Austin M. Kairnes

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

QS Investors LLC (QSI) is a SEC-registered investment advisor headquartered in New York City. The firm was founded and formed in August 2010 through an MBO of the Quantitative Strategies Group within DB Advisors, the institutional asset management division of Deutsche Asset Management. QSI is a wholly-owned subsidiary of QS Investors Holdings LLC, ultimately owned by Franklin Resources, Inc. (NYSE: BEN). The firm provides investment advisory and sub-advisory services to a diverse array of institutional and retail clients and funds.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

QS Investors LLC (QSI) is a SEC-registered investment advisor headquartered in New York City. The firm was founded and formed in August 2010 through an MBO of the Quantitative Strategies Group within DB Advisors, the institutional asset management division of Deutsche Asset Management. QSI is a wholly-owned subsidiary of QS Investors Holdings LLC, ultimately owned by Franklin Resources, Inc. (NYSE: BEN). The firm provides investment advisory and sub-advisory services to a diverse array of institutional and retail clients and funds.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

Founded in 1986 by John Ciarleglio and David Seeley, Longfellow Investment Management Co. LLC is a registered investment advisor located in Boston, Massachusetts. The firm offers discretionary investment management services primarily to US-based institutions, including banks, corporations, foundations, family offices, insurance companies, mutual funds, pension plans, Taft-Hartley plans, and not-for-profit organizations.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

QS Investors LLC (QSI) is a SEC-registered investment advisor headquartered in New York City. The firm was founded and formed in August 2010 through an MBO of the Quantitative Strategies Group within DB Advisors, the institutional asset management division of Deutsche Asset Management. QSI is a wholly-owned subsidiary of QS Investors Holdings LLC, ultimately owned by Franklin Resources, Inc. (NYSE: BEN). The firm provides investment advisory and sub-advisory services to a diverse array of institutional and retail clients and funds.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Putnam Investment Management LLC (PIM) is a SEC-registered investment advisor and mutual fund manager headquartered in Boston, Massachusetts. The firm was founded in 1971 and is a subsidiary of Putnam US Holdings I LLC, ultimately held by Power Corp. of Canada (TSX: POW). PIM provides investment advice across all asset classes to individuals and institutions worldwide through separately managed accounts and pooled investment funds.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Putnam Investment Management LLC (PIM) is a SEC-registered investment advisor and mutual fund manager headquartered in Boston, Massachusetts. The firm was founded in 1971 and is a subsidiary of Putnam US Holdings I LLC, ultimately held by Power Corp. of Canada (TSX: POW). PIM provides investment advice across all asset classes to individuals and institutions worldwide through separately managed accounts and pooled investment funds.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

QS Investors LLC (QSI) is a SEC-registered investment advisor headquartered in New York City. The firm was founded and formed in August 2010 through an MBO of the Quantitative Strategies Group within DB Advisors, the institutional asset management division of Deutsche Asset Management. QSI is a wholly-owned subsidiary of QS Investors Holdings LLC, ultimately owned by Franklin Resources, Inc. (NYSE: BEN). The firm provides investment advisory and sub-advisory services to a diverse array of institutional and retail clients and funds.

Founded in 1986 by John Ciarleglio and David Seeley, Longfellow Investment Management Co. LLC is a registered investment advisor located in Boston, Massachusetts. The firm offers discretionary investment management services primarily to US-based institutions, including banks, corporations, foundations, family offices, insurance companies, mutual funds, pension plans, Taft-Hartley plans, and not-for-profit organizations.

Founded in 1986 by John Ciarleglio and David Seeley, Longfellow Investment Management Co. LLC is a registered investment advisor located in Boston, Massachusetts. The firm offers discretionary investment management services primarily to US-based institutions, including banks, corporations, foundations, family offices, insurance companies, mutual funds, pension plans, Taft-Hartley plans, and not-for-profit organizations.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Founded in 1986 by John Ciarleglio and David Seeley, Longfellow Investment Management Co. LLC is a registered investment advisor located in Boston, Massachusetts. The firm offers discretionary investment management services primarily to US-based institutions, including banks, corporations, foundations, family offices, insurance companies, mutual funds, pension plans, Taft-Hartley plans, and not-for-profit organizations.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Putnam Investment Management LLC (PIM) is a SEC-registered investment advisor and mutual fund manager headquartered in Boston, Massachusetts. The firm was founded in 1971 and is a subsidiary of Putnam US Holdings I LLC, ultimately held by Power Corp. of Canada (TSX: POW). PIM provides investment advice across all asset classes to individuals and institutions worldwide through separately managed accounts and pooled investment funds.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

Putnam Investment Management LLC (PIM) is a SEC-registered investment advisor and mutual fund manager headquartered in Boston, Massachusetts. The firm was founded in 1971 and is a subsidiary of Putnam US Holdings I LLC, ultimately held by Power Corp. of Canada (TSX: POW). PIM provides investment advice across all asset classes to individuals and institutions worldwide through separately managed accounts and pooled investment funds.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

Putnam Investment Management LLC (PIM) is a SEC-registered investment advisor and mutual fund manager headquartered in Boston, Massachusetts. The firm was founded in 1971 and is a subsidiary of Putnam US Holdings I LLC, ultimately held by Power Corp. of Canada (TSX: POW). PIM provides investment advice across all asset classes to individuals and institutions worldwide through separately managed accounts and pooled investment funds.

Putnam Investment Management LLC (PIM) is a SEC-registered investment advisor and mutual fund manager headquartered in Boston, Massachusetts. The firm was founded in 1971 and is a subsidiary of Putnam US Holdings I LLC, ultimately held by Power Corp. of Canada (TSX: POW). PIM provides investment advice across all asset classes to individuals and institutions worldwide through separately managed accounts and pooled investment funds.

Putnam Investment Management LLC (PIM) is a SEC-registered investment advisor and mutual fund manager headquartered in Boston, Massachusetts. The firm was founded in 1971 and is a subsidiary of Putnam US Holdings I LLC, ultimately held by Power Corp. of Canada (TSX: POW). PIM provides investment advice across all asset classes to individuals and institutions worldwide through separately managed accounts and pooled investment funds.

Putnam Investment Management LLC (PIM) is a SEC-registered investment advisor and mutual fund manager headquartered in Boston, Massachusetts. The firm was founded in 1971 and is a subsidiary of Putnam US Holdings I LLC, ultimately held by Power Corp. of Canada (TSX: POW). PIM provides investment advice across all asset classes to individuals and institutions worldwide through separately managed accounts and pooled investment funds.

Putnam Investment Management LLC (PIM) is a SEC-registered investment advisor and mutual fund manager headquartered in Boston, Massachusetts. The firm was founded in 1971 and is a subsidiary of Putnam US Holdings I LLC, ultimately held by Power Corp. of Canada (TSX: POW). PIM provides investment advice across all asset classes to individuals and institutions worldwide through separately managed accounts and pooled investment funds.

Putnam Investment Management LLC (PIM) is a SEC-registered investment advisor and mutual fund manager headquartered in Boston, Massachusetts. The firm was founded in 1971 and is a subsidiary of Putnam US Holdings I LLC, ultimately held by Power Corp. of Canada (TSX: POW). PIM provides investment advice across all asset classes to individuals and institutions worldwide through separately managed accounts and pooled investment funds.

Founded in 1986 by John Ciarleglio and David Seeley, Longfellow Investment Management Co. LLC is a registered investment advisor located in Boston, Massachusetts. The firm offers discretionary investment management services primarily to US-based institutions, including banks, corporations, foundations, family offices, insurance companies, mutual funds, pension plans, Taft-Hartley plans, and not-for-profit organizations.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

QS Legg Mason Global Asset Allocation LLC is a registered investment advisor located in New York City. The firm is a subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors LLC, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation. The firm's primary business is providing asset allocation and manager or fund selection advisory services to a variety of clients with multi-asset class portfolios. Such clients include or are expected to include U.S. registered investment companies, investment funds domiciled and registered in non-U.S. jurisdictions, and other institutional clients such as pension plans, Section 529 college savings plans, state and local governmental entities, endowments, foundations, corporations, trusts and other business entities. Each such client typically is structured as a fund-of-funds or manager-of-managers arrangement. Asset allocation and manager or fund selection advisory services may be provided by QS Legg Mason on either a discretionary or non-discretionary basis.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

Founded in 1969, QS Batterymarch Financial Management, Inc. is a registered investment advisor located in Boston, Massachusetts. The firm is a wholly-owned, independently managed subsidiary of Legg Mason, Inc. (NYSE: LM). They provide investment advisory and sub-advisory services to a wide variety of institutional investors. Legg Mason, Inc.'s acquisition of QS Investors LLC was effective May 30, 2014. As a result, QS Investors, Batterymarch Financial Management, Inc. and Legg Mason Global Asset Allocation LLC became subject to common management and investment oversight, with the objective of integrating the firms to create a combined investment platform offering solutions, quantitative equity, liquid alternatives and multi-manager asset allocation.

Putnam Investment Management LLC (PIM) is a SEC-registered investment advisor and mutual fund manager headquartered in Boston, Massachusetts. The firm was founded in 1971 and is a subsidiary of Putnam US Holdings I LLC, ultimately held by Power Corp. of Canada (TSX: POW). PIM provides investment advice across all asset classes to individuals and institutions worldwide through separately managed accounts and pooled investment funds.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.

Duke University is an academic university that offers undergraduate, graduate and professional programs. It also has publications and research services. The university was founded in 1838 and is headquartered in Durham, NC.