 Td (Gross Book) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 358.00 710.97 Td (V) Tj ET Q
q 0 0 0 rg BT 365.00 710.97 Td (alue) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 422.00 721.47 Td (Accumulated) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 425.50 710.97 Td (Impairment) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 506.70 721.47 Td (Net Book) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 515.00 710.97 Td (V) Tj ET Q
q 0 0 0 rg BT 521.42 710.97 Td (alue) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 696.02 Td (Balance as of March 31, 2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 335.00 696.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 362.50 696.02 Td (2,641,416) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 415.00 696.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 439.00 696.02 Td (\(1,161,900) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 484.50 696.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.00 696.02 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 516.50 696.02 Td (1,479,516) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 681.02 Td (Impact of excess tax basis amortization) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 372.10 681.02 Td (\(20,818) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 404.50 681.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 474.00 681.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 526.10 681.02 Td (\(20,818) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 681.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 666.02 Td (Business acquisitions) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 143.13 670.78 Td (\(1\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 370.35 666.02 Td (491,835) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 474.00 666.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.35 666.02 Td (491,835) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 651.02 Td (Changes in foreign exchange rates and other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 372.10 651.02 Td (\(25,644) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 404.50 651.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 474.00 651.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 526.10 651.02 Td (\(25,644) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 651.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 636.02 Td (Balance as of March 31, 2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 362.50 636.02 Td (3,086,789) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 439.00 636.02 Td (\(1,161,900) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 484.50 636.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 516.50 636.02 Td (1,924,889) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 621.02 Td (Impact of excess tax basis amortization) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 372.10 621.02 Td (\(13,726) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 404.50 621.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 474.00 621.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 526.10 621.02 Td (\(13,726) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.50 621.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 606.02 Td (Business acquisitions) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 380.85 606.02 Td (1,460) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.85 606.02 Td (1,460) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 591.02 Td (Changes in foreign exchange rates and other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 375.60 591.02 Td (19,732) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 474.00 591.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.60 591.02 Td (19,732) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 53.00 576.04 Td (Balance as of Mar) Tj ET Q
q 0 0 0 rg BT 134.17 576.04 Td (ch 31, 2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 335.00 576.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 362.50 576.04 Td (3,094,255) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 415.00 576.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 439.00 576.04 Td (\(1,161,900) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 484.50 576.04 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 495.00 576.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 516.50 576.04 Td (1,932,355) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 50.00 561.55 Td (\(1\) ) Tj ET Q
q 0 0 0 rg BT 62.04 561.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 64.16 561.55 Td (See ) Tj ET Q
q 0 0 0 rg BT 78.56 561.55 Td (Note ) Tj ET Q
q 0 0 0 rg BT 97.21 561.55 Td (2 ) Tj ET Q
q 0 0 0 rg BT 103.58 561.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 115.62 561.55 Td (additional ) Tj ET Q
q 0 0 0 rg BT 151.74 561.55 Td (information.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 543.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 73.14 543.95 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 103.28 543.95 Td (recognizes ) Tj ET Q
q 0 0 0 rg BT 149.73 543.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 164.12 543.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 178.51 543.95 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 209.23 543.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 219.53 543.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 233.92 543.95 Td (amortization ) Tj ET Q
q 0 0 0 rg BT 288.55 543.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 298.86 543.95 Td (excess ) Tj ET Q
q 0 0 0 rg BT 327.82 543.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 342.21 543.95 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 372.93 543.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 403.05 543.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 412.78 543.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 427.17 543.95 Td (CAM ) Tj ET Q
q 0 0 0 rg BT 452.65 543.95 Td (acquisition. ) Tj ET Q
q 0 0 0 rg BT 502.92 543.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 504.48 543.95 Td (In ) Tj ET Q
q 0 0 0 rg BT 514.79 543.95 Td (accordance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 531.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 70.89 531.35 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 119.19 531.35 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 159.31 531.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 173.78 531.35 Td (income ) Tj ET Q
q 0 0 0 rg BT 206.92 531.35 Td (taxes, ) Tj ET Q
q 0 0 0 rg BT 233.34 531.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 248.40 531.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 263.45 531.35 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 294.83 531.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 304.06 531.35 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 343.01 531.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 353.99 531.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 360.88 531.35 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 402.75 531.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 413.73 531.35 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 453.29 531.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 470.68 531.35 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 507.88 531.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 522.93 531.35 Td (liabilities ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 518.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 61.37 518.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 76.83 518.75 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 108.60 518.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 118.23 518.75 Td (realized.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 50.00 493.55 Td (Amortizable ) Tj ET Q
q 0 0 0 rg BT 108.61 493.55 Td (Intangible ) Tj ET Q
q 0 0 0 rg BT 156.75 493.55 Td (Asset ) Tj ET Q
q 0 0 0 rg BT 183.29 493.55 Td (Management ) Tj ET Q
q 0 0 0 rg BT 244.82 493.55 Td (Contracts ) Tj ET Q
q 0 0 0 rg BT 291.77 493.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 311.32 493.55 Td (Other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 480.95 Td (During ) Tj ET Q
q 0 0 0 rg BT 83.39 480.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 99.87 480.95 Td (three ) Tj ET Q
q 0 0 0 rg BT 124.50 480.95 Td (months ) Tj ET Q
q 0 0 0 rg BT 159.07 480.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 187.79 480.95 Td (June ) Tj ET Q
q 0 0 0 rg BT 210.68 480.95 Td (30, ) Tj ET Q
q 0 0 0 rg BT 227.45 480.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 254.72 480.95 Td (projected ) Tj ET Q
q 0 0 0 rg BT 297.43 480.95 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 338.39 480.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 370.60 480.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 382.42 480.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 398.89 480.95 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 430.54 480.95 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 491.33 480.95 Td (separate ) Tj ET Q
q 0 0 0 rg BT 529.36 480.95 Td (account ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 468.35 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 90.49 468.35 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 142.64 468.35 Td (asset ) Tj ET Q
q 0 0 0 rg BT 165.64 468.35 Td (declined ) Tj ET Q
q 0 0 0 rg BT 203.80 468.35 Td (due ) Tj ET Q
q 0 0 0 rg BT 221.55 468.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 232.31 468.35 Td (losses ) Tj ET Q
q 0 0 0 rg BT 259.99 468.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 271.32 468.35 Td (separate ) Tj ET Q
q 0 0 0 rg BT 308.31 468.35 Td (account ) Tj ET Q
q 0 0 0 rg BT 342.97 468.35 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 370.07 468.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 387.82 468.35 Td (other ) Tj ET Q
q 0 0 0 rg BT 411.98 468.35 Td (factors, ) Tj ET Q
q 0 0 0 rg BT 445.77 468.35 Td (including ) Tj ET Q
q 0 0 0 rg BT 488.02 468.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 503.44 468.35 Td (withdrawal ) Tj ET Q
q 0 0 0 rg BT 553.27 468.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 455.75 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 112.81 455.75 Td ($1,500,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 160.06 455.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 162.21 455.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 174.87 455.75 Td (an ) Tj ET Q
q 0 0 0 rg BT 186.94 455.75 Td (institutional ) Tj ET Q
q 0 0 0 rg BT 239.26 455.75 Td (client ) Tj ET Q
q 0 0 0 rg BT 264.75 455.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 275.07 455.75 Td (June ) Tj ET Q
q 0 0 0 rg BT 296.47 455.75 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 322.26 455.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 324.41 455.75 Td (Based ) Tj ET Q
q 0 0 0 rg BT 352.23 455.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 364.89 455.75 Td (revised ) Tj ET Q
q 0 0 0 rg BT 397.37 455.75 Td (attrition ) Tj ET Q
q 0 0 0 rg BT 432.77 455.75 Td (estimates, ) Tj ET Q
q 0 0 0 rg BT 476.63 455.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 491.61 455.75 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 536.34 455.75 Td (useful ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 443.15 Td (life ) Tj ET Q
q 0 0 0 rg BT 66.98 443.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 78.72 443.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 94.54 443.15 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 133.68 443.15 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 174.58 443.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 193.90 443.15 Td (decreased ) Tj ET Q
q 0 0 0 rg BT 238.28 443.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 261.68 443.15 Td (eight ) Tj ET Q
q 0 0 0 rg BT 285.67 443.15 Td (years ) Tj ET Q
q 0 0 0 rg BT 310.82 443.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 321.98 443.15 Td (five ) Tj ET Q
q 0 0 0 rg BT 341.29 443.15 Td (years ) Tj ET Q
q 0 0 0 rg BT 366.44 443.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 377.01 443.15 Td (June ) Tj ET Q
q 0 0 0 rg BT 399.25 443.15 Td (30, ) Tj ET Q
q 0 0 0 rg BT 415.37 443.15 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 441.99 443.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 444.32 443.15 Td (As ) Tj ET Q
q 0 0 0 rg BT 458.98 443.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 466.63 443.15 Td (result ) Tj ET Q
q 0 0 0 rg BT 492.96 443.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 504.70 443.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 520.52 443.15 Td (decline ) Tj ET Q
q 0 0 0 rg BT 553.83 443.15 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 430.55 Td (projected ) Tj ET Q
q 0 0 0 rg BT 92.10 430.55 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 132.45 430.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 150.65 430.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 166.52 430.55 Td (revised ) Tj ET Q
q 0 0 0 rg BT 199.88 430.55 Td (estimate ) Tj ET Q
q 0 0 0 rg BT 237.90 430.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 249.69 430.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 265.55 430.55 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 311.16 430.55 Td (useful ) Tj ET Q
q 0 0 0 rg BT 339.86 430.55 Td (life, ) Tj ET Q
q 0 0 0 rg BT 359.51 430.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 375.38 430.55 Td (amortized ) Tj ET Q
q 0 0 0 rg BT 420.40 430.55 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 458.42 430.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 484.19 430.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 503.56 430.55 Td (determined ) Tj ET Q
q 0 0 0 rg BT 553.83 430.55 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 417.95 Td (exceed ) Tj ET Q
q 0 0 0 rg BT 82.58 417.95 Td (its ) Tj ET Q
q 0 0 0 rg BT 95.93 417.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 113.93 417.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 140.10 417.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 158.70 417.95 Td (an ) Tj ET Q
q 0 0 0 rg BT 172.04 417.95 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 223.88 417.95 Td (char) Tj ET Q
q 0 0 0 rg BT 241.76 417.95 Td (ge ) Tj ET Q
q 0 0 0 rg BT 255.10 417.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 267.28 417.95 Td ($32,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 301.40 417.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 304.84 417.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 324.60 417.95 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 364.76 417.95 Td (during ) Tj ET Q
q 0 0 0 rg BT 395.60 417.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 411.87 417.95 Td (three ) Tj ET Q
q 0 0 0 rg BT 436.28 417.95 Td (months ) Tj ET Q
q 0 0 0 rg BT 470.64 417.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 499.14 417.95 Td (June ) Tj ET Q
q 0 0 0 rg BT 521.82 417.95 Td (30, ) Tj ET Q
q 0 0 0 rg BT 538.38 417.95 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 564.63 417.95 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 405.35 Td (Management ) Tj ET Q
q 0 0 0 rg BT 107.24 405.35 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 149.90 405.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 165.15 405.35 Td ($1) Tj ET Q
q 0 0 0 rg BT 175.26 405.35 Td (1,180) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 198.89 405.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 201.31 405.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 218.31 405.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 243.47 405.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 254.64 405.35 Td (this ) Tj ET Q
q 0 0 0 rg BT 272.23 405.35 Td (asset ) Tj ET Q
q 0 0 0 rg BT 295.07 405.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 306.24 405.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 317.41 405.35 Td (June ) Tj ET Q
q 0 0 0 rg BT 339.08 405.35 Td (30, ) Tj ET Q
q 0 0 0 rg BT 354.63 405.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 380.68 405.35 Td (based ) Tj ET Q
q 0 0 0 rg BT 407.01 405.35 Td (upon ) Tj ET Q
q 0 0 0 rg BT 430.44 405.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 437.52 405.35 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 485.44 405.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 506.52 405.35 Td (flow ) Tj ET Q
q 0 0 0 rg BT 528.19 405.35 Td (analysis ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 392.75 Td (using ) Tj ET Q
q 0 0 0 rg BT 75.99 392.75 Td (unobservable ) Tj ET Q
q 0 0 0 rg BT 135.21 392.75 Td (market ) Tj ET Q
q 0 0 0 rg BT 167.60 392.75 Td (inputs, ) Tj ET Q
q 0 0 0 rg BT 199.13 392.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 228.03 392.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 244.08 392.75 Td (Level ) Tj ET Q
q 0 0 0 rg BT 271.22 392.75 Td (3 ) Tj ET Q
q 0 0 0 rg BT 279.71 392.75 Td (measurements. ) Tj ET Q
q 0 0 0 rg BT 345.63 392.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 348.64 392.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 368.20 392.75 Td (significant ) Tj ET Q
q 0 0 0 rg BT 415.76 392.75 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 470.92 392.75 Td (used ) Tj ET Q
q 0 0 0 rg BT 493.40 392.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 504.80 392.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 520.87 392.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 542.76 392.75 Td (flow ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 380.15 Td (analysis ) Tj ET Q
q 0 0 0 rg BT 86.45 380.15 Td (included ) Tj ET Q
q 0 0 0 rg BT 125.24 380.15 Td (projected ) Tj ET Q
q 0 0 0 rg BT 166.34 380.15 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 193.47 380.15 Td (growth ) Tj ET Q
q 0 0 0 rg BT 225.84 380.15 Td (rates ) Tj ET Q
q 0 0 0 rg BT 248.29 380.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 259.66 380.15 Td (7%) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 273.66 380.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 278.66 380.15 Td (attrition ) Tj ET Q
q 0 0 0 rg BT 312.82 380.15 Td (rates ) Tj ET Q
q 0 0 0 rg BT 334.20 380.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.03 380.15 Td (20%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 364.27 380.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 369.52 380.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 387.31 380.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 394.59 380.15 Td (discount ) Tj ET Q
q 0 0 0 rg BT 432.80 380.15 Td (rate ) Tj ET Q
q 0 0 0 rg BT 451.16 380.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 462.53 380.15 Td (16.5%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 489.65 380.15 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 354.95 Td (Projected ) Tj ET Q
q 0 0 0 rg BT 92.03 354.95 Td (revenue, ) Tj ET Q
q 0 0 0 rg BT 129.73 354.95 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 156.61 354.95 Td (growth ) Tj ET Q
q 0 0 0 rg BT 188.73 354.95 Td (rates ) Tj ET Q
q 0 0 0 rg BT 210.93 354.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 228.46 354.95 Td (client ) Tj ET Q
q 0 0 0 rg BT 254.16 354.95 Td (attrition ) Tj ET Q
q 0 0 0 rg BT 289.78 354.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 304.98 354.95 Td (most ) Tj ET Q
q 0 0 0 rg BT 327.77 354.95 Td (dependent ) Tj ET Q
q 0 0 0 rg BT 373.30 354.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 386.17 354.95 Td (client ) Tj ET Q
q 0 0 0 rg BT 411.35 354.95 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 438.22 354.95 Td (flows, ) Tj ET Q
q 0 0 0 rg BT 466.56 354.95 Td (market ) Tj ET Q
q 0 0 0 rg BT 498.09 354.95 Td (conditions, ) Tj ET Q
q 0 0 0 rg BT 546.83 354.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 342.35 Td (product ) Tj ET Q
q 0 0 0 rg BT 84.15 342.35 Td (investment ) Tj ET Q
q 0 0 0 rg BT 132.30 342.35 Td (performance. ) Tj ET Q
q 0 0 0 rg BT 190.05 342.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 192.12 342.35 Td (Discount ) Tj ET Q
q 0 0 0 rg BT 232.11 342.35 Td (rates ) Tj ET Q
q 0 0 0 rg BT 254.01 342.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 268.90 342.35 Td (also ) Tj ET Q
q 0 0 0 rg BT 287.89 342.35 Td (influenced ) Tj ET Q
q 0 0 0 rg BT 334.27 342.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 346.85 342.35 Td (market ) Tj ET Q
q 0 0 0 rg BT 378.07 342.35 Td (conditions, ) Tj ET Q
q 0 0 0 rg BT 426.52 342.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 437.34 342.35 Td (well ) Tj ET Q
q 0 0 0 rg BT 457.50 342.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 468.32 342.35 Td (interest ) Tj ET Q
q 0 0 0 rg BT 501.30 342.35 Td (rates ) Tj ET Q
q 0 0 0 rg BT 523.19 342.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 540.43 342.35 Td (other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 329.75 Td (factors. ) Tj ET Q
q 0 0 0 rg BT 83.42 329.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 85.65 329.75 Td (Decreases ) Tj ET Q
q 0 0 0 rg BT 130.43 329.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 140.83 329.75 Td (projected ) Tj ET Q
q 0 0 0 rg BT 182.12 329.75 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 217.57 329.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 228.06 329.75 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 254.79 329.75 Td (growth ) Tj ET Q
q 0 0 0 rg BT 286.76 329.75 Td (rates ) Tj ET Q
q 0 0 0 rg BT 308.81 329.75 Td (and/or ) Tj ET Q
q 0 0 0 rg BT 337.86 329.75 Td (increases ) Tj ET Q
q 0 0 0 rg BT 378.57 329.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 388.96 329.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 404.02 329.75 Td (discount ) Tj ET Q
q 0 0 0 rg BT 441.83 329.75 Td (rate ) Tj ET Q
q 0 0 0 rg BT 459.79 329.75 Td (could ) Tj ET Q
q 0 0 0 rg BT 485.35 329.75 Td (result ) Tj ET Q
q 0 0 0 rg BT 510.90 329.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 521.30 329.75 Td (lower ) Tj ET Q
q 0 0 0 rg BT 547.44 329.75 Td (fair ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 317.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 74.44 317.15 Td (measurements ) Tj ET Q
q 0 0 0 rg BT 136.22 317.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 153.08 317.15 Td (potential ) Tj ET Q
q 0 0 0 rg BT 191.53 317.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 235.23 317.15 Td (impairments ) Tj ET Q
q 0 0 0 rg BT 289.42 317.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 299.30 317.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 313.83 317.15 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 343.54 317.15 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 402.38 317.15 Td (separate ) Tj ET Q
q 0 0 0 rg BT 438.48 317.15 Td (account ) Tj ET Q
q 0 0 0 rg BT 472.84 317.15 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 512.44 317.15 Td (amortizable ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 304.55 Td (asset.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 279.35 Td (There ) Tj ET Q
q 0 0 0 rg BT 77.42 279.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 100.75 279.35 Td (no ) Tj ET Q
q 0 0 0 rg BT 114.19 279.35 Td (other ) Tj ET Q
q 0 0 0 rg BT 138.70 279.35 Td (impairments ) Tj ET Q
q 0 0 0 rg BT 194.12 279.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 205.23 279.35 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 257.72 279.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 314.30 279.35 Td (contract ) Tj ET Q
q 0 0 0 rg BT 351.05 279.35 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 395.98 279.35 Td (assets ) Tj ET Q
q 0 0 0 rg BT 423.41 279.35 Td (during ) Tj ET Q
q 0 0 0 rg BT 453.76 279.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 469.52 279.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 490.52 279.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 518.53 279.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 548.87 279.35 Td (31, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 266.75 Td (2018.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 254.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 241.55 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.78 241.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 74.64 241.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 104.15 241.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 119.38 241.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 145.12 241.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 160.06 241.55 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 193.66 241.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 210.93 241.55 Td (EnT) Tj ET Q
q 0 0 0 rg BT 228.64 241.55 Td (rust ) Tj ET Q
q 0 0 0 rg BT 246.50 241.55 Td (separate ) Tj ET Q
q 0 0 0 rg BT 283.01 241.55 Td (account ) Tj ET Q
q 0 0 0 rg BT 317.77 241.55 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 357.77 241.55 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 409.44 241.55 Td (assets ) Tj ET Q
q 0 0 0 rg BT 436.05 241.55 Td (net ) Tj ET Q
q 0 0 0 rg BT 450.99 241.55 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 488.08 241.55 Td (values ) Tj ET Q
q 0 0 0 rg BT 517.02 241.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 527.87 241.55 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.12 241.55 Td (82,158) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 562.00 241.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 228.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 66.69 228.95 Td ($49,807) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 100.82 228.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 104.97 228.95 Td (respectively) Tj ET Q
q 0 0 0 rg BT 155.02 228.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 159.18 228.95 Td (comprise ) Tj ET Q
q 0 0 0 rg BT 199.20 228.95 Td (more ) Tj ET Q
q 0 0 0 rg BT 222.30 228.95 Td (than ) Tj ET Q
q 0 0 0 rg BT 241.91 228.95 Td (80% ) Tj ET Q
q 0 0 0 rg BT 262.69 228.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 272.97 228.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 296.08 228.95 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 332.17 228.95 Td (total ) Tj ET Q
q 0 0 0 rg BT 352.37 228.95 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 403.46 228.95 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 446.98 228.95 Td (asset ) Tj ET Q
q 0 0 0 rg BT 468.92 228.95 Td (management ) Tj ET Q
q 0 0 0 rg BT 524.10 228.95 Td (contracts ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 216.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.48 216.35 Td (other ) Tj ET Q
q 0 0 0 rg BT 91.37 216.35 Td (aggregate ) Tj ET Q
q 0 0 0 rg BT 134.49 216.35 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 171.79 216.35 Td (value. ) Tj ET Q
q 0 0 0 rg BT 199.47 216.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 201.27 216.35 Td (As ) Tj ET Q
q 0 0 0 rg BT 215.26 216.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 226.32 216.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 256.04 216.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 271.48 216.35 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 297.42 216.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 312.57 216.35 Td (cumulative ) Tj ET Q
q 0 0 0 rg BT 361.53 216.35 Td (undiscounted ) Tj ET Q
q 0 0 0 rg BT 419.84 216.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 440.82 216.35 Td (flows ) Tj ET Q
q 0 0 0 rg BT 466.47 216.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 497.35 216.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 507.83 216.35 Td (each ) Tj ET Q
q 0 0 0 rg BT 529.38 216.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 540.44 216.35 Td (these ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 203.75 Td (separate ) Tj ET Q
q 0 0 0 rg BT 87.38 203.75 Td (account ) Tj ET Q
q 0 0 0 rg BT 123.02 203.75 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 163.91 203.75 Td (amortizable ) Tj ET Q
q 0 0 0 rg BT 216.46 203.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 243.95 203.75 Td (exceeded ) Tj ET Q
q 0 0 0 rg BT 285.99 203.75 Td (their ) Tj ET Q
q 0 0 0 rg BT 308.22 203.75 Td (respective ) Tj ET Q
q 0 0 0 rg BT 353.77 203.75 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 391.74 203.75 Td (values ) Tj ET Q
q 0 0 0 rg BT 421.56 203.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 435.04 203.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 442.69 203.75 Td (material ) Tj ET Q
q 0 0 0 rg BT 480.08 203.75 Td (amount. ) Tj ET Q
q 0 0 0 rg BT 517.19 203.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 519.97 203.75 Td (There ) Tj ET Q
q 0 0 0 rg BT 547.44 203.75 Td (can ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 191.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 61.54 191.15 Td (no ) Tj ET Q
q 0 0 0 rg BT 73.66 191.15 Td (assurance ) Tj ET Q
q 0 0 0 rg BT 116.10 191.15 Td (that ) Tj ET Q
q 0 0 0 rg BT 133.47 191.15 Td (future ) Tj ET Q
q 0 0 0 rg BT 160.17 191.15 Td (client ) Tj ET Q
q 0 0 0 rg BT 185.12 191.15 Td (attrition, ) Tj ET Q
q 0 0 0 rg BT 222.61 191.15 Td (asset ) Tj ET Q
q 0 0 0 rg BT 244.65 191.15 Td (outflows, ) Tj ET Q
q 0 0 0 rg BT 285.65 191.15 Td (market ) Tj ET Q
q 0 0 0 rg BT 316.43 191.15 Td (uncertainty) Tj ET Q
q 0 0 0 rg BT 362.98 191.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 367.23 191.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 377.60 191.15 Td (other ) Tj ET Q
q 0 0 0 rg BT 400.80 191.15 Td (factors, ) Tj ET Q
q 0 0 0 rg BT 433.62 191.15 Td (will ) Tj ET Q
q 0 0 0 rg BT 451.58 191.15 Td (not ) Tj ET Q
q 0 0 0 rg BT 466.62 191.15 Td (produce ) Tj ET Q
q 0 0 0 rg BT 502.07 191.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 513.60 191.15 Td (impairment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 178.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.79 178.55 Td (either ) Tj ET Q
q 0 0 0 rg BT 87.32 178.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 98.69 178.55 Td (these ) Tj ET Q
q 0 0 0 rg BT 122.89 178.55 Td (assets.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 153.35 Td (During ) Tj ET Q
q 0 0 0 rg BT 82.15 153.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 97.39 153.35 Td (nine ) Tj ET Q
q 0 0 0 rg BT 117.88 153.35 Td (months ) Tj ET Q
q 0 0 0 rg BT 151.20 153.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 178.68 153.35 Td (December ) Tj ET Q
q 0 0 0 rg BT 224.23 153.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 239.76 153.35 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 265.79 153.35 Td (revenues ) Tj ET Q
q 0 0 0 rg BT 305.52 153.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 336.49 153.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 347.06 153.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 362.30 153.35 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 392.71 153.35 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 452.25 153.35 Td (separate ) Tj ET Q
q 0 0 0 rg BT 489.05 153.35 Td (account ) Tj ET Q
q 0 0 0 rg BT 524.11 153.35 Td (contracts ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 140.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 72.81 140.75 Td (declined. ) Tj ET Q
q 0 0 0 rg BT 113.40 140.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 115.80 140.75 Td (Based ) Tj ET Q
q 0 0 0 rg BT 143.86 140.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 156.75 140.75 Td (revised ) Tj ET Q
q 0 0 0 rg BT 189.47 140.75 Td (attrition ) Tj ET Q
q 0 0 0 rg BT 225.12 140.75 Td (estimates, ) Tj ET Q
q 0 0 0 rg BT 269.21 140.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 284.44 140.75 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 329.41 140.75 Td (useful ) Tj ET Q
q 0 0 0 rg BT 357.47 140.75 Td (life ) Tj ET Q
q 0 0 0 rg BT 373.86 140.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 385.00 140.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 400.23 140.75 Td (acquired ) Tj ET Q
q 0 0 0 rg BT 438.77 140.75 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 479.07 140.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 497.80 140.75 Td (decreased ) Tj ET Q
q 0 0 0 rg BT 541.58 140.75 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 128.15 Td (1) Tj ET Q
q 0 0 0 rg BT 54.86 128.15 Td (1 ) Tj ET Q
q 0 0 0 rg BT 63.30 128.15 Td (years ) Tj ET Q
q 0 0 0 rg BT 88.65 128.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 100.01 128.15 Td (eight ) Tj ET Q
q 0 0 0 rg BT 124.20 128.15 Td (years ) Tj ET Q
q 0 0 0 rg BT 149.55 128.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 160.32 128.15 Td (December ) Tj ET Q
q 0 0 0 rg BT 206.65 128.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 222.97 128.15 Td (2016. ) Tj ET Q
q 0 0 0 rg BT 249.79 128.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 252.27 128.15 Td (As ) Tj ET Q
q 0 0 0 rg BT 267.14 128.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 274.99 128.15 Td (result ) Tj ET Q
q 0 0 0 rg BT 301.51 128.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 313.45 128.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 329.47 128.15 Td (client ) Tj ET Q
q 0 0 0 rg BT 355.99 128.15 Td (attrition, ) Tj ET Q
q 0 0 0 rg BT 395.05 128.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 411.07 128.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 442.83 128.15 Td (decline ) Tj ET Q
q 0 0 0 rg BT 476.34 128.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 487.70 128.15 Td (revenues, ) Tj ET Q
q 0 0 0 rg BT 530.83 128.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 549.18 128.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 115.55 Td (revised ) Tj ET Q
q 0 0 0 rg BT 82.13 115.55 Td (estimate ) Tj ET Q
q 0 0 0 rg BT 118.92 115.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 129.47 115.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 144.10 115.55 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 188.47 115.55 Td (useful ) Tj ET Q
q 0 0 0 rg BT 215.94 115.55 Td (life, ) Tj ET Q
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q 0 0 0 rg BT 50.00 469.95 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 92.27 469.95 Td (purposes.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 444.75 Td (As ) Tj ET Q
q 0 0 0 rg BT 64.59 444.75 Td (further ) Tj ET Q
q 0 0 0 rg BT 96.07 444.75 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 139.24 444.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 150.32 444.75 Td (Note ) Tj ET Q
q 0 0 0 rg BT 173.65 444.75 Td (12, ) Tj ET Q
q 0 0 0 rg BT 189.69 444.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 203.11 444.75 Td (December ) Tj ET Q
q 0 0 0 rg BT 249.17 444.75 Td (22, ) Tj ET Q
q 0 0 0 rg BT 265.21 444.75 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 291.75 444.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 316.25 444.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 347.75 444.75 Td (borrowed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 390.90 444.75 Td ($225,500) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 430.28 444.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 433.19 444.75 Td (under ) Tj ET Q
q 0 0 0 rg BT 460.02 444.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 475.76 444.75 Td (Credit ) Tj ET Q
q 0 0 0 rg BT 504.28 444.75 Td (Agreement ) Tj ET Q
q 0 0 0 rg BT 553.85 444.75 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 432.15 Td (purchase ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 89.84 432.15 Td (5,568) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 113.46 432.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 115.98 432.15 Td (shares ) Tj ET Q
q 0 0 0 rg BT 144.74 432.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 156.01 432.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 180.11 432.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 211.21 432.15 Td (common ) Tj ET Q
q 0 0 0 rg BT 250.48 432.15 Td (stock ) Tj ET Q
q 0 0 0 rg BT 275.16 432.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 298.10 432.15 Td (Shanda ) Tj ET Q
q 0 0 0 rg BT 330.97 432.15 Td (Asset ) Tj ET Q
q 0 0 0 rg BT 356.83 432.15 Td (Management ) Tj ET Q
q 0 0 0 rg BT 414.16 432.15 Td (Investment ) Tj ET Q
q 0 0 0 rg BT 463.34 432.15 Td (Limited ) Tj ET Q
q 0 0 0 rg BT 499.10 432.15 Td (\("Shanda"\). ) Tj ET Q
q 0 0 0 rg BT 550.73 432.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 553.25 432.15 Td (In ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 419.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 80.25 419.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 106.73 419.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 131.15 419.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 162.58 419.55 Td (repaid ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 191.66 419.55 Td ($100,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 231.04 419.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 233.89 419.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 245.48 419.55 Td (these ) Tj ET Q
q 0 0 0 rg BT 269.90 419.55 Td (borrowings, ) Tj ET Q
q 0 0 0 rg BT 323.21 419.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 341.22 419.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 352.81 419.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 364.41 419.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 394.66 419.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 410.63 419.55 Td (2018, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 437.11 419.55 Td ($125,500) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 476.48 419.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 479.33 419.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 490.92 419.55 Td (borrowings ) Tj ET Q
q 0 0 0 rg BT 541.60 419.55 Td (were ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 406.95 Td (outstanding ) Tj ET Q
q 0 0 0 rg BT 101.67 406.95 Td (under ) Tj ET Q
q 0 0 0 rg BT 128.25 406.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 143.74 406.95 Td (Credit ) Tj ET Q
q 0 0 0 rg BT 172.07 406.95 Td (Agreement. ) Tj ET Q
q 0 0 0 rg BT 224.01 406.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 226.49 406.95 Td (There ) Tj ET Q
q 0 0 0 rg BT 253.64 406.95 Td (were ) Tj ET Q
q 0 0 0 rg BT 276.71 406.95 Td (no ) Tj ET Q
q 0 0 0 rg BT 289.88 406.95 Td (borrowings ) Tj ET Q
q 0 0 0 rg BT 340.38 406.95 Td (outstanding ) Tj ET Q
q 0 0 0 rg BT 392.05 406.95 Td (under ) Tj ET Q
q 0 0 0 rg BT 418.63 406.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 434.13 406.95 Td (Credit ) Tj ET Q
q 0 0 0 rg BT 462.45 406.95 Td (Agreement ) Tj ET Q
q 0 0 0 rg BT 511.77 406.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 523.19 406.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 534.60 406.95 Td (March ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 394.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 65.75 394.35 Td (2017.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 369.15 Td (As ) Tj ET Q
q 0 0 0 rg BT 64.48 369.15 Td (further ) Tj ET Q
q 0 0 0 rg BT 95.87 369.15 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 138.93 369.15 Td (below) Tj ET Q
q 0 0 0 rg BT 163.91 369.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 169.35 369.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 179.71 369.15 Td (August ) Tj ET Q
q 0 0 0 rg BT 212.86 369.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 239.30 369.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 263.69 369.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 295.09 369.15 Td (issued ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 324.16 369.15 Td ($500,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 363.53 369.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 366.35 369.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 377.91 369.15 Td (5.45%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 405.03 369.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 407.84 369.15 Td (Junior ) Tj ET Q
q 0 0 0 rg BT 436.91 369.15 Td (Subordinated ) Tj ET Q
q 0 0 0 rg BT 495.72 369.15 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 523.03 369.15 Td (due ) Tj ET Q
q 0 0 0 rg BT 541.01 369.15 Td (2056 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 356.55 Td (\(the ) Tj ET Q
q 0 0 0 rg BT 68.31 356.55 Td ("5.45% ) Tj ET Q
q 0 0 0 rg BT 101.71 356.55 Td (2056 ) Tj ET Q
q 0 0 0 rg BT 124.70 356.55 Td (Notes"\), ) Tj ET Q
q 0 0 0 rg BT 161.59 356.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 176.40 356.55 Td (net ) Tj ET Q
q 0 0 0 rg BT 191.22 356.55 Td (proceeds ) Tj ET Q
q 0 0 0 rg BT 230.52 356.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 241.26 356.55 Td (which, ) Tj ET Q
q 0 0 0 rg BT 271.53 356.55 Td (together ) Tj ET Q
q 0 0 0 rg BT 307.92 356.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 328.58 356.55 Td (existing ) Tj ET Q
q 0 0 0 rg BT 363.82 356.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 384.46 356.55 Td (resources, ) Tj ET Q
q 0 0 0 rg BT 428.72 356.55 Td (were ) Tj ET Q
q 0 0 0 rg BT 451.11 356.55 Td (used ) Tj ET Q
q 0 0 0 rg BT 472.35 356.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 482.50 356.55 Td (repay ) Tj ET Q
q 0 0 0 rg BT 507.81 356.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 522.62 356.55 Td ($500,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 562.00 356.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 343.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.37 343.95 Td (then ) Tj ET Q
q 0 0 0 rg BT 82.07 343.95 Td (outstanding ) Tj ET Q
q 0 0 0 rg BT 133.70 343.95 Td (borrowings ) Tj ET Q
q 0 0 0 rg BT 184.15 343.95 Td (under ) Tj ET Q
q 0 0 0 rg BT 210.69 343.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 226.14 343.95 Td (Credit ) Tj ET Q
q 0 0 0 rg BT 254.43 343.95 Td (Agreement ) Tj ET Q
q 0 0 0 rg BT 303.70 343.95 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 346.58 343.95 Td (below) Tj ET Q
q 0 0 0 rg BT 371.55 343.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 376.80 343.95 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 318.75 Td (In ) Tj ET Q
q 0 0 0 rg BT 61.98 318.75 Td (May ) Tj ET Q
q 0 0 0 rg BT 84.46 318.75 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 111.32 318.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 136.13 318.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 167.95 318.75 Td (borrowed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 211.42 318.75 Td ($460,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 250.79 318.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 254.03 318.75 Td (under ) Tj ET Q
q 0 0 0 rg BT 281.17 318.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 297.23 318.75 Td (Credit ) Tj ET Q
q 0 0 0 rg BT 326.00 318.75 Td (Agreement ) Tj ET Q
q 0 0 0 rg BT 375.88 318.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 387.28 318.75 Td (finance ) Tj ET Q
q 0 0 0 rg BT 421.41 318.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 437.47 318.75 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 486.78 318.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 498.76 318.75 Td (EnT) Tj ET Q
q 0 0 0 rg BT 516.47 318.75 Td (rust ) Tj ET Q
q 0 0 0 rg BT 535.45 318.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 553.85 318.75 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 306.15 Td (replenish ) Tj ET Q
q 0 0 0 rg BT 90.41 306.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 110.98 306.15 Td (used ) Tj ET Q
q 0 0 0 rg BT 132.14 306.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 142.23 306.15 Td (complete ) Tj ET Q
q 0 0 0 rg BT 182.63 306.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 197.37 306.15 Td (acquisitions ) Tj ET Q
q 0 0 0 rg BT 249.45 306.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 260.11 306.15 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 293.52 306.15 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 329.85 306.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 339.51 306.15 Td (April ) Tj ET Q
q 0 0 0 rg BT 363.59 306.15 Td (2016 ) Tj ET Q
q 0 0 0 rg BT 386.51 306.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 403.58 306.15 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 433.50 306.15 Td (Infrastructure ) Tj ET Q
q 0 0 0 rg BT 492.56 306.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 502.64 306.15 Td (October ) Tj ET Q
q 0 0 0 rg BT 538.37 306.15 Td (2015, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 293.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 60.64 293.55 Td (further ) Tj ET Q
q 0 0 0 rg BT 91.10 293.55 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 133.24 293.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 143.30 293.55 Td (Note ) Tj ET Q
q 0 0 0 rg BT 165.61 293.55 Td (2. ) Tj ET Q
q 0 0 0 rg BT 175.38 293.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 177.27 293.55 Td (In ) Tj ET Q
q 0 0 0 rg BT 187.91 293.55 Td (December ) Tj ET Q
q 0 0 0 rg BT 232.94 293.55 Td (2015, ) Tj ET Q
q 0 0 0 rg BT 258.46 293.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 281.93 293.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 312.40 293.55 Td (borrowed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 354.53 293.55 Td ($40,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 388.66 293.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 390.55 293.55 Td (under ) Tj ET Q
q 0 0 0 rg BT 416.35 293.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 431.07 293.55 Td (Credit ) Tj ET Q
q 0 0 0 rg BT 458.79 293.55 Td (Agreement, ) Tj ET Q
q 0 0 0 rg BT 509.96 293.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 524.68 293.55 Td (proceeds ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 280.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.08 280.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 89.08 280.95 Td (were ) Tj ET Q
q 0 0 0 rg BT 111.82 280.95 Td (used ) Tj ET Q
q 0 0 0 rg BT 133.40 280.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 143.91 280.95 Td (repay ) Tj ET Q
q 0 0 0 rg BT 169.56 280.95 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 184.72 280.95 Td ($40,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 218.85 280.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 221.19 280.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 232.27 280.95 Td (outstanding ) Tj ET Q
q 0 0 0 rg BT 283.60 280.95 Td (borrowings ) Tj ET Q
q 0 0 0 rg BT 333.77 280.95 Td (under ) Tj ET Q
q 0 0 0 rg BT 360.01 280.95 Td (its ) Tj ET Q
q 0 0 0 rg BT 372.27 280.95 Td (previous ) Tj ET Q
q 0 0 0 rg BT 410.77 280.95 Td (revolving ) Tj ET Q
q 0 0 0 rg BT 453.35 280.95 Td (credit ) Tj ET Q
q 0 0 0 rg BT 479.59 280.95 Td (facility) Tj ET Q
q 0 0 0 rg BT 508.64 280.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 513.61 280.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 541.60 280.95 Td (were ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 268.35 Td (drawn ) Tj ET Q
q 0 0 0 rg BT 78.87 268.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 89.66 268.35 Td (October ) Tj ET Q
q 0 0 0 rg BT 126.10 268.35 Td (2015 ) Tj ET Q
q 0 0 0 rg BT 149.73 268.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 160.52 268.35 Td (partially ) Tj ET Q
q 0 0 0 rg BT 198.13 268.35 Td (finance ) Tj ET Q
q 0 0 0 rg BT 231.65 268.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 247.11 268.35 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 295.81 268.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 307.18 268.35 Td (RARE ) Tj ET Q
q 0 0 0 rg BT 337.81 268.35 Td (Infrastructure. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 243.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.90 243.15 Td (revolving ) Tj ET Q
q 0 0 0 rg BT 111.73 243.15 Td (credit ) Tj ET Q
q 0 0 0 rg BT 138.21 243.15 Td (facility ) Tj ET Q
q 0 0 0 rg BT 170.52 243.15 Td (has ) Tj ET Q
q 0 0 0 rg BT 187.10 243.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 199.59 243.15 Td (interest ) Tj ET Q
q 0 0 0 rg BT 233.08 243.15 Td (rate ) Tj ET Q
q 0 0 0 rg BT 251.39 243.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 262.72 243.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 278.12 243.15 Td (three-month ) Tj ET Q
q 0 0 0 rg BT 332.02 243.15 Td (Eurocurrency ) Tj ET Q
q 0 0 0 rg BT 391.73 243.15 Td (Rate ) Tj ET Q
q 0 0 0 rg BT 413.56 243.15 Td (plus ) Tj ET Q
q 0 0 0 rg BT 433.64 243.15 Td (125 ) Tj ET Q
q 0 0 0 rg BT 451.97 243.15 Td (basis ) Tj ET Q
q 0 0 0 rg BT 475.55 243.15 Td (points ) Tj ET Q
q 0 0 0 rg BT 503.80 243.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 521.54 243.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 534.03 243.15 Td (annual ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 230.55 Td (commitment ) Tj ET Q
q 0 0 0 rg BT 106.27 230.55 Td (fee ) Tj ET Q
q 0 0 0 rg BT 122.27 230.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 134.21 230.55 Td (17.5 ) Tj ET Q
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q 0 0 0 rg BT 179.97 230.55 Td (points. ) Tj ET Q
q 0 0 0 rg BT 211.46 230.55 Td ( ) Tj ET Q
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q 0 0 0 rg BT 249.32 230.55 Td (is ) Tj ET Q
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q 0 0 0 rg BT 295.36 230.55 Td (at ) Tj ET Q
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q 0 0 0 rg BT 328.56 230.55 Td (quarterly ) Tj ET Q
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q 0 0 0 rg BT 383.34 230.55 Td (any ) Tj ET Q
q 0 0 0 rg BT 401.69 230.55 Td (amounts ) Tj ET Q
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q 0 0 0 rg BT 492.65 230.55 Td (under ) Tj ET Q
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q 0 0 0 rg BT 535.77 230.55 Td (Credit ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 217.95 Td (Agreement ) Tj ET Q
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q 0 0 0 rg BT 185.42 217.95 Td (may ) Tj ET Q
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q 0 0 0 rg BT 238.89 217.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 249.88 217.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 265.54 217.95 Td (future ) Tj ET Q
q 0 0 0 rg BT 293.44 217.95 Td (based ) Tj ET Q
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q 0 0 0 rg BT 333.51 217.95 Td (changes ) Tj ET Q
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q 0 0 0 rg BT 405.55 217.95 Td (Mason's ) Tj ET Q
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q 0 0 0 rg BT 469.67 217.95 Td (ratings. ) Tj ET Q
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q 0 0 0 rg BT 506.33 217.95 Td (The ) Tj ET Q
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 192.00 205.35 Td (the ) Tj ET Q
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q 0 0 0 rg BT 285.02 205.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 303.98 205.35 Td (2.95% ) Tj ET Q
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q 0 0 0 rg BT 412.43 205.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 442.46 205.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 458.21 205.35 Td (2018.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 180.15 Td (The ) Tj ET Q
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q 0 0 0 rg BT 304.58 180.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 306.42 180.15 Td (These ) Tj ET Q
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q 0 0 0 rg BT 377.45 180.15 Td (include: ) Tj ET Q
q 0 0 0 rg BT 413.26 180.15 Td (maximum ) Tj ET Q
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q 0 0 0 rg BT 472.64 180.15 Td (debt ) Tj ET Q
q 0 0 0 rg BT 492.71 180.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 502.86 180.15 Td (EBITDA) Tj ET Q
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q 0 0 0 rg BT 542.76 180.15 Td (ratio ) Tj ET Q
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q 0 0 0 rg BT 302.76 615.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 314.33 615.75 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 339.31 615.75 Td (rate ) Tj ET Q
q 0 0 0 rg BT 358.45 615.75 Td (debt. ) Tj ET Q
q 0 0 0 rg BT 382.56 615.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 385.97 615.75 Td (Under ) Tj ET Q
q 0 0 0 rg BT 415.61 615.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 431.85 615.75 Td (terms ) Tj ET Q
q 0 0 0 rg BT 458.58 615.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 470.73 615.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 486.97 615.75 Td (interest ) Tj ET Q
q 0 0 0 rg BT 521.28 615.75 Td (rate ) Tj ET Q
q 0 0 0 rg BT 540.42 615.75 Td (swap ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 603.15 Td (agreement, ) Tj ET Q
q 0 0 0 rg BT 99.43 603.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 124.08 603.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 155.74 603.15 Td (paid ) Tj ET Q
q 0 0 0 rg BT 176.90 603.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 184.64 603.15 Td (fixed ) Tj ET Q
q 0 0 0 rg BT 209.29 603.15 Td (interest ) Tj ET Q
q 0 0 0 rg BT 243.28 603.15 Td (rate ) Tj ET Q
q 0 0 0 rg BT 262.09 603.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 273.92 603.15 Td (2.3%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 295.79 603.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 298.87 603.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 312.45 603.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 320.19 603.15 Td (notional ) Tj ET Q
q 0 0 0 rg BT 357.68 603.15 Td (amount ) Tj ET Q
q 0 0 0 rg BT 392.25 603.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 404.08 603.15 Td ($500,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 443.45 603.15 Td (. ) Tj ET Q
q 0 0 0 rg BT 449.15 603.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 452.01 603.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 471.41 603.15 Td (swap ) Tj ET Q
q 0 0 0 rg BT 496.07 603.15 Td (had ) Tj ET Q
q 0 0 0 rg BT 514.31 603.15 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 522.05 603.15 Td (4.67) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 540.43 603.15 Td (-year ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 590.55 Td (term, ) Tj ET Q
q 0 0 0 rg BT 73.81 590.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 94.42 590.55 Td (scheduled ) Tj ET Q
q 0 0 0 rg BT 138.35 590.55 Td (reductions ) Tj ET Q
q 0 0 0 rg BT 184.03 590.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 194.14 590.55 Td (notional ) Tj ET Q
q 0 0 0 rg BT 230.50 590.55 Td (amount ) Tj ET Q
q 0 0 0 rg BT 263.94 590.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 281.04 590.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 299.32 590.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 309.43 590.55 Td (expire ) Tj ET Q
q 0 0 0 rg BT 337.61 590.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 350.05 590.55 Td (December ) Tj ET Q
q 0 0 0 rg BT 395.13 590.55 Td (29, ) Tj ET Q
q 0 0 0 rg BT 410.20 590.55 Td (2020. ) Tj ET Q
q 0 0 0 rg BT 435.77 590.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 437.71 590.55 Td (In ) Tj ET Q
q 0 0 0 rg BT 447.97 590.55 Td (August ) Tj ET Q
q 0 0 0 rg BT 480.25 590.55 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 505.82 590.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 515.93 590.55 Td (connection ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 577.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 71.19 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 86.55 577.95 Td (repayment ) Tj ET Q
q 0 0 0 rg BT 133.39 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 144.66 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 160.02 577.95 Td (outstanding ) Tj ET Q
q 0 0 0 rg BT 211.54 577.95 Td (borrowings ) Tj ET Q
q 0 0 0 rg BT 261.90 577.95 Td (under ) Tj ET Q
q 0 0 0 rg BT 288.33 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 303.69 577.95 Td (revolving ) Tj ET Q
q 0 0 0 rg BT 346.46 577.95 Td (credit ) Tj ET Q
q 0 0 0 rg BT 372.88 577.95 Td (facility) Tj ET Q
q 0 0 0 rg BT 401.94 577.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 407.09 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 422.45 577.95 Td (interest ) Tj ET Q
q 0 0 0 rg BT 455.88 577.95 Td (rate ) Tj ET Q
q 0 0 0 rg BT 474.14 577.95 Td (swap ) Tj ET Q
q 0 0 0 rg BT 498.25 577.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 517.10 577.95 Td (terminated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 565.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 64.21 565.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 70.85 565.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 91.48 565.35 Td (payment ) Tj ET Q
q 0 0 0 rg BT 129.60 565.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 140.32 565.35 Td ($3,662) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 169.20 565.35 Td (. ) Tj ET Q
q 0 0 0 rg BT 173.79 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 175.33 565.35 Td (As ) Tj ET Q
q 0 0 0 rg BT 188.97 565.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 195.60 565.35 Td (result, ) Tj ET Q
q 0 0 0 rg BT 223.53 565.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 247.07 565.35 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 277.63 565.35 Td (reclassified ) Tj ET Q
q 0 0 0 rg BT 327.41 565.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 334.04 565.35 Td (loss ) Tj ET Q
q 0 0 0 rg BT 352.35 565.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 363.07 565.35 Td ($2,249) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 391.94 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 393.92 565.35 Td (\(net ) Tj ET Q
q 0 0 0 rg BT 412.21 565.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 422.93 565.35 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 459.87 565.35 Td (income ) Tj ET Q
q 0 0 0 rg BT 492.75 565.35 Td (taxes ) Tj ET Q
q 0 0 0 rg BT 516.30 565.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 527.01 565.35 Td ($1,413) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 555.89 565.35 Td (\), ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 552.75 Td (representing ) Tj ET Q
q 0 0 0 rg BT 104.03 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 119.00 552.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 135.71 552.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 160.59 552.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 171.47 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 186.44 552.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 207.23 552.75 Td (flow ) Tj ET Q
q 0 0 0 rg BT 228.62 552.75 Td (hedge, ) Tj ET Q
q 0 0 0 rg BT 258.45 552.75 Td (from ) Tj ET Q
q 0 0 0 rg BT 280.53 552.75 Td (Accumulated ) Tj ET Q
q 0 0 0 rg BT 338.65 552.75 Td (other ) Tj ET Q
q 0 0 0 rg BT 362.36 552.75 Td (comprehensive ) Tj ET Q
q 0 0 0 rg BT 428.06 552.75 Td (loss, ) Tj ET Q
q 0 0 0 rg BT 449.16 552.75 Td (net, ) Tj ET Q
q 0 0 0 rg BT 466.75 552.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 477.06 552.75 Td (Other ) Tj ET Q
q 0 0 0 rg BT 503.11 552.75 Td (non-operating ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 540.15 Td (income ) Tj ET Q
q 0 0 0 rg BT 83.53 540.15 Td (\(expense\), ) Tj ET Q
q 0 0 0 rg BT 129.59 540.15 Td (net. ) Tj ET Q
q 0 0 0 rg BT 147.67 540.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 514.95 Td (Prior ) Tj ET Q
q 0 0 0 rg BT 74.31 514.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 85.79 514.95 Td (its ) Tj ET Q
q 0 0 0 rg BT 99.03 514.95 Td (termination ) Tj ET Q
q 0 0 0 rg BT 150.75 514.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 161.50 514.95 Td (August ) Tj ET Q
q 0 0 0 rg BT 195.15 514.95 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 222.09 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 238.23 514.95 Td (swap ) Tj ET Q
q 0 0 0 rg BT 263.12 514.95 Td (settled ) Tj ET Q
q 0 0 0 rg BT 293.85 514.95 Td (monthly ) Tj ET Q
q 0 0 0 rg BT 332.16 514.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 350.64 514.95 Td (during ) Tj ET Q
q 0 0 0 rg BT 381.36 514.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 397.51 514.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 418.89 514.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 447.27 514.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 477.99 514.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 494.43 514.95 Td (2017, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 521.37 514.95 Td ($764) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.37 514.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 545.68 514.95 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 502.35 Td (reclassified ) Tj ET Q
q 0 0 0 rg BT 99.41 502.35 Td (from ) Tj ET Q
q 0 0 0 rg BT 121.07 502.35 Td (Accumulated ) Tj ET Q
q 0 0 0 rg BT 178.64 502.35 Td (other ) Tj ET Q
q 0 0 0 rg BT 201.81 502.35 Td (comprehensive ) Tj ET Q
q 0 0 0 rg BT 266.97 502.35 Td (loss, ) Tj ET Q
q 0 0 0 rg BT 287.54 502.35 Td (net, ) Tj ET Q
q 0 0 0 rg BT 304.59 502.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 314.35 502.35 Td (Interest ) Tj ET Q
q 0 0 0 rg BT 347.44 502.35 Td (expense. ) Tj ET Q
q 0 0 0 rg BT 385.48 502.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 387.08 502.35 Td (Until ) Tj ET Q
q 0 0 0 rg BT 410.26 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 424.69 502.35 Td (swap ) Tj ET Q
q 0 0 0 rg BT 447.87 502.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 465.79 502.35 Td (terminated, ) Tj ET Q
q 0 0 0 rg BT 514.92 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 529.34 502.35 Td (original ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 489.75 Td (terms ) Tj ET Q
q 0 0 0 rg BT 75.95 489.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 93.74 489.75 Td (conditions ) Tj ET Q
q 0 0 0 rg BT 140.11 489.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 151.49 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 166.94 489.75 Td (hedged ) Tj ET Q
q 0 0 0 rg BT 199.88 489.75 Td (instruments ) Tj ET Q
q 0 0 0 rg BT 251.51 489.75 Td (were ) Tj ET Q
q 0 0 0 rg BT 274.54 489.75 Td (unchanged ) Tj ET Q
q 0 0 0 rg BT 322.64 489.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 340.43 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 355.88 489.75 Td (swap ) Tj ET Q
q 0 0 0 rg BT 380.09 489.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 399.04 489.75 Td (an ) Tj ET Q
q 0 0 0 rg BT 411.58 489.75 Td (ef) Tj ET Q
q 0 0 0 rg BT 419.54 489.75 Td (fective ) Tj ET Q
q 0 0 0 rg BT 450.73 489.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 472.02 489.75 Td (flow ) Tj ET Q
q 0 0 0 rg BT 493.89 489.75 Td (hedge. ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 50.00 464.55 Td (Long-term ) Tj ET Q
q 0 0 0 rg BT 101.03 464.55 Td (debt) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 451.95 Td (Long-term ) Tj ET Q
q 0 0 0 rg BT 97.53 451.95 Td (debt, ) Tj ET Q
q 0 0 0 rg BT 120.86 451.95 Td (net, ) Tj ET Q
q 0 0 0 rg BT 138.93 451.95 Td (consists ) Tj ET Q
q 0 0 0 rg BT 174.81 451.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 186.19 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 201.64 451.95 Td (following:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 382.45 115.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
165.50 382.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
169.50 382.45 62.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
231.50 382.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
235.50 382.45 64.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
299.50 382.45 5.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
304.50 382.45 65.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
369.50 382.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
373.50 382.45 66.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.50 382.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
443.50 382.45 61.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
504.50 382.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
508.50 382.45 54.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 332.45 115.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
165.50 332.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
169.50 332.45 62.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
231.50 332.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
235.50 332.45 64.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
299.50 332.45 5.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
304.50 332.45 65.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
369.50 332.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
373.50 332.45 66.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.50 332.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
443.50 332.45 61.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
504.50 332.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
508.50 332.45 54.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 282.45 115.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
165.50 282.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
169.50 282.45 62.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
231.50 282.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
235.50 282.45 64.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
299.50 282.45 5.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
304.50 282.45 65.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
369.50 282.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
373.50 282.45 66.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.50 282.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
443.50 282.45 61.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
504.50 282.45 4.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
508.50 282.45 54.00 -25.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 232.45 115.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
165.50 232.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
169.50 232.45 62.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
231.50 232.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
235.50 232.45 64.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
299.50 232.45 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
304.50 232.45 65.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
369.50 232.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
373.50 232.45 66.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.50 232.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
443.50 232.45 61.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
504.50 232.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
508.50 232.45 54.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
169.5 415.45000000000005 m
231.5 415.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
231.5 415.45000000000005 m
235.5 415.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
235.5 415.45000000000005 m
299.5 415.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
299.5 415.45000000000005 m
304.5 415.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
304.5 415.45000000000005 m
369.5 415.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
369.5 415.45000000000005 m
373.5 415.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
373.5 415.45000000000005 m
439.5 415.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439.5 415.45000000000005 m
443.5 415.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
443.5 415.45000000000005 m
504.5 415.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
508.5 415.45000000000005 m
562.5 415.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 382.45000000000005 m
165.5 382.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
169.5 382.45000000000005 m
231.5 382.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
235.5 382.45000000000005 m
299.5 382.45000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
304.5 382.45000000000005 m
369.5 382.45000000000005 l
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0 0 0 RG
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q 0 0 0 rg BT 519.44 552.75 Td (remaining ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 540.15 Td (life ) Tj ET Q
q 0 0 0 rg BT 66.64 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 78.04 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 93.52 540.15 Td (debt. ) Tj ET Q
q 0 0 0 rg BT 116.88 540.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 119.53 540.15 Td (During ) Tj ET Q
q 0 0 0 rg BT 151.93 540.15 Td (each ) Tj ET Q
q 0 0 0 rg BT 173.81 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 185.21 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 200.69 540.15 Td (years ) Tj ET Q
q 0 0 0 rg BT 225.50 540.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 253.22 540.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 283.28 540.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 299.05 540.15 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 322.70 540.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 340.52 540.15 Td (2017, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 366.79 540.15 Td ($1,804) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 395.67 540.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 398.32 540.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 417.30 540.15 Td (amortized ) Tj ET Q
q 0 0 0 rg BT 461.94 540.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 479.75 540.15 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 519.13 540.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 530.52 540.15 Td (Interest ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 527.55 Td (expense ) Tj ET Q
q 0 0 0 rg BT 86.44 527.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 97.24 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 112.69 527.55 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 170.73 527.55 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 219.43 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 230.80 527.55 Td (Income ) Tj ET Q
q 0 0 0 rg BT 264.91 527.55 Td (\(Loss\). ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 502.35 Td (During ) Tj ET Q
q 0 0 0 rg BT 81.82 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 96.73 502.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 116.87 502.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 144.02 502.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 173.50 502.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 188.70 502.35 Td (2016, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 214.41 502.35 Td ($2,137) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 243.28 502.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 245.26 502.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 263.66 502.35 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 302.47 502.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 313.29 502.35 Td (Other ) Tj ET Q
q 0 0 0 rg BT 339.27 502.35 Td (income ) Tj ET Q
q 0 0 0 rg BT 372.26 502.35 Td (\(gain ) Tj ET Q
q 0 0 0 rg BT 395.91 502.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 408.49 502.35 Td (hedging ) Tj ET Q
q 0 0 0 rg BT 444.39 502.35 Td (activity\) ) Tj ET Q
q 0 0 0 rg BT 481.45 502.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 491.70 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 506.60 502.35 Td (Consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 489.75 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 98.33 489.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 109.34 489.75 Td (Income ) Tj ET Q
q 0 0 0 rg BT 143.08 489.75 Td (\(Loss\), ) Tj ET Q
q 0 0 0 rg BT 174.79 489.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 202.71 489.75 Td (reflects ) Tj ET Q
q 0 0 0 rg BT 235.86 489.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 242.77 489.75 Td (gain ) Tj ET Q
q 0 0 0 rg BT 263.11 489.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 275.86 489.75 Td (hedging ) Tj ET Q
q 0 0 0 rg BT 311.95 489.75 Td (activity ) Tj ET Q
q 0 0 0 rg BT 345.70 489.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 376.51 489.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 386.94 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 402.02 489.75 Td (fair ) Tj ET Q
q 0 0 0 rg BT 418.85 489.75 Td (value ) Tj ET Q
q 0 0 0 rg BT 443.84 489.75 Td (adjustment ) Tj ET Q
q 0 0 0 rg BT 492.18 489.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 504.93 489.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 520.02 489.75 Td (derivative ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 477.15 Td (asset. ) Tj ET Q
q 0 0 0 rg BT 75.47 477.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 77.36 477.15 Td (Also, ) Tj ET Q
q 0 0 0 rg BT 102.26 477.15 Td (during ) Tj ET Q
q 0 0 0 rg BT 132.10 477.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 147.36 477.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 167.86 477.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 195.36 477.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 225.20 477.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 240.76 477.15 Td (2016, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 266.81 477.15 Td ($2,137) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 295.69 477.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 298.00 477.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 316.77 477.15 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 355.92 477.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 367.10 477.15 Td (Other ) Tj ET Q
q 0 0 0 rg BT 393.44 477.15 Td (expense ) Tj ET Q
q 0 0 0 rg BT 429.69 477.15 Td (\(loss ) Tj ET Q
q 0 0 0 rg BT 451.96 477.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 464.89 477.15 Td (hedging ) Tj ET Q
q 0 0 0 rg BT 501.15 477.15 Td (activity\) ) Tj ET Q
q 0 0 0 rg BT 538.57 477.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 549.17 477.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 464.55 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 107.86 464.55 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 156.38 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 167.57 464.55 Td (Income ) Tj ET Q
q 0 0 0 rg BT 201.50 464.55 Td (\(Loss\), ) Tj ET Q
q 0 0 0 rg BT 233.40 464.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 261.51 464.55 Td (reflects ) Tj ET Q
q 0 0 0 rg BT 294.85 464.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 301.95 464.55 Td (loss ) Tj ET Q
q 0 0 0 rg BT 320.74 464.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 333.68 464.55 Td (hedging ) Tj ET Q
q 0 0 0 rg BT 369.95 464.55 Td (activity ) Tj ET Q
q 0 0 0 rg BT 403.89 464.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 434.90 464.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 445.51 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 460.78 464.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 477.80 464.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 502.98 464.55 Td (adjustment ) Tj ET Q
q 0 0 0 rg BT 551.50 464.55 Td (on ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.34 451.95 Td (debt. ) Tj ET Q
q 0 0 0 rg BT 88.55 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 90.88 451.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 109.71 451.95 Td (swap ) Tj ET Q
q 0 0 0 rg BT 133.80 451.95 Td (payment ) Tj ET Q
q 0 0 0 rg BT 172.46 451.95 Td (dates ) Tj ET Q
q 0 0 0 rg BT 196.54 451.95 Td (coincided ) Tj ET Q
q 0 0 0 rg BT 239.87 451.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 261.05 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 276.38 451.95 Td (debt ) Tj ET Q
q 0 0 0 rg BT 296.97 451.95 Td (payment ) Tj ET Q
q 0 0 0 rg BT 335.63 451.95 Td (dates ) Tj ET Q
q 0 0 0 rg BT 359.72 451.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 372.73 451.95 Td (July ) Tj ET Q
q 0 0 0 rg BT 392.74 451.95 Td (15 ) Tj ET Q
q 0 0 0 rg BT 405.75 451.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 423.41 451.95 Td (January ) Tj ET Q
q 0 0 0 rg BT 458.58 451.95 Td (15. ) Tj ET Q
q 0 0 0 rg BT 474.21 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 476.54 451.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 495.37 451.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 526.44 451.95 Td (receipts/) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 439.35 Td (payments ) Tj ET Q
q 0 0 0 rg BT 93.21 439.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 106.67 439.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 131.21 439.35 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 162.75 439.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 186.12 439.35 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 225.81 439.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 237.52 439.35 Td (Interest ) Tj ET Q
q 0 0 0 rg BT 271.97 439.35 Td (expense ) Tj ET Q
q 0 0 0 rg BT 308.75 439.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 319.88 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 335.67 439.35 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 394.05 439.35 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 443.09 439.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 454.80 439.35 Td (Income ) Tj ET Q
q 0 0 0 rg BT 489.25 439.35 Td (\(Loss\). ) Tj ET Q
q 0 0 0 rg BT 521.67 439.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 524.63 439.35 Td (Until ) Tj ET Q
q 0 0 0 rg BT 549.18 439.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 426.75 Td (swap ) Tj ET Q
q 0 0 0 rg BT 74.40 426.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 93.55 426.75 Td (terminated ) Tj ET Q
q 0 0 0 rg BT 141.26 426.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 153.96 426.75 Td (April ) Tj ET Q
q 0 0 0 rg BT 178.94 426.75 Td (21, ) Tj ET Q
q 0 0 0 rg BT 194.89 426.75 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 221.33 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 236.98 426.75 Td (original ) Tj ET Q
q 0 0 0 rg BT 272.45 426.75 Td (terms ) Tj ET Q
q 0 0 0 rg BT 298.60 426.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 316.58 426.75 Td (conditions ) Tj ET Q
q 0 0 0 rg BT 363.15 426.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 374.71 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 390.36 426.75 Td (hedged ) Tj ET Q
q 0 0 0 rg BT 423.50 426.75 Td (instruments ) Tj ET Q
q 0 0 0 rg BT 475.32 426.75 Td (were ) Tj ET Q
q 0 0 0 rg BT 498.54 426.75 Td (unchanged ) Tj ET Q
q 0 0 0 rg BT 546.84 426.75 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.45 414.15 Td (swap ) Tj ET Q
q 0 0 0 rg BT 89.66 414.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 108.61 414.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 121.15 414.15 Td (ef) Tj ET Q
q 0 0 0 rg BT 129.12 414.15 Td (fective ) Tj ET Q
q 0 0 0 rg BT 160.31 414.15 Td (fair ) Tj ET Q
q 0 0 0 rg BT 177.50 414.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 202.87 414.15 Td (hedge.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 50.00 388.95 Td (3.95% ) Tj ET Q
q 0 0 0 rg BT 81.50 388.95 Td (Senior) Tj ET Q
q 0 0 0 rg BT 110.48 388.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 113.10 388.95 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 140.81 388.95 Td (due ) Tj ET Q
q 0 0 0 rg BT 159.77 388.95 Td (July ) Tj ET Q
q 0 0 0 rg BT 181.65 388.95 Td (2024 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 376.35 Td (In ) Tj ET Q
q 0 0 0 rg BT 60.87 376.35 Td (June ) Tj ET Q
q 0 0 0 rg BT 82.24 376.35 Td (2014, ) Tj ET Q
q 0 0 0 rg BT 107.99 376.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 131.68 376.35 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 162.39 376.35 Td (issued ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 190.76 376.35 Td ($250,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 230.14 376.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 232.26 376.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 243.13 376.35 Td (3.95% ) Tj ET Q
q 0 0 0 rg BT 272.37 376.35 Td (Senior ) Tj ET Q
q 0 0 0 rg BT 301.91 376.35 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 328.53 376.35 Td (due ) Tj ET Q
q 0 0 0 rg BT 345.81 376.35 Td (July ) Tj ET Q
q 0 0 0 rg BT 365.44 376.35 Td (2024 ) Tj ET Q
q 0 0 0 rg BT 388.56 376.35 Td (\(the ) Tj ET Q
q 0 0 0 rg BT 407.01 376.35 Td ("2024 ) Tj ET Q
q 0 0 0 rg BT 434.42 376.35 Td (Notes"\). ) Tj ET Q
q 0 0 0 rg BT 471.45 376.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 473.42 376.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 491.86 376.35 Td (2024 ) Tj ET Q
q 0 0 0 rg BT 514.99 376.35 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 541.61 376.35 Td (were ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 363.75 Td (sold ) Tj ET Q
q 0 0 0 rg BT 70.77 363.75 Td (at ) Tj ET Q
q 0 0 0 rg BT 81.62 363.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 89.56 363.75 Td (discount ) Tj ET Q
q 0 0 0 rg BT 128.41 363.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 140.43 363.75 Td ($458) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 161.43 363.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 167.32 363.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 196.25 363.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 206.53 363.75 Td (being ) Tj ET Q
q 0 0 0 rg BT 233.13 363.75 Td (amortized ) Tj ET Q
q 0 0 0 rg BT 278.38 363.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 289.82 363.75 Td (interest ) Tj ET Q
q 0 0 0 rg BT 324.00 363.75 Td (expense ) Tj ET Q
q 0 0 0 rg BT 361.09 363.75 Td (over ) Tj ET Q
q 0 0 0 rg BT 383.01 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 399.11 363.75 Td (10-year ) Tj ET Q
q 0 0 0 rg BT 434.45 363.75 Td (term. ) Tj ET Q
q 0 0 0 rg BT 459.59 363.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 462.62 363.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 482.22 363.75 Td (2024 ) Tj ET Q
q 0 0 0 rg BT 506.49 363.75 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 534.26 363.75 Td (can ) Tj ET Q
q 0 0 0 rg BT 552.10 363.75 Td (be ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 351.15 Td (redeemed ) Tj ET Q
q 0 0 0 rg BT 93.54 351.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 103.86 351.15 Td (any ) Tj ET Q
q 0 0 0 rg BT 121.76 351.15 Td (time ) Tj ET Q
q 0 0 0 rg BT 143.16 351.15 Td (prior ) Tj ET Q
q 0 0 0 rg BT 166.31 351.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 177.21 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 192.78 351.15 Td (scheduled ) Tj ET Q
q 0 0 0 rg BT 237.50 351.15 Td (maturity ) Tj ET Q
q 0 0 0 rg BT 275.82 351.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 286.72 351.15 Td (part ) Tj ET Q
q 0 0 0 rg BT 305.79 351.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 317.27 351.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 328.18 351.15 Td (aggregate, ) Tj ET Q
q 0 0 0 rg BT 374.34 351.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 384.66 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 400.23 351.15 Td (greater ) Tj ET Q
q 0 0 0 rg BT 432.11 351.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 443.59 351.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 459.16 351.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 490.46 351.15 Td (principal ) Tj ET Q
q 0 0 0 rg BT 530.52 351.15 Td (amount ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 338.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 59.59 338.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 77.35 338.55 Td (time ) Tj ET Q
q 0 0 0 rg BT 98.02 338.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 108.78 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 123.62 338.55 Td (sum ) Tj ET Q
q 0 0 0 rg BT 143.14 338.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 153.90 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 168.74 338.55 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 213.32 338.55 Td (scheduled ) Tj ET Q
q 0 0 0 rg BT 257.32 338.55 Td (payments ) Tj ET Q
q 0 0 0 rg BT 299.57 338.55 Td (discounted ) Tj ET Q
q 0 0 0 rg BT 347.08 338.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 356.67 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 371.51 338.55 Td (treasury ) Tj ET Q
q 0 0 0 rg BT 407.34 338.55 Td (rate ) Tj ET Q
q 0 0 0 rg BT 425.09 338.55 Td (\(as ) Tj ET Q
q 0 0 0 rg BT 439.34 338.55 Td (defined\) ) Tj ET Q
q 0 0 0 rg BT 476.34 338.55 Td (plus ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.85 338.55 Td (0.25%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 522.97 338.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 527.61 338.55 Td (together ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 325.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 71.29 325.95 Td (any ) Tj ET Q
q 0 0 0 rg BT 89.08 325.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 120.27 325.95 Td (accrued ) Tj ET Q
q 0 0 0 rg BT 155.53 325.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 173.32 325.95 Td (unpaid ) Tj ET Q
q 0 0 0 rg BT 204.52 325.95 Td (interest. ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 50.00 300.75 Td (4.75% ) Tj ET Q
q 0 0 0 rg BT 81.50 300.75 Td (Senior) Tj ET Q
q 0 0 0 rg BT 110.48 300.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 113.10 300.75 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 140.81 300.75 Td (due ) Tj ET Q
q 0 0 0 rg BT 159.77 300.75 Td (Mar) Tj ET Q
q 0 0 0 rg BT 179.40 300.75 Td (ch ) Tj ET Q
q 0 0 0 rg BT 192.53 300.75 Td (2026 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 288.15 Td (In ) Tj ET Q
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q 0 0 0 rg BT 91.61 288.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 117.96 288.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 142.26 288.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 173.57 288.15 Td (issued ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 202.55 288.15 Td ($450,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 241.93 288.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 244.65 288.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 256.13 288.15 Td (2026 ) Tj ET Q
q 0 0 0 rg BT 279.85 288.15 Td (Notes. ) Tj ET Q
q 0 0 0 rg BT 309.70 288.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 312.24 288.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 331.29 288.15 Td (2026 ) Tj ET Q
q 0 0 0 rg BT 355.02 288.15 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 382.24 288.15 Td (were ) Tj ET Q
q 0 0 0 rg BT 405.37 288.15 Td (sold ) Tj ET Q
q 0 0 0 rg BT 425.60 288.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 435.91 288.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 443.29 288.15 Td (discount ) Tj ET Q
q 0 0 0 rg BT 481.60 288.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 493.08 288.15 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 498.33 288.15 Td (207) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 514.08 288.15 Td (. ) Tj ET Q
q 0 0 0 rg BT 519.43 288.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 521.96 288.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 541.01 288.15 Td (2026 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 275.55 Td (Notes ) Tj ET Q
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q 0 0 0 rg BT 356.97 741.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 367.38 741.75 Td (part, ) Tj ET Q
q 0 0 0 rg BT 388.57 741.75 Td (at ) Tj ET Q
q 0 0 0 rg BT 398.38 741.75 Td (100% ) Tj ET Q
q 0 0 0 rg BT 425.12 741.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 436.11 741.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 451.17 741.75 Td (principal ) Tj ET Q
q 0 0 0 rg BT 490.73 741.75 Td (amount, ) Tj ET Q
q 0 0 0 rg BT 527.09 741.75 Td (plus ) Tj ET Q
q 0 0 0 rg BT 546.84 741.75 Td (any ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 729.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 81.19 729.15 Td (accrued ) Tj ET Q
q 0 0 0 rg BT 116.45 729.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 134.24 729.15 Td (unpaid ) Tj ET Q
q 0 0 0 rg BT 165.44 729.15 Td (interest.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 50.00 703.95 Td (5.45% ) Tj ET Q
q 0 0 0 rg BT 81.50 703.95 Td (Junior) Tj ET Q
q 0 0 0 rg BT 111.07 703.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 113.69 703.95 Td (Subordinated ) Tj ET Q
q 0 0 0 rg BT 177.59 703.95 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 205.29 703.95 Td (due ) Tj ET Q
q 0 0 0 rg BT 224.26 703.95 Td (September) Tj ET Q
q 0 0 0 rg BT 272.47 703.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 275.10 703.95 Td (2056 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 691.35 Td (In ) Tj ET Q
q 0 0 0 rg BT 61.11 691.35 Td (August ) Tj ET Q
q 0 0 0 rg BT 94.49 691.35 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 121.15 691.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 145.76 691.35 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 177.38 691.35 Td (issued ) Tj ET Q
q 0 0 0 rg BT 206.67 691.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 219.61 691.35 Td (aggregate ) Tj ET Q
q 0 0 0 rg BT 263.46 691.35 Td (principal ) Tj ET Q
q 0 0 0 rg BT 303.81 691.35 Td (amount ) Tj ET Q
q 0 0 0 rg BT 338.35 691.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 350.13 691.35 Td ($500,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 389.51 691.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 392.54 691.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 404.33 691.35 Td (5.45% ) Tj ET Q
q 0 0 0 rg BT 434.48 691.35 Td (2056 ) Tj ET Q
q 0 0 0 rg BT 458.52 691.35 Td (Notes. ) Tj ET Q
q 0 0 0 rg BT 488.68 691.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 491.50 691.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 510.86 691.35 Td (5.45% ) Tj ET Q
q 0 0 0 rg BT 541.02 691.35 Td (2056 ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 678.75 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 76.98 678.75 Td (rank ) Tj ET Q
q 0 0 0 rg BT 98.12 678.75 Td (junior ) Tj ET Q
q 0 0 0 rg BT 125.69 678.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 143.33 678.75 Td (subordinate ) Tj ET Q
q 0 0 0 rg BT 194.81 678.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 205.46 678.75 Td (right ) Tj ET Q
q 0 0 0 rg BT 227.77 678.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 239.00 678.75 Td (payment ) Tj ET Q
q 0 0 0 rg BT 277.64 678.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 288.29 678.75 Td (all ) Tj ET Q
q 0 0 0 rg BT 301.27 678.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 312.50 678.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 336.56 678.75 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 373.61 678.75 Td (current ) Tj ET Q
q 0 0 0 rg BT 405.82 678.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 423.47 678.75 Td (future ) Tj ET Q
q 0 0 0 rg BT 451.02 678.75 Td (senior ) Tj ET Q
q 0 0 0 rg BT 479.17 678.75 Td (indebtedness. ) Tj ET Q
q 0 0 0 rg BT 538.52 678.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 541.00 678.75 Td (Prior ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 666.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.02 666.15 Td (September ) Tj ET Q
q 0 0 0 rg BT 106.78 666.15 Td (15, ) Tj ET Q
q 0 0 0 rg BT 121.76 666.15 Td (2021, ) Tj ET Q
q 0 0 0 rg BT 147.24 666.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 161.92 666.15 Td (5.45% ) Tj ET Q
q 0 0 0 rg BT 190.90 666.15 Td (2056 ) Tj ET Q
q 0 0 0 rg BT 213.75 666.15 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 240.10 666.15 Td (can ) Tj ET Q
q 0 0 0 rg BT 256.53 666.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 268.29 666.15 Td (redeemed ) Tj ET Q
q 0 0 0 rg BT 310.96 666.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 320.98 666.15 Td (aggregate, ) Tj ET Q
q 0 0 0 rg BT 366.26 666.15 Td (but ) Tj ET Q
q 0 0 0 rg BT 381.54 666.15 Td (not ) Tj ET Q
q 0 0 0 rg BT 396.81 666.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 406.83 666.15 Td (part, ) Tj ET Q
q 0 0 0 rg BT 427.63 666.15 Td (at ) Tj ET Q
q 0 0 0 rg BT 437.07 666.15 Td (100% ) Tj ET Q
q 0 0 0 rg BT 463.42 666.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 474.02 666.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 488.70 666.15 Td (principal ) Tj ET Q
q 0 0 0 rg BT 527.88 666.15 Td (amount, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 653.55 Td (plus ) Tj ET Q
q 0 0 0 rg BT 70.67 653.55 Td (any ) Tj ET Q
q 0 0 0 rg BT 89.00 653.55 Td (accrued ) Tj ET Q
q 0 0 0 rg BT 124.80 653.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 143.13 653.55 Td (unpaid ) Tj ET Q
q 0 0 0 rg BT 174.88 653.55 Td (interest, ) Tj ET Q
q 0 0 0 rg BT 211.58 653.55 Td (if ) Tj ET Q
q 0 0 0 rg BT 221.16 653.55 Td (called ) Tj ET Q
q 0 0 0 rg BT 249.39 653.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 264.80 653.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 272.63 653.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 288.62 653.55 Td (event ) Tj ET Q
q 0 0 0 rg BT 314.53 653.55 Td (\(as ) Tj ET Q
q 0 0 0 rg BT 329.94 653.55 Td (defined ) Tj ET Q
q 0 0 0 rg BT 364.59 653.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 375.93 653.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 391.92 653.55 Td (prospectus ) Tj ET Q
q 0 0 0 rg BT 440.00 653.55 Td (supplement\), ) Tj ET Q
q 0 0 0 rg BT 497.70 653.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 509.61 653.55 Td (102% ) Tj ET Q
q 0 0 0 rg BT 537.27 653.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 549.19 653.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 640.95 Td (principal ) Tj ET Q
q 0 0 0 rg BT 90.64 640.95 Td (amount, ) Tj ET Q
q 0 0 0 rg BT 128.07 640.95 Td (plus ) Tj ET Q
q 0 0 0 rg BT 148.89 640.95 Td (any ) Tj ET Q
q 0 0 0 rg BT 167.37 640.95 Td (accrued ) Tj ET Q
q 0 0 0 rg BT 203.32 640.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 221.80 640.95 Td (unpaid ) Tj ET Q
q 0 0 0 rg BT 253.69 640.95 Td (interest, ) Tj ET Q
q 0 0 0 rg BT 290.54 640.95 Td (if ) Tj ET Q
q 0 0 0 rg BT 300.27 640.95 Td (called ) Tj ET Q
q 0 0 0 rg BT 328.66 640.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 344.21 640.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 352.19 640.95 Td (rating ) Tj ET Q
q 0 0 0 rg BT 380.00 640.95 Td (agency ) Tj ET Q
q 0 0 0 rg BT 413.05 640.95 Td (event ) Tj ET Q
q 0 0 0 rg BT 439.10 640.95 Td (\(as ) Tj ET Q
q 0 0 0 rg BT 454.66 640.95 Td (defined ) Tj ET Q
q 0 0 0 rg BT 489.46 640.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 500.95 640.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 517.09 640.95 Td (prospectus ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 628.35 Td (supplement\). ) Tj ET Q
q 0 0 0 rg BT 107.20 628.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 109.86 628.35 Td (On ) Tj ET Q
q 0 0 0 rg BT 125.36 628.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 136.77 628.35 Td (after ) Tj ET Q
q 0 0 0 rg BT 158.67 628.35 Td (September ) Tj ET Q
q 0 0 0 rg BT 206.23 628.35 Td (15, ) Tj ET Q
q 0 0 0 rg BT 222.02 628.35 Td (2021, ) Tj ET Q
q 0 0 0 rg BT 248.31 628.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 263.81 628.35 Td (5.45% ) Tj ET Q
q 0 0 0 rg BT 293.59 628.35 Td (2056 ) Tj ET Q
q 0 0 0 rg BT 317.26 628.35 Td (Notes ) Tj ET Q
q 0 0 0 rg BT 344.42 628.35 Td (can ) Tj ET Q
q 0 0 0 rg BT 361.65 628.35 Td (be ) Tj ET Q
q 0 0 0 rg BT 374.23 628.35 Td (redeemed ) Tj ET Q
q 0 0 0 rg BT 417.70 628.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 428.53 628.35 Td (aggregate ) Tj ET Q
q 0 0 0 rg BT 472.00 628.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 483.42 628.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 494.25 628.35 Td (part, ) Tj ET Q
q 0 0 0 rg BT 515.86 628.35 Td (at ) Tj ET Q
q 0 0 0 rg BT 526.10 628.35 Td (100% ) Tj ET Q
q 0 0 0 rg BT 553.27 628.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 615.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.45 615.75 Td (principal ) Tj ET Q
q 0 0 0 rg BT 105.40 615.75 Td (amount, ) Tj ET Q
q 0 0 0 rg BT 142.14 615.75 Td (plus ) Tj ET Q
q 0 0 0 rg BT 162.27 615.75 Td (any ) Tj ET Q
q 0 0 0 rg BT 180.06 615.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 211.25 615.75 Td (accrued ) Tj ET Q
q 0 0 0 rg BT 246.51 615.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 264.30 615.75 Td (unpaid ) Tj ET Q
q 0 0 0 rg BT 295.50 615.75 Td (interest. ) Tj ET Q
q 0 0 0 rg BT 331.66 615.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 334.28 615.75 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 590.55 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.69 590.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 74.45 590.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 103.87 590.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 119.01 590.55 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 140.01 590.55 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 144.65 590.55 Td ($250,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 184.03 590.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 186.04 590.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 196.80 590.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 220.40 590.55 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 256.97 590.55 Td (long-term ) Tj ET Q
q 0 0 0 rg BT 300.40 590.55 Td (debt ) Tj ET Q
q 0 0 0 rg BT 320.49 590.55 Td (matures ) Tj ET Q
q 0 0 0 rg BT 355.75 590.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 365.93 590.55 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 390.68 590.55 Td (2020, ) Tj ET Q
q 0 0 0 rg BT 416.33 590.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 433.50 590.55 Td ($2,000,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 480.75 590.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 482.77 590.55 Td (matures ) Tj ET Q
q 0 0 0 rg BT 518.02 590.55 Td (after ) Tj ET Q
q 0 0 0 rg BT 539.27 590.55 Td (fiscal ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 577.95 Td (2023.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (7) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 54.75 552.75 Td (. ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 60.00 552.75 Td (INCOME ) Tj ET Q
q 0 0 0 rg BT 106.77 552.75 Td (T) Tj ET Q
q 0 0 0 rg BT 112.99 552.75 Td (AXES) Tj ET Q
BT /F2 10.50 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.45 527.55 Td (components ) Tj ET Q
q 0 0 0 rg BT 121.82 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 133.19 527.55 Td (income ) Tj ET Q
q 0 0 0 rg BT 166.72 527.55 Td (\(loss\) ) Tj ET Q
q 0 0 0 rg BT 192.68 527.55 Td (before ) Tj ET Q
q 0 0 0 rg BT 222.12 527.55 Td (income ) Tj ET Q
q 0 0 0 rg BT 255.65 527.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 271.10 527.55 Td (provision ) Tj ET Q
q 0 0 0 rg BT 313.40 527.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 328.84 527.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 340.21 527.55 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 502.05 320.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.00 502.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 502.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.00 502.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 502.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 502.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 502.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 472.05 320.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.00 472.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 472.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.00 472.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 472.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 472.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 472.05 60.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 502.05 m
370 502.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 502.05 m
434 502.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 502.05 m
498 502.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 502.05 m
562 502.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 502.05 m
370 502.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 502.05 m
434 502.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 502.05 m
498 502.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 502.05 m
562 502.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 472.05 m
434 472.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 472.05 m
498 472.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 472.05 m
562 472.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 472.05 m
370 472.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 457.05 m
370 457.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 472.05 m
434 472.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 457.05 m
434 457.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 472.05 m
498 472.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 457.05 m
498 457.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 472.05 m
562 472.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 457.05 m
562 457.05 l
s
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 393.00 506.84 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 457.00 506.82 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 521.00 506.82 Td (2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 491.82 Td (Domestic) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 376.50 491.84 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 395.85 491.84 Td (287,229) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.50 491.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 459.85 491.82 Td (308,751) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 504.50 491.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.85 491.82 Td (245,046) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 476.82 Td (Foreign) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 397.60 476.84 Td (\(53,389) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 430.00 476.84 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 465.10 476.82 Td (62,127) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 520.35 476.82 Td (\(270,264) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 476.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 461.82 Td (T) Tj ET Q
q 0 0 0 rg BT 58.18 461.82 Td (otal) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 376.50 461.84 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 395.85 461.84 Td (233,840) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.50 461.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 459.85 461.82 Td (370,878) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 504.50 461.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 525.60 461.82 Td (\(25,218) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 461.82 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 432.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.45 432.35 Td (components ) Tj ET Q
q 0 0 0 rg BT 121.82 432.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 133.19 432.35 Td (income ) Tj ET Q
q 0 0 0 rg BT 166.72 432.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 182.17 432.35 Td (expense ) Tj ET Q
q 0 0 0 rg BT 218.62 432.35 Td (\(benefit\) ) Tj ET Q
q 0 0 0 rg BT 257.39 432.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 272.83 432.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 284.20 432.35 Td (follows:) Tj ET Q
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0 J
0 j
3 M
502 716.25 m
562 716.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 554.25 m
370 554.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 554.25 m
434 554.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 554.25 m
498 554.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 554.25 m
562 554.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 539.25 m
370 539.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 554.25 m
434 554.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 539.25 m
434 539.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 539.25 m
498 539.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 539.25 m
562 539.25 l
s
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 393.00 721.04 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 457.00 721.02 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 521.00 721.02 Td (2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 706.47 Td (T) Tj ET Q
q 0 0 0 rg BT 58.55 706.47 Td (ax provision at statutory U.S. federal income tax rate) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 401.10 706.64 Td (31.5) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 423.00 706.64 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.35 706.47 Td (35.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 488.75 706.47 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.85 706.47 Td (35.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 552.75 706.47 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 692.02 Td (State income taxes, net of federal income tax benefit) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 273.21 696.78 Td (\(1\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 406.35 692.04 Td (7.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 475.60 692.02 Td (2.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.85 692.02 Td (43.2) Tj ET Q
BT /F1 10.50 Tf ET
0.8 0.9333333333333333 1 rg
/GS0 gs
52.50 684.30 180.14 -9.55 re f
/GS0 gs
q 0 0 0 rg BT 52.50 677.02 Td (Impact of changes in U.S. federal ) Tj ET Q
q 0 0 0 rg BT 195.76 677.02 Td (T) Tj ET Q
q 0 0 0 rg BT 201.44 677.02 Td (ax Law) Tj ET Q
BT /F1 10.50 Tf ET
0.8 0.9333333333333333 1 rg
/GS0 gs
232.64 689.06 7.96 -9.55 re f
/GS0 gs
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 232.64 681.78 Td (\(2\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 397.60 677.04 Td (\(90.1) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 419.50 677.04 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 478.25 677.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 538.75 677.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 662.02 Td (Uncertain tax benefits) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 406.35 662.04 Td (1.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 475.60 662.02 Td (1.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.85 662.02 Td (41.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 647.02 Td (Ef) Tj ET Q
q 0 0 0 rg BT 62.22 647.02 Td (fect of foreign tax rates) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 160.17 651.78 Td (\(3\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 406.35 647.04 Td (1.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 472.10 647.02 Td (\(3.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 488.75 647.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 522.10 647.02 Td (\(172.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 549.25 647.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 632.47 Td (Changes in U.K. tax rates on deferred tax assets and liabilities) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 406.35 632.64 Td (0.3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 472.10 632.47 Td (\(1.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 488.75 632.47 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.85 632.47 Td (33.2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 618.47 Td (Net \(income\) loss attributable to noncontrolling interests) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 402.85 618.64 Td (\(6.8) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 419.50 618.64 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 472.10 618.47 Td (\(5.4) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 488.75 618.47 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 527.35 618.47 Td (\(15.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 549.25 618.47 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 604.02 Td (Change in valuation allowances) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 186.34 608.78 Td (\(4\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 402.85 604.04 Td (\(1.3) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 419.50 604.04 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 475.60 604.02 Td (1.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 527.35 604.02 Td (\(33.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 549.25 604.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 589.02 Td (Federal ef) Tj ET Q
q 0 0 0 rg BT 94.58 589.02 Td (fect of permanent tax adjustments) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 236.87 593.78 Td (\(5\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 401.10 589.04 Td (10.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 472.10 589.02 Td (\(0.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 488.75 589.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.85 589.02 Td (39.1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 574.02 Td (Holding company restructuring) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 184.31 578.78 Td (\(6\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 409.00 574.04 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 472.10 574.02 Td (\(5.0) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 488.75 574.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 538.75 574.02 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 559.02 Td (Other) Tj ET Q
q 0 0 0 rg BT 76.20 559.02 Td (, net) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 406.35 559.04 Td (0.9) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 472.10 559.02 Td (\(1.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 488.75 559.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 532.60 559.02 Td (\(0.8) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 549.25 559.02 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 544.02 Td (Ef) Tj ET Q
q 0 0 0 rg BT 62.22 544.02 Td (fective income tax rate) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 397.60 544.04 Td (\(43.8) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 419.50 544.04 Td (\)%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.35 544.02 Td (22.7) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 488.75 544.02 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 527.35 544.02 Td (\(30.5) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 549.25 544.02 Td (\)%) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 529.55 Td (\(1\) ) Tj ET Q
q 0 0 0 rg BT 67.50 529.55 Td (State ) Tj ET Q
q 0 0 0 rg BT 86.17 529.55 Td (income ) Tj ET Q
q 0 0 0 rg BT 112.86 529.55 Td (taxes ) Tj ET Q
q 0 0 0 rg BT 132.00 529.55 Td (include ) Tj ET Q
q 0 0 0 rg BT 158.69 529.55 Td (changes ) Tj ET Q
q 0 0 0 rg BT 187.74 529.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 196.03 529.55 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 229.33 529.55 Td (allowances ) Tj ET Q
q 0 0 0 rg BT 268.77 529.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 293.56 529.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 301.85 529.55 Td (change ) Tj ET Q
q 0 0 0 rg BT 327.59 529.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 335.87 529.55 Td (apportionment ) Tj ET Q
q 0 0 0 rg BT 387.12 529.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 401.07 529.55 Td (provision ) Tj ET Q
q 0 0 0 rg BT 434.85 529.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 443.14 529.55 Td (return ) Tj ET Q
q 0 0 0 rg BT 465.10 529.55 Td (dif) Tj ET Q
q 0 0 0 rg BT 474.39 529.55 Td (ferences, ) Tj ET Q
q 0 0 0 rg BT 506.50 529.55 Td (net ) Tj ET Q
q 0 0 0 rg BT 518.56 529.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 527.31 529.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 539.37 529.55 Td (impact ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 519.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 78.13 519.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 103.37 519.35 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 133.81 519.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 146.32 519.35 Td (assets.) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 509.15 Td (\(2\) ) Tj ET Q
q 0 0 0 rg BT 67.50 509.15 Td (Includes ) Tj ET Q
q 0 0 0 rg BT 98.42 509.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 110.93 509.15 Td (impact ) Tj ET Q
q 0 0 0 rg BT 136.19 509.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 146.81 509.15 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 177.25 509.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 189.76 509.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 211.71 509.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 226.11 509.15 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 259.87 509.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 274.27 509.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 286.78 509.15 Td (ef) Tj ET Q
q 0 0 0 rg BT 293.23 509.15 Td (fects ) Tj ET Q
q 0 0 0 rg BT 311.40 509.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 322.03 509.15 Td (unremitted ) Tj ET Q
q 0 0 0 rg BT 360.98 509.15 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 387.65 509.15 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 418.57 509.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 432.97 509.15 Td (other ) Tj ET Q
q 0 0 0 rg BT 452.56 509.15 Td (aspects ) Tj ET Q
q 0 0 0 rg BT 479.23 509.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 488.44 509.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 500.79 509.15 Td (T) Tj ET Q
q 0 0 0 rg BT 505.39 509.15 Td (ax ) Tj ET Q
q 0 0 0 rg BT 515.54 509.15 Td (Law) Tj ET Q
q 0 0 0 rg BT 530.09 509.15 Td (. ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 498.95 Td (\(3\) ) Tj ET Q
q 0 0 0 rg BT 67.50 498.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 83.54 498.95 Td (ef) Tj ET Q
q 0 0 0 rg BT 89.99 498.95 Td (fect ) Tj ET Q
q 0 0 0 rg BT 105.55 498.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 115.45 498.95 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 142.82 498.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 156.03 498.95 Td (rates ) Tj ET Q
q 0 0 0 rg BT 174.90 498.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 187.64 498.95 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 208.87 498.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 230.81 498.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 252.76 498.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 267.86 498.95 Td (2016 ) Tj ET Q
q 0 0 0 rg BT 287.68 498.95 Td (includes ) Tj ET Q
q 0 0 0 rg BT 318.83 498.95 Td (a ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 325.43 498.95 Td ($33,150) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 353.05 498.95 Td (, ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 358.00 498.95 Td ($2,890) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 381.38 498.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 386.33 498.95 Td (and ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 401.42 498.95 Td ($66,780) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 429.05 498.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 431.87 498.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 445.08 498.95 Td (benefit, ) Tj ET Q
q 0 0 0 rg BT 473.63 498.95 Td (respectively) Tj ET Q
q 0 0 0 rg BT 514.14 498.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 519.09 498.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 531.82 498.95 Td (non-cash ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 488.75 Td (impairment ) Tj ET Q
q 0 0 0 rg BT 108.81 488.75 Td (char) Tj ET Q
q 0 0 0 rg BT 123.28 488.75 Td (ges ) Tj ET Q
q 0 0 0 rg BT 136.74 488.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 161.99 488.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 170.72 488.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 183.23 488.75 Td (intangible ) Tj ET Q
q 0 0 0 rg BT 219.35 488.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 241.31 488.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 250.52 488.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 263.02 488.75 Td (EnT) Tj ET Q
q 0 0 0 rg BT 277.36 488.75 Td (rustPermal ) Tj ET Q
q 0 0 0 rg BT 316.31 488.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 330.71 488.75 Td (legacy ) Tj ET Q
q 0 0 0 rg BT 355.02 488.75 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 381.22 488.75 Td (businesses, ) Tj ET Q
q 0 0 0 rg BT 421.36 488.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 430.57 488.75 Td (further ) Tj ET Q
q 0 0 0 rg BT 455.82 488.75 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 490.52 488.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 499.26 488.75 Td (Note ) Tj ET Q
q 0 0 0 rg BT 517.91 488.75 Td (5.) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 478.55 Td (\(4\) ) Tj ET Q
q 0 0 0 rg BT 67.50 478.55 Td (See ) Tj ET Q
q 0 0 0 rg BT 81.90 478.55 Td (schedule ) Tj ET Q
q 0 0 0 rg BT 113.76 478.55 Td (below ) Tj ET Q
q 0 0 0 rg BT 136.66 478.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 148.70 478.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 161.21 478.55 Td (change ) Tj ET Q
q 0 0 0 rg BT 187.40 478.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 196.14 478.55 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 229.89 478.55 Td (allowances ) Tj ET Q
q 0 0 0 rg BT 269.78 478.55 Td (by ) Tj ET Q
q 0 0 0 rg BT 280.41 478.55 Td (jurisdiction.) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 468.35 Td (\(5\) ) Tj ET Q
q 0 0 0 rg BT 67.50 468.35 Td (Fiscal ) Tj ET Q
q 0 0 0 rg BT 89.42 468.35 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 108.04 468.35 Td (includes ) Tj ET Q
q 0 0 0 rg BT 137.98 468.35 Td (a ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 143.37 468.35 Td (9.0%) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 161.08 468.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 162.69 468.35 Td (federal ) Tj ET Q
q 0 0 0 rg BT 187.90 468.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 212.65 468.35 Td (\() Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 215.48 468.35 Td (9.7%) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 233.19 468.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 234.80 468.35 Td (including ) Tj ET Q
q 0 0 0 rg BT 268.53 468.35 Td (state ) Tj ET Q
q 0 0 0 rg BT 285.72 468.35 Td (impact\) ) Tj ET Q
q 0 0 0 rg BT 313.30 468.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 322.00 468.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 327.39 468.35 Td (non-deductible ) Tj ET Q
q 0 0 0 rg BT 379.99 468.35 Td (char) Tj ET Q
q 0 0 0 rg BT 394.46 468.35 Td (ge ) Tj ET Q
q 0 0 0 rg BT 404.10 468.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 415.63 468.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 421.02 468.35 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 457.57 468.35 Td (matter ) Tj ET Q
q 0 0 0 rg BT 480.90 468.35 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 515.10 468.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 523.32 468.35 Td (Subsequent ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 458.15 Td (Event, ) Tj ET Q
q 0 0 0 rg BT 91.58 458.15 Td (Note ) Tj ET Q
q 0 0 0 rg BT 110.23 458.15 Td (18.) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 447.95 Td (\(6\) ) Tj ET Q
q 0 0 0 rg BT 67.50 447.95 Td (In ) Tj ET Q
q 0 0 0 rg BT 76.18 447.95 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 96.18 447.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 116.90 447.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 125.58 447.95 Td (part ) Tj ET Q
q 0 0 0 rg BT 140.39 447.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 149.06 447.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 154.43 447.95 Td (lar) Tj ET Q
q 0 0 0 rg BT 163.25 447.95 Td (ger ) Tj ET Q
q 0 0 0 rg BT 175.69 447.95 Td (strategic ) Tj ET Q
q 0 0 0 rg BT 206.08 447.95 Td (initiative, ) Tj ET Q
q 0 0 0 rg BT 240.02 447.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 259.08 447.95 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 283.82 447.95 Td (restructured ) Tj ET Q
q 0 0 0 rg BT 326.00 447.95 Td (certain ) Tj ET Q
q 0 0 0 rg BT 350.72 447.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 359.40 447.95 Td (its ) Tj ET Q
q 0 0 0 rg BT 369.03 447.95 Td (holding ) Tj ET Q
q 0 0 0 rg BT 396.60 447.95 Td (company ) Tj ET Q
q 0 0 0 rg BT 429.35 447.95 Td (businesses, ) Tj ET Q
q 0 0 0 rg BT 468.96 447.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 491.33 447.95 Td (increased ) Tj ET Q
q 0 0 0 rg BT 525.02 447.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 537.00 447.95 Td (amount ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 67.50 437.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 76.71 437.75 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 103.38 437.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 115.89 437.75 Td (credits ) Tj ET Q
q 0 0 0 rg BT 140.67 437.75 Td (available ) Tj ET Q
q 0 0 0 rg BT 173.47 437.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 185.51 437.75 Td (utilization.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 412.55 Td (On ) Tj ET Q
q 0 0 0 rg BT 64.73 412.55 Td (December ) Tj ET Q
q 0 0 0 rg BT 110.26 412.55 Td (22, ) Tj ET Q
q 0 0 0 rg BT 125.78 412.55 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 151.80 412.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 166.86 412.55 Td (T) Tj ET Q
q 0 0 0 rg BT 172.54 412.55 Td (ax ) Tj ET Q
q 0 0 0 rg BT 184.84 412.55 Td (Law ) Tj ET Q
q 0 0 0 rg BT 205.90 412.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 224.62 412.55 Td (enacted. ) Tj ET Q
q 0 0 0 rg BT 261.70 412.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 263.92 412.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 282.47 412.55 Td (T) Tj ET Q
q 0 0 0 rg BT 288.15 412.55 Td (ax ) Tj ET Q
q 0 0 0 rg BT 300.46 412.55 Td (Law ) Tj ET Q
q 0 0 0 rg BT 321.51 412.55 Td (is ) Tj ET Q
q 0 0 0 rg BT 330.91 412.55 Td (complex, ) Tj ET Q
q 0 0 0 rg BT 372.09 412.55 Td (materially ) Tj ET Q
q 0 0 0 rg BT 417.05 412.55 Td (changes ) Tj ET Q
q 0 0 0 rg BT 453.26 412.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 468.49 412.55 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 489.56 412.55 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 531.59 412.55 Td (income ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 399.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 65.29 399.95 Td (rate ) Tj ET Q
q 0 0 0 rg BT 83.98 399.95 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 107.35 399.95 Td (35%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 126.60 399.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 129.55 399.95 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 140.68 399.95 Td (21%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 159.93 399.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 162.89 399.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 181.00 399.95 Td (includes ) Tj ET Q
q 0 0 0 rg BT 218.96 399.95 Td (various ) Tj ET Q
q 0 0 0 rg BT 252.83 399.95 Td (other ) Tj ET Q
q 0 0 0 rg BT 277.36 399.95 Td (changes ) Tj ET Q
q 0 0 0 rg BT 314.14 399.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 342.76 399.95 Td (will ) Tj ET Q
q 0 0 0 rg BT 362.05 399.95 Td (impact ) Tj ET Q
q 0 0 0 rg BT 393.58 399.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 418.11 399.95 Td (Mason. ) Tj ET Q
q 0 0 0 rg BT 452.28 399.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 455.03 399.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 474.31 399.95 Td (reduction ) Tj ET Q
q 0 0 0 rg BT 516.92 399.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 528.05 399.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 543.83 399.95 Td (U.S. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 387.35 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 92.77 387.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 109.23 387.35 Td (rate ) Tj ET Q
q 0 0 0 rg BT 128.59 387.35 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 165.46 387.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 177.25 387.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 185.54 387.35 Td (one-time, ) Tj ET Q
q 0 0 0 rg BT 229.12 387.35 Td (non-cash ) Tj ET Q
q 0 0 0 rg BT 270.65 387.35 Td (provisional ) Tj ET Q
q 0 0 0 rg BT 321.52 387.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 337.98 387.35 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 370.76 387.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 383.14 387.35 Td ($220,935) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 422.51 387.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 426.14 387.35 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 475.83 387.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 487.62 387.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 504.08 387.35 Td (quarter ) Tj ET Q
q 0 0 0 rg BT 537.44 387.35 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 374.75 Td (December ) Tj ET Q
q 0 0 0 rg BT 95.30 374.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 111.09 374.75 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 137.38 374.75 Td (due ) Tj ET Q
q 0 0 0 rg BT 155.20 374.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 166.04 374.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 181.53 374.75 Td (re-measurement ) Tj ET Q
q 0 0 0 rg BT 251.82 374.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 263.23 374.75 Td (certain ) Tj ET Q
q 0 0 0 rg BT 294.46 374.75 Td (existing ) Tj ET Q
q 0 0 0 rg BT 330.37 374.75 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 368.01 374.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 383.50 374.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 410.66 374.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 428.49 374.75 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 470.23 374.75 Td (at ) Tj ET Q
q 0 0 0 rg BT 480.47 374.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 495.96 374.75 Td (new ) Tj ET Q
q 0 0 0 rg BT 516.12 374.75 Td (income ) Tj ET Q
q 0 0 0 rg BT 549.69 374.75 Td (tax ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 362.15 Td (rate. ) Tj ET Q
q 0 0 0 rg BT 70.41 362.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 72.97 362.15 Td (In ) Tj ET Q
q 0 0 0 rg BT 84.27 362.15 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 123.86 362.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 131.07 362.15 Td (non-cash ) Tj ET Q
q 0 0 0 rg BT 171.53 362.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 186.91 362.15 Td (char) Tj ET Q
q 0 0 0 rg BT 204.79 362.15 Td (ge ) Tj ET Q
q 0 0 0 rg BT 217.25 362.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 228.55 362.15 Td ($7,260) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 257.43 362.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 259.98 362.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 278.86 362.15 Td (provisionally ) Tj ET Q
q 0 0 0 rg BT 336.83 362.15 Td (provided ) Tj ET Q
q 0 0 0 rg BT 376.71 362.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 387.43 362.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 402.81 362.15 Td (quarter ) Tj ET Q
q 0 0 0 rg BT 435.10 362.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 462.72 362.15 Td (December ) Tj ET Q
q 0 0 0 rg BT 508.41 362.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 524.09 362.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 550.27 362.15 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 349.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.83 349.55 Td (ef) Tj ET Q
q 0 0 0 rg BT 72.79 349.55 Td (fects ) Tj ET Q
q 0 0 0 rg BT 95.11 349.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 108.11 349.55 Td (unremitted ) Tj ET Q
q 0 0 0 rg BT 156.09 349.55 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 188.91 349.55 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 226.98 349.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 244.64 349.55 Td (other ) Tj ET Q
q 0 0 0 rg BT 268.71 349.55 Td (aspects ) Tj ET Q
q 0 0 0 rg BT 301.53 349.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 312.77 349.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 327.92 349.55 Td (T) Tj ET Q
q 0 0 0 rg BT 333.60 349.55 Td (ax ) Tj ET Q
q 0 0 0 rg BT 346.01 349.55 Td (Law) Tj ET Q
q 0 0 0 rg BT 363.98 349.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 369.10 349.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 371.60 349.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 395.67 349.55 Td (Mason�) Tj ET Q
q 0 0 0 rg BT 427.17 349.55 Td (s ) Tj ET Q
q 0 0 0 rg BT 433.76 349.55 Td (re-measurement ) Tj ET Q
q 0 0 0 rg BT 503.89 349.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 515.13 349.55 Td (its ) Tj ET Q
q 0 0 0 rg BT 527.55 349.55 Td (deferred ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 336.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 64.10 336.95 Td (assets ) Tj ET Q
q 0 0 0 rg BT 90.37 336.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 107.30 336.95 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 148.15 336.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 156.92 336.95 Td (subject ) Tj ET Q
q 0 0 0 rg BT 188.43 336.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 198.37 336.95 Td (further ) Tj ET Q
q 0 0 0 rg BT 228.71 336.95 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 280.64 336.95 Td (during ) Tj ET Q
q 0 0 0 rg BT 309.83 336.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 324.43 336.95 Td (measurement ) Tj ET Q
q 0 0 0 rg BT 382.17 336.95 Td (period ) Tj ET Q
q 0 0 0 rg BT 410.77 336.95 Td (due ) Tj ET Q
q 0 0 0 rg BT 427.70 336.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 437.64 336.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 452.23 336.95 Td (complexity ) Tj ET Q
q 0 0 0 rg BT 501.25 336.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 511.76 336.95 Td (determining ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 324.35 Td (its ) Tj ET Q
q 0 0 0 rg BT 62.26 324.35 Td (net ) Tj ET Q
q 0 0 0 rg BT 77.92 324.35 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 115.72 324.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 131.39 324.35 Td (liability ) Tj ET Q
q 0 0 0 rg BT 166.88 324.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 178.47 324.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 190.05 324.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 205.71 324.35 Td (enactment ) Tj ET Q
q 0 0 0 rg BT 251.69 324.35 Td (date. ) Tj ET Q
q 0 0 0 rg BT 274.64 324.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 277.47 324.35 Td (Further) Tj ET Q
q 0 0 0 rg BT 307.96 324.35 Td (, ) Tj ET Q
q 0 0 0 rg BT 313.42 324.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 337.83 324.35 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 375.22 324.35 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 424.12 324.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 439.20 324.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 454.86 324.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 470.53 324.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 483.86 324.35 Td (unremitted ) Tj ET Q
q 0 0 0 rg BT 532.18 324.35 Td (foreign ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 311.75 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 86.83 311.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 95.59 311.75 Td (incomplete ) Tj ET Q
q 0 0 0 rg BT 144.00 311.75 Td (due ) Tj ET Q
q 0 0 0 rg BT 160.91 311.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 170.83 311.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 185.42 311.75 Td (complexity ) Tj ET Q
q 0 0 0 rg BT 234.42 311.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 244.92 311.75 Td (determining ) Tj ET Q
q 0 0 0 rg BT 297.41 311.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 312.00 311.75 Td (various ) Tj ET Q
q 0 0 0 rg BT 344.66 311.75 Td (components ) Tj ET Q
q 0 0 0 rg BT 397.16 311.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 407.66 311.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 422.25 311.75 Td (calculation, ) Tj ET Q
q 0 0 0 rg BT 472.69 311.75 Td (including ) Tj ET Q
q 0 0 0 rg BT 514.11 311.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 528.69 311.75 Td (relevant ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 299.15 Td (level ) Tj ET Q
q 0 0 0 rg BT 72.24 299.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 83.32 299.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 107.22 299.15 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 144.12 299.15 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 176.77 299.15 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 214.67 299.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 232.16 299.15 Td (profits ) Tj ET Q
q 0 0 0 rg BT 261.91 299.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 279.40 299.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 294.56 299.15 Td (amount ) Tj ET Q
q 0 0 0 rg BT 328.39 299.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 339.47 299.15 Td (those ) Tj ET Q
q 0 0 0 rg BT 363.96 299.15 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 401.87 299.15 Td (held ) Tj ET Q
q 0 0 0 rg BT 422.28 299.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 432.78 299.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 453.76 299.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 471.26 299.15 Td (other ) Tj ET Q
q 0 0 0 rg BT 495.16 299.15 Td (specified ) Tj ET Q
q 0 0 0 rg BT 535.39 299.15 Td (assets. ) Tj ET Q
q 0 0 0 rg BT 565.14 299.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 286.55 Td (Additional ) Tj ET Q
q 0 0 0 rg BT 97.75 286.55 Td (adjustments ) Tj ET Q
q 0 0 0 rg BT 151.26 286.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 162.76 286.55 Td (these ) Tj ET Q
q 0 0 0 rg BT 187.68 286.55 Td (provisional ) Tj ET Q
q 0 0 0 rg BT 238.26 286.55 Td (items ) Tj ET Q
q 0 0 0 rg BT 264.35 286.55 Td (may ) Tj ET Q
q 0 0 0 rg BT 285.77 286.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 299.02 286.55 Td (made ) Tj ET Q
q 0 0 0 rg BT 325.09 286.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 336.60 286.55 Td (subsequent ) Tj ET Q
q 0 0 0 rg BT 386.60 286.55 Td (periods ) Tj ET Q
q 0 0 0 rg BT 420.85 286.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 432.94 286.55 Td (more ) Tj ET Q
q 0 0 0 rg BT 457.85 286.55 Td (detailed ) Tj ET Q
q 0 0 0 rg BT 494.42 286.55 Td (information ) Tj ET Q
q 0 0 0 rg BT 547.34 286.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 273.95 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 89.41 273.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 98.42 273.95 Td (obtained ) Tj ET Q
q 0 0 0 rg BT 136.59 273.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 153.76 273.95 Td (analyzed. ) Tj ET Q
q 0 0 0 rg BT 195.70 273.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 197.57 273.95 Td (The ) Tj ET Q
q 0 0 0 rg BT 215.76 273.95 Td (T) Tj ET Q
q 0 0 0 rg BT 221.44 273.95 Td (ax ) Tj ET Q
q 0 0 0 rg BT 233.36 273.95 Td (Law ) Tj ET Q
q 0 0 0 rg BT 254.03 273.95 Td (has ) Tj ET Q
q 0 0 0 rg BT 270.03 273.95 Td (also ) Tj ET Q
q 0 0 0 rg BT 288.96 273.95 Td (created ) Tj ET Q
q 0 0 0 rg BT 321.27 273.95 Td (new ) Tj ET Q
q 0 0 0 rg BT 340.78 273.95 Td (taxes ) Tj ET Q
q 0 0 0 rg BT 364.36 273.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 376.87 273.95 Td (international ) Tj ET Q
q 0 0 0 rg BT 431.95 273.95 Td (operations, ) Tj ET Q
q 0 0 0 rg BT 480.32 273.95 Td (including ) Tj ET Q
q 0 0 0 rg BT 522.00 273.95 Td (its ) Tj ET Q
q 0 0 0 rg BT 533.93 273.95 Td (Global ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 261.35 Td (Intangible ) Tj ET Q
q 0 0 0 rg BT 94.91 261.35 Td (Low-T) Tj ET Q
q 0 0 0 rg BT 123.34 261.35 Td (axed ) Tj ET Q
q 0 0 0 rg BT 146.00 261.35 Td (Income ) Tj ET Q
q 0 0 0 rg BT 180.33 261.35 Td (\("GIL) Tj ET Q
q 0 0 0 rg BT 204.65 261.35 Td (TI"\) ) Tj ET Q
q 0 0 0 rg BT 225.18 261.35 Td (provision. ) Tj ET Q
q 0 0 0 rg BT 270.32 261.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 272.54 261.35 Td (Accounting ) Tj ET Q
q 0 0 0 rg BT 324.37 261.35 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 365.12 261.35 Td (relevant ) Tj ET Q
q 0 0 0 rg BT 401.77 261.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 412.78 261.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 428.46 261.35 Td (GIL) Tj ET Q
q 0 0 0 rg BT 444.99 261.35 Td (TI ) Tj ET Q
q 0 0 0 rg BT 457.74 261.35 Td (provision ) Tj ET Q
q 0 0 0 rg BT 500.25 261.35 Td (provides ) Tj ET Q
q 0 0 0 rg BT 539.26 261.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 557.85 261.35 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 248.75 Td (company ) Tj ET Q
q 0 0 0 rg BT 90.84 248.75 Td (can ) Tj ET Q
q 0 0 0 rg BT 108.27 248.75 Td (elect ) Tj ET Q
q 0 0 0 rg BT 130.94 248.75 Td (during ) Tj ET Q
q 0 0 0 rg BT 161.21 248.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 176.89 248.75 Td (measurement ) Tj ET Q
q 0 0 0 rg BT 235.72 248.75 Td (period ) Tj ET Q
q 0 0 0 rg BT 265.40 248.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 276.43 248.75 Td (either ) Tj ET Q
q 0 0 0 rg BT 303.18 248.75 Td (account ) Tj ET Q
q 0 0 0 rg BT 338.69 248.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 353.78 248.75 Td (this ) Tj ET Q
q 0 0 0 rg BT 371.81 248.75 Td (tax ) Tj ET Q
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q 0 0 0 rg BT 399.09 248.75 Td (an ) Tj ET Q
q 0 0 0 rg BT 411.86 248.75 Td (expense ) Tj ET Q
q 0 0 0 rg BT 448.53 248.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 459.55 248.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 475.24 248.75 Td (period ) Tj ET Q
q 0 0 0 rg BT 504.92 248.75 Td (incurred ) Tj ET Q
q 0 0 0 rg BT 542.75 248.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 554.35 248.75 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 236.15 Td (factor ) Tj ET Q
q 0 0 0 rg BT 76.52 236.15 Td (it ) Tj ET Q
q 0 0 0 rg BT 84.90 236.15 Td (into ) Tj ET Q
q 0 0 0 rg BT 103.78 236.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 119.15 236.15 Td (measurement ) Tj ET Q
q 0 0 0 rg BT 177.67 236.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 188.95 236.15 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 226.47 236.15 Td (taxes. ) Tj ET Q
q 0 0 0 rg BT 253.21 236.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 255.19 236.15 Td (As ) Tj ET Q
q 0 0 0 rg BT 269.40 236.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 293.52 236.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 324.64 236.15 Td (requires ) Tj ET Q
q 0 0 0 rg BT 361.00 236.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 405.53 236.15 Td (time ) Tj ET Q
q 0 0 0 rg BT 426.74 236.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 437.45 236.15 Td (evaluate ) Tj ET Q
q 0 0 0 rg BT 474.97 236.15 Td (this ) Tj ET Q
q 0 0 0 rg BT 492.68 236.15 Td (provision ) Tj ET Q
q 0 0 0 rg BT 534.89 236.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 552.59 236.15 Td (its ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 223.55 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 98.19 223.55 Td (implications, ) Tj ET Q
q 0 0 0 rg BT 155.35 223.55 Td (it ) Tj ET Q
q 0 0 0 rg BT 163.81 223.55 Td (has ) Tj ET Q
q 0 0 0 rg BT 180.44 223.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 196.48 223.55 Td (yet ) Tj ET Q
q 0 0 0 rg BT 211.93 223.55 Td (elected ) Tj ET Q
q 0 0 0 rg BT 244.28 223.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 251.57 223.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 282.76 223.55 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 331.45 223.55 Td (policy) Tj ET Q
q 0 0 0 rg BT 357.01 223.55 Td (. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 198.35 Td (In ) Tj ET Q
q 0 0 0 rg BT 60.89 198.35 Td (November ) Tj ET Q
q 0 0 0 rg BT 107.86 198.35 Td (2015, ) Tj ET Q
q 0 0 0 rg BT 134.13 198.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 149.60 198.35 Td (U.K. ) Tj ET Q
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0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 468.05 60.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 440.05 385.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 440.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 440.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
499.00 440.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 440.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 410.05 385.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 410.05 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 410.05 60.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
499.00 410.05 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 410.05 60.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 382.05 385.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.00 382.05 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
439.00 382.05 60.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
499.00 382.05 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 382.05 60.00 -14.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 691.05 m
435 691.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439 691.05 m
499 691.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503 691.05 m
563 691.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 691.05 m
435 691.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439 691.05 m
499 691.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503 691.05 m
563 691.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 538.05 m
435 538.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439 538.05 m
499 538.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503 538.05 m
563 538.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439 510.05 m
499 510.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503 510.05 m
563 510.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 510.05 m
435 510.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 496.05 m
435 496.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439 510.05 m
499 510.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439 496.05 m
499 496.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503 510.05 m
563 510.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503 496.05 m
563 496.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439 396.05 m
499 396.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503 396.05 m
563 396.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 396.05 m
435 396.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 382.05 m
435 382.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439 396.05 m
499 396.05 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439 382.05 m
499 382.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503 396.05 m
563 396.05 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503 382.05 m
563 382.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 368.05 m
435 368.05 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
439 368.05 m
499 368.05 l
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BT /F2 10.50 Tf ET
q 0 0 0 rg BT 458.00 695.84 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 522.00 695.82 Td (2017) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 52.50 681.44 Td (DEFERRED ) Tj ET Q
q 0 0 0 rg BT 112.79 681.44 Td (T) Tj ET Q
q 0 0 0 rg BT 119.31 681.44 Td (AX ) Tj ET Q
q 0 0 0 rg BT 136.42 681.44 Td (ASSETS) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 668.27 Td (Accrued compensation and benefits) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 441.50 668.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 460.85 668.44 Td (149,891) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 505.50 668.27 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.85 668.27 Td (221,895) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 654.27 Td (Accrued expenses) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 466.10 654.44 Td (35,577) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.10 654.27 Td (46,31) Tj ET Q
q 0 0 0 rg BT 553.73 654.27 Td (1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 640.27 Td (Operating loss carryforwards) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 460.85 640.44 Td (352,300) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.85 640.27 Td (246,614) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 626.27 Td (Capital loss carryforwards) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 484.50 626.44 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 535.35 626.27 Td (6,183) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 612.27 Td (Foreign tax credit carryforward) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 460.85 612.44 Td (278,131) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.85 612.27 Td (283,746) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 598.27 Td (Federal benefit of uncertain tax positions) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 471.35 598.44 Td (7,147) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.10 598.27 Td (13,421) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 584.27 Td (Mutual fund launch costs) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 466.10 584.44 Td (14,619) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.10 584.27 Td (25,292) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 570.27 Td (Martin Currie defined benefit pension liability) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 471.35 570.44 Td (5,909) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 535.35 570.27 Td (5,293) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 556.27 Td (Charitable contributions carryforwards) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 479.25 556.44 Td (973) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 543.25 556.27 Td (814) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 542.27 Td (Other) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 471.35 542.44 Td (7,643) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 548.50 542.27 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 528.27 Td (Deferred tax assets) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 460.85 528.44 Td (852,190) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.85 528.27 Td (849,569) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 514.27 Td (V) Tj ET Q
q 0 0 0 rg BT 59.50 514.27 Td (aluation allowance) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 457.35 514.44 Td (\(126,538) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 495.00 514.44 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 526.60 514.27 Td (\(71,063) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 559.00 514.27 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 500.27 Td (Deferred tax assets after valuation allowance) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 441.50 500.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 460.85 500.44 Td (725,652) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 505.50 500.27 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.85 500.27 Td (778,506) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 52.50 472.44 Td (DEFERRED ) Tj ET Q
q 0 0 0 rg BT 112.69 472.44 Td (T) Tj ET Q
q 0 0 0 rg BT 118.92 472.44 Td (AX LIABILITIES) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 458.27 Td (Basis dif) Tj ET Q
q 0 0 0 rg BT 89.45 458.27 Td (ferences, principally for intangible assets and goodwill) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 441.50 458.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 471.35 458.44 Td (2,262) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 505.50 458.27 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.10 458.27 Td (20,339) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 444.27 Td (Depreciation and amortization) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 460.85 444.44 Td (588,890) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.85 444.27 Td (801,133) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 429.82 Td (Net unrealized gains from investments) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 471.35 429.84 Td (5,796) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 535.35 429.82 Td (4,730) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 414.82 Td (Basis dif) Tj ET Q
q 0 0 0 rg BT 89.45 414.82 Td (ferences in partnerships) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 466.10 414.84 Td (66,423) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.10 414.82 Td (75,653) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 400.27 Td (Other) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 484.50 400.44 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 535.35 400.27 Td (3,037) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 386.27 Td (Deferred tax liabilities) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 460.85 386.44 Td (663,371) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.85 386.27 Td (904,892) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 372.27 Td (Net deferred tax assets \(liabilities\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 441.50 372.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 466.10 372.44 Td (62,281) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 505.50 372.27 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 521.35 372.27 Td (\(126,386) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 559.00 372.27 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 343.35 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.13 343.35 Td (further ) Tj ET Q
q 0 0 0 rg BT 93.67 343.35 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 135.88 343.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 146.01 343.35 Td (Note ) Tj ET Q
q 0 0 0 rg BT 168.38 343.35 Td (1, ) Tj ET Q
q 0 0 0 rg BT 178.22 343.35 Td (ef) Tj ET Q
q 0 0 0 rg BT 186.19 343.35 Td (fective ) Tj ET Q
q 0 0 0 rg BT 216.28 343.35 Td (April ) Tj ET Q
q 0 0 0 rg BT 240.41 343.35 Td (1, ) Tj ET Q
q 0 0 0 rg BT 250.25 343.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 275.84 343.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 299.38 343.35 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 329.93 343.35 Td (adopted ) Tj ET Q
q 0 0 0 rg BT 365.13 343.35 Td (updated ) Tj ET Q
q 0 0 0 rg BT 400.33 343.35 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 440.19 343.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 452.66 343.35 Td (stock-based ) Tj ET Q
q 0 0 0 rg BT 504.19 343.35 Td (compensation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 330.75 Td (accounting. ) Tj ET Q
q 0 0 0 rg BT 100.72 330.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 103.06 330.75 Td (This ) Tj ET Q
q 0 0 0 rg BT 124.25 330.75 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 164.67 330.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 183.53 330.75 Td (adopted ) Tj ET Q
q 0 0 0 rg BT 219.29 330.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 232.31 330.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 239.50 330.75 Td (modified ) Tj ET Q
q 0 0 0 rg BT 279.93 330.75 Td (retrospective ) Tj ET Q
q 0 0 0 rg BT 336.68 330.75 Td (basis, ) Tj ET Q
q 0 0 0 rg BT 362.83 330.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 380.51 330.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 387.70 330.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 403.05 330.75 Td (asset ) Tj ET Q
q 0 0 0 rg BT 425.99 330.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 437.26 330.75 Td ($24,327) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 471.38 330.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 473.91 330.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 492.76 330.75 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 541.34 330.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 552.61 330.75 Td (an ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 318.15 Td (increase ) Tj ET Q
q 0 0 0 rg BT 86.81 318.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 97.90 318.15 Td (both ) Tj ET Q
q 0 0 0 rg BT 119.49 318.15 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 157.38 318.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 173.13 318.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 200.55 318.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 218.63 318.15 Td (Retained ) Tj ET Q
q 0 0 0 rg BT 258.87 318.15 Td (Earnings ) Tj ET Q
q 0 0 0 rg BT 299.12 318.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 312.54 318.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 328.29 318.15 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 386.62 318.15 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 423.36 318.15 Td (Sheet ) Tj ET Q
q 0 0 0 rg BT 449.61 318.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 461.28 318.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 472.30 318.15 Td (April ) Tj ET Q
q 0 0 0 rg BT 497.39 318.15 Td (1, ) Tj ET Q
q 0 0 0 rg BT 508.18 318.15 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 534.73 318.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 537.44 318.15 Td (These ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 305.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 65.39 305.55 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 101.68 305.55 Td (were ) Tj ET Q
q 0 0 0 rg BT 125.14 305.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 141.62 305.55 Td (previously ) Tj ET Q
q 0 0 0 rg BT 189.00 305.55 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 238.12 305.55 Td (due ) Tj ET Q
q 0 0 0 rg BT 256.34 305.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 267.56 305.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 292.20 305.55 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 329.82 305.55 Td (cumulative ) Tj ET Q
q 0 0 0 rg BT 379.53 305.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 395.41 305.55 Td (loss ) Tj ET Q
q 0 0 0 rg BT 414.81 305.55 Td (position. ) Tj ET Q
q 0 0 0 rg BT 454.33 305.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 457.39 305.55 Td (In ) Tj ET Q
q 0 0 0 rg BT 469.20 305.55 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 509.29 305.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 533.93 305.55 Td (Mason ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 292.95 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 88.49 292.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 95.42 292.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 126.25 292.95 Td (discrete ) Tj ET Q
q 0 0 0 rg BT 161.17 292.95 Td (Income ) Tj ET Q
q 0 0 0 rg BT 194.92 292.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 210.02 292.95 Td (expense ) Tj ET Q
q 0 0 0 rg BT 246.10 292.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 257.12 292.95 Td ($796) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 278.12 292.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 280.39 292.95 Td (during ) Tj ET Q
q 0 0 0 rg BT 310.07 292.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 325.16 292.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 345.50 292.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 372.84 292.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 402.51 292.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 417.90 292.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 443.79 292.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 458.31 292.95 Td (vested ) Tj ET Q
q 0 0 0 rg BT 487.40 292.95 Td (stock ) Tj ET Q
q 0 0 0 rg BT 511.83 292.95 Td (awards ) Tj ET Q
q 0 0 0 rg BT 543.83 292.95 Td (with ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 280.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 56.87 280.35 Td (grant ) Tj ET Q
q 0 0 0 rg BT 81.16 280.35 Td (date ) Tj ET Q
q 0 0 0 rg BT 101.36 280.35 Td (exercise ) Tj ET Q
q 0 0 0 rg BT 138.47 280.35 Td (price ) Tj ET Q
q 0 0 0 rg BT 162.16 280.35 Td (higher ) Tj ET Q
q 0 0 0 rg BT 191.70 280.35 Td (than ) Tj ET Q
q 0 0 0 rg BT 212.49 280.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 228.03 280.35 Td (related ) Tj ET Q
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/GS0 gs
q 0 0 0 rg BT 535.11 741.75 Td (March ) Tj ET Q
BT /F1 10.50 Tf ET
1 1 1 rg
/GS0 gs
49.50 736.43 37.03 -9.55 re f
/GS0 gs
q 0 0 0 rg BT 49.50 729.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 65.53 729.15 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
1 1 1 rg
/GS0 gs
86.53 736.43 189.15 -9.55 re f
/GS0 gs
q 0 0 0 rg BT 86.53 729.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 92.06 729.15 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 113.64 729.15 Td (federal ) Tj ET Q
q 0 0 0 rg BT 145.69 729.15 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 183.57 729.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 199.31 729.15 Td (assets ) Tj ET Q
q 0 0 0 rg BT 226.71 729.15 Td (aggregated ) Tj ET Q
BT /F1 10.50 Tf ET
1 1 1 rg
/GS0 gs
275.68 736.43 39.38 -9.55 re f
/GS0 gs
q 0 0 0 rg BT 275.68 729.15 Td ($550,916) Tj ET Q
BT /F1 10.50 Tf ET
1 1 1 rg
/GS0 gs
315.05 736.43 250.09 -9.55 re f
/GS0 gs
q 0 0 0 rg BT 315.05 729.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 320.58 729.15 Td (realization ) Tj ET Q
q 0 0 0 rg BT 367.80 729.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 379.46 729.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 408.02 729.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 417.93 729.15 Td (expected ) Tj ET Q
q 0 0 0 rg BT 458.15 729.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 469.23 729.15 Td (require ) Tj ET Q
q 0 0 0 rg BT 501.87 729.15 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
1 1 1 rg
/GS0 gs
49.50 723.83 47.25 -9.55 re f
/GS0 gs
q 0 0 0 rg BT 49.50 716.55 Td ($3,835,507) Tj ET Q
BT /F1 10.50 Tf ET
1 1 1 rg
/GS0 gs
96.75 723.83 221.96 -9.55 re f
/GS0 gs
q 0 0 0 rg BT 96.75 716.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 100.36 716.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 112.72 716.55 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 135.00 716.55 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 174.18 716.55 Td (over ) Tj ET Q
q 0 0 0 rg BT 196.45 716.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 212.89 716.55 Td (next ) Tj ET Q
q 0 0 0 rg BT 234.58 716.55 Td (10 ) Tj ET Q
q 0 0 0 rg BT 248.69 716.55 Td (years, ) Tj ET Q
q 0 0 0 rg BT 277.08 716.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 289.44 716.55 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
1 1 1 rg
/GS0 gs
318.71 723.83 47.25 -9.55 re f
/GS0 gs
q 0 0 0 rg BT 318.71 716.55 Td ($1,324,435) Tj ET Q
BT /F1 10.50 Tf ET
1 1 1 rg
/GS0 gs
365.96 723.83 149.56 -9.55 re f
/GS0 gs
q 0 0 0 rg BT 365.96 716.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 369.57 716.55 Td (must ) Tj ET Q
q 0 0 0 rg BT 393.60 716.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 407.13 716.55 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 441.06 716.55 Td (sourced ) Tj ET Q
q 0 0 0 rg BT 477.32 716.55 Td (earnings.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 515.52 716.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 519.13 716.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 522.74 716.55 Td (Based ) Tj ET Q
q 0 0 0 rg BT 552.01 716.55 Td (on ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 703.95 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 91.87 703.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 103.92 703.95 Td (future ) Tj ET Q
q 0 0 0 rg BT 132.29 703.95 Td (taxable ) Tj ET Q
q 0 0 0 rg BT 165.90 703.95 Td (income, ) Tj ET Q
q 0 0 0 rg BT 202.73 703.95 Td (using ) Tj ET Q
q 0 0 0 rg BT 228.78 703.95 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 284.00 703.95 Td (consistent ) Tj ET Q
q 0 0 0 rg BT 329.30 703.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 351.26 703.95 Td (those ) Tj ET Q
q 0 0 0 rg BT 376.72 703.95 Td (used ) Tj ET Q
q 0 0 0 rg BT 399.27 703.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 410.73 703.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 435.61 703.95 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 473.47 703.95 Td (goodwill ) Tj ET Q
q 0 0 0 rg BT 514.10 703.95 Td (impairment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 691.35 Td (testing, ) Tj ET Q
q 0 0 0 rg BT 82.63 691.35 Td (it ) Tj ET Q
q 0 0 0 rg BT 90.97 691.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 100.47 691.35 Td (more ) Tj ET Q
q 0 0 0 rg BT 124.55 691.35 Td (likely ) Tj ET Q
q 0 0 0 rg BT 150.97 691.35 Td (than ) Tj ET Q
q 0 0 0 rg BT 171.55 691.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 187.47 691.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 205.72 691.35 Td (substantially ) Tj ET Q
q 0 0 0 rg BT 261.30 691.35 Td (all ) Tj ET Q
q 0 0 0 rg BT 274.30 691.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 285.55 691.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 300.89 691.35 Td (current ) Tj ET Q
q 0 0 0 rg BT 333.12 691.35 Td (federal ) Tj ET Q
q 0 0 0 rg BT 364.77 691.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 380.10 691.35 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 415.84 691.35 Td (relating ) Tj ET Q
q 0 0 0 rg BT 450.41 691.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 461.09 691.35 Td (net ) Tj ET Q
q 0 0 0 rg BT 476.42 691.35 Td (operating ) Tj ET Q
q 0 0 0 rg BT 518.57 691.35 Td (losses ) Tj ET Q
q 0 0 0 rg BT 546.16 691.35 Td (will ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 62.38 678.75 Td (realized. ) Tj ET Q
q 0 0 0 rg BT 101.19 678.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 103.95 678.75 Td (W) Tj ET Q
q 0 0 0 rg BT 113.44 678.75 Td (ith ) Tj ET Q
q 0 0 0 rg BT 127.49 678.75 Td (respect ) Tj ET Q
q 0 0 0 rg BT 160.19 678.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 171.32 678.75 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 209.26 678.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 225.06 678.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 252.52 678.75 Td (relating ) Tj ET Q
q 0 0 0 rg BT 287.56 678.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 298.70 678.75 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 331.98 678.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 347.78 678.75 Td (credit ) Tj ET Q
q 0 0 0 rg BT 374.65 678.75 Td (carryforwards, ) Tj ET Q
q 0 0 0 rg BT 439.13 678.75 Td (it ) Tj ET Q
q 0 0 0 rg BT 447.93 678.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 457.90 678.75 Td (more ) Tj ET Q
q 0 0 0 rg BT 482.44 678.75 Td (likely ) Tj ET Q
q 0 0 0 rg BT 509.32 678.75 Td (than ) Tj ET Q
q 0 0 0 rg BT 530.37 678.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 546.75 678.75 Td (that ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 666.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 64.52 666.15 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 99.95 666.15 Td (relating ) Tj ET Q
q 0 0 0 rg BT 134.22 666.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 144.58 666.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 159.60 666.15 Td (utilization ) Tj ET Q
q 0 0 0 rg BT 204.37 666.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 215.31 666.15 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 278.15 666.15 Td ($1,589) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 307.02 666.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 309.22 666.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 320.15 666.15 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 352.67 666.15 Td (taxes ) Tj ET Q
q 0 0 0 rg BT 376.44 666.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 387.38 666.15 Td (credits ) Tj ET Q
q 0 0 0 rg BT 417.56 666.15 Td (will ) Tj ET Q
q 0 0 0 rg BT 436.09 666.15 Td (not ) Tj ET Q
q 0 0 0 rg BT 451.70 666.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 463.80 666.15 Td (realized ) Tj ET Q
q 0 0 0 rg BT 499.22 666.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 516.57 666.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 523.43 666.15 Td (valuation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 653.55 Td (allowance ) Tj ET Q
q 0 0 0 rg BT 95.71 653.55 Td (has ) Tj ET Q
q 0 0 0 rg BT 113.36 653.55 Td (been ) Tj ET Q
q 0 0 0 rg BT 136.83 653.55 Td (established. ) Tj ET Q
q 0 0 0 rg BT 189.76 653.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 193.41 653.55 Td (Further) Tj ET Q
q 0 0 0 rg BT 223.90 653.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 230.17 653.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 246.65 653.55 Td (Company's ) Tj ET Q
q 0 0 0 rg BT 297.11 653.55 Td (estimates ) Tj ET Q
q 0 0 0 rg BT 339.83 653.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 358.64 653.55 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 414.21 653.55 Td (do ) Tj ET Q
q 0 0 0 rg BT 428.36 653.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 445.43 653.55 Td (contemplate ) Tj ET Q
q 0 0 0 rg BT 500.39 653.55 Td (changes ) Tj ET Q
q 0 0 0 rg BT 537.85 653.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 549.67 653.55 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 640.95 Td (ownership ) Tj ET Q
q 0 0 0 rg BT 95.29 640.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 106.08 640.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 129.70 640.95 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 160.33 640.95 Td (stock, ) Tj ET Q
q 0 0 0 rg BT 187.17 640.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 214.88 640.95 Td (could, ) Tj ET Q
q 0 0 0 rg BT 242.87 640.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 253.09 640.95 Td (certain ) Tj ET Q
q 0 0 0 rg BT 283.70 640.95 Td (circumstances, ) Tj ET Q
q 0 0 0 rg BT 347.84 640.95 Td (limit ) Tj ET Q
q 0 0 0 rg BT 369.73 640.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 384.60 640.95 Td (utilization ) Tj ET Q
q 0 0 0 rg BT 429.22 640.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 440.01 640.95 Td (net ) Tj ET Q
q 0 0 0 rg BT 454.89 640.95 Td (operating ) Tj ET Q
q 0 0 0 rg BT 496.59 640.95 Td (loss ) Tj ET Q
q 0 0 0 rg BT 514.97 640.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 532.18 640.95 Td (foreign ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 628.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 64.27 628.35 Td (credit ) Tj ET Q
q 0 0 0 rg BT 90.11 628.35 Td (benefits. ) Tj ET Q
q 0 0 0 rg BT 127.92 628.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 129.43 628.35 Td (Any ) Tj ET Q
q 0 0 0 rg BT 149.45 628.35 Td (such ) Tj ET Q
q 0 0 0 rg BT 170.64 628.35 Td (limitation ) Tj ET Q
q 0 0 0 rg BT 213.41 628.35 Td (would ) Tj ET Q
q 0 0 0 rg BT 241.60 628.35 Td (impact ) Tj ET Q
q 0 0 0 rg BT 272.12 628.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 286.89 628.35 Td (timing ) Tj ET Q
q 0 0 0 rg BT 316.25 628.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 326.93 628.35 Td (amount ) Tj ET Q
q 0 0 0 rg BT 360.37 628.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 371.06 628.35 Td (net ) Tj ET Q
q 0 0 0 rg BT 385.83 628.35 Td (operating ) Tj ET Q
q 0 0 0 rg BT 427.42 628.35 Td (loss ) Tj ET Q
q 0 0 0 rg BT 445.70 628.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 456.39 628.35 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 488.65 628.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 503.42 628.35 Td (credit ) Tj ET Q
q 0 0 0 rg BT 529.26 628.35 Td (benefits ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 615.75 Td (ultimately ) Tj ET Q
q 0 0 0 rg BT 94.70 615.75 Td (realized ) Tj ET Q
q 0 0 0 rg BT 130.55 615.75 Td (before ) Tj ET Q
q 0 0 0 rg BT 159.99 615.75 Td (they ) Tj ET Q
q 0 0 0 rg BT 180.69 615.75 Td (expire.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 590.55 Td (During ) Tj ET Q
q 0 0 0 rg BT 82.36 590.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 98.30 590.55 Td (year ) Tj ET Q
q 0 0 0 rg BT 119.48 590.55 Td (ended ) Tj ET Q
q 0 0 0 rg BT 147.67 590.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 178.19 590.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 194.42 590.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 221.16 590.55 Td (federal ) Tj ET Q
q 0 0 0 rg BT 253.42 590.55 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 295.60 590.55 Td (allowances ) Tj ET Q
q 0 0 0 rg BT 345.36 590.55 Td (decreased ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 389.86 590.55 Td ($6,378) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 418.74 590.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 424.48 590.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 436.34 590.55 Td (compared ) Tj ET Q
q 0 0 0 rg BT 480.85 590.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 492.13 590.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 522.65 590.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 538.88 590.55 Td (2017, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 577.95 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 91.20 577.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 102.57 577.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 109.86 577.95 Td (result ) Tj ET Q
q 0 0 0 rg BT 135.81 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 147.18 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 162.63 577.95 Td (impact ) Tj ET Q
q 0 0 0 rg BT 193.83 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 205.21 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 220.47 577.95 Td (T) Tj ET Q
q 0 0 0 rg BT 226.15 577.95 Td (ax ) Tj ET Q
q 0 0 0 rg BT 238.69 577.95 Td (Law ) Tj ET Q
q 0 0 0 rg BT 259.97 577.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 273.09 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 288.55 577.95 Td (ability ) Tj ET Q
q 0 0 0 rg BT 318.00 577.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 328.79 577.95 Td (utilize ) Tj ET Q
q 0 0 0 rg BT 357.66 577.95 Td (carryforward ) Tj ET Q
q 0 0 0 rg BT 415.08 577.95 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 448.03 577.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 463.48 577.95 Td (credits. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 552.75 Td (As ) Tj ET Q
q 0 0 0 rg BT 64.05 552.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 75.68 552.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 105.97 552.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 121.98 552.75 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 148.48 552.75 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 170.04 552.75 Td (state ) Tj ET Q
q 0 0 0 rg BT 192.17 552.75 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 230.02 552.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 245.73 552.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 273.11 552.75 Td (aggregated ) Tj ET Q
q 0 0 0 rg BT 322.05 552.75 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 385.58 552.75 Td ($220,152) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 424.96 552.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 430.47 552.75 Td (of) Tj ET Q
q 0 0 0 rg BT 439.02 552.75 Td (fset ) Tj ET Q
q 0 0 0 rg BT 457.07 552.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 470.45 552.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 477.99 552.75 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 519.95 552.75 Td (allowance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 540.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 61.01 540.15 Td ($92,1) Tj ET Q
q 0 0 0 rg BT 84.25 540.15 Td (16) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 94.75 540.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 100.14 540.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 118.07 540.15 Td (were ) Tj ET Q
q 0 0 0 rg BT 141.24 540.15 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 183.08 540.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 214.41 540.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 225.34 540.15 Td (state ) Tj ET Q
q 0 0 0 rg BT 247.35 540.15 Td (net ) Tj ET Q
q 0 0 0 rg BT 262.95 540.15 Td (operating ) Tj ET Q
q 0 0 0 rg BT 305.37 540.15 Td (loss ) Tj ET Q
q 0 0 0 rg BT 324.48 540.15 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 360.48 540.15 Td (generated ) Tj ET Q
q 0 0 0 rg BT 404.06 540.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 414.99 540.15 Td (certain ) Tj ET Q
q 0 0 0 rg BT 446.32 540.15 Td (jurisdictions ) Tj ET Q
q 0 0 0 rg BT 501.00 540.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 511.94 540.15 Td (cases ) Tj ET Q
q 0 0 0 rg BT 536.86 540.15 Td (where ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 527.55 Td (it ) Tj ET Q
q 0 0 0 rg BT 58.87 527.55 Td (is ) Tj ET Q
q 0 0 0 rg BT 69.40 527.55 Td (more ) Tj ET Q
q 0 0 0 rg BT 94.51 527.55 Td (likely ) Tj ET Q
q 0 0 0 rg BT 121.96 527.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 141.24 527.55 Td (these ) Tj ET Q
q 0 0 0 rg BT 166.34 527.55 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 203.12 527.55 Td (will ) Tj ET Q
q 0 0 0 rg BT 222.98 527.55 Td (ultimately ) Tj ET Q
q 0 0 0 rg BT 269.09 527.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 286.04 527.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 299.49 527.55 Td (realized. ) Tj ET Q
q 0 0 0 rg BT 338.87 527.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 342.40 527.55 Td (During ) Tj ET Q
q 0 0 0 rg BT 375.68 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 392.04 527.55 Td (year ) Tj ET Q
q 0 0 0 rg BT 413.64 527.55 Td (ended ) Tj ET Q
q 0 0 0 rg BT 442.25 527.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 473.18 527.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 489.84 527.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 517.00 527.55 Td (changes ) Tj ET Q
q 0 0 0 rg BT 554.35 527.55 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 514.95 Td (Pennsylvania ) Tj ET Q
q 0 0 0 rg BT 107.62 514.95 Td (law ) Tj ET Q
q 0 0 0 rg BT 124.90 514.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 152.69 514.95 Td (liberalized ) Tj ET Q
q 0 0 0 rg BT 199.12 514.95 Td (an ) Tj ET Q
q 0 0 0 rg BT 211.16 514.95 Td (annual ) Tj ET Q
q 0 0 0 rg BT 241.27 514.95 Td (limitation ) Tj ET Q
q 0 0 0 rg BT 284.23 514.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 296.85 514.95 Td (use ) Tj ET Q
q 0 0 0 rg BT 312.97 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 323.84 514.95 Td (net ) Tj ET Q
q 0 0 0 rg BT 338.79 514.95 Td (operating ) Tj ET Q
q 0 0 0 rg BT 380.57 514.95 Td (losses ) Tj ET Q
q 0 0 0 rg BT 407.78 514.95 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 443.14 514.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 453.44 514.95 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 460.22 514.95 Td ($62,397) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.35 514.95 Td ( ) Tj ET Q
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q 0 0 0 rg BT 160.82 716.55 Td (liabilities\) ) Tj ET Q
q 0 0 0 rg BT 205.14 716.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 219.70 716.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 234.27 716.55 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 271.59 716.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 282.08 716.55 Td (unrecognized ) Tj ET Q
q 0 0 0 rg BT 340.38 716.55 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 375.36 716.55 Td (which, ) Tj ET Q
q 0 0 0 rg BT 405.38 716.55 Td (if ) Tj ET Q
q 0 0 0 rg BT 413.54 716.55 Td (recognized, ) Tj ET Q
q 0 0 0 rg BT 463.96 716.55 Td (would ) Tj ET Q
q 0 0 0 rg BT 491.96 716.55 Td (favorably ) Tj ET Q
q 0 0 0 rg BT 533.93 716.55 Td (impact ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 703.95 Td (future ) Tj ET Q
q 0 0 0 rg BT 78.42 703.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 113.18 703.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 129.85 703.95 Td (provisions ) Tj ET Q
q 0 0 0 rg BT 177.46 703.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 196.47 703.95 Td (ef) Tj ET Q
q 0 0 0 rg BT 204.43 703.95 Td (fective ) Tj ET Q
q 0 0 0 rg BT 236.85 703.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 253.52 703.95 Td (rates. ) Tj ET Q
q 0 0 0 rg BT 279.82 703.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 283.67 703.95 Td (During ) Tj ET Q
q 0 0 0 rg BT 317.27 703.95 Td (fiscal ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 343.85 703.95 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 364.85 703.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 371.33 703.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 388.00 703.95 Td (net ) Tj ET Q
q 0 0 0 rg BT 404.68 703.95 Td (impact ) Tj ET Q
q 0 0 0 rg BT 437.10 703.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 449.70 703.95 Td (ef) Tj ET Q
q 0 0 0 rg BT 457.67 703.95 Td (fective ) Tj ET Q
q 0 0 0 rg BT 490.08 703.95 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 537.09 703.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 549.68 703.95 Td (tax ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 691.35 Td (examinations, ) Tj ET Q
q 0 0 0 rg BT 110.84 691.35 Td (recent ) Tj ET Q
q 0 0 0 rg BT 139.20 691.35 Td (developments ) Tj ET Q
q 0 0 0 rg BT 200.25 691.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 211.72 691.35 Td (case ) Tj ET Q
q 0 0 0 rg BT 232.51 691.35 Td (law ) Tj ET Q
q 0 0 0 rg BT 250.39 691.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 268.28 691.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 283.83 691.35 Td (expiration ) Tj ET Q
q 0 0 0 rg BT 329.12 691.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 340.59 691.35 Td (statutes ) Tj ET Q
q 0 0 0 rg BT 374.81 691.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 386.28 691.35 Td (limitation ) Tj ET Q
q 0 0 0 rg BT 429.83 691.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 440.72 691.35 Td (certain ) Tj ET Q
q 0 0 0 rg BT 472.01 691.35 Td (jurisdictions, ) Tj ET Q
q 0 0 0 rg BT 529.27 691.35 Td (resulted ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 678.75 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 60.29 678.75 Td ($16,796) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 94.42 678.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 97.04 678.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 108.41 678.75 Td (previously ) Tj ET Q
q 0 0 0 rg BT 155.37 678.75 Td (unrecognized ) Tj ET Q
q 0 0 0 rg BT 214.55 678.75 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 250.41 678.75 Td (being ) Tj ET Q
q 0 0 0 rg BT 276.37 678.75 Td (realized.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 654.15 Td (A) Tj ET Q
q 0 0 0 rg BT 56.50 654.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 58.58 654.15 Td (reconciliation ) Tj ET Q
q 0 0 0 rg BT 118.39 654.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 129.21 654.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 144.12 654.15 Td (beginning ) Tj ET Q
q 0 0 0 rg BT 188.19 654.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 205.43 654.15 Td (ending ) Tj ET Q
q 0 0 0 rg BT 236.08 654.15 Td (amount ) Tj ET Q
q 0 0 0 rg BT 269.66 654.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 280.48 654.15 Td (unrecognized ) Tj ET Q
q 0 0 0 rg BT 339.11 654.15 Td (gross ) Tj ET Q
q 0 0 0 rg BT 363.36 654.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 378.27 654.15 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 413.58 654.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 427.90 654.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 442.81 654.15 Td (years ) Tj ET Q
q 0 0 0 rg BT 467.04 654.15 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.19 654.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 523.67 654.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 538.88 654.15 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 559.88 654.15 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 641.55 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 70.50 641.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 75.75 641.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 93.54 641.55 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 119.79 641.55 Td (is ) Tj ET Q
q 0 0 0 rg BT 129.41 641.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 140.79 641.55 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 616.05 320.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.00 616.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 616.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.00 616.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 616.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 616.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 616.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 586.05 320.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.00 586.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 586.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.00 586.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 586.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 586.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 586.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 556.05 320.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.00 556.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 556.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.00 556.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 556.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 556.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 556.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 526.05 320.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.00 526.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 526.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.00 526.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 526.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 526.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 526.05 60.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 616.05 m
370 616.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 616.05 m
434 616.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 616.05 m
498 616.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 616.05 m
562 616.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 616.05 m
370 616.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 616.05 m
434 616.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 616.05 m
498 616.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 616.05 m
562 616.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 526.05 m
434 526.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 526.05 m
498 526.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 526.05 m
562 526.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 526.05 m
370 526.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 511.05 m
370 511.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 526.05 m
434 526.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 511.05 m
434 511.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 526.05 m
498 526.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 511.05 m
498 511.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 526.05 m
562 526.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 511.05 m
562 511.05 l
s
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 393.00 620.84 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 457.00 620.82 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 521.00 620.82 Td (2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 605.82 Td (Balance, beginning of year) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 376.50 605.84 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 401.10 605.84 Td (70,787) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.50 605.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 465.10 605.82 Td (73,873) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 504.50 605.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 605.82 Td (92,344) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 590.82 Td (Additions based on tax positions related to the current year) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 406.35 590.84 Td (7,325) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.35 590.82 Td (3,303) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.35 590.82 Td (3,514) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 575.82 Td (Additions for tax positions of prior years) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 406.35 575.84 Td (5,01) Tj ET Q
q 0 0 0 rg BT 424.73 575.84 Td (1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.35 575.82 Td (5,673) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 575.82 Td (10,078) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 560.82 Td (Reductions for tax positions of prior years) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 402.85 560.84 Td (\(4,438) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 430.00 560.84 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 466.85 560.82 Td (\(8,257) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.00 560.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 538.75 560.82 Td (\(155) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 560.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 545.82 Td (Decreases related to settlements with taxing authorities) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 397.60 545.84 Td (\(15,957) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 430.00 545.84 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 466.85 545.82 Td (\(2,200) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.00 545.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 525.60 545.82 Td (\(25,046) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 545.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 530.82 Td (Expiration of statutes of limitations) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 419.50 530.84 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 466.85 530.82 Td (\(1,605) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.00 530.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.85 530.82 Td (\(6,862) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 530.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 515.82 Td (Balance, end of year) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 376.50 515.84 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 401.10 515.84 Td (62,728) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.50 515.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 465.10 515.82 Td (70,787) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 504.50 515.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.10 515.82 Td (73,873) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 486.35 Td (Although ) Tj ET Q
q 0 0 0 rg BT 91.39 486.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 147.25 486.35 Td (cannot ) Tj ET Q
q 0 0 0 rg BT 177.46 486.35 Td (predict ) Tj ET Q
q 0 0 0 rg BT 208.84 486.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 229.72 486.35 Td (any ) Tj ET Q
q 0 0 0 rg BT 247.10 486.35 Td (degree ) Tj ET Q
q 0 0 0 rg BT 277.30 486.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 288.27 486.35 Td (certainty ) Tj ET Q
q 0 0 0 rg BT 327.22 486.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 342.27 486.35 Td (timing ) Tj ET Q
q 0 0 0 rg BT 371.91 486.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 382.88 486.35 Td (ultimate ) Tj ET Q
q 0 0 0 rg BT 419.51 486.35 Td (resolution ) Tj ET Q
q 0 0 0 rg BT 463.72 486.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 474.69 486.35 Td (matters ) Tj ET Q
q 0 0 0 rg BT 507.82 486.35 Td (under ) Tj ET Q
q 0 0 0 rg BT 533.94 486.35 Td (review ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 473.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 62.92 473.75 Td (various ) Tj ET Q
q 0 0 0 rg BT 96.75 473.75 Td (taxing ) Tj ET Q
q 0 0 0 rg BT 125.92 473.75 Td (jurisdictions, ) Tj ET Q
q 0 0 0 rg BT 183.38 473.75 Td (it ) Tj ET Q
q 0 0 0 rg BT 192.13 473.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 202.06 473.75 Td (reasonably ) Tj ET Q
q 0 0 0 rg BT 250.46 473.75 Td (possible ) Tj ET Q
q 0 0 0 rg BT 287.80 473.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 306.46 473.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 322.21 473.75 Td (Company�) Tj ET Q
q 0 0 0 rg BT 365.96 473.75 Td (s ) Tj ET Q
q 0 0 0 rg BT 372.97 473.75 Td (gross ) Tj ET Q
q 0 0 0 rg BT 398.06 473.75 Td (unrecognized ) Tj ET Q
q 0 0 0 rg BT 457.53 473.75 Td (tax ) Tj ET Q
q 0 0 0 rg BT 473.28 473.75 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 509.44 473.75 Td (balance ) Tj ET Q
q 0 0 0 rg BT 544.42 473.75 Td (may ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 461.15 Td (change ) Tj ET Q
q 0 0 0 rg BT 81.78 461.15 Td (within ) Tj ET Q
q 0 0 0 rg BT 111.16 461.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 126.54 461.15 Td (next ) Tj ET Q
q 0 0 0 rg BT 147.17 461.15 Td (12 ) Tj ET Q
q 0 0 0 rg BT 160.22 461.15 Td (months ) Tj ET Q
q 0 0 0 rg BT 193.69 461.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 206.73 461.15 Td (up ) Tj ET Q
q 0 0 0 rg BT 219.78 461.15 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 230.50 461.15 Td ($2,874) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 259.37 461.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 261.92 461.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 273.22 461.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 280.43 461.15 Td (result ) Tj ET Q
q 0 0 0 rg BT 306.30 461.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 317.60 461.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 332.97 461.15 Td (expiration ) Tj ET Q
q 0 0 0 rg BT 378.09 461.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 389.39 461.15 Td (statutes ) Tj ET Q
q 0 0 0 rg BT 423.43 461.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 434.73 461.15 Td (limitations ) Tj ET Q
q 0 0 0 rg BT 482.19 461.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 499.90 461.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 515.28 461.15 Td (completion ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 448.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.87 448.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 76.32 448.55 Td (authorities' ) Tj ET Q
q 0 0 0 rg BT 125.17 448.55 Td (examinations.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 423.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 69.21 423.35 Td (Company ) Tj ET Q
q 0 0 0 rg BT 113.42 423.35 Td (accrues ) Tj ET Q
q 0 0 0 rg BT 148.28 423.35 Td (interest ) Tj ET Q
q 0 0 0 rg BT 182.56 423.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 214.51 423.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 226.06 423.35 Td (unrecognized ) Tj ET Q
q 0 0 0 rg BT 286.00 423.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 302.21 423.35 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 338.83 423.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 350.37 423.35 Td (interest ) Tj ET Q
q 0 0 0 rg BT 384.66 423.35 Td (expense ) Tj ET Q
q 0 0 0 rg BT 421.86 423.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 440.40 423.35 Td (recognizes ) Tj ET Q
q 0 0 0 rg BT 488.68 423.35 Td (penalties ) Tj ET Q
q 0 0 0 rg BT 529.38 423.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 540.93 423.35 Td (other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 410.75 Td (operating ) Tj ET Q
q 0 0 0 rg BT 91.38 410.75 Td (expense. ) Tj ET Q
q 0 0 0 rg BT 130.06 410.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 132.29 410.75 Td (During ) Tj ET Q
q 0 0 0 rg BT 164.27 410.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 179.33 410.75 Td (years ) Tj ET Q
q 0 0 0 rg BT 203.71 410.75 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 231.02 410.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 260.65 410.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 276.01 410.75 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 297.01 410.75 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 301.87 410.75 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 322.87 410.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 325.10 410.75 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 342.49 410.75 Td (2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 363.49 410.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 368.35 410.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 383.41 410.75 Td (Company ) Tj ET Q
q 0 0 0 rg BT 426.47 410.75 Td (reduced ) Tj ET Q
q 0 0 0 rg BT 461.93 410.75 Td (its ) Tj ET Q
q 0 0 0 rg BT 474.08 410.75 Td (interest ) Tj ET Q
q 0 0 0 rg BT 507.22 410.75 Td (accruals ) Tj ET Q
q 0 0 0 rg BT 543.84 410.75 Td (with ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 398.15 Td (respect ) Tj ET Q
q 0 0 0 rg BT 81.01 398.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 90.96 398.15 Td (unrecognized ) Tj ET Q
q 0 0 0 rg BT 149.30 398.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 163.91 398.15 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 198.93 398.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 211.21 398.15 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 273.63 398.15 Td ($3) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 284.13 398.15 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 288.54 398.15 Td ($139) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 309.54 398.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 313.94 398.15 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 330.89 398.15 Td ($4,441) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 359.76 398.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 364.17 398.15 Td (respectively) Tj ET Q
q 0 0 0 rg BT 414.21 398.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 418.62 398.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 429.15 398.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 435.59 398.15 Td (result ) Tj ET Q
q 0 0 0 rg BT 460.69 398.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 471.22 398.15 Td (favorable ) Tj ET Q
q 0 0 0 rg BT 512.64 398.15 Td (settlements, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 385.55 Td (expiration ) Tj ET Q
q 0 0 0 rg BT 94.32 385.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 105.32 385.55 Td (statutes ) Tj ET Q
q 0 0 0 rg BT 139.07 385.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 150.06 385.55 Td (limitations ) Tj ET Q
q 0 0 0 rg BT 197.23 385.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 214.65 385.55 Td (recalculations. ) Tj ET Q
q 0 0 0 rg BT 277.83 385.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 279.58 385.55 Td (At ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 292.33 385.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 321.99 385.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 337.37 385.55 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 358.37 385.55 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 363.24 385.55 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 384.24 385.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 386.49 385.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 403.90 385.55 Td (2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 424.90 385.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 429.78 385.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 453.61 385.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 484.44 385.55 Td (had ) Tj ET Q
q 0 0 0 rg BT 501.85 385.55 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 372.95 Td ($1,937) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 78.38 372.95 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 82.94 372.95 Td ($2,155) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 111.82 372.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 116.39 372.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 133.49 372.95 Td ($1,900) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 162.37 372.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 166.94 372.95 Td (respectively) Tj ET Q
q 0 0 0 rg BT 216.98 372.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 221.55 372.95 Td (accrued ) Tj ET Q
q 0 0 0 rg BT 256.14 372.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 270.32 372.95 Td (interest ) Tj ET Q
q 0 0 0 rg BT 303.18 372.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 320.28 372.95 Td (penalties ) Tj ET Q
q 0 0 0 rg BT 359.55 372.95 Td (on ) Tj ET Q
q 0 0 0 rg BT 371.99 372.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 386.76 372.95 Td (contingencies ) Tj ET Q
q 0 0 0 rg BT 446.44 372.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 456.55 372.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 471.32 372.95 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 528.68 372.95 Td (Balance ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 360.35 Td (Sheets.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 335.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 73.08 335.15 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 109.66 335.15 Td (prior ) Tj ET Q
q 0 0 0 rg BT 132.08 335.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 152.15 335.15 Td (tax ) Tj ET Q
q 0 0 0 rg BT 166.99 335.15 Td (returns ) Tj ET Q
q 0 0 0 rg BT 198.16 335.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 212.99 335.15 Td (subject ) Tj ET Q
q 0 0 0 rg BT 244.74 335.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 254.92 335.15 Td (examination ) Tj ET Q
q 0 0 0 rg BT 308.83 335.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 321.34 335.15 Td (taxing ) Tj ET Q
q 0 0 0 rg BT 349.59 335.15 Td (authorities ) Tj ET Q
q 0 0 0 rg BT 395.93 335.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 406.10 335.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 420.94 335.15 Td (U.S., ) Tj ET Q
q 0 0 0 rg BT 444.25 335.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 459.09 335.15 Td (U.K., ) Tj ET Q
q 0 0 0 rg BT 484.14 335.15 Td (Brazil, ) Tj ET Q
q 0 0 0 rg BT 514.43 335.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 531.60 335.15 Td (various ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 322.55 Td (other ) Tj ET Q
q 0 0 0 rg BT 75.35 322.55 Td (jurisdictions. ) Tj ET Q
q 0 0 0 rg BT 133.87 322.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 154.47 322.55 Td (following ) Tj ET Q
q 0 0 0 rg BT 199.58 322.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 216.69 322.55 Td (years ) Tj ET Q
q 0 0 0 rg BT 243.12 322.55 Td (remain ) Tj ET Q
q 0 0 0 rg BT 276.55 322.55 Td (open ) Tj ET Q
q 0 0 0 rg BT 301.24 322.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 313.69 322.55 Td (income ) Tj ET Q
q 0 0 0 rg BT 348.87 322.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 365.98 322.55 Td (examination ) Tj ET Q
q 0 0 0 rg BT 422.16 322.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 438.68 322.55 Td (each ) Tj ET Q
q 0 0 0 rg BT 462.19 322.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 475.22 322.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 492.33 322.55 Td (more ) Tj ET Q
q 0 0 0 rg BT 518.18 322.55 Td (significant ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 309.95 Td (jurisdictions ) Tj ET Q
q 0 0 0 rg BT 103.80 309.95 Td (where ) Tj ET Q
q 0 0 0 rg BT 131.83 309.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 155.79 309.95 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 186.76 309.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 196.14 309.95 Td (subject ) Tj ET Q
q 0 0 0 rg BT 228.27 309.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 238.82 309.95 Td (income ) Tj ET Q
q 0 0 0 rg BT 272.11 309.95 Td (taxes: ) Tj ET Q
q 0 0 0 rg BT 298.98 309.95 Td (after ) Tj ET Q
q 0 0 0 rg BT 320.60 309.95 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 345.72 309.95 Td (2016 ) Tj ET Q
q 0 0 0 rg BT 369.10 309.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 383.73 309.95 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 404.79 309.95 Td (federal; ) Tj ET Q
q 0 0 0 rg BT 439.23 309.95 Td (after ) Tj ET Q
q 0 0 0 rg BT 460.84 309.95 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 485.97 309.95 Td (2016 ) Tj ET Q
q 0 0 0 rg BT 509.35 309.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 523.97 309.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 539.19 309.95 Td (U.K.; ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 297.35 Td (after ) Tj ET Q
q 0 0 0 rg BT 71.36 297.35 Td (calendar ) Tj ET Q
q 0 0 0 rg BT 109.55 297.35 Td (year ) Tj ET Q
q 0 0 0 rg BT 130.25 297.35 Td (2008 ) Tj ET Q
q 0 0 0 rg BT 153.88 297.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 168.76 297.35 Td (Brazil; ) Tj ET Q
q 0 0 0 rg BT 199.96 297.35 Td (after ) Tj ET Q
q 0 0 0 rg BT 221.82 297.35 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 247.20 297.35 Td (2013 ) Tj ET Q
q 0 0 0 rg BT 270.83 297.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 285.70 297.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 301.16 297.35 Td (state ) Tj ET Q
q 0 0 0 rg BT 323.03 297.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 334.41 297.35 Td (California; ) Tj ET Q
q 0 0 0 rg BT 382.53 297.35 Td (after ) Tj ET Q
q 0 0 0 rg BT 404.40 297.35 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 429.77 297.35 Td (2008 ) Tj ET Q
q 0 0 0 rg BT 453.40 297.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 468.27 297.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 483.73 297.35 Td (state ) Tj ET Q
q 0 0 0 rg BT 505.60 297.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 516.98 297.35 Td (New ) Tj ET Q
q 0 0 0 rg BT 539.05 297.35 Td (Y) Tj ET Q
q 0 0 0 rg BT 545.58 297.35 Td (ork; ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 284.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.27 284.75 Td (after ) Tj ET Q
q 0 0 0 rg BT 89.11 284.75 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 114.46 284.75 Td (2014 ) Tj ET Q
q 0 0 0 rg BT 138.07 284.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 152.92 284.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 168.35 284.75 Td (states ) Tj ET Q
q 0 0 0 rg BT 194.29 284.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 205.65 284.75 Td (Connecticut ) Tj ET Q
q 0 0 0 rg BT 258.99 284.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 276.76 284.75 Td (Maryland. ) Tj ET Q
q 0 0 0 rg BT 322.63 284.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 341.56 284.75 Td (Company ) Tj ET Q
q 0 0 0 rg BT 385.00 284.75 Td (does ) Tj ET Q
q 0 0 0 rg BT 406.86 284.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 422.88 284.75 Td (anticipate ) Tj ET Q
q 0 0 0 rg BT 466.30 284.75 Td (making ) Tj ET Q
q 0 0 0 rg BT 500.41 284.75 Td (any ) Tj ET Q
q 0 0 0 rg BT 518.18 284.75 Td (significant ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 272.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 70.78 272.15 Td (payments ) Tj ET Q
q 0 0 0 rg BT 113.65 272.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 134.94 272.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 150.40 272.15 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 196.18 272.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 207.55 272.15 Td (these ) Tj ET Q
q 0 0 0 rg BT 231.75 272.15 Td (audits ) Tj ET Q
q 0 0 0 rg BT 259.46 272.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 270.25 272.15 Td (excess ) Tj ET Q
q 0 0 0 rg BT 300.28 272.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 311.65 272.15 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 349.86 272.15 Td (that ) Tj ET Q
q 0 0 0 rg BT 368.23 272.15 Td (have ) Tj ET Q
q 0 0 0 rg BT 390.67 272.15 Td (been ) Tj ET Q
q 0 0 0 rg BT 413.12 272.15 Td (reserved.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 246.95 Td (During ) Tj ET Q
q 0 0 0 rg BT 82.06 246.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 97.70 246.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 118.58 246.95 Td (ended ) Tj ET Q
q 0 0 0 rg BT 146.47 246.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 176.69 246.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 192.62 246.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 219.06 246.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 243.45 246.95 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 274.85 246.95 Td (implemented ) Tj ET Q
q 0 0 0 rg BT 332.48 246.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 339.96 246.95 Td (restructure ) Tj ET Q
q 0 0 0 rg BT 387.66 246.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 399.22 246.95 Td (its ) Tj ET Q
q 0 0 0 rg BT 411.96 246.95 Td (of) Tj ET Q
q 0 0 0 rg BT 420.51 246.95 Td (fshore ) Tj ET Q
q 0 0 0 rg BT 449.57 246.95 Td (holding ) Tj ET Q
q 0 0 0 rg BT 484.47 246.95 Td (company ) Tj ET Q
q 0 0 0 rg BT 525.77 246.95 Td (structure ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 234.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 77.07 234.35 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 112.21 234.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 122.29 234.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 137.02 234.35 Td (repatriation ) Tj ET Q
q 0 0 0 rg BT 187.33 234.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 197.98 234.35 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 260.54 234.35 Td ($1) Tj ET Q
q 0 0 0 rg BT 270.65 234.35 Td (1,600) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.27 234.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 296.18 234.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 306.83 234.35 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 339.06 234.35 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 376.54 234.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 393.61 234.35 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 428.75 234.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 438.83 234.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 445.40 234.35 Td (tax ) Tj ET Q
q 0 0 0 rg BT 460.13 234.35 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 491.19 234.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 501.85 234.35 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 221.75 Td ($17,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 83.63 221.75 Td (. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 196.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.56 196.55 Td (T) Tj ET Q
q 0 0 0 rg BT 74.24 196.55 Td (ax ) Tj ET Q
q 0 0 0 rg BT 87.09 196.55 Td (Law ) Tj ET Q
q 0 0 0 rg BT 108.69 196.55 Td (imposed ) Tj ET Q
q 0 0 0 rg BT 147.22 196.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 154.83 196.55 Td (one-time ) Tj ET Q
q 0 0 0 rg BT 195.09 196.55 Td (tax ) Tj ET Q
q 0 0 0 rg BT 210.86 196.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 224.31 196.55 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 257.57 196.55 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 296.09 196.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 314.78 196.55 Td (were ) Tj ET Q
q 0 0 0 rg BT 338.12 196.55 Td (unremitted ) Tj ET Q
q 0 0 0 rg BT 386.56 196.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 397.08 196.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 412.85 196.55 Td (time ) Tj ET Q
q 0 0 0 rg BT 434.46 196.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 446.15 196.55 Td (enactment. ) Tj ET Q
q 0 0 0 rg BT 494.86 196.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 497.16 196.55 Td (Any ) Tj ET Q
q 0 0 0 rg BT 518.19 196.55 Td (previously ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 183.95 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 98.05 183.95 Td (tax ) Tj ET Q
q 0 0 0 rg BT 113.37 183.95 Td (provision ) Tj ET Q
q 0 0 0 rg BT 155.54 183.95 Td (associated ) Tj ET Q
q 0 0 0 rg BT 201.18 183.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 222.34 183.95 Td (these ) Tj ET Q
q 0 0 0 rg BT 246.41 183.95 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 284.48 183.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 303.30 183.95 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 340.79 183.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 351.45 183.95 Td (reflect ) Tj ET Q
q 0 0 0 rg BT 380.75 183.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 396.08 183.95 Td (impact ) Tj ET Q
q 0 0 0 rg BT 427.14 183.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 438.38 183.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 453.53 183.95 Td (T) Tj ET Q
q 0 0 0 rg BT 459.21 183.95 Td (ax ) Tj ET Q
q 0 0 0 rg BT 471.61 183.95 Td (Law) Tj ET Q
q 0 0 0 rg BT 489.59 183.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 494.71 183.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 497.20 183.95 Td (Despite ) Tj ET Q
q 0 0 0 rg BT 531.77 183.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 546.91 183.95 Td (T) Tj ET Q
q 0 0 0 rg BT 552.59 183.95 Td (ax ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 171.35 Td (Law ) Tj ET Q
q 0 0 0 rg BT 70.89 171.35 Td (changes, ) Tj ET Q
q 0 0 0 rg BT 110.06 171.35 Td (except ) Tj ET Q
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q 0 0 0 rg BT 177.73 171.35 Td (below) Tj ET Q
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q 0 0 0 rg BT 208.06 171.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 232.36 171.35 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 269.66 171.35 Td (continuing ) Tj ET Q
q 0 0 0 rg BT 317.30 171.35 Td (intention ) Tj ET Q
q 0 0 0 rg BT 357.36 171.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 367.09 171.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 377.99 171.35 Td (permanently ) Tj ET Q
q 0 0 0 rg BT 433.20 171.35 Td (reinvest ) Tj ET Q
q 0 0 0 rg BT 469.17 171.35 Td (substantially ) Tj ET Q
q 0 0 0 rg BT 524.98 171.35 Td (all ) Tj ET Q
q 0 0 0 rg BT 538.21 171.35 Td (of ) Tj ET Q
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q 0 0 0 rg BT 53.00 530.59 Td (T) Tj ET Q
q 0 0 0 rg BT 59.04 530.59 Td (otal) Tj ET Q
BT /F2 10.50 Tf ET
BT /F2 6.82 Tf ET
q 0 0 0 rg BT 75.95 535.35 Td (\(1\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 505.00 530.59 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 524.35 530.59 Td (633,195) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 50.00 516.10 Td (\(1\) ) Tj ET Q
q 0 0 0 rg BT 62.04 516.10 Td (Includes ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 92.96 516.10 Td ($550,574) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 124.83 516.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 126.96 516.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 135.69 516.10 Td (real ) Tj ET Q
q 0 0 0 rg BT 150.56 516.10 Td (estate ) Tj ET Q
q 0 0 0 rg BT 172.03 516.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 186.43 516.10 Td (equipment ) Tj ET Q
q 0 0 0 rg BT 224.44 516.10 Td (leases ) Tj ET Q
q 0 0 0 rg BT 246.86 516.10 Td (and ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 261.26 516.10 Td ($82,621) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 288.88 516.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 291.01 516.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 299.74 516.10 Td (service ) Tj ET Q
q 0 0 0 rg BT 325.94 516.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 340.34 516.10 Td (maintenance ) Tj ET Q
q 0 0 0 rg BT 385.41 516.10 Td (agreements.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 503.50 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 490.90 Td (The ) Tj ET Q
q 0 0 0 rg BT 69.31 490.90 Td (minimum ) Tj ET Q
q 0 0 0 rg BT 113.14 490.90 Td (rental ) Tj ET Q
q 0 0 0 rg BT 140.03 490.90 Td (commitments ) Tj ET Q
q 0 0 0 rg BT 200.18 490.90 Td (shown ) Tj ET Q
q 0 0 0 rg BT 230.59 490.90 Td (above ) Tj ET Q
q 0 0 0 rg BT 258.65 490.90 Td (have ) Tj ET Q
q 0 0 0 rg BT 281.45 490.90 Td (not ) Tj ET Q
q 0 0 0 rg BT 297.86 490.90 Td (been ) Tj ET Q
q 0 0 0 rg BT 320.67 490.90 Td (reduced ) Tj ET Q
q 0 0 0 rg BT 356.88 490.90 Td (by ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 370.37 490.90 Td ($1) Tj ET Q
q 0 0 0 rg BT 380.48 490.90 Td (12,507) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.36 490.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 412.35 490.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 427.58 490.90 Td (minimum ) Tj ET Q
q 0 0 0 rg BT 471.40 490.90 Td (sublease ) Tj ET Q
q 0 0 0 rg BT 509.96 490.90 Td (rentals ) Tj ET Q
q 0 0 0 rg BT 540.94 490.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 552.09 490.90 Td (be ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 478.30 Td (received ) Tj ET Q
q 0 0 0 rg BT 87.51 478.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 97.63 478.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 112.41 478.30 Td (future ) Tj ET Q
q 0 0 0 rg BT 139.43 478.30 Td (under ) Tj ET Q
q 0 0 0 rg BT 165.29 478.30 Td (non-cancelable ) Tj ET Q
q 0 0 0 rg BT 230.79 478.30 Td (subleases, ) Tj ET Q
q 0 0 0 rg BT 275.02 478.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 285.72 478.30 Td (which ) Tj ET Q
q 0 0 0 rg BT 313.34 478.30 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 375.94 478.30 Td (35%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 395.18 478.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 397.14 478.30 Td (is ) Tj ET Q
q 0 0 0 rg BT 406.09 478.30 Td (due ) Tj ET Q
q 0 0 0 rg BT 423.21 478.30 Td (from ) Tj ET Q
q 0 0 0 rg BT 445.57 478.30 Td (one ) Tj ET Q
q 0 0 0 rg BT 462.68 478.30 Td (counterparty) Tj ET Q
q 0 0 0 rg BT 515.06 478.30 Td (.��) Tj ET Q
q 0 0 0 rg BT 522.74 478.30 Td (The ) Tj ET Q
q 0 0 0 rg BT 541.02 478.30 Td (lease ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 465.70 Td (reserve ) Tj ET Q
q 0 0 0 rg BT 82.67 465.70 Td (liability) Tj ET Q
q 0 0 0 rg BT 114.65 465.70 Td (, ) Tj ET Q
q 0 0 0 rg BT 119.63 465.70 Td (which ) Tj ET Q
q 0 0 0 rg BT 147.65 465.70 Td (is ) Tj ET Q
q 0 0 0 rg BT 157.00 465.70 Td (included ) Tj ET Q
q 0 0 0 rg BT 195.51 465.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 206.04 465.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 221.22 465.70 Td (table ) Tj ET Q
q 0 0 0 rg BT 243.98 465.70 Td (below) Tj ET Q
q 0 0 0 rg BT 268.96 465.70 Td (, ) Tj ET Q
q 0 0 0 rg BT 273.94 465.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 288.54 465.70 Td (space ) Tj ET Q
q 0 0 0 rg BT 314.21 465.70 Td (subleased ) Tj ET Q
q 0 0 0 rg BT 357.39 465.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 368.49 465.70 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 379.59 465.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 409.35 465.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 424.83 465.70 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 445.83 465.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 448.18 465.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 465.70 465.70 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 491.68 465.70 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 510.36 465.70 Td ($24,188) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.48 465.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 546.84 465.70 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 453.10 Td ($28,821) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 84.13 453.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 88.85 453.10 Td (respectively) Tj ET Q
q 0 0 0 rg BT 138.90 453.10 Td (. ) Tj ET Q
q 0 0 0 rg BT 143.63 453.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 145.73 453.10 Td (If ) Tj ET Q
q 0 0 0 rg BT 154.82 453.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 161.59 453.10 Td (sub-tenant ) Tj ET Q
q 0 0 0 rg BT 207.43 453.10 Td (defaults ) Tj ET Q
q 0 0 0 rg BT 242.77 453.10 Td (on ) Tj ET Q
q 0 0 0 rg BT 255.37 453.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 262.13 453.10 Td (sublease, ) Tj ET Q
q 0 0 0 rg BT 302.43 453.10 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 326.11 453.10 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 356.79 453.10 Td (may ) Tj ET Q
q 0 0 0 rg BT 376.97 453.10 Td (incur ) Tj ET Q
q 0 0 0 rg BT 400.65 453.10 Td (operating ) Tj ET Q
q 0 0 0 rg BT 442.41 453.10 Td (char) Tj ET Q
q 0 0 0 rg BT 460.28 453.10 Td (ges ) Tj ET Q
q 0 0 0 rg BT 476.38 453.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 486.65 453.10 Td (adjust ) Tj ET Q
q 0 0 0 rg BT 513.84 453.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 528.77 453.10 Td (existing ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 440.50 Td (lease ) Tj ET Q
q 0 0 0 rg BT 72.89 440.50 Td (reserve ) Tj ET Q
q 0 0 0 rg BT 105.11 440.50 Td (liability ) Tj ET Q
q 0 0 0 rg BT 139.68 440.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 149.76 440.50 Td (reflect ) Tj ET Q
q 0 0 0 rg BT 178.48 440.50 Td (expected ) Tj ET Q
q 0 0 0 rg BT 217.69 440.50 Td (future ) Tj ET Q
q 0 0 0 rg BT 244.67 440.50 Td (sublease ) Tj ET Q
q 0 0 0 rg BT 282.15 440.50 Td (rentals ) Tj ET Q
q 0 0 0 rg BT 312.05 440.50 Td (at ) Tj ET Q
q 0 0 0 rg BT 321.53 440.50 Td (reduced ) Tj ET Q
q 0 0 0 rg BT 356.67 440.50 Td (amounts, ) Tj ET Q
q 0 0 0 rg BT 396.78 440.50 Td (dependent ) Tj ET Q
q 0 0 0 rg BT 441.84 440.50 Td (on ) Tj ET Q
q 0 0 0 rg BT 454.25 440.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 468.98 440.50 Td (commercial ) Tj ET Q
q 0 0 0 rg BT 520.45 440.50 Td (real ) Tj ET Q
q 0 0 0 rg BT 538.09 440.50 Td (estate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 427.90 Td (market ) Tj ET Q
q 0 0 0 rg BT 81.78 427.90 Td (at ) Tj ET Q
q 0 0 0 rg BT 91.98 427.90 Td (such ) Tj ET Q
q 0 0 0 rg BT 113.85 427.90 Td (time.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 402.70 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.14 402.70 Td (minimum ) Tj ET Q
q 0 0 0 rg BT 110.80 402.70 Td (rental ) Tj ET Q
q 0 0 0 rg BT 136.52 402.70 Td (commitments ) Tj ET Q
q 0 0 0 rg BT 195.50 402.70 Td (shown ) Tj ET Q
q 0 0 0 rg BT 224.73 402.70 Td (above ) Tj ET Q
q 0 0 0 rg BT 251.62 402.70 Td (also ) Tj ET Q
q 0 0 0 rg BT 270.35 402.70 Td (include ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 303.08 402.70 Td ($8,716) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 331.95 402.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 333.77 402.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 347.83 402.70 Td (commitments ) Tj ET Q
q 0 0 0 rg BT 406.81 402.70 Td (related ) Tj ET Q
q 0 0 0 rg BT 437.19 402.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 447.18 402.70 Td (space ) Tj ET Q
q 0 0 0 rg BT 472.31 402.70 Td (that ) Tj ET Q
q 0 0 0 rg BT 489.88 402.70 Td (has ) Tj ET Q
q 0 0 0 rg BT 505.69 402.70 Td (been ) Tj ET Q
q 0 0 0 rg BT 527.33 402.70 Td (vacated, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 390.10 Td (but ) Tj ET Q
q 0 0 0 rg BT 65.97 390.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 80.77 390.10 Td (which ) Tj ET Q
q 0 0 0 rg BT 108.99 390.10 Td (subleases ) Tj ET Q
q 0 0 0 rg BT 151.20 390.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 166.58 390.10 Td (being ) Tj ET Q
q 0 0 0 rg BT 192.46 390.10 Td (pursued. ) Tj ET Q
q 0 0 0 rg BT 230.88 390.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 233.26 390.10 Td (The ) Tj ET Q
q 0 0 0 rg BT 252.14 390.10 Td (related ) Tj ET Q
q 0 0 0 rg BT 283.26 390.10 Td (lease ) Tj ET Q
q 0 0 0 rg BT 306.80 390.10 Td (reserve ) Tj ET Q
q 0 0 0 rg BT 339.66 390.10 Td (liability) Tj ET Q
q 0 0 0 rg BT 371.65 390.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 376.83 390.10 Td (also ) Tj ET Q
q 0 0 0 rg BT 396.30 390.10 Td (included ) Tj ET Q
q 0 0 0 rg BT 435.01 390.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 445.73 390.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 461.12 390.10 Td (table ) Tj ET Q
q 0 0 0 rg BT 484.08 390.10 Td (below) Tj ET Q
q 0 0 0 rg BT 509.06 390.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 514.24 390.10 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.13 390.10 Td ($5,061) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 377.50 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 67.53 377.50 Td ($10,867) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 101.65 377.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 104.02 377.50 Td (as ) Tj ET Q
q 0 0 0 rg BT 115.13 377.50 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 126.25 377.50 Td (March ) Tj ET Q
q 0 0 0 rg BT 156.02 377.50 Td (31, ) Tj ET Q
q 0 0 0 rg BT 171.51 377.50 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 192.51 377.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 194.88 377.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 212.41 377.50 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 238.40 377.50 Td (respectively) Tj ET Q
q 0 0 0 rg BT 288.45 377.50 Td (, ) Tj ET Q
q 0 0 0 rg BT 293.44 377.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 310.97 377.50 Td (remains ) Tj ET Q
q 0 0 0 rg BT 346.57 377.50 Td (subject ) Tj ET Q
q 0 0 0 rg BT 378.68 377.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 389.22 377.50 Td (adjustment ) Tj ET Q
q 0 0 0 rg BT 437.66 377.50 Td (based ) Tj ET Q
q 0 0 0 rg BT 463.94 377.50 Td (on ) Tj ET Q
q 0 0 0 rg BT 476.80 377.50 Td (circumstances ) Tj ET Q
q 0 0 0 rg BT 538.65 377.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 549.18 377.50 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 364.90 Td (real ) Tj ET Q
q 0 0 0 rg BT 68.84 364.90 Td (estate ) Tj ET Q
q 0 0 0 rg BT 95.85 364.90 Td (markets ) Tj ET Q
q 0 0 0 rg BT 132.19 364.90 Td (that ) Tj ET Q
q 0 0 0 rg BT 151.05 364.90 Td (may ) Tj ET Q
q 0 0 0 rg BT 172.23 364.90 Td (require ) Tj ET Q
q 0 0 0 rg BT 205.07 364.90 Td (a ) Tj ET Q
q 0 0 0 rg BT 212.83 364.90 Td (change ) Tj ET Q
q 0 0 0 rg BT 245.67 364.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 256.94 364.90 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 311.97 364.90 Td (or ) Tj ET Q
q 0 0 0 rg BT 323.82 364.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 339.76 364.90 Td (actual ) Tj ET Q
q 0 0 0 rg BT 367.93 364.90 Td (terms ) Tj ET Q
q 0 0 0 rg BT 394.36 364.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 406.21 364.90 Td (a ) Tj ET Q
q 0 0 0 rg BT 413.98 364.90 Td (sublease ) Tj ET Q
q 0 0 0 rg BT 452.66 364.90 Td (that ) Tj ET Q
q 0 0 0 rg BT 471.51 364.90 Td (is ) Tj ET Q
q 0 0 0 rg BT 481.62 364.90 Td (ultimately ) Tj ET Q
q 0 0 0 rg BT 527.30 364.90 Td (secured. ) Tj ET Q
q 0 0 0 rg BT 564.62 364.90 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 352.30 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.88 352.30 Td (lease ) Tj ET Q
q 0 0 0 rg BT 92.42 352.30 Td (reserve ) Tj ET Q
q 0 0 0 rg BT 125.29 352.30 Td (liability ) Tj ET Q
q 0 0 0 rg BT 160.51 352.30 Td (takes ) Tj ET Q
q 0 0 0 rg BT 184.64 352.30 Td (into ) Tj ET Q
q 0 0 0 rg BT 203.53 352.30 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 262.65 352.30 Td (various ) Tj ET Q
q 0 0 0 rg BT 296.11 352.30 Td (assumptions, ) Tj ET Q
q 0 0 0 rg BT 353.22 352.30 Td (including ) Tj ET Q
q 0 0 0 rg BT 395.43 352.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 410.82 352.30 Td (expected ) Tj ET Q
q 0 0 0 rg BT 450.68 352.30 Td (amount ) Tj ET Q
q 0 0 0 rg BT 484.73 352.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 496.03 352.30 Td (time ) Tj ET Q
q 0 0 0 rg BT 517.25 352.30 Td (it ) Tj ET Q
q 0 0 0 rg BT 525.64 352.30 Td (will ) Tj ET Q
q 0 0 0 rg BT 544.53 352.30 Td (take ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 339.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.79 339.70 Td (secure ) Tj ET Q
q 0 0 0 rg BT 90.23 339.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 97.52 339.70 Td (sublease ) Tj ET Q
q 0 0 0 rg BT 135.72 339.70 Td (agreement ) Tj ET Q
q 0 0 0 rg BT 182.06 339.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 199.85 339.70 Td (prevailing ) Tj ET Q
q 0 0 0 rg BT 245.05 339.70 Td (rental ) Tj ET Q
q 0 0 0 rg BT 271.57 339.70 Td (rates ) Tj ET Q
q 0 0 0 rg BT 294.02 339.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 304.81 339.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 320.27 339.70 Td (applicable ) Tj ET Q
q 0 0 0 rg BT 366.04 339.70 Td (real ) Tj ET Q
q 0 0 0 rg BT 384.40 339.70 Td (estate ) Tj ET Q
q 0 0 0 rg BT 410.92 339.70 Td (markets. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 314.50 Td (During ) Tj ET Q
q 0 0 0 rg BT 82.86 314.50 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 108.72 314.50 Td (2016 ) Tj ET Q
q 0 0 0 rg BT 132.83 314.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 151.11 314.50 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 176.96 314.50 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 203.71 314.50 Td (certain ) Tj ET Q
q 0 0 0 rg BT 235.38 314.50 Td (of) Tj ET Q
q 0 0 0 rg BT 243.94 314.50 Td (fice ) Tj ET Q
q 0 0 0 rg BT 262.79 314.50 Td (space ) Tj ET Q
q 0 0 0 rg BT 289.23 314.50 Td (was ) Tj ET Q
q 0 0 0 rg BT 308.67 314.50 Td (permanently ) Tj ET Q
q 0 0 0 rg BT 364.27 314.50 Td (vacated ) Tj ET Q
q 0 0 0 rg BT 399.45 314.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 410.73 314.50 Td (connection ) Tj ET Q
q 0 0 0 rg BT 459.91 314.50 Td (with ) Tj ET Q
q 0 0 0 rg BT 481.69 314.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 497.64 314.50 Td (combination ) Tj ET Q
q 0 0 0 rg BT 553.25 314.50 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 301.90 Td (EnT) Tj ET Q
q 0 0 0 rg BT 67.71 301.90 Td (rust ) Tj ET Q
q 0 0 0 rg BT 85.94 301.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 103.58 301.90 Td (Permal. ) Tj ET Q
q 0 0 0 rg BT 138.43 301.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 140.91 301.90 Td (During ) Tj ET Q
q 0 0 0 rg BT 173.14 301.90 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 198.36 301.90 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 224.47 301.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 239.78 301.90 Td (lease ) Tj ET Q
q 0 0 0 rg BT 263.25 301.90 Td (related ) Tj ET Q
q 0 0 0 rg BT 294.29 301.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 304.94 301.90 Td (a ) Tj ET Q
q 0 0 0 rg BT 312.08 301.90 Td (portion ) Tj ET Q
q 0 0 0 rg BT 344.90 301.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 356.12 301.90 Td (this ) Tj ET Q
q 0 0 0 rg BT 373.78 301.90 Td (space ) Tj ET Q
q 0 0 0 rg BT 399.58 301.90 Td (was ) Tj ET Q
q 0 0 0 rg BT 418.39 301.90 Td (terminated, ) Tj ET Q
q 0 0 0 rg BT 468.39 301.90 Td (resulting ) Tj ET Q
q 0 0 0 rg BT 507.62 301.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 518.27 301.90 Td (reductions ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 289.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.88 289.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 76.43 289.30 Td (lease ) Tj ET Q
q 0 0 0 rg BT 100.13 289.30 Td (reserve ) Tj ET Q
q 0 0 0 rg BT 133.16 289.30 Td (liability ) Tj ET Q
q 0 0 0 rg BT 168.54 289.30 Td (totaling ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 203.34 289.30 Td ($4,495) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 232.22 289.30 Td (. ) Tj ET Q
q 0 0 0 rg BT 237.56 289.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 239.68 289.30 Td (Also ) Tj ET Q
q 0 0 0 rg BT 262.23 289.30 Td (during ) Tj ET Q
q 0 0 0 rg BT 292.36 289.30 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 317.82 289.30 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 344.16 289.30 Td (a ) Tj ET Q
q 0 0 0 rg BT 351.54 289.30 Td (sublease ) Tj ET Q
q 0 0 0 rg BT 389.83 289.30 Td (was ) Tj ET Q
q 0 0 0 rg BT 408.88 289.30 Td (executed ) Tj ET Q
q 0 0 0 rg BT 448.90 289.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 463.86 289.30 Td (headquarters ) Tj ET Q
q 0 0 0 rg BT 520.22 289.30 Td (space ) Tj ET Q
q 0 0 0 rg BT 546.26 289.30 Td (that ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 276.70 Td (had ) Tj ET Q
q 0 0 0 rg BT 67.86 276.70 Td (been ) Tj ET Q
q 0 0 0 rg BT 90.39 276.70 Td (vacated ) Tj ET Q
q 0 0 0 rg BT 125.15 276.70 Td (during ) Tj ET Q
q 0 0 0 rg BT 155.26 276.70 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 180.71 276.70 Td (2016, ) Tj ET Q
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q 0 0 0 rg BT 338.29 646.55 Td (based ) Tj ET Q
q 0 0 0 rg BT 365.66 646.55 Td (upon ) Tj ET Q
q 0 0 0 rg BT 390.12 646.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 406.42 646.55 Td (aggregate ) Tj ET Q
q 0 0 0 rg BT 450.69 646.55 Td (lease ) Tj ET Q
q 0 0 0 rg BT 475.14 646.55 Td (payments. ) Tj ET Q
q 0 0 0 rg BT 521.22 646.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 541.01 646.55 Td (lease ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 633.95 Td (period ) Tj ET Q
q 0 0 0 rg BT 79.76 633.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 89.69 633.95 Td (determined ) Tj ET Q
q 0 0 0 rg BT 139.85 633.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 151.53 633.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 167.29 633.95 Td (original ) Tj ET Q
q 0 0 0 rg BT 202.88 633.95 Td (lease ) Tj ET Q
q 0 0 0 rg BT 226.80 633.95 Td (term ) Tj ET Q
q 0 0 0 rg BT 248.97 633.95 Td (without ) Tj ET Q
q 0 0 0 rg BT 283.99 633.95 Td (renewals, ) Tj ET Q
q 0 0 0 rg BT 326.86 633.95 Td (unless ) Tj ET Q
q 0 0 0 rg BT 356.04 633.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 374.13 633.95 Td (until ) Tj ET Q
q 0 0 0 rg BT 396.32 633.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 412.08 633.95 Td (exercise ) Tj ET Q
q 0 0 0 rg BT 449.40 633.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 461.08 633.95 Td (lease ) Tj ET Q
q 0 0 0 rg BT 485.00 633.95 Td (renewal ) Tj ET Q
q 0 0 0 rg BT 521.16 633.95 Td (options ) Tj ET Q
q 0 0 0 rg BT 555.01 633.95 Td (is ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 621.35 Td (reasonably ) Tj ET Q
q 0 0 0 rg BT 97.43 621.35 Td (assured, ) Tj ET Q
q 0 0 0 rg BT 133.49 621.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 150.60 621.35 Td (also ) Tj ET Q
q 0 0 0 rg BT 169.46 621.35 Td (includes ) Tj ET Q
q 0 0 0 rg BT 206.40 621.35 Td (any ) Tj ET Q
q 0 0 0 rg BT 223.50 621.35 Td (periods ) Tj ET Q
q 0 0 0 rg BT 256.36 621.35 Td (provided ) Tj ET Q
q 0 0 0 rg BT 295.63 621.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 308.07 621.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 322.85 621.35 Td (landlord ) Tj ET Q
q 0 0 0 rg BT 359.79 621.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 370.48 621.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 377.09 621.35 Td ("free ) Tj ET Q
q 0 0 0 rg BT 399.63 621.35 Td (rent" ) Tj ET Q
q 0 0 0 rg BT 422.19 621.35 Td (period. ) Tj ET Q
q 0 0 0 rg BT 453.16 621.35 Td (Aggregate ) Tj ET Q
q 0 0 0 rg BT 498.83 621.35 Td (lease ) Tj ET Q
q 0 0 0 rg BT 521.76 621.35 Td (payments ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 608.75 Td (include ) Tj ET Q
q 0 0 0 rg BT 84.41 608.75 Td (all ) Tj ET Q
q 0 0 0 rg BT 98.41 608.75 Td (rental ) Tj ET Q
q 0 0 0 rg BT 125.81 608.75 Td (payments ) Tj ET Q
q 0 0 0 rg BT 169.56 608.75 Td (specified ) Tj ET Q
q 0 0 0 rg BT 210.96 608.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 222.63 608.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 238.96 608.75 Td (contract, ) Tj ET Q
q 0 0 0 rg BT 278.90 608.75 Td (including ) Tj ET Q
q 0 0 0 rg BT 322.06 608.75 Td (contractual ) Tj ET Q
q 0 0 0 rg BT 372.21 608.75 Td (rent ) Tj ET Q
q 0 0 0 rg BT 392.03 608.75 Td (increases, ) Tj ET Q
q 0 0 0 rg BT 436.64 608.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 455.30 608.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 471.62 608.75 Td (reduced ) Tj ET Q
q 0 0 0 rg BT 508.35 608.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 522.35 608.75 Td (any ) Tj ET Q
q 0 0 0 rg BT 541.02 608.75 Td (lease ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 596.15 Td (incentives ) Tj ET Q
q 0 0 0 rg BT 95.20 596.15 Td (received ) Tj ET Q
q 0 0 0 rg BT 133.38 596.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 156.41 596.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 171.87 596.15 Td (landlord, ) Tj ET Q
q 0 0 0 rg BT 212.11 596.15 Td (including ) Tj ET Q
q 0 0 0 rg BT 254.40 596.15 Td (those ) Tj ET Q
q 0 0 0 rg BT 279.19 596.15 Td (used ) Tj ET Q
q 0 0 0 rg BT 301.06 596.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 315.93 596.15 Td (tenant ) Tj ET Q
q 0 0 0 rg BT 344.21 596.15 Td (improvements.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 570.95 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.22 570.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 73.52 570.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 102.47 570.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 117.15 570.95 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 138.15 570.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 142.32 570.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 165.45 570.95 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 195.58 570.95 Td (had ) Tj ET Q
q 0 0 0 rg BT 212.30 570.95 Td (commitments ) Tj ET Q
q 0 0 0 rg BT 271.01 570.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 280.73 570.95 Td (invest ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 307.36 570.95 Td ($44,846) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 341.48 570.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 343.04 570.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 352.75 570.95 Td (limited ) Tj ET Q
q 0 0 0 rg BT 384.05 570.95 Td (partnerships ) Tj ET Q
q 0 0 0 rg BT 436.93 570.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 454.22 570.95 Td (make ) Tj ET Q
q 0 0 0 rg BT 478.51 570.95 Td (private ) Tj ET Q
q 0 0 0 rg BT 509.22 570.95 Td (investments. ) Tj ET Q
q 0 0 0 rg BT 564.63 570.95 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 558.35 Td (These ) Tj ET Q
q 0 0 0 rg BT 77.92 558.35 Td (commitments ) Tj ET Q
q 0 0 0 rg BT 137.93 558.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 153.59 558.35 Td (expected ) Tj ET Q
q 0 0 0 rg BT 193.75 558.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 204.76 558.35 Td (be ) Tj ET Q
q 0 0 0 rg BT 217.52 558.35 Td (outstanding, ) Tj ET Q
q 0 0 0 rg BT 271.99 558.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 283.58 558.35 Td (funded ) Tj ET Q
q 0 0 0 rg BT 315.59 558.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 327.18 558.35 Td (required, ) Tj ET Q
q 0 0 0 rg BT 367.64 558.35 Td (through ) Tj ET Q
q 0 0 0 rg BT 403.15 558.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 418.82 558.35 Td (end ) Tj ET Q
q 0 0 0 rg BT 436.83 558.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 448.42 558.35 Td (their ) Tj ET Q
q 0 0 0 rg BT 470.51 558.35 Td (respective ) Tj ET Q
q 0 0 0 rg BT 515.92 558.35 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 545.75 Td (periods ) Tj ET Q
q 0 0 0 rg BT 83.50 545.75 Td (ranging ) Tj ET Q
q 0 0 0 rg BT 118.16 545.75 Td (through ) Tj ET Q
q 0 0 0 rg BT 153.41 545.75 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 178.73 545.75 Td (2030. ) Tj ET Q
q 0 0 0 rg BT 204.94 545.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 206.96 545.75 Td (Also, ) Tj ET Q
q 0 0 0 rg BT 232.00 545.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 242.76 545.75 Td (connection ) Tj ET Q
q 0 0 0 rg BT 291.41 545.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 312.66 545.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 328.08 545.75 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 376.74 545.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 388.07 545.75 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 422.15 545.75 Td (Partners, ) Tj ET Q
q 0 0 0 rg BT 461.77 545.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 485.93 545.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 517.10 545.75 Td (committed ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 533.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.54 533.15 Td (provide ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 94.99 533.15 Td ($100,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 134.37 533.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 136.74 533.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 147.86 533.15 Td (seed ) Tj ET Q
q 0 0 0 rg BT 168.90 533.15 Td (capital ) Tj ET Q
q 0 0 0 rg BT 199.26 533.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 209.80 533.15 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 243.67 533.15 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 280.45 533.15 Td (products. ) Tj ET Q
q 0 0 0 rg BT 321.61 533.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 345.56 533.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 376.52 533.15 Td (also ) Tj ET Q
q 0 0 0 rg BT 395.81 533.15 Td (committed ) Tj ET Q
q 0 0 0 rg BT 443.09 533.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 453.64 533.15 Td (contribute ) Tj ET Q
q 0 0 0 rg BT 498.58 533.15 Td (up ) Tj ET Q
q 0 0 0 rg BT 511.46 533.15 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 522.00 533.15 Td ($5,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 550.88 533.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 553.25 533.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 520.55 Td (additional ) Tj ET Q
q 0 0 0 rg BT 93.85 520.55 Td (working ) Tj ET Q
q 0 0 0 rg BT 130.71 520.55 Td (capital ) Tj ET Q
q 0 0 0 rg BT 160.56 520.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 170.59 520.55 Td (Financial ) Tj ET Q
q 0 0 0 rg BT 211.52 520.55 Td (Guard, ) Tj ET Q
q 0 0 0 rg BT 242.25 520.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 252.28 520.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 264.05 520.55 Td (paid ) Tj ET Q
q 0 0 0 rg BT 283.99 520.55 Td (over ) Tj ET Q
q 0 0 0 rg BT 304.51 520.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 319.20 520.55 Td (two-year ) Tj ET Q
q 0 0 0 rg BT 358.37 520.55 Td (period ) Tj ET Q
q 0 0 0 rg BT 387.06 520.55 Td (following ) Tj ET Q
q 0 0 0 rg BT 429.75 520.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 444.44 520.55 Td (acquisition, ) Tj ET Q
q 0 0 0 rg BT 495.00 520.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 505.61 520.55 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.14 520.55 Td ($2,500) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 507.95 Td (has ) Tj ET Q
q 0 0 0 rg BT 66.62 507.95 Td (been ) Tj ET Q
q 0 0 0 rg BT 89.07 507.95 Td (paid ) Tj ET Q
q 0 0 0 rg BT 109.77 507.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 121.14 507.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 132.52 507.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 162.54 507.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 178.29 507.95 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 199.29 507.95 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 482.75 Td (As ) Tj ET Q
q 0 0 0 rg BT 66.29 482.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 79.67 482.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 111.69 482.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 129.44 482.75 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 150.44 482.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 157.69 482.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 183.89 482.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 217.10 482.75 Td (had ) Tj ET Q
q 0 0 0 rg BT 236.89 482.75 Td (various ) Tj ET Q
q 0 0 0 rg BT 272.42 482.75 Td (commitments ) Tj ET Q
q 0 0 0 rg BT 334.21 482.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 347.00 482.75 Td (pay ) Tj ET Q
q 0 0 0 rg BT 366.79 482.75 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 415.73 482.75 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 476.93 482.75 Td (relating ) Tj ET Q
q 0 0 0 rg BT 513.62 482.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 526.41 482.75 Td (business ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 470.15 Td (acquisitions. ) Tj ET Q
q 0 0 0 rg BT 105.22 470.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 107.48 470.15 Td (The ) Tj ET Q
q 0 0 0 rg BT 126.24 470.15 Td (following ) Tj ET Q
q 0 0 0 rg BT 169.50 470.15 Td (table ) Tj ET Q
q 0 0 0 rg BT 192.34 470.15 Td (presents ) Tj ET Q
q 0 0 0 rg BT 229.18 470.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 236.27 470.15 Td (summary ) Tj ET Q
q 0 0 0 rg BT 277.79 470.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 288.96 470.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 304.23 470.15 Td (maximum ) Tj ET Q
q 0 0 0 rg BT 349.24 470.15 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 394.24 470.15 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 441.00 470.15 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 500.00 470.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 517.59 470.15 Td (changes ) Tj ET Q
q 0 0 0 rg BT 553.84 470.15 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 457.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.39 457.55 Td (contingent ) Tj ET Q
q 0 0 0 rg BT 110.28 457.55 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 168.41 457.55 Td (liability ) Tj ET Q
q 0 0 0 rg BT 202.63 457.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 216.44 457.55 Td (each ) Tj ET Q
q 0 0 0 rg BT 237.23 457.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 247.54 457.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 270.68 457.55 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 306.81 457.55 Td (recent ) Tj ET Q
q 0 0 0 rg BT 334.01 457.55 Td (acquisitions. ) Tj ET Q
q 0 0 0 rg BT 388.37 457.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 389.93 457.55 Td (See ) Tj ET Q
q 0 0 0 rg BT 406.65 457.55 Td (Note ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 428.63 457.55 Td (2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 433.88 457.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 435.44 457.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 449.24 457.55 Td (additional ) Tj ET Q
q 0 0 0 rg BT 492.80 457.55 Td (details ) Tj ET Q
q 0 0 0 rg BT 521.77 457.55 Td (regarding ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 444.95 Td (each ) Tj ET Q
q 0 0 0 rg BT 71.86 444.95 Td (significant ) Tj ET Q
q 0 0 0 rg BT 118.81 444.95 Td (acquisition. ) Tj ET Q
q 0 0 0 rg BT 170.13 444.95 Td ( ) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 408.45 185.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
234.50 408.45 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
238.50 408.45 67.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
305.50 408.45 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
309.50 408.45 59.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.50 408.45 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
372.50 408.45 58.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
430.50 408.45 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.50 408.45 58.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
492.50 408.45 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
496.50 408.45 65.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 357.45 185.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
234.50 357.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
238.50 357.45 67.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
305.50 357.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
309.50 357.45 59.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.50 357.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
372.50 357.45 58.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
430.50 357.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.50 357.45 58.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
492.50 357.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
496.50 357.45 65.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 327.45 185.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
234.50 327.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
238.50 327.45 67.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
305.50 327.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
309.50 327.45 59.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.50 327.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
372.50 327.45 58.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
430.50 327.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.50 327.45 58.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
492.50 327.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
496.50 327.45 65.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 297.45 185.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
234.50 297.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
238.50 297.45 67.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
305.50 297.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
309.50 297.45 59.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.50 297.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
372.50 297.45 58.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
430.50 297.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.50 297.45 58.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
492.50 297.45 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
496.50 297.45 65.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 267.45 185.00 -15.00 re f
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 550.68 678.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 553.27 678.75 Td (In ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 666.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.43 666.15 Td (normal ) Tj ET Q
q 0 0 0 rg BT 97.78 666.15 Td (course ) Tj ET Q
q 0 0 0 rg BT 127.79 666.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 139.15 666.15 Td (its ) Tj ET Q
q 0 0 0 rg BT 151.67 666.15 Td (business, ) Tj ET Q
q 0 0 0 rg BT 192.49 666.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 216.67 666.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 247.86 666.15 Td (has ) Tj ET Q
q 0 0 0 rg BT 264.46 666.15 Td (also ) Tj ET Q
q 0 0 0 rg BT 283.98 666.15 Td (received ) Tj ET Q
q 0 0 0 rg BT 322.15 666.15 Td (subpoenas ) Tj ET Q
q 0 0 0 rg BT 368.50 666.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 386.26 666.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 395.87 666.15 Td (currently ) Tj ET Q
q 0 0 0 rg BT 436.38 666.15 Td (involved ) Tj ET Q
q 0 0 0 rg BT 475.73 666.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 486.50 666.15 Td (governmental ) Tj ET Q
q 0 0 0 rg BT 546.84 666.15 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 653.55 Td (industry ) Tj ET Q
q 0 0 0 rg BT 87.26 653.55 Td (self-regulatory ) Tj ET Q
q 0 0 0 rg BT 151.92 653.55 Td (agency ) Tj ET Q
q 0 0 0 rg BT 184.49 653.55 Td (inquiries, ) Tj ET Q
q 0 0 0 rg BT 226.71 653.55 Td (investigations ) Tj ET Q
q 0 0 0 rg BT 287.89 653.55 Td (and, ) Tj ET Q
q 0 0 0 rg BT 308.52 653.55 Td (from ) Tj ET Q
q 0 0 0 rg BT 331.78 653.55 Td (time ) Tj ET Q
q 0 0 0 rg BT 353.28 653.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 364.30 653.55 Td (time, ) Tj ET Q
q 0 0 0 rg BT 388.43 653.55 Td (proceedings ) Tj ET Q
q 0 0 0 rg BT 442.01 653.55 Td (involving ) Tj ET Q
q 0 0 0 rg BT 485.11 653.55 Td (asset ) Tj ET Q
q 0 0 0 rg BT 508.37 653.55 Td (management ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 640.95 Td (activities. ) Tj ET Q
q 0 0 0 rg BT 94.61 640.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 98.69 640.95 Td (In ) Tj ET Q
q 0 0 0 rg BT 111.52 640.95 Td (accordance ) Tj ET Q
q 0 0 0 rg BT 162.81 640.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 185.56 640.95 Td (guidance ) Tj ET Q
q 0 0 0 rg BT 227.54 640.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 243.87 640.95 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 294.02 640.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 310.34 640.95 Td (contingencies, ) Tj ET Q
q 0 0 0 rg BT 374.78 640.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 400.44 640.95 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 433.10 640.95 Td (has ) Tj ET Q
q 0 0 0 rg BT 451.18 640.95 Td (established ) Tj ET Q
q 0 0 0 rg BT 501.92 640.95 Td (provisions ) Tj ET Q
q 0 0 0 rg BT 549.75 640.95 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 628.35 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 92.81 628.35 Td (losses ) Tj ET Q
q 0 0 0 rg BT 120.47 628.35 Td (from ) Tj ET Q
q 0 0 0 rg BT 143.45 628.35 Td (pending ) Tj ET Q
q 0 0 0 rg BT 179.84 628.35 Td (complaints, ) Tj ET Q
q 0 0 0 rg BT 231.12 628.35 Td (legal ) Tj ET Q
q 0 0 0 rg BT 254.09 628.35 Td (actions, ) Tj ET Q
q 0 0 0 rg BT 289.03 628.35 Td (investigations ) Tj ET Q
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q 0 0 0 rg BT 367.66 628.35 Td (proceedings ) Tj ET Q
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q 0 0 0 rg BT 446.28 628.35 Td (it ) Tj ET Q
q 0 0 0 rg BT 454.68 628.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 464.26 628.35 Td (probable ) Tj ET Q
q 0 0 0 rg BT 503.56 628.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 521.88 628.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 529.11 628.35 Td (loss ) Tj ET Q
q 0 0 0 rg BT 548.02 628.35 Td (has ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 615.75 Td (been ) Tj ET Q
q 0 0 0 rg BT 72.45 615.75 Td (incurred ) Tj ET Q
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q 0 0 0 rg BT 231.63 615.75 Td (loss ) Tj ET Q
q 0 0 0 rg BT 250.59 615.75 Td (can ) Tj ET Q
q 0 0 0 rg BT 267.79 615.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 280.32 615.75 Td (made.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 590.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 74.71 590.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 106.44 590.55 Td (cannot ) Tj ET Q
q 0 0 0 rg BT 137.57 590.55 Td (estimate ) Tj ET Q
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q 0 0 0 rg BT 297.33 590.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 309.21 590.55 Td (range ) Tj ET Q
q 0 0 0 rg BT 335.67 590.55 Td (of ) Tj ET Q
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q 0 0 0 rg BT 469.18 590.55 Td (of ) Tj ET Q
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q 0 0 0 rg BT 522.13 590.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 540.43 590.55 Td (other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 577.95 Td (proceedings, ) Tj ET Q
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q 0 0 0 rg BT 278.00 577.95 Td (customer ) Tj ET Q
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q 0 0 0 rg BT 443.82 577.95 Td (inquiries, ) Tj ET Q
q 0 0 0 rg BT 489.65 577.95 Td (proceedings ) Tj ET Q
q 0 0 0 rg BT 546.84 577.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 565.35 Td (investigations. ) Tj ET Q
q 0 0 0 rg BT 113.53 565.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 115.91 565.35 Td (The ) Tj ET Q
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q 0 0 0 rg BT 172.38 565.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 183.12 565.35 Td (provide ) Tj ET Q
q 0 0 0 rg BT 217.76 565.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 225.00 565.35 Td (reasonably ) Tj ET Q
q 0 0 0 rg BT 273.05 565.35 Td (possible ) Tj ET Q
q 0 0 0 rg BT 310.04 565.35 Td (amount ) Tj ET Q
q 0 0 0 rg BT 344.11 565.35 Td (or ) Tj ET Q
q 0 0 0 rg BT 355.42 565.35 Td (range ) Tj ET Q
q 0 0 0 rg BT 381.31 565.35 Td (of ) Tj ET Q
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q 0 0 0 rg BT 445.85 565.35 Td (because ) Tj ET Q
q 0 0 0 rg BT 481.65 565.35 Td (there ) Tj ET Q
q 0 0 0 rg BT 505.21 565.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 514.79 565.35 Td (uncertainty ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 552.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 61.17 552.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 71.76 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 87.01 552.75 Td (ultimate ) Tj ET Q
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q 0 0 0 rg BT 162.42 552.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 173.59 552.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 180.67 552.75 Td (matter) Tj ET Q
q 0 0 0 rg BT 207.07 552.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 212.12 552.75 Td (but ) Tj ET Q
q 0 0 0 rg BT 227.96 552.75 Td (because ) Tj ET Q
q 0 0 0 rg BT 263.61 552.75 Td (liability ) Tj ET Q
q 0 0 0 rg BT 298.70 552.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 316.28 552.75 Td (damage ) Tj ET Q
q 0 0 0 rg BT 351.35 552.75 Td (issues ) Tj ET Q
q 0 0 0 rg BT 378.86 552.75 Td (have ) Tj ET Q
q 0 0 0 rg BT 401.11 552.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 416.95 552.75 Td (developed ) Tj ET Q
q 0 0 0 rg BT 462.52 552.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 473.11 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 488.36 552.75 Td (point ) Tj ET Q
q 0 0 0 rg BT 512.37 552.75 Td (where ) Tj ET Q
q 0 0 0 rg BT 540.44 552.75 Td (Legg ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 540.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 80.65 540.15 Td (can ) Tj ET Q
q 0 0 0 rg BT 97.29 540.15 Td (conclude ) Tj ET Q
q 0 0 0 rg BT 137.26 540.15 Td (that ) Tj ET Q
q 0 0 0 rg BT 155.07 540.15 Td (there ) Tj ET Q
q 0 0 0 rg BT 178.12 540.15 Td (is ) Tj ET Q
q 0 0 0 rg BT 187.19 540.15 Td (both ) Tj ET Q
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q 0 0 0 rg BT 214.66 540.15 Td (reasonable ) Tj ET Q
q 0 0 0 rg BT 261.62 540.15 Td (possibility ) Tj ET Q
q 0 0 0 rg BT 307.44 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 318.26 540.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 324.99 540.15 Td (loss ) Tj ET Q
q 0 0 0 rg BT 343.39 540.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 360.62 540.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 367.35 540.15 Td (meaningful ) Tj ET Q
q 0 0 0 rg BT 417.24 540.15 Td (amount ) Tj ET Q
q 0 0 0 rg BT 450.80 540.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 461.61 540.15 Td (range ) Tj ET Q
q 0 0 0 rg BT 487.00 540.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 497.81 540.15 Td (possible ) Tj ET Q
q 0 0 0 rg BT 534.30 540.15 Td (losses. ) Tj ET Q
q 0 0 0 rg BT 564.64 540.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 527.55 Td (There ) Tj ET Q
q 0 0 0 rg BT 77.63 527.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 93.59 527.55 Td (numerous ) Tj ET Q
q 0 0 0 rg BT 138.14 527.55 Td (aspects ) Tj ET Q
q 0 0 0 rg BT 171.61 527.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 182.92 527.55 Td (customer ) Tj ET Q
q 0 0 0 rg BT 224.55 527.55 Td (complaints, ) Tj ET Q
q 0 0 0 rg BT 276.40 527.55 Td (legal ) Tj ET Q
q 0 0 0 rg BT 299.95 527.55 Td (actions, ) Tj ET Q
q 0 0 0 rg BT 335.46 527.55 Td (inquiries, ) Tj ET Q
q 0 0 0 rg BT 377.98 527.55 Td (proceedings ) Tj ET Q
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q 0 0 0 rg BT 450.16 527.55 Td (investigations ) Tj ET Q
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q 0 0 0 rg BT 530.52 527.55 Td (prevent ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 514.95 Td (Legg ) Tj ET Q
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q 0 0 0 rg BT 181.66 514.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 212.76 514.95 Td (amount ) Tj ET Q
q 0 0 0 rg BT 246.79 514.95 Td (or ) Tj ET Q
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q 0 0 0 rg BT 283.93 514.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 295.21 514.95 Td (reasonably ) Tj ET Q
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q 0 0 0 rg BT 380.19 514.95 Td (losses. ) Tj ET Q
q 0 0 0 rg BT 410.43 514.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 412.79 514.95 Td (These ) Tj ET Q
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q 0 0 0 rg BT 473.25 514.95 Td (include, ) Tj ET Q
q 0 0 0 rg BT 509.32 514.95 Td (among ) Tj ET Q
q 0 0 0 rg BT 540.44 514.95 Td (other ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 502.35 Td (things, ) Tj ET Q
q 0 0 0 rg BT 79.99 502.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 94.51 502.35 Td (nature ) Tj ET Q
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q 0 0 0 rg BT 147.41 502.35 Td (matters; ) Tj ET Q
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q 0 0 0 rg BT 200.36 502.35 Td (significant ) Tj ET Q
q 0 0 0 rg BT 246.38 502.35 Td (relevant ) Tj ET Q
q 0 0 0 rg BT 281.89 502.35 Td (facts ) Tj ET Q
q 0 0 0 rg BT 303.41 502.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 317.92 502.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 333.03 502.35 Td (known, ) Tj ET Q
q 0 0 0 rg BT 365.93 502.35 Td (are ) Tj ET Q
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q 0 0 0 rg BT 525.26 502.35 Td (damages ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 489.75 Td (sought ) Tj ET Q
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q 0 0 0 rg BT 343.76 489.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 346.24 489.75 Td (In ) Tj ET Q
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q 0 0 0 rg BT 533.29 489.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 549.19 489.75 Td (yet ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 477.15 Td (have ) Tj ET Q
q 0 0 0 rg BT 72.01 477.15 Td (started, ) Tj ET Q
q 0 0 0 rg BT 104.81 477.15 Td (may ) Tj ET Q
q 0 0 0 rg BT 125.07 477.15 Td (not ) Tj ET Q
q 0 0 0 rg BT 140.68 477.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 152.77 477.15 Td (complete ) Tj ET Q
q 0 0 0 rg BT 193.45 477.15 Td (or ) Tj ET Q
q 0 0 0 rg BT 204.38 477.15 Td (may ) Tj ET Q
q 0 0 0 rg BT 224.64 477.15 Td (not ) Tj ET Q
q 0 0 0 rg BT 240.25 477.15 Td (be ) Tj ET Q
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q 0 0 0 rg BT 319.41 477.15 Td (meaningful ) Tj ET Q
q 0 0 0 rg BT 369.41 477.15 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 414.76 477.15 Td (discussions ) Tj ET Q
q 0 0 0 rg BT 464.78 477.15 Td (may ) Tj ET Q
q 0 0 0 rg BT 485.05 477.15 Td (not ) Tj ET Q
q 0 0 0 rg BT 500.65 477.15 Td (have ) Tj ET Q
q 0 0 0 rg BT 522.66 477.15 Td (occurred. ) Tj ET Q
q 0 0 0 rg BT 564.63 477.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 464.55 Td (Further) Tj ET Q
q 0 0 0 rg BT 80.49 464.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 85.27 464.55 Td (for ) Tj ET Q
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q 0 0 0 rg BT 241.12 464.55 Td (may ) Tj ET Q
q 0 0 0 rg BT 261.35 464.55 Td (run ) Tj ET Q
q 0 0 0 rg BT 277.49 464.55 Td (their ) Tj ET Q
q 0 0 0 rg BT 298.88 464.55 Td (course ) Tj ET Q
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q 0 0 0 rg BT 362.67 464.55 Td (any ) Tj ET Q
q 0 0 0 rg BT 379.98 464.55 Td (clear ) Tj ET Q
q 0 0 0 rg BT 402.53 464.55 Td (indication ) Tj ET Q
q 0 0 0 rg BT 446.67 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 457.56 464.55 Td (wrongdoing ) Tj ET Q
q 0 0 0 rg BT 510.46 464.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 521.36 464.55 Td (fault ) Tj ET Q
q 0 0 0 rg BT 542.75 464.55 Td (until ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 451.95 Td (their ) Tj ET Q
q 0 0 0 rg BT 71.87 451.95 Td (conclusion.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 426.75 Td (In ) Tj ET Q
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q 0 0 0 rg BT 123.17 426.75 Td (opinion, ) Tj ET Q
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q 0 0 0 rg BT 172.59 426.75 Td (adequate ) Tj ET Q
q 0 0 0 rg BT 212.30 426.75 Td (accrual ) Tj ET Q
q 0 0 0 rg BT 245.00 426.75 Td (has ) Tj ET Q
q 0 0 0 rg BT 261.40 426.75 Td (been ) Tj ET Q
q 0 0 0 rg BT 283.62 426.75 Td (made ) Tj ET Q
q 0 0 0 rg BT 308.76 426.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 319.91 426.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 331.05 426.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 360.86 426.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 376.38 426.75 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 397.38 426.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 402.40 426.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 412.97 426.75 Td (provide ) Tj ET Q
q 0 0 0 rg BT 447.45 426.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 462.09 426.75 Td (any ) Tj ET Q
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q 0 0 0 rg BT 546.27 426.75 Td (that ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 414.15 Td (may ) Tj ET Q
q 0 0 0 rg BT 70.92 414.15 Td (arise ) Tj ET Q
q 0 0 0 rg BT 93.58 414.15 Td (from ) Tj ET Q
q 0 0 0 rg BT 116.82 414.15 Td (matters ) Tj ET Q
q 0 0 0 rg BT 150.57 414.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 165.65 414.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 194.15 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 209.81 414.15 Td (Company ) Tj ET Q
q 0 0 0 rg BT 253.48 414.15 Td (could ) Tj ET Q
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q 0 0 0 rg BT 327.97 414.15 Td (estimate ) Tj ET Q
q 0 0 0 rg BT 365.80 414.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 378.55 414.15 Td (amount. ) Tj ET Q
q 0 0 0 rg BT 415.50 414.15 Td ( ) Tj ET Q
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q 0 0 0 rg BT 442.75 414.15 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 480.15 414.15 Td (financial ) Tj ET Q
q 0 0 0 rg BT 519.72 414.15 Td (condition, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 401.55 Td (results ) Tj ET Q
q 0 0 0 rg BT 79.76 401.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 90.85 401.55 Td (operations ) Tj ET Q
q 0 0 0 rg BT 136.93 401.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 154.44 401.55 Td (cash ) Tj ET Q
q 0 0 0 rg BT 175.44 401.55 Td (flows ) Tj ET Q
q 0 0 0 rg BT 201.12 401.55 Td (could ) Tj ET Q
q 0 0 0 rg BT 226.79 401.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 239.05 401.55 Td (materially ) Tj ET Q
q 0 0 0 rg BT 283.96 401.55 Td (af) Tj ET Q
q 0 0 0 rg BT 291.92 401.55 Td (fected ) Tj ET Q
q 0 0 0 rg BT 319.91 401.55 Td (during ) Tj ET Q
q 0 0 0 rg BT 349.67 401.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 356.68 401.55 Td (period ) Tj ET Q
q 0 0 0 rg BT 385.85 401.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 396.36 401.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 424.36 401.55 Td (probable ) Tj ET Q
q 0 0 0 rg BT 463.44 401.55 Td (losses ) Tj ET Q
q 0 0 0 rg BT 490.87 401.55 Td (become ) Tj ET Q
q 0 0 0 rg BT 525.87 401.55 Td (apparent ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 388.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 61.71 388.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 69.32 388.95 Td (matter ) Tj ET Q
q 0 0 0 rg BT 99.10 388.95 Td (is ) Tj ET Q
q 0 0 0 rg BT 109.07 388.95 Td (ultimately ) Tj ET Q
q 0 0 0 rg BT 154.60 388.95 Td (resolved. ) Tj ET Q
q 0 0 0 rg BT 195.76 388.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 198.71 388.95 Td (In ) Tj ET Q
q 0 0 0 rg BT 210.42 388.95 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 250.42 388.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 266.20 388.95 Td (ultimate ) Tj ET Q
q 0 0 0 rg BT 303.57 388.95 Td (costs ) Tj ET Q
q 0 0 0 rg BT 327.53 388.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 339.23 388.95 Td (litigation-related ) Tj ET Q
q 0 0 0 rg BT 412.17 388.95 Td (char) Tj ET Q
q 0 0 0 rg BT 430.05 388.95 Td (ges ) Tj ET Q
q 0 0 0 rg BT 447.00 388.95 Td (can ) Tj ET Q
q 0 0 0 rg BT 464.53 388.95 Td (vary ) Tj ET Q
q 0 0 0 rg BT 486.15 388.95 Td (significantly ) Tj ET Q
q 0 0 0 rg BT 541.60 388.95 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 376.35 Td (period-to-period, ) Tj ET Q
q 0 0 0 rg BT 123.93 376.35 Td (depending ) Tj ET Q
q 0 0 0 rg BT 170.17 376.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 183.16 376.35 Td (factors ) Tj ET Q
q 0 0 0 rg BT 214.22 376.35 Td (such ) Tj ET Q
q 0 0 0 rg BT 235.97 376.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 247.21 376.35 Td (market ) Tj ET Q
q 0 0 0 rg BT 278.86 376.35 Td (conditions, ) Tj ET Q
q 0 0 0 rg BT 327.73 376.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 343.05 376.35 Td (size ) Tj ET Q
q 0 0 0 rg BT 361.87 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 379.53 376.35 Td (volume ) Tj ET Q
q 0 0 0 rg BT 413.52 376.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 424.76 376.35 Td (customer ) Tj ET Q
q 0 0 0 rg BT 465.75 376.35 Td (complaints ) Tj ET Q
q 0 0 0 rg BT 514.32 376.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 531.98 376.35 Td (claims, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 363.75 Td (including ) Tj ET Q
q 0 0 0 rg BT 92.44 363.75 Td (class ) Tj ET Q
q 0 0 0 rg BT 115.63 363.75 Td (action ) Tj ET Q
q 0 0 0 rg BT 144.07 363.75 Td (suits, ) Tj ET Q
q 0 0 0 rg BT 168.73 363.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 186.67 363.75 Td (recoveries ) Tj ET Q
q 0 0 0 rg BT 232.59 363.75 Td (from ) Tj ET Q
q 0 0 0 rg BT 255.78 363.75 Td (indemnification, ) Tj ET Q
q 0 0 0 rg BT 327.66 363.75 Td (contribution, ) Tj ET Q
q 0 0 0 rg BT 384.39 363.75 Td (insurance ) Tj ET Q
q 0 0 0 rg BT 427.41 363.75 Td (reimbursement, ) Tj ET Q
q 0 0 0 rg BT 495.79 363.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 507.32 363.75 Td (reductions ) Tj ET Q
q 0 0 0 rg BT 553.83 363.75 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 351.15 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 110.95 351.15 Td (under ) Tj ET Q
q 0 0 0 rg BT 137.48 351.15 Td (revenue ) Tj ET Q
q 0 0 0 rg BT 173.33 351.15 Td (share ) Tj ET Q
q 0 0 0 rg BT 198.11 351.15 Td (arrangements.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 325.95 Td (See ) Tj ET Q
q 0 0 0 rg BT 67.23 325.95 Td (Note ) Tj ET Q
q 0 0 0 rg BT 89.71 325.95 Td (18, ) Tj ET Q
q 0 0 0 rg BT 104.91 325.95 Td (Subsequent ) Tj ET Q
q 0 0 0 rg BT 155.39 325.95 Td (Event, ) Tj ET Q
q 0 0 0 rg BT 184.58 325.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 198.89 325.95 Td (discussion ) Tj ET Q
q 0 0 0 rg BT 244.72 325.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 255.53 325.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 262.26 325.95 Td (regulatory ) Tj ET Q
q 0 0 0 rg BT 307.48 325.95 Td (matter) Tj ET Q
q 0 0 0 rg BT 333.72 325.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 338.42 325.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 340.49 325.95 Td (For ) Tj ET Q
q 0 0 0 rg BT 357.14 325.95 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 381.95 325.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 407.65 325.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 431.29 325.95 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 461.95 325.95 Td (accrued ) Tj ET Q
q 0 0 0 rg BT 496.66 325.95 Td (an ) Tj ET Q
q 0 0 0 rg BT 508.64 325.95 Td (other ) Tj ET Q
q 0 0 0 rg BT 532.28 325.95 Td (current ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 313.35 Td (liability ) Tj ET Q
q 0 0 0 rg BT 85.29 313.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 100.16 313.35 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 107.44 313.35 Td ($67,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 141.57 313.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 144.19 313.35 Td (operating ) Tj ET Q
q 0 0 0 rg BT 186.47 313.35 Td (char) Tj ET Q
q 0 0 0 rg BT 204.35 313.35 Td (ge ) Tj ET Q
q 0 0 0 rg BT 216.89 313.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 231.75 313.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 247.21 313.35 Td (related ) Tj ET Q
q 0 0 0 rg BT 278.40 313.35 Td (probable ) Tj ET Q
q 0 0 0 rg BT 317.76 313.35 Td (loss.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 288.15 Td (As ) Tj ET Q
q 0 0 0 rg BT 64.47 288.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 76.01 288.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 106.21 288.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 122.13 288.15 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 145.93 288.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 163.89 288.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 190.31 288.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 214.68 288.15 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 252.04 288.15 Td (liability ) Tj ET Q
q 0 0 0 rg BT 287.50 288.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 302.54 288.15 Td (losses ) Tj ET Q
q 0 0 0 rg BT 330.43 288.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 348.38 288.15 Td (contingencies ) Tj ET Q
q 0 0 0 rg BT 408.91 288.15 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 428.04 288.15 Td ($67,225) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 462.16 288.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 464.96 288.15 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 482.92 288.15 Td ($700) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 503.92 288.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 509.34 288.15 Td (respectively) Tj ET Q
q 0 0 0 rg BT 559.39 288.15 Td (. ) Tj ET Q
q 0 0 0 rg BT 564.64 288.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 275.55 Td (During ) Tj ET Q
q 0 0 0 rg BT 84.88 275.55 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 112.75 275.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 141.50 275.55 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 170.26 275.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 190.55 275.55 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 219.31 275.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 246.01 275.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 279.73 275.55 Td (incurred ) Tj ET Q
q 0 0 0 rg BT 319.84 275.55 Td (char) Tj ET Q
q 0 0 0 rg BT 337.72 275.55 Td (ges ) Tj ET Q
q 0 0 0 rg BT 356.85 275.55 Td (relating ) Tj ET Q
q 0 0 0 rg BT 394.05 275.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 407.35 275.55 Td (litigation ) Tj ET Q
q 0 0 0 rg BT 450.39 275.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 470.68 275.55 Td (other ) Tj ET Q
q 0 0 0 rg BT 497.39 275.55 Td (proceedings ) Tj ET Q
q 0 0 0 rg BT 553.25 275.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 262.95 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 113.27 262.95 Td ($67,500) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 147.40 262.95 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 152.65 262.95 Td ($1,100) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 181.52 262.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 186.77 262.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 204.56 262.95 Td ($250) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 225.56 262.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 230.81 262.95 Td (respectively) Tj ET Q
q 0 0 0 rg BT 280.86 262.95 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 237.75 Td (As ) Tj ET Q
q 0 0 0 rg BT 64.24 237.75 Td (further ) Tj ET Q
q 0 0 0 rg BT 95.38 237.75 Td (described ) Tj ET Q
q 0 0 0 rg BT 138.18 237.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 148.92 237.75 Td (Note ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 171.90 237.75 Td (2) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 177.15 237.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 182.34 237.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 206.49 237.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 237.64 237.75 Td (may ) Tj ET Q
q 0 0 0 rg BT 258.29 237.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 270.77 237.75 Td (obligated ) Tj ET Q
q 0 0 0 rg BT 312.41 237.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 323.15 237.75 Td (settle ) Tj ET Q
q 0 0 0 rg BT 347.88 237.75 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 412.28 237.75 Td (interests ) Tj ET Q
q 0 0 0 rg BT 449.84 237.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 480.97 237.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 491.71 237.75 Td (certain ) Tj ET Q
q 0 0 0 rg BT 522.84 237.75 Td (af) Tj ET Q
q 0 0 0 rg BT 530.81 237.75 Td (filiates. ) Tj ET Q
q 0 0 0 rg BT 564.64 237.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 567.26 237.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 569.89 237.75 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 225.15 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.74 225.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 74.56 225.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 104.03 225.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 119.23 225.15 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 140.23 225.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 144.93 225.15 Td (af) Tj ET Q
q 0 0 0 rg BT 152.89 225.15 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 179.45 225.15 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 243.35 225.15 Td (interests, ) Tj ET Q
q 0 0 0 rg BT 283.04 225.15 Td (excluding ) Tj ET Q
q 0 0 0 rg BT 326.52 225.15 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 364.17 225.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 394.81 225.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 405.05 225.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 460.76 225.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 489.08 225.15 Td (plans, ) Tj ET Q
q 0 0 0 rg BT 515.94 225.15 Td (aggregated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 212.55 Td ($573,950) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 89.38 212.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 94.78 212.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 97.56 212.55 Td (In ) Tj ET Q
q 0 0 0 rg BT 109.08 212.55 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 148.90 212.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 160.43 212.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 171.95 212.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 202.13 212.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 218.04 212.55 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 239.04 212.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 244.44 212.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 260.05 212.55 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 303.07 212.55 Td (redemption ) Tj ET Q
q 0 0 0 rg BT 353.67 212.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 379.18 212.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 394.20 212.55 Td (units ) Tj ET Q
q 0 0 0 rg BT 417.40 212.55 Td (under ) Tj ET Q
q 0 0 0 rg BT 444.09 212.55 Td (af) Tj ET Q
q 0 0 0 rg BT 452.06 212.55 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 479.33 212.55 Td (management ) Tj ET Q
q 0 0 0 rg BT 535.75 212.55 Td (equity ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 199.95 Td (plans ) Tj ET Q
q 0 0 0 rg BT 74.39 199.95 Td (aggregated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 122.68 199.95 Td ($89,428) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 156.80 199.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 161.66 199.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 163.89 199.95 Td (See ) Tj ET Q
q 0 0 0 rg BT 181.28 199.95 Td (Notes ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 208.00 199.95 Td (1) Tj ET Q
q 0 0 0 rg BT 212.86 199.95 Td (1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 218.11 199.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 220.34 199.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 237.73 199.95 Td (14) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 248.23 199.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 250.46 199.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 264.93 199.95 Td (additional ) Tj ET Q
q 0 0 0 rg BT 309.15 199.95 Td (information ) Tj ET Q
q 0 0 0 rg BT 360.96 199.95 Td (regarding ) Tj ET Q
q 0 0 0 rg BT 403.42 199.95 Td (af) Tj ET Q
q 0 0 0 rg BT 411.39 199.95 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 438.10 199.95 Td (management ) Tj ET Q
q 0 0 0 rg BT 493.98 199.95 Td (equity ) Tj ET Q
q 0 0 0 rg BT 522.45 199.95 Td (plans ) Tj ET Q
q 0 0 0 rg BT 546.84 199.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 187.35 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 114.45 187.35 Td (interests, ) Tj ET Q
q 0 0 0 rg BT 154.70 187.35 Td (respectively) Tj ET Q
q 0 0 0 rg BT 204.74 187.35 Td (. ) Tj ET Q
q 0 0 0 rg BT 209.99 187.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 212.62 187.35 Td ( ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 49.50 162.15 Td (9) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 54.75 162.15 Td (. ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 60.00 162.15 Td (EMPLOYEE BENEFITS) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 174.65 162.15 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 136.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 74.22 136.95 Td (Mason, ) Tj ET Q
q 0 0 0 rg BT 108.57 136.95 Td (through ) Tj ET Q
q 0 0 0 rg BT 144.38 136.95 Td (its ) Tj ET Q
q 0 0 0 rg BT 157.44 136.95 Td (subsidiaries, ) Tj ET Q
q 0 0 0 rg BT 212.79 136.95 Td (maintains ) Tj ET Q
q 0 0 0 rg BT 256.77 136.95 Td (various ) Tj ET Q
q 0 0 0 rg BT 290.82 136.95 Td (defined ) Tj ET Q
q 0 0 0 rg BT 325.45 136.95 Td (contribution ) Tj ET Q
q 0 0 0 rg BT 379.92 136.95 Td (plans ) Tj ET Q
q 0 0 0 rg BT 405.23 136.95 Td (covering ) Tj ET Q
q 0 0 0 rg BT 445.11 136.95 Td (substantially ) Tj ET Q
q 0 0 0 rg BT 501.33 136.95 Td (all ) Tj ET Q
q 0 0 0 rg BT 514.97 136.95 Td (employees. ) Tj ET Q
q 0 0 0 rg BT 565.13 136.95 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 124.35 Td (Through ) Tj ET Q
q 0 0 0 rg BT 88.37 124.35 Td (these ) Tj ET Q
q 0 0 0 rg BT 112.65 124.35 Td (plans, ) Tj ET Q
q 0 0 0 rg BT 140.15 124.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 164.44 124.35 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 195.73 124.35 Td (can ) Tj ET Q
q 0 0 0 rg BT 213.01 124.35 Td (make ) Tj ET Q
q 0 0 0 rg BT 238.46 124.35 Td (two ) Tj ET Q
q 0 0 0 rg BT 256.92 124.35 Td (types ) Tj ET Q
q 0 0 0 rg BT 281.79 124.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 293.25 124.35 Td (discretionary ) Tj ET Q
q 0 0 0 rg BT 350.77 124.35 Td (contributions. ) Tj ET Q
q 0 0 0 rg BT 411.52 124.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 414.23 124.35 Td (One ) Tj ET Q
q 0 0 0 rg BT 434.43 124.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 444.15 124.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 451.52 124.35 Td (profit ) Tj ET Q
q 0 0 0 rg BT 477.56 124.35 Td (sharing ) Tj ET Q
q 0 0 0 rg BT 511.18 124.35 Td (contribution ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 111.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.45 111.75 Td (eligible ) Tj ET Q
q 0 0 0 rg BT 94.73 111.75 Td (plan ) Tj ET Q
q 0 0 0 rg BT 115.59 111.75 Td (participants ) Tj ET Q
q 0 0 0 rg BT 167.36 111.75 Td (based ) Tj ET Q
q 0 0 0 rg BT 194.06 111.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 207.34 111.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 214.79 111.75 Td (percentage ) Tj ET Q
q 0 0 0 rg BT 263.04 111.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 274.57 111.75 Td (qualified ) Tj ET Q
q 0 0 0 rg BT 314.68 111.75 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 375.78 111.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 393.73 111.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 409.34 111.75 Td (other ) Tj ET Q
q 0 0 0 rg BT 433.70 111.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 443.49 111.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 450.94 111.75 Td (match ) Tj ET Q
q 0 0 0 rg BT 479.38 111.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 490.91 111.75 Td (employee ) Tj ET Q
q 0 0 0 rg BT 534.51 111.75 Td (401\(k\) ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 99.15 Td (contributions. ) Tj ET Q
q 0 0 0 rg BT 110.01 99.15 Td (Matches ) Tj ET Q
q 0 0 0 rg BT 148.05 99.15 Td (range ) Tj ET Q
q 0 0 0 rg BT 173.83 99.15 Td (from ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 196.71 99.15 Td (50%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 215.96 99.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 218.42 99.15 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 229.06 99.15 Td (100%) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 156.95 528.15 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 177.95 528.15 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 183.46 528.15 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 204.46 528.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 209.96 528.15 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 228.00 528.15 Td (2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 249.00 528.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 254.50 528.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 278.96 528.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 310.42 528.15 Td (purchased ) Tj ET Q
q 0 0 0 rg BT 355.86 528.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 373.90 528.15 Td (retired ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 404.18 528.15 Td (6,636) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 427.81 528.15 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 433.31 528.15 Td (1) Tj ET Q
q 0 0 0 rg BT 438.17 528.15 Td (1,697) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 461.80 528.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 467.30 528.15 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 485.34 528.15 Td (4,537) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 508.97 528.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 511.84 528.15 Td (shares ) Tj ET Q
q 0 0 0 rg BT 540.96 528.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 552.59 528.15 Td (its ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 515.55 Td (common ) Tj ET Q
q 0 0 0 rg BT 87.84 515.55 Td (stock, ) Tj ET Q
q 0 0 0 rg BT 114.22 515.55 Td (respectively) Tj ET Q
q 0 0 0 rg BT 164.27 515.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 168.49 515.55 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 182.33 515.55 Td ($253,649) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 221.70 515.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 225.92 515.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 227.52 515.55 Td ($381,672) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 266.89 515.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 271.11 515.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 287.87 515.55 Td ($209,632) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 327.24 515.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 331.46 515.55 Td (respectively) Tj ET Q
q 0 0 0 rg BT 381.51 515.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 385.73 515.55 Td (through ) Tj ET Q
q 0 0 0 rg BT 419.99 515.55 Td (open ) Tj ET Q
q 0 0 0 rg BT 441.99 515.55 Td (market ) Tj ET Q
q 0 0 0 rg BT 472.74 515.55 Td (purchases, ) Tj ET Q
q 0 0 0 rg BT 518.36 515.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 535.12 515.55 Td (retired ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 502.95 Td (348) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 65.25 502.95 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 69.93 502.95 Td (370) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 85.68 502.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 90.36 502.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 107.58 502.95 Td (412) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.33 502.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 125.39 502.95 Td (shares, ) Tj ET Q
q 0 0 0 rg BT 156.31 502.95 Td (respectively) Tj ET Q
q 0 0 0 rg BT 206.35 502.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 211.03 502.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 221.84 502.95 Td (its ) Tj ET Q
q 0 0 0 rg BT 233.81 502.95 Td (common ) Tj ET Q
q 0 0 0 rg BT 272.62 502.95 Td (stock ) Tj ET Q
q 0 0 0 rg BT 296.84 502.95 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 311.14 502.95 Td ($13,233) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.26 502.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 349.94 502.95 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 355.19 502.95 Td (12,139) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 384.07 502.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 388.75 502.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 405.97 502.95 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 411.22 502.95 Td (21,637) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.09 502.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 444.77 502.95 Td (respectively) Tj ET Q
q 0 0 0 rg BT 494.82 502.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 499.50 502.95 Td (under ) Tj ET Q
q 0 0 0 rg BT 525.46 502.95 Td (net ) Tj ET Q
q 0 0 0 rg BT 540.35 502.95 Td (share ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 490.35 Td (settlements ) Tj ET Q
q 0 0 0 rg BT 99.37 490.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 110.74 490.35 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 148.34 490.35 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 209.28 490.35 Td (award ) Tj ET Q
q 0 0 0 rg BT 237.56 490.35 Td (vesting.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 465.15 Td (Changes ) Tj ET Q
q 0 0 0 rg BT 88.29 465.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 99.08 465.15 Td (common ) Tj ET Q
q 0 0 0 rg BT 138.45 465.15 Td (stock ) Tj ET Q
q 0 0 0 rg BT 163.24 465.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 178.11 465.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 193.56 465.15 Td (years ) Tj ET Q
q 0 0 0 rg BT 218.34 465.15 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 246.04 465.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 276.06 465.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 291.81 465.15 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 312.81 465.15 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 318.06 465.15 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 339.06 465.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 341.69 465.15 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 359.48 465.15 Td (2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 380.48 465.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 385.73 465.15 Td (respectively) Tj ET Q
q 0 0 0 rg BT 435.77 465.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 441.02 465.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 456.46 465.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 467.84 465.15 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 424.65 320.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.00 424.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 424.65 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.00 424.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 424.65 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 424.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 424.65 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 394.65 320.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.00 394.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 394.65 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.00 394.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 394.65 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 394.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 394.65 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 364.65 320.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.00 364.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 364.65 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.00 364.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 364.65 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 364.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 364.65 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 334.65 320.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.00 334.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 334.65 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.00 334.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 334.65 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 334.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 334.65 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 304.65 320.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.00 304.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 304.65 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
434.00 304.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 304.65 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 304.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.00 304.65 60.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 424.65 m
370 424.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 424.65 m
434 424.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 424.65 m
498 424.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 424.65 m
562 424.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 424.65 m
370 424.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 424.65 m
434 424.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 424.65 m
498 424.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 424.65 m
562 424.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 304.65 m
434 304.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 304.65 m
498 304.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 304.65 m
562 304.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 304.65 m
370 304.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 289.65 m
370 289.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 304.65 m
434 304.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
374 289.65 m
434 289.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 304.65 m
498 304.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
438 289.65 m
498 289.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 304.65 m
562 304.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
502 289.65 m
562 289.65 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 418.15 444.42 Td (Y) Tj ET Q
q 0 0 0 rg BT 424.68 444.42 Td (ears Ended March 31,) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 393.00 429.44 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 457.00 429.42 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 521.00 429.42 Td (2016) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 52.50 414.44 Td (COMMON ST) Tj ET Q
q 0 0 0 rg BT 119.10 414.44 Td (OCK) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 399.42 Td (Beginning balance) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 401.10 399.44 Td (95,727) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 459.85 399.42 Td (107,012) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.85 399.42 Td (1) Tj ET Q
q 0 0 0 rg BT 529.10 399.42 Td (1) Tj ET Q
q 0 0 0 rg BT 534.35 399.42 Td (1,469) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 384.42 Td (Shares issued for:) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 369.42 Td (Stock option exercises) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 414.25 369.44 Td (472) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 478.25 369.42 Td (321) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.25 369.42 Td (338) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 354.42 Td (Deferred compensation employee stock trust) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 419.50 354.44 Td (1) Tj ET Q
q 0 0 0 rg BT 424.75 354.44 Td (1) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 483.50 354.42 Td (16) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 547.50 354.42 Td (12) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 58.50 339.42 Td (Stock-based compensation) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 414.25 339.44 Td (948) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 478.25 339.42 Td (445) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 542.25 339.42 Td (142) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 324.42 Td (Shares repurchased and retired) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 397.60 324.44 Td (\(12,204) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 430.00 324.44 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 461.60 324.42 Td (\(1) Tj ET Q
q 0 0 0 rg BT 470.35 324.42 Td (1,697) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.00 324.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.85 324.42 Td (\(4,537) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 324.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 309.42 Td (Employee tax withholding by settlement of net share transactions) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 410.75 309.44 Td (\(348) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 430.00 309.44 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 474.75 309.42 Td (\(370) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.00 309.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 538.75 309.42 Td (\(412) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 309.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 294.42 Td (Ending balance) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 401.10 294.44 Td (84,606) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 465.10 294.42 Td (95,727) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.85 294.42 Td (107,012) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 264.95 Td (Dividends ) Tj ET Q
q 0 0 0 rg BT 94.76 264.95 Td (declared ) Tj ET Q
q 0 0 0 rg BT 132.42 264.95 Td (per ) Tj ET Q
q 0 0 0 rg BT 147.92 264.95 Td (share ) Tj ET Q
q 0 0 0 rg BT 172.18 264.95 Td (were ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 194.67 264.95 Td ($1.12) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 218.30 264.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 223.02 264.95 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 225.12 264.95 Td ($0.88) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 248.75 264.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 250.84 264.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 268.10 264.95 Td ($0.80) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 291.73 264.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 293.83 264.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 308.17 264.95 Td (fiscal ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 333.00 264.95 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 354.00 264.95 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 358.73 264.95 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 379.73 264.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 381.83 264.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 399.08 264.95 Td (2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 420.08 264.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 424.81 264.95 Td (respectively) Tj ET Q
q 0 0 0 rg BT 474.85 264.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 479.58 264.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 481.68 264.95 Td (Dividends ) Tj ET Q
q 0 0 0 rg BT 526.94 264.95 Td (declared ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 252.35 Td (but ) Tj ET Q
q 0 0 0 rg BT 65.14 252.35 Td (not ) Tj ET Q
q 0 0 0 rg BT 80.79 252.35 Td (paid ) Tj ET Q
q 0 0 0 rg BT 101.09 252.35 Td (at ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 110.89 252.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 140.52 252.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 155.87 252.35 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 176.87 252.35 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 181.72 252.35 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 65.00 600.10 Td (2018:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 553.60 290.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
340.50 553.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
344.50 553.60 108.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
452.50 553.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
456.50 553.60 106.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 523.60 290.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
340.50 523.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
344.50 523.60 108.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
452.50 523.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
456.50 523.60 106.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 493.60 290.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
340.50 493.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
344.50 493.60 108.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
452.50 493.60 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
456.50 493.60 106.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 553.6 m
340.5 553.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
344.5 553.6 m
452.5 553.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
456.5 553.6 m
562.5 553.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
344.5 553.6 m
452.5 553.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
456.5 553.6 m
562.5 553.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
344.5 493.6 m
452.5 493.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 493.6 m
340.5 493.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 478.6 m
340.5 478.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
344.5 478.6 m
452.5 478.6 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 380.75 568.87 Td (Number) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 378.30 558.37 Td (of Shares) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 469.85 579.37 Td (W) Tj ET Q
q 0 0 0 rg BT 478.92 579.37 Td (eighted-A) Tj ET Q
q 0 0 0 rg BT 520.13 579.37 Td (verage) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 485.80 568.87 Td (Grant Date) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 487.35 558.37 Td (Fair ) Tj ET Q
q 0 0 0 rg BT 506.70 558.37 Td (V) Tj ET Q
q 0 0 0 rg BT 513.12 558.37 Td (alue) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 543.37 Td (Options unvested at March 31, 2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 424.85 543.37 Td (1,905) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 459.00 543.37 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.85 543.37 Td (42.54) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 528.37 Td (Granted) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 432.75 528.37 Td (440) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.85 528.37 Td (37.79) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 513.37 Td (V) Tj ET Q
q 0 0 0 rg BT 60.00 513.37 Td (ested) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 429.25 513.37 Td (\(737) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.50 513.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.85 513.37 Td (43.27) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 498.37 Td (Canceled/forfeited) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 434.50 498.37 Td (\(38) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.50 498.37 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.85 498.37 Td (43.23) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 53.00 483.39 Td (Options unvested at Mar) Tj ET Q
q 0 0 0 rg BT 164.52 483.39 Td (ch 31, 2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 424.85 483.39 Td (1,570) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 459.00 483.39 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 534.85 483.39 Td (40.87) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 450.90 Td (For ) Tj ET Q
q 0 0 0 rg BT 66.86 450.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 81.96 450.90 Td (years ) Tj ET Q
q 0 0 0 rg BT 106.39 450.90 Td (ended ) Tj ET Q
q 0 0 0 rg BT 133.73 450.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 163.41 450.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 178.80 450.90 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 204.70 450.90 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 230.60 450.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 248.03 450.90 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 273.93 450.90 Td (income ) Tj ET Q
q 0 0 0 rg BT 307.11 450.90 Td (tax ) Tj ET Q
q 0 0 0 rg BT 322.21 450.90 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 357.72 450.90 Td (related ) Tj ET Q
q 0 0 0 rg BT 388.56 450.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 399.00 450.90 Td (stock ) Tj ET Q
q 0 0 0 rg BT 423.43 450.90 Td (options ) Tj ET Q
q 0 0 0 rg BT 456.63 450.90 Td (were ) Tj ET Q
q 0 0 0 rg BT 479.30 450.90 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 484.55 450.90 Td (2,715) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 508.18 450.90 Td (, ) Tj ET Q
q 0 0 0 rg BT 513.07 450.90 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 518.32 450.90 Td (3,178) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 541.95 450.90 Td (, ) Tj ET Q
q 0 0 0 rg BT 546.85 450.90 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 438.30 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 55.25 438.30 Td (3,730) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 78.88 438.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 84.01 438.30 Td (respectively) Tj ET Q
q 0 0 0 rg BT 134.05 438.30 Td (. ) Tj ET Q
q 0 0 0 rg BT 139.19 438.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 141.70 438.30 Td (Unamortized ) Tj ET Q
q 0 0 0 rg BT 199.02 438.30 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 259.85 438.30 Td (cost ) Tj ET Q
q 0 0 0 rg BT 279.27 438.30 Td (related ) Tj ET Q
q 0 0 0 rg BT 310.34 438.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 321.02 438.30 Td (unvested ) Tj ET Q
q 0 0 0 rg BT 360.85 438.30 Td (options ) Tj ET Q
q 0 0 0 rg BT 394.28 438.30 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.03 438.30 Td (1,570) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 432.66 438.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 435.17 438.30 Td (shares ) Tj ET Q
q 0 0 0 rg BT 463.92 438.30 Td (at ) Tj ET Q
q 0 0 0 rg BT 474.00 438.30 Td (March ) Tj ET Q
q 0 0 0 rg BT 503.91 438.30 Td (31, ) Tj ET Q
q 0 0 0 rg BT 519.55 438.30 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 545.68 438.30 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 425.70 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 55.25 425.70 Td (7,618) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 78.88 425.70 Td (, ) Tj ET Q
q 0 0 0 rg BT 84.13 425.70 Td (which ) Tj ET Q
q 0 0 0 rg BT 112.41 425.70 Td (is ) Tj ET Q
q 0 0 0 rg BT 122.04 425.70 Td (expected ) Tj ET Q
q 0 0 0 rg BT 161.98 425.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 172.77 425.70 Td (be ) Tj ET Q
q 0 0 0 rg BT 185.30 425.70 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 233.98 425.70 Td (over ) Tj ET Q
q 0 0 0 rg BT 255.27 425.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 262.55 425.70 Td (weighted-average ) Tj ET Q
q 0 0 0 rg BT 339.80 425.70 Td (period ) Tj ET Q
q 0 0 0 rg BT 369.25 425.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 380.62 425.70 Td (1.3 ) Tj ET Q
q 0 0 0 rg BT 396.37 425.70 Td (years.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 400.50 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 73.15 400.50 Td (received ) Tj ET Q
q 0 0 0 rg BT 110.86 400.50 Td (from ) Tj ET Q
q 0 0 0 rg BT 133.42 400.50 Td (exercises ) Tj ET Q
q 0 0 0 rg BT 174.04 400.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 184.94 400.50 Td (stock ) Tj ET Q
q 0 0 0 rg BT 209.25 400.50 Td (options ) Tj ET Q
q 0 0 0 rg BT 242.33 400.50 Td (under ) Tj ET Q
q 0 0 0 rg BT 268.38 400.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 292.11 400.50 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 328.82 400.50 Td (equity ) Tj ET Q
q 0 0 0 rg BT 357.21 400.50 Td (incentive ) Tj ET Q
q 0 0 0 rg BT 397.85 400.50 Td (plans ) Tj ET Q
q 0 0 0 rg BT 422.16 400.50 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 440.64 400.50 Td ($14,072) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 474.77 400.50 Td (, ) Tj ET Q
q 0 0 0 rg BT 479.54 400.50 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 484.79 400.50 Td (8,988) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 508.41 400.50 Td (, ) Tj ET Q
q 0 0 0 rg BT 513.19 400.50 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 530.50 400.50 Td ($9,516) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 559.37 400.50 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 387.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 66.04 387.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 82.66 387.90 Td (years ) Tj ET Q
q 0 0 0 rg BT 108.61 387.90 Td (ended ) Tj ET Q
q 0 0 0 rg BT 137.48 387.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 168.68 387.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 185.60 387.90 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 213.03 387.90 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 240.45 387.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 259.40 387.90 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 286.83 387.90 Td (respectively) Tj ET Q
q 0 0 0 rg BT 336.87 387.90 Td (. ) Tj ET Q
q 0 0 0 rg BT 343.02 387.90 Td (The ) Tj ET Q
q 0 0 0 rg BT 363.14 387.90 Td (tax ) Tj ET Q
q 0 0 0 rg BT 379.77 387.90 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 412.71 387.90 Td (expected ) Tj ET Q
q 0 0 0 rg BT 453.82 387.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 465.78 387.90 Td (be ) Tj ET Q
q 0 0 0 rg BT 479.49 387.90 Td (realized ) Tj ET Q
q 0 0 0 rg BT 516.51 387.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 532.55 387.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 549.18 387.90 Td (tax ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 375.30 Td (deductions ) Tj ET Q
q 0 0 0 rg BT 98.47 375.30 Td (from ) Tj ET Q
q 0 0 0 rg BT 121.86 375.30 Td (these ) Tj ET Q
q 0 0 0 rg BT 146.42 375.30 Td (option ) Tj ET Q
q 0 0 0 rg BT 176.23 375.30 Td (exercises ) Tj ET Q
q 0 0 0 rg BT 217.69 375.30 Td (totaled ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 249.24 375.30 Td ($1,408) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 278.12 375.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 283.72 375.30 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 288.97 375.30 Td (725) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 304.72 375.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 310.32 375.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 328.46 375.30 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 333.71 375.30 Td (1,962) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 357.34 375.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 362.94 375.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 378.16 375.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 393.97 375.30 Td (years ) Tj ET Q
q 0 0 0 rg BT 419.10 375.30 Td (ended ) Tj ET Q
q 0 0 0 rg BT 447.16 375.30 Td (March ) Tj ET Q
q 0 0 0 rg BT 477.54 375.30 Td (31, ) Tj ET Q
q 0 0 0 rg BT 493.64 375.30 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 520.25 375.30 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 546.85 375.30 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 362.70 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 76.25 362.70 Td (respectively) Tj ET Q
q 0 0 0 rg BT 126.30 362.70 Td (. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 337.50 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.85 337.50 Td (weighted-average ) Tj ET Q
q 0 0 0 rg BT 145.99 337.50 Td (fair ) Tj ET Q
q 0 0 0 rg BT 163.09 337.50 Td (value ) Tj ET Q
q 0 0 0 rg BT 188.35 337.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 199.62 337.50 Td (service-based ) Tj ET Q
q 0 0 0 rg BT 259.28 337.50 Td (stock ) Tj ET Q
q 0 0 0 rg BT 283.96 337.50 Td (options ) Tj ET Q
q 0 0 0 rg BT 317.41 337.50 Td (granted ) Tj ET Q
q 0 0 0 rg BT 351.42 337.50 Td (during ) Tj ET Q
q 0 0 0 rg BT 381.35 337.50 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 396.70 337.50 Td (years) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 418.86 337.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 421.38 337.50 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.97 337.50 Td (March ) Tj ET Q
q 0 0 0 rg BT 478.90 337.50 Td (31, ) Tj ET Q
q 0 0 0 rg BT 494.55 337.50 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 515.55 337.50 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 520.70 337.50 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 541.70 337.50 Td (, ) Tj ET Q
q 0 0 0 rg BT 546.84 337.50 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 324.90 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 76.25 324.90 Td (using ) Tj ET Q
q 0 0 0 rg BT 101.63 324.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 117.08 324.90 Td (Black-Scholes ) Tj ET Q
q 0 0 0 rg BT 180.36 324.90 Td (option ) Tj ET Q
q 0 0 0 rg BT 209.82 324.90 Td (pricing ) Tj ET Q
q 0 0 0 rg BT 242.19 324.90 Td (model ) Tj ET Q
q 0 0 0 rg BT 271.06 324.90 Td (was ) Tj ET Q
q 0 0 0 rg BT 290.01 324.90 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 295.26 324.90 Td (8.41) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 313.64 324.90 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 318.89 324.90 Td ($7.78) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 342.51 324.90 Td (, ) Tj ET Q
q 0 0 0 rg BT 347.76 324.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 365.55 324.90 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 370.80 324.90 Td (1) Tj ET Q
q 0 0 0 rg BT 375.66 324.90 Td (1.26) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 394.03 324.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 396.66 324.90 Td (per ) Tj ET Q
q 0 0 0 rg BT 412.69 324.90 Td (share, ) Tj ET Q
q 0 0 0 rg BT 440.10 324.90 Td (respectively) Tj ET Q
q 0 0 0 rg BT 490.14 324.90 Td (. ) Tj ET Q
q 0 0 0 rg BT 495.39 324.90 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 299.70 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.96 299.70 Td (following ) Tj ET Q
q 0 0 0 rg BT 112.44 299.70 Td (weighted-average ) Tj ET Q
q 0 0 0 rg BT 189.70 299.70 Td (assumptions ) Tj ET Q
q 0 0 0 rg BT 244.26 299.70 Td (were ) Tj ET Q
q 0 0 0 rg BT 267.30 299.70 Td (used ) Tj ET Q
q 0 0 0 rg BT 289.19 299.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 299.99 299.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 315.46 299.70 Td (model ) Tj ET Q
q 0 0 0 rg BT 344.35 299.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 359.23 299.70 Td (grants ) Tj ET Q
q 0 0 0 rg BT 387.53 299.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 398.33 299.70 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 413.80 299.70 Td (years) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 435.96 299.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 438.60 299.70 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 466.31 299.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 496.35 299.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 512.11 299.70 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.11 299.70 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 538.38 299.70 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 559.38 299.70 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 287.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.79 287.10 Td (2016:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 248.60 229.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.50 248.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
283.50 248.60 96.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
379.50 248.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
383.50 248.60 96.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
479.50 248.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
483.50 248.60 79.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 220.60 229.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.50 220.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
283.50 220.60 96.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
379.50 220.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
383.50 220.60 96.00 -14.00 re f
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q 0 0 0 rg BT 53.00 494.97 Td (Canceled/forfeited) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 460.50 494.97 Td (\(72) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 474.50 494.97 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.85 494.97 Td (38.10) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 479.88 Td (Unvested shar) Tj ET Q
q 0 0 0 rg BT 113.65 479.88 Td (es at Mar) Tj ET Q
q 0 0 0 rg BT 154.01 479.88 Td (ch 31, 2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 450.85 479.99 Td (3,299) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 485.00 479.99 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 534.85 479.99 Td (38.09) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 450.50 Td (The ) Tj ET Q
q 0 0 0 rg BT 69.10 450.50 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 110.93 450.50 Td (stock ) Tj ET Q
q 0 0 0 rg BT 135.87 450.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 153.80 450.50 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 195.63 450.50 Td (stock ) Tj ET Q
q 0 0 0 rg BT 220.57 450.50 Td (unit ) Tj ET Q
q 0 0 0 rg BT 239.67 450.50 Td (transactions ) Tj ET Q
q 0 0 0 rg BT 292.60 450.50 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 332.09 450.50 Td (in ) Tj ET Q
q 0 0 0 rg BT 343.03 450.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 358.63 450.50 Td (table ) Tj ET Q
q 0 0 0 rg BT 381.81 450.50 Td (above ) Tj ET Q
q 0 0 0 rg BT 409.65 450.50 Td (were ) Tj ET Q
q 0 0 0 rg BT 432.82 450.50 Td (non-cash ) Tj ET Q
q 0 0 0 rg BT 473.50 450.50 Td (transactions. ) Tj ET Q
q 0 0 0 rg BT 529.04 450.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 531.82 450.50 Td (For ) Tj ET Q
q 0 0 0 rg BT 549.17 450.50 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 437.90 Td (years ) Tj ET Q
q 0 0 0 rg BT 75.04 437.90 Td (ended ) Tj ET Q
q 0 0 0 rg BT 102.99 437.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 133.28 437.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 149.29 437.90 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 175.80 437.90 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 202.31 437.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 220.35 437.90 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 246.86 437.90 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 271.32 437.90 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 302.79 437.90 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 351.73 437.90 Td (income ) Tj ET Q
q 0 0 0 rg BT 385.52 437.90 Td (tax ) Tj ET Q
q 0 0 0 rg BT 401.23 437.90 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 437.35 437.90 Td (related ) Tj ET Q
q 0 0 0 rg BT 468.80 437.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 479.85 437.90 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 521.80 437.90 Td (stock ) Tj ET Q
q 0 0 0 rg BT 546.85 437.90 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 425.30 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 92.47 425.30 Td (stock ) Tj ET Q
q 0 0 0 rg BT 118.04 425.30 Td (unit ) Tj ET Q
q 0 0 0 rg BT 137.78 425.30 Td (awards ) Tj ET Q
q 0 0 0 rg BT 170.93 425.30 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 183.08 425.30 Td ($20,972) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 217.21 425.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 223.24 425.30 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 228.49 425.30 Td (21,138) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 257.36 425.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 263.39 425.30 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 281.96 425.30 Td ($20,597) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 316.09 425.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 322.12 425.30 Td (respectively) Tj ET Q
q 0 0 0 rg BT 372.17 425.30 Td (. ) Tj ET Q
q 0 0 0 rg BT 378.20 425.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 381.60 425.30 Td (Unamortized ) Tj ET Q
q 0 0 0 rg BT 439.82 425.30 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 501.55 425.30 Td (cost ) Tj ET Q
q 0 0 0 rg BT 521.87 425.30 Td (related ) Tj ET Q
q 0 0 0 rg BT 553.84 425.30 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 412.70 Td (unvested ) Tj ET Q
q 0 0 0 rg BT 89.81 412.70 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 131.36 412.70 Td (stock ) Tj ET Q
q 0 0 0 rg BT 156.01 412.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 173.66 412.70 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 215.21 412.70 Td (stock ) Tj ET Q
q 0 0 0 rg BT 239.85 412.70 Td (unit ) Tj ET Q
q 0 0 0 rg BT 258.68 412.70 Td (awards ) Tj ET Q
q 0 0 0 rg BT 290.90 412.70 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 305.63 412.70 Td (3,299) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 329.25 412.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 331.74 412.70 Td (shares ) Tj ET Q
q 0 0 0 rg BT 360.46 412.70 Td (at ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 370.53 412.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 400.42 412.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 416.03 412.70 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 437.03 412.70 Td (, ) Tj ET Q
q 0 0 0 rg BT 442.14 412.70 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 460.95 412.70 Td ($72,187) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.08 412.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 497.56 412.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 515.21 412.70 Td (is ) Tj ET Q
q 0 0 0 rg BT 524.70 412.70 Td (expected ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 400.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.79 400.10 Td (be ) Tj ET Q
q 0 0 0 rg BT 73.33 400.10 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 122.01 400.10 Td (over ) Tj ET Q
q 0 0 0 rg BT 143.29 400.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 150.58 400.10 Td (weighted-average ) Tj ET Q
q 0 0 0 rg BT 227.83 400.10 Td (period ) Tj ET Q
q 0 0 0 rg BT 257.28 400.10 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 268.65 400.10 Td (1.6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 281.77 400.10 Td (�years.) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 50.00 374.90 Td (Af) Tj ET Q
q 0 0 0 rg BT 60.31 374.90 Td (filiate ) Tj ET Q
q 0 0 0 rg BT 88.01 374.90 Td (Management ) Tj ET Q
q 0 0 0 rg BT 147.81 374.90 Td (Equity ) Tj ET Q
q 0 0 0 rg BT 179.02 374.90 Td (Plans ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 362.30 Td (In ) Tj ET Q
q 0 0 0 rg BT 60.45 362.30 Td (connection ) Tj ET Q
q 0 0 0 rg BT 108.22 362.30 Td (with ) Tj ET Q
q 0 0 0 rg BT 128.60 362.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 143.13 362.30 Td (acquisition ) Tj ET Q
q 0 0 0 rg BT 190.91 362.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 201.36 362.30 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 234.56 362.30 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 270.67 362.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 280.17 362.30 Td (April ) Tj ET Q
q 0 0 0 rg BT 304.04 362.30 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 329.37 362.30 Td (as ) Tj ET Q
q 0 0 0 rg BT 339.82 362.30 Td (further ) Tj ET Q
q 0 0 0 rg BT 370.09 362.30 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 412.05 362.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 421.92 362.30 Td (Note ) Tj ET Q
q 0 0 0 rg BT 444.03 362.30 Td (2, ) Tj ET Q
q 0 0 0 rg BT 453.61 362.30 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 476.89 362.30 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 507.18 362.30 Td (implemented ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 349.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 56.23 349.70 Td (management ) Tj ET Q
q 0 0 0 rg BT 111.44 349.70 Td (equity ) Tj ET Q
q 0 0 0 rg BT 139.25 349.70 Td (plan ) Tj ET Q
q 0 0 0 rg BT 158.90 349.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 172.70 349.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 187.10 349.70 Td (management ) Tj ET Q
q 0 0 0 rg BT 242.31 349.70 Td (team ) Tj ET Q
q 0 0 0 rg BT 264.28 349.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 274.60 349.70 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 307.66 349.70 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 343.63 349.70 Td (that ) Tj ET Q
q 0 0 0 rg BT 360.94 349.70 Td (entitles ) Tj ET Q
q 0 0 0 rg BT 392.84 349.70 Td (certain ) Tj ET Q
q 0 0 0 rg BT 422.97 349.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 433.28 349.70 Td (its ) Tj ET Q
q 0 0 0 rg BT 444.77 349.70 Td (key ) Tj ET Q
q 0 0 0 rg BT 461.50 349.70 Td (employees ) Tj ET Q
q 0 0 0 rg BT 507.97 349.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 517.70 349.70 Td (participate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 337.10 Td (in ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 61.02 337.10 Td (15%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 80.27 337.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 83.13 337.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 94.73 337.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 110.41 337.10 Td (future ) Tj ET Q
q 0 0 0 rg BT 138.34 337.10 Td (growth, ) Tj ET Q
q 0 0 0 rg BT 173.57 337.10 Td (if ) Tj ET Q
q 0 0 0 rg BT 182.84 337.10 Td (any) Tj ET Q
q 0 0 0 rg BT 197.32 337.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 202.80 337.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 214.40 337.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 230.08 337.10 Td (Clarion ) Tj ET Q
q 0 0 0 rg BT 264.44 337.10 Td (Partners ) Tj ET Q
q 0 0 0 rg BT 301.70 337.10 Td (enterprise ) Tj ET Q
q 0 0 0 rg BT 345.95 337.10 Td (value ) Tj ET Q
q 0 0 0 rg BT 371.55 337.10 Td (\(subject ) Tj ET Q
q 0 0 0 rg BT 407.64 337.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 418.67 337.10 Td (appropriate ) Tj ET Q
q 0 0 0 rg BT 469.33 337.10 Td (discounts\) ) Tj ET Q
q 0 0 0 rg BT 515.35 337.10 Td (subsequent ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 324.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 60.42 324.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 75.49 324.50 Td (date ) Tj ET Q
q 0 0 0 rg BT 95.23 324.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 106.22 324.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 121.30 324.50 Td (grant. ) Tj ET Q
q 0 0 0 rg BT 147.75 324.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 149.83 324.50 Td (The ) Tj ET Q
q 0 0 0 rg BT 168.41 324.50 Td (initial ) Tj ET Q
q 0 0 0 rg BT 195.15 324.50 Td (grant ) Tj ET Q
q 0 0 0 rg BT 218.97 324.50 Td (under ) Tj ET Q
q 0 0 0 rg BT 245.13 324.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 260.21 324.50 Td (plan ) Tj ET Q
q 0 0 0 rg BT 280.53 324.50 Td (vested ) Tj ET Q
q 0 0 0 rg BT 309.61 324.50 Td (immediately ) Tj ET Q
q 0 0 0 rg BT 364.34 324.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 381.75 324.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 396.83 324.50 Td (related ) Tj ET Q
q 0 0 0 rg BT 427.64 324.50 Td (grant-date ) Tj ET Q
q 0 0 0 rg BT 472.44 324.50 Td (fair ) Tj ET Q
q 0 0 0 rg BT 489.26 324.50 Td (value ) Tj ET Q
q 0 0 0 rg BT 514.25 324.50 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 525.25 324.50 Td ($15,200) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 559.37 324.50 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 311.90 Td (determined ) Tj ET Q
q 0 0 0 rg BT 99.29 311.90 Td (by ) Tj ET Q
q 0 0 0 rg BT 111.85 311.90 Td (independent ) Tj ET Q
q 0 0 0 rg BT 165.23 311.90 Td (valuation, ) Tj ET Q
q 0 0 0 rg BT 208.98 311.90 Td (was ) Tj ET Q
q 0 0 0 rg BT 227.37 311.90 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 275.49 311.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 286.30 311.90 Td (Compensation ) Tj ET Q
q 0 0 0 rg BT 349.02 311.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 366.24 311.90 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 401.54 311.90 Td (expense ) Tj ET Q
q 0 0 0 rg BT 437.42 311.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 447.64 311.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 462.53 311.90 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 520.01 311.90 Td (Statement ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 299.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.55 299.30 Td (Income ) Tj ET Q
q 0 0 0 rg BT 95.85 299.30 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 125.48 299.30 Td (and ) Tj ET Q
q 0 0 0 rg BT 143.45 299.30 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 182.98 299.30 Td (in ) Tj ET Q
q 0 0 0 rg BT 193.95 299.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 209.59 299.30 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 267.81 299.30 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 304.43 299.30 Td (Sheet ) Tj ET Q
q 0 0 0 rg BT 330.57 299.30 Td (as ) Tj ET Q
q 0 0 0 rg BT 342.12 299.30 Td (Redeemable ) Tj ET Q
q 0 0 0 rg BT 396.82 299.30 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 461.45 299.30 Td (interest ) Tj ET Q
q 0 0 0 rg BT 495.17 299.30 Td (during ) Tj ET Q
q 0 0 0 rg BT 525.39 299.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 541.02 299.30 Td (three ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 286.70 Td (months ) Tj ET Q
q 0 0 0 rg BT 84.01 286.70 Td (ended ) Tj ET Q
q 0 0 0 rg BT 112.17 286.70 Td (June ) Tj ET Q
q 0 0 0 rg BT 134.50 286.70 Td (30, ) Tj ET Q
q 0 0 0 rg BT 150.71 286.70 Td (2016. ) Tj ET Q
q 0 0 0 rg BT 177.42 286.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 180.51 286.70 Td (Future ) Tj ET Q
q 0 0 0 rg BT 211.01 286.70 Td (grants ) Tj ET Q
q 0 0 0 rg BT 239.76 286.70 Td (under ) Tj ET Q
q 0 0 0 rg BT 266.75 286.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 282.67 286.70 Td (plan ) Tj ET Q
q 0 0 0 rg BT 303.83 286.70 Td (will ) Tj ET Q
q 0 0 0 rg BT 323.25 286.70 Td (vest ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 343.25 286.70 Td (20%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 362.50 286.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 365.59 286.70 Td (annually ) Tj ET Q
q 0 0 0 rg BT 404.83 286.70 Td (over ) Tj ET Q
q 0 0 0 rg BT 426.57 286.70 Td (five ) Tj ET Q
q 0 0 0 rg BT 445.98 286.70 Td (years, ) Tj ET Q
q 0 0 0 rg BT 473.85 286.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 492.10 286.70 Td (will ) Tj ET Q
q 0 0 0 rg BT 511.52 286.70 Td (result ) Tj ET Q
q 0 0 0 rg BT 537.93 286.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 549.19 286.70 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 274.10 Td (recognition ) Tj ET Q
q 0 0 0 rg BT 100.81 274.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 112.55 274.10 Td (additional ) Tj ET Q
q 0 0 0 rg BT 157.53 274.10 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 218.85 274.10 Td (expense ) Tj ET Q
q 0 0 0 rg BT 255.66 274.10 Td (over ) Tj ET Q
q 0 0 0 rg BT 277.30 274.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 293.12 274.10 Td (related ) Tj ET Q
q 0 0 0 rg BT 324.68 274.10 Td (vesting ) Tj ET Q
q 0 0 0 rg BT 358.00 274.10 Td (period. ) Tj ET Q
q 0 0 0 rg BT 390.44 274.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 393.44 274.10 Td (Subject ) Tj ET Q
q 0 0 0 rg BT 427.92 274.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 439.08 274.10 Td (various ) Tj ET Q
q 0 0 0 rg BT 472.99 274.10 Td (conditions, ) Tj ET Q
q 0 0 0 rg BT 522.35 274.10 Td (including ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 261.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.21 261.50 Td (passage ) Tj ET Q
q 0 0 0 rg BT 100.25 261.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 111.37 261.50 Td (time, ) Tj ET Q
q 0 0 0 rg BT 135.04 261.50 Td (vested ) Tj ET Q
q 0 0 0 rg BT 164.25 261.50 Td (plan ) Tj ET Q
q 0 0 0 rg BT 184.71 261.50 Td (units ) Tj ET Q
q 0 0 0 rg BT 207.51 261.50 Td (can ) Tj ET Q
q 0 0 0 rg BT 224.46 261.50 Td (be ) Tj ET Q
q 0 0 0 rg BT 236.76 261.50 Td (put ) Tj ET Q
q 0 0 0 rg BT 252.56 261.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 263.10 261.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 287.06 261.50 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 318.02 261.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 332.65 261.50 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 378.19 261.50 Td (at ) Tj ET Q
q 0 0 0 rg BT 388.15 261.50 Td (fair ) Tj ET Q
q 0 0 0 rg BT 405.10 261.50 Td (value. ) Tj ET Q
q 0 0 0 rg BT 432.84 261.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 435.23 261.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 459.18 261.50 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 490.15 261.50 Td (can ) Tj ET Q
q 0 0 0 rg BT 507.10 261.50 Td (also ) Tj ET Q
q 0 0 0 rg BT 526.39 261.50 Td (call ) Tj ET Q
q 0 0 0 rg BT 543.93 261.50 Td (plan ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 248.90 Td (units, ) Tj ET Q
q 0 0 0 rg BT 75.75 248.90 Td (generally ) Tj ET Q
q 0 0 0 rg BT 117.52 248.90 Td (post ) Tj ET Q
q 0 0 0 rg BT 137.73 248.90 Td (employment, ) Tj ET Q
q 0 0 0 rg BT 195.55 248.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 210.50 248.90 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 256.36 248.90 Td (at ) Tj ET Q
q 0 0 0 rg BT 266.65 248.90 Td (fair ) Tj ET Q
q 0 0 0 rg BT 283.92 248.90 Td (value. ) Tj ET Q
q 0 0 0 rg BT 311.99 248.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 314.10 248.90 Td (As ) Tj ET Q
q 0 0 0 rg BT 328.48 248.90 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 339.93 248.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 370.04 248.90 Td (31, ) Tj ET Q
q 0 0 0 rg BT 385.87 248.90 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 406.87 248.90 Td (, ) Tj ET Q
q 0 0 0 rg BT 412.20 248.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 427.73 248.90 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 470.68 248.90 Td (aggregate ) Tj ET Q
q 0 0 0 rg BT 514.19 248.90 Td (redemption ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 236.30 Td (amount ) Tj ET Q
q 0 0 0 rg BT 84.12 236.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 95.49 236.30 Td (units ) Tj ET Q
q 0 0 0 rg BT 118.54 236.30 Td (under ) Tj ET Q
q 0 0 0 rg BT 145.07 236.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 160.52 236.30 Td (plan, ) Tj ET Q
q 0 0 0 rg BT 183.85 236.30 Td (as ) Tj ET Q
q 0 0 0 rg BT 195.22 236.30 Td (if ) Tj ET Q
q 0 0 0 rg BT 204.26 236.30 Td (they ) Tj ET Q
q 0 0 0 rg BT 224.97 236.30 Td (were ) Tj ET Q
q 0 0 0 rg BT 247.99 236.30 Td (currently ) Tj ET Q
q 0 0 0 rg BT 288.52 236.30 Td (redeemable, ) Tj ET Q
q 0 0 0 rg BT 342.15 236.30 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 691.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 64.63 691.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 79.85 691.35 Td (years) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 102.00 691.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 104.39 691.35 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 131.85 691.35 Td (March ) Tj ET Q
q 0 0 0 rg BT 161.65 691.35 Td (31, ) Tj ET Q
q 0 0 0 rg BT 177.16 691.35 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 198.16 691.35 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 203.18 691.35 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 224.18 691.35 Td (, ) Tj ET Q
q 0 0 0 rg BT 229.19 691.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 246.74 691.35 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 272.75 691.35 Td (respectively) Tj ET Q
q 0 0 0 rg BT 322.80 691.35 Td (. ) Tj ET Q
q 0 0 0 rg BT 327.81 691.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 330.03 691.35 Td (This ) Tj ET Q
q 0 0 0 rg BT 351.09 691.35 Td (arrangement ) Tj ET Q
q 0 0 0 rg BT 405.95 691.35 Td (provides ) Tj ET Q
q 0 0 0 rg BT 444.50 691.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 462.63 691.35 Td (one-half ) Tj ET Q
q 0 0 0 rg BT 500.00 691.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 511.14 691.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 526.36 691.35 Td (cost ) Tj ET Q
q 0 0 0 rg BT 545.66 691.35 Td (will ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 678.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 63.05 678.75 Td (absorbed ) Tj ET Q
q 0 0 0 rg BT 104.09 678.75 Td (by ) Tj ET Q
q 0 0 0 rg BT 117.73 678.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 133.69 678.75 Td (ClearBridge ) Tj ET Q
q 0 0 0 rg BT 188.15 678.75 Td (incentive ) Tj ET Q
q 0 0 0 rg BT 229.77 678.75 Td (pool. ) Tj ET Q
q 0 0 0 rg BT 254.20 678.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 257.34 678.75 Td (Once ) Tj ET Q
q 0 0 0 rg BT 282.63 678.75 Td (vested, ) Tj ET Q
q 0 0 0 rg BT 315.22 678.75 Td (plan ) Tj ET Q
q 0 0 0 rg BT 336.43 678.75 Td (units ) Tj ET Q
q 0 0 0 rg BT 359.99 678.75 Td (can ) Tj ET Q
q 0 0 0 rg BT 377.70 678.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 390.75 678.75 Td (put ) Tj ET Q
q 0 0 0 rg BT 407.31 678.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 418.61 678.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 443.32 678.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 475.04 678.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 490.43 678.75 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 536.72 678.75 Td (at ) Tj ET Q
q 0 0 0 rg BT 547.43 678.75 Td (fair ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 666.15 Td (value, ) Tj ET Q
q 0 0 0 rg BT 77.47 666.15 Td (beginning ) Tj ET Q
q 0 0 0 rg BT 121.56 666.15 Td (one ) Tj ET Q
q 0 0 0 rg BT 138.83 666.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 159.00 666.15 Td (after ) Tj ET Q
q 0 0 0 rg BT 180.33 666.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 195.26 666.15 Td (holder ) Tj ET Q
q 0 0 0 rg BT 224.19 666.15 Td (terminates ) Tj ET Q
q 0 0 0 rg BT 270.02 666.15 Td (their ) Tj ET Q
q 0 0 0 rg BT 291.37 666.15 Td (employment. ) Tj ET Q
q 0 0 0 rg BT 348.59 666.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 350.69 666.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 374.37 666.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 405.05 666.15 Td (can ) Tj ET Q
q 0 0 0 rg BT 421.72 666.15 Td (also ) Tj ET Q
q 0 0 0 rg BT 440.74 666.15 Td (call ) Tj ET Q
q 0 0 0 rg BT 458.00 666.15 Td (plan ) Tj ET Q
q 0 0 0 rg BT 478.18 666.15 Td (units, ) Tj ET Q
q 0 0 0 rg BT 503.33 666.15 Td (generally ) Tj ET Q
q 0 0 0 rg BT 544.49 666.15 Td (post ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 653.55 Td (employment, ) Tj ET Q
q 0 0 0 rg BT 106.82 653.55 Td (for ) Tj ET Q
q 0 0 0 rg BT 120.76 653.55 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 165.62 653.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 174.90 653.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 191.18 653.55 Td (value. ) Tj ET Q
q 0 0 0 rg BT 218.24 653.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 219.94 653.55 Td (Changes ) Tj ET Q
q 0 0 0 rg BT 257.81 653.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 267.68 653.55 Td (control ) Tj ET Q
q 0 0 0 rg BT 299.12 653.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 309.57 653.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 332.85 653.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 363.13 653.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 373.58 653.55 Td (ClearBridge ) Tj ET Q
q 0 0 0 rg BT 426.60 653.55 Td (do ) Tj ET Q
q 0 0 0 rg BT 438.80 653.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 453.92 653.55 Td (impact ) Tj ET Q
q 0 0 0 rg BT 484.20 653.55 Td (vesting, ) Tj ET Q
q 0 0 0 rg BT 518.86 653.55 Td (settlement ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 640.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 61.40 640.95 Td (other ) Tj ET Q
q 0 0 0 rg BT 85.63 640.95 Td (provisions ) Tj ET Q
q 0 0 0 rg BT 132.04 640.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 143.45 640.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 158.93 640.95 Td (units. ) Tj ET Q
q 0 0 0 rg BT 184.63 640.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 187.29 640.95 Td (However) Tj ET Q
q 0 0 0 rg BT 225.35 640.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 230.63 640.95 Td (upon ) Tj ET Q
q 0 0 0 rg BT 254.29 640.95 Td (sale ) Tj ET Q
q 0 0 0 rg BT 273.27 640.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 284.67 640.95 Td (substantially ) Tj ET Q
q 0 0 0 rg BT 340.41 640.95 Td (all ) Tj ET Q
q 0 0 0 rg BT 353.56 640.95 Td (ClearBridge ) Tj ET Q
q 0 0 0 rg BT 407.53 640.95 Td (assets, ) Tj ET Q
q 0 0 0 rg BT 437.31 640.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 452.79 640.95 Td (vesting ) Tj ET Q
q 0 0 0 rg BT 485.78 640.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 497.18 640.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 512.67 640.95 Td (units ) Tj ET Q
q 0 0 0 rg BT 535.75 640.95 Td (would ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 628.35 Td (accelerate ) Tj ET Q
q 0 0 0 rg BT 94.51 628.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 112.23 628.35 Td (participants ) Tj ET Q
q 0 0 0 rg BT 163.77 628.35 Td (would ) Tj ET Q
q 0 0 0 rg BT 192.57 628.35 Td (receive ) Tj ET Q
q 0 0 0 rg BT 225.43 628.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 232.65 628.35 Td (fair ) Tj ET Q
q 0 0 0 rg BT 249.77 628.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 275.07 628.35 Td (payment ) Tj ET Q
q 0 0 0 rg BT 313.78 628.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 324.50 628.35 Td (respect ) Tj ET Q
q 0 0 0 rg BT 356.79 628.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 368.09 628.35 Td (their ) Tj ET Q
q 0 0 0 rg BT 389.89 628.35 Td (interests ) Tj ET Q
q 0 0 0 rg BT 427.43 628.35 Td (under ) Tj ET Q
q 0 0 0 rg BT 453.90 628.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 469.28 628.35 Td (plan. ) Tj ET Q
q 0 0 0 rg BT 492.54 628.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 495.09 628.35 Td (Future ) Tj ET Q
q 0 0 0 rg BT 525.06 628.35 Td (grants ) Tj ET Q
q 0 0 0 rg BT 553.28 628.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 615.75 Td (additional ) Tj ET Q
q 0 0 0 rg BT 94.41 615.75 Td (plan ) Tj ET Q
q 0 0 0 rg BT 114.91 615.75 Td (units ) Tj ET Q
q 0 0 0 rg BT 137.75 615.75 Td (will ) Tj ET Q
q 0 0 0 rg BT 156.51 615.75 Td (dilute ) Tj ET Q
q 0 0 0 rg BT 182.85 615.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 198.10 615.75 Td (participation ) Tj ET Q
q 0 0 0 rg BT 253.58 615.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 264.75 615.75 Td (existing ) Tj ET Q
q 0 0 0 rg BT 300.42 615.75 Td (outstanding ) Tj ET Q
q 0 0 0 rg BT 351.84 615.75 Td (units ) Tj ET Q
q 0 0 0 rg BT 374.69 615.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 385.27 615.75 Td (15% ) Tj ET Q
q 0 0 0 rg BT 406.94 615.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 418.11 615.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 433.36 615.75 Td (future ) Tj ET Q
q 0 0 0 rg BT 460.85 615.75 Td (growth ) Tj ET Q
q 0 0 0 rg BT 493.02 615.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 504.19 615.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 519.44 615.75 Td (respective ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 603.15 Td (af) Tj ET Q
q 0 0 0 rg BT 57.97 603.15 Td (filiates' ) Tj ET Q
q 0 0 0 rg BT 91.45 603.15 Td (enterprise ) Tj ET Q
q 0 0 0 rg BT 135.86 603.15 Td (value, ) Tj ET Q
q 0 0 0 rg BT 164.25 603.15 Td (if ) Tj ET Q
q 0 0 0 rg BT 173.68 603.15 Td (any) Tj ET Q
q 0 0 0 rg BT 188.16 603.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 193.80 603.15 Td (subsequent ) Tj ET Q
q 0 0 0 rg BT 243.48 603.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 254.66 603.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 270.51 603.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 302.09 603.15 Td (future ) Tj ET Q
q 0 0 0 rg BT 330.18 603.15 Td (grant ) Tj ET Q
q 0 0 0 rg BT 354.77 603.15 Td (date, ) Tj ET Q
q 0 0 0 rg BT 377.90 603.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 393.16 603.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 421.84 603.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 466.84 603.15 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 528.18 603.15 Td (expense ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 590.55 Td (would ) Tj ET Q
q 0 0 0 rg BT 78.73 590.55 Td (be ) Tj ET Q
q 0 0 0 rg BT 91.13 590.55 Td (incurred. ) Tj ET Q
q 0 0 0 rg BT 131.22 590.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 133.70 590.55 Td (Further) Tj ET Q
q 0 0 0 rg BT 164.19 590.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 169.30 590.55 Td (future ) Tj ET Q
q 0 0 0 rg BT 196.85 590.55 Td (grants ) Tj ET Q
q 0 0 0 rg BT 225.00 590.55 Td (will ) Tj ET Q
q 0 0 0 rg BT 243.81 590.55 Td (not ) Tj ET Q
q 0 0 0 rg BT 259.72 590.55 Td (entitle ) Tj ET Q
q 0 0 0 rg BT 288.44 590.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 303.75 590.55 Td (plan ) Tj ET Q
q 0 0 0 rg BT 324.31 590.55 Td (participants, ) Tj ET Q
q 0 0 0 rg BT 378.40 590.55 Td (collectively) Tj ET Q
q 0 0 0 rg BT 426.70 590.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 431.81 590.55 Td (to ) Tj ET Q
q 0 0 0 rg BT 442.46 590.55 Td (more ) Tj ET Q
q 0 0 0 rg BT 466.52 590.55 Td (than ) Tj ET Q
q 0 0 0 rg BT 487.08 590.55 Td (an ) Tj ET Q
q 0 0 0 rg BT 499.47 590.55 Td (aggregate ) Tj ET Q
q 0 0 0 rg BT 542.76 590.55 Td (15% ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.58 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 77.23 577.95 Td (future ) Tj ET Q
q 0 0 0 rg BT 105.13 577.95 Td (growth ) Tj ET Q
q 0 0 0 rg BT 137.71 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 149.28 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 164.94 577.95 Td (ClearBridge ) Tj ET Q
q 0 0 0 rg BT 219.08 577.95 Td (enterprise ) Tj ET Q
q 0 0 0 rg BT 263.31 577.95 Td (value. ) Tj ET Q
q 0 0 0 rg BT 291.50 577.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 294.33 577.95 Td (Upon ) Tj ET Q
q 0 0 0 rg BT 320.49 577.95 Td (vesting, ) Tj ET Q
q 0 0 0 rg BT 356.28 577.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 371.94 577.95 Td (grant-date ) Tj ET Q
q 0 0 0 rg BT 417.32 577.95 Td (fair ) Tj ET Q
q 0 0 0 rg BT 434.72 577.95 Td (value ) Tj ET Q
q 0 0 0 rg BT 460.29 577.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 471.87 577.95 Td (vested ) Tj ET Q
q 0 0 0 rg BT 501.52 577.95 Td (plan ) Tj ET Q
q 0 0 0 rg BT 522.43 577.95 Td (units ) Tj ET Q
q 0 0 0 rg BT 545.68 577.95 Td (will ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 565.35 Td (be ) Tj ET Q
q 0 0 0 rg BT 62.01 565.35 Td (reflected ) Tj ET Q
q 0 0 0 rg BT 100.83 565.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 111.09 565.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 126.02 565.35 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 183.53 565.35 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 219.44 565.35 Td (Sheets ) Tj ET Q
q 0 0 0 rg BT 248.96 565.35 Td (as ) Tj ET Q
q 0 0 0 rg BT 259.80 565.35 Td (Redeemable ) Tj ET Q
q 0 0 0 rg BT 313.79 565.35 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 377.72 565.35 Td (interests ) Tj ET Q
q 0 0 0 rg BT 414.81 565.35 Td (through ) Tj ET Q
q 0 0 0 rg BT 449.57 565.35 Td (an ) Tj ET Q
q 0 0 0 rg BT 461.58 565.35 Td (adjustment ) Tj ET Q
q 0 0 0 rg BT 509.75 565.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 520.02 565.35 Td (additional ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 552.75 Td (paid-in ) Tj ET Q
q 0 0 0 rg BT 83.56 552.75 Td (capital. ) Tj ET Q
q 0 0 0 rg BT 117.99 552.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 121.53 552.75 Td (Thereafter) Tj ET Q
q 0 0 0 rg BT 164.82 552.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 171.26 552.75 Td (redeemable ) Tj ET Q
q 0 0 0 rg BT 223.46 552.75 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 289.11 552.75 Td (interests ) Tj ET Q
q 0 0 0 rg BT 327.92 552.75 Td (will ) Tj ET Q
q 0 0 0 rg BT 348.07 552.75 Td (continue ) Tj ET Q
q 0 0 0 rg BT 388.04 552.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 400.03 552.75 Td (be ) Tj ET Q
q 0 0 0 rg BT 413.76 552.75 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 452.56 552.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 464.55 552.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 481.19 552.75 Td (ultimate ) Tj ET Q
q 0 0 0 rg BT 519.42 552.75 Td (maximum ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 540.15 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 93.71 540.15 Td (redemption ) Tj ET Q
q 0 0 0 rg BT 145.01 540.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 171.22 540.15 Td (over ) Tj ET Q
q 0 0 0 rg BT 193.35 540.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 209.66 540.15 Td (expected ) Tj ET Q
q 0 0 0 rg BT 250.44 540.15 Td (term, ) Tj ET Q
q 0 0 0 rg BT 275.78 540.15 Td (through ) Tj ET Q
q 0 0 0 rg BT 311.92 540.15 Td (retained ) Tj ET Q
q 0 0 0 rg BT 349.21 540.15 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 388.26 540.15 Td (adjustments. ) Tj ET Q
q 0 0 0 rg BT 444.52 540.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 447.23 540.15 Td (As ) Tj ET Q
q 0 0 0 rg BT 462.37 540.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 474.59 540.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 505.47 540.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 522.07 540.15 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 543.07 540.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 549.17 540.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 527.55 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 93.01 527.55 Td (aggregate ) Tj ET Q
q 0 0 0 rg BT 136.59 527.55 Td (redemption ) Tj ET Q
q 0 0 0 rg BT 187.18 527.55 Td (amount ) Tj ET Q
q 0 0 0 rg BT 221.44 527.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 232.96 527.55 Td (vested ) Tj ET Q
q 0 0 0 rg BT 262.56 527.55 Td (units ) Tj ET Q
q 0 0 0 rg BT 285.75 527.55 Td (under ) Tj ET Q
q 0 0 0 rg BT 312.43 527.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 328.03 527.55 Td (ClearBridge ) Tj ET Q
q 0 0 0 rg BT 382.12 527.55 Td (plan, ) Tj ET Q
q 0 0 0 rg BT 405.59 527.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 417.11 527.55 Td (if ) Tj ET Q
q 0 0 0 rg BT 426.29 527.55 Td (they ) Tj ET Q
q 0 0 0 rg BT 447.14 527.55 Td (were ) Tj ET Q
q 0 0 0 rg BT 470.31 527.55 Td (currently ) Tj ET Q
q 0 0 0 rg BT 510.98 527.55 Td (redeemable, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 514.95 Td (was ) Tj ET Q
q 0 0 0 rg BT 68.96 514.95 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 132.23 514.95 Td ($47,897) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 166.35 514.95 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 489.75 Td (On ) Tj ET Q
q 0 0 0 rg BT 64.76 489.75 Td (June ) Tj ET Q
q 0 0 0 rg BT 85.93 489.75 Td (28, ) Tj ET Q
q 0 0 0 rg BT 100.98 489.75 Td (2013, ) Tj ET Q
q 0 0 0 rg BT 126.53 489.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 150.03 489.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 180.54 489.75 Td (implemented ) Tj ET Q
q 0 0 0 rg BT 237.28 489.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 243.87 489.75 Td (similar ) Tj ET Q
q 0 0 0 rg BT 274.96 489.75 Td (management ) Tj ET Q
q 0 0 0 rg BT 330.53 489.75 Td (equity ) Tj ET Q
q 0 0 0 rg BT 358.70 489.75 Td (plan ) Tj ET Q
q 0 0 0 rg BT 378.70 489.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 399.30 489.75 Td (key ) Tj ET Q
q 0 0 0 rg BT 416.38 489.75 Td (employees ) Tj ET Q
q 0 0 0 rg BT 463.21 489.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 473.88 489.75 Td (Permal. ) Tj ET Q
q 0 0 0 rg BT 508.18 489.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 510.10 489.75 Td (Independent ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 477.15 Td (valuation ) Tj ET Q
q 0 0 0 rg BT 93.67 477.15 Td (determined ) Tj ET Q
q 0 0 0 rg BT 145.49 477.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 162.91 477.15 Td (aggregate ) Tj ET Q
q 0 0 0 rg BT 208.31 477.15 Td (cost ) Tj ET Q
q 0 0 0 rg BT 229.82 477.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 243.16 477.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 260.58 477.15 Td (awards ) Tj ET Q
q 0 0 0 rg BT 294.91 477.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 307.67 477.15 Td (be ) Tj ET Q
q 0 0 0 rg BT 322.17 477.15 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 387.41 477.15 Td ($9,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 416.29 477.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 423.51 477.15 Td (which ) Tj ET Q
q 0 0 0 rg BT 453.76 477.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 474.68 477.15 Td (being ) Tj ET Q
q 0 0 0 rg BT 502.60 477.15 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 553.25 477.15 Td (as ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 464.55 Td (Compensation ) Tj ET Q
q 0 0 0 rg BT 112.52 464.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 129.54 464.55 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 164.63 464.55 Td (expense ) Tj ET Q
q 0 0 0 rg BT 200.31 464.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 210.33 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 225.01 464.55 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 282.28 464.55 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 330.22 464.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 340.82 464.55 Td (Income ) Tj ET Q
q 0 0 0 rg BT 374.16 464.55 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 402.85 464.55 Td (over ) Tj ET Q
q 0 0 0 rg BT 423.36 464.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 438.04 464.55 Td (related ) Tj ET Q
q 0 0 0 rg BT 468.46 464.55 Td (vesting ) Tj ET Q
q 0 0 0 rg BT 500.65 464.55 Td (period ) Tj ET Q
q 0 0 0 rg BT 529.33 464.55 Td (through ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 451.95 Td (December ) Tj ET Q
q 0 0 0 rg BT 94.81 451.95 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 120.12 451.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 121.79 451.95 Td (In ) Tj ET Q
q 0 0 0 rg BT 131.84 451.95 Td (April ) Tj ET Q
q 0 0 0 rg BT 155.68 451.95 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 180.98 451.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 190.83 451.95 Td (conjunction ) Tj ET Q
q 0 0 0 rg BT 242.07 451.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 262.42 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 276.92 451.95 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 308.34 451.95 Td (restructuring ) Tj ET Q
q 0 0 0 rg BT 363.66 451.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 373.51 451.95 Td (preparation ) Tj ET Q
q 0 0 0 rg BT 422.99 451.95 Td (for ) Tj ET Q
q 0 0 0 rg BT 436.91 451.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 451.41 451.95 Td (combination ) Tj ET Q
q 0 0 0 rg BT 505.58 451.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 525.92 451.95 Td (EnT) Tj ET Q
q 0 0 0 rg BT 543.63 451.95 Td (rust, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.43 439.35 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 97.78 439.35 Td (management ) Tj ET Q
q 0 0 0 rg BT 154.03 439.35 Td (equity ) Tj ET Q
q 0 0 0 rg BT 182.89 439.35 Td (plan ) Tj ET Q
q 0 0 0 rg BT 203.57 439.35 Td (was ) Tj ET Q
q 0 0 0 rg BT 222.51 439.35 Td (liquidated ) Tj ET Q
q 0 0 0 rg BT 267.10 439.35 Td (with ) Tj ET Q
q 0 0 0 rg BT 288.38 439.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 295.64 439.35 Td (payment ) Tj ET Q
q 0 0 0 rg BT 334.41 439.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.76 439.35 Td ($7,150) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 374.63 439.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 377.24 439.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 388.01 439.35 Td (its ) Tj ET Q
q 0 0 0 rg BT 400.54 439.35 Td (participants, ) Tj ET Q
q 0 0 0 rg BT 454.76 439.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 472.52 439.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 487.96 439.35 Td (remaining ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.13 439.35 Td ($3,481) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 426.75 Td (unamortized ) Tj ET Q
q 0 0 0 rg BT 104.34 426.75 Td (cost ) Tj ET Q
q 0 0 0 rg BT 123.11 426.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 141.30 426.75 Td (expensed ) Tj ET Q
q 0 0 0 rg BT 182.22 426.75 Td (during ) Tj ET Q
q 0 0 0 rg BT 211.50 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 226.18 426.75 Td (year ) Tj ET Q
q 0 0 0 rg BT 246.11 426.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 273.03 426.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 302.30 426.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 317.28 426.75 Td (2017. ) Tj ET Q
q 0 0 0 rg BT 342.76 426.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 344.62 426.75 Td (Compensation ) Tj ET Q
q 0 0 0 rg BT 407.14 426.75 Td (expense ) Tj ET Q
q 0 0 0 rg BT 442.82 426.75 Td (related ) Tj ET Q
q 0 0 0 rg BT 473.24 426.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 483.26 426.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 497.95 426.75 Td (Permal ) Tj ET Q
q 0 0 0 rg BT 529.55 426.75 Td (af) Tj ET Q
q 0 0 0 rg BT 537.51 426.75 Td (filiate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 414.15 Td (management ) Tj ET Q
q 0 0 0 rg BT 106.27 414.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 135.14 414.15 Td (plan ) Tj ET Q
q 0 0 0 rg BT 155.84 414.15 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 174.80 414.15 Td ($1,513) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 203.67 414.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 206.30 414.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 221.17 414.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 236.62 414.15 Td (year ) Tj ET Q
q 0 0 0 rg BT 257.31 414.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 285.01 414.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 315.04 414.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 330.79 414.15 Td (2016.) Tj ET Q
BT /F3 10.50 Tf ET
q 0 0 0 rg BT 50.00 388.95 Td (Other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 376.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 74.25 376.35 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 105.51 376.35 Td (has ) Tj ET Q
q 0 0 0 rg BT 122.18 376.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 129.52 376.35 Td (qualified ) Tj ET Q
q 0 0 0 rg BT 169.51 376.35 Td (Employee ) Tj ET Q
q 0 0 0 rg BT 214.76 376.35 Td (Stock ) Tj ET Q
q 0 0 0 rg BT 241.35 376.35 Td (Purchase ) Tj ET Q
q 0 0 0 rg BT 281.93 376.35 Td (Plan ) Tj ET Q
q 0 0 0 rg BT 303.27 376.35 Td (covering ) Tj ET Q
q 0 0 0 rg BT 342.68 376.35 Td (substantially ) Tj ET Q
q 0 0 0 rg BT 398.44 376.35 Td (all ) Tj ET Q
q 0 0 0 rg BT 411.61 376.35 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 432.96 376.35 Td (employees. ) Tj ET Q
q 0 0 0 rg BT 483.16 376.35 Td (Shares ) Tj ET Q
q 0 0 0 rg BT 513.83 376.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 525.25 376.35 Td (common ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 363.75 Td (stock ) Tj ET Q
q 0 0 0 rg BT 74.88 363.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 90.41 363.75 Td (purchased ) Tj ET Q
q 0 0 0 rg BT 135.68 363.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 146.56 363.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 162.10 363.75 Td (open ) Tj ET Q
q 0 0 0 rg BT 185.23 363.75 Td (market ) Tj ET Q
q 0 0 0 rg BT 217.09 363.75 Td (on ) Tj ET Q
q 0 0 0 rg BT 230.31 363.75 Td (behalf ) Tj ET Q
q 0 0 0 rg BT 259.25 363.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 270.71 363.75 Td (participating ) Tj ET Q
q 0 0 0 rg BT 326.49 363.75 Td (employees, ) Tj ET Q
q 0 0 0 rg BT 376.73 363.75 Td (subject ) Tj ET Q
q 0 0 0 rg BT 409.19 363.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 420.07 363.75 Td (a ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 427.44 363.75 Td (4,500) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 451.06 363.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 453.78 363.75 Td (total ) Tj ET Q
q 0 0 0 rg BT 475.15 363.75 Td (share ) Tj ET Q
q 0 0 0 rg BT 500.02 363.75 Td (limit ) Tj ET Q
q 0 0 0 rg BT 522.57 363.75 Td (under ) Tj ET Q
q 0 0 0 rg BT 549.19 363.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 351.15 Td (plan. ) Tj ET Q
q 0 0 0 rg BT 73.94 351.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 77.19 351.15 Td (Purchases ) Tj ET Q
q 0 0 0 rg BT 122.42 351.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 138.48 351.15 Td (made ) Tj ET Q
q 0 0 0 rg BT 164.46 351.15 Td (through ) Tj ET Q
q 0 0 0 rg BT 200.37 351.15 Td (payroll ) Tj ET Q
q 0 0 0 rg BT 233.35 351.15 Td (deductions ) Tj ET Q
q 0 0 0 rg BT 282.08 351.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 300.49 351.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 325.30 351.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 357.13 351.15 Td (provides ) Tj ET Q
q 0 0 0 rg BT 396.53 351.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 404.43 351.15 Td (15% ) Tj ET Q
q 0 0 0 rg BT 426.92 351.15 Td (contribution ) Tj ET Q
q 0 0 0 rg BT 481.49 351.15 Td (towards ) Tj ET Q
q 0 0 0 rg BT 517.98 351.15 Td (purchases, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 338.55 Td (which ) Tj ET Q
q 0 0 0 rg BT 78.04 338.55 Td (is ) Tj ET Q
q 0 0 0 rg BT 87.42 338.55 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 126.53 338.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 137.65 338.55 Td (Compensation ) Tj ET Q
q 0 0 0 rg BT 200.70 338.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 218.23 338.55 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 253.85 338.55 Td (in ) Tj ET Q
q 0 0 0 rg BT 264.40 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 279.61 338.55 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 337.40 338.55 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 385.86 338.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 396.98 338.55 Td (Income ) Tj ET Q
q 0 0 0 rg BT 430.85 338.55 Td (\(Loss\). ) Tj ET Q
q 0 0 0 rg BT 462.68 338.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 465.06 338.55 Td (During ) Tj ET Q
q 0 0 0 rg BT 497.18 338.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 512.39 338.55 Td (years ) Tj ET Q
q 0 0 0 rg BT 536.92 338.55 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 325.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 80.29 325.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 96.30 325.95 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 122.82 325.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 149.33 325.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 167.38 325.95 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 193.89 325.95 Td (approximately ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 257.43 325.95 Td (128) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 273.18 325.95 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 278.69 325.95 Td (164) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 294.44 325.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 299.95 325.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 318.00 325.95 Td (134) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 333.75 325.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 336.64 325.95 Td (shares, ) Tj ET Q
q 0 0 0 rg BT 368.39 325.95 Td (respectively) Tj ET Q
q 0 0 0 rg BT 418.44 325.95 Td (, ) Tj ET Q
q 0 0 0 rg BT 423.95 325.95 Td (have ) Tj ET Q
q 0 0 0 rg BT 446.66 325.95 Td (been ) Tj ET Q
q 0 0 0 rg BT 469.37 325.95 Td (purchased ) Tj ET Q
q 0 0 0 rg BT 514.82 325.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 525.88 325.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 541.59 325.95 Td (open ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 313.35 Td (market ) Tj ET Q
q 0 0 0 rg BT 81.78 313.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 94.90 313.35 Td (behalf ) Tj ET Q
q 0 0 0 rg BT 123.76 313.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 135.13 313.35 Td (participating ) Tj ET Q
q 0 0 0 rg BT 190.83 313.35 Td (employees.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 288.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 73.48 288.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 103.97 288.15 Td (also ) Tj ET Q
q 0 0 0 rg BT 122.79 288.15 Td (has ) Tj ET Q
q 0 0 0 rg BT 138.69 288.15 Td (an ) Tj ET Q
q 0 0 0 rg BT 150.50 288.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 178.65 288.15 Td (plan ) Tj ET Q
q 0 0 0 rg BT 198.64 288.15 Td (for ) Tj ET Q
q 0 0 0 rg BT 212.79 288.15 Td (non-employee ) Tj ET Q
q 0 0 0 rg BT 274.75 288.15 Td (directors. ) Tj ET Q
q 0 0 0 rg BT 316.02 288.15 Td (Under ) Tj ET Q
q 0 0 0 rg BT 344.16 288.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 358.90 288.15 Td (current ) Tj ET Q
q 0 0 0 rg BT 390.53 288.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 418.68 288.15 Td (plan, ) Tj ET Q
q 0 0 0 rg BT 441.29 288.15 Td (directors ) Tj ET Q
q 0 0 0 rg BT 479.93 288.15 Td (may ) Tj ET Q
q 0 0 0 rg BT 499.92 288.15 Td (elect ) Tj ET Q
q 0 0 0 rg BT 521.64 288.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 531.71 288.15 Td (receive ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 275.55 Td (shares ) Tj ET Q
q 0 0 0 rg BT 78.78 275.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 90.07 275.55 Td (stock ) Tj ET Q
q 0 0 0 rg BT 114.77 275.55 Td (or ) Tj ET Q
q 0 0 0 rg BT 126.05 275.55 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 167.66 275.55 Td (stock ) Tj ET Q
q 0 0 0 rg BT 192.36 275.55 Td (units. ) Tj ET Q
q 0 0 0 rg BT 217.95 275.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 220.49 275.55 Td (Shares ) Tj ET Q
q 0 0 0 rg BT 251.02 275.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 268.72 275.55 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 310.32 275.55 Td (stock ) Tj ET Q
q 0 0 0 rg BT 335.03 275.55 Td (units ) Tj ET Q
q 0 0 0 rg BT 357.99 275.55 Td (issuable ) Tj ET Q
q 0 0 0 rg BT 394.35 275.55 Td (under ) Tj ET Q
q 0 0 0 rg BT 420.80 275.55 Td (this ) Tj ET Q
q 0 0 0 rg BT 438.51 275.55 Td (equity ) Tj ET Q
q 0 0 0 rg BT 467.30 275.55 Td (plan ) Tj ET Q
q 0 0 0 rg BT 487.91 275.55 Td (are ) Tj ET Q
q 0 0 0 rg BT 503.27 275.55 Td (limited ) Tj ET Q
q 0 0 0 rg BT 535.56 275.55 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 546.26 275.55 Td (625) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 262.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 60.42 262.95 Td (aggregate, ) Tj ET Q
q 0 0 0 rg BT 106.11 262.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 117.11 262.95 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 145.03 262.95 Td (460) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 160.78 262.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 163.04 262.95 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 180.45 262.95 Td (427) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 196.20 262.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 198.46 262.95 Td (shares ) Tj ET Q
q 0 0 0 rg BT 226.96 262.95 Td (were ) Tj ET Q
q 0 0 0 rg BT 249.61 262.95 Td (issued ) Tj ET Q
q 0 0 0 rg BT 278.12 262.95 Td (as ) Tj ET Q
q 0 0 0 rg BT 289.12 262.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 300.12 262.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 329.78 262.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 345.17 262.95 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 368.42 262.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 385.84 262.95 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 411.72 262.95 Td (respectively) Tj ET Q
q 0 0 0 rg BT 461.76 262.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 466.65 262.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 468.40 262.95 Td (As ) Tj ET Q
q 0 0 0 rg BT 482.33 262.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 493.33 262.95 Td (March ) Tj ET Q
q 0 0 0 rg BT 522.99 262.95 Td (31, ) Tj ET Q
q 0 0 0 rg BT 538.37 262.95 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 559.37 262.95 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 250.35 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 75.78 250.35 Td (and ) Tj ET Q
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q 0 0 0 rg BT 118.87 250.35 Td (non-employee ) Tj ET Q
q 0 0 0 rg BT 181.08 250.35 Td (directors ) Tj ET Q
q 0 0 0 rg BT 219.97 250.35 Td (held ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 240.20 250.35 Td (80) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 250.70 250.35 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 255.48 250.35 Td (66) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 265.98 250.35 Td (, ) Tj ET Q
q 0 0 0 rg BT 270.75 250.35 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 288.07 250.35 Td (53) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 298.57 250.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 300.72 250.35 Td (restricted ) Tj ET Q
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q 0 0 0 rg BT 366.25 250.35 Td (units, ) Tj ET Q
q 0 0 0 rg BT 391.45 250.35 Td (respectively) Tj ET Q
q 0 0 0 rg BT 441.49 250.35 Td (, ) Tj ET Q
q 0 0 0 rg BT 446.27 250.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 474.08 250.35 Td (vest ) Tj ET Q
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q 0 0 0 rg BT 505.80 250.35 Td (the ) Tj ET Q
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q 0 0 0 rg BT 544.51 250.35 Td (date ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 237.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 67.12 237.75 Td (are, ) Tj ET Q
q 0 0 0 rg BT 84.52 237.75 Td (therefore, ) Tj ET Q
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q 0 0 0 rg BT 283.58 237.75 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 324.61 237.75 Td (stock ) Tj ET Q
q 0 0 0 rg BT 348.73 237.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 365.85 237.75 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 406.87 237.75 Td (stock ) Tj ET Q
q 0 0 0 rg BT 430.99 237.75 Td (units ) Tj ET Q
q 0 0 0 rg BT 453.37 237.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 463.50 237.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 478.29 237.75 Td (table ) Tj ET Q
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q 0 0 0 rg BT 530.31 237.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 532.27 237.75 Td (During ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 225.15 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 65.12 225.15 Td (years) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 87.27 225.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 89.56 225.15 Td (ended ) Tj ET Q
q 0 0 0 rg BT 116.93 225.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 146.62 225.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 162.04 225.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 187.95 225.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 213.87 225.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 231.32 225.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 257.23 225.15 Td (non-employee ) Tj ET Q
q 0 0 0 rg BT 319.59 225.15 Td (directors ) Tj ET Q
q 0 0 0 rg BT 358.61 225.15 Td (were ) Tj ET Q
q 0 0 0 rg BT 381.31 225.15 Td (granted ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 415.08 225.15 Td (12) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 425.58 225.15 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 430.50 225.15 Td (1) Tj ET Q
q 0 0 0 rg BT 435.36 225.15 Td (1) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.00 613.02 Td (Risk-free interest rate) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 433.85 613.02 Td (1.47) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 452.25 613.02 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.85 613.02 Td (0.89) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 552.25 613.02 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.00 598.02 Td (Expected volatility) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 428.60 598.02 Td (27.73) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 452.25 598.02 Td (%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 528.60 598.02 Td (25.99) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 552.25 598.02 Td (%) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 569.15 Td (During ) Tj ET Q
q 0 0 0 rg BT 82.21 569.15 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 107.42 569.15 Td (2012, ) Tj ET Q
q 0 0 0 rg BT 133.51 569.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 157.55 569.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 188.60 569.15 Td (established ) Tj ET Q
q 0 0 0 rg BT 237.72 569.15 Td (a ) Tj ET Q
q 0 0 0 rg BT 244.85 569.15 Td (long-term ) Tj ET Q
q 0 0 0 rg BT 288.72 569.15 Td (incentive ) Tj ET Q
q 0 0 0 rg BT 329.67 569.15 Td (plan ) Tj ET Q
q 0 0 0 rg BT 350.22 569.15 Td (\(the ) Tj ET Q
q 0 0 0 rg BT 369.01 569.15 Td ("L) Tj ET Q
q 0 0 0 rg BT 378.75 569.15 Td (TIP"\) ) Tj ET Q
q 0 0 0 rg BT 404.75 569.15 Td (under ) Tj ET Q
q 0 0 0 rg BT 431.12 569.15 Td (its ) Tj ET Q
q 0 0 0 rg BT 443.51 569.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 472.22 569.15 Td (incentive ) Tj ET Q
q 0 0 0 rg BT 513.17 569.15 Td (plan, ) Tj ET Q
q 0 0 0 rg BT 536.34 569.15 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 556.55 Td (provided ) Tj ET Q
q 0 0 0 rg BT 90.16 556.55 Td (an ) Tj ET Q
q 0 0 0 rg BT 102.90 556.55 Td (additional ) Tj ET Q
q 0 0 0 rg BT 147.72 556.55 Td (element ) Tj ET Q
q 0 0 0 rg BT 183.79 556.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 195.37 556.55 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 256.52 556.55 Td (that ) Tj ET Q
q 0 0 0 rg BT 275.10 556.55 Td (was ) Tj ET Q
q 0 0 0 rg BT 294.26 556.55 Td (based ) Tj ET Q
q 0 0 0 rg BT 321.00 556.55 Td (on ) Tj ET Q
q 0 0 0 rg BT 334.34 556.55 Td (performance, ) Tj ET Q
q 0 0 0 rg BT 392.84 556.55 Td (determined ) Tj ET Q
q 0 0 0 rg BT 442.91 556.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 454.49 556.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 470.15 556.55 Td (achievement ) Tj ET Q
q 0 0 0 rg BT 526.04 556.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 537.62 556.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 545.11 556.55 Td (pre-) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 543.95 Td (defined ) Tj ET Q
q 0 0 0 rg BT 84.06 543.95 Td (amount ) Tj ET Q
q 0 0 0 rg BT 118.14 543.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 129.46 543.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 153.61 543.95 Td (Mason�) Tj ET Q
q 0 0 0 rg BT 185.11 543.95 Td (s ) Tj ET Q
q 0 0 0 rg BT 191.78 543.95 Td (cumulative ) Tj ET Q
q 0 0 0 rg BT 241.01 543.95 Td (adjusted ) Tj ET Q
q 0 0 0 rg BT 278.58 543.95 Td (earnings ) Tj ET Q
q 0 0 0 rg BT 316.73 543.95 Td (per ) Tj ET Q
q 0 0 0 rg BT 332.71 543.95 Td (share ) Tj ET Q
q 0 0 0 rg BT 357.44 543.95 Td (over ) Tj ET Q
q 0 0 0 rg BT 378.68 543.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 385.92 543.95 Td (three ) Tj ET Q
q 0 0 0 rg BT 409.48 543.95 Td (year ) Tj ET Q
q 0 0 0 rg BT 430.13 543.95 Td (performance ) Tj ET Q
q 0 0 0 rg BT 485.75 543.95 Td (period. ) Tj ET Q
q 0 0 0 rg BT 517.78 543.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 520.36 543.95 Td (Under ) Tj ET Q
q 0 0 0 rg BT 549.18 543.95 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 531.35 Td (L) Tj ET Q
q 0 0 0 rg BT 55.45 531.35 Td (TIP) Tj ET Q
q 0 0 0 rg BT 70.04 531.35 Td (, ) Tj ET Q
q 0 0 0 rg BT 74.86 531.35 Td (executive ) Tj ET Q
q 0 0 0 rg BT 117.29 531.35 Td (of) Tj ET Q
q 0 0 0 rg BT 125.85 531.35 Td (ficers ) Tj ET Q
q 0 0 0 rg BT 151.36 531.35 Td (were ) Tj ET Q
q 0 0 0 rg BT 173.96 531.35 Td (granted ) Tj ET Q
q 0 0 0 rg BT 207.65 531.35 Td (cash ) Tj ET Q
q 0 0 0 rg BT 228.51 531.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 253.45 531.35 Td (performance ) Tj ET Q
q 0 0 0 rg BT 308.69 531.35 Td (units ) Tj ET Q
q 0 0 0 rg BT 331.32 531.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 341.68 531.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 356.71 531.35 Td (quarter ) Tj ET Q
q 0 0 0 rg BT 388.64 531.35 Td (ended ) Tj ET Q
q 0 0 0 rg BT 415.91 531.35 Td (September ) Tj ET Q
q 0 0 0 rg BT 463.02 531.35 Td (2012 ) Tj ET Q
q 0 0 0 rg BT 486.22 531.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 500.66 531.35 Td (a ) Tj ET Q
q 0 0 0 rg BT 507.52 531.35 Td (total ) Tj ET Q
q 0 0 0 rg BT 528.38 531.35 Td (tar) Tj ET Q
q 0 0 0 rg BT 539.27 531.35 Td (geted ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 518.75 Td (amount ) Tj ET Q
q 0 0 0 rg BT 83.53 518.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 94.31 518.75 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 99.56 518.75 Td (1,850) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 123.18 518.75 Td (. ) Tj ET Q
q 0 0 0 rg BT 127.84 518.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 129.73 518.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 148.08 518.75 Td (September ) Tj ET Q
q 0 0 0 rg BT 195.02 518.75 Td (2012 ) Tj ET Q
q 0 0 0 rg BT 218.05 518.75 Td (grant ) Tj ET Q
q 0 0 0 rg BT 241.66 518.75 Td (performance ) Tj ET Q
q 0 0 0 rg BT 296.74 518.75 Td (period ) Tj ET Q
q 0 0 0 rg BT 325.60 518.75 Td (ended ) Tj ET Q
q 0 0 0 rg BT 352.70 518.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 382.14 518.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 397.30 518.75 Td (2015, ) Tj ET Q
q 0 0 0 rg BT 422.96 518.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 440.15 518.75 Td (resulted ) Tj ET Q
q 0 0 0 rg BT 475.42 518.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 485.62 518.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 492.32 518.75 Td (payment ) Tj ET Q
q 0 0 0 rg BT 530.50 518.75 Td (amount ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 506.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.37 506.15 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 66.62 506.15 Td (1,000) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 90.25 506.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 92.87 506.15 Td (that ) Tj ET Q
q 0 0 0 rg BT 111.24 506.15 Td (was ) Tj ET Q
q 0 0 0 rg BT 130.20 506.15 Td (settled ) Tj ET Q
q 0 0 0 rg BT 160.23 506.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 171.02 506.15 Td (cash ) Tj ET Q
q 0 0 0 rg BT 192.31 506.15 Td (on ) Tj ET Q
q 0 0 0 rg BT 205.43 506.15 Td (May ) Tj ET Q
q 0 0 0 rg BT 227.30 506.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 243.05 506.15 Td (2015.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 480.95 Td (Deferred ) Tj ET Q
q 0 0 0 rg BT 89.19 480.95 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 149.39 480.95 Td (payable ) Tj ET Q
q 0 0 0 rg BT 183.92 480.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 193.96 480.95 Td (shares ) Tj ET Q
q 0 0 0 rg BT 222.08 480.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 232.71 480.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 256.17 480.95 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 286.63 480.95 Td (common ) Tj ET Q
q 0 0 0 rg BT 325.26 480.95 Td (stock ) Tj ET Q
q 0 0 0 rg BT 349.30 480.95 Td (has ) Tj ET Q
q 0 0 0 rg BT 365.18 480.95 Td (been ) Tj ET Q
q 0 0 0 rg BT 386.88 480.95 Td (granted ) Tj ET Q
q 0 0 0 rg BT 420.25 480.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 430.29 480.95 Td (certain ) Tj ET Q
q 0 0 0 rg BT 460.74 480.95 Td (employees ) Tj ET Q
q 0 0 0 rg BT 507.52 480.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 517.57 480.95 Td (an ) Tj ET Q
q 0 0 0 rg BT 529.36 480.95 Td (elective ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 468.35 Td (plan. ) Tj ET Q
q 0 0 0 rg BT 72.93 468.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 75.00 468.35 Td (The ) Tj ET Q
q 0 0 0 rg BT 93.56 468.35 Td (vesting ) Tj ET Q
q 0 0 0 rg BT 126.12 468.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 136.52 468.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 151.58 468.35 Td (plan ) Tj ET Q
q 0 0 0 rg BT 171.89 468.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 181.13 468.35 Td (immediate ) Tj ET Q
q 0 0 0 rg BT 227.68 468.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 245.07 468.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 260.13 468.35 Td (plan ) Tj ET Q
q 0 0 0 rg BT 280.44 468.35 Td (provides ) Tj ET Q
q 0 0 0 rg BT 318.83 468.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 333.31 468.35 Td (discounts ) Tj ET Q
q 0 0 0 rg BT 375.21 468.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 386.19 468.35 Td (up ) Tj ET Q
q 0 0 0 rg BT 398.92 468.35 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.32 468.35 Td (10%) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 428.56 468.35 Td ( ) Tj ET Q
q 0 0 0 rg BT 430.79 468.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 443.52 468.35 Td (contributions ) Tj ET Q
q 0 0 0 rg BT 501.17 468.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 518.56 468.35 Td (dividends. ) Tj ET Q
q 0 0 0 rg BT 564.64 468.35 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 455.75 Td (Since ) Tj ET Q
q 0 0 0 rg BT 76.08 455.75 Td (January ) Tj ET Q
q 0 0 0 rg BT 111.48 455.75 Td (1, ) Tj ET Q
q 0 0 0 rg BT 122.10 455.75 Td (2015, ) Tj ET Q
q 0 0 0 rg BT 148.47 455.75 Td (there ) Tj ET Q
q 0 0 0 rg BT 172.20 455.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 187.77 455.75 Td (no ) Tj ET Q
q 0 0 0 rg BT 201.01 455.75 Td (additional ) Tj ET Q
q 0 0 0 rg BT 245.75 455.75 Td (contributions ) Tj ET Q
q 0 0 0 rg BT 303.91 455.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 314.82 455.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 330.40 455.75 Td (plan, ) Tj ET Q
q 0 0 0 rg BT 353.85 455.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 375.26 455.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 390.84 455.75 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 436.15 455.75 Td (241 ) Tj ET Q
q 0 0 0 rg BT 454.65 455.75 Td (shares ) Tj ET Q
q 0 0 0 rg BT 483.64 455.75 Td (reserved ) Tj ET Q
q 0 0 0 rg BT 521.95 455.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 536.94 455.75 Td (future ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 443.15 Td (dividend ) Tj ET Q
q 0 0 0 rg BT 89.40 443.15 Td (distributions. ) Tj ET Q
q 0 0 0 rg BT 147.19 443.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 149.85 443.15 Td (During ) Tj ET Q
q 0 0 0 rg BT 182.26 443.15 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 207.65 443.15 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 233.94 443.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 260.22 443.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 278.04 443.15 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 304.32 443.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 328.56 443.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 359.80 443.15 Td (issued ) Tj ET Q
q 0 0 0 rg BT 388.71 443.15 Td (14, ) Tj ET Q
q 0 0 0 rg BT 404.49 443.15 Td (17, ) Tj ET Q
q 0 0 0 rg BT 420.27 443.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 438.09 443.15 Td (12 ) Tj ET Q
q 0 0 0 rg BT 451.25 443.15 Td (shares, ) Tj ET Q
q 0 0 0 rg BT 482.77 443.15 Td (respectively) Tj ET Q
q 0 0 0 rg BT 532.82 443.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 538.10 443.15 Td (under ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 430.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 66.01 430.55 Td (plan ) Tj ET Q
q 0 0 0 rg BT 87.27 430.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 109.12 430.55 Td (a ) Tj ET Q
q 0 0 0 rg BT 116.96 430.55 Td (weighted-average ) Tj ET Q
q 0 0 0 rg BT 194.77 430.55 Td (fair ) Tj ET Q
q 0 0 0 rg BT 212.52 430.55 Td (value ) Tj ET Q
q 0 0 0 rg BT 238.44 430.55 Td (per ) Tj ET Q
q 0 0 0 rg BT 255.03 430.55 Td (share ) Tj ET Q
q 0 0 0 rg BT 280.36 430.55 Td (at ) Tj ET Q
q 0 0 0 rg BT 291.12 430.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 307.13 430.55 Td (grant ) Tj ET Q
q 0 0 0 rg BT 331.89 430.55 Td (date ) Tj ET Q
q 0 0 0 rg BT 352.56 430.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 364.48 430.55 Td ($37.63) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 393.36 430.55 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 399.17 430.55 Td ($29.60) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 428.04 430.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 433.85 430.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 452.19 430.55 Td ($41.82) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 481.06 430.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 486.87 430.55 Td (respectively) Tj ET Q
q 0 0 0 rg BT 536.92 430.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 542.72 430.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 545.67 430.55 Td (The ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 417.95 Td (undistributed ) Tj ET Q
q 0 0 0 rg BT 107.97 417.95 Td (shares ) Tj ET Q
q 0 0 0 rg BT 136.76 417.95 Td (issued ) Tj ET Q
q 0 0 0 rg BT 165.57 417.95 Td (under ) Tj ET Q
q 0 0 0 rg BT 192.03 417.95 Td (this ) Tj ET Q
q 0 0 0 rg BT 209.76 417.95 Td (plan ) Tj ET Q
q 0 0 0 rg BT 230.39 417.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 245.76 417.95 Td (held ) Tj ET Q
q 0 0 0 rg BT 266.40 417.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 277.12 417.95 Td (a ) Tj ET Q
q 0 0 0 rg BT 284.33 417.95 Td (rabbi ) Tj ET Q
q 0 0 0 rg BT 308.46 417.95 Td (trust. ) Tj ET Q
q 0 0 0 rg BT 332.31 417.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 334.30 417.95 Td (Assets ) Tj ET Q
q 0 0 0 rg BT 364.28 417.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 375.58 417.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 390.96 417.95 Td (rabbi ) Tj ET Q
q 0 0 0 rg BT 415.09 417.95 Td (trust ) Tj ET Q
q 0 0 0 rg BT 436.31 417.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 451.68 417.95 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 507.31 417.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 528.53 417.95 Td (those ) Tj ET Q
q 0 0 0 rg BT 553.25 417.95 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 405.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 65.04 405.35 Td (employer) Tj ET Q
q 0 0 0 rg BT 104.27 405.35 Td (, ) Tj ET Q
q 0 0 0 rg BT 109.10 405.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 126.47 405.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 141.50 405.35 Td (value ) Tj ET Q
q 0 0 0 rg BT 166.45 405.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 177.40 405.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 192.44 405.35 Td (employer's ) Tj ET Q
q 0 0 0 rg BT 240.28 405.35 Td (stock ) Tj ET Q
q 0 0 0 rg BT 264.65 405.35 Td (held ) Tj ET Q
q 0 0 0 rg BT 284.93 405.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 295.31 405.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 310.34 405.35 Td (rabbi ) Tj ET Q
q 0 0 0 rg BT 334.12 405.35 Td (trust ) Tj ET Q
q 0 0 0 rg BT 355.00 405.35 Td (is ) Tj ET Q
q 0 0 0 rg BT 364.21 405.35 Td (classified ) Tj ET Q
q 0 0 0 rg BT 406.07 405.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 416.44 405.35 Td (stockholders' ) Tj ET Q
q 0 0 0 rg BT 473.62 405.35 Td (equity ) Tj ET Q
q 0 0 0 rg BT 502.07 405.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 519.44 405.35 Td (accounted ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 392.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 63.92 392.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 73.76 392.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 80.10 392.75 Td (manner ) Tj ET Q
q 0 0 0 rg BT 113.26 392.75 Td (similar ) Tj ET Q
q 0 0 0 rg BT 144.10 392.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 153.94 392.75 Td (treasury ) Tj ET Q
q 0 0 0 rg BT 189.43 392.75 Td (stock. ) Tj ET Q
q 0 0 0 rg BT 215.90 392.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 217.45 392.75 Td (Therefore, ) Tj ET Q
q 0 0 0 rg BT 263.14 392.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 277.64 392.75 Td (shares ) Tj ET Q
q 0 0 0 rg BT 305.56 392.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 328.81 392.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 359.07 392.75 Td (has ) Tj ET Q
q 0 0 0 rg BT 374.74 392.75 Td (issued ) Tj ET Q
q 0 0 0 rg BT 402.67 392.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 412.51 392.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 427.01 392.75 Td (rabbi ) Tj ET Q
q 0 0 0 rg BT 450.26 392.75 Td (trust ) Tj ET Q
q 0 0 0 rg BT 470.60 392.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 487.44 392.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 501.94 392.75 Td (corresponding ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 380.15 Td (liability ) Tj ET Q
q 0 0 0 rg BT 85.32 380.15 Td (related ) Tj ET Q
q 0 0 0 rg BT 116.53 380.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 127.35 380.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 142.83 380.15 Td (deferred ) Tj ET Q
q 0 0 0 rg BT 180.46 380.15 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 241.43 380.15 Td (plan ) Tj ET Q
q 0 0 0 rg BT 262.16 380.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 277.63 380.15 Td (presented ) Tj ET Q
q 0 0 0 rg BT 320.51 380.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 331.91 380.15 Td (components ) Tj ET Q
q 0 0 0 rg BT 385.31 380.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 396.70 380.15 Td (stockholders' ) Tj ET Q
q 0 0 0 rg BT 454.32 380.15 Td (equity ) Tj ET Q
q 0 0 0 rg BT 483.22 380.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 494.62 380.15 Td (Employee ) Tj ET Q
q 0 0 0 rg BT 539.84 380.15 Td (stock ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 367.55 Td (trust ) Tj ET Q
q 0 0 0 rg BT 71.14 367.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 88.78 367.55 Td (Deferred ) Tj ET Q
q 0 0 0 rg BT 128.56 367.55 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 189.35 367.55 Td (employee ) Tj ET Q
q 0 0 0 rg BT 232.65 367.55 Td (stock ) Tj ET Q
q 0 0 0 rg BT 257.29 367.55 Td (trust, ) Tj ET Q
q 0 0 0 rg BT 281.05 367.55 Td (respectively) Tj ET Q
q 0 0 0 rg BT 331.10 367.55 Td (. ) Tj ET Q
q 0 0 0 rg BT 336.20 367.55 Td ( ) Tj ET Q
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q 0 0 0 rg BT 347.11 741.75 Td (with ) Tj ET Q
q 0 0 0 rg BT 368.85 741.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 384.75 741.75 Td (excess ) Tj ET Q
q 0 0 0 rg BT 415.22 741.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 427.04 741.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 442.94 741.75 Td (purchase ) Tj ET Q
q 0 0 0 rg BT 483.33 741.75 Td (price ) Tj ET Q
q 0 0 0 rg BT 507.38 741.75 Td (over ) Tj ET Q
q 0 0 0 rg BT 529.11 741.75 Td (par ) Tj ET Q
q 0 0 0 rg BT 545.59 741.75 Td (first ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 729.15 Td (char) Tj ET Q
q 0 0 0 rg BT 67.38 729.15 Td (ged ) Tj ET Q
q 0 0 0 rg BT 85.16 729.15 Td (against ) Tj ET Q
q 0 0 0 rg BT 117.53 729.15 Td (additional ) Tj ET Q
q 0 0 0 rg BT 162.15 729.15 Td (paid-in ) Tj ET Q
q 0 0 0 rg BT 194.52 729.15 Td (capital, ) Tj ET Q
q 0 0 0 rg BT 227.75 729.15 Td (with ) Tj ET Q
q 0 0 0 rg BT 249.04 729.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 264.50 729.15 Td (remaining ) Tj ET Q
q 0 0 0 rg BT 309.69 729.15 Td (balance, ) Tj ET Q
q 0 0 0 rg BT 347.00 729.15 Td (if ) Tj ET Q
q 0 0 0 rg BT 356.04 729.15 Td (any) Tj ET Q
q 0 0 0 rg BT 370.52 729.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 375.77 729.15 Td (char) Tj ET Q
q 0 0 0 rg BT 393.65 729.15 Td (ged ) Tj ET Q
q 0 0 0 rg BT 411.43 729.15 Td (against ) Tj ET Q
q 0 0 0 rg BT 443.80 729.15 Td (retained ) Tj ET Q
q 0 0 0 rg BT 480.24 729.15 Td (earnings.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 716.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.45 716.55 Td (following ) Tj ET Q
q 0 0 0 rg BT 111.91 716.55 Td (table ) Tj ET Q
q 0 0 0 rg BT 134.94 716.55 Td (presents ) Tj ET Q
q 0 0 0 rg BT 171.97 716.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 187.42 716.55 Td (computations ) Tj ET Q
q 0 0 0 rg BT 246.63 716.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 258.00 716.55 Td (basic ) Tj ET Q
q 0 0 0 rg BT 282.20 716.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 299.98 716.55 Td (diluted ) Tj ET Q
q 0 0 0 rg BT 331.77 716.55 Td (EPS:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 676.05 271.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
321.00 676.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
325.00 676.05 78.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 676.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
407.00 676.05 78.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
485.00 676.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
489.00 676.05 72.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 646.05 271.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
321.00 646.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
325.00 646.05 78.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 646.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
407.00 646.05 78.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
485.00 646.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
489.00 646.05 72.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 616.05 271.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
321.00 616.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
325.00 616.05 78.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 616.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
407.00 616.05 78.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
485.00 616.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
489.00 616.05 72.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 586.05 271.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
321.00 586.05 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
325.00 586.05 78.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 586.05 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
407.00 586.05 78.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
485.00 586.05 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
489.00 586.05 72.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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50.00 534.05 271.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
321.00 534.05 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
325.00 534.05 78.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 534.05 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
407.00 534.05 78.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
485.00 534.05 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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489.00 534.05 72.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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50.00 494.05 271.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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321.00 494.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
325.00 494.05 78.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
403.00 494.05 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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407.00 494.05 78.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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485.00 494.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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489.00 494.05 72.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
325 691.05 m
403 691.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
403 691.05 m
407 691.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
407 691.05 m
485 691.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
485 691.05 m
489 691.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489 691.05 m
561 691.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 676.05 m
321 676.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
325 691.05 m
403 691.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
325 676.05 m
403 676.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
407 691.05 m
485 691.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
407 676.05 m
485 676.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489 691.05 m
561 691.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489 676.05 m
561 676.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
325 676.05 m
403 676.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
407 676.05 m
485 676.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489 676.05 m
561 676.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
325 631.05 m
403 631.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
407 631.05 m
485 631.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 631.05 m
321 631.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 616.05 m
321 616.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
325 631.05 m
403 631.05 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
325 616.05 m
403 616.05 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
407 631.05 m
485 631.05 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
407 616.05 m
485 616.05 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489 631.05 m
561 631.05 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
489 616.05 m
561 616.05 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
325 560.05 m
403 560.05 l
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0 0 0 RG
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[] 0 d
0 J
0 j
3 M
407 560.05 m
485 560.05 l
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0 0 0 RG
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[] 0 d
0 J
0 j
3 M
489 560.05 m
561 560.05 l
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0 0 0 RG
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[] 0 d
0 J
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3 M
50 560.05 m
321 560.05 l
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0 0 0 RG
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[] 0 d
0 J
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3 M
50 534.05 m
321 534.05 l
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[] 0 d
0 J
0 j
3 M
325 560.05 m
403 560.05 l
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0 0 0 RG
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0 i 
[] 0 d
0 J
0 j
3 M
325 534.05 m
403 534.05 l
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0 i 
[] 0 d
0 J
0 j
3 M
407 560.05 m
485 560.05 l
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[] 0 d
0 J
0 j
3 M
407 534.05 m
485 534.05 l
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0 0 0 RG
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0 i 
[] 0 d
0 J
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3 M
489 560.05 m
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 393.15 695.82 Td (Y) Tj ET Q
q 0 0 0 rg BT 399.68 695.82 Td (ears Ended March 31,) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 680.82 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 353.00 680.84 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 435.00 680.82 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 514.00 680.82 Td (2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 665.82 Td (Basic weighted-average shares outstanding for EPS) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 370.10 665.84 Td (90,734) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 446.85 665.82 Td (100,580) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 522.85 665.82 Td (107,406) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 650.82 Td (Potential common shares:) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 64.50 635.82 Td (Dilutive employee stock options) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 383.25 635.84 Td (460) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 465.25 635.82 Td (219) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 546.50 635.82 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 620.82 Td (Diluted weighted-average shares outstanding for EPS) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 370.10 620.84 Td (91,194) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 446.85 620.82 Td (100,799) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 522.85 620.82 Td (107,406) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 590.82 Td (Net Income \(Loss\) ) Tj ET Q
q 0 0 0 rg BT 133.27 590.82 Td (Attributable to�Legg Mason, Inc.) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 327.50 590.84 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 364.85 590.84 Td (285,075) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.50 590.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 446.85 590.82 Td (227,256) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 491.50 590.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.60 590.82 Td (\(25,032) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 557.00 590.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 64.50 575.32 Td (Less: Earnings \(distributed and undistributed\) allocated to) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 78.00 564.82 Td (participating securities) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 370.10 564.84 Td (10,128) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 457.35 564.82 Td (7,384) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.35 564.82 Td (2,288) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 549.32 Td (Net Income \(Loss\) \(Distributed and Undistributed\) ) Tj ET Q
q 0 0 0 rg BT 268.58 549.32 Td (Allocated) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 66.00 538.82 Td (to Shareholders \(Excluding Participating Securities\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 327.50 538.84 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 364.85 538.84 Td (274,947) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.50 538.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 446.85 538.82 Td (219,872) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 491.50 538.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.60 538.82 Td (\(27,320) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 557.00 538.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 509.32 Td (Net Income \(Loss\) per share ) Tj ET Q
q 0 0 0 rg BT 174.08 509.32 Td (Attributable to Legg Mason, Inc.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 66.00 498.82 Td (Shareholders) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 66.00 483.82 Td (Basic) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 327.50 483.84 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 380.60 483.84 Td (3.03) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.50 483.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 462.60 483.82 Td (2.19) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 491.50 483.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 535.10 483.82 Td (\(0.25) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 557.00 483.82 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 66.00 468.82 Td (Diluted) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 380.60 468.84 Td (3.01) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 462.60 468.82 Td (2.18) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 491.50 468.82 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 535.10 468.82 Td (\(0.25) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 557.00 468.82 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 68.42 439.35 Td (weighted-average ) Tj ET Q
q 0 0 0 rg BT 145.64 439.35 Td (shares ) Tj ET Q
q 0 0 0 rg BT 174.47 439.35 Td (exclude ) Tj ET Q
q 0 0 0 rg BT 209.71 439.35 Td (weighted-average ) Tj ET Q
q 0 0 0 rg BT 286.93 439.35 Td (unvested ) Tj ET Q
q 0 0 0 rg BT 326.85 439.35 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 368.50 439.35 Td (shares ) Tj ET Q
q 0 0 0 rg BT 397.34 439.35 Td (deemed ) Tj ET Q
q 0 0 0 rg BT 432.58 439.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 443.34 439.35 Td (be ) Tj ET Q
q 0 0 0 rg BT 455.84 439.35 Td (participating ) Tj ET Q
q 0 0 0 rg BT 511.50 439.35 Td (securities ) Tj ET Q
q 0 0 0 rg BT 553.75 439.35 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 426.75 Td (3,327) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 73.13 426.75 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 78.38 426.75 Td (3,335) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 102.00 426.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 107.25 426.75 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 125.04 426.75 Td (2,831) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 148.66 426.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 151.29 426.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 166.15 426.75 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 181.61 426.75 Td (years) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 203.76 426.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 206.39 426.75 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 234.08 426.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 264.11 426.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 279.86 426.75 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 300.86 426.75 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 306.11 426.75 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 327.11 426.75 Td (, ) Tj ET Q
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q 0 0 0 rg BT 278.85 666.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 294.30 666.30 Td (yen, ) Tj ET Q
q 0 0 0 rg BT 314.71 666.30 Td (are ) Tj ET Q
q 0 0 0 rg BT 330.16 666.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 345.61 666.30 Td (functional ) Tj ET Q
q 0 0 0 rg BT 390.80 666.30 Td (currencies, ) Tj ET Q
q 0 0 0 rg BT 439.19 666.30 Td (respectively) Tj ET Q
q 0 0 0 rg BT 489.24 666.30 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 641.70 Td (A) Tj ET Q
q 0 0 0 rg BT 56.50 641.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 59.13 641.70 Td (summary ) Tj ET Q
q 0 0 0 rg BT 100.83 641.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 112.20 641.70 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 136.40 641.70 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 173.59 641.70 Td (accumulated ) Tj ET Q
q 0 0 0 rg BT 229.27 641.70 Td (other ) Tj ET Q
q 0 0 0 rg BT 253.47 641.70 Td (comprehensive ) Tj ET Q
q 0 0 0 rg BT 319.66 641.70 Td (loss ) Tj ET Q
q 0 0 0 rg BT 338.62 641.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 349.99 641.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 361.37 641.70 Td (March�31, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 407.14 641.70 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 428.14 641.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 430.77 641.70 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 448.56 641.70 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 469.56 641.70 Td (, ) Tj ET Q
q 0 0 0 rg BT 474.81 641.70 Td (is ) Tj ET Q
q 0 0 0 rg BT 484.43 641.70 Td (as ) Tj ET Q
q 0 0 0 rg BT 495.81 641.70 Td (follows: ) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 616.20 394.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 616.20 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 616.20 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 616.20 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 616.20 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 586.20 394.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 586.20 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 586.20 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 586.20 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 586.20 55.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 616.2 m
444 616.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
448 616.2 m
503 616.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
507 616.2 m
562 616.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 616.2 m
444 616.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
448 616.2 m
503 616.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
507 616.2 m
562 616.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 586.2 m
444 586.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
448 586.2 m
503 586.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
507 586.2 m
562 586.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50 571.2 m
444 571.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
448 571.2 m
503 571.2 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
507 571.2 m
562 571.2 l
s
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 464.50 620.99 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 523.50 620.97 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 605.97 Td (Foreign currency translation adjustment) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 450.50 605.99 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 466.60 605.99 Td (\(41,547) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 499.00 605.99 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 509.50 605.97 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 525.60 605.97 Td (\(90,103) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 605.97 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 590.97 Td (Changes in defined benefit pension plan) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 466.60 590.99 Td (\(13,635) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 499.00 590.99 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 525.60 590.97 Td (\(16,681) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 590.97 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 575.97 Td (T) Tj ET Q
q 0 0 0 rg BT 58.18 575.97 Td (otal ) Tj ET Q
q 0 0 0 rg BT 75.97 575.97 Td (Accumulated other comprehensive loss) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 450.50 575.99 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 466.60 575.99 Td (\(55,182) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 499.00 575.99 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 509.50 575.97 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 520.35 575.97 Td (\(106,784) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 558.00 575.97 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 546.50 Td (There ) Tj ET Q
q 0 0 0 rg BT 76.13 546.50 Td (were ) Tj ET Q
q 0 0 0 rg BT 98.67 546.50 Td (no ) Tj ET Q
q 0 0 0 rg BT 111.32 546.50 Td (significant ) Tj ET Q
q 0 0 0 rg BT 157.79 546.50 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 195.51 546.50 Td (reclassified ) Tj ET Q
q 0 0 0 rg BT 245.47 546.50 Td (from ) Tj ET Q
q 0 0 0 rg BT 267.55 546.50 Td (Accumulated ) Tj ET Q
q 0 0 0 rg BT 325.67 546.50 Td (other ) Tj ET Q
q 0 0 0 rg BT 349.39 546.50 Td (comprehensive ) Tj ET Q
q 0 0 0 rg BT 415.10 546.50 Td (loss ) Tj ET Q
q 0 0 0 rg BT 433.58 546.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 443.89 546.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 458.87 546.50 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 516.42 546.50 Td (Statements ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 533.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.62 533.90 Td (Income ) Tj ET Q
q 0 0 0 rg BT 94.48 533.90 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 123.68 533.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 138.30 533.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 153.50 533.90 Td (years ) Tj ET Q
q 0 0 0 rg BT 178.02 533.90 Td (ended ) Tj ET Q
q 0 0 0 rg BT 205.47 533.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 235.24 533.90 Td (31, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 250.74 533.90 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 271.74 533.90 Td (, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 276.74 533.90 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 297.74 533.90 Td (, ) Tj ET Q
q 0 0 0 rg BT 302.74 533.90 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 313.86 533.90 Td (2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 334.86 533.90 Td (, ) Tj ET Q
q 0 0 0 rg BT 339.85 533.90 Td (except ) Tj ET Q
q 0 0 0 rg BT 369.63 533.90 Td (as ) Tj ET Q
q 0 0 0 rg BT 380.74 533.90 Td (follows. ) Tj ET Q
q 0 0 0 rg BT 417.24 533.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 419.09 533.90 Td (As ) Tj ET Q
q 0 0 0 rg BT 433.13 533.90 Td (further ) Tj ET Q
q 0 0 0 rg BT 464.07 533.90 Td (discussed ) Tj ET Q
q 0 0 0 rg BT 506.70 533.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 517.24 533.90 Td (Note ) Tj ET Q
q 0 0 0 rg BT 540.02 533.90 Td (2, ) Tj ET Q
q 0 0 0 rg BT 550.27 533.90 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 521.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 64.68 521.30 Td (year ) Tj ET Q
q 0 0 0 rg BT 85.11 521.30 Td (ended ) Tj ET Q
q 0 0 0 rg BT 112.54 521.30 Td (March ) Tj ET Q
q 0 0 0 rg BT 142.30 521.30 Td (31, ) Tj ET Q
q 0 0 0 rg BT 157.78 521.30 Td (2018, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 183.76 521.30 Td ($492) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 204.76 521.30 Td ( ) Tj ET Q
q 0 0 0 rg BT 207.11 521.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 218.22 521.30 Td (previously ) Tj ET Q
q 0 0 0 rg BT 264.90 521.30 Td (unrecognized ) Tj ET Q
q 0 0 0 rg BT 323.81 521.30 Td (losses ) Tj ET Q
q 0 0 0 rg BT 351.26 521.30 Td (on ) Tj ET Q
q 0 0 0 rg BT 364.11 521.30 Td (a ) Tj ET Q
q 0 0 0 rg BT 371.13 521.30 Td (defined ) Tj ET Q
q 0 0 0 rg BT 404.97 521.30 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 436.48 521.30 Td (pension ) Tj ET Q
q 0 0 0 rg BT 471.50 521.30 Td (plan ) Tj ET Q
q 0 0 0 rg BT 491.93 521.30 Td (were ) Tj ET Q
q 0 0 0 rg BT 514.69 521.30 Td (reclassified ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 508.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 59.77 508.70 Td (Compensation ) Tj ET Q
q 0 0 0 rg BT 122.54 508.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 139.81 508.70 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 175.15 508.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 185.43 508.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 200.36 508.70 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 257.88 508.70 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 306.07 508.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 316.92 508.70 Td (Income ) Tj ET Q
q 0 0 0 rg BT 350.51 508.70 Td (\(Loss\). ) Tj ET Q
q 0 0 0 rg BT 382.07 508.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 384.18 508.70 Td (For ) Tj ET Q
q 0 0 0 rg BT 400.87 508.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 415.80 508.70 Td (year ) Tj ET Q
q 0 0 0 rg BT 435.98 508.70 Td (ended ) Tj ET Q
q 0 0 0 rg BT 463.15 508.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 492.66 508.70 Td (31, ) Tj ET Q
q 0 0 0 rg BT 507.90 508.70 Td (2017, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.63 508.70 Td ($2,493) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 496.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.94 496.10 Td (cumulative ) Tj ET Q
q 0 0 0 rg BT 110.28 496.10 Td (foreign ) Tj ET Q
q 0 0 0 rg BT 143.30 496.10 Td (currency ) Tj ET Q
q 0 0 0 rg BT 182.72 496.10 Td (translation ) Tj ET Q
q 0 0 0 rg BT 229.73 496.10 Td (related ) Tj ET Q
q 0 0 0 rg BT 260.99 496.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 271.85 496.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 287.37 496.10 Td (sale ) Tj ET Q
q 0 0 0 rg BT 306.39 496.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 317.83 496.10 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 342.10 496.10 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 373.37 496.10 Td (Poland ) Tj ET Q
q 0 0 0 rg BT 405.23 496.10 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 423.09 496.10 Td ($2,718) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 451.96 496.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 457.28 496.10 Td (net ) Tj ET Q
q 0 0 0 rg BT 472.80 496.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 484.24 496.10 Td (income ) Tj ET Q
q 0 0 0 rg BT 517.84 496.10 Td (tax ) Tj ET Q
q 0 0 0 rg BT 533.36 496.10 Td (benefit ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 483.50 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 60.13 483.50 Td ($1,708) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 89.01 483.50 Td (, ) Tj ET Q
q 0 0 0 rg BT 93.52 483.50 Td (realized ) Tj ET Q
q 0 0 0 rg BT 128.64 483.50 Td (on ) Tj ET Q
q 0 0 0 rg BT 141.02 483.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 155.74 483.50 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 200.78 483.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 217.83 483.50 Td (termination ) Tj ET Q
q 0 0 0 rg BT 268.13 483.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 278.76 483.50 Td (an ) Tj ET Q
q 0 0 0 rg BT 290.56 483.50 Td (interest ) Tj ET Q
q 0 0 0 rg BT 323.35 483.50 Td (rate ) Tj ET Q
q 0 0 0 rg BT 340.98 483.50 Td (swap, ) Tj ET Q
q 0 0 0 rg BT 367.07 483.50 Td (as ) Tj ET Q
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q 0 0 0 rg BT 408.16 483.50 Td (described ) Tj ET Q
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q 0 0 0 rg BT 460.34 483.50 Td (Note ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 482.64 483.50 Td (6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 487.89 483.50 Td (, ) Tj ET Q
q 0 0 0 rg BT 492.40 483.50 Td (were ) Tj ET Q
q 0 0 0 rg BT 514.69 483.50 Td (reclassified ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 60.28 470.90 Td (Other ) Tj ET Q
q 0 0 0 rg BT 86.80 470.90 Td (non-operating ) Tj ET Q
q 0 0 0 rg BT 148.32 470.90 Td (income ) Tj ET Q
q 0 0 0 rg BT 181.84 470.90 Td (\(expense\) ) Tj ET Q
q 0 0 0 rg BT 225.27 470.90 Td (in ) Tj ET Q
q 0 0 0 rg BT 236.05 470.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 251.49 470.90 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 309.52 470.90 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 358.21 470.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 369.57 470.90 Td (Income ) Tj ET Q
q 0 0 0 rg BT 403.67 470.90 Td (\(Loss\). ) Tj ET Q
q 0 0 0 rg BT 435.74 470.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 438.36 470.90 Td (For ) Tj ET Q
q 0 0 0 rg BT 455.56 470.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 471.00 470.90 Td (year ) Tj ET Q
q 0 0 0 rg BT 491.69 470.90 Td (ended ) Tj ET Q
q 0 0 0 rg BT 519.37 470.90 Td (March ) Tj ET Q
q 0 0 0 rg BT 549.39 470.90 Td (31, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 458.30 Td (2016, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 76.06 458.30 Td ($405) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 97.06 458.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 102.63 458.30 Td (net ) Tj ET Q
q 0 0 0 rg BT 118.39 458.30 Td (of ) Tj ET Q
q 0 0 0 rg BT 130.08 458.30 Td (income ) Tj ET Q
q 0 0 0 rg BT 163.92 458.30 Td (tax ) Tj ET Q
q 0 0 0 rg BT 179.69 458.30 Td (provision ) Tj ET Q
q 0 0 0 rg BT 222.29 458.30 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 233.98 458.30 Td ($233) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 254.98 458.30 Td (, ) Tj ET Q
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q 0 0 0 rg BT 325.91 458.30 Td (termination ) Tj ET Q
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q 0 0 0 rg BT 466.54 458.30 Td (rate ) Tj ET Q
q 0 0 0 rg BT 485.21 458.30 Td (lock ) Tj ET Q
q 0 0 0 rg BT 506.23 458.30 Td (contract, ) Tj ET Q
q 0 0 0 rg BT 545.60 458.30 Td (also ) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 159.30 445.70 Td (6) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 164.55 445.70 Td (, ) Tj ET Q
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q 0 0 0 rg BT 251.91 445.70 Td (Other ) Tj ET Q
q 0 0 0 rg BT 278.92 445.70 Td (non-operating ) Tj ET Q
q 0 0 0 rg BT 340.92 445.70 Td (income ) Tj ET Q
q 0 0 0 rg BT 374.94 445.70 Td (\(expense\) ) Tj ET Q
q 0 0 0 rg BT 418.85 445.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 430.13 445.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 446.06 445.70 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 504.58 445.70 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 553.76 445.70 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 433.10 Td (Income ) Tj ET Q
q 0 0 0 rg BT 83.61 433.10 Td (\(Loss\).) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 50.00 407.90 Td (14) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 60.50 407.90 Td (. ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 65.75 407.90 Td (NONCONTROLLING ) Tj ET Q
q 0 0 0 rg BT 171.64 407.90 Td (INTERESTS) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 230.59 407.90 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 382.70 Td (Net ) Tj ET Q
q 0 0 0 rg BT 67.79 382.70 Td (income ) Tj ET Q
q 0 0 0 rg BT 101.32 382.70 Td (\(loss\) ) Tj ET Q
q 0 0 0 rg BT 127.28 382.70 Td (attributable ) Tj ET Q
q 0 0 0 rg BT 177.72 382.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 188.51 382.70 Td (noncontrolling ) Tj ET Q
q 0 0 0 rg BT 252.96 382.70 Td (interests ) Tj ET Q
q 0 0 0 rg BT 290.58 382.70 Td (for ) Tj ET Q
q 0 0 0 rg BT 305.45 382.70 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 320.90 382.70 Td (years) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 343.06 382.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 345.68 382.70 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 373.38 382.70 Td (March ) Tj ET Q
q 0 0 0 rg BT 403.41 382.70 Td (31) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 413.91 382.70 Td (, ) Tj ET Q
q 0 0 0 rg BT 419.16 382.70 Td (included ) Tj ET Q
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0.8 0.9333333333333333 1 rg
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281.50 410.65 4.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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285.50 410.65 72.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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357.50 410.65 4.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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361.50 410.65 62.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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423.50 410.65 4.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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427.50 410.65 56.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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483.50 410.65 4.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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487.50 410.65 74.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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49.50 369.65 164.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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213.50 369.65 4.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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217.50 369.65 64.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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281.50 369.65 4.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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285.50 369.65 72.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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357.50 369.65 4.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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361.50 369.65 62.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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423.50 369.65 4.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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427.50 369.65 56.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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483.50 369.65 4.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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487.50 369.65 74.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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49.50 317.65 164.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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213.50 317.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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217.50 317.65 64.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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281.50 317.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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285.50 317.65 72.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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357.50 317.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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361.50 317.65 62.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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423.50 317.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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427.50 317.65 56.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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483.50 317.65 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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487.50 317.65 74.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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49.50 287.65 164.00 -26.00 re f
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213.50 287.65 4.00 -26.00 re f
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217.50 287.65 64.00 -26.00 re f
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0.8 0.9333333333333333 1 rg
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285.50 287.65 72.00 -26.00 re f
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357.50 287.65 4.00 -26.00 re f
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361.50 287.65 62.00 -26.00 re f
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423.50 287.65 4.00 -26.00 re f
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427.50 287.65 56.00 -26.00 re f
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483.50 287.65 4.00 -26.00 re f
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1.00 w
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[] 0 d
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3 M
217.5 703.65 m
281.5 703.65 l
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1.00 w
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3 M
281.5 703.65 m
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3 M
285.5 703.65 m
357.5 703.65 l
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3 M
357.5 703.65 m
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3 M
361.5 703.65 m
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3 M
423.5 703.65 m
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3 M
427.5 703.65 m
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3 M
285.5 688.65 m
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357.5 688.65 m
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361.5 688.65 m
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1.00 w
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[] 0 d
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3 M
217.5 653.65 m
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1.00 w
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3 M
285.5 653.65 m
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3 M
361.5 653.65 m
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3 M
427.5 653.65 m
483.5 653.65 l
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3 M
487.5 653.65 m
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49.5 653.65 m
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217.5 653.65 m
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285.5 653.65 m
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361.5 653.65 m
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427.5 653.65 m
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49.5 526.65 m
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3 M
285.5 526.65 m
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361.5 526.65 m
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1.00 w
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3 M
427.5 526.65 m
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[] 0 d
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3 M
487.5 526.65 m
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1.00 w
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3 M
49.5 526.65 m
213.5 526.65 l
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0 0 0 RG
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1.00 w
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3 M
217.5 526.65 m
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0 0 0 RG
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1.00 w
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[] 0 d
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3 M
285.5 526.65 m
357.5 526.65 l
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0 0 0 RG
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1.00 w
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[] 0 d
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3 M
361.5 526.65 m
423.5 526.65 l
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0 0 0 RG
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1.00 w
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[] 0 d
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3 M
427.5 526.65 m
483.5 526.65 l
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0 0 0 RG
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1.00 w
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[] 0 d
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3 M
49.5 384.65 m
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
217.5 384.65 m
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0 0 0 RG
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1.00 w
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[] 0 d
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3 M
285.5 384.65 m
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1.00 w
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[] 0 d
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3 M
361.5 384.65 m
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
427.5 384.65 m
483.5 384.65 l
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1.00 w
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[] 0 d
0 J
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3 M
487.5 384.65 m
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0 0 0 RG
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1.00 w
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[] 0 d
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3 M
217.5 384.65 m
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0 0 0 RG
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1.00 w
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[] 0 d
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3 M
285.5 384.65 m
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0 0 0 RG
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1.00 w
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[] 0 d
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3 M
361.5 384.65 m
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1.00 w
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[] 0 d
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3 M
427.5 384.65 m
483.5 384.65 l
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49.5 261.65 m
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49.5 246.64999999999998 m
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217.5 261.65 m
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0 0 0 RG
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217.5 246.64999999999998 m
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285.5 261.65 m
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285.5 246.64999999999998 m
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361.5 261.65 m
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361.5 246.64999999999998 m
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427.5 261.65 m
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427.5 246.64999999999998 m
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487.5 261.65 m
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 273.00 708.42 Td (Redeemable noncontrolling interests) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 221.25 689.92 Td (Consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 225.95 679.42 Td (investment ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 227.80 668.92 Td (vehicles) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 262.20 673.68 Td (\(1\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 270.16 668.92 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 229.30 658.42 Td (and other) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 336.30 693.42 Td (Af) Tj ET Q
q 0 0 0 rg BT 347.28 693.42 Td (filiate) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 288.90 668.92 Td (Noncontrolling) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 303.20 658.42 Td (Interests) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 364.55 668.92 Td (Management) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 366.45 658.42 Td (equity plans) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 444.25 658.42 Td (T) Tj ET Q
q 0 0 0 rg BT 449.93 658.42 Td (otal) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 490.75 678.87 Td (Nonredeemable ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 493.05 668.37 Td (noncontrolling ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 502.50 657.87 Td (interests) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 537.49 662.63 Td (\(2\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.00 643.42 Td (V) Tj ET Q
q 0 0 0 rg BT 59.00 643.42 Td (alue as of March 31, 2015) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 220.00 643.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 248.60 643.42 Td (36,549) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 288.00 643.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 329.85 643.42 Td (1,949) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 364.00 643.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 395.85 643.42 Td (7,022) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 430.00 643.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 450.60 643.42 Td (45,520) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 490.00 643.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 547.00 643.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.00 627.92 Td (Net income \(loss\) attributable to) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 61.00 617.42 Td (noncontrolling interests) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 245.10 617.42 Td (\(1) Tj ET Q
q 0 0 0 rg BT 253.85 617.42 Td (1,052) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 277.50 617.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 329.85 617.42 Td (2,372) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.00 617.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 452.35 617.42 Td (\(8,680) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 479.50 617.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 541.75 617.42 Td (802) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.00 602.42 Td (Net subscriptions \(redemptions\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 248.60 602.42 Td (68,639) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 326.35 602.42 Td (\(1,981) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 353.50 602.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.00 602.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 450.60 602.42 Td (66,658) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 547.00 602.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.00 587.42 Td (Grants \(settlements\), net) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 267.00 587.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 343.00 587.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 400.25 587.42 Td (\(345) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 419.50 587.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 460.25 587.42 Td (\(345) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 479.50 587.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 528.60 587.42 Td (21,400) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.00 572.42 Td (Business acquisition) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 267.00 572.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 324.60 572.42 Td (62,722) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.00 572.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 450.60 572.42 Td (62,722) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 547.00 572.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.00 557.42 Td (Foreign exchange) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 267.00 557.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 329.85 557.42 Td (3,860) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 409.00 557.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 455.85 557.42 Td (3,860) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 547.00 557.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.00 541.92 Td (V) Tj ET Q
q 0 0 0 rg BT 59.00 541.92 Td (esting/change in estimated) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 61.00 531.42 Td (redemption value) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 267.00 531.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 343.00 531.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 395.85 531.42 Td (6,050) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 455.85 531.42 Td (6,050) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 547.00 531.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.00 516.42 Td (Balance as of March 31, 2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 248.60 516.42 Td (94,136) Tj ET Q
BT /F1 10.50 Tf ET
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300 703.65 l
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.35 540.42 Td (2,531) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 525.42 Td (Distributions) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 332.85 525.42 Td (\(4,298) Tj ET Q
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.00 525.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.60 525.42 Td (\(29,461) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 478.25 510.42 Td (317) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 522.85 510.42 Td (508,817) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 495.42 Td (Foreign exchange) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 285.50 495.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 349.50 495.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 410.75 495.42 Td (\(153) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 430.00 495.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 483.50 495.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 537.75 495.42 Td (\(153) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 557.00 495.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 480.42 Td (Balance as of March 31, 2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 261.85 480.42 Td (404,852) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 325.85 480.42 Td (1) Tj ET Q
q 0 0 0 rg BT 331.10 480.42 Td (13,173) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 401.10 480.42 Td (68,747) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 470.35 480.42 Td (4,482) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 522.85 480.42 Td (591,254) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 464.92 Td (Net income \(loss\) attributable to) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 61.50 454.42 Td (noncontrolling interests) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 267.10 454.42 Td (19,709) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 331.10 454.42 Td (13,172) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 406.35 454.42 Td (3,474) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 474.75 454.42 Td (\(139) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.00 454.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 528.10 454.42 Td (36,216) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 439.42 Td (Subscriptions \(redemptions\), net) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 285.50 439.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 349.50 439.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 419.50 439.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 466.85 439.42 Td (\(2,693) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.00 439.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.85 439.42 Td (\(2,693) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 557.00 439.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 424.42 Td (Distributions) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 263.60 424.42 Td (\(37,677) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 296.00 424.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 327.60 424.42 Td (\(1) Tj ET Q
q 0 0 0 rg BT 336.35 424.42 Td (1,253) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 360.00 424.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 402.85 424.42 Td (\(4,317) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 430.00 424.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 474.75 424.42 Td (\(141) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.00 424.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 524.60 424.42 Td (\(53,388) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 557.00 424.42 Td (\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 409.42 Td (Foreign exchange) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 285.50 409.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 349.50 409.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 414.25 409.42 Td (381) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 483.50 409.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 541.25 409.42 Td (381) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.50 394.42 Td (Change in estimated redemption value) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 285.50 394.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 336.35 394.42 Td (2,180) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 419.50 394.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 483.50 394.42 Td (�) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 533.35 394.42 Td (2,180) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 52.50 379.44 Td (Balance as of Mar) Tj ET Q
q 0 0 0 rg BT 133.67 379.44 Td (ch 31, 2018) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 242.50 379.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 261.85 379.44 Td (386,884) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 306.50 379.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 325.85 379.44 Td (1) Tj ET Q
q 0 0 0 rg BT 331.10 379.44 Td (17,272) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 370.50 379.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 401.10 379.44 Td (68,285) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 440.50 379.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 470.35 379.44 Td (1,509) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 504.50 379.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 522.85 379.44 Td (573,950) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.00 Tf ET
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 50.00 348.55 Td (15) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 60.50 348.55 Td (. ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 65.75 348.55 Td (DERIV) Tj ET Q
q 0 0 0 rg BT 98.24 348.55 Td (A) Tj ET Q
q 0 0 0 rg BT 105.04 348.55 Td (TIVES ) Tj ET Q
q 0 0 0 rg BT 138.60 348.55 Td (AND ) Tj ET Q
q 0 0 0 rg BT 163.98 348.55 Td (HEDGING) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 214.73 348.55 Td ( ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 323.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 73.75 323.35 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 104.52 323.35 Td (uses ) Tj ET Q
q 0 0 0 rg BT 124.78 323.35 Td (currency ) Tj ET Q
q 0 0 0 rg BT 163.68 323.35 Td (forwards ) Tj ET Q
q 0 0 0 rg BT 203.18 323.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 213.53 323.35 Td (economically ) Tj ET Q
q 0 0 0 rg BT 272.27 323.35 Td (hedge ) Tj ET Q
q 0 0 0 rg BT 299.52 323.35 Td (the ) Tj ET Q
q 0 0 0 rg BT 314.53 323.35 Td (risk ) Tj ET Q
q 0 0 0 rg BT 332.46 323.35 Td (of ) Tj ET Q
q 0 0 0 rg BT 343.38 323.35 Td (movements ) Tj ET Q
q 0 0 0 rg BT 393.97 323.35 Td (in ) Tj ET Q
q 0 0 0 rg BT 404.32 323.35 Td (exchange ) Tj ET Q
q 0 0 0 rg BT 446.14 323.35 Td (rates, ) Tj ET Q
q 0 0 0 rg BT 470.77 323.35 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 512.02 323.35 Td (between ) Tj ET Q
q 0 0 0 rg BT 549.18 323.35 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 310.75 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 70.75 310.75 Td (dollar) Tj ET Q
q 0 0 0 rg BT 94.83 310.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 99.53 310.75 Td (British ) Tj ET Q
q 0 0 0 rg BT 130.20 310.75 Td (pound, ) Tj ET Q
q 0 0 0 rg BT 160.70 310.75 Td (Australian ) Tj ET Q
q 0 0 0 rg BT 206.52 310.75 Td (dollar) Tj ET Q
q 0 0 0 rg BT 230.59 310.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 235.30 310.75 Td (Singapore ) Tj ET Q
q 0 0 0 rg BT 279.96 310.75 Td (dollar) Tj ET Q
q 0 0 0 rg BT 304.03 310.75 Td (, ) Tj ET Q
q 0 0 0 rg BT 308.74 310.75 Td (Japanese ) Tj ET Q
q 0 0 0 rg BT 348.13 310.75 Td (yen, ) Tj ET Q
q 0 0 0 rg BT 368.00 310.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 385.24 310.75 Td (euro. ) Tj ET Q
q 0 0 0 rg BT 408.61 310.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 410.23 310.75 Td (All ) Tj ET Q
q 0 0 0 rg BT 425.73 310.75 Td (derivative ) Tj ET Q
q 0 0 0 rg BT 469.79 310.75 Td (transactions ) Tj ET Q
q 0 0 0 rg BT 522.03 310.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 536.35 310.75 Td (which ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 298.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 73.66 298.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 104.32 298.15 Td (has ) Tj ET Q
q 0 0 0 rg BT 120.40 298.15 Td (certain ) Tj ET Q
q 0 0 0 rg BT 151.05 298.15 Td (legally ) Tj ET Q
q 0 0 0 rg BT 181.71 298.15 Td (enforceable ) Tj ET Q
q 0 0 0 rg BT 232.75 298.15 Td (rights ) Tj ET Q
q 0 0 0 rg BT 258.76 298.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 269.58 298.15 Td (setof) Tj ET Q
q 0 0 0 rg BT 289.81 298.15 Td (f ) Tj ET Q
q 0 0 0 rg BT 295.39 298.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 310.29 298.15 Td (governed ) Tj ET Q
q 0 0 0 rg BT 351.44 298.15 Td (by ) Tj ET Q
q 0 0 0 rg BT 364.02 298.15 Td (International ) Tj ET Q
q 0 0 0 rg BT 419.75 298.15 Td (Swaps ) Tj ET Q
q 0 0 0 rg BT 449.25 298.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 466.50 298.15 Td (Derivative ) Tj ET Q
q 0 0 0 rg BT 512.43 298.15 Td (Association ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 285.55 Td (\("ISDA"\) ) Tj ET Q
q 0 0 0 rg BT 92.74 285.55 Td (Master ) Tj ET Q
q 0 0 0 rg BT 123.98 285.55 Td (Agreements. ) Tj ET Q
q 0 0 0 rg BT 180.01 285.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 182.68 285.55 Td (For ) Tj ET Q
q 0 0 0 rg BT 199.94 285.55 Td (these ) Tj ET Q
q 0 0 0 rg BT 224.18 285.55 Td (derivative ) Tj ET Q
q 0 0 0 rg BT 268.84 285.55 Td (transactions, ) Tj ET Q
q 0 0 0 rg BT 324.29 285.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 348.53 285.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 379.79 285.55 Td (has ) Tj ET Q
q 0 0 0 rg BT 396.46 285.55 Td (one ) Tj ET Q
q 0 0 0 rg BT 414.29 285.55 Td (ISDA) Tj ET Q
q 0 0 0 rg BT 438.21 285.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 440.88 285.55 Td (Master ) Tj ET Q
q 0 0 0 rg BT 472.12 285.55 Td (Agreement ) Tj ET Q
q 0 0 0 rg BT 521.44 285.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 542.78 285.55 Td (each ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 272.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 60.90 272.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 75.89 272.95 Td (significant ) Tj ET Q
q 0 0 0 rg BT 122.37 272.95 Td (counterparties, ) Tj ET Q
q 0 0 0 rg BT 186.63 272.95 Td (which ) Tj ET Q
q 0 0 0 rg BT 214.45 272.95 Td (covers ) Tj ET Q
q 0 0 0 rg BT 244.01 272.95 Td (transactions ) Tj ET Q
q 0 0 0 rg BT 296.32 272.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 317.14 272.95 Td (that ) Tj ET Q
q 0 0 0 rg BT 335.05 272.95 Td (counterparty) Tj ET Q
q 0 0 0 rg BT 387.42 272.95 Td (. ) Tj ET Q
q 0 0 0 rg BT 392.21 272.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 394.36 272.95 Td (Each ) Tj ET Q
q 0 0 0 rg BT 417.51 272.95 Td (of ) Tj ET Q
q 0 0 0 rg BT 428.41 272.95 Td (the ) Tj ET Q
q 0 0 0 rg BT 443.40 272.95 Td (respective ) Tj ET Q
q 0 0 0 rg BT 488.11 272.95 Td (ISDA) Tj ET Q
q 0 0 0 rg BT 512.04 272.95 Td ( ) Tj ET Q
q 0 0 0 rg BT 514.19 272.95 Td (agreements ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 260.35 Td (provides ) Tj ET Q
q 0 0 0 rg BT 87.50 260.35 Td (for ) Tj ET Q
q 0 0 0 rg BT 101.08 260.35 Td (settlement ) Tj ET Q
q 0 0 0 rg BT 145.58 260.35 Td (netting ) Tj ET Q
q 0 0 0 rg BT 176.08 260.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 192.58 260.35 Td (close-out ) Tj ET Q
q 0 0 0 rg BT 232.40 260.35 Td (netting ) Tj ET Q
q 0 0 0 rg BT 262.90 260.35 Td (between ) Tj ET Q
q 0 0 0 rg BT 299.23 260.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 322.14 260.35 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 352.06 260.35 Td (and ) Tj ET Q
q 0 0 0 rg BT 368.56 260.35 Td (that ) Tj ET Q
q 0 0 0 rg BT 385.64 260.35 Td (counterparty) Tj ET Q
q 0 0 0 rg BT 438.02 260.35 Td (, ) Tj ET Q
q 0 0 0 rg BT 441.99 260.35 Td (which ) Tj ET Q
q 0 0 0 rg BT 468.98 260.35 Td (are ) Tj ET Q
q 0 0 0 rg BT 483.14 260.35 Td (legally ) Tj ET Q
q 0 0 0 rg BT 513.05 260.35 Td (enforceable ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 247.75 Td (rights ) Tj ET Q
q 0 0 0 rg BT 76.23 247.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 86.71 247.75 Td (setof) Tj ET Q
q 0 0 0 rg BT 106.93 247.75 Td (f. ) Tj ET Q
q 0 0 0 rg BT 115.37 247.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 117.68 247.75 Td (Other ) Tj ET Q
q 0 0 0 rg BT 143.90 247.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 170.71 247.75 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 209.75 247.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 220.23 247.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 235.37 247.75 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 293.09 247.75 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 329.22 247.75 Td (Sheets ) Tj ET Q
q 0 0 0 rg BT 358.95 247.75 Td (as ) Tj ET Q
q 0 0 0 rg BT 370.01 247.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 381.07 247.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 410.78 247.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 426.22 247.75 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 447.22 247.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 449.53 247.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 467.01 247.75 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 492.94 247.75 Td (were ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 515.66 247.75 Td ($4,904) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 544.53 247.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 546.84 247.75 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 235.15 Td ($2,718) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 78.88 235.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 84.40 235.15 Td (respectively) Tj ET Q
q 0 0 0 rg BT 134.45 235.15 Td (. ) Tj ET Q
q 0 0 0 rg BT 139.98 235.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 142.88 235.15 Td (Other ) Tj ET Q
q 0 0 0 rg BT 169.70 235.15 Td (liabilities ) Tj ET Q
q 0 0 0 rg BT 211.68 235.15 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 251.31 235.15 Td (in ) Tj ET Q
q 0 0 0 rg BT 262.38 235.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 278.11 235.15 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 336.43 235.15 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 373.15 235.15 Td (Sheets ) Tj ET Q
q 0 0 0 rg BT 403.47 235.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 415.12 235.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 426.77 235.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 457.08 235.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 473.11 235.15 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 494.11 235.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 497.01 235.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 515.08 235.15 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 541.61 235.15 Td (were ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 222.55 Td ($6,446) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 78.88 222.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 81.50 222.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 99.29 222.55 Td ($4,522) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 128.16 222.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 133.41 222.55 Td (respectively) Tj ET Q
q 0 0 0 rg BT 183.46 222.55 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 197.35 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 74.81 197.35 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 106.64 197.35 Td (also ) Tj ET Q
q 0 0 0 rg BT 126.79 197.35 Td (uses ) Tj ET Q
q 0 0 0 rg BT 148.11 197.35 Td (market ) Tj ET Q
q 0 0 0 rg BT 180.50 197.35 Td (hedges ) Tj ET Q
q 0 0 0 rg BT 212.90 197.35 Td (on ) Tj ET Q
q 0 0 0 rg BT 226.64 197.35 Td (certain ) Tj ET Q
q 0 0 0 rg BT 258.44 197.35 Td (seed ) Tj ET Q
q 0 0 0 rg BT 280.34 197.35 Td (capital ) Tj ET Q
q 0 0 0 rg BT 311.56 197.35 Td (investments ) Tj ET Q
q 0 0 0 rg BT 364.96 197.35 Td (by ) Tj ET Q
q 0 0 0 rg BT 378.70 197.35 Td (entering ) Tj ET Q
q 0 0 0 rg BT 416.34 197.35 Td (into ) Tj ET Q
q 0 0 0 rg BT 435.92 197.35 Td (futures ) Tj ET Q
q 0 0 0 rg BT 468.31 197.35 Td (contracts ) Tj ET Q
q 0 0 0 rg BT 509.45 197.35 Td (to ) Tj ET Q
q 0 0 0 rg BT 520.86 197.35 Td (sell ) Tj ET Q
q 0 0 0 rg BT 538.68 197.35 Td (index ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 184.75 Td (funds ) Tj ET Q
q 0 0 0 rg BT 75.96 184.75 Td (that ) Tj ET Q
q 0 0 0 rg BT 94.33 184.75 Td (benchmark ) Tj ET Q
q 0 0 0 rg BT 143.60 184.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 159.05 184.75 Td (hedged ) Tj ET Q
q 0 0 0 rg BT 192.00 184.75 Td (seed ) Tj ET Q
q 0 0 0 rg BT 213.28 184.75 Td (capital ) Tj ET Q
q 0 0 0 rg BT 243.89 184.75 Td (investments.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 159.55 Td (During ) Tj ET Q
q 0 0 0 rg BT 83.07 159.55 Td (the ) Tj ET Q
q 0 0 0 rg BT 99.23 159.55 Td (year ) Tj ET Q
q 0 0 0 rg BT 120.63 159.55 Td (ended ) Tj ET Q
q 0 0 0 rg BT 149.02 159.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 179.76 159.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 196.21 159.55 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 223.16 159.55 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 248.06 159.55 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 279.98 159.55 Td (entered ) Tj ET Q
q 0 0 0 rg BT 314.20 159.55 Td (into ) Tj ET Q
q 0 0 0 rg BT 333.86 159.55 Td (various ) Tj ET Q
q 0 0 0 rg BT 368.10 159.55 Td (total ) Tj ET Q
q 0 0 0 rg BT 390.09 159.55 Td (return ) Tj ET Q
q 0 0 0 rg BT 418.49 159.55 Td (swap ) Tj ET Q
q 0 0 0 rg BT 443.40 159.55 Td (arrangements ) Tj ET Q
q 0 0 0 rg BT 503.28 159.55 Td (with ) Tj ET Q
q 0 0 0 rg BT 525.28 159.55 Td (financial ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 146.95 Td (intermediaries ) Tj ET Q
q 0 0 0 rg BT 113.37 146.95 Td (with ) Tj ET Q
q 0 0 0 rg BT 135.34 146.95 Td (respect ) Tj ET Q
q 0 0 0 rg BT 168.38 146.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 179.86 146.95 Td (two ) Tj ET Q
q 0 0 0 rg BT 198.92 146.95 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 223.80 146.95 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 255.69 146.95 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 301.58 146.95 Td (ETFs, ) Tj ET Q
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/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
445.5 705.25 m
449.5 705.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
449.5 705.25 m
499.5 705.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49.5 637.25 m
187.5 637.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
191.5 637.25 m
247.5 637.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
251.5 637.25 m
311.5 637.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
315.5 637.25 m
378.5 637.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
382.5 637.25 m
445.5 637.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
449.5 637.25 m
499.5 637.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503.5 637.25 m
561.5 637.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
449.5 588.25 m
499.5 588.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49.5 588.25 m
187.5 588.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49.5 541.25 m
187.5 541.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
191.5 588.25 m
247.5 588.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
191.5 541.25 m
247.5 541.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
251.5 588.25 m
311.5 588.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
251.5 541.25 m
311.5 541.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
315.5 588.25 m
378.5 588.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
315.5 541.25 m
378.5 541.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
382.5 588.25 m
445.5 588.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
382.5 541.25 m
445.5 541.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
449.5 588.25 m
499.5 588.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
449.5 541.25 m
499.5 541.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503.5 588.25 m
561.5 588.25 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503.5 541.25 m
561.5 541.25 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 387.95 720.52 Td (Gross amounts not of) Tj ET Q
q 0 0 0 rg BT 477.98 720.52 Td (fset) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 397.45 710.02 Td (in the Balance Sheet) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 206.70 673.52 Td (Gross) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 195.50 663.02 Td (amounts of) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 195.95 652.52 Td (recognized) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 206.75 642.02 Td (assets) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 267.40 684.02 Td ( Gross) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 263.20 673.52 Td (amounts) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 256.00 663.02 Td (of) Tj ET Q
q 0 0 0 rg BT 264.65 663.02 Td (fset in the) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 264.05 652.52 Td (Balance) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 269.30 642.02 Td (Sheet) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 321.85 694.52 Td (Net amount) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 319.80 684.02 Td (of derivative) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 334.25 673.52 Td (assets) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 320.95 663.02 Td (presented in) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 321.85 652.52 Td (the Balance) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 334.80 642.02 Td (Sheet) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 393.95 652.52 Td (Financial) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 389.00 642.02 Td (instruments) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 463.45 652.52 Td (Cash) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 454.45 642.02 Td (collateral) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 507.35 673.52 Td (Net amount) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 521.90 663.02 Td (as of) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 510.40 652.52 Td (March 31,) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 521.50 642.02 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 52.00 623.02 Td (Derivative instruments not designated as hedging instruments) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 65.50 608.02 Td (Currency forward contracts) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 194.00 608.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 219.85 608.04 Td (7,997) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 254.00 608.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 280.35 608.04 Td (\(3,177) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 307.50 608.04 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 318.00 608.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 350.85 608.04 Td (4,820) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 385.00 608.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 431.00 608.04 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 452.00 608.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 485.00 608.04 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 506.00 608.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 533.85 608.04 Td (4,820) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 65.50 593.02 Td (T) Tj ET Q
q 0 0 0 rg BT 71.18 593.02 Td (otal return swaps) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 233.00 593.04 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 297.00 593.04 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 364.00 593.04 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 431.00 593.04 Td (84) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 471.85 593.04 Td (1,283) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 533.85 593.04 Td (1,367) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 74.50 577.52 Td (T) Tj ET Q
q 0 0 0 rg BT 80.18 577.52 Td (otal derivative) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 83.50 567.02 Td (instruments not) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 83.50 556.52 Td (designated as hedging) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 83.50 546.02 Td (instruments) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 194.00 546.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 219.85 546.04 Td (7,997) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 254.00 546.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 280.35 546.04 Td (\(3,177) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 307.50 546.04 Td (\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 318.00 546.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 350.85 546.04 Td (4,820) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 385.00 546.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 431.00 546.04 Td (84) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 452.00 546.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 471.85 546.04 Td (1,283) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 506.00 546.04 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 533.85 546.04 Td (6,187) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 516.55 Td (The following table presents the derivative liabilities and related of) Tj ET Q
q 0 0 0 rg BT 331.77 516.55 Td (fsets, if any) Tj ET Q
q 0 0 0 rg BT 379.78 516.55 Td (, as of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 407.78 516.55 Td (March 31, 2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 474.56 516.55 Td (:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 413.05 138.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
187.50 413.05 4.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
191.50 413.05 56.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
247.50 413.05 4.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
251.50 413.05 60.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
311.50 413.05 4.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
315.50 413.05 63.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
378.50 413.05 4.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.50 413.05 63.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
445.50 413.05 4.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
449.50 413.05 50.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
499.50 413.05 4.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.50 413.05 58.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 409.05 329.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
378.50 409.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.50 409.05 63.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
445.50 409.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
449.50 409.05 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
499.50 409.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.50 409.05 58.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 379.05 138.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
187.50 379.05 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
191.50 379.05 56.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
247.50 379.05 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
251.50 379.05 60.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
311.50 379.05 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
315.50 379.05 63.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
378.50 379.05 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.50 379.05 63.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
445.50 379.05 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
449.50 379.05 50.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
499.50 379.05 4.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.50 379.05 58.00 -26.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 338.05 138.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
187.50 338.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
191.50 338.05 56.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
247.50 338.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
251.50 338.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
311.50 338.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
315.50 338.05 63.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
378.50 338.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.50 338.05 63.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
445.50 338.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
449.50 338.05 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
499.50 338.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.50 338.05 58.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 308.05 138.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
187.50 308.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
191.50 308.05 56.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
247.50 308.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
251.50 308.05 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
311.50 308.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
315.50 308.05 63.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
378.50 308.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
382.50 308.05 63.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
445.50 308.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
449.50 308.05 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
499.50 308.05 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.50 308.05 58.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
382.5 480.04999999999995 m
445.5 480.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
445.5 480.04999999999995 m
449.5 480.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
449.5 480.04999999999995 m
499.5 480.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49.5 413.04999999999995 m
187.5 413.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
191.5 413.04999999999995 m
247.5 413.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
251.5 413.04999999999995 m
311.5 413.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
315.5 413.04999999999995 m
378.5 413.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
382.5 413.04999999999995 m
445.5 413.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
449.5 413.04999999999995 m
499.5 413.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503.5 413.04999999999995 m
561.5 413.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
382.5 413.04999999999995 m
445.5 413.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
449.5 413.04999999999995 m
499.5 413.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503.5 413.04999999999995 m
561.5 413.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49.5 323.04999999999995 m
187.5 323.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
191.5 323.04999999999995 m
247.5 323.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
251.5 323.04999999999995 m
311.5 323.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
315.5 323.04999999999995 m
378.5 323.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
382.5 323.04999999999995 m
445.5 323.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
449.5 323.04999999999995 m
499.5 323.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503.5 323.04999999999995 m
561.5 323.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49.5 293.04999999999995 m
187.5 293.04999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 404.00 654.22 Td (2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 503.50 654.22 Td (2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 180.40 638.72 Td (Income Statement) Tj ET Q
BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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BT /F1 10.50 Tf ET
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50 771.2669921875 m
120.9521484375 771.2669921875 l
s
q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q
q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q
BT /F1 10.00 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 298.10 31.25 Td (152) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 50.00 741.90 Td (17) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 60.50 741.90 Td (. ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 65.56 741.90 Td (V) Tj ET Q
q 0 0 0 rg BT 71.79 741.90 Td (ARIABLE ) Tj ET Q
q 0 0 0 rg BT 122.26 741.90 Td (INTEREST) Tj ET Q
q 0 0 0 rg BT 175.18 741.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 177.80 741.90 Td (ENTITIES ) Tj ET Q
q 0 0 0 rg BT 229.46 741.90 Td (AND ) Tj ET Q
q 0 0 0 rg BT 254.83 741.90 Td (CONSOLIDA) Tj ET Q
q 0 0 0 rg BT 317.65 741.90 Td (TED ) Tj ET Q
q 0 0 0 rg BT 341.86 741.90 Td (INVESTMENT) Tj ET Q
q 0 0 0 rg BT 412.27 741.90 Td ( ) Tj ET Q
q 0 0 0 rg BT 414.71 741.90 Td (VEHICLES) Tj ET Q
BT /F2 10.50 Tf ET
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 716.70 Td (In ) Tj ET Q
q 0 0 0 rg BT 61.21 716.70 Td (accordance ) Tj ET Q
q 0 0 0 rg BT 110.89 716.70 Td (with ) Tj ET Q
q 0 0 0 rg BT 132.02 716.70 Td (financial ) Tj ET Q
q 0 0 0 rg BT 171.22 716.70 Td (accounting ) Tj ET Q
q 0 0 0 rg BT 219.75 716.70 Td (standards, ) Tj ET Q
q 0 0 0 rg BT 264.50 716.70 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 288.54 716.70 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 319.59 716.70 Td (consolidates ) Tj ET Q
q 0 0 0 rg BT 373.97 716.70 Td (certain ) Tj ET Q
q 0 0 0 rg BT 405.00 716.70 Td (sponsored ) Tj ET Q
q 0 0 0 rg BT 450.04 716.70 Td (investment ) Tj ET Q
q 0 0 0 rg BT 498.59 716.70 Td (products, ) Tj ET Q
q 0 0 0 rg BT 539.84 716.70 Td (some ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 704.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 62.02 704.10 Td (which ) Tj ET Q
q 0 0 0 rg BT 90.95 704.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 107.03 704.10 Td (designated ) Tj ET Q
q 0 0 0 rg BT 155.21 704.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 167.22 704.10 Td (CIVs. ) Tj ET Q
q 0 0 0 rg BT 195.29 704.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 197.84 704.10 Td (As ) Tj ET Q
q 0 0 0 rg BT 212.77 704.10 Td (presented ) Tj ET Q
q 0 0 0 rg BT 256.28 704.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 267.71 704.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 283.81 704.10 Td (table ) Tj ET Q
q 0 0 0 rg BT 307.49 704.10 Td (below) Tj ET Q
q 0 0 0 rg BT 332.47 704.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 338.36 704.10 Td (as ) Tj ET Q
q 0 0 0 rg BT 350.38 704.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 362.39 704.10 Td (March ) Tj ET Q
q 0 0 0 rg BT 393.07 704.10 Td (31, ) Tj ET Q
q 0 0 0 rg BT 409.46 704.10 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 436.36 704.10 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 463.25 704.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 481.68 704.10 Td (2016, ) Tj ET Q
q 0 0 0 rg BT 508.58 704.10 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 533.42 704.10 Td (Mason ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 691.50 Td (concluded ) Tj ET Q
q 0 0 0 rg BT 96.62 691.50 Td (it ) Tj ET Q
q 0 0 0 rg BT 105.92 691.50 Td (was ) Tj ET Q
q 0 0 0 rg BT 125.72 691.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 142.01 691.50 Td (primary ) Tj ET Q
q 0 0 0 rg BT 178.72 691.50 Td (beneficiary ) Tj ET Q
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q 0 0 0 rg BT 241.62 691.50 Td (certain ) Tj ET Q
q 0 0 0 rg BT 273.40 691.50 Td (VIEs ) Tj ET Q
q 0 0 0 rg BT 298.45 691.50 Td (because ) Tj ET Q
q 0 0 0 rg BT 335.14 691.50 Td (it ) Tj ET Q
q 0 0 0 rg BT 344.45 691.50 Td (held ) Tj ET Q
q 0 0 0 rg BT 365.99 691.50 Td (significant ) Tj ET Q
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q 0 0 0 rg BT 549.80 691.50 Td ( ) Tj ET Q
q 0 0 0 rg BT 553.26 691.50 Td (In ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 678.90 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 90.48 678.90 Td (during ) Tj ET Q
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q 0 0 0 rg BT 137.62 678.90 Td (year ) Tj ET Q
q 0 0 0 rg BT 159.14 678.90 Td (ended ) Tj ET Q
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q 0 0 0 rg BT 262.15 678.90 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 287.17 678.90 Td (Mason ) Tj ET Q
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q 0 0 0 rg BT 373.32 678.90 Td (various ) Tj ET Q
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q 0 0 0 rg BT 458.31 678.90 Td (swap ) Tj ET Q
q 0 0 0 rg BT 483.34 678.90 Td (arrangements ) Tj ET Q
q 0 0 0 rg BT 543.34 678.90 Td (with ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 205.13 666.30 Td (to ) Tj ET Q
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q 0 0 0 rg BT 393.27 666.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 408.59 666.30 Td (terms ) Tj ET Q
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q 0 0 0 rg BT 540.42 666.30 Td (Legg ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 653.70 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 81.17 653.70 Td (absorbs ) Tj ET Q
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q 0 0 0 rg BT 153.68 653.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 171.42 653.70 Td (losses ) Tj ET Q
q 0 0 0 rg BT 199.10 653.70 Td (on ) Tj ET Q
q 0 0 0 rg BT 212.19 653.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 227.60 653.70 Td (underlying ) Tj ET Q
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q 0 0 0 rg BT 296.94 653.70 Td (investments ) Tj ET Q
q 0 0 0 rg BT 349.69 653.70 Td (of ) Tj ET Q
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q 0 0 0 rg BT 507.53 653.70 Td (therefore ) Tj ET Q
q 0 0 0 rg BT 548.01 653.70 Td (has ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 138.07 641.10 Td (each ) Tj ET Q
q 0 0 0 rg BT 161.00 641.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 173.44 641.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 189.97 641.10 Td (two ) Tj ET Q
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q 0 0 0 rg BT 238.49 641.10 Td (and ) Tj ET Q
q 0 0 0 rg BT 257.35 641.10 Td (is ) Tj ET Q
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q 0 0 0 rg BT 304.40 641.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 316.27 641.10 Td (be ) Tj ET Q
q 0 0 0 rg BT 329.87 641.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 346.40 641.10 Td (primary ) Tj ET Q
q 0 0 0 rg BT 383.34 641.10 Td (beneficiary ) Tj ET Q
q 0 0 0 rg BT 434.25 641.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 446.70 641.10 Td (each ) Tj ET Q
q 0 0 0 rg BT 469.63 641.10 Td (ETF) Tj ET Q
q 0 0 0 rg BT 487.46 641.10 Td (. ) Tj ET Q
q 0 0 0 rg BT 493.78 641.10 Td ( ) Tj ET Q
q 0 0 0 rg BT 497.48 641.10 Td (Because ) Tj ET Q
q 0 0 0 rg BT 536.16 641.10 Td (it ) Tj ET Q
q 0 0 0 rg BT 545.69 641.10 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 628.50 Td (determined ) Tj ET Q
q 0 0 0 rg BT 100.18 628.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 111.29 628.50 Td (be ) Tj ET Q
q 0 0 0 rg BT 124.14 628.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 139.91 628.50 Td (primary ) Tj ET Q
q 0 0 0 rg BT 176.10 628.50 Td (beneficiary ) Tj ET Q
q 0 0 0 rg BT 226.26 628.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 237.95 628.50 Td (these ) Tj ET Q
q 0 0 0 rg BT 262.26 628.50 Td (VIEs, ) Tj ET Q
q 0 0 0 rg BT 289.41 628.50 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 313.93 628.50 Td (Mason ) Tj ET Q
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q 0 0 0 rg BT 401.47 628.50 Td (and ) Tj ET Q
q 0 0 0 rg BT 419.58 628.50 Td (designated ) Tj ET Q
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 615.90 Td (CIVs ) Tj ET Q
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q 0 0 0 rg BT 101.04 615.90 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 159.08 615.90 Td (Balance ) Tj ET Q
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q 0 0 0 rg BT 236.93 615.90 Td (of ) Tj ET Q
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q 0 0 0 rg BT 294.08 615.90 Td (2018, ) Tj ET Q
q 0 0 0 rg BT 320.33 615.90 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 346.58 615.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 364.37 615.90 Td (2016:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
52.00 513.40 125.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
177.00 513.40 63.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
240.00 513.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
244.00 513.40 57.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
301.00 513.40 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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305.00 513.40 63.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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368.00 513.40 5.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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373.00 513.40 54.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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427.00 513.40 5.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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432.00 513.40 62.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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504.00 513.40 55.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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52.00 483.40 125.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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177.00 483.40 63.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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240.00 483.40 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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244.00 483.40 57.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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301.00 483.40 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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305.00 483.40 63.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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368.00 483.40 5.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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373.00 483.40 54.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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427.00 483.40 5.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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432.00 483.40 62.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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494.00 483.40 10.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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504.00 483.40 55.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
177 590.4 m
240 590.4 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
240 590.4 m
244 590.4 l
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[] 0 d
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3 M
244 590.4 m
301 590.4 l
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[] 0 d
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3 M
305 590.4 m
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[] 0 d
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3 M
368 590.4 m
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[] 0 d
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3 M
373 590.4 m
427 590.4 l
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[] 0 d
0 J
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3 M
432 590.4 m
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[] 0 d
0 J
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3 M
494 590.4 m
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[] 0 d
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504 590.4 m
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3 M
177 575.4 m
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3 M
240 575.4 m
244 575.4 l
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[] 0 d
0 J
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3 M
244 575.4 m
301 575.4 l
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[] 0 d
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3 M
305 575.4 m
368 575.4 l
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[] 0 d
0 J
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3 M
373 575.4 m
427 575.4 l
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[] 0 d
0 J
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3 M
432 575.4 m
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3 M
494 575.4 m
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[] 0 d
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3 M
504 575.4 m
559 575.4 l
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3 M
177 528.4 m
240 528.4 l
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3 M
244 528.4 m
301 528.4 l
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[] 0 d
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3 M
305 575.4 m
368 575.4 l
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3 M
305 528.4 m
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368 575.4 m
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3 M
373 528.4 m
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432 575.4 m
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[] 0 d
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3 M
432 528.4 m
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[] 0 d
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494 575.4 m
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504 575.4 m
559 575.4 l
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[] 0 d
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504 528.4 m
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[] 0 d
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3 M
244 468.4 m
301 468.4 l
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[] 0 d
0 J
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3 M
373 468.4 m
427 468.4 l
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[] 0 d
0 J
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3 M
504 468.4 m
559 468.4 l
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[] 0 d
0 J
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3 M
244 468.4 m
301 468.4 l
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[] 0 d
0 J
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3 M
244 453.4 m
301 453.4 l
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[] 0 d
0 J
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3 M
373 468.4 m
427 468.4 l
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[] 0 d
0 J
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3 M
373 453.4 m
427 453.4 l
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[] 0 d
0 J
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3 M
504 468.4 m
559 468.4 l
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[] 0 d
0 J
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504 453.4 m
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BT /F1 10.50 Tf ET
q 0 0 0 rg BT 205.10 580.17 Td (March 31, 2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 332.10 580.17 Td (March 31, 2017) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 461.60 580.17 Td (March 31, 2016) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 185.10 554.17 Td (Number of) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 180.25 543.67 Td (Consolidated) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 195.15 533.17 Td (Funds) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 261.20 564.67 Td (Legg ) Tj ET Q
BT /F1 10.50 Tf ET
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q 0 0 0 rg BT 506.59 741.75 Td (Consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 729.15 Td (Balance ) Tj ET Q
q 0 0 0 rg BT 86.56 729.15 Td (Sheets ) Tj ET Q
q 0 0 0 rg BT 116.72 729.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 128.22 729.15 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 139.71 729.15 Td (March ) Tj ET Q
q 0 0 0 rg BT 169.86 729.15 Td (31, ) Tj ET Q
q 0 0 0 rg BT 185.73 729.15 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 206.73 729.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 209.48 729.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 227.38 729.15 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 251.13 729.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 269.04 729.15 Td (the ) Tj ET Q
q 0 0 0 rg BT 284.61 729.15 Td (Consolidated ) Tj ET Q
q 0 0 0 rg BT 342.77 729.15 Td (Statements ) Tj ET Q
q 0 0 0 rg BT 391.60 729.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 403.09 729.15 Td (Income ) Tj ET Q
q 0 0 0 rg BT 437.32 729.15 Td (\(Loss\) ) Tj ET Q
q 0 0 0 rg BT 466.90 729.15 Td (for ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 481.89 729.15 Td (years) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 504.04 729.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 506.79 729.15 Td (ended ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 534.61 729.15 Td (March ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 716.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 65.75 716.55 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 86.75 716.55 Td (, ) Tj ET Q
q 0 0 0 rg BT 92.00 716.55 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 118.25 716.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 136.04 716.55 Td (2016:) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 50.00 693.95 Td (Consolidating Balance Sheets) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 623.45 63.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
113.50 623.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
117.50 623.45 58.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
175.50 623.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
179.50 623.45 44.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
223.50 623.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
227.50 623.45 53.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
280.50 623.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
284.50 623.45 54.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
338.50 623.45 7.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
345.50 623.45 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
402.50 623.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
406.50 623.45 44.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
450.50 623.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
454.50 623.45 51.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
505.50 623.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
509.50 623.45 53.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 588.45 63.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
113.50 588.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
117.50 588.45 58.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
175.50 588.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
179.50 588.45 44.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
223.50 588.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
227.50 588.45 53.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
280.50 588.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
284.50 588.45 54.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
338.50 588.45 7.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
345.50 588.45 57.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
402.50 588.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
406.50 588.45 44.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
450.50 588.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
454.50 588.45 51.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
505.50 588.45 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
509.50 588.45 53.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 553.45 63.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
113.50 553.45 4.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
117.50 553.45 58.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
175.50 553.45 4.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
179.50 553.45 44.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
223.50 553.45 4.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
227.50 553.45 53.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
280.50 553.45 4.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
284.50 553.45 54.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
338.50 553.45 7.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
345.50 553.45 57.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
402.50 553.45 4.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
406.50 553.45 44.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
450.50 553.45 4.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
454.50 553.45 51.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
505.50 553.45 4.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
509.50 553.45 53.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 518.45 63.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
113.50 518.45 4.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
117.50 518.45 58.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
175.50 518.45 4.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
179.50 518.45 44.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
223.50 518.45 4.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
227.50 518.45 53.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
280.50 518.45 4.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
284.50 518.45 54.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
338.50 518.45 7.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
345.50 518.45 57.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
402.50 518.45 4.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
406.50 518.45 44.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
450.50 518.45 4.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
454.50 518.45 51.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
505.50 518.45 4.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
509.50 518.45 53.00 -39.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 449.45 63.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
113.50 449.45 4.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
117.50 449.45 58.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
175.50 449.45 4.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
179.50 449.45 44.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
223.50 449.45 4.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
227.50 449.45 53.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
280.50 449.45 4.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
284.50 449.45 54.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
338.50 449.45 7.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
345.50 449.45 57.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
402.50 449.45 4.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
406.50 449.45 44.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
450.50 449.45 4.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
454.50 449.45 51.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
505.50 449.45 4.00 -22.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
509.50 449.45 53.00 -22.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
117.5 670.45 m
175.5 670.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
175.5 670.45 m
179.5 670.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
179.5 670.45 m
223.5 670.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
223.5 670.45 m
227.5 670.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
227.5 670.45 m
280.5 670.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
280.5 670.45 m
284.5 670.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
284.5 670.45 m
338.5 670.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
345.5 670.45 m
402.5 670.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
402.5 670.45 m
406.5 670.45 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
406.5 670.45 m
450.5 670.45 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
450.5 670.45 m
454.5 670.45 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
454.5 670.45 m
505.5 670.45 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
505.5 670.45 m
509.5 670.45 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
509.5 670.45 m
562.5 670.45 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 623.45 m
113.5 623.45 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
117.5 623.45 m
175.5 623.45 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
179.5 623.45 m
223.5 623.45 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
227.5 623.45 m
280.5 623.45 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
284.5 623.45 m
338.5 623.45 l
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0 0 0 RG
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[] 0 d
0 J
0 j
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345.5 623.45 m
402.5 623.45 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
406.5 623.45 m
450.5 623.45 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
454.5 623.45 m
505.5 623.45 l
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0 0 0 RG
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[] 0 d
0 J
0 j
3 M
509.5 623.45 m
562.5 623.45 l
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0 0 0 RG
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[] 0 d
0 J
0 j
3 M
117.5 623.45 m
175.5 623.45 l
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0 0 0 RG
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[] 0 d
0 J
0 j
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179.5 623.45 m
223.5 623.45 l
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[] 0 d
0 J
0 j
3 M
227.5 623.45 m
280.5 623.45 l
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0 0 0 RG
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0 i 
[] 0 d
0 J
0 j
3 M
345.5 623.45 m
402.5 623.45 l
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0 0 0 RG
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[] 0 d
0 J
0 j
3 M
406.5 623.45 m
450.5 623.45 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
454.5 623.45 m
505.5 623.45 l
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1.00 w
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[] 0 d
0 J
0 j
3 M
50.5 588.45 m
113.5 588.45 l
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0 0 0 RG
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[] 0 d
0 J
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3 M
284.5 588.45 m
338.5 588.45 l
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0 i 
[] 0 d
0 J
0 j
3 M
509.5 588.45 m
562.5 588.45 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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50.5 575.45 m
113.5 575.45 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
117.5 588.45 m
175.5 588.45 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
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3 M
117.5 575.45 m
175.5 575.45 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
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3 M
179.5 588.45 m
223.5 588.45 l
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[] 0 d
0 J
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179.5 575.45 m
223.5 575.45 l
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[] 0 d
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227.5 588.45 m
280.5 588.45 l
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[] 0 d
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227.5 575.45 m
280.5 575.45 l
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[] 0 d
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284.5 575.45 m
338.5 575.45 l
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[] 0 d
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345.5 588.45 m
402.5 588.45 l
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345.5 575.45 m
402.5 575.45 l
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450.5 588.45 l
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406.5 575.45 m
450.5 575.45 l
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[] 0 d
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454.5 588.45 m
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[] 0 d
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454.5 575.45 m
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[] 0 d
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509.5 575.45 m
562.5 575.45 l
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[] 0 d
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50.5 531.45 m
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[] 0 d
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179.5 531.45 m
223.5 531.45 l
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[] 0 d
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284.5 531.45 m
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[] 0 d
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509.5 531.45 m
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[] 0 d
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179.5 518.45 m
223.5 518.45 l
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q 0 0 0 rg BT 468.00 587.85 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 526.75 587.85 Td (\(102,510) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 559.00 587.85 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 573.85 Td (Net Income) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 334.75 573.85 Td (329,694) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 396.75 573.85 Td (9,1) Tj ET Q
q 0 0 0 rg BT 408.00 573.85 Td (19) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 453.75 573.85 Td (\(2,463) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 477.00 573.85 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 529.75 573.85 Td (336,350) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 559.85 Td (Less:��Net income attributable to noncontr) Tj ET Q
q 0 0 0 rg BT 215.90 559.85 Td (olling inter) Tj ET Q
q 0 0 0 rg BT 257.98 559.85 Td (ests) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 339.25 559.85 Td (44,619) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 403.50 559.85 Td (265) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 456.75 559.85 Td (6,391) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 534.25 559.85 Td (51,275) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 545.85 Td (Net Income ) Tj ET Q
q 0 0 0 rg BT 98.99 545.85 Td (Attributable to Legg Mason, Inc.) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 307.00 545.85 Td ($) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 334.75 545.85 Td (285,075) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 374.00 545.85 Td ($) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 396.75 545.85 Td (8,854) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 427.00 545.85 Td ($) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 453.75 545.85 Td (\(8,854) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 477.00 545.85 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 487.00 545.85 Td ($) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 529.75 545.85 Td (285,075) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 50.00 531.70 Td (\(1\) ) Tj ET Q
q 0 0 0 rg BT 68.00 531.70 Td (Other represents consolidated sponsored investment products \(VREs\) that are not designated as CIVs.) Tj ET Q
0.8 0.9333333333333333 1 rg
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50.50 466.20 245.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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295.50 466.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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299.50 466.20 68.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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367.50 466.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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371.50 466.20 49.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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420.50 466.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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424.50 466.20 55.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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479.50 466.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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483.50 466.20 79.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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50.50 438.20 245.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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295.50 438.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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299.50 438.20 68.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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367.50 438.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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371.50 438.20 49.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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420.50 438.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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424.50 438.20 55.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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479.50 438.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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483.50 438.20 79.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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50.50 410.20 245.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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295.50 410.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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299.50 410.20 68.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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367.50 410.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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371.50 410.20 49.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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420.50 410.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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424.50 410.20 55.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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479.50 410.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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483.50 410.20 79.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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50.50 382.20 245.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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295.50 382.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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299.50 382.20 68.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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367.50 382.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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371.50 382.20 49.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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420.50 382.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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424.50 382.20 55.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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479.50 382.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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483.50 382.20 79.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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50.50 354.20 245.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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295.50 354.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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299.50 354.20 68.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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367.50 354.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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371.50 354.20 49.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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420.50 354.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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424.50 354.20 55.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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479.50 354.20 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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483.50 354.20 79.00 -14.00 re f
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
299.5 507.2 m
367.5 507.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
367.5 507.2 m
371.5 507.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
371.5 507.2 m
420.5 507.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
420.5 507.2 m
424.5 507.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
424.5 507.2 m
479.5 507.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
479.5 507.2 m
483.5 507.2 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
483.5 507.2 m
562.5 507.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 466.2 m
295.5 466.2 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
299.5 466.2 m
367.5 466.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
371.5 466.2 m
420.5 466.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
424.5 466.2 m
479.5 466.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
483.5 466.2 m
562.5 466.2 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 438.2 m
295.5 438.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
299.5 438.2 m
367.5 438.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
371.5 438.2 m
420.5 438.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
424.5 438.2 m
479.5 438.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
483.5 438.2 m
562.5 438.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 410.2 m
295.5 410.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
299.5 410.2 m
367.5 410.2 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
371.5 410.2 m
420.5 410.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
424.5 410.2 m
479.5 410.2 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
483.5 410.2 m
562.5 410.2 l
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1.00 w
0 i 
[] 0 d
0 J
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3 M
50.5 382.2 m
295.5 382.2 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
299.5 382.2 m
367.5 382.2 l
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[] 0 d
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3 M
371.5 382.2 m
420.5 382.2 l
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0 0 0 RG
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[] 0 d
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3 M
424.5 382.2 m
479.5 382.2 l
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1.00 w
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[] 0 d
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3 M
483.5 382.2 m
562.5 382.2 l
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3 M
50.5 354.2 m
295.5 354.2 l
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3 M
299.5 354.2 m
367.5 354.2 l
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[] 0 d
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3 M
371.5 354.2 m
420.5 354.2 l
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[] 0 d
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3 M
424.5 354.2 m
479.5 354.2 l
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0 0 0 RG
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[] 0 d
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3 M
483.5 354.2 m
562.5 354.2 l
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50.5 340.2 m
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[] 0 d
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3 M
299.5 340.2 m
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3 M
371.5 340.2 m
420.5 340.2 l
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424.5 340.2 m
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483.5 340.2 m
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q 0 0 0 rg BT 53.00 511.66 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 379.80 511.66 Td (Y) Tj ET Q
q 0 0 0 rg BT 385.85 511.66 Td (ear Ended March 31, 2017) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 53.00 470.66 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 305.10 497.66 Td (Balance Before) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 302.85 488.66 Td (Consolidation of ) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 315.85 479.66 Td (CIVs and ) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 319.30 470.66 Td (Other) Tj ET Q
BT /F1 9.00 Tf ET
BT /F1 5.85 Tf ET
q 0 0 0 rg BT 339.79 474.74 Td (\(1\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 378.35 479.66 Td (CIVs and ) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 381.80 470.66 Td (Other) Tj ET Q
BT /F1 9.00 Tf ET
BT /F1 5.85 Tf ET
q 0 0 0 rg BT 402.29 474.74 Td (\(1\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 428.50 470.66 Td (Eliminations) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 498.75 479.66 Td (Consolidated) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 511.55 470.66 Td (T) Tj ET Q
q 0 0 0 rg BT 516.42 470.66 Td (otals) Tj ET Q
BT /F1 9.00 Tf ET
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q 0 0 0 rg BT 58.18 456.66 Td (otal Operating Revenues) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 302.00 456.66 Td ($) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 328.00 456.66 Td (2,887,431) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 374.00 456.66 Td ($) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 408.00 456.66 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 427.00 456.66 Td ($) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 459.50 456.66 Td (\(529) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 476.00 456.66 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 486.00 456.66 Td ($) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 523.00 456.66 Td (2,886,902) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 403.50 442.66 Td (816) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 476.00 442.66 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 417.00 428.66 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 468.50 428.66 Td (\(3) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 476.00 428.66 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 529.75 428.66 Td (422,243) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 452.75 414.66 Td (\(3,331) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 476.00 414.66 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 531.25 414.66 Td (\(51,365) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 452.75 400.66 Td (\(3,334) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 476.00 400.66 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 529.75 400.66 Td (370,878) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 339.25 386.66 Td (84,175) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 408.00 386.66 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 467.00 386.66 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 534.25 386.66 Td (84,175) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 334.75 372.66 Td (275,251) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 392.25 372.66 Td (14,786) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 452.75 372.66 Td (\(3,334) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 476.00 372.66 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 529.75 372.66 Td (286,703) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 339.25 358.66 Td (47,995) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 396.75 358.66 Td (2,274) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 455.75 358.66 Td (9,178) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 534.25 358.66 Td (59,447) Tj ET Q
BT /F1 9.00 Tf ET
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q 0 0 0 rg BT 96.98 344.66 Td (Attributable to Legg Mason, Inc.) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 334.75 344.66 Td (227,256) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 374.00 344.66 Td ($) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 392.25 344.66 Td (12,512) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 427.00 344.66 Td ($) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 448.25 344.66 Td (\(12,512) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 476.00 344.66 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 486.00 344.66 Td ($) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 529.75 344.66 Td (227,256) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 50.00 330.50 Td (\(1\) ) Tj ET Q
q 0 0 0 rg BT 68.00 330.50 Td (Other represents consolidated sponsored investment products \(VREs\) that are not designated as CIVs.) Tj ET Q
0.8 0.9333333333333333 1 rg
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50.50 265.00 245.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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295.50 265.00 4.00 -14.00 re f
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299.50 265.00 67.00 -14.00 re f
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366.50 265.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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418.50 265.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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477.50 265.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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481.50 265.00 81.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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50.50 237.00 245.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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295.50 237.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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299.50 237.00 67.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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370.50 237.00 48.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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477.50 237.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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481.50 237.00 81.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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50.50 209.00 245.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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295.50 209.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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299.50 209.00 67.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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366.50 209.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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370.50 209.00 48.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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418.50 209.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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422.50 209.00 55.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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481.50 209.00 81.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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50.50 181.00 245.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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295.50 181.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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299.50 181.00 67.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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366.50 181.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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370.50 181.00 48.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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418.50 181.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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422.50 181.00 55.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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477.50 181.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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481.50 181.00 81.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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50.50 153.00 245.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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295.50 153.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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299.50 153.00 67.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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366.50 153.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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370.50 153.00 48.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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418.50 153.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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422.50 153.00 55.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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477.50 153.00 4.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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481.50 153.00 81.00 -14.00 re f
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
299.5 306 m
366.5 306 l
s
0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
366.5 306 m
370.5 306 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
370.5 306 m
418.5 306 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
418.5 306 m
422.5 306 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
422.5 306 m
477.5 306 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
477.5 306 m
481.5 306 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
481.5 306 m
562.5 306 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
299.5 306 m
366.5 306 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
299.5 265 m
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
370.5 306 m
418.5 306 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
370.5 265 m
418.5 265 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
50.5 265 m
295.5 265 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
299.5 265 m
366.5 265 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
370.5 265 m
418.5 265 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
422.5 265 m
477.5 265 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
481.5 265 m
562.5 265 l
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0 0 0 RG
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0 J
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3 M
50.5 237 m
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0 0 0 RG
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0 J
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3 M
299.5 237 m
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0 0 0 RG
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[] 0 d
0 J
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3 M
370.5 237 m
418.5 237 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
422.5 237 m
477.5 237 l
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0 0 0 RG
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1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
481.5 237 m
562.5 237 l
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0 0 0 RG
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0 J
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3 M
50.5 209 m
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0 0 0 RG
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[] 0 d
0 J
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3 M
299.5 209 m
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0 J
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3 M
370.5 209 m
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0 J
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3 M
422.5 209 m
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0 J
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3 M
481.5 209 m
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299.5 181 m
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3 M
370.5 181 m
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0 J
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3 M
422.5 181 m
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3 M
481.5 181 m
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3 M
299.5 153 m
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3 M
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
BT /F1 5.85 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
BT /F1 5.85 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 426.50 269.46 Td (Eliminations) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 327.00 255.46 Td (2,661,162) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 474.00 241.46 Td (\)) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 531.25 213.46 Td (\(76,049) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 10.00 Tf ET
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q 0 0 0 rg BT 68.00 497.15 Td (Redemption ) Tj ET Q
q 0 0 0 rg BT 111.26 497.15 Td (restrictions: ) Tj ET Q
q 0 0 0 rg BT 153.10 497.15 Td ( ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 154.81 497.15 Td (6%) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 166.14 497.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 167.85 497.15 Td (daily ) Tj ET Q
q 0 0 0 rg BT 186.56 497.15 Td (redemption; ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 229.34 497.15 Td (8%) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 240.67 497.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 242.38 497.15 Td (monthly ) Tj ET Q
q 0 0 0 rg BT 272.43 497.15 Td (redemption; ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 315.21 497.15 Td (50%) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 330.79 497.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 332.50 497.15 Td (quarterly ) Tj ET Q
q 0 0 0 rg BT 364.89 497.15 Td (redemption; ) Tj ET Q
q 0 0 0 rg BT 407.68 497.15 Td (and ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 421.66 497.15 Td (36%) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 437.24 497.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 438.95 497.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 451.04 497.15 Td (subject ) Tj ET Q
q 0 0 0 rg BT 476.83 497.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 485.15 497.15 Td (three ) Tj ET Q
q 0 0 0 rg BT 503.85 497.15 Td (to ) Tj ET Q
q 0 0 0 rg BT 512.17 497.15 Td (five-year ) Tj ET Q
q 0 0 0 rg BT 544.55 497.15 Td (lock-) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 68.00 486.95 Td (up ) Tj ET Q
q 0 0 0 rg BT 78.63 486.95 Td (or ) Tj ET Q
q 0 0 0 rg BT 87.83 486.95 Td (side ) Tj ET Q
q 0 0 0 rg BT 103.65 486.95 Td (pocket ) Tj ET Q
q 0 0 0 rg BT 128.43 486.95 Td (provisions.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 461.75 Td (As ) Tj ET Q
q 0 0 0 rg BT 63.58 461.75 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 74.24 461.75 Td (March ) Tj ET Q
q 0 0 0 rg BT 103.55 461.75 Td (31, ) Tj ET Q
q 0 0 0 rg BT 118.59 461.75 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 139.59 461.75 Td ( ) Tj ET Q
q 0 0 0 rg BT 141.50 461.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 158.57 461.75 Td (2017, ) Tj ET Q
q 0 0 0 rg BT 184.11 461.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 198.13 461.75 Td (VIEs ) Tj ET Q
q 0 0 0 rg BT 221.62 461.75 Td (in ) Tj ET Q
q 0 0 0 rg BT 231.69 461.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 259.27 461.75 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 282.75 461.75 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 313.25 461.75 Td (holds ) Tj ET Q
q 0 0 0 rg BT 337.91 461.75 Td (a ) Tj ET Q
q 0 0 0 rg BT 344.48 461.75 Td (variable ) Tj ET Q
q 0 0 0 rg BT 380.21 461.75 Td (interest, ) Tj ET Q
q 0 0 0 rg BT 415.65 461.75 Td (but ) Tj ET Q
q 0 0 0 rg BT 430.98 461.75 Td (for ) Tj ET Q
q 0 0 0 rg BT 445.13 461.75 Td (which ) Tj ET Q
q 0 0 0 rg BT 472.71 461.75 Td (it ) Tj ET Q
q 0 0 0 rg BT 480.45 461.75 Td (was ) Tj ET Q
q 0 0 0 rg BT 498.69 461.75 Td (not ) Tj ET Q
q 0 0 0 rg BT 514.02 461.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 528.76 461.75 Td (primary ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 449.15 Td (beneficiary) Tj ET Q
q 0 0 0 rg BT 96.54 449.15 Td (, ) Tj ET Q
q 0 0 0 rg BT 101.79 449.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 125.99 449.15 Td (Mason's ) Tj ET Q
q 0 0 0 rg BT 163.18 449.15 Td (carrying ) Tj ET Q
q 0 0 0 rg BT 200.78 449.15 Td (value ) Tj ET Q
q 0 0 0 rg BT 226.15 449.15 Td (and ) Tj ET Q
q 0 0 0 rg BT 243.93 449.15 Td (maximum ) Tj ET Q
q 0 0 0 rg BT 289.14 449.15 Td (risk ) Tj ET Q
q 0 0 0 rg BT 307.51 449.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 318.88 449.15 Td (loss ) Tj ET Q
q 0 0 0 rg BT 337.85 449.15 Td (were ) Tj ET Q
q 0 0 0 rg BT 360.88 449.15 Td (as ) Tj ET Q
q 0 0 0 rg BT 372.25 449.15 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 376.65 192.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
242.50 376.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
246.50 376.65 80.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.50 376.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.50 376.65 74.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
404.50 376.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
408.50 376.65 80.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
488.50 376.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
492.50 376.65 70.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 346.65 192.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
242.50 346.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
246.50 346.65 80.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.50 346.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.50 346.65 74.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
404.50 346.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
408.50 346.65 80.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
488.50 346.65 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
492.50 346.65 70.00 -15.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
246.5 423.65 m
326.5 423.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
326.5 423.65 m
330.5 423.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330.5 423.65 m
404.5 423.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
408.5 423.65 m
488.5 423.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
488.5 423.65 m
492.5 423.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
492.5 423.65 m
562.5 423.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 376.65 m
242.5 376.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
246.5 376.65 m
326.5 376.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330.5 376.65 m
404.5 376.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
408.5 376.65 m
488.5 376.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
492.5 376.65 m
562.5 376.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
246.5 376.65 m
326.5 376.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330.5 376.65 m
404.5 376.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 346.65 m
242.5 346.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
246.5 346.65 m
326.5 346.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330.5 346.65 m
404.5 346.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
408.5 346.65 m
488.5 346.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
492.5 346.65 m
562.5 346.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
50.5 331.65 m
242.5 331.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
246.5 331.65 m
326.5 331.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330.5 331.65 m
404.5 331.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
408.5 331.65 m
488.5 331.65 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
492.5 331.65 m
562.5 331.65 l
s
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 428.42 Td (�) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 277.40 428.44 Td (As of Mar) Tj ET Q
q 0 0 0 rg BT 322.70 428.44 Td (ch 31, 2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 438.75 428.42 Td (As of March 31, 2017) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 250.05 412.94 Td (Equity Inter) Tj ET Q
q 0 0 0 rg BT 305.58 412.94 Td (ests ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 272.10 402.44 Td (on the ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 256.50 391.94 Td (Consolidated ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 249.35 381.44 Td (Balance Sheet ) Tj ET Q
BT /F2 10.50 Tf ET
BT /F2 6.82 Tf ET
q 0 0 0 rg BT 314.68 386.20 Td (\(1\)) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 343.65 391.94 Td (Maximum ) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 334.25 381.44 Td (Risk of Loss ) Tj ET Q
BT /F2 10.50 Tf ET
BT /F2 6.82 Tf ET
q 0 0 0 rg BT 391.72 386.20 Td (\(2\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 414.90 412.92 Td (Equity Interests ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 435.00 402.42 Td (on the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 420.25 391.92 Td (Consolidated ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 412.80 381.42 Td (Balance Sheet ) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 475.19 386.18 Td (\(1\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 505.10 391.92 Td (Maximum ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.15 381.42 Td (Risk of Loss ) Tj ET Q
BT /F1 10.50 Tf ET
BT /F1 6.82 Tf ET
q 0 0 0 rg BT 550.87 386.18 Td (\(2\)) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 366.42 Td (Real Estate Investment ) Tj ET Q
q 0 0 0 rg BT 152.34 366.42 Td (T) Tj ET Q
q 0 0 0 rg BT 158.47 366.42 Td (rusts) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 249.00 366.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 293.60 366.44 Td (12,419) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 333.00 366.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 371.60 366.44 Td (14,332) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 411.00 366.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 455.60 366.42 Td (1) Tj ET Q
q 0 0 0 rg BT 460.85 366.42 Td (1,660) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.00 366.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.60 366.42 Td (15,763) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 351.42 Td (Other investment funds) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 293.60 351.44 Td (12,640) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 371.60 351.44 Td (33,258) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 455.60 351.42 Td (47,063) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.60 351.42 Td (73,710) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 53.00 336.42 Td (T) Tj ET Q
q 0 0 0 rg BT 58.68 336.42 Td (otal) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 249.00 336.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 293.60 336.44 Td (25,059) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 333.00 336.44 Td ($) Tj ET Q
BT /F2 10.50 Tf ET
q 0 0 0 rg BT 371.60 336.44 Td (47,590) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 411.00 336.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 455.60 336.42 Td (58,723) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 495.00 336.42 Td ($) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 529.60 336.42 Td (89,473) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 50.00 321.95 Td (\(1\) ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 68.00 321.95 Td (Amounts ) Tj ET Q
q 0 0 0 rg BT 101.30 321.95 Td (are ) Tj ET Q
q 0 0 0 rg BT 113.80 321.95 Td (related ) Tj ET Q
q 0 0 0 rg BT 139.04 321.95 Td (to ) Tj ET Q
q 0 0 0 rg BT 147.78 321.95 Td (investments ) Tj ET Q
q 0 0 0 rg BT 190.52 321.95 Td (in ) Tj ET Q
q 0 0 0 rg BT 199.25 321.95 Td (proprietary ) Tj ET Q
q 0 0 0 rg BT 239.14 321.95 Td (and ) Tj ET Q
q 0 0 0 rg BT 253.54 321.95 Td (other ) Tj ET Q
q 0 0 0 rg BT 273.13 321.95 Td (fund ) Tj ET Q
q 0 0 0 rg BT 290.83 321.95 Td (products.) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 50.00 311.75 Td (\(2\) ) Tj ET Q
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 68.00 311.75 Td (Includes ) Tj ET Q
q 0 0 0 rg BT 98.92 311.75 Td (equity ) Tj ET Q
q 0 0 0 rg BT 122.29 311.75 Td (investments ) Tj ET Q
q 0 0 0 rg BT 165.03 311.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 177.54 311.75 Td (Company ) Tj ET Q
q 0 0 0 rg BT 212.72 311.75 Td (has ) Tj ET Q
q 0 0 0 rg BT 226.17 311.75 Td (made ) Tj ET Q
q 0 0 0 rg BT 246.71 311.75 Td (or ) Tj ET Q
q 0 0 0 rg BT 255.91 311.75 Td (is ) Tj ET Q
q 0 0 0 rg BT 263.71 311.75 Td (required ) Tj ET Q
q 0 0 0 rg BT 294.15 311.75 Td (to ) Tj ET Q
q 0 0 0 rg BT 302.89 311.75 Td (make ) Tj ET Q
q 0 0 0 rg BT 323.42 311.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 337.82 311.75 Td (any ) Tj ET Q
q 0 0 0 rg BT 352.21 311.75 Td (earned ) Tj ET Q
q 0 0 0 rg BT 376.99 311.75 Td (but ) Tj ET Q
q 0 0 0 rg BT 389.98 311.75 Td (uncollected ) Tj ET Q
q 0 0 0 rg BT 431.28 311.75 Td (management ) Tj ET Q
q 0 0 0 rg BT 476.83 311.75 Td (fees.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 286.55 Td (The ) Tj ET Q
q 0 0 0 rg BT 69.77 286.55 Td (Company's ) Tj ET Q
q 0 0 0 rg BT 120.02 286.55 Td (total ) Tj ET Q
q 0 0 0 rg BT 141.37 286.55 Td (AUM ) Tj ET Q
q 0 0 0 rg BT 169.31 286.55 Td (of ) Tj ET Q
q 0 0 0 rg BT 181.50 286.55 Td (unconsolidated ) Tj ET Q
q 0 0 0 rg BT 248.27 286.55 Td (VIEs ) Tj ET Q
q 0 0 0 rg BT 273.29 286.55 Td (was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 293.06 286.55 Td ($31,809,837) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 345.56 286.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 349.01 286.55 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 367.61 286.55 Td ($26,735,285) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 420.11 286.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 423.55 286.55 Td (as ) Tj ET Q
q 0 0 0 rg BT 435.74 286.55 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 447.93 286.55 Td (March ) Tj ET Q
q 0 0 0 rg BT 478.78 286.55 Td (31, ) Tj ET Q
q 0 0 0 rg BT 495.35 286.55 Td (2018) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 516.35 286.55 Td ( ) Tj ET Q
q 0 0 0 rg BT 519.79 286.55 Td (and ) Tj ET Q
q 0 0 0 rg BT 538.39 286.55 Td (2017, ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 273.95 Td (respectively) Tj ET Q
q 0 0 0 rg BT 100.05 273.95 Td (.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 248.75 Td (The ) Tj ET Q
q 0 0 0 rg BT 68.78 248.75 Td (assets ) Tj ET Q
q 0 0 0 rg BT 95.73 248.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 106.94 248.75 Td (these ) Tj ET Q
q 0 0 0 rg BT 130.79 248.75 Td (VIEs ) Tj ET Q
q 0 0 0 rg BT 154.83 248.75 Td (are ) Tj ET Q
q 0 0 0 rg BT 170.10 248.75 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 211.63 248.75 Td (comprised ) Tj ET Q
q 0 0 0 rg BT 257.83 248.75 Td (of ) Tj ET Q
q 0 0 0 rg BT 269.03 248.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 290.14 248.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 307.76 248.75 Td (cash ) Tj ET Q
q 0 0 0 rg BT 328.87 248.75 Td (equivalents ) Tj ET Q
q 0 0 0 rg BT 379.15 248.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 396.77 248.75 Td (investment ) Tj ET Q
q 0 0 0 rg BT 445.30 248.75 Td (securities, ) Tj ET Q
q 0 0 0 rg BT 490.04 248.75 Td (and ) Tj ET Q
q 0 0 0 rg BT 507.65 248.75 Td (the ) Tj ET Q
q 0 0 0 rg BT 522.94 248.75 Td (liabilities ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 50.00 236.15 Td (are ) Tj ET Q
q 0 0 0 rg BT 64.86 236.15 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 105.98 236.15 Td (comprised ) Tj ET Q
q 0 0 0 rg BT 151.76 236.15 Td (of ) Tj ET Q
q 0 0 0 rg BT 162.55 236.15 Td (various ) Tj ET Q
q 0 0 0 rg BT 195.50 236.15 Td (expense ) Tj ET Q
q 0 0 0 rg BT 231.36 236.15 Td (accruals. ) Tj ET Q
q 0 0 0 rg BT 270.42 236.15 Td ( ) Tj ET Q
q 0 0 0 rg BT 272.31 236.15 Td (These ) Tj ET Q
q 0 0 0 rg BT 299.28 236.15 Td (VIEs ) Tj ET Q
q 0 0 0 rg BT 322.90 236.15 Td (were ) Tj ET Q
q 0 0 0 rg BT 345.34 236.15 Td (not ) Tj ET Q
q 0 0 0 rg BT 360.80 236.15 Td (consolidated ) Tj ET Q
q 0 0 0 rg BT 415.92 236.15 Td (because ) Tj ET Q
q 0 0 0 rg BT 451.19 236.15 Td (Legg ) Tj ET Q
q 0 0 0 rg BT 474.80 236.15 Td (Mason ) Tj ET Q
q 0 0 0 rg BT 505.43 236.15 Td (does ) Tj ET Q
q 0 0 0 rg BT 526.72 236.15 Td (not ) Tj ET Q
q 0 0 0 rg BT 542.18 236.15 Td (have ) Tj ET Q
BT /F1 10.50 Tf ET
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0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 665.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 665.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 665.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 665.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 665.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 665.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 665.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 639.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 639.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 639.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 639.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 639.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 639.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 639.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 639.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 639.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 613.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 613.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 613.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 613.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 613.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 613.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 613.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 613.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 613.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 587.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 587.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 587.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 587.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 587.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 587.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 587.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 587.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 587.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 561.60 277.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 561.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 561.60 55.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 561.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 561.60 55.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 561.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 561.60 55.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 561.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 561.60 55.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 534.60 277.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 534.60 4.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 534.60 55.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 534.60 4.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 534.60 55.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 534.60 4.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 534.60 55.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 534.60 4.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 534.60 55.00 -4.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 516.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 516.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 516.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 516.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 516.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 516.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 516.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 516.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 516.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 490.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 490.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 490.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 490.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 490.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 490.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 490.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 490.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 490.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 464.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 464.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 464.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 464.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 464.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 464.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 464.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 464.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 464.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 438.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 438.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 438.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 438.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 438.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 438.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 438.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 438.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 438.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 412.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 412.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 412.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 412.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 412.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 412.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 412.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 412.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 412.60 55.00 -13.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330 679.6 m
385 679.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
385 679.6 m
389 679.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
389 679.6 m
444 679.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
444 679.6 m
448 679.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
448 679.6 m
503 679.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
503 679.6 m
507 679.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
507 679.6 m
562 679.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 665.6 m
326 665.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
389 665.6 m
444 665.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
448 665.6 m
503 665.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
507 665.6 m
562 665.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330 665.6 m
385 665.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 626.6 m
326 626.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330 626.6 m
385 626.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
389 626.6 m
444 626.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
448 626.6 m
503 626.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
507 626.6 m
562 626.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 613.6 m
326 613.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330 613.6 m
385 613.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
389 613.6 m
444 613.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
448 613.6 m
503 613.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
507 613.6 m
562 613.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 600.6 m
326 600.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330 613.6 m
385 613.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330 600.6 m
385 600.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
389 600.6 m
444 600.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
448 600.6 m
503 600.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
507 600.6 m
562 600.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 574.6 m
326 574.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330 574.6 m
385 574.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
389 574.6 m
444 574.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
448 574.6 m
503 574.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
507 574.6 m
562 574.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330 561.6 m
385 561.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
389 561.6 m
444 561.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
448 561.6 m
503 561.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
507 561.6 m
562 561.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 561.6 m
326 561.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330 547.6 m
385 547.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
389 547.6 m
444 547.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
448 547.6 m
503 547.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
507 547.6 m
562 547.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 547.6 m
326 547.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 534.6 m
326 534.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330 534.6 m
385 534.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
389 534.6 m
444 534.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
448 534.6 m
503 534.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
507 534.6 m
562 534.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
49 399.6 m
326 399.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330 399.6 m
385 399.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
389 399.6 m
444 399.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
448 399.6 m
503 399.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
507 399.6 m
562 399.6 l
s
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 412.95 684.28 Td (Quarter) Tj ET Q
q 0 0 0 rg BT 447.85 684.28 Td ( Ended) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 51.50 670.28 Td (Fiscal 2018) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 6.50 Tf ET
q 0 0 0 rg BT 99.00 674.81 Td (\(1\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 340.50 670.28 Td (Mar) Tj ET Q
q 0 0 0 rg BT 358.92 670.28 Td (.�31) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 400.45 670.28 Td (Dec.�31) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 458.05 670.28 Td (Sept.�30) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 517.45 670.28 Td (June 30) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 51.50 656.33 Td (Operating Revenues) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 332.50 656.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 348.65 656.33 Td (785,052) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 391.50 656.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 407.65 656.33 Td (793,090) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 450.50 656.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 466.65 656.33 Td (768,338) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 509.50 656.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 525.65 656.33 Td (793,842) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 51.50 643.33 Td (Operating Expenses, excluding Impairment Charges) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 348.65 643.33 Td (685,342) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 407.65 643.33 Td (625,423) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 466.65 643.33 Td (623,919) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 525.65 643.33 Td (652,637) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 630.33 Td (Impairment Charges) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 371.15 630.33 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 407.65 630.33 Td (195,000) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 489.15 630.33 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 530.65 630.33 Td (34,000) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 57.50 617.33 Td (Operating Income \(Loss\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 353.65 617.33 Td (99,710) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 409.30 617.38 Td (\(27,333) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 440.15 617.33 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 466.65 617.33 Td (144,419) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 525.65 617.33 Td (107,205) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 51.50 604.33 Td (Non-Operating Income \(Expense\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 350.30 604.38 Td (\(43,109) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 381.15 604.33 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 409.30 604.38 Td (\(13,517) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 440.15 604.33 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 468.30 604.38 Td (\(18,122) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 499.15 604.33 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 527.30 604.38 Td (\(15,413) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.15 604.33 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 51.50 591.33 Td (Income \(Loss\) befor) Tj ET Q
q 0 0 0 rg BT 136.95 591.33 Td (e Income ) Tj ET Q
q 0 0 0 rg BT 177.87 591.33 Td (T) Tj ET Q
q 0 0 0 rg BT 183.99 591.33 Td (ax Pr) Tj ET Q
q 0 0 0 rg BT 206.49 591.33 Td (ovision \(Benefit\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 353.65 591.33 Td (56,601) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 409.30 591.38 Td (\(40,850) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 440.15 591.33 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 466.65 591.33 Td (126,297) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 530.65 591.33 Td (91,792) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 63.50 578.33 Td (Income tax pr) Tj ET Q
q 0 0 0 rg BT 123.31 578.33 Td (ovision \(benefit\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 353.65 578.33 Td (39,958) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 404.30 578.38 Td (\(209,396) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 440.15 578.33 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 471.65 578.33 Td (38,673) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 530.65 578.33 Td (28,255) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 51.50 565.33 Td (Net Income) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 353.65 565.33 Td (16,643) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 407.65 565.33 Td (168,546) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 471.65 565.33 Td (87,624) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 530.65 565.33 Td (63,537) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 60.50 552.28 Td (Less: Net income attributable to noncontr) Tj ET Q
q 0 0 0 rg BT 238.91 552.28 Td (olling inter) Tj ET Q
q 0 0 0 rg BT 285.67 552.28 Td (ests) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 358.65 552.28 Td (7,374) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 412.65 552.28 Td (19,324) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 471.65 552.28 Td (1) Tj ET Q
q 0 0 0 rg BT 476.65 552.28 Td (1,960) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 530.65 552.28 Td (12,617) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 51.50 538.33 Td (Net Income ) Tj ET Q
q 0 0 0 rg BT 102.87 538.33 Td (Attributable to Legg Mason, Inc.) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 332.50 538.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 358.65 538.33 Td (9,269) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 391.50 538.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 407.65 538.33 Td (149,222) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 450.50 538.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 471.65 538.33 Td (75,664) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 509.50 538.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 530.65 538.33 Td (50,920) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 51.50 521.28 Td (Net Income per) Tj ET Q
q 0 0 0 rg BT 117.41 521.28 Td ( shar) Tj ET Q
q 0 0 0 rg BT 138.62 521.28 Td (e ) Tj ET Q
q 0 0 0 rg BT 145.01 521.28 Td (Attributable to Legg Mason,�Inc. Shar) Tj ET Q
q 0 0 0 rg BT 308.44 521.28 Td (eholders:) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 57.50 507.33 Td (Basic) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 332.50 507.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 363.65 507.33 Td (0.10) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 391.50 507.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 422.65 507.33 Td (1.59) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 450.50 507.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 481.65 507.33 Td (0.78) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 509.50 507.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 540.65 507.33 Td (0.52) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 57.50 494.33 Td (Diluted) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 363.65 494.33 Td (0.10) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 422.65 494.33 Td (1.58) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 481.65 494.33 Td (0.78) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 540.65 494.33 Td (0.52) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 57.50 481.33 Td (Cash dividend declar) Tj ET Q
q 0 0 0 rg BT 147.98 481.33 Td (ed per) Tj ET Q
q 0 0 0 rg BT 174.74 481.33 Td ( shar) Tj ET Q
q 0 0 0 rg BT 195.95 481.33 Td (e) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 363.65 481.33 Td (0.28) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 422.65 481.33 Td (0.28) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 481.65 481.33 Td (0.28) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 540.65 481.33 Td (0.28) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 51.50 468.33 Td (Stock price range:) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 57.50 455.33 Td (High) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 332.50 455.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 358.65 455.33 Td (47.13) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 391.50 455.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 417.65 455.33 Td (42.43) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 450.50 455.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 476.65 455.33 Td (42.08) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 509.50 455.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 535.65 455.33 Td (40.82) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 57.50 442.33 Td (Low) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 358.65 442.33 Td (37.05) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 417.65 442.33 Td (37.15) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 476.65 442.33 Td (36.24) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 535.65 442.33 Td (35.34) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 51.50 429.33 Td (Assets Under) Tj ET Q
q 0 0 0 rg BT 107.71 429.33 Td ( Management \(in millions\):) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 57.50 416.33 Td (End of period) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 332.50 416.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 348.65 416.33 Td (754,131) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 391.50 416.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 407.65 416.33 Td (767,241) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 450.50 416.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 466.65 416.33 Td (754,419) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 509.50 416.33 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 525.65 416.33 Td (741,243) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 57.50 403.33 Td (A) Tj ET Q
q 0 0 0 rg BT 63.98 403.33 Td (verage) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 348.65 403.33 Td (766,896) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 407.65 403.33 Td (759,954) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 466.65 403.33 Td (750,327) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 525.65 403.33 Td (740,212) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 389.90 Td (\(1\) ) Tj ET Q
q 0 0 0 rg BT 67.50 389.90 Td (Due ) Tj ET Q
q 0 0 0 rg BT 83.79 389.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 92.52 389.90 Td (rounding ) Tj ET Q
q 0 0 0 rg BT 125.34 389.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 134.55 389.90 Td (quarterly ) Tj ET Q
q 0 0 0 rg BT 167.35 389.90 Td (results, ) Tj ET Q
q 0 0 0 rg BT 193.80 389.90 Td (total ) Tj ET Q
q 0 0 0 rg BT 211.03 389.90 Td (amounts ) Tj ET Q
q 0 0 0 rg BT 241.96 389.90 Td (for ) Tj ET Q
q 0 0 0 rg BT 253.99 389.90 Td (fiscal ) Tj ET Q
q 0 0 0 rg BT 274.53 389.90 Td (year ) Tj ET Q
q 0 0 0 rg BT 291.28 389.90 Td (may ) Tj ET Q
q 0 0 0 rg BT 308.04 389.90 Td (dif) Tj ET Q
q 0 0 0 rg BT 317.33 389.90 Td (fer ) Tj ET Q
q 0 0 0 rg BT 328.89 389.90 Td (immaterially ) Tj ET Q
q 0 0 0 rg BT 374.44 389.90 Td (from ) Tj ET Q
q 0 0 0 rg BT 393.09 389.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 405.60 389.90 Td (annual ) Tj ET Q
q 0 0 0 rg BT 430.38 389.90 Td (results.) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 49.50 367.10 Td (As of May 25, 2018, the closing price of Legg Mason's common stock was ) Tj ET Q
BT /F1 10.50 Tf ET
q 0 0 0 rg BT 366.93 367.10 Td ($38.77) Tj ET Q
BT /F1 10.50 Tf ET
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 328.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 328.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 328.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 328.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 328.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 328.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 328.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 328.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 328.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 302.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 302.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 302.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 302.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 302.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 302.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 302.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 302.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 302.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 276.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 276.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 276.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 276.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 276.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 276.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 276.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 276.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 276.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 250.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 250.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 250.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 250.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 250.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 250.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 250.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 250.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 250.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 224.60 277.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 224.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 224.60 55.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 224.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 224.60 55.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 224.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 224.60 55.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 224.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 224.60 55.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 193.60 336.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 193.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 193.60 55.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 193.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 193.60 55.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 193.60 4.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 193.60 55.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 166.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 166.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 166.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 166.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 166.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 166.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 166.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 166.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 166.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 140.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 140.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
330.00 140.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.00 140.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 140.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 140.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 140.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 140.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 140.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.00 114.60 277.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
326.00 114.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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330.00 114.60 55.00 -13.00 re f
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0.8 0.9333333333333333 1 rg
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385.00 114.60 4.00 -13.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 114.60 55.00 -13.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 114.60 4.00 -13.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 114.60 55.00 -13.00 re f
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0.8 0.9333333333333333 1 rg
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503.00 114.60 4.00 -13.00 re f
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0.8 0.9333333333333333 1 rg
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507.00 114.60 55.00 -13.00 re f
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0.8 0.9333333333333333 1 rg
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49.00 88.60 277.00 -13.00 re f
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0.8 0.9333333333333333 1 rg
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326.00 88.60 4.00 -13.00 re f
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0.8 0.9333333333333333 1 rg
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330.00 88.60 55.00 -13.00 re f
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0.8 0.9333333333333333 1 rg
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385.00 88.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.00 88.60 55.00 -13.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
444.00 88.60 4.00 -13.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 88.60 55.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 88.60 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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507.00 88.60 55.00 -13.00 re f
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/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
330 342.6 m
385 342.6 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i 
[] 0 d
0 J
0 j
3 M
385 342.6 m
389 342.6 l
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0 0 0 RG
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1.00 w
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[] 0 d
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3 M
389 342.6 m
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1.00 w
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[] 0 d
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3 M
444 342.6 m
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1.00 w
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[] 0 d
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3 M
448 342.6 m
503 342.6 l
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1.00 w
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[] 0 d
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3 M
503 342.6 m
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1.00 w
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3 M
507 342.6 m
562 342.6 l
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1.00 w
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[] 0 d
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3 M
49 328.6 m
326 328.6 l
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1.00 w
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[] 0 d
0 J
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3 M
389 328.6 m
444 328.6 l
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1.00 w
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[] 0 d
0 J
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3 M
448 328.6 m
503 328.6 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
507 328.6 m
562 328.6 l
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0 0 0 RG
/GS0 gs
1.00 w
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[] 0 d
0 J
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3 M
330 328.6 m
385 328.6 l
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1.00 w
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[] 0 d
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3 M
49 289.6 m
326 289.6 l
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0 0 0 RG
/GS0 gs
1.00 w
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[] 0 d
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3 M
330 289.6 m
385 289.6 l
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1.00 w
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[] 0 d
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3 M
389 289.6 m
444 289.6 l
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1.00 w
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3 M
448 289.6 m
503 289.6 l
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1.00 w
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3 M
507 289.6 m
562 289.6 l
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3 M
49 276.6 m
326 276.6 l
s
0 0 0 RG
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3 M
330 276.6 m
385 276.6 l
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1.00 w
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3 M
389 276.6 m
444 276.6 l
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3 M
448 276.6 m
503 276.6 l
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3 M
507 276.6 m
562 276.6 l
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3 M
49 263.6 m
326 263.6 l
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1.00 w
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3 M
330 276.6 m
385 276.6 l
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3 M
330 263.6 m
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3 M
389 263.6 m
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3 M
448 263.6 m
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3 M
507 263.6 m
562 263.6 l
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3 M
49 237.60000000000002 m
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3 M
330 237.60000000000002 m
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3 M
389 237.60000000000002 m
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1.00 w
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3 M
448 237.60000000000002 m
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3 M
507 237.60000000000002 m
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3 M
330 224.60000000000002 m
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3 M
389 224.60000000000002 m
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3 M
448 224.60000000000002 m
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3 M
507 224.60000000000002 m
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3 M
49 224.60000000000002 m
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3 M
330 210.60000000000002 m
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3 M
389 210.60000000000002 m
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3 M
448 210.60000000000002 m
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507 210.60000000000002 m
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3 M
49 210.60000000000002 m
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330 197.60000000000002 m
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3 M
389 197.60000000000002 m
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3 M
448 197.60000000000002 m
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3 M
507 197.60000000000002 m
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3 M
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330 62.60000000000002 m
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389 62.60000000000002 m
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448 62.60000000000002 m
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 416.20 347.17 Td (Quarter Ended) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 51.50 333.17 Td (Fiscal 2017) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 6.50 Tf ET
q 0 0 0 rg BT 97.89 337.70 Td (\(1\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 341.40 333.17 Td (Mar) Tj ET Q
q 0 0 0 rg BT 357.78 333.17 Td (.�31) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 400.45 333.17 Td (Dec.�31) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 458.60 333.17 Td (Sept.�30) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 518.55 333.17 Td (June 30) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 51.50 319.17 Td (Operating Revenues) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 332.50 319.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 348.65 319.17 Td (723,126) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 391.50 319.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 407.65 319.17 Td (715,241) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 450.50 319.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 466.65 319.17 Td (748,370) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 509.50 319.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 525.65 319.17 Td (700,165) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 51.50 306.17 Td (Operating Expenses, excluding Impairment Char) Tj ET Q
q 0 0 0 rg BT 247.19 306.17 Td (ges) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 348.65 306.17 Td (613,237) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 407.65 306.17 Td (569,075) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 466.65 306.17 Td (620,737) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 525.65 306.17 Td (626,610) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 53.00 293.17 Td (Impairment Char) Tj ET Q
q 0 0 0 rg BT 121.41 293.17 Td (ges) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 371.15 293.17 Td (�) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 412.65 293.17 Td (35,000) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 489.15 293.17 Td (�) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 548.15 293.17 Td (�) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 57.50 280.17 Td (Operating Income) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 348.65 280.17 Td (109,889) Tj ET Q
BT /F1 10.00 Tf ET
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q 0 0 0 rg BT 412.65 280.17 Td (1) Tj ET Q
q 0 0 0 rg BT 417.65 280.17 Td (1,166) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 466.65 280.17 Td (127,633) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 530.65 280.17 Td (73,555) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 51.50 267.17 Td (Non-Operating Income \(Expense\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 355.30 267.22 Td (\(7,064) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 381.15 267.17 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 409.30 267.22 Td (\(20,198) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 440.15 267.17 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 468.30 267.22 Td (\(1) Tj ET Q
q 0 0 0 rg BT 476.63 267.22 Td (1,199) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 499.15 267.17 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 527.30 267.22 Td (\(12,904) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 558.15 267.17 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
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q 0 0 0 rg BT 144.42 254.17 Td (T) Tj ET Q
q 0 0 0 rg BT 150.09 254.17 Td (ax Provision) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 348.65 254.17 Td (102,825) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 412.65 254.17 Td (90,968) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 466.65 254.17 Td (1) Tj ET Q
q 0 0 0 rg BT 471.65 254.17 Td (16,434) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 530.65 254.17 Td (60,651) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 63.50 241.17 Td (Income tax provision) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 353.65 241.17 Td (12,521) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 412.65 241.17 Td (26,441) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 471.65 241.17 Td (29,902) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 530.65 241.17 Td (15,31) Tj ET Q
q 0 0 0 rg BT 553.15 241.17 Td (1) Tj ET Q
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 471.65 228.17 Td (86,532) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 530.65 228.17 Td (45,340) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 60.50 215.17 Td (Less: Net income attributable to noncontrolling interests) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 353.65 215.17 Td (14,380) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 412.65 215.17 Td (13,088) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 471.65 215.17 Td (20,091) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 530.65 215.17 Td (1) Tj ET Q
q 0 0 0 rg BT 535.65 215.17 Td (1,888) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 51.50 201.17 Td (Net Income ) Tj ET Q
q 0 0 0 rg BT 100.65 201.17 Td (Attributable to Legg Mason, Inc.) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 332.50 201.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 353.65 201.17 Td (75,924) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 391.50 201.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 412.65 201.17 Td (51,439) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 450.50 201.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 471.65 201.17 Td (66,441) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 509.50 201.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 530.65 201.17 Td (33,452) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 51.50 184.17 Td (Net Income per share ) Tj ET Q
q 0 0 0 rg BT 139.24 184.17 Td (Attributable to Legg Mason,�Inc. Shareholders:) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 332.50 170.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 363.65 170.17 Td (0.76) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 391.50 170.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 422.65 170.17 Td (0.50) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 450.50 170.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 481.65 170.17 Td (0.63) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 509.50 170.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 57.50 157.17 Td (Diluted) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 422.65 157.17 Td (0.50) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 481.65 157.17 Td (0.63) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 481.65 144.17 Td (0.22) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 57.50 118.17 Td (High) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 332.50 118.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 358.65 118.17 Td (38.99) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 391.50 118.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 417.65 118.17 Td (34.35) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 450.50 118.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 476.65 118.17 Td (35.09) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 509.50 118.17 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 535.65 118.17 Td (35.83) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 57.50 105.17 Td (Low) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 358.65 105.17 Td (30.22) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 417.65 105.17 Td (28.10) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 476.65 105.17 Td (27.62) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 535.65 105.17 Td (27.54) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 51.50 92.17 Td (Assets Under Management \(in millions\):) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 57.50 79.17 Td (End of period) Tj ET Q
BT /F1 10.00 Tf ET
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q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.89 692.10 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.27 692.10 Td (Directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.73 692.10 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 271.09 692.10 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 282.98 692.10 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.54 692.10 Td (item ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.59 692.10 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.31 692.10 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.61 692.10 Td (contained ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.81 692.10 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.11 692.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 430.32 692.10 Td (caption ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 462.61 692.10 Td (�Election ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 503.65 692.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.78 692.10 Td (Directors� ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 679.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.61 679.50 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.55 679.50 Td (definitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.73 679.50 Td (proxy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.17 679.50 Td (statement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 186.35 679.50 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.54 679.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.31 679.50 Td (2018 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 237.83 679.50 Td (Annual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.68 679.50 Td (Meeting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.62 679.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.31 679.50 Td (Stockholders. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.70 679.50 Td (Information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.80 679.50 Td (about ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.07 679.50 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.41 679.50 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.02 679.50 Td (Section ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 666.90 Td (16\(a\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.07 666.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.24 666.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.49 666.90 Td (Securities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.32 666.90 Td (Exchange ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.38 666.90 Td (Act ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.96 666.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.13 666.90 Td (1934 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.55 666.90 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.96 666.90 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.88 666.90 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.47 666.90 Td (item ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.55 666.90 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.31 666.90 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.64 666.90 Td (contained ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.88 666.90 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.21 666.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.46 666.90 Td (caption ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 495.78 666.90 Td (�Section ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 535.36 666.90 Td (16\(a\) ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 654.30 Td (Beneficial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 95.75 654.30 Td (Ownership ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.92 654.30 Td (Reporting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.02 654.30 Td (Compliance� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 248.52 654.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.79 654.30 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.63 654.30 Td (proxy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.23 654.30 Td (statement. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.51 654.30 Td (All ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.03 654.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 379.88 654.30 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.72 654.30 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.40 654.30 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.50 654.30 Td (incorporated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.66 654.30 Td (herein ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.00 654.30 Td (by ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 641.70 Td (reference ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.78 641.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.19 641.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 119.26 641.70 Td (proxy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.00 641.70 Td (statement. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.10 641.70 Td (See ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.50 641.70 Td (Part ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.66 641.70 Td (I, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.02 641.70 Td (Item ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.50 641.70 Td (4A) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.75 641.70 Td ( ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.99 641.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.75 641.70 Td (This ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 312.65 641.70 Td (Report ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.47 641.70 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.96 641.70 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.77 641.70 Td (regarding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 456.24 641.70 Td (certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 488.05 641.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.03 641.70 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.27 641.70 Td (executive ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 629.10 Td (of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 58.06 629.10 Td (ficers. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.97 629.10 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.50 629.10 Td (process ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.19 629.10 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.90 629.10 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.76 629.10 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.96 629.10 Td (stockholders ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.24 629.10 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 278.52 629.10 Td (recommend ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.29 629.10 Td (nominees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.73 629.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.10 629.10 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 403.30 629.10 Td (Board ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 432.17 629.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.12 629.10 Td (Directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.39 629.10 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.75 629.10 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.12 629.10 Td (material ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 616.50 Td (changes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.11 616.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.07 616.50 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 115.60 616.50 Td (process ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.88 616.50 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.01 616.50 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.71 616.50 Td (discussed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.75 616.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.71 616.50 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.50 616.50 Td (definitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.52 616.50 Td (proxy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.81 616.50 Td (statement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.84 616.50 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.87 616.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.49 616.50 Td (2018 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.67 616.50 Td (Annual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.37 616.50 Td (Meeting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.15 616.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.69 616.50 Td (Stockholders ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 603.90 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.95 603.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.33 603.90 Td (caption ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 127.78 603.90 Td (�Corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.97 603.90 Td (Governance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.24 603.90 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.28 603.90 Td (Director ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.81 603.90 Td (Nomination ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.52 603.90 Td (Process.� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.17 603.90 Td (That ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.96 603.90 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 450.08 603.90 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.63 603.90 Td (incorporated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.23 603.90 Td (herein ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.01 603.90 Td (by ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 591.30 Td (reference ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.17 591.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.96 591.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 117.41 591.30 Td (proxy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.54 591.30 Td (statement.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 566.10 Td (Our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.76 566.10 Td (Board ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.34 566.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.02 566.10 Td (Directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.01 566.10 Td (has ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.93 566.10 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.35 566.10 Td (Audit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.19 566.10 Td (Committee, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.40 566.10 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 293.99 566.10 Td (Compensation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.58 566.10 Td (Committee, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.79 566.10 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.38 566.10 Td (Finance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.55 566.10 Td (Committee, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.76 566.10 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.35 566.10 Td (Nominating ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 553.50 Td (& ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 61.31 553.50 Td (Corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.93 553.50 Td (Governance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.29 553.50 Td (Committee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.59 553.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 230.39 553.50 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 238.69 553.50 Td (Risk ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.59 553.50 Td (Committee. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.51 553.50 Td (Information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.30 553.50 Td (about ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.27 553.50 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.91 553.50 Td (Board ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.21 553.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.59 553.50 Td (Directors' ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.19 553.50 Td (determination ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 540.90 Td (regarding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 93.00 540.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.09 540.90 Td (service ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.09 540.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.10 540.90 Td (an ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.28 540.90 Td (audit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.54 540.90 Td (committee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.13 540.90 Td (financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.12 540.90 Td (expert ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.63 540.90 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 322.39 540.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 337.77 540.90 Td (Audit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 364.95 540.90 Td (Committee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.88 540.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.89 540.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.98 540.90 Td (Board ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.91 540.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.92 540.90 Td (Directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.26 540.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.69 540.90 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 528.30 Td (name ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.58 528.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.08 528.30 Td (independence ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.15 528.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.24 528.30 Td (such ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.83 528.30 Td (expert ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 219.41 528.30 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.08 528.30 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 252.34 528.30 Td (contained ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 296.50 528.30 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.75 528.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 339.92 528.30 Td (caption ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.17 528.30 Td (�Election ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.16 528.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.25 528.30 Td (Directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.66 528.30 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 478.50 528.30 Td (Committees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.59 528.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 544.68 528.30 Td (the ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 515.70 Td (Board-Board ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 106.25 515.70 Td (Meetings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 147.26 515.70 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.26 515.70 Td (Audit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 178.11 515.70 Td (Committee� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.37 515.70 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.47 515.70 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.39 515.70 Td (definitive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.56 515.70 Td (proxy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.99 515.70 Td (statement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.16 515.70 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.34 515.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.10 515.70 Td (2018 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.60 515.70 Td (Annual ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 452.44 515.70 Td (Meeting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.37 515.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.05 515.70 Td (Stockholders. ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 503.10 Td (That ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 70.51 503.10 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.86 503.10 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.63 503.10 Td (incorporated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.47 503.10 Td (herein ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 213.47 503.10 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 225.74 503.10 Td (reference ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 266.56 503.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.50 503.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.10 503.10 Td (proxy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.37 503.10 Td (statement. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.00 503.10 Td (Information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.92 503.10 Td (about ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 439.02 503.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.62 503.10 Td (identities ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.89 503.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 504.41 503.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 519.01 503.10 Td (members ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 490.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 60.76 490.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 75.54 490.50 Td (Audit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.97 490.50 Td (Committee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.14 490.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.40 490.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.73 490.50 Td (Board ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.90 490.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.16 490.50 Td (Directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.74 490.50 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 277.58 490.50 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.01 490.50 Td (contained ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 333.33 490.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.01 490.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.35 490.50 Td (proxy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.35 490.50 Td (statement ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 429.10 490.50 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.52 490.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.86 490.50 Td (heading ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.60 490.50 Td (�Election ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.76 490.50 Td (of ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 477.90 Td (Directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 91.19 477.90 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 97.32 477.90 Td (Committees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 150.69 477.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.06 477.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 177.51 477.90 Td (Board ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.80 477.90 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 211.92 477.90 Td (Board ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.21 477.90 Td (Meetings ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.91 477.90 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.45 477.90 Td (Audit ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.00 477.90 Td (Committee� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 367.94 477.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 385.73 477.90 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 395.36 477.90 Td (also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.90 477.90 Td (incorporated ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 470.58 477.90 Td (herein ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.44 477.90 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.57 477.90 Td (reference.) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 452.70 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.57 452.70 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 101.83 452.70 Td (have ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 124.26 452.70 Td (adopted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.10 452.70 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 167.37 452.70 Td (corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.62 452.70 Td (Code ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.38 452.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.74 452.70 Td (Conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.92 452.70 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.27 452.70 Td (applies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.62 452.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.39 452.70 Td (all ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.49 452.70 Td (directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.83 452.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 415.60 452.70 Td (employees ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 463.10 452.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 474.46 452.70 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.63 452.70 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.82 452.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.59 452.70 Td (its ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 440.10 Td (subsidiaries, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.48 440.10 Td (including ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 146.92 440.10 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 171.26 440.10 Td (Mason's ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 208.60 440.10 Td (Chief ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.70 440.10 Td (Executive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 279.46 440.10 Td (Of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.35 440.10 Td (ficer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 309.16 440.10 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.56 440.10 Td (Chief ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.66 440.10 Td (Financial ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.51 440.10 Td (Of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.40 440.10 Td (ficer) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 412.21 440.10 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 417.61 440.10 Td (Principal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 457.68 440.10 Td (Accounting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.44 440.10 Td (Of) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 520.33 440.10 Td (ficer ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.34 440.10 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 427.50 Td (Controller) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 92.08 427.50 Td (. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.95 427.50 Td (This ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 118.05 427.50 Td (Code ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.63 427.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.80 427.50 Td (Conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 191.81 427.50 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.24 427.50 Td (designed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.99 427.50 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 251.58 427.50 Td (deter ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.99 427.50 Td (wrongdoing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.16 427.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.74 427.50 Td (to, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 358.96 427.50 Td (among ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.96 427.50 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 413.96 427.50 Td (things, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.68 427.50 Td (promote ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 482.10 427.50 Td (honest ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.93 427.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 529.52 427.50 Td (ethical ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 414.90 Td (conduct; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 88.66 414.90 Td (full, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.86 414.90 Td (fair) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 123.01 414.90 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.64 414.90 Td (accurate, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.23 414.90 Td (timely ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 199.06 414.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.23 414.90 Td (understandable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.79 414.90 Td (disclosure; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.28 414.90 Td (compliance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 383.68 414.90 Td (with ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.34 414.90 Td (applicable ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 451.49 414.90 Td (governmental ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 512.22 414.90 Td (laws, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 537.09 414.90 Td (rules ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 402.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.85 402.30 Td (regulations; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 120.62 402.30 Td (prompt ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 154.14 402.30 Td (internal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 189.40 402.30 Td (reporting ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.08 402.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 243.02 402.30 Td (violations ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.63 402.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 299.57 402.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.59 402.30 Td (Code; ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.86 402.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 362.21 402.30 Td (accountability ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.88 402.30 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.32 402.30 Td (adherence ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 486.06 402.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 497.42 402.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 513.44 402.30 Td (Code. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.19 402.30 Td (The ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 389.70 Td (Code ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.61 389.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 90.30 389.70 Td (Conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.83 389.70 Td (is ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.78 389.70 Td (posted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 175.14 389.70 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.59 389.70 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.53 389.70 Td (corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 254.12 389.70 Td (website ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 291.14 389.70 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 303.67 389.70 Td (http://www) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.82 389.70 Td (.leggmason.com ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.59 389.70 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 453.44 389.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 471.22 389.70 Td (�About ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.07 389.70 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.52 389.70 Td (Corporate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 377.10 Td (Governance� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.38 377.10 Td (section. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.24 377.10 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.48 377.10 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.01 377.10 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 200.16 377.10 Td (copy ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.07 377.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.31 377.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 249.63 377.10 Td (Code ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.28 377.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 285.52 377.10 Td (Conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.60 377.10 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.17 377.10 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 356.57 377.10 Td (obtained, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 397.85 377.10 Td (free ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.66 377.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.90 377.10 Td (char) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 445.77 377.10 Td (ge, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 460.80 377.10 Td (upon ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.30 377.10 Td (written ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 516.53 377.10 Td (request ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.35 377.10 Td (to ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 364.50 Td (Corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.13 364.50 Td (Secretary) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.09 364.50 Td (, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 138.36 364.50 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.58 364.50 Td (Mason, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.43 364.50 Td (Inc., ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 217.73 364.50 Td (100 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.13 364.50 Td (International ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 292.42 364.50 Td (Drive, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 321.59 364.50 Td (Baltimore, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.85 364.50 Td (MD ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 388.42 364.50 Td (21202. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 419.74 364.50 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 428.81 364.50 Td (e ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 436.12 364.50 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 455.10 364.50 Td (post ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 475.25 364.50 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 493.05 364.50 Td (amendments ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 548.77 364.50 Td (or ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 351.90 Td (waivers ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.06 351.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.13 351.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 111.87 351.90 Td (Code ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 136.94 351.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.59 351.90 Td (Conduct ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 187.08 351.90 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.73 351.90 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 221.45 351.90 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 259.34 351.90 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 270.41 351.90 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.23 351.90 Td (disclosed ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 325.21 351.90 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.62 351.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 354.35 351.90 Td (rules ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.67 351.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 389.32 351.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.06 351.90 Td (SEC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 427.22 351.90 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.87 351.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.61 351.90 Td (NYSE, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 487.56 351.90 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 500.96 351.90 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 517.87 351.90 Td (corporate ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 339.30 Td (website ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 84.20 339.30 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.40 339.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 109.86 339.30 Td (foregoing ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 153.30 339.30 Td (address.) Tj ET Q
BT /F2 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 49.50 314.10 Td (ITEM 1) Tj ET Q
q 0 0 0 rg BT 84.80 314.10 Td (1.  EXECUTIVE COMPENSA) Tj ET Q
q 0 0 0 rg BT 222.29 314.10 Td (TION.) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 288.90 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.10 288.90 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.95 288.90 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.20 288.90 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 205.98 288.90 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.42 288.90 Td (item ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 244.36 288.90 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 262.97 288.90 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 275.15 288.90 Td (contained ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.24 288.90 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 344.42 288.90 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.53 288.90 Td (captions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 396.79 288.90 Td (�Election ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 438.72 288.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 449.74 288.90 Td (Directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.08 288.90 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.85 288.90 Td (Compensation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 276.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 59.68 276.30 Td (Directors,� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 107.46 276.30 Td ("Election ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 148.16 276.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 158.34 276.30 Td (Directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 198.84 276.30 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.76 276.30 Td (Relationship ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.27 276.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.45 276.30 Td (Compensation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.54 276.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.13 276.30 Td (Risk," ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.73 276.30 Td (�Executive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 422.80 276.30 Td (Compensation,� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 492.18 276.30 Td (�Compensation ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 263.70 Td (Committee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.10 263.70 Td (Interlocks ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 142.03 263.70 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 159.13 263.70 Td (Insider ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.23 263.70 Td (Participation� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.49 263.70 Td (and ) Tj ET Q
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q 0 0 0 rg BT 486.15 472.27 Td (10,818,801) Tj ET Q
BT /F1 6.50 Tf ET
q 0 0 0 rg BT 537.50 477.43 Td (\(3\)\(4\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.50 458.17 Td (Equity compensation plans) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 70.50 448.17 Td (not approved by) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 70.50 438.17 Td (stockholders) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 269.15 438.27 Td (�) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 396.15 438.27 Td (�) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 521.15 438.27 Td (�) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.50 423.27 Td (T) Tj ET Q
q 0 0 0 rg BT 57.91 423.27 Td (otal) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 239.15 423.27 Td (9,217,974) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 302.50 423.27 Td ($) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 383.65 423.27 Td (38.79) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 486.15 423.27 Td (10,818,801) Tj ET Q
BT /F1 6.50 Tf ET
q 0 0 0 rg BT 537.50 428.43 Td (\(3\)\(4\)) Tj ET Q
BT /F1 10.00 Tf ET
BT /F1 8.50 Tf ET
q 0 0 0 rg BT 49.50 393.90 Td (\(1\) ) Tj ET Q
BT /F1 8.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.50 393.90 Td (Includes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.73 393.90 Td (462,412 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 128.80 393.90 Td (shares ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.48 393.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 161.99 393.90 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.90 393.90 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.47 393.90 Td (Common ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 241.55 393.90 Td (Stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 263.35 393.90 Td (\(�Common ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.04 393.90 Td (Stock�\) ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 332.44 393.90 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 347.63 393.90 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.44 393.90 Td (held ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 377.51 393.90 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.56 393.90 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.77 393.90 Td (trust ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.32 393.90 Td (pending ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 440.14 393.90 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 481.78 393.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.30 393.90 Td (phantom ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.48 393.90 Td (stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 543.86 393.90 Td (units. ) Tj ET Q
BT /F1 8.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.50 383.70 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 81.98 383.70 Td (phantom ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 112.99 383.70 Td (stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.19 383.70 Td (units, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 152.11 383.70 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.15 383.70 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 185.79 383.70 Td (converted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 220.56 383.70 Td (into ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 235.05 383.70 Td (shares ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.55 383.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 265.90 383.70 Td (Common ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 298.80 383.70 Td (Stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.43 383.70 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 329.19 383.70 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 334.23 383.70 Td (one-for) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.07 383.70 Td (-one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 375.44 383.70 Td (basis ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.70 383.70 Td (upon ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 411.96 383.70 Td (distribution, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 454.55 383.70 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 472.33 383.70 Td (granted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 499.08 383.70 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 506.95 383.70 Td (plan ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 522.85 383.70 Td (participants ) Tj ET Q
BT /F1 8.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.50 373.50 Td (upon ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.00 373.50 Td (their ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.08 373.50 Td (deferral ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 131.00 373.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 139.59 373.50 Td (compensation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 188.30 373.50 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.88 373.50 Td (dividends ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 231.44 373.50 Td (paid ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 247.57 373.50 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 257.58 373.50 Td (phantom ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 288.82 373.50 Td (stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 308.27 373.50 Td (units. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 328.32 373.50 Td (When ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 350.12 373.50 Td (amounts ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.42 373.50 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 392.30 373.50 Td (deferred, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 424.24 373.50 Td (participants ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 465.39 373.50 Td (receive ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 491.43 373.50 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 496.70 373.50 Td (number ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 524.17 373.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.75 373.50 Td (phantom ) Tj ET Q
BT /F1 8.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.50 363.30 Td (stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 86.99 363.30 Td (units ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.07 363.30 Td (equal ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 125.03 363.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.19 363.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 145.12 363.30 Td (deferred ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.98 363.30 Td (amount ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 202.02 363.30 Td (divided ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.07 363.30 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 239.12 363.30 Td (90% ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 256.25 363.30 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.41 363.30 Td (95% ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.54 363.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 290.16 363.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 302.10 363.30 Td (fair ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.44 363.30 Td (market ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 340.59 363.30 Td (value ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.55 363.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 369.18 363.30 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 374.50 363.30 Td (share ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 393.98 363.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 402.61 363.30 Td (Common ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.80 363.30 Td (Stock. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 458.49 363.30 Td (Also ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.10 363.30 Td (includes ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.98 363.30 Td (80,407 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 530.90 363.30 Td (restricted ) Tj ET Q
BT /F1 8.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.50 353.10 Td (stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.31 353.10 Td (units ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 105.70 353.10 Td (granted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 133.05 353.10 Td (to ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 141.52 353.10 Td (non-employee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.01 353.10 Td (directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 223.61 353.10 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.55 353.10 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 255.66 353.10 Td (compensation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 304.74 353.10 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.35 353.10 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 331.58 353.10 Td (converted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 366.96 353.10 Td (into ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 382.04 353.10 Td (shares ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.15 353.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 414.09 353.10 Td (Common ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 447.60 353.10 Td (Stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 468.82 353.10 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.18 353.10 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 484.82 353.10 Td (one-for) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 509.66 353.10 Td (-one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.63 353.10 Td (basis ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 545.49 353.10 Td (upon ) Tj ET Q
BT /F1 8.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.50 342.90 Td (distribution.) Tj ET Q
BT /F1 8.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 49.50 320.70 Td (\(2\) ) Tj ET Q
BT /F1 8.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.50 320.70 Td (W) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 74.84 320.70 Td (eighted-average ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.96 320.70 Td (exercise ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.65 320.70 Td (price ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.48 320.70 Td (does ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 196.91 320.70 Td (not ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.61 320.70 Td (include ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 236.48 320.70 Td (phantom ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 268.07 320.70 Td (stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 287.85 320.70 Td (units ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.23 320.70 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 315.16 320.70 Td (restricted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 348.63 320.70 Td (stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 368.41 320.70 Td (units ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 386.79 320.70 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.38 320.70 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.45 320.70 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 426.32 320.70 Td (converted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.67 320.70 Td (into ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 476.74 320.70 Td (Common ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 510.23 320.70 Td (Stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 531.44 320.70 Td (on ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 541.78 320.70 Td (a ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 547.40 320.70 Td (one-) Tj ET Q
BT /F1 8.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.50 310.50 Td (for) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 77.24 310.50 Td (-one ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.47 310.50 Td (basis ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.60 310.50 Td (upon ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.72 310.50 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 174.04 310.50 Td (at ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.30 310.50 Td (no ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 192.93 310.50 Td (additional ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 229.05 310.50 Td (cost, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 246.99 310.50 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.39 310.50 Td (were ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 280.03 310.50 Td (granted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.64 310.50 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 316.85 310.50 Td (described ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.54 310.50 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 360.28 310.50 Td (footnote ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.73 310.50 Td (\(1\).) Tj ET Q
BT /F1 8.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 49.50 288.30 Td (\(3\) ) Tj ET Q
BT /F1 8.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.50 288.30 Td (In ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.42 288.30 Td (addition, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 108.25 288.30 Td (240,574 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 137.71 288.30 Td (shares ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 160.79 288.30 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 169.72 288.30 Td (Common ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.20 288.30 Td (Stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.40 288.30 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 240.88 288.30 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.74 288.30 Td (issued ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.83 288.30 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.03 288.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 307.25 288.30 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 326.56 288.30 Td (Mason ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 351.54 288.30 Td (& ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 359.99 288.30 Td (Co, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.88 288.30 Td (LLC ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 391.77 288.30 Td (Deferred ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.81 288.30 Td (Compensation/Phantom ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 507.35 288.30 Td (Stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 528.55 288.30 Td (Plan ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 545.51 288.30 Td (upon ) Tj ET Q
BT /F1 8.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.50 278.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.01 278.10 Td (distribution ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 121.33 278.10 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 130.54 278.10 Td (phantom ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.41 278.10 Td (stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 182.48 278.10 Td (units ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 201.13 278.10 Td (that ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 216.01 278.10 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 232.77 278.10 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.91 278.10 Td (acquired ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.30 278.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 283.04 278.10 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 295.55 278.10 Td (future ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 317.97 278.10 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 327.17 278.10 Td (described ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.87 278.10 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 370.60 278.10 Td (footnote ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 401.06 278.10 Td (\(1\).) Tj ET Q
BT /F1 8.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 49.50 255.90 Td (\(4\) ) Tj ET Q
BT /F1 8.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.50 255.90 Td (8,447,864 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 103.78 255.90 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 113.14 255.90 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 132.88 255.90 Td (shares ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.40 255.90 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 173.31 255.90 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 183.61 255.90 Td (issued ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 207.14 255.90 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 228.77 255.90 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 242.38 255.90 Td (omnibus ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 273.94 255.90 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 297.46 255.90 Td (plan ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 314.37 255.90 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 323.73 255.90 Td (stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 343.95 255.90 Td (options, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 373.39 255.90 Td (restricted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 407.29 255.90 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 416.64 255.90 Td (unrestricted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 459.05 255.90 Td (stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 479.27 255.90 Td (grants ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 502.32 255.90 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 511.67 255.90 Td (any ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.22 255.90 Td (other ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 545.97 255.90 Td (form ) Tj ET Q
BT /F1 8.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.50 245.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 76.78 245.70 Td (equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.23 245.70 Td (compensation. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 151.76 245.70 Td (164,807 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.59 245.70 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 190.87 245.70 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 210.53 245.70 Td (shares ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 233.98 245.70 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 250.81 245.70 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 261.03 245.70 Td (issued ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.48 245.70 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 306.04 245.70 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 318.62 245.70 Td (Legg ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 338.29 245.70 Td (Mason, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 365.75 245.70 Td (Inc. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 380.93 245.70 Td (Equity ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 405.79 245.70 Td (Plan ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 423.11 245.70 Td (for ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 435.22 245.70 Td (Non-Employee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 489.35 245.70 Td (Directors ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 523.18 245.70 Td (as ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 532.46 245.70 Td (grants ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 555.43 245.70 Td (of ) Tj ET Q
BT /F1 8.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.50 235.50 Td (stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 87.39 235.50 Td (or ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 96.41 235.50 Td (restricted ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 129.98 235.50 Td (stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 149.86 235.50 Td (units. ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 170.46 235.50 Td (2,206,130 ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.41 235.50 Td (of ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.43 235.50 Td (these ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 234.84 235.50 Td (shares ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 258.03 235.50 Td (may ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 274.60 235.50 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 284.57 235.50 Td (purchased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 320.97 235.50 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 342.27 235.50 Td (our ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 355.54 235.50 Td (employee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 390.53 235.50 Td (stock ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 410.41 235.50 Td (purchase ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 442.56 235.50 Td (plan, ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 461.27 235.50 Td (which ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 483.98 235.50 Td (acquires ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 514.25 235.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 526.58 235.50 Td (shares ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 549.76 235.50 Td (that ) Tj ET Q
BT /F1 8.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 67.50 225.30 Td (are ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 80.00 225.30 Td (purchased ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 116.58 225.30 Td (thereunder ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 155.05 225.30 Td (in ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 163.79 225.30 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 176.30 225.30 Td (open ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 194.95 225.30 Td (market.) Tj ET Q
BT /F2 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0 0 0 rg BT 49.50 200.70 Td (ITEM ) Tj ET Q
q 0 0 0 rg BT 79.03 200.70 Td (13. ) Tj ET Q
q 0 0 0 rg BT 93.67 200.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 95.19 200.70 Td (CER) Tj ET Q
q 0 0 0 rg BT 116.99 200.70 Td (T) Tj ET Q
q 0 0 0 rg BT 123.22 200.70 Td (AIN ) Tj ET Q
q 0 0 0 rg BT 143.99 200.70 Td (RELA) Tj ET Q
q 0 0 0 rg BT 172.39 200.70 Td (TIONSHIPS ) Tj ET Q
q 0 0 0 rg BT 230.76 200.70 Td (AND ) Tj ET Q
q 0 0 0 rg BT 255.03 200.70 Td (RELA) Tj ET Q
q 0 0 0 rg BT 283.42 200.70 Td (TED ) Tj ET Q
q 0 0 0 rg BT 306.42 200.70 Td (TRANSACTIONS, ) Tj ET Q
q 0 0 0 rg BT 393.67 200.70 Td (AND ) Tj ET Q
q 0 0 0 rg BT 417.94 200.70 Td (DIRECT) Tj ET Q
q 0 0 0 rg BT 458.60 200.70 Td (OR ) Tj ET Q
q 0 0 0 rg BT 475.87 200.70 Td (INDEPENDENCE.) Tj ET Q
BT /F1 10.50 Tf ET
0 Tr
/GS0 gs
0 Tw 0 Tc 100 Tz 0 TL 
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 175.50 Td (The ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 104.25 175.50 Td (information ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 156.26 175.50 Td (required ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 193.67 175.50 Td (by ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 206.60 175.50 Td (this ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 224.20 175.50 Td (item ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 245.30 175.50 Td (will ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.06 175.50 Td (be ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.40 175.50 Td (contained ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 319.65 175.50 Td (under ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 345.99 175.50 Td (the ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 361.25 175.50 Td (captions ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 398.67 175.50 Td (�Compensation ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 466.42 175.50 Td (Committee ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 515.51 175.50 Td (Interlocks ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 162.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 68.15 162.90 Td (Insider ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 100.79 162.90 Td (Participation� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 162.59 162.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 181.23 162.90 Td (Certain ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 215.63 162.90 Td (Relationships ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 276.28 162.90 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 294.92 162.90 Td (Related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 330.23 162.90 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 336.27 162.90 Td (ransactions,� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 394.28 162.90 Td (�Corporate ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 444.41 162.90 Td (Governance ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 498.62 162.90 Td (- ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 505.60 162.90 Td (Policies ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 542.33 162.90 Td (and ) Tj ET Q
BT /F1 10.50 Tf ET
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 49.50 150.30 Td (Procedures ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 98.58 150.30 Td (Regarding ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 144.75 150.30 Td (Related ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 179.24 150.30 Td (Party ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 203.66 150.30 Td (T) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 209.71 150.30 Td (ransactions� ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 264.03 150.30 Td (and ) Tj ET Q
q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 281.62 150.30 Td (�Corporate ) Tj ET Q
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